Whole block apartment offerings on the rise in Sydney

Whole block apartment offerings on the rise in Sydney
Whole block apartment offerings on the rise in Sydney

A newly completed fully leased 12-unit block in Campsie has been listed for sale.

The 62 Second Avenue offering is among the raft of new boutique blocks that have hit the market in one line.

CBRE is also marketing a 30-unit block at 9 Campbell Street in Parramatta inconjunction with Walter Herrmann Real Estate.

The block of 30 apartments, comprising of five one-bedroom apartments; 21 two-bedroom apartments, four three-bedroom apartments plus one retail suite, had a gross annual income $823,887.

It is strata subdivision approved.

A nine-level 16-apartment apartment building at 50 Waverley Street, Bondi Junction is on the market through Metro Commercial Property Group.

CBRE's Robert Dowdy said the sellers - and developers - are looking to recycle their capital quicker through one-line sales.

The Australian Financial Review noted there was "good demand" for whole blocks of units, particularly from mum and dad investors with large portfolios, family trusts, self-managed and large superannuation funds.

There has been a regular supply of establish unit blocks for sale too.

At Homebush, an entire building of 10 by two bedroom already strata titled apartments are being offered in one line.

It is currently rented returning $224,000 approx gross per annum at 50 Burlington Road.

Tags: 
Housing Development Campsie

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