Emerging Melbourne Suburb - Find out why Docklands is a good opportunity for your investment portfolio - Ironfish

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Emerging Melbourne Suburb – Find out why Docklands is a good opportunity for your investment portfolio

Melbourne’s economic heart shifts west towards Docklands

Over 540,000sqm of office space has been developed or is under construction within Docklands. A growing number of international businesses have recently relocated into the Docklands precinct including Facebook, Deloitte, KPMG, Corrs Chambers Westgarth, Jemena, Regus, and Maddocks Lawyers.

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$15 MILLION RON BARASSI SENIOR PARK OPENS IN DOCKLANDS (NEW QUAY PRECINCT)
The first stage of the park includes a sports field, pavilion, playground, barbeques and a walking circuit. The park valued at $15m offers more open space for Docklands residents, workers and visitors to play sport, have a barbecue and take the children to play. This is another fantastic addition to the local amenity of Docklands and will attract more owner occupiers and tenants to the area.

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OWNER OCCUPIER DEMAND GROWS IN DOCKLANDS
3 bedroom apartment prices have increased by an average of $170,000 in the past 12 months to $1.1 million.
(APM Price Finder Aug, 2015 – 2016)
Demonstrating a demand for larger premium owner occupier product.

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STRONG 4.78% RENTAL YIELD IN DOCKLANDS
Docklands has a higher annual rental yield for apartments at 4.78%
than Greater Melbourne at 4.31% (Residex August 2016)

NEW 8-CINEMA HOYTS COMING TO DOCKLANDS (NEW QUAY PRECINCT)

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LOW VACANCY RATE OF 2.2%

  • The rental vacancy rate in Docklands is 2.2%. This reflects a tight rental market. Market balance is considered to be 3%. (SQM, August 2016).
  • Dockland’s largest property management company Lucas Real Estate reported a 0.9% vacancy rate in Docklands in August 2016.
  • Ironfish Property Management have reported a 0% vacancy rate for September 2016 within Ironfish properties in Docklands.

AUSTRALIA’S LARGEST QUEST HOTEL SET FOR DOCKLANDS – VALUED AT $71M
MAB Corporation is developing a 221-unit Quest Hotel. According to MAB, ‘the new and upcoming hotels will bring over 600 guests to NewQuay every night, adding to the day-to-day vitality of the Docklands and providing a further boost to the local economy.’

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