INFORMATION PACK: ETTARO Project Description with Research and Investment Analysis Address: 21 Brunswick Road Brunswick East VIC 3057 This information pack has been prepared by Melanie Cassy & Co for private use by its clients. This information may be subject to change, and may be updated from time to time. The information contained herein is general property investment advice and does not take into account individual situations, needs or goals. It should not be relied upon and persons should satisfy themselves through independent means that any decisions based on this material are appropriate. We recommend that you consult with your Melanie Cassy & Co Adviser who will be able to make a recommendation based on your specific circumstances. Melanie Cassy & Co Level 1, 415 Riversdale Road Hawthorn East VIC 3123 T 03 9804 0228 cassy.com.au
Introduction to Ettaro, Brunswick East John s thoughts on the development: In terms of supply, demand and popularity of Melbourne suburbs over the years, several areas and conversations come to mind. I remember when Port Melbourne and Richmond were spoken about quietly, as if they had not yet arrived with respect of being popular inner urban suburbs. I remember explaining to clients that for medium to high density residential property in Carlton and Parkville, there was no doubt about the underlying demand from both owners and occupiers. And I remember many years ago encouraging our clients to purchase investments in south Brunswick, and some didn t understand. Well, there is no question from anyone now; Port Melbourne, Richmond, Carlton and Parkville have all reached staggering heights in terms of popularity amongst both owners and occupiers - and Brunswick is right up there too. Brunswick is absolutely sought after. Anyone with an understanding of the Melbourne property market just knows that Brunswick, with its personality and all its activity, is an absolute certainty in terms of property investment, just like the other suburbs I mentioned above. Ettaro, a new property development by Caydon, will be unique and unforgettable and will encapsulate everything Brunswick has to offer. Caydon has done an excellent job in designing and developing this property; and with owner Joe Russo at the helm, any property purchaser in Ettaro can be assured of absolute quality as a result of Caydon s integrity and ongoing commitment to delivering superior product every time. Set over three distinct buildings, with street frontage offered on three prime locations, Ettaro is beautifully designed with every extra you could think, including leafy avenues, gym, pool, spa, bocce court and barbeque area; appealing to both owners and occupiers. Ettaro properties easily fit into our strict property investment philosophies and have passed our strict due diligence process. I am pleased to confidently recommend an apartment in Ettaro for you to purchase as a successful long term investment. John Hopkins - Executive Chairman of Lantern Property Partners IN THIS PACK: Development Overview Location Investment Potential Development Team Sample Footplate and Floor Plans Why Invest in Ettaro?
Development Overview Set on a hectare of land, Ettaro will be comprised of a selection of 412, one, two and three bedroom apartments, spread between three buildings. Promising a luxury of space, the development will boast a contemporary, modernist design by Hayball Architects, presented both inside and out. The three buildings, Barkly Street Apartments, Canning Street Apartments, and Brunswick Road Apartments, are each named after their corresponding frontage and are designed to aesthetically complement one another. Leafy internal pedestrian avenues will be punctuated by a sequence of communal resident amenities, where residents may enjoy playing Bocce on a dedicated court while sharing a barbecue with friends, or maintain their fitness in their very own state of the art gymnasium, pool and spa. Each apartment will be equipped with full kitchens, featuring Baumatic appliances including an electric cooktop, oven, and 60cm fully integrated dishwasher. Floorboards will come as standard to main areas, and are the only feature within apartments that will be changed if a light or dark colour option is chosen. All apartments will be designed with contrasting black and white elements. Estimated Property Type Price Range Weekly Rent* One Bedroom (from 47-62m²) From $342,000 $360 - $420 Two Bedroom (from 58-98m²) From $472,000 $430 - $550 Three Bedroom (from 93-109m²) From $788,000 $550 - $650 *Rental estimates and exact rental returns will vary for each individual apartment depending on its floor plan, apartment size, position within the building, aspect, views and other issues such as lease terms and conditions. DEVELOPMENT FEATURES Ettaro Club Health Centre Ettaro Club Rooftop Retreat, with outdoor cinema and putting green Bocce court 411 car parks CCTV security, controlled access and panic alarms in car park APARTMENT FEATURES Floorboards come as standard Northern, city and garden aspects available Full kitchens Modern black and white contrast interiors CONSTRUCTION PERIOD Constructed expected to begin Late 2014, with an anticipated completion mid 2016 Artist impression of Ettaro
Location KEY FEATURES 3km to Melbourne CBD Close to Melbourne s Hospital, University and Cultural precincts Direct access to city via Canning Street WALKING DISTANCE TO Public transport options Bars, cafés and restaurants Walk score of 90 Walker s Paradise With a rich European past, Brunswick East lays claim to an offering of diversity and lifestyle. With culture and atmosphere, this is where Melbourne s cafe culture and proclivity for outdoor dining was born! Address: 21 Brunswick Road, Brunswick East A relaxed neighbour to Carlton North and Fitzroy North, Brunswick East s creative spirit is a draw-card for Melbourne s agents of style. Culturally diverse, Ettaro s location is revered for its authenticity and distinctive personality. A mecca for creative types and culture vultures, the centralised location of this development places it amongst some of the City s best bars, cafés and live music venues. Transit and connectivity in Brunswick East are second to none, and is considered one of the best locations for public transport. Close to Lygon Street, Rathdowne Street, and Nicholson Street, the development will enjoy proximity to a wide array of entertainment, restaurants and shops. Only 3km from the Melbourne CBD, Ettaro is ideally placed, designed with a commute to the city in mind, with Canning Street providing direct access. The development will also extend Canning Street, creating Canning Way, providing easy access for pedestrians and cyclists.
Location Ettaro Melbourne CBD Map showing the proximity of Ettaro, only 3 kilometres from the Melbourne CBD Satelite map showing the location of Ettaro in relation to surrounding area
Investment Potential Melbourne Market Analysis Apartment living has become a much more accepted form of housing across Melbourne. This trend will continue to evolve in response to a range of structural and long-term demographic, social and economic trends. Source: Charter Keck Cramer Purchaser and renter demand for apartments, particularly in Melbourne s inner suburbs, will be driven primarily by its comparative affordability relative to established housing. Capital Growth The increasing population that Melbourne is experiencing continues to drive demand of both sales of houses and units, as well as leasing. Source: APM Vacancy Rates The current vacancy rate in Melbourne is 3.0 per cent. The REIV considers that the market is in balance when renters can easily find a home to rent and investors are able to secure a reasonable return. Source: REIV February 2014 Rental Yield The typical Melbourne unit is now returning 4.4 per cent gross. Investors seeking to maximise their rental return are advised to buy where rental demand is likely to be the highest and supply constraints are evident. Established suburbs close to major working nodes are generally a safe bet, as are suburbs close to universities and major public transport hubs. Source: RP Data Capital Growth Investors will no doubt hit the traditional investment areas such as South Yarra, Elwood and Richmond. As usual, they will look for the standard requirement of good transport infrastructure, shopping, restaurants and bars because all these things result in strong tenant demand. Source: Property Data, December 2012 The national housing shortage as at December 2011 was 186,000 dwellings. This shortage is worse than the anticipated 178,000 and is expected to grow to 308,000 dwellings in 2014. Source: The Australian, 21 December 2011 Melbourne is ranked the world s most livable city for the third consecutive year. The Economist, August 2013
Brunswick East Market Analysis Brunswick East Market Assessment In terms of annual price growth there has been solid performance for apartments in Brunswick East and the surrounding catchment area, with strong performance in the last 12 months. The average price growth has been 3% per annum over the last decade which is comparable to Melbourne CBD. Over the last 5 years median prices have grown by 10%. Furthermore, the fundamentals of the Brunswick East property market remain sound with current apartment prices representing good value relative to house prices. In the last 12 months apartment sales accounted for 40% of total residential transactions in Brunswick East, which extends the catchment area (34%) and the Melbourne average (29%) Source: RP Data Urbis Investment Snapshot 4.5% indicative gross rental yield Median asking apartment rents are $400 per week in Brunswick East, which is above the Melbourne Metropolitan average ($350 per week)
Development Team DEVELOPERS Previous work by The Developer CAYDON Caydon is a private property developer known for influential design aesthetic, profiled across Melbourne s distinct urban landmarks. Caydon offers consistently brilliant living arrangements with excellent building amenities that promote low risk property investment decisions. Their residential projects are complemented by convenient transport links to all relevant amenities that the young, vibrant generation of today require to maximise their lifestyle and work balance. S.T.K, St Kilda Atria, Hawthorn Previous work by The Architect ARCHITECTS HAYBALL ARCHITECTS Hayball is a Melbourne-based architecture, interior and urban design practice with nearly thirty years experience. In that time they have realised hundreds of projects, from single and multi-residential buildings to schools and universities, commercial developments and urban design for entire suburbs. Aura, Melbourne They have completed projects across Australia, South-East Asia and China. St Peters College
Sample Footplate Ground Level Not to scale
Sample Footplate Level 6 Not to scale
Sample Floor Plans 1 Bedroom 1 Bathroom Internal Area = 50m² External Area = 4m² Total Area = 54m² Not to scale
Sample Floor Plans 1 Bedroom 1 Bathroom Internal Area = 62m² External Area = 10m² Total Area = 72m² Not to scale
Sample Floor Plans 2 Bedroom 1 Bathroom Internal Area = 58m² External Area = 12m² Total Area = 70m² Not to scale
Sample Floor Plans 2 Bedroom 2 Bathroom Internal Area = 71m² External Area = 13m² Total Area = 85m² Not to scale
Artist Impressions Artist Impression of Bedroom Artist Impression of Study Area Artist Impression of Living Area Artist Impression of Kitchen Artist Impression of Bathroom Artist Impression of 1 Bedroom Aparment
Artist Impressions Artist Impression of Ettaro Lobby Artist Impression of Ettaro - Brunswick Road Aparments Artist Impression of Bocce Court Artist Impression of Ettaro Club Gymnasium Artist Impression of Rooftop Outdoor Cinema Artist Impression of Ettaro Club - Gold Lap Pool and Spa Artist Impression of Rooftop Retreat
Why Invest In Ettaro? Location Prime inner suburban location The area enjoys unprecedented residential rental occupancy levels with quality tenants Close to parks, creeks, restaurants and entertainment Public transport just a short walk away Rents Median asking apartment rents are $400 per week in Brunswick East which is above the Metropolitan Melbourne average ($350 per week). Median rents in Brunswick East are marginally higher than suburbs in the surrounding catchment area, although are slightly more affordable than Carlton North ($410 per week). Apartments in Brunswick East achieve an average 4.5% indicative gross rental yield with yields in the surrounding catchment area ranging from 3.7% to 4.8%. Source: Urbis Brunswick East Residential Market Assessment February 2014 Additional Investor Benefits Significant depreciation benefits Significant stamp duty savings Blinds included for our clients For more information on Ettaro, Brunswick East or to make an appointment or reservation, please contact Melanie Cassy on 03 9804 0228 *Walk Score is a number between 0 and 100 that measures the walkability of an address. See www.walkscore.com for more information.