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Posts Tagged with Soho Apartments South Brisbane

Posted by Rob Honeycombe on 11 April 2011

Spring Hill's "Oxygen" apartments

Somewhere along the line the naming of an apartment building became really important to property developers. Creating a more emotional bond for buyers, a stylish, sexy and aspirational brand and logo was seen as a link to higher prices and faster sales rates. Back in the days of brick flats the names just seemed to be a mush-up of the builder’s kids’ names. Like “Shar-Lee Court”. The spirit of Sharon and Leanne captured in perpetuity.

Then when Brisbane’s first trend to city living started to really take hold developer’s scrambled to conjure lifestyle images of Manhattan and New Yorkers (not coincidently the names of 2 late 1990’s Brisbane buildings). Spring Hill got a “Tribeca”, after a trendy New York precinct of the same name – the Triangle Below Canal Street. Not surprisingly Brisvegas also got 2 new buildings called “Soho”, named in the same way for South of the Houston River. And yes there’s a “Melrose Place” in Brisbane. The Americanisation continued.

And to defend our property developers for just a moment – can you imagine how hard it is to set up a brand that will (hopefully) live on for many years as a residential address? Worse than naming a new child!

Your author helped name “Oxygen” apartments in Spring Hill, the design’s open space and fresh air inspiring that one. I also got involved with branding South Bank’s “Galleria” but somehow ended up with buyers confusing this clue to the arts and culture precinct with a duty-free shopping mall… It’s a tricky job!

So now it’s over to you! What’s the best apartment building name you’ve seen? Maybe it’s something clever or memorable or just so bad you have to share it. And I get first go at this – “The Village of Langler Drew”. I kid you not, it’s in Toowong’s Sherwood Road. An inside joke maybe?!

Posted by admin on 27 March 2008

 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.