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| Image: Water views from dining room of 2-21 Cleveland Terrace North Ward Top Price Winner - Townsville Photo: Remax |
This week’s winner
3/21 Cleveland Terrance North Ward
This week’s residential property Top Price Winner of the Week features gorgeous panoramic views of Townsville’s iconic coastline, islands, marina and The Strand. Unlike TREN’s usual top price property winners, this property is a 3 bedroom villa in a unit complex comprising a total of three dwellings.If you could imagine having your own eagle’s nest for a home, this North Ward property presents such beautiful outlook of Townsville’s entertainment and tourism strip, you could feel like the jewel of Townsville’s crown is resting in the palm of your hand too.
What a privilege for the buyers of this property to secure such a precious gem for their exclusive enjoyment.
Watching over Magnetic Island and the more distant Palm Islands in the Coral Sea, The Ville Casino, ships of trade, military and cruising, charter and recreation boats in the marina, beach goers and bathers, wildlife on the land and sea, romantic sunrises and endless sunny days, who else can think of a better way to share conversations and a icy cold beverage on a hot summer's day?
It comes as no surprise to a seasoned marketing professional that this property blew the median price for units in North Ward right off the top price charts.
This 166m2 beauty is less than 500 metres from two of Townsville’s most prestigious Catholic schools and just a short 5-minute walk to the heart of Townsville City where you can feast on the culture, markets, boutique retail and convenience shopping, great cafes and restaurants of the Capital of North Queensland.
The property sold for $917,500 well over the median price for 3 bedroom units in North Ward which are currently sitting at $484,500. The median price for all classes of units in North Ward is $250,000.
But what is even more impressive for the sales agent Ms. Michelle Hyde from Remax and the vendor, is the fact that the unit exceeded the median price for houses by $417,500. House price medians are currently $500,000 for North Ward.
The ever humble and respectfully courteous, Ms. Hyde said; “the views from the balcony and most of the rooms are truly breathtaking, the finishes are quality throughout, and the sense of seclusion is superb.”
The property
Ms. Hyde was very excited when she spoke to TREN eMagazine about the sale reporting that "there was a lot of interest in the property and the vendor received an offer before the property was put out to the market".
In the online listing of the property, Ms. Hyde also said;
“Is this the very best view from any apartment in Townsville?
It's the outlook everyone wants - true north facing - a spectacular panorama stretching from the Palm Group, past Pallarenda, Magnetic Island and round to the Casino and Port. There's always something wonderful to watch, whether it's the ferry going across to the island, the ships out on the horizon, or people relaxing along the Strand below.
The classic interior of the apartment is timeless - living spaces are generous, and tiled throughout. The living room spills effortlessly to the covered verandah, where you'll spend your days gazing out to the ocean and marveling at your good fortune of owning this view.
The kitchen has been updated with the latest luxury appliances - a Siemens oven rises up and down for ease of access, there's an induction cooktop, 2-drawer F & P dishwasher, and a servery to the deck outside.
The family bathroom is tiled floor to ceiling, and the laundry is cleverly hidden in here behind sliding doors. The marble ensuite is as opulent as you'd expect, with spa bath, bidet, lots of vanity space and an intriguing porthole window to that wondrous view.
All three bedrooms are of generous size, and the third bedroom is tiled and has been used as a study. Bedroom 2 has a charming window seat, and a whole wall of built-in mirror robes and the master bedroom is sumptuous in the extreme. It has no fewer than 6 walls, 4 of which have windows.
Opening directly to the deck, you can take in the early morning sunrise either from bed or over a coffee on the deck. There's another wall of mirror robes, as well as a beautifully appointed dressing room, to accommodate the most extensive wardrobe!
The quality of this apartment cannot be overstated, and because it has been updated regularly, it is like a new home. With just two neighbours in the block, you will really enjoy exclusive living at Villa Leanda, 3 at 21 Cleveland Terrace.
• Level access from the street, one of just three apartments in the complex
• Spectacular panoramic views from kitchen, master bedroom, living and dining areas and verandah
• 3 bedrooms, two carpeted and with built-in robes, the third used as a study
• Master bedroom has superb views, 4/6 walls with windows, dressing room and built-in robes, and luxury ensuite
• Verandah stretches the front of the apartment and has direct access from master bedroom
• Kitchen is gourmet - granite benchtops, state-of-the-art Siemens oven rises and falls to the bench level - and has servery to the verandah
• Lock-up garage + carport
An apartment like no other in Townsville - the views are truly breathtaking, the finishes are quality throughout, and the sense of seclusion is superb.”
Investment profile
The suburb of North Ward is one of the most prestigious suburbs in Townsville with an average annual income of $1,325 per week and a population of 5066 based on the 2016 Census.The suburb has a current median house price of $500,000, while just twelve 12 months ago, recorded a median house price of $651,000.
North Ward has a greater number of unit dwellings then there are houses.
The number of unit sales over the past 12 months (till Dec 2016) is 103 units while house sales reached just 43 in total for the same period.
75.7 percent of dwellings in North Ward are apartments, flats, townhouses or semi-detached units. 24.4% of dwellings have 3 bedrooms with 1.9 people per household (2016 Census).
Achieving a sale price of $917,500, the weekly top price property at Unit 3/21 Cleveland Terrace will impact the median sale price for the area significantly as it is $433,000 above the current median sale price for 3 bedroom units, and $667,500 above the median unit price overall for the suburb.
The Townsville market is showing signs of a recovery on the back of increased business confidence, development stimulation and industry investment.
In the context of Townsville's subdued prices over consecutive years, this prestigious lifestyle property presents an excellent investment opportunity in an area recently highlighted by the Pure Projects tourism branding report for development. This includes a proposed development of a massive infinity pool on the Strand directly in clear sight from this property.
Driven by a clear investment strategy of location, location, location, this excellent elevated villa apartment close to metropolitan infrastructure and significant public attractions was purchased for its lifestyle value. It was purchased by the vendors for $495,000 in 1995 with a capital gain of just $20,500 per annum or $452,500 over 22 years.
Historically, the vendor purchased the property for $495,000 in 1995 with a capital gain of just $20,500 per annum or $452,500 over 22 years.
Over the past 12 months, the median 3-bedroom unit price in North Ward has increased by 6% from $455,000 to $484,000. Over the past 5 years, the suburb has experienced an 11.8% increase in 3 bedroom unit prices defying the trend across the greater Townsville area.
Between June 2016 and May 2017, a total of 24 three bedroom unit sales has occurred in North Ward compared to 96 unit sales and 43 house sales in the same period.
The rental median price for 3 bedrooms units in North Ward is $231 per week, whilst all unit classes are attracting a median of $137 per week. Units have a 12-month median rental price of $198.00 per week. Meanwhile, the 2016 Census identified the average weekly rent paid for all dwelling classes in North Ward, including houses, was $280 per week.
The rental yields for 3 bedroom units in North Ward are 4.7% with 66 units being tenanted over 12 months. All classes of units over the past 12 months have achieved a yield of 5.4% from 503 units tenanted. Houses are achieving a rental yield of 3.6% from 76 properties tenanted.
The demographic profile of North Ward is a mixed market but predominantly older or maturing independents. 23.4% are maturing and established independents, 20.4% independent youth and 11.3% established couples with families, while 21.6% are older independents or couples with families and 23.5% are elderly or young couples with children.
Originally known as Cleveland Bay, North Ward was first settled in 1864 and was the first suburb of Townsville to attract the botanic gardens (now Queens Gardens) in 1867, the first schools at Central primary school and St Josephs Catholic School in 1873 and the defence barracks at Kissing Point in 1880.
The first Townsville jail was established in North Ward at Queens Gardens and the primary school in 1878. The first public hospital was built in Townsville in 1881. Both of which are heritage listed. The old hospital wards are now privately owned apartments.
Compare last week’s winner
Top Price Winner of the Week - Idalia - $580,000Further reading:
Guide to selling a luxury homeGuide to 22 knockout marketing tips to sell a home
Top Price Winner of the Week – Mysterton $755,000
Top Price Winner of the Week - Castle Hill - $955,000
Townsvillians giants in education, individualism and indigenous culture (2016 Census)
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