Sutherland Shire

<p>Sydney property developers Fyve are heading south of the city for their latest residential development.&nbsp;</p>

<p>The group has lodged plans an amalgamated site in the heart of the Shire, with WMK Architecture behind the designs for the 36 apartments at 15-19 Pinnacle Street, Miranda.&nbsp;</p>

<p>A mix of apartment types will be delivered across a five-storey building, with four one-bedroom, 28 two-bedroom, and four three-bedroom apartments planned.&nbsp;</p>

<p><img alt="Render of the proposed Miranda apartment development" data-entity-type="file" data-entity-uuid="8ad956c2-7413-434c-b757-116ff7fef8b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-09-26%20at%2010.38.22%20pm.png?VersionId=qiH2X2G2ZW18gC3KXMPA6LB38p6FIwi0" /><em>Render of the proposed residential development at&nbsp;at 15-19 Pinnacle Street, Miranda.</em></p>

<p>Following an open plan design, the living, dining and kitchen areas adjoin to generously-sized open spaces, in the form of balconies and terraces, connecting the indoors with the out whilst also providing additional living space.&nbsp;</p>

<p>Light and dark brown cladding will encompass a majority of the built form, with similar colours and materials used throughout, tying the project to the local environment.&nbsp;</p>

<p>In keeping with the natural surrounds, landscaping and greenery plays a pivotal role in the development, not only in the form of open communal spaces across the ground floor, but in softening the edge of the building and providing clear entry points into the building.&nbsp;</p>

<p>Landscaping will also enhance the privacy of the internal courtyards and balconies, without impeding views from the site. &nbsp;</p>

<p>Fyve has a steady pipeline of projects in the works, with the group also behind the plans for Liverpool's tallest apartment tower, which only recently launched to the market.&nbsp;</p>

<p>Dubbed The Liverpool, the 34-storey tower will deliver 193 apartments, along with a 93-room hotel, 6,500 sqm of commercial space, and a range of ground-floor retail tenancies.</p>


While not only providing stock to a market that is strong in demand, especially in the Shire area, the proposed development also benefits from close proximity to public transport along with the Miranda Town Centre. 

alisonwarters@gmail.com

Sydney developers Fyve lodge plans for Miranda apartment project

<p>The boutique Sydney developer Fiducia is set to launch its latest apartment collection to the market, an exclusive range of 12 Mediterranean-inspired residences in the heart of the Sutherland Shire.</p>

<p>Callista, derived from the Greek word for ‘most beautiful’, is positioned in one of Cronulla’s most intimate beachside neighbourhoods, with the apartments featuring design pieces hand selected from the European coastline.</p>

<p><img alt="Render of the proposed Cronulla apartment project, Callista" data-entity-type="file" data-entity-uuid="971c72a3-78b0-4b10-95f3-c7fff712aba7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/LAANSTUDIOS_S010_HERO_FINAL2500%20V2.jpg?VersionId=UC4ED_IrEFlgpyOD2FXCH11V.BNAbAQ0" /></p>

<p>Two, three and four-bedroom apartments are on offer on, with the apartments extending onto either lush garden courtyards or balconies, with the four-bedder dwellings on the higher levels benefitting from ocean views. &nbsp;</p>

<p>Fiducia’s Development Director, Marie Doyle, said the group have long had a love and history of delivering boutique costal apartments, with it only being a matter of time until they developed in Cronulla.</p>

<p>“Callista offers something for a range of buyers from young professionals, downsizers with a love for beachside proximity or locals simply seeking an upgrade in living," Doyle said.</p>

<p>Prices begin at $2.2 million for a two-bedroom courtyard apartment, ranging up to $7.3 million for the four-bedroom penthouse.</p>

<p><img alt="Render inside one of the proposed Cronulla apartments at, Callista" data-entity-type="file" data-entity-uuid="b7a37ff6-3f12-47fa-b2fb-937edf0c4cb2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/LAANSTUDIOS_4.01%20PENTHOUSE%20LIVING_FINAL2500.jpg?VersionId=Jt3F5AQE1E7jvhEFJVmZLoSQmqTvhqK6" /></p>

<p>Fiducia have appointed interior designer Chloe Matters to handle the interiors of the apartments, which are designed by local architects Peter Courvaras.</p>

<p>“We wanted to bring together an organic palette rich in texture with elements of rustic stone, natural whites and materials that conjured up that effortless feeling of summer on the Mediterranean coast,” Doyle added.</p>

<p>Callista will also offer residents a communal pool, barbecue area, outdoor shower and surfboard racks.</p>

<p>Highland has been appointed as the exclusive selling agent on the project. Highland CEO David Highland saying the project will set a new benchmark for luxury in apartment living in Cronulla.</p>

<p><img alt="Render of the proposed Cronulla apartment project, Callista" data-entity-type="file" data-entity-uuid="a93da543-d87b-474a-b198-011ae877fa76" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/LAANSTUDIOS_COMMUNAL%20AREA_FINAL2500.jpg?VersionId=R4cBZa4EwuzafpZl3VKM6h5XmTocnXsb" /></p>

<p>“With an obvious nod to European design and styling not seen before in Cronulla, Callista will offer buyers something very special and unique," Highland said.</p>

<p>"I’m excited to see Fudicia’s new project come to life."</p>

<p>Established in 2004, Fiducia has completed over 700 residences to date, picking up a string of awards along the way, including from the Urban Development Institute of Australia (UDIA NSW), Housing Industry Australia (HIA), and REINSW.</p>


Fiducia set to launch luxury Cronulla apartment project, Callista 

<p>Modern Developments has dipped their toe in the waters of the Shire to bring to life their latest residential offering, Eterna.</p>

<p>The Sydney-based company has developed a reputation for delivering high-value residential and mixed-use developments in Sydney’s prestigious Upper North Shore, St George and Inner-city regions since establishing themselves back in 2001, with Eterna being no different.</p>

<p>[smartcode_project:default project_id=109837 project_image_fid=184579]</p>

<p>Curated by North Sydney architects, Krikis Taylor, the residences have been designed with a focus on oversized layouts, with living spaces offering floor-to-ceiling windows, connecting the inside to the out and allowing natural light to filter through while opening various view aspects.</p>

<p>Inspired by its surroundings, Eterna apartments feature an array of one, two, three and four-bedroom apartments with a modern yet timeless palette that balances both dark and light tones.</p>

<p>Each section of these residences have been meticulously-finished with the finest of materials. The kitchens boast premium Caesarstone benchtops, contemporary glass splashbacks and quality ILVE appliances paired with soft, Grey Oak floorboards leading to the bedrooms which feature plush carpet throughout, while the bathrooms have been designed with a spa-like essence.</p>

<p>[smartcode_project:default project_id=109837 project_image_fid=184584]</p>

<p>One of the standout features tying Eterna to its surrounds is the level six rooftop, complete with seating spaces, barbecue amenities and lush greenery, set against a backdrop of sweeping Shire views.</p>

<p>Positioned close to transport, cafes, lush greenery and neighbouring suburbs with an array of dining and shopping options, the desirable Shire address also benefits from connections to the ocean and surrounding Royal National Park.</p>

<p>[smartcode_project_cta: project_id=109837]</p>


Inspired by its surroundings, Eterna apartments feature an array of one, two, three and four-bedroom apartments with a modern yet timeless palette that balances both dark and light tones.



Modern developments behind Shire residences, Eterna 

<p class="rtejustify">The Sutherland Shire&#39;s newest striking apartment development, Grand Vermont, has officially sold out.</p>

<p class="rtejustify">The development of 100 apartments at 48 Vermont Street was designed by Benson McCormack Architects (BMA)&nbsp;with a sleek, curved facade, bending around&nbsp;all four of the buildings to create a wave-like feature.</p>

<p class="rtejustify">Grand Vermont was developed in a joint venture between property developers Hone Constructions and Holis, who have over 15 years experience in the property industry.</p>

<p class="rtejustify"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/grand_vermont_exterior.jpg" width="1200" /></p>

<p class="rtejustify">First home buyers were keen on the development, particularly at the start of the year with the raft of government incentives. One-bedroom apartments were priced from $550,000, two-beds from $730,000 and three-bedroom apartments from $1.2 million.</p>

<p class="rtejustify">Each apartment was kitted out with built-in Fisher &amp; Paykel appliances, Tongue n Groove engineered European oak flooring and Caesar Stone kitchen benchtops.</p>

<p class="rtejustify">HAUS Agency director Alex Vrisakis said they saw strong sales as the building nearing completion.</p>

<p class="rtejustify">&quot;Many buyers were able to try before they buy,&rdquo; Vrisakis said.</p>

<p class="rtejustify"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/grand_vermont_interior.jpg" width="1200" /></p>

<p class="rtejustify">&ldquo;They were able to physically stand in the kitchen or bathroom of the apartment they had their eye on, see the aspect and view, and measure for furniture, which really boosted the final few sales.&quot;</p>

<p class="rtejustify">Vrisakis said owner occupiers made up 85% of buyers, he added was&nbsp;very telling in this market.</p>

<p class="rtejustify">&ldquo;We saw enquiry from all over Sydney, but ultimately Sutherland Shire based buyers snapped up most of the units, taking advantage of up to $30,000 in Government first home buyer support. We&rsquo;re seeing the appetite for quality apartments has not wained, and achieved great prices.&rdquo;</p>

<p class="rtejustify"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/grand_vermont_lawn.jpg" width="1200" /></p>

<p class="rtejustify">More than 40 per cent of apartment sold within the first three months of its launch in December 2020.</p>

<p>Sean Dowling, another director at HAUS Agency Director, said it was not a surprise to see the majority of&nbsp;buyers have come from within the Sutherland Shire.</p>

<p>&quot;When physical inspections were not able to happen, we created virtual tours, so buyers would meander through the apartments, common areas and street front from their own home.&rdquo;</p>


Joel Robinson

Grand Vermont, Sutherland Shire's latest apartment development, sells out

<p>First home buyers have been driving enquiry for the new Sutherland development Grand Vermont, which is nearing completion.</p>

<p>The 100-residence project&nbsp;at 48 Vermont Street, Sutherland, is being developed jointly by construction veterans and well known property developers Home Constructions and Holis.</p>

<p>Benson McCormack Architects have handled the design of the building, with a sleek and unique fa&ccedil;ade the stand out, with the curved architecture encapsulating residents from the street below.</p>

<p><a href="https://www.urban.com.au/new-apartments/grand-vermont-48-vermont-street-sutherland"><img alt="" height="877" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/grand_vermont_sutherland_3.jpg" width="1200" /></a></p>

<p>HAUS Agency Director, Alex Vrisakis, said the development offers all the comforts you need in a first home, or perhaps to downsize from the family home.</p>

<p>&nbsp;&ldquo;We&rsquo;re seeing first home buyers from all over Sydney take advantage of up to $30,000* in Government first home buyer support.&rdquo;</p>

<p>[smartcode_project:default project_id=89712]</p>

<p>Since its sales launch, Grand Vermont has sold over&nbsp;40% of apartments&nbsp;during the COVID-19 pandemic. Enquiries have come not just from within the Sutherland Shire, but from greater Sydney.&nbsp;</p>

<p>&ldquo;75% of enquiry on Grand Vermont has been from first home buyers, and 15% of enquiries have been from owner occupiers,&rdquo;&nbsp;Vrisakis said.</p>

<p>&ldquo;We&rsquo;re seeing interest not just the Shire, but areas like the North Shore, Inner West Corridor and the Illawara, from those looking for a sea change.&rdquo;</p>

<p>One bedroom apartments start from&nbsp;$550,000, with two bedrooms priced from $730,000, meaning there&#39;s no stamp duty to be paid on those bedroom configurations.</p>

<p>Three bedrooms start from $1.2 million.</p>

<p>The development is located 35 minutes by train to Sydney CBD, less than 5km to Westfield Miranda and&nbsp;Cronulla Beach.</p>

<p>Each of the one, two and three bedroom residences have been designed to capture as much light as possible.&nbsp;They all feature&nbsp;Fisher &amp; Paykel appliances and&nbsp;20mm Caesar Stone benchtops in the kitchen and&nbsp;Tongue n Groove engineered European oak flooring.</p>

<p><a href="https://www.urban.com.au/new-apartments/grand-vermont-48-vermont-street-sutherland"><img alt="" height="895" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/grand_vermont_sutherland_2.jpg" width="1200" /></a></p>

<p>There is a lush communal landscaped outdoor area for residents which keeps&nbsp;strata fees low.</p>

<p>In 2020, Sutherland Shire was voted the #2 most liveable location in Australia in a survey by market research leaders Ipsos.</p>


Find out why first home buyers are flocking to new Sutherland apartment development Grand Vermont

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<p>Sydney first home buyers should consider looking at suburbs further from the CBD, with good transport links, according to HTW’s <em>Month in Review: March 2017</em>. </p>
<p>The valuation firm says Hurstville and Sutherland are hubs on the eastern suburbs/Illawarra railway line which may be attractive options.</p>
<p>“First home buyers should be cautious of areas where a large number of units have been constructed and are about to commence as this could lead to an oversupply and put downward pressure on both prices and rents,” the report says.</p>
<p>“Botany/Mascot and Waterloo/ Zetland/Green Square in the inner-south, and Miranda in the Sutherland Shire are potential areas of concern.”</p>
<p>“Just remember if you’re a first home buyer stretching yourself too thin by purchasing something you can just barely afford, is risky – interest rates will start to rise at some stage so it is important to have a buffer built-in to your ability to finance your loan.”</p>
<p>Options are limited for first time buyers throughout greater Sydney and surging prices for the past few years has made it difficult to get into the market.</p>
<p>CoreLogic reports the median house price is currently sitting at $850,000, with a 20% deposit this translates to $170,000.</p>
<p>“The two biggest issues young buyers and first home buyers need to address are price and location. Firstly work out what is affordable and sort a mortgage that is serviceable,” HTW says.</p>
<p>It says the main areas for affordable housing and entry level investment with long term growth prospects are located on the outskirts of Sydney –</p>
<p>• Outer western Sydney, suburbs such as Penrith; Kingswood; Jordan Springs; Ropes Crossing with a median price for a 3-bedroom house at $570,000; $530,000; $625,000 and $595,000 respectfully. (domain)</p>
<p>• South west of Sydney, suburbs such as Leppington, Gregory Hills and Oran Park requiring $660,000 to $700,000 for the same 3-bedroom product.</p>
<p>“New estates within the south west growth precinct present solid long term growth opportunities thanks to the substantial infrastructure spending including Badgerys Creek Airport, investment in surrounding employment areas and updates to transport links.</p>
<p>“As recent times has shown us if you want growth then follow the infrastructure.</p>
<p>“We note land in Austral within a recently released subdivision starts from circa $360,000 and 3-bedroom house and land packages from $615,000, well below the Sydney wide median figure of $850,000.</p>
<p>“In addition to the lower entry point, this region presents a good option for both investors and owner-occupiers thanks to depreciation benefits, government incentives of buying a new property and most importantly capital growth prospects.”</p>
<p>A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-penrith-124757482" target="_blank">44 Allard Street</a>, Penrith (above) has been listed for $640,000.</p>
<p>Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-ropes+crossing-124590474" target="_blank">16 Maiden Street</a>, Ropes Crossing (below) has been listed for $629,000.</p>
<p><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/2017/03/09/16%20Maiden%20Street.jpg" alt=""></p>
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jonathanchancellor-7SQnKwU6yx

Go west to find affordable Sydney locations

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<p><span>Downsizers are playing a significant part in driving the local market in the Sutherland Shire, as they sell their larger family homes for smaller three- bedroom units or duplex homes, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm took a look at what things traditionally matter to property markets and how current crisis is playing into decision making. </span></p>
<p><span>"These types of properties appeal to the downsizer market as they cash in on their large family home for a more modern and low maintenance alternative," the valuation firm said. </span></p>
<p><span>Prestige units located in central </span>areas near transport and shops have always been popular with the empty nester demographic and more recently, low maintenance duplexes with a lift, minimal stairs or the ability to have a bedroom and bathroom on the ground floor are also proving popular.</p>
<p>A one bedroom apartment with parkland views in Miranda has recently been sold for $531,500.</p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-miranda-133200262" target="_blank">74/7-15 Jackson Avenue</a> (pictured below), the apartment is close to Miranda Station, shops, cafes and restaurants.</p>
<p>It comes with kitchen with gas appliances, enclosed balcony, sleek bathroom and lock up garage. </p>
<p><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/2020/4/14/miranda%201.jpg" alt=""></p>
<p>"We have also noticed a trend in the downsizer market to demolish the existing family home and build a duplex pair, staying in one and selling or renting the other," the valuation firm said. </p>
<p>The report notes upgraders have also been active in the market over the past six months, with young families moving from a unit or townhouse to a detached dwelling or duplex.</p>
<p>"Upgraders are looking for something near transport, schools and shops, and often prefer modern or renovated properties so that they can move in with nothing to do.</p>
<p>"This is a change to what we have seen in the past as this demographic tended to prefer a dwelling they could renovate themselves and therefore increase the value," the valuation  firm continued. </p>
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<p><span>First home buyers are generally attracted to two- bedroom units along the railway line, particularly from Sutherland to Cronulla.</span></p>
<p><span>A two bedroom apartment in Sutherland is currently on the market with a price guide of $600,000 - $650,000.</span></p>
<p>The two bedroom, one bathroom apartment is situated at <a href="https://www.realestate.com.au/property-apartment-nsw-sutherland-133409382" target="_blank">17/76 Auburn Street </a>(pictured below). </p>
<p><span>It comes with open plan living and dining area, covered </span>balcony, modern kitchen and double garage. </p>
<p><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/2020/4/14/sutherland.jpg" alt=""></p>
<p><span>However the recent increase in new unit complexes around the Miranda, Kirrawee and Caringbah areas created an oversupply with developers having to implement incentives such as cash back or stamp duty rebates to clear the remaining stock, the report notes. </span></p>
<p><span>"This oversupply issue has started to ease in recent months as the number of complexes under construction has reduced. Despite this we are still seeing examples of units that were completed mid 2019 for sale, with developers offering incentives to clear the remaining stock," the valuation firm said. </span></p>
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j.ballantyne1990-6AQqhLzZaK

Sutherland Shire property market driven by downsizers: HTW residential 

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<p><span>The Shire has been transforming over the past decade or so as there has been changing demographics, ageing and increasing population, and particular areas becoming gentrified for various reasons, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The report notes that the Sutherland Shire is located approximately 20 kilometres south of Sydney CBD and covers a large area from Waterfall, Menai and Sylvania to Cronulla and Kurnell, and includes approximately 218,000 residents (2016 census).</span></p>
<p><span> Most residential construction throughout the Shire took place from circa 1950s onwards and included traditional three- and four-bedroom fibrous cement and brick veneer dwellings on standard allotments of at least 500 </span>to 600 square metres.</p>
<p>The report notes these properties were the main style of construction throughout the Shire and were family homes.</p>
<p>Higher density construction commenced around the 1960s and 1970s, mostly around Cronulla and along the train line.</p>
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<p><span>"Another driver of shifting demographics and changes to buying patterns is flexible workplaces and improved technology," the valuation firm said. </span></p>
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<p><span>This is particularly evident in the suburb of Caringbah which is generally divided into Caringbah South, Lilli Pilli and Dolans Bay on the southern side of the peninsular and the northern part of Caringbah which adjoins the suburb of Taren Point further north. </span></p>
<p><span>This suburb once consisted of traditional style family homes on above average sized allotments however due to the aforementioned reasons it now comprises varying examples of developments ranging from high density developments along the transport corridors, medium density townhouse style properties, duplexes and also seniors housing which are generally reserved for residents who are over 55 years of age.</span></p>
<p><span>A near new one bedroom plus study apartment (pictured below) in Caringbah was sold for $570,000 in December, 2019.</span></p>
<p>The apartment at <a href="https://www.propertyobserver.com.au/The%20Shire%20has%20been%20transforming%20over%20the%20past%20decade%20or%20so%20as%20there%20has%20been%20changing%20demographics,%20ageing%20and%20increasing%20population,%20and%20particular%20areas%20becoming%20gentrified%20for%20various%20reasons" target="_blank">307/316 Taren Point Road</a> comprises caesarstone kitchen, bedroom plus study nook, internal laundry and entertainer's balcony. </p>
<p>Other features include ducted air-conditioning, gas heating, timber tiles and communal rooftop terrace. </p>
<p><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/2020/3/16/caringbah.jpg" alt=""></p>
<p>Another three bedroom apartment in Caringbah (pictured below) with panoramic views was sold for $1.18 million in November, 2019. </p>
<p>The townhouse style apartment at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-caringbah-130377786" target="_blank">607/22 Banksia Road</a> comes with three bedrooms, three balconies, open living area and large kitchen. </p>
<p>Other features include timber flooring, spacious laundry and three storage areas. </p>
<p><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/2020/3/16/caringbah%202.jpg" alt=""></p>
<p>A four bedroom townhouse situated at<a href="https://www.realestate.com.au/sold/property-townhouse-nsw-caringbah+south-131750142" target="_blank"> 2/9 Alice Street, Caringbah South </a>(pictured below) was sold for $1.4 million in September last year. </p>
<p>The brand new home comprises designer kitchen, four bedrooms with built-ins, open plan living and alfresco entertaining area.</p>
<p>Other features include west facing entertainers deck, grassed yard and secure basement parking.</p>
<p><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/2020/3/16/caringbah%20south.jpg" alt=""></p>
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<p><span>Development throughout Caringbah has been somewhat assisted by the above average land sizes that allow for duplex and townhouse style developments. </span></p>
<p><span>Many of the baby boomers have sold their large, older properties to younger generations and young families which is also encouraging </span>new non-residential development such as cafes, restaurants, hotels, pubs and the overall changing demographic of the area, the report suggested. </p>
<p><span>"The current low interest rate environment and overall positive market sentiment is likely to fuel continued construction and renovation, particularly in the first half of 2020," the residential report notes. </span></p>
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The Sutherland Shire market : HTW residential 

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<p>In the Sutherland Shire, $700,000 is a popular price point for first home buyers with agents noting that properties with a price of $750,000 and below are often quick to sell, even under current market conditions, according to a recent Herron Todd White (HTW) residential report. </p>
<p>The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. </p>
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<p><span>The report notes a good example of the type of property is the sale of a one-bedroom, one-bathroom unit with a one-car garage in Cronulla which sold in mid- June for $645,000. </span></p>
<p><span>The first floor 1980’s unit has </span>been updated internally and is located within 200 metres of the sand.</p>
<p>A typical rent for this type of unit would be around $425 per week, representing around a 3.5 per cent gross return.</p>
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<p><span>"Whilst below the median price for all suburbs in the Sutherland region, you can still pick up a house for around the $700,000 mark, although they are pretty few and far between, meaning you have to make some compromises," the valuation firm said. </span></p>
<p><span><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/2020/7/28/heathcote.jpg" alt=""></span></p>
<p><a href="https://www.realestate.com.au/sold/property-house-nsw-heathcote-133280594" target="_blank"> 11 Rosebery Street in Heathcote</a> (pictured above) sold for $690,000 in mid-April. The property was a single level cottage in need of repairs and renovations on a smaller than average lot of 416 square metres, however the property was well located to the railway station, local shops and local primary school.</p>
<p><span>"With the current possibility of an oversupply of modern units in suburbs such as Caringbah and Miranda, at this price range an older style one- or two-bedroom unit in a smaller development in a desirable location, such as a one-bedroom unit in Cronulla, is likely to be the best performer over the short to medium term for both value growth and rental return," the valuation firm said. </span></p>
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