Gympie, Qld

Discussion in 'Commercial Property' started by allanh, 22nd Jan, 2022.

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  1. allanh

    allanh Well-Known Member

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    Can someone tell me the cap rate for Gympie?
    Is it considered as a good location for commercial property investment? How's the economic outlook over there?
     
  2. The Y-man

    The Y-man Moderator Staff Member

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    I have money in the shopping centre.... :D (cap rate is 7.25%)

    The Y-man
     
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  3. allanh

    allanh Well-Known Member

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    How do you feel the Gympie Bypass would effect the local economy? Would it divert traffic away from the city?
     
  4. The Y-man

    The Y-man Moderator Staff Member

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    Good question - one that would need to someone more local to answer, but I suspect it is not hugely reliant on passing traffic. It's quite a decent sized place, and after all your Blend 43 comes from there :D

    The Y-man
     
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  5. Heinz57

    Heinz57 Well-Known Member

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    Some lovely acreage property near Gympie. Town itself is built pretty much on a riverbed and floods every few years, probably due
     
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  6. allanh

    allanh Well-Known Member

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    Is Gympie considered as part of “Sunshine Coast shire” by the locals?
     
  7. AsburyJuke

    AsburyJuke Well-Known Member

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    Lol.

    No.
     
  8. Cousinit

    Cousinit Well-Known Member

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    Never been to Gympie but years ago it was considered undesirable by many people on the Sunshine coast. I expect that has changed a lot. Christies Beach in the South of Adelaide was a bit like that and look at it now?
     
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  9. Marg4000

    Marg4000 Well-Known Member

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    As it is, the Bruce Highway sort of skirts Gympie, it doesn’t go through the main part of town (check google maps).

    We have only ever stopped for petrol. There are few businesses on the highway at Gympie, mainly car yards, service stations, fast food outlets, a few motels.

    Gympie floods. Check flood levels carefully.
     
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  10. allanh

    allanh Well-Known Member

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    So overall, are you happy with your commercial investment in this location?
     
  11. The Y-man

    The Y-man Moderator Staff Member

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    BTW - I hope that bypass gets built before I go up there again on my commute between Brisbane and Howard!! I hate that bit of single lane 60km/h from the south where as a law-abiding interstate driver doing the speed limit, I get 4 semis up by posterior trying to push me along....

    The Y-man
     
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  12. The Y-man

    The Y-man Moderator Staff Member

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    I'm joshing you (to an extent) :D.

    I own units in Vicinity Centres, so it is one of 63 shopping centres I have interest in. Having said that, I think it is a solid centre, having the non-discretionary ColesWorths (Aldi is in a standalone thing across the road). When I popped in pre-covid for a coffee, the food court was pretty busy too.

    Given the popularity of regional areas
    Are more people likely to move to regional areas in 2022?
    I hope business will be on the grow.


    The Y-man
     
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  13. allanh

    allanh Well-Known Member

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    The property agent is looking at a good national tenant at Gympie for me. My only concern is that from this thread, I learnt that:

    1. Gympie is considered as "regional" when I asked the agent to look in within 10km of Brisbane, Gold Coast or Sunshine Coast. The agent Brisbane-based) told me Gympie is part of Sun Shine Coast Shire.
    2. I gathered that there is plenty of land in Gympie, would that create an over-supply issue when new buildings are built?
    3. Is Gympie gentrifying? or is it expected to gentrify? Hoping there is good capital growth potential there. My research seems to show that Gympie is not seen as a 'desirable' location to live / work?
    4. Flood - since most of it in flood zone, would the insurance be very expensive?
     
    Last edited: 23rd Jan, 2022
  14. AsburyJuke

    AsburyJuke Well-Known Member

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    Look, Gympie is a large regional town with a long history. It's not a boom-bust mining town, and it's certainly "to big to fail". It's a local government services hub, and has a big hospital and all the essentials - a few major employers, schools, supermarkets, car dealerships, cafes, banks etc etc etc....Yes, the local economy ebbs and flows over the years like any regional town, and some parts of town are likely to be busier than others.

    It's also unpleasantly hot in the summer.

    What Gympie is not:

    - An aspirational lifestyle destination. I've never met anybody who wants to move to Gympie. Sure, people live there because of work, or family, or history or whatever...but it's not like thousands of people are lining the Bruce Highway trying to buy property in Gympie.

    - Part of the Sunshine Coast. It's about 45 minutes to Noosa and about 45 minutes to Nambour, so it's close to the Coast, but anyone who tells you it's "part of the Sunshine Coast" is lying. I suppose it's technically true that Gympie is in the Sunshine Coast "region", but it's a separate LGA.

    - A remote/outback town. It's only 2.5 hours to Brisbane and 45 minutes from Noosa beach. It has a population of about 20k and is on the main highway and railway... Cunnamulla it ain't.
     
    Last edited: 24th Jan, 2022
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  15. allanh

    allanh Well-Known Member

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    Thank you, this is very very useful feedback and information, especially for someone out of town like me.

    I am not sure if you are familiar with NSW, but would it be similar demographic to Dubbo or Orange in NSW?
     
  16. AsburyJuke

    AsburyJuke Well-Known Member

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    Sorry mate I don't really know much about regional NSW.
     
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  17. The Y-man

    The Y-man Moderator Staff Member

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    As @AsburyJuke has answered most of the above, a few bits more....

    IMHO - gentrification is not really an issue for commercial as it is for resi - unless you are looking at a shopfront or something. As long as industry is happening there or passing through there - eg warehousing, they are what matters.

    Flood - call the insurance mobs and find out for a particular spot. Remember, if it's just a shed, it's prob not going to be hugely expy.

    As for your original question, although I haven't looked at Gympie specifically I think I saw 6%~7% figures when I last searched further north up Hervey Bay and Bundy.


    The Y-man
     
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  18. AsburyJuke

    AsburyJuke Well-Known Member

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    Re: the flooding - some parts of town don't flood at all. Other parts can be literally 10m under water!
     
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  19. AsburyJuke

    AsburyJuke Well-Known Member

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    Oh man... hope you didn't buy in Mary Street....
     
  20. SeanR

    SeanR Well-Known Member

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    Yep…Gympie is getting it. They’re saying it could be the highest water levels ever recorded
     
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