I've recently looked at strata titling a block purely for increasing the valuation- I'm not intending selling at this stage.
For me in this situation, the big killer was the extra rates which would be incurred. The block is 9 1BR units, and rates are about $4K pa. If they were strata titled, the rates would be (at least) doubled. That makes it just not worth while to me. The extra valuation might stretch to $100K in extra equity, so that's an extra 4% pa on top of what I would be able to borrow. The numbers just don't add up.
If I was going to sell, then it would have been worth while. I think it would have cost $4K- though I sort of turned off after I heard the extra rates involved.
Queanbeyan attorney Baker Deane & Nutt provided me with the initial advice. I had previously sought advice from "Pappas J" with advice which I was not in the position to follow up on.
I did not even need to follow up on body corporate setup and continuing fees.
A local solicitor in the area you are looking at should be able to provide you with some preliminary advice at no cost.
I'd be interested to know what other advice you may receive,