This Blog is designed to provide information about buying or renting apartments in Brisbane, Australia.
Saturday, September 22, 2007
West End - New Development called Riverpoint
Riverpoint at West End in Brisbane is reporting strong off the plan sales. However, I did not like this proposed development.
Many of the apartments are tiny. Some of the 1 and 2 bedroom apartments are so small that they can't have regular doors - they need sliding doors!
Some examples (non-riverfront buildings, with no views) Harmony - the building on the side
Apt 2102, which is a 3 bedroom 2 bathroom apartment. The 3rd bedroom is internal and has no windows. This apartment is only 88 sqm internal! This must be one of the smallest 3 bedroom apartments in the world. Usually, a small 2 bedroom is 85 sqm internal. For example, the 2 bedroom apartments in Metro 21 are 85 sqm; a 2 bedroom in Admiralty Two is more than 100 sqm internal. So a three bedroom the size of a small two bedroom is unbelievable!
Apt 2208 and 2308 - 1 bedroom, 50 sqm internal (plus 22 external), for $399,000. Compare this to a hotel room! A one bedroom in Quay West, overlooking the Botanical Gardens and with river views, is about 78 sqm including the balcony, and sells for $420,000 to $450,000 fully furnished.
Apt 2305, 2 beds 1 bath on level 3, is only 66 sqm internal, and is listed for sale at $550,000.
Apt 2203, level 2, 86m2 in total (including balcony). The second bedroom looks too small to hold a double bed.
Mosaic - the building at the back
Apts 7210/7212/7311 are 2 bed 2 bathrooms on levels 2 and 3-- but are only 80 or 81 sqm internal, and face the back street. No river views at all. Prices on the list that I have from August 2007 range from $610,000 to $645,000.
Apt 7202, level 2, which have 2 beds and 1 bath, are only 66 sqm internal. The second bedroom is an internal room with no windows, so I am amazed they call this a bedroom. Sliding doors to get into the bedroom, because I guess that a regular door would hit the bed if you opened it.
With other apartments in the complex selling for more than $2 million, I would be worried if I purchased on of these that I will be surrounded by apartments that are so small that they could be slums.
By comparison, a 3 bedroom 2 bathroom riverfront Mirvac apartment at Tennyson Reach will average about 200 sqm and cost between $1.3M and $1.7M. A larger two bedroom in Admiralty Two, on the river and in the city, with great views, is around $700,000 today. A two bedroom two bath at Indooroopilly or Toowong, with no views, off the plan for 85 sqm internal is around $500,000 today.