Purchase off plan and seeing the reality - Newport Quays Adelaide

Well, after 2 years in the making, the development of the first stage of Newport Quays on the Port River is starting to settle.

We purchased off the plan just over 12 months ago, and today we had our pre-inspection.
We plan to rent out for a few years then downsize when the kidlets move out.

I will post some piccies on the forum in the picture place.

On the way my dear hubby said, I hope we have the right one - because the way the plan in the office was drawn, our apartment was listed as being in the middle of the block.

Wow! We knew the apartment had a nice view but there are villas in front and we were concerned they were getting too high and would block our view. But it is fabulous, overlooking the River, parklands (still mud at this stage) and the new Marina. Views of the water (views, not those 'glimpses') from our bedroom, second bedroom, lounge and balcony. North facing so the sunshine was streaming in! Gorgeous. We had a sneaky at the apartment next door through their open doors, that one faces south and so appeared dark and cold. We had the choice of either but we definately chose the right one, although their kitchen was a little bigger.

I am so deficient when it comes to reading plans (like reading a street map I guess:eek: ) so even though I knew the plan off by heart, the reality still surprised me.

Now, to get some curtains and some tenants!
 
Well done Pushka! Might have to take a drive down there and check the area out one weekend soon. You've probably already mentioned this in previous posts, but how much did you pay?

Cheers
Steve
 
Some of the villas have already settled and were open for inspection (ie for sale) on the weekend. Wont go into exactly how much we paid but 2 bedroom 2 bathroom apartments with Marina berths were selling from around $650 - $750k and ours was somewhere in the higher end! The Marina is on a separate title and valued at around $50k in their own right on the contract, and one is now for sale at $99k - dreaming to get that price I think!; our super fund will own one of these and we personally will own the other. Not sure if we would have bought it purely as an Investment for rental, but we have always wanted to live where we can see the water, so we saw it as a tax efficient way of getting that dream. Now kids, up to you!

Go for a look Steve - check out Toops website as that is where the houses were being sold through. Still a building site in part but you can certainly get closer now.

They will have to fix up the railway station behind; and folks, Ethelton will be THE place to buy a larger home and block - bargains to be had and gains to be made!
 
This was the price for front ones, there are many others selling for around the 300k mark, which, when all the landscaping is done will look fantastic as they are all going to be part of the same community and all get access to the gym and pool. Yeh, the bank owns most of it, and some of our house too! But our home value will more than keep up with the growth at Newport, so when we downsize, we will pay able to pay off the loans on it. So I guess we wont be so much downsizing in $$$ but only in size!
 
Photo on page 2 on the Advertiser today is taken from our apartment balcony...........I think

This is one we took from inside the lounge room this afternoon. Even the red tractor hasnt moved!
 

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Good Old Port

Hi Pushka,

great to hear how happy you are with your purchase. I love the old Port, and the new Port. It has much more character than Cement City Glenelg.
I always take my interstate friends on a drive fm the Port area to Glenelg, and they always like seeing the beach on the beach road, instead of apartments lining the beach.........
When I do retire, and decide to sell up everything, I hope to be able to buy there as well........
 
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