QLD Deception bay

Did you buy this land, hope you are not, most of the land is in flood region or no desirable for construction.

I actually admired this sale in last December, then pushed my self hard to get one old Reno potential house near Petrie. It gave me good paper return after Reno.

 

It’s about the back 1/4

I am confident we can do something with it
Keep
You posted

 

Mate, Are you the one who bought this one? Sounds like a solid plan. Check with neighboring developed area, I believe it was similar before they develop then flood line get pushed away.

Give some update how you go. BTW, I regretted not buying this as it was advertised 1.3mn a year ago. You have done really well. Hope you have enough money in your pocket to pump. Let me know if you need any help with structural stuffs.

 

I read a great article that there is 5 ways to make money in real estate
- zoning change
- infrastructure development
- population growth
- general inflation
- boom bust cycle

The real money is made in the first 3 stages. Picking an area and land banking before the zoning, infra and population arrives.

These sort of deals suit me if one has the holding ability.

 

Anyone looked at 91, 93 Windsor place, DBay?

 

Just curious, what are the vacancy rates lately in deception bay??

 

Pretty low vacancies <2%

 

Awesome, looks promising.

Any thoughts on this? Could add value with another room and is in a great location.

5 Sampson Street Deception Bay Qld 4508 5 Sampson Street, Deception Bay, Qld 4508

 

From what I see, 2007 - Sold $286,000.. I don't think much will happen in the next cycle for Deception Bay. It needs more gentrification. Depends on your strategy, some are seeing it a s a long term hold.

 

I personally think focus on the band within 500m (nominally a 5 minute walk) of the foreshore.

Naturally the closer to the water the better, theory being that the waterfront zone attracts gentrification over time.

This stretch of Deception Bay is only 5% to 10% of the overall area of the suburb but I think it is an area where capital growth will concentrate because of the waterfront. But you need to be patient.

I've measured the rough 500m distance band and shown it with some rectangles below.



Now the area between Bayview Terrace and Maine Terrace has been rezoned Urban Neighbourhood. This area has been historically low socio-economic but more owner-occupiers are moving in and the place is starting to gentrify ...

Examples of properties being improved:

• https://www.realestate.com.au/property/16-balmoral-pl-deception-bay-qld-4508
  
• Sold 15 Osborne Terrace, Deception Bay QLD 4508 on 16 Nov 2018 - 2014442773 | Domain
  
• Sold in DECEPTION BAY QLD 4508 on 20 Sep 2011 - 2009162391 | Domain
  
• Sold 3 Port Street, Deception Bay QLD 4508 on 07 Feb 2019 - 2014880375 | Domain
  
• Sold 10 Beaufort Place, Deception Bay QLD 4508 on 22 Dec 2017 - 2013983560 | Domain
  
• Sold 35 Summer Street, Deception Bay QLD 4508 on 20 May 2017 - 2013584863 | Domain

So a bit of a myth that all of this area is low socio-economic.

Over time the rezoning will encourage urban renewal as the sites suits apartments and Townhouses. So I think anywhere within 200m of the waterfront in this zone should do well for capital growth once gentrification occurs ( as these are the sites developers will focus on ... and they may look to consolidate sites ).

The reason for 200m ... there is a chance that if these sites are developed they may be able to take advantage of the water views. The "Urban Neighbourhood" zoning in Deception Bay allows higher structures (up to 21m), e.g. 3-storey townhouses.

I have posted some detail on it in this thread.

Deception Bay Gentrification / Development Thread

In this zoning:

• The 600 sqm sites are the preferred.
• Or corner sites as dual-street provides more flexibility for parking arrangements
• The 400 sqm sites are challenging as they only have a 10m frontage (so these need to be consolidated, unless they are a corner site that provides better flexibility for parking ).

Within 200m of the water there is a good change of water views from a front-facing balcony ( or alternatively from a rooftop terrace ).

 

Yes, But land size distracted me. Not a great buy in my view though.

 

Hayes, It gives me an impression like cottage. Adding room requires structural addition, not just partition within usable area, therefore I dont think good strategy. Also rent wise, in the present form, 310-320 pw is achievable target so the sale price is not attractive.

 

The main potential for 89, 91 and 93 Windsor Place is the three of them being combined as a development site. The zoning allows unit-blocks up to 21m high and also townhouses ... do you know anyone else intending to buy an investment property ...?

Two could be combined for an 800sqm site.
Three could be combined for a 1200sqm site.

In the future you could pay for a DA and sell with plans. In the meantime you just hold and rent out. Wait for values in the area to improve.

89 Windsor Place, Deception Bay, Qld 4508
91 Windsor Place, Deception Bay, Qld 4508
93 Windsor Place, Deception Bay, Qld 4508

 

Good pick. I didn't realise those three are sitting next to each other- it looks same agent selling them. With the potential unit development, someone need to buy all three, otherwise it is not helpful.

Have you done any nos? Do you think the combined three lands can be sold over 900k to make any profit in the current mkt. The street appeal is just average, not too sure for demand for unit though.I see future potential as bonus, but nos need to work in the present market.

 

I'm not sure that in the current market you would sell them undeveloped for much of a profit ( otherwise the agent would have already sold them ).

It's basically a land-banking opportunity for two or three of the sites. In the meantime you rent them out. Then later after market shows signs of strength you can pay for plans for a DA and get council approval. Then potentially sell for a profit or develop yourself.

It's the builders that have the advantage as they are paying wholesale rates for all the building work. It is easier for them to make the numbers stack up.

 

From memory 89 was sold to an owner occ. 93 went to an investor. So I think 91 is the only one available.

 

So the opportunity there I guess is to buy 91 and team up with the owner of 93 down the track ... but wait 5 to 10 years for another cycle to play out.

This site at Lawnton gives some perspective of what could be done on 600sqm to 800sqm. From memory ... 21m is the height limit (same as Deception Bay).

12 units below so I guess 16 units on 800 sqm. Some of them would get water views. Alternatively could do townhouses but they must be a minimum of 5 metres high.

2 Gardiner Street at Lawnton.

• Urban Neighbourhood Zoning (up to 21m height)
• 598sqm
• 12 Units, 12 parking spaces.

 

We also have 46 windsor rd for a fairly decent price.

46 Windsor Place, Deception Bay, Qld 4508

Why are so many people on windsor selling?

 

Just sold for $325k.

I think agents have been quite active to find properties to list due to investor demand.

46 Windsor Place sold for $285k in 2008

https://www.onthehouse.com.au/prope.../46-windsor-pl-deception-bay-qld-4508-2802194

2015 was a dip in the market?

• $260k,143 Maine Terrace, Deception Bay, Sold 143 Maine Terrace, Deception Bay QLD 4508 on 21 Oct 2015 - 2012234116 | Domain
• $240k, 147 Maine Terrace, Deception Bay, Sold 147 Maine Terrace, Deception Bay QLD 4508 on 04 Jun 2015 - 2011840757 | Domain

2009

• $320k, Water Views
  6 Balmoral Place, Deception Bay, Sold 6 Balmoral Place, Deception Bay QLD 4508 on 15 Sep 2009 - 2007965311 | Domain
  
  ( although Water Views a factor in that sale )

 

How about this one! (Btw not really buying or vested interest in this particular place, just curiously look at properties sold/buy every now and then)

12 Wallin Avenue, Deception Bay, Qld 4508 12 Wallin Avenue, Deception Bay, Qld 4508