QLD Petrie - University / The Mill Priority Development Area

Bingo. Economically there is ZERO downside to any project of this scale.

 

Patience. Give it 5 years and we’ll already see significant change in the area. The whole town centre area has been completely rezoned. The Uni is the thing that will drive the revitalisation and gentrification of the area. Just give it the time to play out. I’d say 10 years for the complete overhaul.

 

Let’s hope this project happens

University leader gets onboard with fast rail project

 

Will believe it when foundations are poured but looks like It's on!

Category: | The Courier Mail

Extract:

Petrie university campus gets funding to secure up to 3600 student places
David Alexander, Pine Rivers Press
February 14, 2018 5:22pm

THE cloud of doubt hanging over University of the Sunshine Coast’s Petrie campus has been lifted this week with almost $70 million allocated to secure thousands of student placements.

The future of the campus was “at risk” as a result of a two-year Federal Government funding freeze on university placements across the country. USC vice-chancellor Greg Hill and Moreton Bay Regional Council Mayor Allan Sutherland claimed the campus was in doubt as a result of the funding freeze.

However, Education Minister Simon Birmingham said that the university campus remained a “key priority” for the government.

Federal LNP MP for Dickson Peter Dutton and MP for Petrie Luke Howarth on Monday announced funding of $69.4 million over three years, from 2019-20, for student placements at the campus.​

There would also be funding for 3600 ongoing places from 2022.

​

 

Uni Update:

Category: | The Courier Mail

 

Awesome!

 

There are images of the first "foundation building" of the University here:

Educational Establishment - 965 Gympie Road, Petrie - Your Neighbourhood

"The building is proposed to be a maximum building height of 3 stories (19.8m in height) and located in the south west position on the campus grounds and be provided with pedestrian access to Petrie Railway Station on the Moreton Bay Rail Line."​

We can probably assume 5-10 years for the campus to be fully developed.

 

Ugly as

But at least it is real.

 

^ Is that the first foundation building right? Does anyone have CGI images like the above that shows the entire campus? and what each of the buildings will look like?

My house price gonna go up there. LOL - only < 500m away. Giddy up

 

That's the first building of many. No others have been built yet. The work to date has bene removing the paper mill and preparing the overall site.

My IP is 550m from the site of the first building (a 5-6 minute walk).

Agree. Giddy up.

 

Great. Cant wait to see what the entire Campus will look like. Along with this I'm hoping there will be a plethora of shops and amenities pop up across the road or very nearby.

Looking forward to the progression. At least its happening 100% now no dispute about that.

 

More concept images:

Another recent one:


This one is older and may be less representative:

 

Everyone on here seems to have already bought in Petrie - is it too late to get in?

I decided to buy in Logan region early last year while eyeing Petrie. Something in the Petrie area seems like a solid investment.
Are the areas around Petrie desirable?
Kallangur, Murrumba Downs, Lawnton or Strathpine? They all have train stations that connect to Petrie so it makes sense these areas may be decent options.

 

There is a bit more competition to secure properties close to the UNI site, but the prices haven't moved that much. Early days yet.
I bought on the Kallangur/Petrie border a year ago, very little price movement and I don't expect anything to happen in a hurry. If you get to know the RE agents and are prepared to move quick, you can probably still find a solid investment, provided you are looking at a long term return.

 

Also check zoning. Must fly but some zones near the stations allow for units or townhouses. Go to the MBRC Planning Scheme section of the Council website.

 

This is similar to what I have heard. Yes I would be looking to hold long term - I'm not trying to make a quick buck. Unfortunately as I am not on the ground I would need to ring around and let the agents know I am looking to buy. Getting in quick would key - would there be any point of offering lower than the asking price? I would already normally do this, however if the area is hot at the moment, would I even get a call back from the agent as others would most likely offer at least the asking price?

Thanks for the tip wombat777, I wasn't really thinking about zoning in this area as I would like to get a free standing house on a decent block. Are there investors currently buying in the zoned areas that allow high density to be built in the hope a developer comes along and buys at a premium? Or are the investors that are buying completing their own building projects?

 

I’ve got two properties in Urban Neighbourhood. One in Petrie, one in Deception bay. Freestanding houses on both currently. Yields are in the 5% range so i’m comfortablely holding them. My long term plan is to develop one or perhaps both. Zoning allows me to do townhouses or units. It does depend on the site. Ideally you want a 15m or wider frontage and ideally minimum 600sqm. Some sites smaller than this can be practical but get planning advice.

You can pay for a town planner to do a quick site assessment. That can be turned around quickly. I used @RPI .

 

This is where building rapport with agents comes into play. I would suggest making a couple of weekend trips out there, and make yourself known to the agents. Or even invite them out to a coffee if time permits - I'm sure they'll be able to provide plenty of useful local information for you. i.e. how hot the suburb is, what type of stock get sold quickest, what type of stock is in demand from renting perspective etc

Let the agents know you're serious, have got finance ready (check with your broker) and is ready to pull the trigger with the right deal. Let them know the criteria you're after and see if they have any existing stock or even upcoming deal that could match your criteria. Agents are smart, they will keep those in mind and if something that fits your criteria comes up, they know you could potentially settle the deal quickly and effortlessly.

 

Some great advice, I'll ensure to look for larger blocks for larger potential development. I was keeping in mind potential for duplex or granny flat, however it may be better to think bigger.

Hi David Shih, I am going down to Melbourne next week for work, so I'll have an opportunity to hire a car and drive around to the different RE agents.
Any tips on the best way to do this? I will be tight for time - would the agents be open for a short chat while taking me as a serious buyer? Can't hurt to try.
I could then continue to follow up via phone calls as I won't be able to keep going down to VIC.

 

Sounds like this trip might not be the best - you can certainly try, but if you are short for time then I would suggest no point rushing things.

Plan another trip so you can be more organized and can have a more in-depth discussion with the agent instead. In my opinion you'll achieve a better outcome this way.