How this Sunshine North duplex could earn $1m
The property at 44 Ford Ave offers two self-contained homes on a single title, with 95 per cent of subdivision work already signed off. Only water meter separation remains, paving the way for two individually sellable properties with an estimated combined value of $1.06m.
With $800,000-$880,000 price hopes, the dual-dwelling set up attracted 18 inspection groups, 12 inquiries and six contract requests — but failed to meet reserve under the hammer.
The Agency Victoria's Jim Christou said buyers were circling the opportunity to rent both units or live in one while selling the other.
'You've got two complete homes here, both with their own kitchen, bathroom, and living zones,' Mr Christou said.
'The front is already leased for $450 a week, and the rear was kept vacant for the sale, but it could easily match that.
'That's $900 a week, with the chance to split the titles and bank the equity later.'
Unit 1 features polished timber floors, a full-sized kitchen, and a lounge with split zones for dining and living.
The rear home offers an equally spacious tiled layout, light-filled bedrooms, retro bathroom, and private backyard, ideal for multigenerational living, investors or resale.
'There's real potential for equity growth here — whether you hold both, sell one, or flip them once subdivided,' Mr Christou said.
'And the owner's already done all the hard work. You're stepping in with the finish line in sight.'
Mr Chirstou said Sunshine North's low turnover made comparable sales difficult to find, but also reflected the area's stability and appeal.
'It's a tightly held suburb. Once people move in, they don't leave — even renters,' he said.
'We actually had more traction on this last winter, which is unusual, but I can feel buyer confidence returning.'
The property remains available for private sale.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
an hour ago
- News.com.au
Two winning tickets have shared in the $30m Oz Lotto jackpot on Tuesday night
Life's about to change for at least two lucky Aussies who hold the winning tickets in Tuesday's Oz Lotto's draw, sharing the division one $30m jackpot. The winning tickets are worth $15m each. It is not yet known where the winning tickets were purchased. The winning numbers in Tuesday's draw are: 11, 32, 40, 42, 38, 29, 34 and the supplementaries are 15, 3 and 47. Six tickets across Australia will also share in the division two prize pool worth $448,521. Last month, a Tasmanian man become that state's biggest Lotto winner when he claimed the $70m jackpot. There have been 310 division one winning Lotto tickets across Australia this year taking home almost $1bn in prize money.
SBS Australia
2 hours ago
- SBS Australia
Australia set to seal $10 billion warship deal with Japan with long-term cost unclear
Australia set to seal $10 billion warship deal with Japan with long-term cost unclear Published 5 August 2025, 8:12 am It's been lauded as a significant moment in Australia's relationship with Japan. The government is poised to sign a $10 billion deal with one of the nation's largest shipbuilders, for the design and build of the next generation of Australia's naval frigates. It came following an intense bidding process, but the long term cost to taxpayers is not yet clear.
The Australian
3 hours ago
- The Australian
TPG Telecom reveals $4.7bn plan to slash debt, free up share registry
The Australian Business Network The bulk of the mobile operator came about following a truce between bitter telco rivals based in London and Hong Kong. Then five years ago, Vodafone Australia combined with broadband upstart TPG, itself a product of a string of telco buyouts, including iiNet and AAPT. Even that $10bn mash-up between Vodafone Australia and TPG almost didn't go ahead when the competition regulator attempted to thwart the deal. Along the way, there have been efforts by TPG to hook up with big rival Telstra to secure better coverage in the bush, but this eventually switched to Optus. It's been a wild ride for the little telco now called TPG Telecom. Flush with cash, chief executive Iñaki Berroeta reckons his telco has the best shot yet of becoming more than the third force. After coming off a massive 5G investment cycle, Berroeta doesn't need to spend more building out TPG's network. This time, it's about getting the back end of his business in shape, including slashing debt. Berroeta spelt out his plans for the $4.7bn windfall from last year's sale of its fibre network to Macquarie-backed Vocus. Berroeta says there were three aims from this: return funds to shareholders, slash debt and free-up the register. This will create what TPG has always craved, a simpler, leaner telco. As expected, $3bn of the funds will go back to shareholders, but under a simultaneous 'de facto' $688m capital raising, this also frees up billions to pay down debt. It's not all that simple. In an elegant solution thrashed out by TPG's bankers, Bank of America, a capital return has been structured as a share reduction, but minority shareholders can elect to take their returns in either cash or new TPG shares. This 'reinvestment' is the trigger which raises the additional funds to slash its debt pile almost in half. It is designed as a way to loosen up a tight — but friendly — shareholder grip on the registry. 'Shareholder curse' TPG has suffered from the shareholder 'curse' where several big investors crowd the share registry. In this case, the holdings are split between Hong Kong's Hutchinson, London's Vodafone, TPG founder David Teoh and long-time TPG/Teoh-backer Soul Patts. Combined, they have 77 per cent. The low liquidity has turned off some investors. All the big shareholders support the plan to take this stake proportionally down to 70 per cent, without triggering massive tax liabilities which would have otherwise come from a share sale. The exercise will be closely watched as one of Australia's most ambitious efforts yet in trying to free up the share registry while keeping big shareholders happy. It can only happen where everyone is on the same page and agrees to sit out of the reinvestment. The next step, the debt reduction, is just as critical. Wiping as much as $2.4bn from debt is set to deliver TPG a long-sought after investment grade credit rating (S&P issued a BBB rating on Tuesday). At the same time, lower debt repayments will free up substantial spare cash for future capex while underpinning dividends. There's also another $100m of costs to come out of TPG's business in coming years, adding to the free cash it generates. Given the ongoing demands of heavy spending and saturation of the market, telcos are no longer the growth animals they once promised. Now, the name of the game is keeping costs and debt down to generate as much cash as possible to return to investors. Even with 5.5 million mobile customers, Berroeta reckons TPG can do both — grow and return cash to investors. 'It's not that we choose between one or the other,' Berroeta says about growth versus income. 'We are a good income company, at the same time growing higher than the industry. 'That is a spot where we want to be'. He is anticipating a market share boost coming with its entry into regional Australia through last year's landmark network sharing deal with Optus. This will see it compete not only against Optus in the regions, but also Telstra. Although 5G is behind it, the next big investment phase is still coming over the horizon — the move to 6G services, which should start from the end of the decade. The demands won't be anywhere on the scale of the billions spent by the industry, however, in the switch from 4G to 5G and further upgrades. The 6G network will mostly be on software spending, which can leverage existing and mobile wireless equipment. With lower demands for capex spending, this means the telco race won't be won purely who has the bigger balance sheet. It will be built around who has the best offer for Australian consumers. johnstone@ Eric Johnston Associate Editor Eric Johnston is an associate editor of The Australian. He has more than 25 years experience as a finance journalist, including a former business editor of The Australian. He has been business editor of The Sydney Morning Herald and The Age and financial services editor with The Australian Financial Review. His work has also appeared in The Wall Street Journal.
