Bundaberg site banks on residential revival
Predictions of an improved Bundaberg residential market has hopes high for a large-scale development opportunity on the outskirts of the city.
The approximately 29.5ha site at 28–54 Ashfield Rd, Kalkie, is located in the eastern growth corridor of Bundaberg, in Queensland’s Wide Bay region, about 5.8km from the Bundaberg CBD.
Andrew Burke, associate director of Ray White Special Projects – Queensland, says the Bundaberg region is set to benefit from a number of key commercial, retail and industrial projects.
“These projects have the potential to provide an increase in demand for residential housing and associated activities in the Bundaberg region in the future,” Burke says.
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“In addition, the Bundaberg Regional Council has been very proactive in their efforts to attract investment and development activity into the region, recognising the longer-term benefits that can be provided to the local economy.”
Ray White Special Projects – Queensland executive director Mark Creevey says the 28.5km Bundaberg Port Gas Pipeline is among the projects boosting economic activity in the region.
As these developments move forward confidence in the market should lift throughout 2016
“The pipeline will support the development of the new $70 million Knauf Plasterboard facility and create opportunity for other substantial investment in business and industry in the Bundaberg Port precinct,” Creevey says.
“Other key projects include the Kepnock Central Shopping Centre, which will feature a supermarket, a discount department store, petrol station, food court and series of retail outlets alongside the existing Aldi Supermarket.”
Herron Todd White has recently placed Bundaberg’s residential market at the bottom of the cycle but says confidence should lift throughout 2016.
The property valuation and advisory group says in its June review: “The residential market for houses and units has remained steady and consistent over the past six months with overall confidence being subdued”.
The Bundaberg Regional Council has been very proactive in their efforts to attract investment and development activity into the region
“There are a few major upcoming developments in the pipeline, including commercial and residential developments, along with the waste water treatment plant and plasterboard manufacturing plant at the port.
“As these developments move forward confidence in the market should lift throughout 2016.”
The cleared and level parcel of land at 28–54 Ashfield Rd is adjacent to high quality residential estates and close to local schools and shopping centres.
The property is to be sold via an expressions of interest campaign that closes at 4pm on July 27.
