Issue 13 | The Property Development Review

Issue #13

June / July 2020

Inside This Issue:

The Interview: Bill Moss AO Market Moves: Around the Country The Interview: Danny Ciarma National Site Listings Australia-Wide

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From the CEO Nick Materia, Development Ready

Welcome to the June / July Issue of The Property Development Review. As we enter the dawn of a post-COVID-19 world, we can sense a lot of energy prowling under the surface. Currently, selective markets within markets are transacting well. However the key question is – will the Australian property market return to normality?

Without the benefit of a crystal ball, the short-term answer is no.

It’s definitely a changing landscape. However key industry figures expect that the back-half of 2020 will present great opportunities.

The Interview - Bill Moss AO. Rob Langton had the absolute privilege of sitting down with one of Australia’s most esteemed business and real estate identities, Bill Moss AO. During this rare and in-depth interview, conducted at his stunning Dennarque venue in Mount Wilson in NSW, the pair discussed Bill’s life, his achievement and his legacy. Be sure to read the article inside and watch the online video interview.

Danny Ciarma – The Architect’s Developer. The son of a builderdeveloper, Danny Ciarma has always had a curiosity with property.

As a qualified architect, Danny’s interests lead him to diverse work experiences prior to embarking on his highly successful journey as a developer. You can read about Danny’s experiences, industry knowledge and philosophies in this highly insightful interview.

Nigel Satterley - Satterley Property Group. As Chief Executive & Managing Director of Satterley Property Group, Nigel Satterley is one of the most prominent residential land developers to come out of Western Australia. From humble beginnings in the wheatbelt town of Cunderdin, Nigel has become one of the most admired property professionals of the modern day. This industry doyen joins us for a conversation about his 40-year success story as well his assessment of WA’s development future. Don’t miss it.

On The Cover Bill Moss AO Editor in Chief Rob Langton Editor Jack M. Gaffney, Development Ready

More Listings and More Opportunities. As with all issues we’ve included the most significant development sites from across the nation.

Design Cam Norris camnorris.xyz Contact Development Ready Pty Ltd Level 1, 167-169 Buckhurst Street, South Melbourne VIC 3205 Tel. 03 9631 5476

Best wishes and enjoy the read.

Advertising Enquiries ted@developmentready.com.au Editorial editor@developmentready.com.au

Nick Materia, Founder & CEO, Development Ready

Published by Development Ready Pty Ltd

Inside Issue #13

The Interview: Bill Moss AO

Developer Finance: Michael Corcoran

The Interview: Danny Ciarma

Page 02

Page 15

Page 42

The Interview: Bill Moss AO

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Image: Development Ready

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A Remarkable Enduring Journey as a Pioneering Global Business Leader and Philanthropist. Watch the Interview

Bill Moss AO is one of Australia’s pre-eminent business and real estate identities; but he wasn’t born to be.

The fourth and youngest son of depression-era parents, Bill’s upbringing falls short of the many privileges his contemporaries were blessed with. Money and jobs were scarce, but more imposing than that was the degenerative disease that he has battled with his entire life. Each step forward, and lord knows he’s taken many, has been both literally and figuratively more difficult for Bill than it has for most others.

In a tale that is rich in its portrayal of overcoming adversity, Bill’s achievements are nothing short of impressive. Notably, he’s the current Chairman and Executive Director at Boston Global and he spent 23 years as a senior executive and Executive Director at Macquarie Group. He’s also heavily involved in multiple medical research organisations, is a renowned philanthropist and has become one of the most highly respected and revered figures in the property and economic foundations of the nation.

His degenerative disease may have relegated him to a chair, but Bill Moss is a testament to what it means to stand tall.

The Early Days Bill’s connection with Australia stretches definitively back, through his mother’s side, to 1787. His great ancestor, Henry Hacking, was the quartermaster aboard HMS Sirius of the First Fleet and became a distinguished explorer of England’s new down-under world.

Such was his notoriety that Matthew Flinders named Port Hacking after him. Hacking went on to map out much of New South Wales and Tasmania, and it looks as though this curiosity and tenacity became hereditary.

Bill remembers fondly the high intelligence of his parents and their vigorous work ethic. They were both shaped in consequential ways by the Great Depression, cementing a perspective on labour that would mould Bill’s character too.

While only officially diagnosed when he had reached 28, Bill was aware from a much younger age that something wasn’t quite right.

“I knew early on that I had some disability,” he laments, “I knew I wasn’t as fast a runner as everyone else. I couldn’t catch a cricket ball and I could never make the football team.

I even had trouble riding a push-bike.”

It’s called facioscapulohumeral dystrophy, or FSHD, and it’s a form of muscular dystrophy that causes progressive weakness with the inevitable wasting away of the body’s muscles. Simple acts that many take for granted, like holding a cup of tea, have sadly become too much to bear.

While the confirmation of what Bill already knew would come much later, he was left to face his formative years with this disease hiding in plain sight. It would be appropriate to mention here a quote that is often attributed to Randy Pausch’s Last Lecture “we cannot change the cards we are dealt, just how we play the hand”.

At just 12 years of age, Bill demonstrated a remarkable level of maturity and self-awareness by penning this poem;

I shall be what I will be, for I will be what I am Not for one, not for all, but for I For I am life and life is me As long as I shall be

This idea of taking charge of one’s own destiny ultimately set a mantra that Bill would follow for the rest of his life.

Curisoity Instills the Cat David McClelland and David Burnham articulated in 1976 that the best managers are the ones who like power, naming it the ‘Great Motivator’. For Bill, however, the drive has been a little more complex.

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The Interview: Bill Moss AO

Growing up in a Guildford West fibro house, in Sydney’s west, his opportunities were limited. His parents were busy toiling long hours at multiple jobs, trying to provide as best they could for their children.

Bill started stacking shelves at the local supermarket, and if he wasn’t doing that his inquisitive mind had him buried in encyclopedias seeking answers to questions he would self-propose. Wanting the best for his only son, Bill’s father pushed him to apply for a place at the selective James Ruse Agricultural High School. Bill attests that he’s unsure how life would have panned out had he not been accepted.

Bill then won a government funded scholarship to the University of Sydney and took up an economics degree. Though he was invited to stay on and complete his honours, Bill was eager to join the workforce.

“In those days you either had money or you didn’t have money,” he recalls. “If you didn’t have money, you would never go to university because it was too hard. If you did have money, you’d go to university and you would get a job at the end of it through family contacts.”

“I came from a different part of Sydney and I had to work. I worked all the way through university; part-time, early mornings and weekends. The number one criterion for me was earning money. I got an offer to do honours and I said no. It was simply a matter of get out, get a job and survive. That idea would have come to me from my parents.”

As his university days came to a close, Bill started looking for employment in public service. This sector was by far the most popular among new graduates as the economy had been in recession for three years and it was more secure than the banks; it even offered more money than the banks.

After being knocked back by both state and federal public service sectors, Bill secured a spot at ANZ and was exposed to many real estate giants such as Harry Triguboff.

His relationship with the bank was strong

and Bill demonstrated skill and loyalty, but life sometimes has other plans in store.

Strapped for cash and looking for some entertainment one Saturday night, Bill and his fiancé of the time, Denise Brandon, went to see if they could join the crowd for an onair television show. All the popular shows were booked out, “that was what people did in those days,” so the merry couple found their way onto the set of a relatively new Channel Ten game show. After making her way successfully through several rounds, Denise came up trumps. The prize included a threemonth trip to Europe, travelling from the Eiffel Tower to the Eastern Bloc. Unfortunately, this would mean more time off than the bank was willing to allow.

“They said we could go for one month, but any longer and they wouldn’t have a job for me when I returned. Well I thought, that’s fine with me, and off we went to Europe.”

There’s more than one example of Bill’s determined work ethic, but there are just as many of the value he puts on life.

Time Is Not Always on Your Side Upon return, Bill took the first job he could get, snatching up a position as a lending manager at Beneficial Finance. It proved to be good exposure to the world of construction finance and Bill quickly rose through the ranks, stepping into a State Manager role at the age of 28.

It was at this moment that Bill was diagnosed with muscular dystrophy and the reality of his situation began to properly sink in. The cyclical nature of the financing world didn’t offer much stability or security. Add this to hearing that he would lose the use of his legs before he turned 50 and Bill knew it

was time for a change.

“I knew I was going to end up in a wheelchair, so I started thinking about how I could fast-track my career. How can I do something on a bigger scale – on a global scale. That was where my head was at.”

In 1984 Bill received a phone call from Phillip Cave who was keen for him to join the team at Hill Samuel. The position was offered with less money than he was on at Beneficial Finance, but it came with an interesting profit-sharing scheme that would allow Bill to lay claim to the profit and equity of the business. It was a gamble, and notes he was brought up on the principle that “money is critical”, but the future he was chasing demanded that he back himself.

Bill’s aptitude quickly became apparent as he helped grow the business and innovate financing models across the industry.

He helped pioneer the “100% of the development costs in exchange for 50% of the profits” model; this and many more were quickly adopted (copied) by all his competitors.

The late 80s deregulation of the banking system, under the Hawke Government, was a blessing of timing for Hill Samuel. The team were already ahead of the pack with an understanding of what was to come and, following a restructure, took on the name Macquarie Bank and a new direction; investment banking.

The Macquarie Days The ‘Millionaire Factory’, as Macquarie Bank has come to be known, is one of the most successful diversified providers of financial products in Australia and it’s largely thanks to the core team during its origins. Bill Moss in particular was extremely adept at forecasting market peaks, troughs and cycles; skills

When People Copy You, You K 04

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that were earned during Macquarie’s first major bump in the road in 1987.

“We had a trust that had a market share price of $1 a share, and the asset was valued by the market at $1.25 a share. So we thought, ‘well this is pretty easy’. Then in a matter of three weeks the market crashed, and within six months the asset value was at 90 cents with a market share price of 60 cents. We went from a premium, to a discount. That was a wake-up call saying to us, welcome to the real world.”

In 1989, Bill was able to accurately predict the 1990 crash of real estate values and reduced Macquarie’s exposure, particularly in Melbourne. His reputation as a market leader continued to grow.

“We planned for it. After the share market collapsed in 1987, no one knew what to do. I can remember long meetings with people brainstorming how it happened and asking whether they were responsible.” Bill led his team to look beyond Australia’s border and find examples of similar economic downturns.

“We looked at a lot of data from Hong Kong which indicated that real estate values could drop 50% and that could continue for four years before it turned around. So, we then had to set a strategy to handle that. We decided to only focus on blue-chip lending for blue-chip assets.”

The 1990s saw Macquarie go from strength to strength under the leadership of Tony Berg and with Bill in an executive director role. The amount of divisions grew, deals were innovated and market changes were forecasted and adapted to. Bill’s renown as an industry soothsayer grew as he correctly predicted the rise of China and the residential housing boom, but his tactics were a far cry from ‘crystal ball’. Data and conversations served as better tools.

“We were watching the change in house formation. We were watching the divorce rate going up. We were watching the creation of the gay community. We were talking to people on the streets. Basically, we were doing ev-

erything to ensure we didn’t become a frog in boiling water.”

Bill led Macquarie’s expansion into China in the 1990s, before it was even a remote interest to many others, and thanks to Paul Keating was granted access to many senior political figures. He began setting up direct conversations with the national government and with a firm strategy in place his firm’s presence grew exponentially.

As the world entered a new millennium, Macquarie had offices in more than 25 countries and, at one stage, about $50 billion of real estate under their control. They had expanded into leisure assets, acquiring themeparks and the Sydney Kings NBL Basketball team, and complacency was never given time or space.

In the early 2000s, Bill believed that an economic crunch was coming and after further analysis anointed 2008 as the year to be.

With his health also on the decline, Bill priorities began to shift and it became apparent to him it was time to move on. On the same day that Bill formally announced his departure, Macquarie’s share price plummeted; while Bill jests that it was his publication that caused the price fall, it was in fact the first collapse of the savings banks in the US that did it. Once again, the market had fulfilled Bill’s prophecy.

Health & Research Bill started putting his time towards the disease that had changed his life. He left Macquarie with no contacts, no database and no business cards. He admits now that in the months following his professional departure, he probably did the wrong thing.

He went on several holidays around the world and began intensely researching FSHD,

leaving the investment world behind him.

“I was not tuned in to what was happening in the collapse of the economic system – and I should have been. You can’t have investments by remote control, you’ve got to be on top of what’s really going on. By the time I came back, I had to redevelop my market understanding and I think I did that quite well.”

Given the circumstances, his momentary slip away deserves to be excused.

Bill established the Global FHSD Research Foundation in 2007 with the intention of finding a cure for muscular diseases.

The organisation has gone on to work with some of the world’s top medical professionals and has won countless awards with a model that is now followed by many other medical research organisations.

“The foundation was established in the Netherlands and it has grown very quickly.

We’re very close to getting into clinical trials, as we now know that we can turn off the toxic protein that causes the disease. But we’re not there just yet; there are side-effects that we need to manage. The holy grail for me is re-growing tissue that you can no longer use and that’s what we’re looking to tackle at the moment.”

It’s a far cry from predicting market cycles but his previous experience and connections have undoubtedly brought his foundation to the place it is today.

Bill’s never let his disease define him, but he does recognise the significant role it has played in shaping his life. His achievements in both real estate and medical research are extraordinary, and he continues to be a source of sage advice within both sectors. As he continues to demonstrate, you don’t just roll over when the deck’s stacked against you. You play your hand with as much vigour, skill and integrity as you can muster.

Success comes to the willing.

Know You’re a Market Leader.

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Market Moves

Market Moves: Around the Country With the initial shock of COVID-19 behind us, the market is slowly returning to some semblance of normalcy. Many agents have adapted their campaigns, with “social distancing” inspection guidelines and in some cases trading the auction gavel for the computer mouse.

While overall stock levels and sales have slowed around the country, the show still goes on with positive deals on both sides of the table. Here’s a snapshot of the most significant.

VIC An A-Grade office tower at 200 Victoria Street in Melbourne’s CBD property settled for $72 million to 200 VS Pty Ltd, a subsidiary of Fortune 500 company Nippon Telegraph & Telephone Corporation (NTT). The building was completed in 2008 and is only one of three to achieve a 6.0 Star Green rating and 5.5 Star NABERS Energy rating. The vendor, the Australian Unity Diversified Property Fund, originally purchased the building for $42.3 million in October 2014.

Heading south out of the city, Flight Centre’s St Kilda Road home went for $62.15 million, following the firm announcing plans to unlock equity and continue operating. The travel retailer has been hit hard by the recent pandemic, but made a tidy sum on the sale which they originally purchased in 2008 for just $31.3 million.

The second of a portfolio of three, demonstrated that West Melbourne continues to perform well, with a six-level office building trading for $38.5 million. Located at 355 Spencer Street, the building will be refurbished and shortly put on the market for lease.

Adding another chapter to the saga that is Sorrento’s Continental Hotel, ownership has changed hands for a reported $14.5 million, moving from Melbourne developer Stellar to Trennery Property. The Ocean Beach Rd property went back up for sale in March, following the end of its previous contract of sale; a result of complex issues related to its $100 million redevelopment plan.

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A new freestanding Hungry Jack’s and Caltex-anchored Convenience Centre in Mernda sold to a developer partnership between James Hunt, Brett Tooley and Jim Lamb for $13.1 million. Completed earlier this year, the high-profile property is located on Plenty Road in the growing north-west suburb.

A substantial landholding at 110 Albion Road, Box Hill, traded hands from one religious organisation to another for $8.2 million. New owners Villa Maria Catholic Homes Limited secured the 5,074sqm site, which adjoins the heritage-listed St Paschal’s complex. Plans have been announced to develop the site into an aged care residence with a strong focus on specialist dementia and palliative care.

NSW A development approved site in Pemulwuy in Sydney’s west has secured a final sale price of over $36 million, transferring ownership from Revelop and Mintus Pty Ltd, to a local western Sydney builder/developer. The 30,000sqm site was sold with approval for 300 units across eight buildings, ranging from three to five storeys.

Best & Less has offloaded its national headquarters in Sydney for $29 million ($4 million above expectations) to an unknown investor. The 6,265sqm Leichhardt site was originally purchased by Value Retail Group, which holds the clothing retailer as a subsidiary, for $4.5 million in 1998. Located at 657673 Parramatta Rd, the complex was offered to buyers as a sale and lease back opportunity that would see Best & Less stay on as leaseholders for a minimum of three years at $1.3 million per annum.

Visy have sold their Penrith manufacturing plant, with a leaseback, to Sandran Property Group for $17.25 million. The 4.2-hectare, 126 Andrews Road site, comprises an office/factory which covers just one fifth of the land area. It will return an annual rent of $1 million, with Visy also offering to remain as

Image: 355 Spencer Street, West Melbourne – supplied by CBRE

tenants until 2027, with options.

A development approved apartment site in Queenscliff to Sydney’s north, sold under a digital hammer for $13.425 million. 71-71a Queenscliff Road saw ten bidders register for the online virtual bidding room before offering 47 click bids. The property comprised of two neighbouring homes with approval for a residential complex offering 14 flats across six floors.

A full-floor strata office in the historic Company Director House in Sydney’s CBD has sold for $12 million, representing the biggest Sydney CBD strata office transaction since 2018. The vendor, travel company Excite Holidays, paid just $4.175 million for the level 4 asset in early 2016.

Judy Cameron House, a former aged care property in Beecroft, has been snapped up

by Thompson Health Care for close to $11.7 million. The prime essential service asset closed its doors in May 2019 and encompasses a 6,152sqm site as well as a 77-bed facility plus a heritage-listed home.

A development approved property near the beach in Cronulla sold for $11.1 million. Located at 3-5 Parramatta Street, the 1,530sqm property currently comprises of two double-storey apartment blocks and holds an approved DA for a five-level residential complex allowing for 25 units.

QLD YFG Shopping Centres have purchased the remaining 75% stake of Brisbane’s Mt Ommaney Shopping Centre for $285 million from Vicinity Centres, granting them 100% control of the asset. The deal follows YFG’s initial purchase late last year of a 25% stake.

After a 14-month long listing period, the City of Brisbane Investment Corporation has reached a settlement for its South Regional Business Centre in Yeerongpilly, trading for $35.25 million. Located at 665-681 Fairfield Road, the green commercial asset was purpose built for the council seven years ago, and

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encompasses 4,198sqm of A-graded office area over three floors, across a total landholding of 3,600sqm.

Boutique institutional fund manager Arcadia Funds Management Limited have sold a multi-tenanted industrial estate in Pinkenba for $34.7 million. City Freeholds purchased the property, beating 17 other groups who also submitted written expressions of interest. Positioned on a 45,000sqm site, the property comprises of bulk storage warehousing and was sold fully tenanted returning approximately $2.85 million annually.

Australia Post has recently sold a distribution centre in Brisbane’s Underwood to Vic Investments Management Group for $26 million. The purchaser has announced plans to replace the 9.7-hectare property with a mix of residential and commercial stock. They are currently inviting registrations of interest for the project.

WA Seven West Media has sold its Osborne Park headquarters, with a 15-year leaseback, to a special purpose Primewest trust for $75 million following an off-market deal. Primewest

executive chairman John Bond noted that thanks to the pending approval of the Herdsman Glendalough Structure Plan, the site will benefit “the company with an exceptional, counter-cyclical investment opportunity at below replacement cost but more importantly an opportunity to create something very special for the area in the long term”. Once approved the structure plan will allow the property to be replaced with a mixed-use complex.

Mair Property Funds has secured a suburban office in West Perth for $10.6 million following their other recent suburban office acquisition in Mulgrave (VIC) for $13.9 million.

The West Perth asset represents an A-grade commercial property, sold with lease to EBM Insurance Brokers, with the purchaser already announcing plans to redevelop the site once the lease expires.

A 3,696sqm office building in Mirrabooka, approximately 12km north of the Perth CBD, has traded for $8.9 million. The asset is predominantly occupied by Centrelink, who will continue occupancy on a six-year lease due to expire in late 2024, while the remaining 8% of NLA was sold vacant. Wheelchairs for Kids has purchased a warehouse and office facility in Wangara for $1.9 million. Located at 10 Buckingham Drive, the property comprises a highly functional warehouse with small internal office, kitchenette, amenities and large adjoining hardstand spread over 1,422sqm on a 4,804sqm land area.

A large raw development site located at 113A Riverton Drive West, Rossmoyne, in Perth’s South, has transacted for $1.3 million. The 773sqm elevated Green Titled block has never been built on and offers an open vista frontage with views of the Canning River and beyond to the Mt Henry Bridge Reserve.

SA A large warehouse and industrial property near Port Adelaide recently sold for $2.5 million. Located at 52 Wilkins Rd in Gillman, around 13k north of Adelaide’s CBD. The 8,100sqm property was sold partially leased returning a net annual rental of $15,200.

An Adelaide ‘man-cave’ became the talk of the town, and the nation, after being listed for sale and securing a new owner in just four days. The 368sqm brick warehouse, located at 24 St Helena Place, sold for an undisclosed price. Simon Lambert of McGees Property Adelaide stated that the final number was well above the $1.195 million asking price. The property has room for multiple cars, with a large office space, lounge and bar.

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Savills World Research Report

Savills World Research Report: Global Demographic Changes Immune to the Pandemic Drive

Savills has examined the key trends set to determine future global real estate investment activity in a series of articles and interviews launched today as part of its Impacts research programme, where the international real estate advisor studies the various social, environmental, demographic and technological ‘tipping points’ immediately facing global real estate.

According to Savills, the population of retirees globally is forecast to grow from 1.5 billion to 2.1 billion in 2050 and the deficit between retirees’ needs and pension provision is growing by $28bn every 24 hours. By 2050 the deficit is set to be five times the size of the global economy and the threat of this enormous financial burden is signalling a ‘tipping point’ that is firing up demand for long-term secure income streams, with real estate seen as a good annuity match.

Savills research states that less than 3% of global pension fund assets are held in land and property and while low this still equates to $44 trillion. Some countries invest more than others, ranging from Finland at 11% to the likes of the US at just 0.7%.

Mat Oakley, Head of Research, Savills EMEA, comments: “Pension funds have always been significant investors in land and property, and rising needs for more pension provision will mean that more pension and annuity fund money will be targeted at the sector. The challenge however for these global pension fund investors over the next decade is going to be the scarcity of these long income opportunities.”

Savills highlights that disruption within the traditional retail and office sector has driven a decline in the average lease length attached to a typical property investment, which means that the largest and most liquid parts of the market will no longer offer the level of annuity matching that they used to.

According to Paul Craig, CEO, Savills Australia and New Zealand, the demand from domestic Pension Funds for real estate will continue to be complimented by the sustained

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mandate of the International Pension Funds to satisfy market allocations.

“Mid to long term, Australian real estate with its the high quality and sophistication of the fund management sector, along with its transparency is an ideal destination for both domestic and international pension funds.

We will continue to see a focus on high quality, long term investments, underpinned by real estate equity and debt investments. And, as we have seen in other markets, the shift to other sectors, (such as student accommodation, residential etc.), given the sheer volume of capital seeking a home in Real Estate from multiple sources and locations is certain to emerge” he said.

Over recent years capital allocations have increased into the residential sector, namely multifamily and senior housing, which are driven by global demographic factors rather than the cyclical health of the economy and the recent effects of Covid-19. It is this longterm appeal that is of greatest value to global pension funds, and it will continue to drive demand for such assets. Savills research confirms that institutional investment into residential asset classes has grown by almost 50% in the last five years, and it shows no sign of abating.

Paul Tostevin, Director, Savills World Research, says: “Demographic trends such as ageing, urbanisation and shrinking households are likely to be immune to the effects of Covid-19 long term and will only strengthen investor appetite for this sector. However, with long-term low interest rates ensuring that real estate remains in demand as an asset class, the low availability of high-quality stock means that competition for these operational assets is likely to be fierce.” Mat Oakley adds, “Rising demand for longer-income assets will, I believe, meet a falling supply and a rise in prices. This means it will not only be senior housing that benefits from an ageing population, but segments as diverse as pubs, logistics, data centres and offices.”

IN SUMMARY: — The World Economic Forum (WEF) is warning of a $400 trillion global pension time bomb by 2050, signalling a financial crisis equivalent to climate change, as the average global life expectancy at birth is now estimated at 72.6 years, the highest ever.

— Demand for long-term secure income streams is firing up appetite for ‘diverse’ real estate assets such as multifamily and senior housing and, increasingly, logistics and data centres.

— Savills research states that less than 3% of global pension fund assets are held in land and property, equating to $44 trillion. Some countries invest more than others, ranging from Finland at 11% to the likes of the US at just 0.7%.

Development Ready acknowledge & thank Savills Australia for providing this report. Follow @SavillsAus for the latest Australian and global real estate news and research.

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▶ Suburb Report: Wollongong ▶ Developer Finance: Michael Corcoran – Solido Capital ▶ New South Wales Listings

NSW Sydney 12 33.8688° S, 151.2093° E

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Greetings From: Wollongong Recognised as a beautiful all-rounder, Wollongong is a coastal city lying 90km south of Sydney along the Grand Pacific Drive. Surf beaches and rock pools line the coastline, with residents, holiday makers and internationals all making good use them. Multiple walking and bike trails wind through the forests and rocky cliffs of the nearby Illawarra mountain range, which wraps around the city. The multi-cultural background of its residents reflects a smorgasbord of different cuisines, with fantastic venues for eating out. Largely there is an exciting new scene emerging, away from classic Aussie pub culture and towards trendy bars and cafés; something that is being embraced by Wollongong’s hippest.

imminent as the market stabilises. Weekly median advertised rent is $505.

Unit Prices Median unit price in Wollongong follows a similar trend to houses. As of 28 April 2020, the median price is at $565,000.

Weekly median advertised rent is $420.

Project Spotlight: Skye Currently in construction, Skye Wollongong presents an 18-storey residential tower set right in the centre of town at 9-15 Railway Parade. A mix of one, two and three bedroom suites (plus penthouses) scale this striking architectural landmark, led by development firm Level 33.

The building is crowned by a lush communal rooftop garden offering spectacular views, a barbeque area and pergola-shaded seating. The beachfront is an easy 10-minute stroll, where all the action of the coastal promenade can be enjoyed.

Project Spotlight: Signature Residences Located just around the corner from Skye, Signature Residences stands 21-storeys tall and presents 151 individual residences with parking for 209 cars. This Tony Owen Partners designed high-rise tower offers a mix of one, two and three bedroom apartments, six sub-penthouses, top level penthouses, and ground level office and retail spaces.

Srini Group are leading the project, which aims to provide six-star distinguished amenities that include a dedicated concierge and open-air cinema and is due for completion this year.

Residents The 2020 estimated population for Wollongong is 22,522, with forecasts indicating that this will increase by 13% to 25,409 by 2036. The median age is 34 - lower than the rest of the state at 38. Thanks largely to the University of Wollongong, residents within the ages of 20-29 are the most prevalent.

Apartments dominate the sphere, accounting for 71% of total dwelling structures as of the 2016 census. However, size is still appreciated with only 10% of dwellings listed as either a studio or one-bedroom.

Culture Hang gliders soar through the sky, surfers tear though the waves and a multitude of people from various backgrounds meander through its streets; Wollongong is more of a regional city than it is a town. There exists a decent cultural scene that centres itself around the university and the art gallery, as well as multiple fun music festivals throughout the year.

In regard to dining out, residents have noted that change is in the air. The city’s hospitality offerings are modernising and becoming more sophisticated – meeting an evident demand. Residents are also (mostly) socially responsible, with climate action protests and progressive ideals receiving positive crowd numbers.

House Prices The median house price as of 28 April 2020 was $830,000. This is down since its peak of $930,000 in early 2018, however Wollongong has been on an upward trajectory since 2012 and a return to growth is

Image: Skye, Wollongong

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New South Wales

Suburb Report

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MARK LITWIN Associate Director, Knight Frank Western Sydney

WE EXPERIENCE A BROADER BUYER POOL When selling development opportunities, agents experience a usual group of enquiries on a campaign after campaign.

With Development Ready we experience a broader buyer pool, with new purchasers enquiring that we have never dealt with in the past. This provides vendors with more comfort, knowing that their marketing when selling is covering the market.

DEMI CARIGLIANO Senior Executive, Knight Frank South Sydney

14

Visit DevelopmentReady.com.au

WE CONSISTENTLY ACHIEVE ENGAGEMENT FROM A RANGE OF NEW PURCHASERS The developmentready.com.au website is an imperative marketing component for our team when conducting an onmarket sales campaign. We consistently achieve engagement from a broad range of new purchasers that we may not of have reached without the use of this website.

The exposure that the development ready provides to our development site listings has been fantastic.

HENRY BURKE National Director, Colliers International

LEADS THAT DELIVER RESULTS DR has proven to be an integral part in our marketing campaigns. It is a tailored and direct approach to reach our target market with qualified leads that deliver results.

JOSEPH ASSAF Director, Ray White Commercial NSW

The Property Development Review

Developer Finance: Michael Corcoran – Solido Capital

Development Finance, Government stimulus, abolishing foreign investor levies and opening up to migrants are key to the housing industry’s CV Crisis survival & success.

There is no doubt that the CV Crisis is a unique health and economic crisis, however many of the impacts have been experienced before; such as high unemployment, credit tightening and stock market falls and volatility. Therefore, we do have experience in identifying and dealing with these economic, health and social shocks although the speed and depth of the CV Crisis induced impacts is unprecedented.

The IMF has forecast that the Australian Economy will contract by 6.7% in 2020 but it also forecasts the economy to rebound by 6.1% in 2021.

This forecast relies heavily on Australian Government’s stimulus strategies, including the soon to be announced housing stimulus packages that will likely provide grants of between $20,000 to $40,000 to purchasers of new homes. Without this stimulus and other policy changes like the abolishing of negative growth policy settings, such as State Government Foreign Investor Stamp Duty levies, the Australian Development industry (and the 10% of Australia’s workforce that it employs) are in for a rough downturn.

With these factors in mind, Developers who have high levels of equity in their projects and trusted relationships with financiers will not just survive, they will thrive as less well funded competitors fail to be able to deliver new projects.

The speed & depth of the crisis onset will speed the recovery. Typically, the full on-

set of downturns/upturns and market corrections in the Development Industry are spread over an elongated period of time. Economic data slowly drips out, sometimes months out of date, but that’s ok because big ships like Australia’s economy take a long time to turn around. Well the CV Crisis has changed all of that.

My observation is that downturns in the Development Industry are normally met with an initial sense of denial, blind optimism, hope and finally the reality hits in and developers accept the reality and make changes, often too little too late. The CV Crisis has had an immediate and deep impact on the health system, the economy and our society.

And this means that the deniers and blind optimists were howled down by late-March.

With all of this in mind I forecast that the short term (next 6-12 months) is going to be challenging for all Developers however those that are well capitalised and have access to reliable Acquisition Finance and Construction Finance will be able to acquire at viable prices, gain faster and more viable DA approvals and will face less competition for the end buyers as overall new housing supply continues to fall below underlying demand.

Accordingly, the developers that will thrive over the medium term (next 1-3 years) will need to be well capitalised, have experienced and stable management, know their markets and approval authorities back to front and have strong relationships with Development Financiers and potential equity partners.

The Short Term economic hit is here and now, but the hit isn’t as deep for property…yet. There has been much positive talk throughout the industry about the settlement of pre-CV sale contracts proceeding to settle better than forecast. My conclusion here is that people who were on the path to purchasing pre-CV have proceeded to commit, due the speed of the on-set of the crisis, which allowed these old deals to flow….it is the lack of new Post CV enquiry and sales which is now becoming more evident.

CoreLogic’s March quarter Property Market & Economic Review reported that “historically property values remained relatively insulated in times of negative economic shock”.

This trend looks likely to continue given that “capital cities markets have only just begun showing mid value falls of less than 0.5% in

the past month, while CoreLogic estimates the number of sold properties declined around 40% over April”. Further, CoreLogic listing data shows the amount of stock available for sale is about 25% lower than it was at the same time last year which signals a lack of distressed sales flooding the market.

This is good news, however the need for distressed selling may rise later in the year when the reprieve on mortgage payments ends along with the end of the Jobkeeper program.

Development Finance froze in March… but it was already tightening leading to falls in housing supply in 2019 and early 2020. From a Development Financing perspective, the tap turned off very quickly in March….across the entire Australian market both Banks and Non-Banks started withdrawing offers of finance or even withdrawing facility offers that had progressed through credit approval. This has caused major issues for developers who had acquisition commitments approaching and projects about to commence construction.

Frozen Development Financiers have started a minor thaw with some Non-Banks & Banks, such as Solido Capital, cautiously stepping back in to the market to consider new financing applications from trusted clients however the market has quickly moved from a borrowers market, where interest rate pricing was falling and Senior LVRs were rising, to a Lenders market, where risk is front of mind, leading to falling LVRs and rising interest rates.

Senior Development Finance Loan to Value Ratios (LVRs) – 55% is the new 65%. Acquisition finance is still available but only on de-risked, premium sites (zoned and DA in place) that are located in markets with deep & proven demand and a lack competitor supply. LVRs of up to 60% are being achieved but 50-55% LVRs are more the norm.

Fortunately, it appears that some developers have been able to negotiate extensions on acquisitions for up to six months given the CV Crisis.

Continued on Next Page

15

New South Wales

Developer Finance: Michael Corcoran – Solido Capital

Developer Finance: Michael Corcoran – Solido Capital

While this must be a welcome reprieve, it is unlikely that the Development Financing environment will be much easier in 5-6 months so this is only going to kick the can down the road…not solve the problem.

The only definitive solution is for developers to use the next six months to consolidate their position by converting any existing assets or unsold stock to equity or to raise equity to support funding their future acquisitions at lower LVRs. This situation won’t change in this risk adverse environment until the Development Financing market opens up again and investors soften their focus on risk…and this could be some time away given some forecasters are predicting 10%+ Unemployment moving forward.

What is a Construction finance facility worth if it has Pre-Sale covenants?... not much. Construction finance is currently seen as a higher risk (vs Acquisition Loans) by many investors and the financing industry given many factors such as rising unemployment, falling overseas migration, construction delivery and costs, potential revenue falls from lower prices, end buyer confidence and uncertainty around buyers securing mortgage finance for their purchase.

When you combine this with the fact that the Banks and the majority of Non-Bank Lenders may provide Development Financing facilities carrying pre-sales covenants requiring 40%–100% or more of debt cover. Securing this level of pre-sales has been very difficult to achieve Pre-CV Crisis…let alone now.

The only way that most developers can generate these pre-sales is with heavy discounting which undermines the financial viability of their projects and also undermines the prices of their unsold stock.

The issue of financiers requiring high levels of pre-sales is the largest barrier to increasing supply of new housing, with supply already falling (especially for larger scale apartment projects). It is unlikely that Government stimulus will address this constraint which is going to keep a lid on supply.

Is there a flood of Development Site bargains hitting the market?...NO. Well before the CV Crisis hit Australia financing of new development projects was getting tougher for developers.

At Solido Capital we started to see an increase in the number distressed Development

Financing applications during the 2nd half of 2019 for both acquisitions and construction financing. This continued in early 2020 as we increasingly heard stories of Financiers changing credit terms and covenants late in the process or, even worse, withdrawing their offers to finance altogether.

This situation had already led to many projects becoming ghost sites with faded marketing signs and hoarding. Developers were pleading with buyers to buy off the plan by offering discounts and upgrades to lure them to sign contracts so the developer could meet their pre-sale covenants for construction finance. In most cases the pre-sales still didn’t flow and sites sat dormant and new housing supply fell.

Given the additional shock of the CV Crisis, the lack of construction financing and falls in supply will continue.

This situation is yet to result in high levels of site re-sales and distressed selling by developers. However, we are definitely seeing more and more developers with “B & C” grade development sites (marginal regional locations and/or secondary locations within urban locations) seeking development finance. These types of sites will encounter a level of distressed selling over the next year as they are typically owned by less well funded and experienced developers. Many of these sites will not easily re-sell and are likely to end up in the “bad books” of the Banks and Non-Banks who funded these acquisitions in marginal locations. The re-sale and delivery of many of these sites may have to wait until the market fully heats up over the longer term which could take 3-4 years or more.

As is usual, higher quality and better located sites are less likely to be flooded on to the market for on-sale. The developers of these sites typically have deeper equity and more trusted sources of construction funding. If the developer does have to sell a high quality site it will be able to trade the site without a significant discount.

Senior Debt flavour of the month with risk adverse investors – 35–50% buffer to asset value and dividends. The NonBank Development Financing sector is underpinned largely by private investors investing in Senior Financing investments that have Loan to Value Ratios (LVRs) of 50-65%.

As stock market equity values and dividends head south it has reinforced the merits of investors looking for investments with capital

value buffers and more certainty around dividends. For reputable Development Financiers with proven track records this will lead to significant growth in Funds Under Management over the next 2 years.

Investor enquiry at Solido is strong as investors turn their core focus to risk and away from gaining marginally higher returns for the higher risk of Mezzanine Debt or equity investment. Investors are also looking for Non-Banks that house deep development experience (actual development delivery experience…not just financing experience) within their Executive ranks. This renewed appreciation of experience to negate risk is now front of mind with investors.

Short term Government housing stimulus and re-opening of immigration the key to demand in the next 2 years. The soon to be announced Government housing stimulus program is much needed and will no doubt lift demand for new housing over the next 6-12 months however medium and longer demand growth will need changes to our State and Federal Government’s policy settings to stimulate overseas migration to Australia.

In 2019 more than 230,000 people migrated to Australia. Natural population growth only accounted for 140,000 people. Clearly international migration is the key to growing demand for new housing. Given Australia’s stellar performance to date in dealing with the spread of the Corona Virus we are going to be an even more attractive destination for international migrants, if we open up to their arrival.

If a pro-active and targeted migration strategy is combined with the abolishing the negative growth Foreign Investor stamp duty levies then we have a medium term demand growth platform that will also drive growth in Australia’s broader GDP. Foreign investor taxes have effectively stopped almost all foreign investors from investing in off-the-plan projects which pulled the plug on a large chunk of new housing supply, especially for higher density apartment projects.

Australia needs to leverage our performance in controlling the spread of Corona Virus and these measures would go a long way to making sure our economy and society prosper as a result.

CoreLogic listing data shows the amount of stock available for sale is about 25% lower than it was at the same time last year which signals a lack of distressed sales flooding the market.

16

NSW

The Property Development Review

Property Listings: Development Sites for sale in New South Wales

16 Merewether Street Merewether EOI Closing 11.06 at 4:00pm

48 President Wilson Walk Tanilba Bay EOI Closing 18.06 at 4:00pm

Lots 2-5 & 19-22 of Stage 19 Seaside Boulevard, Fern Bay EOI Closing 11.06 at 4:00pm

8 Fleet Street Salamander Bay EOI Closing 18.06 at 4:00pm

Commercial Collective CLICK TO VIEW

Commercial Collective CLICK TO VIEW

Commercial Collective CLICK TO VIEW

Commercial Collective CLICK TO VIEW

36 Church Street Mayfield Private Treaty - $2,095,000

14 Auckland Street Newcastle EOI Closing 03.07 at 2:00pm

735-749 Luddenham Road Luddenham EOI Closing 04.06 at 4:00pm

Cnr Donald & Yacaaba Street Nelson Bay EOI – Contact Agent

Street Property CLICK TO VIEW

Street Property CLICK TO VIEW

Knight Frank North Sydney CLICK TO VIEW

Knight Frank Newcastle CLICK TO VIEW

Lots 1101-1106 Camfield Drive Heatherbrae EOI Closing 04.06 at 4:00pm

19 Croudace Road Elemore Vale For Sale – Third Stage Release

43 Date Street Adamstown For Sale – Contact Agent

79-83 Brunker Road, & 70-74 Gosford Road, Broadmeadow For Sale – Contact Agent

Knight Frank Newcastle CLICK TO VIEW

Knight Frank Newcastle CLICK TO VIEW

Knight Frank Newcastle CLICK TO VIEW

Knight Frank Newcastle CLICK TO VIEW

58-60 Eastern Valley Way Northbridge EOI Closing 25.06 at 3:00pm

492 Bunnerong Road Matraville EOI Closing 11.06 at 5:00pm

63 Paton Street Woy Woy Contact Agent

65 Paton Street Woy Woy Contact Agent

Vin Commercial CLICK TO VIEW

McGrath Projects CLICK TO VIEW

McGrath Ettalong Beach CLICK TO VIEW

McGrath Ettalong Beach CLICK TO VIEW

17

New South Wales

Property Listings

Property Listings

NSW

Connected. Experienced

16 Merewether Street, Merewether Newcastle CBD

Bar Beach

Junction Shopping Village

16 MEREWETHER STREET Lingard Hospital

OUTLINE INDICATIVE ONLY

FOR SALE

Expressions of Interest closing Thursday 11 June 2020 at 4:00pm

Matt Kearney 0427 921 206

Byrne Tran 0422 302 691

UNDEVELOPED BUSINESS ZONED LAND 1,364 sqm* of vacant land

Zoned B5 Business Development

Frontage to Mitchell Street and Merewether Street

Tightly held and rare opportunity

Ready for development (STCA)

Affluent seaside suburb

Lots 2-5 and 19-22 of Stage 19, Seaside Boulevard, Fern Bay Stockton Sand Dunes

Newcastle CBD

THE PROPERTY

THE PROPERTY

OUTLINES INDICATIVE ONLY

FOR SALE

Expressions of Interest closing Thursday 11 June 2020 at 4:00pm

Matt Kearney 0427 921 206

Adam Leacy 0421 613 160

SEASIDE VILLAGE FERN BAY COMMERCIAL 4,241 sqm* of vacant land

8 contiguous registered allotments

Zoned B1 Neighbourhood Centre

Three street frontages

Long frontage to estate entry road

Popular residential and retirement growth area

www.commercialcollec tive.com. au

The Property Development Review

48 President Wilson Walk, Tanilba Bay 48 PRESIDENT WILSON WALK

Tanilba Medical Centre 48 PRESIDENT WILSON WALK Tanilba Bay Shopping Centre

OUTLINES INDICATIVE ONLY

FOR SALE

Expressions of Interest closing Thursday 18 June 2020 at 4:00pm

Shane Nicholson 0411 339 028

Matt Kearney 0427 921 206

COASTAL COMMERCIAL OR RESIDENTIAL REDEVELOPMENT SITE Site area 11,620 sqm*

Zoned B2 Local Centre

Substantial 3,300 sqm* GFA former shopping centre

Strong seniors living and aged care demographic

Three street frontages

Popular well serviced coastal retirement destination

4 and 8 Fleet Street, Salamander Bay Ingenia Big 4 Holiday Park

4 AND 8 FLEET STREET

4 AND 8 FLEET STREET

Hometown Residential Land Lease Community

OUTLINES INDICATIVE ONLY

FOR SALE

Expressions of Interest closing Thursday 18 June 2020 at 4:00pm

Shane Nicholson 0411 339 028

Matt Kearney 0427 921 206

PORT STEPHENS SENIORS LIVING DEVELOPMENT SITE 59,602 sqm* site opposite Wanda Beach

Strong seniors living supporting demographics

DA Approval for 78 metre APZ and vegetation removal

Five newly constructed seniors housing dwellings on-site

Elevated site presenting significant views

Existing uses of holiday park

www.commercialcollec tive.com. au

New South Wales

Connected. Experienced

Property Listings

• • • • • • •

NSW

The Property Development Review

New South Wales

• • • • • • • • •

Property Listings

NSW

Connecting people & property, perfectly.

For further information, please contact the exclusively listed agents below.

Grant Bulpett +61 415 558 226 Mark Litwin +61 415 742 605 View Listing

10.12 Ha* site area

Rezoning 2020

The Property Development Review

New South Wales

735-749 Luddenham 735-749 Luddenham Road, Road, LuddenhamLuddenham NSW 2745. NSW 2745.

For Sale For Sale via Expressions via Expressions of Interest closing of Interest closing Thursday, 4 June Thursday, 20204atJune 4.00pm 2020 at 4.00pm (AEST).

(AEST).

AEROTROPOLIS AEROTROPOLIS ACREAGE ACREAGE Knight Frank, as exclusive Knight agent, Frank, is excited as exclusive to present agent,tois excited to present to the market a 10.12 Ha* the single market land aholding 10.12 Ha* in the single Northern land holding in the Northern Gateway precinct.

Gateway precinct.

Rezoning in the 2020 calendar Rezoningyear, in the the 2020 position calendar of the year, the position of the Northern Gateway precinct Northern within Gateway the Aerotropolis precinct within will see the Aerotropolis will see benefits from the earlybenefits timing offrom service the early delivery, timing theof Sydney service delivery, the Sydney Science Park, and being Science the hub Park, of transport and being infrastructure the hub of transport infrastructure including the M9, M12 including and the North-South the M9, M12Rail andLink. the North-South Rail Link.

Features include;

Features include;

- 10.12 Ha* site area - 10.12 Ha* site area

- Rezoning 2020 calendar - Rezoning year 2020 calendar year

- 160 m* main corridor- frontage 160 m* main corridor frontage

- 5 mins* from future M12 - 5 mins* access from future M12 access

- 4 mins* from Western - 4 Sydney mins* Airport from Western Sydney Airport

- Located within the Western - Located Sydney withinPriority the Western GrowthSydney area Priority Growth area *Approx

*Approx

2020

* Approx

* Approx

Property Listings

NSW

Connecting people & property, perfectly.

Spring Valley Park

Melbourne CBD 29km* Retail Strip

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Keysborough Primary School

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Crown Allotment 2272, Darren Road, Springvale South

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1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC. For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

Cnr Donald & Yacaaba Street, Nelson Bay NSW 2315.

Exceptional in-fill site with optionality.

For Sale via Expressions of Interest

Site 2,012 sqm* (Approx)

Huge development potential

Perfectly positioned for a prime residential development this magnificent site abutsJEWEL Keysborough Primary School NELSON BAY'S IN THE CROWN. encompassed within a strong residential area. Under the Knight Frank is pleasedZoning to offerthe thisastute unique buyer development Neighbourhood Residential will seize opportunity in one ofa New South most desirable the opportunity to create brand newWales' precinct within the lifestylea destinations.

Zoned B2 Local Centrecurrent tourism site andand harbour new and innovative community.

Neighbourhood Residential Zoning

with a 28m height limit

Major Transport Links Nearby

For access to the data room please contact one of the exclusive agents.

Mark Litwin 0415 742 605 Grant Bulpett 0415 558 226 Excellent access to 761 Centrally Ross Cooper 0423 955 located to major arterial roads fantastic Brent Sinclair 0407 027 277 ammenities View Listing View Listing

– 2,012 sqm* combined site area

Situated moments from Dandenong bypass and allowing easy Dual street frontage to Yacaaba and Donald Street access – to both Eastlink and Springvale Rd, this property is sure – confidence Positioned ontoa any corner block to provide purchaser.

With Yarraman Railway Station,– Keysborough Secondary College and Parkmore The site has a slight to moderate gradient, sloping Shopping Centre in close proximity, this property is likely to from southeast to north west fulfill even the most particular of purchasers.

– The site is serviced with water and electricity

– Zoned B2 Local Centre with a 28m height limit

Stephen Kelly 0407for320 377residential flat building – DA approved a 56-unit plus 3 retail suites James Thorpe 0414 510 071

* Approx

*Approx.

1.27 ha* site

The Property Development Review

New South Wales

Connecting people & property, perfectly.

19 Croudace Road, Elermore Vale NSW. For Sale via Expressions of Interest closing Thursday, 4 June 2020 at 4pm (AEST).

2,570.8 sqm* site area

Zoned R2 Low Denisty Residential

450 sqm* minimum lot size

High profile location

10 km* to Newcastle CBD

1.2 km* to Elermore Vale Shopping Centre

Corner Residential Development Site.

This conveniently located site provides an exciting development opportuniy for villas, townhouses, boarding houses or child care centres (STCA). * Approx

Nick Lane 0428 910 591 Ross Cooper 0423 761 955 View Listing

* Approx

Connecting people & property, perfectly.

Lots 1101, 1103 & 1104 Ivory Close, Kinross Estate, Heatherbrae NSW. For Sale

Third stage release

Site areas from 4,407 sqm*

Zoned IN1 General Industrial

Design and construct packages available

Initial two stages sold out

13 km* to the M1

Attractive pricing

Industrial Land Opportunity.

Dan Barry 0437 558 085 Michael Boom 0410 764 599 View Listing

* Approx

The Property is conveniently located just off Camfield Drive, only 25 mins* to Newcastle CBD and surrounded by a range of established businesses including Reece Plumbing, Solo & Jayco Caravans.

* Approx

Property Listings

NSW

Connecting people & property, perfectly.

43 Date Street, Adamstown NSW. For Sale

1,683 sqm* site area

Zoned R4 High Density Residential

Concept plans for 33-35 apartments*

2:1 FSR

Dual street frontages

Desirable location

Development Site in Popular Suburb.

* Approx

This is a fantastic opportunity for developers to acquire a residential development site with favourable zoning allowances in the heart of one of Newcastle’s most desirable suburbs.

Brent Sinclair 0407 027 277 Ross Cooper 0423 761 955 View Listing

* Approx

Connecting people & property, perfectly.

79-83 Brunker Road & 70-74 Gosford Road, Broadmeadow NSW. For Sale

2,453 sqm* site area

Zoned R3 & R4 Residential

DA approved for 37 apartments

Dual street frontage

Shovel ready

10 min* to Newcastle CBD

DA Approved Residential Development.

Ross Cooper 0423 761 955 Brent Sinclair 0407 027 277 View Listing

* Approx

Exceptional opportunity to purchase a DA approved property ready for immediate development. DA for 37 residential apartments (mix of 1, 2 & 3 bedrooms) with onsite car accommodation.

* Approx

The Property Development Review

New South Wales

RAW DEVELOPMENT OPPORTUNITY FOR SALE 58 - 60 Eastern Valley Way, Northbirdge Exclusive agents Vin Commercial are thrilled to bring to the open market this premium lower north shore future redevelopment opportunity (STCA), situated at 58-60 Eastern Valley Way, Northbridge, Sydney, 2063.

Northbridge is a highly desired Lower North Shore suburb with a multitude of amenities right on its door step. Situated just 8.6km* north of Sydney CBD, the location is truly unrivalled. A developers dream in respect of the high demand market space, a homebuyers dream given the exclusive Northbridge postcode and host of amenities in close proximity.

Opportunities such as this do not come along often and are not to be overlooked.

This property is being sold via expressions of interest to be submitted digitally no later than 3pm (AEST) on Thursday 25th June 2020.

ARVIN GOLCHIN +61424 426 077

KEY FEATURES: Land area 1549.42sqm* Zoning - R3 Medium Density Building Height Limit -12m Floor space ratio 0.9:1 (*approximate)

NAVIN UPRETI +61403 322 950

Property Listings

NSW

492 Bunnerong Road, Matraville retail | residential FOR SALE

Expression of Interest Closes Thusday 11 June 5pm

McGrath Projects is excited to offer this small retail shop with potential development upside (STCA). Vacant Possession of this former CBA fitted out shop is provided to the astute investor or developer looking for their next opportunity.

WELCOME

Land size 421 sqm Zoning B2 Local Centre Area 3

AGENT

Michael Bevan 0418 484 692

The Property Development Review

New South Wales

▶ Suburb Report: Doncaster ▶ Victorian Listings ▶ The Interview: Danny Ciarma, Urban DC

VIC Melbourne 30 37.8136° S, 144.9631° E

Suburb Report

The Property Development Review

Situated 17km away from Melbourne, Doncaster is a mid-eastern suburb increasing in consideration thanks to its many Goldilocks attributes. The city is easily accessible, as too are the Yarra Valley and Dandenong Ranges. Some of Melbourne’s leading schooling options are neighbouring, while a number of quality local schools can be found within the suburb boundaries as well. Shopping and retail are in abundance and public transport is a breeze. Homes range from large family homes to affordable units to grand luxury penthouse apartments; there’s really a little bit for everyone in this blossoming neighbourhood.

Residents The 2019 estimated resident population of Doncaster was 24,878; an 18.8% increase since the 2016 census record of 20,946.

Between the 2011 and 2016 censuses, we can see a population growth 12.2% - indicating that Doncaster is experiencing accelerated growth in more recent years.

With its growing population, Doncaster’s age demographic is starting to fall. Its largest age group is currently occupied by the 2529 year olds, as compared to the 2016 census where a median age of 42 was recorded.

The suburb has historically been dominated by established and older families and couples – but this too is beginning to

change. New, modernist apartment buildings have drawn a younger crowd and emerging families are also finding their place among the crowd.

Culture Originally comprised of predominantly European decent, the residents of Doncaster are seeing a rising presence of Asian and Middle-Eastern cultures. This has brought significant charm to the neighbourhood as new eateries, bars and retail shops draw notable praise and further entrench Doncaster as the perfect ‘all-rounder’.

Residents can move easily from parklands to community markets, to plaza shopping, to the cinema. The new residential and commercial developments of the past four years have contributed to the appeal, while maintaining the natural ‘green’ aesthetic and sense of community.

House Prices As of 28 April 2020, the median price of houses for Doncaster was $1.25 million. While this is down from its 2017 peak, the number remains steady since the start of the year, with a promising prospect for the back half of 2020 and the years ahead.

Weekly median advertised rent is $540.

Project Spotlight: Folia — Apartments of Tullamore Featuring a carefully crafted collection of one, two and three-bedroom residences, Garden Terraces and Grand Penthouses, Folia is the latest chapter within the Apartments of Tullamore masterplan, spearheaded by Mirvac.

The 102-apartment complex rises up six storeys and will include green balconies, a rooftop conservatory and kitchen gardens.

The wider Tullamore development, expected to host 2,000 residents when complete, will also feature a cafe and health and fitness club.

Project Spotlight: Nest at the Hill Developed by Sin Heng Chan and designed

by K2Ld Architects, Nest At The Hill offers a mid-rise residential complex on a grand scale. Housing 253 apartments, townhouses, and penthouses spread across 12 floors, the building combines floor-to-ceiling glass with neutral textures from a light grey palette.

Residents will be able to enjoy retail outlets, cafes, and a fully equipped gym on the ground level. An open-air lap swimming pool can also be found on the first storey. A rooftop terrace reveals Melbourne’s illustrious skyline, while the expansive gardens help bring nature to the doorstep.

Unit Prices As of 28 April 2020, the median price of units was $575,000. This price

Image: Folia, Mirvac

31

Victoria

Greetings From: Doncaster

has remained relatively steady over the past five years. Weekly median advertised rent is $460.

Here’s what leading VIC agents are saying: MORE THAN DOUBLE THE ENQUIRY THAN ITS COMPETITORS Just wanted to send you a short note in relation to the outstanding levels of enquiry we have been receiving from DevelopmentReady.com.au on our latest campaigns. Development Ready has generated more than double the enquiry than all its other competitors combined and we are seeing a huge engagement from buyers visiting your portal. ON behalf of our vendors, thank you for the great service you provide and look forward to collaborating together for years to come.

DELIVERS EXCEPTIONAL ENQUIRY NUMBERS Development Ready is a sensational platform that delivers exceptional enquiry numbers and most importantly all their enquiries are always highly qualified. The DR team understand the market and industry better than any other internet service provider and their level of service to us and in turn our clients, is second to none.

BEN BAINES Director, Colliers International

JAMES THORPE Director, JLL Victoria

DEVELOPMENT READY IS A NON-NEGOTIABLE The developmentready.com.au portal is a non-negotiable for our team when we are transacting a property on-market.

We consistently get engagement from a broad range of new purchaser segments, purchasers that we otherwise would not have reached without use of the portal.

The support that the Development Ready team provide has been fantastic.

KANE MALCOLMSON Acquisitions Manager, Core Projects

32

Visit DevelopmentReady.com.au

CONSISTENTLY DELIVER HIGH QUALITY ENQUIRIES At CBRE Victorian Development Site Sales, we have found Development Ready to consistently deliver high quality enquiry.

The tailored nature to development sites has meant that buyers actively viewing listings on the site, know why they are there – to buy a development site.

JULIAN WHITE State Director, CBRE Victoria

Property Listings

VIC

The Property Development Review

Victoria

Property Listings: Development Sites for sale in Victoria

699 Park Street Brunswick

60 & 62 Ringwood Street Ringwood

1542-1544 High Street Glen Iris

53 Gipps Street Collingwood

Colliers CLICK TO VIEW

Colliers / TIGA CLICK TO VIEW

CBRE CLICK TO VIEW

CBRE CLICK TO VIEW

1071 Sayers Road Brunswick

260 Gunns Gully Road Beveridge

265 Lancefield Road Sunbury

130 Moore Road Sunbury

Allard Shelton / Savills CLICK TO VIEW

PSP CLICK TO VIEW

PSP CLICK TO VIEW

PSP CLICK TO VIEW

4104 Geelong Bacchus Marsh Road Parwan

Unit 20, 70 Warringa Crescent Hoppers Crossing

165-169 Nepean Highway Mentone

PSP CLICK TO VIEW

Gross Waddell CLICK TO VIEW

Vinci Carbone CLICK TO VIEW

33

Property Listings

VIC

For Sale:

60 & 62 Ringwood Street, Melbourne VIC 3134 LANDMARK RINGWOOD DEVELOPMENT OPPORTUNITY NEARBY RINGWOOD METROPOLITAN ACTIVITY CENTRE – Frontage: 31m* – Total landholding of 2,308m²* – Nearby Ringwood Metropolitan Activity Centre – Neighbourhood Residential Zoning (NRZ3) – Suitable for various development outcomes (STCA) – 9km* to Box Hill which is often touted as Melbourne’s second CBD Agents in Conjunction:

VIEW LISTING *Approximate

Tiga Commercial David Sia 谢忠佑 - 0430 111 223 Martin Leong 梁文伟 - 0425 699 708 Colliers International Joe Kairouz - 0421 430 638 Jun Lai 赖锦伟 - 0456 535 000

The Property Development Review

Victoria

Want to advertise in The Property Development Review?

Call 03 9631 5476 or Email enquiries@developmentready.com.au

DevelopmentReady.com.au

Property Listings

VIC

BALACLAVA

16-20 William Street

SUBSTANTIAL FREEHOLD WITH MULTIPLE OPTIONS For more information please contact: Joshua Colosimo

0413 790 309

Joseph Walton

0417 309 347

In conjunction with Savills Mark Stafford

0404 401 053

Jesse Radisich

0402 085 702

VIEW LISTING

FOOTSCRAY 7 Wightman Street

BOOMING INNER WEST DEVELOPMENT OPPORTUNITY For more information please contact: Michael Ryan

0433 180 199

Joseph Walton

0417 309 347

In conjunction with Vinci Carbone Frank Vinci

0418 375 375

Joshua Franzi

0428 253 430

VIEW LISTING

9654 3222

Level 3, 267 Collins St Melbourne allardshelton.com.au

The Property Development Review

Beveridge - Invest in the future of Melbourne’s North Victoria

260 Gunns Gully Road, Beveridge, VIC 3753 • 72.6 hectares*.

• 700+ Residential Lots [45.87ha] & 15.58 hectare in Merrifield North Employment PSP. • 72.60 hectares of prime development land in the future Beveridge South West PSP & Merrifield North PSP. • Located 33 kms from the Melbourne CBD. MANPREET DANDIWAL 0433 413 927 CAMERON YATES 0403 388 008 *approx

View Now

Level 13, 120 Collins Street, Melbourne

www.pspproperty.com.au

Development Opportunity in Prime Location 265 Lancefield Road, Sunbury, VIC, 3429 • 12.2ha/30 acres* • 38kms (approx.) from Melbourne CBD. • 20kms (approx.) to Melbourne Airport.

• Sunbury Town Centre is 6KM (approx.)

• Great Opportunity to invest in this Prime land.

MANPREET DANDIWAL 0433 413 927 CAMERON YATES 0403 388 008 *approx

View Now

Level 13, 120 Collins Street, Melbourne

www.pspproperty.com.au

Property Listings

VIC

Land Parcel In Sunbury West Urban Growth Zone 130 Moore Road, Sunbury, VIC, 3429 • 17 Acres* of land in UGZ (Urban Growth Zone) in Sunbury West PSP. • Easy access to Calder Freeway.

• 34kms (approx.) from Melbourne CBD. • 16min (approx.) to Melbourne Airport.

• Close proximity to Proposed Town Centre and Train Station.

MANPREET DANDIWAL 0433 413 927 CAMERON YATES 0403 388 008 *approx

View Now

Level 13, 120 Collins Street, Melbourne

www.pspproperty.com.au

Are you a Land Banker or Developer?

4104 Geelong-Bacchus Marsh Road, Parwan, VIC, 3340 • 131.76 hectares (*approx) • Potential Site development site.

• Forms part of Bacchus Marsh Urban Growth Framework Planprox.) from Melbourne CBD. • Exceptional landbank value uplift opportunity.

• 45 minutes approx to Melbourne CBD. MANPREET DANDIWAL 0433 413 927 CAMERON YATES 0403 388 008 *approx

View Now

Level 13, 120 Collins Street, Melbourne

www.pspproperty.com.au

The Property Development Review

VIEW LISTING

Victoria

For Sale: Unit 20, 70 Warringa Crs, Hoppers Crossing VIC 3029

Retail investment and value-add opportunity within the Woodville Park Shopping Centre - a neighbourhood shopping centre boasting 20 specialty shops, all individually titled.

Deadline Private Sale closing: Thursday �5th June at 3pm

– Sprawling retail freehold of 2,273m2* of building area – Anchored by Foodworks which occupies 462m2* with the balance offered vacant possession – Potential fully let rental in excess of $415,000* p.a.

– New 5 year lease to Foodworks commencing Nov-19

Danny Clark - 0448 066 889 Alex Ham - 0410 545 226

165 - 169 NEPEAN HIGHWAY INCL. 8 - 10 LOWER DANDENONG ROAD, MENTONE

BRILLIANT BAYSIDE DEVELOPMENT OPPORTUNITY

PERMIT APPROVED FOR 244 APARTMENTS PLUS SUPERMARKET / MEDICAL / LIQUOR / CAFE

VED P P R OTS A T I N P E R M APARTME

• Substantial land area of 7,315 sqm* with combined frontage of 126 metres*

244

• Commercial 1 zoning • Short distance to Mentone Train Station, Mentone Beach, Westfield Southland, DFO Moorabbin retailers and major banks • Adjoins Thrift Park Shopping Centre FOR SALE BY EXPRESSIONS OF INTEREST CLOSING THURSDAY 25 JUNE AT 4PM (AEST)

*Approx

ARTIST IMPRESSION

9654 3333 | vincicarbone.com.au

Joseph Carbone 0418 351 316

Frank Vinci 0418 375 375

Property Listings

VIC

TOGETHER WE BUILD.

www.transformerhomes.com.au

Become a Local Area Expert Today.

Join our already established team of experienced partners across the Development Ready platform. Your message & brand can exclusively appear with every property listing in your selected suburbs.

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THE IDEAL SITE TO FIND THE IDEAL SITE

Namuste essitatiae nos aute

volliquo mil earis dolento tassequ LESS SEARCHING. iberfer feriorp orepediaeris aute MORE nullessitam DEVELOPING. es ipicia dolo dicabo.

developmentready.com.au developmentready.com.au

LESS SEARCHING. MORE DEVELOPING.

Victoria

The Property Development Review

45'

Development Ready’s Rob Langton sat down with Danny Ciarma for a conversation that delved deep into his full history, 42 current market insights and plans for the future.

The Interview: Danny Ciarma, Urban DC

thirst for knowledge remained unquenched and he started seeking work on the private side. One day out of the blue, Morry Schwartz from Pan Urban, called Danny and asked him to lunch. It wasn’t an unusual request as the two had previously formed a relationship working together in the Docklands, but the lunch soon turned into a business proposition; Danny was to become the Managing Director of Pan Urban.

“Morry always worked on big projects, that was just how he was. When I joined, he had just started the GPO in Melbourne and so that became my first project. The biggest lessons that I took away were firstly, vision. Morry always had a big and clear vision that was well understood by those working with him. The second was the importance of marketing and creating a public persona for the project.”

When the GFC hit in 2008, Morry saw it has an opportunity to take a bit of a break and focus on his media company. Danny, however, was still rearing to go and so joined forces with Tim Gurner to found a new development firm named Urban INC. Quality development sites grew scarce, but funding was even more rare. The banks

himself. Now in complete control, Danny wanted his new firm to move in a different direction to Urban INC, where he had effectively mastered small apartment development.

“I wanted to move away from apartments as a form of commodity. I wanted larger lifestyle designs with a focus on quality finishings, aimed at an owner-occupier.”

Urban DC now operates in both Melbourne and Sydney, an unusual strategy for a small developer. Danny admits that while working between the two initially requires a lot of flying, once the project is underway, he’s only needed in Sydney once a fortnight. For him to achieve this balance he makes sure to set the project and his vision correctly from the first signing of the contract.

The latest proposal to join his intentionally reduced pipeline, is a Frankston residential project for which he only just gained approval for in May 2020. This southern bayside village is completely untapped, according to Danny.

“I think that there’s a huge market there and no one has really delivered a product for it. The property sits on a high sand dune within the CBD and is undoubtedly one of the best sites in the area, offering water views from the ground floor. But more than just the site-specific attributes, Frankston itself is flanked by some very wealthy suburbs. Mount Eliza, Mount Martha and Frankston South all have considerable cash within them – and I know that there’s a catchment there of owner-occupiers that want to downsize. They don’t want to move into the city, they want to stay around where they raised their family.”

From Urban DC’s first project, Oscar Brighton, right through to its recent Frankston approval, a stylistic flair is immediately apparent. Danny is not the architect behind the plans, but it’s evident that his tertiary education plays a significant role in the final designs.

“I’m very descriptive with my vision and with what materials I want. I also always make sure I’m especially explicit on how the buildings are going to pitched in a sales context.”

Danny has clearly absorbed a lot from those around him through the course of his still young career. His philosophy and business aptitude reflect just that, and you can hear the respect that he has for his mentors and peers in the way that he describes them.

He may operate today as a one-man-show at Urban DC, but he brings to the table a wealth of expertise collated from a career of many successful collaborations.

"I'm especially explicit on how the buildings are going to pitched in a sales context."

Image: Development Ready

were limiting lending to $10 million and the dynamic duo were almost fresh out of luck, Luckily Danny remembered a small site in West Melbourne that Morry had purchased around three years prior. Its size meant that it had been unsuitable for Pan Urban, but it had the potential to become the perfect first project for the new venture. Morry agreed, and signed on as Urban INC’s first landlord.

From there Urban INC grew rapidly. The market became inflated with properties that couldn’t be bought because the banks weren’t lending; it was a turbulent time. Danny and Tim started contacting a wide range of agents and started negotiating development agreements. In 2011, after two years of deal making, Urban INC had garnered around 20 individual sites.

As Tim and Danny developed different aspirations for their futures, Urban INC drew to a close. Tim wanted to chase bigger projects, with more staff, while Danny wanted to go smaller, doing just two or three at a time.

It was an amicable separation which resulted in the births of GURNER™ and Urban DC.

True to his aspiration, Urban DC is a small operation – in fact it’s just Danny Ciarma

43

Victoria

The son of a builder, Danny has lived and breathed property his entire life. He grew up around working sites and admittedly still gets a hit of nostalgia when freshly sawn timber is nearby.

As an admirer of American architect Frank Lloyd Wright, Danny was drawn into the romantic world of design. As a child he would pour over his father’s hand-drawn blueprints in the family garage and at the age of six, he announced that he knew what he wanted to do when he was older.

This childhood dream stayed with him and after high school he took up a six-year architecture degree at Deakin University in Geelong.

“Studying architecture taught me the importance of good design and the importance of place making. It’s definitely something that has still stuck with me through to today.” Danny reminisced during a conversation with Development Ready’s Rob Langton.

Beyond just learning how to walk and talk like an architect, Danny’s degree taught him how to measure up a building for a feasibility report. This was ultimately the economics of architecture and an important lesson as he began to think about architecture from a developer’s perspective.

Following university Danny filled shoes as a project manager at Village Roadshow. He had completed his last two years of his degree at the company, gaining his formal architect accreditation, but found the real world of architecture somewhat unfulfilling.

“I wanted to transition from architecture to project management, which was a somewhat difficult task at the time. Thankfully I knew the senior figures at Village Roadshow and they were able to give me go.”

After six years at Village, and a stint developing their first multi-plex site in Geneva, Danny felt it was time to move on. With eyes firmly fixed on becoming a developer, the next step was going to be critical.

“I wanted to change environments. The Docklands re-gentrification was one of the biggest projects in Australia at the time – it was 170 hectares of industrial land designated for repurposing. I knew it was where I had to be.”

As a Development Director with Docklands Authority, Danny was in charge of negotiating development agreements with the Batman’s Hill and Victoria Harbour precincts. This included all of Australia’s most recognised firms, which not only expanded his professional network but more importantly revealed the various ways in which each company structured their deals.

After a few years in the Docklands, Danny

The Property Development Review

▶ Suburb Report: Fortitude Valley ▶ Queensland Listings

QLD Brisbane 44 27.4698° S, 153.0251° E

Suburb Report

The Property Development Review

Greetings From: Fortitude Valley April 2020. As more high-end living alternatives enter the area, seeking to meet demand, this number has potential to climb. The current weekly median advertised rent is $420.

Project Spotlight: FV GURNER are leading this world-class residential development, aimed at offering the high-level service of a six-star hotel to its residents. Elenberg Fra-

Project Spotlight: Utopia Space The 26-storey Utopia Space is a recently completed urban residential hub in the middle of Fortitude Valley. Sandt Developments spearheaded the project with Hutcherson Builders employed for construction and Kris Kowalski Architects for the design.

Residents As of the 2016 Census, the population in Fortitude Valley was 6,978. The median age was significantly lower compared to the rest of the state at just 31 – this is unsurprising given that the Valley has not expressly tailored itself towards families.

Records in the census reveal that 67.3% of its residents were aged between 20 and 40, with only 7% of its residents aged under 20 years old. Young professionals and students are the prominent demographic.

Culture Situated on a northern bend of the Brisbane River, just minutes from the CBD, Fortitude Valley is famous for its vibrant nightlife and entertainment. Its central positioning enables easy access from all directions, pulling all types of people who are easily catered for by the melange of different offerings. Grungy in some parts, highend elegance in others, there’s something for everyone and in between. The James Street Precinct in particular has demonstrated how top tier establishments feel right at home.

Residents love the walkability of the Valley. They can walk to work, walk to China Town, and there’s no need for cabs at night; movies, the theatre and bars are all on the doorstep. Ultimately Fortitude Valley serves up one pretty perfect inner-city life.

House Prices With this neighbourhood being dominated by apartment buildings, house price data is too scarce to report on.

Unit Prices Holding reasonably steady over the past five years, units in Fortitude Valley recorded a median price $390,000 as of 28

Image: FV, Gurner

45

Queensland

The inner-city’s hedonistic hot spot, Fortitude Valley is a thriving suburb that has earned a trend-setter status among Brisbane’s food, art and music scenes. Renowned for its grungy identity and eclectic culture, the Valley attracts a vast array of people from working professionals to young enthusiastic revellers. Yet it’s not all noise and electricity; between the restaurants, clubs and retail shops, quiet pockets of residential existence still thrive. For residents who are unwaveringly city-centric and potentially priced out of nearby New Farm and Newstead, Fortitude Valley has become desirable destination number one.

ser has been enlisted for the design, which will see 267 individual apartments, 70 shortterm hotel style accommodation suites, two penthouses and many prestigious amenities spread throughout the building. The Ground Level hosts a lobby bar and retail amenity; Level 5 is occupied by a business club, private dining room, bar and lounge; and the Rooftop presents a curved skyline pool, two private spa areas with BBQ, bar, lounge and dining areas.

Here’s what leading QLD agents are saying: THE LEVEL ENQUIRY FAR OUTWEIGHS OTHERS The Jared Johnson & Lachlan Marshall Team would like to personally endorse the Development Ready platform. The level of genuine enquiry we receive on development sites we're marketing far outweighs any other commercial property platform. The team are an extremely professional outfit, they are diligent, analytical and above all helpful. We could not recommend Rob and the team highly enough.

JARED JOHNSON Property Specialist, Ray White Special Projects

STRONG LEVELS OF ENQUIRY The Colliers Site Sales team utilises Development Ready for all on-market listings due to the strong levels of enquiry we receive from their platform. Given their national platform and wide reaching database, we see qualified parties being filtered through on our sale offerings. Rob, TC & the wider team have been great to deal with and always ensure we are up to date with new service offerings and opportunities.

ADAM RUBIE Residential Development Sites Manager, Colliers International

46

Visit DevelopmentReady.com.au

PROFESSIONAL AND A PLEASURE TO WORK WITH Ray White Commercial Industrial Gold Coast has been engaging with Development Ready for a number of years now. Myself and our sales team are always happy with the quantity and quality of enquiry that is received off their various platforms and furthermore, the Development Ready team are extremely professional and are a pleasure to work with.

GREGORY BELL Director, Ray White Commercial Gold Coast

INVALUABLE SOURCE OF HIGH QUALITY ENQUIRY DR has been an invaluable source of high quality enquiry for my development site sales, especially when targeting interstate and international purchasers. I find a listing on DR is an essential part of all my development sale campaigns and continually recommend their listing packages to vendors.

CARL CHARALAMBOUS Managing Director, C Property

Property Listings

QLD

The Property Development Review

Queensland

For Sale: 300 South Pine Road Brendale QLD 4500

Main Road Position Prime Development Potential • 57,329sqm* of Prime Land • 3,500sqm* (Approx.) of existing buildings

Cushman & Wakefield is delighted to offer this rare Industrial/Commercial land holding to the market for sale, 300 South Pine Road is being offered for sale via Expression of Interest (EOI). 300 South Pine Road Brendale is located approximately 20 radial kilometres north of the Brisbane CBD. The location benefits from exceptional connectivity to the Bruce Highway and the Gateway Motorway both North and Southbound. Major occupiers within the immediate area include Super Retail Group, Aldi, Ball & Doggett, Bunnings, Officeworks, TJM, ARB, and VIP Packaging to name a few.

View Listing

• Flexible site • Prime development potential (STCA) • Mixture of offices & warehouse • Holding income from multiple tenants • Unrivaled main road exposure • Fantastic growth corridor of Brisbane • Direct access to the Bruce Highway via Linkfield Road

• Expression of Interest (EOI) closing 4PM (AEST), Thursday 4th of June.

Morgan Ruig 0403 149 828 morgan.ruig@cushwake.com

Mitch Taulelei 0447 548 885 mitch.taulelei@cushwake.com

Property Listings

QLD

FOR SALE 24 Manilla Street East Brisbane QLD 4169 NEAR-CITY OPPORTUNITY LIKE NO OTHER!

> Favourable mixed-use zoned 1,215* sqm land parcel > Substantial development upside with favourable 30 metre frontage (8 to 10 level potential) > Versatile 1,519* sqm office/ showroom/ warehouse building > 2 container height roller doors & potential for multiple tenancies – occupy all or part of the building > Generous on-site car parking > Potential to value-add by increasing the floor area (expand existing mezzanine or extend level 1 over the car park) > Easy access to the CBD, Port of Brisbane, Brisbane Airport, Clem 7 & The Inner City Bypass. > Please note: The adjoining property at 155 Wellington Road is also available for sale.

View Listing Carl Charalambous

0422 804 462

carl@cpropertyqld.com.au

* Approx

The Property Development Review

183 Wickham Terrace, Spring Hill QLD 4000 On behalf of The United Service Club Queensland, Savills are pleased to present 183 Wickham Terrace, Spring Hill to the market.

Closing Date for Offers 4PM Thursday 16th July

A conforming proposal is for a leasehold development however a non-conforming proposal may be submitted that may offer freehold or a mix of leasehold and freehold.

– – – – –

Robert Dunne 0418 888 840

Will Carman 0477 666 355

More Exposure More Competition Record Prices

Commercial development Opportunity (STCA) Significant 5,690sqm* inner city development site Zoned PC1 Principal centre (City Centre) Elevated position with aspect Strong connectivity to transport, amenities and leisure precincts as a result of proximity to Brisbane CBD.

VIEW LISTING

Queensland

SUBSTANTIAL DEVELOPMENT OPPORTUNITY

▶ In Conversation: Nigel Satterly, Satterly Property Group ▶ Suburb Report: Leederville ▶ Western Australia Listings

WA Perth 50 31.9505° S, 115.8605° E

In Conversation: Nigel Satterley, Satterley Property Group

The Property Development Review

Nigel Satterley is one of the most prominent residential land developers to come out of Western Australia.

In 1980, Nigel moved into land development and through the establishment of the Satterley Property Group, pioneered new strategies for master-planned estates. The benefits were far reaching and saw higher standards set for community amenities and family lifestyle.

Satterley Property Group has now sold more than 60,000 residential lots and controls a land bank of around 37,000 lots. It is estimated that more than 250,000 people in Western Australia live on home lots built by the Satterley Property Group on 160 different residential estates.

Nigel has earned his reputation as a sought-after expert on Australian residential housing markets and cycles, and has taken on advisory roles to the Australian Federal Government, as well as at all levels of government, to improve housing affordability.

In 2006, he received membership of the Order of Australia for his contribution to land development, urban renewal programs and to charity, medical research and sport. Last year, he was honoured with a Doctor of Busi-

ness from the Edith Cowan University for the contribution to the WA housing industry and his philanthropic activities in the community.

Development Ready’s Robert Langton was joined by this industry doyen for a robust discussion concerning the path and learnings that have led to Nigel’s 40-year success story as well as a dissection of the state and shape of WA’s future. Watch, take notes and enjoy.

27' Watch Now

Image: The West

Image: Image

51

Western Australia

Born and bred in the wheatbelt town of Cunderdin, Nigel made the pilgrimage to the state capital as a teenager, bounding in with little experience, interminable energy and an insatiable thirst for knowledge. As he crossed into his twenties, Nigel demonstrated competence and maturity that surpassed his years, earning him new shoes as the WA State representative for Levi Jeans.

Always on the go and continually absorbing his surrounds, he soon became a wellknown face on St George’s Terrace. Among the leading authorities of the finance and investment sectors who gave him advice, were B.F. Prindiville and Sir James McCusker. It was Sir James, the former banker and founder of Town and Country Building Society, who advised Nigel to go into home building.

Leveraging a neat $10,000 profit that he earned from his first real estate transaction, Nigel formed Statesman Homes. It was not long after, that this new company took its place among the leading builders in WA; Statesman had grown to sell up to 650 homes a year.

Suburb Report

Greetings From: Leederville For many new homeowners looking for an entry point into Perth’s inner-city housing market, Leederville has become front of mind.

The suburb is positioned around three kilometres northwest of the CBD and displays a very attractive blend of vintage character and edge. The atmosphere is energetic and palpable, and with a number of affordable and well-designed mixed-use developments starting to pop-up, this somewhat yesteryear neighbourhood is experiencing a re-birth.

Residents The 2020 estimated population for Leederville is 3,691; by the year 2036 this is estimated to increase to 5,539 – an approximately 50% increase. As of the latest census, the median age was 33 with residents aged between 25 and 34 making up the predominate age demographic.

Apartments still only account for 20% of the total dwellings, providing good scope for the redevelopment of blocks into smart high-density operations that draw an eager crowd.

Culture As more young, creative and open-minded types continue to take up shop and residence, Leederville will grow even more dynamic and desirable. Its proximity to the city is a plus, with the Mitchell Freeway and Leederville train station offering

Image: Aston 238

52

easy commutes. The main vein of the neighbourhood, Oxford Street, thrives with many hedonistic ventures, including cafes, restaurants and bars. Aesthetically retro and with a progressive air to it, the reasons that Leederville has grown in stature are plain to see – and its future looks bright as a result.

House Prices Leederville’s popularity has helped it escape much of the market’s sharp ups and downs, keeping a relatively steady median house price over the past nine years.

As of 28 April 2020, it was $850,000. Weekly median advertised rent is $500.

Aston 238’s team of interior designers to create their own customised version of their new living space.

Project Spotlight: The Foundry Led by local developers Megara, The Foundry presents an assortment of 30 one, two and three bedroom residences, with a limited number of top-level penthouse apartments; pricing starts at $389,000 and climbs up to $1.099 million.

Located at 636 Newcastle Street, the project features oversized apartment designs, customisable homes, entertaining balconies, city views and significant greenery.

Unit Prices Unit developments have fared well in this suburb and as such a similar steady line median price story can be told.

As of 28 April 2020, it was $475,000. Weekly median advertised rent is $400.

Project Spotlight: Aston 238 SUIDA International Development are nearing completion of this extraordinary mixed-use project in the heart of Oxford Street. Across the 2,400sqm block, architects MJA Studio have designed a mid-rise, five-storey building which plays home to a collection of 47 elegant apartments with a selection of retail and gourmet outlets on the ground floor.

New owners have the option to work with

This somewhat yesteryear neighbourhood is experiencing a re-birth.

The Property Development Review

Here’s what leading agents are saying: AN INVALUABLE SALES TOOL WHEN SELLING TASMANIAN DEVELOPMENT SITES With Tasmania currently experiencing unprecedented interest from national and international development groups, we have found DR’s globally connected database to be fundamental in ensuring we are presenting property listings to all prospective buyers. The DR listing package has now become one of our “first picked” sales tools when advising a listing package to vendors of development sites.

GEORGE BURBURY Director, Knight Frank Hobart

OFFERING EXCELLENT VALUE IN TERMS OF COST PER LEAD Development Ready continually delivers high volumes of qualified leads to our campaigns, whilst also offering excellent value for money in terms of cost per lead.

The team are always happy to provide tailored marketing packages for us to suit each individual campaign and we’ll continue to use the platform moving forward. We will continue to use, and promote our properties through Development Ready.

THE PLATFORMS’ UNIQUE NETWORK GENERATES LEADS Just want to say that since we’ve utilised the Development Ready platform since it first launched into South Australia, we have been impressed with its results. The platforms’ unique developer network generates targeted leads from both local and interstate buyers – We include Development Ready in all applicable marketing schedules. Keep up the good work."

OLIVER TOTANI Director, Knight Frank Adelaide

DEVELOPMENT READY IS AN EXCELLENT PLATFORM I find this platform provides the right advertising to engage with the exact clientele and target market for my listing. The leads and quality of enquiry allow me to work much more efficiently compared to many other generic platforms. Thanks team!

MARCO SCHINELLA Sales Partner, Agency Avenue Schinellas

BRIAN NEO Director, LJ Hooker Commercial Perth

Visit DevelopmentReady.com.au

53

Property Listings

WA

FOR SALE

PREMIUM HIGH EXPOSURE DEVELOPMENT SITE WA, Mandurah: 310 (Lot 802) Pinjarra Road VIEW LISTING

Outline Indicative Only

Outline Indicative Only

PREMIUM HIGH EXPOSURE DEVELOPMENT SITE + Versatile 6,045sqm* development site

+ Service Commercial and Residential zoning

+ Adjacent Mandurah Forum Shopping Centre

+ To suit fast food, medical, showroom or childcare

+ Adjoins BP service station

+ Triple street frontage/access

PLEASE CONTACT AGENTS FOR FURTHER INFORMATION

BEN YOUNGER

0410 533 679

JAKE WALLMAN

0403 975 298

*approx

The Property Development Review

Perth CBD 50km*

Foreshore 1.2km* Palm Beach 700m* Rockingham Beach Primary School

Western Australia

ROCKINGHAM Lot 1512 Lake Street and Lot 5000 Fisher Street Infill Development Site LJ Hooker Commercial Perth, as Exclusive Selling Agents, are pleased to introduce the sale of Lot 1512 Lake Street and Lot 5000 Fisher Street, Rockingham. An infill development site with 2 street frontage, positioned on a prominent high profile corner.

Having obtained Planning Approval for the development, the property is no longer required by the Seller.

A total land area of 38,600sqm* and zoned ‘Development’ R60, this regular shaped corner property will provide the astute developer a blank canvas to design their vision with all services available, subject to Development Approval.

Staging this infill development opportunity should allow for flexibility and variety of product.

ljhcommercial.com.au

For Sale: Offers Invited Closing 2pm (AWST) Friday 19th June 2020.

High Profile corner location Zoned ‘Development’ R60 Density with approved LSP 700m* to Palm Beach 1.2km* to Rockingham Foreshore Opposite Rockingham Beach Primary School Walking distance to Mangles Bay

Vincent Siciliano Brian Neo

0488 355 535 0411 868 486

08 9220 2200 Commercial Perth

*approx.

▶ Suburb Report: Kent Town ▶ South Australia Listings

SA Adelaide 56 34.9285° S, 138.6007° E

Suburb Report

The Property Development Review

Greetings From: Kent Town Only 2.6km east of the Adelaide CBD, there are some obvious reasons why Kent Town has proved popular with tenants and home-owners alike. If heading to work in the CBD, residents require just a leisurely stroll through Rymill Park, and if heading to school, Kent Town is home to one of Adelaide’s most prestigious schools, Prince Alfred College. St Peter’s College and the University of Adelaide are also nearby. There are hip neighbourhood cafés and bars, plenty of hidden retail gems and a solid mix of modern and historic architecture. Kent Town may be small, but it’s a mighty locale to be.

number has largely held its own over the past few years, with new developments offering a range of prices for new apartments, depending on size and amenity. Weekly median advertised rent is $440.

Project Spotlight: Royal Apartments Located on the site of the ‘Royal Terrace Hotel’ carpark, in Kent Town, this unique 13-storey residential development presents an iconic design that includes ground floor retail, a podium level garden and contemporary finishes to the 1, 2 and 3 bedroom residences within. Offering easy access to parklands and the Adelaide CBD, this development will also de-

liver outstanding views of the city skyline for most of its 123 residences.

Flagship Group are leading the project with designs by Woods Bagot.

Project Spotlight: East Park East Park blends the luxury of the eastern suburbs with the conveniences of city living. Positioned at 1 King William Street in Kent Town, East Park overlooks Adelaide's famous parklands and Botanical Gardens with 107 apartments across 12-storeys.

Local family-owned developer Palumbo led the now complete project.

South Australia

Residents The 2020 estimated population for Kent Town is 1,279; an increase of just 69 since the 2016 census. The city and university proximity put it high on the list for students and working professionals, keeping the median age low at 34 when compared to the state median of 40.

The tightly held nature of the neighbourhood is evident in the latest census, which revealed that detached homes made up just 9.7% of total dwellings. Within this mix of townhouses and apartment complexes, renters dominate the sphere proving Kent Town as a sought-after investment destination.

Culture In spite of its remarkably small size, Kent Town sure packs a lot in. The warehouse-chic Tell Henry keeps locals hydrated and caffeinated, while The Parade leads right into Norwood’s nearby bustling retail precinct for the fun kind of therapy. At night the renowned Tap Inn serves up a spread of delicious tapas and pub meals, while punters steam through balls at the indoor golf driving range.

The streets are lined by modern townhouses and apartments, such as the converted Brewery Apartments on Dequetteville Terrace, with space for some modest homes too. Residents may attest that rents are on the high side, but they’re willing to pay for their slice of it.

House Prices With this neighbourhood being dominated by apartment buildings, house price data is too scarce to report on.

Unit Prices As of 28 April 2020 the median unit price sits at a steady $715,000. This

Image: Royal Apartments, Flagship Group

57

Property Listings

SA

Here’s what leading agents are saying: SA-BASED SITES ARE EXPOSED TO NEW AUDIENCES The commercial sales team at JLL Adelaide has been very impressed with the Development Ready offerings and the level of enquiry we receive through the platform. We have found that by listing SA-based sites on Development Ready we have been exposed to an audience that we weren’t previously in front of, with a high proportion of enquiries through the site coming from interstate buyers. We now include a Development Ready package as standard in all of our development site marketing campaigns.

JED HARLEY Sales & Investments, JLL Adelaide

WE HAVE EXPERIENCED GREAT RESULTS EVERY TIME Salt Property Group have been utilising the promotional tools and strategies offered by Development Ready to sell development sites for the last couple of years. We have experienced great results every time we’ve used Development Ready which is why it is now an integral part of our marketing campaigns for development sites.

DANE MCKNIGHT Sales & Marketing, SALT Property

58

Visit DevelopmentReady.com.au

DR PROVIDED US WITH A FULL MEDIA CAPABILITY The Industrial and Commercial teams in Adelaide have appreciated your teams help with promoting our listings throughout the year and in particular for the work you did for us with the video for the Thebarton Square campaign at the end of 2019.

Development Ready is an excellent platform that delivers targeted exposure to a broad range of developers.

PAUL TIERNY National Industrial Director, Colliers International

DR GENERATES A MORE POSITIVE & QUALIFIED BUYER Given many of Knight Frank instructions are purely development sites we find Development Ready a fantastic promotion tool which aims directly at our target market without being mixed up with other property types on other web sites. The site generates a more positive and qualified buyer for us to try a secure a sale.

TONY DELICH Director of Investment Sales, Knight Frank Perth

The Property Development Review

FOR SALE CAPTIAL CITY DEVELOPMENT OPPORTUNITY NESTLED IN CBD WEST 9 TATHAM STREET, ADELAIDE SA 5000

South Australia

MITCH CURNOW 0415 494 056

+ 810sqm* site area + 23m* frontage to Tatham Street + Located between Franklin and Waymouth Street

HARRY EINARSON 0421 747 442

+ Zoned Capital City - No Policy Area + Flexible zoning allowing for high-density residential, office and aged care uses + Currently utilised as car parking providing a gross income of $60,000pa* FOR SALE VIA EOI CLOSING THURSDAY 11TH JUNE 2020 4PM (ACST) property.cbre.com.au

VIEW LISTING

Property Listings

SA

Shovel ready development site

For sale Penny’s Village, Harrison Rd Pennington SA

– Residential development site of 12,400sqm*

For sale by Private Treaty Jed Harley 0418 807 920 Roger Klem 0423 919 373 property.jll.com.au/307819

– Approvals in place for 46 allotments – Significant infrastructure already completed – Sales centre, marketing collateral and buyer database included *Approx.

RLA1842

The Property Development Review

61

▶ Suburb Report: Dickson

ACT Canberra 62 35.2809° S, 149.1300° E

The Property Development Review

Greetings From: Dickson

Residents Population between the 2011 and 2016 censuses increased by just 10 people to 2,149. Unfortunately, current forecast data does not yet exist. However, with several residential developments both recently completed and soon-to-be, this number is expected to escalate subsequent to next year’s official count.

Australia’s Capital Territory is a young state; the median age broadly is just 35, three years lower compared to the rest of the nation – and in Dickson, it’s even lower at 31. Young

Image: Soho Precinct

families and young professionals dominate the residential sphere. But space is the place here, with homes of three bedrooms or more accounting for 63.5% of total dwellings.

Culture Heralded as a suburb of choice for young families and professionals, Dickson has something for everyone. Large home blocks with contemporary charm sit in between new swanky apartment complexes that offer patrons luxury amenity. Exploring the streets is a foodie’s wonderland, with a large number of restaurants and cafés leaving you spoiled for choice.

Dickson is also blessed with ample transport options thanks to the light rail interchange and several bus stops throughout.

All the necessities, from a library, to gyms, to pubs, to health food shops and training ovals are present and accounted for too.

While it may appear that Dickson already has everything it could ever need, the neighbourhood is evolving. New projects, both residential and commercial, are underway and with them comes further dynamism and appeal. It’s up and up for this capital treasure.

House Prices The median house price in Dickson has performed well over the past seven years, experiencing a strong rise in

Unit Prices Apartments reveal a similar storey with the median unit price increasing from $369,000 in 2016 to $571,000 as of 28 April 2020. Weekly median advertised rent is $500.

Project Spotlight: Soho Precinct Developer Art Group are bringing the world-wide acclaimed Soho House brand to Australia’s political capital for what is possibly Dickson’s most coveted new development. This multi-faceted cultural and professional destination encompasses a substantial 2.9-hectare site and will include a residential offering set within a hospitality precinct known as Soho Gardens.

Mulberry, its residential arm, accounts for 409 residences across six buildings; 78 one-bedroom units, 294 two-bedroom units and 19 three-bedroom apartments. A further 18 one and two-storey terrace apartments are on offer as well as 42 adaptable units for people with disabilities. There’s also space for 644 cars at the entry off Dooring Street.

The project includes considerable domestic features such as exclusive electric bike sharing by BYKKO, Popcar car sharing service, refrigeration lockers, video intercom, free wi-fi and embedded network services.

Rooftop gardens are planned on three of the buildings – including a pool garden, an edible garden and a "Zen garden". The project is currently in construction phase.

63

Aus. Capital Territory

Located in Canberra’s inner-north, the relatively new settlement of Dickson is famous for its large houses and leafy streets. Established in the 1960s, the neighbourhood has become one of the capital’s most sought-after, especially by families and young professionals. With its relaxed and easy-going atmosphere, Dickson acts as the commercial epicentre of the region, appeasing its denizens with a village-like living style. It’s also famous for being the home of the Australian Broadcasting Corporation’s (ABC) Canberra radio and television studios. With occupancy famously tight across the board, Dickson reveals its strength not just as a residential hotspot, but as a secure destination for commercial ventures too.

value as more of the neighbourhood evolves.

As of 28 April 2020, the median house price was $888,000. Weekly median advertised rent is $600.

▶ Suburb Report: Newtown ▶ Tasmania Listings

TAS Hobart 64 42.8821° S, 147.3272° E

Suburb Profile

The Property Development Review

Greetings From: Newtown Despite its name, New Town is in fact one of the oldest suburbs in Hobart. Located 4km north of Hobart’s centre along the Derwent River, this historic neighbourhood was home to the some of the first free settlers of the region. Quaint federation houses are spread throughout, with an ample mix of other architectural styles too, including; Art Deco, Georgian, Italianate and Colonial. Its CBD proximity has long been a draw card and vacancies continue to tighten as people try and wedge their way in.

Residents Population between the 2011 and 2016 censuses saw a nominal increase of just 2.5% to reach 6,122. With limited forecast data available, current accurate figures are not obtainable. However, with a spate of new residential developments, numbers are on the rise. The unit market in particular has been growing consistently over the recent fiveyear period, with short campaigns and expedient settlements.

Due to its location, New Town has attracted a broad demographic of people who are represented fairly evenly across all agegroups. Within this mix, we also see a near even split between family households and those living alone. Interestingly, detached

homes account for 67.5% of the total dwellings, leaving significant room for apartment and townhouse re-development.

Culture Beautiful tree lined streets compliment attractive architectural streetscapes and make for a lovely walk around the neighbourhood. New Town is a residential suburb, in every sense of the word, belying its short distance to the city centre and offering a sense of community that adds to its appeal.

Cafés and restaurants are dotted throughout, with the Cornelian Bay Boathouse offering a standout riverside option. The suburb is also home to the more than 100-year-old New Town Primary School, as well as two single gender public high-schools and a Catholic school. There’s even a major local shopping centre for all commercial needs meaning that there’s very little need to travel too far from home.

House Prices On a steady rise since 2013, when it sat at $381,000, New Town now commands a median house price of $680,000.

With unceasing demand this trend looks likely to continue, meaning that it’s best to enter the neighbourhood sooner rather than later. Weekly median advertised rent is $538.

Unit Prices Apartments reveal a similar storey and have consistently performed well in this neighbourhood. As of 28 April 2020, the median unit price was $400,000. Weekly median advertised rent is $360.

Project Spotlight: New Town Retail Precinct Upgrade One of the neighbourhood’s most significant current development would have to be the upgrading of its local retail precinct. The design, as developed by the City of Hobart, will further define and reinvigorate New Town’s community hub at the Cross and Valentine streets' intersections with New Town Road. New pedestrian amenity will be provided across the Roope, Pirie and Pedder streets' intersections along with improved crossing points.

New dining and sitting areas will further enhance the communal atmosphere, with new trees, plants and street furniture to be installed as well. The council have even earmarked new space for events, markets and other community activities.

Image: New Town Retail Precinct Upgrade, The City of Hobart

65

TAS

Connecting people & property, perfectly.

Connecting people & property, perfectly.

Spring Valley Park

Melbourne CBD 29km*

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1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC.

1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC.

For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

73A New Town Road, Exceptional in-fill site with optionality.

New Town, TAS, 7008.

1.27 ha* site

1 Ferry Boulevard, Exceptional in-fill site with optionality.

George Town, TAS, 7253.

Perfectly positioned for a prime residential development this magnificent site abuts Keysborough Primary School encompassed within a strong residential area. Under the Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new precinct within the current site and harbour a new and innovative community.

Neighbourhood Residential Zoning

1.27 ha* site

INNER RESIDENTIAL INFILL SITE

– – –

AVAILABLE INDIVIDUALLY OR AS PACKAGE

Unique infill development site Situated moments from Dandenong bypass and allowing easy MajorResidential Transport Zoned: Inner access to both Eastlink and Springvale Rd, this property is sure Links Nearby provide confidence to any purchaser. With Yarraman Railway 5 Minutes to Hobart CBDto Station, Keysborough Secondary College and Parkmore

Huge development potential

Stephen Kelly 0407 320 377

Centrally located to fantastic ammenities

View Listing

James Thorpe 0414 510 071

*Approx.

Shopping Centre in close proximity, this property is likely to fulfill even the most particular of purchasers.

Excellent access to major arterial roads

Perfectly positioned for a prime residential development this magnificent site abuts Keysborough Primary School encompassed within a strong residential area. Under the Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new precinct within the current site and harbour a new and innovative community.

Neighbourhood Residential Zoning

– Each allotment has un-encumbered bay-side & river views.

Situated moments from Dandenong bypass and allowing easy Major Transportbuilding – Each has surveyed envelopes andRd,all access to both Eastlinkon andtitle Springvale thisblocks property is sure Links Nearby to provide confidence to any purchaser. With Yarraman Railway are fully serviced.

Station, Keysborough Secondary College and Parkmore Shopping Centrea in rare close proximity, this property is likely to – Without doubt, the allotments form chance to acquire fulfill even the most particular of purchasers. absolute water-front living.

Huge development potential

Excellent access to major arterial roads

Stephen Kelly 0407 320 377

Centrally located to fantastic ammenities

View Listing

James Thorpe 0414 510 071

View Listing

View Listing

Connecting people & property, perfectly.

Connecting people & property, perfectly.

Spring Valley Park

Melbourne CBD 29km*

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1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC.

1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC.

For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

74 Sugarloaf Road, Exceptional in-fill site with optionality.

Risdon Vale, TAS, 7016.

1.27 ha* site

Neighbourhood Residential Zoning

200 Campbell Street, Exceptional in-fill site with optionality.

North Hobart, TAS, 7000.

Perfectly positioned for a prime residential development this magnificent site abuts Keysborough Primary School encompassed within a strong residential area. Under the Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new precinct within the current site and harbour a new and innovative community.

1.27 ha* site

PRICE REDUCTION: CONTACT AGENT

– Exclusive opportunity to purchase a DA approved, 132 Situated moments from Dandenong bypass and allowing easy residentialMajor lot Transport subdivision.access to both Eastlink and Springvale Rd, this property is sure Links Nearby to provide confidence to any purchaser. With Yarraman Railway – The properties are located in a developing new homes area Station, Keysborough Secondary College and Parkmore Centre in close proximity, this property is likely to in the southern section ofShopping Risdon Vale. fulfill even the most particular of purchasers.

– Approx. 10 kilometres north of Hobarts City Centre.

View Listing

Centrally located to fantastic ammenities

Stephen Kelly 0407 320 377 James Thorpe 0414 510 071

*Approx.

View Listing

Neighbourhood Residential Zoning

Perfectly positioned for a prime residential development this magnificent site abuts Keysborough Primary School encompassed within a strong residential area. Under the Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new precinct within the current site and harbour a new and innovative community.

RE-DEVELOPMENT OPP. LOCATION

Huge development potential

Excellent access to major arterial roads

*Approx.

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Spring Valley Park

Melbourne CBD 29km*

Retail Strip

– High profile re-development site Situated moments from Dandenong bypass and allowing easy Major Transport – Suit a multitude of uses (STCA) access to both Eastlink and Springvale Rd, this property is sure Links Nearby to provide confidence to any purchaser. With Yarraman Railway – Convenient location Station, Keysborough Secondary College and Parkmore in close proximity, thisresidential, property is likely to – Suitable for a multitude ofShopping uses;Centre including office, fulfill even the most particular of purchasers. student accommodation and showroom (STCA).

Huge development potential

Excellent access to major arterial roads

View Listing

View Listing

Centrally located to fantastic ammenities

Stephen Kelly 0407 320 377 James Thorpe 0414 510 071

*Approx.

Property Listings

The Property Development Review

Connecting people & property, perfectly.

Connecting people & property, perfectly.

Spring Valley Park

Melbourne CBD 29km*

Retail Strip

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1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC.

1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC.

For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

Whitestone Point, Exceptional in-fill site with optionality.

Austins Ferry, TAS, 7011.

1.27 ha* site

209-215 Harrington Street, Exceptional in-fill site with optionality.

Hobart, TAS, 7000.

Perfectly positioned for a prime residential development this magnificent site abuts Keysborough Primary School encompassed within a strong residential area. Under the Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new precinct within the current site and harbour a new and innovative community.

Neighbourhood Residential Zoning

1.27 ha* site

COMMERCIAL USE LAND SUBDIVISION

READY, SET, BUILD - DA APPROVED SITE

– Local Business zone land Situated moments from Dandenong bypass and allowing easy Major Transport – Suit multiple commercial usesto(STCA) access both Eastlink and Springvale Rd, this property is sure Links Nearby to provide confidence to any purchaser. With Yarraman Railway – Purchase one or all Station, Keysborough Secondary College and Parkmore Centre proximity, this property is likely – Approximately 5,716 sqm Shopping with all lotsin close fronting what will be a to fulfill even the most particular of purchasers. main thoroughfare of the new precinct.

Stephen Kelly 0407 320 377

Centrally located to fantastic ammenities

View Listing

James Thorpe 0414 510 071

*Approx.

Huge development potential

Excellent access to major arterial roads

Perfectly positioned for a prime residential development this magnificent site abuts Keysborough Primary School encompassed within a strong residential area. Under the Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new precinct within the current site and harbour a new and innovative community.

Neighbourhood Residential Zoning

– Prime Hobart Inner City Development Site Situated moments from Dandenong bypass and allowing easy Major Transport + 2access – DA for 39 apartments Commercials to both Eastlink and Springvale Rd, this property is sure Links Nearby to provide confidence to any purchaser. With Yarraman Railway – Good holding income from car parks Station, Keysborough Secondary College and Parkmore Shopping Centre in close proximity, this property isand likely to – Close proximity to the University of Tasmania’s precinct fulfill even the most particular of purchasers.

North Hobart’s popular restaurant and cafe strip.

Huge development potential

Excellent access to major arterial roads

Stephen Kelly 0407 320 377

Centrally located to fantastic ammenities

View Listing

James Thorpe 0414 510 071

View Listing

View Listing

Connecting people & property, perfectly.

Connecting people & property, perfectly.

Spring Valley Park

Melbourne CBD 29km*

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Melbourne CBD 29km*

Retail Strip

1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC.

For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

318 Argyle Street, North Exceptional in-fill site with optionality.

Hobart, TAS, 7000.

Neighbourhood Residential Zoning

70 Channel Highway, Exceptional in-fill site with optionality.

Kingston, TAS, 7050.

Perfectly positioned for a prime residential development this magnificent site abuts Keysborough Primary School encompassed within a strong residential area. Under the Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new precinct within the current site and harbour a new and innovative community.

1.27 ha* site

HIGH EXPOSURE DEVELOPMENT SITE

– Zoning: Light Industrial Situated moments from Dandenong bypass and allowing easy Major Transport – Corner location on busy streets access to both Eastlink and Springvale Rd, this property is sure Links Nearby provide confidence to any purchaser. With Yarraman Railway – Combined frontage of 60to sqm (approx) Station, Keysborough Secondary College and Parkmore Shopping close proximity,and this property is likely to – Surrounded with a mix of retail, Centre lightinindustrial fulfill even the most particular of purchasers. residential uses.

View Listing

Centrally located to fantastic ammenities

Stephen Kelly 0407 320 377 James Thorpe 0414 510 071

*Approx.

View Listing

Neighbourhood Residential Zoning

Perfectly positioned for a prime residential development this magnificent site abuts Keysborough Primary School encompassed within a strong residential area. Under the Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new precinct within the current site and harbour a new and innovative community.

PERMIT APPROVED

Huge development potential

Excellent access to major arterial roads

Tasmania

1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC.

1.27 ha* site

*Approx.

Keysborough Primary School

Pa te

– Development approval for 20 Lots Situated moments from Dandenong bypass and allowing easy Major Transport upside – Potential for density (STCA) access to both Eastlink and Springvale Rd, this property is sure Links Nearby provide confidence to any purchaser. With Yarraman Railway – North facing with views ofto Mt Wellington Station, Keysborough Secondary College and Parkmore in close proximity, this property – Permit approved boutiqueShopping land Centre subdivision in one of is likely to fulfill even the most particular of purchasers.

Tasmania’s fastest growing suburbs.

Huge development potential

Excellent access to major arterial roads

View Listing

View Listing

Centrally located to fantastic ammenities

Stephen Kelly 0407 320 377 James Thorpe 0414 510 071

*Approx.

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Spring Valley Park

Melbourne CBD 29km*

Retail Strip

TAS

Connecting people & property, perfectly.

Connecting people & property, perfectly.

Spring Valley Park

Melbourne CBD 29km*

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1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC.

1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC.

For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

1 Friend Street, Exceptional in-fill site with optionality.

Devonport, TAS, 7310.

1.27 ha* site

9 Noble Drive, Exceptional in-fill site with optionality.

New Town, TAS, 7008.

Perfectly positioned for a prime residential development this magnificent site abuts Keysborough Primary School encompassed within a strong residential area. Under the Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new precinct within the current site and harbour a new and innovative community.

Neighbourhood Residential Zoning

1.27 ha* site

STRATEGIC DEVELOPMENT OPPORTUNITY

Situated moments from Dandenong bypass and allowing easy

Stephen Kelly 0407 320 377

Centrally located to fantastic ammenities

View Listing

James Thorpe 0414 510 071

*Approx.

Excellent access to major arterial roads

Perfectly positioned for a prime residential development this magnificent site abuts Keysborough Primary School encompassed within a strong residential area. Under the Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new precinct within the current site and harbour a new and innovative community.

DA APPROVED STANDALONE DWELLINGS

Major&Transport access to both Eastlink and Springvale Rd, this property is sure – Homemaker Industrial precinct Links Nearby to provide confidence to any purchaser. With Yarraman Railway – Adjacent to busy Bulky Goods PrecinctSecondary College and Parkmore Station, Keysborough Shopping Centre in close proximity, this property is likely to – Lots 16 & 17 are levelled and ready! fulfill even the most particular of purchasers.

– Available for sale individually or as a “sale in one line”.

Huge development potential

Neighbourhood Residential Zoning

View Listing

– Large level 981 sqm allotment with 36 metre street frontage Situated moments from Dandenong bypass and allowing easy Major Transport houses, – DA for 2 standalone with separate cross over access to both Eastlink and Springvale Rd, this access property is sure Links Nearby to provide confidence to any purchaser. With Yarraman Railway – Ideal opportunity for a builder/developer Station, Keysborough Secondary College and Parkmore Shopping Centre in close proximity, this property is likely to – Situated in the highly sought after and well performing fulfill even the most particular of purchasers.

Garrington Park subdivision in New Town

Huge development potential

Excellent access to major arterial roads

View Listing

Centrally located to fantastic ammenities

Stephen Kelly 0407 320 377 James Thorpe 0414 510 071

View Listing

Want to advertise in The Property Development Review?

Connecting people & property, perfectly.

Call 03 9631 5476 or Email enquiries@developmentready.com.au

Spring Valley Park

Melbourne CBD 29km* Retail Strip

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1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC. For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

47-53a Invermay Road, Exceptional in-fill site with optionality.

Invermay, TAS, 7248.

1.27 ha* site

Neighbourhood Residential Zoning

Perfectly positioned for a prime residential development this magnificent site abuts Keysborough Primary School encompassed within a strong residential area. Under the Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new precinct within the current site and harbour a new and innovative community.

A PREMIUM INVESTMENT

– 10 Year lease with 2 x 5 year options Situated moments from Dandenong bypass and allowing easy Transport – Location isMajor a short 750 meters to the City Centre. access tostroll both Eastlink and Springvale Rd, this property is sure Links Nearby to provide confidence to any purchaser. With Yarraman Railway – Positioned opposite the Inveresk precinct, being the Station, Keysborough Secondary College and Parkmore Shopping Centre in close proximity, this property isto likely to proposed site for the University of Tasmania relocation fulfill even the most particular of purchasers. inner city Launceston.

Excellent access to major arterial roads

View Listing

View Listing

Centrally located to fantastic ammenities

Stephen Kelly 0407 320 377 James Thorpe 0414 510 071

*Approx.

Huge development potential

DevelopmentReady.com.au

*Approx.

Property Listings

The Property Development Review

Tasmania

▶ Northern Territory Listings

NT Darwin 70 12.4634° S, 130.8456° E

Property Listings

NT

The Property Development Review

Connecting people & property, perfectly.

Spring Valley Park

Melbourne CBD 29km* Retail Strip

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1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC. For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

2 Harvey Street, Darwin.

Exceptional in-fill site with optionality.

For Sale

8,470 Sqm (*approx)

Huge development potential

Perfectly positioned for a prime residential development this magnificent site abuts Keysborough Primary School ALREADY SERVICED AND TITLED encompassed within a strong residential area. Under the READY, SET...DEVELOP! Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new within the Knight Frank is pleased to offer Forprecinct Sale an exciting Create a World Class currentfuture site and harbour aopportunity new and innovative community. development located in the Precinct

Neighbourhood Residential Zoning

Development in stages

Major Transport Links Nearby

Matthew Knight 0413 058 020 Excellent access to Centrally located to Peter McVann 0412 833 276 major arterial roads fantastic ammenities View Listing View Listing

– Good passing traffic exposure.

– Real opportunity for strong capital growth.

Stephen Kelly – No Land0407 Tax! 320 377 – Stunning Harbour Views.

James Thorpe 0414 510 071

* Approx

Northern Territory

For further information, please contact the exclusively listed agents below.

on Garramilla. The site offers sensational views over

Situated moments Dandenong and allowing easy Frances Bay. from Centrally positionedbypass within recently accessidentified to both Eastlink Springvale Rd, this property strategicand focus areas for future CBD growth. is sure to provide confidence to any purchaser.

With Yarraman Railway – 6 fully serviced Torrens Titled CBD allotments.

Station,– Keysborough Secondary College and Parkmore Prominent site on the main road entry into Darwin CBD. Shopping intoclose proximity, this property is likely to – Centre Frontage the recently completed high profile fulfill even Garramilla the most particular Boulevard. of purchasers. *Approx.

1.27 ha* site

Property Listings

NT

Connecting people & property, perfectly.

Spring Valley Park

Melbourne CBD 29km* Retail Strip

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Crown Allotment 2272, Darren Road, Springvale South

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1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC. For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

11 Gardens Hill Crescent, The Gardens, NT, 0820 Exceptional site with optionality.

FOR SALE: Price reduced for Genuine Salein-fill at $990,000

1150 m2* (*approx)

Huge development potential

Neighbourhood Residential Zoning Residential Townhouse Sites

Major Transport Links Nearby

For further information, please contact the exclusively listed agent below.

Peter McVann 0412 833 276 Excellent access to Centrally located to Peter.mcvann@au.knightfrank.com major arterial roads

View Listing View Listing

fantastic ammenities

Perfectly positioned for a prime residential development this magnificent abutsREADY Keysborough Primary School VACANTsite LAND encompassed within a strong residential area. Under the FOR DEVELOPMENT Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new precinct within the Knight Frank is pleased to offer For Sale an exciting development in a vacant current residential site and harbour a newopportunity and innovative community. allotment in the upmarket suburb of The Gardens.

SituatedWith moments Dandenong bypass and previousfrom approval to develop into four x 3allowing easy townhouses. access bedroom to both Eastlink and Springvale Rd, this property is sure to provide confidence to any purchaser. With Yarraman Railway Highly soughtSecondary after location Station,–Keysborough College and Parkmore – Zoned – MD (Multiple Dwelling) Shopping Centre in close proximity, this property is likely to – Niche suburb within walking distance to the Darwin CBD fulfill even the most particular of purchasers.

– Close to all facilities, Gardens Park Golf Course, Mindle Beach Sunset Markets, The Botanic Gardens Subdivide into smaller allotments (two maybe three Stephen allotments) Kelly 0407 320 377 (STC) –

James Thorpe 0414 510 071

*Approx.

1.27 ha* site

The Property Development Review

Connecting people & property, perfectly.

Spring Valley Park

Melbourne CBD 29km* Retail Strip

pass

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no Dande

oad Springvale R Pa te

Keysborough Primary School

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Co o o ra R

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Crown Allotment 2272, Darren Road, Springvale South

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1.27 ha* site in Springvale South Crown Allotment 2272, Darren Road, Springval South VIC. For Sale by Auction on-site Thursdayday, 20 June at 2pm (AEST).

6 Moo Street, Berrimah, Northern Territory, 0828 Exceptional in-fill to site with optionality.

FOR SALE: Make an offer today.

Price Reduced sell $995,000 Neighbourhood Residential Zoning

2230 m2* (*approx)

Refurb or Develop

Huge development potential

Major Transport Links Nearby

Peter McVann 0412 276 located to Excellent access to 833 Centrally Peter.mcvann@au.knightfrank.com major arterial roads fantastic ammenities View Listing View Listing

Located on a high exposure corner allotment with

Situatedfrontage moments from Dandenong bypass allowing of 30 metres to Berrimah Road,and which is the easy access main to both Eastlink and Springvale Rd,(Australia this property is sure road linking Stuart Highway with and) the Darwin Port. Justto offany thepurchaser.

Stuart Highway BerrimahRailway to provide confidence Withand Yarraman intersection.

6 Moo street offers and a fantastic central Station,road Keysborough Secondary College Parkmore location within the greater Darwin Shopping Centre in close proximity, thisarea. property is likely to fulfill even most – the 2230 m2* particular of purchasers.

– –

Fully Fitted out Offices 290 m² Approx.

Located in the epicentre of Darwin between Darwin and 377 the Northern Suburbs.

Stephen CBD, KellyPalmerston 0407 320

James Thorpe 0414 510 071

Northern Territory

For further information, please contact the exclusively listed agent below.

Perfectly positioned for a prime residential development this magnificent site abutsHIGH Keysborough Primary School AFFORDABLLE EXPOSURE encompassed within a strong residential area. Under the DEVELOPMENT SITE Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new precinct within the Knight Frank is pleased to offer For Sale an exciting current high site exposure and harbour a new and innovative development opportunity in community.

Berrimah.

*Approx.

1.27 ha* site

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