September / October Edition | The Property Development Ready

BY DE VELOPMENT RE ADY IN PARTNERSHIP WITH THE URBAN DE VELOPER I N S I D E : S C O T T H U T C H I N S O N · T O P 1 0 P R O P E R T Y P R I C E G R O W T H A R E A S · N AT I O N A L D E V E L O P M E N T S I T E L I S T I N G S

ISSUE NO.6 SEPTEMBER/OCTOBER 2019

Introducing: Local Area Experts If you’re an industry expert such as Architectural, Town Planning, Building, Financial Services or Consultant, your company brand message can now exclusively appear within every property listing in your selected suburbs.

Geographically targeting a qualified audience of investors and developers while they are actively searching for their next development project is clever marketing.

Talk to us today about how Development Ready’s Local Area Experts platform can really boost your Company’s marketing program.

CONTACT Ted Lloyd Tel: 0408 276 103 ted@developmentready.com.au

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Welcome to the September issue of The Property Development Review.

The past month has seen some major transactions settled across an array of sectors, and with that, returning confidence.

In this issue, we highlight some of the most notable property sales; including Canute Investments Limited’s $140 million portfolio, the Cromwell Property Group’s $524.75 million acquisition of a Brisbane tower, and the second highest SA sale tag of the year so far.

We were joined recently by the unique Scott Hutchinson, of Hutchinson Builders. You can read an extract from his recorded interview, in which Scott discusses some of the varied successes he’s been able to achieve at Australia’s largest privately owned construction company.

On the Cover: 59 Johnston Street, Port Melbourne.

Designed by CHT Architects, Listed by CBRE Melbourne

There are local articles revealing the details behind Marquette Properties recent acquisition of a prime corner retail asset in central Brisbane; Vicinity’s plans for Australia's biggest eSports Stadium in Melbourne; hear more about the newly appointed developer for the Tallawong Station development, which will see 11,000 new homes rolled out from Tallawong to Epping across the next 10 years; and much more from around the nation.

Additionally, we’ve also included an expert opinion piece from Sam Tarascio and his tips on how to ‘build an empire’.

Plus our state by state summary of the most important development and investment sites for sale, with their upcoming auction and EOI dates; an absolute must-know for any serious developer or investor.

Enjoy the read and keep well.

Nick Materia Managing Director

01. In Conversation With: Scott Hutchinson

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02. Top 10 Property Price Growth Areas

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03. Market Moves: Around the Country

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04. State Spotlight: Victoria

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05. State Spotlight: New South Wales

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06. State Spotlight: Queensland

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07. State Spotlight: South Australia

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08. State Spotlight: Western Australia

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09. Opinion Piece: Sam Tarcasio

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IN CONVERSATION: SCOT T HU TCHINSON

IN CONVERSATION: SCOTT HUTCHINSON

Scott Hutchinson is the chairman of Hutchinson Builders, Australia’s largest privately owned construction company.

He is also the great-grandson of Jack Hutchinson, who founded the company after immigrating to Australia in 1911; it’s true to say that he was born for this role. More than just keeping the business running however, Scott has taken "Hutchies" to great heights. We sat down recently to hear more about how a conscientious attitude, focus on quality and a long-term outlook can translate into success.

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↘ Scott Hutchinson & Development Ready's Rob Langton. Press the play button to watch the interview.

Development Ready: As it was founded back in 1911, can you tell us about the origin of Hutchinson Builders?

Scott Hutchinson: My great-grandfather came to Australia in 1911, but the first building that he completed was in fact in 1912. He was already operating in his home town, Manchester in England, and shortly after the family’s arrival, his sons joined his activities.

DR: When did you get involved in the family business?

SH: When I was about 10 years old, I could see and understand what both my Father and his Father were doing. I knew early on that this was a legacy that I was going to continue.

After I finished my degree in civil engineering in 1981, I worked for three years with a structural engineer to get my registration. Following a stint abroad in Europe, where I toured around in a combi with some of my closest friends, I returned to Brisbane to finish my MBA. I entered Hutchinson Builders shortly after that.

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though was to remain adaptable, which was quite different to the approach of my grandfather and great-grandfather. He would always look at the way something was done and wonder if it could be done better. I guess it’s the idea of welcoming change, rather than fearing it.

DR: Has this philosophy stayed with the business to the current era?

SH: Definitely. I did every elective in the MBA that I could on Human Resources, and I saw a connection between those practices and our own, in terms of adaptability. It helped me view the business in a way that moved away from pyramid management styles. In this, our employees allow changes in the market to move through the business. We’re flexible, and there’s no one just trying to impress people above them for short term gain.

DR: And into what role to did you enter?

SH: Apprentice project manager, but it was sort of a working-title. I was placed under the supervision of one of the more advanced foremans of the business, and as well as that my father involved me in nearly every facet of its operations.

DR: Now the business has grown to around 1,750 employees, what do you think it takes to grow a business to that size?

SH: Hutchinson Builders doesn’t have any profit goals, turnover goals, geographic goals, so it really has just happened naturally. Our flat management structure, however, is one unique aspect that I believe is key to our success. This is something that started with my father, but I formally introduced it.

DR: Did he pass down much wisdom?

SH: Absolutely, he was fantastic to work with and it’s a little difficult to know where to start. His main lesson

DR: Do you think this approach works for everyone?

SH: There are pros and cons to it, like any structure.

You do get some difficult times, because you are

IN CONVERSATION: SCOT T HU TCHINSON

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trusting people and they make mistakes. Some don’t like it because they want to move up the ladder, and our ladders are pretty small. But you do also get a lot of passion, and employees that feel in control of their work and their working lives. Empowerment is a great motivator.

traditional languages. This is a program centralised around the training, development and placement of indigenous people into jobs, with ongoing support.

We’ve placed 350 individuals so far, with a target of 550 by 2020. The response has been incredible.

DR: You’re deeply passionate about music and cultural activities, was this a main driver behind The Fortitude Music Hall development?

SH: Before that project, we were just about to sell block in Newstead to developers, who wanted to construct apartments, when the bass player from Powderfinger and some other museos said that they wanted a music venue in place instead. I pulled the sale quickly and we set to work on building what is now The Triffid.

After that, I saw that Brisbane was in a bit of trouble, having no inner-city big music venue after Festival Hall got demolished in 2003. I knew that I had to do something. We started looking for sites and found one that had a DA for 350 units, so I had to pay for something that the music industry itself couldn’t afford. It ended up costing us about $46 million and it was valued at around $30 million. It’s not commercial but I think it’s important for the city.

DR: What do you think of the construction industry at the moment, are there any challenges?

SH: The challenge at the moment is quality. Too much was built too quickly. We worked out around five years ago that there was going to be this problem and a big thanks needs to go our Managing Director Greg Quinn.

We had quality people all over it and it (quality) is now built into our culture.

DR: Can you tell us about some of the other socially and ethically minded practices that have been brought into the business?

SH: The main initiative that comes to mind was instigated by our managing director Greg Quinn. Statim Yaga, which roughly translates to ‘start work’ in several

DR: So, are the opportunities limited currently?

SH: Not at all. It’s counter-intuitive, but builders do better when the market is coming off. Booms don’t help us at all. We’re excited for a return to quality for the industry, and we’re seeing more clients starting to look for builders with bigger balance sheets and better reputations.

I think that the future is a place for builders of merit, where the decisions that are made come from a conscientious place, and hold a long-term lens.

— This passage is an excerpt from Scott's full recorded interview. To watch the interview with Development Ready's Rob Langton, visit developmentready.com.au.

↖ Scott in his early days as site foreman.

Image: Hutchinson Builders

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EDITORIAL

TOP 10 PROPERTY PRICE GROWTH AREAS Content Supplied by:

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Australia has many rising markets charted by an increasing number of house and unit sales. Market sentiment appears to be spurred on by the Reserve Bank cutting interest rates to historic lows this year. Hotspotting founder Terry Ryder says Australia's leading growth markets are showing up in unexpected places.

The latest Price Predictor Index has found the highest number of growth suburbs in regional centres like Victoria's Bendigo and Queensland's Sunshine Coast. The index is based on two fundamentals: sales volumes as a better way to chart growth than median prices, and a sustained rise in sales volumes to be followed by a rise in prices.

← Image: The Urban Developer

ACT Canberra is the strongest real estate economy in Australia, with the nation’s highest average incomes and the lowest unemployment.

It is challenging Victoria as No.1 on population growth, it has low vacancies and it often leads on rental growth.

The BELCONNEN District is Canberra’s number one jurisdiction for suburbs with rising sales activity.

This precinct has a number of affordable suburbs, vacancies are well below 1 per cent, rental yields are solid and some suburbs have grown their median prices 6-7 per cent in the past 12 months.

QLD The BRISBANE NORTH precinct is the most active part of the Brisbane market, poised for stronger growth. This middle-ring area has 10 suburbs with rising sales demand, including Alderley, its median prices have risen 5 per cent for houses and 22 per cent for units.

Other growth suburbs include Boondall, Chermside West, Everton Park, Kedron, McDowall, Sandgate, Stafford, Stafford Heights and Wavell Heights.

These are all middle-market areas with median prices in the $600,000s and $700,000s.

The SUNSHINE COAST continues to be the strongest of the Queensland markets, both in terms of rising sales activity and price growth.

Sunshine Coast is rising while the more high-profile Gold Coast market is falling. The Sunshine Coast has

10 suburbs with rising buyer demand and another 13 have consistent sales activity. Landsborough and Little Mountain feature on our National Top 50 list.

More than 60 per cent of regional Queensland markets have median prices higher than a year ago.

Of the higher growth markets, 21 have increased by more than 10 per cent, and 10 of those 21 locations are Sunshine Coast suburbs, led by Eumundi (28 per cent), Sunshine Beach (15 per cent), Twin Waters (15 per cent) and Wurtulla (15 per cent).

SA The CHARLES STURT LGA extends north-west from central Adelaide out to the beaches and includes a range of good suburbs, including eight where sales activity is rising steadily. They include inner-city Brompton as well as middle-market suburbs like Findon, Seaton, Flinders Park, Woodville South and Fulham Gardens.

Henley Beach and West Beach also have growth momentum. Good price growth is happening in this area, including Henley Beach South (the median house price is up 15 per cent to $985,000).

The MARION LGA, a middle-market area in the southwest of Adelaide which has been a market leader for the past 18 months, is once again a standout market – indeed one that ranks nationally.

It has nine suburbs with rising sales patterns, including Ascot Park, Edwardstown, Glengowrie, Hallett Cove, Marion, O’Halloran Hill and Seacombe Gardens.

Warradale makes our National Top 50 list of rising suburbs, its median house price of $595,000 is typical of the Marion LGA’s middle-ring affordability.

EDITORIAL

The PORT ADELAIDE ENFIELD LGA emerged in 2018 as an up-and-coming market in the SA capital – and continues to be one of the busiest precincts in Adelaide.

Our latest survey reveals seven suburbs with rising activity, including Croydon Park, Dernancourt, Greenacres, North Haven, Rosewater and Royal Park. Dernancourt features in our National Top 50 list. This precinct is being boosted by major local events, including the massive program of building vessels for the Australian Navy and ongoing development around the port.

The Osborne Naval Shipyard is undergoing a $535 million upgrade to accommodate the building of 40 new Defence craft; 500 public servants are being moved here; and a new rail spur is proposed to link the Port’s commercial centre and the Dock One residential precinct to the Adelaide CBD. As we have observed many times, ONKAPARINGA always features prominently in our analysis of the Adelaide market.

It currently has seven suburbs with growth momentum – including Aldinga Beach, which features in our National Top 50 list of supercharged suburbs. Other growth markets include Christies Beach, Hackham, Happy Valley, Old Reynella and Seaford.

This LGA ticks a lot of boxes for investors: it has lifestyle, affordability, improved transport links, economic growth drivers, population growth and proximity to major jobs nodes. The completion of two pieces of key transport infrastructure - the extension of rail links to Seaford and duplication of the Southern Expressway has delivered faster access to the Adelaide CBD and made the region more accessible.

VIC BENDIGO is now the leading market in Victoria in terms of the number of suburbs with rising demand, having overtaken other strong markets like Geelong and Ballarat. It’s attracting both home buyers and investors out of Melbourne, chasing affordability and better rental yields in a growth centre.

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Many Bendigo suburbs have median prices in the $300,000s, emphasising the city’s affordability. Bendigo is rising because of its own inherent strengths – including a strong and diverse economy – and its strong links to Melbourne.

WA The JOONDALUP LGA continues to be a stand-out for its steadiness and resilience against the Perth downturn and is poised to lead the city’s market recovery.

It now has eight suburbs with rising sales momentum, which makes it number 1 in Perth and among the best of the nation’s LGAs.

The suburbs of this LGA are based around the Joondalup CBD, which is a centre for infrastructure and services for Perth’s north. Growth markets include Burns Beach, Duncraig, Edgewater, Greenwood, Joondalup, Mullaloo and Padbury, many of which offer good affordability.

The City of MELVILLE in Perth’s inner south is one of the precincts leading the market fightback in the WA capital. It has seven growth markets and seven consistent performers.

Suburbs with rising sales demand include Attadale, Bull Creek, Kardinya, Leeming, Mt Pleasant and Palmyra – some of which are million-dollar suburbs but most are middle-market areas. The star is Willagee, which makes our National Top 50 list, also shows sign of growth in the median house price at $520,000.

↙ Image: The Urban Developer

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MARKE T MOVES

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AROUND THE COUNTRY There’s been some significant commercial and industrial movement across Victoria this past month. Charter Hall have made their third recent acquisition in Dandenong South, paying $30.9 million for the industrial base of cosmetics and cleaning products company Greencare Developments.

A 6,000sqm suburban corporate office building on Dandenong Road in Clayton was picked up by a Hong Long Investor for $30 million in one of the largest suburban office transactions of the year.

Frasers Property Australia spent $27.5 million on a 43-hectare industrial site in Tarneit. The property last changed hands for $333,721 in December 2008 and was sold to Frasers after being rezoned for industrial use.

Southern Cross Education Institute has acquired a vacant commercial property, situated at 530-538 Victoria Street in North Melbourne, for $7 million. The site is zoned for educational uses and joins Southern Cross’s three other Melbourne campuses.

Private investors traded a recently developed, 2,038sqm office/showroom/warehouse facility in Bayswater, for $4.5 million. The property was sold subject to a five-year lease, returning an annual rent of $256,000.

NEW SOUTH WALES Stockland made waves, securing the remaining 50% share of Sydney’s Piccadilly Centre from Oxford Properties for $347 million. Simultaneously, Stockland sold off its half share of the nearby 135 King Street and the Glasshouse shopping centre for $340 million. The 4,800sqm Piccadilly site presents a considerable redevelopment opportunity amid Sydney’s well performing office market.

The recent ~$81 million sale of the Seasons Harbour Plaza serviced apartment hotel, at 252 Sussex Street in the CBD, marked the first transaction to be made via a NSW court-ordered strata renewal collective sale. 75% of the tower's 90 owners agreed to the sale of the 19-storey hotel, with the other 25% remaining silent.

An office strata block at 270-272 Pacific Highway in Crows Nest has been sold by Chinese-backed investor China Venture for close to $60 million. Over a period of several years, China Venture amalgamated around 45 office strata units and tried, unsuccessfully, to ac-

quire development approval for a high-rise office in its place. The Australian Financial Review indicated that if the development plans had been approved, the site could have sold for as much as $150 million.

The sale of 1-9 Buckingham Street in Surry Hills far exceeded its $20 million expectation, with a final sold price just over $33.5 million. A Chinese investor secured the four-storey office building after a hotly contested campaign involving over 440 enquiries.

A 1,393sqm site with approval for the construction of 24 apartments in Granville was been secured by local builder and developer, Cordell Constructions, for around $2.5 million.

Finally, a "hole in the wall" commercial space in Sydney’s CBD has sold for $1.57 million, presenting a near-record of $112,143 per square metre.

QUEENSLAND Previously held by US property giant Blackstone and German group HSBC Trinkaus, 400 George Street, a 35-level, A-grade Brisbane tower, settled to Cromwell Property Group for $524.75 million.

The Noosa Civic shopping centre on the Sunshine Coast was returned to its previous owner after property developer and former Olympic swim champion, Mark Stockwell, paid near $250 million for it. Mr Stockwell had sold the property to QIC in 2012 for around $200 million.

The Best Western Plus Lake Kawana Hotel on the Sunshine Coast, has traded hands from developer Triple B Motels to Gold Coast-based Centro Group of Companies for $15 million. The 81-room hotel was developed

by Bruce McDiamard and opened in 2015.

A tenanted strata office at 170 Leichhardt Street in Spring Hill transacted the biggest strata sale in Brisbane this year, after being picked up by a Sydney investor for $5 million. Current tenant, Imagine Education Australia, will stay on for seven years.

Showing signs of recovery in retail rental vacancies in the area, a three-storey, beachfront commercial property on the Sunshine Coast sold for $4.55 million to a Victorian investor. The Coolum property is leased to 10 separate tenants returning $321,000 annually.

A vacant and newly refurbished industrial facility in Brisbane’s Virginia sold to irrigation and agricultural engineering specialists, Aquamonix, for $2.7 million.

Content by: Jack M. Gaffney

VICTORIA

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SOUTH AUSTRALIA An Adelaide office tower achieved the second highest SA sale tag of 2019 so for, trading hands from Credit Suisse to Soilbuild REIT (a Singapore real estate investment trust) for $134 million. Credit Suisse bought the Grenfell Street property in 2016 for $125 million.

A newly developed United Petroleum service station, 10km north-west of Adelaide’s CBD was sold by Adelaide developer Nick Emmett for $5.25 million.

Centuria Capital Group has successfully acquired a South Australian industrial property for an undisclosed amount. This is the second recent acquisition in the state for Centuria, following the office acquisition in Adelaide’s CBD. The Edinburgh facility was sold with a leaseback and comprises a state-of-the-art office and warehouse built 2013.

WESTERN AUSTRALIA iProsperity Group (iPG) recently settled one of the most anticipated hotels deals in Australia, with the absorbing of AccorInvest's 23-hotel portfolio for $300 million. The portfolio comprises of predominantly freehold, economy-style hotels and offers more than 3,000 rooms nationally. Spread across Australia’s major capital cities and regional areas, the list include notable hotels such as the 239-room Mercure Perth, the 412-room dual ibis Brisbane and Mercure Brisbane CBD hotels, the 296room Novotel Brisbane, the 250-room ibis Melbourne Hotel and the 200-room ibis Sydney Airport.

AccorInvest remains the most dominant hotel operator in Australia after acquiring its biggest rival, Mantra Group, for $1.2 billion earlier this year.

Three adjoining commercially zoned development lots totalling 5,666sqm, situated at 705-707 Murray Street in West Perth, have sold for a little over $12.3 million.

A 986sqm property, at 378-380 William Street in Perth, with the potential to accommodate apartments or a mixed-use development has sold for $4.23 million.

The property is located just one block from the Northbridge entertainment area, the property was sold to a Perth-based investor with a retained lease.

A strata office in the Spectrum building in Subiaco returned $4 million from local investor Hawketail Enterprises. The property retains its current lease to NKH Knight, which expires in 2024.

↑ 400 George Street, Brisbane, QLD. Image: Trends Ideas

STATE SPOTLIGHT

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STATE SPOTLIGHT: VICTORIA

Suburb Report: Greensborough

Victorian Auction Schedule

Australia's Biggest eSports Stadium

Victorian Listings

Uptrend in VIC Transactions

Content by: Jack M. Gaffney

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Suburb Report: Greensborough Greensborough is a north-eastern suburb of Melbourne, highly prized for its location and space. Both the size of the blocks, and the homes planted on them, are notably capacious, with ‘families’ comprising the primary occupants for a long time. This multi-person-dwelling era is, however, evolving. Good quality amenities, increased infrastructure and the comfortable proximity to both the CBD and countryside, has seen a multitude of young working professionals starting to begin their sentences with “I’d love to live in Greensborough”.

CULTURE

Situated approximately 23km north-east of Melbourne’s CBD, Greensborough offers a landscape ideal for raising families. Living up to its namesake, the neighbourhood is a leafy thoroughfare with multiple parks nearby and hills that continue to roll away from the city.

The family friendly nature however is not to overshadow its emerging transformation.

The Government’s North-East Link project will drastically improve CBD connections, and coupled with the multiple public transport options practically brings the city to the RESIDENTS doorstep. A fervent professional workforce is set to enter the area, with new lifestyle and The 2019 estimated residential population cultural demands. of Greensborough is 22,205. The area saw Those looking for a retail fix can find largely flat line growth between the 2011 and theirs along the main street or at the impres2016 ABS Censuses; increasing by 261 peo- sive Greensborough Plaza, with countless ple to reach 20,821 and indicating that much stores, restaurants and a cinema. of the movement has been only quite recent.

As of the 2016 census, dwellings of three PRICE or more bedrooms account for 83.6% of the total number of homes. With established HOUSES: Median house price in Greensborfamilies comprising the majority of locals, ough, as of 4 September 2019, is $773,000. it’s understandable that only 16.9% of them Whilst this is down from its peak of $836,000 are renting.

15-months ago, the suburb has enjoyed con With large block sizes and a generation tinued price growth since 2012. Weekly meof downsizers coming to the fore, the oppor- dian advertised rent is $450. tunities for residential reconfiguration are al- UNITS: T he median unit price in most endless.

Greensborough, as of 4 September 2019, is $607,500. Units have enjoyed a similar

→ Diamond Apartments.

Image: JDR Property Developers

median price history to houses, experiencing a peak in mid-2018 but an overall steady increase since 2012. Weekly median advertised rent is $370.

SIGNIFICANT PROJECTS DIAMOND APARTMENTS: JDR Property Developers have teamed up with CHT Architects to deliver 36 environmentally sustainable luxury apartments across four levels.

Incorporated within the 36 dwellings are six two-bedroom specialist disability apartments. Managed by Guardian Living, the SDA apartments are specially designed for people who require high physical support and are rated to ‘Platinum Plus’ standards in accordance with the Liveable Housing Australia Guidelines. This project is expected to be completed in September 2019.

STATE NE WS

VICINITY UNVEILS PLANS FOR AUSTRALIA'S BIGGEST ESPORTS STADIUM Content Supplied by:

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ASX-listed retail property group Vicinity Centres has announced plans to build a purpose-built electronic sports (eSports) complex at Emporium Melbourne, featuring a 200-seat stadium and two floors of gaming and entertainment.

← Image: The Urban Developer

Melbourne, now the epicentre for video gaming and esports culture – with major events such as Melbourne eSports Open and PAX Australia – will now open the largest eSports venue in the southern hemisphere, dubbed Fortress Melbourne.

The multi-billion-dollar eSports industry presents a massive opportunity for property developers in Australia aiming to cash in on the hype and diversify their portfolio away from traditional real estate investments.

The Emporium-based eSports venue will offer an Australian-first purpose-built arena, with more than 160 gaming PCs, console gaming suites, dedicated streamer pods, Roll Playing Game (RPG) and tabletop game play area, function rooms, a full-service restaurant and two bars.

eSporting tournament viewership has already surpassed that of traditional sports broadcasting.

According to Nielsen and Rentrak, total cumulative viewership for major sports finals place the US's NFL Super Bowl first with 124 million viewers and the world's premiere esports competition League of Legends second with 58 million, ahead of international cricket (46 million) and the NBA Finals (32 million).

The rising emergence of the eSports sector – which surpassed $135 billion in revenue worldwide last year, is now expected to grow exponentially with brands and potential sponsors looking to get in early in an market expected to reach $2.5 billion by 2022.

A big part of the sport's future revenue opportunities will revolve around live events – with opportunities to build fan engagement with specific teams and players, while generating typical sports-related revenues in merchandise, concessions and the rest.

Players are also enjoying the lion's share of revenue. Last month Melbourne-based teenager Anathan Pham, 19, collected $4.62 million in prize money at last month’s Dota 2 world championships in Shanghai.

“Emporium Melbourne is thrilled to become the home of the Southern Hemisphere’s biggest video gaming and esports venue which will offer a one-of- a-kind Australian gaming and entertainment experience,” Vicinity Centres chief development officer Carolyn Viney said.

“We are always looking at new, unique experiences to offer our customers and with the global phenomenon of esports rapidly gaining fans in Australia, Emporium Melbourne’s city location makes it the obvious choice for an esports arena and gaming venue that will cater to all audiences.”

While global esports industry revenues are cresting the $1.5 billion mark in 2019, Australian revenues are far behind.

The PwC Entertainment and Media Outlook 2019 report estimates total Australian esports revenue in 2018 was around $4 million and will reach an estimated $8 million by 2023.

Other commercial esports operations in Australia are focused around game developer-owned league events, such as Riot Games’ League of Legends Oceanic Pro League and Activision Blizzard’s Overwatch Contenders Australia, along with major one-off weekend events.

Goldman Sachs has also agreed that eSports is rapidly moving into the mainstream.

The professionalisation of what was previously seen as computer games has paved the way for esports to reach nearly 300 million viewers by 2022.

Fortress Melbourne will offer the best video gaming experiences and entertainment, with the newest tech, fastest internet, comfortable decor, great food and drinks, and a rich calendar of events and tournaments, plus more,” Fortress Esports chief executive Jon Satterley said.

Set to open its doors in early 2020, the stadium, designed by Populous – responsible ANZ Stadium and the new Tottenham Hotspur Stadium in London – will tap into Emporium Melbourne's 20 million annual visitors.

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IS THE UPTREND IN VIC TRANSACTIONS LINKED TO A RETURN OF CONFIDENCE?

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CBRE Victorian Developments Site Sales have witnessed a big uptrend in development site sites, transacting seven sites in the past two weeks alone.

But what does this mean for the broader market and why is it happening?

This is much more than developers regaining confidence from the improved clearance rate. We believe that developers and confident investors will be returning to the apartment / townhouse off-the-plan market; with reasons summarised below:

Melbourne’s ongoing booming population growth has created the tightest rental market we have seen for ten years. Vacancy rates are currently sitting comfortably under 3% across all Melbourne precincts. Given the slowdown in building activity, a smart developer knows that this trend will lead to improved investor conditions over the medium to longer term.

There is less competition but compelling reasons for an investor to buy, which makes for good reasons to buy sites: • Melbourne will continue to grow. We need affordable well located apartment product to cater for this booming demand for inner city living. Developers are pre-empting the under supply of residential product and are focusing their attention to buy sites now.

• As rents grow and banks offer the cheapest debt in our history, it makes solid sense for investors to capture higher yields on their money than cash rates that banks offer.

• Negative gearing will continue long term after the death of the ALP Federal Government challenge, so the higher yield will also be tax effective for many years to come.

• Gross yields in some suburbs are now over 5%, with the benefit of depreciation, this figure could be even higher. This would indicate that apartment values could increase based on historical yield trends compared to other asset classes.

Melbourne is also a very safe place to buy – it is relatively more affordable than Sydney and it offers some of the best education in the southern hemisphere. It is an attractive proposition to lure many Asian investors back into the apartment market.

In addition to this, increasing confidence in the residential housing sector will lead to more owner occupiers selling their homes to either downsize, or assist in funding their children’s first acquisition into the residential market. All up, it appears that we are heading back into a stronger market in the residential development sector.

— Julian White Director, CBRE City Sales and Development Sites 0422 764 137 julian.white@cbre.com.au

THE PROPERT AUCTION & EOIY SCHEDULE DE VELOPMENT RE VIE W

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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.

382-386 Lygon Street

Brunswick East

EOI

Mon 21.10.19 @ 2pm

CBRE & Stonebridge

View

147 Koornang Road

Carnegie

EOI

Mon 21.10.19 @ 2pm

CBRE & Stonebridge

View

409 Clayton Road

Clayton

EOI

Mon 21.10.19 @ 2pm

CBRE & Stonebridge

View

484 Canterbury Road

Forest Hill

EOI

Mon 21.10.19 @ 2pm

CBRE & Stonebridge

View

521 Nepean Highway

Frankston

EOI

Mon 21.10.19 @ 2pm

CBRE & Stonebridge

View

793-797 Whitehorse Road

Mont Albert

EOI

Mon 21.10.19 @ 2pm

CBRE & Stonebridge

View

281 Gaffney Street

Pascoe Vale

EOI

Mon 21.10.19 @ 2pm

CBRE & Stonebridge

View

510-512 Station Street

Carrum

EOI

Thu 24.10.19 @5pm

Real Properties

View

25-31 Banksia Street & 437439 Lower Heidelberg Road

Eaglemont

Private Sale

Contact Agent

Melbourne Acquisitions

View

235-243 Glenferrie Road

Malvern

Private Sale

Thu 10.10.19 @4pm

Melbourne Acquisitions

View

249 Calder Freeway

Taylors Lakes

EOI

Thu 17.10.19 @4pm

Melbourne Acquisitions

View

135-205 Great Alpine Road

Lucknow, Bairnsdale

For Sale

Contact Agent

Melbourne Acquisitions

View

969 & 971 Glen Huntly Road

Caulfield

For Sale

Contact Agent

Aston Commercial

View

265-269 Burke Road

Glen Iris

For Sale

Contact Agent

Aston Commercial

View

215 Highfield Road

Camberwell

For Sale

Contact Agent

Aston Commercial

View

17-19 Balmoral Avenue

Springvale

For Sale

Contact Agent

Aston Commercial

View

293-295 Maroondah Highway

Ringwood

EOI

Wed 30.10.19 @4pm

Knight Frank

View

21,23 & 25 Northumberland Road

Pascoe Vale

EOI

Thu 17.10.19 @3pm

Knight Frank

View

AUCTION & EOI SCHEDULE

18

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.

701 Station Street

Box Hill

For Sale

Contact Agent

Knight Frank

View

197 Main Street

Mornington

For Sale

Contact Agent

Nichols Crowder

View

143 Nepean Highway

Dromana

For Sale

Contact Agent

JLL

View

2-4 Langwith Avenue

Boronia

For Sale

Contact Agent

JLL

View

11-17 Jeffcott Street

West Melbourne

EOI

Fri 18.10.19 @2pm

Allard Shelton

View

1-3 & 9-11 Bloomburg Street & 2 Greenwood Street

Abbotsford

EOI

Wed 23.10.19 @3pm

Colliers International

View

49-51 Railway Road

Blackburn

Auction

Fri 20.09.19 @11am

Colliers International

View

Lot 8002 & 7004, 1880 Thompsons Road

Clyde North

EOI

Thu 03.10.19 @2pm

CBRE & Cameron

View

59 Johnston Street (Cnr Danks Street)

Port Melbourne

Auction

Thu 17.10.19 @12:30pm

CBRE

View

203 Canterbury Road

Blackburn

Auction

Wed 09.10.19 @12:30pm

CBRE

View

415 Riversdale Road

Hawthorn East

EOI

Tue 24.09.19 @2pm

Gorman Commercial

View

THE PROPERT Y DE VELOPMENT RE VIE W

19

FOR SALE

T H E NAT IONA L D E V E LO P M E N T

S I T E

P O R T F O L I O

ON BEHALF OF

7 high quality VIC sites for sale as part of a national portfolio of 25 sites to be sold separately, in groups or in-one-line 1,353sqm*

1,755sqm*

382-386 Lygon Street, Brunswick East, VIC

2,136sqm*

147 Koornang Road, Carnegie, VIC

1,480sqm*

484 Canterbury Road, Forest Hill, VIC 2,250sqm*

793-797 Whitehorse Road, Mont Albert, VIC

409 Clayton Road, Clayton, VIC

2,426sqm*

521 Nepean Highway, Frankston, VIC 1,200sqm*

281 Gaffney Street, Pascoe Vale, VIC *Approximately. Outlines indicative only.

Lincoln Blackledge

Mark Wizel

Julian White

lblackledge@stonebridge.com.au +61 408 780 772

mark.wizel@cbre.com.au +61 411 694 756

julian.white@cbre.com.au +61 422 764 137

VICTORIA LISTINGS

20

For Sale: 510-512 Station Street, Carrum 510-512 Station Street, Carrum, provides a rare opportunity to secure a landmark mixed-use development site in this tightly held bayside suburb.

The site is ideally located directly off Nepean Highway, seconds to Carrum Station and at the doorstep of Port Phillip Bay. It is approximately 35km south-east of Melbourne’s CBD which is easily accessible via several road networks and public transport. Situated within the Carrum commercial precinct, the local area features an impressive array of amenity which will underpin retail success and residential demand predominantly from young professionals and downsizers.

View Listing

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

A Premium Bayside Locale • Significant 1,624m2 Commercial 1 Zoned landholding (C1Z) • Triple street frontage onto Station Street, McLeod Road and Village Lane as well as unique views over Carrum beach and Patterson River •

Short term income from current retail tenancies

• Approved permit for 20 apartments and three retail shops across two levels • Significant local infrastructure investment including the construction of the new Carrum Train Station, completion by 2020 • Positioned in the centre of Carrum’s commercial precinct Expression of Interest closes at 5pm 24th of October www.512stationstreet.com.au

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

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

THE PROPERT Y DE VELOPMENT RE VIE W

21

VICTORIA LISTINGS

22

235 - 243 Glenferrie Road, Malvern, VIC MALVERN’S BEST DEVELOPMENT SITE > > > > >

Prime development opportunity with short term holding income, versatility and exceptional upside Flexible commercial 1 zoning suitable for retail, office, boutique hotel and/or residential (STCA) Value add proposition in one of Melbourne’s leading retail strips surrounded by national retailers 5 separate freehold titles with large carpark at rear accessed via (Stanhope St) Land area 1,589sqm* situated on the south west corner of Glenferrie Rd & Stanhope St

VIEW LISTING DOMINIC GIBSON 0409 366 941

JAMES LATOS 0437 537 957

607 St Kilda Road, Melbourne

*Approx

THE PROPERT Y DE VELOPMENT RE VIE W

23

25-31 Banksia Street & 437-439 Lower Heidelberg Road, Eaglemont, VIC 1.25 ACRES IN PRESTIGIOUS EAGLEMONT > > > > > > > >

Zoned General Residential Zone 2 Median house price of $1,955,000^ Three street frontages totaling 205 metres* Close to Eastern freeway and Eastlink Well serviced by a retail and lifestyle amenity with Burgundy Street retail strip within 440m* Within walking distance of bus stops and Heidelberg train station 1km* from the Austin Hospital, 2km* from Heidelberg Hospital and 1.2km* from Warringal Private Hospital Close to several quality private and public schools

VIEW LISTING DOMINIC GIBSON 0409 366 941

JAMES LATOS 0437 537 957

melbourneacquisitions.com.au

*Approx ^As of June 2019

03 8395 2550

VICTORIA LISTINGS

24

249 Calder Freeway, Taylors Lakes, VIC 7 HECTARE* MIXED USE SITE

> > > > > >

Huge development opportunity with excellent exposure Flexible mixed use zoning to suit a range of development types and future uses (STCA) Vacant land allotment adjoining residential masterplan community developed by Australand Close proximity to schools, Melbourne International Airport, Watergardens Town Centre and Shopping Centre Easy access to major arterials Citylink, Eastlink, Western Ring Road and M1. CBD only 23km* Land area 69,740sqm*

VIEW LISTING DOMINIC GIBSON 0409 366 941

JAMES LATOS 0437 537 957

607 St Kilda Road, Melbourne

*Approx

THE PROPERT Y DE VELOPMENT RE VIE W

25

135-205 Great Alpine Road, Lucknow, Bairnsdale, VIC BROOKFIELD LAKES ESTATE - RETIREMENT SITE > > > > > >

8.2HA* site within a 412 lot masterplan Indicative yield of 173 Independent Living Units Strong underlying demographics with 30% of the population aged 60+^ Located 3km* from Bairnsdale, the commercial hub of East Gippsland Shire (LGA) population 45,040* Thriving region - gateway to beaches, Gippsland Lakes, rivers, mountains and snowfields Project ready to commence

VIEW LISTING DOMINIC GIBSON 0409 366 941

JAMES LATOS 0437 537 957

melbourneacquisitions.com.au

*Approx ^ Census 2016

03 8395 2550

VICTORIA LISTINGS

26

9811 4222

gormancommercial.com.au

415 Riversdale Road Hawthorn East

FOR SALE

75-79 Auburn Road Hawthorn, VIC 3122 HAWTHORN LANDHOLDING WITH SIGNIFICANT POTENTIAL

Gorman Commercial in conjunction with Jellis Craig Boroondara are pleased to offer this rare Hawthorn landholding with significant potential for sale via an expression of interest campaign closing on Tuesday 24th September 2019 at 2.00pm.

• Located in central Auburn Village retail precinct • Land area: 1,082 sqm approx.

• Unprecedented development upside for office, residential or mixed-use development (S.T.C.A.) • Flexible Commercial 1 zoning • Rear access via R.O.W. • Highly proven apartment precinct driven by owner occupier demand and strong median house price around $2,000,000 *Approx Jonathon McCormack 0418 835 885

Stephen Gorman 0418 321 828

Steven Abbott 0407 324 240

VIEW LISTING

THE PROPERT Y DE VELOPMENT RE VIE W

27

Boundary Indicative

Landmark Site Expressions of Interest 143 Nepean Highway, Dromana VIC – 48 Ha* / 120 Acres* – 1.5 kms* of sealed highway and freeway frontages

Expressions of Interest Closing Thursday 19 September at 4pm

Alex McColl MingXuan Li 李名轩 Noral Wild Langton McHarg

0466 620 828 0498 688 998 0409 439 991 0402 138 451

property.jll.com.au/303238

– Exciting activated permitted development opportunities – The only permitted site of its kind on the Mornington Peninsula – 8 million* visitors per annum *(approx)

VICTORIA LISTINGS

28

Boundary Indicative

Invest in Medical For Sale 2-4 Langwith Avenue, Boronia VIC – Part leased to ASX listed Sonic Health – Significant land holding of 2,604sqm* MUZ

For Sale by Expressions of Interest

Closing Thursday 19 September at 3pm

Tom Aylward 0408 548 551

Tom Ryan 0450 298 920

MingXuan Li 李名轩 0498 688 998 property.jll.com.au/303260

*(approx)

Want to advertise in The Property Development Review?

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

THE PROPERT Y DE VELOPMENT RE VIE W

29

WEST MELBOURNE 11-17 Jeffcott Street

FOR SALE BY EXPRESSIONS OF INTEREST closing Friday 18 October 2019 at 2pm

LI JU ST ST ED

SUBSTANTIAL OFFICE FREEHOLD WITH MASSIVE UPSIDE

Prime CBD Fringe Location •

Enormous development potential on the door step of the CBD

•

Prominent double storey building of 868sqm*

•

Prime site: 468sqm* - 18.6m* frontage to Jeffcott Street

•

Opportunity to occupy, invest or develop

For more information please contact: Joseph Walton

0417 309 347

Michael Ryan

0433 180 199

James Gregson

0421 516 480

VIEW LISTING *Approx

9654 3222

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

FOR SALE: 197 MAIN STREET, MORNINGTON VIC 3931 VIEW LISTING

• • • •

Substancial commercial land Land area 220sqm* Building area 86sqm* Freehold title with three frontages

For further information, enquiries or to arrange an inspection, please contact:

• Invest/Develop (STCA) • Commercial 1 Zone • Adjoining council carpark

JAMIE STUART – 0412 565 562 TANYA SCAGLIARINI – 0438 289 859 Please Note: All areas and measurements are approximate (*). All prices are plus GST, unless otherwise stated. All images are subject to copyright.

VICTORIA LISTINGS

30

All these properties are different.

That’s why our approach is.

When it comes to gaining the maximum from a property investment, there’s no one size that fits all.

From there it’s up to you.

That’s as true of the four properties across the page, as any other we deal with.

As a trusted generational advisor with a commitment to embracing change, we have strong experience with development, do our homework first and talk second.

Each has qualities that immediately stand out.

We’re not in it for the quick sting, but for the long term and we think that’s a bit different.

Park views, generous street frontage, public transport hub and strong income in prime corner position.

Good luck and good buying.

astoncommercial.com.au

Talk to us about a different way.

Call 8532 2222.

THE PROPERT Y DE VELOPMENT RE VIE W

31

969 & 971 Glen Huntly Road, Caulfield

SALE

265-269 Burke Road, Glen Iris

SALE

DUAL PROPERTY CORNER

BUILD THE BOUTIQUE ON BURKE

Total Land Area: 426 sqm*

Combined street frontage of 49m* to Glen Huntly and Fallon Roads

Land Area: 525 sqm*

Price Guide: $2.5 Million

Zoning: Commercial 2 (C2Z)

Well connected by public transport and major arterials

Zoning: Commercial 1

Long Term Settlement Offered

Office development scheme offering 806 sqm* NLA over 4 levels

Existing retail / dwelling + Rear Laneway Access

Substantial 15m* street frontage

Flexible Deposit terms

Max Warren Liam Rafferty

0488 296 892 0421 886 655

215 Highfield Road, Camberwell

PERMIT APPROVED TOWNHOUSE SITE

Zoning: General Residential 1 (GRZ1)

Close proximity to public transport and prominent private schools Blue chip location with elevated views of Lynden Park

Permit Approved for 5 luxury townhouses

Jeremy Gruzewski Liam Rafferty

0418 567 560 0488 296 892

17-19 Balmoral Avenue, Springvale

SALE

SALE

Land Area: 1,416 sqm*

Fred Nucara Max Warren

0422 211 021 0421 886 655

INCOME + POSITION + POTENTIAL = GOLDEN PLAZA Land Area: 2,968 sqm*

Permit for 10 levels with 11,128 sqm* NSA

Zoning: Commercial 1

1,865 sqm* arcade with 14 ground shops and first floor restaurant

Strong income with significant upside

Prime corner position

Jeremy Gruzewski Fred Nucara

0422 211 021 0418 567 560 *approx

a different way

VICTORIA LISTINGS

32

Accelerating success Reach more people – better results faster.

BUY ONE / BUY BOTH ABBOTSFORD SUPER SITE 1-3 BLOOMBURG STREET / 2 GREENWOOD STREET & 9-11 BLOOMBURG STREET, ABBOTSFORD FOR SALE BY EXPRESSION OF INTEREST CLOSING WEDNESDAY 23RD OCTOBER 2019 AT 3PM - Large total land parcel of 3,345m²* - 1-3 Bloomburg Street / 2 Greenwood Street Land Area 2,155m²* - 9-11 Bloomburg Street Land Area 1,190m²* - Two street frontages – Bloomburg Street & Greenwood Street - Suits investors, owner occupiers and developers (STCA)

View Now Andrew Ryan 0408 543 527

*Approximately

Peter Bremner 0412 326 942

Ted Dwyer 0411 312 165

Accelerating success Reach more people – better results faster.

RARE FREEHOLD OFFICE BUILDING IN BUSTLING BLACKBURN 49-51 RAILWAY ROAD, BLACKBURN FOR SALE – ON-SITE AUCTION FRIDAY 20TH SEPTEMBER AT 11AM – – – – –

Building Area: 741m²* Land Area: 552m²* Commercial 1 Zone Prime location opposite Blackburn Railway Station Suits owner occupiers, investors or developers (STCA) *Approximately

View Now Andrew Ryan 0408 543 527

Alex Browne 0418 350 545

Tom Zhou 0433 311 280

THE PROPERT Y DE VELOPMENT RE VIE W

33

Accelerating success Reach more people – better results faster.

INIMITABLE IVANHOE GEM 103 MARSHALL STREET, IVANHOE FOR SALE BY EXPRESSION OF INTEREST CLOSING THURSDAY 17TH OCTOBER AT 3PM – – – – –

Building Area: 460m²* Land Area: 686m²* Creative Development Site (STCA) First time offered in over 30 years Suits an array of owner occupiers

View Now Ted Dwyer 0411 312 165

Alex Browne 0418 350 545

*Approximately

outlines indicative

Connecting people & property, perfectly.

21, 23 & 25 Northumberland Road, Pascoe Vale VIC.

701 Station Street, Box Hill VIC.

Thursday, 17 October at 3pm (AEST).

For Sale

For Sale by EOI closing

Artist’s impression

Flexibility to convert permit

Ed Wright 0421 213 021 Danny Clark 0448 066 889

View Listing View at knightfrank.com.au

Land area 830 sqm*

/1234567

Existing planning permit

Tim Grant 0478 666 275 Tom Ryan 0419 786 244

View ViewListing at knightfrank.com.au

In the heart of Box Hill *Approx

Approved for 9,331 sqm* GFA

*Approx

Land area of 2,391 sqm*

/1234567

VICTORIA LISTINGS

34

Connecting people & property, perfectly.

Artist’s impression of approved development

293 – 295 Maroondah Highway, Ringwood VIC. For Sale by Expressions of Interest closing Wednesday, 30 October at 4pm (AEST).

Approved Mixed Use Development Approved plans and permit

Strong holding income & upside

To suit office, hotel or mixed-use (STCA)

Prominent position with great exposure

Close proximity to popular amenity

View Listing

Located within a strategic eastern suburbs location and strong growth corridor the site is prominently located with significant frontage to Maroondah Highway, the property is within close proximity to Eastland Shopping Centre, Ringwood Train Station and provides easy access to Eastlink and the Eastern Freeway.

Tim Grant 0478 666 275 Danny Clark 0448 066 889 Ed Wright 0421 213 021

*Approx.

Land area of 1,360 sqm*

A prime corner site of 1,360 sqm over two titles with an approved planning permit for a 15 level mixed use development with 7,294 sqm* of NSA. The site currently comprises of two retail premises with strong holding income & upside potential.

A rare opportunity to utilize existing permit immediately or modify to suit office, hotel or mixed-use development (STCA) with unrestricted views over Ringwood Lake and Bedford Park.

THE PROPERT Y DE VELOPMENT RE VIE W

Introducing: Local Area Experts If you’re an industry expert such as Architectural, Town Planning, Building, Financial Services or Consultant, your company brand message can now exclusively appear within every property listing in your selected suburbs.

Geographically targeting a qualified audience of investors and developers while they are actively searching for their next development project is clever marketing.

Talk to us today about how Development Ready’s Local Area Experts platform can really boost your Company’s marketing program.

CONTACT Ted Lloyd Tel: 0408 276 103 ted@developmentready.com.au

35

STATE SPOTLIGHT

36

STATE SPOTLIGHT: NEW SOUTH WALES

Suburb Report: Dee Why

New South Wales Auction Schedule

160-Unit Development in Redfern

New South Wales Listings

Content by: Jack M. Gaffney

THE PROPERT Y DE VELOPMENT RE VIE W

37

Suburb Report: Dee Why Renowned for its incredible natural beauty, Dee Why is a busy, beachy neighbourhood in Sydney’s high demand north. Its wide range of amenities, including multiple cafés, restaurants, retail, parks, and schools, makes Dee Why an especially self-sufficient community, without much need to travel far. Its proximity to Sydney’s CBD, however, does make it a practical spot for working professionals who want a beach focused life; and Dee Why is definitely ‘beach focused’.

who have dropped by to see what all the fuss is about.

Off the beach however is a world well equipped for convivial life. Dotted throughout the main streets (and off) are multiple schooling options, cosmopolitan eateries and retail, and many other specialty retail, pubs and clubs.

PRICE

HOUSES: Detached houses account for around one quarter of total dwellings, and with this scarcity, comes a premium. The The ABS estimated population for Dee Why median house price as of 4 September 2019 as of mid-2019 is 24,161; an increase of 21.8% was $1.53 million. Weekly median advertised since the 2011 census. rent is $800.

With its active lifestyle, Dee Why is well UNITS: While units are more plentiful suited to working professionals and young than houses, many offer stunning views of families; with a median age of 36, the res- the ocean and are tailored toward small famidential population is skewed towards that ilies or working individuals. The median price way. Family households account for almost for units as of 4 September 2019 is $715,000. two thirds, while around 30% of homes are Weekly median advertised rent is $540. resided by just one person.

SIGNIFICANT PROJECTS CULTURE THE CARLYLE: Gannet Developments is reWith stunning beaches, the bathing sea baths sponsible for bringing this nine-storey resiand numerous rock pools to explore, Dee dential development to Dee Why’s main road.

Why’s shoreline sees continued action from Marchese Partners have supplied the desunrise to sunset. It’s common to spot a few signs, allowing for 85 individual apartments locals meeting for an early swim, joggers many with views of the ocean. The building out for their midday run, or some tourists also offers a rooftop lounge for residents.

RESIDENTS

→ The Carlyle.

Image: Gannet Developments

OSPREY: Just down the road from The Carlyle is Gannet Developments and Marchese Partners’ second residential project, Osprey. Two towers, each rising six levels above the street, offer a combined total of 123 executive security apartments including Studios, 1 bedroom, 1 bedroom plus study, 2 bedroom and 2 bedroom plus study apartments. The pet-friendly building boasts landscaped gardens and a spectacular common entertaining area with decks, patios and level lawns.

STATE NE WS

38

160-UNIT DEVELOPMENT IN REDFERN Content Supplied by:

A proposal for a flagship 160 apartment development located at 11 Gibbons Street Redfern has received development approval for one of Australia's largest community housing providers SGCH.

The 18-storey $90 million development will deliver a mixture of 1, 2 and 3-bedroom units, including ground floor retail and commercial space, management office and a community hub.

SGCH is buying the Redfern site, which was previously a council depot, from the City of Sydney for $15.2 million.

SGCH chief executive Scott Langford says the project is an important piece of social infrastructure. “[Located] in a high demand location with excellent access to public transport and major employment centres,” Langford said.

“It’s a critical project moment and brings us closer to the day we welcome 160 households into their new home in the heart of Redfern.”

SGCH, a not-for-profit community housing provider, is working with Joe Hurst from the Boomali Aboriginal Artists Co-Op to include Aboriginal art as part of the building fabric, including the brick façade, lobby and the communal open space.

The site, which was made available for social and affordable housing, is part of a state significant area known as the Redfern Waterloo Growth Centre. The project is in partnership with the City of Sydney, through the discounted land contribution, and project financiers Clean Energy Finance Corporation (CEFC).

The application was lodged with the Department of Planning and Environment in September last year, with construction expected to commence next month. The development is the outcome of a design excellence pilot program with the NSW government architect.

Lord Mayor Clover Moore said the city of Sydney was exploring new ways to increase the supply of affordable housing in the city. “Including through selling land at discounted rates and through our Alternative Housing Ideas Challenge which will help develop new housing models and new ways of thinking about housing finance, management and design.”

→ Image: The Urban Developer

Affordable housing enables key workers, the likes of teachers, nurses and firemen to live close to their place of employment.

SGCH, which develops buildings with sustainability standards through its partnership with CEFC, now houses around 11,000 people in more than 6,300 homes across the Sydney Metropolitan Region. It has a development pipeline of 1000 dwellings to be delivered by 2022.

The new Redfern building will be energy efficient with an 8-star rating under the Nationwide House Energy Rating Scheme (NatHERS), providing increased thermal comfort and reduced household energy costs, a vital factor for low income households in social and affordable housing.

AUCTION & EOI SCHEDULE

39

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.

222 Tongarra Road

Albion Park

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

51 Bondi Road

Bondi

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

646 Hume Highway

Casula

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

369-375 Concord Road

Concord West

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

191-195 Lyons Road

Drummoyne

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

287-295 Victoria Road

Gladesville North

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

114-120 Victoria Road

Gladesville South

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

240 Maitland Road

Islington

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

125 O'Riordan Street

Mascot

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

225 Woodville Road

Merrylands

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

17 Mount Street

Mount Druitt

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

26 Enmore Road

Newtown

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

98 March Street

Richmond

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

488 Old South Head Road

Rose Bay

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

414-416 Princes Highway

Sylvania Heights

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

75-77 King Street

Warrawong

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

2273-2287 Elizabeth Drive

Luddenham

EOI

Closing 21.10 @4PM

Knight Frank

View

Cnr Donald & Yacaaba Street

Nelson Bay

EOI

Closing 24.10 @4PM

Knight Frank

View

AUCTION & EOI SCHEDULE

40

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.

87-93 Macleay Street & 10-12 Hughes Street

Potts Point

EOI

Closing 10.10 @2PM

JLL

View

37 Gaza Road

West Ryde

EOI

Closing 14.10

JLL

View

101 Raleigh Road

Milpera

EOI

Closing 10.10 @3PM

Ray White Commercial

View

181-183 Gertrude Street

Gosford

Auction

Tue 15.10.19 @10.30AM

Ray White Commercial

View

Lot 1747 Seabreeze Boulevard

Pottsville

EOI

Closing 9.10 @4PM

Ray White Commercial

View

36-40 Parramatta Road

Croydon

Auction

Thu 17.10.19 @10:30AM

LJ Hooker Commercial

View

845 Pacific Highway

Chatswood

EOI

Closing 10.10 @4PM

Colliers International

View

55 Throsby Street

Wickham

EOI

Closing 3.10 @5PM

Street Property

View

THE PROPERT Y DE VELOPMENT RE VIE W

41

FOR SALE

T H E NAT IONA L D E V E LO P M E N T

S I T E

P O R T F O L I O

ON BEHALF OF

16 high quality NSW sites for sale as part of a national portfolio of 25 sites to be sold separately, in groups or in-one-line 1,903sqm*

1,740sqm*

222 Tongarra Road, Albion Park, NSW

1,260sqm*

51 Bondi Road, Bondi, NSW

2,087sqm*

191-195 Lyons Road, Drummoyne, NSW

1,158sqm*

287-295 Victoria Road, Gladesville North, NSW

2,109sqm*

125 O’Riordan Street, Mascot, NSW

2,270sqm*

225 Woodville Road, Merrylands, NSW

1,480sqm*

98 March Street, Richmond, NSW

488 Old South Head Road, Rose Bay, NSW

3,514sqm*

1,709sqm*

646 Hume Highway, Casula, NSW

1,959sqm*

369-375 Concord Road, Concord West, NSW

1,033sqm*

114-120 Victoria Road, Gladesville South, NSW

3,181sqm*

240 Maitland Road, Islington, NSW

971sqm*

Luxford Road, Mount Druitt, NSW

1,589sqm*

26 Enmore Road, Newtown, NSW

2,950sqm*

414-416 Princes Highway, Sylvania Heights, NSW

75-77 King Street, Warrawong, NSW

*Approximately. Outlines indicative only.

Lincoln Blackledge

Mark Wizel

Julian White

lblackledge@stonebridge.com.au +61 408 780 772

mark.wizel@cbre.com.au +61 411 694 756

julian.white@cbre.com.au +61 422 764 137

NE W SOU TH WALES LISTINGS

42

P OT TS

P O I N T

87-93 MACLEAY STREET & 10-12 HUGHES STREET, POT TS POINT

Create your legacy – substantial mixed use development site on prestigious Macleay Street

SUPPORTED BY

Impressive 2,170*sqm site area Stunning uninterrupted views to Sydney Harbour Bridge, Opera House and the city skyline 50*metre frontage onto Macleay Street with potential underground parking access via Hughes Street (STCA) Sydney’s most cosmopolitan inner eastern suburb International Expressions of Interest close on Thursday 10 October at 2pm (AEST)

Michael Khouri 0420 989 353 Michael.Khouri@ap.jll.com

Jason Boon 0418 671 494 jboon@rwebay.com.au

Ben Hunter 0499 486 999 Ben.Hunter@ap.jll.com

VIEW LISTING

Approximate

*

THE PROPERT Y DE VELOPMENT RE VIE W

43

Connecting people & property, perfectly.

Spring Valley Park

Melbourne CBD 29km* Retail Strip

ypass

ong B

n Dande

oad Springvale R Pa te

Keysborough Primary School

rso

Co o o ra R

moo

Crown Allotment 2272, Darren Road, Springvale South

nR oa

d Darren Reserve Kindergarten

ad

n Ro

ad

e Darr

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

Cnr Donald & Yacaaba Street, Nelson Bay NSW 2315.

Exceptional in-fill site optionality.

For Sale via Expressions of Interest Closing Thursday, 24with October at 4.00pm (AEST)

Site 2,012 sqm* (Approx)

Huge development potential

Perfectly positioned for a prime residential development this magnificent abuts Keysborough Primary School ELSONsite BAY'S JEWEL IN THE CROWN. encompassed within a strong residential area. Under the Knight Frank is pleased to offer this unique development Neighbourhood Residential Zoning the astute buyer will seize opportunity in one of New South Wales' most desirable the opportunity to create a brand new precinct within the tourism lifestyle destinations.

Zoned B2 Local Centrecurrent site and and harbour a new and innovative community.

Neighbourhood Residential Zoning

with a 28m height limit

Major Transport Links Nearby

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

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

–

2,012 sqm* combined site area

–

The site is serviced with water and electricity

Situated moments from Dandenong bypass and allowing easy – Dual street frontage to Yacaaba and Donald Street access to both Eastlink and Springvale Rd, this property is sure – confidence Regular shaped positioned on a corner block to provide to anyallotment purchaser.

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

–

Zoned B2 Local Centre with a 28m height limit

Stephen Kelly 0407 320 377 residential flat building – DA approved for a 56-unit plus 30414 retail suites James Thorpe 510 071

*Approx.

1.27 ha* site

* Approx

NE W SOU TH WALES LISTINGS

44

Connecting people & property, perfectly.

Spring Valley Park

Melbourne CBD 29km* Retail Strip

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Keysborough Primary School

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Crown Allotment 2272, Darren Road, Springvale South

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e Darr

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

2273-2287 Elizabeth Drive, Luddenham, NSW, 2745.

Exceptional in-fill site with For Sale via Expressions of Interest Closing 10th October 2019 atoptionality.

4:00pm (AEST)

Site 10.2 hectare* (Approx)

Huge development potential

Neighbourhood Residential Zoning Zoned RU2 Rural Landscape

Major Transport Links Nearby

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

Mark Litwin 0415 742 605 Excellent access to 558 Centrally Grant Bulpett 0415 226 located to major arterial roads fantastic Arland Domingo 0411 620 722ammenities View Listing View Listing

Perfectly positioned for a prime residential development this magnificent site abuts Keysborough Primary School STRATEGICALLY POSITIONED AND encompassed within aCONNECTED. strong residential area. Under the STRONGLY Neighbourhood Residential Zoning the astute buyer will seize the opportunity to create a brand new precinct within the Knight Frank is pleased to present to market 2273 - 2287 current site and harbour a new and innovative community.

Elizabeth Drive, Luddenham.

Situated The moments from positioned Dandenong bypass and allowing easy strategically 10.2 hectare* parcel of land access to both Eastlink and Springvale Rd,part thisof property is sure sits within the Penrith LGA and forms the Western Sydney Priority to Growth area. to provide confidence any purchaser.

With Yarraman Railway Station, Keysborough Secondary – 10.2 hectare (25 acre)* College site area and Parkmore Shopping Centre in close proximity, this property is likely to – Located 4.1km from the long awaited Western fulfill even the most particular of purchasers.

–

Sydney Airport

Current Zoning: RU2 - Rural Landscape

Stephen Kelly 377 with future flexible – Raw 0407 englobo320 land holding employment uses 071 James Thorpe 0414 510

*Approx.

1.27 ha* site

* Approx

THE PROPERT Y DE VELOPMENT RE VIE W

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Accelerating success Reach more people – better results faster.

CHATSWOOD CBD COMMERCIAL FREEHOLD & DEVELOPMENT SITE

845 Pacific Highway, Chatswood NSW 2067

– Prominent gateway island site of 2,047m² *

Sold via Expressions of Interest Closing 4pm Thursday 10th October (AEST) 845 Pacific Highway is Chatswood’s preeminent development site in arguably the most recognised gateway position on Sydney’s North Shore. This freehold commercial building offers the chance to purchase an island site with huge development potential (STCA).

Henry Burke 0418 238 636

Steam Leung 0412 236 138

View Now

Joseph Lin 0452 070 980

– Future development potential of up to 35,520m² of GFA (STCA) – North facing with excellent views & all-day natural light – Prime freehold land in Chatswood with favourable planning controls – Freehold building of 4,109m² NLA & 55 cars * – Short walk to Chatswood’s retail amenity & world class transport systems – 1.5 Star NABERS

* Approx

colliers.com.au

NE W SOU TH WALES LISTINGS

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7.9HA* SITE WITH HOLDING INCOME Milperra, NSW, 101 Raleigh Road

EXPRESSION OF INTEREST

Closing Thursday 10 October at 3:00pm (AEDT) • Site area 7.9ha* (79,080sqm*) • 340m* frontage to Raleigh Road • Zoned RU4 Primary Production Small Lots

• • • • • •

Adjoining R2 low density residential Significant development potential^ Current leased to three established tenants Combined passing income $421,960 p.a. + GST * Potential to increase rental return with additional tenancies Situated in a high growth precinct area with significant infrastructure upgrade • Potential delayed settlement available

View Listing

Peter Vines 0449 857 100 Victor Sheu 0412 301 582 Joseph Assaf 0401 397 696 * Approximately ^ Subject to Council Approval

raywhitecommercial.com.au

DA & CC APPROVED SITE - VENDORS SAY SELL Gosford, NSW, 181-183 Gertrude Street

AUCTION

Tuesday 15 October at 10.30am (AEDT) Venue: Mezzanine Level, 50 Margaret Street, Sydney NSW 2000

View Listing

• • • • • • • •

Site area 1,631sqm* DA & CC approved site for 54 apartments Generous floor plan layouts Seven level design over basement car parking Existing 2 houses that can be leased with income 950m* to Gosford Railway Station Less than 850m* to both Gosford Public & Private Hospitals Close proximity to Gosford shopping centre & CBD

Joseph Assaf 0401 397 696 Victor Sheu 0412 301 582

* Approximately

raywhitecommercial.com.au

THE PROPERT Y DE VELOPMENT RE VIE W

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POTENTIAL SCHOOL SITE Pottsville NSW, Seabreeze Boulevarde

Outline and Locations Indicative Only

Outline Indicative Only

EXPRESSIONS OF INTEREST

Closing Wednesday 9 October 2019 4pm • • • • •

Land area 6.27Ha* 2.5km* to Pottsville village and beachfront 25mins* to Coolangatta / Tweed Heads and 30mins* to Byron Bay Designated Potential School Site in Tweed Shire Council DCP Designated Low Density Residential (Tweed LEP 2014)

• Cleared, generally flat, serviced vacant land • Located within Seabreeze Residential Estate

Mark Creevey 0408 992 222 mark.creevey@raywhite.com Tony Williams 0411 822 544 tony.williams@raywhite.com

*Approx

raywhitespecialprojects.com

VIEW LISTING

Croydon 36-40 Parramatta Road Invest Or Develop • 2,175 sqm land area • Opportunity to increase the land area • Imminent increase of FSR and height due to the revitalisation of the Parramatta Road Corridor • Flexible B6 – Enterprise Corridor Zoning

ljhookercommercial.com.au

• Corner site with 43 meter exposure to Parramatta Road • Kings Bay precinct transformation plan • 1.5 km to the Croydon train station • Centrally located close to transport hubs and the Westfield Shopping Centre

For Sale via Public Auction on Thursday, 17th October at 10:30am.

Steven Kruyer 0414 404 070

• Ground floor pedestrian access direct from Bolton Street and internal access from the basement carpark

NE W SOU TH WALES LISTINGS

0402 009 532

0423 617 149

Andrew Walker

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

55 Throsby Street WICKHAM For Sale by Expressions of Interest Closing October 3rd at 5pm

• Large Warehouse Site Spanning 1,414sqm in the Wickham Redevelopment Area • The Wickham Master Plan 2017 has seen the strategic shift of the commercial core of the city centre to Newcastle West along with the development of the Newcastle Transport Interchange and a cluster of new high-rise apartment blocks. Located amid this flurry of activity, 55 Throsby Street offers a range of exciting possibilities for business or development.

• S panning an approximate 1,414sqm with 42m frontage to Throsby Street, 14m frontage to Furlong Lane and zoned B4 - Mixed Use, the warehouse on site would suit a range of business uses including light industrial, childcare and medical facilities or as a potential site for a new apartment block, all subject to council approval.

Damon Sellis 0410 468 968 Laura O’Sullivan 0421 914 715

View Listing

Boundary Indicative

Large undeveloped land in West Ryde For Sale 37 Gaza Road, West Ryde – Large land holding with site area of 3,239sqm* – Zoned R2 – Low Density Residential – 650m* from the West Ryde train station and 800m* from Meadowbank train station – Dual street access from Gaza Road and Hughes Street – Permissible uses: Dual Occupancies, Dwelling houses, Group Homes, Home-based Child Care, Places of Public Worship, Boarding Houses and more *(approx)

For Sale by Expressions of Interest Closing Thursday 17 October 2019

Dylan McEvoy 0406 560 204 dylan.mcevoy@ap.jll.com Gordon McFadyen 0451 956 273 gordon.mcfadyen@ap.jll.com property.jll.com.au/304082

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THE PROPERT Y DE VELOPMENT RE VIE W

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STATE SPOTLIGHT

50

STATE SPOTLIGHT: QUEENSLAND

Suburb Report: Mermaid Beach

Queensland Auction Schedule

Marquette Snaps Up Queen St Mall Asset

Queensland Listings

Content by: Jack M. Gaffney

THE PROPERT Y DE VELOPMENT RE VIE W

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Suburb Report: Mermaid Beach With the stunning canals and estuaries of the Gold Coast to the west and the vast Pacific Ocean to east, Mermaid Beach is a gorgeous coastal township situated pretty much halfway between Southport and Burleigh Heads.

While its aquatic nature cannot be avoided, and many herald it as one of Australia’s most beautiful coastlines, Mermaid Beach also presents a varied lifestyle with proximity to all pleasures of South-East Queensland. Large scale apartment complexes have done, and continue to do, well in the area, taking full advantage of the demand for comfort, ease and, of course, a spectacular view.

bane’s CBD within an hour, and Byron Bay within 45 minutes.

The surrounding neighbourhoods included, this beachy-vibe community is serviced by schooling at all levels; from day-care to university. Families can often be seen out enjoying the beaches or the many wonderful nearby parks – don’t forget your picnic basket.

Restaurants, shopping and local nightlife are easily enjoyed at the very nearby Surfers Paradise, while other precincts in proximity all offer their own unique charm. Some renowned locations include the Magic Mountain and Santorini Resorts, Pacific Fair Shopping Centre, Conrad Jupiters Casino and Oasis Shopping Centre.

SIGNIFICANT PROJECTS

MAHALA MERMAID BEACH: Mahala Mermaid Beach offers 94 light-filled and thoughtfully designed two, three and four bedroom apartments spread across 25 floors.

Designed by Cottee Parker, and lead by Pindan Capital, Mahala offers its residents ‘resort-like’ amenities, which include; tropical gardens, a pool terrace featuring a wet edge pool with spa seats, alfresco barbecue spaces, private dining rooms, lounge areas, surfboard racks, a beach wash down area, secure delivery facility and bicycle storage and more.

The building will also incorporate a rooftop RESIDENTS solar-farm system to reduce energy costs.

ELEGANCE: This twin tower residential Although only 1.5 square kilometres in size, project, by United Investment Group, has the density is high with 6,533 people recorded to PRICE architecture and interior design performed by live in the area as of the last census. Populathe award winning Raunik Architects. The detion saw an increase of around 14% between HOUSES: As of 4 September 2019, the me- sign has been carefully considered according the 2011 and 2016 Censuses, with median dian house price is sitting at $1.4 million. The to the latest Feng Shui principals with each age increasing two years to 35. demand for large homes is still prevalent and apartment boasting exceptional views.

While high-rise apartments have begun so this sector has not experienced the same One tower of 50 levels, and one of 43, to increase in the area, Mermaid Beach is re- national housing dip through 2017/2018 as comprise a mix of 522 one, two and three nowned for large, luxury residential homes other areas. The current weekly median ad- bedroom suites. Some special features protoo. Residents vary from young profession- vertised rent is $650. vided for include; rooftop terraces, a lounge als to high-earning families.

UNITS: At the same point in time, the and general amenities level and a cinema. median unit price is $440,000. Unit prices CULTURE have experienced a slight, but steady, upward trajectory. More apartments are coming Mermaid Beach offers an opportunity at a onto the market, but the demand is there to varied, active and social life. The M1 Free- greet them. The current weekly median adway is a short drive away, which leads to Bris- vertised rent is $450.

→ v Mermaid Beach.

Image: Pindan Capital

STATE NE WS

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MARQUETTE SNAPS UP QUEEN ST MALL ASSET Content Supplied by:

Brisbane-based investment manager Marquette Properties has snapped up a prime corner retail asset in central Brisbane for $77 million, quickly moving to undertake major refurbishment works.

Marquette, which dipped into the Brisbane office market in April with the purchase of 288 Edward Street for $115 million alongside US real estate investment management firm Heitman, has now partnered with global asset manager PGIM to acquire the high profile retail asset.

The four-storey retail property, with three frontages in the heart of one of Australia's busiest malls, features the largest McDonald’s in the southern hemisphere.

The 1,102sq m site, located on the corner of Queen Street Mall and Albert Street, was previously owned by the Smorgon family – led by the late billionaire Victor Smorgon, who held the site for 23 years.

Marquette now plans to undertake major refurbishment works to reposition the asset into a “trophy investment appropriate to its prime location”.

The property group has engaged Brisbane-based architectural practice Cavill Architects to design a refurbishment that will heighten the visitor experience, retail exposure and increase trade.

The retail and office building, which offers 3,770 square metres, is fully leased with a 5.1-year weighted average lease term. Notable tenants include Gelatissimo, Forever New and Money Exchange.

JLL's Sam Hatcher, who brokered the deal for 130 Queen Street with colleagues Seb Turnbull, Jacob Swan and Luke Billiau, pointed at the “scarcity value” of assets on super-prime strips such as Queen Street Mall.

“CBD retail is one of the most compelling sub-sectors at present given the underlying land value and potential for future adaptive re-use.”

“The property has the potential to be a future multi-level flagship development.”

Marquette's strategic partners PGIM continue to flex their muscle after last year transacting $17 billion worth of property, including acquiring a 75 per cent stake in York & George, a $450 million retail and commercial development at 383 George Street in Sydney.

→ Image: The Urban Developer

PGIM also bought and sold 215 Adelaide Street in 2015, following a major refurbishment and they were also the financier behind the Howard Smith Wharves development, providing $70 million in funding.

Marquette and PGIM are now eyeing the underlying fundamentals and potential of Brisbane's most central and prominent retail strip. “Marquette looks to buy assets and transform them into trophy investments that make the city better,” Marquette managing director Toby Lewis said.

“We also look to buy assets that are familiar to us in our personal and professional lives as we feel it gives us safety and understanding about the asset and its local context to the community around it.

“For us to be acquiring an asset so familiar to us as locals and most ‘Brisbanites’ is really exciting.” Marquette in partnership with Moelis Australia Asset Management also recently sold 164 Grey Street, South Bank for $46 million.

Refurbishment works for 130 Queen Street are set to commence earlier next year and with completion due mid-2020.

AUCTION & EOI SCHEDULE

53

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.

2885 Gold Coast Highway

Surfers Paradise

EOI

Closing 21.10 @2PM

CBRE & Stonebridge

View

134-144 Irene Street

Mooroobool

For Sale

Contact Agent

CBRE

View

565 Maroochydore Road

Kunda Park

EOI

Closing 3.10 @4PM

Colliers International

View

1 River Hills Road

Eagleby

For Sale

$1,135,000

Savills

View

74 The Esplanade

Belgian Gardens

EOI

Closing 9.10

Savills

View

1041 Wynnum Road, 1045 Wynnum Road & 67 Ludwick Street

Cannon Hill

For Sale

Offers by 25.10 @5PM

Harcourts Inner East

View

Lot 195 Gatton Helidon Road

Carpendale

EOI

Contact Agent

Scan Property

View

1 Petrie Street

Coolangatta

For Sale

Contact Agent

GV Property Group

View

QUEENSL AND LISTINGS

54

FOR SALE

T H E NAT IONA L D E V E LO P M E N T

S I T E

P O R T F O L I O

ON BEHALF OF

1 high quality QLD site for sale as part of a national portfolio of 25 sites to be sold separately, in groups or in-one-line 1,680sqm*

2885 Gold Coast Highway, Surfers Paradise, QLD This 1,680sqm* land parcel is an outstanding opportunity for a high-density residential/hotel development located in the centre of Gold Coast, Surfers Paradise.

The property has no set building height maximum and is surrounded by a number of high-rise apartment and hotel developments.

51m *

Mantra Wings Hotel (100m*)

1,680sqm*

GOLD

COAS

T HIG HW

AY

Surfers Paradise Beach (300m*)

Nerang River

GO LD CO AST HIG HW AY

*Approximately. Outlines indicative only.

Lincoln Blackledge

Mark Wizel

Julian White

lblackledge@stonebridge.com.au +61 408 780 772

mark.wizel@cbre.com.au +61 411 694 756

julian.white@cbre.com.au +61 422 764 137

Steve Clark

Darren Collins

steve.clark@cbre.com.au +61 400 338 434

darren.collins@cbre.com.au +61 404 781 787

THE PROPERT Y DE VELOPMENT RE VIE W

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Accelerating success Reach more people – better results faster.

UNIQUE INDUSTRIAL OFFERING – SUNSHINE COAST​

565 Maroochydore Road, Kunda Park QLD 4556

– Under utilised 1.07ha* site

For Sale by Expressions of Interest Closing Thursday 3 October 2019 at 4pm.

– Medium Impact Industry Zoning

View Now

– High exposure Kunda Park location – High quality 1,175sqm* office/administration building – Caretaker’s residence – Parking for 55 vehicles – Potential for additional development (STCA) – Suit owner occupier or developer – Monitored automated security gates – Minutes to SunCentral CBD and Bruce Highway

For more information or to arrange an inspection please contact Ben Flower - 0488 773 033.

* Approx

colliers.com.au

QUEENSL AND LISTINGS

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FOR SALE

APPROVED RESIDENTIAL DEVELOPMENT SITE 134 – 144 IRENE STREET, MOOROOBOOL, CAIRNS (Directly opposite the entry to City View Estate)

This is a great site, well positioned on a hillside.

Excellent frontage surrounded by good quality estates and developments. Council approvals in place. + 55 units or potential 20 lot subdivision + Prestige location, elevated site + Mutiple building options + RPD: Lot 14 on NR7946 CTR: 21544174 + LAND AREA: 13110m2 + Potential for 17 - 20 Lot subdivision with Council Approval + Dimensions: 125m frontage x 100m depth approximately + Zoning: Residential 2

DANNY BETROS 0418 772 049 property.cbre.com.au

VIEW LISTING

THE PROPERT Y DE VELOPMENT RE VIE W

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A rare opportunity to secure one of the best boutique developments sites in Queensland.

AN IRREPLACEABLE TROPHY POSITION ELEVATED AT RAINBOW BAY ON THE GOLD COAST. THE SITE IS ZONED FOR A STUNNING APARTMENT PROJECT IN A HIGHLY SOUGHT AFTER LOCATION.

– A rectangle shape, corner position, – Panoramic ocean and coastal views at the southern tip of Queensland ‘Snapper Rocks’.

– Considered one of the most iconic locations in Queensland with world class surf breaks, beaches and lifestyle at your door step.

– Demand for boutique luxury apartments in the area is high and supply is at a minimum, making this a genuine opportunity not to be missed.

CONTACT AGENT ANTONIO MERCURI – 0434 629 521

VIEW LISTING

QUEENSL AND LISTINGS

58

For Sale: $1,135,000 1 River Hills Road, Eagleby QLD 4207 APPROVED PROMINENT HIGHWAY FRONTAGE 3,011SQM PROPERTY Savills are delighted to present the opportunity to purchase 1 River Hills Road, the final stage of The Exit 34 Travel Centre M1.

– – –

3,011sq m approved development site 91-metre frontage to M1 Pacific Highway Exposure to over 57,000,000 vehicles* PA

Robert Dunne 0418 888 840

Will Carman 0477 666 355

More Exposure More Competition Record Prices

VIEW LISTING

For Sale: Seagulls Resort Townsville 74 The Esplanade, Belgian Gardens QLD 4810 TOWNSVILLE WATERFRONT RESORT WITH EXCEPTIONAL EXPANSION AND DEVELOPMENT OPPORTUNITIES – – –

Large 1.3ha (Approx) Site 4 Star Resort, 69 Rooms Potential for expansion

For Sale by way of Expressions of Interest closing Wednesday, 9 October 2019

Tim Packman 0431 470 873

Max Cooper 0431 776 167

More Exposure More Competition Record Prices

VIEW LISTING

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FOR SALE: 1041 Wynnum Rd, 1045 Wynnum Rd & 67 Ludwick St, Cannon Hill, QLD, 4170

BOUTIQUE DEVELOPMENT SITE APPROXIMATELY 5KM EAST OF BRISBANE CBD

• Land Area approximately 2,325sqm • Three properties • Two street frontage • Wynnum Road frontage approximately 50m • Z oned QPP-DC1 - District centre with neighbouring properties 5 levels • S hort walk to park and various recreational facilities

This property presents a tremendous opportunity for a developer to combine commercial / retail with residential subject to Brisbane City Council approval.

CONTACT Chris Chapman 0408 750 838

• O pposite East Village, a master planned urban village and lifestyle precinct • C lose to Cannon Hill Shopping Centre featuring Bunnings and Aldi • S hort drive to Gateway Motorway connecting to Airport, Sunshine and Gold Coast

CLICK TO VIEW LISTING

QUEENSL AND LISTINGS

60

VIEW LISTING

Lot 195 Gatton Helidon Road, Carpendale 4344 QLD 79.45 HA* AGRIBUSINESS SITE – BULK WATER!

Dominic McSweeney – 0410 255 811 Matthew Richards – 0413 716 557

The property affords a truly unique opportunity within its class, given the broad scope of potential uses and distribution channels into local and international markets via the surrounding logistics infrastructure.

Offering a high yielding opportunity, with limited directly comparable competition and offers excellent growth potential through further development of the site.

• Zoned Rural Agricultural and Rural General.

• 4 titles of high yield cropping and intensive agribusiness potential on Lockyer Creek † • Potential estimated water capacity of 2,500 – 7,500 Ml # p.a. (Storage + Bores + Water Licences) • Located 60mins* to Brisbane CBD; 25mins* to Toowoomba CBD and 45mins* to Toowoomba Wellcamp International Airport # hypothetical estimate subject to report confirmation * approximately † STCA

THE PROPERT Y DE VELOPMENT RE VIE W

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STATE SPOTLIGHT

62

STATE SPOTLIGHT: SOUTH AUSTRALIA

Suburb Report: Somerton Park

South Australia Auction Schedule

Hines Wins Approval for Micro Hotel

South Australia Listings

Content by: Jack M. Gaffney

THE PROPERT Y DE VELOPMENT RE VIE W

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Suburb Report: Somerton Park It’s been referred to as Adelaide’s “little slice of paradise”, and after diving into this beachside neighbourhood, we think we agree.

Somerton Park is a quiet and peaceful suburb just south of the culturally vibrant Glenelg; being within walking distance, it’s close enough to be amongst it, but far enough away that ‘quaint’ and ‘peaceful’ are the primary adjectives to describe it. Emerging families, single professionals, older families, retirees and tourists – you’ll find them all on the foreshore strolling from dawn until dusk – domesticated quadrupeds at their side, of course.

RESIDENTS The population as of the 2016 Census for Somerton Park was 5,537; this is only marginally higher than the 5,388 recorded in 2011, however most of the development action has been within the last two years.

The median age of 46 is also noticeably higher than that of the state, 40, and Australia, 38. This stems from a mix of older and emerging families in the area; 27.2% of residents are between the ages of 50 and 70.

Interestingly, while 36.4% of homes are occupied by just one person, only 9.7% of homes are one bedroom. There exists significant opportunity for subdivision or for changing existing dwelling structures.

→ Arvia.

Image: Supplied by the Developer

CULTURE

SIGNIFICANT PROJECTS

Being situated just a short drive to the city, and having one of Adelaide’s most prominent beaches on the doorstep, makes this a very popular place for establishing a family residence.

The area is also supported by a strong number of quality schools, such as Sacred Heart College and Brighton Secondary School. Weekends are spent by the beach, or perusing the nearby shopping precincts, with Jetty Road Glenelg and Jetty Road Brighton easily accessible on foot, and the Marion Shopping Centre just a 5-minute drive.

ARVIA: This luxury, triple-tired beachfront development, brings three large modern apartments to the neighbourhood. Each home occupies its own level, and presents three bedrooms, two and a half bathrooms, a beachfront balcony and entertainer’s kitchen, dual living areas, a large study and two car parks. Other amenities catered for include a large island bench facing the ocean, a generously sized butler’s pantry hidden from view and a full range of Miele appliances.

PRICE HOUSES: Consistently climbing over the past seven years, the median house price in Somerton Park is $880,000, as of 4 September 2019. In June 2016, the median price was $650,000. Weekly median advertised rent is $450.

UNITS: The median unit price as of 4 September 2019 is $356,250. Units have also been enjoying a relatively upward trend since 2012. Weekly median advertised rent is $310.

STATE NE WS

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HINES WINS APPROVAL FOR MICRO HOTEL Content Supplied by:

South Australian developer Hines Property has received planning approval for a $55 million micro-hotel, set to be Adelaide’s first.

If realised, the hotel would comprise a frontage less than 8 metres smaller than the Ibis Adelaide, on the corner of Twin and Grenfell Streets, which on a slightly smaller block has a frontage of 15 metres.

The 274 North Terrace hotel, located on the corner of Frome Street in central Adelaide, will offer 253 highend compact rooms ranging in size from 13 square metres to 28 square metres, designed for short-stay visitors and millennial travellers.

The 15-storey development, to be constructed on the site of an existing car park on Adelaide’s North Terrace, will be located opposite the former Royal Adelaide Hospital site, known as Lot Fourteen, which the state government plans to redevelop into a “creation and innovation neighbourhood”.

Micro hotels – popular in Europe, Asia and the United States – are affordable, minimalist and compact without sacrificing style.

“The micro-hotel trend is booming in cities across the globe, so we’re bringing the concept to Adelaide which is really exciting,” Hines Property managing director James Hines said.

“Micro-hotels are perfect for people who want a quality place to stay and are happy to trade excess room space for a lower room cost.

Hines has 15 years of experience developing and owning hotels like the Ibis Adelaide Hotel and Pullman Adelaide, which has made Hines Property the largest private owner of hotels in the city, as well as CBD apartments.

The 274 North Terrace development is set to bolster its hotel development portfolio to more than 1,000 hotel rooms.

The hotel is one of a number of hotel projects slated for central Adelaide including a 28-storey hotel to be operated by Hyatt and developed by Singaporean property developer Chip Eng Seng in the CBD, a 25-storey

→ Image: The Urban Developer

$180 million QT hotel on Currie Street and a $330 million expansion of the Adelaide Casino.

Construction of the 274 North Terrace hotel is anticipated to commence next year ahead of opening in 2021.

Hines said a worldwide search is already under way to select an operator for the hotel.

AUCTION & EOI SCHEDULE

65

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.

Lot 2 Douglas Drive

Munno Para

For Sale

$220/sqm plus GST

JLL

View

Lot 64 Kennett Road

Murray Bridge

EOI

Thu 17.10.19 @4pm

Knight Frank

View

Portion Lot 80 Mawson Road

Salisbury

EOI

Thu 26.09.19 @4pm

McGees

View

483 North East Road

Hillcrest

EOI

Fri 27.09.19 @4pm

McGees

View

315 Belair Road

Lynton

For Sale

$1,550,000 plus GST

McGees

View

Lot 2 Ryde Street

Evanston

For Sale

$3,300,000 plus GST

McGees

View

Edinburgh Road

Direk

For Sale

Contact Agent

Leedwell

View

996 Port Road

Albert Park

For Sale

Contact Agent

Leedwell

View

Lot 555 Hanson Road

Wingfield

For Sale

$1,249,500 Excl. GST

Leedwell

View

12 Dean Street

Gawler West

For Sale

Contact Agent

Leedwell

View

SOU TH AUSTR ALIA LISTINGS

66

Connecting people & property, perfectly.

Murray Bridge Township Murray Bridge River Murray

Speedway

Greyhound Track

Showgrounds

32.50 HA*

Lot 64 Kennett Road, Murray Bridge SA. For Sale by Expressions of Interest closing Thursday, 17 October at 4pm (ACST).

Substantial Development/Subdivision Opportunity Why Murray Bridge?

Suited to a ride range of recreational uses (stcc)

Infill site amongst popular amusement venues View Listing

Zoned Recreation, Commercial & Light Industry

Sweeping river & township views

Adjacent to Old Princes Highway

The below examples total some of the $1 billion of major infrastructure expenditure encouraging a total of some 5,000 jobs (part & full time) who will potentially need to be accommodated in and around the Murray Bridge township.

•

Ongoing development of the $200m The Bend Motorsport Park

•

$300m reconstruction of Thomas Food’s meat processing plant, creating 2,000* jobs

•

$350m Renewable Energy Systems solar farm & storage battery

Tony Ricketts 0418 827 911 Garry Partington 0418 845 973

*Approx.

Large site 32.50 hectares*

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Vicinity Industrial Base – Edinburgh Road, Direk SA

Industrial Land for Sale

Serviced, Level & Ready to Build On ▪ Level 3 B-Triple road train access ▪ 2km from Port Wakefield Road and the Northern Connector ▪ Lot sizes from 4,000sqm - 20ha

Henry Treloar 0412 404 426 henry.treloar@leedwell.com.au

Steve Smith 0410 532 022 steve.smith@leedwell.com.au

996 Port Road, Albert Park SA

Prime Corner Position with Huge Exposure!

▪ Large corner site of 1,525sqm ▪ Extensive 3 street frontage ▪ Huge development potential Kris Antczak 0422 118 353 kris.antczak@leedwell.com.au

Prominent Industrial Development Site

Lot 555 Hanson Road, Wingfield SA

▪ Zoned - Industry ▪ 130m frontage to Hanson Rd ▪ Road train + B-double accessible ▪ All genuine offers will be considered VIEW LISTING

Jamie Forwood 0450 959 032 jamie.forwood@leedwell.com.au

12 Dean Street, Gawler West SA

Residential Development Site ▪ Development Plan Consent for three two storey buildings comprising a total of 30 residences

▪ Site area of 5,869sqm ▪ For genuine sale!

Andrew Zammit Kris Antczak 0417 814 398 0422 118 353 andrew.zammit@leedwell.com.au kris.antczak@leedwell.com.au

Adelaide - 136 Greenhill Road, Unley Melbourne - 3/534 Church Street, Cremorne

Henry Treloar 0412 404 426 henry.treloar@leedwell.com.au

08 8212 8880 03 9089 6688

www.leedwell.com.au info@leedwell.com.au

Whilst all information, figures and dimensions included in this brochure are estimated and as accurate as provided, also by other sources, they are indicative only and prepared in good faith. All measurements are approximate. RLA 222531

SOU TH AUSTR ALIA LISTINGS

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sale

Infill Development Opportunity

Portion Lot 801 Mawson Rd, Salisbury, S.A. Substantial site of 2,260 sqm* Two street frontages – Mawson Road and Brown Terrace Close proximity to John Street and Park Terrace and new Aldi supermarket development Subdivision to be undertaken by Purchaser Zoned Urban Core (Salisbury)

Expressions of Interest close Thursday 26 September at 4pm Outline indicative only

Details: James Juers 0438 442 909, Chet Al 0413 104 002

VIEW LISTING

sale

Slam Dunk Island Site

483 North East Road, Hillcrest, S.A. Island site of 9,351 sqm* 4 street frontages Former Hillcrest Basketball Stadium Offered with vacant possession Zoned Commercial & Residential – City of Port Adelaide Enfield

Expressions of Interest close Friday 27 September at 4pm Outline indicative only

Details: James Juers 0438 442 909, Simon Lambert 0408 846 999

VIEW LISTING

sale

Divide or Develop

315 Belair Road, Lynton, S.A. Elevated development site of 6,711 sqm*

6,711 sqm

*

Cleared ready for development Incredible uninterrupted views over the city and coast Build your dream home or subdivide

o

ir R

la Be

ad

Previous DA for 6 allotments from 702 sqm* to 1,183 sqm* For Sale $1,550,000 plus GST Outline indicative only

Details: James Juers 0438 442 909, Simon Lambert 0408 846 999

VIEW LISTING

sale

Fantastic Residential Development Site Lot 2 Ryde Street, Evanston, S.A. 6.98 Hectare* vacant site Jack

Surrounded by residential living

Coo

e St

rive

reet

per D

Ryd

Located 48 kms* north of the Adelaide CBD Situated only minutes from the Gawler Town Centre Zoned Residential by the Town of Gawler For Sale $3,300,000 plus GST

Outline indicative only

60 WAYMOUTH STREET, ADELAIDE Outline indicative only RLA1722 *approx

Details: Fred Ettorre 0413 445 915

VIEW LISTING

08 8414 7800

www.adl.mcgees.com.au

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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

STATE SPOTLIGHT

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STATE SPOTLIGHT: WESTERN AUSTRALIA

Suburb Report: Subiaco

Western Australia Auction Schedule

Canute Retires $140m Cross-Country Portfolio

Western Australia Listings

Content by: Jack M. Gaffney

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Suburb Report: Cottesloe Beautiful Cottesloe, as it’s more often referred to, is a beach-centric western suburb of Perth, about a 20-minute drive from the CBD. Praised for its ocean-frontage and relaxed disposition, Cottesloe is the premier location for those who want their lifestyle served with a mix of business and pleasure.

Off the beach, the sandy streets are lined by Norfolk Island pines and decorated by stunning Victorian and Edwardian homes on modest. Central to most of Perth’s happenings, nowhere feels too far away – but when the beaches look this inviting, nowhere else really matters.

CULTURE

SIGNIFICANT PROJECTS

With one of Perth’s most celebrated beaches on the door step, and the city centres of Perth and Fremantle a short drive away, a Cottesloe home is one of the envies of the west coast.

The beach stretches out for around 1.5 km and through summer you’ll find just about everyone vying for a slice.

Two local primary schools, one high school, a railway station, shopping centre, various public parks, a golf club and a tennis centre, are just some of the holistic lifestyle amenities that fill out this well-rounded community. Life is to be enjoyed.

INDIANA TEAROOMS: Mining magnate Andrew Forrest has recently purchased the iconic Indiana Tearooms on Cottesloe Beach, with plans for a major rejuvenation. Two finalists have been selected, with jury and community support, and the final proposals have been submitted; a winner will be declared in October 2019.

Both finalist designs incorporate social spaces, various designations for hospitality ventures, public swimming pools and viewing terraces.

The architecture firms responsible for the designs include; Durbach Block Jaggers Architects (with OHLO Studio and ASPECT Studios) and Kerry Hill Architects.

RESIDENTS PRICE Between the 2011 and 2016 Censuses Cottesloe’s population was stagnant, recording 7,375 residents in 2016. The median age sits relatively higher than the state, at 42 compared to 36.

Predominantly comprised of well-to-do mature families, professional couples and individuals, Cottesloe’s high demand has translated into the residential precinct being regarded as one of Perth’s priciest.

One-bedroom apartments are among the rarest of finds through the neighbourhood, taking around 5% of total dwelling structure.

Over 70% of dwellings have three or more bedrooms.

→ Indiana Tearooms.

Image: Kerry Hill Architects and Durbach Block Jaggers Architects

HOUSES: As of 4 September 2019, the median house price in Cottesloe was $2 million.

While this is lower than its $2.2 million peak in mid-2018, it is still well above its $1.7 million median price from 2016. Weekly median advertised rent is $850.

UNITS: As of 4 September 2019, the median unit price is $700,000. For apartments that offer three or more bedrooms however, this number jumps up $2.25 million (three-bedroom houses have a median house price of $2.28 million). Opportunities can be found in both high-end one-bedroom units and large multi-bedroom luxury apartments. Weekly median advertised rent is $428.

STATE NE WS

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CANUTE RETIRES $140M CROSSCOUNTRY PORTFOLIO Content Supplied by:

Family-owned Canute Investments Limited has listed a range of properties in Queensland and Western Australia for $140 million citing retirement as the reason for the divestments.

The assets include three fully-leased neighbourhood shopping centres – Logan Village shopping centre and Ormeau Village in Queensland as well as Carramar Village in WA – a commercial building in Perth, and an 84 property residential portfolio in WA.

The 4,700sq m Woolworths Ormeau is located 35 kilometres north-west of Surfers Paradise. It comprises a Woolworths supermarket and six specialty stores and sits on an 8,607sq m site.

Logan Village, also with a Woolworths Supermarket, is 48 kilometres south-west of Brisbane and sits on a 1.2-hectare site.

Both centres are currently on separate 20-year leases drawing fully leased net incomes of $926,000 a year for Logan Village and $1,715,000 a year for Ormeau Village.

The 5,294sqm Carramar Village shopping centre, in Perth's northern suburbs, is anchored by a Woolworths supermarket and has parking for 300 vehicles. It has a fully-leased net income of $2,050,000.

The WA residential portfolio comprises 84 residential properties, featuring a fully-leased gross income of $1,536,000 – all available in one-line and alongside an aligned property management business.

Canute’s 2,591sqm office building at 13-15 Rheola Street in West Perth offers medium-term redevelopment opportunity and a fully-leased net income of $975,400 per annum.

CBRE's Richard Cash, Anthony Del Borrello, Ben Younger and Derek Barlow have been appointed to market the WA assets while Joe Tynan and Michael Hedger have been appointed to market the Queensland shopping centres.

“These market conditions, combined with the compelling investment fundamentals of these properties, are expected to ignite interest from local WA investors, national groups and offshore parties,” Cash said.

Hedger said the Queensland shopping centres, with

→ Image: The Urban Developer

long weighted average lease expiries of more than 12 years each, offered potential investors good income security.

“Both investment opportunities are located in two of Brisbane’s highest-growth residential corridors, which are expected to see double digit growth within their respective main trade areas while also allowing opportunity for development and expansion.”

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.

141 Wellington Street

East Perth

EOI

Mon 21.10.19 @2pm

CBRE & Stonebridge

View

33 South Terrace

Fremantle

EOI

Thu 17.10.19 @2pm

Savills

View

2-8 Colin Grove

West Perth

EOI

Thu 10.10.19 @3pm

Knight Frank

View

Lot 60 Centre Road

Camillo

Offers Invited

Wed 25.09.19 @4pm

CBRE

View

62-72 Queen Victoria Street

Fremantle

Offers Invited

Contact Agent

CBRE

View

24 Leura Street

Nedlands

Offers Invited

Thu 03.10.19 @2pm

LJ Hooker Commercial

View

23 Charles Street

South Perth

For Sale

$1,825,000 + GST

LJ Hooker Commercial

View

224-226 Anstey Road

Forrestdale

For Sale

Offers Invited

LJ Hooker Commercial

View

WESTERN AUSTR ALIA LISTINGS

74

FOR SALE

T H E NAT IONA L D E V E LO P M E N T

S I T E

P O R T F O L I O

ON BEHALF OF

1 high quality WA site for sale as part of a national portfolio of 25 sites to be sold separately, in groups or in-one-line 2,069sqm*

141 Wellington Street, Perth, WA Situated on a significant 2,069sqm* land parcel, the property boasts park facing views to Wellington Square plus immediate access to the Perth CBD. Surrounded by a number of developments, there is excellent precedent for high-density development near the property making for an outstanding development opportunity.

HILL STREET

WELLINGTON STREET

48m*

2,069sqm*

Perth CBD (950m*)

Royal Perth Hospital (250m*)

40m*

HIL

L S T

RE

W

ET

EL

LI

N

G

TO

N

ST

RE

ET

Wellington Reserve

*Approximately. Outlines indicative only.

Lincoln Blackledge

Mark Wizel

Julian White

lblackledge@stonebridge.com.au +61 408 780 772

mark.wizel@cbre.com.au +61 411 694 756

julian.white@cbre.com.au +61 422 764 137

Richard Cash richard.cash@cbre.com.au +61 412 006 949

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FOR SALE

1.44 HECTARE RESIDENTIAL DEVELOPMENT SITE

RESIDENTIAL URBAN INFILL SITE WA, Camillo: Lot 60 Centre Road VIEW LISTING

+ An exceptional 1.4392ha* rectangular land parcel in Perth’s South-East corridor + Zoned Residential R15/40 + Potential for 52 dwellings (STCA) + The City of Armadale TPS No.4 provides for a range of ‘permitted’ uses including residential, aged care, child care, medical & mixed use residential development + Only 800m* from Kelmscott Train Station + Close proximity to full range of existing amenities including retail, commercial, health and medical, schools and high frequency public transport networks + Close to world class Champion Lakes Regatta Centre sports precint

OFFERS TO PURCHASE INVITED CLOSE 25TH SEPTEMBER 4PM AWST BEN YOUNGER 0410 533 679

MICHAEL MILNE 0403 466 603

*approx

FOR SALE

TRANSFORMATIONAL SITE – FREMANTLE HARBOUR WA, Fremantle: 62-72 Queen Victoria Street VIEW LISTING

PANORAMIC HARBOUR VIEWS HIGH DENSITY DEVELOPMENT + Northern gateway entrance to Fremantle’s city centre and waterfront precincts + Exceptional footprint for large scale and high rise development projects + Lead corner, elevated land parcel of 7,594sqm* (Subject to 1,310sqm* site acquisition) + Breathtaking active Fremantle Harbour and Indian Ocean coastal aspects + Directly adjacent to award winning Heirloom Apartments waterfront project + Favourable planning scheme provides for versatile use and high-rise development + Ideal location for a blend of retail, hotel and mixed use residential apartments + Residual lease to leading Holden dealership until strategic relocation

UNDER OPTION

OFFERS TO PURCHASE INVITED CONTACT EXCLUSIVE CBRE SELLING AGENTS

FOR SALE

BEN YOUNGER 0410 533 679

MICHAEL MILNE 0403 466 603

Outline Indicative Only

*approx

WESTERN AUSTR ALIA LISTINGS

76

For Sale: 33 South Terrace, Fremantle, WA 6160 The Monk Craft Brewery & Kitchen - A Fremantle Icon

33 South Terrace is located in the heart of Fremantle’s cafe’ strip, the renowned South Terrace. The property is 75m from the Fremantle Markets, 500m from the Fremantle Boat Harbour and 550m from the Fremantle Train Station.

– – – –

Striking three level building comprising 1,824sq m*, plus outdoor areas on a 923sq m* site Located in the heart of Fremantle’s entertainment strip Leased until April 2020 with three five year options Fantastic investment, reposition or redevelopment opportunity

For Sale by Expressions of Interest closing 2pm (AWST) 17 October 2019 Barney Dear 0437 761 029

Nick Charlton 0467 399 681

More Exposure More Competition Record Prices

*Approximate

VIEW LISTING

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WESTERN AUSTR ALIA LISTINGS

78

Connecting people & property, perfectly.

2-8 Colin Grove, West Perth WA. For Sale by Expressions of Interest closing Thursday, 10 October at 3pm (AWST).

This unique opportunity presents purchasers with one of the largest development sites in a strategic location within West Perth.

Situated in prime West Perth Location

Opportunity for owner occupier

Holding income

Good connectivity to Perth CBD

Largest parcel within Kings Park Precinct

View Listing

Opportunity for an astute developer to secure one of the largest sites close to Kings Park Road office/residential precinct to position themselves for the next development cycle.

Tony Delich 0418 926 410

*Approx.

Land holding of 1,881sqm

THE PROPERT Y DE VELOPMENT RE VIE W

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OPINION PIECE

“IT DOESN’T MATTER WHAT BUSINESS YOU START WITH.” Content Supplied by:

SAM TARASCIO ON BUILDING AN EMPIRE

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From an outcast migrant child who arrived in Port Melbourne as five-year-old Salvatore Tarascio in 1949, to becoming an Australian billionaire, Sam Tarascio believes everyone has an interesting story to share.

← Sam Tarcasio.

Image: The Urban Developer

Today Tarascio presides over a multi-billion dollar business, but it's a long way from the early days where as new migrants to Australia he and his parents lived with two other families in a 12sqm house in Melbourne suburb Werribee on Watson Street.

Tarascio founded Salta Properties, one of Australia’s largest privately-owned companies in 1972 after spotting an opportunity – buying swampland and building a simple warehouse.

Starting in the logistics sector, Salta Properties spans the construction, commercial, residential, hotel and build-to-rent sectors.

But after almost five decades in the property game, what does Tarascio describe as one of his proudest business achievements to date? Taking that initial first step.

“The ability to convince Hoechst, a large pharmaceutical company I was working with as a sales rep, to trust me to build them a modern warehouse,” Tarascio told The Urban Developer. “Even though I had never built one in my life... It involved persuading the company secretary to put enough faith in me to go out and do it. That was quite a milestone. And the start of my business career.”

In the lead up to Urbanity ’19, we caught up with Sam Tarascio on his property development company and what continues to drive the 75-year-old businessman. You can catch him, and a host of other speakers at Urbanity, 23-24 October 2019.

The Urban Developer: What is one thing you know for sure?

Sam Tarcasio: Opportunities float past us all every day, and so it's just a matter of identifying the opportunity having the skill to be able to see it, latching onto it and take advantage of it.

I know that’s for certain it’s just a matter of constantly looking for that elusive inspiration.

TUD: And, how does this principle guide you in your approach to business?

Recognising that opportunities are endless has created a level of ambition which has seen and continues to

see me take risks and grab opportunities as soon as I identify them.

TUD: When you founded Salta Properties in 1972 did you think you’d be where you are today?

ST: I don’t think so, no. There's no way you can understand where you’re going to end up, I think what you need is the ambition to be in business and be prepared to tackle any opportunity when it presents itself.

In fact, it doesn’t even matter what business you start with. If you’ve got the ambition to be in business, and you're prepared to take the risk, you take hold of the opportunities when you see them, that’s providing that you can identify them. Growth will come naturally if you run your business well.

TUD: When you look back on your journey in property, is there one defining moment or experience you recognise as shifting its trajectory?

ST: I was a medical rep with Hoechst when I visited their warehouse in Altona, where they manufactured Polypropylene granules in 25-kilogram bags that required large warehouses for storage.

Up until that stage, I thought companies like Hoechst owned their own facilities. But their distribution warehouse, to my amazement, was offsite and rented.

It was an old asbestos sheet building with poor access and no loading canopies. And it certainly didn’t reflect the image of the multinational company they were.

It was at that point I thought the opportunity was there to offer to do something better for them, build something better, new and more functional.

I built components of it myself to save money and was determined for it to be a success. It also gave me invaluable knowledge about the process of building a property and leasing it to companies, subsequently capitalising and selling the land and the property and then using the capital to fund my next project.

This experience led to my first substantial profit being made after the land and property were sold.

OPINION PIECE

TUD: You’ve demonstrated a diversified approach to business spanning the logistics, commercial, residential and hotel sectors, most memorable project?

ST: One of the most outstanding projects, that I continue to work on, is Victoria Gardens Richmond because all the cards were stacked against us.

It was a 40,000sqm derelict industrial site only five kilometres from Melbourne CBD, but full of contamination with a large part of the site used as the local tip by people living in the area.

The common opinion was it could never be rezoned from its industrial use. The site had various issues; people were shying away from it. But it was probably the best decision I ever made to buy the land, notwithstanding the huge debt I took on.

Twenty years on Victoria Gardens is probably the biggest asset that we now have, and it continues to grow in the way we’d envisaged it would. There’s ten years of work left to bring this project to a close.

TUD: Darkest moment, or biggest professional struggle?

ST: One of the hardest moments was back in 1992 when the banks got into difficulty. All debts were being called in and property values were dropping. So, the loans they had with property developers such as me, or to anybody, for that matter, were being recalled.

I went into what they called the ‘resuscitation unit’ of the bank, which was a very difficult situation. That was because you couldn’t talk to anybody one-on-one, there were just systems and procedures that had to be adhered to. That was a very difficult and uncertain time for my business and family.

TUD: What’s your view or take on your own urban legacy?

ST: I don’t know that I have a specific view. However,

82

one of the creeds I actually live by is that I want to keep developing property that I am happy and excited to go back to, look at and be proud of, rather than a property I just made some money out of.

I think that drives the quality of property that we do, compared to those whose focus lies primarily with profit.

TUD: What are three key pieces of advice you’ve learned in business that have guided you to where you are today?

ST: One. To have the belief that you can you do anything if you put your mind to the task. Two. Be inquisitive and ask questions in the right way. Three. Understand that business is a risk and to be accepting of those risks.

Four. Keep a totally open mind that is the only way that you pick up opportunities.

TUD: And who are you looking forward to meeting at Urbanity?

ST: I’m looking forward to meeting the cross-section of people that will be attending Urbanity generally.

I’m not fussed whether they have built the biggest tower in the world or the shortest tower in the world, everyone has an interesting story.

— Over two days in October, Urbanity will bring together the leading creators of cities in the Asia Pacific to learn, connect and be inspired. Visit weareurbanity.com.au

to secure your tickets.

↙ Image: The Urban Developer

THE PROPERT Y DE VELOPMENT RE VIE W

Introducing: Local Area Experts If you’re an industry expert such as Architectural, Town Planning, Building, Financial Services or Consultant, your company brand message can now exclusively appear within every property listing in your selected suburbs.

Geographically targeting a qualified audience of investors and developers while they are actively searching for their next development project is clever marketing.

Talk to us today about how Development Ready’s Local Area Experts platform can really boost your Company’s marketing program.

CONTACT Ted Lloyd Tel: 0408 276 103 ted@developmentready.com.au

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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)

CONTACT:

Development Ready Pty Ltd Level 1, 167-169 Buckhurst Street, South Melbourne VIC 3205 Tel. 03 9631 5476 ADVERTISING ENQUIRIES:

enquiries@developmentready.com.au EDITORIAL:

editor@developmentready.com.au

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THE PROPERT Y DE VELOPMENT RE VIE W

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THE IDEAL SITE TO FIND THE IDEAL SITE

Namuste essitatiae nos aute

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

developmentready.com.au developmentready.com.au

LESS SEARCHING. MORE DEVELOPING.

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