The Redcliffe property market is rising due to major transport infrastructure projects improving connectivity to Brisbane and surrounding regions, according to the Real Estate Institute of Queensland Redcliffe Zone Chairperson Andrew Reibelt.
A new $1.15 billion dual-track rail link connecting the Redcliffe Peninsula to the Brisbane CBD, due for completion mid next year, is increasing Redcliffe’s profile as a highly desirable lifestyle suburb.
Redcliffe already has easy access to Brisbane’s domestic and international airports and is located oceanfront mid-way between the Gold Coast and Sunshine Coast.
The rail infrastructure connecting the Redcliffe Peninsula to Brisbane’s extensive Citytrain network has stimulated increased demand in the seaside suburb from both home buyers and investors, reflected by growing interest in luxury oceanfront properties like Kyko Group’s $150 million Mon Komo development.
The award-winning, mixed-use Mon Komo development consists of two towers with residential and short stay apartments, a hotel with bars and dining, a function centre, commercial office suites and retail space.
The rail link adds to the convenience provided by ongoing upgrades to the Gateway Motorway and the Bruce Highway, which link Redcliffe to Brisbane airport, the Gold Coast and the Sunshine Coast.
Many significant benefits come from developing transport infrastructure, according to Real Estate Institute of Queensland Redcliffe Zone Chair Andrew Reibelt.
“Research shows these types of infrastructure improvements translate into higher population growth, greater appeal to tenants, higher rental demand, increased property values and a wider target market from which buyers and renters come,” Mr Reibelt said.
“When you add those infrastructure improvements to an already highly appealing oceanfront location like Redcliffe, the resulting demand and growth is intensified,” he said.
“Redcliffe residents enjoy the luxury of a coastal lifestyle knowing that if they have to commute to Brisbane for business or work they will be able to take the train from mid next year.
“Also with the transformation of the Redcliffe foreshore creating a cosmopolitan village atmosphere, there has been increased interest from both home buyers and investors, resulting in a period of growth in the real estate market.
“The Redcliffe apartment market is rising, with investors attracted by the availability of positively geared investment properties delivering solid rental returns when compared to funds left in bank accounts.
“The Redcliffe region has the tightest rental vacancy rate in the greater Brisbane area, 1.3 per cent, and local agents are seeing consistently strong tenant demand.”
Kyko Group director Bill Jenkings said this growth and demand has resulted in increasing interest in the company’s Mon Komo development at Redcliffe.
“When conducting our feasibility studies we researched upcoming infrastructure works and saw the potential for growth in Redcliffe due to planned development of more transport corridors – which is now being realised,” Mr Jenkings said.
“Redcliffe is ideally located on the beach mid-way between the Gold Coast and Sunshine Coast with convenient access to the heart of Brisbane and nearby airports,” he said.
“The Mon Komo site at Redcliffe was carefully selected to make the most of the area’s natural beauty and coastal lifestyle with easy access to nearby leisure activities, cosmopolitan cafés, stylish restaurants and bars, and boutique shopping.
“Mon Komo’s residential and short stay apartments offer uninterrupted views of the ocean that cannot be built out, fronting onto the newly streetscaped esplanade opposite the Settlement Cove lagoon, amphitheatre and beachfront parkland, a picnic area with barbecues, a basketball court, access to a bike trail and the beach.”
Mon Komo marketing manager and TOTAL Property Group managing director Adrian Parsons said Mon Komo offered home buyers and investors an exceptional opportunity to secure some of the only luxury oceanfront apartments available in Redcliffe.
“A major advantage of buying a new apartment at Mon Komo is the home buyer can move in straight away or the investor can rent it out for an immediate return – there is no wait for the construction of the property,” Mr Parsons said.
“Apartments in Mon Komo’s residential tower are priced from $335,000 for a one bedroom design, with a selection of layouts available up to three bedrooms plus study configurations,” he said.
“Investment apartments in Oaks Mon Komo short-stay apartment tower are priced from $285,000 with an attractive return of 6.3 per cent plus room for capital growth.
“Oaks Mon Komo apartments offer an immediate investment return starting at $345 per week, enviable occupancy rates of 82 per cent, and the additional security of a performance undertaking agreement guaranteeing a return of permanent tenancy rates for the first two years.”
Mon Komo is situated at 99 Marine Parade, Redcliffe, offering one to three bedroom apartments featuring floor to ceiling glass to maximise natural light and ocean views, oversized entertainer balconies seamlessly integrated with spacious open plan layouts, timeless stone and timber finishes, kitchens equipped with European appliances and ample storage space.
Information supplied by Louise Carroll Marketing