Waterside Terraces – Penrith – Stockland

Seize the opportunity to purchase what would possibly be the cheapest off the plan terrace/apartments in Sydney
Developed by Stockland you know you will be getting quality
Take advantage of Western Sydney’s supply shortages and high rental yields.
These are the final terraces in the first release that has sold exceptionally well.
Snap one of these remaining properties and don’t settle until October 2012
I will be on-site Saturday morning if you wish to take up this opportunity – let me know.

Project: Waterside Terraces
Developer: Stockland Group
Suburb: West

The Properties
Lot 7319 – 1 bedroom – $276,000 – $340 Estimated Rent – Click for Floor Plan
Lot 7320 – 2 + Study – $336,000 – $390 Estimated Rent – Click for Floor Plan
Lot 7319 – 2 + Study – $335,000 – $390 Estimated Rent – Click for Floor Plan

Why we like these

1.) Location
Don’t be fooled by the Western Sydney location – this is quality product in a quality area
– Waterside is a large masterplanned community developed by Stockland
– All other homes are freestanding new homes (generally 4 bedroom)
– Unlike smaller developments this community has reached an economy of scale
– Essentially you are buying into a vibrant community close to a bustling CBD
– Most land subdivisions in the area are selling off the plan
– The development enjoys a resort-style theme with “The Sanctuary” at Waterside.
– Imagine your own swimming pool, tennis court, playgrounds, BBQ areas, pocket parks and community pavilion exclusive to residents and guests.
– This is all covered by your strata and a huge draw card for the quality tenants

2.) Product
These Terraces fill a much needed shortage in supply – most of the area freestanding homes
– There will be a limited number of these terrace homes
– You would be aware there is a shortage of supply of housing in Western Sydney
– This is not set to change any time soon with so many hurdles faced by many smaller developers to get projects off the ground
– As with any market (including bananas, prawns, and property) there is a supply demand equation meaning as supply drops, prices go up
– This is especially relevant and true with rental properties in Sydney at present
– Whether you are one of our existing investor clients (or you own other investment properties) you would be aware of the significant rental increases you have gained over the last 36 months
– These one bedder terraces are the entry level on the rental market whereby almost the entire market is capable of purchasing or renting these.
– Thus we and other agents anticipate excellent rentals.

3.) Developer/Builder
Rest assured that you are buying blue chip
– We believe it goes without saying that there are substantial benefits purchasing off a developer like Stockland
– See www.stockland.com.au
– As a quick reference they are Australia’s largest diversified property group
– The builder is Richard Crookes Constructions – a significant and respected builder
– See www.richardcrookes.com.au/residential

4.) Price
Calculate how much you spend on muffins, coffee, and wine per week? Own one of these for the same amount!
– From $275,000 – you can’t really beat this price for a new dwelling in Sydney from top builder/developer
– No stamp duty payable
– You can’t really do much better on buying new property in Sydney for this price
– Bear in mind that with new you get all the depreciation benefits
– Talk to your financial advisor however these are pretty close to being ‘set and forget’ whereby not long before rent covers cost.

5.) Delayed Settlement
Don’t pay for 15 months!
– These homes won’t be completed until approximately October 2012
– This means you secure today with deposit and don’t pay balance for over a year.
– Whilst you can never guarantee price increases over this time – with supply shortages – you can make your own predictions.

6.) Deposit
– Stockland have generously allowed for $15,000 deposit only

7.) Rental Returns
– ULH currently manage a good number of properties in the Penrith area
– We have seen that new properties receive a significant premium over all others
– As technically everyone would prefer to rent a new home there is the distinct advantage that we can ‘cherry pick’ the best tenants
– With changing household demographics across Sydney there is a large number of people seeking smaller homes (relationship breakdowns, empty nesters, young professionals etc.)
– Currently in Penrith they are forced to rent either freestanding homes (expensive) or rent apartments in less desirable suburbs.
– As such we would be happy to enter into a side agreement to guarantee a rental return of 6.5% for 12 months as we are so confident

Cheers

The Land Sales Team at Urban Land and Housing

Posted in Current Projects, Uncategorized on 29th July, 2011 | No Comments »

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