Renovation queen Cherie Barber has again put her money where her mouth is, selling an investment property in Sydney’s west less than a week into its marketing campaign — securing a cool $290,000, before renovation and building costs.
The Renovating For Profit founder, who bought the Colyton property in 2016 for $580,000, flipped it for $870,000. The pretty-as-a-picture three-bedroom single-storey home, built in 1975, now also has a brand new two-bedroom granny flat with a separate entrance.
Listing agent Paul Wallace of Property Central Penrith said the home, complete with white picket fence, timber floors and open plan living areas, attracted buyers because the renovations were “well done” and it “presented perfectly”.
The new owner will keep it as an investment property: the granny flat is already occupied by tenants paying about $400 a week and the main house has the potential to attract $500, making the combined $900 a week a 5.3 per cent yield.
Barber is no stranger to the property game. She recently bought the Lilyfield converted warehouse of comedian Merrick Watts for $6 million. The one-time Oh Boy Candy Company lolly factory was transformed into a modern five-bedroom home with an internal garden and rooftop pool. Before that, Barber had to make room in her property portfolio — selling her Birchgrove investment property for $6.3 million last May. She had bought the Louisa Rd home for $4.05 million in 2014.