Buyer advocate comments:
I really enjoyed working with Chris. He wanted an income producing investment, with enough space to redevelopment at a later date. Searches uncovered large blocks, with an existing rentals and space for future development, however most had water issues and were rejected.
We eventually found a fantastic 3050sqm property on a hill in a quiet court with three old houses, two of which are currently rented. The third house had wall cracks which hadn't expanded further for 15 months. After securing the property, the buyer gained early access in order to begin repairs prior to settlement. The three houses will provide a weekly income in excess of $1100. There was an existing sketch of a 6 - townhouse development on the block which I referred to a friend who is a town planner. He confirmed it was highly likely a 5 - townhouse development could ultimately be achieved. The 3 existing old houses will eventually give way to an exciting new development, with the land value for each townhouse around $150,000. An excellent starting point.
Robyn Toohey
