OCEANFRONT PROJECT NEARS COMPLETION
WEST Australian investors have swooped on some of the last remaining apartments in Yeppoon’s $35 million Oshen development as the oceanfront project nears completion.
Developer Concept Living Properties (CLP) has chalked up $4.5m in sales in the past three months, including five sales to the tune of $2.1m made to resources-industry workers from Western Australia.
Project marketing agent Ross O’Reilly said the buyers had all witnessed property values grow in their own mining industrydriven home towns and saw significant growth potential in central Queensland.
He said they saw strength in the region’s broadbased economy, driven by multiple pillars of growth, including resources, tourism, education, construction, armed forces and agricultural sectors.
“Astute investors have identified tremendous upside in the region and this has galvanised them into action,” Mr O’Reilly said.
“A host of major projects, including the $600m redevelopment of Great Keppel Island, has shone the spotlight on the region and greatly enhanced its national profile.”
Mr O’Reilly said the lack of quality accommodation in sought-after areas such as the Capricorn Coast had reinforced many investors’ decision to move forward with a purchase.
“The Capricorn Coast has, for some time, been faced with a lack of stock coming online to meet the demands of the region’s rapidly growing population,” Mr O’Reilly said.
“In Yeppoon, the population is rising at a rate of 3.8 per cent annually, double the Queensland average.
“Sales at Oshen have been greatly helped along by the fact it has been the first apartment project to come out of the ground in Yeppoon since 2009.
“Nowthat the building is rising, buyers know the project will be delivered and they have the certainty of a fixed construction timeline.”
The recent sales run included a mix of one, two and threebedroom apartments, all with sweeping ocean views to Great Keppel Island and beyond.
The influx of resources-industry investors at Oshen follows the announcement Central Queensland University will merge with Central Queensland TAFE in January next year.
The move means access to qualifications and further study for resources-sectorworkers in the region will become more readily available.
With Oshen’s sales tally now more than $24m, only limited one, two and three-bedroom apartments remain, with onebedroom apartments from $329,000 and two-bedroom options from$589,000.
When complete, Oshen will feature business facilities, as well as a pool, barbecue area and on-site management.