Gladstone QLD - How is it Going????
- Thread starter charlieandkath
- Start date
Our landlord is still trying to sell our place... had no interest so the asking price dropped over $20k (probably asking too much in the first place anyway!).
Looking Up
We've not long settled on a 3 x 3 townhouse at Calliope and after an initial period of low enquiry the whole complex (11 units) was rented out over a 3 week period. We're getting $530 per week on a 6 month lease from 2 Bechtel workers who wanted to bring their own furniture. It looks like Calliope for unfurnished and Gladdy for furnished (depending on proximity to CBD and configuration of property).
Enquiry is still high and rents will probably go up for us at lease end. I think the little lull is over again and we'll see a repeat of 2010/11.
Sponge Bob, we use Elders and they have been really good. They tried extra hard to get tenants when the enquiry dropped off and it's paid off for us now.
We've not long settled on a 3 x 3 townhouse at Calliope and after an initial period of low enquiry the whole complex (11 units) was rented out over a 3 week period. We're getting $530 per week on a 6 month lease from 2 Bechtel workers who wanted to bring their own furniture. It looks like Calliope for unfurnished and Gladdy for furnished (depending on proximity to CBD and configuration of property).
Enquiry is still high and rents will probably go up for us at lease end. I think the little lull is over again and we'll see a repeat of 2010/11.
Sponge Bob, we use Elders and they have been really good. They tried extra hard to get tenants when the enquiry dropped off and it's paid off for us now.
I see you're now spruiking it up over on this forum as well.......
This 'Person' must be an absolute Guru!
Is the Truth a big secret??
Yes do tell... I would love to know the "truth".
Some light reading for those who think they missed the boat -
http://www.crawfordrealty.com.au/Gladstone-Free-Report
http://www.crawfordrealty.com.au/Gladstone-Free-Report
Any ideas/feedback on the report? Developers hype?
HI Jenko.
I read at least 50% of this and to me it was developer's hype. Similar to Dymphna's hook emails.
On the positive side, it referred to the CQU report about future development and the projected population increases projected.
Negatives:
Failed to mention all the single men's quarters being built or completed
Failed to mention all the housing construction currently underway
Failed to direct readers to the column on tables which state the refineries and ports, once constructed, will have minimal operational employees.
When I got bored with reading what I had already seen in the past, I clicked on the link to their properties. They are all in WA and none in Gladstone anyway.
I am waiting for a reply from my PM asking how it's going.
I read at least 50% of this and to me it was developer's hype. Similar to Dymphna's hook emails.
On the positive side, it referred to the CQU report about future development and the projected population increases projected.
Negatives:
Failed to mention all the single men's quarters being built or completed
Failed to mention all the housing construction currently underway
Failed to direct readers to the column on tables which state the refineries and ports, once constructed, will have minimal operational employees.
When I got bored with reading what I had already seen in the past, I clicked on the link to their properties. They are all in WA and none in Gladstone anyway.
I am waiting for a reply from my PM asking how it's going.
It appears to be written by Flynn de Freitas.
He wrote an article about 5 years ago for Your Investment Property that got me interested in the Gladstone market. He has known from very early on what the opportunities are and has articulated them very well.
He knows his stuff and has been on top of what is happening in Gladstone for a long time.
You can see his 5 year old article that put me onto Gladstone early, here http://www.omegainvestments.com.au/files/0802 YIP Infrastructure Spotting.pdf
He wrote an article about 5 years ago for Your Investment Property that got me interested in the Gladstone market. He has known from very early on what the opportunities are and has articulated them very well.
He knows his stuff and has been on top of what is happening in Gladstone for a long time.
You can see his 5 year old article that put me onto Gladstone early, here http://www.omegainvestments.com.au/files/0802 YIP Infrastructure Spotting.pdf
Mattnz,
Do you agree with Flynn's continued bullishness on places such as Gladstone? Would buying or developing in that type of area now be deemed to be "missing the boat"? As a share trader, the Santos share price and pattern is very ordinary indeed.
Cheers,
Greg
Do you agree with Flynn's continued bullishness on places such as Gladstone? Would buying or developing in that type of area now be deemed to be "missing the boat"? As a share trader, the Santos share price and pattern is very ordinary indeed.
Cheers,
Greg
Password protected?
The password is "gladstone" all lower case.
Hi Greg,
Good questions.
I wouldn't expect any significant news on Santos. They have committed to the projects they are doing, any potential news is more likely to be more cost blowouts.
The ones to watch out for news on are:
1. Gladstone Steel Plant (2,000 construction workers, 1,800 permanent workforce)
2. Arrow Energy LNG Plant (3000+ construction workers)
3. Natural Gas Power Station ($1.8 billion investment)
4. Gladstone Pacific Nickel ($3+ billion investment)
5. Stocklands retail expansion, doubling the size of the centre (660 construction jobs and 400 permanent jobs)
http://www.gladstoneobserver.com.au/news/investment-stockland-good-news-gladstone-shoppers/1694723/
6. What I see as the sleeping giant, QER Shale Oil plant. Gladstone has HUGE reserves of Shale Oil, which are still to be commercially developed. They are currently doing small scale testing to demonstrate that they can be environmentally friendly and plan to move to commercial production volumes. It is owned by a couple of US based billionaires, who have invested alot of time and money so far, so they must see a good commercial return at some point.
As a developer in Gladstone (I have 4 projects there), I am not looking to start any more development sites at this point in time, as they have an 18-24 month lead time and I have plenty of exposure to the market already (25 dwellings), but watch the above projects for indications of future growth potential, beyond the existing LNG projects.
Also, I would suggest monitoring the number of rentals available as a great leading indicator for this market. With the new G60 project (from memory 97 units were just completed), this put alot of rentals on the market in December(asking $850+ per week for 2 bed 2 bath, fully furnished). Currently there are approximately 350 rentals available on realestate.com.au for postcode 4680 (excluding surrounding suburbs).
Watch to see how quickly these come down by late Feb, to get an understanding of the strength of the current market. Ideally you want to see them under 200 again. If this doesn't happen, yields are likely to fall in the short term.
Of those 6 projects, Stockland expansion currently has the go and is proceeding in April this year (the Eastern half is, the Western half is still awaiting DA approval). The others are all in various stages.
Gladstone Boulder Steel is aiming at getting EIS approval by mid-year and starting construction early 2014.
Gladstone Boulder Steel is aiming at getting EIS approval by mid-year and starting construction early 2014.
