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

The Mascot Towers deal will ‘close the book on one of the darkest chapters in building in this state’, NSW fair trading minister Anoulack Chanthivong says. Photograph: Bianca de Marchi/AAP

Five years of legal headaches may soon be over for many 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.