Property guide

Overview
International buyers require an eligible visa and approval from the Foreign Investment Review Board to purchase new or commercial property (the purchase of second-hand property is not permitted unless for redevelopment: foreign investment is channelled towards increasing housing stock). The buyer pays a 10 per cent deposit; there is a three-day cooling-off period in the state of Victoria, during which the contract can be withdrawn. Stamp duty is charged on all properties and calculated on a sliding scale, starting at 2 per cent of the purchase price. Buyers should also factor in the cost of a local conveyancing solicitor, generally around 5 per cent of the purchase price.

Prices
1-bedroom flat, AU$350,000 (€270,000)
2-bedroom flat, AU$550,000 (€425,000)
3-bedroom flat, AU$700,000 (€540,000)

Estate agent
Nelson Alexander Smyth Real Estate specialises in warehouses and commercial properties ripe for renovation.
nelsonalexandersmyth.com.au; +61 (0)3 9419 5511

Architecture

If main thoroughfare Smith Street is too full-on for your tastes, search in the quieter and leafier surrounding pockets. There are a number of styles of residence to choose from, including early-1900s workers’ cottages made out of weatherboard, some with small gardens, as well as new multi-level contemporary apartments or warehouse refurbishments. More than half of the suburb’s dwellings are apartments.

Stay, Eat & Drink, Shops, Galleries and Live Music

Stay

Ovolo Hotel Melbourne
19 Litte Bourke Street, +61 (0)3 8692 0777
mrandmrssmith.com
A short taxi ride to Collingwood. Two-bed serviced apartments include kitchens.

Eat & Drink

Mina-no-ie at Épatant
33 Peel Street, +61 (0)3 9417 7739
minanoie.com
This popular breakfast and lunch place is always packed with locals.

South of Johnston
46 Oxford St, +61 (0)3 9417 2741
southofjohnston.com.au Complete with a central fireplace and soft couches to lounge on.

Mr Juice
194 Smith Street, +61 (0)3 9419 2317
An institution. Take-away juices, smoothies and Vietnamese rice-paper rolls.

Shops

Épatant
33 Peel Street, +61 (0)3 9417 7739
epatant.com
This concept shop by Dennis Paphitis, the founder of skincare brand Aesop, and business partner Lachlan Smeeton, stocks menswear and accessories.

CIBI
45 Keele St, +61 (0)3 9077 3941
cibi.com.au
Zenta and Meg Tanaka stock Japanese kitchenware and ceramics, plus a range of furniture.

Tokyo Bike
5 Peel Street, +61 (0)3 9417 2845
tokyobike.com.au
A success story from Yanaka, Japan, the group opened its first shop outside its homeland in Sydney in 2010. This outlet followed, stocking everything the wannabe cyclist could wish for, starting with four signature-model bikes.

The Social Studio
128 Smith St, +61 (0)3 9417 2143
thesocialstudio.org
In 2009, Grace McQuilten opened this fashion studio to offer training and experience to refugees and recently arrived migrants. Sells clothing and accessories.

Galleries

Lamington Drive: The Jacky Winter Group
15-25 Keele Street, +61 (0)3 8060 9745
jackywinter.com
This gallery exhibits and sells the work of The Jacky Winter Group’s illustrators. Exhibition launches always include a plate of lamingtons.

Live Music

Penny Drop
pennydrop.com.au
Representing and touring independent artists including Architecture in Helsinki, Yeasayer and Jens Lekman, this Collingwood-based agency sells gig tickets online.

The local

Adriane Strampp, Artist

“I moved with my daughter Lucy into a former coat-hanger factory. I’ve renovated it slowly, keen to ensure it remains true to its heritage. Back then the area was quieter but now Smith Street is a frenetic mix of retail and cafés.”
adrianestrampp.com

Monocle 24

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