QLD Gold Coast Flats?? (< 12 Units/Block)

Hello,

What are some opinions and experiences with Gold Coast flats (encompassing the whole Gold Coast Region)

The specific type of flat i would look at is as follows;

• Walking distance to the water/broadwater
• Large land component
• Block with low # of total units (< 12-18)
• No pool, spa, gym, lift (lower body corporate)
• < 1990s
  
• < $300k
• > 5.5% gross yields

There is a tonne of supply of super-high-rise so the supply/demand equation doesn't seem to make sense, however interested in what people opinions with growth/demand prospects for this type of property?

Regards,
Q

 

If you are after a gold coast apartment investment then yes I think you've got the right criteria there. Older style low rise low makntainence with decent yield is definitely the way to go.

I would add to the list to look for something with obvious long term land development potential. Personally I think the best areas to buy would be in Surfers Paradise, Broadbeach, and Mermaid Beach. Rental market is pretty hot right now and ideally you will get an awesome capital gain sometime in the future due to the underlying land value and a redevelopment buyout.

Very good time to buy now in my opinion.

 

A lot of people are missing labrador I notice. The type of properties you are looking for can be grabbed in labrador at a good yield. There are some good duplex opportunities too

 

Yep - duplexes in general a also very well worth buying and should be considered by the OP.

I love duplexes as you get a high yield and total ownership of the underlying land.

 

• Walking distance to the water/broadwater
• Large land component
• Block with low # of total units (< 12-18)
• No pool, spa, gym, lift (lower body corporate)
• < 1990s
  
• < $300k
• > 5.5% gross yields

Totally great time to buy those walk up unit blocks .
I picked up a single unit in a walk up -70metres to the beach at surfers CBD.
The chinese are sniffing around so looks like we may sell the block as a whole down the track.
Just over the road they are building a billion plus$ building soon so plenty of money around.

Just stay away from high rise unless its beach front and is way under build cost-There are these available at the moment still! Good to buy now and sell about 3 months to the com games.

 

Yeah i'm in two minds whether to buy house and large land component outskirts of Brissy (ie. Ipswich surrounds) or GC walk up unit, net yields on both are about the same. I just got indicative approval for $700k so may do both ;-)

 

I guess what i am concerned about is how the supply side of the equation (ie. super high rise) is going to impact the demand for this. But if I drill into it, you will have people that won't be be able to afford the rent in a sparkling new apartment but could certainly afford the <$300/week 2br walk up.

 

Labrador was exactly the location that i was looking into. The ugly duckling suburb squeezed between two bling suburbs

 

You should be able to do both for that budget

 

Hi qonyx,
beach units are undervalued atm imho but;
I would say if its your only property or one of a few, i would lean more to the higher land content (brissy and outer)for better growth in long term investing

 

Check this out:

www.goldcoastbulletin.com.au/realestate/residents-and-development-breathe-new-life-into-coastal-suburb/news-story/aa76cab2de30b34cc10b1fef5a02b7fd