Both apartments auctioned at Ray White City Apartments today were sold under the hammer. A Quadrant studio, out of the hotel pool, went for just over $12,000/m² and a furnished unit in Kiwi on Queen for $10,360/m².
Both units sold quickly and at high price levels compared to the generally low & slow state of the auction market for over 12 months.
The Quadrant, 10 Waterloo Quadrant, unit 1815:
Features: 22m² studio
Outgoings: rates $4432/year including gst (currently rated commercial; council says residential rates will be about $1200/year; body corp levy $3139/year including gst
Income assessment: $390/week, fixed until January – out of hotel pool
Outcome: sold for $266,000, at $12,091/m²
Agent: Damian Piggin
Kiwi on Queen, 421 Queen St, unit 1006:
Features: 42m², furnished 3 bedrooms
Outgoings: rates $1362/year including gst; body corp levy $5979/year including gst
Income assessment: $630/week, fixed until December
Outcome: sold for $435,000, at $10,357/m²
Agents: Mitch Agnew & Ryan Bridgman