A few members of our UAE team recently made the 14-hour flight down to Australia for a first-hand look at some of our recent and forthcoming projects in Brisbane. Take a look below for some personal insight they picked up while on the ground Down Under.
ROOM FOR GROWTH STANDS OUT AMID BRISBANE REGENERATION
Dealing heavily with the Australian expat community in Dubai and Abu Dhabi, Australian property has always been of distinct interest to my clients, so I’ve been looking forward to visiting a city in which IP Global has recently identified some excellent investment opportunities.
We arrived in Brisbane and were met by our contact at Metro Property Development, then commenced our tour of the city. Brisbane is a much smaller city than Australia’s two major hubs in Sydney and Melbourne, but what immediately struck me was the growth potential this market has. From a value perspective, there is probably little else to compare it to as prices have not risen significantly over the last five years. Given the amount of jobs currently being created however, the supply and demand statistics now appear to be heavily in favour of sustained growth.
What became most apparent during the tour was that the area Metro have identified as having the most potential, Fortitude Valley and the Gasworks precinct, is ripe for growth. These are locations which are going through an enormous level of regeneration and seeing both private and government investment. Notable companies such as the Bank of Queensland, Energex and Virgin Australia are all moving into the neighbourhood and creating thousands of new local jobs. The Newstead Towers site in the heart of this area is in the perfect position to take advantage of this demand.
A COMPREHENSIVE INVESTMENT CASE BASED ON STRONG FUNDAMENTALS
After arriving in Brisbane on the Friday, we met with Andrew Coulter of Metro Property Development,
our primary Investment Sales Manager contact in Brisbane, for a short briefing on the agenda for the day. We then had a very informative session with Jonathan Rivero, Associate Director with Urbis, a consulting firm who provide services in market research, town planning, design, property, social planning and economics.
WE GOT A REAL FEEL FOR THE DRIVERS OF POTENTIAL INVESTMENT AND RETURNS IN BRISBANEShane Marioni, Senior Consultant, IP Global
Jonathan provided a great insight into the Brisbane property market, discussing demographics,
consumer demand, infrastructure, economic fundamentals and trends. The information gathered from this session should prove a valuable aid to us in informing clients about the Brisbane market. We then had lunch with Andrew and Brendan Tuit, General Manager for Sales for Metro, and got a real feel for the drivers of potential investment and returns in Brisbane, as well as some background on Metro’s history and success stories in Brisbane.
The afternoon involved a tour of the city, looking at the sites of previous, current and future Metro projects in the Fortitude Valley area, including Newstead Towers, Brooklyn on Brookes, Central Village, the Chelsea and Madison Heights, as well as Broadway on Ann, a previous IP Global project from late last year where construction has just begun. A show flat we looked at in the Chelsea aptly demonstrated the quality of the builds and finishes that Metro guarantee, while we also visited an up-market future site called Kangaroo Point, located south of the river. In the evening we met up with Andrew, Brendan and Dan Hillier, another Investment Sales Manager, for a great end to an excellent day in Brisbane.
STRONG DEMAND IN NEWSTEAD BODES WELL FOR INVESTORS
THIS IS AN AREA OFFERING STRONG INVESTMENT POTENTIAL OVER THE NEXT DECADE AND BEYONDMartin Schiodtz, Senior Consultant, IP Global
First of all, I was very impressed with Metro Properties and their professionalism during our visit. Their analytic approach, using market data from Urbis, ensures they pick the right locations for their developments, as well as ensuring the unit sizes correspond to demand in the area. On the first day of our trip we were taken to see a recently completed development of theirs in Brisbane that was of great quality and really gave us a good feel for the standard of their deliveries.
Newstead is perfectly located in the Brisbane’s new Gasworks commercial and retail hub. It is easy to see that the demand for properties there is way higher than the actual supply. I have come back from this trip very convinced that this is an area offering strong investment potential over the next decade and beyond.
If you’d like to know more about the excellent market situation in Brisbane, take a look at our recent , or feel free to contact one of our Consultants for some more first-hand insight.