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Mark Baljak's picture
#127

^^ The shape alone makes it fairly interesting

Took a fair while, but Nightingale is moving ahead nicely now
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zicojapan's picture
#128

Have recently moved back to Brunswick so thought I'd post some photos from around the Anstey area. A few new cafes have opened up in the area, but besides that the street level is pretty poor. A few trees would be nice.

2 Duckett St.
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8 Breese St.
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Hendrix
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33-35 Breese St.
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And 288 Albert St. Not in Anstey, but close by.
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3000's picture
#129

I've inspected some of the Breese St apartments. Some are really nice and others are trash.

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Peter Maltezos's picture
#130

That's an impressive sight below. surprise

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Mark Baljak's picture
#131

I would have thought the majority of apartments in Anstey are investor grade, small and not than impressive

808 Sydney Rd
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Mason Lygon Street
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3000's picture
#132

Mark,
Some are investor grade for sure and they tend to have a high occupancy rate (for rentals) due to questionable quality and layouts.
I inspected one place on Breese street where the retail space had changed at the last second to an apartment. The doors to the bedroom would go out into the main entrance on the outside of the building. Basically, the developers wanted to squeeze that extra bit out. You can actually see the building in one of the above pictures.
I will post pictures of this shocker if I can.
Others have actually upped the quality and produced some fantastic outcomes. Reasonable sizes, great storage solutions and an attention to detail missing from other developments. These buildings have literal hoards of people wanting to get in, as I saw first-hand on multiple occasions. Easily 26+ people inspecting one apartment.
There is also some businesses really making the most of podium activation down this way as well.

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Mark Baljak's picture
#133

NOD given for the reworked version of Nightingale Sydney Road

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zicojapan's picture
#134

2 Duckett St
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Hendrix
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Mark Baljak's picture
#135

^^ Nice pics

The Albert around the corner is properly hammering along

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Mark Baljak's picture
#136

May update

288 Albert
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EBV
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East
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Mason
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Hendrix
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Mark Baljak's picture
#137

Good read

How it Sold: Sustainable apartment in The Commons goes for $200,000 above peers

The Australian Financial Review has spoken to the team behind the most intriguing recent property sale for our column, How it Sold.

The property: A two-bedroom, one-bathroom 72 sq m apartment with covered balcony at 404/9 Florence Street, Brunswick, VIC. Sold before auction for $755,000.

Who was the agent/agency? Lisa Roberts, Broderick Turmaine, Jellis Craig Brunswick.

How long was this on the market? [Lisa] One week.

Why did this one sell? Definitely the quality of the architectural design and the sustainable concept.

Was it overpriced? Not at all. It's a very fair price for sustainable housing in Brunswick. I wish I had more of it. It was the right price for a sustainable development but a good price compared with an equivalent apartment in the ubiquitous block in the area.

What did you think it would go for? I thought it would go in the region of $640,000 to $700,000. The reserve was $701,000.

What was surprising about it? This was the first apartment in The Commons, a 24-unit development that won the country's top architectural award for multi-residential housing in 2014, to be sold on the open market. They were all sold off-plan and a few have traded off-market since then. The last to sell was another two-bedroom unit on the first floor, last October for $665,000.

We had an open inspection and 17 groups came through. There were a lot of young home buyers who understood the concept, but they didn't have the financial legs. It was the traditional story – empty nesters have that much more to spend. We did have some sustainable eco housing tourists though that were just very excited!

We got an offer in the first week from an older lady who knew the concept. She had also been missing out on other properties and said she wasn't going to miss out on this one. She was renting in Thornbury. She had sold in northern NSW and had been renting since last year.

Empty nesters have sold their property, they can outlay the cash to spend, but know in time they'll be pensioners or self-funded retirees down the track. It's all about living costs in the long term. A lot of people think like that when downsizing for good. They've got more cash to outlay than first home buyers. They think of running costs down the track. In The Commons, for example, you don't have to pay water for laundry – there are common washing machines on the roof of the building that are fed by rainwater. There is no airconditioning. It is designed to stay passively cool in summer.

Compared with your average unsustainable home – a grey boring apartment - it's probably $200,000 above that standard, overwhelmingly common, product.

She put in an offer of $755,000, 55,000 above top end of the range. For the vendors, who were happy to take $640,000 to $700,000, it was too good to refuse.

Do you reckon we'll see another result like this: a) next week b) next year c) next cycle d) never? b) Probably next year. We're looking at a couple of developments and hopefully we'll have a few more properties to sell. There's another developer doing one on Sydney Road and I hope we'll have that up within a year at a similar price point. It's a small development of about 24 units.

Read more: http://www.afr.com/real-estate/how-it-sold-sustainable-apartment-in-the-...

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Mark Baljak's picture
#138

SJB design for 8-14 Michael Street, BRUNSWICK

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3000's picture
#139

Not bad.

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theboynoodle's picture
#140

Harsh ;) I think it looks terrific.

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zicojapan's picture
#141

2 Duckett St

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The Albert

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8 Breese St

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Mark Baljak's picture
#142

That Duckett Street build has come up trumps

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Mark Baljak's picture
#143

Interesting idea

Developer Jameson Capital will prioritise first home buyers paying just a 5 per cent deposit for ten of the 97 apartments it is selling in Melbourne's Brunswick.

The ten sales at B.E. Brunswick East won't feature as qualifying presales required by the project's lender and could lengthen the time needed to reach the target of 65 per cent of sales to buyers paying full 10 per cent deposits, said Jameson Capital co-founder Nick Browne.

Read more: http://www.afr.com/real-estate/affordability-boost-developer-prioritises...

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Mark Baljak's picture
#144

Nice design for Sarah Sands by JCB - hotel to be retained within old structure

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Mark Baljak's picture
#145

Nightingale seeks scale, licenses first housing project to commercial developer

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Nightingale housing, which cuts out traditional developers and limits investor profit margin to 15 per cent, has licensed its first development to a commercial developer as it tries to work out how to expand the scale to its affordable housing model.

Private developer Lucent Capital, which has paired a 38-apartment Nightingale development next to a higher-yielding 28-unit commercial development on a 1670-square-metre site in Melbourne's East Brunswick, has fully sold both projects and plans to start construction in February, after selecting a builder.

The two developments were marketed separately and sold at different price points – a two-bedroom, two-bathroom apartment in Nightingale costs about $615,000 and its Little Miller equivalent $652,000 – and Nightingale buyers could lower their cost further by cutting back on a second bathroom or foregoing a car park.

But by combining them for the purposes of bank funding, Lucent was able to get the overall profit margin lenders required to commit to financing – usually upwards of 20 per cent – up to the 17.5 per cent minimum required and ensure financing for the developments, managing director Panos Miltiadou said.

For the developer, it's a win. It's also a win for Nightingale, started by Melbourne architect Jeremy McLeod as a way to boost the supply of affordable, well-designed housing, as it opens up a way to license the model to a wider pool of players and give it greater scale.

But it was also a challenge for Nightingale, which sought explicitly to exclude developers and their margins from a process that the organisation argues pushed prices higher and led to poor-quality, unsustainable housing.

Read more: http://www.afr.com/real-estate/nightingale-seeks-scale-licenses-first-ho...

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Mark Baljak's picture
#146

Some action in the area

288 Albert
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8 Lygon
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Burgin
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Rima
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Nightingale 2
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Peter Maltezos's picture
#147

^^ Mark, I can't see any of your photos.sad

I collect, therefore I am. thecollectormm.com.au

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zenith's picture
#148

Love the balcony windows on Nightingale 2.

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Mark Baljak's picture
#149

5-9 Brunswick Rd renders

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Bilby's picture
#150

That section of Brunswick Rd. is shaping up as one of the most uninspired strips in Melbourne!

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3000's picture
#151

Like someone here said, Brunswick is where good design goes to die.

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