A U T U M N 2 0 1 3

The Halo Apartments St Kilda

QUARTERSn e w s l e t t e r

l I t t l e P r o P e r t y G r o u P

t H e

2013 sees Little Projects soaring from strength to strength with two major new developments now sold out off the plan ahead of construction completion.

It’s an incredible achievement for Halo in st Kilda and IlK south yarra, however one that doesn’t surprise us. It’s a testament to the superior quality of these iconic developments.

Halo is the first project to complete this year, with 158 apartments overlooking Albert Park lake and the City, in the heart of Fitzroy street, st Kilda. IlK south yarra’s prime location on toorak road near Chapel street and its first class amenity, no doubt contributed to us selling out all 388 apartments six months ahead of completion.

those who missed out on the opportunity to buy at IlK south yarra can buy an apartment in Central south yarra, our newest project located just around the corner at 3 yarra street. Central offers dedicated city views and is located within an emerging pocket boasting the very best in cafes, restaurants and retailers. If you haven’t visited the Forrest Hill Precinct recently, we recommend you try brunch at two Birds one stone, or dinner at Mama Baba or Claremont tonic. while you’re there, visit leone for a personalised tour of our interactive display suite at 3 yarra street (open saturday to thursday 1-4pm).

on a general note, the Melbourne property market seems to be bouncing back after a tough 2012. we have noticed more confidence in the market with higher attendance at both rental and sales opens. this has meant a busy period for both our little Projects and little residential teams. our Port Melbourne team successfully leased over 110 apartments in our new 101 Bay development, with many tenants secured before settlement. A great achievement and one our investors appreciated.

we are looking forward to another great year and continuing to deliver best in class projects to market.

An outstanding start to the new year.

Michael Fox Managing Director little Projects

Halo leads a blessed existence.

Halo Completed Apartment

“Halo has been a resounding success, selling out completely off the plan. ” Michael Fox, little Projects Managing Director

Halo, little Projects’ brand new development located at 163 Fitzroy street, st Kilda, was a joint venture project with Macquarie Group. the nine level building designed by Ascui edwards Architects, comprises of 158 one and two bedroom apartments.

little Projects succeeded in meeting high expectations for the development, not only delivering Halo on time, but selling all apartments prior to construction completion. “the fact all 158 apartments were sold off the plan highlights their exemplary quality,” says Fox.

the impeccably designed apartments are constructed to the highest exacting standards by Crema Constructions. those fronting onto Fitzroy street boast uninterrupted views over Albert Park, to the city and the bay. the location speaks for itself, situated in the heart of st Kilda with the best restaurants, bars and cafes literally on the doorstep.

T H E H A L O A P A r t M e n t s

For further information please visit

www.littleprojects.com.au

“we saw a high number of owner occupiers purchasing, with many investors also seizing the opportunity to get a piece of this prized location. we also have two exceptional retail opportunities available for sale on Fitzroy street,” says Fox.

little residential had an important involvement in the project, using an innovative leasing strategy with Halo. Following on from similar success at 101 Bay in Port Melbourne, a completed apartment was fully furnished as a display apartment for tenant inspections that were undertaken prior to building completion. this without a doubt contributed to securing tenants for many apartments before settlement. these triumphs demonstrate the effectiveness of a developer partnering with their own real estate division to deliver a full service solution for investors.

“we are immensely proud of the Halo development, both its superb quality and the amazing reaction it has inspired,” says Fox.

Artist’s Impression

Leasing opportunities now available at Halo. For more information contact Danielle Cargill from little residential Asset Management on 03 9810 2020.

ILK Residents’ CinemaHalo st Kilda Completed

IlK south yarra 100% sold out

tip top Basement work underway

Completed. Under Construction.

• 100% sold out off the plan

• Concrete structure complete

• Prototype apartment complete

• Anticipated completion Jul-sept 2013

• 100% sold out off the plan

• 158 apartments

• Construction completed in February

• 6 buildings under construction

• 90,000m3 of soil excavated from site

• Basement work underway

• tower crane installed in February

ILK SoUTH YARRA

Halo ST KiLdA

Tip Top bRUNSwiCK eAST

Little Projects is committed to delivering the highest quality control and assurance to our buyers.

we have had an exciting start to 2013 with the construction now complete on our Halo development on Fitzroy street, st Kilda. Purchasers are currently in the process of settlement.

we have recently completed the concrete structure of our IlK south yarra development on toorak road, along with a prototype apartment. For those unfamiliar with the concept, a prototype apartment is one apartment within the development completed to full specification early in the construction process. the prototype sets the benchmark for quality to be delivered by our contractor and their suppliers throughout to ensure consistently high quality standards are achieved.

some of the areas that are reviewed during the prototype process are tiling details, kitchen and bathroom joinery, windows, lighting, power and intercom set out and plasterboard and paint finishes. this quality control process allows us to review the finishes, details and quality of construction early in the construction fit out programme and refine any elements

as required. we look forward to bringing you photos of this prototype in the next edition of our Quarters newsletter.

the tip top Precinct in Brunswick east is also well underway with over 90,000m³ of soil removed over the summer period; this is the equivalent of 34 olympic sized pools excavated from the site. Basement works are underway with the first concrete car park slab 40 per cent complete. the first tower Crane was installed in February.

For more construction updates and photography visit our individual project websites accessible from www.littleprojects.com.au

Paris Lechte Construction Director

Creating the future of property. L I T T L E P r o J e C t s

we want to create lasting impressions on Melbourne’s skyline, building apartments people want to own in lifestyle developments people love.

Redefining apartment living.

It’s this commitment to creating ‘best in class’ developments that keeps us focussed on our customers and how they live in the spaces we create.

we understand that buyers’ attitudes towards property are changing and why people’s priorities are shifting towards a more urban lifestyle. we are leaders in emerging trends and understanding the lifestyle aspirations of inner-city dwellers. Buyers are trading space for more intelligent design whilst seeking amenity both within the development and immediately surrounding prominent inner city locations.

Melburnians value living close to their favourite café, having access to the very best restaurants and bars and being only moments from transport hubs, schools and the City, with all its world class amenities. It’s these lifestyle aspirations that outweigh the benefits of the traditional ‘Great Australian Dream’.

our purchasers appreciate the one-of-a-kind resident spaces designed for entertaining, relaxation and wellbeing. At IlK and Central south yarra, we have dedicated areas for world class resident amenities, including indoor/outdoor cinema, pools, gyms, rooftop gardens and terraces, these spaces are designed as an extension of the private living areas of your own apartment. within the apartments, we work with the best architects and interior designers to create multifunctional living environments that maximise light, space, storage, orientation, and quality of finish.

we have had an outstanding start to 2013 with 101 Bay successfully completed. Both Halo in st Kilda and IlK south yarra sold out ahead of completion and we’ve seen the momentum increasing across our newest developments – Central south yarra and silo Apartments in Brunswick east.

we attribute these results to our in depth understanding of our customers and their expectations, combined with our commitment to producing first class projects.

Find out more about our current projects at www.littleprojects.com.au

Fergus Humphries

General Manager – sales

Sky Pool at Central South Yarra

Apartments Available

L I T T L E r e s I D e n t I A l s A l e s L I T T L E r e s I D e n t I A l A s s e t M A n A G e M e n t

Spring into Autumn.

with an abundance of new developments and off the plan opportunities, there are still plenty of ways to

add value to an established investment property.

A new property is a wonderful investment - when you buy off the plan there are stamp duty savings, rent is at its maximum and more often than not the yield is higher. For these reasons, it goes without saying that this creates greater competition for an established investment property.

According to the reIV, Melbourne’s February vacancy rates were 3.3%, 0-4 km from the CBD. so, in a market with increasing competition and higher vacancy levels, the key factor to staying ahead of the game is by maintaining your asset.

with over 20 years experience in real estate, I still find it surprising how many people lock their property up, lease it, then return several years later expecting it to be as they remember. unfortunately, wear and tear means there is almost always general maintenance required along the way (as with any property). Careful tenant selection will ensure you minimise this, but how do you attract the best applicants? A well maintained, clean, suitably priced property will ensure the cycle continues.

1. take an interest in the inspection report as it indicates your property’s status and all maintenance requirements. Instruct your Property Manager on any action required.

2. If the property requires major work, organise quotes early so you understand the associated costs. Put money into a maintenance fund to avoid cash flow issues should unforeseen problems arise.

3. when you receive notice of Intention to Vacate from your tenant, take action and book tradespeople so they are ready as soon as the property becomes vacant, minimising any down time.

4. Before leasing, have the property professionally cleaned as this will help when locating and attracting new tenants.

5. Always have professional photos taken. no matter what level of rent your property achieves, this will make it one of the best presented in the market, giving your property a point of difference.

Follow these practices and your investment will remain in prime condition for many years to come.

Maintaining your investment for the long term.

Matthew Tucker Asset Management operations Manager

For more information on little residential’s Asset Management services for your property, contact the Asset Management team on 03 8809 5555

The new year has seen a resurgence of buyer activity in the market, with Autumn presenting great conditions for sales this year.

little residential has experienced a positive start to 2013, with high attendance at open for inspections, strong competition at auctions and more increasingly, offers before auctions, which are all positive indicators for the Autumn market.

with Federal elections set for spring this year, we anticipate it will produce some buyer uncertainty in the normally strong spring selling period, making Autumn the prime time to be selling your property this year.

84 Duke street RICHMOnd

Sold $950,000707/101 Bay street PORT MELbOURnE

Sold $775,0001604/68 latrobe street MELbOURnE

Sold $496,000

the rush to buy and move before the winter chill sets in will be further bolstered by the recent series of rate cuts and economists predicting potential for another cut to follow. we anticipate that this will encourage even more buyers into the market, further building attendance and excitement at opens and encouraging property sales overall.

with a positive start to the year, we are looking forward to continuing to produce strong results for our vendors this Autumn.

21b Inverleith street HAwTHORn

Sold $730,000

223

113 222 112

Tony Kenna General Manager - sales

to sell your property this Autumn, contact our team on 03 8809 5888

we currently have a rare and exciting opportunity in an established period building within a prime Hawthorn corner location, 822 Glenferrie road. this is a dual frontage property boasting space for a prominent showroom or extensive office space, with the flexibility of a split tenancy if preferred.

An expansive clear span showroom space at 371 whitehorse road Balwyn, is another unique offering currently available. the property lends itself to a prominent restaurant or retail space, with 210 sqm of ground floor and a total area of 385sqm. For decades this location has been recognised as Balwyn sports & toys and this is the first time it has been available for lease.

the newly completed 101 Bay development in Port Melbourne is now home to a brand new restaurant – Bay one o one. Described as a slice of Italy in Port Melbourne, the already popular new restaurant features a state-of-the-art fit out sure to impress. this was leased off the plan prior to construction completion and sold at auction for $1.71 million providing a 4.3% yield.

we have several prime retail opportunities currently available within the recently completed Halo and soon to be completed IlK south yarra developments.

we look forward to the year ahead and continuing to provide the best service and outcomes for our landlords and vendors.

L I T T L E C o M M e r C I A l

only a few months into the new year, Little Commercial has some impressive new listings already secured.

Commercial real estate off to a flying start.

Stephen Speck Commercial sales & leasing Consultant

For all your commercial advice, contact our team on 03 8809 5777

371 whitehorse road bALwyn

822 Glenferrie road HAwTHORn

For Lease For Lease

‘Bay one o one’ PORT MELbOURnE

Sold

Head Office 41 Burwood road, Hawthorn Victoria 3122

T 03 8809 5999 F 03 8809 5990

E property@little.com.au LITTLEPROPERTy.COM.AU

Central South Yarra Artist’s Impression

Hawthorn Office 41 Burwood road Hawthorn Victoria 3122

Asset Management 03 8809 5555

residential sales 03 8809 5888

Richmond Office 484 Bridge road richmond Victoria 3121

Asset Management 03 8809 5555

residential sales 03 8809 5888

South yarra Office 222 toorak road south yarra Victoria 3181

Asset Management 03 8809 5555

residential sales 03 8809 5888

City Office 414 lonsdale street Melbourne Victoria 3000

Asset Management 03 8809 5555

residential sales 03 8809 5888

Port Melbourne Office 103 Bay street Port Melbourne Victoria 3207

Asset Management 03 8809 5555

residential sales 03 8809 5888

41 Burwood road Hawthorn Victoria 3122 03 8809 5999

41 Burwood road Hawthorn Victoria 3122 03 8809 5777