An investment property with handsome current returns, and the additional benefit of an assured future with a Development Approval in place, for 6 x 2 bedroom quality home units.

For now, the property has 5 x 1 bedroom flats, with a current rental of $1020 per week, and increases scheduled for the lease expiries to go to $1,100 per week, or $57,200 per annum. With predictions of increases of 25% over the next 12 months, holding as an investment is an attractive option. While the building is sound, giving consideration to a makeover of the flats, will generate increased returns.

In today’s climate, the numbers look attractive.

Looking into the future, the Development Approval is perfect for someone wanting to consider a larger investment holding, and with that, a significantly improved rental return. When the time is right, look to having the 6 x 2 bedroom home units built. The location will provide city views for some of the units, and the design incorporating 2 car garage, storerooms and a lift, and walking distance to Stones Corner, will guarantee that they will appeal to the “professional” set. It is envisaged, were the building available today, and the quality of fixtures and fittings, that rentals will be approx $400+ each per week, or $124,800 per annum. And keep in mind the projected increase for the coming year. Now that represents an outstanding return, particularly when the taxation allowances are taken into account.

Plan to “hold as is”, “improve over time” or “demolish and redevelop now or in the future”, the choice is yours, and the returns are there for the taking.

For further information, and/or copies of the development approved plans, contact Ray O’Brien at the office on 07 3394 2511 or on mobile 0409 012 607, or via email robrien.coorparoo@ljh.com.au