Purpose of Purchase: Investment/ Future Development
Property Type: Free Standing House
- Large block with ability to develop in the future
- Options to increase yield by building a granny flat
- Low entry price – sub 450K
- Level block with 20.39m frontage and access down both sides.
- Room to construct a second dwelling (granny flat) at the rear of the property.
- Strong cash flow as is
- Potential to develop site in the future
- Short walk to Wallsend and to bus transport to CBD of Newcastle.
- A few minutes’ drive to the University of Newcastle and John Hunter Hospital
A Successful Investment:
This was the 3rd purchase we were assisting our clients with. They have a blue chip buy and hold free standing house in inner city Brisbane, a free standing house in Toowoomba and they wanted a 3rd investment property in Newcastle which they could potentially develop in the future.
Our clients also had a desire to secure a property with a strong gross yield as is to assist with balancing out the cash flow for their overall portfolio. The property we secured has a strong gross yield as is, has the ability to construct a granny flat in the future to further increase their yield or potentially develop the site in the future. Our clients are very pleased with the outcome.