Melbourne, Melbourne, australia
Luxury Apartment Homes Spencer Street

  Property ID: 525

M/CHA
This new development on the popular Spencer Street in Melbourne offers 592 fully furnished luxury apartments. The residents of this 41 floor tower will enjoy city views and premium facilities, including an indoor pool, sauna and gymnasium
Key selling points:

Low deposit of just 10%
Balance payable on settlement
High capital appreciation
Excellent location
Premium facilities
Stamp duty savings
Full description:



Shimmering majestically opposite the brand new $700 million AUD Southern Cross Station train interchange and retail plaza, this 41 level luxury apartment block will provide an exciting environment from which to work or live. Its chic, angular plane elegantly splits the azure of Melbourne’s skyline. From this vantage point, future residents will enjoy stunning views of the bustling city of Melbourne, neighbouring Albert Lake and Port Phillip Bay.

The new development of Neo200 on Spencer Street offers 592 fully furnished luxury apartments, 70% of which have already sold. There are one and two bedroom apartments as well as six three bedroom penthouses on the 41st floor (of which four remain as at 17th Jan 2006). These are selling for $349,000 - $980,000 AUD.

This investment requires a small initial deposit of just 10% with the remaining balance payable on settlement. Located next to the Central Business District (CBD), capital growth in the area has boasted 10.66% over the last year; rental yields have averaged 5.30% over the last decade.

Neo200 offers a range of beautiful apartments all sensitively furnished to accommodate individual tastes. Intelligent design of exteriors and foyers creates interest, depth and warmth. Inside the units, a natural aesthetic lends a sense of integrity to the overall layout with the possibility of merging adjacent rooms through glass sliding doors. Private balconies bring airflow and natural light while neutral colours and ambient lighting inspire a sophisticated mood. This sense of quality and style is rounded off with a range of sleek interior finishes such as chrome, stainless steel, glass and stone. Each unit will be ready for cable TV and broadband to be installed.

Residents can take advantage of the many luxury facilities Neo200 offers including:

A 12 metre indoor swimming pool
Changing rooms, showers & a sauna
A fully equipped gymnasium
A lounge and terrace balcony with barbeque
A function room with kitchenette
Three full size lifts on every floor
Mail boxes on ground floor
A waste disposal area on each floor
Swipe card security entry to the foyer and cark park
A video intercom system
The development is due to be completed by the middle of 2008.

Local area attractions

Melbourne is the capital city of the southern state of Victoria and the second largest city in Australia after Sydney. It is known as “Australia’s garden city” and with an abundance of parks and green spaces throughout the metropolis, this reputation is well deserved. Melbourne is vibrant and cosmopolitan with a flourishing arts scene and a lively passion for eating, drinking and sport. In 2004 it was named the world's most liveable city by the London-based Economist Intelligence Unit.

Melbourne is a mecca for Australian sports fans. It is the home of Australian Rules football which is still the most popular sport in Victoria. It also hosts the Australian Open tennis tournament (one of the four international Grand Slam tournaments around the world), the Melbourne Cup Horse Race and the Australian Grand Prix Formula One championship. In 2006 Melbourne will host the Commonwealth Games for the first time.

The cultural life of Melbourne is rich and varied. It has made significant contributions to international popular culture with the likes of Dame Edna Everage, the soap opera Neighbours and pop acts such as Kylie Minogue and Crowded House. But Melbourne can also cut the mustard when it comes to high arts and is the home of the Australian Ballet, the Melbourne Symphony Orchestra and an impressive raft of prestigious arts festivals. The National Gallery of Victoria has arguably the best collection of visual art in Australia and the city is home to the largest number of surviving Victorian era buildings of any city in the world other than London.

Alongside Spencer Street is the beautiful Albert Park where locals take time out to fish, enjoy a round of golf or even go sailing on the lake. Spencer Street is also conveniently situated for shopping and urban amenities with major retail centres just around the corner including many exclusive boutiques.

Other local attractions include:

The Telstra Dome – a major stadium in Melbourne’s docklands regularly hosting concerts and sports events with a capacity of 74,000.
Southbank – a suburb alongside the Yarra River popular for with locals and tourists alike for its mix of dining, shopping and recreational facilities. Most notable amongst these are the Southgate Precinct, the Crown Casino and the Victorian Arts Centre which houses the State Theatre and Hamer Hall.
Docklands waterfront – encompassing the marina wharf where the jet set preen their super yachts and a selection of alfresco entertainment.
For more information on the city of Melbourne and its attractions, please follow the links below:

http://www.melbourne.vic.gov.au/info.cfm?top=23&pg=966
http://www.melbournephotos.net/
http://www.travelvictoria.com.au/melbourne/
http://www.walkingmelbourne.com/
http://www.arts.monash.edu.au/ncas/multimedia/gazetteer/list/melbournecity.html
Travel

By Bus
• Like most modern cities, Melbourne has a fully integrated public transport system with almost 300 bus routes.

By Tram
• It has one of the world's most extensive tram networks
• Getting into central Melbourne for work or play is easy via trams running along the arterial St Kilda Road

By Train
• Melbourne’s rail network has over 15 lines
• Australian train timetables can be found at www.cityrail.com.au
• For more information on Melbourne’s public transport please visit http://www.melbtrip.com/

By Air
• British Airways and Qantas Airways operate regular direct flights between London and Melbourne/Sydney. The flight time is approximately 21 hours.
• Flights from all other European cities, including Paris, Barcelona and Berlin will be indirect as the above airways are the only ones that fly directly to Australia from Europe.
• For direct flight timetables please refer to the following sites: British Airways Qantas Airways

Market information

The Australian Economy
Economists often refer to Australia as the “farm of the world” due to its abundance of agricultural products and natural raw materials. As the domestic market for these goods is relatively small, they form the bulk of Australia’s exports; whilst only constituting 8% of GDP, agricultural and mining sectors make up 65% of exports. Domestically, it is the service sector that dominates accounting for 68% of GDP. Although in nominal terms, per capita GDP is lower in Australia than the UK, France and Germany, in real terms living standards are higher due to lower costs of living.

The Australian economy has not suffered a recession since that of the early 1990s. As of September 2005, unemployment has fallen to 5.0 per cent the lowest level since the late 1970s. The price of shares listed on the Australian Stock Exchange has also grown significantly since the early 1990s. The economy is currently stable with interest rates relatively flat.

In recent years, the Australian government has been focusing on the development of the tourism, education and technology markets.

The City of Melbourne
Melbourne is a large commercial and industrial centre where many of Australia’s largest companies and multinational corporations are headquartered. It is also home to Australia’s largest seaport and much of its automotive industry in addition to many other manufacturing sectors.

With a population of 3.8 million (2006 estimate) in the Melbourne metropolitan area and 69,670 in the city of Melbourne (which covers only the central city area), Melbourne is Australia’s second largest city. It has recently undergone a major urban revival such that it is sometimes classed as being in the second tier of world cities. It now has one of the highest numbers of international students studying in its universities after London, New York City and Paris.

As a result of Australia’s immigration policy the population in all major areas is increasing at unprecedented rates putting huge pressure on house prices. This is particularly true for the South-East which is the most popular area with immigrants and overseas investors.

At present, massive levels of investment are going into developing Melbourne’s infrastructure ahead of the 2006 Commonwealth Games which are to be held in the city. The centrepiece of this is the redevelopment project for the MCG, the stadium set for the opening and closing ceremonies of the games. At a cost of $434 million AUD the project involves reconstructing the old Olympic and Ponsford stands.

Another major project is the $ 700 million AUD Southern Cross Station redevelopment just opposite the Neo200 site. This incorporate a $350 million AUD world-class transport interchange facility with another $350 AUD million set aside for office accommodation, residential towers, a hotel and a retail plaza. This project is due to be completed in early 2006 before the start of the games.

In 2006, Melbourne will also play host to the summit of the G20 Finance Ministers.

Spencer Street
Spencer Street is opposite the new Southern Cross Station redevelopment, very close to Melbourne’s Central Business District and also convenient for central Melbourne’s retail heart and cultural attractions.

Investment justification

Towering majestically over the skyline, Neo200 is a stylish luxury development offering great views and excellent access to all Melbourne’s main tourist and retail attractions. This makes it ideal to capture both the tourist and business markets and with its proximity to the Central Business District (CBD), the potential for capital growth is strong. Generally speaking the closer a property is to a CBD the higher the historical rate of capital growth, even if the apartment is relatively small. Capital growth around Melbourne’s CBD has boasted 10.66% over the last year with rental yields averaging 5.30% over the decade.

With a relatively stable economy, interest rates relatively flat and solid incomes growth bolstered by high levels of employment, the Australian property market is showing signs of picking up. This is being helped by the Australian government’s current campaign to boost its tourist market. South-Eastern Australia remains the most popular destination for both migrants and foreign investment with Melbourne and Sydney being the main targets.

The Neo200 development requires purchasers to put down a low initial deposit of just 10%; the balance is not payable until completion of the project in 2008. Contracts are fully assignable and there are no legal fees to pay if a panel solicitor is used. Buyers will also benefit from significant Stamp Duty reductions which in the State of Victoria can be reduced by as much as 90% if purchasing "off-the-plan". Generally, smaller residential properties such as these involve lower maintenance costs, are easier to let and provide a greater potential rate of return than larger properties.

Melbourne hosted the 2006 Commonwealth Games and investors will benefit from new investments in the area. This is particularly so of this Spencer Street development which stands directly opposite the new $ 700 million AUD Southern Cross Station redevelopment.

70% of the 592 units within Neo200 have already been sold as of 10th July 2006.



3 br, 2 ba, 0 gr

Property Status: Available	Ref: 525
Melbourne, Melbourne, Melbourne Luxury Apartment	slide show 1 2 3
3 bedrooms Apartment/Flat/Studio £156,922	View on map Enquire About this Property Add To Basket Send to a Friend
This new development on the popular Spencer Street in Melbourne offers 592 fully furnished luxury apartments. The residents of this 41 floor tower will enjoy city views and premium facilities, including an indoor pool, sauna and gymnasium.

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