RARE Duplex Opportunity Available in Armstrong Creek - Geelong
Here is a rare Duplex package in Armstrong Waters Estate, Armstrong Creek, Geelong. This Duplex development provides the investor with the opportunity to create equity in this high growth location.
While we have Duplex’s in other regions with more equity and higher rental returns, the sales appraisal is more conservative than we was expecting and we think there will be more equity by completion. With current land prices you can’t build anything for $440,000. This is not only registered, but is DA approved with construction soon to commence, so very quick turnaround for a Duplex which will save the buyer thousands in interest.
The build price includes all DA and Strata Titling, to achieve two separate titles for each unit upon completion. While the package price is $885,000, each side should be worth conservatively $440,000 – $460,000 for Unit 1 and $450,000 – $490,000 for Unit 2 on completion, meaning equity of up to $65,000 in today’s dollars in this high growth location.
With Melbourne growing at an astonishing 125,000 people in 2016, its boundaries are exploding. To put that growth into perspective, at that rate, it will grow by a city the size of Adelaide in only 8 years. That is insatiable demand for new housing. The Victorian government understands the need to direct some of this massive growth to its second largest city Geelong. They have just cut payroll tax by 25% for Geelong making its tax rate the lowest in Australia which should have a huge impact on attractive local businesses. They have just doubled the FHOG to encourage buyers to relocate to Geelong.
Geelong offers a high standard of living and a spectacular coastal environment. Geelong is evolving from its traditional manufacturing base and expanding into a ‘new economy’ city with a broad range of industries and a growing population.
We are pleased to introduce Armstrong Waters Estate. Armstrong Waters is a master-planned residential subdivision set in the newly planned suburb of Armstrong Creek with many of the allotments having direct frontage onto and views of the new Armstrong Creek wetlands, parks and reserves. Only 10 minutes to Geelong CBD, School and University nearby, shops just minutes away and a huge new shopping centre being built on the Surf Coast Highway approximately 5 minutes’ drive.
Geelong, situated on Port Phillip Bay 75kms South-West of Melbourne, has long been known as a working class manufacturing city. But this image is transforming into a dynamic city with great lifestyle thanks to economic diversification, affordability and the old real estate mantra, location, location, location.
Geelong is Victoria’s second largest city with a population of approx 235,000 is set to grow by 36.5% to over 320,000 in under 20 years and more than double in size to over 500,000 by 2050.
For more info on this rare opportunity contact Chris now on 0434 449 455.