Does anyone know if these apartments at Broadbeach are a good investment. I would like to purchase as an investment but I am concerned by the amount of properties for sale and the purchase price hasn’t changed much in the last 3 years.[^]
Not familiar with them Natchat but it seems like youve answered your own question.
Ben.
hi
That building is very nice. I understand it is a resort building, and it has alot of amenities. Its advertising centres around ‘health retreat’ style of holiday. It is beautiful, and is in the main shopping strip of broadbeach, which is across the road from the casino on one side and 1 block from the beach on the other. There would have to be a minimum of 15 coffee shops etc under the building (at street level), and at the bottom end of the streat is another large hotel (Raddison I think)and alot more shops and restaurants etc.
Is the purchase of a unit likely to be cashflow +ve? I would have been surprised, that is why i would never have considered it.
Nicole
I would avoid like the plague, as an investor.
You are going to be paying for all those amenities by huge and ever increasing body corp/sinking fund fees.
you are up against a huge no of gold coast apartments, they plan to build at least one dozen more in Southport.
See my comments re anything “managed”
We had a beautiful Mirvac Main Beach apartment, sold it after 2 years with minimal capital gain, just covered cost.
The outgoings were about 6000 p.a in b/corp, rates etc.
don’t buy anything like that in a big complex, buy LAND VALUE, here you are just buying air.
See whats happening in the Melb Highrise market.
Stick to the “mums and dads” suburban home, I know it sounds cliche but thats what people still look for.
Just brought one in a lovely village called Canungra, foothills of Mt Tamborine for 250.000, swimmingpool, landscaped, beautifully presented, 6 years old, it doesn’t even need painting.
Tenants are ready to move in at 240 per week on the day after settlement.
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