Armidale

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Investors continue to under-rate and overlook regional Australia despite the appeal of what’s on offer for those who select well and invest intelligently.
There’s a strong inclination to cling to the capital cities, perhaps unsurprising when research sources publish comparisons with a single growth figure to describe the eight capital cities (inflated by Sydney’s growth figure, also inflated) and a single number to describe the vastness that is regional Australia.
The lone figure for regional Australia is always lower, dragged down by all those cities and towns undermined by the decline in the resources sector or drought or some other periodic affliction.
But the best of regional Australia provides one of real estate’s win-win-win situations: lower prices, better yields and strong prospects for capital gains.
Many of the regional centres with the best appeal are places most investors would never consider – or have even heard of.
Armidale in regional New South Wales is a good case study. It features in the new 2017 edition of the National Top 5 Cheapies With Prospects: Regional Edition for multiple reasons. A diverse economy sustained by education, tourism and agriculture is a big factor, as is the support of Deputy Prime Minister Barnaby Joyce, the local Member.
The city’s prospects are being boosted by upgrades to the airport and hospital, the possibility of a major solar farm, touted as being the largest solar farm in New South Wales, and a wind farm development.
There is also the plan for a government department currently based in Canberra being relocated to the township.
Located on the New England Highway inland from Coffs Harbour and with regular train services and daily flights to Sydney, Armidale has good connectivity for both freight and passengers.
In addition to its rural roots, Armidale is a significant education centre. The New England University College began life as a College of the University of Sydney in 1938 - the first Australian university established outside a state capital city. The University of New England now has campuses at Armidale, Lismore and Orange, catering for 22,000 students.
The prominence of the education sector has created a wider range of jobs and business opportunities than normally would be found in a regional location.
Tourism and hospitality play a vital role in the local economy, contributing $92 million in sales in 2015, when 181,000 visitor-nights were recorded by Tourism Research Australia. Canyoning, mountain biking, bird watching, trout fishing and other outdoor adventures attract visitors. There are also spectacular waterfalls, gorges, world-heritage national parks, cool-climate vineyards, music festivals and art exhibitions. 
Armidale has not lost its agricultural roots; rural land is used largely for sheep and cattle grazing, with some fruit-growing and viticulture. Sheep and cattle are sold each week at the Armidale Saleyards and around 1.8 million beasts are slaughtered each year. The sheep, beef cattle and grain farming industries employ about 10% of the population.
The region is serviced by the Armidale Hospital - a public hospital which is currently undergoing an upgrade.
The Metz Solar Farm, declared a “state significant project” because of its size, reportedly would be the largest solar development in NSW. Proprietor Infinergy has negotiated a 30-year lease for the land – a 950ha selection. This project would generate 150 construction jobs.
Other infrastructure improvements which will give Armidale a boost include upgrades of the airport. The present airport terminal will double in size. 
In a move driven by the Deputy Prime Minister Joyce, 200 public servants could be relocating to Armidale. Staff from the Australian Pesticides and Veterinary Medicines Authority have been told to prepare to relocate under the Federal Government’s “jobs and growth” strategy. 
The Armidale median house price is $360,000 following a 6 percent rise in the past 12 months. It’s quite a busy market with over 400 house sales in the past 12 months. 
Long-term growth, i.e. the average annual growth in median house prices over the past 10 years, is 5 percent per year for both houses and units.
Investors can expect solid rents to deliver yields in the 5 percent to 5.5 percent range on houses and around 6 percent on units.
 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can  <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3Cspan%20style=/'display:%20none;/'%3E');%20//--%3E%20%3C/script%3EThis%20email%20address%20is%20being%20protected%20from%20spambots.%20You%20need%20JavaScript%20enabled%20to%20view%20it.%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3C/');%20document.write('span%3E');%20//--%3E%20%3C/script%3E">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a>
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Armidale investments being overlooked

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A 740 sqm commercial offering in Armidale has been listed for sale at $1.25 million.
Previously traded at $925,000 in 2012, <a href="https://www.realestate.com.au/property-house-nsw-armidale-117673739" target="_blank">110-114 Beardy Street</a> has been marketed as a blue chip investment.
The building has three shop frontage on a high foot and vehicle traffic street. 
The property is listed by Shane Kliendienst at Uphill &amp; Schaefer Real Estate, Armidale.
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Regional Armidale property listed at $1.25 million

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The fund manager Iain Gray has sold the Achill West grazing property near Armidale to local beef producers, Marengo Pastoral Company.
The New England Property has been sold on a “walk in, walk out” basis for an undisclosed price. It was put up for sale in October last year with expectations of between $8 million and $8.5 million.
Originally part of the well known New England’s Coventry families fine wool empire, Achill West comprises 2,216.06 hectares (5,473.67 acres) of predominantly open undulating but well sheltered grazing country.
The buyers, Marengo Pastoral Company already have a large beef cattle operation to the east of Ebor, near Hernani.
They currently run approximately 800 breeding cows and turning off up to 3,000 cattle per annum.
The purchase of Achill West will allow them to further develop their beef cattle operation by utilizing Achill West as their main breeding holding, running 1,000 breeding cows plus followers, including the Achill West Angus herd together with some of their own cows. One of the features of Achill West is its proximity to markets – 3 abattoirs within 165km radius and 3 major feedlots within 220km radius.
Enabling them to maximize their beef cattle returns, the previous owners have been producing a percentage of Wagyu cross calves in recent years from their (up to) 800 quality Angus breeding cows for the lucrative Japanese market, Chris Meares at Meares &amp; Associates said.
“The purchase of the well managed and developed Achill West by the Marengo Pastoral Company is a further example of vertical integration of breeding and fattening enterprises in the cattle industry. The concept behind the purchase is that Achill West will become the “breeding factory” for the owners, with Marengo to the East, with its higher rainfall, heavy basalt soils and maritime climate becoming the “fattening factory” for the operation.”
Ownership of Marengo Pastoral is shared between David Cobcroft, managing director at Sydney-based Alukea Commodities, Warwick Negus, a director at ASX-listed investment firm Washington H. Soul Pattinson and his wife Louise, and the superannuation fund of Robert and Samuel Mayer, who run F. Mayer Imports, a major food supplier.
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Iain Gray sells New England property, Achill West

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Historic 148 Dangar Street, Armidale, has been listed by Ben Saxby of Professionals Armidale.
Constructed in the 1890s from traditional New England blue brick, the home will appeal to those who love period style architecture and luxury style living. 
The stables were originally built for James Miller’s Kaunda estate.
The stables, envisaged by James White, were described as “very comfortable quarters” for racehorses.
The building at 148 Dangar Street was refurbished as a four-bedroom residence after 1900.
The grand foyer boasts a staircase of Oregon and Hoop Pine joinery.
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Historic Armidale trophy home listed

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Sarah Pease from Sylvania Park, Enmore via Uralla was the buyer when David Nolan at Webster Nolan Real Estate and Bruce Rutherford at Boltons Landmark sold the Armidale offerings, Kingsford and Sun Valley at auction last week. 
The vendors Rob and Kelly Lamoureux are returning to Canada, with their children now overseas.
The marketing campaign resulted in over 90 enquiries and 36 inspections.
With a total of 11 registered bidders, <a href="https://www.realestate.com.au/sold/property-livestock-nsw-armidale-7926638" target="_blank">Kingsford</a> (above), was the first property offered then followed by Sun Valley.
The Kingsford bidding started at $2.5 million and after 42 bids was knocked down for $4.65 million.
The Sun Valley bidding started at $3 million and after 13 bids was knocked down for $4.025 million.
The Lamoureux's came to Australia 30 years ago, as a young married couple, from a farming and ranching background respectively. Kelly leaving a large family cattle ranch in the foothills of the Rocky Mountains and Rob a diverse background in farming and mixed livestock. 
Their adventure was precipitated by the desire to find a kinder climate.
Coming from the long harsh winters of western Canada the lovely four seasons of the New England made life on the land much easier, David Nolan advised.
Rob and Kelly have run a very successful commercial herd of cross bred cows. In the last 3 years their steers have taken out the Grand Champion and Reserve Grand Champion twice at both Beef Spectacular in NSW and Paddock to Plate at the Ekka in Queensland. 
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New England farm sales secure $8.6 million

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After months on the market, Wyatts Creek is set for auction.
Wyatts Creek at <a href="https://www.realestate.com.au/property-livestock-nsw-armidale-7943666" target="_blank">32 Cornelsons Road Jeogla, Armidale</a> is a working grazing property with a residence situated on the Eastern Fall of the New England Tablelands.  
The architecturally designed home comprises two separate pavilions connected by a breezeway with paddock and bushland views.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/19/armidale%202.jpg" alt="">
The main residence features six bedrooms, four bathrooms, formal and informal living areas, and a separate double garage.
The second smaller pavilion comprises a private master suite, bathroom and study. 
Wyatts Creek comes with 428 hectare working cattle grazing property which has been divided into 21 paddocks, well balanced pastures, timber and large secured shed.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/19/armidale%203.jpg" alt="">
It also has stock and domestic water throughout which includes a total of 12 dams and water reticulated to a number of troughs.
Armidale is known as a retail, cultural and educational hub with New England Regional Art Gallery, University of New England and schools.
The property has been scheduled to go under the hammer on April 9. 
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Armidale

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