Hi there everybody,
I saw this article in The West Australian this morning. Some interesting points made, particularly regarding the solid state of the market there.
It would be interesting to hear what other NW investors have to say about Karratha and Port Hedland as potential places to purchase the next IP.
An interesting read =
Karratha’s local staff to get lots
21st February 2009, 6:00 WST
Local businesses in Karratha are to benefit from a dedicated allocation of residential land for employee housing in a move by LandCorp to help keep the firms well staffed.
LandCorp has earmarked 50 lots for businesses in its new Baynton West residential estate.
Lands Minister Brendon Grylls said feedback from a survey of business operators in Karratha late last year indicated that finding suitable housing for employees was a concern for local business owners.
“A total of 89 per cent of businesses indicate that employees have problems with accommodation, particularly with the high cost and low availability of rental properties,” Mr Grylls said.
A campaign of taking registrations of interest from local businesses, which closes on Friday, has attracted inquiries from more than 40 firms.
Their interest is deemed serious by LandCorp because they had to include $1000 with their registration, which is refundable if they do not proceed with a transaction.
“In many ways it is potentially defying the situation that we seem to be finding everywhere else globally,” LandCorp chief executive Ross Holt said. “The Pilbara seems to be an ongoing bright spot.”
The lots range in price from $125,000 for 320sqm, which is about the same price as this time last year. “We are trying to aggressively price the small lots to encourage people to take up small lots,” Mr Holt said. The biggest lots are about 600sqm.
Nearly all businesses in the Pilbara would need to provide housing in order to attract and retain employees. “If you are a panelbeater for example and you need staff, you can’t staff if there is no accommodation,” he said.
“Probably in the past there were more people locally. But a lot of people have been sucked out into the resources sector because they get paid more.
“So to attract staff, you need to provide other amenities.”
If the demand by businesses was great, LandCorp would release more employee housing lots, he said.
The total Baynton West project area is about 93ha and the projected number of dwellings is about 1000 on 813 lots. It includes provision for parks, a primary school and community facilities.
On the industrial scene in Karratha, 15 lots on Seabrook Crescent and Augustus Drive in the light industrial estate will be released next month.
Civil works began last year in the 20ha subdivision, which features lots from 2400sqm up to 1.2ha. They are likely to be priced from $160/sqm to $200/sqm. Mr Holt said another 24 lots would be released next year. The delay in releasing the lots was due to power supply problems so LandCorp was working with Horizon Power to ensure supplies were augmented.
In Kununurra, LandCorp will release its 20-lot light industrial estate next month. Lots in the estate, which is an expansion of the existing Weaber Plains Road industrial area, range in size from 1885sqm to 1.5ha and will cater for future growth and development of the region.
A broad cross-section of industries, including warehousing, transport, machinery, builders, developers, earthmovers and industrial trades, have registered interest in the release.
LandCorp is also active in Port Hedland, where it is aiming to help small business capitalise on the demand created by the resources industry. After releasing 22 light industrial lots in the Wedgefield industrial area in 2007, it is now focusing on stage two, which will consist of 19 lots on the corner of Iron Ore Street and Pinnacles Street.
Wedgefield is about 12km south of Port Hedland and 5km from South Hedland. Situated among a concentration of Port Hedland’s smaller industries and contractors, it offers potential for a variety of businesses servicing the mining, construction and transport industries.
LandCorp recently ran an industrial land survey asking the businesses of Port Hedland what their requirements were for industrial land in Wedgefield. This information is being reviewed and will help the planning for future stages.
The 19 lots in stage two are 2000sqm to 7200sqm but there is the opportunity to amalgamate lots to create even bigger parcels. The prices are likely to start around $200/ sqm.
Site works are expected to start during the middle of the year once subdivision approval and relevant land clearances have been obtained.
It is hoped the site works will be completed by the end of the year, and the lots released to market during the second half of the year.
Mr Holt said a further 20 lots would be released later, subject to demand.
“We are also looking at a precinct dedicated to transport and logistics with a double road frontage for big trucks and the like,” he said. It would not come on stream for 18 months to two years.
I saw this article in The West Australian this morning. Some interesting points made, particularly regarding the solid state of the market there.
It would be interesting to hear what other NW investors have to say about Karratha and Port Hedland as potential places to purchase the next IP.
An interesting read =
Karratha’s local staff to get lots
21st February 2009, 6:00 WST
Local businesses in Karratha are to benefit from a dedicated allocation of residential land for employee housing in a move by LandCorp to help keep the firms well staffed.
LandCorp has earmarked 50 lots for businesses in its new Baynton West residential estate.
Lands Minister Brendon Grylls said feedback from a survey of business operators in Karratha late last year indicated that finding suitable housing for employees was a concern for local business owners.
“A total of 89 per cent of businesses indicate that employees have problems with accommodation, particularly with the high cost and low availability of rental properties,” Mr Grylls said.
A campaign of taking registrations of interest from local businesses, which closes on Friday, has attracted inquiries from more than 40 firms.
Their interest is deemed serious by LandCorp because they had to include $1000 with their registration, which is refundable if they do not proceed with a transaction.
“In many ways it is potentially defying the situation that we seem to be finding everywhere else globally,” LandCorp chief executive Ross Holt said. “The Pilbara seems to be an ongoing bright spot.”
The lots range in price from $125,000 for 320sqm, which is about the same price as this time last year. “We are trying to aggressively price the small lots to encourage people to take up small lots,” Mr Holt said. The biggest lots are about 600sqm.
Nearly all businesses in the Pilbara would need to provide housing in order to attract and retain employees. “If you are a panelbeater for example and you need staff, you can’t staff if there is no accommodation,” he said.
“Probably in the past there were more people locally. But a lot of people have been sucked out into the resources sector because they get paid more.
“So to attract staff, you need to provide other amenities.”
If the demand by businesses was great, LandCorp would release more employee housing lots, he said.
The total Baynton West project area is about 93ha and the projected number of dwellings is about 1000 on 813 lots. It includes provision for parks, a primary school and community facilities.
On the industrial scene in Karratha, 15 lots on Seabrook Crescent and Augustus Drive in the light industrial estate will be released next month.
Civil works began last year in the 20ha subdivision, which features lots from 2400sqm up to 1.2ha. They are likely to be priced from $160/sqm to $200/sqm. Mr Holt said another 24 lots would be released next year. The delay in releasing the lots was due to power supply problems so LandCorp was working with Horizon Power to ensure supplies were augmented.
In Kununurra, LandCorp will release its 20-lot light industrial estate next month. Lots in the estate, which is an expansion of the existing Weaber Plains Road industrial area, range in size from 1885sqm to 1.5ha and will cater for future growth and development of the region.
A broad cross-section of industries, including warehousing, transport, machinery, builders, developers, earthmovers and industrial trades, have registered interest in the release.
LandCorp is also active in Port Hedland, where it is aiming to help small business capitalise on the demand created by the resources industry. After releasing 22 light industrial lots in the Wedgefield industrial area in 2007, it is now focusing on stage two, which will consist of 19 lots on the corner of Iron Ore Street and Pinnacles Street.
Wedgefield is about 12km south of Port Hedland and 5km from South Hedland. Situated among a concentration of Port Hedland’s smaller industries and contractors, it offers potential for a variety of businesses servicing the mining, construction and transport industries.
LandCorp recently ran an industrial land survey asking the businesses of Port Hedland what their requirements were for industrial land in Wedgefield. This information is being reviewed and will help the planning for future stages.
The 19 lots in stage two are 2000sqm to 7200sqm but there is the opportunity to amalgamate lots to create even bigger parcels. The prices are likely to start around $200/ sqm.
Site works are expected to start during the middle of the year once subdivision approval and relevant land clearances have been obtained.
It is hoped the site works will be completed by the end of the year, and the lots released to market during the second half of the year.
Mr Holt said a further 20 lots would be released later, subject to demand.
“We are also looking at a precinct dedicated to transport and logistics with a double road frontage for big trucks and the like,” he said. It would not come on stream for 18 months to two years.
