McGrath tips Botany ?

[NIF]

I was browsing through McGrath’s new book today.

In the investing section it has lists of his tips for hot growth suburbs in the main cities. I was surprised to see Botany/Mascot at the top of the list for Sydney.

I guess it would be good for rentals as there are a lot of jobs nearby, but I didn’t think it would be that great for growth with lots of industry & limited public transport.

What do other people think of that area for property investment ?

 

[depreciator]

I'm not surpised to see it tipped as a growth area.
There are some good pockets in Botany. And some particularly ugly bits with heavy transport.
Southern Cross Drive would get you into the city very quickly (out of peak hour).
Foreshore Drive will get you to La Perouse and Botany Bay in 10 minutes at the most.
The beaches (Maroubra) are closer.
There are a couple of golf courses there - including The Lakes.
Brighton'Le-Sands is about a mile away.
Not sure about plane noise. Some suburbs are so close to the airport they ironically escape much of the noise.
People have turned their noses up for years when Botany is mentioned. Yields might be pretty ordinary, but McGrath would be talking about future CG. I reckon it's worth looking at if you can afford the interim holding costs.
Scott

 

[mit]

I used to live in Matraville. There was always in Botany some little pockets of pretty nice areas. North of Foreshore Drive is quite a nice park andI assume that the houses fronting it are worth quite a bit now.

I recently had to catch a bus from Matraville and went through Botany/Mascot/Alexandria and Redfern and was amazed how much of it is now more "trendy" looking. At a glance there may be bargains in between the areas already done up.

MIT

 

[Malu]

Is Botany doing well?

Just though I revive this thread.

Does anyone know if Botany is doing well as predicted?

Went for a drive there and there are some really nice pockets and also nice townhouses around William Street, and nice apartment complex on Morgan St.

Thinking about buying in in the area for around 500K to 600K to live in, but ultimately looking for capital growth.

Any suggestions and advice will be appreciated.

Thanks
Malu

 

[Pandabites]

Hi Malu..have PMed you