St. martins green, christchurch, off the plan townhouses
St Martins Green is a four-stage development with a mix of 2 and 3-bedroom townhouses, as well as dual key apartments (one bedroom + studio) in a location that is undergoing a significant building upgrade. The developer has designed the units so that buyers can pick and choose the inclusions that are built within the apartments. We have chosen to keep the options simple and have created a unique offering that we have tailored for our educated investors that minimises cost and maximises returns.
We believe that investors will benefit in outlaying a little extra now in the fit-out options to future proof their investment. Why skimp on a Formica bench that you may have replace in 5+ years when you can upgrade now to an engineered stone bench that will last for years to come? These options should ensure a long term and low-maintenance investment. We recommend including the furniture package in the studio to optimise rental returns. A furniture package is available at a 50% discount off the retail price and can be purchased now, or at a later stage. We have included this in the purchase price.
key investment results
Release date: 2015
Results date: 2017
Stock quantity: 67
Timeframe: 2.0 years
Equity created through value gain buying off the plan. High yielding dual income property.
Off the plan dual income townhouses
Purchase price: $365,000
Value at end: $465,000
Deal profit: $100,000
Deal profit: 27%
Yield on cost: 8.2%
This development is part of a larger 22,276m2, eight-lot development on Waltham’s southern fringe. While Waltham is generally considered a low socio-economic area, this development also lies just beyond the northern border of affluent St Martins. With such a very large area of brand-new housing, these new developments are being drawn into the St Martins fold as the name suggests – St Martins Green.
As such, this is a good opportunity to be part of a facelift or recreation of this area, which potentially could provide good capital growth as the redevelopment progresses. This historically run-down site is set to stand out in its location and be favoured over older housing in surrounding areas by tenants and owner-occupiers alike.