Bees Nees City Realty
The Buzz

Posts Tagged with Brisbane apartments

Posted by admin on 12 November 2010

It wouldn’t raise a mention in many parts of the world, Asia and Europe especially. But new stats from the West End State School show 32% of their students are currently living in local apartments. They have 700 students so that’s a lot of non-house-dwelling primary school kids.

Many Brisbanites still see apartment living as the lifestyle of choice for singles and couples only, but that’s clearly not the case. Families are choosing them for their convenience and often for their price.

Even more reason to ensure we have great parks and local amenities.

Posted by admin on 19 August 2010

We often feel we’re at the pointy end of body corp issues,  the time when apartments are put up for sale and the market makes a judgement. There’s no better way of finding out if your body corp fees are too high, your building’s not maintained well enough, the sinking fund’s too low or the AGM and owner relationships are just plain dysfunctional. Buyers can be brutal in their assessment and they’re entitled to be when they’re spending their money. And one issue has been making apartment buyers nervous across Queensland.

We’re delighted to see Fair Trading Minister Peter Lawlor’s move to amend the Act and bring back some predictability to body corp fees. The current Act says lot entitlements must be equal unless you have a good reason and despite knowing the fees when buying in, there’s been a run of apartment owners over recent years going to the Tribunal to ask for a reshuffling of lot entitlements (the numbers used to set your fees). Their own fees have gone down at the expense of their neighbours and in some cases resulted in penthouse owners getting a whopping discount, 1 bedder owners a skyrocketing bill. It made headlines early last year when shots were fired in one Gold Coast building.

The proposed amendments are open for public consultation until September 23rd, and when adopted will lock-in your lot entitlements. Developers will again set interest entitlements according to value of the apartment (as they used to) and we’d expect levies will pretty much follow suit. And importantly the Minister is stopping the ability to move the goalposts later.

Mr Lawlor says, “In the future, the ability to adjust contribution schedule lot entitlements will be limited to all lot owners in a scheme unanimously agreeing to make an adjustment through a resolution without dissent or by unanimous agreement between two or more lot owners to redistribute the lot entitlements for their lots amongst themselves.”

Nice to see some common sense prevailing.

Has your building had its lot entitlements changed? We’d love to hear your experiences.

Posted by Rob Honeycombe on 3 August 2010

Why would both a government and an opposition look to dramatically reduce Australia’s fourth largest export industry? International students are big business for inner city Brisbane and if you’re a landlord or property owner in the area the current election threat to slice their number is likely to have a direct impact on you.

Generating revenue of $19 billion in 2009, a BRW Magazine report says Australia hosted 751,000 international students last year. Those who watch Brisbane’s CBD rental market closely will tell you much of our housing demand has been from this group. It’s no exaggeration to say that whole residential towers depend on students for survival. Take a walk down Albert Street yourself. And this isn’t a new trend

Not to mention the food, travel, entertainment, retail and other industries that benefit. Many of these students are great spenders! Access Economics estimate that for every $1 on education they spend $1.90 elsewhere. Brisbane’s Lord Mayor says this is our city’s largest export service industry and Universities Australia’s CEO says a 50% drop in international students would cost us 60,000 jobs. But Labor’s Sustainable Population Minister says cuts in numbers are warranted and many use their student visas as a “pathway for permanent residency”. The LNP’s Tony Abbott says they’re the “largest contributor to net overseas migration”.

Politics and race aside this is big business for inner Brisbane and especially for property owners. Yes the trend to inner city living is strong but a big chunk of our demand is from international students, especially in the CBD itself. Drop them and we may see a big reduction in rents.

What do you think? We’d love to have your comments.

Posted by admin on 11 May 2010

340 Boundary St, Spring Hill

As the Bees Nees’ specialist in Spring Hill I spend as 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!

Number of apartments 121
Developer Cramwood Developments
Size and previous land use 5247m2; Part of the Metro Ford caryards
Builder Hutchinsons Constructions
Architects Scott Peabody from Planit Architects and Scott Taylor from Terrain
Year of completion 2007
Number of 1 bedroom apts 51
Number of 2 bedroom apts 70
Number of 3&4 bedroom apts 0
Amenities Large central gardens with pool and a gym
Other comments Master planned with the adjacent Oxygen project, Trilogy’s design is focused on the green zone overlooked by the 3 buildings
Recent sales Mar 10 2 bed 1 bth $420K, Oct 09 2 bed 2 bth $540K, Nov 09 1 bed 1 bth $365KFor an estimate of the current sale price of your apartment please call Bees Nees City Realty 07 3214 6800
Current rents 2 bed 2 bath rented in April 2010 for $550 unfurnished $640 furnished,1 bed 1 bath $400; For an over the phone estimate of current rents in  Trilogy please call our Property Management team on 07 32146899 or email info@beesnees.com.au
Views and aspect? Building 3’s upper floors look north toward Royal Brisbane Hospital (the top floor apartments have roof decks to make the most of the views)

The 'Trilogy' Apartments

Trilogy Pool Area

Do you live in the Trilogy 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 Trilogy apartment please call Rob on 0423 332 022.

Trilogy Common Areas

Living Area of a 2 Bedroom Apartment

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 Rob Honeycombe on 2 January 2010

Brisbane apartmentsWe’ve written before about the time required to sit on a body corp committee and our admiration for those who do. It’s thankless work and apartment buildings don’t run efficiently without them.

The big challenge is for committees to consider the needs of all owners and residents of the building. Volunteering to be involved doesn’t give you a right to run the place for your own interests alone.

A recent and worrying trend is for a body corp to issue a “no extra keys” ruling. Security is one of the main attractions to living in many apartment buildings and we understand the need to keep security swipes and keys to a minimum.

But in recent weeks a couple of inner Brisbane apartment towers have issued a new ruling that the body corp will only issue a maximum of 2 security swipes. No more.

The trouble is those owners who rent their apartments may have just been asked to breach the Residential Tenancies and Rooming Accommodation Act.

Section 210 requires the lessor (landlord) to give entry keys (including all swipes/fobs/cards to get in any door) to EACH and EVERY tenant.

So body corps are going to have to learn to live with the needs of their investor owners.

Unless you’d like to tell your owners of 3 bedroom apartments they can only have 2 residents. Or those in 2 bedroom apartments they can’t share a bedroom with anyone…

Posted by admin on 18 December 2009

Our MD Rob writes a regular column for the property pages of OurBrisbane.com Here’s the latest:

Brisbane apartmentIf life is like a box of chocolates, Brisbane’s inner city is the variety pack! Property investors can choose from modern studio apartments for $140,000 or six-pack style apartments from the 1970’s for $350,000. Modern high-rise apartments range from $350,000 to $7 million. Or for those who crave their own piece of dirt, houses are generally priced from $500,000 upwards.

As a property investor do you see yourself as a small business person? You should. Your annual rental income will likely be $25,000 or more, so it’s worth having a good hard look at the rental marketplace and working out what product offering you’re going to make.

Some people dream of owning a riverfront penthouse, but for rental returns they’re lousy. There are not many tenants wanting to spend $2000 per week. Median priced homes are the safest territory as this is where the majority of people live. Around the CBD and surrounding suburbs the going rate is $430-$520/week for a 2-bedroom apartment. Have a look at www.WhatRentMyHome.com.au for median rents in all inner city suburbs.

Tenants don’t have the long term focus of a buyer, so while future improvements like new bridges, tunnels or new shops are all a key part of your capital gain plans, they’re not going to earn more rent for you today. A suburb like Woolloongabba might not earn top rent today, but what if that new subway goes ahead with a station in the suburb linking it directly to the CBD’s Riverside Centre?

We see investing in property as a balancing act, capital gains being the main aim and rental returns important to your holding costs.

So why choose the inner city over a modern house in the ‘burbs? Like many purchasing decisions your location choice is probably more about your own needs than the final property you buy. Is it a set-and-forget investment where you have minimal involvement? Or do you want to add value to the property by spending your weekends labouring at plastering walls or back-breaking paint work? (Okay so I’m giving away some bias here!). Your decision will vary too if you’ll want to make the place your own home one day.

What the inner city clearly offers investors is Brisbane’s largest rental market. We survey tenants regularly and a home’s proximity to their workplace always ranks highly in their decision making.

The CBD is our largest workplace by a country mile, with St Lucia’s University campus also a massive pool of potential tenants. We don’t believe rental returns will make you rich but, for peace of mind, keeping your cash input to a minimum, and simply having the largest choice of potential occupants, it’s hard to beat the inner city.

Posted by Rob Honeycombe on 31 July 2009

Standing smack bang in the middle of the lounge room was a boat. Not a little model boat. This was a full size, aging, wooden boat like your granddad used to take you fishing in, with the battered old oars propped against it.

As home renovators go, this young couple was adventurous and, while the boat-cum-bookcase seemed like a great idea, it was just too big, taking over the home and crowding the tiny living space. But at least it wasn’t another yawn-inducing, vanilla reno job.

If you’re weighing up your renovation options don’t be afraid to add some flavour, some colour, some identity. Neutral is safe but it can also be pretty boring, right?

Whether you’re dressing your home up to sell it or making a new home feel more like ‘home’, here are some quick suggestions to get the most bang for your renovation buck (particularly aimed at people with tight budgets):

Emphasize strengths, downplay any shortcomings.

So, for example, if you have a tiny bathroom (and matching budget) just get it crisp, clean and clutter free. Spend the money where it can have most impact – enhancing the home’s strengths. If the backyard is deep then build a small pergola or Jamie-Durie-like seating area right at the back. This will quickly show off the size of the garden.

If there’s a great view or even a leafy outlook then ‘frame’ your windows with classy blinds or simple drop curtains. And don’t be afraid to leave window dressings off in some rooms. Do you really need them in the kitchen? Try a simple dressing across the top, it doesn’t have to be expensive. Pinch the ideas from design mags then put them together yourself.

Kitchens are important, especially benchtops and cooktops/ovens. And this is one area where a neutral palette is always best. Changing your kitchen colour scheme whenever your mood or tastes change would be extremely expensive. Colour and life are best added with your knick-knacks, recipe books or fluffy oven mitts (before they’re immersed in casserole sauce, of course!).

First impressions set a tone.

For houses, you can make a huge difference with a coat of fresh paint on the fence, replacing the rusty letterbox and a large pot-plant on the doorstep. All great value.

Apartment dwellers should clear all that clutter that lives on horizontal surfaces near the door, then find a nice piece of art or consider a feature colour for the entry wall. (Mirrors are overdone in our view – good feng shui or not.)

# We wrote this article for the real estate pages of ourbrisbane.com

Posted by admin on 20 July 2009

A good reminder today for those of us who live in highrise towers. According to the Courier Mail a spiderman-style robber has been arrested on the third floor of a Brisbane CBD apartment building.

“Police said the 21-year-old man was seen outside a first floor unit in Albert Street about 3.15am yesterday and when officers arrived he had allegedly climbed up to a third floor balcony. Owners of the apartment were not even aware of the man outside, and he was found to have a number of allegedly stolen items with him.”

In these milder months some residents leave balcony doors open for a bit of fresh air during the night, but being high up mightn’t stop thieves with steel nerves.

This gent was charged with multiple break and enter offences as well as engaging in a high risk activity. He’s not the first to do it and likely won’t be the last.

One of our team remembers a regular ‘cat burgular’ who did the rounds of St Lucia towers back in the early 1990’s. She nabbed heaps of goodies from apartments as high up as the 9th floors, scaling up the outside of balconies in the dark of night. Police finally caught her and discovered she was actually pregnant when she commited the crimes! Determined lady!

Posted by Rob Honeycombe on 5 July 2009

Life in the ‘burbs isn’t for everyone. The trimmed hedges, rolling front lawns and brick lowsets may be perfect for some but, for others, they’re a nightmare of endless mowing and maintenance. If the idea of a 40-minute commute sucks the life right out of you, here are some tips on finding an affordable home in the city.

Look for the uglies. Real estate is like a high school dance and the pretty ones do go first, and for higher prices. Why? Because most of us can’t use our imaginations (or are too lazy). Simple, really simple, renos and 5 tins of paint can make a massive difference to the purchase price. We’ve seen $3,000 spruce-ups add $30,000 to value – and more often than you’d think. If your housewarming needs to be a cocktail affair with the place looking schmick you mightn’t agree – but it can be just as much fun to invite friends over for a ‘paint and pizza’ night!

Brisbane’s inner city is full of brick apartment buildings from the 1980s and earlier. These were the days when only investors bought in the city – and they weren’t winning awards for their stunning architecture. In many cases the buildings look tired and there are no ensuites, lifts or gyms. On the plus side, they often have big rooms and great locations – and the renovation tasks are manageable on a budget. Think carpet, paint, window dressings and the kitchen when you can afford it.

Try Highgate Hill, Paddington, Bowen Hills (an area that’s got an enormous future) or Spring Hill. Old high-rises may not be fashionable property but they’re almost always close to transport and shops. When you get to sell there’ll be a ready market of investors and first home buyers – regardless of the ups and downs that might slow sales of other property.

Train-spotter? You will save big money if you buy alongside one of our many train lines, and if you pick the line (avoiding the freight routes) it can be okay. Main roads are another option but in our experience this noise is more constant and harder to live with. With either rail or roads it will take you longer to sell when the time comes as your pool of willing buyers is that bit smaller.

Those tight-budgeted house buyers needn’t give up either. Some of the ‘transition’ suburbs like the ‘Gabba, East Brisbane and Kelvin Grove have a reasonable number of affordable homes. You might have to live near a panel beater or a wholesaler for a time but this is Brisbane’s inner city and change will come sooner than you think.

# We wrote this article for the real estate pages of ourbrisbane.com