Beenleigh post town centre development

Hi everyone. We are new to propertychat and new to the investment property game. We are looking at a brand new unit in Beenleigh CBD. Any thoughts out there as to what impact the new town centre development may have on property prices - minimal or significant change? Thanks for any feedback.

 

Hi Jayrees,

Have a look at your target demographic in Beenleigh and see if it matches units. I know there have been quite a few zoning changes and suspect there will be more units going up in Beenleigh so supply wise there will be more coming onto the market.

I personally would steer away from new units in Beenleigh, don't think the demand and supply is quite there. Suggest looking at houses, I feel you will have more success with this.

Cheers,
Michael

 

Thanks for your input Michael

 

Hi Jarees,

What price is the unit and what rental is it achieving?

New town center development guidelines will have a positive impact on existing land which falls withing the new code, not necessarily new stock built within it.

cheers

 

There were few 600m2+ fibro house in the Beenleigh town centre that was zoned apartment/townhouse precinct. In the low 300k, that could rented for $300/wk. I thought they could be a good potential buy and hold at 5% for dev lot...

some Agent still unaware of the Logan zoning change that got adapted in May this year

For example, this property got sold under the hammer 300k for $320/wk rent.
It is a in Apartment zoning but Agent make no mention of it..

Sold Price for 10 Killinure Street Beenleigh Qld 4207

 

What was the zoning for that one, how many dwelling/ha and what is the height limit?

 

Apartment zoning, from memory it was about 70 dwelling/hectare. Townhouse precinct allows 40. Regular suburban is 20, corner is 28.5. So pretty good bang for your buck, even if you don't develop it