QLD Petrie - University / The Mill Priority Development Area

Discussion in 'Where to Buy' started by wombat777, 12th Apr, 2017.

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  1. wombat777

    wombat777 Well-Known Member Premium Member

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    Last edited: 12th Apr, 2017
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  2. wombat777

    wombat777 Well-Known Member Premium Member

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    The survey describes the area as follows:
    • Mill Central - centred on the new USC campus and a revitalised Petrie town centre with a mix of retail, commercial and community use.
    • Mill Innovation - space for innovative businesses wishing to co-locate with the university
    • Mill Urban - residential development with high-quality amenity and streetscapes
    • Mill Transit - opportunities for transit oriented development around Kallangur station.
    • Mill Green - More than 200 hectares of conservation area and lakes will be protected, restored and managed, enhancing koala habitat and wildlife corridors on site.
    Mill_places.jpeg
     
    Last edited: 12th Apr, 2017
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  3. wombat777

    wombat777 Well-Known Member Premium Member

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    Mill_innovation.jpeg
     
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  4. Realist35

    Realist35 Well-Known Member

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  5. wombat777

    wombat777 Well-Known Member Premium Member

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    Certainly is ;)
     
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  6. wombat777

    wombat777 Well-Known Member Premium Member

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    Queensland universities rank highly in student satisfaction

    The student satisfaction ranking came as the University of the Sunshine Coast announces a new campus at Moreton Bay.

    USC, the third-highest Queensland institution for student satisfaction, opens a Petrie campus on a former paper mill site in 2020.

    The new campus would mean a much shorter commute for tertiary students in the Moreton Bay region, according to mayor Allan Sutherland.

    "Currently 90 per cent of tertiary students from the Moreton Bay region spend around three hours travelling to and from their higher education facility in either Brisbane or the Sunshine Coast," he said.
     
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  7. hash_investor

    hash_investor Well-Known Member

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    Very nice to see that. Looking forward to all the people moving in there soon to start the construction. It will be good for the area even before the students arive
     
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  8. wombat777

    wombat777 Well-Known Member Premium Member

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    We're still waiting for a funding commitment from the Federal government. Hopefully via the Federal budget.
     
  9. Whitecat

    Whitecat Well-Known Member

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    This is a great project. I know the area very well. A good investment at the current price point but there will be no explosion. This will grow quite slowly in students. Just be patient and look ahead 10 years or more. Get walking distance to this development. A good investment imho but a long term one.
     
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  10. wombat777

    wombat777 Well-Known Member Premium Member

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    This is much more than just students. Broad redevelopment has been planned, beyond the area of the old mill (with the University Campus and business/innovation/health employment precinct at the core ). It's quite reasonable to assume that the Petrie Town Centre redevelopment planning, approval and then construction will take place relatively quickly once the Uni has started construction ( which to meet current timelines, needs to commence no later than 2018 for opening in early 2020 ). Developers of the revitalised town centre would be aiming to get their developments ready for operation within 1-2 years of the University opening ( I'm putting a 2021 to 2022 timeframe for that ).

    To support this a Priority Development Area (PDA) has been established for the area focused around the current Petrie Town Centre. There are specific planning instruments being established to fast-track development in this area. This is to make it easier for development meeting the guidelines set down by the The Mill Proposed Development Scheme to rapidly achieve development approval.

    Screen Shot 2017-04-17 at 8.19.59 pm.png
    https://www.dilgp.qld.gov.au/resources/plan/pda/the-mill_pda_proposed-development-scheme.pdf

    The PDA is defined by this map:

    Screen Shot 2017-04-17 at 8.11.07 pm.png

    The PDA basically means rapid gentrification of the area. The overall intent is to establish good connectivity between the Petrie Town Centre and the University precinct. In the map below, note the red boundary (I've added the orange circle) covering the parts of Petrie in which there will be significant redevelopment. Assuming the University gets funding in time to commence taking students in 2020, there is going to be significant impetus/incentives for developers to commence the redevelopment of the town centre. The Moreton Bay Council are being given the powers through the PDA to quickly approve compliant development ( which reduces development risk, timeframes and cost ).

    Screen Shot 2017-04-17 at 8.13.47 pm.png

    This redevelopment of the town centre will then consequently have an immediate and positive stimulus for residential redevelopment in the immediate vicinity. This map shows the building heights planned for the Petrie town centre and the adjacent residential areas.

    ( MBRC planning scheme maps can be accessed here - Planning scheme maps - MBRC Planning Scheme )

    Screen Shot 2017-04-17 at 8.35.43 pm.png


    Screen Shot 2017-04-17 at 8.42.14 pm.png

    The vision (above) is quite different to what we have now (below).

    Screen Shot 2017-04-17 at 8.49.23 pm.png
     
    Last edited: 17th Apr, 2017
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  11. wombat777

    wombat777 Well-Known Member Premium Member

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  12. rizzle

    rizzle Well-Known Member

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    Have you bought in already wombat?
     
  13. wombat777

    wombat777 Well-Known Member Premium Member

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    Yes. Walking distance to the train station and University. Urban Neighbourhood zoning. Holding with a 6% yield.

    Edit - was lots of competition when I was buying 6 months ago. Local builder/developers circling for sites.
     
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  14. Archaon

    Archaon Well-Known Member

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    Even less likely of getting in now?
     
  15. wombat777

    wombat777 Well-Known Member Premium Member

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    Yes. Numerous PC members trying to buy in the area. 1 or 2 others bought just after me.
     
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  16. wombat777

    wombat777 Well-Known Member Premium Member

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    Is the below suggesting an announcement in the budget tomorrow night ... ?

    Whilst the project is in its initial stages, MBRC has already undertaken extensive community and industry consultation through online engagement platforms, letters to the public, information kiosk, and community open days. Initial feedback indicates overwhelming support for the project. The project also has support politically where funding from the federal government has been secured.

    National planning awards celebrate great ideas

    Best Planning Ideas – Large Project
    Award: Moreton Bay Region University Precinct (Qld)
    Project team: Moreton Bay Regional Council

    Jury comment: The Moreton Bay Region University Precinct is an ambitious and bold plan by Moreton Bay Regional Council (MBRC), which will be a gamechanger for the South East Queensland region. MBRC is commended for taking the initiative to make a strategic landholding purchase of the former Petrie Mill, deliver a major university campus, and successfully attract a university provider, the University of Sunshine Coast.

    This project, the first ever led by a local government in Australia, will create significant cultural, sporting, recreational and environmental community owned facilities that the region can be proud of. Whilst unique and innovative, the project has transferability to other local governments looking to diversify their economies and transform disused precincts.

    Whilst the project is in its initial stages, MBRC has already undertaken extensive community and industry consultation through online engagement platforms, letters to the public, information kiosk, and community open days. Initial feedback indicates overwhelming support for the project. The project also has support politically where funding from the federal government has been secured.
     
  17. MoneyMan

    MoneyMan Well-Known Member

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    When did you buy wombat? those plans were in the moreton bay plan to get rid of the old paper mill back when i was looking 2015 (most likely longer)
     
  18. wombat777

    wombat777 Well-Known Member Premium Member

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    Bought in Petrie last year and in Deception Bay in 2015.

    The University plans ( plus the railway line and the rezoning ) were the reason I decided to buy my second IP in Petrie.

    Edit - both properties are zoned Urban Neighborhood
     
  19. MoneyMan

    MoneyMan Well-Known Member

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    where abouts in deception? close to new rail line? what do you think of Lawnton, used to be lots of cheapie units there for close to $200K
     
  20. wombat777

    wombat777 Well-Known Member Premium Member

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    My DB property is 150m from the waterfront and near the primary school.

    Very important you do flood checks in DB ( and many other parts of MBRC ).

    I like Lawton. Slightly closer on the train to Brisbane. Very leafy too. Very good proximity to the University precinct. A nice walk/cycle across the river.

    Note the large area marked Urban in the image below. That will be entirely new development. Just something to be aware of. Perhaps not an issue with the wide scale redevelopment of the area that will occur.

    Lawnton is a very small suburb so properties will get snapped up quickly if they go on the market.


    IMG_8340.JPG