KENSINGTON is an investor “hot spot”, according to a ranking of 15,000 suburbs nationwide. A survey by Your Investment Property magazine found the small suburbs which border Moonee Valley and Melbourne council areas have all the attributes of money-makers. It was ranked among the top 100 investment areas for properties likely to grow in value. The magazine’s editor, Nila Sweeney, said Kensington’s historically strong performance in the market and excellent amenities made it a good choice. “Buyers can get a good deal now on a property that will achieve great growth in the future by choosing the right location,” Sweeney said. “The suburbs that rated best for investment typically had good comparative affordability with neighbouring areas.” Flemington and Travencore also rated in the top 100 for its proximity to the CBD and amenities. And the numbers seem to back the claim. Unit prices have only just reached the Melbourne-wide median of $474,500. As of the June quarter, the median for Kensington is $485,000, an increase of 9.3 per cent of its March figure ($450,000). According to the REIV, Kensington also recorded a 12.4 per cent increase in its median house price for the June quarter. The median price is now at $766,500, well above the Melbourne-wide median and a big improvement on its previous median of $676,250 for the March quarter. As of last week, real estate website realestate.com.au showed the cheapest one bed, one bathroom apartment or townhouse in Kensington is selling for about $350,000. At the high end of the scale, you can pick up a townhouse overlooking Hollard Park, with CDB views, for a cool $1.1 million. Property, p24-25 [...]
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KENSINGTON is an investor “hot spot”, according to a ranking of 15,000 suburbs nationwide. A survey by Your Investment Property magazine found the small suburbs which border Moonee Valley and Melbourne council areas have all the attributes of money-makers. It was ranked among the top 100 investment areas for properties likely to grow in value. The magazine’s editor, Nila Sweeney, said Kensington’s historically strong performance in the market and excellent amenities made it a good choice. “Buyers can get a good deal now on a property that will achieve great growth in the future by choosing the right location,” Sweeney said. “The suburbs that rated best for investment typically had good comparative affordability with neighbouring areas.” Flemington and Travencore also rated in the top 100 for its proximity to the CBD and amenities. And the numbers seem to back the claim. Unit prices have only just reached the Melbourne-wide median of $474,500. As of the June quarter, the median for Kensington is $485,000, an increase of 9.3 per cent of its March figure ($450,000). According to the REIV, Kensington also recorded a 12.4 per cent increase in its median house price for the June quarter. The median price is now at $766,500, well above the Melbourne-wide median and a big improvement on its previous median of $676,250 for the March quarter. As of last week, real estate website realestate.com.au showed the cheapest one bed, one bathroom apartment or townhouse in Kensington is selling for about $350,000. At the high end of the scale, you can pick up a townhouse overlooking Hollard Park, with CDB views, for a cool $1.1 million. Property, p24-25 [...] A house destroyed by fire on Black Saturday has risen from the ashes to claim a record nine awards, including Building Design of the Year 2011, at the Building Designers Association of Victoria annual awards. The home in Callignee, 175km east of Melbourne, was razed one week after owner Chris Clarke, a commercial builder, moved in. > > GALLERY: See inside the home In an inspirational partnership, building designer Sean Hamilton, of Hamilton Design , collaborated with Mr Clarke to re-imagine the home. Arresting in its beauty, Callignee II – Regeneration embraces the ruins of its predecessor as a feature of the landscape. Mr Hamilton said the house was unlike any project he had attempted. “We had to work with the charcoal, the burned and buckled steel, and the blackened (building) fabric that was left,” he said. “Anything new we brought into the home had to complement that. “It wouldn’t have been possible without the skills and courage of Chris Clarke.” Resisting pressure to demolish the shell, the pair edited the original floorplan to keep within Mr Clarke’s limited insurance budget. The striking design blends concrete, steel, expanses of glass and timber reclaimed from the Princes Pier. With no services connected, Callignee II’s sustainability focus is as much about necessity as treading lightly on the environment. “We had to make the home totally self-sufficient,” Mr Hamilton said. Rainwater is harvested from the roof, solar panels supply electricity, hydronic heating is powered by a solid fuel heater and waste water is fed back to a biolytic black-water system. “More than that, we recaptured the embodied energy of the old home,” Mr Hamilton said. “It has a real sense of place now within its environment.” BDAV judges described Callignee II as “a testament to the courage of the survivors of a terrible bushfire season”. Judging panel chair Paula Hanley said the robust, contemporary design “is not only completely at ease in its setting, but actually contributes to its natural beauty”. [...]  SYDNEY-based fund manager Charter Hall can expect some $25 million from the sale of a Melbourne CBD office it bought for $32 million in September 2007 – just weeks before the last commercial property market peak. A spokeswoman said the Charter Hall Core Office Fund will use moneys from the sale to invest in larger, prime opportunities. The asset on offer at 150 Queen Street (pictured, right), on the corner of Bourke Street, was developed in the 1960s and known for years as the Prudential Building. [...] SYDNEY-based fund manager Charter Hall can expect some $25 million from the sale of a Melbourne CBD office it bought for $32 million in September 2007 – just weeks before the last commercial property market peak. A spokeswoman said the Charter Hall Core Office Fund will use moneys from the sale to invest in larger, prime opportunities. The asset on offer at 150 Queen Street (pictured, right), on the corner of Bourke Street, was developed in the 1960s and known for years as the Prudential Building. [...]  BOUTIQUE builder Fridcorp has redesigned and rebranded the controversial $120 million South Yarra apartment proposal that it bought into a couple of months ago. The site, on the south-west corner of Chapel Street and Alexandra Avenue and opposite the Yarra River, has for some 18 months been marketed as Tresor – a 14-level tower which would have included 99 luxury apartments (artist impression, right). Network Nine executive director Jeff Browne was one of Tresor’s highest profile buyers, paying a reported $5 million for a four-bedroom unit, off-the-plan. [...]  ANOTHER religious based group is disposing a prime located suburban asset, which is likely to be redeveloped as flats. This time, in Northcote, Churches of Christ Community Care is selling the former Fred Combridge House aged facility at 1A Campbell Grove, and high on Ruckers Hill (aerial image, right). The former 30-bed facility is spread across a 2712 square metre site, and, according to Fitzroys selling agents Charles Emmett and Geoff Emmett, is expected to arouse developer interest and sell for between $5 million – $5.5 million, reflecting a rate per square metre of land, of approximately $1850 – $2000. [...]  A SUPERSIZED North Melbourne development site, opposite two small parks and capable of accommodating a landmark skyscraper, has hit the market and is expected to sell for about $8 million. The 3555 square metre property at 181 – 189 Capel Street (aerial image, right) currently includes a large warehouse constructed in the 1960s and which is tenanted by AAMI as an insurance assessment centre. An adjoining small warehouse is occupied by another tenant. Combined the assets return $528,634 in annual rent but AAMI will vacate soon. [...] |
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