General Information

  • IRR%: 12.27
  • CoC%: 2.6
  • Minimum: 0 AUD
  • Type: -
  • Asset: -
  • Investors: 1.45k
  • Start Date: 2015-01-23
  • End Date: -
  • Target: 0 AUD
  • Completed: 100%

Additional Information

  • 18/5 Parriwi Road
  • 2088
  • NSW
  • Australia

* Spacious 2 bedrooms, 2 bathrooms, 1 car park unit which has been recently renovated to a high standard * Panoramic views of Sydney Harbour and Ocean, and in close proximity to popular beaches and parks * A long standing blue chip suburb, popular with high income couples and families * Set in a highly desirable location, with boutique shops, outdoor cafés and bars within close proximity * Catchment area for highly sought-after schools * Excellent transport links via road or ferry to Sydney CBD **The Property** Panoramic harbour and ocean views surround both sides of this two-bedroom, two bathroom residence, which has been recently renovated to a high specification. This 6th floor secure apartment enjoys magnificent views and easy access to Chinaman’s Beach, The Spit Marina and expansive parks and transport. The open plan living, dining and kitchen (fitted with Miele appliances) flow into the living room and is welcomed by oversized sliding doors that let in light and ocean views. The two bedrooms are both spacious; the master includes ocean views, built-in wardrobes and an en-suite. Other features include a car space, storage, lift, hidden laundry and intercom. **The Location** Set high on the hill of Sydney’s northern suburbs, Mosman has a long-term stay community thanks to its placement between road and ferry access directly to the CBD, and as the gateway into Sydney’s pristine northern beaches. The main artery to the CBD, Military Road, starts in Mosman junction and leads to the Sydney Harbour Bridge it boasts a huge range of conveniences from top private schools to banks, shopping centres and restaurants. Mosman village itself is an enclave of boutique shops and outdoor cafés and bars. Mosman contributes to Sydney’s famous beach culture with the nearby beaches of Balmoral, Chinaman’s and Clifton Garden Reserve, to name a few. Locals can also enjoy harbour shore cliffs walks, parks and Taronga Zoo. This selection of lifestyle opportunities has long attracted high-earning couples and families to this desirable part of Sydney. According to the most recent census, Mosman is particularly popular with families (44%) and couples without children (27%), accounting for 71% of the residents. In addition, over 62% of the residents work as either managers or in a professional occupation. The suburb also boasts significant resident income with 44.7% of households earning in excess of $130k. **The Investment Case** Exchange of the Mosman property occurred during January 2015. The property was acquired for $1.20m. Acquisition costs (including stamp duty, legal fees and buyers agents fees) were $54,048, 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 $5,952 was raised for the investment, giving a total asset value of $1.26m and a launch brick price of $126.00. An independent valuation conducted on 7 June 2016, has valued the property at $1.38m. As at January 2015, when the property exchange occurred, the property was tenanted at $990pw, providing an expected gross yield of 4.09% and net yield (paid monthly) of 3.33% following expenses. As at January 2015, Mosman had a historical capital growth rate of 6.10% per annum, based on the last 5 years. Assuming the continuation of this level of growth, BRICKX’s estimated return on investment (ROI) is 9.43%. This estimation was based on facts as at January 2015, 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 of operating expenses 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.

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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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