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mike68

11,875 Posts.

22/03/18

21:19

Post #: 31963117
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Originally posted by Barg ↑

There are old units and old units. Some are utilitarian monstrosities and some have character and ambience. The latter will hold their price (if they are in a desirable location). The ugly ducklings 'may' hold their price, but will not appreciate much, given they become what's termed as 'beyond their high and best use.' In other words, they have passed their useful life span. Modern, contemporary units are comparable with the older, ornate masterpieces of architecture in so far as capital appreciation goes. But again, location, views and design will always dictate future price and locked in value of any property.

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I have a question in relation to old clapped out units

if the block of land is worth more than the units, I'm assuming the owners can just demolish and sell up the land?

In that scenario, who gets what? The reason I ask, is it may be a block of varied sized units, some 1,2,3 br sized
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