boarding house near IP - good or bad

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...

 

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

 

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

 

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

 

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..

 

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!

 

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

Cheers

Jamie

 

Oh, I didn't see your post.. Two buildings away?

 

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