- Ethan TimorParticipant@ethantimorJoin Date: 2016Post Count: 282
So, they got the DA to build a retirement village adjoining an IP we own.
Great location for it, I guess, being so close to the hospital.
What do you guys reckon, how will this village affect the prices of adjoining properties? Up or down?DeanCollinsParticipant@deancollinsJoin Date: 2015Post Count: 376
probably down as will be oversized….you should offer to sell your block.
This said, depends a lot on design etc. At least it will most likely be nice an quiet and no one will complain about your tenants listening to the TV too loud :)Corey BattParticipant@cjaysaJoin Date: 2012Post Count: 1,010
Depends – can’t see if rising the prices, but likewise a significant downturn in price would be odd, unless it was a real eyesore. A lot of the retirement villages being built now have quality amenities etc, so it may very well just mean the neighbouring area is going to be fully of quiet neat little homes. ;)Ethan TimorParticipant@ethantimorJoin Date: 2016Post Count: 282
Hopefully it will contribute positively to the IP value. The DA states that the cost to dev is over $5m so trust they will build something really nice 😎