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Perth Investment Property - 459 Charles St

SORRY, NOW FULLY SUBSCRIBED.

We have just secured a development site in Charles St, North Perth.  Preliminary planning indicates the site will hold 10,  two bedroom, two bathroom apartments, each with two dedicated undercover car bays.  Capital gain for investors should be around $130,000 upon completion with expected rent returns between $550 to $600/week.

The site has the required development zoning and is available for vacant possession. Our feasibility has indicated significant opportunity for profitable development.  The current Perth investment property market in residential real-estate is reflecting a strong demand for rental in this area and anticipates good capital growth

Site Location

459 Charles St, North Perth    

North Perth is located less than 5 km from the Perth CBD and has achieved a 10 yr growth rate of 10.4%/annum (source REIWA).  Its easy access and close proximity to the Perth CBD will provide certainty of investment over the long term.  This location is considered to be a “blue chip” investment area.

The mining resource boom in Western Australia is predicted to positively impact upon properties in Perth’s inner circle. North Perth’s proximity to vibrant cultural and lifestyle opportunities make this an ideal location for young executives and is helping to drive rent returns.

Being so close to the Perth CBD, the local area has very well-established infrastructure and amenities.  Close by is Edith Cowan University, Perth Central TAFE, The WA Art Gallery and Museum,  Mt Lawley Senior High School, Tuart College, Lake Monger, Leederville and Glendalough train stations, very simple Mitchell Freeway access, Transperth bus route, Dog Swamp Shopping Centre, Osborne Park Business Park and extensive retail along Scarborough Beach Road, Oxford and Fitzgerald Streets. Restaurants and cappuccinos strips abound in nearby Northbridge and Beaufort St as well as the Perth city centre.

 

Project Overview

Initial deposit $139,000
Construction costs $261,000
Total outlay to investor $400,000
Expected final market value $530,000 (valuation)
Expected capital gain $130,000
Expected Rent return unfurnished $550/week
Expected rent furnished $750/week

 

 

 

 

Please note all these figures need to be confirmed and are only estimates at this stage.

The total cost to investors of $400,000 includes interest on construction loan, stamp duty, borrowing fees and  commissions,  architects fees etc.   Full details are available in the Information Memorandum (IM) for each project.

Investors need to be able to fund the initial deposit of $139,000 from other sources however the final borrowing can be against the  property.  Estimates indicate that if all funds are borrowed, the property will be cash flow neutral if not slightly positive

 

Comparative sales:

Formal valuations show similar apartments valued at $500,000.  Market estimates by two local agents confirm this figure.  A formal valuation for this particular development concluded a market value of $530,000.

 

Tax:

All investors are responsible for seeking their own tax advice, but they need to be aware that selling the property may attract both capital gains tax and GST.

 

Action:

Click here to REGISTER your interest. and be included on the email updates

For further information contact Eos Property Group on 1300 558 114 or

Chris on 0427 444 351

Derek on 0409 882 958

Disclaimer IMPORTANT:  This is not advice. Clients should not act solely on the basis of the material contained in

this document.  Items herein are general comments only and do not constitute or convey advice per se.

Every effort is made to ensure the contents are accurate at the time of publication but clients need to be aware the figures are all estimates. Clients should seek their own independent professional advice before making any decision or taking action. We take

no responsibility for any subsequent action that may arise from the use of this document. Published by Eos Property Group