NSW GOSFORD - the investment thesis

Discussion in 'Where to Buy' started by Andrewjh, 3rd Oct, 2019.

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  1. Andrewjh

    Andrewjh Member

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    If the cranes are anything to go by, the long awaited (and it has been a LOOOOONG time coming) boom might have started to hit Gosford.
    Earlier this year there were 11 or so. A different set of 7 cranes currently going.

    This facebook group has tracked another 22 developments.
    Development on the Central Coast

    There's been a noticeable gentrification in the types of cafes, restaurants and bars: Bon Pavillion (upmarket restaurant), South End Social (upmarket cafe), Bay Rd Brewery, The Good Bits (another trendy cafe), as well as Reviver Cocktail Bar.

    Up until recently 'Gosford' gets sneers from other Central Coast residents as a more yucky place than its neighbouring suburb East Gosford and the surrounding beach suburbs. But that's starting to change and more and more people are starting to drive into Gosford for things, rather than out of.

    What do you guys think of this investment thesis - is Gosford about to boom?
    1. Close to Sydney for commuters - the whole suburb is a 5-10 minute walk from the train station then 80 minute train to Central.

    2. Downsizers from Sydney wanting a lifestyle shift, selling up their $$$ properties to clear the remaining mortgage, finding they get a lot for their money 1 hour north without being too far from their old friends.

    3. Only 20 minutes from several nice beaches, attractive lifestyle.

    4. Lots of government spend. e.g. the waterfront area is about to get a $52 million dollar new park that is supposedly the best in the state - NSW gov’t releases plans for new waterfront public space in Gosford
    There are plans to re-do the conservatorium, the library,

    5. Lots of private spend - e.g. the Lederer group recently renovated the shopping centre and has plans to redevelop 2 other large blocks they own in the city. The RSL club and Leagues club have both submitted plans for major redevelopments. John Singleton spent $4 million on the interior fit out (alone!) of his new restaurant - John Singleton backs $4 million Bon Pavilion in Gosford


    Lots of this has been talked about for decades... but we've never seen any cranes.
    What do you guys think?

    Full disclosure - I own property in Gosford
     
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  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Great to hear that there are movements on the central coast, long overdue.

    I know that the waterfront work was long overdue. There are a few other threads around about the CC being on the up. Even off forum, I was chatting to a friend who has some IPs up there, just took handover of a GF on a property in Umina.

    I believe that @datto would feel out of place even in Umina nowadays ;)
     
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  3. Andrewjh

    Andrewjh Member

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    Yep Woy Woy and Umina area have already lifted a lot!

    Seems to me there's no reason Gosford should be cheaper than Woollongong, other than the lack of industry - but it's right between Sydney and Newcastle so it's got jobs within a stone's throw both ways.

    If it rises to par with Woollongong it's got some capital growth ahead!
     
  4. datto

    datto Well-Known Member

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    I still feel comfortable in Lake Haven shopping precinct and the surrounding houso area.
     
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  5. Scott No Mates

    Scott No Mates Well-Known Member

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    You might even bump into @darlo if you go to Lake Munmoron.
     
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  6. datto

    datto Well-Known Member

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    I thought they moved him to Long Bay?
     
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  7. Andrewjh

    Andrewjh Member

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  8. larrylarry

    larrylarry Well-Known Member

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    still in darlinghurst...
     
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  9. datto

    datto Well-Known Member

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    He's been keeping such a low profile I thought he was in the can.