NSW Gosford

JRPP website has next meeting on July 30th. Gogo Gosford?

 

Very interesting things happening. A new Council GM and senior staff are very proactive and trying to change the perception of the Council as being one of the more difficult to deal with.

The continuation of bonus provisions in the city centre are an indication of this.

 

More n more residential are building, but hopefully they approve more commercial/tourist projects for employment and growth

 

Agree on the councils push for residential. However, there is an expansion of healthcare over the past year so maybe retail and commercial may follow soon.

 

So what's your take on it if one considers investing in Gosford and surrounds?

 

Problem is most new residents are commuters. Which does limit growth.

 

Hopefully more jobs in the area ...

 

Gosford should do well for a few reasons;
1. Jobs ... Relocation of a few hundred white collar ATO jobs ... Gosford hospital upgrade $600mn again good quality jobs being added to the local micro economy. Gosford won't be so reliant on commuters. These jobs are long term ... this isn't a mining boom town.
2. Sydney prices vs commuting. You don't get much in Sydney for half a million. Check realestate.com.au 53 Caroline St East Gosford. $500-$600K buys 3 bed absolute waterfront apartment (one sold, one under offer). An hour on the train is a compromise for commuters, but it's actually not a bad trip / fast train to Hornsby / Epping / Chatswood / city at a fraction of Sydney waterfront prices. Owner occupier appeal.
3. Livability. Massive redevelopment of the waterfront area - including retail & restaurants. Gentrification & the low soc-ec moving out / getting priced out. Plus everything else the Central Coast has to offer - beaches / lifestyle.
4. Despite the recent capital gain - still fantastic yields >5% at current prices.
5. For commuters by car - as the crow flies, Gosford is 1km closer to Sydney CBD than Penrith. Believe it or not. And a much better road ... Which will improve as the freeway gets linked to the M2 in the next few years. The new rail is well and truly cooked into Hills district prices already ... suspect the improved transport access to places like Gosford has been somewhat overlooked.

 

VB, I have a project at North Gosford and it faster for me to drive to that site than it is to get to my normal workplace at Newtown.

 

Great, but tell us where are you driving from? ☺

 

From Epping to North Gosford 67km always just under an hour
From Epping to Newtown 24km anything from an hour to and hour twenty (no road issues)

 

I agree @Chilliblue I used to drive to city from Dundas and it's more than 1 hour. I now train in 45 mins.because of carlingford line!!! Still, better. Gosford is a big city but they really need to encourage investment and businesses.

 

And apart from the time, one is a much more pleasant drive ... It just looks like magic as you roll down the hill and cross the Hawkesbury passing Brooklyn.
From Epping that's only going to get easier once you can get from the M2 to the M1 without having to go on Pennant Hills Rd.

I guess people like Newtown for the cafe culture (amongst other things), I've noticed this starting in East Gosford, and no doubt it will hit Gosford big time with the waterfront redevelopment. I'm not a $5 cup of coffee kind of guy ... But I absolutely know where I'd prefer to sit and drink one!

 

What project youre doing btw?

 

new 8 storey ready to go at 64 henry parry Drive

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I really want to see some commercial buildings popping up there ....

 

Very simple ... the yields are good in Gosford / cash flow positive - so buying existing stock (entry level), walk to station, hospital, Mann st. Attractive to tenants who commute or have a good job locally. Buy and hold.

 

Coming soon - Headlines of cranes over Gosford - announcements of some big approvals this year, as council has become development friendly and try to shake their old reputation and start to be seen as progressive.
The building that will house hundreds of relocated ATO jobs will be a custom new build is one example. NSW state govt also looking to push some government jobs back up that way.

 

I was in north Gosford and surrounds today. Pretty quiet. Had lunch at Tuggerah Westfield. Not a bad run on the road today.

 

I'm in Gosford today as well.

The Kibbleplex complex will be placed on the market by Council - this will free up another large block in the Gosford CBD.

 

jrpp on 30/7/2015 just approved Bean street development and the private hospital expansion ...

however rent at gosford not growing at all ...