Why Sunshine is stacking up as a growth satellite city to invest in?
Sunshine is a place of State significance and includes the Sunshine National Employment and Innovation Cluster (NEIC) focused on investment and growth. A geographic concentration of linked business and institutions to provide a major contribution to the Victorian economy, supported by excellent transport links and potential to accommodate significant growth in jobs, population and housing.
Further spin offs of the NEIC will be tertiary education, health related training, healthcare, retail and professional and clerical services, furthering the growth of the local economy and Council plans.
The Sunshine NEIC is a 20 sq.km area focused around Sunshine Hospital accommodating around 14,600 jobs with the largest employer being Healthcare and Social Assistance, then Education and Training and then Manufacturing and Retail. And being a Metropolitan Activity Centre to Melbourne, Sunshine will play a major role in the delivery of services to government, health, justice, education, retail and commercial opportunities.
Infrastructure and Growth – planned
Have you read The Sunshine Rising Action Plan 2019-2024 which is the ‘road map’ to guide revitalisation, gentrification, infrastructure, population growth and other required fundamentals you will require to soundly underpin your investment decision when looking to invest in an investment grade property in Sunshine which falls under Brimbank Council.
In summary take into consideration how the Activity Centre Zone, the new Melbourne Airport Rail Link (MARL), the Regional Rail Link (RRL), the Sunshine Super Hub (SSH), the Metropolitan Activity Centre, the CBD, the National Employment and Innovation Cluster and other infrastructure will lend itself to you achieving capital growth and sound rental yields when you choose to invest in Sunshine.
The MARL is a $13bn project with a route directly through Sunshine Super Hub which will open up significant benefits for metropolitan and regional commuters and of course a direct rail line to Melbourne International and Domestic Airport from Melbourne CBD.
Sunshine is strategically positioned to be an important regional centre for Melbourne’s growing west, this is a planned growth by Melbourne and forms part of the Melbourne 2050 and PLAN MELBOURNE action plan see here
This planned vibrant centre for the local community makes a vital contribution to the local Sunshine Economy and also the surrounding district whilst providing a diverse range of entertainment, shopping, community amenities, commercial services, cultural activities, educational services and more.
Regional Rail Link
When you take into consideration how just the Regional Rail Link, the multi-million upgrade to the Sunshine Railway Station, The Rail Link from Melbourne through Sunshine to Melbourne Airport and the planned railway link from Geelong to Sunshine to the Airport, how this significant improved and to be improved public transport capacity will alter the face of Sunshine forever. We know from experience, infrastructure projects such as these have very strong and positive impacts on the value of properties in the area.
The Victorian Government’s Western Rail Plan (WRP) planned to cater for a fast, high capacity rail network servicing Melbourne’s growing suburbs and regional areas and Brimbank Response Strategy to the WRP is to optimise the benefits of the WRP to Sunshine and Brimbank.
Sunshine Planned to become an Economic Powerhouse
The city of Sunshine is planned to be the gateway to western Victoria with trains from Ballarat, Bendigo and Geelong all passing through Sunshine or from Sunshine to these areas bringing them all that much closer into Melbourne and Geelong employment hubs.
Sunshine has it’s own Priority Precinct established to provide jobs and strong economic and social opportunities for the whole Brimbank Shire. Another economic driver to Sunshine is the Sunshine National Employment and Innovation Cluster (NEIC) which will create new jobs, attract population growth to fill these jobs, placing upward pressure on the supply of new and existing dwellings to own or rent. Your investment opportunity right here.
Sunshine is positioned as one of Melbourne’s most accessible Metropolitan Centres with significant infrastructure investment to become a catalyst for urban renewal along the railway line corridor, impacting the demand and value for residential and commercial property.
Sunshine is only 12km from Melbourne CBD and planned to play an important role die to its central location, its growing population, public transport connections, access to major roads and other required infrastructure to support the growth. The planned for increase in population will support business growth, support the local community whilst also becoming home owners or tenants.
Sunshine Rising Program incorporates a cross functional and multi pronged approach to attract major investment and business development and is working in conjunction with the Action Plan as a collaborative approach between Council, local Business, Service Providers, Transport and Infrastructure Agencies to provide the roadmap for Council to focus resources in the coming years to revitalise the Centre and grow Sunshine into becoming a satellite city west of Melbourne.
To date, 100 initiatives have been identified by the Sunshine Business Plan and will be delivered over a 5 year timeline with 34 already achieved and 63 ongoing and incorporated into the new Action Plan, projects such as :
- Completing the $52m Brimbank Community & Civic Centre and Sunshine Library
- Completing the iHarvest co-working space $1.97m
- Completion of the Regional Rail Link Project delivering the new Station and integrated transport exchange
- Completion of the $11m multi-deck carpark
- Completing the Sunval Community Park $3.65m
- Completing stages 1 and 2 of the Hampshire Road Master Plan
- And other projects which include private investments such as Retaining the VicRoads in the Centre a $25m project and also completion of stage 1 of the mixed use Foundry Towers development
Sunshine offers locals and tourists public art attractions both indoors and out, spacious parks, street market, festivals and a focus on attracting visitors to the Sunshine Town Centre. The Town Centre is the largest in Brimbank with an extensive range of business, education, recreational, health, community, transport services and amenities and planned to grow and gentrify.
By design, Melbourne’s West is one of the fastest growing regions in Australia and forecast to achieve a population increase of just under half a million new residents by 2031, providing major opportunities to cater for all sorts of growing needs.
Sunshine is well positioned to capture some of this growth and is becoming characterised by a culturally diverse community from overseas immigration and Australian decent.
Sunshine house prices increased from $440k in 2013 to $744k in 2018. There continues to be an increase in demand for new housing and for the supply of units and townhouses to accommodate the growing population at different stages of their life cycle