Petrie Terrace, QLD
Purpose of Purchase: Owner Occupier – become an Investment in 2-3 years
Property Type: House
- Quiet Location – no busy arterial routes
- Good level of natural light
- Possible to add value through cosmetic renovations (not structural)
- Close proximity to retail shops, schools and transport
- Strong capital growth prospects
- Potential to rent out in the future
- Tightly held location
- Located 1 kilometre from the Brisbane CBD
- Older, pre war home in renovated condition
- Off street and secure car parking (quite rare in this area)
- Whilst inner city, very private, having 3 street frontages
- Potential to add value by improving the landscaping, adding an ensuite and walk in robe to the main bedroom
A Successful Investment:
Our clients goal was to purchase a property to reside in for a few years and then it would become an investment and they would rent it out. Being that the property would someday become an investment, the client was open to looking at homes in the Inner Northern suburbs of Brisbane within 6 kilometers from the Brisbane CBD.
The next step for the client would then be to purchase a property in Petrie Terrace to reside in. Being that Petrie Terrace only has 154 residential homes and is quite tightly held, they were happy to be patient, get into the market now and then purchase their principle place down the track.
Our client was over the moon that we managed to source them an opportunity in Petrie Terrace for the first purchase as it would give them a chance to reside in the area and then upgrade into a larger home at a later date.
The property was purchased off market and with a tenant paying $515 per week and with only 2 months left to run in their lease meaning the client could move straight in.
Overall, this was an excellent outcome.