Dal­gety build­ing sales in­di­cate new trend City slick­ers

Townsville Bulletin - - Investor - by Tony Rag­gatt tony. rag­gatt@ townsville­bul­letin. com. au

MORE peo­ple are look­ing to live in Townsville’s tallest CBD res­i­den­tial tower.

Agent Ferry Prop­erty has re­ported seven sales of units in the Dal­gety build­ing in J a n u a r y a n d F e b r u a r y mostly to owner-oc­cu­piers – a strong re­sult given not just the eco­nomic cli­mate but the flood­ing rains and cy­clones which have de­liv­ered one of our big­gest wet sea­sons.

‘‘ While it has been a long road for many pur­chasers in the re­cently com­pleted Dal­gety Apart­ments, they are now start­ing to reap the ben­e­fits of city liv­ing,’’ Ferry di­rec­tor Nick Ferry said yes­ter­day.

‘‘ Sales in the 21-storey build­ing have been par­tic­u­larly strong in Jan­uary and Fe­bru­ary of this year with seven apart­ments go­ing to con­tract and these set­tle­ments are all ex­pected this month.’’

Prices range from $ 285,000 for a one-bed­der to $ 950,000 for a three-bed­room apart­ment.

S t a g e t w o o f t h e 117-apart­ment tower, the ground level re­tail shops, is now com­plete with ti­tles ex­pected to be is­sued soon.

Ne­go­ti­a­tions are con­tin­u­ing with po­ten­tial buy­ers of the re­tail space, six lots rang­ing in size from about 35sq m to 110sq m.

Mr Ferry said that while al­most half of the build­ing was orig­i­nally sold to in­vestors and the ten­anted apart­ments were full, most of in­ter­est in the re­main­ing units for sale had come from owner-oc­cu­piers. ‘‘ In the cur­rent eco­nomic cli­mate, Townsville prop­erty in­vestors are favour­ing real es­tate in CBD lo­ca­tions ahead of hol­i­day des­ti­na­tions,’’ he said.

‘‘ It’s our view that peo­ple are now see­ing real value par­tic­u­larly in the Dal­gety Apart­ments com­plex at cur­rent prices and it’s a boost to the build­ing’s cred­i­bil­ity so many owner-oc­cu­piers are show­ing an in­ter­est in l i v i n g i n T o w n s v i l l e ’ s tallest res­i­den­tial tower.’’

Sta­tis­tics from the Real Es­tate In­sti­tute of Queens­land show Townsville’s 3.4 per cent rental va­cancy rate in the Septem­ber 2010 quar­ter com­pares favourably with 4.4 per cent in Cairns and 12.7 per cent in the Whit­sun­days.

Mr Ferry ex­pected the city liv­ing and in­vest­ment trend to con­tinue.

TOW­ER­ING RE­TURNS: Our city’s tallest res­i­den­tial build­ing

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