Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Saturday, 16 May 2015

The cranes of Coorparoo...


No room for sentimentality here, we have a mining capex bust to head off!

And it's see youse later Myer Coorparoo...

This is set to be another major redevelopment project for inner Brisbane. 

On the corner of Cavendish and Old Cleveland this $235 million development will regenerate the run-down building into a new village-style precinct.

It will include a cinema complex and more than 2,000 square metres of restaurants and cafes.

Though it is hard to visualise now, there will also be some 366 residential apartments on the site.

The finished article will look something like this.

This will transform the suburb into a highly desirable one, only 4 kilometres from the CBD with a direct train link.

However, like many inner Brisbane suburbs it seems likely that there will be be a temporary oversupply of apartments.

Good news for house owners in terms of rising prices, but it seems likely that there will be some heavy downward pressure on apartment rents.