I attended a breakfast briefing last week with the City of Bunbury Mayor Gary Brennan and CEO Andrew Brien.
The Mayor predicted that there would be cranes in the Bunbury skyline within 12 months and he has good reason to feel optimistic.
The CBD of Bunbury is undergoing a retail renovation with several major precincts including Bunbury Forum, Minninup Forum, Plaza Shopping Centre and Stirling/Centrepoint undertaking significant expansion plans.
It was also particularly pleasing to see the City’s focus on connecting the Centrepoint Shopping Centre to the foreshore and while it will impact on the flow of traffic, it will also allow the City to be truly connected to its waterways.
In addition a Brisbane syndicate have purchased one of the 5 Koombana North land parcels in order to construct a six storey residential development which also encompasses a level of retail and commercial. This will add to the existing Marlston waterfront and is long overdue!
The City also has over 100 land parcels which they are currently rationalising and on that basis the CEO is attending Eastern States conferences with a prospectus of available parcels which are now for sale. It is obvious that the City is keen to get the ball rolling and build on its existing strengths.
Economically the City of Bunbury has a high ratio of residents that own their own home outright and commercial investment is strong ($120 million in sales in 2013/2014).
As such, as the Mayor stated, we just need to lift the market’s confidence and this wave of investment will undoubtedly have a positive knock-on effect.
If you are interested in viewing the City’s prospectus please contact me at email@example.com. It is an interesting read!