What effect will a new Caravan Park have near IP?

Discussion in 'Where to Buy' started by Hugh, 20th Jan, 2017.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Hugh

    Hugh Member

    Joined:
    19th Jun, 2015
    Posts:
    8
    Location:
    Sydney
    Hi all,

    Evaluating a potential 4/2/2 house as an IP, located a stones throw from the beach in a quiet area - across the road from a large tract of bushland. The area is mostly retirees, small suburb on the north coast of NSW.

    Council website does not have any DA's lodged on nearby properties, however I have heard (via a solicitor) that plans are on foot to develop the nearby bushland as a Caravan Park.

    Initially I thought this would be a negative but on reflection it would be good for the local economy so could be a positive growth factor, and the bushland feel of the area adjacent to prospective IP would remain bush with the caravans and cabins located a few hundred metres away.

    I've searched these forums with nothing found to answer whether Caravan Parks are generally a positive growth factor or not? All advice appreciated, cheers.

    Hugh
     
  2. robboat

    robboat Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    177
    Location:
    Sunny Queensland
    First step in development is to clear the ground, so a caravan park would be some "generally" positive movement for the area.
    Will bring some flow on growth with a couple of jobs, food, fuel, caravan, car repair places.
    If mostly retirees now then the only growth area is the local cemetery......
    Where on the North Coast?
    Most of the good spots have been developed as far as I can tell.....

    Overall I would think it would detract from your current value for the proposed IP.....but probably not a significant amount.
    This is mainly due to the holiday hordes from the caravan park that will use the beach.
    My 2c......;)