Purpose of Purchase: Investment
Property Type: House
- Strong capital growth
- Minimal ongoing maintenance
- Low vacancy
- Low maintenance home renovated to preserve character features
- Popular location, 9kms from the Newcastle CBD, beaches and harbour.
- Highly sought-after family home
- Ample car accommodation with potential to create rear lane access
- Walking distance to shops and transport
A Successful Investment:
Our client had previously purchased in Queensland and was looking to diversify across different markets. The property was scheduled for auction but we knew from experience that family homes in this suburb were popular with tenants and owner occupiers alike, so we decided to attempt to secure it pre-auction. After the first open home there were multiple interested parties, and our client’s ability to offer a short settlement period and immediate unconditional exchange contributed to our client’s offer being accepted so early in the campaign.
Mayfield is one of Newcastle’s most popular inner west suburbs, with easy access to the city, university and airport. It has undergone significant gentrification in recent years and is a mecca for a growing café and art society. Our client was very pleased to have been able to secure a property with potential for capital improvement in the medium-long term. PMC Property Management secured a great tenant that was able to move in on settlement day.