Sell the street
Residents in North Strathfield are joining the “banding together” trend in the hope of selling their homes in one “super lot”; that is estimated to reap as much as $90 million.
This trend of neighbours combining their homes into one large parcel to a developer, while gaining traction, is also sending chills down the spine of the smaller, suburban real estate agent who is being gazumped on individual listings.
Three investors have joined forces in the hope of selling their adjoining industrial strata properties in Sydney’s Alexandria for more than $25 million – and in the process reap up to 25 per cent more than if they were to go it alone.
The four strata units which make up the entire industrial estate at 64-66 Burrows Road occupy 4620 square metres of floor space on a site of 5543 square metres – a parcel with vacant possession that could appeal to industrial developers, large-scale land-bankers and owner-occupiers.
While the trend of selling collectively had been fierce in the residential market during the boom in the past few years, it is “quite rare” for multiple industrial owners to band together for a sale, LJ Hooker Commercial South Sydney selling agent Marcus Schraag said.
Super lot selling: How to turn a $2 million home into a $10 million windfall THERE was a bit of luck involved, but a group of nine Sydney neighbours have demonstrated how they sold their homes for up to five times more than they’re worth. CONSOLIDATING to sell: It’s when good neighbours become instant millionaires.
A group of nine homeowners in a quiet suburban street on Sydney’s north shore have pocketed an average of $7.3 million each after joining forces to sell up.
Thanks to the rezoning of a large portion of St Leonards, where the Holdsworth Ave and Canberra
Ave properties are located, the family homes on large, leafy blocks quickly caught the eyes of
The joint sale, which saw one homeowner trade a $2 million family home for a $10 million windfall, will see the undisclosed Hong Kong developer who bought the parcel build up to 250 apartments in the place of houses.
Selling agent JLL said the multi-million dollar sale was the first of its kind in the area, but eager residents either side of the soon-to-be high-rise apartments blocks were anticipating their own multimillion-dollar paydays.
Melbourne residents band together to sell homes as controversial Sky rail constructions begin A group of homeowners will auction off their properties as one unit as installation of the state government’s Sky rail project begins in Melbourne’s south-east.
Mr Bolt is one of four homeowners in Carnegie who have decided to collectively sell their properties as the $1.6 billion Sky rail project is rolled out.
At nine-metres tall, there are fears the elevated rail structure will impact the value of homes in surrounding areas.
It is hoped by banding the properties together, the group will be able to fetch a higher price. “;We’ve been approached over the years for development… but now we thought the best option for us if we all band together,” Mr Bolt said.
White gum valley???
WGV is well on its way to delivering more than 80 new homes and accommodating approximately 180 new residents through a range of housing options including apartments, maisonettes and 23
single residential homesites.
Opportunities to maximise views as well as accommodate climate responsive design to optimise energy savings have been built into the urban design. Throughout WGV vistas to green spaces, leafy avenues and community amenities have been integrated to optimise the liveability of the estate.
The design of buildings contributes to the activation of the streets, public spaces, and laneways. This has helped WGV to address the principles of One Planet Living and promotes a people friendly environment for all.