Battleaxe Block

[virgo]

Hiya

A quick question:

I have an offer to purchase a house (it would be for a rental) on a big block (more than 700 sqm) in Sydney for the price of a duplex (one third the size); only setback is it is on a battleaxe block.....the same house if on a regular block would cost 50K more...rental yield is more or less the same....


Would you do it? Love to hear your opinions to help make up my mind....

Also can one put a granny flat on a battleaxe block?

thanks! (BTW the price is in the mid 200s in Western Sydney and no; it is not Mount Druitt)

 

[onearmjohn]

I actually don't mind battle axe blocks. They can be quieter (if near a main road), provide privacy (surround perimiter with trees), have better views (if elevated) etc etc. I am sure that there are heaps of advantages as well as down sides.
If the rent is similar then that means an increased ROI and possibly LVR (if you are borrowing)..
I'll be interested to see what other think. Any pics?

 

[jrc77]

We bought a house six months ago and when looking we saw several battleaxe blocks - we didn't have any issues with them - (just didn't like the houses we happened to see on them)

Regards,

Jason

 

[twodogs]

I have found no problems renting battle axe properties, the privacy appeals to some people.

The NSW planning rules allow granny flats on battle axe, subject to much the some rules as other lots, but two dwellings enclosed in one little lot with one narrow road for an entrance, would not give the same privacy. You may want the gf tenant to park on the street.


But, given the rental demand in western Sydney, I'm sure someone will rent them but probably at a small discount to other properties.

Have you search Domain.com etc for what else is available to rent in the area?

 

[virgo]

Battleaxe

Hiya

This is getting very interesting; just found out that the house (in front of the battleaxe house i'm interested in) just went under contract at 340K. Block size is 560sqm whilst mine is 700 sqm plus....

Therefore my key issue is the discount of 70K sufficient for me to take a bite at the battleaxe house?

Also just found out the rental yield is gross 6.8% nothing to crow about in Sydney IMHO....

My head is spinning round and round atm ! SOS