Think that having an apartment with a pool, gym and barbeque is great? Think again. Residential apartment facilities are outclassing each other, and today you could find yourself living in a development that has a rooftop lagoon or infinity pools, tropical gardens and much, much more.
Let’s face it, with such busy schedules it is increasingly harder to find a work life balance, but living in an apartment that offers facilities like pools, gyms, saunas or spas offers great appeal and total convenience.
Today there is an increasing demand and trend from tenants and buyers alike who are looking for the resort life package. Having a pool right on your doorstep makes a development much more appealing compared to the development next door which offers no or limited facilities.
According to Adam Sparkes, director of sales and marketing at developer Crown Group, “Five-star resort facilities are more and more sought after by a discerning buying public”.
Each development seems to be picking up its game with facilities ranging from cinemas and libraries, to wine cellars and even having your own concierge wouldn’t go amiss.
One of our latest developments, The James
in Fortitude Valley not only has a gorgeous rooftop pool, gym and lounge area; residents also have access to the level one bar and restaurant as well as all the services you would expect of a hotel. If you fancy room service one night, this is easily ordered by picking up your phone, whilst housekeeping services can easily be arranged.
More rooftop pools and tranquil gardens are popular in Queensland developments due to the climate, but competition from other developers is also having an impact. If another development has a more luxurious rooftop pool, then potential buyers are more likely to flock to this development instead.
One development, FV in Fortitude Valley, Brisbane lets its residents really experience the high life with 5 star resort like facilities. Residents can access the sensational Skyline Pool and bar, as well as relax in the Tropical Retreat, Lounge and Bar areas. There are a number of other spas and intimate bars to take advantage of, as well as karaoke and pool tables. Residents can also experience the Moonlight Cinema and Sunset Dining.
But it’s not just Queensland cashing in to these luxury apartment facilities. In Abbotsford, Melbourne, the gorgeous Eden development has a Rooftop Retreat – a landscaped outdoor dining area with heating and breathtaking city and river views, you can also find a movie lounge here with a fireplace. There is also a lounge with an open fireplace on the ground floor, as well as a lobby bar and business centre. When looking for health and fitness facilities, then Eden doesn’t disappoint with access to a health and wellbeing retreat where you can even find a swim coach, massage therapist, personal trainer and beautician.
Investors are driven by facilities, as they realise that tenants are attracted much more by first class facilities, and this also makes the apartment much easier to sell in the future.
However, it is also important that investors are mindful of the long term costs and strata. Having all these amenities and facilities is all well and good, but there will be a higher cost involved. In larger developments, the cost of these facilities will be shared amongst all the apartments, which helps to minimise these costs, whilst a gym and swimming pool in an 80 unit development would be an unattractive purchase to an investor due to the higher strata costs.
For now though, there is an obvious trend with buyers and tenants wanting the convenience and luxury of these facilities. However, I for one can’t wait to see what else developers bring to the table – perhaps an indoor climbing wall or skydiving simulator?
Published on 16th of February 2015 by Marty Stanowich