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Beenleigh post town centre development

Discussion in 'Where to Buy' started by jayrees, 1st Dec, 2015.

  1. jayrees

    jayrees New Member

    Joined:
    29th Nov, 2015
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    Location:
    Gold Coast
    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.
     
  2. Michael_X

    Michael_X Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    295
    Location:
    Gold Coast/Sydney
    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
     
  3. jayrees

    jayrees New Member

    Joined:
    29th Nov, 2015
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    2
    Location:
    Gold Coast
    Thanks for your input Michael
     
  4. seanbrissy

    seanbrissy Well-Known Member

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    2nd Nov, 2015
    Posts:
    77
    Location:
    Brisbane
    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
     
  5. RetireRich101

    RetireRich101 Well-Known Member

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    18th Jun, 2015
    Posts:
    1,293
    Location:
    Sydney
    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
     
  6. Richard Williams

    Richard Williams Buyers Agent - Southeast QLD Business Member

    Joined:
    9th Aug, 2015
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    Location:
    Loganholme, Brisbane
    What was the zoning for that one, how many dwelling/ha and what is the height limit?
     
  7. RetireRich101

    RetireRich101 Well-Known Member

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    18th Jun, 2015
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    1,293
    Location:
    Sydney
    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