Archive for June 30th, 2014

Leura Spires for sale

Monday, June 30th, 2014

It’s Leura central this week, as Leura Spires commercial building is up for sale.

The residential units have been less than inspiring, with initial investors finding it a long wait to get more than their $330,000 off the plan investment price. It will be interesting to see how the commercial side fairs. The vendor claims $245k p.a. income, but some of the tenants look to be less than commercial (mountains bridge club?). The rent suggests a price around $5 million-ish if the tenants are on standard commercial leases. KLonline bids $1!

If you want to bid more, go here.

The big surprise is the clocks show the same time. Did they stop at 8:40 together? Certainly, they have shown the wrong time 90% of the time the building has existed.