Feature Editorial

For the past ten years quality rental properties in Melbourne’s ever popular fringe suburb of Fitzroy have been few and far between with renters scrambling to secure their slice of inner suburban lifestyle.

In a bid to bridge this gap in affordable yet quality inner city properties across Melbourne, boutique development firm, Hampton Property Group have provided the ideal solution with the launch of its newly completed ‘Abito’ project.

Located at 69 Victoria Street less than 15 metres from Brunswick and Johnson Streets; Abito is an architectural delight offering 35 apartments in a highly sustainable building designed to lower energy and water consumption with all the comforts of modern city living.

With just 13 remaining for sale and approximately 30 per cent of sales owner occupied, Abito have attracted first and second time buyers, investors, those seeking a city pad as well as a healthy cross section of the rental market.

Joint managing directors, Steve Buxton and Paul Hameister, said they were not surprised that buyers at Abito have been inundated with rental requests almost immediately upon settlement of their various apartments.

“ Our early research reports by Charter Keck Cramer clearly identified a significant apartment shortage in Fitzroy and surrounding suburbs with renters as well as buyers clamouring for any stock available.”

According to Mr Buxton, just two months post completion Abito is already averaging a healthy five percent yield.

“ If this interest continues as we expect It is possible we will see yields at between 5.5% and 6% within the next 12 months making Abito an attractive city fringe investment opportunity."

Mr Buxton said the findings were clear evidence of a surging rental market desperate for quality rental stock in the city fringe.

“ That coupled with the fabulous Fitzroy lifestyle, cafe and night culture, it’s artistic heritage and grungy aspect it has been a popular destination for people of all walks of life.”

Apartments range in size from studio to larger two bedroom option and prices starting from $350,000 to $599,000.

For further sales information please contact 1300HAMTON or visit www.abito-fitzroy.com