This week’s winner – 49 Alexandra Street North Ward
This week’s residential property Top Price Winner of the Week brings romance and majesty appeal together with fine features and fabulous function synonymous with the fusion of vintage and contemporary style showcased in an outstanding traditional Queenslander such as 49 Alexandra Street North Ward.
Just a short walk to the to the Strand, this gorgeous Queenslander is nestled at the bottom of Castle Hill in one of Townsville’s most resilient and highly regarded lifestyle suburbs.
You will learn more about the features of the property from the estate agent Ms Julie Mahoney from Kingsbury Harcourts. But before we do, it is important to appreciate the attraction and romance of this location.
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| Image: Kitchen and dining view from the veranda at 49 Alexandra Street North Ward Photo: Kingsburry Harcourts |
North Ward presents the most appealing location as it is positioned close to Townsville’s entertainment and tourism precincts, which rather ironically, is also the place of ceremonial dance by the local Gurambilbarra Wulgurukaba people’s and the site of the first Europeans who settled on Townsville’s shores in November 1864.
While this property features a beautiful in-ground swimming pool today, the appeal of North Ward to the John Melton Black and Robert Town’s expedition in the 1860s was the fresh water of Wambaluna Lagoon not far from this property.
With a slightly elevated position, the posture of this home brings excellent street appeal and a sense of open space on the large ¼ acre block and the modern conveniences of metropolitan community living.
Not only is the property within walking distance to one of the best private schools in Townsville, but the residents are just a short walk to the top of Castle Hill or down to the Strand where spectacular views of Magnetic Island and the Palm Islands in the Coral Sea can be enjoyed.
The location is ideal for families, less than 200 metres from Townsville Grammer School and just a short 5-10 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 $752,500, well above the median price for 3 bedroom houses in North Ward which are currently sitting at approximately $510,000. The median price for all classes of houses in North Ward is approximately $513,000.
Impressive as these numbers are, the sales agent Ms. Julie Mahoney from Kingsbury Harcourts and the vendor have exceeded the median price for houses in the suburb by $239,500.
Ms Mahoney describes the features and appeal of the property as “romancing the street” with the skilful structure of eloquence in poetic charm and professional marketing acumen.
The property
Ms Mahoney said the property has “picture perfect street appeal and it is just the beginning of a glorious courtship between this c1900s character abundant Queenslander and the desires of the discerning modern family.
“This charming home exemplifies tropical living at its best with the seamless interconnection of internal and external space. It is, however, the reverences to her ageless appeal with a timeless palette that tastefully compliments her traditional beauty.
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| Image: Pool from rear view of 49 Alexandra Street North Ward Photo: Kingsbury Harcourts |
“Emphasis is on family entertaining with large undercover verandas, continual decking, pool and enviable 1012sqm yard.
“Her large open lounge is definitely the soul of the home while her kitchen is functional and overlooks the deck and entertaining area.
“This is a superb home with plenty of downstairs storage and work space.
“Undoubtedly, she will capture your heart and so the romance will begin.
The property features:
- Stunning traditional inner-City Queenslander with views of Castle Hill
- Large open plan living area with central arch
- Kitchen overlooks pool and backyard, with bi-fold door from the dining area opening onto the deck
- Master bedroom with walk-in robe and ensuite
- Main bathroom with his and hers vanity, bath and separate shower
- Private backyard with swimming pool, deck, and terrace gardens
- Air conditioned throughout
- Character features include fretwork, archways, high ceilings, stained glass windows, and tongue and groove walls
- Fully fenced 1012sqm manicured allotment
- Large open plan living area with central arch
- Kitchen overlooks pool and backyard, with bi-fold door from the dining area opening onto the deck
- Master bedroom with walk-in robe and ensuite
- Main bathroom with his and hers vanity, bath and separate shower
- Private backyard with swimming pool, deck, and terrace gardens
- Air conditioned throughout
- Character features include fretwork, archways, high ceilings, stained glass windows, and tongue and groove walls
- Fully fenced 1012sqm manicured allotment
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 $513,000, while just twelve 12 months ago, the suburb recorded a median house price of $651,000.
North Ward has a greater number of unit dwellings than there are houses.
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| Image: Satellite view of 49 Alexandra Street North Ward Photo: Google Earth |
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 $752,500, the weekly top price property at 49 Alexandra Street will impact the median sale price for the area as it is $239,500 above the current median sale price for houses.
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.
Pure Projects recommended the development of a massive infinity pool on the Strand just a short walk from this property.
Driven by a clear investment strategy of location, location, location, this majestic Queenslander is close to metropolitan infrastructure and significant public attractions. It was purchased for its lifestyle value and investment potential.
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The vendors purchased the property in December 2011 for $685,000. This sale has seen a capital gain of $67,500 over nearly 6 years. However, since March 2014, the property has been rented for approximately $500-$675 per week.
Historically, the property has been sold in September 2003 for $430,000, again in May 2001 for $293,000 and again in August 1990 for $163,000. The build date of the property is not known but could be as early in the 1900s.
Over the past 12 months, the median house price in North Ward has dropped -18.6% from $630,000 to $513,000. Over the past 5 years, the suburb has experienced an -5% decrease in house prices.
Between September 2016 and August 2017, a total of 34 house sales have occurred in North Ward compared to 88 unit sales in the same period.
The median rental price for houses in North Ward is approximately $350 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 units in North Ward are approximately 5.6% with approximately 538 units being tenanted over 12 months. Houses are achieving a rental yield of approximately 3.6% from 65 properties being 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.
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