OPAL TOWER UPDATE 30.06.20

Icon has completed all remedial works and is providing an unprecedented 20-year structural warranty on the rectification work undertaken at Opal Tower – three times longer than the standard six-year period required for residential buildings in NSW.

Icon has outlaid an estimated $40 million on Opal Tower since 24 December 2018, with support to residents during the remediation works the number one priority.

Icon is disappointed that despite weekly meetings with the Opal Tower Owners Corporation, Icon only became aware of the vast majority of recently identified alleged issues when legal action was commenced on 12 June 2020.  

Icon remains ready to address any actual defects in Opal Tower as a priority and has asked the Owners Corporation for access to the building to assess the reported issues. While this permission has been denied to date, Icon will continue to address legitimate lot owner issues within apartments.

Obtaining insurance is a matter for the Opal Tower Building Management Committee who have had all the relevant information and documentation required to obtain a competitive and comprehensive insurance policy since March this year.

Kind Regards,

Icon Team

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