Two Townhouses to Hold

David is a long-time client. When we saw early signs of market recovery following COVID, he bought 2 ripper investments within 6 weeks.

This property is within an area that we rate for capital appreciation AND for development profits. It made perfect sense for him given his intentions to eventually develop for long-term retention. The disused power utility block in the corner of the block (separately titled and owned) complicated the listing a bit and stopped the vendors from selling at the fair market value of $1.45m.

We did the diligence with the utilities company, an environmental assessment and tree inspections.. A 2-3 townhouse development stacked up really well at the asking price, but given it had been on the market a while we negotiated hard and secured it at a bargain price of $1.385m. We then secured the disused 30m2 on terms agreed prior.

David appointed us to project manage the planning and design process with our preferred consultants. He and his wife were involved in all major decisions, and we landed really attractive plans that will appeal to young professional renters once they ultimately decide to build.

He had some kind words about us: “A few years ago I wanted to purchase a townhouse development site, it was something I always wanted do. I had experience in buy & hold property investing however I had never done a small development before so I researched several companies and found Property Analytics. Andrew has been great to deal with – he is honest, professional and reliable. I have gladly recommended him to family and friends.”