[COM] Renaissance Arcade | 132m | 40 Levels | Realm Apartments

[normh]

The arcade entrance looks complete but remains unopened. It doesn't look particularly inviting either.

I thought the old stone building would become some sort of commercial space, but at the moment it remains a shell directly open to the utility area/car space.

looking through the windows a few nights ago, it is just open space, not carpark, it looks like normal commercial space but no fitout has happened yet.

[Ozbear73]

Spontaneous drive-by snap today:

[AndyWelsh]

The arcade entrance looks complete but remains unopened. It doesn't look particularly inviting either.

I thought the old stone building would become some sort of commercial space, but at the moment it remains a shell directly open to the utility area/car space.

From today and still closed:







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[Ben]

Has anyone been past the retail part of this development recently?

On a side note you'd be pretty p'd off if your home suddenly turned into a hotel building. Not sure how this continues to happen in Adelaide.

15 AUSTIN ST ADELAIDE SA 5000
UNDER ASSESSMENT
Description: Change of use of 87 residential apartments to tourist accommodation
Application ID: 22002744
Lodged: 01/02/2022
Property details: 15 AUSTIN ST ADELAIDE SA 5000
Name: Arise Hotels and Apartments

[Nort]

Hmm, unsold apartments?

[gnrc_louis]

Hmm, unsold apartments?

Wouldn't be surprised if that was the case - a lot still advertised on Domain etc.

[ChillyPhilly]

Not shocked that many are unsold.

The Adelaide housing and rental market has been screwed hard by overseas and interstate investors who have been using housing for profit.

[citywatcher]

This is done to avoid various taxes and levies .

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[ghs]

On a side note you'd be pretty p'd off if your home suddenly turned into a hotel building. Not sure how this continues to happen in Adelaide.

What difference does it make brother ?

[normh]

On a side note you'd be pretty p'd off if your home suddenly turned into a hotel building. Not sure how this continues to happen in Adelaide.

What difference does it make brother ?

Lots. Those who are not using their apartment as a commercial business are subsidising those who are. The ATO recognises that a commercial operation has a higher wear and tear and shorter life span and things are written off quicker. A property that is used for a commercial purpose also get a write down at a rate of 4% where residential gets 2.5% again a recognition by the ATO that a commercial use has a higher wear and tear. Look at what Ben posted on the 2/2/22 at 8:35 Arise hotels have application to reclassify to "Tourist Accommodation" which equals commercial, 87 apartments. (update - it appears as if the Council approved the application today not that they could have stopped it, it complies with their development plan)

The security of the building is compromised as there is a constant string of strangers in and out of the building. Noise issues are difficult to be dealt with as those at the cause are gone the next day or so and don't care. There is no need for the "hotel" to have 24 hour staff at the property, only need a manager to be on call and able to attend, the condition states in a short period of time? so what does that mean? it is 3am now so I'll be there at 7am?.

Due to the higher wear and tear the community facilities get higher usage require higher maintenance, some warranties don't cover commercial usage, the Body Corp via its fees have to pay for this, that means everyone in the community is subsidising the upkeep of the "hotel". When it does all wear down and needs major revamp, unlike the Hilton and Co who have to spend millions of $$ these "hotels" just leave and the owners are left to upgrade it.


It has a huge impact. These issues are being recognised and felt largely in the Eastern States currently who are progressively introducing laws that allow BC's to ban short term rentals.

[VinyTapestry849]

On a side note you'd be pretty p'd off if your home suddenly turned into a hotel building. Not sure how this continues to happen in Adelaide.

What difference does it make brother ?

Lots. Those who are not using their apartment as a commercial business are subsidising those who are. The ATO recognises that a commercial operation has a higher wear and tear and shorter life span and things are written off quicker. A property that is used for a commercial purpose also get a write down at a rate of 4% where residential gets 2.5% again a recognition by the ATO that a commercial use has a higher wear and tear. Look at what Ben posted on the 2/2/22 at 8:35 Arise hotels have application to reclassify to "Tourist Accommodation" which equals commercial, 87 apartments. (update - it appears as if the Council approved the application today not that they could have stopped it, it complies with their development plan)

The security of the building is compromised as there is a constant string of strangers in and out of the building. Noise issues are difficult to be dealt with as those at the cause are gone the next day or so and don't care. There is no need for the "hotel" to have 24 hour staff at the property, only need a manager to be on call and able to attend, the condition states in a short period of time? so what does that mean? it is 3am now so I'll be there at 7am?.

Due to the higher wear and tear the community facilities get higher usage require higher maintenance, some warranties don't cover commercial usage, the Body Corp via its fees have to pay for this, that means everyone in the community is subsidising the upkeep of the "hotel". When it does all wear down and needs major revamp, unlike the Hilton and Co who have to spend millions of $$ these "hotels" just leave and the owners are left to upgrade it.


It has a huge impact. These issues are being recognised and felt largely in the Eastern States currently who are progressively introducing laws that allow BC's to ban short term rentals.

Another Hotel? Isn't Adelaide already completely saturated with them?

[gnrc_louis]

What difference does it make brother ?

Lots. Those who are not using their apartment as a commercial business are subsidising those who are. The ATO recognises that a commercial operation has a higher wear and tear and shorter life span and things are written off quicker. A property that is used for a commercial purpose also get a write down at a rate of 4% where residential gets 2.5% again a recognition by the ATO that a commercial use has a higher wear and tear. Look at what Ben posted on the 2/2/22 at 8:35 Arise hotels have application to reclassify to "Tourist Accommodation" which equals commercial, 87 apartments. (update - it appears as if the Council approved the application today not that they could have stopped it, it complies with their development plan)

The security of the building is compromised as there is a constant string of strangers in and out of the building. Noise issues are difficult to be dealt with as those at the cause are gone the next day or so and don't care. There is no need for the "hotel" to have 24 hour staff at the property, only need a manager to be on call and able to attend, the condition states in a short period of time? so what does that mean? it is 3am now so I'll be there at 7am?.

Due to the higher wear and tear the community facilities get higher usage require higher maintenance, some warranties don't cover commercial usage, the Body Corp via its fees have to pay for this, that means everyone in the community is subsidising the upkeep of the "hotel". When it does all wear down and needs major revamp, unlike the Hilton and Co who have to spend millions of $$ these "hotels" just leave and the owners are left to upgrade it.


It has a huge impact. These issues are being recognised and felt largely in the Eastern States currently who are progressively introducing laws that allow BC's to ban short term rentals.

Another Hotel? Isn't Adelaide already completely saturated with them?

Nope, quite a low number per capita in the CBD compared to other Australian capitals.

[VinyTapestry849]

Lots. Those who are not using their apartment as a commercial business are subsidising those who are. The ATO recognises that a commercial operation has a higher wear and tear and shorter life span and things are written off quicker. A property that is used for a commercial purpose also get a write down at a rate of 4% where residential gets 2.5% again a recognition by the ATO that a commercial use has a higher wear and tear. Look at what Ben posted on the 2/2/22 at 8:35 Arise hotels have application to reclassify to "Tourist Accommodation" which equals commercial, 87 apartments. (update - it appears as if the Council approved the application today not that they could have stopped it, it complies with their development plan)

The security of the building is compromised as there is a constant string of strangers in and out of the building. Noise issues are difficult to be dealt with as those at the cause are gone the next day or so and don't care. There is no need for the "hotel" to have 24 hour staff at the property, only need a manager to be on call and able to attend, the condition states in a short period of time? so what does that mean? it is 3am now so I'll be there at 7am?.

Due to the higher wear and tear the community facilities get higher usage require higher maintenance, some warranties don't cover commercial usage, the Body Corp via its fees have to pay for this, that means everyone in the community is subsidising the upkeep of the "hotel". When it does all wear down and needs major revamp, unlike the Hilton and Co who have to spend millions of $$ these "hotels" just leave and the owners are left to upgrade it.


It has a huge impact. These issues are being recognised and felt largely in the Eastern States currently who are progressively introducing laws that allow BC's to ban short term rentals.

Another Hotel? Isn't Adelaide already completely saturated with them?

Nope, quite a low number per capita in the CBD compared to other Australian capitals.

Then the Freemason tower hotel and SA1 tower hotel will be great then . But having a hotel in Realm is strange, and will probably annoy the neighbors.

[ChillyPhilly]

Salvador Dali sculpture and Realm.

[ChillyPhilly]

From the roof of the Hotel Richmond today: