Townsville City Councillors Better off Providing Discounts to First Generation Developers

Townsville City Council would serve their community better and leverage rate payer funds more effectively by redirecting money being offered to a City Cinema Developer (see Townsville Bulletin article below) to small and medium size developers because it is more likely a greater short and long term economic benefit would be achieved for the City.

Local Property Investment Consultant and Real Estate Principal, Aaron McLeod said; "Council need to think seriously about turning on small and medium size investors again to the City".

Many small subdivisions and strata developments that were approved before the new Integrated Planning Act was introduced were established by local North Queensland families. This type of small development is now cost prohibitive to local investors. Council has the opportunity to stimulate this market with some initial relief from ridiculous planning and administration costs, Mr McLeod said.

Instead of bowing to large developer’s appealing for reduced planning costs in the City centre where an incentives program already applies of up to 50% on infrastructure charges, the Planning and Development Committee members should seriously question if they are really serving the community interests.

Small to medium size investors have by and large turned off Townsville because of the exorbitant planning costs imposed by State Government and Council red tap to complete suburban subdivisions and community-hub facilities such as local medical practices, corner stores, butchers, bakers and restaurants.

Even the privacy protection legislation is making it more difficult for small investors and developers to simply research investment opportunities in the City, causing many to throw their hands in the air and give up or redirect their attention interstate or overseas.

Just as one example, a local investor and medical practitioner wanted to set up a small psychology practice from an existing residential dwelling, which is located next door to a hotel and across a main road from an existing set of shops neighbouring industrial sheds in a well-established community, and Council planning provided absolutely no encouragement. Not only the investor but the prospective Seller of the residential dwelling is bewildered and frustrated with the system.

These small developments provide direct economic stimulus with construction and operational jobs, but most importantly, it stimulates broader investor confidence and therefore more investor demand for property in the City.

It seems our esteemed Councillors are happy to network and lobby with large corporations in the CBD to facilitate favourable financial outcomes for big business, but they are ignorant to the frustrations and call for help from the network of small to medium size investors local to North Queensland, and the prospective sellers that increasingly under enormous pressure from their banks to sell their properties, simply wanting urgent respite from the intolerable planning and administration fees and charges.

References:

Townsville Bulletin - http://www.townsvillebulletin.com.au/article/2012/11/28/371020_news.html
Rapid Realty Townsville - www.rapidrealty.com.au
MCINC Investments and Consultancy

SOUTH TOWNSVILLE BUYING BONANZA ON EVE OF MARINA DEVELOPMENT

South Townsville's popular Sixth and Seventh Avenues is set to experience a buying bonanza next month as five properties within the precinct of the new South Townsville Village Residental and Marina Development goes under the hammer at auction on 28th April or sold beforehand.

The South Townsville Village Residential and Marina "development would take place on land left vacant by relocation of the marine industries, which presently occupy the site, to the Marine Industries and Boating Facilities Precinct."

"Relocation of these marine industries would become necessary when their ocean access was locked by the Eastern Access Corridor bridge (which is likely to have a low navigational clearance). The concept envisages small lot residential development with emphasis on ready access to the marine environment and to Townsville’s central area." (http://www.deedi.qld.gov.au)

The Sixth, Seventh and Boundary Street properties presents an amazing opportunity for investors and home buyers wanting to establish a property foothold in Townsville's only bayside, riverside and island suburb in which significant capital is being invested by government and commercial enterprises to enhence residental living so close the Townsville City heart.

The strategic location of these properties so close to hotels, resturants, transport, city and port facilities including new cruise ship terminal, Reid Park's V8 Supercar track, cultural precinct and Civic Theatre, schools and shops shines brightly as a beckon to astute buyers in North Queensland, Rapid Realty's Principal Aaron McLeod said.

Detailed information about each property is available on Rapid Realty's website (www.rapidrealty.com.au), South Townsville's only locally run and operated agency.

Rapid Realty Principal, Aaron McLeod