Saturday, February 8, 2014
550 Queen Street Potential Tower
This proposed development will have a negative impact on Willahra Tower, at 540 Queen Street. Willahra Tower is an apartment building that has short term rentals. (Bad reviews on TripAdvisor.) Small apartments, with a two bedroom less than 75sqm internal. Apartments are advertised as "cheap", and there is a reason for this. My advice -- avoid!
Saturday, December 14, 2013
Brisbane Apartments
It is interesting that this same real estate agent, who is selling an apartment in Metro 21 states, as a feature of Metro 21:
"No hotel-style accommodation within the building".
Friday, December 13, 2013
New hotel in Mary Street
103 Mary Street is the second building from the left. 212 Margaret is on the left. Quest River Park Central can be seen second from the right.
Sunday, February 10, 2013
The Midtown
Saturday, January 19, 2013
Radius Apartments
Saturday, October 13, 2012
Infinity Retreats to Serviced Apartments
Meriton boss Harry Triguboff says Chinese buyers are retreating from the market due to the high Australian dollar and uncertainty in China as its economy cools. Triguboff says that in the last three months Chinese buying has subsided, replaced (in Sydney) by first-home buyers taking advantage of new state government handouts.
No one is sure why Brisbane did not immediately respond but it would seem that the severity of the state government cuts and the fears about what will happen to coal mining would have played a role. Again it is early days and addition a large part of the Brisbane building skills base is employed constructing the mines.
See Property Observer and Business Spectator
Friday, February 3, 2012
Mosaic Apartment Complex to Become Grand Chifley Hotel
Story here.
Friday, January 13, 2012
The Dunmore in the Valley
According to the selling agent, The Dunmore will comprise of 78 apartments including:
Product
|
Price Range
|
1 Bedroom
|
$376,000 - $462,000
|
1 Bedroom + study
|
$399,000 - $482,000
|
2 Bedroom
|
$572,000 - $632,000
|
Wednesday, December 21, 2011
The Oracle - Developer Wins Lawsuits
Interestingly, the judge's decision (which is long and complex) discussed issues about when a residential apartment building is and can be operated as a hotel or short stay letting operation.
"The contract provided that any authorisation of a person as a letting agent would be in the terms of the Caretaking and Letting Agreement annexed to the Disclosure Statement. That agreement provided for the entity appointed by the body corporate to operate a letting business, and to use certain common property for specified purposes. The letting business was not limited to long-term tenancies. Nothing in the Caretaking and Letting Agreement provided that the letting agent could not conduct its letting business so as to attract short-term tenants and holiday-makers. The letting business involved associated services commonly rendered in connection with letting lots in similar developments and “any other lawful activity.” This authorised the provision of services to guests occupying apartments, including guests staying for a short time who might require room service, a mini-bar and other “hotel-like services”."
"The fact that [the onsite manager] provides guests with certain “hotel-style services” does not mean that the tower has ceased to be a “residential tower” in the sense earlier described. The fact that some of the occupants are there for a short term does not mean that the tower is not a residential tower. The contractual promise of a lot in a residential tower relates to a tower used for residential purposes. The relevant provision distinguished the residential component from the retail component of the development. In its contractual context, a residential tower does not mean simply a tower for owners who are residents or long-term tenants."
Tuesday, December 20, 2011
Mirvac Sells Hotel Division to Accor
This sale received international attention, probably because Accor is a French company.
Many investors have purchased strata titled apartments in Mirvac managed buildings. For the most part, the income is pooled, and investors receive income based on lot entitlements. It will be interesting to see if Accor will be able to manage such complex arrangements, where each hotel has, in effect, many different owners.
A message to Mirvac staff from management said the following:
Sunday, December 4, 2011
Short Term Only
"Quest on Story resident Cameron Green said that unless he and the owners of another eight apartments in the inner-city Kangaroo Point building could find the money to fight a legal battle, they would be out on the streets.
The residents bought their homes unaware that under the town plan they could only be used for short-term stays.
In many cases the apartments were advertised as suitable for first home buyers, the new owners received first home buyer's grants and in all cases solicitors carried out all the relevant searches."
Saturday, December 3, 2011
Hotels in Apartment Buildings
A number of onsite managers operate hotels from class 2 buildings. An example is Oaks. Many owners are not happy with this situation. See prior posts for example.
At M on Mary, an owner tried to stop the onsite manager operating a short term rental operation from the building, on the basis that the building was only a class 2 building. A decision of the Tribunal said that it did not have the power to deal with this issue. See decision.
Friday, October 21, 2011
Call to build "pure hotels"
"Building a condo is all about a high ratio of units to small public space and without that space you don't get the big groups of tourists. ... they don't provide the benefits brought by the meetings and convention marketing, including the food and beverage offerings."
Take note of this warning if you intend to buy, rent, live or stay in an Oaks building in Brisbane. It is not a hotel -- it is just a cheaply built apartment complex without hotel facilities, but being misleadingly marketed and sold as a hotel. Not good for residents. Not good for people thinking that they are booking a hotel.
Sunday, July 17, 2011
Apartments that are not zoned for residential living
"Unit owner Cameron Green said lawyers carried out standard property searches for him in 2009 but this did not reveal that only short-term occupants were allowed. He said he and other buyers were not made aware when they bought their homes that they could not live in them permanently, due to a development condition imposed on the 14-year-old building. It is understood a building approval search would have revealed the problem but this type of check is generally considered to be “optional” during conveyancing."
Wednesday, June 8, 2011
Mosaic The Valley Adds Hotel
Friday, April 22, 2011
NY Short Term Rentals Law
Saturday, December 18, 2010
Pets in 212 Margaret
As reported in a prior post, there was a decision relating to pets in 212 Margaret apartment building in Brisbane. Here is the Decision.
It is interesting to read the submissions of some apartment owners who tried to prevent pets in other people's apartments. Maybe we should have a rule that says no children and TVs in their apartments. I have lived in expensive apartments in other cities where most people have pets. Some people in Brisbane are quite backwards! It is also strange that people have argued that there should be no pets because the building is being used (illegally) as a hotel!
"Jo Anast, owner of Lot 81, says she would like the possibility of having pets in the scheme and is in favour of the application.
Shane Doepel and Shaun Stevens, owners of Lot 31, say that the building is not suitable for housing pets in any circumstances, being a high-density CBD residential development. Most of the units are let as part of a very busy hotel. The scheme only has “modest common areas.” Owners who are buying into the scheme do so knowing that there is a “no pets” policy which in their case influenced their decision to buy.
Frank and Marilyn Moes, owners of Lot 61 (unit 1501) say that they purchased because of the “no pets” policy. They do not believe that living in the city is an appropriate environment for animals such as dogs and cats. There are no immediate close areas where a dog can be exercised, and dogs and cats should not be in all day but have a yard to play in and access to fresh air. Mr Moes also has an allergy to animal hair.
Rachel Findlay, owner of Lot 23 (unit 805) supports the application, believing it unreasonable to ban all pets. She has lived in CBD buildings which allow pets, and the animals have not been disruptive. In “Aurora” at 420 Queen Street, it is one of the reasons why the units are highly sought after. The body corporate should allow pets within reason such as pets below a certain weight/size.
Maria Barnett and Paul Schaller, owners of Lot 121 (unit 2701), say that before purchase they checked that pets were not allowed. He has severe allergies to dog and cat hair and would not be able to use the lifts or foyer if there was animal hair in the carpets. They say that in their experience with tenants, fish tanks can cause damage to carpets, clog drains and leave stains. The building is used as a hotel so a blanket ban on pets in not unreasonable. No matter how well- behaved pets are, they would cause extra work for the management and result in blocked-in balconies which would change the exterior of the building.
Verne Baistow, owner of Lot 95 (unit 2203) says that he supports a “no pets policy.” The units are too small to provide adequate room for an animal, and the units are used for hotel accommodation. “No animals are allowed in hotels” so there should not be any animals in the scheme building either. He is also concerned about health issues and noise.
Colin Yeoman and Louisa Farthing, owners of Lot 33 (room 1005) say that the registered by-law should remain as it is, since the building is inappropriate for the housing of pets.
Christine Torbey, owner of Unit 1801, says that the building is an inappropriate residence for pets, especially dogs and cats. Animals are unpredictable and it is not possible for an owner to control entirely an animal’s behaviour. She says that this is a “standard rule in city apartment blocks generally.”
Gregory Firth, owner of Unit 603 says that the scheme should not entertain pets at all."
Thursday, December 2, 2010
Hotel To Block Apartment Views
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.