Hi everyone,
I am considering an investment property in Morwell VIC to do a little subdivision, and not knowing too much about the area other than what council can tell me, I wondered if anyone has any opinions on this town?
Would i have a problem selling my development once completed? Do things move slowly there sales wise is my main question, but also is there anything i should be concerned about here?
Thank you all in advance!!!!!!!!!!!!!
Hi R.E.Q
From my experience i see the town as a little sleepy.
I had my eye on it in regards to commercial and the one thing that put me off was the amount of vacant commercial shops/office in the main street.
In saying that though i bought commercail propety in another sleepy Vic town near Mildura (+ve geared) and have just sold it and down quite well out of it.
As for residential not to sure, i sugest you pick the REA's brains, and go for drive down there during the week.John
Morwell is a great place to buy bullet-proof IPs that return 6-7%, however, vacant land there is dirt cheap, and I think you would find the cost of doing a subdivision would not be worth your while…..
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