Annual Property Review 2017

nicolez

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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