602/12 Bishopsgate Street, Wickham NSW 2293

North facing 6th floor | Water views to Nobbs Beach | Tightly held Bishopsgate building | 51m² with garage and rooftop The unit’s north aspect and elevated position on the sixth floor deliver natural light and protected water views that are rare in this size bracket. The 51m² internal footprint with a full-length covered balcony and single lock-up garage with storage makes it a genuinely livable one-bedroom. The communal rooftop adds amenity without cost. This suits an owner-occupier wanting a light-filled base near the water, or an investor targeting a yield above 5% in a suburb where 65% of properties are owner-occupied, indicating stable demand. The garage and internal laundry remove common friction for tenants. The flood overlay is the primary risk and should be priced into any offer, though the building sits on the 6th floor so physical damage risk is low but insurance premiums may be higher. Tightly held means fewer comparable sales, so valuation at $703k may be optimistic if the market softens. The opportunity lies in the rental history: $550/week furnished in 2021 and now $700/week unfurnished suggests strong rental growth. Hold for cash flow, not short-term capital gain, and use the flood overlay to negotiate below estimate.