Red-hot Moranbah tops rental yield lists

While summer is in full swing across the state, the North Queensland community of Moranbah has been hotter than hot for some time...amongst property investors, that is.

The town, located 200km southwest of Mackay, has seen its property market boom exponentially in recent years, due largely to its location near 20 centres of coal mining activity.

Now, Moranbah has topped the latest list of 40 localities with the highest rental yields for houses in Queensland[1].

“There’s never been a better time to invest in Moranbah,” noted Jason Kollyani, Sales and Marketing Manager for Reed Property Group, developers of Moranbah’s Ludwig Apartments.

Kollyani also cited news of a recent Brisbane conference of mining industry giants and stockbrokers alike. The message to investors was clear: Coal is again king.

GVK Hancock Coal’s chief development officer, Justin Crotty, cited demand for 43 million tonnes, what he called “…a good indicator that (buyers) have confidence in coal.[2]"

Kollyani pointed to recent population statistics as further reinforcement that Moranbah was on the move: in 2010, the estimated resident census of Moranbah was 8,500 – with an added populace of nearly 3,000 non-residents / fly in, fly out workers.

Purpose-built, modern accommodation in Moranbah

In the heart of burgeoning Moranbah is the distinctive Ludwig Apartments development. The complex, born out of the extreme shortage of local accommodation, is unique in that it was purposefully designed for the needs of mining employees and supporting industries.

Ideally located near the town centre and its many amenities, from sport facilities to shopping and dining, the Ludwig development ticks all of the boxes sought for modern, well-appointed living. 

Construction milestones achieved

Construction of the 30 modern apartments is underway and nearing its expected July 2013 completion date.

“We’re pleased that the Ludwig’s construction schedule is on track, but doubly so that we’ve achieved significant milestones over the past couple of months,” Mr Kollyani said.

“These milestones include critical first steps, such as the finalisation of all construction approvals, demolition and removal of an existing old house and business on the site, and completion of bulk earthworks.”

Since those major undertakings, the developers have also fitted out the complex’s preliminary plumbing, constructed pad footings, affixed reinforcement steel and installed concrete columns. The ground floor commercial tenancy structural perimeter is well advanced and first floor slabs are currently being formed in preparation for an imminent pour.

Mr Kollanyi said Reed Property Group was committed to using local suppliers where possible and employing contractors living locally or based in central Queensland.

“We expect that construction of the Moranbah development will inject approximately $10 million of immediate expenditure into the local economy.”

Amenities galore

From Ludwig’s contemporary façade to its modern interior architecture, the apartments offer life’s luxuries. Residents will enjoy full air conditioning throughout, data cabling, built-in robes, sought-after stainless steel appliances and a car park on title.

Ludwig Apartments will offer a new standard of apartment living in keeping with modern development in the Bacon Street enclave that has changed the nature of comfortable, low maintenance living in Moranbah.

All of the self-contained apartments feature two bedrooms and two bathrooms, as well as an outdoor private balcony that extends the living area.

A ground level commercial/retail tenancy enjoying high street front exposure is included and the developer is actively seeking a business that will complement the project offering and enhance the mix of new development in Bacon Street that is transforming the inner town area.

Ludwig Apartments is located at 11 Bacon Street, Moranbah.  Just two apartments remain and are priced at $519,500.

For information regarding the development, contact Jason Kollanyi on (07) 5479 4444.

// Ends.

Contact: Maya Gurry – Fresh PR and Marketing    

Mob: 0410 109 102         Email: maya@freshprm.com.au

[1] Source: RP Data, November 2012. For more: http://www.propertyobserver.com.au/data/suburb/moranbah-qld 

[2] Source: The Satellite. For more: http://www.thesatellite.com.au/news/expert-predicts-price-coal-rise-strong-demand/1632982/