Showing posts with label Soda Apartments. Show all posts
Showing posts with label Soda Apartments. Show all posts

Sunday, March 2, 2014

Soda Goes Soggy

It has been reported recently that the Soda apartment development in South Brisbane did not receive development approval from the Council.  Although 129 out of 131 have sold off-the-plan, the developer had not obtained development approval to build the building.

A newspaper report states that the apartments do not have sufficient ventilation, ceiling heights are too low, and there is not enough visitor car parking.  "The only outlook of many of the habitable room windows would be to a (future) adjoining development in very close proximity."

Well-known property law David Colenso said:  "Contracting 98% of apartments without a development approval contravenes all the basis risk parameters of property development.  Judging by the extent of councils refusal, this developer may need to redesign the development which puts at risk all contracts under Queensland's disclosure regime."

When I looked at this development in October, I thought that it was expensive.  It now looks to be very expensive, due to what appears to be poor quality design.

Investors buying off-the-plan should look at the checklists and information in this book.  Ceiling height, aspect and cross-ventilation are important to consider, and are often not disclosed in the glossy sales brochures.

Saturday, October 12, 2013

Soda Apartments, South Brisbane

A new development at South Brisbane is in pre-sale, Soda Apartments.  Lifestyle video here.

The building is 20 storeys, with 131 apartments.  It is behind Fish Lane Apartments, and is located at 27 Cordelia Street, which is a busy street leading on to the Go Between Bridge.  (Soda will impact the apartments on the northern side of new Fish Lane apartment building, which can be seen on the left in the rendering below.)

  • 19th Floor, 2 bed, 1 bath, 71 sqm, apt 1906 = $510,000
  • Apartment 608, 2 bed, 2 bath, 90 sqm, no view = $595,000
  • Apartment 602, 1 bed, 1 bath, no view = $375,000
  • Apt 604, 1 bed, 1 bath, no car, no view, 64 sqm = $340,000
  • Apt 1908, 3 bed, 2 bath, 190 sqm = $1,650,000
This pricing looks expensive to me!