Bowen Basin QLD Mining Towns – Opinion on offer

Hi Max – I know a builder (that I have used) based in Moranbah that will travel to Dysart – Private Message me and I will send you his info – I have a friend who recommended a Dysart based builder (have not used him yet) but happy to send you his details also

Hi Elvisfan,

Bowen is a town 100km approx north of Mackay, this is where a some of the new port action. its had a lot of false starts so to speak. There is a LOT of vacant land in Bowen that people just cant sell. I would be surprised if there are good solid long term opportunities there.

The Bowen Basin is completely different. It starts south west of Mackay and runs down to Emerald, Central QLD. This is where the majority of Coal mining action is.

Bowen and the Bowen Basin are very separate places and very different property markets.

Thanks a lot. I’ve now got my bearings.

Due to the article also posted above. What’s wrong with Bowen as a place to start to create interest for housing?
Especially if things are earmarked for what’s in the article.

Has Bowen not got much in the town? Seeing as theres all this available cheap land would it not in the near future have expedient growth due to the expansions going on?

What’s you’re opinion on why Bowen can’t quite make it.
I’ve never been up that way, so I have no idea.

Cheers.

hey guys

i’m considering buying this unit in Dysart, i have heard that this unit, or maybe something like it, was going for cheaper in the local newspaper.

http://www.realestate.com.au/property-apartment-qld-dysart-107626389

Hey guys,
Interesting.  There are a set of identical units just being finished near the local shops.  I bought one off the plan.  The downside (don't laugh too much) is they are now TWO YEARS past their original completion date.  They were due for completion late 2009.  The builder went bust not long ago, and the construction was taken over by another mob just this month.  The only upside is that I paid (deposit on) $374k, and the already signed lease is for $1000/wk.

Dysart is still going gangbusters, but buy one of these with a huge grain of salt about the completion date.  Huge.

Carla may well be right, I am just going on what we have 'enjoyed'.  Monthly updates of 'just one more month, due to (insert lame reason here)'.  I recognised the pictures of the plan on her website as the same as the ones we bought.  The two developments appear to be back-to-back on to Queen Elizabeth Drive bordering the shops I mentioned.  Send the plans if you wish, and I can send you some pics of the building site, due for completion… next month.

you can throw any verbal completion dates down the drain and look at the contract of sale for an off the plan project. this will tell you when the project must be completed by, and if not you have the right to terminate. developers need pre-sales to start in most cases, this,along with raising funds as well as everyone getting there act together can take time. a lot of time!

I would suggest something more “immediate” that capital gains can be realized sooner especially when investing in mining regions. this will help you grow your portfolio more quickly as having commited to buy to an off the plan project will reduce your borrowing capacity until it is completed. unless you have full knowledge and confidence in the builder/developer. I would be asking for a project timeline and the builders AND Developers track record. then doing appropriate searches for previous projects they are claiming to be done. this can include RPDATA searches showing when a block was purchased through to final sales. also find out what agents sold their last developments and talk to them to get their opinion on there past experience with the developer.

yeah i hope so.  also is that your Lambo?

Not that lucky to throw away$200k on a Lambo yet, she's just a dream car…

shoooshoo wrote:

Prattman77 wrote:

Carla may well be right, I am just going on what we have 'enjoyed'.  Monthly updates of 'just one more month, due to (insert lame reason here)'.  I recognised the pictures of the plan on her website as the same as the ones we bought.  The two developments appear to be back-to-back on to Queen Elizabeth Drive bordering the shops I mentioned.  Send the plans if you wish, and I can send you some pics of the building site, due for completion… next month.

i have sent you a PM with my email. how is it that you got a lease for 2 years, before it even finishes?

Shoooshoo, these units that you are looking at are different to the ones into which Prattman77 bought.  We have 2 shopping centres in town, one is Jacaranda Court around which have been built the units that Prattman77 bought and the other shopping centre is Garden Plaza Shopping Centre where your units of interest are going to be built.  These shopping centres are approx 500m apart so certainly not back-to-back and are definitely owned by different people.  The "Jacaranda Court" units had some delays with council as certain DA conditions weren't followed and they were also delayed a good 4-5 months with our wet season which came early and lasted a long time this year.  The "Garden Plaza Shopping Centre" units, I believe, will be pushed along a little faster, particularly by council, as my understanding of the DA is that they can build a first stage of units, they then have to do a cosmetic reno of the shopping centre, they can then build a second stage of units and then have to do a major reno and expansion of the centre – which is where the $40mil mentioned in Carla's ad comes into it.  The whole of the town, council and BMA included, is screaming out for this shopping centre to be reno'd/upgraded so the owners will be feeling some pressure to expedite building.

I have lived in Dysart for over 30 years and therefore have ridden many highs and lows and one thing I can say is that yes, the mining industry is cyclical, as all markets are, but every time we have come from a low to a high, that high is greater than the previous one and with each high comes the need for additional housing.

Hope this clears things up a little.

Cheers

Lisa