It’s the iconic block of flats that welcomes you over the bridge into East Queanbeyan – and now it seems every twenty-something this side of Braidwood is in the market for one of the ‘50 cent flats’.
Apartments within the octagonal building at 18 Trinculo Place are selling like hotcakes, and with a price tag of around $240,000, it’s not surprising they’re most popular with young first homebuyers.
For less than half the price of an ex-housing commission house in Donald Road, you get two bedrooms, an internal laundry, and uniquely-shaped rooms – including kitchen – that align with the unusual exterior angles of the building.
And then – there’s the location.
The flats are famously adjacent to eastern end of the Queens Bridge: stumbling distance from the Leagues Club and other local pubs, and just a brisk stroll from a kebab or your weekly grocery shop at Coles in Riverside Plaza.
Director of real estate agency Hayman Partners, Brett Hayman, sold apartment number 11 to a twenty-something man two weeks ago for $250,000 He’s now the sales agent for number four, a first floor, 48sqm flat that’s had extensive renos to modernise the kitchen, and combined bathroom/laundry. (And check out the strategically placed beams covering the gravel or
‘popcorn’ roof common in most flats in Queanbeyan.)
The eight-sided unit block was built in 1972.
“People are coming for inspections and just can’t believe how close to town they are,” Brett said.
“I think from the exterior they find it a bit interesting, but when they come inside they’re surprised by an intriguing use of space, light, angles and bespoke fittings.”
Brett expects 4/18 Trinculo Place will sell in the $250,000 to $260,000 range, again to a first homebuyer. In 2001, the units were selling for around $50,000.
“When it comes to just getting your foot in the door in the property market, these apartments are perfect,” he said.
“And they have strong rental potential for people looking for an investment property.”
Editor’s note to whoever buys the unit: don’t forget to factor in the cost of a Queanbeyan Golf Club