Surfers Paradise reduced from $895 to $690

shuggy

shuggy

I saw this ad for a unit in Avalon complex in Surfers Paradise.
Looks like the new apartment complex on the Gold Coast is getting hit hard... or maybe the seller is getting desperate!

Please note this is not my place for sale nor do i have any interest in it, just thought i'd share for those that are interested :)

http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=105357618&rsf=ebrochure-to-property-details-page

MUST SELL.!! Avalon Riverfront Apartment on the 25th level. NEVER BEEN LIVED IN!!
Liquidated to $690,000
Our overseas owner has instructed us to sell this outstanding, new riverside apartment, and sell it quickly. So it is priced exactly to do that.

Paid early 2008 - $895,000
On the Market - $690,000
You Save - $205,000
If you have been considering a new apartment of this calibre you will struggle to find anything close to this under $1 million dollars!!
This apartment has NEVER been lived in.

Avalon Riverfront Apartments is situated right in the heart of Surfers Paradise on the corner of Ferny Ave and Wahroonga Place, giving you immediate access to Circle on Cavill, the Nerang River, an abundance of local bars (including the new Titanium Bar - home of the NRL Gold Coast Titans), alfresco cafes, clubs, restaurants, distinguished clothing stores and of course, the world famous Surfers Paradise beach!
All of this is right at your door step.

Features:

* 133sqm
* 2 bedrooms
* En-suite with spa bath
* Huge living area.
* Ducted Air-conditioning – reverse cycle
* 2 balconies
* Stone bench tops in kitchen and bathrooms
* Sparkling heated pool & Spa
* BBQ facilities
* 2 Club lounge rooms to host private parties
* Gymnasium
* Steam room & Sauna
* In- house cinema lounge
* Undercover parking
* State of the art security
* On-site manager
* Transport out the front door.
* Body Corp approx $83p/w
This is a must see apartment !!!
Inspection by appointment

This stunning apartment is located on the riverside 25th floor and has never been lived in.

Architecturally designed -everything is as new and will no doubt strike you with its state of the art facilities and world class location! The apartment itself boasts 280’ views- including ocean, hinterland, river and the fabulous Broadwater. This is a property worth inspecting.

105357618al1231293017.jpg
 
Had a look at a few in there a few months back, at the time it seemed that the asking price and what you could get one for were about 150K apart.:confused: Sensational building and apartments though. Probably a great buy at 690K, but only a ??? would pay 895K for it.
 
I would say that $690k is still way to expensive for a 2 bedder.

Its not New York.....

shuggy said:
I saw this ad for a unit in Avalon complex in Surfers Paradise.
Looks like the new apartment complex on the Gold Coast is getting hit hard... or maybe the seller is getting desperate!

Please note this is not my place for sale nor do i have any interest in it, just thought i'd share for those that are interested :)

http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=105357618&rsf=ebrochure-to-property-details-page

MUST SELL.!! Avalon Riverfront Apartment on the 25th level. NEVER BEEN LIVED IN!!
Liquidated to $690,000
Our overseas owner has instructed us to sell this outstanding, new riverside apartment, and sell it quickly. So it is priced exactly to do that.

Paid early 2008 - $895,000
On the Market - $690,000
You Save - $205,000
If you have been considering a new apartment of this calibre you will struggle to find anything close to this under $1 million dollars!!
This apartment has NEVER been lived in.

Avalon Riverfront Apartments is situated right in the heart of Surfers Paradise on the corner of Ferny Ave and Wahroonga Place, giving you immediate access to Circle on Cavill, the Nerang River, an abundance of local bars (including the new Titanium Bar - home of the NRL Gold Coast Titans), alfresco cafes, clubs, restaurants, distinguished clothing stores and of course, the world famous Surfers Paradise beach!
All of this is right at your door step.

Features:

* 133sqm
* 2 bedrooms
* En-suite with spa bath
* Huge living area.
* Ducted Air-conditioning – reverse cycle
* 2 balconies
* Stone bench tops in kitchen and bathrooms
* Sparkling heated pool & Spa
* BBQ facilities
* 2 Club lounge rooms to host private parties
* Gymnasium
* Steam room & Sauna
* In- house cinema lounge
* Undercover parking
* State of the art security
* On-site manager
* Transport out the front door.
* Body Corp approx $83p/w
This is a must see apartment !!!
Inspection by appointment

This stunning apartment is located on the riverside 25th floor and has never been lived in.

Architecturally designed -everything is as new and will no doubt strike you with its state of the art facilities and world class location! The apartment itself boasts 280’ views- including ocean, hinterland, river and the fabulous Broadwater. This is a property worth inspecting.

105357618al1231293017.jpg
Click to expand...
 
it might be one of those ! uno! rais the price by 200k so we can slash it by 190k , up here i M'bah at the moment and i have not seen it so dead, cooler yes , but gee its like a goest town compared to the last few years we have stayed here, empty comercial every where??:confused:
 
Simo74, a similar sized apartment in Manhattan (NYC) are fetching in the vicinity of USD1.5 million. GC has a ways to go.

I would offer them $550k - see if the seller is really desparate.
 
NedKelly said:
Paid early 2008 - $895,000
On the Market - $690,000
You Save - $205,000

O.K. Malcolm, I'll buy two and save $410,000!
Click to expand...

Funny! thats how my wife saves money??
buy on pair of shoes for $100 and the other pair are only $20 so she saved $80 still cant see it in the bank account though!
i will see if she wants to save 400k this wk :D
 
Actually it doesn't meet my basic standards of comfort, silly things like curtains (maybe you can get used to parading around in the nude when you're 25 stories up, but not for me), storage, large practical kitchen etc.

By the time you get to the ground floor there I would have got to the newsagents and back here.
 
shuggy said:
Yes it does sound a tad excessive at $5,200 a square meter and with body corp at $4,300 p.a.
Click to expand...

just wondering what you think the raw construction price for this would be? In WA it would be about $2500sqm gross area, so say $3400sqm net, plus dev margin say 20%, dev costs, land, interest, stamp duty, govt imposts etc
 
Ausprop said:
just wondering what you think the raw construction price for this would be? In WA it would be about $2500sqm gross area, so say $3400sqm net, plus dev margin say 20%, dev costs, land, interest, stamp duty, govt imposts etc
Click to expand...

Good question. It is 32 levels and i think there are about 130 apartments.
From memory the land was bought for $6.5 mil. Average price per unit is probably about $550-650k.
 
Surfers is starting to get the the reputation of being one of the worst places to live on the goldcoast, no wonder they are having trouble shifting the apartments there!
 
gwk said:
Surfers is starting to get the the reputation of being one of the worst places to live on the goldcoast, no wonder they are having trouble shifting the apartments there!
Click to expand...

Rubbish, there are much worse places, most of them south from Broadbeach.
 
Terrible parking, fights, glassings, poor restaurants, poor service, shops closed down as businesses don't want to be there, rubbish in the streets, trashy tourist shops.. need I go on.
 
You gotta take the good with the bad in Surfers (or any major tourist area). Not for everone, I know, but as far as Aussie tourists destinations go, Surfers Paradise is the big one.
Millions go there each year and love it.
 
gwk said:
Terrible parking, fights, glassings, poor restaurants, poor service, shops closed down as businesses don't want to be there, rubbish in the streets, trashy tourist shops.. need I go on.
Click to expand...
i have to aggree , with this , do i feel safe their NO! nasty place , prefr further up with out the trashy shops,
 
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