Denman delights

30 April, 2024

A regional investment opportunity in the Upper Hunter Valley, NSW

First National Real Estate Edward Higgens Parkinson (EHP) is offering the entire block of 18 units in the delightful Upper Hunter village of Denman.

Priced at $4.75 million, the units provide an excellent regional investment opportunity. EHP’s Luke McTaggart says the single-level strata-title complex contains a mix of 1, 2, and 3-bedroom villas that represent a stable source of income.

Investors should take note of Denman’s position on the first outer ring of the Sydney-Newcastle metroplex or “urban jungle”. The town is located on the accessible Golden Highway in the picturesque Upper Hunter – a scenic two-hour-40-minute drive from Sydney or a one-hour-40-minute trip from Newcastle.

The offering is 2 x 3-bedroom, 14 x 2-bedroom, and 2 x 1-bedroom villas, most with carports. Mr McTaggart says the consistently low vacancy rates are thanks to a diverse mix of strong employment in the area. This vibrant region boasts a robust demand for accommodation as a result of horse studs, agriculture, defence, mining, power generation, and reliable retirees.

“They are a solid investment for the owner,” Mr McTaggart says. “They have very high occupation rates with long-established tenants who are reliable.”

Denman is a small country town with a big name in fine wine, good food, and heritage charm. It is considered a gem of the beautiful Upper Hunter with its rolling vineyards and cellar doors, champion horse studs (“Hello, Winx”), and magnificent national parks.

Present-day Denman was gazetted in 1853 and named after Lord Denman who then became the governor-general of Australia. A quaint heritage walk through Denman includes the St Matthius Church, which conducted its first service in 1874. Wollemi and Goulburn River national parks are easily accessible.

The husband-and-wife vendors appreciate that Denman offers a country life without the hustle and bustle of the city.

“It has good access and an enviable pace,” they say.

“We like the cafes, but it definitely retains its ‘no-rush’

feel. It has great facilities, including a little hospital, but in any case, it is within easy distance of Singleton and Newcastle.”

The vendors also believe Denman is becoming a hub for “smart tourists” – the travellers who don’t want to participate in the full caravan park parade and take the well-worn paths to well-known attractions.

“It’s certainly much more friendly and relaxed than some of the heavy tourist spots,” the vendors say.

“The other two-way winner for us as owners is the variety of the locals. They make for an interesting township, but also make for a variety of tenants. We sailed through Covid with no vacancies, because of the eclectic mix of tenants.”

Why sell such a lucrative and guaranteed investment?

“We’re relocating to far north Queensland, which would make us remote landlords in the extreme,” the vendors say. “We’ll be 2500 kilometres away. That is a long haul.”

Mr McTaggart believes immigration numbers and Sydney’s ongoing rental crisis can only result in an increased population in regional NSW.

“If you’re seeking a stable source of income and looking to move away from the unpredictable fluctuations of the stock market, this property presents an ideal choice,” he says.

The vendors believe the complex would suit a family group.

“They could divide the units among various members’ super funds and create the opportunity to put a unit in a child or grandchild’s name to give them a great start in life,” they say. “This would leave control of the whole strata vested in the family.”

Contact Luke McTaggart on 0408 680 536 or at First National Edward Higgens Parkinson for further information and/or an inspection.