Dear Owners & Residents,

People sometimes ask me how I feel about owning multiple inner city Tank Tower apartments at a time when:

• the apartment market in Brisbane is undergoing rapid expansion
• a lot of inner city apartments coming onto the market around the same time
• Body Corporate fees are high as a result of our window replacement project

My answer is that it depends on if you are in the property market for the short term or the longer term.  Those people who are interested in the short term could definitely be worried.

It is no secret that Body Corporate fees in Tank Tower have increased in the last few years.  If we look back, our Body Corporate fees were extremely low for a long time compared to other buildings, and if we look forward, they will return to a low amount in a few years after we have paid off the window rectification project.

So would I sell my apartments in Tank Tower in the current market?  No.  Why is that?

With more people moving closer to the city, once they get settled they will appreciate the benefits that inner city life brings.  Lets look at the world wide trend of people migrating to cities...

• Australia’s population shift and the big city squeeze

Lets look at some of the recent activity in Brisbane City, including links to news articles, that describe the changes as:

• Biggest changes since Expo
• Brisbane's skyline to be transformed by 2022

Some significant projects, at our door step, that have been completed since I purchased...

• The Kurilpa Bridge - winner of the Australian Construction Achievement Award
• Santos Building - Largest building of its kind in Australia to achieve a 6 Star. Green Star Rating
• Infinity - International Property Award for Best Residential High Rise in Australia Awarded for 'Infinity', Herschel Street, Brisbane CBD

and significant projects in the pipeline

• 304 George Street
• W Hotel - Under constuction
• Queens Wharf

and significant projects likely to be launched soon

• Brisbane Live Entertainment
• Brisbane Metro

So if you are the owner of a 3 bedroom apartment, ripe for renovation, that has potential to be refurbished as unique penthouse styled apartment why would you sell now?!!!

Thanks your interest,

Phill Jones – Tank Tower Chairperson