COM: [West Lakes] View Point | 31m | 8lvls | Residential

[ghs]

These apartments are pretty expensive, they're all at least 600k so
sales will be slow but according to the website construction should commence
soon and over 50% have been sold already.

See the website : http://www.viewpointwestlakes.com.au

[ghs]

I drove past today, there's still nothing happen however there's a sign on the site
which says that the apartments will be completed in 2010. I don't think so.

[Wayno]

I drove past today, there's still nothing happen however there's a sign on the site
which says that the apartments will be completed in 2010. I don't think so.

i know the owner of this site. They need to sell (receive cash deposits) on 4-5 more apartments before construction will commence.

[ghs]

Thanks for the inside info Wayno. This one probably won't start until next
year I would say.

[Will]

I drove past today, there's still nothing happen however there's a sign on the site
which says that the apartments will be completed in 2010. I don't think so.

i know the owner of this site. They need to sell (receive cash deposits) on 4-5 more apartments before construction will commence.

Tell them to advertise it!

I haven't seen an add for it in the Saturday Advertiser real-estate lift out.

[how_good_is_he]

My question Wayno to the owners is when does the approval lapse? Its been over 2 years and I also note that council has changed the height limits along that area of the lake. Could they loose the approval and not get it again [at the same height]? PS Who is the builder?

[Wayno]

My question Wayno to the owners is when does the approval lapse? Its been over 2 years and I also note that council has changed the height limits along that area of the lake. Could they loose the approval and not get it again [at the same height]? PS Who is the builder?

i'll ask, not sure they'll be willing to share though. we'll see...

[ghs]

I drove past today, there's still nothing happen however there's a sign on the site
which says that the apartments will be completed in 2010. I don't think so.

i know the owner of this site. They need to sell (receive cash deposits) on 4-5 more apartments before construction will commence.

Tell them to advertise it!

I haven't seen an add for it in the Saturday Advertiser real-estate lift out.

Advertising doesn't always work that well. Look at Bay waters and adelphi waters
at glenelg. Both developments have been advertised and still have vacant apartments ( and
they were both built a couple of years ago). It's also expensive to advertise every week in the
paper for 12 months.

[ghs]

This one was proposed quite a while ago. Surely if they dont get some more sales soon then
they will just cancel it.

[Wayno]

I know the owners here. Their goal was to self-organise everything but it's proven too much for them. They are very good at running a chinese restaurant, not property development. Suspect they will sell the land in the next 6 months or so...

[ghs]

I think there's still quite a few apartments left in the Cedar building at West Lakes so clearly
there's not that much demand in West Lakes at the moment.