Issue #18 | The Property Development Review by The Property Development Review By Development Ready

#18

November / December 2020

The Interviews: Joseph Gersh AM Matt Spring Ozzie Kheir Mark Stevens Aussies In America Around The Country: Market Moves National Site Listings

Media Kit Looking for a commercial 2020 â&#x20AC;&#x201C; 2021 investment property? Search on CommercialReady

Visit commercialready.com.au for more info.

Inside Issue #16

From the CEO

Welcome To The December Issue Of The Property Development Review. Wow! the holiday season is upon us – where did the year go? 2020 is surely a year that will be prominent in all our memories. Despite all the hurdles, the overall outlook from a number of senior industry commentators is that Australian real estate in 2021 will remain positive in most sectors especially commercial. In this issue we continue our series of feature interviews with prominent industry figures:

The Interview: Joseph Gersh AM Executive Chairman - Gersh Investments

Joseph Gersh AM Joe is Founder and Chairman of Gersh Investment Partners - a specialist real estate investment company. As a highly-regarded businessmen, lawyer and strategic advisor, Joe’s career has incorporated major directorships which included the Reserve Bank of Australia and the ABC. He is also a proud contributor to numerous philanthropic causes. In this interview, Joe’s expansive industry knowledge and insightfulness are a testament to his reputation. Ozzie Kheir

The Interview: Ozzie Kheir Director - Resimax Group

Ozzie is Founder & Managing Director of the Resimax Group. He is a truly fascinating entrepreneur with interests not just in property but also in hotels, hospitality and thoroughbred racing. Today, Resimax has a reputation as one of Australia's most dynamic and diversified property groups and in this interview, Ozzie shares his property journey and insights. Highly informative and entertaining. Matt Spring Matt is the Managing Director at Vantage, a boutique funds manager in the value-add property investment sector - its origins date back 35 years to Matt’s father. Vantage assesses all their investment opportunities from a definitive set of qualitative guidelines - Matt shares these and many more insights. Mark Stevens

The Interview: Matt Spring, Managing Director - Vantage Property Investments

Mark founded Kokoda Property in 1997. Today, Kokoda Property's brand has become synonymous with high-quality craftsmanship in projects across Melbourne and Brisbane. In this interview Mark reveals how his business pushes the envelope and thinks outside the traditional methods employed by other developers. Aussies in America Making Their Mark Rob Langton recently sat down with two Aussie expats, Grant Smillie and Nick Stone who are currently stamping their entrepreneur mark in the USA. Grant and Nick are based in Los Angeles. Both are in the hospitality industry albeit different sectors and linked by their shared focus on providing Australian service for an American audience. Hear how assessing property locations has played a significant role in their respective businesses. More Articles, Latest Development Site Listings & Market Moves More industry related articles, the latest development sites for sale plus a summary of recent sold activity Australia-wide. Enjoy the read, enjoy the holidays and importantly keep well.

The Interview: Mark Stevens Managing Director -Kokoda Property

Nick Materia, CEO, Ready Media Group On The Cover Joseph Gersh AM Gersh Investments

The Interview: Aussies in America Grant Smillie & Nick Stone

Design & Direction Cam Norris

Editor in Chief Rob Langton, Development Ready

Advertising Enquiries Ted Lloyd ted@ developmentready.com.au

Editor Jack Gaffney, Development Ready

Editorial Enquiries editor@ developmentready.com.au

Contact TPDR Level 1, 167-169 Buckhurst Street, South Melbourne VIC 3205 Tel. 03 9631 5476 info@ developmentready.com.au

Market Moves

Market Moves: Around the Country VIC

In a month where we saw restrictions ease, Richmond take home another AFL Grand Final Cup, Melbourne Storm clinch the NRL title, important state and international elections, among many other important moments, you could feel the change of season and sentiment in the air â&#x20AC;&#x201C; and with a number of high profile sales across the country, the property sector was enjoying a similar trend as well. A distribution centre in Melbourne's north, that was built by German supermarket group Kaufland but was never occupied, sold for around $83 million to Fife Capital. Kaufland paid $33.6 million for the 28-hectare site, which is located in MAB Corporation's Merrifield Business Park, in June 2018. The supermarket group had planned to invest $459 million in its Melbourne logistics hub, but has since decided to pull out of the country. 02

The building that plays home to Louis Vuitton at the Paris end of Collins Street traded hands, with a Singaporean investor swooping in to scoop up the prized asset for a speculated $65 million. Once the home of the Alexandra Club, a private club for women, the four-storey building was built in 1886 and has a National Trust classification. Time & Place secured a promising development site in Southbank from New Sky Group for $29 million. Located at 84-90 Queens Bridge Street, at the intersection with Kings Way, the developer has already committed to plans for a 62-level apartment tower, working with Callum Fraser for a new design. The site previously held approval for a 41-level residential building, known as 88 Melbourne. In what was surely one of the fastest campaigns of the year, a VicRoads centre in Melbourne's east, which is currently under construction, sold for $9.3 million after just three days of being on the market. VicRoads have signed on to the mixed-use project, located in The

Image: Australian Bragg Centre, Adelaide - courtesy Woods Bagot

Base Ringwood complex at 93A Heatherdale Road in Ringwood, for an initial 12-year lease term with a commencing net annual rental of $469,580. The Vermont South Medical Centre in Melbourne's outer ring changed ownership for $51.7 million together with a day surgery in Hobart for $5.6 million. The assets will be added to a recently launched unlisted Centuria Healthcare Property Fund, which includes several smaller properties and will now value the fund at over $155 million.

NSW

Dexus traded in a North Sydney office tower to Hong Kong investor Huge Linkage for $273 million â&#x20AC;&#x201C; a 3% premium on its book value as of 30 June 2020. Located at 60 Miller Street, the 17-level tower offered 19,350sqm of office space. Dexus Chief Investment Officer, Ross

The Property Development Review

Parkstone, an Adelaide-based fund manager scooped up two regional shopping centres in NSW for a combined $37.25 million. Both assets were Woolworths supermarkets located in Orange and Cootamundra. Woolworths Cootamundra, located at 26 Bourke Street, includes a full-line supermarket and a BWS liquor store with more than 4,100sqm of NLA. The property was last sold for $9.4 million in 2003. Woolworths Orange, located at 197-203 Anson Street, offers 3,338sqm of NLA. US private equity group Blackstone offloaded the Bayview Centre, a smaller-sized shopping centre south of Wollongong, for $35 million as part of its strategy to sell down its Australian retail portfolio. In portfolio news, funds management platform Centuria Capital Group splashed around in the private day and short-stay hospital sector, spending a total of $112.8 million for controlling interest in three assets; the Bloomfield Medical Centre in Orange NSW for $55.5 million

QLD

The Acacia Ridge Business Park, located at 1502 Beaudesert Road in Brisbane's south, traded from American private equity giant Blackstone to logistics platform ESR for more than $90 million. The new owners will include the 18-hectare property in its $1 billion Australia Development Partnership, which focuses on developing its own assets within the premium logistics facility sector as a result of increased demands of e-commerce. The firm will add a further 100,000sqm of logistics to the business park, which was originally developed by Macquarie-Goodman and includes a large distribution centre operated by convenience store chain Spar Australia. Du Vernet, said the sale demonstrated a strong appetite for Australian office assets from private capital. An industrial developer picked up the latest slice of CSR Limited’s PGH Bricks plant in Horsley Park for $84.3 million. The piece was the third part of 327-335 Burley Road to be sold off since 2018. The first was sold in early 2018 to Frasers Property Australia, who secured a 10 Ha portion for $58 million. Then just under a year ago, the second slice was sold; 20.8 Ha to ESR for $142.5 million. The global pandemic has not slowed down interest in the Australian higher education sector, with Singaporean Wee Hur Holdings buying a BP Service station for $46.1 million, with plans to develop a purpose-built student accommodation (PBSA) facility in the inner-city suburb of Redfern, just 3km south of the Sydney CBD. Located at 104-116 Regent Street, Redfern, the site has potential to go to 18-storeys on the 1,366sqm site. The property has capacity for 384 beds, subject to council approval.

The Woolloongabba Community Health Centre in Brisbane’s inner south has successfully sold for $37 million to Elanor Investors Group (ENN), and will feature as one of three portfolio properties in a healthcare retail fund worth $161 million. Located at 228 Logan Road, the property occupies a 4,150sqm site within a major healthcare precinct, close to Princess Alexandra Hospital. The state government’s Metro South Health Department is the sole tenant of the health centre. Another prominent sale in Acacia Ridge recently took place with an investor syndicate picking up an industrial property at 131 Beenleigh Road for $17.75 million. The incoming owners have already announced plans to demolish one of the offices on site and to further refurbish the improvements which will be marketed for lease.

been the home of the PCYC Fortitude Valley. The site was sold with development approval for a new facility for the PCYC, as well as a 12-storey office building on the subdivided subject site; Willemsen Group, however, are expected to propose a redesign for approval by Christmas.

South Australia saw some significant sales make headlines across the month, first up with Dexus acquiring the Australian Bragg Medical Centre in 50/50 partner deal with the unlisted healthcare fund it manages for $446.2 million. The sale is noted as one of the largest single-asset private acquisitions within healthcare real estate and takes Dexus’s overall healthcare exposure past $1 billion, while concurrently lifting the partnered, unlisted fund's portfolio to $900 million. Acquired from developer Commercial & General, the centre will be a clinical and research facility within Adelaide’s $3.6 billion BioMed City precinct. Charter Hall also made moves, strengthening its national commercial portfolio with the purchase of two Adelaide office buildings for $51 million from South Australian based investor, 1835 Capital. 60 Wakefield Street and 21 Divett Place, Adelaide boast a 12 year triple net lease to the SA Government, and comprise a significant 4,500sqm land holding in the core of the CBD. Staying in the CBD, where the home of radio station Nova traded hands, securing $40.5 million thanks to the new owners Harmony Property Investments, a locally-based funds manager. Located at 75 Hindmarsh Square, the six-level building offers 4,700sqm of NLA and is currently leased to Nova Entertainment, Lidums Dental and the Office of the National Rail Safety Regulator with average weighted lease expiry of 3.8 years. The asset previously sold for $21.8 million in 2007.

Out west, and Fiveight, a company of Tattarang specialising in property development and investment, recently settled for $55 million on the acquisition of 190 St Georges Terrace in Perth’s CBD. The A-Grade office tower offers more than 9,200sqm of leasable floorspace across 12-storeys.

And in the city centre, a Fortitude Valley corner development site was scooped up by Canberra -based development company Willemsen Group for $11.5 million. 458 Wickham Street offers 1,275sqm of landholding and has long 03

The Interview: Ozzie Kheir

Joseph Gersh AM

Executive Chairman - Gersh Investments Joseph Gersh AM is the Executive Chairman of Gersh Investment Partners - a specialist real estate investment firm focused specifically on property finance, property development and principal real estate transactions. Joe is a highly-regarded businessmen, lawyer and strategic advisor across the public and private sectors - his career has included Directorships on the Reserve Bank of Australia Payments Board, Federal Airports Corporation & Australia Council for the Arts. In 2018, he was also appointed to the Board of the ABC by the Turnbull Government. Joe is a proud contributor to numerous philanthropic causes within the arts & Jewish communities. Watch the full interview now.

38' Click play to listen to The Interview with Joseph Gersh AM in full. Interview: Rob Langton, Development Ready

The Interview: Joseph Gersh AM

The Property Development Review

Ozzie Kheir

Director - Resimax Group Ozzie Kheir is Founder & Managing Director of Resimax Group - one of Australia's most dynamic and diversified property groups. Outside of property, Ozzie is a highly respected entrepreneur with interests not just in property but also in hotels, hospitality and thoughbreed racing. Ozzie is the owner of Melbourneâ&#x20AC;&#x2122;s Adelphi Hotel, Baroq House and the Bond Bar and in addition has also achieved the rare feat of winning both The Everest and the Melbourne Cup, amongst many other Group 1 races across Australia. Watch the full interview now.

23' Click play to listen to The Interview with Ozzie Kheir in full. Interview: Rob Langton, Development Ready

The Interview: Matt Spring

Matt Spring

Managing Director - Vantage Property Investments Matt Spring is the Managing Director at Vantage, a boutique funds manager in the value-add property investment sector. The firm was co-founded by Mattâ&#x20AC;&#x2122;s father Peter Spring in 1985, with an ideology that has stayed tried and true during the 35 years of operation. â&#x20AC;&#x153;We look at them (opportunities) all differently. Generally speaking, however, from a qualitative perspective, we target multi-storey and multitenanted buildings. Corner locations are ideal, with good natural light, and floor plates that can be divided easily to accommodate any tenant demand.â&#x20AC;? Listen to the full interview now.

31' Click play to listen to The Interview with Matt Spring in full. Interview: Rob Langton, Development Ready

The Interview: Mark Stevens

The Property Development Review

Mark Stevens

Managing Director -Kokoda Property Mark Stevens founded Kokoda Property in 1997, following a career in the retail industry which concluded with his position as a board member of Jeans West. His vision was to bring a new level of luxury and sophistication to new residential builds across Melbourne's most revered suburbs. Today, Kokoda Property's brand has become synonymous with high-quality craftsmanship in projects across Melbourne and in subsequent years in Brisbane. Mark's enthusiasm for pushing the envelope and thinking outside the traditional methods employed by other developers have contributed to his on-going success. Watch the full interview now.

38' Click play to listen to The Interview with Mark Stevens in full. Interview: Rob Langton, Development Ready

New South Wales Listings

SYD. 33.8688° S 151.2093° E

NSW 08

Property Listings

NSW

The Property Development Review

DA APPROVED, CONTRIBUTIONS PAID! Key Features:

• • • • • • • • • •

Expansive double site of 1292 SQM* Substantial 860sqm land holding DA approved for 22 apartments, 7 x studio,

11 x 1 bed, 3 x 2bed, 1 x3 bed

R1 Zoning, 1.1:1 FSR, 17m height limit Approved FSR of 1.51:1 allowing 1303sqm of gross

floor area

11 apartments to be allocated for affordable rental

Demolition complete, s7.11 Contributions paid

5 George Street, Marrickville, NSW 2204 Adam Charles is delighted to offer for sale 5 George Street, Marrickville, a DA approved site for 22 apartments in a dress circle location.

Highly efficient design with single basement Premier Marrickville address, equidistant to

5 George Street, Marrickville will be offered for sale via Auction, 3rd December 2020 at Cooley Auction centre, Level 5, 1 Margaret Street, Sydney. To request a copy of the information memorandum or due

housing for 10 years

Marrickville and Dulwich Hill train station

Walking distance to Dulwich Hill and Marrickville

town centre

*Approx.

diligence information, please contact the exclusive agents.

Adam Charles - 2/32-34 Bunn Street, Pyrmont, NSW

Call: Adam Bodon 0402 700 786 09

Property Listings

NSW

BOUTIQUE DEVELOPMENT SITE ON THE EDGE OF MARRICKVILLE SHOPPING VILLAGE! Key Features:

• • •

594.4 square metre regular site* North to rear aspect Flexible R1 Zoning, 14m height limit, up to .85:1

FSR for RFB and 1.35:1 for new age boarding

• • • •

house (STCA)

Boarding house or multi dwelling housing

development (STCA)

On the edge of Marrickville shopping village,

323 Marrickville Rd, Marrickville, NSW 2204 Adam Charles are delighted to offer to the market a boutique develop-

adjoining Marrick and Co by Mirvac

Approximately 700m to Marrickville train station Multiple bus routes at your doorstep Potential for a boutique residential flat building,

ment opportunity on the edge of Marrickville town centre. 323 Marrickville Road provides the astute investor or developer an opportunity to secure a versatile development site with multiple development angles. The property is offered for sale by Auction, 26th November, 10.30am at

•

Scheme prepared for lodgment of a 26 room

new age boarding house

Cooley Auction centre, Level 5, 1 Margaret street, Sydney. To request a copy of the information memorandum or due diligence material, please contact the exclusive marketing agents.

Adam Charles - 2/32-34 Bunn Street, Pyrmont, NSW 10

Call: Adam Bodon 0402 700 786

*Approx.

Property Listings

NSW

The Property Development Review

DA APPROVED INNER WEST GEM! Key Features:

• • • • • • • •

635 square metre site area* R3 Medium density residential zoning, 0.7:1 FSR Approved FSR of 0.85:1 providing for 548sqm of

Gross floor area, with 125 sqm of affordable GFA

DA approved for 8 apartments, 1 Studio,

4 x oversize 1 bed, 3 x 2 bed

Approximately 350m to Summer Hill train station Clear site, no demolition required Blue ribbon Gower Street address

33 Gower Street, Summer Hill, NSW 2130 Adam Charles are delighted to offer to the market a DA approved development site in a highly sought after Inner west location. The property is offered for sale by Auction, 3rd December, 10.30am at

Potential for other uses including Boarding house

or multi dwelling housing development (STCA)

*Approx.

Cooley Auction centre, Level 5, 1 Margaret street, Sydney. To request a copy of the information memorandum or due diligence material, please contact the exclusive marketing agents

Adam Charles - 2/32-34 Bunn Street, Pyrmont, NSW

Call: Adam Bodon 0402 700 786 11

Property Listings

NSW

Accelerating success.

C ROW S NEST’S TALL EST M I X E D - US E DE V E LOP ME NT SIT E^ FOR SALE by International Expressions of Interest closing Thursday 3rd December 2020 at 4pm (AEDT) ‘MetroView’, 378-390 Pacific Highway, Crows Nest

Site Area 1,309m2*

Mixed Use^ FSR 7.5:1^ 24 Storey Height^

Unlock panoramic views

Perfect corner position with dual access

colliers.com.au/p-AUS66011274

25m* Crows Nest Metro 500m* St Leonards Station

Henry Burke 0418 238 636

Tom Appleby 0405 693 696

Guillaume Volz 0404 887 717

Steam Leung 0412 236 138

*Approx. ^STCA

Property Listings

NSW

The Property Development Review

Accelerating success.

TOONGABBIES BEST DEVELOPMENT OPPORTUNIT Y FOR SALE via Public Auction on Thursday, 3 December 2020 at 10:30am (AEDT) 18-24 PORTICO PARADE, TOONGABBIE

Jordan McConnell 0419 990 295 Frank Oliveri 0419 018 356 Approval for 28 Units & Commercial

Desirable Unit Mix

Exisiting Commercial Pre-sales

Holding Income

developmentready.com.au/properties/18-24-portico-parade-toongabbie-nsw-2146-29652

Property Listings

NSW

BLUE RIBBON DA APPROVED DEVELOPMENT SITE!

170 Blackwall Road, Woy Woy, NSW, 2256 5 separate Titles, DA approved plans, meters to the waterfront & walking distance to shops and train station! • 3,705 m2 R1 zone on a corner site with 2 street access • Offering 5 Separate property Titles, Blue Ribbon Location. • Under GLEP 2014 this site has the benefit of a .85:1 FSR & 11.0 metre height limit, potentially giving water view from 3rd level • Only 700 metres to CBD, shops & station • Landmark Apartment Development in Woy Woy • DA comprises of a mixture of 1, 2 & 3 bedroom apartments + multi story terrace homes • DA is for 27 apartments & 7 Townhouses • North aspect to street side apartments with private balcony's • Prime location just a stroll to Waterfront • The Central Coast NSW population forecast for 2020 is •

350,505, and is forecast to grow to 414,615 by 2036 The Central Coast is at the centre of New South Wales' fastest growingcorridor from the northern edge of Sydney to Newcastle

For more information contact

Andrew Quilkey 04212 00330 Ian Willis 04217 80513.

Property Listings

NSW

The Property Development Review

Accelerating success.

LOW E R NO RTH S H O RE BO UTIQUE DEVELOPMENT PARTNERSHIP OPPO RT UNIT Y EXPRESSION OF INTEREST Closing on Wednesdau 2nd December 2020 4.00pm (AEDT) 43 DONNELLY ROAD, NAREMBURN

Guillaume Volz 0404 887 717 Zoning R3 Medium Density Residential

Height Limit 9m

Floor Space Ratio 0.7:1

Site Area 5,893sqm*

colliers.com.au/p-AUS66011190

Captial Efficient Structure

Eugene White 0423 021 439 Henry Burke 0418 238 636

*Approx.

Property Listings

NSW

Sponsored Article: Ellerson Property

The Property Development Review

Shift in Australian housing demand prompts growth in build-to-rent The build-to-rent delivery model is no longer considered just a back-up plan for Australian developers, according to new property development group, Ellerson Property, which was co-founded by brothers Fayad Fayad and Remon Fayad in September this year.

deciding they no longer want the burden of a long-term home loan. “Renting provides these people with more variety and flexibility, meaning they can live in a desirable area that’s close to fantastic amenities, transportation, or their workplace, without the long-term commitment. “In fact, many people are happy to pay in rent what others would pay for their monthly mortgage, in order to have this extra flexibility. “There’s also an increasing number of ‘rentvestors’ who own property elsewhere, but choose to rent in areas where they want to live.” The shifting nature of Australia’s population is also a factor, says Remon. “We’re finding that many migrants coming to Australia don’t necessarily buy into the ‘Australian dream’ of owning their own

“

Build-to-rent has considerable benefits for both developers and tenants.

”

In fact, the company has plans to dedicate approx. 1,000 apartments across Sydney as build-to-rent over the next two years.

freestanding home with a yard – they are accustomed to renting and view it as a preferred way of living.

According to Remon, many developers started turning to build-to-rent when they had residual unsold stock at the conclusion of a project, however, it’s now become a model that is increasingly being adopted from the outset of a development.

“Locals are also now seeing how this works in places such as the US, Europe and Asia, where for example, high income earners such as CEOs, actually choose to rent.

“Build-to-rent has considerable benefits for both developers and tenants,” he explains. “As a developer, if you have a project that has a mix of build-to-rent and build-to-sell apartments, it gives you the opportunity to spend more time planning amenities and designing the retail offering to meet tenants’ daily needs, through the inclusion of items such as yoga studios, laundromats and convenience stores. “In this way, we’re really listening to our rental customers, so that we can cater our designs to their long-term needs – something which is at the core of the Ellerson Property philosophy.” Remon says renting is no longer seen as a back-up option for modern-day Australian property consumers. “For many people, who perhaps can’t afford to buy a property in the location they want – renting is actually their preference. “With housing affordability a major issue for many years, especially in Sydney, combined with tighter banking conditions and the requirement for larger deposits, a significant proportion of the population is

“Also, with the job market changing to more casual work, and with more people working from home, they like the flexibility of being able to move around with less commitment. “With people spending more and more time in their apartments, there will be a growing trend for them to change their home environments more frequently, because they won’t want to be tied down to an apartment they need to sell when they decide to change things up.” Savvy developers like Ellerson Property are meeting this build-to-rent demand and it’s a model that is also allowing them to build a diversified portfolio of assets, says Fayad. “With more apartments currently in the market than tenants, you always want your apartment to be their first choice,” he explains. “Historically, a lot of build-to-rent product in the market was considered second-rate, but at Ellerson Property, we are focussed on delivering a much higher quality product. “This is because in such a competitive marketplace, a substandard apartment will place you last in line in the minds of tenants, so by providing more amenity

and a higher quality build, we are ensuring our apartments will always be leased and generating an income. “The ongoing rental income generated can be important for cashflow during leaner periods, and also, by opting for higher quality, we are minimising our longterm maintenance costs, which is why we have such stringent quality control in our construction.” Fayad says the ongoing presence of the developer, as the build-to-rent ‘landlord’, also gives renters confidence. “Typically, developers who just build to sell disappear after residents move in. “But on a build-to-rent project, knowing the owners are still actively involved in the project is reassuring for renters, and if there are issues, they can easily be contacted.” Ellerson Property has a dedicated build-torent project currently under construction on the corner of Anderson and Parkes streets in Parramatta, to meet the high demand for renting in the area. Consisting of 173 apartments, its due for completion at the end of 2021. The project will cater to renters working from home, with the design taking into consideration more open spaces, natural light and appealing outlooks. “We know Sydney’s western suburbs intimately and we understand what buyers and renters want,” adds Fayad. “There’s a real variety of people choosing to rent for the long term, not just young couples – we also see plenty of downsizers, mates who want to live together, people getting set up – it’s not one specific target demographic. “All long-term renters are looking for great community amenities such as rooftops, open green spaces, and cafés, and we work with our architects to plan these features.” Ellerson Property plans to offer a mix of product, including build-to-rent, in many of their developments. “We typically look at sites that are suitable for medium to large format product for our future projects. “We are mostly looking at places close to universities, hospitals and schools, because build-to-rent is well-suited to these areas. “In addition, we have a couple of buildto-rent projects under management, so we have the added benefit of property management experience as well.” For more about Ellerson Property, please visit www.ellersonproperty.com.au 19

Property Listings

NSW

DA APPROVED BOUTIQUE 12 apartment site

NORTH SHORE TURRAMURRA Extremely rare opportunity. DA approved, 3 level, 5 x 2 bed, 7 x 1 bed (some with study). Roof top communal entertaining and BBQ area. 8 car spaces, 995m2 site. Easy stroll to Turramurra shops, rail, close to hospital (SAN), schools, Macquarie University.

EXPRESSIONS OF INTEREST

Contact Agent: Chris Schiller 0416101234 chris@schillerproperty.com.au 20

Property Listings

NSW

The Property Development Review

Commercial Site

Expressions of Interest Closing 3 Dec 2020 at 4pm

For Sale 81 Holloway Street, Pagewood NSW

– Level block - 2 street frontage

Paul Hunter 0412 764 682 John Romyn 0414 183 712

– Zoned - B7 - Business Park

property.jll.com.au/303220

– Site area - 4,086sqm*

– To be sold on behalf of Grant Thornton

*(approx)

Property Listings

NSW

Hereâ&#x20AC;&#x2122;s what leading NSW agents are saying: DR IS CRITICAL FOR ANY DEVELOPMENT SITE OF CONSEQUENCE DR plays an important part in our marketing strategies, and critical for any residential development site of consequence. The EDM drives high quality enquiry, and the InstaDocs products lets me collect vital information on purchasers trends. Will is constantly adding his own value for us and our clients, excellent service all around! Development Ready is a must-have marketing tool for any development listing. 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 DevelopmentReady 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

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 Interview: Aussies in America

The Property Development Review

Aussies in America Grant Smillie & Nick Stone

Grant Smillie Botanical Group USA Grant Smillie has a true entrepreneurial spirit. Following a degree in Marketing and Management from Monash University he travelled extensively. He’s been involved in many aspects of the entertainment and hospitality industry before he embarked on the American scene. A native of Melbourne, Smillie has managed multiple venues, toured as one of Australia’s most celebrated DJs, scooped up two ARIA Awards, operated his own record label and has made his mark as a high-end restaurateur. Listen to the full interview now.

38' Click play to listen to The Interview with Grant Smillie in full. Interview: Rob Langton, Development Ready

Nick Stone Founder & Owner of Bluestone Lane, USA. When former AFL player, Nick Stone travelled to New York, for a university exchange, he realised that he had been taking his local Melbourne cafés for granted. And in that moment, he saw an opportunity. Bluestone Lane is an Australian-inspired coffee shop, cafés & lifestyle brand offering premium coffee and healthy and delicious food across America. Since his first store opening in New York in 2013, Nick has opened more than 50 stores across multiple states only the recent global health crisis that has been able t o slow this seemingly unstoppable train down. Listen to the full interview now.

45' Click play to listen to The Interview with Nick Stone in full. Interview: Rob Langton, Development Ready

Victorian Listings

MEL. 37.8136° S 144.9631° E

VIC

Property Listings

VIC

The Property Development Review

Endle ss Possibilities For Sale 48-50 Villiers Street, North Melbourne

For Sale by Expressions of Interest Closing Wednesday 9 December 2020 at 2.00pm

– Permit approval for 11-level development (GFA 2,778sqm*) – Proposed management agreement to leading co-living operator – Servicing a diverse catchment of professionals, students and medical workers

Josh Rutman Steve Kelly James Thorpe MingXuan Li 李名轩

0411 27 37 46 0407 320 377 0414 510 071 0498 688 998

property.jll.com.au/321197

– Within one of Melbourne’s major growth corridors, suburb population is forecast to increase by 120.6% over next 20 years

*(approx)

Property Listings

VIC

Permit approved retail centre For Sale 720 Sunbury Road, Sunbury VIC – Significant site area - 60,695sqm* – Dual access from Sunbury Road / Lancefield Road – Permit for service station, supermarket, childcare and residential subdivision

For Sale via Expression of Interest Closing Thursday 26 November 2020 Tom Noonan 0402 319 698

*(all figures are approximate)

MingXuan Li 李名轩 0498 688 998

property.jll.com.au/13346

Artists Impression

An Acre on the Yarra For Sale 42-50 Flockhart Street, Abbotsford VIC – 4,047sqm* landholding with over 140m* of protected river and parkland frontage – Permit approval for a 5-level future proofed office and retail building – Within one of Australia’s most affluent and well educated work force catchments

For Sale by Expressions of Interest Closing Tuesday 8 December 2020 at 2.00pm Josh Rutman James Thorpe Steve Kelly MingXuan Li 李名轩

0411 27 37 46 0414 510 071 0407 320 377 0498 688 998

property.jll.com.au/321645

Boundary Indicative

*(approx)

VIC

off

Property Listings

The Property Development Review

East Melbourne’s premier corner investment For Sale 384-388 Albert Street, East Melbourne – Elegant double-storey Victorian building – Prominent corner landholding of 892sqm* with on-site car parking at rear – Securely leased to medical research organisation – Unparalleled outlook over Fitzroy Gardens – Future repositioning opportunity (STCA)

For Sale by Expressions of Interest closing Tuesday 1 December at 2.00pm (AEDT) Michael Godfrey 0437 440 245 James Thorpe 0414 510 071 Tom Foley 0401 318 706

*(approx)

Steve Kelly 0407 320 377 Josh Rutman 0411 27 37 46

property.jll.com.au/318593

WITH * THE LONG WAIT TIME TO VIEW PROPERTY DOCUMENTS IS A THING OF THE PAST.

Property Listings

VIC

Exclusive Doncaster Pocket with Approved Permit 1 & 2 Winbrook Court, Doncaster, VIC, 3108

EOI: Closing Friday 18th of Dec at 3pm (unless Sold Prior). thought out townhouse project at 1 & 2 Winbrook Court, Doncaster. Area: min - 1655, Bordering Saxon Street and Saxon Street Reserve, the property presents a prime max - 1655 (*approx) development opportunity ready to be built in amongst an amenity rich location, moments from the bustling Doncaster Activity Centre. Key attributes of this opportunity include: Type: Residential, Expansive corner site of 1655 SQM* Unique parkland frontage of 40 metres* Townhouse Sites Planning approval for 9 x two and three storey dwellings Direct access to the Eastern Freeway and public transport, with a bus interchange situated Development Approved: 9 x two and three storey dwellings at Westfield Doncaster Tomassi & Co is delighted to offer for sale this unique site with permit approval for a smartly

• • • • •

•

The ultimate lifestyle location being within direct proximity to Westfield Doncaster

An exclusive townhouse development opportunity in one of Melbourne’s prestigious View Statement of Information: Download eastern suburbs

Shopping Centre

Contact Tomassi & Co Agents: Justin Hocking – 0426 168 812 Alby Tomassi – 0438 737 981 In Conjunction with Connect International Property Group

Office Address: Ground Floor, 49 Stead Street, South Melbourne, VIC 3205 Phone: 0438 737 981 Website: www.tomassico.com.au 28

*Approx.

Property Listings

VIC

The Property Development Review

Blue Chip Brighton Pocket with Development Potential 3 & 5 Adamson Street, Brighton VIC, 3186 Tomassi & Co is delighted to offer for sale this unique development opportunity with the potential to build 13 apartments STCA (draft scheme prepared by award winning architects Ewert Leaf) at 3 & 5 Adamson Street, Brighton. Quietly tucked in a cul-de-sac off Black Street Brighton, the property presents a prime development opportunity in amongst an amenity rich location, moments from the bustling Church Street retail strip and Middle Brighton train station. Key attributes of this opportunity include:

• • • • • • •

Expansive double site of 1292 SQM* Significant frontage of 28 metres* Potential to build 13 apartments with a total NSA of 1655 SQM* (STCA) Up to an 18-month settlement Located within Brighton’s GRZ2 Planning Zone The ultimate lifestyle location being within walking distance to Church Street, Brighton

Private Sale: Contact Alby Tomassi 0438 737 981 Area: min - 1292, max - 1292 m2 (*approx) Type: Residential, Apartment Sites Development Potential: An exclusive apartment development opportunity (STCA) View Statement of Information: Download

An exclusive apartment development opportunity (STCA) in Melbourne’s most

prestigious Bayside suburb

*Approx.

Office Address: Ground Floor, 49 Stead Street, South Melbourne, VIC 3205 Phone: 0438 737 981 Website: www.tomassico.com.au Email: atomassi@tomassico.com.au 29

Article: Gaurav Rajadhyax, R Architecture

Early learning centre site selection Gaurav Rajadhyax is director and founder of architecture practice, R Architecture. During his 15 years as an architect, he has worked with some of Australia’s leading architecture practices on large, complex multi-residential, education, retail, and heritage projects. Gaurav specialises in working with developers as well as early learning centre operators and educators to undertake site selection, feasibility, design and delivery of contemporary early learning centre facilities. R Architecture is currently undertaking projects in Sydney and Melbourne.

Among investment asset classes, early learning

where other early learning centres already exist

and accessibility; visual and acoustic privacy;

centres (ELCs) are currently leading the pack.

needn't be a dealbreaker. Having one or two

noise and air pollution; and, traffic, parking and

Increasing demand and ongoing bipartisan

competitors is not necessarily a problem, especially

pedestrian circulation.

government support for the sector, particularly

if they are currently operating at capacity and have

during the COVID-19 pandemic has reaffirmed

long waitlists or are of low capacity (80-90 places).

Many local governments also have specific policies

its resiliency.

The recent announcement of the introduction

- these are often a reflection of state government

According to the 2020 Childcare Industry Insights

of government-funded three-year-old kinder in

policies and national legislation. However, local

report by Burgess Rawson, the average metro yield

Victoria presents a further competitive opportunity

planning rules for non-residential development can

for childcare centres in the 19/20 FY was 5.63%

in that state as many existing centres will not be

also influence site selection.

and the average sale value has increased from $3.7

equipped with space or facilities to incorporate

million in FY 18/19 to $4.6 million in FY 19/20.

this service.

Our Ferntree Gully ELC project in Victoria, is

As a result, many property developers at a range of

Competition was not an issue for our recently

zoned for residential use. The City of Knox planning

scales are entering into this space for the first time,

completed Bira Bira ELC in Cheltenham

guidelines dictate that a percentage of a residential

actively pursuing the purchase of suitable sites or

Victoria. This centre is specifically designed to

site must be provided for green space, and the

identifying sites within their existing portfolios that

accommodate a differentiated learning-out-

council was insistent that these criteria remain if

can be further leveraged for this use.

comes-focussed, family-oriented model of care.

they were to allow it to be utilised for a childcare

There is a range of factors that should be considered

Government policies

centre. This required careful due diligence to ensure

when selecting an appropriate site for an early learning centre including demand, competition and government policies.

It is important to be aware that there are national, state and often, local policy guidelines that govern the quality of childcare services and facilities. These

Demand

documents contain specific guidelines with regard

Looking at the local demographics and population

to the physical environment that early learning

projections are a great place to start. Locations that

centres provide and can influence where they are

have growing numbers of pre-school aged children

able to be located.

are obviously ideal. Additionally, check whether

National legislation including Education and Care

there are one or more primary schools nearby that a new early learning centre could act as a feeder for.

Services National Law Act 2010 (National Law) and the Education and Care Services National

We're working with a developer client who is plan-

Regulations 2011 (National Regulations) requires

ning to establish an ELC on an existing landholding,

specific indoor and outdoor spatial requirements:

located at an interface between residential and

for each child being educated and cared for by the

industrial zones in Bayswater, Victoria. Bayswater

service, the education and care premises has at least

has been experiencing strong population growth

3.5 square metres of unencumbered indoor space

and is projected to have growing numbers of

and at least 7 square metres of unencumbered

children in the 0-4 age group over the next 20 years.

outdoor space, (regulation 107 and regulation 108).

The location ensures that its catchment will be fed by demand from both the residential area and from the thousands of employees that work within the industrial and commercial area. Competition Developing a new early learning centre in an area

At the state level, government departments responsible for education often have specific guidelines for the design of childcare centres that incorporate the relevant national laws and cover e lements such as site selection and location; building orientation, envelope, building design

for the planning and approval of childcare centres

located on land our client already owned that was

the site would be suitable. While these recommendations with regard to demand, competition and government policies remain relatively fixed, there are a couple of other market factors to consider. In the past, we have seen an emphasis on ELCs located near to commercial activity centres. We are yet to see the long term impact of the shift to working from home that the COVID-19 pandemic has brought about. It may be that in future, there will be greater demand for ELCs that are located in accessible suburban areas. This has potential benefits such as strengthening communities by having children from the same area going to childcare together and increasing convenience for those that work from home. There is also strong research to support the benefits of three-year-old kinder. Its credentials with regard to improved school-readiness may prompt other Australian states to implement governmentsupported programs, which will only spur further market opportunities for new early learning centres.

Property Listings

VIC

The Property Development Review

Property Listings

VIC

Exciting Townhouse Development Opportunity 82-96 New Street, South Kingsville VIC.

Melbourne CBD 10.6 km*

For Sale by Expressions of Interest closing Thursday, 26 November at 4pm (AEDT). 82-96 New Street, South Kingsville Comprehensive Development CDZ

Land Area: 6,630 sqm*

Ideal townhouse development

Situated in a highly sought after location, adjacent to Mirvac’s latest development, Fabric Altona, 82-96 New Street, South Kingsville is a thriving and changing location, neighbouring Newport, Yarraville, Altona North & Spotswood. Cleared landholding - ready to commence development immediately

•

Indicative Townhouse Development scheme by Vantage Architects

Ed Wright 0421 213 021

Matthew Romanin 0421 888 428

View Listing View at knightfrank.com.au

/1234567

s Road

Blackshaw *Approx.

•

N ew

View at knightfrank.com.au /1234567

St re et

Property Listings

VIC

The Property Development Review

Exceptional Value Add with Secure Income. 11-23 Burwood Road, Hawthorn VIC. For Sale

Building Area: 2,403 sqm*

Land Area: 1,521 sqm*

54 Car Spaces

Situated in the heart of the Burwood Road office precinct 11-23 Burwood Road offers a high profile standalone office building with the benefit of Commercial 1 zoning. Offered with the security of a three (3) year lease to NIIM 6km to Melbourne Commercial 1 the property offers security the ability to CBD of tenure with Zoning further add value in the future.

*Approx.

Ed Wright 0421 213 021 Tom Ryan 0419 786 244 Tim Grant 0478 666 275 View Listing

Prime High-Rise Development Site. 13 Prospect Street, Box Hill VIC. For Sale

Land Area 1,004 sqm*

Develop up-to 25 levels (STCA)

Short term holding income

Tim Grant 0478 666 275 Tom Ryan 0419 786 244 Ed Wright 0421 213 021

*Approx.

Under instructions from Cor Cordis as agent for Mortgagee in Possession, Knight Frank is pleased to offer for sale this exceptional development opportunity in the heart of Box Hill. With a flexible Commercial 1 Zone the property suits a multitude of development options (STCA).

View Listing

Property Listings

VIC

Versatile corporate HQ on prime land holding. 56-60 Rutland Road, Box Hill VIC. For Sale

Corner site of 2,231 sqm*

Building area of 2,394 sqm*

5 Star NABERS Rating

Tom Ryan 0419 786 244 Tim Grant 0478 666 275 Ed Wright 0421 213 021

*Approx.

Prime corner location with 3 street frontages offered with short term income and flexible settlement terms located in the heart of the Box Hill Activity Centre. An outstanding opportunity in a Commercial 1 zone to add value through development upside or secure a substantial office building well below replacement cost.

View Listing

COMMERCIAL to the core

grayjohnson.com.au

NORTH MELBOURNE

SALE

64 CHAPMAN STREET PREMIUM HEALTHCARE INVESTMENT > Brand new 6 + 6 year lease > Leased to leading paediatric orthopaedic clinic – VicOrtho > Two quality commercial buildings. Combined building area 414m2* > Rental: $291,165 pa + outgoings & GST > Fixed annual 3% increases > Valuable landholding: 642m2* > Only minutes to Royal Children’s Hospital and the CBD

MATT HOATH 0418 543 714 mhoath@grayjohnson.com.au 34

RORY WHITE 0439 655 504 rwhite@grayjohnson.com.au

EOI closing Thursday 3 December @ 2pm

GRA0476_101120

*Approx

*Boundary outlines are indicative only

Property Listings

VIC

The Property Development Review

VIEW LISTING

Artist Impression

For Sale: 17-19 Balcombe Park Lane, Beaumaris VIC 3193 Liquidators’ Auction: Thursday 10th Dec at 6pm Alex Ham — 0410 545 226 Andrew Greenway — 0409 547 626

Magnificent permit approved bayside development opportunity within a superb residential location neighbouring Balcombe Park Reserve and within the Beaumaris Secondary College Zone. – Approved permit and stamped plans for 3 large high-end town residences – Significant land holding of 1,394m²* with frontage to Balcombe Park Lane of 31 metres* – Existing improvements comprise 4-bedroom / 2-bathroom family home with short term income

Advertorial

Key Flinders Street Site Listed Amidst “Pent-Up” Purchaser Demand 7

Colliers International is delighted to offer for sale 244–248 Flinders Street, Melbourne.

KEY 1

14 5 13 15

ST R E E T ( MALL)

F L I N D E R S ST R E E T STAT I O N – E L I Z A B E T H ST R E E T E X I T

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DAV I D J O N E S

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MELBOURNE CENTRAL

FUTURE CITY S Q U A R E E V E N TS S PAC E

F E D E R AT I O N S Q U A R E

D O U B L E T R E E B Y H I LTO N

R E N D E Z VO U S H OT E L

V I B E H OT E L

W H OT E L

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10 FLIND

244–248 D FLIN

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Capitalising on the high profile location, the property is being offered with endorsed plans and town planning permit for a brand new luxury hotel development comprising 13 storeys, 193 rooms, restaurants and bar. South facing rooms will also enjoy stunning views over iconic Flinders Street Station to the Southbank and the Royal Botanic Gardens. The permit has recently been extended for a further three years expiring N Eproject R the 18 July 2023. This will enable the developer to deliver OU ELB coinciding with completion of the newMMelbourne Metro.

ST R ERS

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N ST R E E T

Strategically positioned directly opposite the recently refurbished Flinders Street Train Station and surrounded by the new Melbourne Metro Tunnel CBD Train Station entrances – Federation Square and Town Hall. The new $11 billion Metro Tunnel is a State Government Victoria major infrastructure project scheduled for completion 2025.

BOURKE

F L I N D E R S ST R E E T STAT I O N – S WA N STO N ST R E E T E X I T

S P O RTS & A RTS P R EC I N CT

SOUTHBANK

COMMUTER T H O R O U G H FA R E

| LUXUR

Key Selling Features Strategic position opposite iconic Flinders Street Station and next to new Melbourne Metro

Current improvements comprise three storey office building plus basement offered with vacant possession. NLA 3,391 m2*

Surrounded by Federation Square, Swanston Street Retail and cosmopolitan Degraves Street

Extensive 20.10* metre frontage to Flinders Street

Planning permit and endorsed plans for 13 storey, plus one basement, 193 room luxury lifestyle hotel

Large underlying land area of 846m2 with rear access via Degraves Place

Flexible Capital City 1 Zoning enables alternatives uses including prime retail, office, education and residential (STCA)

*Approx | NABERS exempt

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A strategically positioned development site,

“Current improvements include a three-storey office

Hotels have also proved hot commodities in the

directly opposite the recently refurbished Flinders

building with a net lettable area of 3,391sqm.

Colliers International team’s hands, with multiple

Street Train Station at 244-248 Flinders Street in

It boasts a high profile 20 metre frontage to Flinders

assets trading during the third quarter of 2020,

Melbourne’s CBD, has recently been listed for sale

Street and valuable 853sqm underlying land area.”

including the Rydges of Swanston, Carlton

by the Colliers International Melbourne City Sales

Mr Hay noted

Team; Matt Stagg, Oliver Hay and Daniel Wolman.

($35 million) and Capital Square Hotel, Sydney

“Capitalising on the high-profile location, the

Chinatown ($26 million).

As well as boasting an enviable location opposite

property is being offered with endorsed plans and

Colliers Hotels Valuation & Advisory Services

Melbourne’s most prominent train station, the

town planning permit for a brand-new luxury hotel

forecasts the rebound in hotel occupancy levels

property is set to benefit from the $11 billion Metro

development comprising 13 storeys, 193 rooms,

ill be led by Australian domestic tourism and

Tunnel infrastructure project, undertaken by the

restaurants and a bar. South facing rooms will also

the return on business travel throughout 2021.

Victorian State Government and scheduled for

enjoy stunning views over iconic Flinders Street

Occupancy rates will also continue to improve

completion in 2025.

Station to the Southbank and the Royal Botanic

and then normalise subject to the easing of

Gardens. The permit has recently been extended

international travel restrictions.

“Flinders Street Station is already the busiest train station in the Melbourne CBD. When the Metro Tunnel is complete, this location opposite Flinders Street Station, between Swanston Street and Elizabeth Street, will have the highest concentration of pedestrian foot traffic in the Melbourne CBD and

for a further three years expiring 18 July 2023. This will enable the developer to deliver the

New sentiment for Q4 and the new year to come

project coinciding with completion of the new

244-248 Flinders Street may have only been

Melbourne Metro.”

running for one week, but the Colliers International

On a roll in a market with “pent-up” purchaser

team have already recorded strong interest from

potentially that of any capital city in Australia.”

demand

domestic and offshore investors and developers –

Selling agent Matt Stagg said,

The listing of this high-profile asset comes mere weeks after successfully completing the record sale

quarter of 2020.

“Therefore, capital and rental values in the block bound by Flinders Street, Swanston Street, Degraves Street and Flinders Lane are projected to increase

of 139 Collins Street, home to Louis Vuitton, located directly next door to the Grand Hyatt.

a sign of changing sentiment during the back

“During the first three quarters of 2020 landlords and commercial property owners have implemented defensive leasing and property management

substantially as the Metro nears completion.”

That campaign generated more than 300 buyer

A historic and high-profile opportunity

China, North America and Europe, ultimately

maintain rental income,” Mr Wolman commented.

landing with a Singaporean investor for more than

“The fourth quarter of 2020 has seen the record of

244 – 248 Flinders Street Melbourne was originally

enquiries from around Australia, South East Asia,

strategies in order to work with tenants and

constructed around 1936 and was purpose built

$65 million.

for the Snows Department Store. More recently, the

The Colliers International team have noted that the

followed by the offering of 411 Collins Street

property has been owner-occupied as the

sale demonstrates the “pent-up level of purchaser

($35 million plus). Purchaser demand for these

headquarters of not-for-profit organisation Yooralla.

demand” for Melbourne CBD assets by domestic

prime investments has been very strong which we

and global investors. Australian market conditions

and our landlord clients are confident will continue

are particularly attractive to global investors at the

throughout 2021.”

Luxury hotel permit in place

sale of 139 Collins Street ($65 million approx) and

The quoting price is more than $45 million

moment given the favourable exchange rate, record

(excluding GST) and the property is being offered

low interest rates, comparatively attractive property

with vacant possession and town planning permit

yields and reputation as a “safe haven” investment

for new luxury lifestyle hotel development.

destination.

Expressions of interest for 244-248 Flinders Street close 12noon Thursday 10 December 2020.

Contact the Colliers International Melbourne City Sales Team for further details.

Property Listings

VIC

The Property Development Review

Accelerating success.

HIGH PROFILE LOCATION NEXT TO FLINDERS STREET STATION AND NEW MELBOURNE METRO FOR SALE by International Expressions of Interest closing Thursday 10 December at 12pm (AEDT) 244-248 FLINDERS STREET, MELBOURNE, VIC Artist impression

Strategic position opposite Flinders Street Station and next to new Melbourne Metro

Also close to Federation Square and Swanston Street

Planning permit Flexible uses Site area 846m²* for 13 storey including prime Frontage 20.10m* + 1 basement, retail, office, 193 room luxury education and lifestyle hotel residential (STCA)

Current building NLA 3,391m²* with vacant possession *Approx.

Matt Stagg

0409 411 300

Oliver Hay

0419 528 540

Daniel Wolman 0412 957 839

colliers.com.au/p-AUS66011320

Property Listings

VIC

GLEN IRIS

SALE

1795-1797 MALVERN RD

*Boundary outlines are indicative only

BLUE CHIP RESIDENTIAL DEVELOPMENT SITE > Extremely rare and substantial landholding: 1,862m2* > Expansive frontage of 32m* to Malvern Road

> Concept development plans prepared by Bruce Henderson Architects > Zoned: General Residential (Schedule 7) > Fabulous accessibility to public transport (tram, bus and train)

EOI closing Wednesday 9 December @ 12 noon Matt Hoath 0418 543 714 38

Rory White 0439 655 504

Paul Jones 0488 779 749

Sam Guest 0458 467 482

GRA0476_141120

*Approx

The Property Development Review

VALUE ADD OPPORTUNITY IN CAULFIELD NORTH FOR SALE Via Expressions of interest, Closing Thursday 10th December. 80-82 Kooyong Road, Caulfield North, VIC 3161

View Now

Phillip Kingston 0414 353 547

Daniel Wolman 0412 957 839

Julian Millman 0412 713 121

Ben Baines 0438 328 407

Daniel Fisher 0409 797 560

Ted Dwyer 0411 312 165

garypeer.com.au

colliers.com.au 39

Property Listings

VIC

The Property Development Review

Hereâ&#x20AC;&#x2122;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. DevelopmentReady 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 DevelopmentReady 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

DEVELOPMENTREADY 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

Visit DevelopmentReady.com.au

CONSISTENTLY DELIVER HIGH QUALITY ENQUIRIES We have found DevelopmentReady 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 â&#x20AC;&#x201C; to buy a development site.

JULIAN WHITE Partner, Stonebridge Property Group

Boost your campaign with video content that drives enquiries.

Allard Shelton, Corporate

Real Properties, Carrum

Knight Frank, Melbourne

Smart agencies are using video content as a key marketing component on every platform and channel. The creation of information-rich video content produced by DevelopmentReady has boosted both campaign enquiry levels and brand awareness for many leading agencies.

ICR Property, Sunbury

Make Video Content work for you â&#x20AC;&#x201D; talk to us today.

Queensland Listings

The Property Development Review

BNE. 27.4698° S 153.0251° E

QLD

Q&A Article

Property developers may face licensing under new regime

Alex Power

Special Council | McCullough Robertson Lawyers

Following major reforms to the Queensland Building and Construction Commission Act earlier this year, Government is now considering a significant review of the role property developers play in the construction industry, and is considering a regime that could require property developers to undertake licensing requirements - similar to that of contractors or subcontractors. As property developers are not currently regulated in Queensland, the State Government is considering the various roles of developers in the sector, including the impact of their financial and operational capacity, ethical behaviour, and work practices. The effects of a licensing scheme for property developers would no doubt be far-reaching. We sat down with Alex Power of McCullough Robertson Lawyers to understand what a licensing regime might look like, its impacts, and how developers can prepare for potential changes. Alex, how did this proposal to Government come about? The Bill was passed by Parliament on the recommendation of the Transport and Public Works Committee, following the receipt

In accordance with Recommendation 11, the Minister successfully moved the following amendment to the Bill before the Legislative Assembly earlier this year:

of written submissions, along with a public hearing on 3 and

(1) The Minister must ensure a review is conducted of the role

4 March 2020.

of developers in the building and construction industry.

The Committee made 12 recommendations to Parliament,

(2) The Minister must appoint a panel of not more than

including a recommendation that Minister Mick de Brenni MP

4 appropriately qualified persons to conduct the review.

(the then Minister for Housing and Public Works), review the

(3) The Minister must give the panel directions or a terms of refer-

role that property developers play in the broader building and construction sector. A full copy of the Committeeâ&#x20AC;&#x2122;s report can be found here What exactly do the proposed changes include? Based on the submissions and evidence provided at the hearing, the Committee recommended that the Minister â&#x20AC;&#x2DC;review the role of property developers in the building and construction industry, including considering the impact of their financial and operational capacity, ethical behaviour, and work practicesâ&#x20AC;&#x2122; (Recommendation 11).

Image: Development Ready

ence to guide the review. (4) The Minister must table in the Legislative Assembly a report on the outcome of the review as soon as practicable after the review is completed.[1] What are the benefits of a potential licensing regime that are being advocated by those who consider it should be introduced? Those who are advocating for the introduction of a property developer licensing regime are making submissions which can be generally summarised as follows:

The Property Development Review

• That a licensing regime should require property developers to

licensing regime may require developers to comply with some

meet specific financial requirements. The concern that has been

of the same rules currently in place for other licensed industry

advocated is that if a developer has inadequate finances, it can

participants.

result in money not ‘flowing down the chain’ to contractors and subcontractors. It is argued that this raises the risk of the developer being wound up either during the project or after the

We anticipate the review may investigate whether developers should be required to do the following:

project, which can impact on the quality of the project for

• Only undertake projects for which the developer is authorised to

purchasers as well as payment to contractors, along with the

carry out

potential of ‘cutting of corners’ on work health and safety due to

• Participate in the project trust accounts regime

financial and time pressures on contractors. • That any regime should include anti-phoenixing provisions, to prevent developers from winding up their companies and starting new companies with the same decision makers involved. It is argued that this practise harms not only purchasers, who will not be able to contact the developer in respect of any defects,

• Comply with annual financial reporting obligations through the QBCC minimum financial requirements regulation (i.e. producing profit and loss statements, balance sheets, statement of cash flow, debtors and creditors report) • Ensure compliance with safety regulations

but contractors and subcontractors to the extent they have not

It should be noted that without knowing the outcome of the r

been paid.

eview, the above factors are merely speculative. Notwithstanding,

• That the government should also consider, as part of any licensing

if Parliament is prompted to create a statutory framework around

regime, involving developers in the chain of responsibility for

the activities of developers following the Minister’s review, there

non-conforming building products, to the extent they are

may be significant changes to the way in which projects are carried

responsible for such products being used in a project.

out between developers, contractors and subcontractors.

Non-conforming building products are products that are not safe or do not comply with regulatory provisions.

Furthermore, if developers are required to submit to licensing requirements, it is possible that the QBCC’s powers will be further

• That consideration should be given to involving property

expanded to investigate the activities of developers, re-affirming

developers in the project trust accounts regime. Under the current

the status of Queensland’s building and construction sector as

project trust accounts regime, contractors establish trust accounts

being one of the most heavily regulated in the country.

to secure payment of money to subcontractors.

What are the next steps in relation to this change?

In response, property developers have advocated that a licensing regime would constitute ‘red tape’ that would deter developers from investing in Queensland.

The Minister is to undertake the review in consultation with industry stakeholders and is to report the findings of the review as soon as practicable after the review is completed.

It is also the position of developers that it is the contractor that has the responsibility for building the project in accordance with its contractual obligations, and that a licensing regime regulating

References:

developers in respect of issues such as financial requirements,

[1] Queensland Parliament, Record of proceedings, Legislative Assembly, 15 July 2020, pg 1665 https://www.parliament.qld.gov.au/documents/ hansard/2020/2020_07_15_WEEKLY.pdf.

payment, non-conforming building products and defects is unnecessary and would be a significant burden. Lastly, the Corporations Act 2001 (Cth) already contains provisions

[2] https://www.cmtedd.act.gov.au/open_government/inform/act_government_media_releases/gordon-ramsay-mla-media-releases/2019/developerlicensing-scheme-in-the-pipeline.

addressing anti-phoenixing issues which is enforced by ASIC. What are the impacts for developers should this scheme be implemented? What should developers be doing now to

About McCullough Robertson

prepare for future changes?

McCullough Robertson is a leading independent law firm. We work with businesses in a diverse range of industries including mining and energy, financial services, tourism, property, agribusiness, telecommunications, renewables and government. Our significant reach and experience across Australia including Brisbane, Sydney, Canberra, Newcastle and Melbourne, sees us actively working both nationally and internationally for our clients. We truly believe it is our business to understand our clients and give them the support they need when they need it, because unlocking success for our clients is what drives us. We use deep industry knowledge and foresight, combined with considerable technical expertise, to provide the best possible outcome for all who work with us.

Although some states have been reluctant to adopt a licensing scheme, efforts are already underway in the Australian Capital Territory to explore the creation of a licensing scheme for developers.[2] If Queensland adopts a similar position, we may see further reforms to the QBCC Act and BIF Act following the consideration of any report that is due to be handed down by 1 July 2021. Accordingly, developers should maintain awareness of any proposed reform relating to licensing, bearing in mind that a

Property Listings

QLD

17-19 Vista Street Surfers Paradise BEACHSIDE DA APPROVED RESIDENTIAL DEVELOPMENT SITE WITH STRONG HOLDING INCOME • Secured by an entire freehold block of 8 units • 100% Leased - Significant holding income - $157,119* p.a. • DA approved for a boutique development of 17 luxurious residences • Single level basement for 30 cars • Opportunity to amend DA to add additional floors & carparks if desired • Designed by popular multi-award winning ‘BDA Architecture’ • Contact us for or a copy of the DA & detailed Information Memorandum

Expressions Of Interest Closing 15th December at 4.00pm

Jared Johnson 0423 386 939 j.johnson@coastal.com.au

Lachlan Marshall 0426 259 799 l.marshall@coastal.com.au

Bundamba’s premier lot

For Sale 61 Hoepner Road, Bundamba QLD – – – – – –

Prominent 10,850sqm* regular shaped corner site Existing DA for 4,000sqm+ office/warehouse facility Approval for 24/7 operations Two street access allowing full drive around capability B-Double access to site Surrounded by a number of national and global occupiers / tenants – Direct access to critical transport infrastructure including Ipswich / Warrego / Cunningham Highway’s

*(approx)

Harry Homan 0435 368 776

Sam Stewart 0439 716 458

property.jll.com.au/20115

Boundary Indicative

Property Listings

QLD

The Property Development Review

DA APPROVAL 30 UNITS - VERY MOTIVATED OVERSEAS SELLER! 3-7 Hollywell Road, Biggera Waters

OFFERS ABOVE $2,000,000 • Vacant land - 1,502m²* • DA Approval for 30 units (5x levels + basement car parking) • Easy access to M1 Motorway and Broadwater/beach • Minutes* to Harbour Town Shopping Centre • Asking for all serious offers to be presented! *approx

Moto Waters 0414 760 682 Adrian Lock 0451 983 207

raywhitecommercialgoldcoast.com.au 47

Hereâ&#x20AC;&#x2122;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 DevelopmentReady 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 Director, Harcourts Coastal Commercial

STRONG LEVELS OF ENQUIRY The Colliers Site Sales team utilises DevelopmentReady 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

Visit DevelopmentReady.com.au 48

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 DevelopmentReady 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

The Property Development Review

The Deague Brothers

The Simonds Family

Watch Exclusive Interviews w

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The Pellegrino Family

Scott Hutchinson

Mario Salvo

The Property Development Review

Danny Ciarma

Bill Moss AO

ith Industry Leaders Online. Nigel Satterley

Don O'Rorke

Mark Wizel

Michael Cook

SA South Australia Listings

Property Listings

ADL. 34.9285° S 138.6007° E

SA 52

Property Listings

The Property Development Review

Property Listings

Boundary Indicative

Rezoning opportunity For Sale 122-124 William Street, Beverley SA

For Sale by EOI closing Friday 11 December 2020 at 4pm

– Significant discount to replacement cost

property.jll.com.au/305876

Jed Harley 0418 807 920 – Major arena with 8,000* seating capacity Jamie Guerra – 2.37ha* site less than 5km* from the CBD 0418 849 780 – Currently zoned “Stadium” – Potential for rezoning and future development (stnc) *(approx)

RLA1842

Property Listings

The Property Development Review

House of Chow

For Sale by EOI closing Thursday 10 December at 5pm

For Sale 82-90 Hutt Street, Adelaide SA

– Development site of 850sqm*

Roger Klem 0423 919 373 Jed Harley 0418 807 920

– Three street frontages

property.jll.com.au/321912

– Hutt Street Icon / Gateway Site

– Substantial holding income – First time offered in 33 years *(Approx.)

RLA1842

Property Listings

Connecting people & property, perfectly. 64 Greenhill Road, Wayville SA.

Fully leased office asset

Secure fixed income

Basement & undercroft parking

Modern office building

EOT facilities available

High profile posotion

Guy Bennett 0418 808 548 Oliver Totani 0418 845 973 View Listing

With you for the life of the campaign.

*Approx

For Sale by Expressions of Interest

RLA 199257

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 DevelopmentReady 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 DevelopmentReady.

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 DevelopmentReady in all applicable marketing schedules. Keep up the good work." OLIVER TOTANI Director, Knight Frank Adelaide

DEVELOPMENTREADY 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

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Report WA Quarterly Western Australia Listings

The Property Development Review

PER. 31.9505Â° S 115.8605Â° E

Property Listings

The Property Development Review

Connecting people & property, perfectly.

Lot 100 Montgomery Avenue, Mount Claremont WA. For Sale by Offers to Purchase closing Thursday, 3 December at 3pm (AWST). Rare infill site

Site area 3,306 sqm

This exceptional site is one of the last large parcels of land in the popular St Johns Wood Estate, Mount Claremont. Ideal opportunity for developers to capitalise on a perfect infill development site in the Western Suburbs. Zoned R30

Located on the western side of Montgomery Avenue, Mount Claremont, which is the main road that cuts through St Johns Wood Estate, linking Alfred Road to Stephenson Avenue.

Last parcel in St Johns Wood Estate to develop

Close to major facilities

Ideal opportunity for developers

Surrounded by Parklands

The property has fantastic access to local amenity with only a short drive taking you to some of Perthâ&#x20AC;&#x2122;s best beaches such as, Floreat, City Beach, Swanbourne and Cottesloe. It is only moments from Claremont Quarter Shopping Centre and the Floreat Forum as well as an abundance of local coffee shops and eateries.

James Baker 0418 912 007 Tony Delich 0418 926 410

View Listing

Discover Australia's finest Media Kit properties at commercial 2020 â&#x20AC;&#x201C; 2021 the click of a button.

Visit commercialready.com.au for more info. 62