VIC Compare the Pair: Property A Preston or Property B Thomastown

Discussion in 'Where to Buy' started by Carmel A, 9th Feb, 2022.

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Which land would you want?

  1. Property A: Preston

    4 vote(s)
    50.0%
  2. Property B: Thomastown

    4 vote(s)
    50.0%
  1. Carmel A

    Carmel A New Member

    Joined:
    9th Feb, 2022
    Posts:
    4
    Location:
    Preston, VIC 3072
    New here. I'll have a think about an introduction and add one soon. But let's start straight in the deep end:

    You have a choice. Two properties of equal cost, today.

    Property A: Preston, 560sqm, GRZ2. 100m from High St. 300m from Preston station. ROW at the back plus 2 roads (corner block)

    Property B: Thomastown, 880sqm. RGZ. 200m from Thomastown station. On 2 roads (corner block).

    Hold for 5 years.

    Which one would you go for?
     
  2. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    13,436
    Location:
    Melbourne
    T-town.

    Is big.
    Is corner.

    The Y-man
     
    Carmel A likes this.
  3. Tattler

    Tattler Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,065
    Location:
    Sydney
    Are you actually planning to subdivide and redevelop it? If not I would take Preston.
     
  4. Carmel A

    Carmel A New Member

    Joined:
    9th Feb, 2022
    Posts:
    4
    Location:
    Preston, VIC 3072
    After holding 5 years, either take $ to use elsewhere, or develop. More likely to sell than develop. In particular the Thomastown property as it is a larger sqm and RGZ so the potential development there could be quite substantial and outside my comfort zone or abilities. My question assumes sale after 5 years.
     
  5. HonestShiba

    HonestShiba Well-Known Member

    Joined:
    17th May, 2020
    Posts:
    666
    Location:
    VIC
    Both too close to station no?
     
  6. Silverson

    Silverson Well-Known Member

    Joined:
    11th Jun, 2016
    Posts:
    1,149
    Location:
    Melbourne
    Preston
     
  7. Carmel A

    Carmel A New Member

    Joined:
    9th Feb, 2022
    Posts:
    4
    Location:
    Preston, VIC 3072
    Thanks. Why Preston? More gains you think than the GRZ status of Thomastown property?
     
  8. Silverson

    Silverson Well-Known Member

    Joined:
    11th Jun, 2016
    Posts:
    1,149
    Location:
    Melbourne
    Better suburb, better activity center, more choice from a development point of view in regards to product, if the market for smaller townhomes (investor and fhb) craps itself, you can build two side by side homes and sell for mid-high ones (today). I’m not sure the final value is there in Thomastown for a product other than multi unit. Also lots of supply for this product.
    Alternatively you could just build a ripper family home in Preston, especially if it’s a period home with modern extension
    My opinion only!
     
    Carmel A likes this.