Knowing Where The Freehold and Leasehold Apartments in Beaumont Quarter

Apartment Specialists Podcast No: 55

Summary:

Knowing where the Freehold and Leasehold apartments in Beaumont Quarter is important because of the significant difference in apartment prices.

TRANSCRIPTION:

Good day, my name is Andrew Murray from the Apartment Specialists. Today, I'm talking to you about leasehold apartments and specifically Beaumont Quarter.

Beaumont Quarter is an area of leasehold apartments. As you can see, I've outlined this in red and there's approximately 258 apartments in this area and they are a mixture of leasehold and freehold apartments. They originally were all leasehold and then buyers had the option to make them freehold. So there is a bit of a mixture. So when purchasing in here make sure you know the difference as the values will differ considerably.

This site is actually 2.4 hectares. It was bought for more than 14 million in the year 2000. In 2009, it was revalued at about 60 million. There was a bit of toing and froing there with the owners and that came down to $45 million. Here, I'll go over it in a bit more detail. So you've got Beaumont Quarter here, Victoria Park here, College Hill which goes up to Ponsonby, then you've got Queen Street here, your main CBD et cetera.

Now, looking more closely at those apartments - I will go into Beaumont Quarter which is this area here - if you follow my mouse along Beaumont Street, up College Hill and actually it comes up through here. So there's Beaumont Quarter, up here - Hargreaves Street, along here you can see the apartments here, up on this quarter here, along the Boardwalk and then down through here and its where all the apartments are. If I go in closer you'll be able to see a good view of the complex.

There are 12 different types of apartments here. They kept the character front which is actually commercial and there is a pool and a gym and series of alcoves which is the original brickwork and all the rest has been redeveloped. You've got some really interesting apartments in here, some have two or three levels, especially these ones here, actually the Boardwalk won quite a few architectural awards and has had quite a bit of publicity.

You've also got these ones here which are third levels. You've got a nice little pool in this area, but it's quite an owner-occupied area. As you can see it's quite quiet, you've got small streets, you've got your Brickfield Way, your Telpher Street, your Fisher Point Drive et cetera. And yes, it's quite a nice community in that area now that you're allowed animals in a lot of those apartments. There's also been a Quest which has just been built here which has 34 apartments, that's brand new and mainly get sold overseas to the French.

That gives a pretty idea of a quick go-around so you can see the whole configuration. The really best way to see it is facing north so its been designed obviously to pick up as much sun as possible. We can look - this is north facing this way and you can see all the apartments have been designed to get as much light as possible. Coming in from the east you can see here that character building and then back to north and if you back up you'll see where it is - Victoria Park here, Beaumont Quarter.

So hopefully that gives you more of an idea of where the leasehold apartments are, this being number three Beaumont Quarter and then next I'll be going over the church land up on Queen Street.

Cheers.