Subdividing property ranges from the quite simple to the very complex, and a Stratum Subdivision falls into the latter category. To get it right, you will need the help and advice of experienced experts in the field, like Australia’s leading land and construction Surveyors at Geosurv.
A Stratum Subdivision – Why?
Stratum Subdivisions and Titles are unique and can be highly complex. In a simple Torrens Title Subdivision, for example, land is divided up vertically and the separate title owners enjoy complete autonomy. But when the greater flexibility of a Strata Scheme is sought, this may not allow the desired autonomy that the Developers and Title owners desire. In this case, a Stratum Subdivision may be appropriate.
Examples of Stratum Subdivisions
A Stratum Subdivision can be necessary in the case of properties like shopping centres and commercial offices, which often require more complex horizontal divisions for the separation of properties and titles. This is because some properties need to be divided up with different areas to be used in different ways, for instance across several levels.
Stratum Subdivisions can also apply in the case of residential home units where they occupy separate floors within the same building. In this case, a Stratum Subdivision would be necessary to reconcile the varying needs of the multiple title holders.
One example is a multi-storey building with a multi-level underground car park containing floors with retail outlets, office space and residential units. The residential units and car park may require a separate Title Scheme, and a Stratum Scheme will achieve this aim. Another example is a plot of land where the Developer wishes to erect three separate buildings: one for residential use, another for commercial use and the third for mixed use.
The Stratum Management Statement
A Stratum Scheme is therefore similar to a Strata Scheme, but without the need for a Body Corporate or committee to oversee it. It does, however, require a Strata Management Statement (SMS), which lays out the management of common facilities like stairs, elevators, walkways and lobbies and describes the various title holders’ rights and responsibilities relating to maintenance and costs.
Only experts in the field like Geosurv have the specific knowledge and experience to advise you on whether a Stratum Subdivision is right for your development plans, so give us a call today on 1300 554 675.