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We paid $40K under the asking price (which was overpriced anyway) but I don't feel we paid big $$ for a view. We paid a premium yes but not big $$. Considering there's new development directly in front already, there's very little chance of ever losing the view from the 8th floor. As for...

It definitely bothered me that it was over the median (and I knew this at the time) but what premium do you put on a view?

Sorry - I'm missing something. Relies on the first statement? Not sure what you're referring to.

Thanks Kristine. The history / heritage aspect had a HUGE amount to do with it. I visited Pentridge when it was a working prison - unfortunately to see my brother :( There's a weird feeling of justice at being able to buy there now that I can't quite explain in words.

OTP suited my personal needs better. My first in Richmond (mix PPOR/IP - long story) was OTP as well and worked out just fine. When completed the bank valued it at $50K more than I paid, and I bought it late into the project (completed 4 months after purchase) so it's worked out just fine for me...

So I bought OTP in Coburg at Air Pentridge about six weeks ago. The ave price for a 2BR in Coburg seemed to be around $420-$440K and I paid $530K. What I hear you ask? Yes I KNOW it's above the median and OMG it's in a hi-rise what was I thinking? Well... it DID have an amazing view of the city...