thought I would start a new thread on this seeing as several members seem to be involved here.
we just went down there and snapped up what is probably the last of the cheapies at $154k. there was one left but I think a couple were coming in to take that. Frustrating to think that a couple of motnhs ago I could have grabbed as many as I liked at $130k!! anway as KP has mentioned the settlement terms that the vendor seems willing to take are excellent. the price list for the next release seems significantly higher than these sorts of prices (from my 2 second look it appeared to be around $180 to $220k sort of money). the land is slightly elevated but there are no views.
Sales rep said that the only valuation sales he was aware of was one val at $450k and another (on the market or something?) at $495k. the homes there all look very large and there is the odd W&B so it seems to be a quality estate.
In comparison to the anchorage the raw land looks cheaper but the end sales higher. presumably the houses are taking some extra $’s to complete tho because of their size.
can’t see much down side to this pocket anyway.
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
I was looking at this area 12 months ago. Recently paid $149,500 for 601 sqm2 block (settlement – 2 months).
I am still scratching my head trying to work out why the land is so cheap, compared to other areas along this strip.
Cant really see how anyone could go wrong with this area.
Singleton has averaged 13% pa over 15 year period.
I have to make mention and give credit to Marisa who alerted me to this subdivision.
It shows clearly the value in networking with like minded investors.
I would not be able to get down to Singleton till late October and would have missed the boat by then.
But by exchanging views and idea with a handful of forumites, and by doing some due diligence in the area,I was able to come to a decision to buy with confidence.That to me is the beauty of this forum…the networking with like minded ppl.
Thanks to all for their input and help.
Looks like we’re on another winner with Singleton..
But I think that applies to most beachside area North and South of the river in Perth right now.
kp
Can I add a big thank you to Marisa as well. I had a look at Singleton for the first time over the weekend. I was thinking it was going to be a long trek into Perth but the drive out was a very comfortable 45mins on a freeway that still had a lot of 60km zones. The amount of developments over there is just incredible. Very impressed with Anchorage development. Just need to get the stigma out of Rocky… Stopped into Secret Harbour and there were people camping out already for the blocks on Fri morning! It was a very nice area though. Very very well planned with parks and fountains, lakes..etc.. unlike the sprawl over here in Syd. Oh, and theres that 18 hole golf course! Although rents are not the best, if you can afford the carry over build time, this whole region will be a very good long term investment. I think by the time you add back depreciation, you’ll be surprised how close it is to neutral/+’ve geared.
Margs was amazing too. Unfortunately I don’t think I can afford anything there especially at some of the surf beaches but Busselton seems to still be an affordable alternative and is still relatively close to the beach and vineyards. However building costs are around 10% more in the SW.
Looking forward to the next trip already…. could well be permanent the next time. Sorry guys, the secrets well and truly out….
Can someone please tell me where Singleton Beach is?
Cyclist
RealEstateDevelopmentCoach
http://qwertyu.colmkille.hop.clickbank.nethere you go….
http://www.singletonbeach.com.au/location.html
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
Mandurah WA
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958Errrrrr…Ausprop
This is the one that SOLD me…
Ooowwwwwwww !!!here’s the address for the land in front of singleton beach estate…
http://www.bayshore-garden.com.au/stage.asp?orgid=41&estateid=1&stageid=1
Bruce Chin is the Owner/Developer – he acutally sold off a chunk of his estate, which then became “Singleton Beach Estate”….
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.holidayhomeswa.com.au – Holiday Homes in Western Australia
http://www.wheretostaywa.com.au – Accommodation in Western Australia
http://www.homesearcher.com.au – List your property for FREEhey thanks for the info Wayne. the parcel of land in front of singleton beach estate will no doubt be carved up at some point in the near future… presumably at a lot higher prices.
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
Thats incredible Wayne,
Where did you get the map?
Its got the sewer run as well as the underground power domes on it. Great detail.kp
Originally posted by kp:Errrrrr…Ausprop
This is the one that SOLD me…
Ooowwwwwwww !!![biggrin][biggrin][biggrin]
And not a piece of land in sight..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorOriginally posted by waynel2:here’s the address for the land in front of singleton beach estate…
http://www.bayshore-garden.com.au/stage.asp?orgid=41&estateid=1&stageid=1
Bruce Chin is the Owner/Developer – he acutally sold off a chunk of his estate, which then became “Singleton Beach Estate”….
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.holidayhomeswa.com.au – Holiday Homes in Western Australia
http://www.wheretostaywa.com.au – Accommodation in Western Australia
http://www.homesearcher.com.au – List your property for FREEOuta my price range Wayne[confused2]
Especially considering it wont be bringing in an income unless i park some grey nomads, SKI’s (Spending Kids Inheritance)or a goat or two on the block..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatorgday guys,
i actually built the website, along with the interactive map… we got the original artwork from the surveyors – then we imported it into a web graphics program called “flashâ€.
I shouldn’t really go into it to much, though I’ve got a feeling that the area in front of singleton beach will be released very soon (wink, wink;)
If you’re interested it’s probably worth calling Bruce and having a chat to him about the future releases. I’ve seen copies of the stage maps so I doubt they will be far off from being released…. Though I didn’t say that:)
Even though Bayshore Garden’s lacks in their marketing and promotional material – I feel their land is better positioned….
Anyway..back to work!
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.holidayhomeswa.com.au – Holiday Homes in Western Australia
http://www.wheretostaywa.com.au – Accommodation in Western Australia
http://www.homesearcher.com.au – List your property for FREEhehe – yeah they’re not cheap Redwing!
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.holidayhomeswa.com.au – Holiday Homes in Western Australia
http://www.wheretostaywa.com.au – Accommodation in Western Australia
http://www.homesearcher.com.au – List your property for FREEMaybe..we can get a “Group” discount in the next subdivision?
;o)
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatorredwing – I think you are onto something. a pre-release direct sale of some of the premium lots.
tho they are better positioned they are also better prices (much higher) which would be my only concern.
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
that takes this discussion board to a new level huh? now we are bulk co-operative!
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
that’s not a bad idea Redwing!!
You could apply it to land estates across WA:) We could then all approach the same builder and get a discount on the houses too!!
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.holidayhomeswa.com.au – Holiday Homes in Western Australia
http://www.wheretostaywa.com.au – Accommodation in Western Australia
http://www.homesearcher.com.au – List your property for FREELooked into that estate too but its very exxy. I suppose its OK if you intend to live there rather than as an IP. Bruce is a very shrewd businessman who represents a group of investors thats been landbanking for what seems to me a long time now. Last I heard he was struggling to get council approval for that stuff up the front as they wanted them to put in more parks and stuff. I’m sure it’ll all be in the $200s though when he does finally get them through. Just look at blocks at the next estate down – Madora Bay I think. Doubt they’ll release any ocean front blocks soon though – would probably develop that themselves. Even if they did, I’d expect $450K+ but seems most developers are adopting that approach – sell the not so good blocks and keep the premium ones for later. If anyone does call him, see if you can get that group discount!
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