The four townhouses from the hit Channel Nine show ‘The Block Triple Threat’ could each become lucrative purchases for property investors when they go to auction on Tuesday the 28th of April 2015.
An independent depreciation assessment of the completed properties by the BMT team has identified significant deductions for any property investor considering purchasing one of the four townhouses.
The original twelve units located on the Darling Street, South Yarra site were reported to have been purchased for $5.7 million. Since then, they have undergone extensive renovations by the contestants, who have converted the units into four triple-story townhouses.
If an investor was to purchase one of the properties, which are tipped to sell for around $1.4 million, they are an underlying goldmine. An investor purchaser could claim a minimum of $39,986 and a maximum of $54,163 as an average first year depreciation deduction for one of the four properties, The townhouses will obtain the maximum depreciation potential for investors within the first five years of ownership.
Of the four couples, Tim and Anastasia’s townhouse is most likely to impress buyers looking at the property for investment purposes, with depreciation estimates suggesting their property would result in the highest depreciation deductions in the first financial year as well as over the life of the property.
This was followed closely by Dee and Darren with the next highest depreciation estimate which could be claimed by potential investors. Below is a summary of the depreciation estimates our BMT team found for all of the four properties.
We prepare tens of thousands of property depreciation schedules each year through twelve office locations around Australia and are specialist Quantity Surveyors. Quantity Surveyors are one of the few professionals recognised by the Australian Taxation Office to have the appropriate costing skills required to estimate building costs for depreciation.
Legislation allows the owners of any income producing property to claim depreciation deductions for the wear and tear of the building structure and the assets contained within. Yet our research shows that 80 per cent of property investors fail to take full advantage of property depreciation.
Investors who don’t claim depreciation are missing out on thousands of dollars in their pockets,
The finale of ‘The Block Triple Threat’ featuring the results of the auctions will air on Channel Nine on Wednesday the 29th of April.
For further information, you can contact us on 1300 728 726.