QLD New house and land development close to potential IP

Discussion in 'Where to Buy' started by chunky_lafunga, 8th Jul, 2015.

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  1. chunky_lafunga

    chunky_lafunga Member

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    Hi guys,

    I'm looking at a property in Logan city council and can see an 90 house estate that looks due for completion around end of 2016/2017 situated about 700m from the IP. The new housing estate is situated in 40+ ha of open space and parkland. and the 90 house state looks like it's only taking up 1/5 of the space

    Just looking to get your thoughts here
    - Could this have a significant impact on CG for said IP?
    - Would you stay away from this? Proceed with caution? Ask more questions?
    - the remaining 4/5 of the 40 ha are could potentially be developed as well in the future?

    Cheers!
    Sam
     
    chunky_lafunga, 8th Jul, 2015
    #1
  2. Big Will

    Big Will Well-Known Member

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    I would say caution it may have impact on finding a tenant perhaps.

    Are the new properties going to be chasing the same target market?

    Where would you rather live in your older house or a brand new house? Put yourself in the buyers (for future CG) or tenants shoes.

    Rest of the estate? PM me the place in Logan where the estate is and I can look up in my system but most likely yes.
     
    Big Will, 8th Jul, 2015
    #2
  3. Big Will

    Big Will Well-Known Member

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    Big Will, 8th Jul, 2015
    #3
  4. chunky_lafunga

    chunky_lafunga Member

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    chunky_lafunga, 8th Jul, 2015
    #4
  5. Big Will

    Big Will Well-Known Member

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    I have sent PM but long story short they only have approval for 58 houses.
     
    Big Will, 9th Jul, 2015
    #5
  6. chunky_lafunga

    chunky_lafunga Member

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    Thanks Big Will, got the info.

    Could I use the development as a potential bargaining tool with the agent? "60 new houses available next year 700m from the property; downward pressure on rent and potential to reduce growth"?
     
    chunky_lafunga, 9th Jul, 2015
    #6
  7. Big Will

    Big Will Well-Known Member

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    the worst they can say is no.
     
    Big Will, 9th Jul, 2015
    #7