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Sydney Inner west apartments: 32/21-25 Coulson street, Erskineville

Unit 32, 21-25 Coulson street, Erskineville 1

FOR SALE: 32/21-25 Coulson street, Erskineville, Sydney

Apartment 2 bed, 2 bath, 1 car

Refurbished 2007

Size 85 sqm internal space including ground floor courtyard. It has security car space of 12.65 sqm and  a separate storage facility of 4.2 sqm.

Asking price Close to the mid $600k’s.

Erskineville is known for its vibrancy in terms of an alternative lifestyle among Sydney’s hip and Bohemian. This suburb is a mere 4.5km from Sydney CBD and 2km from the University of Sydney.

Location wise, this apartment is ultra convenient whereby it is within 300 metres to the St Peters train station, a 3-stop train ride to Central station. It is also within walking distance to the cafes and restaurants along King street in Newtown and Erskineville village shops and cafes.

This building was previously a light industrial premise but is now known as Star Printery Apartments. It has since been fully refurbished with modern conveniences and the professional team involved in this project include Turner & Associates architects and builder DeiCorp.

The apartment has 2 bedrooms both with built-in wardrobes opening out to an east-facing enclosed courtyard. The main bedroom has an ensuite.

Erskineville has been identified by Peter Koulizos, author of Top Australian Suburbs as one of the best areas to invest in 2010 along with other inner west suburbs such as Alexandria, Enmore and Darlington.

The downside to this property is that it may experience train noise due to its close proximity to the tracks.

Related posts:

Vital statistics

Erskineville Median price $ Weekly advertised median rent $ Gross yield $ 3-year growth % 5-year growth % Average annual growth %
Apartment 490,000 500 5.3 22.5 16.7 6.8
House 650,000 570 4.56 15.04 14.04 7.3

Source: RP Data, June 2010

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

How it’s calculated:

Median price: Median price for the 12 months to February 2010

Average annual growth: Average percentage change over the past 10 years as a per annum figure

3 and 5-year growth: Median price percentage change over the past 3 and 5 years to February 2010

Weekly median advertised rent: Median price of rental listings for the 12 months to February 2010

Gross yield: Estimated rental return, based on advertised rent to median price

Motto vs Verve, Erskineville


Comparative analysis of 2 new developments in Erskineville ~ Motto vs Verve

Development

Motto

Verve

Developer

Austcorp AV Jennings
Architect Allen Jack & Cottier

Turner & Associates
Location

2, Nassau Lane, Erskineville 2 – 4 Coulson street, Erskineville
No. of units

90 one bedroom units

56 two bedroom units

11 three bedroom units

200 units

102 units
Facilities

Outdoor pool, gym, 1 cafe / retail outlet None
Proximity to train station

600m to Erskineville train station, 700m to St Peters train station 400m to St Peters train station, 800m to Erskineville train station
Quality of finishes and inclusions

(Please refer to inclusions) (Please refer to inclusions)
Price:

1 bedroom

2 bedroom

3 bedroom terrace / 3 bedroom

From $470k

From $585k

From $925k

From $465k

From $534k

From$770k

*Average price per sqm $

1 bedroom

2 bedroom

$6.0k

$5.5k

$5.5k

From $5.2k

Estimated completion date

Completed

20 December 2009

*Based on Asking price of typical unit divided by total internal and external living areas only (does not include car park and storage space).

Verve is closer to the train station although the north aspect of Verve is fronting Coulson street. Traffic noise can be an issue along Coulson street. Units fronting the north west corner of Coulson street will experience noise from the trains.

Motto is located on the corner of Eve street and Nassau Lane. Although slightly further from the train station, there is less traffic noise around its vicinity. The inclusions and finishings for Motto is of higher quality than Verve. Motto offers an outdoor pool and gym whilst there are no facilities for the Verve development. Investors should confirm approximately strata levies for both development.


Australia Towers, Sydney Olympic Park


Australia Towers

The centre-piece of the Sydney Olympics in 2000, Sydney Olympic Park at Homebush Bay now consists of a lot more than the infrastructure which were built for the games. Residential apartments, commercial complex and retail shops now service approximately 30,000  residents who call the Sydney Olympic Park home.

Location

Australia Towers is located approximately 18km to the west of Sydney CBD at the heart of the Sydney Olympic Park village. In its local precinct, it is within walking distance to the Olympic Park sporting facilities, business district, cafes restaurants and hotels.

Australia Towers is also within close walking distance to the Sydney Bicentennial Park, Blaxland Riverside Park, Wentworth Common which comprise vast areas of natural parkland, bays and inlets. Homebush Bay in itself, is a water inlet of the Parramatta river which runs through the Homebush Bay suburb.

It is accessible via the main arterial Parramatta road and the M4 Western Motorway. Public transport to Homebush include the trains, buses and ferry. Cityrail operates both the Homebush train station and Olympic Park train station. The ferry operates off the Hombush Bay ferry wharf.

A transport info and map for this location.

The development

Developed by Billbergia Group, Australia Towers consists  of   units of 1, 2 and 3 bedroom apartments with a wide selection of layouts and designs by Garth Barnett Designers and Turner and Associates architects.

The attraction of this development is the outdoor lifestyle and vast open spaces which is very conducive for young families and professionals.

The median apartment price for Homebush Bay as at 30 June 2009 is $470k.


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