BPM apartment settlements proceed with just two defaults
Staff reporterDecember 7, 2020
BPM development boss Jonathan Hallinan has revealed only two settlements failed to proceed in two projects in the past two months, in the supposed much-troubled Melbourne and Brisbane apartment markets.
They were the 40-unit Black Fold project in Brisbane's West End and the 30-unit Light Edge project in Melbourne.
"We've settled 70 in the last two months," Hallinan told Fairfax Media.
"Over two projects, we've had two fall over. Those two were very quickly resold."
Black Fold was a collaboration between BPM, Noel Robinson Architects and Hecker Guthrie with one and two bedroom apartments.
The 27-29 Bank Street project was a sellout after its 2015 marketing.
Black Fold's rooftop terrace is complete with entertaining arena and uninterrupted views across the city.
Black Fold is situated 1.5 kilometres south west of the CBD.
BMP property management's division is offering rentals including a 2 bedroom, 2 bathroom apartment with 1 car space from $470 per week to $575 a week.
They are offering four weeks rental for free.
Hello Realty has a 2 bedroom, 1 bathroom apartment available at $430 a week.
The 204 apartment, currently rented out at $400 per week with the lease ending June, 2018, has been listed at $445,000.
It sold off the plan at $417,500 in 2015, the cheapest among the block which saw sales up to $575,000.
BPM’s project, Light Edge, 30 apartments over six levels came with a design by DKO Architects, on Elizabeth Street in Richmond.
It sparked immediate buyer interest with 15 sold or reserved within two weeks of its sales release in late 2015.
They sold between $417,500 and $775,000.