End Of Financial Year Report – Atlantis Tower, 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 ‘Atlantis Tower’ at 288 Spencer 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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‘Atlantis’ Sales Statistics

Building Details & Particulars

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Age                         Completed in 2009

Zoning                 Capital City Zone Schedule 1 http://www.dse.vic.gov.au/planningschemes/aavpp/37_04.pdf

Levels                  32

Apartments     First 18 levels are the Astoria City Travel Inn. Levels 19-32 contain residential apartments.

Facilities            Yes: Pool, Sauna, Gymnasium.

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Owners Corp.  Network Pacific

                                  Level 1, 296 Doncaster Road,

                                  North Balwyn Vic 3104

                                  Ph: 03 9816 4722

                                  info@networkpacific.com.au

                                 www.networkpacific.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 exciting in terms of sales figures for 288 Spencer Street.  The Atlantis tower experienced considerable activity, with over double the amount of total sales compared with the previous financial year.  This confirms the high level of interest by investors in this particular building.  Although the average sale price slightly dipped compared to last years figure, this can be explained by over half of all apartments sold being the smaller studio and 1 bedroom apartments. In spite of the global financial crisis, there was a steady increase in sale prices across the board for central Melbourne. Atlantis Tower offers a unique buying opportunity in a highly sought after neighborhood.  This should cushion it from too many market fluctuations for the coming financial year.

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Reported Sales Financial Year 2009-2010

Month Apartment Beds Size m2 Car Price
Jun 2010 2703 1 32 251,000
Jun 2010 2411 1 32.9 245,000
Jun 2010 2008 1 31.5 255,000
Jun 2010 3603 65.5 547,000
May 2010 3209 1 57.4 475,000
May 2010 1907 1 38.3 302,000
May 2010 2007 1 39 245,862
May 2010 2509 1 39.1 380,000
May 2010 2508 1 31.5 245,000
May 2010 2313 57.4 400,000
May 2010 2806 1 42.5 240,630
May 2010 3006 1 35.5 260,000
Apr 2010 2604 1 32 260,000
Apr 2010 2906 42.2 242,590
Apr 2010 1910 1 57.5 273,500
Mar 2010 90 n/a 290,500
Mar 2010 2212 1 32.9 228,000
Mar 2010 2908 1 31.5 228,500
Mar 2010 2911 1 32.9 225,200
Feb 2010 2002 1 40.3 321,000
Feb 2010 3206 1 35.5 243,000
Feb 2010 67 n/a 441,086
Feb 2010 2501 61.7 351,000
Feb 2010 2903 1 32 252,000
Feb 2010 3305 1 39.7 285,000
Feb 2010 2802 1 40.3 295,000
Feb 2010 3205 1 39.7 370,000
Feb 2010 2909 1 39.1 370,000
Feb 2010 3601 64.5 537,000
Feb 2010 2907 39 294,000
Feb 2010 3503 80.7 550,000
Feb 2010 2406 1 42.5 274,450
Feb 2010 1901 57.5 349,500
Jan 2010 3007 1 32.5 233,000
Jan 2010 3303 80.7 590,000
Jan 2010 2012 1 32.9 207,500
Dec 2009 2013 57.4 323,000
Dec 2009 2409 1 39.1 233,002
Dec 2009 2009 1 39.1 246,662
Dec 2009 2807 39 263,862
Dec 2009 2707 39 261,862
Nov 2009 1901 57.5 371,000
Nov 2009 3405 1 39.7 290,000
Nov 2009 2107 39 265,000
Oct 2009 2901 1 61.7 345,000
Oct 2009 2312 32.9 240,000
Sep 2009 2610 1 36 250,000
Sep 2009 3103 2 80.7 1 575,000
Sep 2009 2402 40.3 239,000
Sep 2009 2801 61.7 342,000
Sep 2009 2508 1 31.5 200,000
Sep 2009 2813 1 57.4 1 415,000
Aug 2009 2103 1 32 240,000
Aug 2009 2512 32.9 242,500
Aug 2009 3502 64.7 475,000
Aug 2009 2201 61.7 360,000
Jul 2009 3507 1 32.5 245,000
Jul 2009 3604 66 475,000
Jul 2009 3201 101.3 596,300
Jul 2009 3404 2 70.2 455,000
Jul 2009 3608 1 47 345,000
Jul 2009 3504 2 70.2 470,000

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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 the Atlantis Tower, in the most up and coming part of the city. It has quick and easy access to transport, the Football, fantastic shopping, the docklands, Crown entertainment complex and some of Melbournes best nightlife.

My favorite aspect is nighttime at the Atlantis, The views towards the city or the bay are amazing with some units getting a clear view of the Crown casino fire shows and others getting to feel the energy of the AFL when the roof is open at Etihad.

Match that with the friendly staff both in the building and adjoining shops and the peace of mind of a secure building and you have a real 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 Rent P/Week
Jun. 2010 2007/288 1 39 *
Jun. 2010 2102/288 1 43.3 330
Jun. 2010 2910/288 1 36 330
May. 2010 2806/288 1 42.5 400
May. 2010 3607/288 2 54 550
May. 2010 2113/288 1 32 400
May. 2010 2908/288 1 31.5 350
May. 2010 1906/288 1 42.4 400
Apr. 2010 2211/288 1 32.9 350
Apr. 2010 2911/288 1 32.9 320
Apr. 2010 2608/28 1 *
Apr. 2010 2307/288 1 39 350
Apr. 2010 2507/288 1 39 470
Apr. 2010 2613/288 1 57.4 400
Apr. 2010 3208/288 1 32.5 380
Mar. 2010 2105/288 1 32 350
Mar. 2010 2711/288 1 32.9 370
Mar. 2010 2307/288 1 39 350
Mar. 2010 2106/288 1 42.5 350
Feb. 2010 3102/288 2 64.7 550
Feb. 2010 2408/288 1 31.5 350
Feb. 2010 3403/288 2 80.7 550
Feb. 2010 3203/288 2 80.7 550
Feb. 2010 3009/288 1 57.4 440
Feb. 2010 2301/288 2 61.7 425
Feb. 2010 2310/288 1 36 370
Feb. 2010 2311/288 1 32.9 325
Feb. 2010 2101/288 1 61.7 425
Feb. 2010 2211/288 1 32.9 350
Feb. 2010 2612/288 1 32.9 325
Jan. 2010 3107/288 1 32.5 350
Jan. 2010 3207/288 1 32.5 350
Jan. 2010 3304/288 2 70.2 350
Jan. 2010 3002/288 2 64.7 350
Jan. 2010 3508/288 1 32.5 350
Jan. 2010 3405/288 1 39.7 350
Jan. 2010 3005/288 1 35.5 340
Jan. 2010 2011/288 1 32.9 350
Dec. 2010 2208/288 1 31.5 400

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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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