Charlotte Towers Sales

Let’s have a look at the four most recent sales in Charlotte Towers (as set out in government records) located at 128 Charlotte Street in Brisbane:

• Apt 4403 - a very good two bedroom apartment, purchased August 2005 from the developer for $585,000, resold October 2012 for $560,000
• Apt 3010 - purchased October 2004 from the developer for $380,000, resold October 2012 for $365,000 to well known Brisbane property investor Sarina Russo
• Apt 3705 - purchased September 2004 from the developer for $374,000, resold October 2012 for $350,000
• Apt 3007 - purchased from the developer in May 2006 for $533,000, resold February 2009 for $485,000, resold again in September 2012 for $497,000

As can be seen from the above, every purchaser from Devine who purchased off the plan has lost money.  The losses are greater than those shown above once stamp duty and agent's selling fees are taken into account.

Charlotte Towers was developed by Devine, at that time run by David Devine and Ken Woodley, who now run the Metro Property Group.