Value of private access to apartment block

I am looking to purchase an apartment in South Yarra, Victoria, and am keen to get your opinion on one aspect of its design.

I am not sure of the correct terminology, but the apartment block does not have security access. Anybody off the street can enter the block and walk up the open stairs to the 18 or so apartments within the 3 storey complex. Other similar apartments I have looked at have had security access. In that they have required 2 sets of keys to enter an individual apartment, one for the common entrance and the second for the individual apartment entry door.

I have talked this through with friends and I see the two main issues being:
-personal security (how safe you feel in the block), and
-property security (how safe are your assets and what is the likelihood of theft).

Are there any other issues that I am missing? Are there noticeable differences in the prices of properties with or without security access? Should I avoid one without security access?

Your advice is greatly appreciated.
 
That type of configuration was common in the 70's with most 3 story walk ups having no 'security' door.

This all changed over time and in the 80's they started to get converted with the introduction of intercoms and of course the obligatory security door with auto latch.

The bottom line is that the block you are interested in can be coverted in the same manner at a cost of about $1000 per unit.

So if your purchase price is substantially less than similar unit in blocks that have security then it may proof to be a excellent bargain.

The only drawback is that to date it hasn't been converted and there may be a reason for this, either the residents are to tight and refuse to spend the money or there are physical impediments that restrict the introduction of the standard security arrangement's.

A bit of DD in this regard will clarify the matter.

Cheers
 
The only drawback is that to date it hasn't been converted and there may be a reason for this, either the residents are to tight and refuse to spend the money or there are physical impediments that restrict the introduction of the standard security arrangement's.

A bit of DD in this regard will clarify the matter.

Cheers


May be difficulties in doing the ground floor

eg
http://www.realestate.com.au/cgi-bi...c=&c=94077883&s=vic&snf=ras-mel&tm=1253579377

Upper floors have security entry, but not the ground floor due to layout.

Cheers,

The Y-man
 
Top