Bees Nees City Realty
The Buzz

Archive for April, 2010

Posted by admin on 29 April 2010

It’s been a South Brisbane landmark for 100 years and the old Croquet Club at 91 Cordelia Street is about to get a little busier! It’ll soon undergo a huge overhaul, creating a fantastic venue for hire by local community groups and organisations for meetings, functions and events.

The Club refurbishment and management is a project of the West End Community House, a fabulous not-for-profit centre that provides a range of services and activities for local residents.

The South Brisbane Croquet Club was formed in 1902 and the pic below gives you some idea what a day out it must have been!

The original clubhouse burned down in 1959 with the current building completed a year later. On Wednesday April 21st Bees Nees hosted a special preview for members of the local property industry to hear more about the project. The night raised over $2700 toward the refurbishment project. We’re looking forward to seeing this piece of local history take on a new role for the community!

a less formal event at the Clubhouse 2010!

Posted by admin on 29 April 2010

Some exciting recognition for the Bees Nees team today with BRW Magazine naming the agency in its “Fast Starters” list for 2010, one of Australia’s 100 fastest growing start-up companies.

Bees Nees City Realty is the only real estate agency recognised and one of just 15 young businesses from Queensland to make the list. According to BRW the 2010 Fast Starters are faster growing and have higher turnover and more confidence about their success than ever before. The magazine had key selection criteria and for start-up businesses to have qualified, they must have commenced trading after June 30 2005.

Rob Honeycombe founded Bees Nees in 2006 and says he’s delighted with the national recognition.

“We’re a service business so we’re entirely reliant on the professionalism and attitude of our team members. We’ve been very fortunate to attract some of the best in the industry and to then have clients give us an opportunity to work for them.”

“Growth is really important to us. But we don’t want to be the biggest real estate agency in Brisbane – just the best.”

Posted by admin on 28 April 2010

Mirvac's first South Bank apartment project, Arbour on Grey

It’s a bit like fishermen living near the ocean I guess. Sometimes your work just draws you closer.

So we weren’t surprised by the latest news that one of Australia’s largest property developers, Australand, will soon call South Brisbane home (or their Queensland office at least), moving to 154 Melbourne Street. Those in the development industry can see the exciting future of South Brisbane and West End real estate and it’s drawing them like bees to the honey!

South Brisbane already has home offices of development heavyweights Mirvac and Stockland as well as the Pradella Group, one of Queensland’s largest and the most active on this inner city peninsula.

Posted by admin on 27 April 2010

Despite the number of rental homes still dropping in Spring Hill and the CBD latest data shows recent growth of the rental pool in Brisbane’s overall inner city. After 3 years of shrinking supply tenants now have more properties to choose from, largely due to investors returning to the sales market. So it’s no surprise that rents in postcode 4000 decreased slightly in the March 2010 quarter, with median rent for a 2 bedroom apartment down $10 to $530.

The past year has effectively seen no rent increase but despite some tenant job losses for the most part though the area proved resilient and it’s the corporate and executive rental markets that have been most effected. There’s a much smaller number of rented houses in the area and their rent also dropped – now $475 for a 3 bed.

This is still far and away the most expensive rental destination in Brisbane and the stable rents confirm that the area needs more new apartments to fill demand. While the new developments of 2003 to 2006 did boost supply enormously the number of rental homes on offer to tenants is not growing at the rate needed.While it’s growing across inner Brisbane the CBD and Spring Hill are not getting their share.

Note: RTA stats quoted here cover all of postcode 4000 including Spring Hill and the CBD.

Posted by admin on 24 April 2010

A surprisingly high 65% of renters take more than 3 months to find a home, according to a survey by property portal RealEstateView.com.au

General Manager Petra Sprekos said their site’s users were confirming the view that demand far exceeds supply in the rental market and that finding a rental home can prove extremely difficult.

“Most renters report that they have problems finding a home. A wait of three months to find a new home means that if you only have a lease that is 12 months in duration you would need to spend a quarter of your time looking for a new home.

RealEstateView is now Australia’s 3rd largest property portal but it’s still a largely Victorian site, so these stats don’t necessarily reflect Brisbane’s current rental market. But there is info in here for Brisbane landlords, especially on the price-sensitivity of tenants.

“The survey also found that renters knew they had to be flexible if they were to find a home with more than half willing to look in other suburbs or for homes without the features they wanted. One in ten will even look at share accommodation to find a place to rent and just under half will increase their budget.”

“It shows that renters will trade quality and location before they increase their budget.” Petra Sprekos concluded.

Posted by admin on 23 April 2010

Like the look of this building? Might be a new apartment tower in downtown Brisbane? At 26 storeys it should house a whole lot of people, right?

According to OverseasPropertyMall.com this is the world’s first Billion Dollar house! Yes, one home for one family.

Of course that family is led by Mukesh Ambani, an Indian Billionaire petroleum refinery owner worth a reported US$29Billion. According to the site : “the first six floors alone will be dedicated to parking for the Ambani family and their guests. The health level incorporates jacuzzi, yoga studio, dance studio, gyms, changing rooms for his and hers, a juice bar, solarium and perhaps even an ice room to cool off in on hot Indian monsoon months.”

So far it’s bigger than most inner Brisbane apartment buildings! But wait there’s more!

“The entertainment level includes a fully sized theatre, where movie buffs can keep entertained in its snack bar, wine room and a space dedicated to entertaining. A ballroom has a show stopping feature; a crystal handelier that takes up about 80% of the ceiling. It further includes a stage, projection screen and a massive hidden kitchen that can cater to hundreds of guests.”

Yeh, but who has that many friends?!!

“The lobby alone has nine elevators designed to serve all kinds of purposes. Two are designated for parking lots, two for the Ambani family, two for service and three for all the guest quarters.On the top floor Ambani is planning to entertain clients and guest with panoramic vistas over Mumbai. All up, there will be 400,000 square feet of entertainment space.”


Posted by admin on 23 April 2010

Friday’s are for fun so here’s this week’s joke:

During a recent PASSWORD AUDIT at the Bank Of Ireland it was found that Paddy O’Toole was using the following password:

MickeyMinniePlutoHueyLouieDeweyDonaldGoofyDublin

When Paddy was asked why he had such a long password he replied, “Oi was told me password had to be at least 8 characters long and include one capital”!

Posted by admin on 22 April 2010

As the Bees Nees’ specialist in Brisbane’s Spring Hill I spend a lot of time in the suburb’s apartment buildings. In this series of posts on Spring Hill apartments I’ve profiled some of them to give you a taste of life in this exciting suburb!

Tribeca Apartments – 292 Boundary St, Spring Hill

Number of apartments 62
Developer Ozton Pty Ltd (Terry Agnew’s Tower Holdings)
Size and previous land use Carpark and beer garden of the St Paul’s Tavern
Year of completion 2003
Number of 1 bedroom apts 35
Number of 2 bedroom apts 27
Amenities Undercover ‘alfresco’ pool, gymnasium, spa and sauna
Other comments Named after a New York City neighbourhood known as “Triangle Below Canal Street”; 9 storey with majority of apartments facing north; several apartments are rented in a short-term pool
Recent sales June 2009 1 bed $340,000; February 2009 2 bed $437,100 For an estimate of the current sale price of your apartment please call Richard Fleming on 0404 397117 or email richardf@beesnees.com.au
Current rents 2 bed rented in September for $470; For an over the phone estimate of current rents in Oxygen please call our Property Management team on 07 3214 6899 or email info@beesnees.com.au
Views and aspect? A typical floor has 8 apartments and 5 of these face north with good, elevated views toward Fortitude Valley

The north-facing facade of Spring Hill's Tribeca Apartments

Each of the Tribeca Apartments has a large balcony

Do you live in the Tribeca apartments? Tell us what you think – we’d love to hear your comments!  For more info or an estimate on the current market price of your Tribeca apartment please call Richard on 0404 397117.

Posted by admin on 22 April 2010

The big news in the latest data is the recent growth of the rental pool in Brisbane’s inner city. After 3 years of shrinking supply tenants now have more properties to choose from largely due to investors returning to the sales market. So it’s no surprise rents dropped $30 in the March 2010 quarter, with median rent for a 2 bedroom apartment now $370.

The new buildings added to the area in recent years did skew the stats with their higher rents but overall landlords can have some comfort that we’ve endured tenant job losses and the First Home grant and rents should climb again. This is already the case for house owners – their rent actually rose $55 this past quarter – now $435 for a 3 bed.

While the new developments of 2003 to 2006 did boost supply enormously the number of rental homes on offer to tenants is still not growing at the rate needed. There’s only 1,343 rentals in the area and Brisbane’s strong population growth (more than 52,000 last financial year) means we’ll need new apartments soon if we’re to meet that demand.

Note: RTA stats quoted here cover all of postcode 4102 including Dutton Park and Woolloongabba.

Posted by admin on 21 April 2010

Tapestry of the Original TorbreckThis one caught my eye last time I was in the lobby at Torbreck. Hung proudly for the residents and visitors to enjoy, the inset writing reads “Tapestry of  original “Torbreck” 182 Dornoch Terrace, Highgate Hill built in 1875 demolished in 1958. Tapestry by Miss Julie Moynihan, long time resident of Torbreck. Donated 2009.” Not many locals can remember what was there before the first ever high-rise was built but it’s obviously dear memory to Julie.

Do you have pieces of Art showing a local landmark?