Head in the Clouds

Cumulus- A trendy Melbourne eatery with a real sense of character.

45 Flinders Lane

http://cumulusinc.com.au/

If you’ve ever walked down Flinders lane from Spring street at the Paris end of Melbourne you can’t have missed Cumulus, with its huge windows and open plan layout through to the kitchen it’s a real eye catcher. This month the team from Harcourts enjoyed a Friday lunch eating out. Our meal consisted of a tight selection of fresh seafood and cured meats matched with a good selection of wines which left us full whilst avoiding the post lunch sleepiness, making it prefect for a business lunch. The staff were friendly and attentive and gave great advice on some of the less familiar dishes.

Offering gourmet takeaway at very reasonable prices it’s also high on the list for a quick bite on the run. Open 7 days for breakfast lunch and dinner and always busy, with a no booking policy unless your group exceeds 7 people it’s best to get there with time to spare and like so many Melbourne eateries be patient or have a backup plan.

Untitled

End of Financial Year Report “The Hero” / 118 Russell Street, Melbourne Report for 2010 – 2011 , Prepared by Bob Budd & Esmè Gordon

 

Common-Buyer-Profiles10

Common Buyer Profiles

First-Home-Owners-Grant5

First Home Owners Information

Foreign-Investment-Review-Board6

Foreign Investment Review Board

Stamp-Duty-Calculator5

Stamp Duty Calculator

Whats-my-property-worth5

What’s my property worth?

 

Agent Comment:

“Located in the Paris End of Melbourne CBD, “Hero” building (118 Russell Street) has been treasured by both its owner occupiers and tenants.  Central to all the amenities Melbourne city has to offer, coupled with rich history and modern architectural design, 118 Russell has truly been a Hero in the city residential market.”

Future Reports:

Financial Report 2012 Financial Report 2013 Financial Report 2014

BUILDING DETAILS & PARTICULARS

Building Facilities:

N/A
Building Name: The Hero

Year Built:

1948 – Refurbished 1999

Owners Corporation:

Gough Partners – Level 1/261 High Street, ASHBURTON   VIC   3147 – 1300 046 844

Building Manager:

Dan Hanily – 0417 124 519

No. In Block:

149 Apartments
Council: City of Melbourne
Zoning: Capital City Zone Schedule 1 http://tinyurl.com/23clumr

Reported Sales: Financial Year 2010-2011

Month Apartment Beds Size m2 Price
Apr 2011 406 2 62m2 $345,000
Apr 2011 1303 3 175m2 $1,380,000
Apr 2011 1302 3 131m2 $1,310,000
Apr 2011 1210 1 56m2 $400,000
Apr 2011 1301 3 164m2 $1,400,000
Mar 2011 1004 2 91m2 $675,000
Mar 2011 713 2 71m2 $455,000
Aug 2010 511 1 55m2 $355,000
Aug 2010 303 2 92m2 $570,000
Jul 2010 805 2 60m2 $480,000
Jul 2010 208 1 TBC $379,000

Reported Rentals: Financial Year 2010-2011

Month Apartment Bedrooms Rent P/Week
Nov 2011 1403 2 $1000.00
Nov 2011 1011 1 $420.00
Sep 2011 809A 1 $600.00
Sep 2011 202 2 $850.00
Sep 2011 204 1 $420.00
Aug 2011 507 2 $550.00
Aug 2011 802 1 $765.00
Jul 2011 413 1 $600.00
May 2011 803 1 $600.00
Contact

 

Bob Budd – Harcourts City Residential

Ph: 03 9664 8100

Mob: 0411 456 770

E: bob.budd@harcourts.com.au

Web: www.cityresidential.harcourts.com.au

 

MHC_0598_Facebook

 

 

**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.

CONGRATULATIONS MELBOURNE!!!!!!

 

Just voted the 2nd most liveable city in the world………

And why wouldn’t we be with our beautiful parks, amazing food, wonderful people, great events, Theatre & Arts, unique inner city laneways and so much more…….

Praise should go to Vancouver for taking out the number one spot for the fifth year consecutive year.

http://www.heraldsun.com.au/news/victoria/melbourne-almost-best-in-the-world/story-e6frf7kx-1226009073384

http://www.smh.com.au/travel/travel-news/melbourne-beats-sydney-in-worlds-most-liveable-city-rankings-20110221-1b29d.html

The TOP 10

1. Vancouver, Canada

2. Melbourne, Australia

3. Vienna, Austria

4. Toronto, Canada

5. Calgary, Canada

6. Helsinki, Finland

7. Sydney, Australia

8. (equal) Perth, Australia

8. (equal) Adelaide, Australia

10. Auckland, New Zealand

 

The bottom 10 cities were:

1. Harare, Zimbabwe

2. Dhaka , Bangladesh

3. Port Moresby, Papua New Guinea

4. Lagos, Nigeria

5. Algiers , Algeria

6. Karachi, Pakistan

7. Douala, Cameroon

8. Tehran, Iran

9. Dakar, Senegal

10. Colombo, Sri Lanka

For some of favourite Melbourne photos, please click here:  http://harcourtscityresidential.wordpress.com/photos/

The Future of the Past

Some might say “You cant stand in the way of progress” but The National Trust might remind you that progress for progresses sake lead to the Urban Renewal that started in the 50’s that robbed Melbourne of some it’s most charming landmarks including the Federal Hotel and Coffee Palace and Melbourne Fish Markets amongst many others.

It is with this end in mind that on Friday The National Trust escalated VCATs ruling against their challenge to the Windsor Hotel redevelopment project to the Supreme Court for review.

I have canvassed countless property owners in the ‘Paris End’ of town over the past few months for their opinions and heard many varied and often colourful viewpoints on the topic of redevelopment here and in fact through out our bustling city. One thing is for certain, the eyes of many will be on the decisions made over the coming weeks and months and I look forward to keeping you up to date.

On a parting note, as I look out the rear window of our office in the three story heritage listed Professional Chambers  I can see the 262m high landmark that has now become known as 120 Collins St looming over me and am reminded starkly of what the Future of the Past may well be.

Related Reading

http://tinyurl.com/2clfwpy The Age  ” Hotel brawl in Supreme court” June 30th 2010

http://tinyurl.com/2bl4wv7 The Age  “Tower plans cast shadow over Collins Street’s ‘Paris end'”  May 30th 2010

http://tinyurl.com/38az9p3 Walking Melbourne’s Poll ” Melbourne’s Most regrettable loss”

http://tinyurl.com/2e3wqgf “Professional Chambers” Harcourts City Residential home

http://tinyurl.com/2bdaycr “120 Collins St”


James Edmundson

Sales Consultant – Harcourts City Residential

Ph: 03 9664 8100          Mob: 0411 456 770

E: James.Edmundson@harcourts.com.au

Web: www.cityresidential.harcourts.com.au

27 Flinders Lane, Sackville House, Melbourne

2008-2009 Financial Year Report

27 Flinders Lane, Sackville House, Melbourne

Harcourts City Residential

In this report, James Edmundson has prepared an overview of all sales & rental transactions* for Sackville house for the 2008/2009 financial year along with extra details about the complex & a forecast for the year ahead.

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

Melbourne Apartment Overview FY 08-09:

Apartment Sales in Melbourne:         1753

Clearance Rate in Melbourne: 79%
Average Sale Price in Melbourne:
$503,347

SALES RESULTS –  Financial Year 08-09:*

No Sales were recorded in the 2008-2009 Financial year

RENTAL RESULTS – Financial Year 08-09:*

1 bed      1 bath      $420/w       SEP 08

No other rental results reported

Facilities: Security entrance, Lift, Some units with secure parking.

Demographics: Tucked away in Flinders Lane, Sackville house caters to an almost exclusively Owner occupied clientele. The property is well suited to people looking to live or work in the city but prefer to be off the busy streets. A number of the units are dual occupied with owners wishing to use the unit as a second home.

Near-by Construction Underway: 260 million dollar plans to restore and extend the Historic Windsor Hotel have drawn mixed reactions, with some questioning the impact the 25 storey extension located at the rear of the property would have on the heritage feel of the Paris end of Melbourne. With construction slated to commence late 2010 it is sure to remain a discussion point.

www.thewindsor.com.au

(Artist impression)

27 Flinders Lane Forecast for the 09-10 Financial Year: Whilst early stagnation in 2009 caused by the GFC saw a reduction in clearance rates, confidence is returning to the high end market.

We envisage that continuing first home owner interest and buying power will keep the market buoyant in Melbourne for the remainder of 2009. 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 could well make a comeback in 2010 once first home owners lose their puff and buying power.

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

James Edmundson

Sales Consultant – Harcourts City Residential

Ph: 03 9664 8100          Mob: 0411 456 770

E: James.Edmundson@harcourts.com.au

Web: www.cityresidential.harcourts.com.au

Disclaimer: *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



73 Flinders Lane, Sargood House, Melbourne

2008-2009 Financial Year Report

73 Flinders Lane, Sargood House, Melbourne

Harcourts City Residential

In this report, James Edmundson has prepared an overview of all sales & rental transactions* for Sargood house for the 2008/2009 financial year along with extra details about the building & a forecast for the year ahead.You can find this and more Real Estate blogs at http://harcourtscityresidential.wordpress.com/

Architects: Sargood House, a sophisticated building which offers chic living with a soft industrial edge, was redesigned by Wood Marsh architects in 1996. Designed at the time to take advantage of the emerging trend of house sized apartments this boutique low density development is one of the city’s finest.

http://www.woodmarsh.com.au/projects/

Facilities: security entrance, Lift, secure parking.

Demographics: Tucked away from the busy streets in Flinders Lane, Sargood house caters to an almost exclusively owner occupied clientele. The property is especially well suited to people looking for a city Apartment with the spaciousness of a suburban house.  Rarely offered for sale these much sort after units command a special following of potential purchasers.

Melbourne Apartment Sales Overview FY 08-09:Apartment Sales in Melbourne:         1753

Clearance Rate in Melbourne: 79%
Average Sale Price in Melbourne:
$503,347

SALES RESULTS, SARGOOD HOUSE-  Financial Year 08-09:*

No Sales were recorded in the 2008-2009 Financial year

RENTAL RESULTS – Financial Year 08-09:*

No rentals were reported in the 2008-2009 Financial year

Near-by Construction Underway: 260 million dollar plans to restore and extend the Historic Windsor Hotel have drawn mixed reactions, with some questioning the impact the 25 storey extension located at the rear of the property would have on the heritage feel of the Paris end of Melbourne. With construction slated to commence late 2010 it is sure to remain a discussion point.

www.thewindsor.com.au

(Artist impression)

73 Flinders Lane Forecast for the 09-10 Financial Year: Whilst early stagnation in 2009 caused by the GFC saw a reduction in clearance rates, confidence is returning to the high end market highlighted by some very prominent high end sales at the end of 2009.

Interest rates are expected to continue to rise through 2010 as the reserve bank reacts to the strengthening of the economy which will have an effect on some buyers budgets.

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

James Edmundson

Sales Consultant – Harcourts City Residential

Ph: 03 9664 8100          Mob: 0411 456 770

E: James.Edmundson@harcourts.com.au

Web: www.cityresidential.harcourts.com.au

Disclaimer: *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

2 Exhibition St & 60 Flinders St “The Herald Sun Building”

2008-2009 Financial Year Report

 

“The Herald Sun Building”

2 Exhibition St  & 60 Flinders St
 

 

In this report, James Edmundson has prepared an overview of all sales & rental transactions* for The Herald Sun Building, 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/

 

The Herald Sun Building” FY 08-09

Top Reported Sale:                 $1,550,000

Bottom Reported Sale:           $430,000

Number of Auctions: 2

Auction Clearance Rate: 100%

Number of Private Sales: 4

 

Melbourne Apartment Overview FY 08-09:

Apartment Sales in Melbourne:         1753

Clearance Rate in Melbourne: 79%
Average Sale Price in Melbourne:
$503,347

 

 

 

SALES RESULTS –  Financial Year 08-09:*

OCT 08 5th floor 2 Bedroom               2 Bathroom         2 Carspace             Undisclosed

DEC 08 3rd floor 1 Bedroom               1 Bathroom         1 Carspace $430,000

FEB 09 2nd floor 2 Bedroom               2.5  Bathroom     2 Carspace $1,299,000

FEB 09 4th floor  2 Bedroom                                                         $1,100,000

MAR 09 2nd floor 1 Bedroom              1 Bathroom         1 Carspace $455,000

JUN 09 5th floor  2 Bedroom              2.5 Bathroom      3 Carspace $1,550,000

 

RENTAL RESULTS – Financial Year 08-09:*

No new rentals were reported for the financial year 08-09

Introduction: The Herald and Weekly Times Building, or Herald Sun building as it is now known, was built in stages from 1921-1928 with the iconic radio towers added 2 years after completion to accommodate the radio station 3DB which broadcast from the building. It has played host to some of Victoria’s oldest and most recognized periodical and circulars including the Sun, the Herald, Sporting Globe and Home Beautiful .

Designed by architects HW & FB Tompkins and built in the interwar period, The Herald Sun Building remains one of Melbourne’s best examples of Beaux Arts architecture.  Originally an office block this heritage listed building has been thoroughly refurbished to showcase 61 unique residential apartments, designed for those seeking an elegant inner-city home.

Architects: HW & FB Tompkins Designers of the Myer Department Store, The Canterbury flats of St Kilda and many historic Melbourne icons.

 

Facilities: Video intercom, security entrance and off street parking.

Demographics: An exclusive block, The Herald Sun building is a majority owner occupied complex. The property is especially well suited for dual occupiers wishing to use the unit as a second home, it is also of interest to people looking to live and work from the city especially young professionals.

Near-by Construction Underway: 260 million dollar plans to restore and extend the Historic Windsor Hotel have drawn mixed reactions, with some questioning the impact the 25 storey extension located at the rear of the property would have on the heritage feel of the Paris end of Melbourne. With construction slated to commence late 2010 it is sure to remain a discussion point.

www.thewindsor.com.au

(Artist impression)

2 Exhibition St Forecast for the 09-10 Financial Year: With a good mix of affordable entry level apartments and higher end units The Herald Sun Building remains a much sought after location. 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 for the remainder of 2009 and early 2010.

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

James Edmundson

Sales Consultant – Harcourts City Residential

Ph: 03 9664 8100          Mob: 0411 456 770

E: James.Edmundson@harcourts.com.au

Web: www.cityresidential.harcourts.com.au

Disclaimer: *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

99 Spring St, Melbourne

2008-2009 Financial Year Report

 

99 Spring St, Melbourne

 

Harcourts City Residential

 

In this report, James Edmundson has prepared an overview of all sales & rental transactions* for 99 Spring St for the 2008/2009 financial year along with extra details about the complex & a forecast for the year ahead.

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

 

99 Spring St, Melbourne FY 08-09

Top Reported Sale: $1,430,000

Bottom Reported Sale: $1,090,000

Number of Auctions: 2

Auction Clearance Rate: 100%

Number of Private Sales: 1

Melbourne Apartment Overview FY 08-09:

Apartment Sales in Melbourne:         1753

Clearance Rate in Melbourne: 79%
Average Sale Price in Melbourne:
$503,347

 

 

SALES RESULTS –  Financial Year 08-09:*

Jun 09 1           8th floor    99 Spring St                         2 Beds        2.5 Bath     $1,090,000

Aug 08             18th floor 99 Spring St                           2 Beds       2.5 Bath     $1,330,000

Jul 08              16th floor 99 Spring St                          2 Beds        2.5 Bath     $1,430,000

 

RENTAL RESULTS – Financial Year 08-09:*

 

1 Rental advertised at $995p/w unfurnished $1200 p/w furnished including a single car space.

No other rental results reported

Facilities: security entrance, pool, exercise room, and secure parking.

Demographics: 99 Spring street caters to an almost exclusively Owner occupied clientele. The property is of interest to people looking to live and work in the city especially young professionals as well as dual occupiers wishing to use the unit as a second home.

 

Near-by Construction Underway: 260 million dollar plans to restore and extend the Historic Windsor Hotel have drawn mixed reactions, with some questioning the impact the 25 storey extension located at the rear of the property would have on the heritage feel of the Paris end of Melbourne. With construction slated to commence late 2010 it is sure to remain a discussion point.

www.thewindsor.com.au

(Artist impression)

99 Spring St Forecast for the 09-10 Financial Year: Whilst early stagnation in 2009 caused by the GFC saw a reduction in clearance rates, confidence is returning to the high end market.

Driven largely by demand 2010 may well hold the first sale over the building record $2 Million for a single apartment with the best time of year being the Australian summer which often draws attention from international buyers.

City Forecast for the 09-10 Financial Year: We envisage that continuing first home owner interest and buying power will keep the market buoyant in Melbourne for the remainder of 2009. 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 could well make a comeback in 2010 once first home owners lose their puff and buying power.

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

James Edmundson

Sales Consultant – Harcourts City Residential

Ph: 03 9664 8100          Mob: 0411 456 770

E: James.Edmundson@harcourts.com.au

Web: www.cityresidential.harcourts.com.au

 

Disclaimer: *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

1 Exhibition St, Melbourne

2008-2009 Financial Year Report

 

1 Exhibition St, Melbourne

 

Harcourts City Residential

 

In this report, James Edmundson has prepared an overview of all sales & rental transactions* for 1 Exhibition 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/

 

1 Exhibition St, Melbourne FY 08-09

Top Reported Sale: 0

Bottom Reported Sale: 0

Number of Auctions: 0

Auction Clearance Rate: NA

Number of Private Sales: 0

 

 

Melbourne Apartment Overview FY 08-09:

Apartment Sales in Melbourne:         1753

Clearance Rate in Melbourne: 79%
Average Sale Price in Melbourne:
$503,347

 

 

SALES RESULTS –  Financial Year 08-09:*

No sales were reported for the financial year 08-09

 

RENTAL RESULTS – Financial Year 08-09:*

 

Sep 09                            1 bed           1 bath          Renovated and furnished         $450

Dec 08                            1 bed           1 bath          Original condition                    $300

Sep 08                            1 bed           1 bath          Original and furnished           $350

Facilities: Security entrance and Lift.

Demographics: An exclusive block of just 24 units 1 Exhibition Street is a majority owner occupied building. The property is especially well suited for dual occupiers wishing to use the unit as a second home, it is also of interest to people looking to live and work from the city especially young professionals with many of the rentals being offered fully furnished.

 

Near-by Construction Underway: 260 million dollar plans to restore and extend the Historic Windsor Hotel have drawn mixed reactions, with some questioning the impact the 25 storey extension located at the rear of the property would have on the heritage feel of the Paris end of Melbourne. With construction slated to commence late 2010 it is sure to remain a discussion point.

www.thewindsor.com.au

(Artist impression)

 

 

 

 

 

1 Exhibition 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 for the remainder of 2009.

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 may well make a comeback in 2010 once first home owners lose their puff and buying power.

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

James Edmundson

Sales Consultant – Harcourts City Residential

Ph: 03 9664 8100          Mob: 0411 456 770

E: James.Edmundson@harcourts.com.au

Web: www.cityresidential.harcourts.com.au

 

Disclaimer: Disclaimer: *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

 

Park Tower – 201 Spring St, Melbourne

2008-2009 Financial Year Report for 201 Spring St, Melbourne

Harcourts City Residential

 

Common-Buyer-Profiles10

Common Buyer Profiles

First-Home-Owners-Grant5

First Home Owners Information

Foreign-Investment-Review-Board6

Foreign Investment Review Board

Stamp-Duty-Calculator5

Stamp Duty Calculator

Whats-my-property-worth5

What’s my property worth?

INTRODUCTION

Agent Comment:

“Whilst early stagnation in 2009 caused by the GFC saw a reduction in clearance rates, the stimulus package saw the sub $600K market flourish and now confidence is returning to the high end market.

Given the good mix of units in the building there is likely to be continuing interest from first home buyers hoping to secure an entry level apartment in the city through to established buyers and investors looking to expand their portfolios.”

‘Park Tower’ Sales Statistics
 

Next Year Report: Financial Report 2010

BUILDING DETAILS & PARTICULARS

Building Facilities:

Yes: Function Room, Caretaker and Underground Secure Parking
Building Name: Park Tower

Year Built:

Late 1960’s

Owners Corporation:

Ken Stout:
Phone: 9662 23266
Email: 6093359@bigpond.net.au
Building Manager: Ian Green:
Phone: 9662 2326
No of Apartments: 113 apartments over 18 Levels
Council: City of Melbourne
Zoning: Capital City Zone Schedule 2 http://tinyurl.com/23clumr
REPORTED SALES – Financial Year 2009 – 2010 BED BATH Offstreet Price Date
7th Floor 1 1 0 372,000 12/2008
1st Floor 1 1 0 250,000 01/2009
7th Floor 1 1 0 260,000 02/2009
7th Floor 2 1 1 560,500 04/2009
17th Floor (Penthouse) 3 2 2 Undisclosed 06/2009
REPORTED RENTALS – Financial Year 2009 – 2010 BED BATH Offstreet Rent (pw) Date
13th Floor 1 1 0 420 08/2008
8th Floor 1 1 1 380 08/2008
2nd Floor 1 1 0 400 07/2008

 

Demographics: 201 Spring street caters to a mix of owner occupied clientele, with very affordab le entry level properties all the way to high end renovated penthouses. The property is of particular interest to people looking to live and work from the city especially young professionals as well as dual occupiers wishing to use the unit as a second home.

Near-by Construction Underway: 260 million dollar plans to restore and extend the Historic Windsor Hotel have drawn mixed reactions, with some questioning the impact the 25 storey extension located at the rear of the property would have on the heritage feel of the Paris end of Melbourne. With construction slated to commence late 2010 it is sure to remain a discussion point.

201 Spring St Forecast for the 09-10 Financial Year: Whilst early stagnation in 2009 caused by the GFC saw a reduction in clearance rates, the stimulus package saw the sub $600K market flourish and now confidence is returning to the high end market.

Given the good mix of units in the building there is likely to be continuing interest from first home buyers hoping to secure an entry level apartment in the city through to established buyers and investors looking to expand their portfolios.

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

James Edmundson

Sales Consultant – Harcourts City Residential

Ph: 03 9664 8100          Mob: 0411 456 770

E: James.Edmundson@harcourts.com.au

Web: www.cityresidential.harcourts.com.au

 

Disclaimer: *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