An apartment for the times

By Rhonda Dredge

Local real estate agents Fletchers Projects has a property for sale directly across the street from the office they believe is ideally suited to the times.

In the past, the two-level loft at 398 Elizabeth St might have been rented to students.

But now there are not many around. 

“I feel the CBD’s rental market has been reshaped,” real estate agent Dongye Li told CBD News.  And he thinks this might be the new norm, not just a transition.

That’s why he’s promoting the 70 sqm apartment as perfect for someone who works at home in the new safety-conscious era.

The loft is an ideal city pad for someone seeking privacy because it is the only one on the second floor and shares a lift with only two other units.

“You could walk in and walk out, and no one could interrupt no matter what happens in the outside world,” Dongye said. “You could get away from the hustle and bustle.”

He said people might be afraid of interacting with neighbours because of the virus. “If we have to stay at home, this is warm and homey.”

While this busy corner of the city might not have the allure of Spring St, it has an affordable price ticket of $498,000.

The unit was built about two-and-a-half years ago and the asking price is similar to its original purchase price.

Design-wise the décor is very photogenic, and the aesthetics should appeal. There is even a small corner balcony with enough room for a conversation nook overlooking the intersection of A-Beckett and Elizabeth streets. 

The bedroom is upstairs and the living downstairs with a built-in breakfast bar and small slit windows looking out on the life below.

“You could work from home and meet clients downstairs,” Dongye said. 

He expects the apartment will sell to a local owner occupier or “sophisticated” investor. Overseas inquiries have dried up. 

“We’ve been getting pretty good enquires and I would expect that more local residences will shift from suburbs to urban area as the rent is quite tempting,” he said.

There has been a pick-up with enquiries increasing by 35 per cent in June •

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