Sunday, August 24, 2008

SL8 Opinion

FKP is selling various apartments at SL8 at West End. These include:

  • Six Skyhomes: 2 storey, 2 bedrooms, 2 bathrooms, priced at $1.165M to $1.195M
  • Two storey ground floor terrace houses, 2 bedrooms, 2 bathrooms, 115sqm internal, priced at $895,000 to $915,000
  • A penthouse with claimed river views, 3 bedrooms, at $975,000.

I am skeptical about this development. Despite having Donovan Hill as the architect, and some larger apartments with large and interesting terraces, in my view, this is a B grade location. It is in an industrial area, and any view will be of industrial sheds and poor quality offices. (Have a look at StreetView in Google Maps.) It is not located on the river. It is a long walk to any shops or restaurants. It is over 2kms to the downtown, so a long walk. No ferry or train nearby. The better view is to the west or south-west, which is not great. Some of the "cheaper" two bedroom apartments, which are less than 90sqm internal, have an internal bedroom -- that is, the windows for that bedroom appear to go to the common hallway and not the outside.

According to the FKP website:

"With more than 90% of 1,2 & 3 bedroom apartments sold limited opportunities remain to invest in SL8 with two bedroom apartment final release now selling from $565,000-$975,000."

When FKP is taken over, I wonder what the new owner will do in relation to SL8.

No comments: