The unit was purchased as part of a new portfolio strategy. The unit will be renovated including reconfigured to a 3 bedroom apartment and leased out. This is the first of 3 to the portfolio to be added, one more in Bondi and one in Mosman. The client is an experienced investor but clearly understood the advantage in leveraging our time, relationships, tactical and negotiating expertise. The purchase resulted in buying the property on a m2 rate, 19% ($3,781/m2 better) better than on Lamrock avenue on a like for like. The lamrock unit had no parking and was smaller. Against all comparable used to assess value, it was purchased 10% better – that’s the equivalent of 1 years growth saved in the purchase price.
Contact Stuart Jones to discuss how he can assist you with building your investment portfolio.