The strategy was to secure a high-growth property in an area with strong rental demand. Geelong’s booming industry continues to attract jobs, and Grovedale offers a central, suburban location ideal for long-term rental appeal.
When the property hit the market, we immediately contacted the agent, though inspection access was restricted due to the tenant’s health situation. Understanding both the vendor’s need to sell and our client’s need to buy, we focused on a solution that worked for all parties. We submitted an offer at the low end of the range, subject to building and pest, with a longer 14-day inspection period to accommodate the tenant. The offer was accepted, the inspection passed, and the outcome was a genuine win-win — the buyer secured the home, the vendor achieved a smooth sale, and the tenant could remain with minimal disruption as their health improved.
The property delivers a 3.88% yield with potential uplift of $50 per week, as rent had been kept intentionally low to support the tenants. While purchasing sight-unseen can feel daunting, thorough due diligence and a strong building and pest clause ensured the property was sound and protected our client from any major structural risks.
