How to buy a quality apartment, August 2005

BUYING A QUALITY APARTMENT – August 2005

Eeek, it can be hard to work out which apartment style to go for.
Leadlight windows, sir? Or is an architect-designed swanky pad more your bag? Oh, and let’s not forget the textured brick delights built in the 1960s and 1970s – some of ‘em aren’t too bad as long as you shut your eyes.
Sydney has three distinct genres of apartment development: the Art Deco, the brick bunkers and the sleek designer apartments that sold like hotcakes during the last decade.
Royal Australian Institute of Architects president Bob Nation says each boom period created distinct building styles, all with their own unique markers of quality.
“Each era had a different approach to building and therefore a different feeling,” he says.
“The really old stuff was quality construction with substantial rooms, high ceilings and things that just aren’t built today due to economic considerations.
“The 1960s was all about economic opportunity rather than quality space and the modern apartments are often better designed but use lightweight materials.”

THE ART DECO GEMS

Characterised by brown brickwork, ornate plasterwork, high ceilings and leadlight windows, Art Deco apartments are the most gracious and charming of Sydney’s apartment styles.
But how do you tell a good leadlight window from a bad one? And are some buildings better than others?
Laing Real Estate’s Anthony Birdsall says the best Art Deco apartments are in Potts Point and nearby harbour suburbs as they were built for wealthy farming families who needed a place to stay in the city.
“Some of those genuine company title buildings are just magnificent inside – beautiful features like detailed timber floors, gorgeous coloured windows and most with great views,” he says.
Fatouros says the quality Art Deco apartments have large rooms and often take in a harbour or ocean view.
“When apartment development takes off, it usually starts in the premium suburbs and that’s where you get the best-quality finishes. Location is everything,” he says.
Bresic Whitney Estate Agents principal Shannan Whitney agrees, saying Art Deco apartments further away from the development centre in Potts Point often have smaller rooms, lower ceiling heights and less ornate details.
THE PLUSES: They are usually small blocks of four to six units, often with generous land around the building. Character features like leadlight windows, polished timber floorboards, high decorative ceilings, picture rails. Larger-than-average floor spaces.
THE MINUSES: Can be costly to bring a building up to today’s strict fire ratings. Some have been badly renovated and lost original features. Not all Art Deco apartments are of the same quality. Many are company title and have restrictive policies. They were not constructed to maximise natural light, and there are rarely balconies or outdoor areas.
THE SIGNS OF QUALITY: Look for generous floor spaces – more than 65 square metres for a one-bedroom and more than 80 square metres for a two-bedroom apartment. The more ornate and detailed the windows, ceilings and brickwork features are, the better. The top-floor apartments are sought after as they receive more natural light, but if you get one on the ground floor make sure some courtyard space is on title.

THE RED AND BLONDE BRICK BOXES

Seeking “quality” in these brick bunkers can seem like an oxymoron, but goodyerDonnelly principal Debbie Donnelly says the much-maligned apartment style does have some saving graces.
“Some of them have great views. That’s the most important thing to look for with these apartments – especially if you want to sell for a good price,” she says.
Nearly every suburb in Sydney has examples of 1960s and 1970s unit development “which was absolutely unfettered compared to today”, says BIS Shrapnel’s apartment analyst Angie Zigomanis.
The so-called “six-packs” which were built throughout Sydney on large residential blocks have the worst reputation as they often overlook other properties, have little cross-ventilation and no privacy or ornate features.
Whitney says the 1960s and 1970s blocks have returned to favour in the last five years as more people appreciate the simple, minimalist style.
“You definitely get more for your money with these units and that makes them very popular,” he says.
“Once you get to the higher end of the price range, they can be 20 or even 25 per cent cheaper than other unit styles.”
Nation says some of the 1960s and 1970s buildings were solidly constructed and some display “quality modernist outcomes”.
“Most four storey walk-ups were really quite terrible, but certainly not all. The solidity of materials is a good sign that they were built to last,” he says.
Birdsall says it’s important to look for the rare apartments with ceilings higher than 9 feet, especially as many have spray-on vermiculite ceilings which most people prefer to cover with gyprock.
“In some of those buildings, the ceilings were so low that to lose 4cm or so with gyprock makes the place look even smaller – definitely go for decent ceiling heights,” he says.
THE PLUSES: The highrise towers often have never-to-be-repeated views and most have large windows for good natural light. Balconies became a big feature, along with better on-site parking and internal laundries. The best feature is that they can be 10 to 20 per cent cheaper than other apartment styles. The strata levies can be lower than other styles of apartments.
THE MINUSES: Unappealing exteriors, reviled vermiculite ceilings, very little architectural input means some blocks have dreadful outlooks and cross-ventilation. Many were built purely for profit rather than for owner occupation, so privacy and aesthetic appeal were not high on the list of priorities.
THE SIGNS OF QUALITY: Large windows in the living spaces, particularly with a generous wide balcony off it. A harbour view is the most in-demand, followed by an ocean view. A park or leafy district view is a minimum. Security buildings with carparking and nice gardens around the building are hallmarks of a quality development.

AND THEN CAME THE DESIGNER NAMES

With increasing land shortages, developers had to make denser developments in the 1990s which led to the rise of architect-designed apartments.
“Being architect-designed was very important because it let developers make the most of the space and also make it nicer for people to live in them,” Fatouros says.
Zigomanis agrees, and says the best modern apartments have been designed by a “name” architect and developed by a reputable company – Harry Seidler and Allen Jack + Cottier have both been associated with quality modern buildings .
“Marchese is another name to look out for, and anything built by Mirvac is well-respected,” says Fatouros.
Donnelly says the pet-friendly strata by-laws of many modern buildings adds buyer appeal.
“So many people want to live in an apartment, but also want a dog – there is no way an Art Deco block would allow dogs,” she says.
Whitney says the dog-friendly rules in buildings like Republic, Altair and Moore Park Gardens make them very attractive to buyers.
“Pet friendly policies are important, probably more important than the high end facilities like concierge, gym and pool.”
THE PLUSES: Top quality facilities like pools, gyms and concierges are available. Some offer pet-friendly strata policies. Security parking, video intercoms and larger balconies and outdoor areas became commonplace in modern units.
THE MINUSES: Often large developments with more than 20 units in a block. Not all were well-built and many have noise attenuation issues. There is a premium price paid for new units that may not be recouped when the unit is on-sold. The swimming pools, concierges and gyms often make the strata levies high.
SIGNS OF QUALITY: Check for construction quality – especially the thickness of walls between apartments. Look for generous floor spaces and large outdoor terraces, preferably with a view. Security parking for at least one car is a must.

SO WHAT IS BEST?

Fatouros picks Art Deco units as the best for long-term value, but you will pay more for them.
“I’m backing the old stuff too – the construction is solid and there is an opportunity to revisit and renovate in a new and modern way,” says Nation.
Donnelly says 1960s and 1970s will give the best bang for the buck.
“You’ll get a balcony, a car space and internal laundry for a lot less than you’d pay in an Art Deco block,” she says.
Whitney prefers modern designer apartments in high quality buildings offer a great lifestyle.
“There can be a real sense of community and lifestyle in these places that make people pay a lot to live in them,” he says.

CASE STUDY

When Rosie Brodribb wanted to move from a large house to an apartment, she had one 60kg problem.
Her dog, Max.
“Most apartment buildings don’t allow pets and if they did, they wanted me to carry it across the common areas or some such nonsense,” she says.
Brodribb was looking for a high quality apartment in the Potts Point area and paid $2.85 million for a three-bedroom, two-bathroom unit in the Pomeroy building.
“The minute I found out they would let me have a dog, I bought it,” she says.
“I wouldn’t have considered living in an Art Deco because I really wanted everything to be new – I didn’t want to have to do a single thing.”
Brodribb moved in to the 180 square metre apartment on the sixth floor in August last year.
The unit has Sydney Harbour Bridge and Opera House views, as well as an outdoor terrace. It is in a small block of 38 apartments serviced by a live-in caretaker.
“The views can never be built out from this building and I can truly say that I never hear the neighbours because there is only one common wall,” she says.
Pomeroy was built by the Winten Group on the site of the old Chateau Hotel. All apartments have larger-than-average floor plans.

APARTMENT QUALITY CHECKLIST

LOCATION: Regardless of building style, the location is the deciding factor when it comes to quality. “If it is close to transport, schools and lifestyle facilities like beaches, it will be attractive to renters and owner occupiers,” LandMark White director of residential valuation Bill Fatouros says. A waterfront location is the premium spot to be in.

COMMON WALLS: The less shared walls, the better. And it’s the same with floors and ceilings – being on the top floor is prized because there is no-one living above you.

VIEWS: “It’s always, always, always about the view,” says goodyerDonnelly principal Debbie Donnelly. Harbour views of the bridge and opera house are the most sought after, followed by beach or city views. “A park or a district outlook is also nice,” says Fatouros. A view of your neighbour’s wall or balcony is a distinct disadvantage.

ASPECT: Living spaces and balconies that have a north or north east aspect are desirable because they will have the most natural light. The aspect of the main bedroom can also be important.

POSITION Top floor is always the most prized for views and outlook – although if it’s the top floor of a four-storey walk-up it might not be quite as sought after.

BUILDING QUALITY: Is it well constructed built by a quality builder or developer, is it surrounded by nice gardens or cracked concrete? How solid are the materials used for construction. A double brick building is the best quality.


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BUYING A QUALITY APARTMENT – August 2005 Eeek, it can be hard to work out which apartment style to go for. Leadlight windows, sir? Or is an architect-designed swanky pad more your bag? Oh, and let’s not forget the textured brick delights built in the 1960s and 1970s – some of ‘em aren’t too bad as long as you shut your eyes. Sydney has three distinct genres of apartment development: the Art Deco, the brick bunkers and the sleek designer apartments that sold like hotcakes during the last decade. Royal Australian Institute of Architects president Bob Nation says each boom period created distinct building styles, all with their own unique markers of quality. “Each era had a different approach to building and therefore a different feeling,” he says. “The really old stuff was quality construction with substantial rooms, high ceilings and things that just aren’t built today due to economic considerations. “The 1960s was all about economic opportunity rather than quality space and the modern apartments are often better designed but use lightweight materials.” THE ART DECO GEMS Characterised by brown brickwork, ornate plasterwork, high ceilings and leadlight windows, Art Deco apartments are the most gracious and charming of Sydney’s apartment styles. But how do you tell a good leadlight window from a bad one? And are some buildings better than others? Laing Real Estate’s Anthony Birdsall says the best Art Deco apartments are in Potts Point and nearby harbour suburbs as they were built for wealthy farming families who needed a place to stay in the city. “Some of those genuine company title buildings are just magnificent inside – beautiful features like detailed timber floors, gorgeous coloured windows and most with great views,” he says. Fatouros says the quality Art Deco apartments have large rooms and often take in a harbour or ocean view. “When apartment development takes off, it usually starts in the premium suburbs and that’s where you get the best-quality finishes. Location is everything,” he says. Bresic Whitney Estate Agents principal Shannan Whitney agrees, saying Art Deco apartments further away from the development centre in Potts Point often have smaller rooms, lower ceiling heights and less ornate details. THE PLUSES: They are usually small blocks of four to six units, often with generous land around the building. Character features like leadlight windows, polished timber floorboards, high decorative ceilings, picture rails. Larger-than-average floor spaces. THE MINUSES: Can be costly to bring a building up to today’s strict fire ratings. Some have been badly renovated and lost original features. Not all Art Deco apartments are of the same quality. Many are company title and have restrictive policies. They were not constructed to maximise natural light, and there are rarely balconies or outdoor areas. THE SIGNS OF QUALITY: Look for generous floor spaces – more than 65 square metres for a one-bedroom and more than 80 square metres for a two-bedroom apartment. The more ornate and detailed the windows, ceilings and brickwork features are, the better. The top-floor apartments are sought after as they receive more natural light, but if you get one on the ground floor make sure some courtyard space is on title. THE RED AND BLONDE BRICK BOXES Seeking “quality” in these brick bunkers can seem like an oxymoron, but goodyerDonnelly principal Debbie Donnelly says the much-maligned apartment style does have some saving graces. “Some of them have great views. That’s the most important thing to look for with these apartments – especially if you want to sell for a good price,” she says. Nearly every suburb in Sydney has examples of 1960s and 1970s unit development “which was absolutely unfettered compared to today”, says BIS Shrapnel’s apartment analyst Angie Zigomanis. The so-called “six-packs” which were built throughout Sydney on large residential blocks have the worst reputation as they often overlook other properties, have little cross-ventilation and no privacy or ornate features. Whitney says the 1960s and 1970s blocks have returned to favour in the last five years as more people appreciate the simple, minimalist style. “You definitely get more for your money with these units and that makes them very popular,” he says. “Once you get to the higher end of the price range, they can be 20 or even 25 per cent cheaper than other unit styles.” Nation says some of the 1960s and 1970s buildings were solidly constructed and some display “quality modernist outcomes”. “Most four storey walk-ups were really quite terrible, but certainly not all. The solidity of materials is a good sign that they were built to last,” he says. Birdsall says it’s important to look for the rare apartments with ceilings higher than 9 feet, especially as many have spray-on vermiculite ceilings which most people prefer to cover with gyprock. “In some of those buildings, the ceilings were so low that to lose 4cm or so with gyprock makes the place look even smaller – definitely go for decent ceiling heights,” he says. THE PLUSES: The highrise towers often have never-to-be-repeated views and most have large windows for good natural light. Balconies became a big feature, along with better on-site parking and internal laundries. The best feature is that they can be 10 to 20 per cent cheaper than other apartment styles. The strata levies can be lower than other styles of apartments. THE MINUSES: Unappealing exteriors, reviled vermiculite ceilings, very little architectural input means some blocks have dreadful outlooks and cross-ventilation. Many were built purely for profit rather than for owner occupation, so privacy and aesthetic appeal were not high on the list of priorities. THE SIGNS OF QUALITY: Large windows in the living spaces, particularly with a generous wide balcony off it. A harbour view is the most in-demand, followed by an ocean view. A park or leafy district view is a minimum. Security buildings with carparking and nice gardens around the building are hallmarks of a quality development. AND THEN CAME THE DESIGNER NAMES With increasing land shortages, developers had to make denser developments in the 1990s which led to the rise of architect-designed apartments. “Being architect-designed was very important because it let developers make the most of the space and also make it nicer for people to live in them,” Fatouros says. Zigomanis agrees, and says the best modern apartments have been designed by a “name” architect and developed by a reputable company – Harry Seidler and Allen Jack + Cottier have both been associated with quality modern buildings . “Marchese is another name to look out for, and anything built by Mirvac is well-respected,” says Fatouros. Donnelly says the pet-friendly strata by-laws of many modern buildings adds buyer appeal. “So many people want to live in an apartment, but also want a dog – there is no way an Art Deco block would allow dogs,” she says. Whitney says the dog-friendly rules in buildings like Republic, Altair and Moore Park Gardens make them very attractive to buyers. “Pet friendly policies are important, probably more important than the high end facilities like concierge, gym and pool.” THE PLUSES: Top quality facilities like pools, gyms and concierges are available. Some offer pet-friendly strata policies. Security parking, video intercoms and larger balconies and outdoor areas became commonplace in modern units. THE MINUSES: Often large developments with more than 20 units in a block. Not all were well-built and many have noise attenuation issues. There is a premium price paid for new units that may not be recouped when the unit is on-sold. The swimming pools, concierges and gyms often make the strata levies high. SIGNS OF QUALITY: Check for construction quality – especially the thickness of walls between apartments. Look for generous floor spaces and large outdoor terraces, preferably with a view. Security parking for at least one car is a must. SO WHAT IS BEST? Fatouros picks Art Deco units as the best for long-term value, but you will pay more for them. “I’m backing the old stuff too – the construction is solid and there is an opportunity to revisit and renovate in a new and modern way,” says Nation. Donnelly says 1960s and 1970s will give the best bang for the buck. “You’ll get a balcony, a car space and internal laundry for a lot less than you’d pay in an Art Deco block,” she says. Whitney prefers modern designer apartments in high quality buildings offer a great lifestyle. “There can be a real sense of community and lifestyle in these places that make people pay a lot to live in them,” he says. CASE STUDY When Rosie Brodribb wanted to move from a large house to an apartment, she had one 60kg problem. Her dog, Max. “Most apartment buildings don’t allow pets and if they did, they wanted me to carry it across the common areas or some such nonsense,” she says. Brodribb was looking for a high quality apartment in the Potts Point area and paid $2.85 million for a three-bedroom, two-bathroom unit in the Pomeroy building. “The minute I found out they would let me have a dog, I bought it,” she says. “I wouldn’t have considered living in an Art Deco because I really wanted everything to be new – I didn’t want to have to do a single thing.” Brodribb moved in to the 180 square metre apartment on the sixth floor in August last year. The unit has Sydney Harbour Bridge and Opera House views, as well as an outdoor terrace. It is in a small block of 38 apartments serviced by a live-in caretaker. “The views can never be built out from this building and I can truly say that I never hear the neighbours because there is only one common wall,” she says. Pomeroy was built by the Winten Group on the site of the old Chateau Hotel. All apartments have larger-than-average floor plans. APARTMENT QUALITY CHECKLIST LOCATION: Regardless of building style, the location is the deciding factor when it comes to quality. “If it is close to transport, schools and lifestyle facilities like beaches, it will be attractive to renters and owner occupiers,” LandMark White director of residential valuation Bill Fatouros says. A waterfront location is the premium spot to be in. COMMON WALLS: The less shared walls, the better. And it’s the same with floors and ceilings – being on the top floor is prized because there is no-one living above you. VIEWS: “It’s always, always, always about the view,” says goodyerDonnelly principal Debbie Donnelly. Harbour views of the bridge and opera house are the most sought after, followed by beach or city views. “A park or a district outlook is also nice,” says Fatouros. A view of your neighbour’s wall or balcony is a distinct disadvantage. ASPECT: Living spaces and balconies that have a north or north east aspect are desirable because they will have the most natural light. The aspect of the main bedroom can also be important. POSITION Top floor is always the most prized for views and outlook – although if it’s the top floor of a four-storey walk-up it might not be quite as sought after. BUILDING QUALITY: Is it well constructed built by a quality builder or developer, is it surrounded by nice gardens or cracked concrete? How solid are the materials used for construction. A double brick building is the best quality.