Dalgety building sales indicate new trend City slickers
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