Victoria cross, North Sydney station and the tower core
North Sydney has two stations in its commercial core. North Sydney station has trains across the Harbour Bridge to the city, and Victoria Cross station, entered from Miller Street, puts the centre on the rail network.
The towers sit close to both, with older walk-ups and mid-rise blocks in the surrounding streets, some of them company title rather than strata.
- For lending, that transport depth cuts both ways.
- The panel Links works with includes ANZ, Westpac, Macquarie, ING and Resimac, which means a tower apartment, a strata walk-up and a company title flat can each be placed with a lender whose rules suit it.
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For lending, that transport depth cuts both ways. Tenant demand near two stations gives an investor rental evidence that is simple to document, and busy buildings give valuers recent sales to work from.
The same towers are where lenders cap how much of one building they will fund, and where an off-the-plan settlement valuation is measured against resales of near-identical floor plans. A company title flat on the fringe is a separate question again, with a much shorter lender list and usually a larger deposit.
The panel Links works with includes ANZ, Westpac, Macquarie, ING and Resimac, which means a tower apartment, a strata walk-up and a company title flat can each be placed with a lender whose rules suit it.
Example scenario (illustrative, not a real client): A buyer who works near Miller Street signed an off-the-plan contract for a one-bedroom apartment in a tower a short walk from Victoria Cross, and the building is now close to completion.
Her original bank already funds many units in the building, and the settlement valuation may land below her contract price. Comparing lenders before the completion notice arrives shows which ones still have room in that building and how much deposit buffer each would need if the valuation comes in soft.
