Glebe and West End Residences
Glebe is one of those beguiling suburbs that if you came across it almost by accident, during a Sunday stroll or afternoon drive you’ll find yourself thinking; why haven’t I discovered this area before?
Originally founded in 1790, it’s an urban landscape and location that you might associate with trendy parts of New York or London, but it’s in Sydney’s own backyard and well worth exploring or re-discovering.
Find a map of Glebe or do a Google search and across the surrounding area you’ll find it hard to know where to look first, there are so many interesting places and sights to explore.
Some might be familiar like the Broadway Shopping Centre and others a new discovery, like Tommy’s Beer Café with its famous metre long sausage sandwich.
This endless variety is also reflected in Glebe’s demographic mix which shows a varied cross-section of residents. Which is good news for anyone buying in the area, because it gives Glebe wide appeal to singles, couples, families and rightsize buyers.
Glebe enjoys a laid-back reputation, an intellectual feel and a broad mix of heritage buildings - it’s an architectural gem.
There are bookshops and galleries to explore, while students from the three nearby universities add constant life and colour to the area.
Saturday’s Glebe Markets are a bargain-hunter's paradise where you might also discover some unexpected vintage gems. Glebe Point Road is a ribbon of discovery which runs from Broadway to Rozelle Bay and is lined with an assortment of cafes with almost every style of food and endless coffee options.
The Glebe Foreshore Walk and Parklands are popular with families, runners, dog walkers, bike riders or with anyone just taking a solitary stroll and there’s always water-views under century-old trees and across to the Anzac Bridge and the expansive city skyline.
The area is popular, resilient and rapidly growing in popularity with new projects like West End adding new life to the area.
However, what any map or search will not pinpoint is the fact that Glebe is a scarce untapped investment opportunity in the very heart of Sydney and it’s a rare and very popular walkable neighbourhood.
Reasons to be Glad about Glebe
Glebe is so close to the CBD you can throw away the car keys. From here you’re in walking distance to facilities as diverse as universities, swimming pools, parklands and fish markets, alongside all the must haves like great shopping, cafes, super easy transport connections and schools.
There’s a bonus for the fact that while you’re this close to the city, Glebe still represents great value by comparison to the surrounding suburbs and for investors this also means higher rental yields the area is always in demand.
Glebe has attracted strong development over the past few years and the West End Residences which are located on Cowper and Elger Streets, almost mid-way between Wentworth Park and Broadway is one of the most popular.
Value and Location
Appreciating that the inner-city is in high demand it’s sensible to ask "what makes Glebe such an attractive area?"
Part of the answer is the fact that other areas like Pyrmont, Darling Harbour, Ultimo and the southern CBD have already boomed. The inner-west has also enjoyed strong growth and prices have soared in suburbs like Balmain and Annandale.
The low-rise scale of development makes Glebe an attractive residential market. While Glebe still has a lot of room for price and rental growth, as construction gains pace supply will start to tighten and so projects like West End represent excellent value.
West End has a limited mix of apartments in two distinctive buildings Arthouse and Foundry. The mix includes some larger 3 bedroom apartments and 2 very unique 3 bedroom townhouses which, given their location are a one-off opportunity.
Price comparisons within the Sydney CBD are very favourable. For example, a 2 bedroom apartment in the southern-CBD can sell for $2m or more, while at West End new 2 bedroom apartments, currently selling off the plan, compare very favourably.
Plus, it’s a central location. Remember you’re just a 1.8k walk from Sydney Town Hall, and West End prices start from $1.115m for a 2 bedroom apartment with parking and $1.8m for 3 bedrooms with 1 car space.
Within these price ranges there’s also a flow-on to higher rental yields. Rentals are estimated between $700-$800 per week for a 1 bedroom (the high figures include parking). For the popular 2 bedroom apartments with parking figures are expected to range between $950-$1100 per week.
As a rental market Glebe benefits from being close to three universities: Sydney University, UTS and ACU Campus, while transport includes walking distance to Central Station, light rail and extensive bus connections.
Combined these advantages create another advantage, as Glebe is considered a sound market by most banks and lending institutions.
Established Services and More on the Way.
Centred along the Broadway strip, Glebe has always had a varied and energetic retail offering and that continues today with a surprising number of prime facilities and all just minutes from West End.
These include Broadway Shopping Centre, Central Park, Paddy’s Markets, Darling Harbour and the big CBD centres and department stores, it’s a retail heaven. The area’s universities are complimented by the highly regarded International Grammar School.
As Glebe is growing rapidly there’s more new developments and projects on the way which includes extensive plans for the total re-development of the iconic Fish Markets, additional Light Rail services from Central, access to WestConnex, a new school with 30 classrooms, a library, school hall and indoor and outdoor play areas, to accommodate 800 pupils, and the re-development of areas surrounding Wentworth Park.
Why West End?
Glebe offers an almost endless list of advantages for owner-occupiers and investors and that makes it a perfect time to focus on a project like West End.
The project offers a choice of 2 striking building precincts that have a look and feel that’s defined by design and architectural elements that reflects the areas history. The design theme ranges from a more traditional warehouse concept to a more lavish and contemporary feel and there are art-deco elements through the use of curves and arches across sections of the building’s façade.
Interesting and dramatic city and local views can be enjoyed from the private roof top gardens and from almost every part of each building. Some apartments look over tree lined streets with heritage buildings and terraces and others have spectacular city skyline views.
The site is not crowded and both buildings are set to become iconic local landmarks. Closer inspection will reveal lots of light and open space surrounding West End and clever use of landscaping and privacy screens will help maximise privacy and solar access.
Since West End was released, sales have been strong and interest remains high. Buyers understand that as an established area, new development sites in Glebe are now very rare.
There’s a theme of quality design running through the project which includes large balconies and extensive roof gardens, high quality inclusions, cross flow ventilation as well as fully ducted air conditioning.
Beyond the individual apartments, as there are no major facilities to maintain buyers have been happy with the affordable strata levies.
The developer Roxy-Pacific Holdings Limited has track a record in premium locations, the group has a depth of experience with some 4,300 residential and commercial units being completed and developed across Singapore, Malaysia and Australia.
It’s a challenge to sum up such an appealing project as West End but it all starts with an outstanding location, that’s also quiet, as through traffic is very limited.
The project’s sales team quote three key features as an open unhurried and bright aspect, a low maintenance building with sustainable materials and a building that’s architecturally interesting and where every aspect is thoroughly designed.
The area is a walkable neighbourhood, jam-packed with facilities and the qualities of the buildings and the individual apartments are hard to beat.
Find out more about West End Residences here
For more articles like this click here