Purpose of Purchase: Development-Wealth Creation
Property Type: 2 bed/ 1 bth, 1960`s timber house situated on an 749msq allotment,
Purchase Price: $720,000
Yield and rental info: N/A
How this purchase met the clients brief:
- Ability to keep house on its own land allocation and split land into two lots,
- No requirement to relocate house.
- Can also retain house in situ and build 2 townhouses at rear.
This client had been searching over 10 months themselves for a property with development potential, within their budget and that satisfies their financial blueprint. They wanted an LMR site that allowed them to retain the house at front and build 2 T-Houses to the rear. After a few near misses we managed to find this property PRE-MARKET through our agent database and within 3 days we had taken it off the market.
The property was in good condition internally and located in a very good street and also had dual development options so the client only had to decide which was best for them.
The fact that we found them a property after only 8 weeks of searching when they had been looking themselves for over 10 months was a great effort by the NPB team and the client was massively impressed and looking forward to becoming a developer.