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When investors become owner-occupiers

For Denzil and Joanne, Esplanade, a mixed-used luxury development in Norwest, was the perfect investment. So perfect they’re now likely to call it home.

The couple live in Bella Vista and currently own several investment properties in Waitara, Parramatta, Stonecutters Ridge and Adelaide. They had been looking for another investment when they discovered Esplanade.

“We had heard whispers that new apartments were coming to Bella Vista. We went to the opening of the display centre and put a deposit on our apartment that same night.”

Denzil and Joanne, who are in their fifties, purchased a two-bedroom plus study apartment. After falling increasingly in love with the development, they’re now considering downsizing from their current five-bedroom family home.

“We are in a massive house in Bella Vista – it’s a five-bedroom home on big lot of land with a swimming pool, which is great when you are swimming in it but not so good when you have to clean it,” says Denzil.

“We love how multi-dimensional Esplanade is ­– there are apartments, businesses and restaurants. It’s located a short stroll from the new train station and buses. The development has it all – it’s very attractive not only as an investment but also as very potential residents.”

Denzil and Joanne will be making the decision to live there during the development’s construction, which is due to start later this year.

“I think it will most likely happen – we will end up calling Esplanade our home. What we’re most excited about is a sense of living in a ‘city’ out in the suburbs. That’s what Esplanade strikes me as.”

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