Approx 8 km North of Melbourne's CBD by hjkuiw354

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									Approx 8 km North of Melbourne’s CBD
Coburg is one of the Victorian Government’s designated
Activity Centres set for major redevelopment as part of
the Melbourne 2030 metropolitan Strategy
Melbourne Tops Nation in Growth; Biggest Population
Surge Since the 1980’s
Melbourne is experiencing its biggest growth surge…with its
population now increasing by almost 1,000 a week…
Front page
The Age
Wednesday 28th Feb 2007




“We see the markets
generally as being
fantastic over the next 10
years, due entirely to
population growth…
We’re on the doorstep
now of the strongest
decade that we can
imagine”

Scott Keck
Managing Director
Charter Keck Cramer Property Valuers and
Consultants
Australian Financial Review, 15th January 2007
CONTENTS


executive summary
overview
location
coburg
significant investment & renewal
booming residential market
media
investment potential
EXECUTIVE SUMMARY



project name



developer              Valad Property
                          -   together with its joint venture partner The Aberdeen
                              Group

what’s on offer        259 Apartments with 9 studio apartments, 81 one bedroom
                       apartments & 169 two bedroom apartments with either one or
                       two bathrooms & a car space for every unit

distance from CBD      Approximately 8 kms north


address                Pentridge Piazza, Coburg, Victoria


architect              Rothe Lowman: Award Winning medium sized practice
                       www.rothelowman.com.au


building composition   - Cutting edge contemporary architecture not seen before in
                       Coburg
                       - Standing 18 stories high & set to become the landmark of the
                       north
                       - Composed of two sections connected by the three car parking
                       levels & internal walkways
                       - All apartments come with an included car park & there are 242
                       bike racks
price range                 Studios from $210,000
                            One bedrooms from $255,000
                            Two-bedroom from $315,000

anticipated rental          1 bedroom $270 – $310 per week
                            2 bedroom $310 - $350 per week
                            2 bedrooms, 2 bath + study $380 – $420 per week

key features                       strong location within 8 kms of the city
                                   not yet offered to the market
                                   environmentally sustainable design
                                   considerable stamp duty savings
                                   significant depreciation allowances

property management         TBA closer to completion


estimated completion date   2010


deposit requirement         10% of purchase price with nothing further to pay until
                            completion

interest on cash deposits   Interest incurred on the 10% cash deposit shall accrue for the
                            benefit of the purchasers & shall be paid at settlement

deposit bonds               Acceptable
OVERVIEW


In2money is delighted to offer AIR in this pre-market release.


AIR will sit in the south eastern most point of Valad’s Pentridge master planned community in
Coburg. Set within a 4,600 metre unique parcel of land & surrounded by the historic bluestone walls
of Pentridge, the finished building will offer unrestricted & spectacular views in a southerly direction
to the CBD, the Dandenongs in the east & across Merri Creek & its associated parklands to the north.


AIR apartments will have their official street address on Pentridge Boulevard, a new public road that
will connect Sydney Road & Bell Street. Set for completion in early October 2010, Pentridge
Boulevard will place AIR residents within two minutes walk to the city bound trams of Sydney road &
within a 30 second drive to Bell Street & its link to the eastern suburbs & CityLink a four minute drive
to the west. Once at the entrance to CityLink you are free to choose to drive to Docklands, the CBD
& beyond.




LOCATION
Coburg is located approximately 8km north of Melbourne’s CBD, presiding in the City of Moreland
bounded by the well known suburbs of Pascoe Vale to the west, Brunswick to the south & Preston &
Thornbury to the east & Fawkner to the north.


Coburg is one of Melbourne’s most well known suburbs renowned for its village like atmosphere. The
main commercial hub is the precinct between Coburg railway station & Sydney Road. The strip
comprises of approximately 250 shops including a small indoor market & several supermarkets along
with a vast array of retail outlets to service the suburb’s day to day needs. Coburg is one of the
Victorian Government’s designated Activity Centres set for major redevelopment as part of the
Melbourne 2030 Metropolitan Strategy.


The suburb is serviced exclusively by public transport including trains, trams & buses. In fact, Coburg
residents are one of the lowest car users in Melbourne. Major arterials such as the Tullamarine
freeway, CityLink & the Western ring road are all within close proximity to the suburb allowing
commuters uninterrupted access to Melbourne’s north, south east & west.
Coburg is also known for its cultural diversity with a third of its residence from overseas origin. This is
supported by a diverse array of multicultural dining & retail amenity available within the local
community.


There are also an abundance of educational facilities within Coburg including several primary & high
schools. Some of Melbourne’s most prestigious universities are all within a short stroll, tram or train
ride from the heart of Coburg including The University of Melbourne, Royal Melbourne Institute of
Technology & Monash University.
                                                                   Seen from the outside, AIR is the
                                                                   tallest & most striking building in
                                                                   Coburg destined to become a major
                                                                   landmark of the north for years to
                                                                   come. But what’s also clear is that it
                                                                   is also environmentally conscious.


                                                                   To ensure AIR treads lightly on the
                                                                   planet, you’ll find green building
                                                                   principles incorporated throughout
                                                                   the apartments.


                                                                   Crowning the building’s summit,
                                                                   AIR’s futuristic wind turbines make
                                                                   both a powerful architectural &
                                                                   environmental statement,
                                                                   generating electricity for the
                                                                   common areas.


                                                                   Each apartment includes recycled
rainwater for flushing, water efficient tapware, energy efficient appliances & low voltage downlights.
Thermal chimneys induce cross flow ventilation for the apartments. On the windows, double glazing
& glazing coefficients reduce summer heat gain & winter heat loss. An advanced solar boosted gas hot
water system also helps reduce the buildings carbon footprint.


It’s nice to know AIR’s beauty is more than skin deep, delivering the kind of feel good factor that our
planet so deserves.




COBURG – EXPERIENCING SIGNIFICANT INVESTMENT & RENEWAL
Over the next decade, Coburg is set to undergo extensive urban renewal after Moreland City Council
confirmed the release of 12 hectares of state & council owned land within central Coburg. Known as
the Coburg initiative, a number of the country’s largest developers have submitted expressions of
interest to undertake the redevelopment.
The Coburg initiative is estimated to include over $1 billion worth of investment & will include a
revamp of the Coburg town centre & railway station, as well as the construction of 1,500 new
dwellings & 65,000 square metres of additional retail & commercial floor space. The initiative has
been created in order to promote Coburg as a principal activity centre in the state government’s
Melbourne 2030 plan which sets out a plan for sustainable growth in the metropolis.


A BOOMING RESIDENTIAL MARKET
The announcement of Moreland city council’s redevelopment plans for Coburg coupled with a
general demographic towards inner city living has spurred property prices in Coburg to burgeon. Over
the past decade the Coburg median house price has increased by an astonishing 237% from $153,500
to $517,500. More recently, in the year to March 2008, the median house price increased by a
staggering 32.7%. Due to the same premise, apartment prices have also risen dramatically in Coburg
recording a total growth of 230.5% over the past decade from $118,000 to $390,000.


Strategic planning coupled with Coburg’s rich history & enormous investment being injected into the
suburb will result in a total rejuvenation of an elderly buzzing suburb. Consequently the increased
amenity & infrastructure will be able to support & stimulate an increasing demand for residential
property as Coburg continues to become one of the most vibrant suburbs in Melbourne.


BRW HOT PROPERTY
BRW / July 31 – September 3, 2008
Identified as a hot spot by Terry Ryder.
“Coburg, in the northern suburbs & Footscray, in the west, have good prospects because they are
close to the CBD & are reasonably cheap after being overlooked in the past price cycle.”


“Melbourne’s overall got very good prospects because its got the strongest population growth of any
city in Australia, mainly because of overseas migration.”


“BIS Shrapnel’s Angie Zigomanis says that Melbourne is ‘more of a steady as she goes kind of story.
Affordability is not too strapped, but it’s not necessarily undervalued either”


Terry Ryder
INVESTMENT POTENTIAL


(a) Capital growth


The late 1990s ushered in a five year boom that saw house prices double in most parts of Melbourne.
The median house value increased from $140,000 in 1998 to $375,000 by the end of 2003.
                                                                median
Coburg’s current median price is well above Melbourne’s overall median value of $430,000 and it is
     placed
well-placed to take full advantage of the cyclical upturn which Melbourne has now entered.




According to the latest census data (2006) Coburg has a total population of 23,722 increasing by 1.3%
                          rthermore
from the previous year. Furthermore population is forecast to increase to approximately 29,655 people
by 2021. This equates to a total population increase of 21.9%. Over this same period the average
                                                                               persons per
household size is forecast to decrease from 2.55 persons per household to 2.41 pers
household.


(b) Vacancy & rental rates
Over the past year Melbourne has experienced a 25 year low in vacancy rates that for inner Melbourne
                              08).
(0-10 km) stands at 0.9% (Apr-08). Record population growth has been the main driver of these
unprecedented lows which indicate the strong demand for rental properties within inner Melbourne.
                                                                   significant
Critically low vacancy rates of recent times are expected to place significant upward pressure on rental
rates over the short to medium term. Since 2000, the median rental rate in Coburg for a two bedroom
apartment has increased by over 66% & over the last quarter alone rents have increased from $230 to
$250 per week.


(c) Outlook
Having already begun a journey of gentrification, Coburg along with a number of Melbourne’s inner
northern suburbs is undergoing a period of renewal, backed by Moreland City Council, the State
Government & some of Australia’s largest developers. Strategic planning for increased amenity &
infrastructure will stimulate & support an increasing demand for residential property as Coburg
continues to attract families drawn by the diverse array of amenities & strong community values as
well as a new generation of professional couples & individuals working in the CBD & Melbourne’s
north. Furthermore, with rental rates expected to increase significantly over the short to medium term
coupled with significant capital improvements in the area through the Coburg Initiative, Coburg is set
to relish its newly found status.

								
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