#Approved: The Milton (Milton) - 30st/103m/residential

[38921111]

the cost of public transport would be at least 1,861/yr.... plus you'd be paying extra rent to live in west end as opposed to somewhere else that'd be less proximate to transport but cheaper, so add say $75/wk extra in rent, so $3,900. i agree living in west end has lifestyle benefits, but then so does owning a car.

$1,500 is only ~15 days of car rental.... not really that much! say you needed a car for a weekend once a month that'd be $2,400/yr.

so all up it costs you about $8,161/yr to not own a car.

[asdfg]

Good points. So the sums depend on two things

1) How much I would normally spend on a car

and

2) How much I like living in the West End


For (1) I'd probably spend somewhere in the region of $15-30k for the car + running costs (~10k/year?) + parking fees. At the upper end of this range, that is a lot more than your total of $8k, potentially saving me $30k in the first year I buy a car. At the lower end, it's probably $5-10k saved.

(2) can't be quantified in monetary terms but I love living in the West End. Apart from the nice stuff that exists on my doorstep, daily commutes are negligible, which also brings a nice lifestyle bonus (no sitting in traffic for me, average wait for a bus is 3-4 minutes).

[brizguy]

Originally Posted by asdfg

Good points. So the sums depend on two things

1) How much I would normally spend on a car

and

2) How much I like living in the West End


For (1) I'd probably spend somewhere in the region of $15-30k for the car + running costs (~10k/year?) + parking fees. At the upper end of this range, that is a lot more than your total of $8k, potentially saving me $30k in the first year I buy a car. At the lower end, it's probably $5-10k saved.

(2) can't be quantified in monetary terms but I love living in the West End. Apart from the nice stuff that exists on my doorstep, daily commutes are negligible, which also brings a nice lifestyle bonus (no sitting in traffic for me, average wait for a bus is 3-4 minutes).

I have the same thing living in new farm, apart from big shops in which someone with a car will help me i have zero need of one.

[asdfg]

Originally Posted by brizguy

I have the same thing living in new farm, apart from big shops in which someone with a car will help me i have zero need of one.

Yep, I use Coles online to solve that problem...

[asdfg]

Don't get me wrong, I also love driving at the weekend, I just don't $25k love it.

[SoulvisionQ1]

Originally Posted by asdfg

I don't have a car, purely because the cost-to-benefit doesn't seem worth it at all. It's really a luxury, given the cost. Instead, I live in a nice apartment in the West End next to the City Glider route.

Me too RE West End Apartment + City Glider route! I'm car free as well, and love it! Don't get me wrong, I would love to have a car for the weekends, but the trade off of not having a car is definitely worth it.

[38921111]

which maniac pays $25k in cash for a car??? you lease one, in the exact same way you lease your apartment. the cost of a brand new car then works out at about $400/mo.

that said, i completely agree with you about living in the inner city. i just think your arguments about car ownership are weak and self-serving.

[bribri]

Originally Posted by 38921111

which maniac pays $25k in cash for a car??? you lease one, in the exact same way you lease your apartment. the cost of a brand new car then works out at about $400/mo.

that said, i completely agree with you about living in the inner city. i just think your arguments about car ownership are weak and self-serving.

This maniac would. I recently looked at buying a $32,000 dollar car outright or leasing it with tax benefits through work. Leasing it including paying out the residual even after the tax benefits still cost me $54,000 over 4 years! I would rather pay for it outright than spend an extra $22,000.

[asdfg]

So a decent car would be $400/month + insurance + running costs

Do you need pay maintenance on a leased car, or is that covered in the lease?

[bribri]

Originally Posted by asdfg

So a decent car would be $400/month + insurance + running costs

Do you need pay maintenance on a leased car, or is that covered in the lease?

My quote was for about $500 a fortnight but included servicing, fuel etc.
If i did 20,000 to 30,000Km a year it might make sense but like you I live innercity and only drive 8000km a year.
It occurred to me the other day that one day when I retire I will just get rid of the car and rely on PT and taxis....cheaper than buying a new car.

[BrizzyChris]

I would love to not own a car and get rid of the ongoing costs, but unfortunately my current worksite is not in the CBD, and while I could probably get PT there, it would be in the range of a 1.5 - 2hr one-way trip, as opposed to my current 25-30min drive. So effectively doubling/tripling the daily commute. But that's Brisbane for you.

[JayT]

Originally Posted by brizguy

I have the same thing living in new farm, apart from big shops in which someone with a car will help me i have zero need of one.

I used to live in New Farm. I would park my car on a Friday afternoon after work and not use it again until Monday morning. There was no need.

[nathandavid88]

The Milton has apparently almost reached 60% sold with, I can't believe I'm actually saying this, construction starting next month!!!

Making tracks for Milton
Date
December 20, 2012 - 12:01AM
Be the first to comment Read later

Marissa Calligeros
brisbanetimes.com.au reporter


Milton Station is set for an upgrade.

Nearly 60 per cent of apartments in Brisbane's first transit-oriented development have sold off-the-plan, with construction due to start next month.

Developer FKP has embarked upon the $210 million development, on Railway Terrace alongside Milton train station, selling 170 of 298 one and two-bedrooms apartments from $495,000.

"More than $100 million of apartments have now sold off-the-plan in the project," marketing agent Bryce O'Connor said.


The Park Road dining precinct is set to be extended onto Railway Terrace.

The Milton has been designed to extend the Park Road dining precinct onto Railway Terrace, with FKP unveiling plans last month for a vibrant retail promenade on the ground floor of the 30-storey tower.

Five retail tenancies over 1200 square metres have been released.

FKP general manager Gary Kordic said he expects inquiries to ramp up over summer.

"The project is entering an exciting new phase, which is a fantastic milestone, not just for FKP but for Brisbane, as the first integrated transit-oriented development under the South East Queensland Regional Plan to come to fruition," he said.

Construction is due to finish in 2015.

Milton has evolved from an industrial hub on the Brisbane River to an emerging commercial precinct, with Origin Energy, Sunsuper, Sandvik and Monadelphous Engineering establishing offices in the inner-city suburb.

"We believe demand will be particularly strong from cafes, predominantly looking to service the worker population and the weekend crowd, along with restaurants and bars aimed at capturing the after-work and residential markets," CBRE leasing agent Julian Musial said.

“Park Road is undoubtedly one of Brisbane's most recognised dining destinations and we see the opportunity to build upon that, and with the extension of the retail promenade into Railway Terrace, Milton is set to become an iconic destination for entertainment and retail."

Mr Kordic said the development would include a multi-million dollar upgrade of Milton train station.

Meanwhile, Andrew Roubicek, of Colliers International, said he expects between 2000 and 2500 new one- and two-bedroom apartments to hit the Brisbane market in the next 18 months.

"Typically we have seen robust sales volumes with the release of new projects, particularly boutique developments, and with 63 per cent of mooted projects in the short-term expected to yield less than 100 apartments there is the potential for a slight increase in sales activity,” he said.

He said investors were continuing to drive the inner-Brisbane apartment market.

According to the 2011 census, 67 per cent of all apartments in inner-Brisbane are rented.

Mr Roubicek said gains in premium apartment sales had resulted in the median sale price climbing 9 per cent over the September quarter to $452,500 – the highest quarterly median since the most recent peak in early 2010.

“The inner Brisbane apartment market remained relatively stable over the September quarter in the wake of a strong nine-month period,” he said.

“While transaction volumes declined 15 per cent to 366 over the three months to the end of September, they are still well above the five-year quarterly average of 255, and we expect these figures to be revised upwards once settlement data becomes available for all projects.”


Read more: http://www.brisbanetimes.com.au/quee...#ixzz2FXUct2n3

[BrizzyChris]

Ha...I'll believe it when I see a crane on site. But would be nice to see this finally rise.

[Oriolus]

Awesome news! Just noticed that I was the one who started this thread back in 2005. I lol'ed at my first sentence in the first post. Ahh young Oriolus, you have no idea

Originally Posted by Oriolus

Not going to happen for a while but...

[bribri]

God...7 years! No wonder people become cynical about whether these projects ever get up.

[mr gladiator]

Im really happy this project is happening, I hope its the start of something big for Brisbane

[brisnorthside]

Work near this and the display office / building was moved off site today. There are things starting to happen at the site

[GMAC]

On a related topic, there was a story in Saturdays Home section regarding a newly approved (I think) tower/s up to 20 stories (i think) directly across the road from The Milton. Anyone know anything about it??

[kikflip]

I believe that would be Railway Terrace. There is a thread for it, I don't think it's been updated since the middle-end of last year.