Four developers will break ground on south-east Queensland’s newest regional city, the 3,156ha Caboolture West, in the next month.
Lennium Property, Orchard Property Group, Baycrown Property Group, and Avid Property Group collectively will deliver 2000 parcels of land in one of the region’s biggest future communities.
In the next 40 years, Caboolture West will accommodate about 70,000 residents and 30,000 homes.
What is included in this first stage?
The four new residential communities will feature a mix of affordable land lots, turnkey homes, and house and land packages, on blocks of 300 to 600 sqm.
The first neighbourhood display village, at the entrance to the new master planned precinct, is expected to open mid- 2025, with civil construction works due to begin in October.
Caboolture West is slated to play a significant role in addressing population growth in the Moreton Bay region, which is forecast to grow to 690,000 residents—an additional 200,000+ residents—by 2042.
This announcement further bolsters the confidence businesses in the building supplies and trade service industries already have in this region.
What is NOT included in this first stage?
There is NO portion of this first release dedicated to delivering commercial or industrial property of any nature. In fact, the whole of Caboolture West has only one property earmarked for industrial use, and the sequencing
of infrastructure delivery means this will likely be one of the last parcels to come online.
The $44 million revitalisation of Caboolture CBD by Moreton Bay City Council will help meet the growing demand for commercial space resulting from the influx of residents into the first stage of Caboolture West.
Caboolture and North Moreton Bay will now be one of the fastest growing regions in Australia for the foreseeable future. This means Caboolture should be on the radar of every commercial property investor interested in sustained growth.
We have identified three clear reasons why the fast tracking of the first 2,000 lots in the Caboolture West masterplan will turbo charge the Caboolture CBD property market.
1. Council CBD Revitalisation Commitment
The Moreton Bay City Council has committed $44 million over the next five years to “reimagine” the Caboolture CBD. The twelve projects are designed to improve connectivity, amenity and functionality of the whole CBD area, which will benefit all existing tenancies. This will be magnified by the ongoing private investment into high density affordable housing around the CBD.
2. Commercial Supply constraints
Being purely residential, no portion of the first Caboolture West release will provide any relief to the already constrained commercial land supply in the region. Businesses looking to capitalise on the booming population
of the region will need to jockey for position on King Street or the surrounding back streets of the existing Caboolture CBD.
3. Competitive Advantage
Even when future commercial centres are delivered, the cost of construction and access to key transport infrastructure will make it difficult for new developments to compete with existing Caboolture CBD buildings purchased at today’s rates. King Street will benefit from being one of the major feeder roads for Caboolture West and the Caboolture train station will remain the primary transportation hub for the region.
As leading commercial agents for the area, we’re uniquely positioned to understand new and emerging markets. Contact us today to find out more about how you could take advantage of this growing market and
the investment opportunities we have available.