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Chance to own luxury Melbourne apartments
Published on: Sunday, June 18, 2017

Kota Kinabalu: Sabahans who often travel to Australia and those planning to migrate to the country should look up an upcoming housing development called Yarra One that offers 268 units of luxury apartments in Melbourne.

The residential property that will rise above Melbourne's most exclusive locale is being developed by Australian developer, Eco World – Salcon Y1 Pty Ltd, and will be completed by mid-2020 with its construction works commencing at the end of this year.

Yarra One is to be developed in South Yarra, an inner suburb of Melbourne, Victoria, and home to some of Melbourne's most prestigious residential addresses.

Potential buyers have a choice of one bedroom (56 square metres), two bedrooms (75 square metres) and three bedrooms (100 square metres) in the project.

Its sole property agent, SGP Esteem Pte Ltd's General Manager for Marketing, Vincent Tee, said the property is now left with 80 units as 70 per cent of the units have been booked.

"This luxury apartment is situated in a very strategic and great location in the city's most exclusive address at Claremont Street that connects Yarra Lane to Daly St to the Chapel Street. It is also near to a shopping area in Toorak Road and a shopping street known as Phrahan Market.

"Those owner occupiers of the units would be fortunate as they could meet their home shopping needs, including for daily essentials, at Chapel Street which is a high-end shopping area with restaurants, eateries and high-end fashion. It is also minutes' walk to the South Yarra train station with two stops into the Central Business District (CBD).

"Those who have children can also send them to Melbourne High School which is a top school in Melbourne and only children who live two kilometres within the vicinity can register at the school besides other prestigious education institutions," he said.

Tee said this to Daily Express during its two-day property exhibition at Function Room 6, Pacific Sutera Hotel from 10am until 6pm, beginning Saturday.

On June 20 and 21, he will be in Sandakan and Tawau, respectively, and can be contacted at 013-3336618 for appointments.

Tee said the apartments are fully renovated and will come with quality kitchen cabinets and equipped with Miele (high-end brand name) appliances like dishwasher and induction cooker, built-in wardrobe, interior design bathroom, timber flooring to living and dining, among others.

The apartment building, he said, would have a lobby concierge, a yoga room, gym, private kitchen/dining, a library, a wine cellar for the owners to keep their wines, public piazza/state of art podium at the ground floor and a roof top garden with BBQ area.

"Among our target customers for the project are businessmen, investors and those who have families and wish to send their children for schooling in Australia as well as those who plan to migrate there.

"The Australian Government allows foreigners to own property as it is a land of migration except for the aborigines.

In fact, the net migration to Australia is about 80,000 people," he said.

Tee said those who are interested to buy the units are encouraged to decide fast as after July 1 this year, they would be subjected to pay stamp duty that has been increased by five per cent for its contract of sales.

Hence, he said they could enjoy huge stamp duty savings when they buy or book the units before July 1.

Furthermore, he said those who invest in the units would generate high rental return of five to six per cent as South Yarra is the top choice of the locals there and has strong capital growth and rental demand.

With the coming China One Belt, One Road initiative which also involves Australia and completed in 20 years' time, Tee said the commodities investment will grow in Australia and the economic spin-offs will include the property sector, including the Yarra One project.

To a question, he said the property exhibition is being held in Sabah this month as they wish to facilitate the people in Sabah rather than them having to travel to Kuala Lumpur to browse for upcoming Australian properties to invest or to own.

He said those interested to buy the units need to pay the booking fee and 10 per cent deposit, while the rest can be paid after the completion of the project.

Tee said they can apply for bank loans either in Malaysia, Australia and Singapore and a mortgage consultant would be engaged for them to consult which bank loans suit their needs. - Hayati Dzulkifli

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