Townhouse complex in Richlands, QLD

Viewing 5 posts - 1 through 5 (of 5 total)

dtrump
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@dtrump
Join Date: 2010
Post Count: 50
August 19, 2010 - 11:31 am
Hi all,
Appreciate all the useful information on this site, it is a good resource.
Currently looking at different areas in Brisbane for my first IP ($300-350k). There is a complex in Richlands that has 71 new townhouses, I am keen to hear any feedback on the growth potential given all these townhouses look quite similar, are close together in a small streets, etc. It is a strange feeling driving through as everything is same on each street, however apparently style of lviing is the way of the future (?)
Richlands as a suburb has been zoned for medium density residential development and there is a new train station due to finish end of the year making it approx 30min to CBD. Close to forest lake with 4x schools, shops, running tracks, etc.
Seeking any thoughts on townhouse complexes in genernal and/or thoughts on Richlands as a suburb?
http://www.realestate.com.au/property-townhouse-qld-richlands-106697680
Cheers.
dtrump
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
August 19, 2010 - 12:29 pm
Too many units in the one complex for my liking. There's 71 townhouses that are all the same – you can't really make yours any different (which may impact on future demand). You might also find yourself competing for tenants, what if a few other townhouses within the same complex are being rented out at the same time?
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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Matt007
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@matt007
Join Date: 2008
Post Count: 259
August 20, 2010 - 3:55 am
There's another one at Redbank Plains called Amarco. Last I spoke to the developer there are 3 left, within your price range ($320K from memory). If you want more info email me: [email protected] and I can put you in touch with him.
To confirm I have no financial interest in the project, its a good mate of mine.
Cheers
Matt.
dtrump
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@dtrump
Join Date: 2010
Post Count: 50
August 22, 2010 - 5:19 am
Jamie M wrote:
Too many units in the one complex for my liking.
Good point, and also if there is going to be re-development i can imagine a there will be quite a few more to come. Would you think that more development would put a stint on any capital growth?
dtrump
Participant
@dtrump
Join Date: 2010
Post Count: 50
August 22, 2010 - 5:21 am
Matt007 wrote:
There's another one at Redbank Plains called Amarco. Matt.
Cheers, but Redbank is a little too far out for my liking, Thanks.