As a seasoned property investor and professional renovator, when I decided I wanted to build a boutique property development to add to my portfolio, I turned to an independent buyer’s agency to help me determine the best location, source the land and package the development. 

I have bought and sold many properties over the years as well as undertaken countless renovations and while I do have some past experience in development, I realised the need for strategic input from an expert.

I had a current investment portfolio comprising three properties and knew I wanted to buy land with the potential to sub-divide for future residential development, but was unsure how to best progres the concept. Through my research I found and appointed Crave Property Advisory, a buyers agency with specialised skills in property development and construction. 

They selected the most appropriate suburb and location to meet my criteria, and were also responsible for both sourcing and acquiring the property.  A 1,100 square metre site in Oxley Park in Sydney’s west ticked all of the boxes to meet short-term and long-term investment objectives. 

With a three bedroom house on the site, I am able to derive cashflow from the property while I prepare to build a brand new townhouse development of more than 5 homes. 

Crave Property Advisory identified and acquired the property on my behalf for $825,000 all within a one month timeframe from their first meeting. 

Oxley Park was the perfect location for me to see significant growth over the next few years. In addition to the growing residential population in Sydney’s west as buyers seek more affordable homes, some serious investment is being made into improving infrastructure in Western Sydney. Proposed projects such as the Badgerys Creek Rail Link could also provide substantial uplift to the value.

This property presented options for immediate rental income coupled with the long-term redevelopment potential.

The property is already delivering solid returns while I liaise with architects and prepare to lodge a Development Application for the proposed townhouses. I opted to rent the house on the short-term rental market using Air BNB, significantly increasing the returns with the added benefit of greater flexibility.

The short-term rental market provides far greater returns for me – I can get $650 per week rental compared to around $400 per week if I leased it in the more conventional long-term way. It also means I can start the townhouse build whenever I am ready to. The short-term rental approach has proven such a winner I intend to combine it with traditional long-term leases once the townhouse project is complete and will retain all townhouses as an on-going income stream. 

Importantly, Crave Property Advisory’s involvement has not ended with the transaction. I continue to receive valuable information and guidance about the various intricacies of development as I prepare my Development Application, as well as referrals to experienced professionals via Crave’s extensive network. 

The main reason I went to Crave was its expertise in sourcing property that matched my needs and their ability to source the other experts I needed. The majority of other buyer’s agents do not have in-depth knowledge into the finer detail of developments and are more focused on the transaction and acquiring the property.

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