Greenvale

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A Greenvale, Victoria mortgagee home has been sold at auction for $602,750.
It went to auction with a price guide of $560,000 - $600,000.
Last sold for $475,000 in 2015, the home sold for a tidy profit.
SItuated at <a href="https://www.realestate.com.au/sold/property-house-vic-greenvale-132708310" target="_blank">25 Giselle Circuit</a>, the four bedroom two bathroom home is located in the Lavinia Estate.
It is a 131 home estate developed by Marantali.
Nick Pugliese and Phong Ho of Barry Plant marketed the abode.
Set on 420 sqm, this open plan family home is located 30 minutes from the CBD.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in <a href="https://www.urban.com.au/property-observer" target="_blank">Greenvale</a> is $730,000, according to CoreLogic data.
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Greenvale, Victoria mortgagee home sold at auction

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A architecturally designed five bedroom Greenvale house on a 462 square metre of land has been sold by mortgagees for $832,000.
It was sold by Lilian Farrugia and Albert Edward from Stockdale &amp; Leggo Gladstone Park on June 2.
It was last traded at $762,000 in 2016.
<a href="https://www.realestate.com.au/sold/property-house-vic-greenvale-128229326" target="_blank">Located at 4 Kea Place, Greenvale</a>, in Melbourne's North, comes with five bedrooms, centralised family bathroom, kitchen on a grand scale and tiled alfresco.
Other features include video intercom, CCTV, alarm system, solar panels and double glazed windows. 
According to CoreLogic, the suburb's median house price sits on<a href="https://www.urban.com.au/news/10512-greenvale-vic" target="_blank"> $692,000</a>. 
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Greenvale five bedroom home sold for $832,000 by mortgagee

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Melbourne-based property group and fund manager OpenCorp has acquired new sites to host its latest crowdfunded house and land developments.
Located in Greenvale, 20 kilometres north of the Melbourne CBD, the 168-lot subdivision site is positioned close to the company’s sold out Umbra development. It will be the 23rd project OpenCorp has funded through a property development fund.
Currently under construction, Umbra already is projecting good returns for investors. OpenCorp is currently anticipating a total return of 110% against the forecast of 58%. Its 41% internal rate of return sits against the forecast of 30%.
Like Umbra, investors in the Greenvale development would subscribe to an OpenCorp managed property development fund to participate as equity partners in the new $46 million project.
Based on the success of Umbra, 70% of the $11.4 million of the equity being raised for the development has been committed by one major Melbourne investor.
“They participated in the first Greenvale development and were eager to invest in the subsequent similar development,” says OpenCorp director Allister Lewison (pictured above centre).
OpenCorp have also closed its capital raising offer with the $3.5 million fund being considerably over-subscribed.
The new development fund is forecast to provide investors a total return of over 54%, or an internal rate of return close to 23%.
“Our development funds provide a great way for family offices, high net worth clients and retail investors to invest in developments when they don’t have the time, money or skills to do so themselves,” Lewison says.
“Our 10 year track record combined with average returns of over 20% per annum are proving very popular with small and large investors, given the returns from other asset classes.”
The new Greenvale development is expected to attract first homebuyers seeking a site to build a family home at an affordable price point in anticipation of the City of Hume’s continued rapid growth.
“The Melbourne market continues to remain very robust for quality developments in the right catchments,” Lewison says.
“The sub markets in which we operate are very much focused on strong demand and supply fundamentals.”
Greenvale is located a 30 minute drive from the Melbourne CBD and 10 minutes from Tullamarine Airport. 
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