NSW GOSFORD - the investment thesis

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

 

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

 

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!

 

I still feel comfortable in Lake Haven shopping precinct and the surrounding houso area.

 

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

 

I thought they moved him to Long Bay?

 

We’re for Sydney | Daily Telegraph

$1 billion of development is on the move. Pretty exciting times.

 

still in darlinghurst...

 

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

 

Lots of signs of Gosford and wider central coast being on the up: http://coastalchic.com.au/2010s-the...nQZDCZZbDW78vz925o-P8Prsh5Jpe4hrmezAr-KAx08P0

And Central Coast makes it onto a pretty nice travel destination list: Travel ideas for now | CN Traveller

 

'ang on....ang on..... @datto only feels out people not places..... last time dats was there.... he was booking it back to the Druie on the F1 ...... as the locals in Gosford did not take kindly to him. Something about him meddling with the local lasses.

 

Bloody land tax. If it wasn't for that, I would have put all my eggs in the CC basket.
Since I bought my two properties, they more than doubled in value.

 

Yeah. Next time I'm gonna hang out the Terrigal Caravan Park. See if I can get a job there cutting the grass.

 

The thesis makes sense for ppor, how does it work for ips which requires renters?

 

But...but....but... you were cutting the grass of someone else's lass? ...Weren't you Datts?

 

Yeah but it's a never ending job. Anyway back to it.

 

@datto is a boner-fide contractor and doesn't want flack from the ATO for proffering personal services hence he can't only cut the grass for a few fortunate lasses and always willing to take on new business.

 

Ok. So what's good in the Central Coast? @sash you've got a few there.

 

Yeah 2.....Woy Woy...and Watanobbi!

People thought I was crazy...

 

Fish and chips at the co-op.