SMH BusinessDay reports that a number of big redevelopments are planned on the fringes of the Sydney CBD, converting older style office blocks into upmarket residential towers. Developers can make more money on strata apartment sales then they can by leasing the offices.
In the Beecroft area, there is a good example of this with the Waldorf Apartment block on City View Road, which used to be the Waldorf Hotel and was converted to up market apartments a few years ago. Ray White Beecroft have an apartment on the top floor of that block for sale, and it certainly offers a great lifestyle for a single man or someone commuting to Sydney from elsewhere. Close to the railway station, and with gym, swimming pool, bar and restaurant all part of the complex, as well as being surely a great investment!
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