August / September Edition | The Property Development Ready

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B Y D E V E L O P M E N T R E A D Y I N PA R T N E R S H I P W I T H T H E U R B A N D E V E L O P E R I S S U E N O . 5 · A U G U S T/ S E P T E M B E R 2 0 1 9

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THE PROPERT Y DE VELOPMENT RE VIE W

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Welcome to the August issue of The Property Development Review.

Positive news for developers as a recent CoreLogic Home Value Index report indicates that National dwelling values ceased their 20 month drop in July 2019. Contributing factors obviously include the flow-on effects of lower mortgage rates and improved post-election sentiment.

Reflective of the current state of the market, mainstream real estate websites have endured a decline on year-to-date listing volumes. On the contrary Development Ready have experienced the exact opposite with listing numbers of development sites increasing.

Featuring in this issue is an excerpt from our video interview with industry doyen, Mario Salvo – founder of the Salvo Property Group. It was a pleasure to chat with Mario about his amazing journey in both business and life. His insightful understanding of all things commercial is reflective of why he has been exceedingly successful in a number of industry sectors.

On the Cover: SPG's Palladium Tower. Read the interview with Mario Salvo on page 02.

Newsworthy state and national topics include whether the gap between renting and owning a piece of Australian real estate is narrowing. A state by state market wrap and a suburb specific spotlight. Why the consortium behind a $30 billion hi-tech smart city has been given the flick by the Victorian government. Why Perth’s commercial property market has returned to a more stable footing and Melbourne’s selection as Uber’s first international flying taxi test city.

Plus, there’s plenty more to read about together with the latest development listings from around the country.

Enjoy the read and keep well.

Cheers, Nick Materia Managing Director

01. In Conversation With: Mario Salvo

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02.

T he Suburbs Cheaper to Buy than Rent

Click Here

03. Market Moves: Around the Country

Click Here

04. State Spotlight: Victoria

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05. State Spotlight: New South Wales

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06. State Spotlight: Queensland

Click Here

07. State Spotlight: South Australia

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08. State Spotlight: Western Australia

Click Here

09. Opinion Piece

Click Here

INTERVIE W: MARIO SALVO

IN CONVERSATION WITH: MARIO SALVO

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THE PROPERT Y DE VELOPMENT RE VIE W

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From humble beginnings migrating to Melbourne from Italy at the age of four, Mario Salvo has come to be one of Australia’s most prominent & respected business identities. After many years in the automotive industry, Mario transitioned full-time into property creating the highly successful Salvo Property Group. Over the past decade SPG have developed in excess of 3,000 apartments with a market value of more than $1.5 billion. We recently sat down with this self-made success story to explore his 45+ years of experience and insights.

← Mario Salvo & Development Ready's Rob Langton. Press the play button to watch the interview.

Development Ready: Thanks for joining us Mario – Now your entry into the property market has always interested us, as it’s definitely one of the less-traditional journeys that we’ve come across; can you take us through it?

Mario Salvo: Well my journey starts with automobiles.

When I was 16 I did my apprenticeship as a mechanic and it was during this time that I started buying and selling cars. My brother was a panel beater so he would fix them and I would sell them. Business was going well and after some legislation changes we decided to buy a car yard in Coburg. The business grew and being good Italian boys, we weren’t blowing the cash – it was going into investment properties.

After about 10-12 years we were making more money from the uplift of the property value than we were from cars, so I decided to “semi-retire”.

DR: Sounds like a pretty enviable position to be in.

MS: Well it turned out to be the most boring six-months of my life – I was 38! So, I started looking for something else to do.

DR: And this is when you started in the car rental business?

MS: Yeah, I purchased a car rental business named Delta, which I came across in the Financial Review. Things were shaky at the start with around 150 old bombs – but I was quickly buying newer and better cars. Eventually I expanded the business with different branches and took on some franchisees as well. Over the course of 16 years we went from 150 cars to over 7,000 vehicles. I was approached by Europcar to be an Asia Pacific franchisee, which we agreed to and then they made me an offer to buy the business – it was too good to refuse, so I accepted and retired again.

DR: So, you had money, you had time, is this when you started in property development?

MS: Pretty much. Before the sale of Europcar I had been in the property development business but as a silent partner. We built the Franklin Lofts and the Ansett Tower, among others, but I was passive through it all. After my business partner and I parted ways, I continued developing on my own.

DR: And was it at this point that you founded Salvo Property Group?

MS: Yes, my start in it all was quite interesting. I had this property that was on the corner of City Road and Clarendon Street in Southbank. I bought that site in the early 90s for around $300,000 and used it during the car rental days. In the early 2000s I received an offer from a gentleman to purchase it for $3 million, which I couldn’t say no to. He paid the deposit and secured a permit to develop a 30-storey building, but unfortunately couldn’t settle. Unfortunately for him, but fortunately for me, he lost the deposit and I gained a revalued site with an approved development permit. I then received a second offer for $3.5 million from new buyers who increased the permit to 33-levels, but they were unable to settle too.

At this stage, I’ve retired from car-rental and I was looking at the site and thought – how hard could property development be? So, I decided that this would be first one I would build on my own.

DR: You would have been one of the first in that Southbank area – was that a difficult position to be in?

MS: We were laughed at initially by agents who thought the area was un-sellable. But I put together a team and we sold out the building in three months. Then we bought the adjoining property, and the adjoining prop-

INTERVIE W: MARIO SALVO

erty, and the adjoining property – now Southbank is a residential development hot spot.

DR: You’ve done a couple of projects in Southport on the Gold Coast and a couple in Sydney, but you’ve mainly stuck to Southbank – why is that?

MS: If you’re finding gold nuggets in your backyard, why would you go hunting elsewhere? We know Southbank, our clients know us, we have local builders and it’s been working well. There’s great opportunities in Melbourne, so at this stage I don’t see much need to travel.

DR: Having experienced multiple successes across various business, do you think there is a fundamental attitude that has helped you each time?

MS: My personal philosophy is that you can break success down into three equal parts; common-sense, balls and determination. You’ve got to have the brains to evaluate the situation, the courage to take the risk and the willpower to get the job done.

DR: Do you think this applies all the time – or is it different during periods of weaker markets such as the 2008 GFC or the more dip?

MS: I’ve been in business for over 40 years and we’ve seen the economy rise and fall – but I’ve never felt any of them. When there are periods of adversity, I see opportunity.

If you can buy the sites at a low price, you can pass the savings on to the purchaser. He who has the lowest overheads and therefore can be competitive, will always survive and prosper in a weaker market. I’m not ever concerned; when it’s boom times we’ll do well, when it’s bad time we might even do better.

DR: And what’s your take on the market at the moment?

MS: We’ve got one under construction and one just launching – we’re selling quite well. But as I’ve said before, it’s all about being competitive. It doesn’t matter if your business is a café, car rental or property, if you can give your customer more for the same price, you’re going to stay in business. Everything is in the buying, in

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the cost of goods sold. Do your research, find the right properties for the right price – I always say, look at 100 and buy one – if you stay competitive you’ll do well.

DR: Are there characteristics that you ensure are consistent across all your projects, or is each one treated completely different?

MS: The one thing that stays consistent is that we pursue quality amenities in each development. Our aim is to deliver value to the customer – and many developers overlook the importance of this. They install slow lifts, low quality pools – why even bother. Of course, you need to be wise with your spending, but you need to focus on quality and delivering value.

DR: Do you have any grand plans for the future?

MS: No, my life has never been planned very far in the future. I didn’t plan to be a car-rental operator. I didn’t plan to be a property developer. Things just happen – but if you make the most of it and know your strengths, you can be successful.

DR: What did you identify as your strength?

MS: I think I’m good at finding the right people, who are good at what they do. You have to know your stuff, but no man is an island; it’s a team that gets things done.

↙ Palladium Tower.

Image: SPG

THE PROPERT Y DE VELOPMENT RE VIE W

→ Palladium Tower.

Image: SPG

"I think I’m good at finding the right people, who are good at what they do. You have to know your stuff, but no man is an island; it’s a team that gets things done." Mario Salvo, SPG

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EDITORIAL

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THE SUBURBS CHEAPER TO BUY THAN RENT Content Supplied by:

Could the gap between renting and owning a piece of Australian real estate be narrowing?

Despite the nation’s cooling housing market over recent years, home affordability is an ongoing issue with five of Australia’s major housing markets ranking last year as “severely unaffordable”.But thanks to some data crunching, property portal Domain has identified Australian suburbs in major capital cities where it’s cheaper to buy a home than rent one.

With the reserve bank cutting rates twice in the past six weeks to historic lows, falling interest rates is the main factor creating affordability for first home buyers, bringing the typical mortgage rate down to around 3.5 per cent, with forecasts it’s likely to go lower.

TOO GOOD TO BE TRUE? While some suburbs in the findings may not be worthwhile investments, Domain research analyst Eliza Owen says the data is a tool to provide would-be home buyers insight to the local property market.

“We thought it would be an interesting data set, particularly in giving hopeful home buyers perspective in what housing costs can be,” Owen told The Urban Developer.

THE STANDOUT SUBURBS? Owen says the biggest surprise from the findings was the buying options for units located in inner Melbourne and inner Brisbane.

“In these suburbs, it was actually cheaper to pay off a mortgage on that typical purchase point than it was to rent,” Owen said.

“So inner city suburbs of Brisbane like Bowen Hills, Fortitude Valley and Spring Hill have an average rental premium of $57 in rent over the median mortgage repayment.

“Melbourne’s inner city suburbs included Southbank, Melbourne, and North Melbourne with the data showing it worked out to be around $1000 to $2000 cheaper annually.”

Domain compared rent and mortgage repayments across 42 per cent of greater Sydney, but Lakemba was the sole suburb that showed up in Sydney’s findings, with a mortgage repayment on a comparable property cheaper by $1 per week than the median rental price.

But Owen said there are suburbs across greater Sydney where first home buyers could consider buying in if they were able to increase the weekly budget by up to $100.

“They were mainly the western suburbs of Sydney and the northern part of the central coast, areas like Blue haven for example,” Owen said.

“In Blue Haven there was about $35 in the difference between the mortgage repayments and median asking rents.”

While in Queensland, taking in greater Brisbane, Domain saw a spread of 45 suburbs across both housing and unit stock show up in the results.

THE CALCULATIONS Domain looked at what it costs to buy for a typical first home buyer armed with a 20 per cent deposit, as a key assumption. No added costs are included, such as transfer duties, strata or council rates.

The analysis is based on sales and rent data over the 12-months to April, and the results only includes suburbs that had a minimum of 50 rental and sale observations over the year to April.

Weekly mortgage repayments are based on the median house or unit price for the suburb, on a mortgage rate of 3.5 per cent, taking in the recent cash rate cuts.

→ Image: The Urban Developer

THE PROPERT Y DE VELOPMENT RE VIE W

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Melbourne Suburb

Property Type

Weekly Mortgage Repayment

Weekly Rent

Difference between buying and renting

Abbotsford

Unit

$452

$455

-$3

Bundoora

Unit

$356

$360

-$4

Carlton

Unit

$431

$450

-$19

Collingwood

Unit

$456

$475

-$19

Dandenong

Unit

$272

$295

-$23

Epping

Unit

$321

$330

-$9

Kensington

Unit

$413

$420

-$7

Melbourne

Unit

$461

$540

-$79

North Melbourne

Unit

$408

$430

-$22

Southbank

Unit

$519

$560

-$41

Windsor

Unit

$389

$410

-$21

EDITORIAL

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Sydney Suburb

Property Type

Weekly Mortgage Repayment

Weekly Rent

Difference between buying and renting

Lakemba

Unit

$369

$370

-$1

Brisbane / Greater Brisbane Suburb

Property Type

Weekly Mortgage Repayment

Weekly Rent

Difference between buying and renting

Albion

Unit

$378

$380

-$2

Beenleigh

House

$328

$340

-$12

Bellmere

House

$329

$360

-$31

Bethania

House

$327

$345

-$18

Boronia Heights

House

$329

$350

-$21

Bowen Hills

Unit

$339

$418

-$78

Brassall

House

$327

$330

-$3

Bray Park

House

$408

$410

-$2

Brisbane City

Unit

$484

$490

-$6

Bundamba

House

$304

$310

-$6

Caboolture South

House

$312

$320

-$8

Calamvale

Unit

$346

$395

-$49

Capalaba

Unit

$354

$380

-$26

Chermside

Unit

$377

$380

-$3

Cleveland

Unit

$405

$415

-$10

Collingwood Park

House

$329

$330

-$1

Crestmead

House

$320

$350

-$30

Deception Bay

Unit

$240

$305

-$65

Eagleby

Unit

$221

$300

-$79

East Brisbane

Unit

$359

$365

-$6

Fortitude Valley

Unit

$358

$400

-$42

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Brisbane / Greater Brisbane Cont.

Goodna

House

$312

$315

-$3

Hillcrest

House

$334

$350

-$16

Holmview

House

$373

$395

-$22

Kallangur

Unit

$272

$310

-$38

Kelvin Grove

Unit

$369

$400

-$31

Kingston

House

$309

$320

-$11

Loganholme

House

$365

$395

-$30

Moorooka

Unit

$318

$350

-$32

Morayfield

House

$336

$350

-$14

Morayfield

Unit

$300

$310

-$10

Mount Gravatt East

Unit

$389

$400

-$11

Mount Warren Park

House

$371

$385

-$14

Nundah

Unit

$359

$370

-$11

Raceview

House

$318

$340

-$22

Redbank Plains

House

$315

$340

-$25

Regents Park

House

$378

$380

-$2

Richlands

Unit

$341

$360

-$19

Rothwell

House

$383

$390

-$7

Runcorn

Unit

$341

$400

-$59

Spring Hill

Unit

$367

$419

-$52

Springfield Lakes

House

$392

$400

-$8

Taringa

Unit

$364

$369

-$5

Upper Mount Gravatt

Unit

$401

$440

-$39

Waterford

House

$367

$400

-$33

Yarrabilba

House

$369

$370

-$1

MARKE T MOVES

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AROUND THE COUNTRY Charter Hall and Canada’s Public Sector Pension Investment Board came together to acquire the 47-storey, A-grade CBD office tower at 242 Exhibition Street, in an off-market transaction worth $830 million. The tower retains 100% occupancy by Telstra and recently underwent a $67 million upgrade to the lifts and base building areas.

Large shopping and lifestyle centres have had a bit of a run, with many finding their way into new hands over the past few weeks.

Woolworths sold a 26.47-Ha land parcel adjacent to the newly built Mernda Train Station for $51.5 million.

The site was secured by a local developer who intends to build a shopping centre, set to commence trading in mid-2020.

Primewest added the Geelong Gate Lifestyle Centre in Corio to their Third Diversified Income Trust for $44.25 million. While a local family picked up the Highpoint Lifestyle Centre in Maidstone for $25 million.

Collingwood continues to earn its reputation as a commercial hot spot, after a vacant half-floor office in Oxford Street sold for $3.55 million to a private owner-occupier.

In a demonstration of someone’s bad luck transforming someone else’s good fortune, local developer Stellar were forced to sell permit approved Balaclava block for a speculated $2 million after going into receivership in July. Stellar picked up the property for $2.375 million in August 2017 and obtained a permit for a five-storey office development. The new owner is a Melbourne based builder.

NEW SOUTH WALES Charter Hall have been busy around the country, this time partnering with Abacus to purchase 201 Elizabeth Street in Sydney’s CBD for $630 million. The partnership comprises of a 68% and 32% split respectively.

The A-Grade commercial building overs 34 levels of office accommodation above a lower ground food court and two levels of basement parking. The property is set to benefit from the new Pitt Street metro station, anticipated to open in 2024, which will be located diagonally opposite the property.

Shopping centres weren’t just a Victorian game with GPT Property Group relinquishing one of their neigh-

bourhood centres in Leichhardt to a private local investor for just over $153 million.

Doma Group’s first office project in Newcastle's Honeysuckle precinct has sold for $52.2 million – the highest-priced office sale in Newcastle. The A-Grade seven-storey commercial building was picked up IOOF Investment Management, and is currently fully leased to seven separate tenants.

Dicker Data has negotiated a sale and leaseback of their Kurnell distribution centre, selling to real estate fund manager EG for $36 million. The site was originally purchased by Dicker in 2007 for $6.5 million.

A high profile Cross Street arcade, in Sydney’s glitzy Double Bay retail precinct, has sold for a little over $10 million after attracting over 200 enquiries.

A property with development approval for a 76room hotel in Haberfield, traded hands from a local developer to private accommodation provider Benbrell for $8.5 million.

QUEENSLAND A 14-storey office building in Brisbane’s legal district has sold for just over $42 million to Dymocks Properties. The tower, situated at 420 George Street, sees an over double return for previous owners Melbourne’s Forza Capital who purchased the property in 2015 for $20 million.

Melbourne based fund Collective Capital Investments has acquired a state-of-the-art building serving as the head office of Energy Queensland in Cairns for $14.7 million from local developer Terry Plos.

United Petroleum boss Avi Silver used his private entity Topmore to purchase a development site in Upper Coomera for $8 million. The property was sold with development approval for a mixed-use development project. Mr Silver has decided to develop a service station over a section of the large 26.4-hectare vacant site.

A development approved Brisbane CBD site, situated on Carl Street in Woolloongabba has for $3.12 million to a private developer. The new owner intends to build 40 one-bedroom, 47 two-bedroom and 2 three-bedroom apartments for a build-to-rent project.

Another development approved site, this time in Ipswich, has sold to a private Brisbane based syndicate for just over $11 million in an off-market transaction. The 39.26-hectare landholding has development approval for a 277-lot subdivision.

Content by: Jack M. Gaffney

VICTORIA

THE PROPERT Y DE VELOPMENT RE VIE W

↓ 80 Flinders Street, Adelaide.

Image: Centuria Capital

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SOUTH AUSTRALIA

WESTERN AUSTRALIA

Singapore-listed property trust, Suntec REIT, has snapped up the Allianz Centre in Adelaide for $148.3 million. The sale was the fifth Adelaide office tower to sell for over $100 million in close to 12-months, highlighting the growing appetite for commercial assets in this central precinct. The 12-storey A-grade tower was previously owned by private syndicator Arc Equity Partners who secured it for $81 million in 2011.

Lendlease traded an A-grade office and carpark property on Flinders Street in the Adelaide CBD to Centuria Capital Group for $127 million, far exceeding original price expectations of about $115 million.

The former home of Messenger Press in Port Adelaide has sold to the Church of Scientology for $3.24 million. The church proceeded with the purchase after securing planning consent to redevelop the property into a place of worship and community centre. The 4,700sqm was purchased by the previous owners in 2013 for $1.76 million.

Retail and shopping centre movements weren’t just isolated to the east coast. A neighbourhood shopping centre in Alkimos, to Perth's north-west, traded to a private local investor for just over $34 million. Anchored by a Coles supermarket, which is retaining a 15-year lease, Trinity Village comprises of 16 separate tenants, including a Shell service station, medical centre and childcare centre.

Woolworths divested its self-anchored Banskia Grove shopping centre in Perth’s north for $27.28 million to a private Singapore-based investor.

WA was decorated by more commercial sales, with a 7-Eleven service station in Gosnells tipping over $5 million recently. The 1,945sqm site sits opposite the IGA-anchored Corfield shopping centre and adjoins a 3.27-hectare site with development approval for a 36lot residential subdivision.

A vacant site in Cannington was sold for $3.35 million to a Singaporean developer who will be seeking planning approval for a nine-storey mixed-use apartment building.

STATE SPOTLIGHT

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STATE SPOTLIGHT: VICTORIA

Suburb Report: Williamstown

Victorian Auction Schedule

State Dumps $30bn ‘Smart City’

Victorian Listings

Content by: Jack M. Gaffney

THE PROPERT Y DE VELOPMENT RE VIE W

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Suburb Report: Williamstown With its historic facades, beautiful parks and waterfront lifestyle, it’s clear to see why Williamstown is such a high-demand market for developers and residents alike. This quaint bay-side pocket of Melbourne draws a multitude of different residential demographics who all fundamentally seek the same thing; proximity to the CBD (9km) with a village feel. Williamstown over delivers on all things ‘nice’, and it’s not just the residents who think so. Tourists and day-trippers can regularly be found relaxing in the parks or eating fish and chips by the shore.

RESIDENTS Such is the demand for a Williamstown postal code that the geographic boundary has slowly grown over the years. Williamstown North has given up some of its territory south of Kororoit Creek Road and with that it’s understandable that the population has reportedly risen. As of the 2016 Census there were 13,969 official residents.

The median age sits around 42, and while there is strong representation of older families, younger couples and independents are also prominent segments. A range of schools, transport options and relaxing outdoor lifestyles make Williamstown a pretty desirable place for families to set up roots.

→ Gem – Waterline Place.

Image: BC Hobson

CULTURE

SIGNIFICANT PROJECTS

Relaxation amid a localised hustle and bustle; Williamstown is a popular experiential suburb that comes across genuine and delightful.

Offering a gorgeous waterfront that looks across the bay to the city skyline, historic buildings and a range of markets, the sense of community can be felt in the air. With residents ambling around enjoying the thoroughfare, and markets that draw many Melbournian tourists, both commercial and residential developments are well-placed to capitalise on this seemingly endless demand for a slice of Williamstown life.

GEM - WATERLINE PLACE: Named after the paddle steamer that ferried people from Williamstown to Port Melbourne in the 19th century, Gem is a ten-storey apartment by AV Jennings. The tower will contribute a further 92 residential dwellings to the already 600 strong, townhouses and apartments which form part of the $450 million Waterline Place complex.

Architecture Firm Elenberg Fraser is responsible for the designs, and drew inspiration from the historical and maritime characteristics of Williamstown. The project is currently in construction and offers one, two and three bedroom configurations.

PRICE HOUSES: The median house price in Williamstown, as of June 27 2019, sits at $1.323 million. Whilst this is down from its peak of $1.5 million 12-months ago, it has held its price more favourably compared to most other suburbs across Victoria. Overall looking at a broader five-year period, however, reveals an increase that would have delivered property investors a potential capital gain of nearly 44%. Weekly median advertised rent is $600.

UNITS: The median unit price in Williamstown, as of June 27 2019, is $645,000. Units have performed well, enjoying a steady increase across the past 12-months and the longer five-year period too (around 15.8%).

Weekly median advertised rent is $425.

STATE NE WS

STATE DUMPS CONSORTIUM BEHIND $30BN ‘SMART CITY’ PROPOSAL Content Supplied by:

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THE PROPERT Y DE VELOPMENT RE VIE W

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The consortium behind plans for a $30 billion hi-tech smart city has been given the flick, as the Victorian government confirmed it will not progress with plans for its development in Melbourne’s west.

← Image: The Urban Developer

In a statement, Minister for Priority Precincts Gavin Jennings said government had decided to “conclude the expression of interest process for the sale for land” in East Werribee.

“Following careful examination, the Australian Education City proposal for the East Werribee Employment Precinct will not proceed,” Jennings said.

The Australian Education City consortium had been selected as the preferred bidder back in November 2015 on the project that had since stalled.

Plans included the transformation of 412-hectares of state-owned land into an education city designed to house 70,000 residents.

“The government thanks the Australian Education City group, including local and international partners, for its time and involvement in the project and process,” Jennings said.

The new hi-tech precinct, which had been described as a “Silicon Valley of Melbourne”, aimed to combine industry and universities 32-kilometres south-west of Melbourne's CBD, and create a “gateway between the West and China” through its education city.

AEC had outbid three of Australia's largest property development companies for the rights to develop the Werribee site.

AEC is governed by a board of directors, including executive chairman Bill Zheng, executive director Ross Martiensen and chief executive John Tabart.

AEC’s Zheng had described the opportunity to build the first purposely built international collaborative campus as a “blank piece of paper” that would become a “showcase for Australian education”.

AEC consortium, backed by the Investors Direct Financial Group, had listed its project partners on its website as including PwC, engineering giant Jacobs, IBM, Honeywell, Cisco and Urbis.

While the state government said it acknowledged the importance of strengthening ties between universities and industry in Melbourne's west, it did not mention new plans for the precinct.

Victoria attracts more than 175,000 international students a year from more than 160 countries.

The minister reiterated state government's investment in the East Werribee precinct with the $95 million St Vincent’s Private Hospital development, and the $85 million expansion of the Werribee Mercy Hospital.

The AEC were contacted for comment.

↓ Image: The Urban Developer

AUCTION & EOI SCHEDULE

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Your list of upcoming Auction and Expression of Interest (EOI) closing dates for all major Victorian properties.

Click on the link to view the listing.

61-65 Victoria Street

Collingwood

Auction

Fri 06.09.19 @12:30pm

Allard Shelton

View

21-53 Hoddle Street

Collingwood

EOI

Thu 05.09.19 @5pm

ICR & CBRE

View

91-97 Islington Street

Collingwood

Auction (On-Site)

Thu 29.08.19 @12pm

Colliers Intl. & Aston Comm.

View

1261 Ballarto Road

Cranbourne East

EOI

Tue 17.09.19 @5pm

Real Properties

View

65s Evans Road

Cranbourne West

For Immediate Private Sale

Contact Agent

Real Properties

View

820 Main Road

Eltham

Auction (On-Site)

Thu 15.08.19 @12pm

Knight Frank

View

203-207 Nepean Highway

Gardenvale

Auction (On-Site)

Thu 12.09.19 @12pm

Knight Frank

View

15 & 19 Hartington Street

Kew

Auction (On-Site)

Thu 29.08.19 @10:30am

CBRE

View

596 St Kilda Road

Melbourne

EOI

Fri 30.08.19 @2pm

CBRE

View

4 Birchwood Drive

Mooroolbark

EOI

Thu 05.09.19 @2pm

Allard Shelton

View

88 Leveson Street

North Melbourne

EOI

Wed 21.08.19 @3pm

Knight Frank & Teska Carson

View

37-43 Rogers Street

Pakenham

EOI

Thu 12.09.19 @2pm

Colliers Intl.

View

350 Malvern Road

Prahran

Auction (On-Site)

Wed 04.09.19 @12pm

Gorman Commercial

View

45 Mundy Road

Sunbury

EOI

Fri 06.09.19 @3pm

ICR & MCG

View

203 Mountain Highway

Wantirna

EOI

Thu 26.09.19 @2pm

Colliers Intl.

View

THE PROPERT Y DE VELOPMENT RE VIE W

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For a confidential discussion about how we can deliver Real Results for your property, contact us today.

Real Properties holds an unwavering commitment to helping clients realise the full potential of their investment.

info@realproperties.com.au realproperties.com.au

Our highly skilled and genuine team of industry professionals have extensive consulting experience in helping global and local clients to develop bespoke, highly strategic and a creative approach to every project.

Our services include Commercial, Industrial & Logistics, Property Management, Residential Projects and Site Sales & Investments.

Melbourne (Head Office) Phone: 03 8527 0750 Level 9, 500 Collins Street Melbourne, VIC 3000 Sydney Phone: 02 8014 5562 Level 4, 10 Bond Street Sydney NSW 2000

VICTORIA LISTINGS

18

Frankston (19km)

WESTERN PORT HIGH WAY Future Industrial Future Employment

Cranbourne (3km)

Future Residential

Public Open Space

H

ROA ALL

Lochaven Residential Estate Stage 1 D

Future P-12 School

Future Residential Public Open Space

Future Residential

WATE Urban Park

RWAY ii

Community Centre Opening June 2020

ST

Future Residential

RA

TH

A LE

DR

IV

E

Retirement Village

EV

AN

S

RO

AD

For Sale: 65s Evans Road, Cranbourne West

Mixed-Use Development Site with Planning Approval • 1.32ha* zoned Urban Growth Zone (UGZ) • Planning approval for mixed-use town centre • P ermit allows for 7,216m2* of GLA across retail, food & beverage, gym, office space and medical centre, plus 240 car spaces

In the Heart of Melbourne’s South-East Growth Corridor, Evans Place offers a rare and perfectly positioned development opportunity. The property is located within the Cranbourne West Precinct Structure Plan (PSP) and adjoins the site of a future Woolworths Supermarket (expected to open June 2020). With an approved permit for a mixed-use development including office, retail, food and beverage, gym and medical centre, Evans Place is perfectly positioned to become the centre of this growing community.

View Listing

Jet Saliu 0432 898 689 jsaliu@realproperties.com.au

oolworths Supermarket (expected to open June • W 2020) confirmed for the adjacent site For Immediate Private Sale

www.evansplace.com.au

Ben Ameti 0434 551 577 bameti@realproperties.com.au

Joseph Catanese 0418 367 514 jcatanese@realproperties.com.au

THE PROPERT Y DE VELOPMENT RE VIE W

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For Sale: 1261 Ballarto Road, Cranbourne East

Mortgagee Sale in Australia’s Largest Growth Rate Suburb • • •

1261 Ballarto Road offers a high-profile town centre development opportunity for an owner and developer wanting to make their own mark in Australia’s largest growth suburb. This ideally positioned property is located within the Cranbourne East PSP, surrounded by established and future residential developments, a future employment precinct and only moments from the South Gippsland Highway. An existing permit exists for a 4,688m² (GLA) neighbourhood shopping centre, with potential for the purchaser to add their own mark to this exciting development.

View Listing

Jet Saliu 0432 898 689 jsaliu@realproperties.com.au

•

•

Significant 1.28ha* Urban Growth Zone (UGZ) L ocated in the Cranbourne East PSP Neighbourhood Activity Centre A pproved permit for a 4,688m2 (GLA) neighbourhood shopping centre S ignificant local infrastructure investment including stage 2 of Ballarto Road upgrades in 2019/20 between South Gippsland Highway & Casey Fields Boulevard I mmediate proximity to Cranbourne East’s future employment hub and several rapidly growing land estates

Expressions of Interest Closing Tuesday 17th September at 5pm www.ballartoroad.com

Ben Ameti 0434 551 577 bameti@realproperties.com.au

Joseph Catanese 0418 367 514 jcatanese@realproperties.com.au

VICTORIA LISTINGS

20

21 –53

Hoddle Street COLLINGWOOD

Cnr Langridge, Hoddle & Islington

Melbourne CBD (1.6km*) Fitzroy Gardens (700m*) East Melbourne

Sporting Precinct (1.2km*)

Bunnings Warehouse

Outline Indicative Only

SCALE, SCOPE AND INCOME A PREMIUM CITY FRINGE GATEWAY LANDMARK INVESTMENT

•

Currently improved with a prominent four (4) level showroom and office building of 15,410sqm* and offered with strong income stream of $2,500,000 net p.a*

•

Highly flexible Commercial 1 Zoning, allowing for future mixed-use, residential, office or hotel development (STPA)

•

Superbly positioned in the heart of booming Collingwood, the property is located just 1.6km* away from the Melbourne CBD.

•

Excellently serviced by public transport - Victoria Parade tram line and North Richmond and Collingwood Train Stations

•

Quality retail amenity within walking distance. Smith & Gertrude Streets, an iconic day and night precinct and the Hive Shopping Centre

•

Surrounded by the very best of Melbourne - MCG & Sporting Precinct, Yarra River Walking/Cycling Trail, Fitzroy Gardens and Australian Catholic University all within close proximity

Islington Street 100.05m*

123.59M*

Langridge Street

Prime Collingwood landholding of 5,390sqm* with an extensive triple street frontage totalling 272m*

47.93m*

•

Hoddle Street

Raff De Luise

Julian Materia

Julian White

Josh Rutman

Mark Wizel

+ 61 418 533 633

+ 61 498 188 011

+61 422 764 137

+61 499 881 202

+61 409 809 868

For Sale via International Expressions of Interest Closing Thursday 5th September 2019 at 5.00pm (AEST) *approx

THE PROPERT Y DE VELOPMENT RE VIE W

21

VICTORIA LISTINGS

22

Permitted development site in CBD dress circle.

88 Leveson Street, North Melbourne VIC. For Sale by Expressions of Interest closing Wednesday, 21 August at 3pm (AEST).

Mixed-use zoning

Permit for 15 luxury townhouses

Potential to refurbish

The property is offered for sale with approval for a boutique residential development comprising 15 luxury townhouses.

Current improvements comprise a part 2 level office warehouse with a gross building area of approximately 1,200 sqm. The existing building provides the option to refurbish and hold for a combination of office and retail.

Danny Clark 0448 066 889 Ed Wright 0421 213 021 View Listing

Matthew Feld 0415 803 348 Adrian Boutsakis 0433 138 768

*Approx.

Site area 1,411 sqm*

This exceptional development site is situated in North Melbourne’s premier street, approximately 1km north of the Melbourne CBD. The property is surrounded by cafes, retail shops and public transport services. The site is a leisurely walk to the city, well serviced by trams, buses and the North Melbourne Train station. Private vehicle connectivity is provided by the major arterials of Flemington Road, City Link, and Victoria Street.

THE PROPERT Y DE VELOPMENT RE VIE W

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Connecting people & property, perfectly.

203-207 Nepean Highway, Gardenvale VIC.

On-Site Auction

Thursday, 12 September at 12pm (AEST).

Magnificent site of 1,123 sqm*

Street frontage of 31 m*

CZ1 and CZ2 Zoning

Exceptional Bayside Opportunity Invest/Occupy/Develop.

*Approx.

Situated moments away from Gardenvale Station, Martin Street and Bay Street retail precincts, 203 - 207 Nepean Hwy is perfectly situated for a premium development opportunity (STCA). Scaling over 1,123 sqm* of CZ1 and CZ2 land, this position allows a purchaser to capitalise on the premium location and exposure to over 70,000* passing cars daily.

Danny Clark 0448 066 889 Ed Wright 0421 213 021 View Listing

820 Main Road, Eltham VIC. On-Site Auction

Thursday, 15 August at 12pm (AEST).

594 sqm* prime mixed-use land holding

Strong potential holding income

Plans and permits in place

Exceptional position with long term upside.

Paul Lillis 0402 381 399 Tim Grant 0478 666 275 View Listing

*Approx.

Currently comprised of ground floor retail formerly housing a cafĂŠ and a 2 bedroom residence above an astute buyer will recognise the flexibility offered for short to medium term strong holding income, or immediate development.

Perfectly positioned on the high side of Main Rd, offering stunning views towards Diamond Creek. With a short walk to Eltham Station, Eltham Shops, Schools & Parklands the property provides a central location with a leafy feel.

VICTORIA LISTINGS

24

AWARD WINNING PITRUZZELLO ESTATE OLIVE GROVE & VINEYARD 45 MUNDY ROAD, SUNBURY VIC 3429

Investment Highlights: • Total land size: 63.4 ha* •P lus 24 ha* of vacant undeveloped land •S ubstantial land holding in prime location •W ell established olive tree plantation and vineyard of 12,000 olive trees and 13,000 vines • Processing facility and machinery shed •F unction centre, restaurant and café licensed for up to 890 patrons* • Immaculate 4-bedroom residence • 20 megalitre* dam and recycled water use • Green Wedge Zoning *Approx.

• 41 kms* from Melbourne CBD Expressions of Interest Closing Friday 6th September at 3pm.

Domenic Dastoli 0418 370 242 PROPE RT Y G ROU P

03 9321 6888

Raff De Luise 0418 533 633 Julian Materia 0498 188 011

Wantirna Health Precinct (WHP) is a State significant health precinct that will help to support and complement existing health services in Wantirna and create new opportunities for a wide range of Accelerating success health-related services, employment, education and Reach more people – better faster. is directly adjacent to research.

This 21.8results ha precinct 203 Mountain Highway, Wantirna.

THE PROPERT Y DE VELOPMENT RE VIE W

EASTERN PARK – MELBOURNE’S ULTIMATE DEVELOPMENT OPPORTUNITY

Wantirna Health

25

View Now

Knox Private Hospital

Future Wantirna Health Precinct

EXPRESSIONS OF INTEREST 'Eastern Park’ – 203 Mountain Highway, Wantirna, VIC, 3152

– Expansive land holding of 83,220 m²*

Closing Thursday 26 September at 2pm

– In addition to the permitted townhouses there is a super-lot of 5,565m2.

Colliers International is proud to offer this exceptional development opportunity in the sought after Eastern suburbs of Melbourne. ‘Eastern Park’ offers a unique opportunity to acquire a permit approved site designed by Rothelowman Architects that delivers a high quality product in a tranquil suburban location.

Trent Hobart 0433 196 452

Jozef Dickinson 0402 678 888

– Potential for in excess of 350 dwellings, with a significant number of dwellings already approved for townhouses via a Rothelowman permit

– Situated within established residential catchment.

– Easy access to strong retail amenity.

– Positioned close to the intersection of Mountain Highway, Boronia Road, and Wantirna Road and with connectivity to Eastlink / Eastern Freeway exceptional.

Hamish Burgess 0421 641 497

Oliver Hay 0419 528 540

colliers.com.au

VICTORIA LISTINGS

26

91 97 ISLINGTON

View Now

C O L L I N G W O O D

F O R S A LE B Y P U B L I C A U C T I O N

CONQUER COLLINGWOOD’S BEST PARCEL PUBLIC AUCTION On-site Thursday 29th August at 12pm (AEST) 91-97 ISLINGTON STREET, COLLINGWOOD For more information, please contact the below Conjunctional Selling Agents.

– – – – –

Land Area: 771m²* Building Area: 355m²* Commercial 2 Zoned Prime City Fringe Location Suits Multi-Storey Office Development^ *Approximately ^ STCA

TED DWYER 0411 312 165

ANDREW RYAN 0408 543 527

JEREMY GRUZEWSKI 0422 211 021

MAX WARREN 0488 296 892

ted.dwyer@colliers.com

andrew.ryan@colliers.com

jeremy@astoncommercial.com.au

max@astoncommercial.com.au

THE PROPERT Y DE VELOPMENT RE VIE W

27

Accelerating success Reach more people – better results faster.

APPROVED DEVELOPMENT SITE IN PAKENHAM ACTIVITY CENTRE FOR SALE – EXPRESSIONS OF INTEREST CLOSING THURSDAY, 12TH SEPTEMBER AT 2PM 37-43 Rogers Street, Pakenham VIC 3810 – – – –

Total site area of 11,522 m²* Four individual properties along two road frontages being sold in one line General

Residential Zoning (GRZ1) within the City of Cardinia planning scheme Permit

approval for 54 townhouses with a total NSA of 5,500 m²*

View Now

Jun Lai 赖锦伟 0456 535 000

Joe Kairouz 0421 430 638

Hamish Burgess 0421 641 497

9811 4222

gormancommercial.com.au

415 Riversdale Road Hawthorn East

AUCTION Wednesday 4th September at 12 noon on-site 350 Malvern Road, Prahran DEVELOPERS / INVESTORS / OWNER OCCUPIERS •

Land area: 400 sqm*

•

Mixed use zoning

•

Rear access via York Street

•

Short-term income

•

Excellent surrounding height precinct for planning confidence

•

Located between Hawksburn Village and Chapel Street directly opposite Leonard Joel *Approx

Jonathon McCormack 0418 835 885

Stephen Gorman 0418 321 828

VIEW LISTING

VICTORIA LISTINGS

28

MOOROOLBARK LI JU ST ST ED

4 Birchwood Drive

SIGNIFICANT DEVELOPMENT OPPORTUNITY For more information please contact: Joseph Walton Michael Ryan James Gregson

0417 309 347 0433 180 199 0421 516 480

VIEW LISTING

COLLINGWOOD LI JU ST ST ED

61-65 Victoria Street

PROMINENT CBD FRINGE OPPORTUNITY For more information please contact: Joseph Walton Michael Ryan James Gregson

0417 309 347 0433 180 199 0421 516 480

VIEW LISTING

9654 3222

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

THE PROPERT Y DE VELOPMENT RE VIE W

29

Same isn’t a great formula for development.

Or life.

As the saying goes, if you’re doing the same thing and expecting a different result, you’re bound to be disappointed.

In fact, the result could easily be worse.

Aston Commercial is a different type of agent.

A difference shaped, by our history as a trusted generational advisor and our commitment to embracing change.

We do our homework first and talk second.

We’re not in it for the quick sting, but for the long term.

We’re as willing to say “no” as “yes” when we believe that’s the right answer.

Talk to us about a different way.

Call 8532 2222.

Fred Nucara Director 0418 567 560

Jeremy Gruzewski Director of Agency 0422 211 021

astoncommercial.com.au

a different way

STATE SPOTLIGHT

30

STATE SPOTLIGHT: NEW SOUTH WALES

Suburb Report: Castle Hill

New South Wales Auction Schedule

CBD Development Site Hits the Block

New South Wales Listings

Content by: Jack M. Gaffney

THE PROPERT Y DE VELOPMENT RE VIE W

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Suburb Report: Castle Hill 24km north-west of Sydney’s CBD lies one of the state’s most burgeoning and transformative suburbs; Castle Hill. Several infrastructure projects have recently been completed and a number are in the pipeline. Castle Hill is transforming itself as a major centre as specified in the government’s Metropolis of Three Cities strategy. Construction was completed this year on the much-anticipated North West Rail Link, with Castle Hill now offering its very own train station. Multiple pockets to the east have been targeted for a mix of uses, including mid-rise apartment buildings. But it’s not all development for the sake of progress as the council looks to preserve some of the low-density suburban character found across the rolling hills to the west and south. The balance between modernity and residential charm is looking just about right.

a premium price, while first home buyers are SIGNIFICANT PROJECTS attracted to recently developed apartments and townhouses.

SKYVIEW: Developer Toplace is developing this new master-planned community to CasCULTURE tle Hill, with five residential towers offering a collection of luxury one, two and three bedThere truly is a blend of suburban and coun- room apartments. try lifestyles, with seemingly endless bush- The site overlooks the Castle Towers land views to one side and the massive Cas- Shopping Centre and offers residents spectle Towers Shopping Complex to the other. tacular natural vistas and a superb range of The State Government announced plans in on-site amenities. Kirkis Taylor is the archi2019 to further expand Castle Towers into tecture firm behind the designs.

New South Wales’ largest shopping centre ATMOSPHERE: This new two tower res(construction to commence shortly). idential development is another Toplace and

Slowing down is easily accomplished as Kirkis Taylor project. Situated on the opposthe gorgeous Heritage Park provides ample ing side of the Castle Towers Shopping Cenroom for small kids or dogs along with some tre to Toplace’s Skyview development, Atnearby local shops for casual browsing. mosphere will deliver two 17 and 20 storey residential towers, boasting the tallest in the PRICE region.

RESIDENTS The ABS estimated population for Castle Hill as of mid-2019 is 42,245; an increase of 11.4% since the 2011 census.

Ageing families, retirees and city workers who don’t mind the city-commute define the residential flavour of this suburban fringe community. The area was at one time dominated by rolling fruit orchards, but land has since been transformed into business parks and shopping centres. As such, large stately homes are holding their value and command

HOUSES: The Castle Hill address offers many residents a source of pride and with that comes a superior price. The median house price as of 29 July 2019 was $1.328 million.

Weekly median advertised rent is $650.

UNITS: A similar story could be said for units, as first home buyers look to enter this highly desirable locality. The median price for units as of 29 July 2019 is $815,000 thereby attracting astute developers and investors.

Weekly median advertised rent is $500.

STATE NE WS

32

CBD DEVELOPMENT SITE HITS THE BLOCK Content Supplied by:

A development approved site in Sydney’s CBD has hit the market with a permit in place for a 17-storey retail and hotel development.

The 455sq m site at 750 George Street could realise $40 million for its Hong Kong-based owner who secured the site in 2014.

The approval allows for 123 hotel rooms and 687sq m of premium George Street retail space.

The listing joins an amalgamated development site which also hit the market this week, located on the corner of George Street and Goulburn Streets, with development approval for a 40-storey tower.

Owner KGH, led by Pierre Wakim and Mario Khaicy, hope to fetch $130 million for the 1,225sq m Sydney CBD site.

CBRE’s Nicholas Heaton, Gemma Isgro, Nick Wheatley and Andrew Jackson have been appointed as agents on the sale process in conjunction with Knight Frank’s John Bowie Wilson & Dominic Ong on 750 George Street.

“The wealth of amenity surrounding the building will be enhanced over the coming years with the competition of over $18 billion of government infrastructure,” CBRE’s Nicholas Heaton said.

The 750 George Street asset is being offered by expressions of interest closing 7 August.

↙ Image: The Urban Developer

AUCTION & EOI SCHEDULE

33

Your list of upcoming Auction and Expression of Interest (EOI) closing dates for all major New South Wales properties.

Click on the link to view the listing.

73-75 Windsor Road

Baulkham Hills

Auction

Tue 03.09.19 @10:30am

JLL

View

26 Second Avenue

Blacktown

Auction

Tue 03.09.19 @10:30am

CBRE

View

14-16 Range Road

Gosford

Auction

Thu 22.08.19 @10:30am

Cushman & Wakefield

View

291 & 293 Condamine Street

Manly Vale

EOI

Wed 14.08.19 @4pm

Colliers Intl.

View

58 Bolton Street

Newcastle

Private Sale

Contact Agent

Street Property

View

160 Pacific Highway

North Sydney

EOI

Wed 18.09.19

Colliers Intl.

View

26-28 William Street

Port Macquarie

Private Sale

Contact Agent

Thorn Property

View

30 Fraser Drive

Tweed Heads South

EOI

Thu 05.09.19 @4pm

Colliers Intl.

View

NE W SOU TH WALES LISTINGS

34

Accelerating success Reach more people – better results faster.

PERFECTLY PLACED NORTH SYDNEY FRINGE DA APPROVED DEVELOPMENT SITE

EXPRESSIONS OF INTEREST 160 Pacific Highway, North Sydney, NSW, 2060 Closing Wednesday 18th September 2019 (AEST)

Henry Burke 0418 238 636 henry.burke@colliers.com

View Now

– DA approved for 24 sophisticated residential apartments – Perfectly placed in a North Sydney CBD fringe location – North facing corner site with three sides – Bathing in natural light from north-east / north-west aspect – District & Sydney Harbour views from upper levels – Surrounded by an abundance of retail and lifestyle amenity – Direct access to trains & buses servicing the Sydney CBD and metropolitan surrounds – Excellent schools, medical & amenity within walking distance – Currently a functional, well maintained 5-level freehold with NLA of 980sqm & parking for 13 cars

Tom Appleby 0405 693 696 tom.appleby@colliers.com

colliers.com.au

THE PROPERT Y DE VELOPMENT RE VIE W

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Accelerating success Reach more people – better results faster.

MIXED USE FREEHOLD INVESTMENT W. MULTIPLE VALUE ADD OPTIONS

EXPRESSIONS OF INTEREST 291 & 293 Condamine Street, Manly Vale, NSW, 2093

Henry Burke 0418 238 636 henry.burke@colliers.com

View Now

– 2 retail shops, 4 residential apartments & 4 car spaces – Large, oversized 3 x 3 bedrooms & 1 x 2 Bedroom apartments – Fully leased gross income of $160,000 (Approx.)

– High exposure retail frontage to Condamine Street – 50 metres to B-Line express bus – Zoned B2 Local Centre with site area of 409m² (approx.)

– Opportunity to refurb, develop, sub divide current units or strata (STCA) – Convenient position close to huge amount of retail amenity

Harry Bui 0418 477 888 harry.bui@colliers.com

colliers.com.au

NE W SOU TH WALES LISTINGS

36

Norwest Development Site Adjoining Castle Hill Auction 73-75 Windsor Road, Baulkham Hills, NSW, 2153 – Site area 23,530 sqm* – Stage 1 Approval for 26 residential dwellings – S tage 2 DA Pending for 37 dwellings, 2 retail buildings and incorporated basement level car park – Z oned B1 Neighbourhood Centre & R3 Medium Density Residential – Adjoins Castle Hill Country Club – 5 00m* from Castle Hill commercial precinct, 2km* from the new Norwest Metro light rail station

Dylan McEvoy 0406 560 204 Ben Hunter 0499 486 999 VIEW LISTING

THE PROPERT Y DE VELOPMENT RE VIE W

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FOR SALE

26 SECOND AVENUE, BLACKTOWN NSW 2148 DA APPROVED 90 UNITS In conjunction with Colliers International, CBRE is pleased to offer 26 Second Avenue, Blacktown to the market via Public Auction, being held on Tuesday the 3rd of September at 10:30am at AuctionWorks, Mezzanine Level, 50 Margaret Street, Sydney NSW 2000. + Site area: 998sqm* + Zoned B4 Mixed Use + DA Approved for 90 apartments, 153sqm* of retail and commercial with a total GFA of 7,932sqm* + Short 350m* walk to Blacktown Train Station and Bus interchange + 650m* stroll to Westpoint Shopping Centre + Excellent road infrastructure with major arterial roads to and from Blacktown including the M2, M4, and Great Western Highway *Approx

ALEX MIRZAIAN 0400 523 523 property.cbre.com.au

LORD DARKOH 0434 675 724

HARRY BUI 0418 477 888

VIEW LISTING

NE W SOU TH WALES LISTINGS

38

GOSFORD 14-16 Range Road DA APPROVED FOR 48 APARTMENTS • 5 storey design + basement 68 Car spaces • Current gross income $95,000pa • Close to CBD & Gosford private hospital • Owner’s instruction to sell • Five storey design with 68 basement car spaces • Elevated site with district views • Current house + 7 residential flats income $95,000pa • Total site area 1,898sqm • Zoned R1 General Residential

FOR SALE — AUCTION THURSDAY 22 AUGUST, 2019 Charles Gonzalez 0412 279 588 Anthony Bray 0419 322 233

View Listing

THE PROPERT Y DE VELOPMENT RE VIE W

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Accelerating success Reach more people – better results faster.

APPROVED LAND LEASE COMMUNITY SITE - TWEEDS HEADS

FOR SALE 30 Fraser Drive, Tweed Heads South, NSW, 2486

View Now

– Premium freehold in core location – Excellent transport links – Fantastic Lifestyle elements – DA Approved for 110 dwellings – Total site area 4.485ha (approx.)

– Zoned RE2 Private Recreation – Excellent surrounding amenity – Water frontage to private lake – Prepaid Section 94 & 64 contributions

Peter Macadam tel:0402 074 159 peter.macadam@colliers.com

colliers.com.au

NE W SOU TH WALES LISTINGS

40

Selling NEWCASTLE 58 Bolton Street For sale by Expressions of Interest closing Thursday 5th September 2019 at 2pm

5

2

6

• This stunning heritage building offers expansive sized rooms and areas which allows for multiple opportunities to redevelop the building with current approvals for commercial uses on the ground floor and a grand residence on the first floor.

• Gross floor area is 782m2 • Secure car park with automatic roller door, six car spaces and three storages cages • Zoned R4 High Density Residential under Newcastle Local Environmental Plan 2012 • Ground floor pedestrian access direct from Bolton Street and internal access from the basement carpark

0402 009 532

Andrew Walker

0423 617 149

Brooke Degotardi

• First floor accessed by internal stair case or via a lift from the basement carpark to the sky-bridge into the heritage building • A landscaped community area of which this building has the benefit of use • Private paved courtyard spaces

THE PROPERT Y DE VELOPMENT RE VIE W

PRIVATE SALE: 26-28 WILLIA M STREET PORT M ACQUARIE NSW 24 4 4

41

O N E O F TH E L AST REM AIN IN G LUXURY BE ACH FRO NT APARTM ENT SITES IN N E W SOUTH WALES – 54M from front boundary to Town Beach – 26.5M building height (8 floors) allowed – Direct north aspect with ocean views – Lapsed DA for 14 apartments and penthouse – 2:1 FSR (potentially negotiable) – Current owners to buy back one apartment at market value

EN Q UIRIES C ALL: M ARK TH ORN 0419 989 923

VIEW LISTIN G

STATE SPOTLIGHT

42

STATE SPOTLIGHT: QUEENSLAND

Suburb Report: East Brisbane

Queensland Auction Schedule

Brisbane gets Four New Apartment Projects

Queensland Listings

Content by: Jack M. Gaffney

THE PROPERT Y DE VELOPMENT RE VIE W

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Suburb Report: East Brisbane Situated south of the Brisbane River adjoining Kangaroo Point and only 2.5km from the CBD, East Brisbane is undoubtedly one of Brisbane’s most underrated inner-city suburbs. Fortunately, many of the original Queenslander-style homes, which resulted from the property boom through the 1880’s, remain standing and give the neighbourhood a distinctive character-full aesthetic. With great transport links via bus, train and ferry, the picturesque waterways of Norman Creek and the Brisbane River, as well as the abundance of parks, residential developments are highly sought after. Commercial development opportunities catering to the neighbourhood are also yet to be fully realised.

RESIDENTS Population saw an increase of around 6% between the 2011 and 2016 Censuses, with the median age remaining steady at 31. In short, East Brisbane is predominantly comprised of young working professionals and families. 31% of the population live alone, with 15.8% living in a group/share home – this leaves families accounting for 53.2%.

20.4% of the total number of dwellings offer four or more bedrooms which is surprising for a suburb with immediate CBD proximity. There could be opportunity for downsizing aging families, large scale residential projects or subdivisions.

→ The Wellington.

Image: EPV Developments

have dipped since the peak of mid-2017, the recent return-to-favour seen over the past The full amenity of the nearby CBD is eas- quarter has the suburb at 22 on a list of fastily enjoyed by residents, in addition East est appreciating suburbs in QLD. The current Brisbane does offer numerous café and re- weekly median advertised rent is $360. tail options too. According to Walk Score™, East Brisbane is a “very walkable” suburb, SIGNIFICANT PROJECTS meaning that most daily errands do not require a car.

THE WELLINGTON: Taking advantage of the

The parks and waterways are a signifi- East Brisbane property boom is The Welcant treat for joggers, strollers and relaxers. lington by EPV Developments, a mid-rise Great picnic spots can be found in Mowbray apartment development with 127 one and Park along the Brisbane River, and in Heath two-bedroom residences over nine-storeys, Park on the banks of Norman Creek. and space for 171 cars.

Something to note: In the longer term, The New York inspired designs were dethe region and its residents are going to veloped by Hayes Anderson Lynch Architects benefit from the $8 billion Cross River Rail and include a rooftop pool and entertaining Project, which provide rail within the inner- area, as well as a Level 2 amenity area with city underground. Currently train transport BBQ, garden and seating. runs at capacity with the new infrastructure 163 WELLINGTON STREET: Just down set to increase the level of accessibility to the road, at 163 Wellington Street comes anEast Brisbane. other mid-rise residential development with designs drawn up by renowned architecturPRICE al firm, Rothelowman. The eight-story building will encompass 75 apartments.

HOUSES: As of 29 July 2019, the median house price is sitting at $830,000. While experiencing various fluctuations, there has been a reasonably steady upwards trend from the 2013 median price of $640,000. The current weekly median advertised rent is $560.

UNITS: At the same point in time, the median unit price is $381,500. While prices CULTURE

STATE NE WS

44

DA ROUNDUP: BRISBANE GETS FOUR NEW APARTMENT PROJECTS Content Supplied by:

As the Brisbane apartment market continues to show signs of improvement, developers are shifting their focus to boutique projects which appeal to the local owner-occupier market.

The signs in the Brisbane apartment market have been more optimistic of late, with Corelogic-Moody's Analytics recent home value index forecasting Brisbane's apartment values to recover in 2020 after a tough few years following the construction glut between 2013 and 2016.

It also seems that the limited new projects launched in the last two years have created vacancy that will continue to tighten as supply drives up.

And no where is supply more in demand than in Brisbane’s cafe culture hubs of New Farm and West End. Nestled in some of Brisbane’s premiere shopping and dining hubs, they epitomise a the ideal fringe CBD locations, surrounded by a constantly evolving cityscape of eateries, boutiques and essential amenities.

New Farm, one of Brisbane’s best performing suburbs over the past decade, growing by 76.2 per cent in that time, offering sought out lifestyle attributes like bars, restaurants, breweries and high-end fashion stores.

Brisbane’s West End has been hive of development activity of late. Supply of new apartments in West End peaked in 2017, with close to 900 apartments delivered that year. This has steadily decreased with about 200 apartments due to be completed this calendar year.

Here are four notable low-rise medium-density residential projects – flagged by DA tool CityShape – that have recently entered planning assessment or been approved across Brisbane.

← Anthology Image: QM Developments

THE PROPERT Y DE VELOPMENT RE VIE W

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Anthology by QM Properties Brisbane-based developer QM Properties has received approval for its latest residential development, a $32 million project dubbed Anthology, in Brisbane's suburb of New Farm.

QM acquired the site in 2015 for $5.7 million and quickly set plans in motion for an owner-occupier focused development comprising of 26 residences.

The project will comprise just 26 residences, including apartments with a range of different floor plans.

The Rothelowman-designed development will also feature three exclusive penthouses, comprising three bedrooms, three bathrooms and three carparks, with panoramic views of the Story Bridge and CBD skyline, as well as views across the New Farm peninsula

Colliers International residential director Andrew Roubicek, who is marketing Anthology, said the project is positioned to take advantage of New Farm's prime location and popularity.

“New Farm has always been one of the city's favourite areas, with recent Real Estate Institute of Queensland research showing it is in Brisbane's top three highest value suburbs, with home prices jumping 65.3 per cent in the past five years,” Roubicek said.

“In the current market buyers are looking closely not only at a project's location and lifestyle offering, but also the credentials of the developer and architect, and both QM Properties and Rothelowman have a long and proven track record for quality.”

QM Properties has also recently completed Corde Apartments in East Brisbane and is planning to build a 34-unit development on a riverfront site in St Lucia, which it purchased for $8.5 million last year.

The developer has recently amended the 160 Macquarie Street site DA to provide a boutique luxury apartment project comprising 34 three bedroom apartments.

→ The Maison Image: The Urban Developer

The Maison by Frank & Graya Developments Local Brisbane developers Frank and Graya Developments has lodged plans for a residential project in New Farm.

The project, dubbed The Maison, will comprise of a collection of five single floor apartments, each featuring four-bedrooms.

The 1,060sq m project will include architectural landscaping inspired by sub-tropical influences and an over-

all design “inspired by” Sydney's Barangaroo House.

The “skyhomes” have been specifically designed to have an abundance of natural light, and cross ventilation wrapped in landscaping.

“The architectural brief for the project was to create a collection of sky-homes which have the same special qualities and characteristics of a home,” Adsett Architects director Joe Adsett said.

STATE NE WS

Situated only minutes from Brisbane’s Howard Smith Wharves the development will offer views of the Brisbane CBD Skyline and the iconic Story Bridge.

“We wanted to craft a project that was unlike anything New Farm has seen, that meant scaling back the quantity of units and focusing on the needs and wants of owner occupiers,” Frank Developments director Frank Licastro said.

“Four units have direct lift entry and access to the communal rooftop pool and recreation deck, not to men-

46

tion the internal quality in the high end finishes and spacious floor plans.”

“The top floor penthouse has its own private exclusive rooftop pool, dining and lounge which capitalises on the river and city views,” Licastro said.

Pending approval, the development is anticipated to be delivered late-2020.

← The Oxlade Image: Seymour Group

The Oxlade by Seymour Group Brisbane-based developer Seymour Group, led by Queensland rich-lister Kevin Seymour, has launched The Oxlade.

Seymour has been shaping Brisbane’s skyline for more than five decades and is responsible for some of the city’s well-known developments such as Queens Plaza and MacArthur Chambers.

Seymour has four grandchildren, with the eldest, Daniel Farquhar, already well entrenched in the Seymour Group for the past decade.

Remaining grandchildren Kate, Trent and Ben Seymour, are now at the helm of their first residential project, The Oxlade.

Seymour acquired the 2,388sq m riverfront site for $17.3 million late-2016 and quickly set plans in motion for a modelled on a "six-star hotel".

The Bureau Proberts-designed project consists of 39 residences, including two penthouses and 20 three-bed-

room, three-car riverfront apartments with a separate media room. Each residence will have individually secured garages.

“The Oxlade is a must have address and my brief to architect Liam Proberts was to design the ultimate residential masterpiece as anything less would not do this 2,388sq m riverfront parcel of land justice,” Seymour said.

The property sold six apartments and welcomed upwards of 80 groups on its opening weekend with construction of the 39 ultra luxury units set to begin at the end of the year.

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→ Amersham Image: The Urban Developer

Amersham by Di Marco Group & TG Development Brisbane-based Di Marco Group and Singaporean TG Development have lodged plans for their second residential site in Brisbane, a boutique apartment development in West End.

The five-level development, dubbed Amersham West End, will comprise 24 two, three and four-bedroom residences targeted at owner-occupiers.

The 1,325sq m site, located at 8-10 Amersham Street, was purchased for $4.1 million from a local family that had owned the property for over half a century.

According to Di Marco Group managing director Adam Di Marco, the site represents a unique opportunity to capture the holy trinity: elevated, north-east facing city views.

Colliers International Adam Rubie and Brendan Hogan negotiated the sale of the Amersham Street site, which is zoned ‘low medium density residential’.

“In the last 18 months, we are seeing Brisbane-based development groups focussing on the inner-city sites and looking to build boutique premium projects in response to market demand, Colliers International executive Adam Rubie said.

Amersham, designed by local architecture firm Arkhefield, is the second residential development by Di Marco Group and TG, following the $3.85 million acquisition of a 486sq m site at 466 Ann Street last year.

The Ann Street development will be the first boutique residential project to be built in Brisbane's CBD in almost two decades. The building will comprise 19 single-floor apartments.

The ever evolving suburb of West End, from an inner-city industrial area to a vibrant mixed-use lifestyle precinct, has continued to interest developers and investors aiming to build on a fringe CBD suburb well-po-

sitioned for future growth. Sydney-based Crown Group recently received approval for its $350 million Fjmt-designed residential development which will see the addition of 400 apartments to the river front site at 117 Victoria Street.

Major development projects in West End also include Japanese developer Sekisui’s $800 million mixeduse precinct West Village project, and Pradella’s Light & Co project as part of its broader $1 billion investment in West End.

Developer R&F Property lodged a development application for stage one of its $500 million project, revised to 12-storeys, toward the close of last year. The amalgamated 1.6 hectare site straddles Donkin and Hoskings streets.

AUCTION & EOI SCHEDULE

48

Your list of upcoming Auction and Expression of Interest (EOI) closing dates for all major Queensland properties.

Click on the link to view the listing.

499 Sandgate Road

Ascot

EOI

Fri 30.08.19 @4pm

Ray White Comm.

View

2 Hart Street

Ashmore

EOI

Thu 22.08.19 @4pm

Avanti Comm.

View

Lot 206 Rifle Range Road

Bargara

Auction (Off-Site)

Fri 06.09.19 @4pm

Ray White SP.

View

913 Bokarina Beach

Bokarina

For Sale

Contact Agent

Colliers Intl.

View

Lot 907 Bokarina Beach

Bokarina

EOI

Thu 19.09.19 @4pm

Colliers Intl.

View

160 South Coolum Road

Coolum Beach

Offers To Purchase Wed 28.08.19 @4pm

Savills

View

8-14 Joyner Circuit

North Lakes

Offers To Purchase Wed 21.08.19 @4pm

Savills

View

36 Child Street

Riverview

Auction (Off-Site)

Fri 23.08.19 @10:30am

Ray White SP.

View

25-29 Railway Ave & 526 Gympie Rd

Strathpine

EOI

Thu 12.09.19 @4pm

Ray White SP.

View

23 & 25 Sidoni Street

Tewantin

Private Sale

$1,950,000 +GST (if applicable)

Ray White Comm.

View

84 Newman Road

Wavell Heights

For Sale

Offers over $699,000

Mane Property

View

THE PROPERT Y DE VELOPMENT RE VIE W

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QUEENSL AND LISTINGS

50

Accelerating success Reach more people – better results faster.

SUNSHINE COAST CHILDCARE DEVELOPMENT SITE IN HIGH GROWTH AREA

FOR SALE Lot 913 Bokarina Beach, Bokarina, QLD, 4575

View Now

– Land area 1,604sqm* – Childcare Zoning – Maximum 76 places – 3 storey height limit

Lot 913 Bokarina Beach offers an outstanding opportunity to deliver a Childcare Centre with occupancy underpinned by an expanding resident and workforce population. Interested parties are encouraged to contact the exclusive marketing agents below.

Baydn Dodds 0418 173 187

– Surrounded by walkable amenity including Lake, Park & Beach – Fully serviced level site – Reduced Infrastructure Charges *approximately

Nick Dowling 0419 726 705

colliers.com.au

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Accelerating success Reach more people – better results faster.

FINAL BOKARINA BEACH OCEANFRONT RESIDENTIAL DEVELOPMENT SITE

EXPRESSIONS OF INTEREST Lot 907, Bokarina Beach, Bokarina, QLD, 4575 Closing Thursday 19th September 2019 at 4.00pm.

View Now

– Land area 3,214sqm* – Multiple Dwelling Zoning – Allocated yield of 75 units (potential higher/lower subject to scheme) – 6 storey height limit – Fully serviced level site – Reduced Infrastructure Charges

Bokarina Beach Lot 907 represents an outstanding opportunity to deliver a boutique residential apartment project to meet the current demand from the owner occupier downsizer and retiree market.

Baydn Dodds 0418 173 187

– Surrounded by walkable amenity including lake, park & beach

Nick Dowling 0419 726 705

colliers.com.au

QUEENSL AND LISTINGS

52

For Sale: 160 South Coolum Road, Coolum Beach, QLD 4573 43HA Development Opportunity

160 South Coolum Road is located in Coolum Beach some 120km North of Brisbane CBD within the fastgrowing region of the Sunshine Coast. More specifically the subject property comprises a significant land holding located on the western side of South Coolum Road boasting a significant frontage. The site is generally flat with some areas of gentle undulation.

– Significant 433,802sq m landholding within the fast growing Sunshine Coast Region – Three (3) freehold titles, offered in one line – Significant public and private spending in the region to support strong growth

For Sale with a Closing Date for Offers 4pm Wednesday 28th August Will Carman 0477 666 355

Mark Dann 0408 778 756

Robert Dunne 0418 888 840

More Exposure More Competition Record Prices

– The topography is mostly flat with areas of gentle undulation – Included in the SEQ Urban Footprint and is the perfect location for future development

VIEW LISTING

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For Sale: 8-14 Joyner Circuit, North Lakes, QLD 4509 1.46HA Development Site For Sale In North Lakes

14 Joyner Circuit is currently vacant and comprises an irregular shaped 14,620sqm parcel. It boasts 395m frontage to Joyner Circuit on the northern, western and southern boundaries. The property adjoins a child care centre along the eastern boundary. The land is on a similar grade with Joyner Circuit. The site slopes gently from the south eastern corner towards the north western corner, the elevation allows direct north views.

– Significant 14,620sq m land holding within the fast growing North Lakes master planned community – Approved for 7,900sqm of gross floor area over 4 (four) buildings

For Sale with a Closing Date for Offers 4pm Wednesday 21st August Robert Dunne 0418 888 840

Will Carman 0477 666 355

More Exposure More Competition Record Prices

– Town Centre Frame zoning allowing up to 5 levels – The site slopes gently from the south eastern corner towards the north western corner, the elevation allows direct north views

VIEW LISTING

QUEENSL AND LISTINGS

54

ONE OF THE LAST REMAINING PARCELS OF LAND WITHIN TEWANTIN TOWN CENTRE Tewantin, Qld 23 & 25 Sidoni Street

PRIVATE SALE

$1,950,000 + GST (if applicable) • 2,006sq m (approx) over 2 separate lots • Business Centre Zoning allowing for a wide range of uses on the site • Adjacent to the Tewantin Business Centre which includes a Woolworths anchored shopping complex and a range of commercial, medical and retail operators along with Noosa Council Chambers • Dual frontage to Sidoni and Blakesley Streets

Louisa Blennerhassett 0447 904 552 louisa.blennerhassett@raywhite.com

View Listing

raywhitecommercial.com.au

David Brinkley 0448 594 361 david.brinkley@raywhite.com

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A MYRIAD OF OPTIONS ON 1128M2 OF ASCOT LAND! Ascot, QLD, 499 Sandgate Road

EXPRESSION OF INTEREST Closing Friday 30th of August at 4:00pm

• 1128m2 of land, 21m frontage, 50m block depth • 4 bedroom house at the rear of the land accompanied by a freestanding commercial building at the front • Continue operating as professional rooms or offices • Enjoy rental yield from existing property • LMR 2 or 3 storey mix under Brisbane City Plan 2014 • Potential to build 4-6 town homes (STCA) • Approximately 6km to the Brisbane CBD

View Listing

Tom Lyne 0423 696 862 Hamish Bowman 0410 044 463

raywhitecommercial.com.au

QLD COASTAL RESIDENTIAL DEVELOPMENT SITE Bargara, Lot 206 Rifle Range Road

Outline and Locations Indicative Only

AUCTION

Outline Indicative Only

Mark Creevey 0408 992 222 mark.creevey@raywhite.com

Fri 6 Sep 2019 4om Level 26, 111 Eagle Street, Brisbane Qld 4000 • • • •

Land area 5.93* hectares 5km* from Bargara Golf Club and commercial precinct 3.8km* to Kellys Beach Designated Low Density Residential

• Near to future $3.8M* Hughes Road extension providing direct access to commercial precinct of Bargara • Directly adjoining Palm Lakes Bargara lifestyle resort

Tony Williams 0411 822 544 tony.williams@raywhite.com

*Approx

View Listing

raywhitespecialprojects.com

QUEENSL AND LISTINGS

56

MORTGAGEE SALE - 40.78HA* DEVELOPMENT SITE

NEXT TO A RAILWAY STATION & MAJOR SHOPPING CENTRE

AUCTION

EXPRESSIONS OF INTEREST

Riverview, 36 Child Street

Fri 23 Aug 2019 10:30am Level 26, 111 Eagle Street, Brisbane Qld 4000 • Zoned Park Residential Low Density - suit land subdivision or townhouse • Current application in Council to expand residential zoning to 20.53ha* in total (^STCA) • 30km* south-west of the Brisbane CBD, 10km* east of the Ipswich CBD and 3km* west of Redbank Plaza Shopping Centre

Strathpine, 25-29 Railway Avenue and 526 Gympie Road

Dax Roep 0412 230 354 dax.roep@raywhite.com Matthew Fritzsche 0410 435 891 matthew.f@raywhite.com *Approx . ^Subject to Council Approval

raywhitespecialprojects.com

Closing Thur 12 Sep 2019 4pm Available Individually or In-One-Line

• 3,131m²* development on 6 existing titles • Strong holding income • Flexible zoning allows for multiple uses e.g. multi-storey res, retail, commercial • Surrounded by business amenities and shops • 20km* north of Brisbane & 5km* from Petrie University site

Andrew Burke 0417 606 128 andrew.burke@raywhite.com Matthew Fritzsche 0410 435 891 matthew.f@raywhite.com

*Approx .

raywhitespecialprojects.com

FOR SALE: 8 4 NE WMAN ROAD, WAVELL HEIG HTS , QLD, 4 012 6 47M 2 DA APPROVED DE VELOPMENT SITE – DA approved – 647m2 development site 8km north of the Brisbane CBD – Situated close to various educational facilities and child care / early learning centres.

– Minutes to Westfield Chermside retail, dining and café district

VIEW LISTING

Jeremiah Chung 0402 174 476

Angela Rundle 07 3063 8035

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ASHMORE ROAD DEVELOPMENT SITE 2 HART STREET, ASHMORE QLD 4214

APPROVED – RESIDENTIAL CARE DEVELOPMENT SITE ON ASHMORE ROAD Located within the central Gold Coast suburb Ashmore, this property is close to public transport, retail shops, restaurants, cafes, and healthcare facilities.

• Total GFA of 12,780 sqm*, 77 dwellings, 127 bedrooms over 4 levels • Alternative Residential approval of 84 apartments (Total 163 bedrooms) • Land area of 7,237 sqm, with 3 street frontages • 5.1 km to Gold Coast University Hospital

EXPRESSIONS OF INTEREST CLOSING 22ND AUGUST 2019 AT 4PM. EARLY OFFERS WELCOME

LACHLAN HARRIS 0409 057 733

• 2.2 km to Royal Pines Resort and Golf Club • 8 km to Surfers Paradise / Beach • Easy access to M1 Motorway

PHIL SMITH (AGED CARE CONFIDENTIAL) 0467 873 196

VIEW LISTING

STATE SPOTLIGHT

58

STATE SPOTLIGHT: SOUTH AUSTRALIA

Suburb Report: Plympton

South Australia Auction Schedule

Singapore REIT Expands Aus Footprint

South Australia Listings

Content by: Jack M. Gaffney

THE PROPERT Y DE VELOPMENT RE VIE W

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Suburb Report: Plympton Sitting halfway between Adelaide’s lively CBD and one of its most beloved beaches, Glenelg, Plympton residents enjoy and appreciate the best of both. The location is understandably a major attraction, but its only recently that people have started to really take note. Lifestyle amenities are in abundance, blocks are large and have potential for subdivision, a predominantly aging generation is looking to downsize – the secret’s out and the spotlight is shining down.

RESIDENTS Population has been steadily increasing; from 4,509 in 2011, to 4,756 in 2016, to 4,932 (estimated) in 2018. The accessibility and undervalued blocks have filled Plympton with a mix of age groups, from aging retirees to emerging families and young professionals.

Looking at 2011 and 2016 Census data it’s evident to see the rise in the number of semi-detached / town homes from 167 to 465. With the number of detached homes largely remaining the same, a fair portion of land for town home growth has come from older apartment sites, which saw a decline of 36%. Whether this is simply a re-definition or not, the fact remains that opportunities for medium-density growth are viable.

→ Parkview on Pleasant Avenue.

Image: Greaton

CULTURE The flexibility of lifestyle offered by its positioning seems to be the aspect most talked about by residents. While this ease of ‘coming and going to your heart’s desire’ is certainly an advantage, the suburb offers plenty of appeal within its domain.

A multitude of schooling options at all levels, are dotted within walking distance, as too are multiple cafés and retail shops; the neighbourly and community feels are real.

The only downside that residents seem to note is that there’s only one pub – but it’s a good one, they say.

PRICE HOUSES: Median house prices in Plympton have enjoyed a steady upwards trajectory since 2012 when the median price was $400,000. As of 29 July 2019, the median house price is $552,900. Residents are quick to point out how often ‘overlooked’ Plympton is, which is perhaps the reason for its apparent affordability. Weekly median advertised rent is $390.

UNITS: The median unit price as of 29 July 2019 is $280,000. Accounting for 25% of total dwelling structures it seems that there

is opportunity to further explore quality, affordable apartments for individual and small families looking to capitalise on the location.

Weekly median advertised rent is $280.

SIGNIFICANT PROJECTS PARKVIEW ON PLEASANT AVENUE: Located on the north end of South Plympton this master-planned development consists of 40 townhomes and 20 apartments. The development firm Greaton are leading the project with other notable projects in their portfolio including; Adelaide’s GPO, Sydney’s The Ribbon and Oxford Central in Epping. Studio Nine Architects are behind the designs.

26 CHARLES STREET: Currently under construction, The Riviera Group are bringing four new two-storey, luxury townhouses to the neighbourhood. The designs comprise or three-bedrooms, three bathrooms, a large open plan kitchen, dining and living area with separate laundry.

STATE NE WS

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SINGAPORE REIT EXPANDS AUS FOOTPRINT Content Supplied by:

Singaporean company ARA Asset Management has purchased Adelaide’s Allianz Centre for $148.3 million, signalling an increase in institutions are looking to place funds in the South Australian capital.

The building, at 55 Currie Street, is in the heart of the city’s western core precinct. It last changed hands for $81 million in 2011 when it was picked up by private syndicate Arc Equity Partners.

The office tower has since been upgraded including the installation of solar panels and end-of-trip facilities along with the upgrading of the central atrium, lift lobbies and toilets.

ARA Trust Management chief executive Chong Kee Hiong said the initial net property income yield of 8.0 per cent was underpinned by “a strong cashflow of high quality office tenants.”

The 12-storey Adelaide tower, which offers net leasable area of 26,200 square metres, sold 91.6 per cent leased, with the Commonwealth and State governments, insurer Allianz and software group Data Action the main tenants.

The building has a light-filled central atrium, 1,000sq m rooftop deck and 5,578sq m land holding fronting both Currie Street and Topham Mall.

The removal of stamp duty in South Australia in July last year has been pivotal to attracting renewed interest in Adelaide's commercial property, making the state more competitive.

Stamp duty on non-residential and non-primary-production real property transfers, previously levied at up to 5.5 per cent, no longer applies.

“We are pleased to expand our footprint in Australia with the acquisition of 55 Currie Street, a Grade A office building situated in the heart of Adelaide’s central business district,” Chong said.

JLL’s Jamie Guerra and Roger Klem and Colliers International’s Paul van Reesema, Alistair Mackie and Craig Shute, brokered the sale.

ARA, which has more than 1,300 staff in 21 cities in eight countries to manage its $40 billion property empire, runs a series of listed and unlisted trusts that invest locally.

ARA has been active on Australian shores last year purchasing a 20 per cent stake in listed Cromwell Property Group for about $405 million.

It already has a presence in direct markets, including a 50 per cent stakes in Melbourne’s $600m Southgate complex and Mirvac's 477 Collins Street development as well as 177 Pacific Highway, an A-grade office building in North Sydney.

Adelaide's vacancy rate which currently sits at 14.2 per cent, is tipped to tighten over the second half of the year with positive demand in the commercial office space is driving higher numbers of transactions.

↓ Image: The Urban Developer

AUCTION & EOI SCHEDULE

61

Your list of upcoming Auction and Expression of Interest (EOI) closing dates for all major South Australian properties.

Click on the link to view the listing.

234 Currie Street

Adelaide

EOI

Contact Agent

Colliers Intl.

View

34-38 Wright Court

Adelaide

EOI

Wed 21.08.19 @4pm

JLL

View

162 Grote Street

Adelaide

For Sale

Contact Agent

Knight Frank

View

22-28 Anzac Highway

Everard Park

For Sale

Contact Agent

CBRE

View

1390-1400 Golden Grove Road

Golden Grove

For Sale

Contact Agent

Knight Frank

View

Lot 2 Douglas Drive

Munno Para

For Sale

Asking $220/sqm plus GST

JLL

View

196 Anzac Highway

Plympton

For Sale

Contact Agent

JLL

View

Lots 14,15,16 & 17 Research Road

Pooraka

For Sale

Contact Agent

Knight Frank

View

227 Prospect Road

Prospect

EOI

Thu 12.09.19 @4pm

Colliers Intl.

View

56 Main North Road

Prospect

For Sale

$495,000 + GST

JLL

View

Swanport Village Road

Swanport

For Sale

Contact Agent

Knight Frank

View

SOU TH AUSTR ALIA LISTINGS

62

High profi le development site For Sale 196 Anzac Highway, Plympton SA

– Large corner site of an estimated 2,096sqm* – development ready – Great location between the Adelaide CBD and popular beachside suburbs – Urban Corridor zoning allowing for high-density residential development

*Approx. **DPTI Traffic Volume Estimates

Tom Bailey Jed Harley

0407 607 266 0418 807 920

property.jll.com.au/303065

VIEW LISTING

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Affordable Mixed Use Development Site For Sale Lot 2 Douglas Drive, Munno Para, SA, 5115 – 3,300 sqm* mixed use site with 30 metre* frontage to Douglas Drive – Situated in the award winning Playford Alive development – Surrounded by major national tenants and education providers – Flexible zoning to suit a variety of uses (stnc) including childcare and community uses

Tom Bailey Roger Klem Jed Harley

0407 607 266 0423 919 373 0418 807 920

VIEW LISTING

SOU TH AUSTR ALIA LISTINGS

64

Opportunity in Chinatown

For Sale 34-38 Wright Court & 33 Field Street, Adelaide SA

– Land holding of 854sqm* – Frontage to Wright Court of 20m* – Holding income until Dec 2020 – Zoned Capital City - 53m height limit – Land bank, reposition or redevelop *(approx)

Tom Bailey 0407 607 266 Jed Harley 0418 807 920 Boundary Indicative

property.jll.com.au/303035 RLA 1842

Main North Road development site For Sale 56 Main North Rd, Prospect SA – Outbound corner site of 480sqm* – Urban Corridor Zoning - up to 4 levels – Over 25m* frontage to Main North Rd – Situated less than 4km from the CBD – 53,000* passing vehicles per day** *(Approx. **DPTI Traffic Volume Estimates)

Tom Bailey 0407 607 266 Jed Harley 0418 807 920 Boundary Indicative

property.jll.com.au/302344 RLA 1842

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Connecting people & property, perfectly.

162 Grote Street, Adelaide SA.

Lots 14, 15, 16 & 17 Research Road, Pooraka SA.

For Sale

For Sale

1,786 sqm* site

53 metre* height limitation

Offered with attractive passing income

4 Titles. Can be sold as 2 lots

Zoned ‘Industry’

Garry Partington 0418 845 973

Tony Ricketts 0418 827 911

View Listing View at knightfrank.com.au /1234567

11,064 sqm* site area

RLA 199257

View Listing

RLA 199257

Swanport Village Road, Swanport SA.

1390-1400 Golden Grove Road, Golden Grove SA.

For Sale

For Sale

2 parcels, 50 hectares* total area

Direct access to Princes Highway

Zoned ‘Rural Living’, subdivide to min.

2,500 sqm* lots

Warehouses of 750 & 350 sqm*

Resi & mixed use development plans available

Garry Partington 0418 845 973

Tony Ricketts 0418 827 911 View Listing

5,109 sqm* site area

RLA 199257

View Listing

RLA 199257 *Approx

SOU TH AUSTR ALIA LISTINGS

66

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FOR SALE

PREMIUM LOCATION WITH FANTASTIC AMENITY DEVELOPMENT READY SITE + Enviable location 2kms* from the Adelaide CBD + Offered as a total site of 3,515sqm* encompassing four Certificates of Title + Recently rezoned Urban Corridor - Transit Living (Anzac Highway) in the City of Unley allowing up to six storeys of development + Fully cleared & serviced connections provided + Current approvals for apartment development available

FOR SALE - CONTACT AGENTS HARRY EINARSON 0421 747 442 MITCH CURNOW 0415 494 056

VIEW LISTING

property.cbre.com.au *approx

STATE SPOTLIGHT

68

STATE SPOTLIGHT: WESTERN AUSTRALIA

Suburb Report: Subiaco

Western Australia Auction Schedule

Office Market Returns to Positive Territory

Western Australia Listings

Content by: Jack M. Gaffney

THE PROPERT Y DE VELOPMENT RE VIE W

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Suburb Report: Subiaco Subiaco is a highly enticing, inner city suburb around three kilometres west of Perth’s CBD. Sitting on the higher end of the real estate market, one only needs a quick walk around the area to ascertain why. The mix of trendy bars, fine dining experiences, shows at The Regal Theatre and ample cafés make socialising and getting out-and-about a breeze.

The city is nearby and there are direct lines to the coast, in addition neighbouring Kings Park and nearby Swan River offer a world of outdoor daytime pleasures. People come, people stay and they’re happy to pay a premium for it.

While the area may be renowned for its professional elite, its proximity to the University of Western Australia also attracts student residents.

UNITS: As of 29 July 2019, the median unit price is $460,000. Despite the area’s renowned high-density, there still remains more detached and semi-detached homes than apartments; opportunity lies in spacious CULTURE units for downsizers and small families looking to more affordably enter the area. WeekThe heritage homes, leafy side-streets and ly median advertised rent is $400. some of the state’s elite schooling options, give Subiaco an air of affluence that many SIGNIFICANT PROJECTS are striving to be a part of.

But aside from just being a lovely part of BOTANICAL: A luxury, mid-rise residential Perth, the suburb truly offers residents plen- development project by Edge Visionary Livty of options to stay up-and-about. There’s ing with designs by Hillam Architects. The easy access to the city for work or pleasure, six-storey building presents 74 individual resRESIDENTS a direct 15-ish minute journey to Cottesloe idences with a rooftop.

Beach, Subiaco Stadium to catch the West There is a café and social area on the Between the 2011 and 2016 Censuses Sub- Coast Eagles, Kings Park and Botanic Garden, ground floor, but the mantra follows that “if iaco’s population grew by 14.8% to reach connections south via the Mitchell Freeway, it’s not on your doorstep, it’s on the roof”.

9,202. The current estimated population is and an abundance of hospitality options from Rooftop amenities include a 25-metre infini11,056 and is expected grow by a further dawn until late night. ty edge pool, gymnasium, sauna and steam 33.3% by the year 2036. room, dining and entertainment facilities and

The number of detached homes over PRICE an outdoor cinema. the years has been falling as room is made for town houses and apartments to meet HOUSES: As of 29 July 2019, the median demand. With this, beautiful Victorian and house price in Subiaco was $1.225 million.

Edwardian style homes intermingle with The past five years has seen the residential contemporary designs – but you won’t find market hit a low in May 2017 of $1.14 million, McMansions here. The residents of Subiaco enjoying a reasonably steady return since; intend to prefer generously sized but elegantly terestingly converse to much of the activity designed homes – and they aren’t too wor- on Australia’s east coast. Weekly median adried about the bill. vertised rent is $650.

→ Botanical.

Image: Edge Visionary Living

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PERTH OFFICE MARKET RETURNS TO POSITIVE TERRITORY Content Supplied by:

Perth’s commercial property market has returned to a more stable footing in 2019 following the end of the resources boom, with rents growing for the first time since 2013 amid consecutive vacancy declines over the past two years.

After peaking at 22.5 per cent in January 2017, vacancy has fallen consecutively over the past two years with sentiment improving and business confidence on the rise.

Perth's economy and office leasing demand, driven off the back of activity in the oil and gas sectors, as well as iron ore, is now seeing the emergence of a wide range of industries looking for space in the CBD.

New research by CBRE has unveiled prime face rents in Perth’s CBD office market lifted 1.1 per cent during the second quarter of 2019.

Prime incentives have also trended down since the third quarter of 2018 – contributing to 10.2 per cent net effective rental growth over the past 12 months.

“At the beginning of the year we anticipated that in 2019 Perth would lead the nation in terms of prime CBD net effective rental growth,” CBRE head of research Bradley Speers said.

“That scenario is indeed playing out and we expect the market will record net effective rental growth of around 15 per cent this year.”

A-grade areas of Perth’s CBD office market are now showing the strongest signs of recovery with the market expected to record a net effective rental growth of around 15 per cent this year.

Limited supply seems to be a key driver with many tenants entering the market seeking space between 6,000 square metres and 10,000 square metres across large floor plates.

“Over the past 18 months, there has been a notable shift in sentiment, with a significant upturn in the number of both expanding and new tenants in the Perth CBD,” CBRE head of Perth office leasing Andrew Denny said.

“Specifically, the premium and A-grade parts of the market are the standout performers, with face rents increasing across seven buildings – mainly A-grade – over the past eight months.”

Perth's premium grade office stock has seen positive absorption over the past 12 months with the Pre-

mium building vacancy reducing significantly, largely offsetting the growth in prime stock levels.

Diversification in the CBD, now home to student accommodation, cinemas, and major new retail, office and lifestyle hubs, has also increased vibrancy and bolstered the city's office markets resurgence.

“We expect the July 2019 CBD vacancy rate to be below 18 per cent, with continuing steady, but modest, falls in vacancy moving forward,” Denny said.

Looking ahead, Denny said while upward momentum would continue to build in the market, growth would be relative to the current cycle. “The market is headed in a positive direction, albeit, we are not anticipating large, quick changes.”

“Although the latest figures reflect high effective rental growth changes over the next three years – the strongest nationally - the base was very low to start with.”

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AUCTION & EOI SCHEDULE

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Your list of upcoming Auction and Expression of Interest (EOI) closing dates for all major Western Australian properties.

Click on the link to view the listing.

68-90 Bickley Road

Beckenham

Offers to Purchase

Contact Agent

LJ Hooker Comm.

View

239 Great Eastern Highway

Belmont

Offers Invited

Contact Agent

LJ Hooker Comm.

View

11 Markham Place

Bentley

Online Auction

Contact Agent

Peard Real Estate

View

75 Stirling Highway

Nedlands

Offers Invited

Contact Agent

LJ Hooker Comm.

View

282-284 West Coast Highway

Scarborough

EOI

Wed 18.09.19 @5pm

Abel Projects

View

2802 Barragoon Road

Wilbinga

For Sale

Contact Agent

JLL

View

WESTERN AUSTR ALIA LISTINGS

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2 ,103HA*

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1.9 KM MOORE RIVER FRONTAGE*

5.7 KM OCEAN FRONTAGE*

Unprecedented Opportunity 100% interest in five freehold land titles Barragoon Rd, Moore River South WA – Breathtaking 5.7km* of pristine ocean frontage plus tranquil Moore River frontage of 1.9km* – 2,103ha* site with a subdivision approval for 1,953 lots including residential, industrial, tourism, community, infrastructure and public open spaces – Solar farm, water and waste water approvals *Approx

For sale by Offers to Purchase Sean Flynn Nigel Freshwater

+61 412 779 987 +61 417 197 375

property.jll.com.au/302560

Boundary Indicative

Perth 08 9322 5111

WESTERN AUSTR ALIA LISTINGS

FOR SALE: Expressions of Interest

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282-284 West Coast Highway, Scarborough, WA 6019

FIRST TIME OFFERED AS A DEVELOPMENT SITE • Total of 4,863sqm available for purchase • Potential to house between 80-100 executive apartments • 2 street frontages facing both West Coast Highway and Hastings Street • Extensive concept designs have been created which showcase a minimum of 80 apartments ranging from 1 to 3 bedrooms

Expression of interest closing 18th September 2019 at 5PM unless sold prior

To receive a detailed information compendium, please contact Steve Jones — 0435 407 837

VIEW LISTING

THE PROPERT Y DE VELOPMENT RE VIE W

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11 Markham Place, Bentley, WA 6102 For sale by Openn Negotiation — A flexible terms online auction • 837m2 property just months away from being rezoned R80 • Potential for Future High Density for up to 12 Apartments (STCA) • Completely flat block with 15.29m frontage • Underground power is already in-situ LAUREN HURLEY 0423 583 152

RAYNA PETERSEN 0417 973 436

VIEW LISTING

OPINION PIECE

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IS PROPERTY THE MISSING PIECE TO THE FLYING CAR PUZZLE? Content Supplied by:

As news broke that Melbourne was selected as Uber’s first international flying taxi test city, Victorian treasurer Tim Pallas declared that the “future of transport” had arrived.

And Clem Newton-Brown agrees. The director of Skyportz – a start-up aimed at establishing landing infrastructure for VTOLs (vertical take-off and landing aircraft) – Newton-Brown played a supporting role in Melbourne’s bid.

The former deputy lord mayor and member of parliament is working with property developers, government regulators and global consultancy Arup to establish a network of “Skyportz” around the country.

As one of the key figures behind the urban air mobility revolution in Australia, Newton-Brown will be joining us at Urbanity ’19.

In the lead up to Urbanity, we spoke with Newton-Brown about Melbourne’s win, the urban air mobility market and how to convert any flying car skeptic.

You can catch Clem Newton-Brown, and a host of other speakers at Urbanity, 23-24 October 2019.

The Urban Developer: We last spoke after Melbourne was announced as Uber’s first international test city, why do you think Melbourne’s bid was successful?

Clem Newton-Brown: Uber Air had the choice of any city in the world to launch as its first international test city. We were up against a shortlist of Mumbai, Paris, Sao Paolo, Tokyo and Sydney (sorry Sydney!)

In the end I think it was probably a range of factors that caused them to choose Melbourne:

1. the enthusiasm and support offered by the Victorian state government to remove regulatory barriers;

2. the fact that Melbourne has the only central city helipad in Australia which can be used for initial flights prior to the network of Skyportz being established;

3. the support of CASA which has already facilitated drone deliveries for Google’s Wing project in Canberra.

TUD: You were in Washington D.C. for Uber’s Elevate Summit, what were the highlights?

CNB: It was awesome to be invited by Uber to attend the summit after we had met their team while they were scoping out Melbourne.

The two-day summit spanned a range of issues and meeting some of the very clever people who are developing prototype aircraft was a highlight. Coming from a legal, political and property background it was a real eye opener to enter the world of cutting-edge technology experts.

When they announced Melbourne as the first international test city, I know how Sydney siders must have felt when they got the Olympics!

TUD: Your company, Skyportz, has partnered with Microflite Helicopters to utilise existing helicopter infrastructure for eVTOLS. Outside of Uber, what is your timeline for the introduction of passenger eVTOLS in Australia?

CNB: Skyportz is focused on providing a network of landing sites over the next five years so that when we have eVTOLs certified to fly commercially they will have somewhere to land.

We are collaborating with Microflite which owns the lease on the only central city helipad in Australia.

Microflite will likely end up being involved in operations of these new aircraft as eVTOLs become more efficient than helicopters for some flights.

We will not be producing our own aircraft but we will make our network available for Uber Air and other eVTOL operators. I would anticipate that over the next few years Uber Air will be testing a range of aircraft using existing airports and helipads.

Within 5 years I would expect commercial operations to commence.

TUD: The air mobility market is very competitive, what other players in this space should we keep an eye on?

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CNB: There are literally dozens of companies in this race to build a commercially certified eVTOL. From major aviation players such as Bell, Airbus and Boeing right down to small tech startups.

You can check out the full list of prototypes and their stage of development at Transport Up.

A quick look through this list will convert any sceptic who thinks air taxis are just a fantasy.

TUD: How can architects and developers future-proof their buildings for eVTOLs? CNB: You have to remember that while Uber Air will be providing a seamless booking service which will turn this potential into a real aerial ride sharing service, they will not be producing aircraft or managing Skyportz.

Uber will initially be building major transport hubs in locations that their data says will be in demand, but there will be opportunities for individual building owners to become part of the aerial network by signing up to Skyportz in the early stages.

TUD: Where do you see opportunity for investment in the air mobility market?

CNB: You would be crazy not to incorporate both drone delivery and eVTOL landing infrastructure into any new build.

You won’t get a permit to use it just yet but simply the fact that you have a Skyportz in your development will provide an added attraction to tenants and investors.

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Skyportz is working with Arup as partners who have already designed several Skyportz around the world.

For existing buildings I would recommend simply registering an interest with Skyportz so that you will be in the loop as things progress.

It may be that a large investor will build and own Skyportz and individual building owners will simply offer a long term commercial lease.

For building owners there is nothing to lose – rooftop space which currently produces no income could become very valuable in the future.

TUD: What’s next for Skyportz?

CNB: We are locking in some really key sites in Melbourne at the moment and we are also taking expressions of interest from building owners in other capital cities (as well as regional tourism destinations).

We will be providing a “set and forget” service for building owners to register and leave it to us to ensure that their buildings are in the mix when the urban aerial mobility revolution arrives.

Uber Air and other VTOL operators are not interested in scoping individual buildings, but for anyone in the Skyportz network we will provide the critical mass to get a seat at the table when the flying taxi services commence.

CREDITS

EDITOR IN CHIEF:

Nick Materia (Development Ready) EDITOR:

Jack M. Gaffney (jack-gaffney.com) CONTRIBUTORS:

Adam Di Marco (The Urban Developer) DESIGN / CREATIVE DIRECTION:

Cam Norris (camnorris.xyz)

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