Property Name: The MerchantLocation: Docklands, Melbourne VICType: 1 and 2 bed Apartments Expected Completion: Late 2009Tenant Profile: Mainly professionals
The Merchant is a quality, architecturally designed apartment building right in the heart of Victoria Harbour and the Docklands. Located on Bourke Street it is directly opposite the Merchant Street retail precinct including a Safeway supermarket, and within minutes walking distance from the City, Harbour, parklands and Southern Cross Station. The building stands at only 8 levels and includes retail shops on the ground floor which will promote activity and life around the base of the building. The Merchant has been designed to offer an unprecedented opportunity to make inner city living more accessible to everyday Melburnians – and all with the Lend Lease quality backing. Victoria Harbour is set to be a vibrant, diverse precinct for all who live and work there. With a direct connection to the City via Collins Street, surrounded by 2.5 km of water frontage, and together with quality buildings including The Merchant, this is a unique combination of all things great about Melbourne living. The Merchant is a smart investment for the astute purchaser and an opportunity not to be missed to buy into this amazing location of Victoria Harbour.
Capital Growth: After a decade in the making, Docklands is finally taking shape with a huge increase in demand for Dockland property in late 2007 and early 2008. Demand for property which is on the water and beside the CBD will only increase over the coming months and years particularly for the professional market There are only limited sites available so supply meeting demand is unlikely in the short term putting upward pressure on prices Construction is underway on the new ANZ headquarters which will house more than 5000 workers, following the lead of NAB 5 years ago who moved their 5000 staff there. The commercial rush of big business to Docklands is great news for investors Rental Return: Victoria Harbour’s proximity to trams, Southern Cross station, access to Melbourne’s CBD and major arterials and freeways makes it one of Melbourne’s most sought after places to live. To date Dock 5 has set the standard as a first class residential development, attracting a great number of executive and corporate tenants and achieving rental rates which have exceeded the average rate paid in the Docklands area
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