Client: Ting He
Property Address: 7 Carinya Street, Blacktown
Property Type: R4 High-Density Development Site
Purpose: Apartment block development within 800m of major train station
Purchase Price: $2,020,000
Background
Ting He is a valued long-term client of TBAS®, with whom we have successfully acquired multiple properties over the past five years. Initially, Ting’s brief focused on securing a duplex development site in Western Sydney. However, following an increase in budget and significant changes in the NSW state government’s housing reforms—particularly the rezoning of land within 800 meters of major train stations—the scope shifted towards acquiring an R4 zoned site suitable for high-density apartment development.
The Challenge
Finding suitable high-density development sites in Sydney, particularly around the $2 million mark, proved challenging due to a chronic shortage of available properties meeting these criteria. The search spanned approximately four months, demanding extensive market research and proactive engagement with industry contacts to identify potential opportunities.
Strategic Approach
Leveraging TBAS®’ extensive market insight, our team conducted comprehensive analysis to accurately assess the value and development potential of available properties. This meticulous research provided critical data that enabled precise valuation and bidding strategies.
The Opportunity
After months of searching, 7 Carinya Street, Blacktown emerged as an ideal candidate. Positioned strategically within the rezoned area—less than 800 meters from a major train station—the property was primed for high-density residential development, aligning perfectly with Ting’s revised investment objectives.
Due to its attractive price guide of $1.4 million, the auction attracted significant interest, resulting in 11 registered bidders. Despite fierce competition, our detailed pre-auction research provided a clear and confident bidding strategy.
The Outcome
Through strategic bidding, informed by our in-depth valuation insights, TBAS® successfully acquired the property at auction for $2,020,000—a price reflective of its true value and potential, and 44% above the initial agent’s guide. This acquisition underscores TBAS®’ expertise and commitment to securing high-quality properties that meet our clients’ evolving investment goals.
Conclusion
This successful purchase exemplifies the value of partnering with a specialist buyers agent such as TBAS®, whose knowledge and market expertise enable clients like Ting He to secure outstanding development opportunities amidst intense competition.
To discuss your property investment or development ambitions, contact TBAS® today and let our expert team guide your next successful purchase.
