Sunday, August 29, 2010

When will Park Get Into Drive?

Mirvac's Park development at the Newstead River Park is currently being sold off the plan, and is due for completion in about June 2012. It is divided into two sections, Park North (which is more expensive) and Park South (which is less expensive.) There are 100 apartments in Park. So far, about 30 apartments have been sold. (See prior Park posts.)

It appears to be a quality but basic development. No pool. No gym. But it is priced too high for investors, and so seems to be aimed at owner occupiers.

In Park South, you can buy a 2 bedroom, 2 bathroom apartment on level 5 for $745,000. This apartment is 81sqm internal with a balcony of 15 sqm. The living room and both bedrooms are at the front.

There is also a 2 bedroom, 2 bathroom apartment on level 4 for $740,000. This is 93sqm internal, with a 15 sqm balcony. The living room is at the front. Both bedrooms are at the back. It is a floor-through apartment.

The kitchens for these apartments are located on the wall of the living/dining room. So taking out the bathrooms and balcony, these are 3 room apartments.

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