Property Investment News

Townsville CBD utilities upgrade continues

The planned upgrades to the underground water, sewers and drainage around the Townsville CBD have progressed to Sturt Street, the Council of Townsville has reported.

These upgrades are part of the council's attempts to modernise the 60-year-old waterworks and bring them up to a more modern standard. Improvements listed include the construction of a new reservoir, upgrading the mains network and replacing other miscellaneous infrastructure. 

A sewer relining is also already underway, so residents should be aware of several diversions along typical traffic routes. Several footpaths have also been averted or temporarily removed and pedestrians are asked to be aware of the various works currently underway.

The project is expected to be finished by early to mid-2017, while the sewer relining works are planned to be completed by early 2016.

Rebuild leads to better conditions for buyers

These upgrades have occurred as a result of planned development of the city centre with multi-storey residential builds and commercial enterprises. The new ventures were expected to put strain upon the already-dated water system and preemptive action was taken to avert problems.

The additional CBD developments are likely to improve conditions for buyers and sellers, as more housing and business areas become available for rent and purchase and current properties increase in value.

Meanwhile, those investors who are considering taking advantage of these new upgrades should consider contacting a mortgage broker. Professional mortgage experts can advise them on the extent of their ability to invest in these new CBD residences.

More information about the Townsville CBD Utilities Upgrade is available on the Townsville Council website. Project region maps are available for future and current work areas. Consultations are also being taken on this project, with the next planned Community Information Session taking place in February 2016.

Residents, business owners and property holders are being welcomed to attend.

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