AUD 137,450 | Melbourne, Knox | 1 Bedroom

DETAILS

2 Year Rent Guarantee at 8% 







Dorset Road is an exclusive Architectural designed 3 level, 29 apartment building with secure basement car park to be constructed in the Melbourne suburb of Boronia.



This is an superb buy to let investment found in a centralised location within the City of Knox, Melbourne.

The project offers you the investor a chance to purchase a modern apartment below market value in an area of strong rental demand.

Rents currently being achieved in Knox are currently around 8%, with this value set to rise upon completion.

The developers offer investors an 8% guaranteed rental return for the first two years that ensures a cashflow positive investment based on a 75% loan to value mortgage.







The City of Knox has one of Melbourne’s fastest growing economies and is projected to grow by a third in the next ten years. Added to this that the area and shopping centre is under plan for renovation, these apartments look set to gain substantial capital appreciation.   



With only 25% down and your deposit spread across 10 months. you can leverage your capital immediately achieving 18 months worth of capital appreciation on your property. Upon completion, your 8% two year rental return also enables a further two years worth of income growth with the added security and cash flow of a positive second income stream.



This is a fantastic addition to any buy to let portfolio and offers you the chance to invest in a booming market with only a 25% deposit, split over 10 months. Therefore, with very little money down you stand to make great capital return on investment, positive rental returns and satisfaction of owning a fantastic second home in a major city, yet just approximately a 20 minute drive to the beach.







Located just 3 miles from Eastlink, bringing the coastal and beach areas of Melbourne and the Mornington peninsular white sandy beaches within easy reach.

Boronia is nestled in the foothills of the beautiful Dandenong mountain ranges and most the apartments will have mountain views.

The City of Knox has one of Melbourne’s fastest growing economies and is projected to grow by a third in the next ten years.

Boronia train station and bus depot are both located within 250m of the site and the town shopping centre is a one minute walk.



Boronia has regular trains into Melbourne with a journey time of only 40 minutes.







All apartments are high specification, large two bedroom units (96sq metres) and comes equipped with a state of the art security system, kitchen with appliances, stainless steel finishings and a private garden area with barbeque facilities.



Development Features



·         Rental Guarantee for 2 years at 8%


Large Apartments up to 123 Square Metres
Located in the Prestigeous City of Melbourne, Victoria, Australia
Small Exclusive Development of only 29 Luxury Apartments
Large Communal Rooftop Terrace with Barbeque Area
Prices up to 20% less than comparable property in area
2 bedroom luxury accommodation with Terraces Included
·         Secure Under Ground Allocated Parking Space

·         Developer is established with over 2,000 properties built


25% deposit required (approx £36,000) - paid over 12 months!
75% LTV mortgages available (subject to status)
Build time approx 18 months (completion expected Middle to Late 2010)
Stable property market with high growth expectations
Full Equipped kitchens
Stainless Steel Appliances Included
Location




Only 20 Minutes Drive to the Beach
Less Than 10 Minutes Drive to Golf
Only 3 miles from the main Eastlink connection road.
Eastlink Freeway connects to Beaches in 20 Minutes
Excellent transport links to Melbourne and surrounding areas
Train Station only 250 metres from development
Bus station only 250 metres from development
Melbourne city only 40 minutes by train
Investment In Melbourne Article by Jack Henderson, Melbourne director of Metropole Property Investment Strategists

Melbourne’s property markets performed strongly over the last year supported by a solid economy and an increasing number of international migrants. Its median property value increasing by almost 18%,. Further high migration levels will maintain Melbourne’s population growth and underpin its property markets in the year ahead.



Melbourne’s market could be fairly described as booming and is currently performing very well.

The more highly sought after and affluent suburbs as well as those close to the water showed strong increases in value. Many increased by over 20% and some had an increase in their median price of over 30%. People buying in these suburbs were basing their decisions more on lifestyle choices than financial factors



 “It’s not only the owner occupiers - we are seeing strong investment interest in the inner suburbs and south eastern suburbs from smart investors who are back in the market” said Jack Henderson, Melbourne director of Metropole Property Investment Strategists “They seem to see the long term opportunity the market now offers and realize that vacancies are low, rents are rising and their yields will increase."

“Overall, Melbourne presents a safe opportunity for property investors” said Henderson. “We have strong population growth; the state’s economy is solid and now is a good time to take advantage of the opportunities presented by Melbourne’s strong property market. But not all properties will perform well. I suggest investors look for suburbs that have a long history of strong capital growth and then look for properties in those suburbs to which they can add value. “Vacancy rates in Melbourne are at a 25 year low with a critical shortage of rental properties in some suburbs” explained Pamela Yardney, director of Metropole Property Management.

“One and two bedroom apartments are experiencing acute levels of demand by tenants who are queuing up to lease available rental properties pushing up rentals. Strong tenant demand and a severe undersupply of rental properties should see some rents increasing by up to 10% in the next year” said Yardney.



Beautiful Coastline of the Mornington Peninsula

Coast Of Melbourne Mornington Peninsula

The beautiful white sandy beach areas of Melbourne and the Mornington peninsular are just a 20 minute drive along the main Eastlink motorway, which in turn, is only a 3 mile drive from Boronia.

This makes this development a great combination of an Investment and holiday home, which can be used to explore this popular area of Australia.  



The easy coastal route to the Mornington Peninsula can take you all the way down to Portsea at the southwestern end of the peninsula.

Victoria's Mornington Peninsula curves southward and westward from the state capital, Melbourne, along the eastern coast of Port Phillip Bay.

It is a region of fine beaches, holiday homes, vineyards and wineries, and a variety of other attractions. Mornington Peninsula is one of the two wine regions closest to Melbourne, the other being the Yarra Valley in the east-northeast.



The main attractions in the coastal area are water activities which include kayaking, diving, snorkeling, swimming with seals and dolphins, and horseback riding on the beaches and inland trails.

Worth a visit is Peninsula Hot Springs at Rye where hot mineral waters flow from underground into pools and private baths.



National park

Mornington Peninsula National Park extends along the coast from Portsea to Flinders on the southeastern end of the peninsula and is a great place to visit with spectacular and panoramic views.



Payment Schedule



Only £3,000 reservation to hold a property

5% Deposit (Minus £3,000) paid at the end of the month following:

Further 5% paid 1st of the Month, 2 months later.

Further 5% paid 1st of the Month, 2 months later.   

Further 5% paid 1st of the Month, 2 months later.

Further 5% paid 1st of the Month, 2 months later.

Total reservation is 25% of the purchase price spread up to 10 months, with remainder on completion by finance, subject to status.


Any information in this web site, has been supplied by the developer and is believed to be correct at this time but can be subject to change. All Prices of property are secured in the local currency of the country of purchase and represented in pounds as an approximate equivalent exchange rate.All present exchange rates will be applicable at the time of purchase.  All prices, contracts and details should be confirmed directly with the developer and lawyer at time of purchase.Please note that we do not  enter into any form of contract via this medium, nor is our staff authorised to do so on our behalf. You may also refer to our full terms and conditions on our website.