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THE PROPERTY REVIEW<br />

Winter/<strong>Spring</strong> Quarter <strong>2013</strong><br />

www.towerlondon.com<br />

1


Enquiries regarding this magazine should be made to:<br />

Tower & London<br />

38 Alfred Street, Milsons Point NSW 2061<br />

Phone: (61) 2 9956 6500 Fax (61) 2 9956 6522<br />

Email: reception@towerlondon.com<br />

Disclaimer:<br />

The information contained in this publication is for general information purposes only. Readers are advised that while an earnest effort has been taken to<br />

ensure the information in this document was obtained from reliable sources, Tower & London gives no guarantees or warranties, written or implied, over<br />

the accuracy of the information provided. Tower & London Pty Limited disclaims all responsibility for any loss or damage suffered as a result of the use of the<br />

contents of this publication. The views expressed in this publication are those of the writers and do not necessarily reflect the views of the publisher.<br />

Photography kindly supplied by Lionel Tregret. Magazine designed by Simone Holloway. (for contact details please contact Tower & London)<br />

2


Winter/<strong>Spring</strong> Quarter <strong>2013</strong><br />

Message From John Tower<br />

4-6<br />

The Cyclical Nature Of The<br />

Property Market<br />

Landlord Protection Insurance 7<br />

Residential Sales 8-17<br />

Residential Leasing 18-21<br />

Landlords need to find good<br />

22-23<br />

commercial tenants<br />

to compliment their investment<br />

property and<br />

provide reliable returns on their<br />

investment<br />

Commercial Sales 23-25<br />

Commercial Leasing 26-27<br />

Our Offices 28<br />

THE PROPERTY REVIEW<br />

A quarterly magazine<br />

published by<br />

Tower & London<br />

3


The Cyclical Nature Of The Property Market<br />

Along with other forms of investment; it is widely recognised that property follows a predictable cycle.<br />

The property cycle, if unimpeded, has thee recognised recurring phases of boom, bust, and recovery;<br />

this is a consistent cycle which can be accurately assessed. The property cycle must have a ‘free market’<br />

where ownership is attainable by citizens without significant Government restrictions, or any form of<br />

ownership.<br />

Boom<br />

When the Boom phase<br />

commences, most people<br />

don’t think it will last because<br />

they do not have the context<br />

of understanding the property<br />

cycle. It is not until prices have<br />

increased to a noticeable level<br />

that the number of buyers start to<br />

overcome the number of sellers,<br />

this margin increases rapidly as<br />

prices are pushed higher in the<br />

fierce completion, culminating in<br />

a final and short spike in values<br />

just before a collapse. There are<br />

number of factors that fester the<br />

right environment for a boom,<br />

these factors start well before<br />

the boom and some expire<br />

during the boom. These are the<br />

signs that the astute investors in<br />

property pick up and make their<br />

decisions whether to buy, sell or<br />

hold.<br />

4


Before, or the commencement of the boom:<br />

-Rents rise, usually putting pressure on tenants.<br />

-Vacancy rates reducing.<br />

-Interest rates start to fall, or the economic<br />

environment is such that there is strong likelihood<br />

of falling.<br />

-property is becoming in short supply, not many<br />

new development projects on the horizon.<br />

During the boom:<br />

-Property sells very quickly.<br />

-Property prices are noticeably rising.<br />

-New developments get underway; off-the-plan<br />

selling is back on.<br />

-Finance is easy to obtain.<br />

-Yields fall as property values increase and tenants<br />

start buying.<br />

-Rents stabilise or start to decrease.<br />

-Media hype fuelling the property boom.<br />

-Property seminars competing for investors.<br />

-Everyone is buying property as financial<br />

institutions take advantage of the boom, lending<br />

to the masses and taking rising values of existing<br />

property as equity for new purchases.<br />

Bust<br />

Generally, the longer and the bigger the preceding<br />

boom, the longer and the harder is the subsequent<br />

bust. Although bust period is a lengthy time, it<br />

comes rather suddenly. When the hype of buyers<br />

gets to ridiculous levels: bust is about to happen.<br />

Those that can see the signs, sell quickly, but the<br />

majority are caught, typically those that bought at<br />

the peak of the boom. Bust periods are typically<br />

long and arduous periods and there is usually too<br />

much supply and very little buyers’ apetite. Values<br />

remain stagnant for years after the initial decline,<br />

the decline in values is often repeated, interrupted<br />

by lengthy periods of stagnation.<br />

Just before the bust:<br />

-Property value spike.<br />

-Vacancy rates rise.<br />

-Governments start to look for ways to subdue<br />

buyer enthusiasm.<br />

-Increase in number of mortgage providers and<br />

lending schemes.<br />

During the Bust:<br />

-Increased vacancy rates and decrease<br />

in rental values.<br />

-Interest rates rise due to economic conditions<br />

or as part of subduing the market.<br />

-Property values fall.<br />

-the time to sell property lengthens markedly.<br />

-Increased number of forced sales, (mortgagee<br />

in procession)<br />

-Property finance is difficult to obtain.<br />

-Media ‘doom and gloom’ further affecting<br />

market sentiment.<br />

-Many properties coming into the market<br />

increasing supply, whilst the demand is weak<br />

at best.<br />

Recovery<br />

The recovery is shorter that the boom or bust<br />

phases; this phase is determined by a number<br />

of improvements factors following better signs<br />

5


during the end of the bust phase; the very early<br />

signs are:<br />

-Increased rents and vacancy levels lowering.<br />

-Property prices begin to increase or stop falling.<br />

-Uncertainty in the media as to whether the bust<br />

is over, or if it is just a short reprieve.<br />

-Buyer are generally uncertain and hold off.<br />

The property market, as explained above, is highly<br />

cyclical. One important factor, not covered above,<br />

is that the property market is segmented: that is<br />

divided into mini markets, and the segments get<br />

smaller and more specific; these segments are<br />

defined by the use of property, such as residential<br />

or commercial; and within these uses, are the<br />

main various cities, and then regions within these<br />

cities and the types of properties within these<br />

smaller regions.<br />

The overall cycle of say the residential property<br />

market in Sydney may be counter cyclical to the<br />

residential market in Perth, for example: as we<br />

have seen in recent years, when the Perth housing<br />

market was booming due to the mining investment<br />

phase, the Sydney housing market was in the<br />

doldrums; and this year, it’s in almost the reverse.<br />

Melbourne is beginning to stagnate mainly due<br />

to the over development of apartments, while<br />

Sydney is on a growth path of new construction.<br />

Segmenting the Sydney housing market further<br />

and concentrating on regions, such as the Lower<br />

North Shore, provides valuable information to<br />

property investors; as the cycle of this segment<br />

might not follow the general Sydney residential<br />

cycle. Because timing is at the core, and three<br />

months could make a notable difference in values,<br />

the changes in the nuances of the market from<br />

recovery to boom must be noticed and considered<br />

in order to capture the full benefit of a particular<br />

cycle.<br />

The two graphs, on the previous pages, have<br />

been part of this column for many years, highly<br />

segmented, covering the three main local<br />

government areas on Sydney’s lower North shore<br />

and cover the past five years. Here is an example<br />

that within on local council area of say Mosman,<br />

divided further to a segment on houses in Mosman<br />

and one on units: for the past five years Mosman<br />

houses have hovered around $2 million; whereas<br />

units have increased from $460,000 to $675,000;<br />

an astonishing increase of 46%.<br />

In writing this article, I was inspired by ‘100 years<br />

of Real Estate values in Chicago’; Homer Hoyt.<br />

New York : Amo Press, 1970 (c1933). Dr. Hoyt was<br />

a property valuer and a Land Economists and was<br />

the first pioneer of studying property cycles, he<br />

had an amazing career that incorporated work<br />

as a real estate consultant, an investor and in<br />

academia. Other contents of this article are drawn<br />

from the quarterly Property Profile; Real Estate<br />

Institute of NSW (March <strong>2013</strong>)<br />

John Tower<br />

M.D. Tower & London<br />

Licensed Real Estate Agent<br />

Registered Property Valuer<br />

6


Landlord Protection Insurance<br />

Why do landlords need insurance?<br />

Most people are familiar with insurance – you buy<br />

an expensive product then you buy insurance to protect<br />

it in case of loss or damage. Think of your car, your mobile<br />

or laptop. It is the same when it comes to investment<br />

properties. Most landlords do not want to think about<br />

damage to their investment properties, tenants who do not<br />

pay the rent or people sustaining an injury on their property,<br />

but unfortunately these things do happen.<br />

Landlords’ protection insurance is designed specifically<br />

for landlords in these situations.<br />

What does it cover?<br />

-Malicious Damage– covers deliberate and intentional<br />

damage by tenants in the property.<br />

-Your liability as a landlord– covers claims made against<br />

you by a tenant or visitor to the property<br />

-Rent Default– if your tenant defaults on rent, leaves the<br />

property before the end of the rental period or is legally<br />

evicted, the policy can provide cover for lost rent until<br />

the property is re-let.<br />

Without insurance, the landlord would be paying for the<br />

above listed items out of their own pocket.<br />

What is not covered?<br />

Most landlords’ insurance doesn’t cover what’s called tenant<br />

neglect or general wear and tear. This could include cigarette<br />

burns in the carpets, scuff marks on the walls from moving<br />

furniture and damage caused by pets.<br />

How much does it cost?<br />

Landlords’ insurance is priced for affordability – around $345<br />

per annum for every property in NSW.<br />

Landlord insurance VS building Insurance<br />

Many landlords are confused between landlord insurance<br />

and building insurance, to assist in understanding<br />

the differences please see the below case study.<br />

Case study<br />

In January 2011, the owners and their property<br />

manager accepted a professional couple to be tenants<br />

in a property. In December 2012, the tenant stopped making<br />

rental payments and the property manager terminated<br />

the tenancy based on ‘non-payment of rent’. When the<br />

keys were returned, the property manager viewed the<br />

property and found that there had been numerous instances<br />

of malicious damage throughout the property. The tenant<br />

also owed six weeks of rental payments.<br />

If he had a building policy…<br />

A standard building policy does not cover:<br />

-rent default when the tenant leaves without notice<br />

-Loss of rent when the property cannot be rented out<br />

-Damage caused by the tenant or their visitors<br />

The owner learns this when he submits his claim.<br />

Unfortunately, the bond is not enough to cover the six<br />

weeks of rental payments as well as the cost of making the<br />

apartment presentable for re-letting and the loss of rent<br />

between tenants.<br />

If he had a landlords’ protection insurance policy…<br />

A landlord’s insurance policy covers events not usually<br />

recoverable under standard building and/ or contents<br />

policies. This includes malicious damage, loss of rent and<br />

rent defaults. In the above scenario, the owners claim<br />

would have been accepted by his insurer.<br />

Sophie Wang<br />

Accountant<br />

Tower & London<br />

7


Residential Sales<br />

53 Wheeler Parade, Dee Why<br />

AUCTION- Onsite 14th September 11am<br />

Grandstand Panoramic Views<br />

A rare opportunity to acquire a unique parcel of land on the apex of the Dee Why/ North Curl Curl peninsula.<br />

We are offering a very comfortable full brick home circa 1950’s with the opportunity to further develop the home by the<br />

addition of a second storey or a full demolition and redevelopment of the site, subject to council approval.<br />

This elevated, near level block has driveway access and is surrounded by modern homes justifying substantial further<br />

investment in the site.<br />

Enjoy a casual 600 metre stroll down to the vibrant Dee Why beachfront bar and restaurant scene or if the surf is up at North<br />

Curl Curl, it’s just on a kilometre away.<br />

8


Residential Sales<br />

Outgoings<br />

Water<br />

Council<br />

$690 per quarter<br />

$2,241 per quarter<br />

4 2 2<br />

Details and Viewing:<br />

John Tower<br />

Phone: 9956 6500<br />

Email: john@towerlondon.com<br />

www.towerlondon.com<br />

9


Residential Sales<br />

4/36 Milner Crescent, Wollstonecraft<br />

AUCTION<br />

Spacious Townhouse<br />

SOLD<br />

This property lies hidden in the midst of leafy trees, in a collection of<br />

distinctive townhouses in beautiful Wollstonecraft. With a totally separate<br />

front door this townhouse feels just like a freestanding house. Featuring<br />

three bedrooms on the top floor, all with leafy green outlooks; the main<br />

boasting an ensuite.<br />

The downstairs level is surrounded by sliding doors with timber shutters,<br />

separating the wraparound courtyard and garden from the spacious internal<br />

areas. The property also includes a Lock-up garage.<br />

3 2<br />

Details and Viewing:<br />

John Tower<br />

Phone: 9956 6500<br />

Email: john@towerlondon.com<br />

www.towerlondon.com<br />

1<br />

10


4/45 Chandos Street, St Leonards<br />

For Sale $875,000<br />

Residential Sales<br />

Winter Garden<br />

SOLD<br />

Reminiscent of Renzo Piano’s designs; this apartment is flanked by a full<br />

width sunroom with floor-to-ceiling louvered glass panels creating a shelter<br />

for light and warmth. Combined, but distinctly positioned, are the dining<br />

and lounge areas, each with its own opening to the sunroom; the master<br />

bedroom, also opening to the sunroom, has a superb ensuite and a fitted<br />

walk-in wardrobe; the second and third bedrooms are both with wardrobes,<br />

the former is larger. The main bathroom has two areas separated by a timber<br />

framed glass door, a fitted laundry and a magnificent and fully equipped open<br />

plan kitchen with German made fixtures, finished with stone benches. This<br />

near new apartment is in a medium rise block of four to a floor apartments<br />

in an enviable position near St Leonards plaza, station and just a short walk<br />

to Crows nest cafés and restaurants.<br />

11<br />

3 2 1<br />

Details and Viewing:<br />

John Tower<br />

Phone: 9956 6500<br />

Email: john@towerlondon.com<br />

www.towerlondon.com


Residential Sales<br />

54/7-17 Sinclair Street, Wollstonecraft<br />

For Sale $450,000<br />

Art Deco With City Lights<br />

This unique modern two level apartment was recreated in one of the north<br />

shore’s famous Art Deco buildings, On the corner of Sinclair and Rocklands<br />

road and opposite the Mater Hospital; it is stone’s though away from public<br />

transport and a short stroll to Crows Nest Café’s and shops; the living room,<br />

fully equipped kitchen and laundry are on the entry level, and the bedroom<br />

and bathroom are on the upper level. This is a security building with<br />

underground parking space. This compact but well-designed unit is priced at<br />

a realistic level for the discerning owner occupier to investor.<br />

1 1<br />

Details and Viewing:<br />

John Tower<br />

Phone: 9956 6500<br />

Email: john@towerlondon.com<br />

www.towerlondon.com<br />

1<br />

12


47/94-96 Alfred Street, Milsons Point<br />

For Sale $950,000<br />

Residential Sales<br />

Northern Winter Sun In Every Room<br />

SOLD<br />

This sizable apartment is in one of Milsons Point popular buildings, Portofino;<br />

next to the historic church building. Positioned on the eighth floor and on<br />

the northern and eastern side of the building capturing lovely harbour views<br />

and abundant winter warmth. Internally the apartment is of typical size for<br />

the 1990’s era, being about ten squares. Although the lounge and dining<br />

area are in one room, they are adequately separated to their own side of<br />

the elongated living space, both sharing the side northern balcony with<br />

its expansive glass doors framing the church steeple, only slightly covered<br />

by the classic timber shutters allowing sunlight to be controlled, while the<br />

lounge itself also opens to the semi-circle balcony at the front taking in the<br />

views.<br />

2 2 1<br />

Details and Viewing:<br />

John Tower<br />

Phone: 9956 6500<br />

Email: john@towerlondon.com<br />

www.towerlondon.com<br />

13


Residential Sales<br />

6 Waiwera Street, McMahon Point<br />

AUCTION- Onsite 18th October<br />

Classic Terrace With Harbour Views<br />

Commanding position, on the east side of the peninsula, set high above<br />

street level is this fine property in a row of beautiful terraces. The classic<br />

architectural features have been preserved over time; renovations were<br />

made some time ago leaving room, and the opportunity, for the new owners<br />

to further improve and put their mark on the property. Accommodation<br />

on the entry level comprises formal lounge and dining rooms, leading to<br />

kitchen and family room and opening to the rear courtyard. The 2nd level<br />

accommodates two bedrooms, the main with an amazing view of the harbour<br />

and the Harbour Bridge, and the rear bedroom is of fine propositions, and<br />

two good bathrooms. Stairs leading to the upper most floor with an enclosed<br />

third bedroom or study. This terrace has a lock-up garage at the front and a<br />

front courtyard area above it.<br />

14<br />

3 2.5<br />

Details and Viewing:<br />

John Tower<br />

Phone: 9956 6500<br />

Email: john@towerlondon.com<br />

www.towerlondon.com<br />

1


11/1 Harbourview Crescent, Milsons Point<br />

For Sale $1,700,000<br />

Residential Sales<br />

Mirvac on Lavender Bay<br />

SOLD<br />

Away from the bustle of Milsons Point, opposite Clark Park there is an icon<br />

in the area: Helmspray, is one of the original quality buildings in Lavender<br />

Bay/Milosns Point area developed by Mirvac, arguably, Australia’s best<br />

development company; a relatively small well-built block, substantially<br />

owner occupied, with another access form the side lane to Milsons Point<br />

station. Unit 11 is perfectly positioned to capture pleasant views of Lavender<br />

Bay and the tranquil sounds of ropes ringing the boat masts. Accommodation<br />

comprises three bedrooms with ample hanging storage, two superbly<br />

renovated bathrooms, a quality kitchen with breakfast area, semi enclosed<br />

dining room, lounge and all the bedrooms are wrapped in balconies, laundry<br />

and storage.<br />

3 2 2<br />

Details and Viewing:<br />

John Tower<br />

Phone: 9956 6500<br />

Email: john@towerlondon.com<br />

www.towerlondon.com<br />

15


Residential Sales<br />

709/2 Dind Street, Milsons Point<br />

For Sale $1,350,000<br />

Spectacular Harbour Views From The Pinnacle<br />

SOLD<br />

The Pinnacle is a luxuriously appointed modern building in prime location in<br />

Milsons Point, with first class amenities and 24 hour concierge. Set in midlevels,<br />

this superb 2 bedroom apartment enjoys sweeping harbour views<br />

from every room; the harbour bridge, in full view, is prominent from every<br />

window; like a post card from the living room. Two marble bathrooms, the<br />

master is lavish; and a delightful kitchen with quality fittings and stone<br />

benches. The balcony, accessed from the living room and the main bedroom,<br />

is private, sheltered and capacious with a great view. Not just car space, but<br />

a separate lock-up garage on title.<br />

2 2<br />

Details and Viewing:<br />

John Tower<br />

Phone: 9956 6500<br />

Email: john@towerlondon.com<br />

www.towerlondon.com<br />

1<br />

16


507/2 Dind Street, Milsons Point<br />

For Sale $1,000,000<br />

Residential Sales<br />

A Quintessential Milsons Point Apartment<br />

SOLD<br />

The Pinnacle has been described as “the benchmark in Architectural<br />

Excellence this level of quality certainly ranks it as one of the best buildings<br />

in Milsons Point; ideally positioned at the edge of the high-rise precinct, with<br />

resort like facilities including a lap pool and a great gym. This elegant two<br />

bedroom apartment has a massive living area finished with solid parquetry<br />

timber floors spanning 8.4 meters, on one end is the kitchen on the other a<br />

large window with diagonal views of the western end of the harbour. Two<br />

fully fitted bedrooms with ample storage, the second is larger than most;<br />

two marble bathrooms that only pictures do justice; the kitchen is a delight<br />

with quality appliances, a square useful balcony and a lockup garage.<br />

2 2 1<br />

Details and Viewing:<br />

John Tower<br />

Phone: 9956 6500<br />

Email: john@towerlondon.com<br />

www.towerlondon.com<br />

17


Residential Lease<br />

LEASED<br />

14/1 Harbourview Crescent, Milsons Point<br />

For Lease $1,100pw<br />

Elegant & Spacious Furnished<br />

Apartment with Stunning Views.<br />

Situated on the 5th floor of the ‘Helmsprey’ building,<br />

this apartment comprises three bedrooms with plenty<br />

of storage, two superbly renovated bathrooms, a quality<br />

kitchen with breakfast area, semi enclosed dining room,<br />

open lounge and internal laundry. The property also<br />

features an over-sized wraparound balcony perfectly<br />

positioned to capture stunning views of the city and part<br />

of the Harbour Bridge whilst also boasting tranquil views<br />

over Lavender Bay.<br />

3 2 2<br />

LEASED<br />

65/94-96 Alfred Street, Milsons Point<br />

For Lease $1,100pw<br />

Breathtaking Views Across the<br />

Harbour<br />

This sizable apartment is in one of Milsons Point popular<br />

buildings, Portofino; next to the historic church building.<br />

Positioned on the 12th floor and capturing lovely<br />

harbour views and abundant winter warmth. Featuring<br />

3 bedrooms, the master with a walk in robe and ensuite<br />

as well as storage in the other 2 bedrooms plus 2 carspaces.<br />

The property has recently undergone major refurbishment<br />

including a brand new kitchen, new timber flooring, carpet,<br />

wardrobes, blinds and a fresh coat of paint throughout.<br />

3 2 2<br />

18


LEASED<br />

20/7 Highview Avenue, Neutral Bay<br />

For Lease $750pw<br />

Sweeping Sydney Views<br />

Residential Lease<br />

Perched high atop Neutral Bay, this spacious two<br />

bedroom apartment enjoys panoramic views of the CBD,<br />

Harbour Bridge, harbour and North Sydney. Internally,<br />

the apartment boasts generous living areas, totaling<br />

102sqm. The property has 2 bedrooms, both with built in<br />

storage, a large bathroom equipped with bath and shower,<br />

internal laundry and a great kitchen with amazing views.<br />

In addition, the property also features a large wrap-around<br />

balcony and parking for 2 cars in tandem.<br />

2 1 2<br />

LEASED<br />

709/2 Dind Street, Milsons Point<br />

For Lease $1,200pw<br />

Spectacular Harbour views from<br />

the Pinnacle- Furnished<br />

The Pinnacle is a luxuriously appointed modern building<br />

in prime location in Milsons Point, with first class<br />

amenities and 24 hour concierge. Set in mid-levels, this<br />

superb furnished 2 bedroom apartment enjoys sweeping<br />

harbour views from every room. Two marble bathrooms,<br />

the master is lavish; and a delightful kitchen with quality<br />

fittings and stone benches. The balcony, accessed from the<br />

living room and the main bedroom, is private, sheltered<br />

and capacious with a great view. Not just car space, but a<br />

separate lock-up garage.<br />

2 2 1<br />

19


Residential Lease<br />

809/8 Glen Street, Milsons Point<br />

Featuring a spacious modern design, with high ceilings and flowing living<br />

areas, this furnished one bedroom unit offers an unsurpassed level of<br />

style and comfort. Perfectly positioned in one of Milsons Point’s most<br />

contemporary buildings ‘Azure’, this property is a short walk to cafes,<br />

shops, public transport & North Sydney’s CBD.<br />

1 1 $600pw<br />

301/227 Victoria Street, Darlinghurst<br />

Situated in the iconic “Top of the Town” apartment complex, this one<br />

bedroom furnished apartment, is ideally located close to the Eastern<br />

Suburbs best cafes, restaurants and bars. The large open-plan living room<br />

features a foldaway bed hidden behind a built in bookcase and can be split<br />

in half by hidden doors to form a private second bedroom when needed.<br />

1 1 $600pw<br />

LEASED<br />

34/20 Carabella Street, Kirribilli<br />

Beautifully renovated spacious studio with harbour views from the<br />

balcony. Featuring brand new carpet in the living areas and new flooring<br />

in the kitchen. Property includes a generous balcony off the living room<br />

to enjoy the harbour views.<br />

1 1 $400pw<br />

LEASED<br />

702/12 Glen Street, Milsons Point<br />

This beautifully presented furnished one bedroom offers a quiet home for<br />

the busy exectutive. Light & bright living area with large balcony offering<br />

views over Lavender Bay, polished floor boards and a well equipped<br />

kitchen. The spacious bedroom is freshly carpeted & offers generous<br />

wardrobe space and access to the ample balcony.<br />

1 1 1 $650pw<br />

LEASED<br />

20


Residential Lease<br />

202/38 Alfred Street, Milsons Point<br />

Located in the landmark building Port Jackson Tower this apartment<br />

features a large living area with timber floors, and floor to ceiling glass<br />

capturing pleasant views across to Bradfield Park with glimpses of the<br />

Harbour. Two spacious bedrooms, modern kitchen and bathroom, sunny<br />

balcony with Internal laundry & one security parking.<br />

2 2 1 $750pw<br />

51/21 Elamang Avenue, Kirribilli<br />

This fabulous 2 bedroom unit is positioned in a quiet & bright corner of the<br />

building capturing tranquil water views over Careening Cove. It features<br />

built-in wardrobes in both bedrooms, & bathroom equipped with shower<br />

over bath. It is located in a security building which offers an external<br />

swimming pool.<br />

2 1 $600pw<br />

LEASED<br />

LEASED<br />

5/67 Kurraba Road, Neutral Bay<br />

Well presented one bedroom apartment located in the heart of Neutral<br />

Bay. Renovated kitchen, bedroom with built in wardrobe as well as one<br />

car space.<br />

1 1 1 $400pw<br />

703/30 Glen Street , Milsons Point<br />

This prestigious three bedroom apartment boasts serene harbour views over<br />

Lavender Bay captured by the long balcony that stretches the length of the<br />

property. The apartment offers a beautifully modern kitchen with hardwood<br />

floors, gas cooking, stainless steel Bosch appliances & plenty of storage as<br />

well as an internal laundry.<br />

3 2 2 $1,100pw<br />

21


COMMERCIAL REAL ESTATE<br />

Landlords need to find good commercial tenants<br />

to compliment their investment property and<br />

provide reliable returns on their investment<br />

Landlords need to take a long term view<br />

of where they want their investment property<br />

to be positioned as a desirable location for<br />

tenants to occupy and do business. Landlords<br />

need to find tenants that can run successful<br />

businesses and demonstrate the desirability<br />

of occupying their property and attract other<br />

robust and profitable tenants who are able<br />

to pay the rent.<br />

Commercial leases usually create lengthy<br />

terms of occupation and the landlord<br />

has to plan a strategy which provides<br />

an harmonious tenancy mix, competitive<br />

lease covenants providing for rental growth<br />

and the opportunity for capital growth.<br />

Tenant mix<br />

The right anchor tenant will attract<br />

a complimentary mix of tenants which should<br />

have the right fit with other minor tenancies<br />

in the building. Anchor tenants usually<br />

require exclusivity of use as part of the lease<br />

negotiation process.<br />

Buildings without anchor tenants require<br />

the landlord to seek out complementary<br />

tenancies which in some cases can compete<br />

22<br />

for particular patronage. A good example<br />

of this is the fast food industry where outlets<br />

of popular brands such as McDonalds,<br />

KFC and Dominos co exist profitably and<br />

become a sought after centre for fast food<br />

in the locale.<br />

Rents<br />

The current commercial market, particularly<br />

on the lower north shore, has been largely<br />

driven by a rash of company downsizing<br />

and economy measures. Today’s tenants<br />

are well aware of the regime of incentives<br />

being almost universally offered by landlords<br />

to attract tenants. Landlords need to know the<br />

marketplace and set an achievable balance<br />

of rental income versus incentives to get<br />

a result which is beneficial to both parties.<br />

Presentation<br />

Improvement to the presentation<br />

of commercial space is one really positive way<br />

improving the desirability of the premises<br />

to potential tenants. We recently leased<br />

space to a prominent architectural firm who<br />

were given the opportunity of input into the<br />

make good of the outgoing tenant and the<br />

design of the reception area to create an ideal


Commercial Sales<br />

layout for their practice. They could of leased<br />

cheaper space but preferred this option.<br />

Marketing<br />

Specific direct marketing approaches still<br />

generate good tenancy inquiry however ask<br />

yourself where you would look for commercial<br />

space and invariably you come back to the<br />

internet as the preferred advertising medium.<br />

Sites such as www.realcommercial.com.au<br />

and www.commercialview.com.au now offer<br />

broad coverage of the commercial, industrial<br />

and retail markets at a fraction of the cost<br />

of print media.<br />

What we’ve covered here is just a brief outline<br />

of sound reasoning on the current market.<br />

If you’d like to talk to us about finding good<br />

tenants, or if you are a tenant looking for<br />

your ideal office space, please give me a call<br />

on (02) 9922 7007 or Email me, John Wood,<br />

commercial@towerlondon.com.<br />

John Wood<br />

Licensed Real Estate Agent<br />

Commercial, Industrial and Retail<br />

Shop 1/144-150 Liverpool Street, Darlinghurst<br />

For Sale $550,000 + GST<br />

Prime Street Frontage Retail<br />

•Busy Precinct<br />

•50 Metres From Oxford Street<br />

•Good Exposure and Signage<br />

•Approximately 30 sq metres<br />

This is a great opportunity for the switched on retailer to<br />

capitalise on this inner city location. Busy yet friendly with<br />

an eclatic mix of bypasses and neighbours.<br />

Total<br />

Area<br />

32sq<br />

Details and Viewing:<br />

John Wood<br />

Phone: 9956 6500<br />

Email: commercial@towerlondon.com<br />

23


Commercial Sales<br />

23 Awaba Street, Lisarow- For Sale or Lease<br />

Offers Over $2,000,000 + GST<br />

Budget Price Point Industrial Freestanding<br />

Buildings For Sale or Lease<br />

Building A:932 sq metres with offices and amenities<br />

Building B:1639 sq metres with offices and amenities<br />

$75 Per sq metre per annum + gst net<br />

Clearspan warehousing plus loading docks<br />

Low outgoings<br />

Secure on site parking<br />

Walk to lisarow station<br />

SMSF’s note will show positive cash flow<br />

Opportunity knocks for the astute purchaser or tenant to secure good<br />

industrial premises in a central location offering easy access by public<br />

transport.<br />

Building<br />

A<br />

932sq<br />

Building<br />

B<br />

1639sq<br />

Details and Viewing:<br />

John Wood<br />

Phone: 9956 6500<br />

Email: commercial@towerlondon.com<br />

24


9/9-11 Chaplin Drive, Lane Cove<br />

For Sale Realistic Offers Considered<br />

Commercial Sales<br />

High Tech Industrial Unit- Hugely Motivated<br />

Vendor- Security Estate<br />

Modern high tech industrial unit located in the Lane Cove Industrial area. It<br />

consists of ground floor warehouse area (104 sqm) and mezzanine level air<br />

conditioned office space (88 sqm). The total strata plan area is 248 sq metres<br />

inclusive of car parking - 4 car spaces in total.<br />

Chaplin Drive is a precinct of modern, recently developed industrial buildings<br />

and has easy access to the Gore Hill, M2 & M7 freeways. All major Sydney<br />

industrial areas are serviced by this network<br />

Total<br />

Area<br />

192sq 4<br />

Details and Viewing:<br />

John Wood<br />

Phone: 9956 6500<br />

Email: commercial@towerlondon.com<br />

25


Commercial Leasing<br />

302/161 Walker Street, North Sydney<br />

For Lease- Realistic Market Expectations<br />

Sharp Fit Out - Sharp Pricing<br />

•125 sq metres approximately<br />

•Internal Kitchen<br />

•Boardroom<br />

•Reception<br />

•General Office Area<br />

•2 Offices/Meeting Rooms<br />

This 125 sq metre office has a lot to offer with a very versatile layout. Walker<br />

House is conveniently located near Berry Street. Security car space in<br />

basement of building.<br />

Total<br />

Area<br />

125sq 1<br />

Details and Viewing:<br />

John Wood<br />

Phone: 9956 6500<br />

Email: commercial@towerlondon.com<br />

26


Shop 4/59-67 Strathallen Avenue, Northbridge<br />

For Lease $48,000 + GST<br />

Commercial Leasing<br />

Main Road Retail With All Day Parking Retail<br />

Exposure At Office Rental<br />

•91 sq metres<br />

•Central location<br />

•10 minutes to the 3 cbds<br />

•Modern refurbished centre<br />

•Look at the rent only $48000 pa + gst<br />

Looking for exposure and client parking??<br />

Look no further!!<br />

Total<br />

Area<br />

91sq 7<br />

Details and Viewing:<br />

John Wood<br />

Phone: 9956 6500<br />

Email: commercial@towerlondon.com<br />

27


Our Offices<br />

SYDNEY<br />

38 Alfred Street,<br />

Milsons Point, NSW 2061<br />

Sydney, Australia<br />

Phone: (612) 9956 6500<br />

Fax: (612) 9956 6522<br />

HONG KONG<br />

6/F Luk Kwok Centre,<br />

72 Gloucester Rd,<br />

Wan Chai, Hong Kong<br />

Phone: (852) 2918 8788<br />

Fax: (852) 2918 9808<br />

•Executive Leasing<br />

•Property Sales<br />

•Property Management<br />

•Property Refurbishment<br />

•Valuations<br />

www.towerlondon.com<br />

28

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