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MILQ Apartments – Settlement Procedure

With MILQ Apartments coming to completion soon, we are pleased to present a message from the Developer on the procedures for settlement.

Great news for investors – MILQ has won the Residential Development Category Award for Australia in the Asia Pacific Property Awards. Congratulations on making a discerning investment in MILQ.

ABOUT MILQ

MILQ lies within the much desired University High School neighbourhood precinct. The University of Melbourne, which is typically ranked among the best universities in the world, is a short walk away to the east. Meanwhile, the green expanse of Royal Park lies to the north, and to the west, past the North Melbourne swimming pool and recreation centre, the Capital City Trail winds its way along the historic banks of Railway Canal to Victoria Harbour, Docklands and the Yarra.

A fifteen minute stroll south brings you to the heart of Flagstaff Gardens, and the city’s bustling epicentre lies just a stone-throw beyond.

Melbourne’s iconic trams stop at nearby Abbotsford Street and Flemington Road, while the Tullamarine Freeway, with its direct link to the airport is just moments from MILQ, and a network of dedicated bicycle lanes extend out in every direction.

North Melbourne, in which MILQ is located, boasts a tight vacancy rate of 1.8%. Its unique position gives investors the opportunity to attract tenants who work in local hospitals or tertiary institutions. In close proximity lies the Royal Melbourne Hospital, the new $1 Billion Victorian Comprehensive Cancer Centre (VCCC), Royal Children’s Hospital, University of Melbourne and RMIT University.

CSI Prop proudly promotes international investment property with high yields at low risk. Our portfolio comprises residential and purpose-built student property in cities across the United Kingdom (London, Luton, Manchester, Liverpool, Newcastle, York, Glasgow, Scotland; Sheffield, etc); Australia (Melbourne, Perth, Brisbane) and Thailand (Bangkok). Our projects are concentrated in high-growth areas with great educational, infrastructural and job growth potentials. We aspire to make a difference in the lives of our clients by helping them achieve their investment goals through strong market research backed by third party experts and due diligence. 

Disclaimer: CSI Prop does not provide tax & legal advice and accepts no liability. Readers are encouraged to consult a qualified tax or legal advisor for a thorough review.

Need advice or clarification? Call us for more information and/or to find out about our projects! Hotline: 03-2162 2260

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Melbourne: Vacancy Tax to Hit Foreign Property Buyers

Foreign buyers who don’t have a tenant in their property (or live in it themselves) for more than 6 months in a year, will be hit with a vacancy tax, effective 1 January 2018. Image credit: sourceable.net

Government measures for affordable housing at expense of foreign investors:

(i) Vacant Residential Property Tax (VRPT)
(ii) New residential developments restricted to only 50% foreign buyers

 

Last month we published an article announcing the latest raft of changes by the government to scrap off-the-plan stamp duty concessions in order to waive stamp duties for first-time buyers of houses worth up to $600,000 in Melbourne. (Click HERE to access the article).

More restrictions are in store for foreign investors. The Victoria government has also now effected a vacancy tax (Vacant Residential Property Tax or VRPT) which will will cost foreign buyers who don’t have a tenant in their property (or live in it themselves) for more than 6 months in a year, an annual penalty of 1% of the property’s capital-improved value. This means investors with a home worth $500,000 will pay $5,000 in tax if they don’t rent the place out.

The tax takes effect on 1 January 2018 and will target homes around inner and middle suburbs of Melbourne. This would include the following local council areas: Banyule, Bayside, Boroondara, Darebin, Glen Eira, Hobsons Bay, Manningham, Maribyrnong, Melbourne, Monash, Moonee Valley, Moreland, Port Phillip, Stonnington, Whitehorse and Yarra.

At press time, it is still unknown how the new tax will be applied or policed, but a on the State Revenue Office (SRO) of Victoria website states that the tax will be self-reporting, i.e, owners of vacant residential property will be required to notify the SRO of any vacant properties they own.

Meanwhile, moving forward, developers can only sell 50% of properties in new developments to foreign buyers. This means that at least 50% of new homes will be sold locally.

The suite of changes introduced by the government has drawn mixed reactions from the public and industry players. Some agree that it is a great move towards housing affordability, but there are parties — including from within the party — that have criticised this move.

What’s clear is that while this is a populist move that brings in the votes, it is a temporary measure that could cause the property market to remain on the boil.

CSI Prop proudly promotes international investment property with high yields at low risk. Our portfolio comprises residential and purpose-built student property in cities across the United Kingdom (London, Luton, Manchester, Liverpool, Newcastle, York, Glasgow, Scotland; Sheffield, etc); Australia (Melbourne, Perth, Brisbane) and Thailand (Bangkok). Our projects are concentrated in high-growth areas with great educational, infrastructural and job growth potentials. We aspire to make a difference in the lives of our clients by helping them achieve their investment goals through strong market research backed by third party experts and due diligence. 

Disclaimer: CSI Prop does not provide tax & legal advice and accepts no liability. Readers are encouraged to consult a qualified tax or legal advisor for a thorough review.

Need advice or clarification? Call us for more information and/or to find out about our projects! Hotline: 03-2162 2260

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The Residence – APR 2017

On behalf of the developer, we bring you the latest updates from the construction site of The Residence in Manchester, UK. Kindly click on the image below to enlarge and flip pages.

The appointed main contractor began work in April and as such progress is at preliminary stages. Hoarding boards have already been placed. Among the works that will take place over these two months are:

  • Explosive testing ordnance on site
  • Existing wall removal
  • Piling works for basement carpark walls
  • Plate testing and excavations, and more.

About The Residence

The Residence is only a few minutes’ walk from Manchester City Centre. It sits at the doorstep of Spinningfields (The Canary wharf of the North), Manchester’s main shopping and commercial district and Deansgate, the financial district of the city. The Residence occupies a prominent position within the stunning new £400 million Greengate Masterplan Project and, upon completion, will be one of the tallest residential buildings in the city, making it highly desirable for tenants. The regeneration of Greengate is expected to unlock £400 million of investment over the next 15 years.

PROJECT DETAILS

Location
Greengate, Salford, Manchester

Total units
300 units over 33 floors

Unit Configuration
1-bedroom, 2-bedroom & 3-bedroom

Lease
250 years

Starting Price
£126,000

Financing
Available – Bank of China & HSBC

Guaranteed Yield
7% nett p.a. for 3 years

Facilities
Concierge
Golf simulator
Restaurant
Modern gym
Car Parking


CSI Prop proudly promotes international investment property with high yields at low risk. Our portfolio comprises residential and purpose-built student property in cities across the United Kingdom (London, Luton, Manchester, Liverpool, Newcastle, York, Glasgow, Scotland; Sheffield, etc); Australia (Melbourne, Perth, Brisbane) and Thailand (Bangkok). Our projects are concentrated in high-growth areas with great educational, infrastructural and job growth potentials. We aspire to make a difference in the lives of our clients by helping them achieve their investment goals through strong market research backed by third party experts and due diligence. 

Disclaimer: CSI Prop does not provide tax & legal advice and accepts no liability. Readers are encouraged to consult a qualified tax or legal advisor for a thorough review.

Need advice or clarification? Call us for more information and/or to find out about our projects! Hotline: 03-2162 2260

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UK General Election and the Housing Market [VIDEO]

The UK general election was called on 18 April. Unusually, news of the UK general election was not leaked, preventing a lengthy build-up in the housing markets. Virata Thaivasigamony, spokesperson of CSI Prop shares his views on the subject.

Click on CC for subtitles. Or else, feel free to read the full transcript below:

The Prime Minister’s call for a UK general election in (less than 6 weeks) was a surprising one. There are pros and cons, of course. The UK general election is an opportunity for the new government to create policies and a clean slate to do something for the voters. We all know that the no. 1 thing on voters’ minds are housing affordability and shortage of housing.

On the day of the Prime Minister’s announcement, the pound dropped then rose to its highest level in weeks. In fact, it’s been on an upward trajectory since. IMF revised its prediction of the growth of the UK economy from 1.5% to 2%. Even Deutsche Bank, who has been very critical of the sterling, reversed its stance, citing the election as a game changer.

We at CSI Prop predicted that the pound would drop immediately after Brexit then rise — which is exactly what happened. It is our sense that the pound will continue to rise over the coming months.

The UK housing market has been a resilient one over the years. However, there will be uncertainty leading to the elections. Major decision-making may be put on hold until the election results are out.

But the uncertainty will be relatively short as there has been no news of the UK general election that was leaked. This prevented a lengthy buy-up that would have otherwise affected the housing market.

Ultimately, there is a critical shortage of housing in the UK. Demand continues to outpace supply so it’s only logical that for many years to come, prices will continue to remain high.  However, the UK general election is an opportunity for the new government to start on a clean slate and make changes that will affect the housing market. Of course, we hope that the government will revisit policies affecting landlords, foreign investors, and the buy-to-let market. After all, these people are key to ensuring housing supply in the UK.

Theresa May’s domestic agenda is to “build a country that works for all”. It is our sense that if she wins, she will have more flexibility to make compromises to ask for a more moderate deal for Brexit without being beholden to groups interested in a hard Brexit, or even support from her very own party. This should have a positive impact on the UK economy and the pound sterling which is great news for investors taking advantage of the favourable exchange rates.

It’s premature at this point for anyone to guess who will win the UK general election. We will of course continue to monitor developments in the market and keep you posted. Suffice it to say, regardless of who wins, the housing crisis and shortage of housing (in the UK) isn’t going anywhere.

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CSI Prop proudly promotes international investment property with high yields at low risk. Our portfolio comprises residential and purpose-built student property in cities across the United Kingdom (London, Luton, Manchester, Liverpool, Newcastle, York, Glasgow, Scotland; Sheffield, etc); Australia (Melbourne, Perth, Brisbane) and Thailand (Bangkok). Our projects are concentrated in high-growth areas with great educational, infrastructural and job growth potentials. We aspire to make a difference in the lives of our clients by helping them achieve their investment goals through strong market research backed by third party experts and due diligence. 

Disclaimer: CSI Prop does not provide tax & legal advice and accepts no liability. Readers are encouraged to consult a qualified tax or legal advisor for a thorough review.

Need advice or clarification? Call us for more information and/or to find out about our projects! Hotline: 03-2162 2260

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Lantern – MAY 2017

On behalf of the developer, we present May 2017 updates from the construction site of Lantern apartment in Collingwood, Melbourne.

There has been marked progress on the site of Lantern apartment and this is evident in the images and update provided by the developer. With site set up, bulk excavation and basement works complete, the next four phases of construction is now ongoing and we are looking at a late 2017 settlement.

About Collingwood

Collingwood is one of the hottest property spots for young professionals. Hip, happening and increasingly gentrified, it is home to some of Melbourne’s best food and retail outlets, art, culture and fashion. This former industrial hub is now a magnet for creative people – artists, musicians, designers and their ilk.

Nestled between Ftizroy Garden’s miniature village (South), Yarra Boulevard’s cyclist and kayaker haven (East) and Carlton Gardens’ historical, manicured lawns (West), Lantern is centrally located. It cuts a striking silhouette in this modern Melbourne suburb. Head to Smith Street – just one block away from Lantern – for a trip to the vintage boutiques, inventive bars, street art, amazing eateries and lots of shopping.

Investment Highlights

  • 0.7% vacancy rate, tighter than Melbourne’s 4.4%
  • Only 3.2km to the CBD
  • Only 2.1km to Melbourne Uni
  • Accessibility: the iconic tram 86!
  • Increase in property median pricing in Collingwood
  • Average household income is 10% higher than Victoria
  • >50% of Collingwood population are young professionals and in managerial roles

Project Highlights

  • European-style kitchens
  • Upscale Bosch appliances
  • Porcelain benchtops & splashbacks
  • Grey oak timber floorboards
  • Roof top recreation deck & al fresco dining
  • 24-hr CCTV security & access to selected floors
  • Car parking for selected units

CSI Prop proudly promotes international investment property with high yields at low risk. Our portfolio comprises residential and purpose-built student property in cities across the United Kingdom (London, Luton, Manchester, Liverpool, Newcastle, York, Glasgow, Scotland; Sheffield, etc); Australia (Melbourne, Perth, Brisbane) and Thailand (Bangkok). Our projects are concentrated in high-growth areas with great educational, infrastructural and job growth potentials. We aspire to make a difference in the lives of our clients by helping them achieve their investment goals through strong market research backed by third party experts and due diligence. 

Disclaimer: CSI Prop does not provide tax & legal advice and accepts no liability. Readers are encouraged to consult a qualified tax or legal advisor for a thorough review.

Need advice or clarification? Call us for more information and/or to find out about our projects! Hotline: 03-2162 2260

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RIMA – MAY 2017

On behalf of the developer, we present May 2017 updates from the construction site of Rima in the lively Brunswick East quarter of Melbourne, Australia.

Work is still in the preliminary stage, however, this is one of the most crucial parts of construction. At this point, the site has already been set up, while bulk excavation and basement works are ongoing.

Located on 22 Lygon Street, RIMA is surrounded by some of the most popular retail institutions, watering holes and eateries in the city. It is in perfect proximity to two of Australia’s finest universities – the University of Melbourne and RMIT University, Brunswick. Everything is a tram or bus ride way!

Design-wise, RIMA is a polished ensemble of clean lines, steel and glass, whilst the interiors offer spectacular views, well-configured and seamless spaces and abundant natural lighting. RIMA’s rooftop club is a fabulous hideaway from the hectic Brunswick and Lygon pace, complete with a terrace lounge with open fire place, dining area with barbecue, teppanyaki grill, bar and a cosy outdoor cinema – surrounded by uninterrupted views of the city; a perfect spot for entertainment.

RIMA Investment Highlights

  • Capital growth averaging 5.06% p.a. over the last 10 years (translates to more than 70% growth over 10 years, making a $500K apartment worth $850K)
  • Vacancy rates of 2.1% (vs 2.9% in Metropolitan Melbourne)
  • 28.6% are within the 25 – 34 age group (vs 15.4% in Greater Melbourne)
  • Residents able to pay higher rental – 17.4% earn more than $1,500 per week (vs 12.9% in Greater Melbourne)
  • Only 10 mins from University of Melbourne and 12 mins from RMIT University
  • Only 3km to Melbourne CBD
  • Convenient public transportation: tram & bus

CSI Prop proudly promotes international investment property with high yields at low risk. Our portfolio comprises residential and purpose-built student property in cities across the United Kingdom (London, Luton, Manchester, Liverpool, Newcastle, York, Glasgow, Scotland; Sheffield, etc); Australia (Melbourne, Perth, Brisbane) and Thailand (Bangkok). Our projects are concentrated in high-growth areas with great educational, infrastructural and job growth potentials. We aspire to make a difference in the lives of our clients by helping them achieve their investment goals through strong market research backed by third party experts and due diligence. 

Disclaimer: CSI Prop does not provide tax & legal advice and accepts no liability. Readers are encouraged to consult a qualified tax or legal advisor for a thorough review.

Need advice or clarification? Call us for more information and/or to find out about our projects! Hotline: 03-2162 2260

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London Spring Place (Opto House) Block C – MAR 2017

On behalf of the developer we are pleased to present the latest updates from the contruction site of London Spring Place (Opto House) Block C in Luton, UK. The update is as at end March 2017. Kindly click on the image below to acccess, enlarge or flip the pages of the report.

Works on Block C have begun and progressing well on site. According to the developer, target completion of Q4 2017 is on track. Here is a summary of works to date, which include:

  • Demolition of existing buildings complete
  • Sheet piling works complete
  • Below ground drainage complete
  • Concrete retaining walls and groundworks complete
  • Steel frame erection progressing well and due for completion 12th May
  • External sewer connection is now complete and more (double click on the image above to access the report)

London Spring Place Highlights 

London Spring Place is a brand new, purpose-built student accommodation development comprising fully-managed en-suite rooms and self-contained studio suites across three blocks. En-suites are arranged in clusters of 6 with access to a communal living area and kitchen. Self-contained studio suites will contain en-suite bathrooms and a fully functional kitchenette.Beautifully furnished with a wide range of amenities and facilities, London Spring Place is one of the most ideal student accommodations in the region. It is located within walking distance to the University of Bedfordshire, the shopping mall, and the train station with easy and convenient access to central London in 22 minutes!

Investment Highlights

  • 8% NET p.a. assured for 5 years
  • No bad debt as parental guarantor in place
  • 24,000 students but less than 5,000 available purpose-built beds
  • 250-year leasehold
  • 3% interest paid on deposited funds
  • Established Developer with exemplary track record
  • Target completion date September 2017

    Specifications
  • En-suite and studio suites
  • 24 hour CCTV security and controlled building access
  • Communal courtyard
  • Fully equipped state-of-the-art gym
  • Cinema room
  • Onsite management team & manned reception
  • Lounge area with LCD TVs
  • Study and meeting rooms
  • Visitor parking
  • Games room with pool table & gaming stations
  • Onsite laundry
  • Outdoor leisure and sports facilities to include beach volleyball, basketball, table tennis &
    an outdoor cinema


CSI Prop proudly promotes international investment property with high yields at low risk. Our portfolio comprises residential and purpose-built student property in cities across the United Kingdom (London, Luton, Manchester, Liverpool, Newcastle, York, Glasgow, Scotland; Sheffield, etc); Australia (Melbourne, Perth, Brisbane) and Thailand (Bangkok). Our projects are concentrated in high-growth areas with great educational, infrastructural and job growth potentials. We aspire to make a difference in the lives of our clients by helping them achieve their investment goals through strong market research backed by third party experts and due diligence. 

Disclaimer: CSI Prop does not provide tax & legal advice and accepts no liability. Readers are encouraged to consult a qualified tax or legal advisor for a thorough review.

Need advice or clarification? Call us for more information and/or to find out about our projects! Hotline: 03-2162 2260

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Falkner Place – MAR 2017

On behalf of the developer, we are pleased to present the latest updates from the construction site of Falkner Place in Liverpool, UK. This update is as at end March 2017. Kindly double click on the image below to access, enlarge and flip the pages of the report.

Work on Falkner Place is shaping up nicely. Below is a summary of works that have been completed so far, which includes:

  • Steel frame complete
  • Both staircases installed
  • Roofing 60% complete
  • Dry lining walls commenced
  • Window 30% installed & more (please double click the image above to access the report)

About Falkner Place 

Introducing Falkner Place, a new Georgian-inspired residential property investment located in the affluent Georgian Quarter of Liverpool. This impressive project will see 109 residential apartments built, ranging from studios, 1-bed, 1-bed duplex and 2-bed duplex units.

Falkner Place at the Georgian Quarter is just a short walk from Liverpool’s city centre and its main attractions, hospitals and universities. Residents will be well-positioned to capitalise on the continued regeneration of Liverpool’s city centre and its surrounding area.

Highlights 

  • From £89,950
  • 7% nett yield
  • 3 years rental assurance
  • Prestigious address
  • Walking distance to universities & hospital
  • Great transport links
  • 10mins to the city centre
  • Impressive on-site facilities


CSI Prop proudly promotes international investment property with high yields at low risk. Our portfolio comprises residential and purpose-built student property in cities across the United Kingdom (London, Luton, Manchester, Liverpool, Newcastle, York, Glasgow, Scotland; Sheffield, etc); Australia (Melbourne, Perth, Brisbane) and Thailand (Bangkok). Our projects are concentrated in high-growth areas with great educational, infrastructural and job growth potentials. We aspire to make a difference in the lives of our clients by helping them achieve their investment goals through strong market research backed by third party experts and due diligence. 

Disclaimer: CSI Prop does not provide tax & legal advice and accepts no liability. Readers are encouraged to consult a qualified tax or legal advisor for a thorough review.

Need advice or clarification? Call us for more information and/or to find out about our projects! Hotline: 03-2162 2260

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London Spring Place (Opto House) Block B – MAR 2017

On behalf of the developer we are pleased to present the latest updates from the contruction site of London Spring Place (Opto House) Block B in Luton, UK. The update is as at end March 2017. Kindly click on the image below to acccess, enlarge or flip the pages of the report.

Works are progressing well on site and reported on target for completion September 2017.

A summary of works to date include:

– All piling works have been completed, cropped and tested
– Ground beams and pile caps complete
– Below ground drainage complete
– Beam and block ground floor complete
– Steel frame complete and more.. Click on the image above to access the full report

London Spring Place Highlights 

London Spring Place is a brand new, purpose-built student accommodation development comprising fully-managed en-suite rooms and self-contained studio suites across three blocks. En-suites are arranged in clusters of 6 with access to a communal living area and kitchen. Self-contained studio suites will contain en-suite bathrooms and a fully functional kitchenette.Beautifully furnished with a wide range of amenities and facilities, London Spring Place is one of the most ideal student accommodations in the region. It is located within walking distance to the University of Bedfordshire, the shopping mall, and the train station with easy and convenient access to central London in 22 minutes!

Investment Highlights

  • 8% NET p.a. assured for 5 years
  • No bad debt as parental guarantor in place
  • 24,000 students but less than 5,000 available purpose-built beds
  • 250-year leasehold
  • 3% interest paid on deposited funds
  • Established Developer with exemplary track record
  • Target completion date September 2017

    Specifications
  • En-suite and studio suites
  • 24 hour CCTV security and controlled building access
  • Communal courtyard
  • Fully equipped state-of-the-art gym
  • Cinema room
  • Onsite management team & manned reception
  • Lounge area with LCD TVs
  • Study and meeting rooms
  • Visitor parking
  • Games room with pool table & gaming stations
  • Onsite laundry
  • Outdoor leisure and sports facilities to include beach volleyball, basketball, table tennis &
    an outdoor cinema


CSI Prop proudly promotes international investment property with high yields at low risk. Our portfolio comprises residential and purpose-built student property in cities across the United Kingdom (London, Luton, Manchester, Liverpool, Newcastle, York, Glasgow, Scotland; Sheffield, etc); Australia (Melbourne, Perth, Brisbane) and Thailand (Bangkok). Our projects are concentrated in high-growth areas with great educational, infrastructural and job growth potentials. We aspire to make a difference in the lives of our clients by helping them achieve their investment goals through strong market research backed by third party experts and due diligence. 

Disclaimer: CSI Prop does not provide tax & legal advice and accepts no liability. Readers are encouraged to consult a qualified tax or legal advisor for a thorough review.

Need advice or clarification? Call us for more information and/or to find out about our projects! Hotline: 03-2162 2260