Client Name: 
Withheld

Client Occupation:
Withheld

Client Location:
Abu Dhabi, UAE

The Brief: 
Our client was looking to purchase an investment property in Australia and commissioned Milk Chocolate to handle the entire process on her behalf. She has a goal to build a portfolio over the next 5 - 10 years and this is the first property in that process. She wants to use the equity in this property to purchase the second property and continue that process into the future.

Purchase Reason:
Investment Property

Property Address: 
Higgins, ACT

Purchase Price:
Withheld

Purchase Method:
Auction

About The Property: 
4 Bed / 2.5 Bath / 2 car - 884m2

• Zoned RZ2, so has the opportunity to sub-divide into 4 lots

• Original condition, so initial scope to do a quick cosmetic renovation to increase yield and create equity

• Large block at 884m2

• The property has character and street appeal

• 1-minute walk to the closest bus stop

• 16-minute stroll to new proposed light rail that runs direct into the CBD

• 10-minute walk to closest high school

• 18-minute walk to Kippax Fair shopping centre

• Nearby boutique retirement village with new commercial and retail opportunities approved

Our Services:

• Detailed brief and confirmed requirements with a reverse brief to the client

• Commenced search and viewed properties on behalf of our client

• Presented recommended properties with the key information and cash flows

• Presented town planning advice and renovation costs per property

• Bid at auction on behalf of the client

• Liaised with the client's solicitor and mortgage broker on the transaction

• Undertook extensive building inspections

• Recommended property managing agent

• Project management of renovations

Did we renovate:
We undertook a 3-week cosmetic renovation that included painting throughout, lifting up the carpet to expose the original hardwood floors that were sanded and polished. We also resurfaced the kitchen, update lighting and window furnishings throughout and new carpet in the bedrooms.

Rent:

$595/wk

Gross Rental Yield:

5.11%