Park Tower – 201 Spring St, Melbourne
2008-2009 Financial Year Report for 201 Spring St, Melbourne
Harcourts City Residential
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INTRODUCTION | ||||||||||||||||
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‘Park Tower’ Sales Statistics | ||||||||||||||||
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BUILDING DETAILS & PARTICULARS | ||||||||||||||||
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REPORTED RENTALS – Financial Year 2009 – 2010 | Rent (pw) | Date | |||
13th Floor | 1 | 1 | 0 | 420 | 08/2008 |
8th Floor | 1 | 1 | 1 | 380 | 08/2008 |
2nd Floor | 1 | 1 | 0 | 400 | 07/2008 |
Demographics: 201 Spring street caters to a mix of owner occupied clientele, with very affordab le entry level properties all the way to high end renovated penthouses. The property is of particular interest to people looking to live and work from the city especially young professionals as well as dual occupiers wishing to use the unit as a second home.
Near-by Construction Underway: 260 million dollar plans to restore and extend the Historic Windsor Hotel have drawn mixed reactions, with some questioning the impact the 25 storey extension located at the rear of the property would have on the heritage feel of the Paris end of Melbourne. With construction slated to commence late 2010 it is sure to remain a discussion point.
201 Spring St Forecast for the 09-10 Financial Year: Whilst early stagnation in 2009 caused by the GFC saw a reduction in clearance rates, the stimulus package saw the sub $600K market flourish and now confidence is returning to the high end market.
Given the good mix of units in the building there is likely to be continuing interest from first home buyers hoping to secure an entry level apartment in the city through to established buyers and investors looking to expand their portfolios.
For further information on this, or any other property needs you may have, please contact:
James Edmundson
Sales Consultant – Harcourts City Residential
Ph: 03 9664 8100 Mob: 03 9664 8116
E: James.Edmundson@harcourts.com.au
Web: www.cityresidential.harcourts.com.au
Disclaimer: *Harcourts City Residential has gathered this information to provide an interesting document for apartment owners and prospective purchasers. Harcourts City Residential may not have affected any or all of the transactions noted; rather we’ve gathered as much market information as possible on ALL transactions to be as conclusive as possible.
Information contained herein is gathered from a range of sources including but not limited to; The Age Property Results, The Herald Sun Property Results, Valuer General Information & Agents own investigations. All efforts are made to verify the information provided. The information is not to be relied upon or used in dealings with third parties and people should make their own investigations regarding their own property or personal circumstances. Opinions offered are just that, our opinions & observations and should not be treated as fact.
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