10 Burrows place, Frankton, Hamilton, TOWNHOUSES
Well designed, high quality, low maintenance, fully furnished townhouses in prime Hamilton location
Total 17 x 1 bed and 7 x 2 bed townhouses, 20 sold, 4 x 1 bed remaining
Opportunity for additional capital growth before settlement
Prices: 1 bed $389k - $395k, 2 beds $449k - $469k including carpark
The Hamilton townhouse market has matured and grown significantly over the past two decades as the price of land has risen. The Hamilton City median sale price has now passed the National Average. In the last 10 years the market grew 85% in value compared to 59% in the prior 10 years. This has driven up the demand and values in suburbs n the CBD fringe such as Frankton.
Dwelling type: Townhouses
Market rents 1 bed: $250 -286 p.w.
Median gross yield: 4.5%
Median sale price 10 years: +37%
Median sale price 20 years: +101%
Capital growth (20 years): 3.8% p.a.
Strategy: Off the plan
Upside: Growth prior to settlement
Wholesale bonus: $10k furniture pack
Lending: 80% LVR
Deposit type: Cash, equity
Carparks: 1 included
Valuation: Matches selling prices
Internal floor area: 1 bed 50 sqm
Frankton Townhouse MARKET PERFORMANCE
Townhouse median sale price July 19: $423,000
Townhouse sales volume: 11-22 per year
Townhouse days to sell: 60
Townhouse sales value: $5-$10 million per year
Market data sources: Real Estate Investar, Tenancy Services, REINZ, One Roof
FIRST HOME BUYERS
Dwelling: 1 bedroom townhouse
Purchase price: $389,000
Weekly cost to own: $435
FIRST HOME INVESTORS
Dwelling: 2 bedroom townhouse
Purchase price: $449,00
2 beds sold out
Assessed rent 1 bed: $390 - $420 p.w
Year 1 cashflows: 1 bed (+$36 p.w.)
Gross yield: 4.9%
2 beds sold out
PRICE AND AVAILABILITY SUMMARY
To reserve a property, request a contract, provide the details requested in the form and we will issue a conditional contract to you for signing. You have up to 48 hours from receipt of the contract to sign, or the property may be released to another buyer. This is not a binding commitment until the contract documents are issued and signed by both parties. Your contract will include a conditional period to enable you to complete due diligence and confirm finance. Until your contract goes unconditional, you are not obligated to purchase the property.
Loan length: 30 years
Interest rate: 3.75%
LVR: 100% Investors / 90% Home Buyers
Capital Growth: 3.8%
Valuation: Matches listing prices
Legal/Loan fees: $2,000
Rent: Market rents appraised by property manager
Body Corporate: $1,321 as per budget
Property Manager: NIL
First Home Buyers/Investors current rent: $300 p.w.
About the project
This new development features twenty-four 1 and 2-bedroom contemporary townhouses configured over two levels, with 1 and 2-bathroom options available. Thoughtfully designed for the modern homeowner or tenant, it will provide carefree living at a hard-to-find low price point. The décor throughout is neutral, allowing the new owner to add their own personal touches. One carpark per townhouse adds to the convenience. The houses will be provided fully furnished including an open plan Hostess designer kitchen,
Bosch kitchen appliances, a Fujitsu heat pump/air conditioning, washing machine, 43” or larger HD LED TV, USB charging power points, comfortable beds, curtains and blinds and more. Set back from the main road offering peace and quiet, the grounds will be extensively landscaped to create a comfortable outdoor living environment. This central location is a short walk to all amenities; the Dinsdale Shopping Centre and public transport links for easy commute to the CBD (7 mins), Hospital (8 mins) and The Base (15 mins). The Dinsdale Shopping Centre contains a Countdown Supermarket, medical centre, café, restaurant and bar, public library, fruit and vegetable store, takeaways and much more. All 4-levels of schooling are nearby.
The development is for sale turnkey with a 10% deposit and nothing more to pay until settlement, when the houses will be completed, furnished and ready to live in. The low sale prices mean that these homes qualify for the first home buyer grant.
Hamilton is New Zealand’s fourth largest city and the third fastest growing city after Auckland and Pukekohe and it represents an affordable location with high growth expectations. According to Visithamilton.co.nz the population of Hamilton was estimated at 156,800 in June 2015 - an increase of 15,188 people from the 2013 Census. The city is predicted to grow to 175,000 by 2022. Hamilton is located in the heart of the Waikato, one of New Zealand’s richest regions, responsible for 20% of the country’s total exports. Agriculture, biotechnology, light aviation, transport logistics, science research, education and healthcare lead the Hamilton economy, providing diverse employment opportunities in the city.
Hamilton urban area was estimated to have around 188,000 inhabitants in 2015
Has a youthful population, with nearly half under 30 years of age.
NZ’s longest river, the Waikato, flows for 16km through the city
Mild climate & moderate year-round rainfall keep the city and surrounding areas very green
Mean temperatures of 18°C in January (summer) and 9°C in July (winter)
135 parks/gardens and 58 sports areas and over 1,000 hectares of open space
More than 40,000 tertiary students choose Hamilton’s learning institutions every year
Home to the 26,000-person capacity Waikato Stadium