City Living Boost...

[Tamara (Homes Down Under)]

Lots of development happening in the city at the moment.

 

[h=1]U2 Adelaide CBD project hauls in $25m in sales in one day[/h]

• RICHARD EVANS COMMERCIAL PROPERTY
  
• THE ADVERTISER
  
• MAY 05, 2015 11:16AM
  

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CITY living in Adelaide is about to take a significant upturn after an extraordinary sales launch of Adelaide’s newest city apartment development last Saturday.

One hundred and seven apartments, of 257 available at the U2 development on Waymouth St, were sold at the launch, which attracted 300 pre-registered buyers to Adelaide’s Intercontinental hotel.South Australian property developer, Datong Australia, which is behind the construction of the 25-storey building, said Saturday sales of the one, two and three bedroom apartments amounted to around $25 million.Datong brand manager Zac Mengliang Yu said the rooftop gym, sauna, spa and cinema, available to all purchasers and to be known as Utopia, had proved a huge attraction to would-be buyers.

New U2 building on Waymouth St, Adelaide.

 

 

 

“There is no need to worry about the view from any level as all residents will have access to the free rooftop terrace,” he said.Prices climb in tandem with the level of apartment he said, with floors 12, 16 and 17 already sold out. The CBD location and price were key determinants in buyer interest said Mr Mengliang Yu.Each floor has 14 apartments with the identical design and style replicated on every level. Car parking for 137 spaces is available, on levels one to four, for buyers of the two and three bedroom apartments and there will be a restaurant on the ground floor as well as a mini 24/7 supermarket.A novel “dual key” option gives buyers the chance to buy two like for like, and adjoining, apartments under one title which allows the buyer to rent out one apartment or take advantage of the secure interconnecting door by converting the studio into a two-bedroom apartment, offering additional privacy between living and bedroom spaces.A unique 3D display unit — to be available as an app from next week — was used by Datong display centre manager Sean Guo on Saturday to give buyers an idea of the view they can expect from each window on each floor in addition to offering a virtual walk-through inspection of their new pad.Sales demographics had pivoted equally between investors and buyers intending to live in the properties said Tony Matthews, general manager at Connect Real Estate Urban Projects which is marketing the U2 development.“I have not seen this level of interest or activity in a new development since pre GFC,” he said.Potential buyers were looking from the eastern seaboard across to Adelaide, he said.“You can buy three of these apartments for the price of a median property in Sydney. Adelaide is on the radar now as a place for buyers.”Buyers to-date have been a mix of South Australians, interstate and overseas parties, he said.Prices range from a one-bedroom apartment from $298,000 through to a three bedroom option at $597,000.Construction began last month and is expected to be completed by mid 2017.

[notpom]

Shivers go down my spine when I think that one day all these people might go into same psychiatric hospital with me.

 

One day I have attempted to write down all the reasons why people in their right mind shall not buy apartments(flats). After 500 pages I had to give up.

First line in this masterpiece was: "It is only land that appreciates. Buildings DEPRECIATE. When you buying an apartment you do not buy land. You buy some air space filled with building materials".

 

If I was writing with Adelaide in mind first line would have been "Never buy an apartment in places where there is no culture of living in apartments."

 

We are now in property boom. But not the units /apartments.

 

http://www.adelaidenow.com.au/realestate/news/slow-and-steady-the-key-to-sa-home-value-growth/story-fni0ci8n-1227330928984

 

 

Very nice symmetry, is not it? Units went down by absolutely the same number as houses went up.

 

Special thanks to Tamara. I am now extremely tempted to buy an upmarket subwoofer and offer it as a prize to a resident of this U2 development who wins the writing contest "Why I want this subwoofer". The winning line would be "Because I like to play rap on full volume after midnight".

[Diane]

Hope they take a look at these http://www.huffingtonpost.com/2015/04/23/future-apartments_n_7117474.html

[zebedee]

Shivers go down my spine when I think that one day all these people might go into same psychiatric hospital with me.

 

One day I have attempted to write down all the reasons why people in their right mind shall not buy apartments(flats). After 500 pages I had to give up.

First line in this masterpiece was: "It is only land that appreciates. Buildings DEPRECIATE. When you buying an apartment you do not buy land. You buy some air space filled with building materials".

 

If I was writing with Adelaide in mind first line would have been "Never buy an apartment in places where there is no culture of living in apartments."

 

We are now in property boom. But not the units /apartments.

 

http://www.adelaidenow.com.au/realestate/news/slow-and-steady-the-key-to-sa-home-value-growth/story-fni0ci8n-1227330928984

 

[ATTACH=CONFIG]9229[/ATTACH]

 

Very nice symmetry, is not it? Units went down by absolutely the same number as houses went up.

 

Special thanks to Tamara. I am now extremely tempted to buy an upmarket subwoofer and offer it as a prize to a resident of this U2 development who wins the writing contest "Why I want this subwoofer". The winning line would be "Because I like to play rap on full volume after midnight".

 

 

Do you sleep with your property portfolio? Give it a little kiss and a cuddle before turning the lights off? Night, night my portfolio....

[notpom]

Do you sleep with your property portfolio? Give it a little kiss and a cuddle before turning the lights off? Night, night my portfolio....

 

Hmmmmmm.......

It seems like you are trying to to hint that you think of something more important.

 

Ok. let's do some analysis and list the most important things in human life in a descending order.

 

1. Ability to empty bladder and bowels (if you do not agree, just do an experiment - how long you can hold on )

2. Having roof over your head

3. Water

4. Food

5. Sex

 

The rest is more or less depends on personal taste.

 

According to you, I constantly think of the item 2 on this list. And your thoughts are set on something that has higher priority.

 

Congratulations.

[Tamara (Homes Down Under)]

Shivers go down my spine when I think that one day all these people might go into same psychiatric hospital with me.

 

One day I have attempted to write down all the reasons why people in their right mind shall not buy apartments(flats). After 500 pages I had to give up.

First line in this masterpiece was: "It is only land that appreciates. Buildings DEPRECIATE. When you buying an apartment you do not buy land. You buy some air space filled with building materials".

 

If I was writing with Adelaide in mind first line would have been "Never buy an apartment in places where there is no culture of living in apartments."

 

We are now in property boom. But not the units /apartments.

 

http://www.adelaidenow.com.au/realestate/news/slow-and-steady-the-key-to-sa-home-value-growth/story-fni0ci8n-1227330928984

 

[ATTACH=CONFIG]9229[/ATTACH]

 

Very nice symmetry, is not it? Units went down by absolutely the same number as houses went up.

 

Special thanks to Tamara. I am now extremely tempted to buy an upmarket subwoofer and offer it as a prize to a resident of this U2 development who wins the writing contest "Why I want this subwoofer". The winning line would be "Because I like to play rap on full volume after midnight".

 

 

So I guess that you wouldn't be in favour of this?

 

Property Council says vacant office space on the city fringe should be transformed into residential living

 

 

 

• CELESTE VILLANI
  
• EASTERN COURIER MESSENGER
  
• APRIL 27, 2015 4:07PM
  

 

 

 

Property Council executive director Daniel Gannon says vacant buildings on the city fringe should be transformed into residential living. Picutre: Sam Wundke

 

 

 

VACANT and ageing office space on the city fringe should be redeveloped as residential apartments, the Property Council says.

 

SA Property Council executive director Daniel Gannon said largely vacant buildings on Greenhill and Fullarton roads and Dequetteville Tce should be transformed into student housing, apartments, retirement living or hotel accommodation.

The Property Council of Australia’s latest biannual Office Market Report showed about 16 per cent of older office space along the three roads was vacant as of January this year, up 7 per cent in the past two years.

“The property sector has a great opportunity to transition the ageing Adelaide fringe commercial building stock into prime, multi-residential redevelopments,” Mr Gannon said.

“At a time when manufacturing, defence and mining are facing significant industry challenges, the property sector has an opportunity to return the state to a pathway of prosperity.

“One way to do this is to stimulate the sector through migrating ageing commercial stock into prime, residential redevelopments.”

Vacancy rates for all office space, including newer buildings, rose from 6.1 per cent to 8.3 per cent over the same period.

About 40 offices on Greenhill Rd, 15 on Fullarton Rd and one on Dequetteville Tce are currently advertised for lease online.

A further 1500sq m of office space is expected to enter the market over the next quarter.

Real Estate Institute of SA chief executive Greg Troughton said he would like to see ageing properties updated to reinvigorate the area.

MORE: Million dollar housing boom as residents leave leafy east in favour of beachside living

“Ultimately something needs to be done with quite a bit of that ageing stock,” Mr Troughton said.

“There is certainly an opportunity to look at residential development.

“But whether they should be redeveloped into modern, commercial properties or whether they should be redeveloped into multi-residential apartment living … the market needs to decide.”

Under the State Government’s 30-year plan, eastern Adelaide – which includes the NP&SP, Campbelltown, Burnside, Unley and Prospect districts – is expected to grow by 37,700 people by 2038.

However, many residents are opposed to any new high-rise development to accommodate the growing population.

NP&SP urban planning and sustainability officer Eleanor Walters said the council supported reuse of older buildings on Dequetteville Tce.

Unley Council chief executive Peter Tsokas was supportive of any development consistent with planning policy.

“There is some scope for redevelopment of older buildings along Greenhill Rd,” Mr Tsokas said.

[notpom]

So I guess that you wouldn't be in favour of this?

 

 

Somewhere deep down I am very sensitive and compassionate person. The only thing - it is very hard for me to determine size of the excavator that can reach this deep.

 

I shall feel for poor souls that invested in this office space, but for very selfish reason I can not force myself into it. Few years back one of these "investors" went to extraordinary lengths to prove to me that I am an imbecile not to invest into commercial property. He did not ant to listen that there are many more reasons that are much more interesting and exciting to diagnose me with the condition.

 

And now we have this - people totally giving up on commercial buildings.

 

Ok - back to your question Tamara. There are many ways to skin the cat, especially in Real Estate. Say if you feel comfortable in your niche of providing short term accommodation for new arrivals - investment into redeveloped commercial property might be right for you and my opinion is irrelevant.

Nobody went broke by making profit.

 

I do slightly different thing - investing in property I can squeeze the max amount of money - through rent, capital growth, renovations, subdivisions, etc

 

But the only wrong way to invest in Real Estate - is not to invest in Real Estate.

 

"Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness [and six pence]. Annual income twenty pounds, annual expenditure twenty pounds and six, result misery."

Charles Dickens, David Copperfield

[chrisda]

Bloke makes a lot of sense sometimes!