2010 June

Commanding views
PROPERTY REVIEW
June 2010
Tower & London
www.towerlondon.com
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Tower & London
PROPERTY REVIEW
A monthly magazine published by
Tower & London
Table of contents
Feature Property
1602/55 Lavender St Milsons Pt.
Front cover
Message from John Tower
From Boom to Gloom, So they Say! 3
Current Sales 4-10
Current Leasing 11-14
Our Team And Office 15
Useful Resources
Back Cover
Enquiries regarding this magazine should be made to:
Tower & London
38 Alfred Street,
Milsons Point NSW 2061
Phone: (61) 2 9956 6500 Fax (61) 2 9956 6522
Email: reception@towerlondon.com
Disclaimer:
The information contained in this publication is for general information purposes only. Readers are advised that
while an earnest effort has been taken to ensure the information in this document was obtained from reliable
sources, Tower & London gives no guarantees or warranties, written or implied, over 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 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.
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Message from John Tower
John Tower
Managing director
Property Valuer
From Boom to Gloom, so they say!
I am always intrigued by the reporting of the property
market fluctuations; it is not so much that the reporting is
not factual, it appears mostly to be one or the other:
boom or bust.
In this column I wrote in April about the emphasis placed
on a perceived property boom; the biggest problem with
the reporting then was that they were relying on figures
from the December quarter; and as we know: that quarter
was fuelled by the First Home buyers cashing in on the
Government grants.
For two consecutive months the Reserve Bank of Australia
(RBA) has held official interest rates as the same
level. This month the Board of the RBA decided to leave
the cash rate unchanged at 4.5%; in his media release
the governor of the RBA, Glenn Stevens wrote:
“In Australia, with the high level of the terms of trade expected
to add to incomes and demand, output growth
over the year ahead is likely to be about trend, even
though the effects of earlier expansionary policy
measures will be diminishing. Inflation appears likely to
be in the upper half of the target zone over the next year.
Consistent with that outlook, and as a result of actions at
previous meetings, interest rates to borrowers are around
their average levels of the past decade, which is a significant
adjustment from the very expansionary settings
reached a year ago. Taking all the available information
into account, the Board views this setting of monetary
policy as appropriate for the near term”
It is very comforting for property buyers, and particularly
to residential property investors to know that interest
rates are at their “average levels”, and perhaps more importantly
that they are likely to remain at these levels for
the “near term”.
I am particularly interested in the so called return of the
property investor. I have touched on this before, and it
is because I am in the business of dealing with hundreds
of residential property investors. Interest rates or
more importantly the stability of interest rates is crucial
to the astute residential property investor for the following
reasons:
1. Most residential property investors borrow the
majority of the value of the property.
2. Income (rental return) is very stable, the fluctuations
are minimal and vacancy factors are historically
very low.
3. Expenses are also very predictable, especially
with modern apartment buildings, where most
the investors are buying in.
4. Government policies on Negative Gearing and
Depreciation Allowances appear to be bipartisan.
This leaves interest rate fluctuation levels as the only
unknown factor; one can only predict its path, but
mostly it’s a gamble. It is a much safer gamble when
the Governor of the RBA assures us, just for the time
being, that interest rates are likely to stay at this level.
Mow that the herd of First Time Buyers have purchased
their property, albeit, the wrong one and paid
too much in the frenzy. Many of them will probably
move back home to live with their parents after that
mandatory six months. Thus, a new breed of property
investor is being trained. The first thing they are going
to get used to is the gap between the net income and
the interest payment every month.
For the astute investor though, buying an investment
property is about timing and choice. Timing: is to buy
when it is not a frenzy, some know when there is one,
but for most, when it is over; and they are holding a
huge mortgage. Choice: is to buy an investment property,
not one that one likes in a nice building, but one
that is well located to public transport, in a good building
that is well managed.
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Current Sales
4/36 Milner Crescent, Wollstonecraft
Auction: Saturday 1:00pm 7 August 2010
Townhouse with light and space surrounded by trees
In the midst of gum trees near Wollstonecraft Station, and nearly hidden
from the street level, is a collection of distinctive townhouses; this one,
just like a house, with a double front door on its own. The three bedrooms
on the top floor are delightful, all looking out onto trees; the main has an
ensuite. Downstairs and the spaces are expansive, surrounded by sliding
doors with timber shutters, separating the wraparound courtyard and garden
from the internal spaces. The midday sun, in winter, creates a spectacle
of light and colour, slightly shaded by the trees and shaped by the
shutters. Lock-up garage in secure parking area; total lot area is 226 sqm.
Inspection: Sat 12:30pm-1:00pm
Contact: John Tower 0408 216 979
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Current Sales
707/9 William Street, North Sydney
For Sale $525,000
Under contract
Open Inspection Saturday 11:00am-11:30am
In the Heart of North Sydney modern building with Gym and outdoor
pool; this great one bedroom apartment has city and harbour views;
the lounge and bedroom open to a large balcony with massive views.
Details and Viewing: Coco Huang 0402 248 628
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Current Sales
2/2 Banksia Road, Bellevue Hill
For Sale $1,185,000
3 Bedroom Townhouse filled with light
Centrally located in Bellevue Hill near the Royal Sydney Golf Course; and in a small
block of four, townhouse 2 is perfectly positioned to escape the street noise and capture
light; the massive living room opens to a peaceful and private timber courtyard. Three
good bedrooms, all with built-ins and opening to a balcony, the main is delightful with
walk-in wardrobe and a superb ensuite, another bathroom upstairs and a powder room
off the kitchen; and double lock-up garage securely below.
Details and Viewing:
John Tower 0408 216 979
Coco Huang 0402 248 628
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Current Sales
1602/55 Lavender Street, Milsons Point
For Sale $3,950,000
3 Bedrooms, 2 Bathrooms, 2 Parking spaces and
one spectacular view
The last building to the North of Milsons Point; and to the east of Clark Park “Latitude”
Winner of the 2008 UDIA National Awards for Excellence, is Mirvac’s finest building in
Milsons Point, perfectly perched on the 16th floor and capturing the ultimate harbour view
is this superb apartment. All rooms wrapped in glass, opening onto balconies with shutters
and enjoy harbour views spanning across to the Blue Mountains, large square deck
perfectly positioned at the front of the property.
Details and Viewing: John Tower 0408 216 979
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Current Sales
1603/2 Dind Street, Milsons Point
For Sale $1,230,000
3 Bedrooms, 2 Bathrooms, Parking and
North Easterly Aspect
“The Pinnacle” is a superbly appointed and secure building commanding a grand position
on the harbour. Apartment 1603 is situated on the northern and eastern side of the building
capturing warm winter sun and glimpses of Neutral Bay. Three good bedrooms, all
with built-in wardrobes, two with own balconies. Large open living space with timber floor
boards and ample light.
Details and Viewing: John Tower 0408 216 979
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Current Sales
2102/ 2 Dind Street, Milsons Point
For Sale $2,180,000
Spectacular views from wide open spaces
The Pinnacle is the finest apartment building in Milsons Point; this could possibly
be the best value apartment offered. Spectacular harbour views from every
room of this rambling property, perched on the 21st floor watching the sun set
and displaying magical colours. The main bedroom and the second bedroom
are almost identical in size and a smaller 3rd bedroom. The living room is
massive with a separate dining nook. Modern kitchen, two bathrooms and a
powder room are lined with marble tiles. Double lock-up garage, 24 hour concierge,
three fast lifts, indoor swimming pool, a gym and a beautiful lobby.
Details and Viewing: John Tower 0408 216 979
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Current Sales
327/38-46 Albany Street, St Leonards
For Sale $400,000
1 Bedroom Apartment in the Aria
In the heart of St Leonards Village Centre is this medium sized colourful and efficient
building; on the third floor opposite the wonderful street trees we offer this nice one
bedroom (internal bedroom) unit, comprising an enclosed balcony which double up
as a large dining area or study. Modern, tidy and ready to move in or have it leased
for $400 per week.
Details and Viewing: Coco Huang 0402 248 628
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Current Leasing
38-46 Albany Street, St Leonards - $710PW
Modern Three Bedroom Apartment
Modern naturally lit three bedroom apartment in a security building
with two bathrooms, internal laundry, modern open plan kitchen with
gas cook top, ducted air-conditioning, balcony and two secure parking
spaces.
Minutes walk from St Leonards train station & Crows Nest shopping
strip.
31-39 Elamang Avenue, Kirribilli - $850 PW
Brilliant Waterfront Apartment
Two bedroom apartment with large North facing terrace capturing
harbour & bay views. Two bathrooms, main bedroom with ensuite,
walk in robes and balcony. Large living area with full glass frontage
opening onto a sun-drenched balcony. Private lane leading to lockup
garage.
7 Northcliffe Street, Milsons Point - $500PW
One of the Finest Buildings
This ultra modern fully furnished studio apartment has generous
space and ample light. Timber floors throughout, high quality and
fully equipped kitchen, fold-away bed neatly preserves a good living
space. Close to trains and ferry.
55 Lavender Street, Milsons Point - $1100PW
Classy & Elegant
Latitude is the newest and most exciting building in Milsons Point.
Occupying the front north side of the building and enjoying distant
harbour and district views is this extra large two bedroom apartment.
It is fully furnished with comfortable furniture and has luxurious bathrooms,
a delightful kitchen, open plan living & secure parking space.
Few minutes walk to train station and ferry wharf.
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Current Leasing
110 Alfred Street, Milsons Point - $1000PW
Best of North Shore Living
This fully furnished 3 bedroom apartment offers the best of northshore
living. Located near the hub of restaurants and public
transport, it boasts a large balcony with views, generous kitchen
and large living/dining area. It also has two bathrooms, built-ins
and one secure parking space.
30 Glen Street, Milsons Point - $390PW
Ultra Modern Fully Equipped Studio
The timber floor entry greets a small but thoroughly modern kitchen,
the bathroom has a full size bath and built in laundry with
washer and dryer. The living space has a lift bed with lounging
benches all round, a built in desk and dining table for two. A completely
furnished and equipped studio in one of the best buildings
in Milsons Point with indoor pool and gym, just across the park
from the train station.
33 East Crescent Street, McMahons Point - $1100 PW
Harbour Front Panorama
This is a superb waterfront apartment enjoying interrupted harbour,
bridge and opera house views from a north-easterly setting. On two
levels, the property has three bedrooms and two bathrooms; the polished
timber floors of the lounge open onto a fabulous balcony wrapping
around it and the dining room. Security parking space for one
car.
48 Atchison Street, St Leonards - $650PW
Furnished Executive Apartment
“Arden” is one of the finest modern buildings in St Leonards Village
Centre. This superior north facing two bedroom apartment comes fully
furnished. It comprises of two bedrooms, two bathrooms, combined
living room, internal laundry, fully equipped kitchen, balcony & secure
parking.
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Current Leasing
38-46 Albany Street, Milsons Point - $670PW
Timber floors, skylights and marble bathrooms
This fabulous two bedroom top floor apartment is filled with light
and spaciousness; two bedrooms and two bathrooms warped
around the front of the building and skylights, perfectly polished
timber floors throughout leading to a full size balcony on top of
the building. Secure parking, near St Leonards station in the
heart of the village.
27 Waruda Street, kirribilli - $1000PW
Opposite to the Opera House
Situated on the edge of Sydney Harbour with spectacular views
of the iconic Opera House, city skyline and Harbour Bridge; we
have an exclusive and elegant two bedroom apartment. This
apartment has been renovated to the highest standard and can
be leased fully furnished or un-furnished as required. The kitchen
is open plan overlooking the combined lounge/dining which
leads to the waterfront balcony. Wooden floorboards flow
throughout, the bathroom is modern and built in robes are provided.
31-39 Elamang Avenue, Kirribilli $950 PW
Spectacular Waterfront Apartment
Positioned right on the waters edge at Careening Cove this renovated
3 bedroom, 2 bathroom unit is one of a kind. Kitchen opens
up to a sun filled lounge room with floor to ceiling glass to capture
the picturesque water views. Main bathroom is equipped with
separate bath and shower & second bedroom with built-ins. Also
includes internal laundry & lock-up garage.
1-5 Albany Street, St Leonards-$450PW
Fully Furnished Studio/1Bedroom
Spacious studio/one bedroom apartment in the popular Trinity
Building with sleek modern kitchen and bathroom, separate bedroom
area, built ins, internal laundry and balcony.
Close to transport and Crows Nest cafes and shops.
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Current Leasing
143 Kurraba Road, Neutral Bay - $350PW
Waterfront Studio Apartment
This quaint waterfront building looks out over the tree tops of
Neutral Bay and Kurraba Point Reserve.
The Unit has Built in Robes and timber floors, with pool and Garden
access. Close to public transport and the Sydney Ferry
Wharf.
55 Harbour Street, Mosman - $460PW
Modern and Stylish
Located in the heart of Mosman, this one bedroom unit is now
available. This unit boasts a balcony and an internal laundry, and
comes fully furnished. Easy access to the shopping centre and
public transport.
2 Dind Street, Milsons Point - $580PW
One Bedroom Dream Apartment
An elegant and luxury spacious 1 bedroom unfurnished with security
car parking space for rent.
This apartment has a fantastic view of the Lavender Cove. Great
recreations within the development for your enjoyment include an
indoor pool, gym and sauna.
8 Hardie Street, Neutral Bay - $450PW
Stylish and modern one bedroom unit
Fully furnished, north facing one bedroom unit with stylish interior design
& modern furniture.
The unit features an internal laundry, parking space & balcony with
district views.
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Our offices
Head Office in Sydney
Port Jackson Tower
38 Alfred Street,
Milsons Point, NSW 2061
Phone: (612) 9956 6500
Fax: (612) 9956 6522
Hong Kong Branch
Suite 1905 Lippo Centre
Tower 2, 89 Queensway,
Admiralty Hong Kong
Phone: (852) 2918 8788
Fax: (852) 2918 9808
Our Team
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Useful Resources
Tower & London
http://www.towerlondon.com
Department of Fair Trading
http://www.fairtrading.nsw.gov.au/
P: 9895 0111 F: 9895 0222
Consumer, Trader & Tenancy Tribunal
http://www.fairtrading.nsw.gov.au/cttt.html
P: 1300 135 399 F: 1300 135 247
Real Estate Institute of NSW
http://www.reinsw.com.au/
P: 9264 2343 F: 9267 9190
NSW Department of Lands
http://www.lands.nsw.gov.au/
P: 9228 6666
Office of State Revenue
http://www.osr.nsw.gov.au/
P: 1300 139 816 F: 1300 363 806
Reserve Bank of Australia
http://www.rba.gov.au
Real Estate.com.au
http://www.realestate.com.au/
Domain.com.au
http://www.domain.com.au/
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