Case Study Title
Purpose of Purchase: Investment
Property Type: House
- Capital Growth
- Low Maintenance
- Low vacancy
- Blue chip, elevated position
- North-east facing back deck and backyard
- Very high level renovation, Miele appliances, Western Red Cedar cabinetry, hard wired surround sound system, resort style spa area
- Tightly held, sought after pocket dominated by owner occupiers
- Strong deprecation due to recent renovation
A Successful Investment:
The clients search time was about 4 months. We had investigated several properties prior to this one however despite coming close they all just fell short of the mark when assessing the property against our investment grading system.
When this property came to market, we advised the clients this was ‘the one’ and we couldn’t afford to miss it. So far in the year to date (approximately 9 months), we had seen only about 2 or 3 other properties come available in this pocket and none of which were at this level of condition and presentation.
It goes without saying, a property such as this in a blue chip location (10kms from the Brisbane CBD) would have strong demand and it did. After the first open home the selling agent had 30+ groups through the property of which several offers were received. We managed to secure the property due to having strong contract conditions but the clincher was we were able to offer the Sellers a 60 day rent back agreement post settlement. This was a great outcome for all involved but for our clients it means they were able to secure a high level blue chip asset and have a zero vacancy period.