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boarding house near IP - good or bad

Discussion in 'General Property Chat' started by S0805, 19th May, 2016.

  1. S0805

    S0805 Well-Known Member

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    doing some DD on suburb and found out that there is proposed 10 storey boarding house coming nearby which will have 30+ bedrooms and on-site manager. My understanding is boarding house is for students or like. Or is it for Public housing or backpacker's or something....

    most of the buildings surrounding this one is 3 storey old style 2 bedrooms apartments...

    Not sure if this is good or bad thing

    any suggestions pls...
     
  2. headsonbeds

    headsonbeds Well-Known Member

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    10 storeys that's huge. Could be students, social housing, rehab. You'd need to find out more. There is a 4 storey one in Brisbane and it has over 100 rooms
     
  3. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    That does sound quite big.

    Do you have a particular IP in mind? If so - how far away is the development from the IP you're looking to purchase?

    Cheers

    Jamie
     
  4. S0805

    S0805 Well-Known Member

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    it says it will have 32 bedrooms, communal living room and on site manager.
     
  5. S0805

    S0805 Well-Known Member

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    Its the second building away from proposed development. I guess I'll have to call council to find out what sort of boarding house proposed..
     
  6. Lil Skater

    Lil Skater Well-Known Member Business Member

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    Unless it's on the same street/backing it, it's probably okay. But you'd want to find out the exact use. It seems very big!
     
  7. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Ok - that's close! Good thing you're doing your DD.

    Cheers

    Jamie
     
  8. Lil Skater

    Lil Skater Well-Known Member Business Member

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    Oh, I didn't see your post.. Two buildings away? :eek:
     
  9. Tony Fleming

    Tony Fleming Well-Known Member Business Member

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    University close by? Development application on price finder came up in a suburb I invest in. It was for international students studying at the local university. They prepay for rooms and internet etc