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
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Council City of Melbourne
P.O Box 1603
Melbourne VIC 3001
Ph: 9658 9658
enquiries@melbourne.vic.gov.au
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Water City West Water
Locked Bag 350
St Albans Road
Sunshine VIC 3020
Ph: 131 691
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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.
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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.