QLD Petrie - University / The Mill Priority Development Area

Cheers for that. Guess better give more context to the question..

We bought the IP back in 2019 with an existing long term tenancy agreement and since then only increased the rent by $15 because that's what was provided for in the agreement. At the time it seemed like a good idea to keep the arrangement in place but now know better .

The tenants are ok, in that they always on time with their rent and are semi tidy, however having issues with cigarette smell inside the house and have taken this up with the rental agency. Tenants responded back, they smoke with the door open or at the door hence the smell inside. I believe thats BS and have to admit am not too happy with the agency either due to other stuff, so looking to change them shortly.

As the existing agreement ends in January 2021 and working out my options now.

Thanks again for your feedback

 

Imho, smoking is one of the most annoying and difficult things to rectify if you've got heaps of soft furnishings. I can smell it a mile away in a house and I suggest you open the aircon filters and that will tell you very quickly if they've had the AC on and smoked inside.

 

Drove pass the Petrie area, realised that the roundabout has started some road works. Besides, I realised that the new Woolies shopping centre is now divided into multiple stages, putting the student accommodation last.

 

https://www.realestate.com.au/sold/property-house-qld-petrie-135899690

She’s moving...
@JAW @thunderstrike888 estimate 12 moths ago I would have thought $400k

 

For sure. Anything that falls within the 1.5km-2km blast radius of the new Uni(Petrie PDA) site has been raised by a bare minimum of 100k over the past 6 months.

Once the site reaches its second, and then in turn third, development stage, over the next 8 years, then we’ll REALLY start to see some serious Capital Growth **** hit the fan.

We’re just warming the pan right now. We’re not even cooking yet.

 

Good deal this one if you can get it for under $500k I think. I would buy it myself I think if I could get more money. hahaha

39 Chambery Road, Petrie, Qld 4502 - House for Sale - realestate.com.au

 

Especially being brick, great value if it could be snagged for just under half a mill.

 

Nickster, I recently bought a car unseen and it had been smoked in. I bought a $150 Ozone generator off eBay, and after leaving it in the closed car for an hour, the smell has completely gone. It will take longer to do a house, but make sure you keep this up your sleeve when you do need to get new tenants in

 

https://www.realestate.com.au/property-house-qld-petrie-136627830
This one gone within 2 days... crazy.

 

looks like a small rundown property. Is this gone because of land zoning?

 

Hi, I am new to this forum and Prop investment, looking for an IP under $500. Interested in Petrie/ MB area, and could anyone point me to flooding info. Does it flood in MB?

 

Any low land may potentially flood, but not usually. Check the council website for more specific info.

 

Interior condition is alright though. I wonder how much it was on the contract.

 

Only a 2 bedder as well. Easily falls without the 1.5-2km Mill PDA blast radius, so it was always going to be snapped up, as long as the price wasn’t too obscene.

 

If you happen to be looking at Lawnton, make sure you check flood maps.

 

Hi All

Does anyone know of any examples of a townhouse development on a ~600sqm block in Next Gen zoning with a ~20-22M frontage (not a corner block)? I am looking for an asset in my portfolio with development potential in 10-15 years and just trying to work out what you might be able to do with a block around that size.

Thanks,
Mark

 

“a townhouse development on a ~600sqm block in Next Gen zoning with a ~20-22M frontage”

I sincerely think you’ll struggle to find a townhouse on ~20-22M frontage anywhere. As developers become more greedy, land in general will become more valuable, and in turn frontage as well. I wish you the best in your search.

 

Just to confirm, are you saying I'll struggle to find a 600sqm block with a 20m+ frontage?

 

If it’s a townhouse, yes.

A 600m block would be for an established freestanding house, never a townhouse.

On 600m, it would be absolutely gigantic for a townhouse. In the general area, most new, modern, free standing homes struggle to sit on a 600m block. Older, established homes generally sit on 600m blocks,

Most modern, free standing homes, are now on on sub 400m blocks.

In turn, most townhouses are on really tiny blocks.

 

Ah, I see. What I meant was finding an older established house on a 600sqm block with 20m+ frontage that in 10-15 years I’d “potentially” knock down and then build town houses on the block. I was trying to work out whether people are putting 2/3/4 townhouses on a block like that in the Petrie area.