Gladstone, as solid as Stone
Stone Apartments, Gladstone, has recently been released to the market offering 16 executive-style two bedroom apartments from $535,000. With 7 of the 16 residences already snapped up by savvy investors and owner-occupiers, Stone Apartments is looking to meet the standard trend in this mining region, with a strong sales rate.
Honi Pietropaolo of Which Property says “There is a chronic housing shortage in Gladstone due to the region securing over $77 billion in mining projects and major infrastructure upgrades which are either underway or in the pipeline. Gladstone is one of Australia’s most exciting mining locations offering investors a balanced economy reliant on a diverse range of resources including coal, liquefied natural gas and nickel.”
The pace of the Gladstone property market is set to continue with a projected 6000 fly-in, fly-out workers set to be operating in the city by mid-2013. With 2300 currently operating (May 2012), this will place greater pressure on the property market, further boosting capital growth and rental returns.
Stone Apartments is positioned well for long-term growth, located in the Gladstone CBD and within walking distance of shops, cafes and restaurants. This boutique style development offers only 16 spacious two bedroom apartments, designed for long term residency and highly demanded by mining executives. Investor enquiry has been strong due to the projected long-term corporate lease returns of approximately 9.8%, as at May 2012 based on current market conditions.
“With settlement anticipated for early/mid 2013, this is a golden opportunity to secure a Gladstone property at today’s price, with a 10% deposit, and settle next year” says Honi.
Ms Honi Pietropaolo
Phone: 0409 935 947