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Furnished IP's

Discussion in 'Real Estate' started by Jacque, 28th Apr, 2008.

  1. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    I was chatting to a PM today about furnished IP's and he told me the demand for these is growing, specifically in the NorthWest region of Sydney, as the business parks expand to accommodate increasing numbers of corporate families moving in to work in the area.

    Has anyone here had any great experiences leasing these types of properties?
     
  2. Stevec

    Stevec Member

    Joined:
    15th Aug, 2005
    Posts:
    23
    Location:
    Sydney
    I've got a studio which at the moment is renting for 700p/w - based on a 7 week stay. Its in North Sydney, right next door to Navra offices. Before this current rental I was getting 650 p/w for 3 months. No forward bookings as yet.

    My sister has one as well, with views over the harbour towards eastern suburbs and the heads (mine has glimpses), but its unfurnished and is getting 350 p/w atm I think.

    If I had my chance again though, I wouldn't of bought this, didn't know any better back then. Under 50 sqm etc.

    I have been trying to flog it since late last year, as I have bought a PPOR. Started at 450K now at 360K, not desparate to sell so will keep the rentals going.

    Originally bought off the plan in 01 for 400K settled in 04.

    Cheers,

    Steve.
     
  3. DaveA

    DaveA Well-Known Member

    Joined:
    19th Feb, 2007
    Posts:
    617
    Location:
    Sydney, NSW
    Jacque,

    would love to here of some examples and if they are short term or long term stays. What grade of furnishing (ie do they want leather lounges, apartments with views, car parking)

    And even some estimated yields on what they are quoting