Apartment glut starts to hit home

first_img805/43 Ferry Road, West End, on the market in Pradella’s Breeze for $988,000. Brisbane’s skyline has changed in the past two years.Mr Pradella had told the Brisbane City Council CEO that “due to current residential market conditions the construction of the final stage is yet to commence … Accordingly we are seeking an extension to the currency period of 48 months until 24 December 2022 and a permissible change to amend the completion date for the development.” Mr Fry said “I wrote a letter to Kim Pradella personally and they took 13 weeks to reply. Now I will be paying rent for another few years. It’s really disappointing, especially the lack of communication. It’s the first time I’ve ever bought a unit, I’m 60 years of age. This is very poor form from a company that raves about how good they are.”Neither Mr Pradella nor his marketer Peter Robertson from Position Property would comment on what buyers were being told. Development manager Brett Lentz said in an emailed response to queries that “construction is scheduled to commence in the first quarter 2018 completing in the second half of 2019”.A Brisbane City Council spokesman said approval period extensions were “allowable under State Government planning law” and take into account changes that have occurred since the original application.“The extension to the approval period that Council grants can vary, although are generally for between one and four years,” he said. “There is no provision under State Government planning law for parties to notify future buyers about changes to development approvals.” FOLLOW SOPHIE FOSTER ON FACEBOOK FREE: GET THE COURIER-MAIL’S REALESTATE NEWS DIRECT TO INBOX Buyer Stephen Fry at the site of Pradella’s empty Breeze site. Picture: Adam HeadHUNDREDS of buyers could have as much as a four-year wait for their new apartments, and some residential projects may not go ahead at all as Brisbane’s unit market begins to bite.Already one of Queensland’s richest developer family firms Pradella has postponed a major apartment project, after asking for a four-year extension from Brisbane City Council. The state government opened the door to developers postponing projects by as much as four years after it amended existing land laws to permit the hefty extensions.Latest industry reports estimate it will take more than two years for developers to sell off apartments that are currently on the market in inner Brisbane, with 45 per cent of projects in the development pipeline also on hold.With sales volumes dropping off a cliff, buyers who’ve already paid deposits — like Stephen Fry in Pradella’s Breeze — have been left in the lurch. Mr Fry struggled to get answers from Pradella and its marketers Position Property for the better part of this year as to why the site was still bare earth.“I certainly wouldn’t have bought there if I knew there was any sort of hint that they wouldn’t build in time,” he said. “I went out and bought furniture thinking I’d be moving in November.”He was shocked when shown a document signed by Pradella head Kim Pradella asking for a four-year extension in April this year — which council granted. More from newsParks and wildlife the new lust-haves post coronavirus23 hours agoNoosa’s best beachfront penthouse is about to hit the market23 hours agoPradella’s new date to begin Breeze construction is January 2018.last_img read more

Orji Okwonkwo:I will be a better player under Thierry Henry

first_img Okwonkwo, 22, joins from Italian side Bologna, after his eight goals in the 2019 season earned him Impact’s Most Valuable Player award. Despite reported interest from European clubs, he returns for his second spell with the club, managed by France and Arsenal legend Henry. “I’m looking forward to making a bigger impact when I wear the shirt again,” Okwonkwo, who has the option to join on a permanent deal, told BBC Sport. “I feel lucky to get a chance to work under a legend like [Thierry] Henry. I can learn important tips on how to be a better player from someone who has won the World Cup and achieved so much at club level as well. “You don’t get an opportunity like this all the time, I really plan to make the most of it. “I know a lot of the players and I am really excited about our prospects this season after missing out on the play-offs last season.” The 2015 Under-17 World Cup winner extended his deal with Bologna until June 2024 before returning to North America. Montreal failed to make the 2019 play-offs and parted company with coach Wilmer Cabrera when his contract ran out at the end of the campaign. But Okwonkwo’s agent Femi Olaniran believes the forward can achieve more success on his return to the club and grow under a new manager. “Henry played a big role in his decision to return to Impact Montreal and this is a legend of the game,” Olaniran told BBC Sport. “As a winger he managed eight goals last season but he can achieve more under the tutelage of this great forward. “Orji is young, eager to learn and could have gone elsewhere, but he is aware that he can continue to grow under one of the best strikers in world football.” Okwonkwo previously played in Italy between 2016 and 2019, scoring three goals in 27 Serie A matches with Bologna, including four starts. He joined the Italian club in 2016 from FC Abuja Academy in his native Nigeria spent the second half of the 2017-18 season on loan at Serie B side Brescia. At international level, Okwonkwo started three games for Nigeria at the 2019 Africa Under-23 Cup of Nations, scoring a goal against Zambia. Read Also:Man Utd outcast offered £5m-a-year deal by MLS club He starred as the West African nation clinched a fifth U-17 world title in Chile, appearing in five games throughout the tournament. He scored in a 4-2 win against Mexico in the semi-final game. FacebookTwitterWhatsAppEmail分享 Nigeria youth international Orji Okwonkwo, has promised to be a better player while featuring in the Major League Soccer (MLS) side Montreal Impact under manager Thierry Henry.center_img Loading…last_img read more

Chinese club confirm Anelka signing

first_imgShanghai Shenhua have confirmed the signing of Nicolas Anelka from Chelsea on a two-year deal reportedly worth £175,000-a-week.Anelka will officially join the Chinese Super League side in January after snubbing interest from a number of clubs, including West Ham.Shanghai, who finished 11th in their league last season, have also been linked with Anelka’s Blues team-mate Didier Drogba.AdChoices广告Anelka, 32, scored 38 Premier League goals for Chelsea, who signed the French striker from Bolton for £15m in January 2008.Follow West London Sport on Twitterlast_img read more