Tuesday, April 12, 2011

Tennyson Prices

It is interesting to see the current pricing for apartments being resold at Tennyson Reach. This is a Mirvac development in the middle of nowhere, and three more buildings are planned.

This complex was badly impacted by the floods. The Mirvac website says:

"Thank you for your enquiry through the Tennyson Reach website. Mirvac does not have any apartments for sale at Tennyson Reach but anticipates that apartments will be made available in the near future. "

They have put their sales program on hold -- they still have many unsold apartments in building three.

Currently, you can buy a prestige riverfront 3 bedroom apartment for $998,000, on the 6th floor. This is about $600,000 less than the original sales price. Beware, body corporate levies are high. The original purchaser would have lost a significant sum of money on this apartment. No guarantee that the next purchaser will not loose too.

No comments: