WEBVTT 00:02.690 --> 00:05.963 Hi, it's David Chandler, NSW Building Commissioner and 00:05.963 --> 00:07.320 frankly. 00:07.320 --> 00:10.125 I'm really glad I'm not in New Zealand, building 00:10.125 --> 00:13.159 Commissioner. I'm on a building in Auckland today in 00:13.159 --> 00:15.530 Hargrave St. that. 00:15.530 --> 00:19.230 Is in absolute tatters. These poor owners have had to 00:19.230 --> 00:23.273 actually walk away from this building and it's just got to 00:23.273 --> 00:27.384 go to auction next week and hopefully they'll get as good a 00:27.384 --> 00:30.948 price and a way out of this nightmare that they can 00:30.948 --> 00:34.785 possibly achieve. But I'll just, I'll just rotate my my 00:34.785 --> 00:37.610 camera so you can actually see, 00:37.610 --> 00:40.910 What we're talking about here? 00:41.250 --> 00:44.370 This building is. 00:44.370 --> 00:47.460 Saturated with water. 00:47.460 --> 00:50.680 It's a conversion of a office building. 00:50.680 --> 00:54.521 And obviously there was no understanding of the challenges 00:54.521 --> 00:58.000 of converting an office building and. 00:58.000 --> 01:02.450 No falls on floors in the bathroom areas. 01:02.450 --> 01:06.110 Piles of kitchens and cupboards. 01:06.110 --> 01:10.054 All stood up. Probably all headed for the tip, because I'm 01:10.054 --> 01:11.720 not sure of that. 01:11.720 --> 01:14.182 After sitting where it's been sitting, it's going to be 01:14.182 --> 01:15.710 usable. 01:15.710 --> 01:18.262 So these are the sorts of things that regulators have 01:18.262 --> 01:20.880 really got to get in front of and to 01:20.880 --> 01:23.408 make sure they don't happen again in the future because 01:23.408 --> 01:26.470 consumers are the people that get hurt most here. 01:26.470 --> 01:30.326 And they can't recover. This building is going to be almost 01:30.326 --> 01:34.054 a write off for its owners and I feel dreadfully for them 01:34.054 --> 01:35.520 as I've felt 01:35.520 --> 01:39.790 for the owners of Mascot Towers in New South Wales. 01:39.790 --> 01:42.289 For them, of course, there's an opportunity to move on 01:42.289 --> 01:45.130 again. It won't be a perfect opportunity, but. 01:45.130 --> 01:47.910 It's going to be nothing like this. 01:47.910 --> 01:49.690 So. 01:49.690 --> 01:52.694 Really, there's not much more I can add to the fact that 01:52.694 --> 01:55.224 this is one of, well, this is the most shocking 01:55.224 --> 01:57.370 circumstance that I've seen. 01:57.370 --> 02:02.160 Of a failed residential apartment building.