Battler suburb Lawnton is on the verge of an investment boom triggered by the new university at Petrie
An unlikely suburb north of Brisbane is on the verge of a massive real estate boom as investors and developers hover. But can the community cope with such a big change?
Moreton
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THE battler suburb of Lawnton could become unrecognisable over the next decade or so as investors and developers hover.
Construction of the USC Moreton Bay campus with it capacity for up to 10,000 students over the next decade has triggered a land grab in Petrie and surrounding suburbs.
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Lawnton is well positioned to soak up new investment, having a significant number of large residential lots within walking distance to the train station.
Recently, a 12-unit apartment building was built at 738 Gympie Road and another seven-story building has been approved at 2 Gardiner Street.
A multistorey student accommodation building housing up to 180 students has also been proposed at 16-18 Todds Rd.
Mark Rumsey from David Deane Real Estate said there was an enormous number of investors inquiring about residential housing in the suburb.
“The demographic of Lawnton could change completely. It’s going to huge,” he said.
“Investors are after properties they can put granny flats on or that have the zoning to allow next generation (small lot) subdivisions.
“A local investor has just bought a 1000 sqm block at 9 Bray Rd which is gazetted for a 27m high building.
“Small acreages are being integrated into larger developments.
As well as the new apartment buildings, a massive housing development on Lawnton Pocket Rd will soon hit the market, adding hundreds of new residents to the suburb.
The latest stage in the nearby Rivers Edge estate on Todds Rd sold out in a week and a half.
“It’s very quickly changing the landscape in Lawnton,” Mr Rumsey said.
Karen Pieterse from Ray White said they had buyers agents and interstate developers just waiting for land become available.
“There’re a lot of buyers from Melbourne to Sydney,” she said.
“Basically they want two or three blocks side-by-side that can be developed into apartments.
“Kallangur is on the radar as well. Anything along that rail corridor near Petrie that have bigger height limits.
Sue Seivers from Total Real Estate in Lawnton said the biggest problem with all this new investment will be the road infrastructure, which was not good enough to manage such a large influx of people.
“Roads are something that no one is thinking of,” she said.
“People are all talking about money but no one is talking about roads.
“For every new unit occupied, that is at least one extra car on the road.”