A LOCATION STEEPED IN HISTORY
Once home to off-duty trams 82 Johns Road or the ‘Old Tram Barn’ is a historical site in the Prospect area. Now the under-utilised land sitting behind the historical building has an opportunity to make a lasting contribution to the community.
Building design, landscaping and interiors combine to create a collection of residences for those wishing to join this desirable inner-city neighbourhood.Download the Storybook
A WISE INVESTMENT
Prospect, located 5km from the CBD, is a thriving inner northern suburb that continues to grow in population. Current growth sits at 2.2% a year. Of that population 33% is renting, with median rents and yields increasing steadily over the last 12 months. Units in particular have a current medium rent of $320 and gross rental yield of 4.55%.
Prospect’s main population demographic is aged 20-29, and households predominantly contain couples with children. Good school catchment areas, access to services, parks and recreation indicate that Prospect will continue to be an attractive location for young families.Download Investor Pack
WHAT DOES BUYING OFF THE PLAN MEAN?
Buying off the plan is the literal term for purchasing property that has not yet been built. You are making the decision to purchase an apartment, townhouse or house based on the documentation available before construction begins.
WHAT ARE THE BENEFITS OF BUYING OFF THE PLAN?
Alternative deposits – lower cash deposits, bank guarantees or deposit bond. Maximise tax advantages. Stamp duty concessions. Customised design possibilities. Longer settlement allowing for potential capital growth. Time to save more cash during settlement period. Opportunity to move into a brand-new property.
CAN I MOVE IN BEFORE SETTLEMENT?
HOW DO I MINIMISE THE RISK OF BUYING OFF THE PLAN?
Without giving financial advice, buying in good locations, looking at the detail in the selection and schedules, look at the builder and the developer’s past projects and completed builds with the ability to deliver.
WHAT GRANTS AM I ELIGIBLE FOR?
Please head to www.revenuesa.sa.gov.au/grants-and-concessions to find out what grants and concessions you may be eligible for.
WHAT IS A SUNSET CLAUSE?
The sunset clause refers to the maximum amount of time that the developer has to complete the build. If the project Is not complete by the sunset clause either the purchaser, or the developer has the right to withdraw from the contract.
WHY CAN’T I MOVE IN THE DAY OF SETTLEMENT?
When there are multiple purchasers in the same apartment or townhouse project, the removalist is booked in over several times – morning and afternoon and in large buildings over several days. Not everyone can use the lift and stairs at the same time. We ask that you are patient when this happens but know you will be eager to move in as soon as it is completed.
CAN THINGS BE CHANGED WITHOUT MY PERMISSION
You will always be advised of any major changes. In terms of products and selections, sometimes specific products aren’t available and will need to be replaced with a like replacement, this will be communicated though.
CAN I CANCEL THE CONTRACT?
Once you have received your executed documents you will have 2 clear business days cooling off. After that time you are bound by the contract.
WHAT IS INCLUDED/EXCLUDED?
All inclusions and exclusions will be outlined in your contract
CAN VARIATIONS BE MADE AFTER THE CONTRACT IS SIGNED?
Variations such as moving walls won’t be allowed due to structural loads. Selections will be picked out after cooling off and only once they are finalised can no more changes be made.
WHAT IF MY CIRCUMSTANCES CHANGE?
Unfortunately, this does not change anything as you are bound by an unconditional contract.
Citify is proud to be bringing you 82 Johns Road – a collection of contemporary residences for Prospect. We are committed to creating a legacy though value and design-driven property developments. Designing and constructing successful multi-residential projects begins with a passionate vision, an extreme attention to detail and a laser focus on execution and delivery. At Citify we look at each project’s individuality, its history, locality and context to provide a bespoke project.
Bert Farina Constructions have been operating in the SA building industry since 1967. A family owned and operated building company, BFC employ their own carpentry and earthworks teams to improve quality and achieve outcomes faster. With a passion for building excelling and pursuit of innovations you can be sure BFC will deliver homes of quality at 82 Johns Road.