Fairfield

A 2015 apartment complex in Melbourne&#39;s Fairfield has seen keen buyer interest given their provision of study nooks.

The latest offering was snapped up in 22 days, after the marketing advised a dedicated study nook added extra work-from-home flexibility to the smart, modern apartment in the heart of Fairfield.&nbsp;

Melbourne&#39;s CBD has seen one of the slowest return to work rates among the capital cities.

The apartment is about eight kms from the CBD.

[smartcode_project:default project_id=2497 project_image_fid=11225]

Situated on the ground floor, there was an attractive paved and landscaped terrace off the living area in the 70 sqm apartment.

It came with an European laundry, car space and storage cage.

It was sold by Woodards agent Andrew Guarino.

The apartment last sold off the plan in 2014 at $425,850.

It was advertised in late 2017 as a $400 a week rental.

<img alt="" height="655" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/nook.jpg" width="997" />

&quot;Sleek finishes paired with oak floors created an engaging living and dining domain, flooded in natural light,&quot; his marketing advised.

There was a Bosch equipped Caesarstone kitchen.

&quot;Lifestyle and location are first-class with the vibrant cafes, restaurants and shopping of Fairfield Village at your door.

&quot;There is easy access to buses and trains, with the added bonus of Fairfield Boathouse, Yarra Bend Park and bike trails within walking distance,&quot; Guarino advised.

The development application lodged with Darabin Council in 2013 sought 35 apartments comprise 14 one-bedroom and 21 two-bedroom dwellings, and 33 car parking spaces in the basement.

The four storey complex replaced two Edwardian era homes.

The $508,000 sale was at 3/62-64 Station Street 

jchancellor

One bedder with study nook fits the bill in $508,000 Fairfield sale

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block of 12 residential units in Fairfield has been sold under the hammer for $3,910,000.
The 1,252 square metre property at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLeGnfqPgIdmzmVW8USMH2yRAUyHv8q5VWPKM4HOTcI/vgbUU40dRApZ3AYyoFpMMFU5rZIBH5YezVayWq2FlwjDRuJXmiKLnlJ&amp;rh=ff0056a07190f28fc36e721b9948b5621bb838d2" target="_blank">30 Railway Parade</a> provides a potential gross income of about $200,408 per annum.
The property was marketed and sold by Ray White Commercial NSW – Western Sydney Associate Director Victor Sheu, Managing Director Peter Vines and Director Joseph Assaf, in conjunction with Stanton Hillier Parker.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/20/unnamed%201%201.jpg" alt="">
Sheu said after a campaign that received more than 85 enquiries, the property sold to a private investor.
“We had interest from Sydney investors, Asian investors, unit traders and local high-net-worth investors from the Fairfield and Cabramatta region, resulting in nine registered bidders on auction day,” he said.
“Developers did enquire on this asset, as it was zoned R4 and capable of being rebuilt into new units, but the investment market at the moment is stronger than development.   “The block had 10 of 12 units occupied at the time of sale and bidding started at $3,000,000. It took more than 30 more bids to climb up to the sale price that was $160,000 over reserve.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/20/unnamed%202.jpg" alt="">
Vines said the Fairfield was similar to Western Sydney in that it attracted a lot of local owners.
“The locals like to stay in their area and a few bidders in attendance were from the region, but what attracted the number of bidders was the investment nature of the property,” he said.
“With the lack of investment opportunities in the market, buyers are eagerly looking for more opportunities where there's an existing income and a flexible exit strategy.
“The market for blocks of units have always performed well amongst private investors due to its low-risk nature.”
Assaf said Fairfield happened to also grasp a lot of Asian attention due to its proximity to Cabramatta.
“It benefits from its close proximity to both Parramatta and Liverpool CBD, which are both booming and looking to increase employment where housing will be required,” he said.
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jonathanchancellor-7SQnKwU6yx

Fairfield residential block sells for $3.91 million at auction 

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There were 13 registered bidders at the weekend mortgagee auction of a contemporary Fairfield residence in Brisbane, but it still went back in price from its sale three years ago.
Geoff Sellars of Ray White Innerly secured had 30 groups through <a href="https://www.realestate.com.au/property-house-qld-fairfield-132082734" target="_blank">124 Brisbane Corso</a> which sold under the hammer for $1.49 million after a massive 92 bids.
It last sold sold at $1,595,000 in 2016.
The 2002-built home has five bedrooms, two bathrooms and a home office.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/29/Brisbane%20mortgagee%202.jpg" alt="">
It features a galley style kitchen with stainless steel European appliances, side by side Highlander gas cooktop, built-in wine fridges and Calcutta marble benches.
A second living area opens to a deck that runs to the swimming pool.
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j.ballantyne1990-6AQqhLzZaK

Contemporary Fairfield mortgagee home sells for $100k loss after 92 bid auction

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An entire block of eight units in Fairfield have been purchased for $2.82 million following post-auction negotiations.
The buyer of 378 The Horsley Drive, Fairfield is a non-profit organisation.
Set on an 828 sqm site, the asset is fully leased with strata subdivision.
<img src="https://f.datasrvr.com/f1/419/24442/Fairfield_2.JPG">
The property was marketed and sold by Ray White Commercial NSW Associate Director and Licensee in Charge Joseph Assaf and Sales Executive Robert Napoli.
Mr Assaf said it was a strong campaign with interest coming from a wide array of potential buyers, including both private and government funded housing providers
“The property is within walking distance to the thriving Fairfield town centre and train station, with all units having recently been renovated with generous floor plans and on-site parking.
“The asset delivers a current passing income of $155,220* p.a. and with value-add potential, and the fact we had four competing bidders on the day, it highlights how much this opportunity was appreciated," he concluded.
<img src="https://f.datasrvr.com/f1/719/83004/Fairfield_3.JPG">
The eight units consist of 7x2 bedrooms and 1x1 bedroom.
It is zoned B4 Mixed Use.
All the units have laundries, mirror built-ins to main bedrooms and the building has two additional storerooms plus a caretakers bathroom.
Situated close to the Fairfield Public School, it's 350 metres away from the Fairfield railway station and the town centre.
Last sold in 2016 as a block of 8, the building sold for $2.3 million despite an asking price of $2.49 million.
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Fairfield apartment building sold post-auction for $2.82 million

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A leased office warehouse 170 Grange Road Fairfield has sold for $1,910,000, $600,000 in excess of the vendor reserve. 
The auction attracted over 50 bids with three bidders fighting it out until the end. 
An established Melbourne private investor family was the successful purchaser
The freehold property has an area of 809 sqm on which is the building area of 702 sqm with a 20 metre street frontage to the eastern side of Grange Road. 
For the business conducted on site there is off-street parking on the property foreground for eight vehicles. 
The tenant Dastech Pty Ltd trading as ‘Cars of France’ holds a four year lease that commenced in January 2017 with one further two year option to renew included. 
The current annual rental is $66,430 gross plus GST to give an indicative net yield at the selling price of 3.1%. 
Gray Johnson director Matt Hoath noted that Grange Road is a major feeder access road to the Fairfield Industrial precinct and the extensive industrial and commercial areas further north to Bell Street Preston in particular. 
“There are major infrastructure works underway around the junction of Heidelberg and Grange Roads."
“We think all these construction works have enhanced the appeal of the Fairfield industrial precinct and the offer of 170 Grange Road was a timely opportunity for investors and land bankers” Mr Hoath says.
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170 Grange Road Fairfield sells for 46% above reserve

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The second Nightingale model project, known as Nightingale 2.0 was submitted for planning earlier this year. Located at 72A Station Street, Fairfield, it has been designed by Six Degrees Architects with James Legge as the lead architect and developer. Following in the footsteps of its predecessors The Commons and Nightingale, the project is an alternative development model which seeks to deliver quality living spaces which enrich the lives of the occupants but also contribute to the streetcape and greater community.

The 5-storey proposal, replaces an existing permit for a nondescript office building of five levels with the permit due to expire in June 2017. Overall the building comprises 20 apartments above three retail tenancies on the ground floor with frontages along Railway Parade and Station Street. The apartments are a mix of four one-bedroom, 12 two-bedroom and four three-bedroom apartments. The tenancies are designed to help with street activation and improve the amenity of the station precinct and engage with the community by inviting them to have a coffee or do their grocery shopping there, depending on the final retail mix.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/nightingale_ground_level_tenancy.jpg" rel="gallery-all" title="Nightingale ground level plan."><img alt="" class="image-article-full-width-580px" height="247" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/nightingale_ground_level_tenancy.jpg?itok=OUPrwWAj" title="Nightingale ground level plan." width="580"></a>

<figcaption>Nightingale ground level plan.</figcaption></figure>The apartments above are all designed with liveability and environmental sustainability as key design drivers. The apartments feature high ceilings, northerly aspect, cross ventilation and natural light to all habitable rooms. In addition to the provision of a private balcony to each apartment, the roof top is dedicated to communal use, containing laundry, clothes lines, vegetable gardens and a large outdoor dining and social environment. While the sense of community can never really be forced onto someone the project seeks to facilitate and foster this and certainly the target market for this type of project would be receptive to the concept.

Externally the building has been designed to be visibly active and inhabited while significantly adding to the amenity of the Railway Place and the station precinct. The building’s elevations will be largely comprised of textured concrete panels, with external walkways on the street side helping to break up the visual bulk of the building and providing access to apartments. This also animates the facade and allows for a degree of passive surveillance to the street below while encouraging resident interaction.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/nightingale_render.jpg" rel="gallery-all" title="Nightingale 2.0 Station Street perspective. Image courtesy Six Degrees"><img alt="" class="image-article-full-width-580px" height="349" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/nightingale_render.jpg?itok=gZ9aMC3P" title="Nightingale 2.0 Station Street perspective. Image courtesy Six Degrees" width="580"></a>

<figcaption>Nightingale 2.0 Station Street perspective. Image courtesy Six Degrees</figcaption></figure>As a general recap for those who may be unaware, the aim of the Nightingale model is to provide quality value for money urban housing by simplifying both the development process and the building itself. Where a lot of projects adopt the more traditional development model of apartments designed to investor specifications for maximum yield.

<blockquote>
Regular people who want their money to create quality, liveable buildings fund the Nightingale Model. It isn't about profit maximisation. Instead, the model seeks reasonable returns whilst maximising social and environmental outcomes through exceptional design.
By way of material reduction, we seek to implement an ideology of simplicity. We envision an architecture governed by humanity and functionality - buildings that satisfy fundamental needs complemented by the beauty of architectural delight.
<cite>Breathe Architecture</cite>
</blockquote>

<figure><a href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/developers-vs-architects.jpg" title="Developer vs Architect" class="colorbox colorbox-insert-image" rel="gallery-all"><img src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/developers-vs-architects.jpg?itok=bnxURXwZ" width="580" height="191" alt="" title="Developer vs Architect" class="image-article-full-width-580px"></a>
<figcaption>Developer vs Architect</figcaption></figure>The Nightingale Model database currently comprises over 800 interested purchasers. During the design process for Nightingale 2.0 the database was surveyed and 180 responses were received from purchasers interested in living at 72a Station Street. The results of the survey directly informed the building design, apartment size and mix. 17% of respondents confirmed a desire to purchase larger 3 bedroom apartments. As a result, along with 1 and 2 bedroom apartments, 4x 102sqM 3 Bedroom apartments have been included in the proposal.

<h2>ESD features</h2>

One of the primary goals of Nightingale 2.0 is to achieve excellent Ecologically Sustainable Design (ESD) performance. Key measures incorporated to achieve this objective include;

<ul>
<li>Highly energy efficient 7.5 star minimum design, supported by double glazed timber windows and high levels of insulation throughout</li>
	<li>No air-conditioning required to maintain comfortable temperature ranges.</li>
	<li>Shared rooftop laundry, veggie garden, bee hives, clothes lines and fireplace.</li>
	<li>Low impact materials including recycled timber floors and low or zero Volatile Organic Compounds (VOCs) in materials and finishes.</li>
	<li>Zero fossil fuels and 100% renewable energy during operation, supported by 15 kW rooftop solar system, high efficiency centralised systems and a bulk purchase of Green Power</li>
	<li>Rainwater reuse for toilet flushing and irrigation, and wicking bed planters for rooftop vegetable garden.</li>
	<li>Integrated sustainable transport, including zero car parking, car share vehicle space (subject to Council approval), 46 secure bicycle parks</li>
</ul>
The development team expects sales on Nightingale 2.0 to commence within three months of successful receipt of a planning permit. The project will then be completed within 12-15 months of construction commencing.
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