Parramatta Eel and Blues Origin enforcer Junior Paulo has secured two investment apartments in Coronation Property’s Liverpool project, The Foundry, over the summer.
The 29-year old New Zealand-born prop paid $634,000 for a two-bedroom, two-bathroom apartment in the complex. The 100sq m apartment comes with a study.
He also spent $479,000 on a one-bedroom, one-bathroom apartment.
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Both apartments were immediately put up for rental in Sydney’s tight rental market with $450 per week being sought for the eighth floor apartment, reflecting a 4.89 per cent gross rental yield for Paulo. The 15th-floor two-bedroom apartment had a $530-a-week asking rent, reflecting a 4.35 per cent yield.
Paulo built his family home in Horningsea Park in 2018, while playing in Canberra for the Raiders, after the 420sq m block cost $450,000 in 2015.
The Foundry is a contemporary apartment tower with a rooftop pool amid Jamie Durie gardens overlooking the Georges River.
The 16-storey tower forms part of Coronation Property’s The Paper Mill precinct.
On the 2018 marketing launch of the riverside Foundry complex, Coronation’s pricing for one-bedroom units ranged from $495,000 to $606,000, its two-bedders were $590,000 to $715,000, and the three-bedroom units were priced between $796,000 and $799,000.
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Liverpool’s median apartment price is $473,000 with a $385-per-week rental median with a 4.6 per cent rental yield, according to realestate.com.au.
Rents are up 6.9 per cent over the past 12 months based on some 1800 leases.
Based on five years of sales, Liverpool has seen a compound price growth rate of 5.1 per cent for units.
Originally published as NRL superman Junior Paulo’s savvy big money moves into real estate
