Purpose of Report: Replacement Building Valuation Report for Insurance Purposes
Date of Report: May 2022
Address: Manly Corso
Total Replacement Value: $119,613,000
Property Description: Constructed upon a unique island allotment on the Manly Corso is an 10 level high rise mixed use building occupying 4 street frontages and comprising of a split level basement utilised by 4 types of occupants being; public parking component, retail component, residential component and serviced apartment operator.
Access to the basement which services 3 lifts is via Gilbert Street with the loading dock being adjacent. The ground level comprises of 9 retail shops with varying uses and 2 separate main pedestrian entries along the West Esplanade frontage; the first being used exclusively for the serviced apartment operator and the second by the residents.
Levels 1 through to level 8 are occupied by residential apartments with access to common facilities including swimming pool, sauna and gymnasium, entertainment area and common courtyard are located at level 2 and 3.
The general construction of the complex comprises of reinforced concrete slabs and columns with expansive balconies or courtyards. The internal fitout of the common areas generally include; plasterboard painted walls and ceilings, tiled and carpeted floors and aluminium and glass windows and shopfronts.
Total Replacement Value:
*We have excluded building areas and other relevant pieces of information from our case study due to privacy reasons, please note this is a case study only being a summary of our completed report.
Our strata valuation reports are totally transparent and simple to follow. We breakup each major component of the building by isolating key infrastructure items within the development. Then we add further cost items like removal of debris and professional costs plus a very important item known as Price Escalation this is essential at the moment with building materials increasing rapidly due to inflationary pressures.