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Posts Tagged ‘apartments’

Sydney’s most expensive apartments 2011

Posted by Mark Mendel in Sydney Property News on 01 29th, 2012

Last week Domain wrote an article about the most expensive apartments in Sydney in 2011… Wow! Below is a list of the top 20 apartments sold.

Rank $m Address
1 $12.7 College St, city
2 $12.5 Liverpool St, city
3 $11.6 Buckhurst Ave, Point Piper
4 $10.8 Buckhurst Ave, Point Piper
5 $10 Buckhurst Ave, Point Piper
6 $10 Buckhurst Ave, Point Piper
7 $9.85 Phillip St, city
8 $9.7 Onslow Ave, Elizabeth Bay
9 $8.85 Rockwall Cr, Potts Point
10 $8.5 Sutherland Cr, Darling Point
11 $7.3 Bennett Ave, Darling Point
12 $7.25 Campbell Pde, Bondi Beach
13 $6.7 Milson Rd, Cremorne Point
14 $6.17 Macleay St, Potts Point
15 $5.52 Liverpool St, city
16 $5.5 Grantham St, Potts Point
17 $5.5 Grantham St, Potts Point
18 $5.07 Macquarie St, city
19 $5 Moruben Rd, Mosman
20 $5 Beresford Rd, Rose Bay

Besides this list there are probably a few more apartments that were on the market and didn’t sell and reportedly one apartment that has been sold off the plan in the Sydney CBD overlooking Hyde Park for $25million!

So after reading the article, what caught my eye more than anything was the acclaimed strata fees for the second most expensive apartment on the list being located in Stockland’s The Hyde. The cost of the unit was recorded at $12.5m but what is more amazing is the strata fees which are claimed to be $142,000 a year!!! Are you serious! This seems to be an absurd amount of money and can only wonder what this fee covers… What is important to know for investors though is that you want to look for developments with low strata fees. Anything up to about $3,000 per year is fine depending on the development and price you are paying for the apartment. Don’t let it deter you if it’s more, simply run the numbers and in some cases there may be good reason why your strata fees are higher and in return for high strata fees you may get facilities which tenants really want and are prepared to pay a higher rent to have! Also make sure you budget for strata fees to increase over time as they always do. Also remember as an investor, strata fees are an expense which you can claim and thus become tax deductible.

See the Domain article here.

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New Apartments Turramurra and Suburb Profile

Posted by Mark Mendel in Sydney Suburb Profiles on 11 17th, 2011

Turramurra is a suburb on the Upper North Shore of Sydney, in the state of New South Wales and is located 20 kilometres north of the Sydney CBD, in the local government area of Ku-ring-gai Council. Turramurra is a large suburb extending from Lane Cove National Park in the south to Ku-ring-gai Chase National Park in the north.

As a leafy, attractive and quiet suburb, it is particularly appealing to newly married couples who want to start families and this proliferation of young families has seen the establishment of local primary and high schools. With few new apartment blocks approved to be built in the area and only a small village centre, the suburb has retained much of its heritage charm. Yet more recently, the council have revealed plans to redevelop the area surrounding the railway station to incorporate a commercial centre and include higher density new apartment housing developments.  These new apartments in Turramurra are in high demand from people that wish to live in the highly desirable suburb but don’t wish to live in the large homes which currently dominate the Turramurra landscape.

New apartments in Turramurra have recently been sought after by young professional couples that are looking to live in more suburban areas than inner city Sydney while still providing easy transport routes across Sydney. Turramurra ticks these boxes with a train station on the Northern line as well as the Pacific Highway running through the suburb connecting residents with the F3 Freeway along with Chatswood and North Sydney. There is also a private bus service run by Shorelink.

With demand for new apartments in Turramurra, there has been talk of redeveloping the area around the Train Station into a new Town Centre or Civic Place. The key Site will be Ray street.

In the future this Key Site will become a community focal point, centred on a large new town square. A number of community facilities are to be located in this area within new premises. A new Turramurra library will also be provided fronting the proposed public space. This area will also become a major shopping destination with a new larger supermarket and associated specialty shops. To service these uses a new road bridge will be constructed over the rail line at the end of Ray Street connecting with Rohini Street. The bridge will provide a second access point for both vehicles and pedestrians.

Forbes Lane will be widened (through development setbacks) to create a new two-way street with on-street parking, a taxi stand and a kiss-and-ride area for the train station.

Shop-top housing will be provided on the retail podium providing further support for the retail and community uses. Council’s parking will be relocated to new basement parking upon redevelopment.

If you are thinking about buying a new apartment in Turramurra, then see the available new apartments on Find Investment Property.

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New Westmead Apartments and Suburb Profile

Posted by Mark Mendel in Sydney Suburb Profiles on 11 10th, 2011

Westmead is a suburb of Sydney and is located 26 kilometres west of the Sydney CBD in the local government area of the City of Parramatta and is part of the Greater Western Sydney region. The Postcode for Westmead is 2145. It is only 2km from the Parramatta CBD.

Westmead is a growing suburb that is known mostly for the Westmead Hospital that sits within its suburb borders. Health is the major employer in the area, with a large public hospital, a large public children’s hospital, a mental health hospital, a private hospital and three medical research facilities spanning basic, genetic, and molecular science for both adults and children.

There is also a train station at Westmead.

Due to the demand in the area, a number of new apartments in Westmead have been built or are planned to be built to cope with the increasing need for housing. Many of the older style homes in the area are been demolished to make way for new apartments.

Between 2001 and 2006 there was a population increase in the area of 26% which was well above the Sydney Average. This is due to not only the demand for people wanting to live in the area but also the number of new apartments in Westmead being built during this time.

In general, people in Westmead work in a professional occupation.

If you are thinking about buying an investment property in Westmead such as a new Westmead apartment off the plan, then you should look at what listings are available on Find Investment Property.

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Artarmon Apartments and Suburb Profile

Posted by Mark Mendel in Sydney Suburb Profiles on 07 4th, 2011

Artarmon is a suburb on Sydney’s beautiful lower north shore and the postcode is 2064. This is very conveniently located only 9kms from the Sydney CBD and the local government area is Willoughby. Artarmon is also very close to Chatswood, which is becoming a very dense CBD hub.

About 50% of those who live in Artarmon are owner occupiers with the majority being couples. The predominant age group is 30 – 39 and there is a good mix of older style homes and apartments. As the lower north shore becomes more of an area where many are choosing to live and downsize to  new apartments are becoming increasingly popular.

Artarmon has a mix of residential, commercial, retail and industrial and it’s this mix that makes it a truly unique suburb. Many people relocating to Artarmon are choosing new apartments because of the convenience that they represent. Many of the new apartment developments in Artarmon are walking distance to the train station and shops. Chatswood is 5 minutes on the train and offers everything one could wish for. The city is only 15 minutes on the train. It is no wonder this area has high demand given its proximity to the CBD and Chatswood and this is just one of the reasons that rental returns are strong and vacancy is low.

Even thought Artarmon is in a perfectly located area, it is a very quiet suburb and has a very relaxing feel to it. This is perfect for those who love the fast paced lifestyle that Sydney boasts but also like to have the opportunity to relax in the comfort of their own home (or new apartment!)

Artarmon offers more boutique style developments which keeps with the theme of the area. This is perfect for all and the new apartments offer dynamic floor plans and outdoor living. This suburb offers very stable growth and yield and is perfect for first home buyers, those wanting to downsize and of course investors as the tenant pool is so large for new apartments in Artarmon.

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Merrylands Apartments and Suburb Profile

Posted by Mark Mendel in Sydney Suburb Profiles on 06 22nd, 2011

Merrylands is a suburb in Western Sydney and has the postcode 2160. It is 25km west of the Sydney CBD and only 3 kms from the Parramatta CBD. Its local government area is the City of Holroyd of Parramatta.

About 39% of people in Merrylands rent where they live and the rest mainly own their home.

Merrylands is home to couples with children as well as couples without children. There is also a big portion of single people and the predominant age group is between 20 – 29. As the population grows in Merrylands, new apartments are becoming increasingly popular for both singles and familes. The new apartments in the area are generally very well located- close to the Merrylands train station, local bus stops and the Merrylands shopping centre which is owned and managed by Stockland (which is in the process of going through a $400million redevelopment which is estimated to be completed by the end of 2012).

Merrylands is going through what is called ‘urban gentrification’ which means that through redevelopment of thr MErrylnds suburb, more wealth is coming in which is creating good capital growth and demand for upmarket new apartments and homes.

There is a great selection of schools and child care centres in Merrylands as well as many parks in the area.

As more people like to be on the fringe of a CBD, for example, the Parramatta CBD, there has been a huge demand for higher density housing such as new apartments (both boutique and high rise) to accommodate these lifestyle changes. As property gets more and more expensive, so apartments become more and more attractive.

There has been a very high demand for new apartments in Merrylands as well as new townhouses. For investors and home buyers alike, this presents some great opportunities to buy something off the plan and secure your price in market where prices keep going up.

The rental returns are very high in Merrylands because of its location and amenities. It takes only 10 minutes by train to Parramatta and 45 minutes by train to Sydney CBD. It is also well located within the main arterial roads of Sydney – the M4 and the Great Western Highway. Because of its location and other factors, there has already been significant capital growth in the last few years and this is certainly expected to continue as development of new apartments and townhouses continues in Merrylands.

With the continued improvements in the area, Merrylands is a fantastic suburb to live in and invest. It gives property investors the opportunity to secure new apartments in Merrylands or a new townhouse in Merrylands at pricing which represents good value with potential for even more strong capital growth.

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St Marys Apartments and Suburb Profile

Posted by Mark Mendel in Sydney Suburb Profiles on 05 26th, 2011

St Marys is a suburb in Western Sydney. The Postcode of St Marys is 2760 and it has a population of around 10,000. It is located in the local government area of Penrith. St Marys is located 45km from the Sydney CBD.

Over 60% of people own their property in St Marys while the others rent. The majority of homes in the area are house and townhouses, however as the suburb becomes more developed and more people relocate to the area, apartments in St Marys are becoming the new way of living. Many of the new apartments in St Marys are close to buses and the St Marys Train station along with the shopping village which includes major banks such as St George and Common Wealth Bank as well as a Cole’s shopping centre and other stores such as pharmacies, newsagents, butchers, travel agents and local shopping outlets with all the requirements a local resident may need.

St Marys is home to many families and as such there is a good selection of schools in the area. These schools include:

  • St Mary’s Primary School
  • South St Marys Public School
  • Kurambee School (Special Ed.)
  • Our Lady Of The Rosary Primary School
  • St Marys Senior High School

As more people are moving to St Marys, higher density of property such as apartments is being built to accommodate not only the population but also create new affordable homes as the prices in St Marys start to increase with good capital growth in recent times.

The market today has strong demand for new apartments in St Marys as well as new townhouses and thus this presents home buyers with an opportunity to buy a strong market but also property investors are reaping the benefits of increased rental yields. Buying a new apartment in St Marys means you not only can achieve a high rental return on your investment but good capital growth down the track too. The number of renters in St Marys is increasing and thus will provide even greater capital growth as more investors will focus their attention on this up and coming suburb in outer Sydney were 2 and 3 bedroom apartments are still very affordable.

The transport options in St Marys make it very attractive to live or rent in the area. The major arterial roads that cross through the suburb or nearby include the M4, M7 and the Great Western Highway. There is also a private bus service run by West Bus and the St Marys train station which takes you direct to the centre of the Sydney CBD in 50 minutes.

St Marys is definitely an up and coming suburb in Sydney that offers affordable housing for the home buyer and good opportunities for the first time property investor at a good entry point into the market. This coupled with good rental returns and solid capital growth should see new apartments in St Marys deliver a good return on investment. To find out about new off the plan apartments in St Marys visit the Find Investment Property website.

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Rhodes Research and Apartments for Sale in Rhodes NSW

Posted by Mark Mendel in Sydney New Apartments on 03 29th, 2011

Rhodes is an inner-west suburb of Sydney located on the banks of the Parramatta River. Rhodes is located about 17km from the Sydney CBD and has direct access to the city via train from the Rhodes Train Station. Rhodes is a relatively new suburb with significant residential and commercial construction occurring over the last decade. Rhodes is also only 3km away from the home of the Sydney Olympics being Sydney Olympic Park. This is great for those that are interested in all the amenities the area has to offer.

Living in Rhodes is great for those that like to be near the water. There a walking paths and bike tracks that run along the waterfront as well as parklands on the water’s edge.

The suburb of Rhodes has a major shopping centre simply known as Rhodes Shopping Centre. It is a very large centre that accommodates the thousands of people not only living in Rhodes but also nearby in areas like Wentworth Point. The centre opened its doors in late 2004 before being purchased by Mirvac in 2007. The shopping centre is only a short walk from the train station and conveniently located for many residents of Rhodes to simply be able to walk to the centre. Some of the major tenants within the Rhodes shopping centre include: Ikea, Coles, Reading Cinemas, Flight Centre, Dick Smith, Bing Lee, Telstra, Target and Harris Farm along with a large food court and many more specialty shops.

Within Rhodes is also a major business park which sits just behind the Rhodes Shopping Centre. This business park is home to some of Australia’s largest companies including National Australia Bank, Australand, Hewlett Packard, Alcatel Lucent, Lion Nathan, Unisys and Nestle.

Apartments for Sale in Rhodes – Sanctum

Sanctum is a low rise apartment development located on the foreshore of Rhodes. Apartments are for sale in this Rhodes development and start from $480,000 for a 1 bedroom apartment. 2 bedroom apartment start at $620,000 while the 3 bedrooms start at $1,300,000. The Sanctum apartments are being developed by Crown who have created a name for themselves in producing resort style living and accommodation. Sanctum by Crown is inspired by the exotic resorts of the world and epitomizes all that is Sydney luxury waterfront living. This 5 star resort style development located on the shores of Homebush Bay on the Rhodes peninsular, combines elegant, luxury living with style and functionality.

Sanctum is made up of two buildings and are positioned to maximise the water views and to capture the sun and light. Its extensive landscaping combined with tranquil reflection pools provides a sanctuary from the hustle and stress of everyday city life.

Apartments for Sale in Rhodes – The Phoenix

The Phoenix has bphoenix blogeen inspired by the mythical bird of the same name that soared to great heights and represented a new fresh beginning. The Phoenix is located in Rhodes and is made up of 201 apartments. Towering eighteen storeys over the waterside area of Rhodes, stands The Phoenix, a high rise apartment building with a modern vision of design excellence. Strategically located to take advantage of the sweeping views over the local waterways and adjoining parklands, The Phoenix represents an inviting and prestigious investment in a developing and attractive district. Well designed with floor to ceiling glass windows, these units will be a sure hit with both owner occupiers and investors.

1 bedroom apartments for sale start at $480,000 while 2 beds start at $619,000. This development is due to be completed in early 2013. Units are well sized with most having fantastic views. Inclusions have not been spared in this high rise modern development, which include Dishwasher, Range Hood, Oven, Cook Top, Clothes Dryer, Built in BBQ on the Balcony, audio/visual security, plush carpets and more. To find out more about these Rhodes apartments for sale, visit our main website.

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Strathfield South Apartments Off the Plan

Posted by Mark Mendel in Sydney New Apartments on 07 14th, 2010

La Villetta is a new off the plan apartment development in the inner west Sydney suburb of Strathfield South. Its location is halfway between the Parramatta CBD and the Sydney CBD and is close to major shopping centres including Burwood Westfield and Strathfield Shopping Plaza.

This is a boutique development that is perfect for first home buyers or property investors looking to buy off the plan today and save 100% on their stamp duty for the majority of apartments available in the development.

There is also transport right outside the door with two bus routes heading into the city via Strathfield.

What’s more for home buyers, there is a good selection of schools in the surrounding areas. This includes primary and secondary, both public and private.

Home buyers looking to purchase a new apartment off the plan in Sydney’s inner west should consider this opportunity.

Within this new apartment development there is one standout unit which hits the wow factor. It is a large penthouse apartment with 4 bedrooms, two living areas and a roof top terrace which is massive!

Strathfield South has performed well over the last 12 months with APM suggesting a 8% increase in unit prices. It surpassed the growth of Strathfield which achieved growth of 6% over the last 12 months. (Source APM 14 July 2010)

To find out more enquire on the La Villetta apartment project.

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NSW Stamp Duty Abolished… for some

Posted by Mark Mendel in Sydney Property News on 06 10th, 2010

Property Investors and Home Buyers have welcomed the move by the NSW State Government to remove the payment of Stamp Duty for those that purchase off the plan before construction begins and discount it when construction has started. This is applicable for all purchasers under $600,000.

Once again it is the lower price market that gets the assistance which will continue to help push prices higher for everyone. It is a good move by the NSW Government and one that many should take advantage of. The intention is for developers to start bringing to market affordable property priced under $600,000. Although developers and now the Government have every intention of helping property buyers, the developments are still being delayed by Councils who are not approving plans and banks who are still reluctant to finance unless the developer is financially very strong with a large number of pre-sales for the particular project. Now with the removal of the NSW Stamp Duty for some properties, hopefully the achievement of these pre-sales will be a little bit easier.

Some have said that although this move by the NSW Government to abolish Stamp Duty on new homes and apartments is a move in the right direction, it is still not enough. These days $600,000 doesn’t buy you much depending on the suburb and location you are looking at and in many cases developers just can’t deliver a quality product due to their land prices being so high.

What about those that are shopping in the $600,000 – $750,000 price bracket. There really should be a phasing out up to $750,000 which is where the upper limit is for first home buyer concessions. If you spend $601,000 then you are required to pay full stamp duty, but at $599,999 then you save yourself circa $22,000. There really does need to be a scaled approach to this effort by the Government.

While we are all waiting for the Government and the OSR to release official information we will just have to sit back and wait to see what the finer details are.

This is a very positive move for NSW and should help stimulate much needed residential development across the state and hopefully with a focus on some of the growth corridors where heavy infrastructure spending is required to deliver community needs including new transport, hospitals and other amenities.

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Cammeray Place

Posted by Mark Mendel in Sydney New Apartments on 06 5th, 2010

Cammeray Place is a new boutique apartment development on Sydney’s Lower North Shore. This would have to be one of the best locations in Sydney. It is only moments from the Sydney CBD, North Sydney, St Leonards and Chatswood. There is shopping facilites, cafes, restuarants and much more in this suburban village which is so close to the so many of Sydney’s major centers.

Cammeray Place

Cammeray Place consists of only 36 new apartments made up of 1, 2 and 3 bedroom apartments. The roof top contains a common area for all residents which includes a Gym, Pool, BBQ area and Japanese roof garden. Most of the units have fantastic district views.

These new apartments are available to purchase off the plan and are perfect for property investors or home buyers. They will be due to complete at the start of 2012.

To find out more about Cammeray Place, you can visit Find Investment Property

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