Marrickville building on verge of collapse

Discussion in 'Repairs & Maintenance' started by neK, 7th Feb, 2017.

Join Australia's most dynamic and respected property investment community
Tags:
  1. neK

    neK Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,842
    Location:
    Sydney
    Sydney weather: Severe thunderstorm causes havoc on roads, public transport

    Not sure if SMH simply googled "Ewart St Marrickville" or whether this is the actual block in question. Though description does match, this one does have a big pond next to it.

    I believe a forum member may own a unit within this block.

    Not sure if insurance will cover this... hopefully they will, otherwise strata on this place might sky rocket!
     

    Attached Files:

  2. Depreciator

    Depreciator Well-Known Member

    Joined:
    15th Jun, 2015
    Posts:
    1,963
    Location:
    Sydney
    Yep, that's the block. It's an old brick pit, I think. A bit of a local landmark. I'm not sure why it has suddenly become a problem unless something has stopped excess water draining away or the bank has become unstable. There was a bit of local argy bargy recently about the fact that the local golf course had been draining water for their greens and lowered the water level in the pit substantially. There will be some finger pointing.
     
  3. neK

    neK Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,842
    Location:
    Sydney
    What is the appeal of that pond / old brick pit anyway?

    Last i went there (to attend an auction) a few years back it was all fenced off with "do not enter"... can't see how that is an attraction... more of a eye sore in my opinion.
     
  4. Depreciator

    Depreciator Well-Known Member

    Joined:
    15th Jun, 2015
    Posts:
    1,963
    Location:
    Sydney
    Attracts lots of native birds and has fish in it. If I lived at the back of that block, I would rather look over that pond than look into another block of flats.
     
  5. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,626
    Location:
    At work

    Three I believe
     
  6. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,248
    Location:
    Sydney or NSW or Australia
    I think that a few others own properties in that street too.
     
  7. Depreciator

    Depreciator Well-Known Member

    Joined:
    15th Jun, 2015
    Posts:
    1,963
    Location:
    Sydney
    I missed out on a flat in that complex at auction in December.
     
  8. Steven Ryan

    Steven Ryan Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,656
    I own one in the effected building (by the looks of it). Bit of excitement for my tenants, no doubt. Looks like the media got a bit carried away with a precautionary evacuation. :)
     
  9. Depreciator

    Depreciator Well-Known Member

    Joined:
    15th Jun, 2015
    Posts:
    1,963
    Location:
    Sydney
    The '100 people trapped' was a bit hysterical, too. Mid week there would not be many people at home and they could all just walk out the front door of the building.
     
  10. Steven Ryan

    Steven Ryan Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,656
    And "100 people" is also not close to the number in the affected building. If you count all apartments on the block, maybe but they don't back on to the pond.
     
  11. Biz

    Biz Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,517
    Location:
    Investard county
    You'll just never get a job posting news stories on social media with that kind of attitude.
     
    dabbler likes this.
  12. Steven Ryan

    Steven Ryan Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,656
    This building is becoming quite a star. It was only about 2 years ago that one of those TV reno shows did surprise renos for a few residents.
     
  13. Dean Collins

    Dean Collins Well-Known Member

    Joined:
    21st Feb, 2016
    Posts:
    982
    Location:
    New York
    wow interesting, we bid on a property that backed onto there last year but got outbid........

    I did raise the question of "who owned" the pond etc with the agent and got NFI thought this isn't why we lost the bid....just went too high based on the surrounding rental values.