End Of Financial Year Report – 270 King Street, Melbourne

It’s that time of year again!

Dionne Wilson from Harcourts City Residential has prepared your 2009-2010 End of Financial Year Report for 270 King Street, Melbourne.

We hope you enjoy it and look forward to your feedback.

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‘Melbourne’ Apartment Sales Statistics

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‘270 King’ Sales Statistics

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Building Details & Particulars

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Age                             Building renovated in 2001

Zoning                     Capital City Zone Schedule 1 –

                                      http://www.dse.vic.gov.au/planningschemes/aavpp/37_04.pdf

Levels                       17

Facilities                Yes: Pool, Sauna, Gymnasium

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Owners Corp.      Bridge Owners Corporation

                                      G/Floor, 270 King St

                                      Melbourne, Vic 8010

                                      Ph: 9600 1442

                                      www.bocm.com.au

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Council                   City of Melbourne

                                      P.O Box 1603

                                      Melbourne VIC 3001

                                      Ph: 9658 9658

                                      enquiries@melbourne.vic.gov.au

                                      www.melbourne.vic.gov.au

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Water                       City West Water

                                      Locked Bag 350

                                      St Albans Road

                                      Sunshine  VIC  3020

                                      Ph: 131 691

                                      www.citywestwater.com.au

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Building Comment:

The past 12 months have been positive for 270 King Street with prices up and owners enjoying steady growth. The previous financial year yielded the highest sale on record for the building thus giving the total and maximum sales figures a strong skew, yet in light of this the building boasts a healthy increase in prices.

Despite the uncertainty of the global financial crisis in the past year, 270 King has seen an increase in average apartment sale prices of over $23,000.

We envisage that this financial year will see continuing interest from investors and from the rental results below you can see the excellent investment opportunity that 270 King St offers in a strongly sought after neighbourhood. This in turn should cushion it from too many market fluctuations.

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Reported Sales Financial Year 2009-2010

Month Apartment Beds Size m2 Car Price
Jun 2010 708 2 67 $485,000
May 2010 1503 3 96 1 $560,000
May 2010 1105 2 72 $380,000
May 2010 806 1 61 $325,000
Apr 2010 109 2 103 $398,000
Apr 2010 402 2 67 $370,000
Apr 2010 804 3 97 1 $515,000
Apr 2010 1110 2 81 $385,000
Feb 2010 508 2 84 $405,000
Feb 2010 203 3 96 $491,000
Feb 2010 302 2 67 $390,000
Nov 2009 1401 1 53 $300,500
Oct 2009 1210 2 81 $390,000
Oct 2009 1108 2 84 $400,000
Sep 2009 1407 2 84 $450,000
Sep 2009 1601 3 129 2 $620,000
Aug 2009 607 2 84 $372,000
Jul 2009 806 1 61 $298,000
Jul 2009 1508 2 84 $440,000

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What’s My Property Worth? http://cityresidential.harcourts.com.au/Value.aspx

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Buyer Profiles

Over the past 12 months the most common buyer profiles buying in the building have been

Astute and Emotional Investors.

Use this link for a full description of these buyer profiles and others we often work with throughout the inner city – http://tinyurl.com/289vdhm

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Dionne Says Do Not Miss…….

I love the central location of 270 King Street, it’s in the most up and coming part of the city with quick and easy access to transport, fantastic shopping, the docklands, Crown entertainment complex and some of Melbournes best nightlife.

If you are a coffee lover then you will no doubt be captivated by the intoxicating aroma that emanates from a friendly nearby neighbour, The Dancing Goat Café.  Located at 280 King Street, this intriguingly named quaint little coffee house is home to the 2009 Victorian Barista of the Year, Jesse Hyde.  With a delicious menu, warm surroundings and an award winning owner the Dancing Goat Café is a surefooted winner.

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What our Vendors say…….

“Thank you again for all your assistance over the past few weeks. You have been able to assist us in achieving a result that we are extremely happy with. The whole process we have felt as if we were your only client and that the result was as important to you as us. Your service and professionalism has been amazing so we appreciate the assistance, again……. We could not have been happier with the process”.

Andrew – Recent Vendor

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For more testimonials from past, present and potential clients from both sale & leasing please visit – http://harcourtscityresidential.wordpress.com/testimonials/

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Reported Rentals

Month Apartment Bedrooms Size m2 Car Rent P/Week
Jun 2010 1606 2 84 $550
Jun 2010 1107 2 84 $400
May 2010 204 3 97 $750
Apr 2010 1209 2 69 $430
Mar 2010 1301 1 53 $360
Mar 2010 1601 3 129 $750
Mar 2010 1009 2 69 $430
Mar 2010 1207 2 84 $550
Mar 2010 601 1 53 $330
Feb 2010 2 $490
Feb 2010 1003 2 96 $530
Feb 2010 908 2 84 $430
Feb 2010 408 2 84 $450
Feb 2010 1405 1 72 $460
Feb 2010 901 2 53 $350
Jan 2010 403 2 96 $460
Dec 2009 1502 1 67 $450
Dec 2009 706 1 61 $340
Dec 2009 810 2 81 $480
Dec 2009 1 $320
Dec 2009 2 $450
Nov 2009 1406 1 61 $335
Oct 2009 1604 1 60 $350
Oct 2009 306 1 61 $320
Sep 2009 1506 1 60 $340
Sep 2009 1401 1 53 $315
Aug 2009 1605 2 81 $550
Jul 2009 1 $360
Jul 2009 805 2 72 $400
Jul 2009 1205 2 72 $420

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What’s My Property Worth?http://cityresidential.harcourts.com.au/Value.aspx

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What our Landlords say…….

“Harcourts City Residential were terrific. I had a vacant Melbourne City apartment in a prime location for three months with my previous Melbourne city agent. I then spoke to Dionne Wilson from Harcourts City Residential. As soon as speaking to Dionne, I knew her professionalism and helpfulness would ensure my apartment would be tenanted very soon. Not only did Dionne find me tenants within 10 days, Dionne was able to market my apartment at the market price (which was my asking price) and not a much lower price that my previous agent had my apartment advertised at .Thank you Dionne and Harcourts City Residential my stress is finally over.”.

Antonio – Landlord

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For more testimonials from past, present and potential clients from both sale & leasing please visit – http://harcourtscityresidential.wordpress.com/testimonials/

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Referral Partners:

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Harcourts Financial Services:

Working with all major lenders Harcourts Financial Services is your obligation-free one stop shop to finding the “best fit” loan available for you at any given time. Remember it’s not just about the cheapest loan, whilst that’s important, it’s even more important to have the right loan for what you what to achieve now and in the future as refinancing down the track can be expensive. Harcourts Financial Services professional brokers work with you to get it right the first time! Email us to have your local broker contact your today. cityresidential@harcourts.com.au

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Strand Conveyancing Services:

A dedicated team of professionals with many years experience make transacting in property an easy and straightforward process. Strand are in partnership with Pointon Partners Lawyers, a leading Australian commercial law firm, with specialist expertise in property law matters so no matter how complex or technical your transaction may be, they have the necessary professional expertise on hand to ensure everything runs smoothly. Email us today for more information or to have a Strand consultant call you cityresidential@harcourts.com.au

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Real Property Matters:

Depreciation schedules are an essential tool for investors to make sure you’re getting the maximum tax benefits from your property investment. Real Property Matters are experts in this field and have a range of innovative, market leading tools adding additional value to this important service. As a client of Harcourts you’ll receive a special rate and additional services; email us so we can ensure you get the Harcourts special rate. cityresidential@harcourts.com.au

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Helpful Links:

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Foreign Investment Review Board – FIRB

Recent change in legislation has affected foreigners purchasing property in Australia. It’s important to be aware of any restrictions that may be placed on you when considering purchasing property in Australia if you’re not an Australian or New Zealand Citizen. You can seek further information from the FIRB website – http://www.firb.gov.au/content/real_estate/real_estate.asp

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State Revenue Office – SRO

The State Revenue Office are responsible for the calculation and collection of Stamp Duty and also govern the First Home Owners Grant FHOG among other things.

State Revenue Office Stamp Duty Calculator http://tinyurl.com/33f99jc

First Home Owners Grant – FHOG

Information – http://tinyurl.com/3ybukne

Application – http://tinyurl.com/36ahvjg

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Australian Tax Office – ATO

From Capital Gains Tax to allowable deductions you’ll find lots of helpful information on the ATO website or contact your qualified accountant.

http://www.ato.gov.au/

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Dionne Wilson
Harcourts City Residential
Ph:
03 9664 8100
E: cityresidential@harcourts.com.au

Web: www.cityresidential.harcourts.com.au

*Harcourts City Residential has gathered this information to provide an interesting read for apartment owners and prospective purchasers. Harcourts City Residential may not have concluded 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 accuracy of 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 advice or fact.

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

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