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Perth Investment Property - 144 Renou St

SORRY – NOW FULLY SUBSCRIBED

RETURN ON INITIAL INVESTMENT OF OVER 70%

CAPITAL GAIN OF UP TO $66,000

RENT RETURN FROM 7%

DEVELOPER PROFIT 20%

Eos and Bird Property Groups have identified a potential development site at 144 Renou St in East Cannington. The site has the desired zoning and will suit a low rise apartment complex. Property market conditions in this location are very strong and demand for medium priced units and rentals is high. Renou St has proximity to excellent transport routes, along with nearby shopping and employment opportunities, making this an excellent location.  An offer has been accepted on the land and feasibility indicates a very high return on initial investment of 70%, with low “buy in” costs under $100,000 making this development opportunity ideal for someone seeking a Perth investment property, purchased below market value.

SITE

We will develop this site into twelve, two bedroom, two bathroom apartments, with one covered car space and five, one bedroom, one bathroom apartments with one car space.  Completion should be within 18 months of land settlement.

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INVESTMENT DETAILS

The costs and profits below are estimates only and are subject to change. Units 1, 2 and 17 have slightly different layouts and are therefore priced proportionally higher.

 

Two Bedroom Apartments  Units Unit 1 Unit 2
Initial deposit $94,000 $95,000 $94,500
Construction cost $230,500 $233,500 $232,000
Total Investment $324,500 $328,500 $326,500
Est. Final Market Value $390,000 $395,000 $392,500
Est. Capital Gain $65,500 $66,500 $66,000
Rent return $435/week $435/week $435/week
Yield 7%    
Return on Equity 70%    
Development Profit 20%    
       
       
One Bedroom Apartment Units Unit 17  
Initial deposit $77,000 78,000  
Construction cost $189,000 192,000  
Total Investment $266,000 $270,000  
Est. Final Market Value $320,000 $325,000  
Est. Capital Gain $54,000 $55,000  
Rent return $385/week $385/week  
Yield 7.5%    
Return on Equity 70%    
Development Profit 20%    
       


Other Costs?

It is not anticipated that any further funds will be required, however current figures are estimates only and can change during development.  The costs, as indicated cover all commissions, stamp duty, architectural fees, interest on the construction loan, rates, insurance, application fees and construction costs, etc. The apartments will be ”turn key” and supplied with quality fittings and fixtures, ready for tenanting.

 

Structure

The investors, with the assistance of Eos, will form a Joint Venture to develop the project and employ a Development Manager to oversee all aspects of the process. Upon completion, each investor will take ownership of their unit and the Joint Venture will dissolve. All documentation outlining the process will be supplied upon receipt of the “Expression of Interest”.

 

Final value

The final market value of these units is based upon formal assessment conducted by one of Perth’s leading valuation companies. The valuations are available for viewing upon receipt of the “Expression of Interest”.

 

Rent returns

Rent returns are based upon market appraisals completed by Perth real estate agents.  Copies of these are printed in the Information Memorandum.

 

Plans

For the full set of plans please contact info@eosproperty.com.au


ACTION

To become involved in this development opportunity Investors need to request an Information Memorandum and complete an “Expression of Interest”.

Contact info@eosproperty.com.au for this documentation.

For further information about this development and the “Armchair Developer™” concept please contact Eos Property Group.

 

CONTACT

1300 558 114

Chris Grannery 0427 444 351

Derek Jones 0409 882 958

info@eosproperty.com.au

www.eosproperty.com.au