Stanley homes key test for luxury sector
Three houses in Stanley will be sold next month in a key test of sentiment for the luxury sector.
The houses, measuring 4,000 to 4,500 square feet, are expected to fetch at least $25 million each.
Agent Jones Lang Wootton will handle the tender sale.
The properties are houses B, C and D in Stanley Breeze, No 12 Stanley Beach Road. Completed in March last year, each house has five bedrooms, a swimming pool, terrace and a back yard of about 2,000 square feet.
Houses B and C are tenanted and generate monthly rents of between $142,800 and $160,000 per month.
According to one agent, these two should be able to achieve yields of about 6 per cent. House D is unoccupied.
Agents said it was difficult to gauge market sentiment as there had been so few transactions in the luxury sector recently.
However, they thought each unit would sell for $25 million to $30 million, or slightly higher for the vacant house.