Positive aspects:
- good floor plans
- reasonable size (87 sqm internal)
- includes blinds
- floor to ceiling tiles in bathroom
- bath and separate shower
- linen cupboard
- floor to ceiling windows with fantastic views
- good ceiling height
Negative aspects:
- building also used as short term stay "hotel"
- lobby includes hotel check-in desk
- only 3 elevators to upper floors
- no balcony
- indoor pool, shared with hotel guests
- no central air con -- head-end on apartment wall
Pricing at present for a two bedroom on higher floors is in the $615,000 to $650,000 range, with stamp duty rebated, plus other offers available.
Looking at settled sales, it appears that off-the-plan purchasers paid more for similar apartments than those currently for sale. But it is hard to tell, because the developer has rent guarantees, discounts, rebates and cheap vendor financing. Looking at the 01 floor plan on the higher levels (which is a good 2 bedroom floor plan):
Apt 5001 - sold in 2012 to interstate investor for $635,000
Apt 5101 - sold in 2012 to owner occupier for $650,000
Apt 5301 - listed for sale at $627,000
Apt 5401 - sold in 2012 to Brisbane resident for $599,000
Apt 5501 - sold in 2009 to Queensland investor for $790,000
Apt 5601 - sold in 2009 to Brisbane resident for $759,000
Apt 5701 - sold in 2012 to owner occupier for $670,000
Apt 5801 - sold in 2011 for $837,500
Apt 5901 - listed for sale at $631,000
Apt 6001 - listed for sale at $636,000
Apt 6101 - sold in 2009 to foreign investor for $829,000
Apt 6201 - sold in 2009 to foreign investor for $834,000
Apt 6301 - sold in 2009 to foreign investor for $843,000
Apt 6401 - list for sale for $651,000
Shows that there is a big risk buying off the plan, with some investors now $200,000 behind.
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