Property Bloom develops on the Central Coast (in addition to the Hunter) due to the economic strengths of this location. Its proximity to Sydney, growing populations, infrastructure investment, employment opportunities and the beautiful natural environments of lakes, bush and beaches.
The land for this development was purchased late 2018. The project was completed mid 2019. The purchase price for the land was $365,000. The project is in a boutique land estate with highly sought community facilities.
This property was carefully chosen for the client by Property Bloom™ for development for these reasons:
- The location has been earmarked for ongoing growth and is close to a major hospital, shopping centre, medical centre and schools. The development is close to industrial estates, numerous employment hubs and transport links. There are several parks and sporting fields close by.
- The market. Young families continue to want to buy and rent in this location, some moving from Sydney for more affordable housing. The other market is down sizers looking for new, low maintenance properties.
This client has held the villas and they were leased quickly with long term leases secured.
Living area of each three bedroom, two bathroom villa, including upgrades 2.7m high ceilings, ducted air-conditioning: 140sqm
Total Project Cost, including land, stamp duty, legals, DA, CC, build cost, Torrens title subdivision: |
$929,151 |
Rents at 2019:
Villa 1: |
$475 per week |
Villa 2: |
$475 per week |
Total: |
$950 per week |
Yield: 5.3% gross
