Fitzroy is a top location in Melbourne, well regarded locally, less than 2kms to the CBD. Surrounded by an abundance of amenity and commercial districts. Fitzroy is very much like the Surry Hills (Sydney) of Melbourne. In Surry Hills new 2 bedroom properties are $1.5m but in 2010 were only $700,000. At that time they were renting for $600 per week and now they rent for $1,100pw! This particular location gets a 99% “walkscore”, which means the location cant get any better (https://www.walkscore.com/score/365-smith-st-fitzroy-vic-australia). Current vacancy rate just 0.8%, one of the lowest in Australia i.e. no properties to rent. Strong tenancy demand relating to above average yields of 4.5% gross or more, minimal vacancy holding costs for investors. Ideal demographic; high income earners and a lot of “double income, no kids” (DINKS), ideal unit market. Smith St is referred to as the Food & Beverage heart of Melbourne.
Boutique complex of just 38 apartments on top of a boutique super market i.e. Woolworths Metro (already committed and part of contract). Now only 28 properties remaining for sale.
. 1, 2 & 3 bedroom options available
. Restricted location in terms of supply due to heritage and planning constraints
. High-end finishes, attractive in the future to local home owner buyers
. Well regarded and experienced local developer (http://www.angelogroup.com.au/projects/)
. Pricing is $1,000/sqm or up to 10% below neighbouring projects, developer has priced to sell, this shows some potential equity upon completion for buyers.
. 1 bed, 1 bath, 1 car space units from $525,000 (52sqm internal + 9sqm balcony)
. 2 bed, 1 bath, 1 car space units from $679,000 (67sqm internal + 8sqm balcony)
. 2 bed, 2 bath, 1 car space units from $745,000 (80sqm internal + 8sqm balcony)
. Just 1 x 3 bed, 2 bath, 2 car unit for $1,395,000 (113sqm internal + 70sqm external), views back to the city
COMPLETION END OF 2020. Contact us for further info and a full investment overview.
- 2 bed
- 2 bath