The Clarence Valley in NSW has seen some significant interest over recent times, with the duplication of the Pacific Highway, many infrastructure projects, perfect climate and some of the best costal regions in Australia we can understand why. Our client, a busy Sydney Corporate Executive, wanted us to find them a dual income property with a significant equity growth opportunity that tenants would flock to rent. The answer for this brief was to purchase a great block of land for $169,000 in Townsend, NSW on a corner that would allow for a detached duplex to be built on the land. A reputable local builder then built two wonderful properties for a total of $560,000 for a total project cost of $729,000. The properties have been built with the highest of finishes to make any future tenant proud to live in the houses and look after them as if they were their own. Tenants were confirmed prior to final handover at $425 per week for a total weekly rent on both properties of $850 per week. Each of the house has be strata titled (cost included in Build contract) allowing for further equity growth and the opportunity to sell individually should the need arise. The real benefit in building like this is that you only pay stamp duty on the land which is a significant saving compared to buying a completed detached dual occupancy dwelling.
On completion of the two properties we estimate the equity growth to be approximately $100K!!!!!
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