Olympic Park Residential Tower Evacuation

Discussion in 'Property Market Economics' started by qak, 24th Dec, 2018.

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  1. Jana

    Jana Well-Known Member

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    Building fails for various reasons, mainly foundation settlement. The issue in OPAL is well clear now, just require restrenthinig the HOB or related area, just column panels.

    I don’t have any property in OPAL or not considering buying in Sydney next couple of years unless see a good opportunity.
     
    Last edited by a moderator: 23rd Jan, 2019
  2. TMNT

    TMNT Well-Known Member

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  3. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    Translation - Our property sales spruikers are still chasing buyers and we have doubled the number of phone operators since December. They dont mention the word Opal when they call them from offshore at dinner time.
     
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  4. Jana

    Jana Well-Known Member

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    She must be thankful, the buyers asked half the price. Deal or no deal. Since new building sellers wouldn’t come so low as their buying price is too high...
     
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  5. dragon

    dragon Well-Known Member

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    I don’t think even for half price no one will be buying it. I won’t buy. I don’t know any of you think this as bargain at half price.

    Now Its the sad story of sydney.
     
  6. Jana

    Jana Well-Known Member

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    Personally, I would offer around 1/3rd. Reward is worth for the risk, mainly the present market condition. Mkt itself correct another 10% if so Opal May correct double of itself from current buying price. Need to factor it.
     
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  7. dragon

    dragon Well-Known Member

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    Now listed for 600k +.
    1/3 means around 200k for 2BR. Mhh thats good bargain. With that much loss why someone will sell it.. its all depends on personal circumstances.
     
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  8. Jana

    Jana Well-Known Member

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    I think the original price is way higher, not 600k.
     
  9. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    I think there are a lot of keyboard warriors who would struggle to complete on this kind of purchase. It makes great media and forum speculation in the meantime however... I struggle to enter the banter as I feel so bad for the owners. It must be awful.
     
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  10. TMNT

    TMNT Well-Known Member

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    Inside Opal Tower’s ‘ground zero’


    I know this is not the ideal situation but if its his "dream home"
    If hes going to live in it, then the value shouldnt matter.

    Unless he has to get a val.

    Speaking of which, if you got a pro valuer, how much would it come up as?
     
  11. dabbler

    dabbler Well-Known Member

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    It wont matter, lenders would be very weary ATM given the RC and building probs, so you would prob have to get money elsewhere or have cash.
     
  12. AlexV_Sydney

    AlexV_Sydney Well-Known Member

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    From The Opal Tower final report (abc/sbs):

    “Three major causes were highlighted:

    The report found the hob beams — a beam that sits on the edge of a slab of concrete or pillar — were "under-designed" at a number of locations in the building.

    A decision to "grout only partially" a section between the hob beams and panels "significantly raised the levels of stress" in the building

    Construction and material deficiencies such as "lower-strength concrete" were used in level 4-A of the building“

    ...

    "We found some of the hob beams and panel assemblies were under-designed according to the National Construction Code and Australian Standards, leaving the beams prone to failure.

    "We consider the building is overall structurally sound and the localised damage to the building can be rectified."

    Design, construction flaws at Opal Tower

    Opal Tower builders used lower-strength concrete, beams burst under pressure - ABC News (Australian Broadcasting Corporation)
     
    Last edited: 22nd Feb, 2019
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  13. Noobieboy

    Noobieboy Well-Known Member

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    I am happy to offer a young goat and a reasonable lifetime supply of toilet paper for a 3 bedroom apartment in the building.
     
  14. TAJ

    TAJ Well-Known Member

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    You are overpaying!
     
  15. Car tart

    Car tart Well-Known Member

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    How attractive is the goat?
     
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  16. TMNT

    TMNT Well-Known Member

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    depends on what brand of toilet paper
     
  17. Cimbom

    Cimbom Well-Known Member

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    Back in Canberra!
    I'm waiting for some donations when my prediction a few pages back comes true :p
     
  18. Noobieboy

    Noobieboy Well-Known Member

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    Thanks, Offer has been withdrawn.

    Not too bad. She can speak languages
    73450793-portrait-of-funny-goats-with-a-rose-in-the-mouth-isolated-on-white-background.jpg

    I was planning to provide "Who gives a crap" brand. But offer has been withdrawn unfortunately.
     
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  19. Scott No Mates

    Scott No Mates Well-Known Member

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    Backwards?
     
  20. TMNT

    TMNT Well-Known Member

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