Anew development rockdale nsw

Hi All,

First post to this forum I hope I have this in the right place.

Just wanted to reach out to anyone that might have purchased or has information on the Anew development in Rockdale NSW Welcome to Anew, Rockdale. Apartments for sale. Sydney

I purchased back in March last year but I am yet to see any development start, this is my first property so I am bit nervous about the whole thing.

Thanks in advance

Will

 

Do you know if they sold all the units ? My impression is that developers struggle these days with selling apartments. Though location of this particular development seems to tick all of my boxes.

 

I think they sold most of units already...

I am also in the same situation with you. Anew is my first property.

Maybe we can share information.

Andrew.

 

@Dwkim

Yeah I finally see some movement on construction now.

The CC has been approved and going past the other way I did see some demo works happening.

 

Thats good to hear.

Thank you for sharing information.

Have a nice weekend.

Andrew

 

Interesting.

Down the road they are selling 1b + study for $520k - 380 Princes Highway Rockdale NSW 2216 - Apartment for Sale #127554170 - realestate.com.au

And on the other side $695K - 15 Bay Street Rockdale NSW 2216 - Apartment for Sale #127291082 - realestate.com.au

Quite a price disparity

I purchased for $635k 1b + Study Back in march 17

 

The 695K have a car space, but the 520K doesn't, the 520K one does say it is 72m2 which is pretty oversize.

Your one is 635K with car space? if yes, then pretty good price.

 

I purchased a two bedder for 700k and a bit worried I paid too much. My first unit too.

 

Hi all,

This is my first unit too. I just received their email, says the whole project will be finished on 2020, which is very different from what they have advertised at the beginning. I am super worried about this announcement, I would like to reach all of you who has purchased this place to join and share the information with me.

My name is Justin.

 

Hi All,

I too purchased a unit in this development, very disappointed with the fact that there were developments that were sold later then this development but is now completed, on top of that this development will be completed during a time where property value has fallen and banks are not lending like they were.... putting all purchasers in a bad position, if this development was done when it was meant too then i wouldn't be as worried. Also anyone get an email regarding the extended sunset date?

 

Hi Tnoz

Just wanted to say thankyou to you and others for sharing your info.

I have no received any correspondence from cbre about the extended sunset nor about the completion in 2020 as has been mentioned earlier in this thread.


Would you be able to share some more info in regards to this message you have recieved?

Cheers,

 

Hi Tnoz,

Couldn’t agree with you more at this point. This come cross an opportunity cost.

I actually have reached CBRE agent to let them know how bad the situation is. But turns out that they don’t care about buyers like me by a simple reply, says ‘this is the off-plan, the buyers should have known the risks and how it works’. I felt like the agent is not with us, they are helping the developer by every single point.

We Should give some more pressure on CBRE on this, or they won’t do anything for us.

 

Hi Justin,

Thank you for sharing that information this will help others.

Do they have a legal right to be able to extend the sunset date due to financial issues.

I have heard to be done for council and environmental factors but never read about finance.

 

Why do you expect the selling agent to work for you?

 

The agent does act for the developer, not for you.

The rights of the parties should be in the contract - read it and/or seek advice from your solicitor (use someone experienced in OTP contracts).

 

Hi Qak,

I have talked to my solicitor, I suppose the others did same.The Solicitor did mention that the developer only can rescind contract if there is other buyer wish to take it. There is no other way to get it around when the house market is in a downturn and price is falling.

 

Hi All,

I have also get some updates from construction site. The progress is still slow.

But if you look at the other development just next street, which already completed, you would be so worried about the one we are having now.

 

Hi All,

Thank you for sharing all the information.
I also purchased the units in ANEW and first home buyer.
I had never received any information regarding of the extension of sunset date.
Very disappointed with the developer and CBRE, Just worried it may not be completed on 2020.

 

CBRE is just a selling agent, they will say and do anything to make a sale and that is their job. Once a sale is completed, you mean nothing to them so don't expect sympathy, that is just the real world, make sure you know all your rights with your contract, it would be wise to spend money on a good solicitor for these contracts, selling agents will not provide you with any useful information and you wouldn't trust them either. Also i wouldn't be worried about the project being completed, this is Australia, they can't run away with your deposit. I would be worried about how the project is being built and with all the news about dodgy developments, i'll be more worried on how this developer would be cutting corners to finish the project in time.

 

I am worried about the developer cutting corners, for this is my first property too and have no received any emails about the extended sunset period. In the website for ANEW they state that the architect is AB Works, when I dug a little deeper they have now become Loucas Architects (http://www.loucasarchitects.com.au/) and I can't find any information on the builders (any clues?).
I know that there is a heritage building around this property and I had wondered if that was slowing down progress? The heritage building being the Town hall (448 Princes Highway, Rockdale).

My question is: I have it in writing, on my contract that the sunset period is October 2020. Are we in danger of them bullying us into pulling out of the purchase so we keep our deposit, only for them to put them back on the market for a higher price? What are our rights here?

I found this website but I'm not sure if it's helpful: https://www.etheringtons.com.au/blog/sunset-clause-off-the-plan-purchases/

My partner and I signed the contract in December 2016. We have been waiting now nearly 3 years for completion. We are losing patience.