acacia on the park - northcote apartment building

[jerky]

Hi All

Anyone had a look at these? I'm going to go have a sticky beak this weekend.

http://www.acaciaonthepark.com.au/

They made it look really nice, I am tempted to buy as a ppor. No idea when it is scheduled for completion yet though...

Just wondering if anyone had any thoughts

Jerkygirl

 

[valleymist]

Not saying good or bad, but be aware of

http://www.darebin.vic.gov.au/page/page.asp?Page_Id=4806&h=0

"The park has been transformed from the former Northcote Tip. It has gained a reputation as an innovative and successful landfill conversion."

 

[The Y-man]

Check the number of lifts. For a 10 (or so? looking at the pictures) storey building, they are not cheap to maintain, let alone repair. Fir systems in a building like this is not cheap either, nor is security.

However, it is a PPOR proposition, there's more involved here than money.

(yep, this is the tip site. What I find more amusing is where some townhouses have popped up where a church used to be on Separation St, but the church graveyard is still there (right next one of the townhouses...)

Cheers,

The Y-man

 

[jerky]

Thanks for the link ValleyMist, will have a look over that...

YMan, I will try and find out what estimated bodycorp fees are...given what you have said I can only imagine what they must pay in Eureka tower!

cheers,
jerkygirl

 

[The Y-man]

YMan, I will try and find out what estimated bodycorp fees are...given what you have said I can only imagine what they must pay in Eureka tower!

cheers,
jerkygirl

I used to own an apartment in a 27 storey building, with pool and a gym (but no tennis court). From memory, the BC costs were around $3,500 pa. However, as the lifts were approaching their first 5 year check, a sinking fund was established for another $1,000 pa.

There was also security issues (theft, damage, etc) so a security guard had to be employed overnight at $80 per hour plus surveillance cameras.... the list just went on and on and on!

Cheers,

The Y-man

 

[jerky]

Gees Yman, that is steep!

No wonder you said you used to live there and not any more!

 

[The Y-man]

Gees Yman, that is steep!

No wonder you said you used to live there and not any more!

No, it was an Investment Property....ok a Divestment Property .


Cheers,

The Y-man

 

[jerky]

haha nice one.

Do have to wonder though if these blocks of apartments will one day look like the commission housing of yesteryear....well maybe not those ones, they do make it look so pretty! I am still going to stickybeak on the weekend

cheers
jerkygirl