[COM] 114 Waymouth Street | 78m | 26lvl | Wingfold Tower

[Ben]

All the promotional cloth on the fencing has been removed.

[Blimp]

Perhaps its a sign of some imminent action? The application for the superstructure, the sales persons May start time claim and now the signage removed. Either im being very optimistic or somethings about to happen!

[Algernon]

All the promotional cloth on the fencing has been removed.

Must be washing day

[Blimp]

Anyone in the area noticed any site activity?

[rhino]

Anyone in the area noticed any site activity?

I can see the front half of the site from my office window and there is bugger all going on.

[EBG]

With the recent rain, this years crop of selected Australian weeds promises to be a bumper harvest.

[crawf]

What a joke.

[Norman]

Went into the display office today. The agent said that they are currently choosing a builder and that construction should start in the next 2 months. He didn't look very assured though.

[Blimp]

I wonder if those that have bought in are being kept well-informed? From an outsider looking in they've provided no recent updates.

[Patrick_27]

To be honest, I hope this one flops. The exterior design is OK but what they're offering inside comes across as cheap and nasty. Go back to the drawing board and bring something to the table that's actually competitive with every other apartment proposal popping up around Adelaide.

[Algernon]

To be honest, I hope this one flops. The exterior design is OK but what they're offering inside comes across as cheap and nasty. Go back to the drawing board and bring something to the table that's actually competitive with every other apartment proposal popping up around Adelaide.

Just continuing the theme that in every development thread there's going to be one individual with a massive personal hardon (MPH).

I hope this one goes ahead.

[ghs]

I tend to agree with Patrick, Datong seem so unprofessional they don't deserve
suçcess. I rang the number on the website for this development a few weeks ago and
there was no answer at all and no answering machine. How bad is that ?

They've also been saying for quite a long time that sales are at 80%, which
I think is not true. If they had sold 80% then why hasn't construction
started ?

[Ben]

Not sure if this is dead?

[Blimp]

What a joke, surely they've been fudging sales figures for awhile. If this was truly 80% sold as they've been harping for ages then we would be seeing it go up.

Feel sorry for the buyers who are in the dark. Hopefully they sell the site and someone who is committed to putting something up comes along.

[AdelaideGo]

U2 has not fudged their figures, they have sold more than 80%.

Problem is, they have sold it for too cheap, the whole project is only making $110 million gross, after minus GST and sales commission and marketing cost, the developer only gets around $94 million.

Their build cost is around $72 million after rounds and rounds of cost cutting. On top of that, $2.5 million of land cost and several more millions of consultant fees. Before deducting and interest/finance cost, the profit has already shrink to less than $20 million.

No banks wants to finance it. It is not going to happen unless Datong will build it with cash.