[COM] West Franklin | 54m & 64m | 17 & 20 lvls | Apartments

[slenderman]

Finally.

Why do you say that?

It's been just a bit more than 18 months since this launched, and they've had to sell the necessary percent of 272 apartments in that time. I would have thought that's a pretty reasonable time frame by Adelaide's standards. While we'd love it to be the case, not every development can sell as quickly as Vue (or Realm which is apparently 75% sold according to Ben, though the cynic in me says the marketers are probably fudging that number a bit).

Anyway, good to see this one starting up. It'll create a fair bit more density in this emerging area. Perhaps it'll also help test out the theory that the nearby student accommodation building going up will look better with more high rises around it.

Slight aside, but isn't there a second stage to this development? Is it going to be located between this and the building on the corner of Franklin and Morphett? Or is it the open-air carpark fronting Waymouth Street?

[Ben]

Yes, there will be a second stage. No plans released at this stage.

[Smithy85]

Finally.

Why do you say that?

It's been just a bit more than 18 months since this launched, and they've had to sell the necessary percent of 272 apartments in that time. I would have thought that's a pretty reasonable time frame by Adelaide's standards. While we'd love it to be the case, not every development can sell as quickly as Vue (or Realm which is apparently 75% sold according to Ben, though the cynic in me says the marketers are probably fudging that number a bit).

Anyway, good to see this one starting up. It'll create a fair bit more density in this emerging area. Perhaps it'll also help test out the theory that the nearby student accommodation building going up will look better with more high rises around it.

Slight aside, but isn't there a second stage to this development? Is it going to be located between this and the building on the corner of Franklin and Morphett? Or is it the open-air carpark fronting Waymouth Street?

Both it looks like. If you look on page 2 of this thread in their stage 1 submission, looks like approx. 5-6 levels along Franklin Street, and approx. 16 levels on the Waymouth St side. Obviously open to change.

[ghs]

Finally.

Why do you say that?

It's been just a bit more than 18 months since this launched, and they've had to sell the necessary percent of 272 apartments in that time. I would have thought that's a pretty reasonable time frame by Adelaide's standards. While we'd love it to be the case, not every development can sell as quickly as Vue (or Realm which is apparently 75% sold according to Ben, though the cynic in me says the marketers are probably fudging that number a bit).

The cynic in me also says that the Realm marketers are fudging the numbers.

75% sold in a building which has 40 levels of apartments. It was only launched a couple of months ago.

[timtam20292]

Finally.

Why do you say that?

Simple really, I'm happy that it's now lodged. What's wrong with that?

[virekul]

@Site

[EBG]

Well done virekul. This is what this internet forum is all about people out and about with their mobiles capturing construction activity as it is happening and expressing their opinions. I look forward to seeing more of your entries.

[Norman]

Piling commenced today

[floplo]

The cynic in me also says that the Realm marketers are fudging the numbers.

75% sold in a building which has 40 levels of apartments. It was only launched a couple of months ago.

Realm has two halves, the upper one (the "Sky Residences") which is the visible premium product, and the lower one, ("Park Apartments) who have a corresponding lower price tag. One possible scenario (and I have absolutely not idea how true it is) is that they sold off most of the lower ones to investors who are speculating on the student market (i.e. given the location they might sell them on to student parents or rent them out as a premium product for students), which could explain the nominally high sales numbers.

Essentially that would be similar to the Sofitel development (where it's a hotel) and the Adelaidean, where it is a hotel and serviced apartments.

(not sure, but this post could be moved to the Realm topic as it is probably off-topic for West Franklin)

[virekul]

Piling commenced today

[virekul]

@site

[virekul]

The Advertiser news

http://online.isentialink.com/adelaiden ... c8eb4.html

[Prodical]

Decent size foundations going in - having the whole site developed + a new supermarket will change the nature of that area

[citywatcher]

Normally by the time piling is underway they have erected the scaffolding and barriers. Have they been approved yet ?

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[Smithy85]

It was dark when I drove past just before, but looks like a crane base is in place.