Off-Market Buying in Williamstown…

Our most recent off-market purchase in beautiful Williamstown was one which was almost tailor made for our fantastic clients.Their search criteria for their investment property included a target purchase price around $600,000, a dated townhouse in a boutique block, and a property within easy walk to train station.

When the call came in about this 90’s era three bedroom townhouse in a group of just three, our inspections were quick to follow.

Wiillamstown is an interesting suburb. Arguably the prettiest suburb in the inner-west, this maritime township captures many hearts, particularly on weekends. A typical Sunday down on the strand is often characterised by picnics on the grass, fish and chips opened out, market stalls humming and bustling street-side cafes.

The tenant demographic is slightly different in this patch; often a returning expat or worker on professional contract. While professional tenants are the likely tenant market, young professionals which typically target places like Brunswick or Kensington are less likely to choose Williamstown.

Williamstown is tightly held and totally revered.

Those in Williamstown don’t just find themselves living here, they choose to live in WIlliamstown.

Capital growth over the last 20 years for units in the area show a greater performance than 8%pa, and the last twelve months’ of growth has also sat above 8%. Compounded with the age of the property, we felt our client’s opportunity to achieve a purchase with a high “Land to Asset Ratio” in a great, steady-performing suburb made this off-market a winner.

A long-winded series of negotiations ensured and our resultant price of $627,500 was agreed upon some two weeks’ later. With a new tenancy at $440pw and a short settlement, our clients can look forward to investment property ownership in a blue chip location next month.