Marsden Park ? 2765

Richard Feynman

Richard Feynman

Just dangling this carrot*. Anyone got their eyes on Marsden Park, NSW ? particularly as a longterm prospect?

A few things of note:

- Rezoned for urban development October 4th, 2013 (http://www.gcc.nsw.gov.au/marsden_park-118.html) - 10,300 homes for over 30,000 residents planned
- Sydney Business Park (http://www.sydneybusinesspark.com.au/) is on the way with Bunnings, Ikea, Costco, Master Home Improvements, etc already having signed on board.
- North West Rail Extension to Marsden Park on the way.
- Land being released soon in the form of masterplanned communities

Thoughts?

*I'm in no position to buy at present, nor does Marsden Park fit my strategy, so I'm not after advice ? I'm simply curious about your thoughts.
 
judging from other precincts in the North West Growth Precinct that are already rezoned, the opportunity lies in buying land or land & home package. The Ponds which is close to Rouse Hill shopping center and proposed station were released in stages, and the opportunity lies with home buyers camping for days for a chance to buy a piece.
Though it falls in a specific LGA council, the S94 contribution may be different generally much higher if build new dwelling or Granny flat.
you could buy 5 acre farms that are rezoned, but concerns for holding cost, land tax etc before it can be built. Currently most land there, though rezoned, the servicing is not ready, so might be a land bank opportunity, but not for average investor due above concerns...
 
A project called "Greenway" is launching this weekend. Only 50 or 60 house & land packages up for grabs in the first release. I bet they all sell out in a few hours.
 
Yeah. I believe the most recent release of the ponds went in a few hours.

It'll be interesting to watch what happens once the business park starts filling up.
 
I went to the Marsden park Greenway release this weekend. They will be giving out priority numbers on the 23rd of Nov. They project that the land will only be registered in 12 months time. Only 50 lots for the first release.

All 50 lots have already been packaged so they are giving out the price list and asking people to choose their top ten houses before they come in once they have been allocated a priority number.

The bloke there reckons that on the Saturday they had over 600 people register.
 
There are a few rural blocks in Marsden Park and Riverstone. What's the scope for these for future re-zoning? Has anybody bought rural blocks for long term CG?

We were considering buying one of these for our SMSF though a bit of a cash drain given there is no rental income. Some I note are as cheap as 100k for a decent sized block (~800sqm) for anywhere from 70k in Riverstone.

But if it's got potential, then it would be a lot more capital growth as opposed to holding costs.

Would you buy one of these outside SMSF? I think it really comes down to the current cashflow position for the whole portfolio. I believe these would be good side buy and hold properties, besides the better CG buy/hold and/or development in greater CG areas.

Thoughts?
 
I had a look at those under $100K land in Riverstone.

There alot of cons than pros when trying to buy one of these as land banking.

Pros:
Land banking, hoping future change in urban development will speed things up.

Cons:
Some of the properties are not even Released. There is another stage Rezone which the property will be marked for open space/drainage, R2, R3 etc
The servicing is not ready. This is likely years away and generally happen after rezoining.
Some of the property are in flood zone.
Some the property are zoned as Environmental Space, meaning you can never build anything on it.
The current zoning on some are Rural 1A, and if it doesn't have a dwelling on it, you can't build anything on such small block. The Agent made it clear in most of the listing.
 
RetireRich101 said:
I trust you're at a 5 star hotel in Bangkok, with your Ipad logged on SS, sipping away your coconut juice near the poolside?
Click to expand...

Actually struggling a lot with food there :( Made me realise how good and diverse the food is back in Sydney. Didn't see the pool yet....though feel good to be disconnected from the routine :)
 
I'm wondering if the other side of Marsden Park would offer good growth. Currently the northern side seems to be getting a bit overpriced e.g. The Ponds. The southern side is still very affordable but just as close. I know these suburbs e.g. Bidwill, Shalvey, Willmot are currently a little undesirable but they seem to be improving with a lot more first home buyers looking for affordable options (the only suburbs in Western Sydney where you can buy a house for $300k). With the development of a business park at Marsden park, surely these areas can only get better as they attract workers. Ropes Crossing is a really nice area with new homes and facilities but still pretty affordable compared to The Ponds and in many ways it is nicer. It could have a bit of catch up growth.
 
I bought one lot @ Greenway, Marsden Park 2765

Hi,

I bought one lot (land size 430 SQM and building size 225 SQ/M) and total cost with upgrades would be around $600k

I know it is bit expensive but in today's market scenario, I could not find anything better than that in new development area.

I spent few months to do my reserach. Visited Bunya, Doonside 2767 and Ponds. Ponds is very expensive, minimum $ 650K and Bunya ( land price is so expensive). I was able to secure priority number at Bunya but was costing 300 SQM land at $300k and construction about $250k.

Keeping consideration that it is first release at Greenway and so bit reasonal land price ( 430 SQM land @ $310k). So without doing any further maths, I bought it.

There is less bus frequency to go Blacktown train station but hoping it will improve once Sydney Business park will be in operation.

Guys need your inputs how this area will be after 2-3 years ?
 
naren_nd said:
There is less bus frequency to go Blacktown train station but hoping it will improve once Sydney Business park will be in operation.

Guys need your inputs how this area will be after 2-3 years ?
Click to expand...

With regard to public transport, it's not a terribly long drive from Marsden Park to Riverstone/Schofields Railway station, where train services are decent.
 
The proposed NWRL that the train stops/terminates at Schofields Rd, near Tallawong Road, there are plans to extend this to Marsden Park/Richmond.. This is a long shot though and Government keeps changing their mind.
 
Well,

Riverstone and Schofiled train station is near. But I work in City and so prefer to catch a express train from Blacktown. So was searching for a bus route that takes less time.

I could not find any impressive. But not much worried at this stage because it will take TWO years to move in. Land registration is sometime in Oct-Nov 2014 and than another 7-8 months for construction.

Hopefully, by that time Sydney business park will start operating and may get more bus frequency

I just received email, Greenway is releasing its second phase very soon...
 
It's 10 years since I last visited Sydney. I remember Marsden Park as an intersection with a servo when I was a kid. One or 2 houses in bushland nearby. I guess it looks a lot different now.
 
I visited Marsden Park yesterday and Greenway is releasing its second phase very soon.

The land price is gone up by $20k compare to its first release. I was surprised how come !!!! but the fact is the first release was bit reasonable cheaper.. There are another 500 house and land package will release over a period of TWO years.
 
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