Hi there,
Just returned home from a two week business trip to the WA Goldfields.
Kambalda is expanding. For those who know the area the old drive in site is about to be developed into housing lots. The feasiblity is coming between $80K – $100K per block. There will be an extension to the Kambalda Village financed by Mincor of 90 extra rooms, the pub will create another 108 rooms and the caravan park is creating another 200 rooms. this is to house 450 new workers from mincor, Consolidated Nickel, Sally Malay and Goldfields. They expect about 10% to go residental intially. There are 31 homes on the market and a further 9 for rent currently. Prices are $225K average for a house in west rents for about $300 – $450 per week. Duplex half in west worth about $200K rents for $320 per week fully furnished. The East homes are worth on average @ $180K and rent for about $220 per week. Take into consideration extra exporation and the new $17m rec centre and extra businesses setting up in town it's worth a look. I am not endorsing kambalda but i am investing there and have done for two years……….make your own mind up…she's just about to explode again (my opinion only!!!!!!!!!!!!)
Cheers
Mikey PSorry forgot to add i will be off to South Australia on 27th July for 4 days to buy some Real Estate with 8 other investors. We've done our homework there and I'm as excited about that place as much as Kambalda. I will post any findings when I get back.
Cheers
Mikey P
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