Thoughts on Regional Vic

Belu said:
Thanks Our Obsession,

Parking in Bendigo CBD is a known issue so this is going to be really great for the trade in the area. In addition the State Trustees being relocation to Bendigo is a great boon for the local economy and represents yet another key investment from the state government in the City.
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Yes.

...and just a bit more news for this region, specifically Kangaroo Flat:

Lansell Plaza $31 million Revamp ABC 27/08/12

The Bendigo council has started assessing a bid for an upgrade worth tens-of-millions of dollars to the Lansell Plaza shopping centre.

The centre's owner, Charter Hall Retail, has published its annual results and the documents reveal it plans to spend $31 million redeveloping the Kangaroo Flat site.

The council's Prue Mansfield says a planning application has been lodged.

She says expansions of supermarkets at Lansell Plaza are among the proposed changes.

"There's some car parking and pedestrian connectivity things that need to improve and they're also proposing to refurbish the facade of the shopping centre," she said.

The planning application is now on public display.

Charter Hall bought Lansell Plaza in January from the Centro Group for $32.5 million.
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Thanks for the update OO!

I was also recently interviewed for the November edition of API - they are doing a bit on Kangaroo Flat and its strong rental returns :)
 
Excerpt only:

...regional Victoria, there was a tightening in the vacancy rate from 2.9 per cent to 2.2 per cent and a small rise in the median rent for a house - from $290 to $300.

Of the larger regional centres:

Geelong has a high vacancy rate of 3.8 per cent. This was down on the 4.7 per cent in July.

In Ballarat there was a minor tightening from 1.9 per cent to 1.5 per cent.

Vacant rental properties continue to be scarce in Bendigo, which posted a vacancy rate of 0.9 per cent, down from 1 per cent in July.
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From:

Vacancy Rates Stable

Great stuff Belu, will ensure I get my copy.
 
Update on Ararat-ABC

The Ararat Rural City Council says the halt of construction on the Ararat Prison has impacted negatively on the economy.

Work on the project stopped in May when the lead builder, St Hilliers Ararat, went into liquidation owing about $25 million....see article
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and:

Ararat Advertiser

ARARAT - Sub contractors owed money after the collapse of the Hopkins Correctional Centre expansion project have now been paid $7.8 million.


The Commonwealth Bank and Bendigo Adelaide Bank entered a new Public Private Partnership with the State Government in August this year and are contracted to deliver the project by the end of 2014.

St Hilliers Ararat, part of the Ageis Consortium originally contracted to build the 350-bed expansion to the prison, which also included the Commonwealth Bank and other Australian and foreign owned companies and banks, went into liquidation in May.

This was followed by the Aegis Consortium being placed into voluntary administration in June, leaving around 400 people out of work and millions of dollars owed to sub contractors from both Ararat and further afield.

Following the announcement of the collapse of both St Hilliers and the Aegis Consortium, Ararat Rural City Council and the Ararat Regional Business Association, backed by the community, mounted a campaign to have all sub contractors paid and works restarted at the prison site, which when complete will provide an extra 150 jobs....see full article.
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Update about Stawell, (Victoria):

Stawell mine closure redundancies

MORE than 45 Stawell Gold Mine employees will be redundant by the end of this month.


Gold mine representatives met union and government representatives yesterday to discuss the way forward as the mine scales down its operations.

The mine’s underground operations are due to be wrapped up by the end of next year...see rest of article.
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I have property in the towns of Camperdown Terang Warrnambool and Mortlake and the whole area is pretty quiet really . The key drivers of growth like new industry and entrepreneurialism are in weak supply and a lot of retirees and people on centre link etc .

Warrnambool would be the pick . A great place to live and bring up a family IMO .

I was talking to a motel owner yesterday in Warrnambool who only had 3 lots of people stay all week ...
 
Update, Wimmera area, Horsham:

Horsham's new $12 million Target store unique design

Excerpt only:

HORSHAM's new $12-million Target store, due to open in May next year, features a design unique in regional Victoria. Target Australia construction project manager Monique Worthy said some aspects of the design had been trialled at Doncaster.

But she said Horsham was 'the first cab off the rank'.

''It's a modern way of shopping,'' she said. ''Shoppers will be drawn into the store on a podium or catwalk.

"The store will be easily accessible for shoppers, with check-outs in different areas in fitting rooms, in children's fitting rooms, at layby, in the entertainment section and at the front of the store.''
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I have no idea what this is?
 
Asphalt batching plant-Burnt Creek Industrial Estate, Horsham

Brief:

A PLAN to set up an asphalt batching plant at Burnt Creek Industrial Estate could create more than 50 jobs.


Ballarat businessman Mark Smithson, the owner of Western Victoria Asphalt, said he had always planned to extend his Ballarat business to the Wimmera.

He has had a $500,000 batching plant sitting in his workshop ready to install at Burnt Creek for the past six months.

"I already have the name and we were always planning to take a plant to Horsham," Mr Smithson said.

"I love Horsham, I love the people and I love the climate."
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