Purpose of Purchase: Investment
Property Type: House
- Ability to add value through future renovation
- High growth pocket where always in demand
- East Facing
After searching the Sydney market for almost 6 months and being priced out of the market, our client turned her attention to investing in Brisbane. The brief was to source a low maintenance and easily tenanted property that in the future would allow for medium to large scale renovation that could then be sold to fund retirement in 8-10 years.
- Partly renovated and already raised to legal height underneath
- Very exclusive owner occupier pocket
- Multiple entertaining areas
- Walking distance to schools, local shops and bus transport
- East facing back deck
A Successful Investment:
The property had been partly renovated upstairs and raised to legal height providing the ability to convert the house into two living levels without the additional costs to raise and re-stump. The house had a brand new pool, new extension and back deck and a renovated kitchen however with the other rooms having been well maintained but not recently renovated, meant the future renovation would not be removing valuable renovation work. We secured the property due to our agent relationship in a multiple offer situation, and our property management team had the property rented within 3 days of being listed for rent, at 7% above the top of our rental range and 12% above the selling agents rental range.