Duplex site - Granny Flat - Corner Block. Immense potential, strategically located near the heart of the city. High returns were just the beginning
600000
749
3 BED 1 BATH 1 CAR
• $600,000 price purchased
• Recent sale across the road of a dual occ house on the same land size for 1.2M !
• Corner block 749 sqm
• Market rent $550 per week
• Our exit strategy involves relocating the granny flat within the next 10 years to the clients other land holdings while considering the option to demolish the current house and replace it with a two-story duplex.
Diane's journey with us began through a valuable referral from a colleague based in Sydney. Her initial focus was on finding a one-bedroom apartment within the $600k to $700k price range, within a strata-managed property with associated high costs. However, our expertise and in-depth analysis unveiled a more promising avenue in the Southeast Queensland market. This market not only aligned perfectly with her goals but also showcased superior rental yields and enticing investment prospects. A versatility in exit strategies and value-added options further heightened its appeal.
Recognizing the potential of Southeast Queensland, we collaborated with Diane to develop a comprehensive strategy that would redefine her investment approach over the course of a decade. After meticulous consideration, we identified a prime property situated near the city that held immense potential for both immediate and future development as a duplex site. This strategic move was underpinned by our vision of leveraging market growth and addressing the perpetually growing demand for houses in the region.
To maximize returns and elevate the property's value, we introduced an innovative touch: a relocatable granny flat. This forward-thinking addition not only enhanced the property's utility and returns but also introduced a depreciable asset, thereby solidifying its long-term value within Diane's portfolio. What's unique is that this additional dwelling isn't fixed; it can be seamlessly moved to another property within her portfolio, showcasing adaptability that few investments offer.
Navigating the complex negotiation landscape, we encountered a formidable challenge—an intense silent or “Dutch” auction environment. Despite an initial setback in “losing” at a preliminary auction with non-binding terms, our tenacity shone through. Undeterred, we personally presented the agent with a signed contract on a Sunday morning, a bold move that underlined our commitment. Our unwavering stance paid off: despite a seemingly higher competing bid of $25k, we clinched the deal through determination, sealing it that very Sunday afternoon. Our tenacity prevailed, a testament to our relentless nature in negotiation
This instance stands as a demonstration to our resolute negotiation approach on behalf of our clients. The chosen property ticked every box on Diane's list, and the purchasing process unfolded with remarkable smoothness. As settlement loomed, our proactive measures came into play. We meticulously planned for the introduction of the granny flat and scheduled insulation installation within the upcoming months, ensuring a streamlined path to renting out the property. Diane's satisfaction with the outcome speaks volumes, reflecting our dedication to delivering exceptional results.
Our commitment to excellence is at the heart of every endeavour we undertake. Diane's success story epitomizes our unwavering dedication to realising our clients' aspirations. With us, it's not just about getting the job done—it's about redefining possibilities and exceeding expectations.
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