Rogue marketing claims in offshore Australia 108 registrations

Rogue marketing claims in offshore Australia 108 registrations
Rogue marketing claims in offshore Australia 108 registrations

The Australian estate agency CBRE has suggested the recent offshore marketing of Melbourne's tallest building, Australia 108, was being undertaken by "rogue" agencies.

Last week a Singaporean agency started taking buyer interest registrations, on which Property Observer reported. The website page was removed this week.

Screenshots from the Singaporean website marketing Australia 108 before it was removed.

CBRE was also aware of another Singaporean company taking registrations using dated imagery of the former project.

The ambitious project's former owner, a mostly local Melbourne developer syndicate had begun privately taking deposits on the then 108-storey proposal offering from late 2012.

But the revised project, which is still awaiting final floor plan designs, is now being developed by the Singaporean company, Aspial.

At 319 metres it will be the tallest block in the southern hemisphere.

There will be an estimated 1,105 apartments in the complex, located up to its 100th level with a 2019 estimated completed date.

"It is a rogue operator attempting to get registrations," CBRE Residential Projects Victoria managing director Andrew Leoncelli told Property Observer.

"It's my project," he said, adding the two Singaporean agencies were "unauthorised".

Giving an estimated November 2014 to March 2015 timetable for the initial marketing, he indicated CBRE was the only appointed agency.

While CBRE have not yet taken any registrations, a January 2013 CBRE press release after the development site sale to the Aspial group indicated "people who have registered their interest in an Australia 108 apartment will be contacted with an update on designs for the tower once plans are further advanced." 

The prior Australia 108 consortium included Nonda Katsalidis; investor Adrian Valmorbida; developer Benni Aroni representing the Watersun syndicate made up of himself, Gary Caulfield, Rob Elliott and others; and the Beulah International syndicate representing the Malaysian partners.

Comment has been sought from Aspial.

The Knight Frank Singaporean commission agent spoken to by Property Observer said he had authorisation to take inquiries and registrations.

"Our company has been appointed," he said referring Property Observer to the agency website, which has since been taken down.

Rogue marketing claims in offshore Australia 108 registrations

 

Designed by Melbourne-based and internationally renowned architect, Fender Katsalidis, the iconic tower comes with a striking starburst at levels 70 and 71 that will house Melbourne’s highest and largest recreational facilities area for residents.

The iconic golden starburst will be located 210m above ground level and will house luxurious services for residents, including club lounges, fitness centres and private dining spaces, private theatres as well as two large gymnasiums and infinity edge pools, all of which will enjoy spectacular views over Melbourne. Level 70 will also feature a sky garden,

Facilities on level 70 will be for all residents, while residents living in the 170 apartments located above the starburst (from level 72 onwards) will enjoy exclusive access to private recreational facilities on level 71. The tower’s luxurious penthouse will exclusively occupy level 100. 

“We see significant opportunities and interest in the Melbourne property scene – given it has been voted the most livable city in the world1 for the last four years. said Mr Koh Wee Seng, CEO of Aspial recently.

“The Group is extremely privileged to be able to deliver such a landmark project in Melbourne, where we see a great appetite for luxury apartment living. We believe this building will redefine luxury living and also play a major role in showcasing Melbourne as a world-class city and leader in modern architecture,” Koh Wee Seng added, indicating the project had a S$1 billion gross development value.

Prices for one bedroom apartments will start from A$450,000. 

 

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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