Land Reserve Update - August 2018
The Lifecorp team has been working on some exciting projects in the land reserve space.
There's plenty to talk about at the next round of events and more will be shared then.
Paul Loughland, one of the buyer's agents, visited the Old Bar estate in Taree recently and was excited by what he experienced and saw there.
"Great location, literally 1 minute to Coles and 3-4 minutes to the beach. Talking to locals, this area will be the new centre of town. Shopping centre to go across the road and another 800 lots to be released eventually. The area is rapidly growing - the few different locals I spoke with were very positive on the area and the growth. They thought the town will go from about 3000 people at present to 12,000 people and that will be the maximum due to limited land," Paul said.
Lifecorp has also been pursued by one of the more active builders in the market who are keen for us to develop the land and get things started.
Property manager Terri Tipper from the Port Macquarie region is also enthusiastic by the growth she has seen in the Old Bar region.
"The coastal location of Old Bar offers a unique 'on the sand' location in regional NSW. Currently with a population of 4,390* people and 24.35%* of its occupants live in rental accommodation. The medium rent in Old Bar for houses is $380* per week and the median rental yield is 4.24%*. This region including Taree close by is growing substantially with new schools and employment opportunities coming up in both Old Bar and close neighbour Taree. With Sydney an easy 3 hour commute regional family life is becoming more and more appealing for young families, proven by the recent population growth across the Mid-North Coast region," Terri said.
We're looking to start the project very soon, so look forward to a comprehensive update in the next few weeks.
Another area of focus has been Crest in Gympie.
Trent Durrington has been working on Crest and looks forward to being able to reveal more on this project to our members soon.
"Gympie currently has an under supply of quality land available. The local builders are desperate for quality, good size (700sqm+) lots to hit the market. They're also seeing an increase in migration from the Sunshine Coast with buyers requesting larger lots than the current available 500sqm lots," said Trent.
The final area we're still looking at is Highworth in Sunshine Coast, which has been a challenge due to all the stakeholders involved.
We're hoping to be able to get development approval and everything to fall into place exactly as we would like.
For Old Bar and Crest, we expect them to start rolling out in 2019 with Highworth hopefully not too far behind.
The team is also working on three new areas and hope to be able to share one of them at this round of events with you.
*Stats sourced: Real Estate Investor