Clarendon Towers is a building that is now 20 years old and was built for the Barron Family by Multiplex who have been the premier builder in Melbourne for the past 25 years. With recent ‘cladding issues with fire risks ’ in city residential buildings Clarendon Towers has a first class rating with the Insurers and is not on the government list of buildings regarded as a fire risk.
With recent structural problems with apartment buildings in Sydney, the quote from an engineer ‘never buy in a building that is less than 10 years old – it takes this amount of time for structural problems to surface’ is probably a pretty accurate assessment. The bronze façade at the lower levels at the front of the building does present a minimum risk and the Owners Corporation are currently addressing this with the building’s underwriters. As an aside, the Barron family’s company at the time was 80 Clarendon Street Pty Ltd and the first residents were told the address was 80 Clarendon Street, Southbank.
Melbourne City Council records the address as 45 Haig Street as does the Titles Office, over time the 45 Haig Street address has become used more often but a lot of people say, corner of Clarendon and Haig Streets. We even have two street numbers on the Building to help people find it – no matter what address you choose to use. The first thing that strikes visitors is the magnificent lobby / foyer which in recent apartment builds is an absolute rarity – developers have reduced lobbies to a minimum to save on cost and achieve a higher yield or profit from the development. The next thing you will notice is the wider common area passage ways – then you notice the much higher ceilings and larger rooms in each apartment, even laundries!
Unfortunately, current developers have sought to minimize the size of apartments to maximize their return or yield and at the same time keep the purchase price within affordable ranges. The smart buyer should concentrate their search for apartment buildings that are over 10 years of age with apartments of generous space and a great location – Clarendon Towers completely fills this bill as the first rule, location, location, rings so true. Resident owners’ apartments in the Building are now going through a stage of transition where we find new buyers are delighted with their purchase and renovating and upgrading their new home.
This is a natural process within a building of 20 years of age but it is exciting for everyone both new owners and long term residents as this activity only increases values and desirability. Clarendon Towers has from day one been regarded as one of Melbourne’s premier places to reside – our current ratio of resident owners is approximately 55% which would be one of the highest in the city for the given number of apartments. Often it is quoted that “Clarendon Towers is our home and we treat it as our home’ the building maintenance is paramount where everything connected with the Building is kept in first class order.