Gurner have delayed BNE apartment development until next cycle

New apartments approved but developers hold out for next property cycle

 

Makes sense from what i can see. The demand isn't there

 

It would be a good outcome, reducing the CBD oversupply concerns.
Hopefully a few more of those building approvals won't move to the construction phase for a while.

 

the holding cost will be huge as well, no? so unless the pre sale are not good, developer should go ahead to build?

 

I was just starting the process to sell mine in that development.

Not sure what's going to happen (haven't received any official news) given all three towers are sold out and construction has already started.

 

If yours is one of these you might have found a silver lining. Quite possibly you may be able to invoke the sunset clause, (or some other clause that benefits you as it wont go ahead as originally planned), you should not have to settle and you should get all your money back.
Please have a look at your contract and good luck.

 

Well I thought I was being smart so requested an extended sunset clause... Oct 2020 but if the third building hasn't started and may not until the next cycle (bit ambiguous) could still be an out. Will find out Monday/Tues.. Fingers crossed alright!

 

Oh crap... good luck!

 

I think bne nerds time out to assess it's planning (or lack of).
Many of the resi towers that have been built recently or will be built don't add value to the city. Bne needs to make the cbd nicer. Focus on the river in a positive way. Put some requirements on developers to create genuinely nice public areas as part of their aprproval etc.
Create long term amenity and aesthetics and therefore value.
I'm all for high density but there's much better ways to do it than just approving dark tower after tower right against each other.

 

Bad outcome for retail shops.