Here is a small snapshot of some of the more interesting transactions we’ve seen over the past few months.
Settlement Date – 3/05/2010
Client – Local Canberra – 1550
Purchase type – Investment
Purchase price – $642,000
Transaction type – off Market – private treaty – used a buyer’s agent to acquire
Suburb – Coogee, Sydney
Property Type – 2 bed apartment + study
Attributes – big block of land with only 12 apartments on the site and communal BBQ area set high on the hill, single lock up garage. Only 400m from waterfront with views of Coogee beach. The client undertook a $26k renovation that included a new laundry (new flooring and installation of a washing machine/dryer combo), built in linen cupboard, new cooking appliances, fresh paint, new robes with mirrored doors and replaced ceiling. The kitchen and bathroom had already been recently updated. The apartment was tenanted in the middle of winter for $550pw, with a 15 month lease, so the property can be re-let during the peak summer period. This is a well located property purchased for capital growth potential.
Settlement Date – 09/06/2010
Client –Local – 1998
Purchase type – Investment
Purchase price – $500,000
Transaction type – On Market private treaty – used a buyer’s agent to acquire
Suburb – Bondi Junction, Sydney
Property Type – 2 bed Unit
Attributes – Bought with the view of capital growth. It is very difficult to secure a 2 bedroom unit in this area for less than $600k. The property, which is in a complex of only 12 units, also has off street parking and is tenanted for $500pw.
Settlement Date – 23/07/2010
Client – Local – 2141
Purchase type – Investment
Purchase price – $500,000
Transaction type – Ballot land release
Suburb – Gungahlin, ACT
Property Type – Vacant residential land
Attributes – This block was purchased for $450k 12 months ago. There is a shortage of land in the location and these clients have enjoyed a nice gain over the past year.
Settlement Date – 30/07/2010
Client – Local – 2240
Purchase type – Investment
Purchase price – $370,000
Transaction type – Private sale
Suburb – Mt Gravatt, QLD
Property Type – 3 bed townhouse in a complex of 20
Attributes – Good location with off street parking. The recent softer market made for good buying, with the added bonus of a motivated vendor and a great managing agent. The client is returning to the property market after a few years’ hiatus to add to their family.
Settlement Date – 25/08/2010
Client – Interstate – QLD – 2287
Purchase type – Investment
Purchase price – $375,000
Transaction type – On market – private treaty
Suburb – Cannonvale, QLD
Property Type – Vacant block of land
Attributes – Expansive ocean views. This property was purchased in a SMSF structure.
Settlement Date – 27/08/2010
Client –International – USA – 2246
Purchase type – Investment
Purchase price – $582,000
Transaction type – On market, Auction
Suburb – Macquarie, Canberra
Property Type – 5 bedroom house with ensuite & double lock up garage
Attributes – The property is located in close proximity to Belconnen Mall (Westfield) and will rent for $440pw. It was purchased by telephone from OS and the owners intend to reside here once they return to Australia.
