Full Description

Overview:

Located within 2km of the Melbourne CBD, this unique and upmarket project is new to the market.

A 22 storey building with 5 levels of parking then residential apartments above, all with a secure car space.

The apartments will be predominately one and two bedroom apartments, to target the "young professional" demographic.

Each apartment will offer the occupier a luxury environment with the highest level of technology required by today's professionals. 

Specifications will be of a very high level.  The developer has previously built apartments in some of Melbourne's top suburbs including Toorak, South Yarra, Elwood and St Kilda.  Without exaggeration, the average standard of finish for their previous projects has been equal to and above the Penthouse quality finish of most projects.

Melbourne offers significant stamp duty savings when buying very early in the off plan process. Melbourne is the only Australian capital city where these stamp duty concessions are available.  Early investors save thousands of dollars when they buy off the plan.

Secure an apartment now at today's prices and benefit from the massive stamp duty savings and the growth of the Melbourne market.

These apartments only just released in March 2008, so you have an excellent opportunity to secure a premium apartment today

Location:

Address: South Melbourne, Victoria

South Melbourne is located within 2kms of the Melbourne CBD.

1.9km from Melbourne central business district
150m from St Kilda road trams
200m from Shine of Remembrance
200m from Kings Domain
400m from Royal Botanic Gardens
500m from Westgate Freeway entrance
1.2km from Southbank and Yarra River esplanade
1.3km from Crown Entertainment Complex
1.3km from Flinders Street Station
2.4km from RMIT city campus

Expected Completion:

Completion expected September to Dec 2010.

Prices:

One bedroom one bathroom apartments (ranging in internal size from 50sqm) priced from AUD$384,000

Two bedroom one bathroom apartments (67.5sqm internally) priced from AUD$527,500

Two bedroom two bathroom apartments (ranging in internal size from 77sqm) priced from AUD$625,500

All apartments have balconies and secure car parking.

Projected rents from:

We expect that this project will rent very strongly given its location and the current demographics of the area.  Added to this the vacancy rate in inner city Melbourne of around 1% and we expect they will perform exceptionally well.  Given the current market we would also expect that rents will continue to increase through to late 2010.

Purchase Process:

These apartments can be secured with a cash deposit of 10% of the purchase price with the remaining 90% not due until project completion.

These apartments are available to both resident and non resident investors; non-resident investors can generally obtain funding (subject to normal bank lending criteria etc) for up to 80% of the value of the apartment.