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RMIT is selling its Building 108, pictured here around 2006-07.

RMIT has listed its Bourke Street tower as the university sector battles financial stress caused by coronavirus.

Building 108, also known as The Tivoli, at 235 Bourke Street is expected to collect upwards of $120 million, with the university confirming the sale had been “expedited” by COVID-19.

It will initially be leased back to the university, which currently owns the strata for levels four to 17.

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The university has $120m hopes for the building.

The building made headlines in 2006 after a cluster of brain cancer cases emerged at the building, with 18 malignant tumours detected in people who had attended the campus.

However multiple studies have concluded the tower was not the cause of the cancer cases.

RMIT property services executive director Chris Hewison said the building was located away from its core city campus and not seen as of long-term strategic value.

“While our ownership of the property has been regularly reviewed since the completion of

the Swanston Academic Building in late 2012, the process has been expedited in light of

COVID-19,” he said.

CBRE’s Kiran Pillai said the building would attract local and international investors looking to modernise it either as office or education space.

How the entry looked in 2006-07.

“The travel restrictions will create a bit of a dynamic, but a lot of those big investors are represented by local managers,” Mr Pillai said.

“The property offers investors a true value-add opportunity in a precinct of Melbourne that

is set to go through significant structural change in the near term.

“It’s a great investment with heaps of upside.”

Gross Waddell conjunctional agent Andrew Waddell said it was rare to see such a property listed in Melbourne’s CBD.

“The building’s location at the epicentre of the CBD’s commercial, cultural and retail precincts is set to be a key drawcard for prospective purchasers,” Mr Waddell said.

The international expressions of interest sale will commence in the coming days, according to CBRE.

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It’s hard enough to buy a first home, but these three Australian investors have a combined total of 273 properties in their portfolios and continue to add to this number during COVID-19.

Nathan Birch, Eddie Dilleen and Oscar Ledlin started buying at a young age and have managed to grow their net worth into the millions.

Now, they see the market conditions during COVID-19 as one of great opportunity and are taking every advantage of the situation.

Nathan Birch has added seven properties to his 200 during COVID-19

Leading the charge is Nathan Birch – a 35-year-old investor and founder of Binvested, which is a property investment firm.

Birch had 200 properties in his portfolio before COVID-19 and has added seven more to the list since the pandemic hit.

“I see it [COVID-19] as a great opportunity as interest rates are at an all-time low,” said Mr Birch.

“Some people are scared, but… we are in the early phases of a new property boom.”

Mr Birch said the property market is in a similar place to 2009 during the global financial crisis, which has proved to be a good time to invest, with high rental yields in capital cities and strong stimulus packages from the government.

Nathan Birch has bought seven properties during COVID-19. Picture: Supplied

The total estimated value of his properties is $50 million. He purchased his first home in 2004 while he was just a teenager and working entry-level jobs.

His secret to success is having clarity on the end goal and treating property as a business.

“Buying a property and hoping is not a strategy; treating it like a business is important and having an acquisition plan is crucial when buying,” he said.

“Besides this, being committed and focused on your goals, and doing what is required, is important.”

Mr Birch said he hopes to be a billionaire by the time he’s 40 by using the same buying strategy he has used over the last 17 years.

“Let’s check back in and see how I go,” he said.

Eddie Dilleen is buying his most expensive property yet

Eddie Dilleen, the director of Dilleen Property, has 22 properties valued at about $7 million and is in the process of buying two more.

COVID-19 has given him the opportunity to buy his most expensive property yet – a Sydney home valued at $1.28m. He said he usually invests in properties valued between $200,000 and $700,000.

The Sydney-based 28-year-old bought his first investment property, on the NSW Central Coast, for $138,000 at the age of 19, with money he earned from his job at McDonalds. 

After his first investment, Mr Dilleen’s buying strategy was to avoid competitive and expensive Sydney and Melbourne markets and instead looked to Adelaide, the Gold Coast and Brisbane as investment capitals.

Last year, Mr Dilleen bought his first property to live in – a $1.28m Sydney home he plans to move into with his wife.

“I’ve basically been just renting as I was building up my portfolio, trying to build up my equity with small, entry-level properties around metro areas so that one day I could actually afford a nicer place in Sydney,” he said.

Mr Dilleen’s advice to others venturing into property investment is to learn from others who have already done it.

“When it comes to talking about real estate, everyone has their own opinion, even if they don’t own any themselves or have any experience,” he said.

“I would always recommend reading property investment books and watching YouTube videos – always check that whoever wrote the book or made the videos has the actual experience also.”

Oscar Ledlin has bought, sold and owned 51 properties this year alone

Oscar Ledlin is the 27-year old developer who, through his company Ledlin Developments, has bought, owned and sold 51 properties this year valued at just over $75 million.

“The most celebrated investors of previous generations write books on creating wealth during historic times of economic downturn and uncertainty. In books 10 years from now, we will reference COVID-19 as one of those times,” Mr Ledlin said.

“The short-term economic outlook for Australia is treacherous, without doubt. But we are finding real estate opportunities that haven’t been seen in the recent decade. A fearful vendor makes for a cheerful purchaser – vendor’s are fearful of what’s to come and this is providing incredible opportunity for the savvy purchaser.”

The Melburnian previously worked as a dishwasher in a Thai restaurant and as a tradie, however, by 21, he was a multi-million dollar investor with assets including factories, construction sites and land.

Oscar Ledlin has a property portfolio worth $60m. Picture: Supplied

Through hard work, he saved $50,000 by the time he was 21, which allowed him to buy a Somerville development project for $800,000. From there, the sky was the limit.

By the age of 26 had a $50m development portfolio and continues to add to this.

One of his best pearls of wisdom for investors is to buy a property that’s right for their overall financial goals.

“Are you looking for additional cash flow or for tax minimisation? Are you looking for a low maintenance property or something that you can add value to through renovation or subdivision?” he said.

“Are you eligible for any government grants? What deposit are you able to contribute and what monthly repayments are acceptable with consideration to your current lifestyle? We need to understand our financial capacity as well as comfort levels.”

The post Three Aussie investors taking advantage of the COVID-19 market appeared first on realestate.com.au.

44 Canberra Grove, Brighton East is a Bayside dream home for sale.

Bayside beauties are making waves on the market, with big price tags no issue for cashed-up buyers.

A number of near-new homes have come up for sale, with agents reporting plenty of demand for the magnificent properties.

In Brighton East, a recently completed dream home at 44 Canberra Grove was put on the market this week.

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The modern property has just been completed.

The living room overlooks the pool and huge garden.

Buxton Brighton agent Ross Walker said the four-bedroom house had “understated sophistication”, which had proved incredibly popular since it was listed with a $4.3-$4.5 million price guide.

“It’s very unusual to have this much land (810sq m) as part of a new build, so the number of buyers through as been extremely positive,” Mr Walker said.

“It’s in a particular part of Canberra Grove that is highly sought after.”

Huge windows add extra sophistication.

A walk-in wine room is a central feature to the house.

There’s also a luxe kitchen with Carrara marble benches.

Top-of-the-range features fill the decadent central living space, including a climate-controlled walk-in wine fridge, glamorous kitchen with vast Carrara marble benchtops and floor-to-ceiling windows that flood the room with natural light.

The living domain overlooks the outdoor barbecue zone, heated pool, spa and an expansive synthetic lawn.

Further along the bay, a brand-new Black Rock townhouse at 18A Iluka Street is offering a new edge to easy-care living.

18A Iluka Street, Black Rock is a luxury townhouse for sale.

Low-maintenance meets luxury at the property.

The Kiril Architects design was created to be “different to every other townhouse in Bayside”, Nick Johnstone agent Kris Barker said.

“It’s a really substantial home that doesn’t compromise on quality, finishes or accommodation,” Mr Barker said.

“It was only finished last week.”

An outdoor deck is next to native gardens.

Just completed, the property has modern bathrooms.

A kitchen in the open-plan living domain has stone benchtops, Bosch appliances and a concealed butler’s pantry. It’s adjoined to a sleek entertainer’s deck that overlooks a magnificent stringybark gum in the backyard.

Minor bedrooms are zoned upstairs where there is another living zone and two balconies overlooking Port Phillip Bay.

It’s for sale with a $1.95-$2.145 million price guide.

Another impressive townhouse at 1/5B Dalgetty Road in Beaumaris is for sale just a block from the beach.

1/5B Dalgetty Road, Beaumaris is another impressive property for sale.

The living room is warmed up by a sleek fireplace.

A modern kitchen inside.

Marshall White Bayside agent Kate Fowler said downsizers were drawn to properties that offered glamorous living “without the maintenance.”

“A lot of people are spending so much time in their houses right now and they’ve realised they want to put their money towards having a fantastic place to live,” Ms Fowler said.

“From a price perspective this townhouse works for those in corporate jobs or with kids too.”

A self-cleaning lap pool and triple garage are other luxe features at the four-bedroom property.

26 Dendy Street, Brighton sold this month for $6 million.

Big sales have been secured in Bayside despite the pandemic.

Zed Real Estate director Zed Nasheet reported a $6 million sale at 26 Dendy Street, Brighton, and another recent sale in Sandringham that took just one week to complete.

A $19.8 million sale was secured in Brighton earlier this year, while a new price record was set nearby in Elwood.

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A 3.14ha site in Ashbury is set to be home to more than 350 dwellings in the coming years.

The largest development opportunity to grace the inner west in more than a decade is set to see a 3.14ha industrial site transformed into high density apartments.

The two adjoining sites at 149-163 Milton St and 165 Milton St in Ashbury are being offered together or individually, and have been rezoned by Canterbury-Bankstown Council following a five-year process.

They back onto WH Wagener Oval and could house more than 350 dwellings made up with a mixture townhouses and apartment blocks.

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No. 149-163 Milton St is on 1.65ha.

Ray White Commercial Western Sydney managing director Peter Vines would not be drawn into revealing the price guide, but industry sources speculate the combined 3.14ha site is worth $90m — $50m for 149-163 Milton St and $40m for 165 Milton St.

Mr Vines said a development opportunity like this has never be seen in the inner west in more than a decade.

“It is impossible to find something in the area on this scale — the last time something similar came up was around Leichhardt over 10 years ago and it was not of this size,” he said.

The site has R4 High-Density residential zoning with a floor space ratio of 1:1:1. It is expected to cater to the owner occupier market and its elevated position could mean city and district views from the higher floors.

No. 165 Milton St is believed to be worth $40 million and is on 1.49ha.

Property records reveal the sites are owned by two different developer groups. No. 149-163 Milton St was acquired by Sydney developers Michael Teplitsky, Felix Milgrom and Boris Markovsky through Ashbury FMBM in 2014 for $30.88 million.

The smaller site at 165 Milton St was purchased in 2015 for $17.1 million by Joe Nahas through Ashbury Developments Pty Limited, according to CoreLogic. They are both leased by industrial businesses at the moment.

The landholding is set to high sought after by blue chip residential development firms, with Mr Vines expecting the site to be sold as one.

“Developers have been waiting for something this close to the CBD for a very long time,” he said.

How Milton St currently looks.

“The highest and best value for this is one lot, as it allows large developers the ability to offer the site in stages.”

Locals in the past have previously voiced concerns about a project of this size being built, but Mr Vines said the area stands to benefit from the development.

“The buildings there at the moment are an eyesore and the approved rezoning means townhouses will be at the front and higher buildings at the back, which will be less imposing than now,” he said.

“This site is an opportunity to create a local community hub with shops and cafes.”

Expressions of internet are being sought from Mr Vines and his colleagues Victor Sheu and Jeff Moxham until August 12.

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James and Sarah Scullin preferred 6 Park Ave, Richmond to The Lodge.

A young family has snapped up a Richmond residence that was home to Great Depression-era prime minister James Scullin while he was in the top job.

Scullin even held cabinet meetings from his sickbed at the four-bedroom house, which fetched an undisclosed sum just short of $1.7m a few days after passing in at auction in late June.

The 6 Park Avenue property was listed with a $1.68-$1.82m price guide.

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The site has approved plans for a rear extension.

James Scullin had been in office just days when the Great Depression was sparked.

After moving from Ballarat to Richmond in the early 1920s to take up a vacant Labor seat, Scullin went on to become Australia’s ninth prime minister.

He was elected in 1929, just days before a Wall Street stock market crash triggered the Great Depression.

Opting to remain at the 1911-built Richmond home rather than waste taxpayer money on a move to The Lodge in Canberra, Scullin and his wife, Sarah, “used the dwelling for Labor Party and parliamentary functions,” the Victorian Heritage Database notes.

A timber-topped kitchen and breakfast bar at the rear of the property.

One of four bedrooms at the 1911-built home.

Floorboards extend down the wide hallway.

Mrs Scullin also organised a number of cabinet meetings at her husband’s bedside in 1930, while he was ill with pleurisy.

Jellis Craig director Elliot Gill said Scullin’s great granddaughter had even inspected the property before its sale.

Mr Gill said the “quite unique” house had a single-fronted Edwardian facade and double-fronted rear.

Vendor George Panoussis sold the site with approved plans for a rear extension.

Leadlight windows and an open fireplace in one of the main living rooms.

A carpeted bedroom also contains a mezzanine.

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jack.boronovskis@news.com.au

@jackboronovskis

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The Hahndorf log cabin at 55 English Street is offering househunters a quirky character home. Pic: realestate.com.au

Buying a rustic log cabin doesn’t mean you need to sacrifice the luxuries that come with modern-day homes to enjoy it.

One in Hahndorf is offering the best of both worlds, with an extensive renovation giving it a new lease on life.

The three-bedroom home at 55 English Street has the character charm that comes with a log cabin but its contemporary interior makes it feel new.

Selling agent Sean Bennett, of Mayo & Co Real Estate, said it was being rented out as short-term accommodation at the moment.

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The kitchen is bright and vibrant now. Pic: realestate.com.au

Before it was rocking the timber look. Pic: CoreLogic

“(The owners) bought it a few years ago with the intention of doing a bit of a renovation and using it as an investment property,” he said.

“It took them about six months – they just went full-steam ahead.”

Mr Bennett said the vendors were considering replacing it with a modern home but they liked its facade so decided retaining the character was more important.

It was a decision that paid off as it has made the property popular among holiday-makers and househunters.

The open kitchen, living and dining area feels lighter and brighter now. Pic: realestate.com.au

The timber look made it feel darker inside before the renovation. Pic: CoreLogic

“(The interest) is quite surprising,” he said.

“There’s been a lot of people saying, ‘I love that type of house’, people who want something a little bit out of the norm.

“It’s a very popular short-term rental too.

“It really does feel like you’re in a chalet or lodge in the Alps.”

The kitchen forms the centrepiece of the home, with splashes of lime green making it stand out in the open living area.

All three bathrooms have been replaced, while a fresh lick of white paint has brightened up the rest of the home.

The bathrooms epitomise modern design. Pic: realestate.com.au

Before it was tired. Pic: CoreLogic

New gutters, electric wiring, including a switchboard, and decking were also part of the extensive renovation.

The 867sqm property, which is within walking distance to Hahndorf’s main street, is listed with a $490,000 to $539,000 price guide.

Mr Bennet said it would be a great home or investment property, which was currently being rented out for $300 a night.

The post Renovation breathes new life into Hahndorf log cabin appeared first on realestate.com.au.

Confidence is returning to the Victorian property market, with first-home buyers leading the charge.

This is a finding of ME Bank’s latest property sentiment report, which reveals one in four metropolitan Melbourne homeowners believe their property will increase in price within a year.

That marked an increase from one in five owners in the bank’s last survey — released in April, at the height of the city’s first COVID-19 wave.

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Market participants are seeing a new dawn in Melbourne. Picture: Mark Stewart

At the same time, the proportion of Melbourne homeowners who believed their property would fall in value over the year dropped from 40 to 35 per cent.

The figures are still well down on those published in the bank’s January report, before the coronavirus pandemic impacted the market, when two thirds of Melburnians predicted their property would notch annual price gains.

Barry Plant chief executive Mike McCarthy said Melbourne market participants had overcome an “initial wave of concern”, after predicted massive price drops failed to materialise.

“Everyone’s just got a bit more confidence since prices haven’t fallen off a cliff,” Mr McCarthy said.

“Because the market has stayed balanced in terms of supply and demand, we’ve seen good results throughout the whole period.”

COVID-19 lowered foot-traffic, but home values fell just 2.3 per cent. Picture: William West / AFP

Melbourne home values shed 2.3 per cent in the June quarter, according to property data firm CoreLogic.

ME general manager of home loans Andrew Bartolo said the latest survey results reflected “the robustness of property, and the fact there is this underlying affinity with property”.

But, with the survey conducted in June, he warned renewed lockdown restrictions could lead to another fall in confidence as the city struggled to shake off the virus.

The survey, which polled 1000 people nationally also found 51 per cent of budding first-home buyers intended to take the plunge in the next year, up from 42 per cent three months ago.

More investors planned to jump into the market too, with 39 per cent of respondents signalling their intention to buy within a year, up from 17 per cent.

A return to lockdown is likely to impact confidence levels. Picture: William West / AFP

“Clearly first-home buyers and some investors are looking at the current situation as an opportunity to obtain value,” Mr Bartolo said.

Amy Lunardi Property advocate Amy Lunardi said the “massive” jump in investor engagement was a sign of the market’s resilience.

“Investors are the most fickle in any market,” Ms Lunardi said.

“People have now realised the property market is so much more robust than everyone predicted (so) investors’ appetites are returning.”

Despite a return to stage three restrictions, Ms Lunardi said all the buyers she was working with were continuing with their plans.

“Nothing has really changed for them,” she said. “Now they are prepared, rather than last time, when we didn’t know what this could mean.”

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No. 19 Dobroyd Pde in Haberfield has a $4.5m-$4.8m guide.

A Haberfield home is set to be claim one of the highest sales seen in the inner west since the pandemic started.

The sprawling five-bedroom home at 19 Dobroyd Pde has sensational Sydney Harbour views and is described as a “once in a lifetime opportunity”.

Listed with a $4.5m-$4.8m guide, a sale at this price point would see the home become the second or third highest sale in the suburb following the $4.938 million record set last year.

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The home is near the popular Bay Run.

The landmark residence has been owned by the same family for 33 years and has a swimming pool, manicured gardens and multiple outdoor entertaining spaces over 828sq m.

McGrath Leichhardt agent Michael Tringali said it is a rare offering and is almost impossible to find elsewhere in Haberfield.

“The property has an aspirational address and locals dream of living in this part of Haberfield,” he said.

“It is a once in a lifetime opportunity, and if you miss out this time around, you could be waiting another 30 years.”

There is a wine cellar and tasting room on the ground floor.

Mr Tringali said while the property would claim one of the highest sales in Haberfield, the guide still represents value for money.

“It is a fantastic price for everything the house offers right on the doorstep of the CBD,” he said.

“If this was somewhere like Balmain, you would be looking at a guide with a 7 in front of it.”

It has been owned by the current vendors for 33 years.

The two-storey residence has renovated interiors and retains character features like decorative ceilings, sandstone walls, leadlight windows and wooden floorboards. It also has luxury amenities including a wine cellar, tasting room, sauna and a gym/music room.

There is also two kitchens including one with a chef’s gas stove, four bathrooms and ducted airconditioning.

The home still retains plenty of charm.

The property is seeing strong interest from local inner west buyers looking to upgrade to the prestigious address near the City West Link.

Mr Tringali said there are plenty of eager buyers looking to upgrade at the moment in the inner west.

“Anything that is presented well and is in good nick is getting lots of demand,” he said.

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130 Winns Road, Cygnet. Picture: SUPPLIED

THERE is a sense of magic and romance that never fails to inspire when visiting this gorgeous, historic home in Cygnet.

Known as Helmsman’s House, it is owned by noted author and television and film producer, editor, screenwriter and director Posie Graeme-Evans and her husband production director Andrew Blaxland.

The couple bought the property a few years ago and set about a restoration and transformation.

Thinking back to the first time she saw the home, Posie says she “fell in love with the possibilities”.

She also fell in love with the special views.

“That is what knocks people out about Cygnet, and about where we are – the great big long view down to the water and the hills and away,” she said.

“If an aurora turns up, you can see it dance over the far southern horizon, dancing over the water.”

A shining light.

The long view.

A fabulous fire.

Originally the couple came to Cygnet when Posie was finishing a book. She sees the property as a source of inspiration. And she is not the only one that feels its inspiring nature.

“We have some guests that come back three and four times a year,” she said.

“This house is peaceful. It is warm, snug and you can pull it around you like a doona.”

Inspiration for the forthcoming McLeod’s Daughters movie came to Posie while mowing the lawns at Helmsman’s House

“I got this idea, and it is a story that we have never done, it is a different story – I fell in love with it again,” she said.

Helmsman’s House, at No. 130 Winns Road in Cygnet, has caught the eye of house hunters far and wide since it hit the market about a week ago.

It has already been viewed many thousands of times on realestate.com.au and listing agent Amber Leighton of Homelands Property described the reaction from the market as “incredible”, especially given the current conditions.

Get busy in the kitchen.

Period charms abound.

A relaxed space.

“We expected most of the interest would come from interstate and we have taken heaps of people through the home via Skype,” she said.

“They want to learn a bit about Cygnet and often they tell me about how they have dreamt of owning a property such as this one.

“It has all been about the location, the dream, country living, five acres – it is the idea of the lifestyle that is available here.

“And already we have got multiple people talking about making an offer without even setting foot on the property.

“People are wondering, if they don’t secure this property what is the likelyhood that something similar will come to market? It is so slim.”

Helmsman’s House is set on 2ha of land and it took home a Most Romantic Accommodation award at a national showcase.It is easy to see how it secured that honour.

From the position with its commanding views over Port Cygnet Bay to stunning early 1900s cottage, it is bound to exceed andy sea and tree-change expectations.

The Federation era home offers two bedrooms, two bathroom and a wide open living zone with even wider views.

Luxurious comfort.

Take a seat.

Sophisticated interiors.

Accessed via French doors from the open plan living and dining space, there is a large, limestone flagged terrace with a gazebo. An ideal spot to entertain or relax.

A highlight in the living zone is the centrally located Chiminee Phillip double-sided fireplace. Romance? Tick!

The kitchen has been revamped to suit the home’s upgrades and now provides gas cooking, a Smeg oven and celery top pine benchtops.

There are two opulent bedrooms with the master boasting the luxury of an ensuite.

Both bathrooms have a bath, walk-in shower and underfloor heating.

The charming grounds feature a mix of low-maintenance cottage gardens and bird-attracting native plants, with a picking garden of herbs in the kitchen courtyard. The fenced pastures have historically been part of a larger cattle farm, so mineral rich and fertile soils can be expected.

Amber said Posie had given Helmsman’s House its name after the view as it is “like you are on the helm of a boat overlooking the bay”.

She said it was one of the property many fine features.

“I adore the rarity of a property like this, so private and unique and also close to the township,” she said.

“When I appraised the property I was standing at the front looking at the gorgeous, historic architecture and I remember thinking, “everyone will fall in love with this home”.”

So cute from every angle.

Leafy vista.

Come on in.

While letting go is rarely an easy decision, for Posie and Andrew the timing feels right.

Posie said it will be difficult to say goodbye.

“It is beautiful. It was a real pleasure doing it and has so much of us in it,” she said.

“It speaks to the heart, this place, it is deeply romantic… but the time has come.”

No.130 Winns Road, Cygnet is listed with Homelands Property and will be sold by expressions of interest above $1,000,000.

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