Financial Year Review – The Conder

 

The Conder – 2 Newquay Promenade, Docklands

Welcome to your first Financial Review from JC Street. This week, Julie will focus on one of her very favourite developments – The Conder at Docklands.

The Conder, the fifth residential tower at NewQuay and comprising 200 apartments, sits proudly at the head of the NewQuay Promenade.

Named after the renowned Australian artist Charles Conder, the Conder forms a point of contrast to the earlier stages in its architectural presentation and style. The curved shape and predominant glass façade the building has been designed to maximize the views from the apartments to Victoria Harbour, the Bay and the magnificent city aspect.

The 4 level podium and 16 level tower feature a range of individual apartments and sizes and based on the curved nature of the development all apartments are slightly different as a result of the changing view.

Resident’s facilities including an indoor pool and gym are provided on the landscaped podium roof. The ground floor continues the vibrant 24 hour city NewQuay theme with a range of different and exciting in the restaurants and retail outlets facing onto the harbour and forming the eastern frontage to the new art plaza linking the Conder and the Sant’Elia..  

2 Newquay Promenade, Docklands

Top Sale in Financial Year 09: 1002/2 Newquay Promenade $930,000

Bottom Sale in Financial Year 09: 1605/2 Newquay Promenade $398,500

Number of Apartment Transactions in Docklands: 197

Number of Auctions in Docklands: 27

Number of Auctions Sold in Docklands: 27

Average Sale Price in Docklands: $608,970

Sales for 2009:

1602/2 Newquay Promenade $836,000 Two bedrooms

1605/2 Newquay Promenade $398,500 One bedroom

506/2 Newquay Promenade $540,000 Two bedrooms

108/2 Newquay Promenade undisclosed One bedroom

606/2 Newquay Promenade $645,000 Two bedrooms

113/2 Newquay Promenade undisclosed Two bedrooms

507/2 Newquay Promenade undisclosed Three bedrooms

807/2 Newquay Promenade $818,000 Three bedrooms

1002/2 Newquay Promenade $930,000 Two bedrooms

604/2 Newquay Promenade $700,000 Two bedrooms

316/2 Newquay Promenade undisclosed

407/2 Newquay Promenade $900,000 Three bedrooms

2003/2 Newquay Promenade undisclosed One bedroom

607/2 Newquay Promenade $850,000 Three bedrooms

Rentals for 2009:

1405/2 Newquay Promenade $570 per week 1 bedroom

1501/2 Newquay Promenade $2500 per week 3 bedroom

1505/2 Newquay Promenade $410 per week 1 bedroom

909/2 Newquay Promenade $500 per week 2 bedroom

308/2 Newquay Promenade $750 per week 2 bedrooms

1104/2 Newquay Promenade $720 per week 2 bedrooms

215/2 Newquay Promenade $500 per week 1 bedroom

803/2 Newquay Promenade $600 per week 2 bedroom

2002/2 Newquay Promenade $595 per week 2 bedroom

601/2 Newquay Promenade $850 per week 2 bedrooms

504/2 Newquay Promenade $560 per week 2 bedrooms

116/2 Newquay Promenade $390 per week 1 bedroom

1705/2 Newquay Promenade $350 per week 1 bedroom

1804/2 Newquay Promenade $850 per week 2 bedrooms

1009/2 Newquay Promenade undisclosed 1 bedroom

1203/2 Newquay Promenade $870 per week 2 bedrooms

1603/2 Newquay Promenade $410 per week 1 bedroom

316/2 Newquay Promenade $550 per week 1 bedroom

116/2 Newquay Promenade $400 per week 1 bedroom

1905/2 Newquay Promenade $550 per week 1 bedroom

2002/2 Newquay Promenade $650 per week 2 bedrooms

Body Corporate: The body corporate for this building is Teys. They are a large body corporate management firm who manage several buildings in the Docklands precinct.

Facilities: The development has a great sense of community which is encouraged by the facilities of pool and swanky gym as well as sauna, bbq area and common outdoor area.

There is also a thriving retail element at Docklands, which provides great convenience and appeals to many of the owners and tenants in the block. Restaurants such as Live Bait, Berth and Mecca Bah have a cult following, as does the new super-supermarket Costco. A new shopping precinct featuring many well loved stores and the impending addition of Myer add to desire for leasing accommodation who work at Docklands. There is great parking facilities onsite for visitors, and wonderful proximity to Etihad Stadium. Employers such as NAB and ANZ have also moved their sizable workforces to the Docklands precinct, making growth from the corporate sector a sure thing.

Demographics: Since original settlement, we have seen the slow but steady shift of higher occupancy rates by owners. Most purchasers at the Nolan are young professionals who work locally in the CBD. There are a few more mature owners or families from the country who utilise their apartment as a ‘lock up and leave’ second home. There are investors also who lease privately or through serviced apartment arrangements.

Click here for in depth information on the history of Docklands.

Year of Build: 2003

Developer: MAB Corporation

Number of Apartments in Block: Approximately 200

Construction Nearby Underway: The Southern Star Skywheel is in construction, and will likely mimic a London Eye style tourist attraction. VicUrban are currently constructing a development named Convesso Concavo.

Forecast for the 2010-2011 Financial Year: We invisage that continuing first home owner interest and buying power will keep the market buoyant in Docklands for the first half of 2010. Dependant on bank interest rates, we could experience a flattening of the market in 2010 in the plus $500,000 sector. Mum and Dad investors could well make a comeback in 2010 once first home owners lose their puff and buying power. The Conder offers a unique buying opportunity in a blue chip neighbourhood which should cushion it from too many market fluctuations.

For further information on this, or any other property needs you may have, please contact:

Julie Street

m) 0414 627 830

e) julie@jcstreetrealestate.com.au

Welcome to Streetblog

 

Welcome to the debut of J.C. Street Real Estate to the world of the blog. StreetBlog.

We hope that this forum proves a trustworthy and reliable tool for you to stay up to date with  premium quality properties in Melbourne, and the market as its moods shift and change.

We will endeavour to provide a range of different kinds of information about properties we specialize in – such as the Docklands , as well as opinion pieces on new areas to invest in, or the best way to wade through the property labyrinth that is Melbourne.

If you want to see specific information or research provided to this blog, please do send an email to iolanthe@jcstreetrealestate.com.au, who will be certain it becomes available.

Thanks again for your support. We remember always that Your Happiness is Our Future

Cheryle & Julie Street

Directors

J.C. Street Real Estate

cheryle@jcstreetrealestate.com.au

julie@jcstreetrealestate.com.au

ph: 9600 4988