4 Dockside Lane,
For many of us, our perception of things is heavily influenced by forms of social prejudice – or media influence.
For those of us who like looking deeper – and rendering our own conclusion – the stigma created and perpetuated by others creates opportunity.
Opportunity to obtain things for much less than we would be able to otherwise were all humans as diligent as we are.
Anyway, the figures and the Sitch;
Remedial work required – maintenance to the roof, fixes to the decks, fireproofing building-wide.
The risk for this apartment; Approximately $43,095 in potential remedial levies.
HOWEVER – There’s a good chance a big chunk of those costs will be absorbed by the council, but we don’t know what portion yet – hence the opportunity to buy cheap.
These units were selling for $300,000 prior to the remedial issues being identified, so even if the worse case was actualized – You’d still be getting this unit for more than 10% less than what it’s worth.
If things go to plan and the council pays up – expect up to 30% capital once the repairs have been carried out.
Disclaimer: Apartment Specialist are often asked to give information as to the area or dimensions of properties, including rooms, decks and patios. Apartment Specialists sources such information from third party sources (for example Council records, building management records) and passes this on; unfortunately it is not uncommon for such information to be inaccurate. If exact and accurate sizes or dimensions is an important factor in your decision then you as Purchaser must make your own independent enquiry from your own chosen expert (for example a registered valuer).