- Skyline, Apt 91, 30 Macrossan Street, 3 bedrooms, 2 bathrooms, 1 car - $747,000
- Skyline, Apt 261, 30 Macrossan Street, 3 bedrooms, 2 bathrooms, 2 cars - $800,000
- Skyline, Apt 41, 30 Macrossan Street, 3 bedrooms, 2 bathrooms, 1 car - $731,500
- Festival Towers, Apt 3605, 2 bed, 2 bath, 1 car - $529,000
- Festival Towers, Apt 4006, 2 bed, 2 bath, 1 car - $570,000
- Festival Towers, Apt 1805, 1 bed, 1 bath, no car - $342,500
- Festival Towers, Apt 2503, 2 bed, 1 bath, 1 car - $499,000
- Charlotte Towers, Apt 508, 1 bed, 1 bath, no car - $350,000
- Charlotte Towers, Apt 2902, 2 bed, 2 bath, 1 car - $540,000
- M on Mary, Apt 3204, 1 bed, 1 bath, no car - $356,000
- M on Mary, Apt 607, 1 bed, 1 bath, no car - $360,000
- M on Mary, Apt 2609, 1 bed, 1 bath, no car - $327,000
- Felix, Apt 303, 2 bed, 2 bath, 1 car - $600,000
- Meriton Herschel St (Infinity), 2 bed, 2 bath, no car - $580,000
- Meriton Soleil - 2 bed, 2 bath, 1 car - $575,000
- Vue, 92 Quay St, Apt 2301, 2 bed, 2 bath, 1 car - $460,000
- Vue, 92 Quay St, Apt 2602, 2 bed, 2 bath, 1 car - $437,500
Monday, March 14, 2016
Recent Apartment Sales in Brisbane 4000
Sunday, August 2, 2015
Recent Brisbane City Apartment Sales
Quay West - 132 Alice Street
- Apt 88, 1 bed, 1 bath, 1 car, park views - $512,000 in June 2015
- Apt 50, 2 bed, 2 bath, 1 car - $705,000 in February 2015
- Apt 119, 3 bed, 2 bath, 2 cars, river front - $1,240,000 in February 2015
- Apt 78, 3 bed, 2 bath, 2 cars, river front - $1,100,000 in March 2015
- Apt 3701, 1 bed, 1 bath - $368,000 in July 2015
- Apt 2504, 1 bed, 1 bath, 1 car - $436,000 in July 2015
- Apt 1702, 2 bed, 2 bath, 1 car - $545,000 in Juune 2015
- Apt 2101, 2 bed, 2 bath, 1 car - $872,000 in July 2015
- Apt 1506, 1 bed, 1 bath, 1 car - $334,000 in July 2015
- Apt 2104, 1 bed, 1 bath - $384,750 in June 2015
- Apt 1307, 2 bed, 2 bath, 1 car - $480,000 in June 2015
- Apt 288 - 2 bed, 2 bath, 1 car - $740,000 in July 2015
- Apt 38 - 2 bed, 2 bath, 1 car - $677,500 in June 2015
- Apt 5501, 2 bed, 2 bath, 1 car - $695,000 in July 2015
Saturday, October 25, 2014
Win an apartment in Soleil
RSL Art Unions paid $570,000 for this apartment in June 2014. They have included about $40,000 of furniture. They estimate rental returns of $39,000 a year, which is $750 a week -- that is a little high in my view.
Friday, October 17, 2014
Legal Claim Against Meriton
"BILLIONAIRE developer Harry Triguboff is at the centre of a legal battle with a body corporate over who should foot a $2 million repair bill for one of his Southport residential high rises."
Meriton is also the developer of the Infinity and Soleil towers in Brisbane.
See Gold Coast Business News
Saturday, August 2, 2014
Meriton Soleil Resales - Some up, some down
Apt 5304 - Sold off-the plan in June 2009 for $543,000, resold in June 2014 for the same price. This is a loss, because of stamp duty and agent's selling fees.
Apt 2403 - Sold off-the plan in August 2012 for $493,725, resold in April 2014 for $525,000.
Apt 5505 - Sold off-the plan in August 2009 for $669,240, resold in April 2014 for $600,000.
Apt 5604 - Sold off-the plan in November 11 for $586,000, resold in April 2014 for $565,000.
Apt 4404 - Sold off-the plan in April 2012 for $485,000, resold in April 2014 for $572,000.
Apt 4004 - Sold off-the plan in March 2009 for $502,000, resold in March 2014 for $570,000.
Saturday, September 14, 2013
I just don't understand
You can buy a year old apartment in Meriton's Soleil as follows:
- 93 sqm internal
- No balconey
- Air conditioning not ducted
- 2 bedrooms, 2 bathrooms
- Facing West, so hot in the summer
- General views of an ugly part of Brisbane
- Large, impersonal building, used as a hotel
- Your neighbour may be an Eastern European hooker or a football team on tour
- Price = $629,000 (apartment 4403) - $6,763 a sqm
- 113 sqm total
- Massive balconey
- Riverfront
- 2 bedrooms, 2 bathrooms
- Outdoor pool overlooking the river
- Price - $659,000 (apartment 54) - $5,831 a sqm
- 130 sqm total
- Two balconies
- Ducted air-conditioning
- About 130 apartments in building
- Views of botanical gardens
- 2 bedrooms, 2 bathrooms
- Price - about $600,000 - $4,615 a sqm
- 130 sqm in total
- Balconey
- Direct riverfront
- Ducted air-conditioning
- 2 bedrooms, 2 bathrooms, separate laundry room
- North Eastern view
- About 120 apartments in the building
- Auction -- there has not been a similar apartment sold in this building for years.
Saturday, February 2, 2013
Capital Loss in Meriton's Soleil
Apartment 6003 was purchased by a Sydney investor in September 2010, off the plan, for $640,000. It is a two bedroom apartment with study, on level 60. None of the apartments in Soleil (or Infinity) have balconies. The apartment is 93 sqm, a good size, but faces West.
This apartment has been on the market for a number of months. Ray White now has it listed for sale, at $575,000. With stamp duty and agent's fees, a capital loss of at least $80,000 or more than 10%.
This is what Ray White says in an email:
Unit 6003/501 Adelaide Street, Brisbane – 2 bedrooms, 2 bathrooms, study, 1 car + storage
Please see below links to the property internet listing along with a link to the floor plan:
6003/501 Adelaide Street, Brisbane - Internet Link
6003/501 Adelaide Street, Brisbane - Interactive Floor Plan Link
This property is open for inspection today 2nd February 2013 from 1:30-2pm.
We also have another property on the market in Soleil, Unit 4803/501 Adelaide Street, Brisbane which is a 2 bedroom, 2 bathroom apartment with a study and 1 car space.
At the end of 2012 we sold Unit 5204/501 Adelaide Street, Brisbane for $570,000 [the vendor had paid $540,000] along with many other sales within the Admiralty Precinct throughout the year.
We currently have buyers that are interested in acquiring quality properties within the Soleil and the Admiralty Precinct.
Friday, December 14, 2012
Soleil Sale
Saturday, September 1, 2012
Meriton's Soleil - original buyers under water
Positive aspects:
- good floor plans
- reasonable size (87 sqm internal)
- includes blinds
- floor to ceiling tiles in bathroom
- bath and separate shower
- linen cupboard
- floor to ceiling windows with fantastic views
- good ceiling height
- building also used as short term stay "hotel"
- lobby includes hotel check-in desk
- only 3 elevators to upper floors
- no balcony
- indoor pool, shared with hotel guests
- no central air con -- head-end on apartment wall
Inner City Apartments For Sale
River Place, 82 Boundary Street (riverfront)
Apt 253, 1 bed plus study, 1 car park, level 28, 83 sqm, $495,000
With stamp duty - $510,750
$6,153 sqm
Rates $1,300 a year; body corporate $6,300 a year
Assume rent of $570 a week ($520 a week after agent's fees)
Net return per year - $19,440 per year before interest (3.8% return).
Apt 275, 1 bed plus study, 1 car park, 83 sqm, $505,000
With stamp duty - $521,100
$6,278 per sqm
Rates $2,200 a year; body corporate $5,950 a year
Assume rent of $570 a week ($520 a week after agent's fees)
Net return per year - $18,890 per year before interest (3.6% return).
Apt 185, 1 bed plus study, 1 car park, 81 sqm, $489,000
With stamp duty - $504,540
$6,229 per sqm
Rates $2,200 a year; body corporate $5,950 a year
Assume rent of $530 a week ($485 a week after agent's fees)
Net return per year - $17,070 per year before interest (3.4% return).
Apt 123, 2 bed 2 bath, 1 car park, 110 sqm, $689,000
With stamp duty - $713,030
$6,482 per sqm
Rates $2,447 a year; body corporate $6,600 a year
Assume rent of $660 a week ($610 a week after agent's fees)
Net return per year - $22,673 per year before interest (3.2% return).
Meriton's Soleil - new apartments (not riverfront)
Apt 5301, 2 bed 2 bath, 1 car park, 87 sqm, level 53, list price $627,000, but may discount to $615,000
Stamp duty refunded by developer
$7,068 per sqm
Rates $2,400 a year; body corporate $5,200 a year
Assume rent of $700 a week ($665 a week after agent's fees)
Net return per year - $26,980 per year before interest (4.3% return).
Assume that you can lock in an interest rate of 5.55% for 3 years (e.g., with BOQ), then you will be making a loss on all these investments after interest payments.
The above also assumes that these apartments will sell at the list price, which is an incorrect assumption, so the returns will be slightly better than stated above.
Saturday, April 14, 2012
Macrossan Residences Sale
"Were Selling for up to $3M, Now Priced from $1.395M to $1.575M"
(I suspect that the real estate agent is exaggerating slightly - I doubt that the same apartment that Con purchased would sell for less than $1M. So the million dollar discount is a bit of a stretch. Video here.)
These discounts make it hard for an original buyer to resell without making a huge loss.
In any event, even these discounted prices are high for a 3 bedroom apartment that is not riverfront and that is sandwiched by Skyline and Soleil.
Saturday, January 21, 2012
Soleil Review
I visited a one bedroom apartment. It was very small. Basically, two rooms. A small bedroom, and a living room with a kitchen along the wall. So really, a bedroom and a kitchen. The kitchen/living room/dining room was very crowded even with the minimal hotel furniture. You were sitting very close to the TV when on the sofa.
There are no balconies, and the windows only partly open.
No ducted airconditioning. There is a split system, with an ugly head-end in the living room.
There were strange bangs and mysterious deep noises coming from the walls and the common hallway areas. I could not determine what these noises were, but they were very annoying.
Overall, my opinion is not positive. I was very unimpressed.
The building has a Facebook page, if you want to become friends with this apartment building.
Sunday, November 27, 2011
Chinese Retreat
Triguboff believes that the sharp cutback in Chinese apartment demand will probably reduce apartment prices in Sydney by about 10%, but the prices will not collapse. He believes that a fall in apartment prices will flow on to the whole dwelling market in Sydney."
Full story here.
Harry Triguboff is the owner of Meriton, that is developing two massive apartment towers in Brisbane, Soleil and Infinity, where most of the buyers are reported to be Chinese. It is uncertain what impact China will have on the Brisbane apartment market.
Friday, November 18, 2011
Soleil's Pricing Not Holding Up?
Another blog reports that Meriton's list prices for Soleil are decreasing (I have not verified these numbers):
"1 July
Studio $350,000
1 Bedroom $380,000
25 July
Studio $340,000
1 Bedroom $375,000
11 August
Studio $330,000
1 Bedroom $365,000
1 November
STUDIO $306,000 - $325,000
1 BEDROOM $325,000 - $445,000
2 BEDROOM + CAR SPACE $565,000 - $818,000
2 BED + STUDY + CAR SPACE $653,000 - $689,000
3 BEDROOM + 2 CAR SPACES $750,000 - $877,000
4.5% Vendor Finance
$10,000 QLD Building Boost
$17,000 First Home Owner Bonus"
Listed on Domain today:
- 1 bed, no carpark - $403,000
- 2 bed, 2 bath, 1 carpark - $569,000 to $818,000
- resale by overseas buyer: Apt 5204, 2 bed, 2 bath, 1 car: $590,000 negotiable
- resale by overseas buyer: Apt 4803, 2 bed, 2 bath, 1 car: $630,000
Tuesday, September 20, 2011
Meriton Soleil to operate as hotel
"Meriton Serviced Apartments will launch our in-demand and much anticipated hotel-style accommodation in Brisbane City in September 2011. Meriton Apartments two high-rise developments will change the Brisbane skyline and our serviced apartments will bring a fresh and much needed option to the city for both business and leisure travelers."
See Meriton website
Saturday, August 20, 2011
Soleil Update
Meriton's Soleil building in Adelaide Street, Brisbane, appears to have reached full height. It is tall and skinny. The building is 74 floors, 234 metres, and has 464 apartments. Meriton is not selling the top 10 floors or so, and will rent them out (I suspect on a short term basis).
- Apt 1802, 1 bed, 51 sqm = $402,000
- Apt 2207, 1 bed, 51 sqm = $426,000
- Apt 2703, 2 bed, 70 sqm = $572,000
- Apt 5701, 2 bed, 80 sqm = $807,000
- Apt 5002, 3 bed, 103 sqm = $852,000
Saturday, July 30, 2011
Harry is Happy about Soleil
He explains with more than a hint of satisfaction how the Australian property dream is changing -- trading up, he argues, from the quarter-acre block in the suburbs to an eyrie in the centre of town.
His 74-storey Soleil tower, at 280m, will be Brisbane's tallest building by the time it is completed this year. But its record will stand for only three years, as Mr Triguboff is building an even bigger residential tower on the other side of the Brisbane CBD.Soleil will be Australia's eighth tallest building when it opens later this year, but there are several within metres of each other. Soleil will be able to house 2000 people, right on the edge of the CBD, while it would take about 500 homes, the equivalent of a small suburb, to house them in detached cottages. The Brisbane inner-city high-rise market, where Mr Triguboff will soon be king, has had two major tower proposals withdrawn in the past few years, with developers unable to get either the finance or the customers. "I think a thing like this should be self-funded, because otherwise you have all these banks worrying and pushing you," he said."It's hard to say what the market's like, because you build this building for a few years, so when you start it could be very bad and when you finish it could be a lot better."Property analysts say that, with the limited number of developments this year, the increasing demand predicted by Mr Triguboff means rental rates for apartments in the inner city are likely to rise."
Full Story in The Australian and video
With 2000 people in Soleil, I hope Harry has included enough elevators!
Wednesday, June 1, 2011
Monday, May 23, 2011
Most Popular Posts
Thursday, April 21, 2011
Off-the-plan apartment risks
"Our (real estate) market is the Chinese market, just like coal and iron ore," Mr Triguboff said.
"We need lower interest rates so that our dollar drops and it stimulates growth."
Mr Triguboff, whose Meriton Apartments builds more than 1000 units a year, said Chinese owners and investors had accounted for about 75 per cent of Meriton sales for the last two to three years.
But in the past month, numbers had fallen steeply. ..."