Showing posts with label brisbane hotels. Show all posts
Showing posts with label brisbane hotels. Show all posts

Friday, January 13, 2012

The Dunmore in the Valley

There is a new apartment development currently being marketed in Fortitude Valley.  It is called The Dunmore.  Management rights have been sold to Mantra, and the property will be managed under the Peppers brand as a small hotel.  For investors, the rental returns will be on a pooled basis based on lot entitlements, similar to many Mirvac properties.

According to the selling agent, The Dunmore will comprise of 78 apartments including:
-           42 One bedroom apartments, a number without car parking
-           18 One bedroom + study nook apartments
-           18 Two bedroom apartments (inc. flexibility of dual key access)

Product
Price Range
1 Bedroom
$376,000 - $462,000
1 Bedroom + study
$399,000 - $482,000
2 Bedroom
$572,000 - $632,000

Thursday, December 2, 2010

Hotel To Block Apartment Views

A new highrise hotel complex is planned for downtown Brisbane. If built, it will be located next door to the Vision hole, and adjacent to 212 Margaret and River City Apartments. It will block views from apartments in both buildings, so take care!

It will be located at 103 Mary Street, and will be 32 storeys, with 230 apartments or hotel rooms, but only 53 car parks.

See Brisbane Times.

Sunday, November 7, 2010

Apartments or Hotels

"... Mr Punch alleged in his statement of claim that the original disclosure statement received from Niecon subsidiary South Sky Investments revealed that he was buying 'a lot in a residential building'.

If he were buying today, that disclosure statement would have to declare it was an 'apartment in a hotel', he said in the claim. ..."

From GoldCoast.com.au

This is a warning to developers who build apartment buildings (such as Aurora) and then sell the management rights to Oaks to operate a residential building as a hotel.

Friday, February 20, 2009

Oaks Ok

"Mr Pointon said occupancy rates in Oaks's regional properties during January were 80-90 per cent and while its Sydney properties recorded 90 per cent, Melbourne 75 per cent, Adelaide 85 per cent, Brisbane 70 per cent and Auckland 77 per cent."

Source: The Australian

Sunday, December 7, 2008

Meriton on Herschel Street




Meriton has applied to build a second apartment building in Brisbane. It is located at 43 Herschel Street, Brisbane, near Roma Street Station. It is 73 stories, with over 400 apartments, and a basement 10 floors underground parking.

Saturday, November 22, 2008

M on Mary in liquidation

Sunday, November 9, 2008

Building Classifications

How will this impact Oaks, and apartment owners who are doing short term rentals in buildings that are not designed for short term rentals:
http://www.dip.qld.gov.au/resources/newsletter/newsflash-327-guideline.pdf

Friday, November 7, 2008

Howard Smith Wharf redevelopment


The Council has issued a plan for urban renewal in the wharf area under the Story Bridge. It looks like an excellent plan, and my guess is that it will increase the value of the apartments in the Admiralty precinct. It is called the Howard Smith Wharves redevelopment.

Details here and here.


Monday, November 3, 2008

in liquidation: M on Mary

"RECEIVERS & MANAGERS APPOINTED IN LIQUIDATION. BRAND NEW APARTMENTS. INVEST TODAY FROM JUST $295,000 IN THE HEART OF BRISBANE, AUSTRALIAS MOST EXCITING AND LIVEABLE CITY. PLUS A RENTAL GUARANTEE OF 6.5% GROSS (avg) MANGEMENTS FEES INCLUDED."

It appears that a Gold Coast company has been appointed to off load what remains for sale in M on Mary serviced (non residential) apartments. This building has 1 bedroom apartments, with some 3 bedroom apartments on higher floors. About 400 apartments in total, with over 100 reported as unsold. A very poor pool area. Most don't have car parks. Small apartments. Avoid!

Friday, October 10, 2008

Fall of an Empire

The Empire Square project on Elizabeth Street in Brisbane, which was to include a Westin Hotel, has been scrapped.

"Developer Metacorp is today in the process of advising investors it will not proceed with the development because it has lost financial backing, sources have told brisbanetimes.com.au. The empty retail stores on the site of the planned development have been readvertised for lease."

It was reported that a large number of the 100 apartments had sold off the plan. The minimum price was $1.3M for a 2 bed apartment.

See Brisbane Times.

Thursday, September 25, 2008

Vision or not?

See this AFR story, which says that Vision does not have finance and no construction contract has been signed. Trilogy sounds more optimistic. It reports that 74 out of 192 hotel apartments have been sold. The Westin Empire Square -- hard to tell what is actually happening -- sales are good, but no finance yet.

Trilogy and Water's Edge Video

See this video.

A similar story from the Brisbane Times, which is a little misleading because presales have been going on for months:

Brisbane skyscraper nets $50 million in first week
Shannon Molloy | September 19, 2008 - 10:23AM

Investors have swooped on a new mixed-use CBD skyscraper development and snapped up more than 70 hotel suites in less than a week, resulting in a $50 million sales success.

Standing at 265m and boasting residential, hotel and office space, the Trilogy Tower project on Queen Street will be one the city's tallest buildings when complete.

Developer APH Capital caused a stir last weekend when it officially opened sales for its luxury hotel suites, which represent the first new five-star product to be released to the local market in more than a decade.

More than 30 per cent of the hotel component has sold since last weekend, generating at least $50 million.

Brisbane has one of the highest hotel occupancy rates in the world and the hotel market has been bustling with investor activity in recent years.

APH managing director John Wilson said the success at Trilogy highlighted the continuing strength in the market.

"It shows there's a huge awareness of the demand for new hotel room stock and a particular need for five-star rooms in the Brisbane CBD," Mr Wilson said.

"The response to the product has been nothing less than sensational."

Trilogy Hotel, to be managed by Mirvac Hotels and Resorts, will comprise 192 fully-furnished one- and two-bedroom apartment suites.

The rest of the tower will also be home to a luxury residents and an office component featuring 31,000 square metres of space over 28 levels.

Construction is expected to be complete in 2012.