Property Name: LacrosseLocation: Docklands, VIC Type: 1 & 2 bed Apartments Expected Completion: Spring 2010Tenant Profile: Mainly professional singles or couples who work in and around the CBD
The Lacrosse is a mixed-used development comprising of residential apartments, recreational facilities, Quest Serviced Apartment, retail shops, strata office suites with a full time receptionist and fully equipped boardrooms. It is an energetic and creative mini-city located only 200 meters away from the waters of Victoria Harbour. All transport modes are easily accessible including trams, trains and the airport freeway. Some 7000 people come to work in Docklands each day and it is projected that by 2009 people working in Docklands will more than double. Without doubt, Lacrosse will soon be the most desirable new neighbourhood in Melbourne.
Capital Growth: After a decade in the making, Docklands in 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 year ago who moved their 5000 staff there. The commercial rush of big business to Docklands is great news for investors. Rental Return: The relocation of major businesses in the area will create a huge flow on effect in terms of creating demand for rental properties.
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