3002/368 StKilda Road MELBOURNE

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Area distance from CBD
Above average precinct for general area
Within normal walking distance to rail

Concerns

Minimal land content as proportion of price
Possible overcapitalisation meaning higher risk on resale
Touches other properties
Too many on block
Mal James
Mal James
0408 107 988
[email protected]

Comments on 3002/368 StKilda Road MELBOURNE

Firstly 368 St Kilda Road (Royal Domain) is one of the premier blocks that has had regular resales at acceptable price levels in its shorter history. It is not a mixed block - it is a block of quality tenants and owners with good additional facilities, as well as safe, clean and secure car parking and 24hr concierge.

Royal Domain, The Domain, The Melburnian - all have their supporters and detractors but most would agree that any of these towers fall into that select group of where most quality high rise buyers would prefer to be.

Of course for all this you pay a price, both in terms of initial capital investment and ongoing body corporate fees and Royal Domain is no different at $13,000 pa approx (agent stated).

So to the apartment itself. Views: What is your preference? The view from 3302 is about panorama rather than street connection. It is an above average parkland view and due to the size of the apartment also has a secondary sea view panorama from the master bedroom. Size: At 315 sqm plus balcony (70 sqm agent estimate) it's a good sqm size for a spacious three bedroom home - room sizes are good. Orientation or on block position is just about as good as it gets in terms of sunlight and warmth, being on the northern side. Floorplan, flow and quality: Is typical for this style of luxury apartment. All carparking at this level of quality are relatively secure and 3302 has the added bonus of 3 in number and convenience of location - ie rather than a long journey up and down between your park and street level. Storage is fairly typical - being very good.

So the question as it does for most apartments, other than penthouses comes down to price and at $10,000 per sqm you have a guide. From there it should be competition created by other buyer's emotion and your own thoughts that should determine the final result - we do think there will be multiple interest owing to the property, the agent handling it and the method of sale.

This is not a unique apartment but it is nowhere near the common garden variety types either.

Mal James's Comments on 3002/368 StKilda Road MELBOURNE

A great single-level apartment which is spacious internally and this is accentuated by panoramic views. Obviously other key pluses are easily accessible car-parking, and position within one of Melbourne's better towers. Concerns - balcony is a little tight but probably just big enough.


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3
Bedroom
3
Bathroom
3
Parkings
315sqm
Land Area
Floor Plan Agent

Sold - 7:00pm Oct 20 2011

Quote $3,300,000 - $3,500,000

North Facing

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Advice that Matters

James Buy Sell works across Melbourne’s top-end property market to help our clients make smart real estate decisions.