[U/C] Central Market Arcade Redevelopment | 130m | 39 levels

[rev]

If its overseas investors then its just more evidence that supports my claim; there's demand for high-rise developments from overseas.

And if true, may result in low occupancy rates and a reduced level of activation of the surrounding area. Not necessarily a great outcome for the city.

Millions in rent going offshore, terrible outcome.
Some countries are very strict with who can own property, in Australia we let anyone. The North Korean dictator could probably manage to buy a penthouse here.

[HiTouch]

It's definitely not desirable. There are whole city blocks in Sydney that are foreign owned and nobody lives in any of the properties. Especially around Lidcombe. It's horrible.

[VinyTapestry849]

Probably best If there's a balance

[A-Town]

It's definitely not desirable. There are whole city blocks in Sydney that are foreign owned and nobody lives in any of the properties. Especially around Lidcombe. It's horrible.

Melbourne too, most notably the north-western CBD high rises and Docklands. The laws definitely need to change.

[AG]

If you are not an Australian or New Zealand permanent resident, FIRB rules indicate that you cannot buy an established residential property. However, there is nothing stopping the purchase of brand new off the plan residential purchases (or any commercial/industrial purchases, subject to FIRB approval) - hence why there's so many overseas investors buying up apartments.

[Algernon]

If you are not an Australian or New Zealand permanent resident, FIRB rules indicate that you cannot buy an established residential property. However, there is nothing stopping the purchase of brand new off the plan residential purchases (or any commercial/industrial purchases, subject to FIRB approval) - hence why there's so many overseas investors buying up apartments.

Hence it's foreign investment that results in something that we both want and need: the construction of new housing stock (and not just inflating the price of the existing stock).

[PeFe]

Two page advertisement for this development in the Weekend Australian. Never seen that before for an Adelaide apartment development. Also an article in the Real Estate section flogging off the $10 million dollar penthouse.

[citywatcher]

If you are not an Australian or New Zealand permanent resident, FIRB rules indicate that you cannot buy an established residential property. However, there is nothing stopping the purchase of brand new off the plan residential purchases (or any commercial/industrial purchases, subject to FIRB approval) - hence why there's so many overseas investors buying up apartments.

Hence it's foreign investment that results in something that we both want and need: the construction of new housing stock (and not just inflating the price of the existing stock).

Average person doesn't need a 40 storey apartment block.

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[VinyTapestry849]

My god the hilton is ugly. The sooner this starts the better.

[SRW]

My god the hilton is ugly. The sooner this starts the better.

The Market development won't much change the view you have shown? And I disagree re: the Hilton; it's terrible at podium level, but the tower itself is fine. The GHD/fmr SGIC building is the irredeemably ugly one IMO.

[timtam20292]

Chemist Warehouse has relocated across the road on Gouger Street in preparation for this development.

[Nathan]

Chemist Warehouse has relocated across the road on Gouger Street in preparation for this development.

Thank fuck for that. Totally out of place for having a frontage in the market.

[Nort]

Chemist Warehouse has relocated across the road on Gouger Street in preparation for this development.

Thank fuck for that. Totally out of place for having a frontage in the market.

I'd suggest it's more a move since the site is being demolished rather than appropriateness for the location.

[timtam20292]

Chemist Warehouse has relocated across the road on Gouger Street in preparation for this development.

Thank fuck for that. Totally out of place for having a frontage in the market.

I'd suggest it's more a move since the site is being demolished rather than appropriateness for the location.

Correct.

[Nathan]

Chemist Warehouse has relocated across the road on Gouger Street in preparation for this development.

Thank fuck for that. Totally out of place for having a frontage in the market.

I'd suggest it's more a move since the site is being demolished rather than appropriateness for the location.

No doubt, but it's still good to get them out of there.