Has any one heard of Penola in SA. There is a $1.5 bn pulp mill coming up in Penola.
Cheers
Cheers
Penola
- Thread starter firstmillion
- Start date
Penola is beautiful country; it has some of the most gorgeous and grand old red gum trees.... had friends down there growing lucerne hay and cattle...also home to the rather nice:
Coonawarra Red.. http://walkabout.com.au/locations/SAPenola.shtml
http://www.penola.org/
Pulp Mill:
http://www.penolapulpmill.com.au/
.....and: *Gateway to 24 sq km of some of the most precious soil in the world, Penola and its vineyard showcase, Coonawarra, are famous for their ‘greats’ - great food, great wine and great Australians.
Great food and wines, of course, are synonymous with the Penola-Coonawarra and the town’s notable citizens have included poets Adam Lindsay Gordon, John Shaw Neilson and Will Ogilvie.
Another illustrious former resident was Sister Mary McKillop, founder of the Josephite Order and short-listed by the Vatican for sainthood.*
http://www.travelmate.com.au/Places/Places.asp?TownName=Penola_\_SA
Even if you never buy property there, it's well worth a visit, at least once in your lifetime..
Coonawarra Red.. http://walkabout.com.au/locations/SAPenola.shtml
http://www.penola.org/
Pulp Mill:
http://www.penolapulpmill.com.au/
.....and: *Gateway to 24 sq km of some of the most precious soil in the world, Penola and its vineyard showcase, Coonawarra, are famous for their ‘greats’ - great food, great wine and great Australians.
Great food and wines, of course, are synonymous with the Penola-Coonawarra and the town’s notable citizens have included poets Adam Lindsay Gordon, John Shaw Neilson and Will Ogilvie.
Another illustrious former resident was Sister Mary McKillop, founder of the Josephite Order and short-listed by the Vatican for sainthood.*
http://www.travelmate.com.au/Places/Places.asp?TownName=Penola_\_SA
Even if you never buy property there, it's well worth a visit, at least once in your lifetime..
The place looks interesting..is it worth buying an IP there ? Considering there is a big paper pulp mill with environmental sustainability being built there. I hv no idea what significance this brings to investing in an IP, still mentioned it as the people i had met were gung hoo about it. 
Cheers
Cheers
Well, were you buy is up to you and if figures and stuff all stack up for your requirements.
Some of the long term growth figures for places around Penola are relatively solid; they are all Victorian figures, sorry don't have SA Valuer-General Stats...
Hamilton: 1994 Median House Price: $67,500..............2004: MHP $175,500.............Change: 160%
The area is doing well despite pulp mill, meaning it's prime land, it also isn't that far from the coast, it's relatively close to beautiful Mt Gambier...the only reason my friends left Penola was because one of them died.
Casterton: 1994: $50,000...................2004: $90,000...........80%
Coleraine: 1994: $30,000....................2004: $70,000..........133%
Would I be prepared to buy an IP in Penola; you betcha, have a stash of IP's in rural Victoria....ticking over very nicely.....if I didn't live 4 hours away from it, (meaning Penola) I would certainly be looking at any town/rural city around me, as long as I could do LMI..
Some of the long term growth figures for places around Penola are relatively solid; they are all Victorian figures, sorry don't have SA Valuer-General Stats...
Hamilton: 1994 Median House Price: $67,500..............2004: MHP $175,500.............Change: 160%
The area is doing well despite pulp mill, meaning it's prime land, it also isn't that far from the coast, it's relatively close to beautiful Mt Gambier...the only reason my friends left Penola was because one of them died.
Casterton: 1994: $50,000...................2004: $90,000...........80%
Coleraine: 1994: $30,000....................2004: $70,000..........133%
Would I be prepared to buy an IP in Penola; you betcha, have a stash of IP's in rural Victoria....ticking over very nicely.....if I didn't live 4 hours away from it, (meaning Penola) I would certainly be looking at any town/rural city around me, as long as I could do LMI..
Hi 1st Mill
The Penola Pulpmill bill got thru the lower house on Tues and is expected to get thru upper house in a few weeks time according to an email I received from a MP.
Naracoorte,Millicent and Mt Gambier are all about 30min away so they should all do good with the expected 1350 workers should the Mill go ahead.
If you are prepared to take a pun and put your hand in your pocket have a look at my post in caveat "6 units and a house". Time has all but run out for the other opportunity we had our eyes on and with the news of the Mill we might take it off the market anyway.
Regards Bushy
The Penola Pulpmill bill got thru the lower house on Tues and is expected to get thru upper house in a few weeks time according to an email I received from a MP.
Naracoorte,Millicent and Mt Gambier are all about 30min away so they should all do good with the expected 1350 workers should the Mill go ahead.
If you are prepared to take a pun and put your hand in your pocket have a look at my post in caveat "6 units and a house". Time has all but run out for the other opportunity we had our eyes on and with the news of the Mill we might take it off the market anyway.
Regards Bushy
Can u pls let me knwo abt this post ? Sorry could not find it ?
Did no understand - ' with the news os the mill we might take it off the market'. Were you planning to buy or sell ?
Cheers
Did DD on Penola 6mths ago - no price movement
Hi 1st million,
I flew over to check out Penola six months ago and spent time with the two local agents and visited about 10 houses. Yields are terrible and prices moved about two years ago and have been flat since. Six or so of the properties I looked at are still on the market have their prices have not moved.
That said, I do think the area has potential. I was in Canberra for the Federal Budget and spoke to the local Federal MP and also to one of the advisers for the Federal Minister for Forestry about the mill. Both were positive about it and said it would be approved, provided the plans were in line with the company's "world's best environmental mill" claims. Also called the local Independent state MP and discussed it with him - he's pro mill and pushing it hard.
However, they all told me it wouldn't happen soon due to the say Parliament sits. Probably six months. Well, it's six months now and the special bill (that overrides environmental considerations, sorry Greenies) sounds like it is set to pass.
Key issue will be water - only last week there were news stories about how the wine industry is being devastated by the lack of rain. The mill will need water and also needs a power station.
Still a punt to buy there, though the risks have reduced substantially over the last six months.
The local agents told me that last year a pipeline was built near the town and rents went up 100% for the eight weeks workers were in town. The pulp mill will have a lot of construction workers for 18 months or so and while many will live in Mt Gambier (50kms away), some will stay in Penola. Rents will definitely go up and prices should follow.
Have a detailed presentation pack on Penola if you are serious about checking it out. Happy to share.
Kind regards,
Flynn
[email protected]
Hi 1st million,
I flew over to check out Penola six months ago and spent time with the two local agents and visited about 10 houses. Yields are terrible and prices moved about two years ago and have been flat since. Six or so of the properties I looked at are still on the market have their prices have not moved.
That said, I do think the area has potential. I was in Canberra for the Federal Budget and spoke to the local Federal MP and also to one of the advisers for the Federal Minister for Forestry about the mill. Both were positive about it and said it would be approved, provided the plans were in line with the company's "world's best environmental mill" claims. Also called the local Independent state MP and discussed it with him - he's pro mill and pushing it hard.
However, they all told me it wouldn't happen soon due to the say Parliament sits. Probably six months. Well, it's six months now and the special bill (that overrides environmental considerations, sorry Greenies) sounds like it is set to pass.
Key issue will be water - only last week there were news stories about how the wine industry is being devastated by the lack of rain. The mill will need water and also needs a power station.
Still a punt to buy there, though the risks have reduced substantially over the last six months.
The local agents told me that last year a pipeline was built near the town and rents went up 100% for the eight weeks workers were in town. The pulp mill will have a lot of construction workers for 18 months or so and while many will live in Mt Gambier (50kms away), some will stay in Penola. Rents will definitely go up and prices should follow.
Have a detailed presentation pack on Penola if you are serious about checking it out. Happy to share.
Kind regards,
Flynn
[email protected]
Hi Flynn,
Thanks for the information. I would be interested, pls if u can send me the information.
Cheers
BTW the Border Watch says that the Mill still hasn't got full approval yet. I get t he paper every week since I live in Mt Gambier.
We have a house across the road from us that was let (possibly by the room) to some people from Forestry SA. It's been empty for about 2 - 3 weeks now, but I have to say it could do with a coat of paint on the outside.
We've noticed that certainly when it comes to selling, property doesn't necessarily move that quickly around here.
Regards,
Karen
We have a house across the road from us that was let (possibly by the room) to some people from Forestry SA. It's been empty for about 2 - 3 weeks now, but I have to say it could do with a coat of paint on the outside.
We've noticed that certainly when it comes to selling, property doesn't necessarily move that quickly around here.
Regards,
Karen
The Penola Pulp Mill Bill finally got passed through the Upper House. Details at
http://www.news.com.au/adelaidenow/story/0,22606,22600305-5006301,00.html
Regards Bushy
http://www.news.com.au/adelaidenow/story/0,22606,22600305-5006301,00.html
Regards Bushy
latest API has listed Penola as a growth suburb. Seems like pulp mill will give good growth prospects.
