The Sunday Mail reports that one person who moved from Victoria who had purchased an apartment off the plan in stage 2 is living on the floor of a friend's house, as his apartment is not ready and no one is sure when the necessary approvals will be obtained. He is quoted in the article as saying: "The cheapest place I can rent in the complex (Stage 1) is $950 a week..." He obviously has not looked on realestate.com.au, where apartments in Gabba Central stage 1 are listed at $460 and $580 a week furnished.
I avoided this complex for two reasons (apart from the delays that the developer was having): 1. On a very busy intersection. 2. The developer's advertising. Floor plans showed bedrooms that are 3m x 3m, and showed the bed taking up only a small part of the room. For example a bed was shown as about 150cm long, which is not to scale. In fact, most of the furniture shown on the plans was not to scale, and so makes the rooms look bigger. Also, for stage 1, there was no disclosure that part of the complex was a hotel or serviced apartment complex -- the plans shown to potential purchasers did not label the reception area as a reception area for example.
Interestingly, the developer's website currently says that settlement will take place in 2007 and that the complex "is scheduled for completion in August 2007." Clearly, not only is the developer late, he is not diligent in updating his promotional website.
In wonder if this is the developer's first large residential development? Its website states:
"Barron Developments have built a formidable reputation in the real estate industry as developers of landmark lifestyle and commercial precincts. Their past successes include the retail projects of Helensvale Plaza and 19th Avenue Shopping Centres.
Each project presents new challenges and requires a fresh, forward thinking perspective. In the Gabba Central precinct, Barron Developments have successfully fused innovative design with a concept of city fringe living that leaves nothing to be desired."