VIC Armstrong: Invest in properties with access to Club Armstrong?

Discussion in 'Where to Buy' started by Nesta, 28th Mar, 2021.

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  1. Nesta

    Nesta Active Member

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    30th Jan, 2017
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    Melbourne
    I’ve been following up on Mount Dueed and Armstrong Creek areas for investment properties, and I wonder if it is worth buying land/properties in Villawood with access to Club Armstrong, at a premium? Land in Villawood with access to Club Armstrong is $15,000 more expensive than those without in the same estate.

    Apparently Club Armstrong membership will cost around $950-$1000 per year in addition to the regular council rates.

    Is Club Armstrong membership a double edged sword for investment properties?

    Would it really appeal to the owner occupiers in the future? Or would it actually put people off buying the property due to a premium in the property price, as well as the $1000 extra cost for the annual membership?
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    What is it offering you as a benefit for paying them an extra $15k+?
     
  3. Nesta

    Nesta Active Member

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    Location:
    Melbourne
    Half of the blocks in the Armstrong estate (Villawood) of Mount Duneed have access to the Club Armstrong which has pools, tennis courts, gyms etc.

    However, those blocks are $15k more expensive to purchase than other blocks, and there’s an ongoing cost of $1000 per year for the club membership to cover the running cost of the Club. My first thought was it isn’t sensible but still wanted to get people’s views on this.
     
    Last edited: 28th Mar, 2021
  4. MikeyBallarat

    MikeyBallarat Well-Known Member

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    I'm not sure how they sell owner occupiers on these blocks. $15k + $1000 per year buys you a lot of time at the leisure centre.
     
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