A closer look at Oxygen Apartments Spring Hill

admin — Thu, 25 Feb 2010 07:48:38 +0000

As the Bees Nees’ specialist in Spring Hill, Brisbane 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!

Oxygen Apartments – 170 Leichhardt St, Spring Hill

Number of apartments	191
Developer	Spring Hill Developments Pty Ltd (Honeycombes Property Group)
Size and previous land use	6853m² – former Metro Ford dealership
Builder	Watpac
Architects	Scott Peabody of Planit Architecture, Liam Proberts of Fairweather Proberts, John Simpson and Scott Taylor of Terrain Landscape Design
Year of completion	2005
Number of 1 bedroom apts	48
Number of 2 bedroom apts	107
Number of 3&4 bedroom apts	36
Amenities	2 pools, big gym and 1 acre of landscaping and open space; ground floor mini-mart and pizza shop
Other comments	Spring Hill’s largest residential development with 26 different floorplans and a broad variety of architecture. Mixed use project with offices and shops. Record sale was a 4 bedroom penthouse sold by Bees Nees for $980,000
Recent sales	Sept 2009 1 bed “skyhome” $380,000; Nov 2009 2 bed 1 bath $417,000 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 2 bath rented in Jan 2010 for $490; 2 bed 1 bath rented in Aug 2009 for $445; For an over the phone estimate of current rents in Oxygen please call our Property Management team 07 32146899 or email info@beesnees.com.au
Views and aspect?	City skyline to the south and elevated northerly views across Spring Hill toward the bay.
Are pets allowed?	No

Oxygen Apartments' "Parkview" Building

The main pool in the Village Green

The Oxygen Apartments "Cityview" building

The record holder sale at Oxygen Apartments

Do you live in the Oxygen 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 Oxygen apartment please call Richard on 0404 397117.

Rates and land tax hit with big rises

admin — Thu, 27 Mar 2008 01:31:57 +0000

Tucked in with the mailman’s delivery of Easter cards, this year’s land valuation notices held a sting for plenty of inner Brisbane property owners. These are the official numbers the state government assigns to every piece of real estate, and they’re used to work out how much you’ll pay in Council rates and, for a large number of property owners, land tax.

In South Brisbane we’ve seen a number of jumps over 50% in just one year, with one Peel Street property (Soho Apartments) rocketing 74%. Across the whole city we’re told the rise was a to-be-expected 16%, but the department confound us each year with their process. The “unimproved capital value” (see your UCV on your BCC rates notice) is supposed to be based on the notional value your land would be worth with no building, fences, levelling etc. So to determine this they look for recent sales in your area of vacant or “lightly improved” properties and work back from there. If anyone’s seen any vacant land selling around the inner city let us know…

If you own an apartment you won’t get the notice as it goes direct to the body corp. But you will get the rates and land tax increases that result. If you own at Aurora Tower or Oxygen Apartments your taxable value just leapt 29%; Que and Greenwich at South Brisbane were up 53%. Might be worth asking your committee if they plan to appeal the amount?

Land tax kicks in as soon as you own property worth a combined $600,000 (or $350,000 if held in a company name), so for many inner city suburbs that’s just one property! You don’t have to be a wealthy old landlord to be copping this state tax.

The outcome? Higher costs of owning real estate and higher rents for tenants.

Bees Nees The Buzz » Oxygen Apartments Spring Hill Brisbane

A closer look at Oxygen Apartments Spring Hill

Rates and land tax hit with big rises