Trigg ... 506m2 block for sale 500m from Ocean

I have a block at 53 Bailey Street Trigg which I bought with the intention of building a family home (Have council approved plans for double storey) My circumstances changed through a marriage breakdown and the property was put on the market in early 2008.

There was an offer at $1.2 million which at the time was $200k below market value ... The block was taken off the market mid 2008 and put back on privately about a month ago.

Prices have come down in Trigg and the best we have been told we can get is now is $900k - $1 mill

A local agent has said that building a $500k home on the land would put end re-sale value at $1.7 - $1.8 million. I just don't have the time to go through building right now.

The market is starting to turn around and agents are telling me to just sit on it for 12 months at which time the price should be back well above $1 mill.

If anyone on this forum (or if you know someone) is looking to move into this fantastic beachside suburb or an investor at the higher end of the scale is looking for a spec please send me a Personal Message ... I would consider all offers above $900k.

Joe
 
sorry mate - trigg is an odd ball. North Beach is as hot as can be, but Trigg seems to have stagnated. I would have thought a propoerty on Bailey St would sell pretty quickly though.
 
Usually happens ... Trigg jumped over 40% in one year in 06/07 and North Beach was a bit flat ... always knew they would come back

Trigg is having a re-surge now but mainly along Westcoast drive ... I guess it will kick in 500m inland soon

I have got a person looking at plans for it today ... so fingers crossed :eek:
 
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