What about Harbour One Melbourne?

[Tony3008]

Im just curious... how is docklands from a living perspective... especially without kids.

I guess I can be classed a middle-aged single guy and I love living in Docklands - came here two years ago from the UK and have never regretted my choice of home.

My own view is that from a residence pov anywhere around Bourke Street (West) is the best place to be - shops, Safeway, doctor, pharmacy etc all within walking distance, and you've got SX on your doorstep as well as the Collins Street and Harbour Esplanade trams. And the heart of the CBD is walkable too.

TonyB

 

[qprjames]

putting capital gains/investment aspects aside.

Im just curious...

how is docklands from a living perspective... especially without kids.

I rented here for 12 months. Its much cooler than in other cbd/southbank areas which is great in the summer, but not very nice in the winter. It seems much quieter and more peaceful than southbank but just feels a little 'empty' in places.

I rented in the nolan. great views. but be careful in that block as there are quite a few short stay apartments.

better value for money than southbank. i ended up buying in southbank and whilst i love that area, i would always be interested in moving back to docklands as i can get more bang for my buck there. also i feel city road is going to become a car park with the amount of apartments going up along it.

& be careful....dock 5 apparently has problems with their air conditioner units, and vic harbour apartments bear the full brunt of the afternoon sun, which would be terrible if you want to live there long term.

and just be wary where you buy into, and the vacant block next door will quite easily become the next new development (and therefore constant noise for the next 1-2 years).

good luck......

 

[Casserole Dish]

Our IP still ticking along nicely... I'm still happy with Docklands

 

[CaptainObvious]

hi everyone

i am just curious

as a general rule which is better for docklands?

properties on the lorimer st side or the bourke st side or the Caravel Lane side?

to me I see no benefits being on the lorimer st side

 

[Wunderbar]

How about not buying there in the first place? That would be the 'general rule' lol

 

[The Y-man]

hi everyone

i am just curious

as a general rule which is better for docklands?

properties on the lorimer st side or the bourke st side or the Caravel Lane side?

to me I see no benefits being on the lorimer st side

I personally prefer the lorimer waterfront side - although it is a bit further to services, it's really the only place in the doclkands that faces the water AND is north facing. I assume that's why Mirvac chose the location, and that is why the apartments there seem to cost more.

The Y-man

p.s. I guess the north side of Bourke would also fulfill these conditions...

 

[Wunderbar]

Wind Tunnel. No Car parking. Narrow main roads. No entry into the heart of the CBD. Wind Tunnel. No good food. Wind Tunnel. Did I mention Wind Tunnel?

 

[Melbournian]

Negative aspects of docklands
1. transport
2. Bloody high owners corp fees
3. More expensive compared to surrounding suburbs like south melbourne, st kilda rd and CBD
4. Capital Growth is limited (i feel) unless you get the million dollar ones and renovate it up.

Positives
1. Good views
2. A prestige 'factor' associated with living there
3. Good Feng shui (with the water etc)
4. Quieter than CBD or other areas - for owner occupiers.
5. No matter how many ppl bag that area - people still buy there and it had more sales compared to the surrounding areas last month.

If you go for the bourke st - it is more accessible if you need to go to the city but personally i would go for siddley street - it's right next to the yarra river. Again everyone to his own on where they would like to stay

 

[Wunderbar]

How is living there prestigious? Prestige is living in Kew, Hawthorn, East Melbourne etc - not Docklands rofl

 

[Melbournian]

Obviously we're comparing apples with apples, apartments around the area CBD not toorak where yeah it is prestigious.

I personally feel docklands is more prestigious compared to living in carlton some CBD areas southbank etc. In Asian culture especially chinese - living near water is considered extremely good feng shui as opposed to a buzy street. In some areas of CBD - there are lots of crims, as in beggars etc - which you do not see in docklands. in the mind of a rich person - he would not want to deal with all that stuff. east melbourne - if you try to market it overseas - some people haven't even heard abt it.

 

[zed_kid]

I have a few questions for the Docklands investors.

- What are the yields like? I see Docklands as a sought after location for Yuppies and other CBDers
- Is it hard to find a tenant?
- Do the body corp fees kill the yield?
- Is a 2 bedder a better investment then a 1 bedder? Eg. In Dubai there’s not much difference between 1 and 2 bedders in rent.
- What does the future hold? I used to go there heaps circa 2005 and found it very uncomfortable getting around in a car, parking etc.

Cheers

 

[Melbournian]

i haven't bought in docklands before but i've been to a lot of inspections etc and looked around the buildings etc.

Body corporates are very expensive like 2 bedders can be around 5-7K a year.

You're better off buying in south melbourne or southbank which is probably 50K cheaper than in docklands.

 

[CaptainObvious]

Negative aspects of docklands
1. transport
2. Bloody high owners corp fees
3. More expensive compared to surrounding suburbs like south melbourne, st kilda rd and CBD
4. Capital Growth is limited (i feel) unless you get the million dollar ones and renovate it up.

Positives
1. Good views
2. A prestige 'factor' associated with living there
3. Good Feng shui (with the water etc)
4. Quieter than CBD or other areas - for owner occupiers.
5. No matter how many ppl bag that area - people still buy there and it had more sales compared to the surrounding areas last month.

If you go for the bourke st - it is more accessible if you need to go to the city but personally i would go for siddley street - it's right next to the yarra river. Again everyone to his own on where they would like to stay

seriously???? siddley st!

for me personallly, if I am going to live in this suburb, its gotta have good views, or there is no point in paying the extra for it , if the view is of a nothr wall in front of you,

and hence a quick price comparison appears to me (im a complete novice) tha any property on siddley st is far cheaper,

also, i thought that the lorimer st you wouldn;t get fireworks or the views even though there is water in front of you , the width is so narrow all you get is a river (which essentially it is ) but if you buy on the caravel or the bourke st one, pretty much the whole view is water water water except for the shops/building on the other side

 

[qprjames]

I woudnt trust MAB for starters. they seem to have fooled most investors there with their promotional material that the site would be right on the water, but in actual fact, you'll be doing well to get an apartment there with a decent view of the water. You should get down to the site to check it out in person.

Some one mentioned renting in the area is fine, and i totally agree with that, although it does become something of a ghost town come winter time. but in the middle of the city, sometimes thats a good thing!

good for the short term...i woudnt bother in the long term.

 

[Melbournian]

seriously???? siddley st!

for me personallly, if I am going to live in this suburb, its gotta have good views, or there is no point in paying the extra for it , if the view is of a nothr wall in front of you,

and hence a quick price comparison appears to me (im a complete novice) tha any property on siddley st is far cheaper,

also, i thought that the lorimer st you wouldn;t get fireworks or the views even though there is water in front of you , the width is so narrow all you get is a river (which essentially it is ) but if you buy on the caravel or the bourke st one, pretty much the whole view is water water water except for the shops/building on the other side

60 siddley st.. has got views. if you are familiar with the area. it looks across the yarra river. Like i mention - everyone to his own. Well - the building sells well and is close to many amenities. it's just across DFO as well and a short walk to Crown Casino. Again - everyone has their own preferences for entertainment.

Views are not necessarily the key factor for apartment dwellers. Size of the apartment and locality and various factors account for this. Some people prefer a lower ground with a good size. My experience is that size takes priority over views.

 

[dotworx]

I personally prefer the lorimer waterfront side - although it is a bit further to services, it's really the only place in the doclkands that faces the water AND is north facing. I assume that's why Mirvac chose the location, and that is why the apartments there seem to cost more.

The Y-man

p.s. I guess the north side of Bourke would also fulfill these conditions...

Personally I think Dock 5 (in Victoria Harbour) is the best apartment building in Docklands. But I agree with Y-man that Lorimer St, aka, Yarra's Edge is a better spot in Docklands.

Comparing to Victoria Harbour, Lorimer St waterfront apartments are:
- in a much more residential area. The area feels a lot more relaxed, quiet and exclusive.You don't have blocks and blocks of huge office buildings. Although you are a bit further away from supermarkets, post office and etc but still within easily reachable walking distance, and walk to Flinders & Collins St trams
- you get fantastic view of Melbourne CBD

Comparing to Caravel Lane (New Quay) apartments, Lorimer St waterfront apartments:
- north facing
- much higher rates of owner occupying
- much less short stayers (there is Mecure Grand serviced aprtments in Caravel Lane buildings)
- much quieter

However if you want to enjoy fireworks from your balcony once a year, Bourk St or Caravel Lane are better spots.

This is one awesome apartment i'd like to have but can't afford...lol
http://www.realestate.com.au/property-apartment-vic-docklands-107007464

 

[Melbournian]

agree - that is one awesome apartment with an awesome price too

 

[CaptainObvious]

This is one awesome apartment i'd like to have but can't afford...lol
http://www.realestate.com.au/property-apartment-vic-docklands-107007464

this is completely my opinion, but i don't think that apartment is very nice at all, yes its nice, but for 2.5 million!, I would have thought on paper it would be worth 1.3-$1.6million at the most,

I have a question, the above quoted one or this one?

http://www.domain.com.au/Property/For-Sale/Apartment/VIC/Docklands/?adid=2008796747&eb=192146

and why, ill reveal the asking price shortly, but I wanted opinions before I reveal it just to get a neutral response (obviously you can call the agent and ask him the price so its no big secret!)

 

[Melbournian]

if both prices were the same obviously this one would be better. the double storey one.

 

[dotworx]

I have a few questions for the Docklands investors.

- What are the yields like? I see Docklands as a sought after location for Yuppies and other CBDers
- Is it hard to find a tenant?
- Do the body corp fees kill the yield?
- Is a 2 bedder a better investment then a 1 bedder? Eg. In Dubai there’s not much difference between 1 and 2 bedders in rent.
- What does the future hold? I used to go there heaps circa 2005 and found it very uncomfortable getting around in a car, parking etc.

Cheers

The BC is expensive indeed but the rent is also pretty good. I've never had my IP on Lorimer St vacant for more than 3 days, and rent has gone up by 30% since 08', so am pretty happy with it.

1 bedder and 2 bedder differ from both rent and sale price, but I think either one could potentially be good investment, just make sure there is car park and some scarcity factors associated, e.g. a smaller block with waterview and close to amenities.

Also there are buildings in Docklands that you should be extra cautious with such as the ones on Waterview Walk: so many years after its completion, there are still quite a few unsold units and are currently leased out by the developer.