hi, i just went to visit the display suite for the new Upper West Side apartment development in Melbourne. Its located on the corner of Spencer st and Lonsdale st. I'm not sure if any of you guys are familiar with it but the development will consist of 4 towers, each around 30-40 storeys high. The development will have its own private gardens for residents as well as its own alleyways consisting of shopping/cafes. The main views for the apartments will be of Etihad stadium and the Docklands.
The apartment i was looking at was $579 for a corner apartment with views out to Spencer and Lonsdale st. It consists of 2 bedrooms, 2 bathrooms and 1 carspace.
The whole development looks pretty nice but are apartments in Melbourne CBD are good investment? Can i expect much capital growth from an apartment like this? what are the vacancy rates for apartments in the CBD at the moment?
I read that Docklands apartments were underperforming a few years ago. Is that still the case now considering the Docklands area seems to have improved with many businesses having their Head offices there now as well as the redevelopment of Spencer st station with its shopping centre etc.
Thanks for all your help.
The apartment i was looking at was $579 for a corner apartment with views out to Spencer and Lonsdale st. It consists of 2 bedrooms, 2 bathrooms and 1 carspace.
The whole development looks pretty nice but are apartments in Melbourne CBD are good investment? Can i expect much capital growth from an apartment like this? what are the vacancy rates for apartments in the CBD at the moment?
I read that Docklands apartments were underperforming a few years ago. Is that still the case now considering the Docklands area seems to have improved with many businesses having their Head offices there now as well as the redevelopment of Spencer st station with its shopping centre etc.
Thanks for all your help.