- Demand for homes to rent at The Waterfront, Shell Cove outstrips supply
- Rental vacancy in South Coast dropped from 1.4 percent to 0.4 percent over the past year
- Investors see value in convenient harbourfront community
SYDNEY, 15 SEPTEMBER 2021
The high quality homes and spectacular harbourfront lifestyle at The Waterfront, Shell Cove continues to attract investors, who are benefitting from an influx of tenants to the region generally, and to Shell Cove specifically.
According to the latest Vacancy Rate Survey Results from the Real Estate Institute of New South Wales (REINSW)1, the rental vacancy rate in South Coast dropped from 1.4 percent to 0.4 percent in the 12 months to the end of June 2021.
“Rates in the Albury, Central Coast, Murrumbidgee, Orana, South Coast and South-Eastern areas all dropped in June. Feedback from our members in these areas indicates that stock is extremely tight, as tenants continue to exit the major metropolitan markets to secure a property that suits both their budget and desired lifestyle,” the REINSW report says.
This is proving true at The Waterfront, Shell Cove, a new community by Shellharbour City Council, with Frasers Property Australia.
“Our property management team is reviewing on average over 20 applications for every rental opportunity that becomes available, which shows just how strong demand is for rental properties at Shell Cove. We are expecting the interest from tenants to increase in the next few months as more coastal infrastructure and facilities open to the community,” says Simone Dyer, Development Director, Frasers Property Australia.
“No other location in NSW offers a large marina, ocean beaches, parks, a town centre, dining precinct and tavern, all within walking distance of new houses and apartments. The unique positioning of this idyllic coastal spot presents a prime investment opportunity.
“With land, houses, townhomes and apartments available, there is a property type to suit every budget and lifestyle at The Waterfront, Shell Cove.”
When it came to an investment property for architect Jock Robertson and his office manager wife Carol, the decision to invest in Shell Cove was clear.
“We were keen to buy an apartment in Shell Cove, as we are of the opinion that the area has excellent growth potential and provides attractive amenities,” Jock says.
“We’d like to be able to use the apartment as a weekend residence and holiday house for six months of the year, and rent for the other six months.
“That way, we derive a benefit for our family’s use, receive income which covers outgoing costs for the year, and obtain capital growth in the long term. It’s a win-win arrangement.”
When the couple bought a three-bedroom apartment in the Nautilus precinct in February 2021, the development features and regional drawcards sold themselves, says Jock.
“We purchased the apartment with views to the north and overlooking the harbour, which offered the perfect orientation and the amenity of three bedrooms with double frontage, allowing for cross-ventilation of the apartment,” he says.
“Frasers Property and Shellharbour City Council have created a desirable development, which offers a quality lifestyle with well-considered facilities that we consider ideal for our needs. The Kiama region and surroundings offer fantastic ‘get away from it all’ amenity, within reasonable driving distance from Sydney.”
As semi-retirees and empty nesters, the Robertsons also view the property as a long-term retirement option.
“It is definitely a possible place for us to fully retire to, when we get tired of living in Sydney,” Jock says.
Apartments in the luxury Ancora release are selling fast. Prices for the harbourside apartments with stunning harbour views start from $1,250,000 to $1,575,000 for a two-bedroom apartment and $1,495,000 to $1,950,000 for a three-bedroom apartment.
The Waterfront, Shell Cove is a masterplanned community surrounded by beaches, parks and wetlands but close to schools, transport and major centres.
A focal point will be the 270-berth boat harbour and Shellharbour Marina next to the lively town centre, featuring a retail precinct anchored by a Woolworths supermarket and specialty shops, restaurants on the marina’s edge, waterfront tavern, hotel, children’s beach, water play areas, library and community centre.
The Waterfront Shell Cove Sales Centre in The Waterfront Town Centre at Shops 1 and 2, 100 Cove Boulevard, Shell Cove is temporarily closed due to COVID-19 restrictions; however the team are available for online appointments and virtual tours via 13 38 38 or www.thewaterfrontshellcove.com.au.