New growth pockets

JULY 2010

POPULAR residential and employment pockets in Logan City are fast establishing themselves as serious business hubs as affordability and accessibility drive growth between the two cities of Brisbane and the Gold Coast.

While retail and business precincts such as Springwood, Loganholme and Mt Gravatt have shown high growth over the last few years, it is the western Logan suburbs of Browns Plains, Regents Park and Hillcrest currently driving the renewed interest in the region.

Colliers International director of residential project marketing Ben Langfield, says the key western growth corridor is becoming a popular option due to its proximity to both the Brisbane CBD and the Gold Coast.

He says Browns Plains in particular ‘ticks all the boxes’ for either those entering the market for the first time or investors seeking a solid return.

“Purchasing real estate in Browns Plains is a lifestyle choice and an affordable option, with median prices being substantially lower than within inner-city localities,” says Langfield.

“Residents enjoy close proximity to major shopping centres and quality community amenities such as hospitals and medical centres, quality schools, tertiary campuses and easy access to public transport.”

Browns Plains last recorded median house sale price of $337,500 represents higher value than the $420,000 price tag for a comparable home at Upper Coomera.

As more developers are drawn to its potential, Colliers have a number of new developments underway including The Promenade in Myola Street.

“We have worked very closely with the developer of the project, Partners in Property to plan a secure residential community from just $320,000 – below the average price point for the area - which is attractive to investors and also to first home owners wishing enter the market in style,” says Langfield.

“Construction of the ideally located community is due to commence in August-September 2010, and will comprise 120 distinctively modern town home residences, featuring spacious recreation areas, two pools, integrated barbeque and dining areas and an on-site manager, in a secure gated complex.”

The collection of 120 contemporary, three bedroom-two bathroom townhouse residences is bringing new architectural style through contemporary modern design to Browns Plains.

Located in one of the largest and fastest growing precincts in South East Queensland, The Promenade is gaining momentum with investors looking for opportunities with affordable entry price and low ongoing costs.

The Promenade’s open-plan designed homes feature spacious living environments and modern designs, the security of a gated community and the facilities of an onsite manager.