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The George St Kilda – Quarterly Financial Review

June 17, 2010

The George – 129 Fitzroy Street, St Kilda

Anil Kapoor presents an annual rundown on all the activity essential for George owners to know. This will be updated for you and emailed out in a link every quarter.

The George Hotel, Fitzroy Street, St Kilda was first established as the Terminus Hotel in 1857. It was constructed opposite the St Kilda Railway Station, the terminus of the Melbourne to St Kilda railway line, which was opened the same year. This is a building of historic architectural relevance to Melbourne, and you can find an in-depth research piece by Heritage Victoria if you click here .

The building now consists of studio apartments and conventional apartments, and also has both retail and restaurant elements to enjoy. It is very close to public transport, local amenities and great shopping strips including Acland Street. The George is only a quick walk to the beach and St Kilda Foreshore.

Fitzroy Street itself is a huge of great recreational interest, with many quality restaurants, bars and a great nightlife. Click here to find out more about what you’ll discover on Fitzroy Street.

The George, 129 Fitzroy Street, St Kilda

Rentals for Past Year:

403/129 Fitzroy Street 1 bedroom $250 per week

201/129 Fitzroy Street2 bedroom $430 per week

402/129 Fitzroy Street 1 bedroom $250 per week

207/129 Fitzroy Street 1 bedroom $250 per week

103/129 Fitzroy Street 2 bedroom $510 per week

407/129 Fitzroy Street 1 bedroom $280 per week

104/129 Fitzroy Street 1 bedroom $380 per week

101/129 Fitzroy Street 1 bedroom$380 per week

We will be updating sales for the past year shortly.

Body Corporate: The body corporate for this building is Victoria Body Corporate Services.  They are a large body corporate management firm who manage many medium to high density buildings.

Amenities:

The George itself has a thriving retail element which includes: The White Bar and the renowned Melbourne Wine Room . It is also opposite to The Saint.

Demographics:  There are a range of both long-term residents and speculative investors at The George. The Fitzroy Street precinct of St Kilda is known as a very active ‘social zone’, and as such the tenants and owner-occupiers often enjoy the lively party vibe of the area. The George is very well known both as an architectural icon as well as an ‘it’ building for St Kilda.

Construction Nearby Underway: Rhapsody, on St Kilda Road by Ubertas  joins its sister building 505 St Kilda Road. There is also a contentious ongoing debate about the re-development of the St Kilda Triangle. Find out more about this topic by clicking here

Forecast for the 2010-2011 Financial Year: We envisage that continuing owner occupier interest and buying power will keep the market buoyant in St Kilda for the second half of 2010. Dependant on bank interest rates, we could experience a flattening of the market in 2010 in the plus $500,000 sector. The George offers a unique buying opportunity in an upwardly mobile neighborhood which should cushion it from too many market fluctuations.

For further information on this, or any other property needs you may have, please contact:

Barry Feldman p) 9532 8686 or e) bfeldman@stockdaleleggo.com.au

*Stockdale and Leggo Elsternwick has gathered this information to provide an interesting document for readers and subscribers. Information contained herein is gathered from a range of sources including but not limited to; local Queensland press both virtual and hardcopy, Valuer General Information & Agents own investigations. All efforts are made to verify the information provided. The information is not to be relied upon or used in dealings with third parties and people should make their own investigations regarding their own property or personal circumstances. Opinions and observations offered should not be treated as fact.

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