ENM01

General Information

  • IRR%: 4.08
  • CoC%: 2.65
  • Minimum: 74 AUD
  • Type: -
  • Asset: -
  • Investors: 1.93k
  • Start Date: 2014-12-12
  • End Date: -
  • Target: 681.5k AUD
  • Completed: 100%

Additional Information

  • 1/159 Enmore Road
  • 2042
  • NSW
  • Australia

* 1 bedroom, 1 bathroom unit with generous floorplan and open living space * Located in the Inner-West of Sydney, the suburb is rich in culture * Blue chip suburb with high rental demand due to its excellent proximity and transport links to Sydney CBD and the Airport * Property is set in the catchment area for highly sought-after schools * Popular amongst couples and Gen Y **Property** A generous floor plan features a large open plan living space that leads out onto a large balcony with unobscured views of Enmore. An entertainer’s kitchen with ample bench space, the large master bedroom hosts built-ins and an internal modern laundry and bathroom. Positioned in a new designer development, with an urban look and feel the block is well maintained and is a secure complex with all the amenities and lifestyle convenience of the Inner West on its doorstep. **Location** This rapidly gentrifying suburb extends from Newtown to Marrickville and is set to become one of the main arteries of Sydney’s cultural hub. A small concentrated suburb, at only approximately 1km in size, it’s seen a trend of nationally recognised restaurants open up recently. Enmore is in high rental demand for the affluent, upwardly-mobile and largely single or unmarried Gen Y median. In addition, Enmore has walking access to schools, bus and train connections to the Sydney CBD and the Airport, both of which are found 6km away in each direction. According to the most recent census, the predominant age group in Enmore is 25-44 years, accounting for over 49% of the residents. In addition, over 55% of the residents work as either managers or in a professional occupation. The suburb is particularly popular with couples both with children and without accounting for 54% of residents. Enmore also has a particularly high level of renters at 47.2%. **Investment Case** Exchange of the Enmore property occurred during December 2014. The property was acquired for $620,000. Acquisition costs (including stamp duty, legal fees and buyers agents fees) were $31,528, and will be subjected to linear amortization over 5 years (see Capital Returns Tab for a breakdown of Acquisition Costs). In addition, a cash reserve of $8,472 was raised for the investment, giving a total asset value of $660,000 and launch brick price of $66.00. An independent valuation conducted on 22 June 2016, valued the property at $640,000. As at December 2014, when the property exchange occurred, the property was tenanted at $590pw, providing an expected gross yield of 4.58% and net yield (paid monthly) of 3.44% following expenses. As at December 2014, Enmore had a historical capital growth rate of 9.34% per annum, based on the last 5 years. Assuming the continuation of this level of growth, BRICKX’s estimated return on investment (ROI) is 12.78%. This estimation was based on facts as at December 2014, and any subsequent changes to growth rates or levels of rental income would have an effect on estimated ROI. In addition, fluctuations in Brick Price will influence the effective return, and thus you should regularly refer to Returns and Valuation info on the summary page for the latest information. **Property Management** BRICKX uses a third party managing agent to manage the properties on behalf of investors. Investors will not be required to take an active part in managing a property and will not be consulted for any decisions relating to a property. The Manager will operate within the management agreement framework for all properties so that Investors are left only to manage their portfolio. The Manager pro-actively manages the properties to ensure that they are consistently let and kept to the highest standards to protect the Investors investment, both from a capital and rental income perspective. There may be periods of time where a property is vacant, and this is covered by a contingency fund that provides over 3 months of cover. The Manager has also put in place procedures to ensure that before a lease expires, the tenant will be asked to confirm their position with regards to the tenancy agreement. If the tenant does not sign a new lease within a certain time, the property will be advertised for lease. The rental price may be slightly reduced in order to attract a new tenant if necessary. BRICKX will always seek to achieve a balance between the forecast yield and market conditions to minimise the risk that the property is vacant beyond the 3 months that the contingency fund will cover. **Important Note** The advice provided to you is general advice only. It has been prepared and presented without taking into account your personal objectives, financial situation or needs. Before making any decision in relation to BRICKX or any products offered by BRICKX you should read the Product Disclosure Statement (PDS) and consider whether BRICKX is right for you. BRICKX products are issued by Theta Asset Management Limited (ABN 37 071 807 684) (AFSL 230920) (Theta). The Brick Exchange Pty Ltd (ABN 27 600 762 749) (BRICKX) is the manager of BRICKX Platform (ARSN 613 156 433). BRICKX is an authorised representative (001000043) of BRICKX Financial Services Pty Limited (ACN 616 118 988) (BRICKX Financial Services). None of BRICKX, BRICKX Financial Services or Theta, guarantee any rate of return or the capital value or return of any money invested. Past performance referred to is no guarantee of future performance of the relevant financial product and is not a reliable indicator of future performance.

Project offered by

Brickx

The BRICKX team is passionate about creating easy and affordable access to the property market for all Australians. With collective backgrounds in technology, p...

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