M on Mary

M on Mary in Mary Street, Brisbane, is almost complete and read for residents to move in.

I have always worried about Devine buildings and their quality. M on Mary makes the recent Devine buildings look like palaces.

M on Mary has over 360 apartments and just over 40 floors. The building comprises mostly 1 bedroom apartments, with about 10% of the apartments having 3 bedrooms. There are no 2 bedroom apartments. There are less than 200 car spaces, and so many apartments do not have car parking.

On most floors, there are 10 apartments. This is a high number of apartments per floor, and raises noise and security issues.

According to the on-site managers, the developer continues to own about 120 apartments. The developer has furnished these apartments and is planning on renting them on a short term basis. So M on Mary will turn into another short stay building.

The building has only 4 small elevators for 360 apartments. This is a very low ratio, so expect delays when wanting to come and go.

The building has very few facilities for residents. There is a very small pool at the rear of the building, on the boundary near Festival Towers. It is one of the ugliest pools I have seen. There is also a small residents gym.

The apartments are tiny. A typical apartment is 52 sqm internal with a 10 sqm balcony. Some apartments are 58 sqm internal with a 20 sqm balcony. Each apartment has a small bedroom, an internal room with no windows that could be used as a storage room or study, a small combined bathroom/laundry and a living room. At one end of the living room, there is an area that has kitchen cupboards, a sink and a small fridge. There is no ensuite -- the bathroom is not near the bedroom. There are no storage cupboards, linen cupboards or coat cupboards. Some apartments do not have a balcony.

The quality of finishes is below average in my opinion.

Many owners are investors who have purchased the furniture package, which consists mostly of Chinese flatpacked furniture.

Some of the apartments have views into Festival Towers, and others have views towards the Botantic Gardens. These views of the park will be mostly lost when Devine builds its apartment / hotel complex on Alice Street.

There are a number of apartments for sale, including:

• 1 bedroom on lower floor, no view, carpark, at $460,000
• 1 bedroom on lower floor, no view, carpark, at $420,000
• 1 bedroom on 19th floor, no carpark, at $320,000
• 1 bedroom on 21th floor, no carpark, at $360,000
• 1 bedroom, no carpark, at $329,000
  
• 3 bedroom on high floor at $920,000
  

The onsite manager says that the rental prices are:

• $420 a week unfurnished, 1 bed, no car
• $460 a week furnished, 1 bed, no car
• more than $500 a week for 1 bed with a car.

An agent selling an apartment has the following rental guide for a 1 bed apartment with no car:
Rental price guide:
- $350 - $380 per week Unfurnished
- $420 - $450 per week Furnished

Offsite agent is trying to rent an apartment on level 23 with no car for $400 per week,

For a comparion, see what you would get in Metro 21 across the road or (dare I say it) Festival Towers at the rear.

My opinion: M on Mary is a building to avoid.

(Korean language website is located at: http://www.monmary.com.au/kr/index.htm)