I am currently considering investing in vacant land between in North Queensland between Forrest Beach and Lucinda. This area is just over an hour’s north of Townsville. At present 2000sqM blocks in an estate, just a few hundred metres back from the beach are selling for around $120 000 – $130 000. I would like to hear some feedback from other investors what they think of this area and its future potential growth.
Regards
dicko1980Hi Dicko1980,
As a speculative investment I believe the growth will be there in the long term. Having livved in Townsville for the last 12 months I have watched the prices of land just south of where you are referring to in the Bushland Beach, Balgal Beach areas skyrocket to over $300,000 for the good blocks not far from the water.
The only problem with these two areas is low tide – where you get a lovely kilometre or so of mud to look at. At Forrest Beach the sand is white and the water does not disappear due to tide.
The Hinchinbrook Council is mooting the development of a town centre in Forrest Beach and the local community support for this development will see it go ahead in the fullness of time. Check out their website for details. There is a new small shopping centre going in in Forrest Beach (an IGA I believe) so things are on the up and up IMHO.
I will declare my interest as I do own land in the area – 150m from the waters edge.
Hinchinbrook island is only a 10min boat trip from Luncinda – its world heritage listed and is one of the truly untouched regions still left on the east coast. Orpheus Island is only 10km offshore from Forrest Beach and if the local talk of a jetty being constructed to allow tourist operators to the Palm Island group to operate more efficiently then I think the outlook is positive.
Now the downside – it is still a sleepy little area. It will take time for it to be properley discovered. In my opinion there is a glut of land being sold at the moment which is constraining values. It is actually being developed by an old Broncos player – his name escapes me.
My 2 cents anyway …. the choice obviously is yours.
Cheers
RyanThanks for the reply Ryan. The main developer in the area is a retired Bronco’s player, Brett Plowman.
just got to weather the cyclones in that area.cheers[blink]
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