QLD Dwarfed! Gold Coast keep or sell

Its a pretty cool building, done by the same architects that did MONA art gallery in Tassie. My point was lots of things are still possible! Domain guy could be on to something there, worthwhile seeing what can be done with the block.

 

How would parking be provided for that place? It would almost be impossible I'd have thought?

 

Yeah thanks @S.T might bring it up at the next body corporate meeting.

@T.C. talks about parking at the end of the article.

 

Says a 9 storey car stacker.
What a nightmare if everyone wants their car at the same time.
Marg

 

OK? Didn't get that far.

 

Stuck in the middle: Gold Coast owner sandwiched by high-rises

Domain wrote an article

 

As others have said I would get someone to do up plans for the best usage on the block-then try sell to a developer .In terms of selling now would be the worst time I reckon . Hold on now it will still go up in value long term

 

No need as Gold Coast high density areas ok with no car parks and public transport encouraged (light rail etc).

 

Just an update. Obviously a developer has read the article and got all 6 units to agree to a sale.

If we sold on the market through an agent I reckon we'd get $280k. The developer has offered $300k which to me seems low? My partner has said she wants $350k (I said go in hard at $400k but she is soft haha).

What are peoples thoughts? Is there a rule of sorts for how much extra is offered when a sale is made for development? Or should we just be happy to get rid of it?!

Cheers

Dan

 

Why does $300K seem low when an open market sale would fetch $280K (less commission)? $400K is around 50% over market price, and I doubt a developer would pay so far above market value.

You can certainly try for more, but don't get too greedy if you really want to sell. The developer looks at figures only, if the block is too dear then he/she will move on.
Marg

 

Thanks @Marg4000

I only said $400k because I know they will probably counter offer lower. To me $300k is what we would get in a few months time assuming the Gold Coast moves a little with the commonwealth games so it seems like if that was there top offer we may as well wait and see. You never know the market could go great.

But you're right we definitely won't get too greedy, see what happens.

 

The agent will always recommend to sell asap - he wants the listing to sell it and make money!

 

You're fortunate to have been given an 'out' in what could have been a dire circumstance.

Negotiate a little, but be happy with the good luck you've had.