Showing posts with label mint. Show all posts
Showing posts with label mint. Show all posts

Sunday, September 2, 2012

Skyline Apartment Recent Sales

Some recent sales at Skyline Apartments, also known as Mint Short Term Apartments, at 30 Macrossan Street, Brisbane:
  • Apt 393, 3 bedroom, sold in April 2012 for $800,000 (originally sold off the plan in 2004 for $840,000)
  • Apt 154, 3 bedrooms, sold in April 2012 for $745,000 (originally sold off the plan in 2007 for $815,000)
  • Apt 203, 2 bedrooms, sold in February 2012 for $530,000 (originally sold off the plan in 2008 for $615,000)
  • Apt 123, 2 bedrooms, sold in February 2012 for $600,000 (prior sale was in 2007 for $630,000)
  • Apt 251 sold in August 2012, price not yet reported
Does not look like values have held up very well in Skyline Apartments.

Tuesday, August 14, 2012

Holiday Letting Agent Investigation

An interesting article in the AFR on 9 August (page 45) about StayMint (or Mint?) real estate letting agent, and how (it is alleged) they were renting out apartments on a short term basis, but not paying the owners for the rentals.  It seems that the government is investigating.  This is not a rare problem -- I have heard similar stories in the past about apartment buildings in Brisbane that are rented out on a short term basis, and holiday apartments on the Gold and Sunshine Coasts where the real estate agent or onsite agent pockets the money and tells the owner that the apartment is vacant.  This same business manages Skyline in Brisbane.

See "Stay Mint Faces Complaint"

"The Queensland Office of Fair Trading is investigating holiday letting company StayMint, a wholly-owned subsidiary of listed property group Ariadne, following complaints from owners of a Gold Coast apartment block about financial irregularities. Fair Trading officers raided the StayMint office at a Broadbeach apartment complex, Carmel by the Sea, last Thursday and seized financial documents.... The owners said they had discovered people had stayed in their apartment but the stay was not recorded in the monthly statement to the owner, and the rent not paid."