Mascot Towers sale deal to end five years of ‘purgatory’ for owners of defect-riddled Sydney apartments

A majority of owners agree to deal, which will give them a share of the $30m building price and support from the NSW government

• Follow our Australia news live blog for latest updates
• Get our morning and afternoon news emails, free app or daily news podcast

Five years of legal headaches may soon be over for apartment owners in the defect-riddled Mascot Towers in Sydney, with a deal allowing them to sell their homes and walk away debt-free.

A majority of owners have agreed to a deal struck by the New South Wales government, which allows them to sell to a third-party commercial consortium rather than having to sell as a collective.