What does everyone think about Wandoan?
- Thread starter lozsta
- Start date
First thoughts: middle of no-where 
Second thoughts after some research: population in 2006 was 656. Double
Then some more research: http://www.wandoancoal.com.au/userf...NCES QLD GROWTH PROJECTS 6 June 2010 11am.pdf
OK so Xstrata is planning a coal mine that will employ 3,000 in the Surat Basin.
I was reading in the latest API mag about Dalby (also Surat Basin catchment area), that has 200 brand new & vacant homes that no-one is renting.
I'll pass. For me this is more of a speculative investment. If I am going to speculate, I'd rather do it in the share market. At least I can get out (at a cost) and have cash in my bank account in 3 days. Not so easy to sell a vacant house in the middle of nowhere if I need to.
Second thoughts after some research: population in 2006 was 656. Double
Then some more research: http://www.wandoancoal.com.au/userf...NCES QLD GROWTH PROJECTS 6 June 2010 11am.pdf
OK so Xstrata is planning a coal mine that will employ 3,000 in the Surat Basin.
I was reading in the latest API mag about Dalby (also Surat Basin catchment area), that has 200 brand new & vacant homes that no-one is renting.
I'll pass. For me this is more of a speculative investment. If I am going to speculate, I'd rather do it in the share market. At least I can get out (at a cost) and have cash in my bank account in 3 days. Not so easy to sell a vacant house in the middle of nowhere if I need to.
Thanks for your reply.. Xstrata are drilling out there currently with exploration works, although this is not the only industry out there. QGC are the ones paying top dollar to fill the newly built motel in Wandoan, and I am assuming that once the Southern Missing Link is started there will be more demand for accommodation. The plant on Curtis Island is soon to be constructed, supplied through the pipes that will run through Wandoan. Also interesting to note that they are currently renting 2bdrm units for $350pw! This is a 12mth contract with QGC. Who are working on a three year contract that started 6mths ago.
Reason for putting this question out there?...
I have just signed a contract on four units in Wandoan. They are currently returning $820pw for three units, there is still one unit available that is kept for casual rentals, it returns around $2000 per fortnight when rented and looking at the other units, which are smaller, this one will be advertised at $450pw.
I am very hopeful that I am right in thinking that yes, it would be great if Xstrata go ahead with the mine, but without it, Wandoan is still going places with QGC.
Reason for putting this question out there?...
I have just signed a contract on four units in Wandoan. They are currently returning $820pw for three units, there is still one unit available that is kept for casual rentals, it returns around $2000 per fortnight when rented and looking at the other units, which are smaller, this one will be advertised at $450pw.
I am very hopeful that I am right in thinking that yes, it would be great if Xstrata go ahead with the mine, but without it, Wandoan is still going places with QGC.
Current unimproved land value for those flats are very cheap at $50K
A small amount of research tells me that the only reason they are priced at 900K is because of the existing lease,if that lease didn't exist you could half that price at least.
If these people on the lease pull out in 12 months the purchase price is totally over priced,
Last sale was in 2007 for 255K and in 2003 for 60K
That's a rise of 645K in three years
Do you believe they are realy worth that.
I would personally look more at Moranbah that at least has a bit of history behind it.
But this is just my opinion
A small amount of research tells me that the only reason they are priced at 900K is because of the existing lease,if that lease didn't exist you could half that price at least.
If these people on the lease pull out in 12 months the purchase price is totally over priced,
Last sale was in 2007 for 255K and in 2003 for 60K
That's a rise of 645K in three years
Do you believe they are realy worth that.
I would personally look more at Moranbah that at least has a bit of history behind it.
But this is just my opinion
Thanks for taking the time painter
A little more research would have shown up the units that I am purchasing, for under 500k...
Could post heaps of links here for Xstrata, Cockatoo Coal, Arrow Energy, QR..
Unimproved land price would be the same,if not less
I just showed you an example of similar units and past prices /sales in the same street,
How would i know which units you are purchasing unless you told me,This is a public forum you know?
I just found one similar to your description,my fault for assuming the ones on the current market were yours in the same small town with same lease similarities.
There is a few there, for sale,
My apologies,
You seem to be on top of things
By the way what is the return?
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Wandoan!!!!!
I have a couple of houses in wandoan and both have been rented within a week of taking them over. A 4 bedroom house is getting $600 per week. Up until recently, QGC and their subcontractors are leasing most of the huses and inits in town. I have been advised that Xstrata are in the process of winding up operations. so there should more properties required by them and their contractors.
Together with the railway from Wandoan to Bannana, the gas pipelines to be built, the water pipeline, the new power station: wandoan has to be looking very good. And the big plus is that there is limited land available.
I have a couple of houses in wandoan and both have been rented within a week of taking them over. A 4 bedroom house is getting $600 per week. Up until recently, QGC and their subcontractors are leasing most of the huses and inits in town. I have been advised that Xstrata are in the process of winding up operations. so there should more properties required by them and their contractors.
Together with the railway from Wandoan to Bannana, the gas pipelines to be built, the water pipeline, the new power station: wandoan has to be looking very good. And the big plus is that there is limited land available.
Green Light for Wandoan Project
Dodgerc and Lozsta.....
This huge (biggest coal mine in southern hemissphere) is now approved. There is also a dam pipeline and a power station going in at Wandoan not to mention all the gas pipelines etc. The last peice of the puzzle to be inserted in the SBJRV "missing link" rail line from there to Moura.
I am now heading out to Wandoan and Dalby, Miles and Chinchilla. I have mates from Moranbah joining me as well and we are going to assess it further. I really belive all the "indicators" are there already.
Only thing was I wasnt sure about how quickly you could get an IP rented as there seems to be quite a few on Real Estate dot com dot au.
Your thoughts???
Dodgerc and Lozsta.....
This huge (biggest coal mine in southern hemissphere) is now approved. There is also a dam pipeline and a power station going in at Wandoan not to mention all the gas pipelines etc. The last peice of the puzzle to be inserted in the SBJRV "missing link" rail line from there to Moura.
I am now heading out to Wandoan and Dalby, Miles and Chinchilla. I have mates from Moranbah joining me as well and we are going to assess it further. I really belive all the "indicators" are there already.
Only thing was I wasnt sure about how quickly you could get an IP rented as there seems to be quite a few on Real Estate dot com dot au.
Your thoughts???
Wondering on the thoughts on Wandoan now - I have an interest in the town, and aware it is still speculation - a quote above stated 'the mine has it's license' - this is not correct - they have their EIS, and the Commonwealth Govenment have also given them a required tick in the same arena - but the mine, as yet, does NOT have license - love to chat with anyone who already has a house there - we are in this together!!
here are the projects in different status going on in the surat basin:
http://www.suratbasincorporation.com.au/major-projects/mining/
Dalby
We have an investment property in Dalby and could easily be one of those homes standing there vacant until the next big demand hits, but ours is furnished, and returning excellent rentals (at one stage we were getting $550 per week, but back down to $400 per week) and we are still doing well on a purchase price of $285,000. For 1 day of slightly hard slog, we hired a truck, went to Super Amart, bought a house full of furniture on interest free terms, took it out, moved it in and there you have it! If you can be bothered - it attracts those workers who want a suitable place to live while working on a project but who don't want to continually live in a motel, or live in a house with just a mattress on the floor. Ours has definitely been a good investment and we intend to keep it long term.
We have an investment property in Dalby and could easily be one of those homes standing there vacant until the next big demand hits, but ours is furnished, and returning excellent rentals (at one stage we were getting $550 per week, but back down to $400 per week) and we are still doing well on a purchase price of $285,000. For 1 day of slightly hard slog, we hired a truck, went to Super Amart, bought a house full of furniture on interest free terms, took it out, moved it in and there you have it! If you can be bothered - it attracts those workers who want a suitable place to live while working on a project but who don't want to continually live in a motel, or live in a house with just a mattress on the floor. Ours has definitely been a good investment and we intend to keep it long term.
Dalby
We have an investment property in Dalby and could easily be one of those homes standing there vacant until the next big demand hits, but ours is furnished, and returning excellent rentals (at one stage we were getting $550 per week, but back down to $400 per week) and we are still doing well on a purchase price of $285,000. For 1 day of slightly hard slog, we hired a truck, went to Super Amart, bought a house full of furniture on interest free terms, took it out, moved it in and there you have it! If you can be bothered - it attracts those workers who want a suitable place to live while working on a project but who don't want to continually live in a motel, or live in a house with just a mattress on the floor. Ours has definitely been a good investment and we intend to keep it long term.
We have an investment property in Dalby and could easily be one of those homes standing there vacant until the next big demand hits, but ours is furnished, and returning excellent rentals (at one stage we were getting $550 per week, but back down to $400 per week) and we are still doing well on a purchase price of $285,000. For 1 day of slightly hard slog, we hired a truck, went to Super Amart, bought a house full of furniture on interest free terms, took it out, moved it in and there you have it! If you can be bothered - it attracts those workers who want a suitable place to live while working on a project but who don't want to continually live in a motel, or live in a house with just a mattress on the floor. Ours has definitely been a good investment and we intend to keep it long term.
Dodgerc and Lozsta.....
This huge (biggest coal mine in southern hemissphere) is now approved. There is also a dam pipeline and a power station going in at Wandoan not to mention all the gas pipelines etc. The last peice of the puzzle to be inserted in the SBJRV "missing link" rail line from there to Moura.
I am now heading out to Wandoan and Dalby, Miles and Chinchilla. I have mates from Moranbah joining me as well and we are going to assess it further. I really belive all the "indicators" are there already.
Only thing was I wasnt sure about how quickly you could get an IP rented as there seems to be quite a few on Real Estate dot com dot au.
Your thoughts???
Hi,
Email dated; 30 August 2011
"Mario,
The project is yet to be granted the full mining lease and final Board approval.
A decision from the land court regarding the lease should be made before december. A decision from the Board is expected prior to the end of the year.
I'm sorry I am unable to provide specific dates at this time.
Regards,
..................xxx"
...........xxx is the Xtrata communication officer.
I would hold my decisions and watch closely Xtrata announcements. Too early to invest in Wandoan unless you can afford tie up unproductive founds for the sake of buying at a bit lower prices in under performing market hoping it all fires up. I would wait for clear signs from the market. ATM vendors dropping prices, hardly anything sells out there. Wandoan will definitely fire up once the will be announcement about final lease approval, short after board decision will be made and announced.
Green light given today for the Xstrata coal mine. What are peoples views on Wandoan as a possible investment now?
Xstrata says the project will create 1,400 jobs during the construction phase and another 900 long-term jobs when operational. Can't find up to date population figures but I think there's around 800 at present.
Xstrata says the project will create 1,400 jobs during the construction phase and another 900 long-term jobs when operational. Can't find up to date population figures but I think there's around 800 at present.
Viability of the project never depended on the court challenge. So the 'green light' is nothing new though it does remove some small legal risk. Approval still hasn't been granted by Campbell Newman.
At the end of the day, the viability of the project depends on ability to source finance, source partners etc. It's a very big investment and will be Australia's biggest mine before Gina, Clive and the Indians get Galilee Basin up. And there are LOTS AND LOTS of bigger hurdles that have nothing to do with government approvals.
FYI I have at various points in time in the past 12 months worked VERY closely on this project on these matters.
At the end of the day, the viability of the project depends on ability to source finance, source partners etc. It's a very big investment and will be Australia's biggest mine before Gina, Clive and the Indians get Galilee Basin up. And there are LOTS AND LOTS of bigger hurdles that have nothing to do with government approvals.
FYI I have at various points in time in the past 12 months worked VERY closely on this project on these matters.
Any updates on Xstrata/Wandoan?
