This block is the ideal investment for a 1st time property investor. As it is only land (no house), the block is affordable, and it has an attractive lease contract until May 2012 with the developer of St Leonards Private Estate, with the opportunity for the developer to have a further two six month lease terms. With rental income of $15,540 per annum PLUS outgoings paid (land tax excluded), this block can be held with a minimum cash drain on you and appreciate in value over the lease term.

St Leonards is a new and exciting Estate that was released in late 2009. There have been in excess of 200 lots sold in the last 16 months, providing a track record of capital growth and demand for land within the area.