2 Bed 2 Bath + Parking Apartments Gladstone

[georgie1]

Hey

I have managed to secure a parcel of land at Gladstone and can build roughly 22 apartment of 2 bed 2 bath. Seeing as people have a lot of experience in Gladstone I want to see if its feasible to sell them at $480,000. I am about 1km away from the Showground.

Would you buy at this price?
Are apartments in demand in Gladstone?
Would I be better off making 1 beds or doing house & land packages.

Thanks.

 

[sanj]

cant help you specifically but since both you and mattnz are sydney based and developing in gladstone it could be worth the 2 of you having a chat and seeing if there are any synergies or contacts etc that can be shared/swapped

from previous posts of his ive read he seems to be pretty switched on and quite experienced re the area

 

[georgie1]

cant help you specifically but since both you and mattnz are sydney based and developing in gladstone it could be worth the 2 of you having a chat and seeing if there are any synergies or contacts etc that can be shared/swapped

from previous posts of his ive read he seems to be pretty switched on and quite experienced re the area

Hmm could be an option.

 

[mattnz]

Hi Georgie,

Assuming it is in West Gladstone, North of Flinders St in the high density residential zone, $480k for 2 bed, 2 bath is about right, that is what I am working on for my developments.

I think that 1 bed apartments would have a limited market and are unlikely to achieve a strong enough sale price when compared with 2 beds for the costs involved. 1 beds will still be limited by the 100sqm per unit zoning and you still need to provide 1 parking space per unit and a visitors park for every 2 units.

Not sure what you mean by house and land, do you mean townhouses in this location?

Would be very happy to catch up with you in a PM, Drop me a line with the address you have under contract. I currently have 3 development sites in the area with a mix of 2, 3 and 4 bed townhouses.

Cheers,
Matt

 

[georgie1]

Hi Georgie,

Assuming it is in West Gladstone, North of Flinders St in the high density residential zone, $480k for 2 bed, 2 bath is about right, that is what I am working on for my developments.

I think that 1 bed apartments would have a limited market and are unlikely to achieve a strong enough sale price when compared with 2 beds for the costs involved. 1 beds will still be limited by the 100sqm per unit zoning and you still need to provide 1 parking space per unit and a visitors park for every 2 units.

Not sure what you mean by house and land, do you mean townhouses in this location?

Would be very happy to catch up with you in a PM, Drop me a line with the address you have under contract. I currently have 3 development sites in the area with a mix of 2, 3 and 4 bed townhouses.

Cheers,
Matt

Hey, thanks for the reply

The site is actually a couple of streets away from the hospital, Ill probably end up selling them for $430k each. I want to get out of Gladstone, inside word is LNG plant is only going to reach 50% capacity due to a couple of contracts falling over.

 

[mattnz]

I sent you a PM. Also I have contacts with other developers that are looking for sites if you are interested in selling yours to exit.

 

[edge81]

Hey, thanks for the reply

The site is actually a couple of streets away from the hospital, Ill probably end up selling them for $430k each. I want to get out of Gladstone, inside word is LNG plant is only going to reach 50% capacity due to a couple of contracts falling over.

AJ Lucas got the shove by the local council I believe as they were not paying contractors. McCosker picked up the pieces and should be full steam ahead on that front.
Is the block towards NRG / Power House? Palm Dr way? Or is more Hanson Rd way towards the Netball Courts?