[COM] Renaissance Arcade | 132m | 40 Levels | Realm Apartments

[Ben]

Looks like people should be moving in anytime now. The retail componant still has a lot of work to be done.

[SRW]

Apartments in this are being advertised for lease 'available now'. I came across at least 4 different types:
https://www.realestate.com.au/property- ... -429163570
https://www.realestate.com.au/property- ... -429147854
https://www.realestate.com.au/property- ... -429148706
https://www.realestate.com.au/property- ... -429149010

Here's the view from a north-facing three-bedroom:

There are two things in this building's external appearance I hope will be finessed: firstly, the crown needs to be completed in-the-round; and, secondly, I hope the underside/ceiling of the balconies are smoothed (or painted). Otherwise, I look forward to the influx of residents thar will hopefully support local business once we reopen post-lockdown.

[Ben]

Thanks for sharing. The underside of the balconies are horrendous. Unfortunately I’d say that’s finished if people are moving in. Interesting choice of the wood on wood in the kitchen in some apartments and the fixtures look more yellow than gold. Glad the external finishes look good though. I look forward to the retail component but looks like that’s many months off as it’s barely been started.

[SRW]

Thanks for sharing. The underside of the balconies are horrendous. Unfortunately I’d say that’s finished if people are moving in. Interesting choice of the wood on wood in the kitchen in some apartments and the fixtures look more yellow than gold. Glad the external finishes look good though. I look forward to the retail component but looks like that’s many months off as it’s barely been started.

I agree, the internal finishes are not as refined as I was expecting. Thankfully, from the outside, it remains an overwhelming positive despite some minor niggles.

[cmet]

Makes sense that these ones haven’t sold or aren’t owner/occupied. The wood on wood is pretty average, the other options were much nicer

[Nort]

Here's the view from a north-facing three-bedroom:
image.jpg

There are two things in this building's external appearance I hope will be finessed: firstly, the crown needs to be completed in-the-round; and, secondly, I hope the underside/ceiling of the balconies are smoothed (or painted). Otherwise, I look forward to the influx of residents thar will hopefully support local business once we reopen post-lockdown.

That's a stunning view.

[SRW]

Here's the view from a north-facing three-bedroom:
image.jpg

There are two things in this building's external appearance I hope will be finessed: firstly, the crown needs to be completed in-the-round; and, secondly, I hope the underside/ceiling of the balconies are smoothed (or painted). Otherwise, I look forward to the influx of residents thar will hopefully support local business once we reopen post-lockdown.

That's a stunning view.

It's why I can't understand why we keep getting proposals for cheap student apartments instead of higher-end apartments along North Terrace. It's literally the best orientation in the city and can't be built out -- you could charge a premium for the view!

[Nort]

Here's the view from a north-facing three-bedroom:
image.jpg

There are two things in this building's external appearance I hope will be finessed: firstly, the crown needs to be completed in-the-round; and, secondly, I hope the underside/ceiling of the balconies are smoothed (or painted). Otherwise, I look forward to the influx of residents thar will hopefully support local business once we reopen post-lockdown.

That's a stunning view.

It's why I can't understand why we keep getting proposals for cheap student apartments instead of higher-end apartments along North Terrace. It's literally the best orientation in the city and can't be built out -- you could charge a premium for the view!

People who would pay good money for the views would expect a higher quality building and larger apartments than those in student accommodation. So more up-front costs for probably a similar profit margin (don't actually know the numbers)

[floplo]

It's why I can't understand why we keep getting proposals for cheap student apartments instead of higher-end apartments along North Terrace. It's literally the best orientation in the city and can't be built out -- you could charge a premium for the view!

you might be suprised by the prices these student apartments managed to charge pre-pandemic....
(just as an example, the Urbanest directly in front of Realm charges for a room in a twin share share studio about $300 a week, that's $600 for a two bed room apartment which is above the $500 starting price for a two bed room apartment in Realm, similarly a one bedroom is $470 Urbanest vs $500 Realm, etc ...)

and to be speculative, Realm will actually end up to a large part as student housing as well (except on the higher end top floors). Looking omewhat more upscale, but price-wise not dramatically so. They marketed overseas and I assume that a substantial part of buyers were parents of prospective students or investors expecting demand from students (as the uni happens to be literally next door...).

essentially, the location advantages of proximity to university for student housing can beat the location advantages of a view for apartments...

[how good is he]

I would expect the rental return/investment yield per sqm would be higher for student accom. and the sqm rate lower to purchase than luxury apartments. However this may be negated by the difference in capital growth.

[stronic]

Realm by clinkey70, on Flickr

[ChillyPhilly]

Top floors lit up.

[AndyWelsh]

Interesting to see how the heights in the big 3 look so different from the far end of War Memorial Drive. I feel Adelaidean and Realm look taller than they actually are from the vantage point.



One from the riverbank too with the lights on:



Sent from my iPhone using Tapatalk

[Plasmatron]

The view from Hindmarsh Square, early last week. (2/6/2020)

[stronic]

Architecture by Chris Kirby, on Flickr