On Saturday 29 April the owners of 23 brand new units in Kangaroo Point got to view their off the plan investment property for the first time at the Think Investment Realty client open day to celebrate the near completion of the 46 Unit M Apartments on Main Street.
Most of these lucky investors started their ownership journey several years ago – before COVID! While some may assume the length of time between deposit and completion as a downside, savvy investors understand the huge benefits involved in a long settlement.
Think Investment Realty clients have ‘held’ the off the plan property for several years, without having to pay any more than a ten percent deposit. They have had no mortgage or holding costs such as rates and body corp fees to contend with, yet have benefited from the amazing rise in the market over the past 3 years.
As our client Claire said ‘it is amazing! Our property has only settled this week and we have made more than $180k on it already. That’s 400 percent return on the deposit we paid!’.
Development partner Anthony M Apartments Off The Plan Success Story Conomos and Think Investment Realty Property Strategist Troy Sussman recalled the project launch back in 2019.
“It all started with a beer in the pub across the road at the Pineapple Hotel” Sussman recalled.
“After working with Anthony on his three other successful Kangaroo Point developments over the last 10 years we knew as soon as this project was earmarked that it would be a massive win for our clients.”
“Because we have a close relationship with developers like Anthony, we can give early access to our clients to off-the-plan opportunities that are in well researched areas and delivered by the best of the best in terms of developers, designers and builders.”
Conomos spent years researching locations before settling on Kangaroo Point, and he hasn’t looked back. It has paid off even more for this project with a mind-blowing amount of infrastructure happening all around Kangaroo Point. From the redevelopment of the Gabba precinct for the Olympics, the multi-billion dollar cross-river rail project, the new walking bridge to the CBD and several other massive projects all kicking off within meters of the project.
Playing a long game with off the plan investments
“Some of the clients settling on these off the plan apartments are first time investors while others are well seasoned with 5 or 6 properties in their portfolio. Being able to manage a mixture of properties such as units, town houses and house and land packages shows the importance of mindset and understanding the fundamentals of investment.” Troy Sussman from Think Investment Realty explained.
“We are so proud of our clients that jumped on board with this project, we are so proud our research has again proven to be spot on. This project is one of dozens that Think Investment Realty has delivered that have not only achieved but far exceeded expectations.” Sussman added.
Open day showcases luxury finished investment product in the heart of Kangaroo Point
“We had more than 60 clients inspecting the units today. The overwhelming consensus is they all want to move in! The location and the finishes are just that good!” Conomos shared.
“It was like magic watching everyone walking through the development with their faces lit up like Luna Park, just so happy to take it all in.” Sussman added.
“At just 2km from the CBD, 1.7ha part across the road, $2.4 billion dollar Gabba precinct 150m away, cross-river rail, $5.4b at Queens Wharf, 2.2b at eagle street pier.
It’s the culmination of all those things that puts this project in the perfect spot, which is so exciting for our clients. Our investors are also blown away by the luxury finishes, from the tiles at the entry, the high end engineered timber flooring, the ducted air with individual zoning, the 40mm kitchen benches to the high end Italian glass mosaic splash-backs and handmade tiles in the bathrooms. With inclusions like upmarket blinds and block out blinds, luxury wool carpets and the exquisite timber panelling in the kitchens, and dryers installed in the laundries it’s no wonder they were gob smacked at the client open day.
‘Think Investment Realty educated investors to stick to the fundamentals of research based real estate selection and ignore the unwarranted fear caused by the media.’ Conomos shared, ‘like when post-COVID the Commonwealth Bank came out and said property prices were going to fall 20 – 30 %. Westpac said 10%.”
“During this time, our clients held on to these properties despite the fear factor, they withstood potentially some of the scariest hype we have been through in all time, but it turned out to be one of the greatest property stories of all time.” Sussman added.
“I think each one of the buyers on a two bedroom has made at least $150,000 in growth since their initial purchase, some even more. On the one bedders, maybe $100,000. To get that in a cycle is incredible. You have to wait for it, you have to be patient. But, at the end of the day what these clients are doing is playing the long game.”
“It comes back to the fundamentals of property investment,” Sussman adds. Conomos agreed; “Whilst some people buy property to take profit, ideally you are not buying to sell, It’s a long term plan all about accumulating property to provide an ongoing increasing income for themselves in retirement.”
A beautiful partnership between Think Investment Realty and the developer.
This is the fourth joint venture development between Artaria Developments and CHAD have delivered in the Kangaroo Point area and Think Investment Realty clients have been involved in each of them, achieving both strong capital growth and rental returns. Their fifth is ready to be launched in three or four months, just 150m down the road.
Troy Sussman from Think Investment Realty is again looking forward to connecting investors and home-owners with another great project.
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CLAIRE & TIM SIMMONS
“We have been clients of Think Investment Realty for years and we were so excited to get on board with this project. We had regular updates throughout the stages of the development, We had photos which was great to be able to see because we aren’t locals.”
But to actually now to be standing here in the apartments is just amazing. We received an invite to come and see the property which we were super keen to do before tenants moved in. So to actually come and see it in the flesh is amazing.
Claire, referring to Mary Durack, the interior designer behind the project, said “Mary, we love you, we have never met you, but you are phenomenal. The level of quality of the finishes and all the little touches you have added to elevate every space, and just create a sense of home in our unit has been huge.”
“Being here for the open day has been amazing. Anthony Conomos the developer personally taking us through the complex and our unit and taking the time to explain so much to us about all the ways that they have gone above and beyond to create this exceptional product has been so amazing.”
Want to see what off the plan opportunities are right for you? Make a time to come see Troy!