Local investors and self-managed super funds have bought into the first release at Carseldine Gardens, a $40 million established community 12.5km north of Brisbane CBD.
Owned by Alceon and marketed by Colliers International, the 143 one and two bedroom villas are occupied predominantly by the older demographic.
The onsite manager, Liberty Carseldine Gardens, has identified a shortage of affordable rental accommodation in the area designed for this market, and manage the project with this in mind to ensure villas continue to deliver strong returns and low vacancy.
Six investors in the first release have purchased under the guidance of professional advisors Marija Mladenovic and Alen Damjanovic from Almane Group.
“Our clients are mostly mum and dad investors looking to purchase property in self-managed super funds,” Mrs Mladenovic said.
“They are looking for affordable property that is de-risked with positive cash flow and other good investment credentials like strong occupancy rates.
“Carseldine Gardens ticks all of those boxes and we feel confident recommending this offering to our clients.”
Colliers International has also experienced a lot of interest from local residents looking to secure an affordable property that delivers cash flow today, and a low maintenance living option for the future.
“The affordability at Carseldine Gardens has allowed buyers to secure a low maintenance villa at a lower price to what they are selling their home for, giving them security and some money left over to fund their retirement,” said Rachel Hutson of Colliers International.
According to Andrew Roubicek of Colliers International, no other project in the surrounding area is able to offer a proven investment with sub $300,000 entry prices, tenants, an onsite manager already in place and yields averaging over 6 per cent.
“By comparison, Urbis is tracking the median unit price in Carseldine as $403,000 and the rental yield at around 5 per cent. This is a safe investment option considering the average term of occupancy of the current tenants is 4.5 years and average vacancy rate over the past 5 years has been below 2 per cent.”
Second release at Carseldine Gardens is now available with 1 bedroom villas selling from $275,000 and 2 bedroom villas selling from $292,500, providing rental returns of up to 6.68 per cent.
A sales display is available by appointment, contact Nikki Scott on 1800 906 402 or visit www.propertyinvestmentnow.com.au