2010 June


Commanding views


June 2010

Tower & London



Tower & London


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


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.



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


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.



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



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



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



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



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



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



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



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


Minutes walk from St Leonards train station & Crows Nest shopping


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


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.



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


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




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.


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


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.



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



Useful Resources

Tower & London


Department of Fair Trading


P: 9895 0111 F: 9895 0222

Consumer, Trader & Tenancy Tribunal


P: 1300 135 399 F: 1300 135 247

Real Estate Institute of NSW


P: 9264 2343 F: 9267 9190

NSW Department of Lands


P: 9228 6666

Office of State Revenue


P: 1300 139 816 F: 1300 363 806

Reserve Bank of Australia


Real Estate.com.au





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