Choosing the right investment property in Brisbane
At Ironfish we pride ourselves on our ability to spot unique property investment opportunities in up and coming areas – ahead of the rest.
In mid-2017, our property and acquisition team selected “Outlook,” a boutique development of townhouses in Chermside West, a suburb located about 10km north of the Brisbane CBD.
Situated opposite the expansive native bushland of Chermside Hills Reserve, the architecturally designed homes feature premium finishes and form part of a peaceful and welcoming neighbourhood. “Outlook” is also within close proximity to local schools, two major employment hubs and the newly revamped Westfield Chermside – now one of the largest Westfields in Australia.
This month the development was completed, delivering a very positive settlement experience which has exceeded our investors’ expectations. Rental demand has also been very strong.
“Our property manager has rented all 13 properties in the rental pool. This is exceptional considering the first settlements were completed on 5 April,” said Lennium Group Development Manager, Noel Shipp.
“The 3 beds are renting between $490 – $510 per week and 4 beds are renting between $530 – $550 per week.”
Candice Lowe, one of our investors in “Outlook,” Chermside West, had a tenant within 1 day of settlement.
Ironfish Property Investment Strategist Ilinna Avni introduced “Outlook” to her customer, Candice Lowe last year.
Ilinna was confident it would fit Candice’s criteria in terms of loan borrowing capacity, deposit required, cash flow support and portfolio diversification.
“Candice was particularly happy with this investment as the valuation was on contract price and the property was rented out within 1 day of settlement!” Ms Avni said.
“Thank you so much for all your help with both properties, Ilinna. We are both very happy with everything and have already found a tenant for the new property. We honestly couldn’t have done it without you.” – Candice Lowe, “Outlook” investor.
The 3-bedroom homes in Outlook were originally priced around the $530,000 mark and 4-bedroom homes were priced around $550,000.
“Outlook” at Chermside West – the end result
According to Ironfish Projects Manager William Mitchell, property in the area is already experiencing strong price growth.
“North Brisbane has been on our watch list for some time. This is a great area, close to major retail, hospitals, transport, employment, good schools. And suburbs in the area, like McDowall – which neighbours Chermside West – these are affluent suburbs which attract a premium demographic of mature professionals.
“What we’re now seeing is pricing for new townhouse developments has gone up 5-10% to around $570,000 since mid-last year. We expect this area will continue to have solid growth potential in the long term.”
Did you miss out on investing in Outlook? Contact your local Ironfish office today to learn more about other premium property investment opportunities in North Brisbane or register to access our selected properties list.