Banksia Heights: Great investment for first-home buyers

11 Henderson Street, Redbank, QLD 4301 See 22 more projects in Ipswich

Banksia Heights is a 46-lot land estate located in Redbank. The lots range in size from 402 – 706 sqm, and all are undergoing civil construction before being made available for sale. Banksia Heights is being marketed primarily toward growing families, as its proximity to a number of schools and the growing job opportunities in the area will appeal to this demographic. Investors are also being targeted, as there are options to build dual-key homes on some of the lots.

Banksia Heights Current Development State

Banksia Heights Current Development State

Banksia Heights sits quite close to a number of parklands, including Collingwood Park, Tofa Mamao A Samoa Park, and Banjo Patterson Park. Redbank Plaza, a new shopping centre in the region, is 1.5 kilometres away, and the Orion Springfield Shopping centre and Lagoon are less than 15-minutes drive away. The nearby Orion Lagoon caters for all age groups and the outdoor pools are incredibly popular during summer.

  • 46 lots ranging in size from 420 to 706 sqm.
  • Located at 11 Henderson Street, Redbank.
  • There are multiple house and land packages for four-bedroom houses available, starting from $419.434.

The Project

Civil works are due to be complete as early as November 2018. This means that all blocks will be flat, fully benched and retained. Land lots range in size from 402 – 706 sqm with house and land packages from $419.434.

Buyers can also choose between a number of house and land packages, most of which include four-bedroom homes. Traditional and dual-key options are available, meaning that Banksia Heights may appeal to investors. The house and land packages start at $419.434 although the price is subject to a soil test and site inspection. Some of the builders who are offering house and land packages at Banksia Heights will allow buyers to customise their house design.

We love…

  • The location of Banksia Heights is a major plus because it’s easy to access everything and Redbank is a growing area, meaning it will continue to be a great investment in the future.
  • Designed for both owner-occupiers and investors, which means that there is a lot for everyone.

But remember that…

  • Some of the lots are rear access so are only accessible through a long driveway and are hidden behind other houses, so they have very small frontage. However some buyers may prefer these lots because of the added privacy.
  • There is a lot of development occurring in Redbank now and over the coming years, meaning that road closures in the suburb may be an issue.

The Location

Banksia Heights is located at 11 Henderson Street, Redbank. A growing suburb, Redbank is expected to continue to expand over the coming years, in part due to the increasing amounts of estates in and around the suburb, but also due to the approval of a new Defence Department facility.

Residents at Banksia Heights will also be located close to a number of schools and childcare centres. These include Kruger State School, Collingwood Park State School, Redbank Plains State High School (Queensland’s newest secondary state school), Bellbird Park State Secondary College, Staines Memorial College and, of course, the Goodstart Early Learning Centre just down the road.

There are a number of public transport options for residents of Banksia Heights. Within a 10-minute walk, there are seven bus stops. Goodna train station is a nine-minute drive away, whilst the Redbank train station is about a five-minute drive away. All of these forms of public transport can be used to get into the Brisbane CBD in about 40 minutes.

Land Details

The lots at Banksia Heights average out to be approximately 467 sqm, but can be as large as 706 sqm. Most lots range between 402 and 594 sqm, with frontages ranging between 13.4 and 35.16 (some lots have little frontage with just a driveway sized entrance to their lot). It’s worth noting that lots 26, 27 and 28 are accessed from the neighbouring development on Priestly Place, not the centre road as most other lots are.

Floor Plans

There are a number of different house and land packages available, which means that there are a number of different floor plans. However, most of the houses available are four-bedroom houses, with double-car garages. In the case of the houses that are dual-key, the houses are split into one-bedroom flats and three-bedroom houses.

Investment Analysis

The weekly median advertised rent is $330, which means that investors can expect a 5.61% gross rental yield (which is above the national average of 4.24%). This means that Banksia Heights may be an ideal investment for those who want to buy a long-term, high-return investment property.

Neighbouring Projects

The closest project to Banksia Heights is called Verona Estate, and it is located a few blocks away. There are expected to be many more over the coming years, as the suburb continues to expand.

Written: 20 September 2018, Updated: 8 October 2018

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