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

Harcourts City Residential

 

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INTRODUCTION

[youtube https://www.youtube.com/******] 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				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				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: 03 9664 8116 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.

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