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Ph (03) 9600 1111
Fax (03) 9278 8830
Level 9, 365 Queen St
Melbourne, Vic 3000
Australia
Southbank Central
Inspect at
191 CityRoad Southbank
Melway: 1D M6
Mon - Sat, 10am to 5pm
Sundays 12 to 5pm |
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News & Editorials
Every week Central Equity writes a number
of news editorials which appear in Melbourne newspapers. This weeks article is posted below.
Click here
to access our archive of news editorials
30/03/01
"A one
stop shop for inner city apartments"
The 'Renaissance' of Melbourne inner city living commenced early in
the 1990's. Melbourne company Central Equity who led this revival
quickly realised the need to provide management services for the previously
unheard of "Inner city lifestyle developments" that they were pioneering
around inner Melbourne. Central Equity realised that it's client relationship
needed to continue beyond the handover of its apartments, particularly
as they often included on site recreational facilities such as indoor
pool, gym, garden courtyard and undercover resident carparks. With
this in mind it established a wholly owned subsidiary known as Melbourne
Inner City Management to provide the necessary expert services.
Central Equity's could now provide through Melbourne Inner City Management,
which today manages Melbourne's largest portfolio of inner city residential
apartments. Melbourne Inner City Management operates through its strategically
placed network of offices located in Southbank, St. Kilda Road, Spring
Street and Queen Street, offering a seven day a week service. Two
further offices will open soon at the western end of Southbank and
in South Melbourne. Melbourne Inner City Management also provides
exclusive resales services for Central Equity clients.
Melbourne Inner City management reports that in booming Southbank,
where Central Equity has completed approximately 70% of the total
residential development, is currently very buoyant, with strong rental
and sales demand. Southbank being recently reported as one of Melbourne's
residential hot spots and has the highest proportion of high-income
earners in town. You only have to look through the carparks of a Central
Equity development to see the prestige cars to understand the type
of residents that live in Southbank.
Southbank's attraction is the convenient location to the Melbourne
business centre, world class theatre, arts, shopping, dining, entertainment,
sporting venues, the Botanical Gardens, Albert Park Lake and the Yarra
River. It is no wonder that Southbank has experienced an unprecedented
growth in popularity. With a population of about 2500, the area has
become one of Melbourne's fastest growing suburbs with a population
increase of 2750% since 1991. This dramatic growth is from a very
low base and in terms of Melbourne's total population is a very small
exclusive residential pocket. Southbank is also a very defined precinct,
'a golden triangle,' with limited opportunity for development being
bound to the north by the Yarra River, Crown Entertainment and Southgate
Entertainment precincts to the West by Kingsway, to the East by St.
Kilda Road and gardens linked by Dorcas Street to Kingsway. Therefore
once the small number of remaining sites have been developed the renaissance
of Southbank will be complete.
Melbourne Inner City Management reports that prices are moving on
Southbank with consistent excellent resale results being recorded
for original "off-the-plan" Central Equity purchasers, with recent
sales achieving significant returns for both long and short term investors.
An apartment in Kavanagh Street, Southbank, bought off-the-plan just
over a year ago, recently sold for 27% above the purchase price. Whilst
nearby in another complex in Wells Street, a recently completed Central
Equity project, resold showing an increase of 20% over the original
purchase price. As well as good capital growth, Southbank apartments
have shown strong rental growth providing solid returns for investors.
Melbourne Inner City Management's occupancy rate for Southbank apartments
runs at around 99% compared with the Melbourne average range between
90-96.5%, with rental returns and growth consistently outperforming
other real estate investment options. Not surprisingly as Southbank
is now recognised as Melbourne's and possibly Australia's leading
arts, leisure and residential precinct.
Melbourne Inner City Management's key to achieving these results is
the company's focus and in depth market knowledge. Statistics on sales
data show that the exclusive Sales Division of Melbourne Inner City
Management operating for Central Equity clients has time and time
again achieved better results for owners than any other company. This
is achieved by offering a specialist service through its inner city
office network providing:
- an experienced team of staff who only work on the sale of inner
city apartments so they fully understand the market.
- detailed knowledge of Central Equity properties in their design,
construction and operation providing purchasers with detailed and
accurate information.
- the best professional advice on the most appropriate method of sale
for individual properties, for example, rarely is the auction method,
favoured by many agents, effective for the sale of inner city apartments.
- access to market appraisal data providing up to date sales information
for all properties; important in a constantly changing market.
- extensive marketing networks with leadership experience in successful
and cost effective marketing strategies.
- knowing how to negotiate the best price. The combination of a network
of offices, experienced staff, qualified and well located product,
and specialised service makes Melbourne Inner City Management the
market leader for inner city real estate.
Phone (7 Days) (03) 9670 0222 or visit: www.micm.com.au .
Click
here
for the archive of Central Equity editorials
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14/02/01
10/02/01
2/02/01
6/01/01
23/12/00
16/12/00
9/12/00
25/11/00
18/11/00
11/11/00
4/11/00
28/10/00
13/10/00
13/10/00
6/10/00
7/07/00
23/06/00
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 for other articles please visit our archive.
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About
Central Equity