Nova FM radio host Kent “Smallzy” Small has quickly sold his Waterloo investment property with a very bullish exit price.
The 110sqm, two-bedroom, two-bathroom unit in the trendy SJB-designed Casba complex had a $1.3 million price guide through BresicWhitney. But it sold within a week of listing for $1.57 million.
Raised in Sydney’s western suburbs, Smallzy travelled the world covering music events before the current entertainment industry lockdown, which has prompted him to put together a self-isolation playlist this week.
Smallzy had called the Dank St apartment home since 2015, paying $1.08 million for the apartment, which was built by Michael Grant’s Cornerstone just a year earlier.
The apartment became an investment in 2018 when he upsized, spending $2.1 million on a townhouse in nearby Alexandria. It had an initial $970-a-week asking rental, but the ongoing pinch in the oversupplied apartment rental market saw him more recently seeking $925 a week.
Currently Waterloo has 234 properties available for rent, according to realestate.com.au. Its units rent for $695 per week, reflecting a 4.3 per cent rental yield.
Based on five years of sales, Waterloo has seen an ordinary compound growth rate of 1.2 per cent. Notwithstanding the coronavirus cleanliness issues of open-for-inspections, estate agents across Sydney will face challenging times finding buyers as they deal with an influx of investment listings after Easter. There will be a spike in listings from get-out-early, worried landlords.
These landlords will be anxious about their rental income given their tenants, spending their down time — or “iso” — sunbaking when ever possible on overcrowded beaches, could face challenges paying rents should they be cut back to minimal gig economy hours or, worse, outright redundancy.
Of course many owner-occupiers and investors will also face employment issues.
But, unlike the early 1990s recession, they’ll probably have an investment apartment to offload rather than having to quickly sell the family home.
TV PRESENTER DITCHES BEACH FRONT
Channel 7 presenter Angie Asimus and her husband Chris Abbott have upsized on the northern beaches ahead of the birth of their first child.
The couple, who wed on Valentine’s Day last month after 12 years together, have moved inland from Collaroy to Belrose.
They’ve paid $1.55 million for an original 1970s single level family home, traded for the first time since 1984 at $139,500.
It was marketed by LJ Hooker Frenchs Forest agents Troy McKinstry and Shane Broekman as an exciting opportunity to create a dream home.
They only had it listed for 16 days before it sold.
Set on a 700sqm block, every room in the three bedroom house opens to the outdoor areas which feature gardens, front and back decks and a pool.
The Belrose median house price is $1,555,000 according to realestate.com.au
Asimus and Abbott have kept their Collaroy apartment which was bought for $870,000 four years ago. The two-bedroom apartment in a 1970s complex just off the beach has become a $700 a week rental.
Asimus (inset), who has returned to Sydney after being a newsreader in Brisbane, recently offloaded her former Brisbane home turned investment, for $629,000. She had paid $405,000 for the four-bedroom, 1980s Jindalee, in Brisbane’s west, in 2012.
Asimus started her career as a journalist in 2008 with Seven Queensland, working at its Townsville newsroom.
EXECUTORS LIST ANTIQUE DEALER’S CBD APARTMENT
A Sydney CBD investment apartment has been listed by the executors of the late antique dealer Martyn Cook.
It is in the Broughton House block on Clarence Street.
The two-bedroom, 115sqm apartment, which has been a $1050-a-week rental, has a $1.4 million guide through The Agency’s Andrew Thompson and Ben Collier.
Cook bought the second-level apartment for $700,000 in 2005.
Cook, who lost his battle last April with early onset dementia, was best known for his Queen Street, Woollahra salon. Over the decades he knew, and retold, amazing stories surrounding the provenance of the antiques, the sale prices and those who worked and shopped on the street. He was affectionately nicknamed “Radio Woollahra”.
Elton John was one of Cook’s enthusiastic customers, and was close enough for Cook to have been a godfather to Elton’s children.
Cook told me shortly before his death how much he was looking forward to seeing Elton’s family when they came for his epic Farewell Yellow Brick Road tour.
DINNIGAN PADDO PAD LACKING BIDS
The Paddington investment property of the fashion designer turned international tourism property entrepreneur Collette Dinnigan did not attract any bids when it went to auction yesterday.
There were two registered bidders who declined to go higher than the $1,725,000 vendor bid.
The two-bedroom 1850s home was offered through BresicWhitney by Dinnigan and her husband Bradley Cocks, who are in Italy, where they are quarantined in their 500-year-old Puglia farmhouse.
At the onsite auction optimistic old timers recalled stories of Sydney’s 1900 bubonic plague when lime, carbolic and sulfuric acid, where used to cleanse the laneways of the rat infected inner Sydney suburbs.
The property last publicly traded at $1.08 million in 2015.
VET’S FORMER HOME SOLD AGAIN
The former Bondi home of pioneering television vet Dr Chris Brown has been sold again.
The Dudley St offering fetched $4.65 million this time round through Goodyer Real Estate agent Amanda Balding.
It was onsold by restaurateur Micha Fort-Williams due to his relocation to New York.
The home had failed to sell earlier last year with another agency.
The Peter Dunkley-designed home, with top-end finishes, had been sold for $4.5 million in 2017.
Dr Chris had renovated after he paid $1.92 million in 2010, two years after he began Bondi Vet, the Network Ten show that shadowed him at work at a clinic in Bondi Junction.
The buyers are a local Bondi couple.