NOOSA INVESTMENTS

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From: Franky Psuedo


Can anyone help me with an investment I'm cosidering in Noosa. It is a new resort with a conference centre,gym,pool,etc,etc. There are 60 1 bedroom apartments ranging from mid 300's to low 400's.

They are 1 bedroom, and the owner/developer is holding on to about 30.


There is a guaranteed return of 6% net yield for first 3 years, with option for management of resort to give a further 3 years with increased return to 8%.



Any ideas?

 

[Dean]

Reply: 1
From: Mike Farmer


Frank,
yes we too inspected this site. Noosa Blue.
Too expensive. Have you actually inspected them? Very cluttered complex. Too much future competition. Our opinion and given advice is purchase a house over units. Try Sunrise Beach, Perigian, Marcus Beach. We have lived in Noosa for 8 years, studied the market and know of many units still for sale 6-8 months later and low returns. Forget the Holiday letting scenario and go for permanent rental. No obligation, just some friendly advice.