GPS Pipeline Update | March 2025

From Richard Woodhead, GPS Investment Fund Limited Managing Director

Following on from last months newsletter, the goal of writing two loans per month is starting to see more projects within the bayside and surrounding suburbs such as Wellington Point, Victoria Point, Thornside, Wynnum and Manly.

We are regularly in contact with local marketers in our key areas, as its one of the best ways to help determine if a project is going to be a success. Feedback from those local agents are that the bayside suburbs are growing in popularity. This is due to people’s desire to live in a beautiful suburb with an investment property close by that allows them to keep their current suburban lifestyle.

Overall, there are a number of key points in regards to the bayside area that we all agree on:

• The Wynnum Central market continues to mature and has good depth. It will now handle higher quality (and price) product. We also like the market in Manly. The issue is finding development sites owing to planning laws and passionate locals;
• Cleveland is a market ready for more significant residential development. The demand in the area has been exacerbated by the Federal Government effectively cancelling the Toondah Harbour development. This has taken a lot of proposed new residential units out of an already undersupplied market; and
• There is a strong market between Wynnum and Cleveland. The product must meet buyer expectations and price points. There is a very strong ‘right sizer’ market. New product must be priced slightly less than the median house price, so there is some cash left from the sale to top up their superannuation balance or buy a caravan etc.

GPS has an established presence in the bayside area and we expect to see a steady flow of new projects for funding out of these key suburbs.