06 Nov 2019
SYDNEY, 6 NOVEMBER 2019
In an investment opportunity with a difference, Frasers Property Australia has released five new land lots at The Waterfront, Shell Cove, with an agreement in place to lease the lots back from buyers.
The five lots are now available via an Expressions of Interest campaign and range in size from 390 sqm to 450 sqm. They are currently in use as the builder’s display village and enjoy a central location close to the town centre, expansive parks and waterways.
The lots are being offered with a one to three-year leaseback arrangement in place, depending on the lot, with a 5 per cent gross rent return calculated on the land purchase price.
Expressions of Interest close on 21 November, so interested buyers are encouraged to act fast. Full details are available by calling Frasers Property on 13 38 38, or people can drop into The Waterfront Sales Centre.
Simone Dyer, Development Director – Shell Cove, Frasers Property Australia says the land has potential for capital growth and the leaseback arrangement will immediately start putting money back into buyers’ pockets.
“These land lots are superbly positioned close to the town centre, the stunning beaches and the harbour. This is a rare opportunity to secure a piece of the award-winning Shell Cove community in a very cost-efficient way,” Ms Dyer says.
“The guaranteed rental income on these lots means buyers have plenty of time to design their perfect home, while investors are likely to be attracted to the returns on offer combined with the capital growth potential. We have already seen record land prices set at The Waterfront, Shell Cove this year.”
In July, three oceanfront land lots at The Waterfront set a new record for land at Shell Cove. A 480 sqm lot sold for $1.42 million, while a 570 sqm lot fetched $1.5 million and the larger 740 sqm lot sold for $1.885 million.
Urbis identified there are no other locations in NSW that offer a large marina, ocean beach, parks, a town centre, dining precinct and golf course, all within walking distance of new house and land, highlighting the unique positioning of Shell Cove1.
Urbis compared the relative pricing of median houses in Shell Cove with four locations in NSW that it considered most similar: Nelson Bay in Port Stephens; Greenhills Beach and Caringbah South, both in Sydney’s south; and Newport on Sydney’s northern beaches.
All the suburbs including Shell Cove recorded average price growth above the Sydney average in the five years from 2013-2018, highlighting the attractiveness of waterfront locations with a marina and amenity.
The Urbis report found houses on the South Coast recorded a five-year median price increase of 9.2 per cent per annum from 2013-2018, highlighting the region as an emerging market experiencing substantial growth.
The Waterfront, Shell Cove is in a natural coastal setting surrounded by beaches, parks and wetlands but close to schools, transport and major centres.
The Shellharbour Marina and boat harbour now under construction will be next to The Waterfront Town Centre, stage one of which is open and includes a full line Woolworths supermarket, liquor outlet and nine specialty shops. The town centre will also include restaurants on the marina’s edge, a waterfront tavern, hotel, children’s beach, water play areas, library and community centre.
The Waterfront Sales Centre is at Shops 1 and 2, 100 Cove Boulevarde, Shell Cove. It is open seven days from 10:30am to 5pm. For more information call 13 38 38 or visit www.thewaterfrontshellcove.com.au.
1 Market Outlook – Shell Cove, Urbis, March 2019