HOT’S HOT SPOT FOR 2016
Harry Oscar Triguboff has been in property for over 50 years and he has seen it all. Every trend, ever high, every low. Rather than predicting the area that will be Sydney’s next hot spot, he is out there creating it. Where he goes, others follow.
There is little doubt Sydney has changed over the past 50 years. In 1961, the year Triguboff became an Australian citizen, the tallest building in Sydney was being designed by acclaimed architect Harry Siedler, Australia Square. The construction was finished in 1967. It is now dwarfed by skyscrapers over twice the height.
In those days, industrial areas were just that. Now they are some of the most sort after residential areas in Australia.
Back in the day, the streets of Balmain and Newtown were lined with the cottages of blue collar workers as were neighbouring Leichhardt, Petersham, Camperdown, Stanmore, Dulwich Hill and Summer Hill. And right in the middle is the precinct of Lewisham.
Lewisham is eight kilometres from Sydney CBD. It took its name in 1834 from the estate of Joshua Frey Josephson who later became Mayor of Sydney. The estate was named after the London borough of Lewisham.
Lewisham is notable in railway history as the termination point for the first train journey in the NSW colony in 1855, although the station was not built until 1855.
Now it is surrounded by the light rail and both Leichhardt and Ashfield stations making it one of the most accessible areas in Sydney.
“Lewisham is a pocket of the Inner West that has been overlooked until now,” Mr Triguboff said.
“It is now coming into its own and with increased infrastructure it will be even more attractive.
“It is in very close proximity to some of the best shopping centres, restaurants, cafes, healthcare, hospitals, schools and parks.
“It has all the attributes of the perfect investment. It is the most undervalued area in Sydney but that is about to change.
“Buyers will come and they will see the value,” he said.
Because of little construction in Lewisham and a lack of accommodation in the area, it is a no brainer for investors to buy in the area.
To buy a two-bedroom apartment in Lewisham will cost $875,000. The rental return, $720 per week. The return is 4.3 per cent. To buy a comparable new apartment in Zetland will cost $1.2 million and it will rent for $750.000 a week. That return is 3.25 per cent. The property in Lewisham is a much higher yielding investment.
Meriton has teamed up with award winning architects PTW to create a unique personality in each of its seven apartment buildings.
Rising up 10 levels, each building is distinct and flooded with natural light, the five-star luxury resort style apartments have terrace-style balconies looking over 3,400 sqm of natural parklands. The additional recreational areas have a 25 metre lap pool, spa and sauna, fully equipped gymnasium and an on-site manager to keep an eye on things.
Neutral tones, metal picket fences and exposed brick reflect the industrial surrounds.
A refined eye for vogue living, LUNA apartments provide the internal space and elegant fittings necessary in a contemporary home.
In close proximity to the Leichhardt Market Place and Ashfield Mall, it is on the light rail route and 800 metres from the train station. With some of the best schools within a couple of kilometres, it is also in close proximity to leading hospitals.
“Back in the day, people who lived in this area could not afford to drive cars so public transport and accessibility to schools and facilities was paramount,” Mr Triguboff said.
“Lewisham is one of the most accessible areas in Sydney.
“It doesn’t have all the makings of a hot spot, it is a hot spot,” he said.