End Of Financial Year Report – 229 Queen Street, Melbourne

Republic 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 ‘Republic Tower’ at 299 Queen Street, Melbourne.

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

 

‘Melbourne’ Apartment Sales Statistics

‘299 Queen St’ Sales Statistics

 

Building Details & Particulars

Age                                   Built in 1999

Architect                     Fender Katsalidis 

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

Levels                            36

Facilities                      Yes: Pool, Sauna, Gymnasium.

 

Owners Corp.           Melbourne Body Corporate Services

                                           (03) 9863 9100

 

Council                        City of Melbourne

                                           P.O Box 1603

                                           Melbourne VIC 3001

                                           Ph: 9658 9658

                                          enquiries@melbourne.vic.gov.au

                                          www.melbourne.vic.gov.au

 

Water                           City West Water

                                          Locked Bag 350

                                          St Albans Road

                                          Sunshine  VIC  3020

                                          Ph: 131 691

                                          www.citywestwater.com.au

Building Comment:

The past 12 months have been extremely positive for Republic Tower with prices up across the board and owners enjoying significant growth.  There was an average increase of apartment prices over $53,000 and a healthy return in terms of rentals.  The fact that a low number of apartments changed hands in the last financial year reminds us again that property at this address is very tightly held, yet highly sought after.

After speaking with many of the owners in the building it is evident that spirits are very high and most owners are certainly satisfied with the appreciation in value of their property.

Republic Towers offers a unique buying opportunity in a highly sought after location.  This should cushion it from too many market fluctuations for the coming financial year.

Reported Sales Financial Year 2009-2010

Month Apartment Beds Size Car Price
Oct 2009 151 2 144m2 1 995,000
Sep 2009 173 3 153m2 1 950,000
Aug 2009 142 3 146m2 1 985,000

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

Buyer Profiles

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

Upgraders and Empty Nesters.

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

Dionne Says Do Not Miss…….

I love the futuristic boldness of the Republic Tower.  The untreated concrete, metal, and dark tinted glazing make a bold urban statement and really give this soaring tower a landmark feel. 

Aside from the incredible nighttime Melbourne views, close proximity to the Flagstaff Gardens and Queen Victoria market, my favorite feature of the Republic Tower is the integration of the four-storey art installations on the buildings façade.  Care of The Visible Art Foundation, this often controversial imagery is another example of how artistic vision has been implemented into every aspect of this unique tower.

Although being spoilt for choice with a plethora of eateries within the area, owners have remarked upon the quality and service of the restaurant within the building itself, Quanjude. Be sure to pop in and try the delicious and renowned Quanjude Roast Duck!

 

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

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

Reported Rentals

Month Apartment Bedrooms Size Rent p/w
May 2010 351 2 100m2 $520
Mar 2010 161 3 144m2 $800
Dec 2009 93 3 153m2 $800
Oct 2009 3 $850
Sept 2009 213 3 144m2 $800

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

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

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

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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