26/07/02

An outstanding return at The Centurion

The first resale at The Centurion, recently completed 31 level residential tower at 83 Whiteman Street, Southbank provided the investor with an approximately 95% before tax return.

Released to the public in October 1999, The Centurion now stands as a Melbourne landmark as a unique glass tower in Southbank that further lights up the Melbourne night sky as tenants move in to enjoy the inner city lifestyle.

In October 1999, an investor purchased a two bedroom, two bathroom with one car park apartment on the 25^th floor with outstanding North facing views of Melbourne over the Crown Entertainment Complex towards the Arts Centre Spire and Flinders Street Station. For a fixed price of $442,000, the apartment was purchased with only 10% deposit required and the balance due on completion. Recognising the Centurion's outstanding location and potential for capital growth, two and half years later immediately after settlement the apartment was sold at $501,000, giving 95% before tax return. The investor used 100% financing for the payment of the 10% deposit and balance on completion.

The successful first resale at The Centurion reflects what a select investment opportunity Southbank presents if investors purchase in quality developments from reputable developers.

For The Centurion photos and virtual tour, click here