Mirvac is well known in Australia as a quality property developer. This company is listed on the Australian Stock Exchange and has developed many residential apartment projects, commercial and retail complexes throughout Australia. Meriton Apartments’ on the other hand, is a large privately owned company which has also developed countless residential apartment projects throughout Sydney and Queensland. However, Meriton Apartments have a reputation among property investors in Australia of being a sub-quality property developer whereby the quality of workmanship, fixtures and fittings used in its residential projects are below industry standards.
As a result of all the horror stories which I have been hearing about Meriton Apartments, I only visited Mirvac’s display apartment when the new Adina development was launced in 2006. I did not bother with Sienna By the Bay, which was developed by Meriton Apartments within 30 metres of Mirvac’s property.
Through sheer insistence of a fellow property investor to visit Meriton Apartments’ display apartment, I discovered the exceptional quality of Meriton Apartments’ development. Subsequent to the visit, I ended up purchasing 2 Meriton apartments at Sienna and 2 years on, I believe that my investment in Meriton is starting to pay off very handsomely.
Here are my own personal experience whilst deciding between both Meriton and Mirvac’s development at Rhodes.
A comparison of Meriton Apartments’ Sienna with Mirvac’s Adina:
1. Sienna by Meriton Apartments’ finishings and inclusions are higher in quality and style than Mirvac’s Adina for the following reasons:
a. Meriton Apartments uses the more stylish and modern downlights compared to the oyster ceiling lights used by Mirvac. Personally, oyster ceiling lights are dated and can be found in 30-year old apartment blocks around Sydney.
b. The lifts of Meriton Apartments are notably larger and of higher quality with air-conditioning, downlights and mirrored finishings. Mirvac’s Adina uses smaller lifts throughout the entire complex.
c. Meriton Apartments uses a sturdy loop-pile carpet which is both stylish and more hardy than Mirvac’s cut-pile carpets. This carpet is suitable to both the owner-occupier due to its style and also to investors as it is hardy for tenants’ use.
d. Overall, Meriton Apartments at Sienna have more functional and attractive floorplans than Mirvac’s Adina.
e. High quality powder-coated balcony / courtyard sliding doors with double-lock handles.
f. Meriton Apartments use split-unit reverse cycle air-conditioning in each of the living and bedrooms which are more effective and cost efficient compared to ducted air-conditioning used by Mirvac’s Adina.
g. Common areas of Meriton Apartments were well-lit, corridors were wide and spacious.
2. The sales team of Meriton Apartments is open to price negotiation and flexibility in accommodating additional secured car spaces if required by purchaser. The price of Mirvac’s developments is strictly non-negotiable.
3. The Meriton Apartments’ staff was very professional and assisted me through the pre-settlement inspection, pointing out defects to be fixed which I have even over-looked.
4. Two years later, the cleanliness, security, maintenance and upkeep of the Meriton Apartments are nothing short of excellent. The leasing / building manager for Sienna, Ms Leslie Strydom has demonstrated commitment to customer care, effectiveness in commissioning repairs to teething problems and very professional in her approach.
5. A couple of years on, the Meriton Apartments at Sienna is fully sold and I have also notice the following upgrades and maintenance works which was commissioned recently:
a. Various speed bumps and traffic mirrors were installed in the large underground car parkat Sienna. Obviously, the developer is keen to ensure safety for its occupants even after the project has been completed.
b. The management of the Sienna development keeps a close monitoring of errant parkers on visitors’ car space by owners. This parking issue is an inherent problem in many apartment blocks. However, the developer appears to take this issue seriously to maintain and uphold the by-laws and regulations of apartment living.
c. The gardens and common grounds of Sienna are immaculately maintained.
d. The cleaners assigned by a professional cleaning company at Sienna are extremely efficient and friendly with a great attitude.
e. Security guards at Sienna are professional and have a great attitude to their job.
f. The Sienna pool, spa, gymnasium and sauna are always clean and well-maintained.
There are many project being developed by both Mirvac and Meriton throughout Australia. The debate about which developer offers more quality and value has never been more intense. I believe that Meriton Apartments have significantly improved the quality of their developments over recent years and having seen so many new developments around Australia, I believe Sienna is one that offers quality and value.