Redcliffe, one of Brisbane’s northern bayside suburbs, will finally get their long awaited train link to the CBD.
In August, it was announced that Thiess, the infrastructure construction firm, had been award the $1.1b contract, slated for completion in 2016. Situated 25km north of Brisbane, the suburb has a coastal feel, with a laid-back lifestyle for its residents. The area appeals to a broad range of residents; retirees looking for a waterfront unit, families for a lifestyle change, young professionals buying into the first home market, all driven by the relatively easy access to the Northern suburbs of Brisbane via the Gateway Link, and the Houghton Highway. The new rail link will further compliment the extensive community focused infrastructure that the local council has been investing in since the early 2000s. When considering Redcliffe, some investors forget the master planned community of North Lakes, located just 10km away with its Westfield shopping centre and direct access to the Bruce Highway.
So what does this new transport corridor mean for the Redcliffe market? Local sales consultants say that the market is already starting to move. Historically, Brisbane has followed the southern markets’ (Sydney, Melbourne) activities, so if the growth experienced in Sydney is anything to look at, combined with the auction clearance rates, Brisbane is set for a much better year. Taking advantage of the low interest rates, investors, along with owner-occupiers, are purchasing with the intent to hold long-term.
NRAS Property Australia has access to the last four NRAS 3 bedroom apartments centrally located within Redcliffe. The boutique complex of 30 has an established sinking fund, on-site building manager and long-term tenants in the NRAS apartments. Each 3 bedroom apartment totals over 160sqm of living and balcony spaces, taking advantage of the sea breezes, and the upper floors having sea aspects. Less than 500m from the Redcliffe beach, shopping, restaurants and cafes, this complex is well located and with the area experiencing a low 1.7% vacancy rate, comes together as a good long term investment.
For further details on the new rail infrastructure project at Redcliffe, look to this months edition of Australian Property Investor.