Rhodes in Sydney

My first post, anyone have knowledge of Rhodes. There seems to be many units for sale, would one be a good investment?
thanks
 
... units for sale, would one be a good investment?

One what?
One Off the Plan? One renovated in an older block? One brand new shiny one in a high rise? One for $450K, one for $550K, or one for $750K? :confused:

Depending on your answers to these and other Qs, will depend on the answer you get ;)

Can you be more specific?
 
One what?
One Off the Plan? One renovated in an older block? One brand new shiny one in a high rise? One for $450K, one for $550K, or one for $750K? :confused:

Depending on your answers to these and other Qs, will depend on the answer you get ;)

Can you be more specific?

Was considering either

a recently competed or near completed 1 or 2 bedroom unit at approx $450k

or a renovated 2 bed in an older block in or around the area (Meadow Bank)

Thank you
 
a recently competed or near completed 1 or 2 bedroom unit at approx $450k
$450K IMO is too exy for a 1brm in Rhodes. As a general comment, when you buy brand new you are paying a good profit to the developer. This means you often get very low or no CG for a number of years after purchase.

or a renovated 2 bed in an older block in or around the area (Meadow Bank)
This would be my pick. BUT make sure you do a strata search to make sure there is money in the sinking fund (for repairs) and that the BC is not looking to raise a special levy anytime soon.
 
Rhodes is the location of the most toxic piece of land in the southern hemisphere. The land in question is just a few blocks north of the shopping centre, right next to one of the new residential blocks. I believe it's the one that's surrounded by shipping containers stacked on top of eachother.
 
Rhodes is the location of the most toxic piece of land in the southern hemisphere. The land in question is just a few blocks north of the shopping centre, right next to one of the new residential blocks. I believe it's the one that's surrounded by shipping containers stacked on top of eachother.

I think they got rid of the shipping containers due to the fact that someone had painted one of them with a giant warning "Dioxin waste" that you would see from the train every time you went by.

From what I have seen of those new developments around the shopping centre they all seem overpriced for what they are, and due to the issue of toxic waste in the area I certainly wouldn't want to raise children there.
 
Might be OT, but it's quite similar to Rhodes which is the newly named Wentworth Point. I've seen a lot of new apartments being built, is that piece of land also toxic?
 
I recall the residents of Homebush Bay had a big push a while ago to have the place named Wentworth Point. Of course they said the name had historical links and had nothing to do nothing to do with the stigma of that bay.
 
I think they got rid of the shipping containers due to the fact that someone had painted one of them with a giant warning "Dioxin waste" that you would see from the train every time you went by.

From what I have seen of those new developments around the shopping centre they all seem overpriced for what they are, and due to the issue of toxic waste in the area I certainly wouldn't want to raise children there.

Still one section with shipping containers as this is the last section of soil
cleaning.
Has been a few delays on some of the units as the builders and unions are
looking into builders being contaminated from soil contamination.
 
I did the development assessment for two of the big unit developments out there when I worked for the NSW Dept of Planning...nice architecture and close to shopping but still a strange sort of place and feels disconnected and not quite like right.
 
This area interests me alot.
I've got a friend who has just leased a new property in the area (to give you an indication, its a 2.8% yield for the owner) - great new place with all the facilities but WOW.
From accounts the place is built on landfill - if you look up into the sky (at night its visible) there are plumes of (toxic?) smoke pouring out from below the ground, I'm assuming its the old landfill - for anyone who used to go to the old Eastern Creek Raceway its a similar smell / smoke stream (oh, council/et al say to just keep your doors or car windows up when you smell it and use aircon - that can be confirmed in writing!!).

Disclamier: Above may be heresay and there may be another reason the above special events are occuring??
 
May also be hearsay, but I hear that whoever is developing in Rhodes has to burn the soil to decontaminate from all the landfill, hence the plumes of smoke. Toxic or not? Unsure - but beware.
 
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