IP in Westmead (Sydney)

Hi,

This unit is for sale "off the plan" in Westmead (Sydney)

2 bedroom, 2 bathroom, 1 car unit with split
system air conditioning, balcony, video intercom, lift access
& security undercover parking, near the hospital, asking $415,000.

Good investment? Yes, No, Maybe?

Thanks
TGIF
 
westmead ip

Hi Farmilor,

Its a staged development called Park Central in Darcy St Westmead, estimated date of completion late 2011. Estimated rent $430 to $450. I dont know the area but want to buy something in NSW.

thanks
TGIF
 
Good investment? Yes, No, Maybe?

Yes - all of the above.

Yes - lots of depreciation on brand new. Low maintenance on brand new too. Westmead is in high demand by the Indian population.
No - you are paying the developer his profit margin and are likely to have low / no CG for the first few years of your investment. What are the strata fees like?
Maybe - OTP works well in a rising environment, which we are clearly in. BUT there are many risks. Do a search on OTP for some horror stories + some good stories.

I dont know the area but want to buy something in NSW.
Mmmmmm..........groans.............NSW is a big place. Why pick Westmead? (not saying it isn't any good)
 
Where in darcy street. Didn't think there was any room left for development.

Or do you mean the development in mons street?

Lots of 2 bed units in Westmead well under this price.
 
thanks for the feedback

What are the strata fees like? $3000 PA

Why pick Westmead? Near a hospitall, not far from Parramatta or the city


Where in darcy street? 29-33 Darcy
 
The property has lift access to all floors from the basement but no tennis courts or pool.

Thanks for your input

TGIF
 
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