ANNUAL
PROPERTY
REVIEW
2017
TOWER & LONDON
138 Walker Street, North Sydney NSW 2060
Ph: +61 2 8904 1318
Fax: +61 2 8904 1306
Email: reception@towerlondon.com
www.towerlondon.com
TOWER & LONDON
ANNUAL PROPERTY REVIEW
FY 2016-2017
A yearly publication published by Tower & London
show casing its portfolio of properties and a property
market review of the respective year.
*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 Ltd 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.
OUR STORY
John Tower founded Tower & London in May 1993 with the aim of providing
property owners and investors with quality services, sound advice and an honest
approach to all business. The first office was in a small premises in Milsons Point
and within three years it expanded to a much larger premises at Port Jackson
Tower; the second office was in St Leonards, a third in North Sydney and fourth in
Hong Kong. Since 2008, with the weight of managing four offices, a decision was
made to gradually sell or merge these businesses; and by September 2014 this was
achieved; after 21 years from the inception of the business.
Tower & London is now located in a brand new office centrally located at North
Sydney; more specialised and in a smaller scale than before; offering the same
quality of property services. John Tower has returned to pass his knowledge and
experience of 30 years in the property industry to his clients.
Tower & London offers property management, leasing, valuations, refurbishments
and sales of residential and commercial premises.
The first point of contact is John Tower: 0408 216 979; john@towerlondon.com
INTRODUCTION
Welcome to the Annual Property Review 2017, this being our first issue since the opening of
our North Sydney office in the Belvedere. The main article is The Effect of the New Light Rail
to Residential Property Values which explores how light rail affected values in various cities in
North America; and other articles, we hope you’ll find interesting.
This magazine is produced mainly for our clients and prospective clients; as its main message
is to provide information about the current performance of properties in this area by listing
some of the sales and leasing activity Tower & London undertook during this first year in this
new premise.
My aim as the Principal of Tower & London is to pace the growth of the company in such a
way that it does not impede the quality of service that Tower & London is renowned for. My
firm belief is that maintaining and improving the quality of the service to our clients far
outweighs an accelerated growth. We have built a small team in training and with good
experience, together share my philosophy of total dedication to the best interest of the client;
and hard work in an efficient and fair manner. The harmony, confidence and respect between
individual team members is what shines.
Our first approach was to lease an office premise; but within the first year, the opportunity
arose to purchase the premise: we did, ensuring security of tenure for the long-term; and as
North Sydney has entered into a new development phase, we’ll be here providing property
services for owners and tenants alike for the coming decades.
Tower & London are unlike any other Real Estate Agency, because the breadth of our services
are unmatched: apart from the typical agency services such as Sale and Property Management;
we are registered Property Valuers; and, we design and manage refurbishment projects, mainly
apartments that need upgrading and adding more amenities or redesigning them so that they
become more acceptable to today’s tenants and modern standards.
I hope you’ll enjoy browsing through this magazine, and we look forward to good business in
2018.
John Tower
Managing Director
L.R.E.A
Licensed Valuer
CONTENTS
Property Review 1
International Property 5
Sydney Map 7
Sale Properties 8
Rental Properties 19
Property Services 25
Meet the Team 27
PROPERTY REVIEW
By John Tower
The Effect of the New Light Rail on North Sydney Residential Property Values
North Sydney has been well serviced by various tram and rail systems from as early as 1886, when a double track cable
tramway was built from Milsons Point Ferry Wharf, where the North pylon of the Harbour Bridge is now, extending via Alfred
Street and through Blue Street and then Miller Street, eventually reaching St Leonards. Coincidently, the new Chatswood to
Sydenham light rail system tunnel is under Miller Street, and the new Victoria Cross Station’s main entrance will be located on
Miller Street, on the Corner of Berry Street.
Construction of the Chatswood to Sydenham component of Sydney Metro is
underway comprising 15.5km metro line, starting at Chatswood through Crows
Nest to North Sydney, under Sydney harbour, through Sydney CBD and then
out to Sydenham. The new Victoria Cross Station is part of a major
development of a prominent site on Miller Street, where many commercial
buildings have just been demolished making way for the project in the heart of
North Sydney CBD and the new residential precinct. The new system will be
operational by 2024.
Simultaneously, North Sydney is undergoing major changes, as residential
property values have increased over the past five years: low to medium rise
commercial strata and freehold buildings; largely built in the 1960-70s have
become viable development sites. They are being amalgamated and
redeveloped into mixed use high-rise complexes with a large component of
residential apartments. North Sydney Council continues to develop plans to
rezone more parts of north Berry Street into residential uses. No longer will
North Sydney be deserted on the weekends.
Property values in all of Sydney have increased over the past five years, in some
areas more than other; the lower North Shore has had a particularly large
increase in values.
Fig. 1 - Old North Sydney Trams
Source: Brady, I (1958)
Fig. 2 - Artist Impression of New Victoria Cross Station
Source: NSW Government (2017)
Fig. 3 - New Victoria Cross Station Site
Source: NSW Government (2017)
North Sydney has become more popular again, not only because
of the surge in demand but also because the new apartment
buildings are changing the external environment; public transport
is good and it is set to become much better with the new light rail
system going the length of the city. This article explores the
impact this new light rail system will have on values of existing
and proposed residential properties in North Sydney.
Studies in US cities where repeat sales of data were used before and after the construction of light rail systems, whereas
otherwise prices would have been stable, had increased by about 4% on the average home price for properties located within
about a kilometre from the station of METRO Blue Line in Minneapolis (Clemens, Pilgram and West 2018). The results
from a study of the effect of Mass Transit Line in Brisbane show between 8.7% to 10.8% increase in property values depending
on distance from the CBD; and in particular, the results show that apartment residents have a natural preference for public
transport. (Hale 2008)
Value increases are not only beneficial to property owners but also to the government institutions who provide the
infrastructure systems. Land Value Capture (LVC) is a method of calculating value premiums on properties created by the
provision of public services such a transit system; this can be treated as an investment with financial returns through increased
land values and recouped through increase of tax revenue on property; moreover, taxes on increased economic activity.
(Dziauddin, Powe and Alvanides 2014)
The studies above point to an increase of between 4% to about 10% in various cities; and although this does not appear to be
significant when we have had such a boom in property values, particularly in the lower North Shore, the point is that this is an
addition to the natural increase in values. This is independent to market value fluctuations. How much will property values in
North Sydney rise by the effect of the new Light rail system is not certain; albeit, this article suggests that values will increase,
and probably already have somewhat since the announcement of the light rail system.
North Sydney Residential Property Review
North Sydney is fast becoming a very attractive residential destination; in 2017 North Sydney houses recorded the 2 nd highest increase
of values: up 36.5% from previous year; apartments were also near the top, in fifth position, at 31.4% increase in values over the year.
(CoreLogic, 2017).
Towards the end of 2017 the average Sydney property prices were
generally subdued after many years of strong growth; by the end of
November property prices were -1.3% lower than in August; a transition
from growth to depreciation of values; what is not clear is the sustainability
of this change.
The Reserve Bank is repeatedly harping on the high level of household
debt; and lending institutions are worried about the equity to debt
positions on their books. The financing of property has, along with other
levers such as stamp duty increases for foreign investors, been the main
factor attributed to the beginning of this transition period. A number of
changes took place during the year with regards to property financing,
these are:
1. Lending to residential property investors has been tightened as more
equity was required by banks at higher interest charges.
2. Interest only loans were restricted and; at higher interest charges.
3. Lending to foreigners was curtailed.
4. Lending to Australian citizens with overseas income was curtailed.
5. Some lending institutions restricted lending to high-rise apartment
blocks.
Fig. 4 - Moving Annual Median House Prices
Source: REINSW (2017)
Fig. 5 - Moving Annual Median Unit and Townhouse Price
Source: REINSW (2017)
Although the Reserve Bank, throughout 2017, was reluctant to increase the base interest rate: rates increased, the banks did
implement some of the above mentioned changes to their lending policies.
Supply and Demand in North Sydney Area
North Sydney and the immediate localities to the north up to St
Leonards and the south of McMahons Point are going through an
unprecedented presidential property construction boom. From
small apartment blocks to large high-rise multi-building complexes
built by locals and the new entrants such as the Chinese and
Singaporean development companies.
Prices paid by property investors off the plan for tiny apartments in
high-rise developments, particularly along the Pacific Highway
were astonishing; at times, more than $20,000 per square meter.
Foreign investors fuelled the market and locals competed with
them, borrowing large amounts against values that could, at any
time, come undone and wipe out their equity if not more.
Fig. 6 - North Sydney Residential Apartments
Source: Meriton Apartments (2018)
During 2018 and 2019, many of these developments will be
completed; and predictably, the number and the size of these
projects will start to decrease as the values stabilize, or indeed,
adjust.
The new supply of apartments on this market will substantially be filled, putting some downward pressure on rental yields and
increases in vacancy factors across the Lower North Shore.
On the demand side; although some buyers have been dislodged from the market because of the lending policies and many have
already entered the market; buyers’ confidence remains positive despite the headlines about the boom coming to an end: those who
can still purchase a property are doing so, but more cautiously than they were a year ago.
First home buyers are in the increase; State Government grants are attracting them to the lower priced properties, such as one
bedroom apartments in the Crows Nest area and surrounding. This trend will probably continue throughout 2018.
Generally most owners in the mind of selling their existing property are holding back to catch the top of the market before selling.
The question remains, have we not already reached the top of the market for this cycle?
INTERNATIONAL PROPERTY
By John Tower
Buying a Holiday Apartment in Italy is Exciting but it Comes with Exertion
Fig. 7 - Lake Laguna, Switzerland
Source: Lake Laguna Homes (2017)
I am a keen cyclist; and Europe is the most enjoyable destination for
many passionate cyclists. Italy, in my view, is the pinnacle, because
it’s not just the sport itself, it has more to do with tradition,
architecture, music, food and the beautiful climbs. I travel to Europe
almost every year, mostly to Italy. About five years ago, a cycling tour
took me to Como, Lake Como. I was with an organised tour; we
were making our way across northern Italy after spending some time
in the majestic mountains called the Dolomites. We stopped for a
couple of days of cycling around Lake Como and Lake Lugano in
Switzerland.
I was in the leading car; and by the time the rest of the crew arrived,
I had already made an appointment with a local Real Estate Agent to
view an apartment overlooking the lake, I immediately loved the
place. Imagine, a sparkling blue lake, two or three times wider the
Sydney Harbour and possibly ten times longer, surrounded by
quaint villages that barely blemish the bottom end of epic mountains
longer, surrounded by quaint villages that barely blemish the bottom end of epic mountains with snow covered peaks.
The first apartment I viewed had two bedrooms, situated on the lake shore in an old castle, it was facing North: not a good aspect in
the Northern Hemisphere; it also needed extensive renovations, priced at about AU$900,000; after Stamp Duty and renovation
expenses it would have easily reached $1.2million. Still, compared to Sydney prices, it was relatively inexpensive.
The next year, I returned to Como with a mission to purchase an apartment: I did, in a popular locality named Cernobbio situated
three kilometres north along Como lake from the historic town of Como. Cernobbio has two hills overlooking it: narrow roads with
frightening switch backs lead you through beautiful villas, the odd church in a Piazza with busy restaurants, bakeries and gelati shops.
Just above Piazza St Marco: a block of five apartments was under the last stage of construction on a sloping block facing south with
views to Como city, the lake and the surrounding mountains to the west towards Switzerland.
Fig. 8 - View from Towerhill
Source: Tower. J (2015)
Typical in this region, new apartments are of two bedrooms and one
bathroom; this block at street level has two of them, and from the
courtyard a circular stair case, Harry Siedler style, led to a landing at
the top floor apartment, a sprawling open space covering two
apartments below, with three balconies and high vaulted roof line
with exposed timber beams and skylights. There were no walls but
piping for water heated underfloor system was exposed, timber
trusses, and plumbing rough-ins in the bathrooms and kitchen
predetermined positions. The space, the views and the style of this
property stunned me.
Needless to say, I purchased the property; the Stamp Duty for foreigners is 10% of the purchase price, 4% for locals. The property
does not come completed as they do here in Australia; kitchen and bathroom fit-out is not included nor are built-in wardrobes,
lighting and air-conditioning. The developer had suggested a floor plan. I had to employ a local interior Architect to design the
interior and work with the builder to complete the internal layout, then fit the apartment with the rest at the owners’ cost.
For the property enthusiast: the interior architects in Italy have a combined showroom and design practise under one roof; one can
design and fit the apartment with fixtures and fittings all with one designer, selecting colours and materials and envisaging the concept;
then the designer will have the furniture custom made for the property.
The region between Milan and Como is famous for its artisan furniture makers: these were farming areas; and in winter, the farmers
made furniture, for extra income; the furniture sold very well; and as time went they became better at it, until the income from
furniture making surpassed the farming income; sheds were converted to factories and now some of Italy’s best furniture is made in
this region. Custom made furniture to the highest of quality is at hand and not terribly expensive.
Despite, the agonising experience in the process of purchasing the apartment and the following work to get it completed, I think, the
effort has been well worth it. The Euro has substantially appreciated since the purchase, and property values have started to recover in
the regions that were badly affected by the general sluggishness of the Eurozone countries since the financial crises of 2008. I intend
on keeping this one for a very long time.
SAMPLE SALE
PROPERTIES
1. 21 Dumbarton Street, McMahons Point
2. 20 Wonga Rd, Cremorne
3. 43 Treatts Rd, Lindfield
4. 801/138 Walker Street, North Sydney
5. 103/138 Walker Street, North Sydney
6. 1003/138 Walker St, North Sydney
7. 1205/138 Walker St, North Sydney
8. 1/104 Bay Rd, Waverton
9. E513/3 Carlton St, Chippendale
1 21 Dumbarton Street,
McMahons Point
A Contemporary Home with Commanding Views Over
Berrys Bay
A fine example of modern practical architecture; carefully sculptured into
an elevated site taking full advantage of the width and the breadth of the
land; sand stone and concrete bordered by frameless glass form the
façade of this solid home. Sydney Architect Mark S. Pulham: crafted a
free standing building with three meticulously appointed levels with tall
ceilings, natural light from all directions and wide expansive views.
4 3 2
Situated of the east side of Dumbarton Street is this fine home built on a rectangular block of prime
land on the east side of Dumbarton Street, having a frontage of 8.3m and 27m depth; an area of
approximately 270sqm. The topography is of an elevated block starting at street level and gradually
rising all along the side boundaries; thus enabling the architect to sculpture the sandstone foundation
to fit a wide and generous building of three levels utilising the whole width of the land.
1
20 Wonga Rd, Cremorne
Exceptional Waterfront Living
This luxurious home spans over 600m 2
featuring the finest
calibre of fixtures and finishes. Set right at the water’s edge, the
residence enjoys one of the Lower North Shore’s most
admired settings, gazing north across Middle Harbour to the
Northbridge Golf Course and the surrounding bushland. A
dream home for anyone.
4 3 2
2
43 Treatts Rd, Lindfield
Classic Federation Family Home
This beautiful home is perfectly positioned over
920m 2
of level land, taking full advantage of
northernly aspect in a quiet location on the east
side. Intact with all the period details, adorned
with complementary fittings and state of the art
contemporary updates.
5 3 2
4
801/138 Walker Street, North Sydney
Northeast Aspect in the Beautiful
Belvedere
This apartment is positioned in the perfect corner of the
building, enjoying sweeping harbour and district views,
winter sun and cool summer breezes. This property has
an area of 115sqm including balconies; two double
bedrooms, the main with balcony, two good bathrooms
and a delightful kitchen with a study nook. Two parking
spaces in tandem and separate storage room, adding
another 30sqm on title.
2 2 2
5
103/138 Walker Street,
North Sydney
Large Studio with a Balcony and Storage
Situated in the popular “Belvedere”, this building is one
of the finest in North Sydney with rooftop gym and
swimming pool; as the bedroom area is not totally
enclosed; hence, this studio is larger than many one
bedroom units. East facing with a tree top outlook and
with small common property area separating it from the
front of the street front. NBN connected, GoGet cars in
the building and pet friendly. A dream property for
tenant and owners alike.
Studio 1
6
1003/138 Walker St,
North Sydney
Beautiful Views from the Belvedere
This one bedroom apartment is located on the 10th
floor facing east, capturing the changing colours of
sunrises over Sydney harbour. The bedroom is open
style with a built in wardrobe; contemporary style
kitchen opens onto the living room then spilling onto
the enclosed balcony which could be used as a
wonderful study. 3m storage facility elsewhere in the
building. Not to be missed.
1 1
7
1205/138 Walker St, North Sydney
The Belvedere at its best
This contemporary iconic building was developed by
Architects, which is evident by the design of this
superb two bedroom apartment on the east side of
the building. High up on the corner of the 12th floor,
taking distant harbour views wrapped by an extensive
front-to-side balcony. Abundance of natural light,
only defused by the extensive window dressing
throughout. Two modern bathrooms, a fully
equipped kitchen, laundry and ample internal
storage, secure parking space and storage area.
2 2 1
8 1/104 Bay Rd, Waverton
A Quiet Location in the Heart of
Waverton with City Views
This well maintained building is almost hidden amongst
the gum trees: set well back from Bay Road yet near the
train station. Just a few steps up at the end of the private
walkway from Bay Road leading to the building, is this
well designed three bedroom apartment with timber
floors throughout and quality fittings. The apartment has
two bathrooms and a good balcony with distant harbour
bridge views and city lights. A good size parking bay in a
secure area.
3 2 1
9
E513/3 Carlton St, Chippendale Dual Key Apartment with Two
Courtyards and Parking in Central
Park
This is a truly impressive property in the most
sought after Central Park multi award winning
concept of integrated living; with beauty, vibrancy,
fashion shops and delectable restaurants; a vertical
green oasis in the heart of the Sydney’s new
downtown, opposite UTS. These two apartments
are in the prime building, on one title having a
combined area of 126sqm plus 16sqm of parking
and storage.
2 2 1
SAMPLE RENTAL
PROPERTIES
1. 1805/211-223 Pacific Hwy, North Sydney
2. 2802/77 Berry St, North Sydney
3. 1801/138 Walker St, North Sydney
4. 1109/138 Walker St, North Sydney
5. 308/138 Walker St, North Sydney
6. 56/171 Walker Street, North Sydney
7. 506/245 Pacific Highway, North Sydney
8. 4/95A Ridge St, North Sydney
9. 96/237 Miller Street, North Sydney
10. 102/38 Alfred St, Milsons Point
11. 1801/30 Glen Street, Milsons Point
12. 13/187 West St, Crows Nest
13. 14/187 West St, Crows Nest
14. 1505/241 Oxford Street, Bondi Junction
15. E5131/3 Carlton St, Chippendale
High in the Skye
1805/211--223 Pacific Hwy,
North Sydney
1
This apartment is offered unfurnised at $750
per week or furnished at $800 per week. On
the 18th floor facing north-east is this lovely
historic buildings and vast vista of the beautiful
Lower North Shore. Two bedrooms, the
smaller one can be used as a study or guest
room, private balcony, superb bathroom, and
the most chef friendly kitchen.
2 2 1
2802/77 Berry St, North Sydney
2
Views from Every Window
High above just about everything else in North
Sydney is this fabulous apartment with
panoramic views spanning from Chatswood
across to the distant blue mountains and back
to the city and the harbour. Two good
bedrooms and two bathrooms; timber floors in
the living areas and a spotless kitchen. Modern
high-rise building with superb facilities; parking
for one car.
2 2 1
1801/138 Walker St, North Sydney
Living in an Ivory Tower
This apartment is a home for those accustomed
to the first class living. Situated on the 18th
floor, this modern apartment with captivating
sunrise-to-sunset views from both bedrooms
and the fully equipped kitchen. It is ideal for a
growing family as there is a delightful café at its
doorstep and it is close to the transports, shops
and a selection of premier schools.
3
2 2 1
4 1109/138 Walker St, North Sydney
The Beautiful Belvedere
This near new two bedroom apartment is of
clever design, filled with light and good space.
Quietly positioned yet in the heart of North
Sydney. Both bedrooms with built-ins, the
main with an ensuite. The Belvedere is a
delightful building with roof top swimming and
gym facilities; this apartment comes with
security parking.
2 2 1
5
308/138 Walker St, North Sydney
Extra Large One Bedroom in the Belvedere
The Belvedere is arguably the best residential
building in North Sydney; suitably located on
the edge of the CBD. Nothing is too far: from
the best of private and public schools to all the
services that one needs; all at the door step.
The property comes with main furniture
items.
1 1
6
56/171 Walker Street
North Sydney
Large Apartment with Stunning Harbour Views
Situated in the Iconic Century Plaza, this
popular Mirvac apartment block occupies a
prominent position in North Sydney; perched
on the fourteenth floor is this three bedroom
apartment, renovated and superbly finished
with stone crafted kitchen, modern bathrooms,
balconies, and large living spaces.
3 2 1
506/245 Pacific Hwy, North Sydney
7
Near New Fabulous Apartment with Enclosed
Balcony
In one of North Sydney’s newest and best
buildings with superb facilities is this open style
one bedroom apartment, with a perfect eastern
orientation, abundant natural light without the
hard westerly sun. Quality built-in wardrobe;
fully equipped kitchen, internal laundry and
timber deck enclosed balcony.
Studio 1
4/95A Ridge St, North Sydney
8
Luxuriously Renovated & Lavishly Furnished
Adorned with artwork and fine furniture; this
three bedroom apartment is a rare quality
offered for lease; all bedrooms have built-ins,
the main with harbour views, two brand new
bathrooms and fully equipped kitchen built
with stone and state-of-the-art fittings, open
dining and living room with generous
proportions.
3 2 2
96/237 Miller St, North Sydney
9
Terrace on Top of the World
This is a calibre of property that is usually
owner occupied; there is no shortage of space
from the instance one enters the property, the
vastness of the living area spilling onto the
terrace becomes apparent. All bedrooms with
northerly balconies. All living areas open to a
massive terrace, similar to a rooftop garden
with flower beds and enormous outdoor
entertainment area.
3 2 2
10
1801/30 Glen St, Milsons Point
A Modern Apartment in a Convenient
Location with Outstanding Facilities and
Expansive Harbour Views
The Collonades is one of the best buildings in
Milsons Point. Apartment 1801 is set high and
away from noise overlooking the tranquil
Lavender Bay and glorious sunsets. Internally
solid wide timber floorboards throughout are
framed by floor to ceiling glass walls.
2 2 1
11
102/38 Alfred St, Milsons Point
Port Jackson Tower with Harbour Glimpses
This tidy and expansive property is situated
near Milsons Point station and opposite the
park. Capturing lovely morning sunshine it
occupies an ideal corner position. Two
balconies, floor to ceiling windows and builtins
in all bedrooms. Port Jackson Tower has
all the good facilities such as an indoor pool;
gym and sauna.
2 2 1
12 13/187 West St, Crows Nest
North Facing, Top Floor Fully Renovated and
Furnished Apartment
Completely redesigned one bedroom
apartment with timber floors throughout, eat-in
and semi open and fully equipped kitchen, a
delightfully fresh bathroom; built ins in the
bedroom and balcony off the living area.
1 1 1
14/187 West St, Crows Nest
13
One Bedder Overlooking a Sea of Trees
Older style yet immaculately presented and
fully furnished in a security three storey
building. Timber floors throughout opening
onto a pleasant balcony hovering above
gardens. The apartment comes complete with
modern easy furniture and electrical
appliances. Well positioned in front of a bus
stop to all major destinations.
2 1 1
Aqua at Bondi Junction
1505/241 Oxford St,
Bondi Junction
14
An inspirational building in the heart of Bondi
Junction, right opposite Westfield shopping
centre. This compact one bedroom apartment
has its living room surrounded by glass
capturing views stretching to the distant ocean;
beautifully crafted kitchen with dining nook;
built ins in the bedroom, internal laundry and
a balcony.
1 1
E5131/3 Carlton St, Chippendale
This is the Life
15
This is a truly impressive property in the most
sought after Central Park multi award winning
concept of integrated living; with beauty,
vibrancy, fashion shops and delectable
restaurants; a vertical green oasis in the heart
of the Sydney’s New Downtown, opposite
UTS. An open plan completely self contained
apartment leads to a private courtyard and one
optional parking space.
Studio 1
PROPERTY SERVICES
RESIDENTIAL AND COMMERCIAL PROPERTY SALES
Every sale is carefully assessed: firstly we establish the value of the property. As licenced property valuers, we are in the position to
provide comprehensive research on the value and apply the appropriate valuation method. This is where accuracy is crucial as the
client will rely on this very important figure.
Then, we ascertain the market segment/s that will be attracted to this property. Buyer segments fall into many categories. We mainly
consider the following: property investors, first-time owners, families upgrading larger properties or older people downsizing. Once we
have established the segment/s, we then recommend a Method of Sale.
Most real estate companies will recommend sales by way of auction. Auctions may well be the best method for a particular property at
a particular time in the cycle. But there are other more subtle ways of selling property; at times, much better methods, attracting
quality buyers and; allowing the negotiation skills of the salesperson to take full effect. Sales by Private Treaty and by way of Tender
are often forgotten, to the detriment of property owners, leading to the downturn of the profession, as these good skills are being lost;
only to be replaced by lazier auction systems, where buyers are attracted by slightly lower expectations, brought to the auction; and
then, its hope or luck, not skill that sells the property.
The submission will also include an individually designed advertising programme; but only until the market segment/s have been
identified and the method of sale has been recommended. The photography, wording and the design of the sales materials are
carefully pointed in the direction of the market segments that the property is likely to attract. This is not a scatter-gun approach; it is
tuned and directed through the main media channels.
The result is always successful; in nearly 24 years of selling property, Tower & London almost always sold every property when taken
through the proper process, despite prevailing market conditions. The main reason for this level of success is the careful market
assessment and good negotiation skills.
PROPERTY VALUATIONS FOR ALL CLASSES OF PROPERTY
Tower & London provide comprehensive valuation services as John Tower is a fully licenced and registered valuer. Our valuations
can be for all reasons; the majority are for tax purposes, or for adding value when improving property. We provide feasibility studies
for developers and to renovators.
PROPERTY MANAGEMENT AND LEASING
In this work we truly excel; Tower & London Management System developed over 24 years of rationalising every aspect of it:
• Leasing: Market rent is ascertained as the first step; then, at our expense, we arrange for professional photographs and advertise
the property. Tower & London is the only agency that has North Sydney Top Spot in Domain.com.au. This is also free to all our
clients. As a result, properties are leased quickly and for the right rent.
• Tenant Selection: We select the best tenants and the most appropriate to the property; our investigation on their backgrounds is
extensive; and then, at least two staff will assess the suitability and refer to the licensee to accept before seeking owners’ approval.
• Repairs: Every repair reported will be inspected by our property manager before a tradesperson is appointed, sometimes, there is
nothing to repair. Every tradesperson we use is licenced and insured; we have had some trades for decades. Honest reliable and
consistent. We keep a close eye on how the tenant is treating the property and ensure the at the tenant pays for damage caused due
to negligence. We also work with Strata Managers if any repair falls in their jurisdiction.
• Maintenance: We insist that the property has landlord insurance; we keep smoke alarms maintained, air conditioners serviced,
vents and fans clean and functional, light fittings and switches are safe and working, plumbing and taps not leaking. Windows and
door safe and secure. As all the matters can be expensive and unsafe to the occupiers if not well maintained.
• Accounting and landlord payments: We collect rent on time; if the rent is not on time, the next day we start a thorough and
consistent follow up, as a result 100% of rent is collected in the first three days. And unlike every other management company, we
pay the landlords at the beginning of the month, not the end of the month; after accounting for all the outgoings.
PROPERTY REFURBISHMENT
Most properties can do with some improvement to reach their highest
and best use, or income. We undertake refurbishment projects that vary
in size and scope. We plan, design, seek approval from strata managers
and authorities, and then administer the work until completion. All this is
done after ascertaining that the proposed work will add value to the
property.
MEET THE TEAM
John Tower
Managing Director
L.R.E.A
Licensed Valuer
Nicole is a licensed real estate agent with over six years of
experience in the real estate industry. She has not only worked in
Sydney but she has the experience of working in Hong Kong and
Shen Zhen for Tower & London. Throughout her career, she has
gained a good reputation and relationship with both her clients and
tenants ensuring the very best leasing experience for them. In her
past time Nicole enjoys the benefits and tranquillity of Yoga classes.
Nicole Zheng
L.R.E.A | Residential Property Manager
The principal and licensee of Tower & London,
John Tower has extensive experience in the property
industry in both Residential and Commercial
capacities. He has spent the past 24 years
concentrating on residential property sales,
predominantly to investors on the North Shore and
among other achievements, managed one of the most
successful real estate agencies: Tower & London.
Along with agency and business management, John is
a practicing registered property valuer; the
fundamental and proven methods of valuation are
applied, arriving an estimated sale price that is as
accurate as possible. There is no guess work
involved, a proper analysis is made and an honest
figure is given to the owner.
Over the years, John has been instrumental in
amalgamating and marketing development sites for
residential and mixed uses; major development sites
in prime regional centres in Sydney have been
successfully sold and redeveloped with his direct
involvement.
A postgraduate degree holder of Macquarie
University in marketing Management, John has the
educational tools to establish market trends,
segmentation, ascertain target markets, position the
property and apply creative advertising and
marketing tools.
John established a charity branch in Australia:
Assyrian Aid Society in 1999, it is the only successful
worldwide organisation that supports the indigenous
people of Iraq.
John is a passionate cyclist and an avid reader.
Tania is a multi-disciplinary individual with master degrees in
property and development as well as construction project
management. Further to this, she has a background in interior design
with a bachelor honours attached to it. Prior to joining the T&L
team, she worked in Singapore for a couple of years as an interior
designer with projects all over Asia. Her design experiences
cultivated her meticulous eye for detail with a solid performance and
a highly dependable support.
Tania Kusmuljadi
Assistant Property Manager & Valuer |Marketing
Tamara is intrigued with the evolving opportunities and lessons the
real estate profession provides. Seeking to explore the industry
firsthand Tamara has entered T&L with an eagerness to gain
knowledge from tenants, owners and her colleagues in order to
understand the key strategies a property manager needs to know in
order to create the best experience for their clients. Prior to 2018,
she undertook a gap year in the United Kingdom, in which she
gained valuable life experiences.
Tamara Carter
Assistant Property Manager
Sophie is a qualified accountant who has been with Tower & London
for nearly a decade; Sophie is accurate, honest and hardworking. Her
passion is to travel and see the world.
Sophie Wang
Company Accountant
OUR OFFICE
TOWER & LONDON
138 Walker Street, North Sydney NSW 2060
Ph: +61 2 8904 1318
Fax: +61 2 8904 1306
Email: reception@towerlondon.com
www.towerlondon.com
Tower & London Pty Ltd
TowerLondon_RealEstate
www.towerlondon.com
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