As well as running down the building by not undertaking concrete cancer repair and by voting against concrete cancer repairs, there have also been efforts to terminate The Sands scheme.

Negotiations between Ray White and Colin Evans and Wayne Nolan (former owner) in 2022 were held in secret. These committee members even went as far as engaging Mahoney Lawyers to formalise the approach they were considering as per the correspondence The Sands CTS 14967 - Termination of Scheme.

Termination of The Sands scheme can be achieved by lack of maintenance and running down of the building and will ultimately result in all units at The Sands being placed in a trust. The trustee, in this case the real estate agent, would hold all properties in the trust and would sell to a developer on behalf of the unit holders. The income and distributions of the trust, after costs and agent fees, would be split between the unit holders. Distribution of the income would be split equally between the unit holders.

This means that owners who paid around $100,000 for Orchid Wing units in the developer fire sale in 2012 would receive an equal amount to owners who bought at market rates and paid for ocean view or penthouse apartments.

This is a nasty and short-sighted approach being led by greed.

Note that claims of an imminent sale to non-existent developers have been circulating for over 10 years. There have been at least 3 attempts to canvas numbers for a sale and these have failed to capture interest beyond those individuals who bought cheaper at the developer fire sale and who are now seeking a 10 fold return on their $100,000 outlays - greed at the expense of all owners - and a dangerous approach as owners would be at the mercy of the trustee in any price negotiations.

Numerous attempts to run down the site and force the scheme termination are being driven by a small group with multiple units holdings. Past committees with proxy votes to Colin Evans are dangerous and owners should be concerned about voting for these individuals.