Lidcombe Meriton vs Campsie Frasers

I am looking to buy a 2bedroom apartment around the $650k-$750k range and I cam e across these two development.

1. The Reteat complex by Meriton in Lidcombe/Olymbic Park. Most of the units here were meant for serviced apartment and are now selling between 700k-800k.
   • Pros:
     • Walking distance to Olympic park station (Metro stop by 2030)
     • Easy access to sport facilities in the area
       
     • easy access to M4
     • Potential light rail stop to paramatta
   • Cons:
     • A high number of apartment being built in the complex
       
     • Rental competition with Meriton serviced apartments
       
     • High strata feed to a newly built building
     • Above budget
2. Clemton Park Village by Frasers Property in Campsie for unit between $600k-$700k
   • Pros:
     • Established complex with a good selection of shops and restaurants
     • Good cultural mix with a lot of young couples in the area
       
     • Units within budget
   • Cons:
     • Not close to train station (45min to CBD)
     • Complex has made the news about crack in the basement, but I have been informed that fraser is actively fixing the issue and should be done by end of 2021
     • Might be a bit hard to rent it out given the distance from public transport.

What's everyone's thought about those two areas and what would you go for? Any other suburb I should consider?

Cheers,
MC

 

You will need to consider whether the design & size of the Meriton apartments is suitable for long-term tenants ie are they sufficiently sized & practical for long term tenants (Euro laundry, practical sized kitchen, lounge) or will they lack storage (linen/utility/robes/storeroom), space, function etc?

Will the lifts be sufficient for residential use vs short-term lettings?

 

The meriton apartment are better sized units actually, with a lot of storage in the unit. Frasers has small rooms and ok appliances.

 

Neither.

 

haha.. any particular reason?

 

Both these areas have alot of units already and they're still building more. If it's for a rental you will have lots of competition not a great yield. Meriton are not known for there quality workmanship. Olympic park station is a pain because you still need to change at lidcombe. If you wanted to live in one of these areas I would suggest renting and investing elsewhere trying to get a house or townhouse.

 

These may not suit the OP's need so it's been culled to two sites.

 

I am open to exploring other areas. Trying to stay within the 45min commute to the CBD.

 

Are you only focusing on high rises and that area?

 

Not at all, I am trying to find something with decent build quality