This apartment offers a lower entry point, with its current pricing reflecting the building’s known strata and remediation matters.
For buyers prepared to review the records, understand the levy position and assess the risks, it may represent potential value before the works are completed and buyer confidence potentially improves.
Recent comparable sales sold in 2026 within the same complex:
-Unit 48: $790,000
-Unit 20: $775,000
-Unit 39: $745,000
-Unit 19: $725,000
-Unit 56: $680,000
Average recorded sale price: $743,000
These sales suggest the current entry point may offer potential value, subject to the building’s known issues and future costs.
Building and Remediation Position:
The building has an active strata committee overseeing waterproofing and water ingress matters, with formal remediation steps already underway.
Based on the May 2026 strata report:
-$1.546 million in remedial works has been approved.
-A $2 million special levy has been approved to fund the works.
-Further roof remediation remains under consideration, with quotations ranging from $1.45 million to $3.52 million.
-If approved and funded through a special levy, the potential additional contribution for this apartment is estimated at approximately $17,500 to $42,600, subject to the final project cost and applicable unit entitlement.
Why Investigate Now?
Potential advantages include:
-An entry price below recent comparable sales in the same complex.
-The opportunity to secure a property before the building’s remediation program is completed.
-Known building issues that can be reviewed through strata records.
-A substantial remedial program that has been approved rather than merely discussed.
-The ability to factor potential future contributions into your purchase decision.
-The possibility of benefiting if buyer confidence improves as the works progress.
-The same location and lifestyle benefits as other apartments in the complex.
Waiting until all works are completed may mean stronger competition and a higher purchase price. Investigating now may provide access to a lower entry point while the building’s current circumstances are reflected in the market, provided the risks and future costs are acceptable.
Property Highlights
-Two bedrooms with built-in wardrobes
-Two bathrooms, including ensuite
-Open-plan living and dining
-Private balcony
-Modern kitchen and internal laundry
-Secure parking and separate storage
-Walking distance to Asquith Station, shops and schools
For further information or to arrange an inspection, contact Anthony Chau on 0449 551 682, Iain Rosekilly on 0429 231 267 or Anna Barsoumian on 0413 375 177.
