[COM] 114 Waymouth Street | 78m | 26lvl | Wingfold Tower

[cmet]

So in the end, are these appartments or a hotel?

[SRW]

I think it was intended to become serviced apartments but cannot find any info online.

I did, however, find that they're looking for an operator for a 'rooftop bar and restaurant'. Floorplan and visualizations here:
https://www.realcommercial.com.au/for-l ... -503515270

[ghs]

Strangely enough it appears that no one has moved into this building. What type of business people are behind this project?

[floplo]

Strangely enough it appears that no one has moved into this building. What type of business people are behind this project?

There are a small number of apartments advertised for lease, but nowhere near the number expected.

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[Bob]

Strangely enough it appears that no one has moved into this building. What type of business people are behind this project?

There are a small number of apartments advertised for lease, but nowhere near the number expected.

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Maybe its one of those ‘commercial build to rent’ developments instead of the usual build to sell models?

After all, the build to rent model has taken off in the US & the UK, you know building high rise and retaining ownership of the entire block with the view of never to selling to individuals but collecting rents on all the apartments instead. Then it makes it easier on sell these total ownership arrangements to big investment players.

In Sydney Mirvac have just completed one of these developments, which they intend to keep whole, probably more on the horizon, just a matter of time before it spreads to other cities.

I don’t know anything about this particular development, but just speculating it might be one of these arrangements?

[mdawnf]

I think they've changed it to 116 Waymouth Street? Sorry if someone has already posted this, I didn't go back in the thread.
There's apartments advertised to rent on realestate.com.au but they haven't put a weekly price? I'm confused.

[ghs]

Maybe its one of those ‘commercial build to rent’ developments instead of the usual build to sell models?

The building was finished at least 6 months ago. They could have rented out the apartments by now if they wanted to. Something funny is going on here. Has the developer gone broke again ?

[floplo]

Harcourts is now offering a rooftop bar on the 27th floor for lease. Presumably that was the original amenity level for residents.

Could they be holding out for some serviced apartment / hotel type deal for large parts of the building?

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