Alkira House – 18 Queen St – End of Financial Year Report 08-09

Harcourts City Residential

In this report, Dionne Wilson has prepared an overview of all sales &  rental transactions* for 18 Queen St, for the 2008/2009 financial year along with extra details about the building and a forecast for the year ahead. 

You can find this and more Real Estate blogs at http://harcourtscityresidential.wordpress.com/ 

Melbourne Apartment Overview FY  08-09Apartment Sales in Melbourne:        1753Clearance Rate in Melbourne:          79%
Average Sale Price in Melbourne:   
$503,347 

SALES RESULTS –  Financial Year 08-09:*

No sales recorded in this period

RENTAL RESULTS – Financial 08-09:*

?/18             Jun 09              2 Bed           1 Bath              $360 pw

?/18             May 09             1 Bed           1 Bath              $390 pw

?/18             March 09          2 Bed           1 Bath              $440 pw

41/18           Jan 09              1 Bed           1 Bath              $360 pw

?/18             Dec 08              2 Bed           1 Bath              $360 pw

5.2/18          Oct 08              2 Bed           1 Bath              $380 pw

61/18           Jul 08               Studio          1Bath               $340 pw

Features: Streamlined Moderne, it features a green tile frame around industrial glass blocks providing natural light to the stairway. Additional fins curve back over the parapet and lock onto the facade.

Brief History:  Alkira House, a six storey, reinforced concrete office building, was erected in 1937 as an investment by Harold and Annie Cohen. J.H. Wardrop was the architect and Swanson Bros the builders. The facade, composed of strong vertical panels and shafts, is expressed by contrasting grey, green and black terra cotta faience tiles with a central continuous panel of glass blocks surmounted by a cleverly contrived waterfall tower. Alkira House is of architectural significance as an exceptional example of the vertical jazz moderne style in Victoria, a style considered to be extremely avant-garde and rarely adopted for building in this State between the wars. The facade reflects modern office building philosophy then developing in Europe, especially the Dutch and German experiments in glass, vitrolite and terracotta of the 1920s and 1930s. Alkira House was in sharp contrast to the revivalist nature of architecture in Melbourne in the 1930s, and while it has some similarities to the Manchester Unity and Myer buildings, it is considerably more flamboyant.

Demographics: An exclusive Art Deco boutique block, 18 Queen St has a good mix of owner occupied and investors.

18 Queen St Forecast for the 09-10 Financial Year: Whilst early stagnation in 2009 caused by the GFC saw a reduction in clearance rates we envisage that continuing first home owner interest and buying power will keep the market buoyant in Melbourne.

With interest rates tipped to continue to rise, we could experience a leveling of the general market in 2010 particularly in the pre $500,000 range. Investors have started to make a comeback in 2010 with first home owners lose their puff and buying power. 

For further information on this, or any other property needs you may have, please contact:

 

Dionne Wilson

Business owner and director – Harcourts City Residential

Ph: 03 9664 8100          Mob: 0417 318 705

Email: dionne.wilson@harcourts.com.au   

Web: www.cityresidential.harcourts.com.au

*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.

If your property is exclusively listed with another agent please disregard this communication

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