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

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    BOOM Petrie BOOM! :D:cool:

    http://www.couriermail.com.au/quest...d/news-story/9fd979b59637c1336e391016a41249f3

    IT IS THE Budget that brought a tear to Moreton Bay Regional Council Mayor Allan Sutherland’s eye.

    University of the Sunshine Coast has been loaned $100 million by the Federal Government to kick start construction of its new Petrie campus.

    The Government tonight announced in the 2017 Budget it will provide a concessional loan to the university to finance construction of its foundation buildings.

    Though the exact amount of the loan is still being negotiated, Pine Rivers Press understands it will be about $100 million.

    The loan is in addition to the $35 million grant provided to Moreton Bay Regional Council last year for infrastructure at the precinct.
     
  2. Kevvy7

    Kevvy7 Well-Known Member

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    Sounds like it's definitely going ahead now.
     
  3. hash_investor

    hash_investor Well-Known Member

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    it always was.
     
  4. Kevvy7

    Kevvy7 Well-Known Member

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    Why is it not booming then?
     
  5. hash_investor

    hash_investor Well-Known Member

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    Whats a boom?
    The largest Australian city i.e. Sydney took 8 years to double which everyone is calling the largest boom by even Sydney standards.

    What are you expecting?
     
  6. Kevvy7

    Kevvy7 Well-Known Member

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    More than 2.4% growth YOY.
     
  7. wombat777

    wombat777 Well-Known Member

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    Yes. Definitely going ahead.

    The wait was for Federal funding of some sort. The state government had said they "supported it" but aren't really responsible for funding it.

    The good thing is that ultimately the University needs to pay for it, which any modern Uni should be able to do with income from Foreign Students.

    Council actually own the site and will be leasing it to the University. So it is in council's interest to accelerate the development for the income it will generate for them. Some of the land will be used for business/commercial/health facilities and so I understand that will provide a further income stream for council.
     
  8. sash

    sash Well-Known Member

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    Great question.....no boom...as I have said...there needs to be built up critical mass...

    With Sydney turning downwards...Brisbane is next...however...the boom will come from the inner city out...to Redcliffe peninsula and then inwards ...to Petrie...
     
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  9. wombat777

    wombat777 Well-Known Member

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    This extract from The Australian:

    Source: http://www.theaustralian.com.au/hig...e/news-story/2692b56f7b5f23e58cdb1fece47d3bb0

    The University of the Sunshine Coast will be loaned around $100 million by the federal government to start construction of its new campus, just north of Brisbane.

    The project, which was dreamt up by Moreton Bay Regional Council mayor Allan Sutherland, is midway between Brisbane and the Sunshine Coast and is expected to be open by the beginning of 2020. The region is expected to see it’s population grow by 40 per cent, or 500,000 people closer to the time.

    “The federal government has recognised the need for a university campus in the Moreton Bay region, one of the country’s most disadvantaged areas in regards to access to tertiary education,” Professor Hill said.

    The nearest university campuses to the area include a Queensland University of Technology campus at Caboolture and an Australian Catholic University precinct north of inner Brisbane.

    The new university will sit in the electorate of Federal Immigration Minister Peter Dutton.

    The council paid $50.5 million for a 200 hectare site mill in Petrie in July 2015 before it had found a university to take over the project.

    Professor Hill has estimated the campus will attract 10,000 students within 10 years. The loan, which has not yet been finalised, will be in addition to $35 million given to the university for the project.
     
  10. wombat777

    wombat777 Well-Known Member

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  11. wombat777

    wombat777 Well-Known Member

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    (Paywalled, so some extracts)

    RESIDENTS in a small suburb north of Brisbane are holding on to their homes ahead of a potential boom in the property market

    Petrie, 24km north of the CBD, is on the verge of a major transformation with the University of The Sunshine Coast set to open a campus on the site of the former paper mill by 2020.

    ...

    The dearth of medium to high density housing has local property owners eyeing a potential windfall in the coming years and they’re holding on to their homes, says local LJ Hooker Real Estate agent Neil O’Brien.

    He said until a few months ago there was ample stock but not now it’s down to a trickle because of The Mill development.

    ...

    “People are holding off from putting their houses on the market believing they are going to make a lot more money in a few years and that’s resulted in a lack of stock.

    “We are absolutely desperate for stock at the moment.”

    ...

    According to Moreton Bay Council’s demographic forecast study, by 2026 an additional 21,000 residents will be living within in a 5km radius of the development and an extra 44,000 within a 5-10km radius.

    Mr Pratt said those wanting a quieter neighbourhood may have to relocate, as many have already done, to Morayfield or even Caboolture to escape the urban sprawl.

    “People may want to, and some have moved to Morayfield and Caboolture and beyond because Petrie is not that far from Brisbane. It’s a 30 minute drive,” he said.

    “I think people in Petrie have under-estimated the attractiveness of the suburb from a proximity point of view to Brisbane.”




    http://www.couriermail.com.au/news/...t/news-story/df9b26b3ac96bad9842815be3bd3130f
     
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  12. hash_investor

    hash_investor Well-Known Member

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    congrats to whoever foresaw that happening
     
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  13. wombat777

    wombat777 Well-Known Member

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    A look at demand by suburb for locations in close proximity to the University site. Each of these has train stations.

    Petrie
    IMG_0528.jpg

    Bray Park IMG_0532.jpg

    Strathpine
    IMG_0533.jpg

    Lawnton
    IMG_0531.jpg

    Murrumba Downs
    IMG_0534.jpg

    Kallangur
    IMG_0530.jpg
     
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  14. hpresident

    hpresident Well-Known Member

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    @wombat777
    would you say by the visits per property figure Kallangur is still under the radar? why is the Kallangur visit number so low?
     
  15. wombat777

    wombat777 Well-Known Member

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    Vacancy rates are an issue in Kallangur at the moment.

    Also look at the amount of rental stock! That would impact investment due to time required to find a tenant. Less an issue if you are looking for a PPOR.

    IMG_8449.jpg

    IMG_8448.jpg
     
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  16. hash_investor

    hash_investor Well-Known Member

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    Great to see the improvements... They were close to 4% just a few months ago
     
  17. RetireRich101

    RetireRich101 Well-Known Member

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    that was using SQM vacancy rates... it is still above 4%
     
  18. Pentanol

    Pentanol Well-Known Member

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    Well I guess it's no surprise, everyone bought houses around there for a uni that won't be opening up until 2020. So I wouldn't imagine the area would appeal to many people yet. On top of that, there are a lot of new townhouses built that are also competing against it. For the time being, I reckon people would prefer to live Chermside or inner city
     
  19. hash_investor

    hash_investor Well-Known Member

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    Are you following the Kallangur thread? The vacancy rates are not that bad though.
     
  20. doubletoplei

    doubletoplei Well-Known Member

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    Bought last June, settled in August (vendor requested delayed settlement), leased straight away after settlement. Just received a noticed from my PM that tenants signed another 12-month lease till Aug 2018. Positively geared since day 1 and 8% increment in equity . Can't complain!
     
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