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The real concern is what a large drop in rent does to the property value. Any thoughts?

I am talking with agents in Gladstone every week and there on a regular basis. There is plenty of interest in the product at that price point and there is not much competition (read almost no competition) for high spec 4 bed 3 bath townhouses. The objective is simply to meet the market...

The aim isn't to compete with the workers that are bound to be in camps due to the EIS that Bechtel are working under. The aim is to target the 2nd tier contractors that can't afford the crazy rates in the camps and want a nice, central place to stay in. This market aren't staying in the...

Was just looking through the old posts. Goondog advised that the camps are $188 per person per night (includes food). Works out at $1316 per person per week, so around 4 times the cost per person for a 4 bed townhouse. Definitely different markets.

Camps are a different market again. You are looking at least 3 times the rental cost to put 4 workers in a camp each week. Ausprop, what rate per night per person were you working on during your feasability?

Thanks, that is in line with what the agency has advised. I have a mix of 3 bed 3 bath and 4 bed 3 bath townhouses about to go up. The agency advised $850-950 for the 3 beds which is as you say where the market is at now.

Sash, we aren't talking about renting a 4/2/2 to a family. It is renting to corporates who require more bathrooms and are looking to rent fully furnished, no maintenance in central locations, for 4 workers. Even 2/2/1 apartments can get $1100-1200 per week in central Gladstone. I know of other...

10% is the yield estimate from the rental agency, at the purchase price, not the development cost. Will soon be marketing 4 bed, 3 bath townhouses in Gladstone with expected yield of $1,100 to $1,200 per week fully furnished. Central West Gladstone location. I just got the rent estimate back...

I'm about to have townhouses come online that will generate 10%+ yields in Gladstone.

Well you certainly shouldn't have expected $3,000 per week to remain forever.