House and Land package in Peregian Springs, QLD

Hi All,

Long time observer, first time poster on the SS forum!!

I have been offered the following investment opportunity and would like to receive feed back, can be both positive and negative, from the SS community.

In short, an offer has been made to us for a brand new "dual key" house and land package in Peregian Springs on the Sunshine Coast. The deal comes to approx. $575,000 for the fully completed, ready to move in/ rent out package.
The block size is approx. 700sq/m. The total floor area is 225 sqm (165 main residence & 60 sqm for the unit) A rental appraisal has been provided that outlines rental return of between $440 - $460 for the main 3 bedroom, 2 bathroom home and $320 - $340 for the adjoining one bedroom home. This gives an approx. $760 - $800 per week return on the property. Build time has been estimated at 4 months by a reputable builder who has built many dwellings in the area.

Any feedback will be greatly appreciated!!

Thanks.
 
You can't rent out the 2nd dwelling on the one title seperately in qld. So rent won't be that much unless you rent the 2nd dwelling illegally.
 
Hi Tim

Not quite right there.

It all boils down to the individual Council.

If you take the SE Qld area whilst you are correct for Brisbane this is not the case in Logan or Ipswich Councils.

More and and more Councils in Brisbane are slowly waking up to the fact.
 
I'd be very hesitant to accept the numbers that they've given you, particularly if they are the ones who have vested interests in the sale proceeding. Definitely do your due diligence and check all the numbers.

As it is a newly developing area, I'd also be very wary that there's not likely to be much stopping developers from rapidly building and supplying the surrounding region, which may limit the potential growth on the property.

Moral of the story, do your own research.
 
Im very interested to see how that will be approved on the Sunny Coast. Be aware that Noosa is breaking away from the Sunshine Coast Council and development such as that proposed may be knocked on the head even if its possible now which from my research it isnt. Hopefully Im wrong ;)
 
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