Property News Australia.com.au

Unit For Sale Parramatta NSW

Stylish and conveniently positioned to sell quickly

PROPERTY DESCRIPTION
The ESCeN on Church apartments features a striking architectural design and is positioned opposite Westfield Shoppingtown Parramatta and the new Rail Link exchange.

The New 25 storey development ESCeN on the Church features 93 residential apartments, plus four retails outlets.

Price for 44X 1 bedroom units range from $460.000 to $595.000
Price for 46 X 2 bedroom units range from $615.000 to $860.000
Price for 3 X 3 bedroom penthouses range from $1.125.000 to $1.430.000

The ESCeN is to be the tallest residential building and will offer sweeping views of the Sydney CBD skyline and Harbour Bridge to the Blue Mountains.

The building faces East/West and all the units have an easterly aspect.

For the residents benefit there is private recreational area and a 20 meter lap pool to relax and entertain .

The apartments have been designed to consider utilizing the space for the comfort of each Resident including split system air-conditioning.

The kitchens come complete with stainless steel appliances, stone bench tops and natural gas for cooking, including built-in clothes dryer.

Spacious balconies which give added room to entertain your guests overlooking the landscaped courtyard.

For those who live above ground level there is a lift for access to the other levels.

All projects are managed by our property management department (at competitive market rate of 10%) or independently at the clients discretion.

Present time that there is a shortage of rental property within commuting distance to the cities and yields are high where there is demand.

Body corp is from $2509.00 to $1949.93 annually depending on size of apartment

ESCeN on the Church is walking distance to the hum of the café’s, restaurants.
Walk to the premier dining restaurants and a few minutes walk to get fit at the gymns
Secure parking

Apartments have approval from the Australian Government under the “Foreign Investment Review Board” which enables us to sell 50% of our projects to foreign investors.

The cost of acquisition is firstly a holding deposit of $AD1000 in order to take the property off the market. This is fully refundable if purchase does not proceed. A 10% deposit (minus the holding deposit) is then required to exchange contracts (normally within 10 days or longer if pending financial approval). We accept deposits in the form of “deposit bonds”. Each projects “sunset clause” in the contract for sale will determine the length of time the bond is issued for and the cost in accordance with it. Bank guarantee or cash is also another acceptable means of exchange and can be deposited into an appointed and approved “trust account” with the client’s legal representative or held with our company’s independent legal representative or in accordance with clients instructions and approved by us.

Non-resident foreigner mortgages - The mortgage industry in Australia is very competitive and there are a lot of products available, however, the qualifying criteria and supporting documentation are similar across the board. Interest rates are also competitive with each lender and their products vary in accordance with the clients specification. Costs for application and valuation also differs with each lender. We have affiliation with well established companies that would assist in this area when necessary. Further discussions would need to take place with lenders in regard to reduced rates and fees if volume of business was assured. In general, lenders will approve loans to a maximum of 70-80% Loan to Value Ratio (LVR) for foreign investors and the loan approval in principal is normally within 48 hours followed by full approval subject to submission of required documentation.

On conclusion, Australia has a mature economy which produces an abundance of excellent and reliable historical data on all aspects of the real estate market. It has enjoyed fifteen consecutive years of continuous economic growth (Sydney Morning Herald, Feb. 2006), and ranked by the World Economic Forum as the 10th most competitive economy in the world (September 2005).

Relatively low interest rates, favourable foreign exchange rates and property price levels combine to make the Australian real estate market very attractive for foreign investors.

Australia has one of the world’s most stable economic, political and social systems, and is strongly supportive of foreign investment.

The “Economist” magazine, demonstrated by surveys ranked Australia amongst the world’s most attractive lifestyles in the world,
and ideal destination thanks to widespread availability of goods and services, low personal risk and an effective infrastructure. Anholt-GMI awarded Australia the title “The World’s Friendliest Nation”. Australia is also renowned as home to a large variety of people from diverse cultural and ethnic origins.

To view more visit www.realestateguide.com.au/investinginproperty/A0279/