Nicholson Apts in East Coburg by VicUrban

Has any one bought an apt at the VicUrban project in East Coburg known as Nicholson? I am planning to buy a 2 bedder with one bath which are costing from $425K and the settlement is in Feb/March 2011. I think the location is ideal for an investment property and would love to hear comments from others. But the body corporate fee seems to be expensive - quoted as between $2800 and $3600.
 
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