Issue #17 | The Property Development Review

#17

October/November 2020

The Interviews: Adrian Pozzo Michael Drapac Craig Carracher Around The Country: Market Moves National Site Listings

Media Kit Looking for a commercial 2020 – 2021 investment property?

Search on CommercialReady

Visit commercialready.com.au for more info.

Inside Issue #16

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From the CEO

Welcome to the Latest issue of The Property Development Review.

According to the New York Times “The Chinese economy surged by 4.9% in the last quarter compared to the same time last year. This shows that a fast rebound is possible when the coronavirus is brought firmly under control.”

Our group’s market performance expectation is extremely optimistic for the lead-up period to Christmas. Despite COVID’s impact, CoreLogic’s current national property index indicates an overall positive 3.97% year on year.

As a result of commercial inspections being restated, listing quantities for Victoria are expected to be buoyant for November with other key markets anticipated to maintain their current volume flow.

3 Former REA Group Staffers Join Ready Media Group.

The Interview: Adrian Pozzo, Cbus Property

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It gives us great pleasure to welcome 3 highly experienced and well respected former REA staffers to our Ready Media Group team. Jake Ragkousis from Queensland, Damien Soltan from Victoria and Michael Arcobelli from South Australia. Many of you will know one of or several of this trio – their addition will certainly enhance Ready Media Group’s team.

READY-PAY Has Just Launched.

Ready-Pay is a new ‘Buy Now, Pay Later’ credit solution for funding a vendor’s entire advertising/marketing campaign. Allowing instant access of up to $50K of marketing funds vendors aren’t confronted with an upfront payment if they don’t have the necessary funds available at the time. Additionally, Ready-Pay allows your vendor to go market sooner and maximise their opportunity of securing the best possible deal. Approval process is quick and easy. Check-out ready-pay.com.au CommercialReady Is Impacting Strongly.

You Asked for Reasons to Sell Elsewhere.

We Listened.

The Interview: Michael Drapac, Drapac Capital Partners

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Media Kit 2020 – 2021

Our new CommercialReady website is currently starring! With 3,000 plus national listings in addition to the recent addition of Properties for Lease, we are predicting a shifting of the online landscape.

CommercialReady is purpose built for commercial property marketing agents – check it out for yourself.

3 Industry Leading Interviews: Adrian Pozzo – CEO, Cbus Property.

As CEO for just shy of 12 years, Adrian has seen how rapidly Australia’s property sector can evolve and how abundant value there is to be gained if you’re strategic and aware of the market environment.

Craig Carracher, Co-Founder Scape.

Read and listen to Craig’s fascinating journey from delivering pizzas to working for Kerry Packer. As a world authority in the Purpose Built Student Accommodation sector, his insights and knowledge are just brilliant.

Michael Drapac - Founder & Chairman Drapac Capital Partners.

With over four decades of international experience, Michael’s knowledge and experience is unparalleled. Rob Langton spoke with Michael about his unique journey to becoming one of the largest landholders in the US. Latest Development Site Listings & Market Moves

The Interview: Craig Carracher, Scape Australia

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As usual we feature the latest and significant development sites for sale and review the latest sold activity Australia-wide.

Enjoy the read and keep well.

Nick Materia, CEO, Ready Media Group On The Cover Adrian Pozzo Cbus Property

CommercialReady Listings All States

Design & Direction Cam Norris

Editor in Chief Rob Langton, Development Ready

Advertising Enquiries Ted Lloyd ted@ developmentready.com.au

Editor Jack Gaffney, Development Ready

Editorial Enquiries editor@ developmentready.com.au

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

Market Moves

VIC

In spite of heavy restrictions halting many inspections, Melbourne continued to trade solidly with a number of positive results for endors in the inner and outer rings.

Down in Melbourne’s south east, a low-density housing estate site sold to MAB Corporation for $37.5 million. Located in Devon Meadows, around eight kilometres south east of Cranbourne, the 32-hectare parcel is set to be transformed into a master-planned, 500 lot community. The vendor originally paid $55 million in 2018 as part of a 42.3 Ha amalgamation comprising 10 properties, offloaded by nine vendors.

Closer to the CBD, within proximity of St Kilda Junction, a 1.1-acre mixed-use development site traded hands from Jewish Care Victoria to local developer Goldfields Group for a speculated $35 million. The 4,293sqm asset sits on the south west corner of Punt Road and Raleigh Street in Windsor, and was marketed as ‘South Boulevard’, a mixed-use but predominantly residential development opportunity. The incoming owners are expected to construct about 260 dwellings as part of a bigger project.

A development site in Mulgrave traded hands from Pong Property Development Pty Ltd to a private Chinese syndicate for $11.5 million following an off-market campaign.

The 16,692sqm site, located at 149 Hansworth Street, was sold with a permit for two residential towers and 30 townhouses.

Over in Melbourne’s north, a private developer successfully negotiated a sale off market to secure a corner development site, comprising of four lots at 1 Biodiversity Boulevard, 9 Biodiversity Boulevard, 46 McKellar Way and 54 McKellar Way in Epping, for $11 million.

The property covers a total of 3.61 hectares and presents three street frontages. The site was previously sold in 2016 and has accrued a 42% increase in value over the four-year period.

Then in the inner-north, we saw a local developer pick up the freehold of luxury skincare brand Aesop’s headquarters, 25 Smith Street in Fitzroy, with sources indicating that the settlement price was around $9,500sqm on the land, or just north of $7.8 million.

Market Moves: Around the Country 02

Image: 14 Strattan Street, Newstead - courtesy Rothelowman

NSW

In one of the state’s most significant office deals of late, the Pinnacle Office Park, a modern and near fully occupied commercial investment in Sydney’s north west, was recently scooped up by Keppel REIT for $306 million. Located in Macquarie Park the complex houses

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two mid-rise, A-grade offices and a smaller subsidiary building with development upside.

The assets contain 35,132sqm of NLA and was sold 96.3% occupied.

Over close to the nation’s capital, where supermarket-anchored malls continue to prove a hot ticket, the Riverside Plaza in Queanbeyan traded from a wholesale fund run by Vicinity Centres to real estate fund manager Elanor Investors Group for $60 million. The purchase joins a string of new purchases by the incoming owners, who maintain a strategy of securing and repositioning town centre retail real estate.

The Riverside Plaza will see a vacant Target tenancy updated for medical and health uses, with other non-core surplus land set to be updated as well.

Back over seaside, about halfway between Newcastle and the Central Coast, and the Swansea Hotel recently transferred ownership seeing Laundy Hotels secure $20 million (speculated) from North Coast-based Hunter Group Holdings for the asset. The pub was originally purchased by the Laundy family, the nation’s largest private hotel owner, in 2016 for $13 million.

Development group Fortis recently secured a new Double Bay heritage site, this time located at 2A Cooper Street, for circa $20 million.

The property is home to Gaden House, a modernist masterpiece by renowned architect

Neville Guzman, which is set to undergo a $6.5 million upgrade and refurbishment. Prominent heritage elements such as the facade, concrete staircase, metal clad louvres, terrazzo podium and feature lighting circles will be restored, whilst bringing the existing building up to current compliance.

QLD

In Brisbane’s inner-north, an office development currently in construction transacted twice within the same day, eventually settling to Charter Hall Social Infrastructure REIT (CQE) for $122.495 million. Original vendors, Silverstone Developments, agreed to sell the site to Mater Misericordiae Limited, who then sold the asset with a leaseback to the Charter Hall REIT. Located at 14 Strattan Street in Newstead, the 11-storey, A-grade workplace encompasses 9,088sqm of NLA and will become Mater’s headquarters. The not-forprofit organisation will be responsible for the building’s fit out, set for completion mid-next year, with the lease signed until 2031, with two five-year options.

Staying with the capital’s inner circle, The Fantauzzo Brisbane – Art Series Hotel has been picked up by Ghassan Aboud’s Crystalbrook Collection for a speculated $75 million.

Situated beneath Brisbane’s iconic Story Bridge, overlooking the Howard Smith Wharves, the new contemporary hotel features 166 rooms and suites, the renowned Italian Polpetta kitchen and bar, the elevated Fiume bar along with a rooftop pool, fitness centre and meeting spaces.

A cold storage shed on the Gold Coast is the latest acquisition by industrial property landlord Centuria Industrial REIT (CIP), taking its total purchases for the current financial year past the $500 million mark. Transacting for $43 million, the 2.1 hectare property encompasses a 9,554sqm located at 1 Lahrs Road in Ormeau – within the Yatala Enterprise Area – and is leased to Competitive Foods Australia group with 6.5 years remaining.

The vendor, logistics firm ESR Australia, originally purchased the property for $29 million back in 2015.

Sales around the $40 million mark continued to hit the sweet spot, this time with Building 1 in the Acuity Business Park in Robina on the Gold Coast pre-selling for $41.3 million.

Developer Alceon secured a private investor for the 6,050sqm, four-storey building, which is already leased to home builder Metricon (about 75%) and CBRE, who claim the balance and Building 2 within the same park.

AROUND THE NATION Up in the Northern Territory, and the Bakewell Shopping Centre near Darwin has traded hands from Woolworths to ASX-listed mall landlord SCA Property Group for $33 million.

The 6,407sqm neighbourhood shopping centre, located in Palmerston, is anchored by Woolworths and BWS, with an additional 10 specialty tenants included too.

Staying in Darwin and the Parap Tavern, located at 15 Parap Road in Parap and formerly owned for 70 years by the Dowling Family, has been picked up by a Charter Hall managed Long WALE Investment Partnership (LWIP) for $19.7 million. The hotel was sold fully leased to the Woolworths backed ALH Group on a lease for 14 further years; with options until 2084.

Heading over to the west coast, where a distribution centre in Canning Vale traded hands from Sentinel Property Group to Mair Property Funds for $12.41 million.

Currently leased to Timberlink (who have recently renewed for 11 more years), 13 Modal Crescent was originally purchased by the vendors in 2017 for $10.1 million.

A private owner operator has also traded the Cockburn Central Self Storage centre to

Abacus Property Group for $8.6 million.

Located at 854 North Lake Rd in Cockburn Central, around eight kilometres south of Fremantle, the modern storage facility offers around 500 units spanning an enclosed storage area of around 5,000sqm.

A private Sydney investor travelled from east to west to secure an investment site at 19 Welwyn Avenue in Manning, in Perth’s inner-south, for $2.025 million. The asset, located at 19 Welwyn Avenue in Manning, came with a 201sqm building and was sold leased to Woolworths (operating as BWS) on a five-year lease with five options of five years each.

And finally in South Australia, two innerAdelaide development sites, in Forestville and Prospect, have been divested by German retailer Kaufland and snapped up by Renewal SA, a government arm which intends to transform the spaces into residential and mixed-use communities. The two sites were part of a portfolio of nine listed by Kaufland in February. Plans by Renewal SA indicate that around 482 dwellings will enter the fold, with around 30% allocated for affordable/ social housing. Retail and commercial product spaces have been included as well.

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The Interview: Adrian Pozzo

Adrian Pozzo Adrian Pozzo, CEO of Cbus Property, talks about the most interesting year in property development history.

“

I think the property development market has always been a bit of roller coaster – but this year has certainly been the most interesting.

”

Adrian Pozzo is the Chief Executive Officer of Cbus Property, a position that he has held for just shy of 12 years. Adrian has always had a keen interest in property and construction, so after training as an accountant, he joined the Cbus team as their CFO. This was back in 2002, when there were just five employees in the building. In 2007 he was appointed CEO and since then the growth of Cbus Property has been consistent, planned and strategic.

“When I joined, the portfolio would be lucky to have scraped up to half a billion dollars in worth – now we’re looking at five billion, with a further five billion dollars in works coming on in respect to apartments and commercial developments. Where we once had just five people, we now have more than 40.”

Growing up in North Fitzroy in Melbourne, before the area received its well renowned gentrification, Adrian has seen how rapidly Australia’s property sector can evolve and how abundant value there is to be gained if you’re strategic and aware of the market environment.

In his role as CEO, Adrian is still tied to each project whilst simultaneously focusing on the bigger picture, and that means looking after Cbus Property and its members.

“Our core mandate is to maximise returns to Cbus members, and since the early days of the business, we’ve managed to return on average around 15.2%.”

The ultimate goal of the business may be to maximise the returns for its members, but this does not come at the behest of quality or through cutting corners.

“We’ll do a joint venture and we’ll work with anyone that we think is on the same wavelength. But if you’re in it to

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Image: Development Ready

Cbus Property

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make a quick buck – well that’s just not how we work.”

This ardent pride that Adrian takes in every project undertaken is reflected throughout the culture of the entire business. It also helps to explain why potential projects come across their desks “just about every day” and as Adrian reports, “even in these COVID times”.

Cbus Property is a wholly owned subsidiary of Cbus, the industry superannuation fund for the Australian construction, building and allied industries. Their property portfolio extends across the major capital cities of Australia, with a particular focus in the three dominant east coast capital markets.

Notable, high-profile projects include Collins Arch, in Melbourne. This significant build comprises of 200 luxury residential apartments as part of a high-end luxury mixeduse development incorporating the W Melbourne 5 Star luxury hotel, in addition to approximately 49,000 sqm of PCA premium grade office accommodation. The overall design aesthetics with two stunning towers bridged at the top is set to become a CBD landmark.

“Will their tenants want to work from home? Will they want to work from home, but not in their actual apartments? Is it going to be beneficial to go into development with a co-working partner? These are the sorts of questions we’re asking ourselves at the moment.” Adrian added.

“The CBD (Melbourne) is vacant though, and so it does seem as though everyone is waiting to see what the world post-COVID is like. We’re fortunate that more than 40% of our portfolio hold government backed tenants, who continue to need the space and will pay their rent.”

Ultimately when looking to the future, Adrian believes that we’re three to five years away from gaining back a true sense of normal – but this isn’t anything to shy away from.

“We’re blessed to live in one of the best countries in the world, marginally impacted by many crises when compared to the greater population of the world – so be creative and make the most of where we are. There’s opportunities around every corner.”

In Sydney, the 111 & 121 Castlereagh project, presents a luxury mixed-use development in partnership with Scentre Group. Comprising of 101 luxury residential apartments that visually appear to float above a heritage podium which is being transformed into 11,500sqm of premium-grade office space plus a 6,200sqm extension of Westfield Sydney’s luxury retail offering.

And in Brisbane, 443 Queen Street heralds a new generation of design for subtropical living, with 264 high quality residential apartments offering unprecedented views over Brisbane and back towards the city. This tower will be Brisbane’s first premium subtropical residential tower.

With a mix of major commercial and residential projects oriented around the CBD, one may have thought that the current health crisis could be cause for concern for Adrian, but this is far from the case.

“Property development is relatively simple – but COVID has jumbled things around. That’s fine, we’ll get through it. At Cbus Property, we’re hoping to get back in the office properly in 2021 – Sydney and Brisbane are already partly back.

“But the future is going to be different and we’re going to have to adapt.”

Developers across Australia are starting to re-evaluate how they design their building spaces, both residentially and commercially. A survey conducted by Knight Frank of 160 global developers from across 22 nations, including Australia, concluded that the near-term supply and longterm design of housing is set to be impacted by the current health crisis.

23' Click Play to listen to The Interview with Adrian Pozzo in full.

Interview: Rob Langton, Development Ready

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The Interview: Michael Drapac

The Unique Strategy and Success of Michael Drapac, Chairman and Founder of Drapac Capital Partners Michael Drapac has performed over 200 property deals in his lifetime and has only lost money on three of them – and the losses were arguably nominal.

Michael Drapac

Drapac Capital Partners

Since founding his eponymously named firm in 1987, Michael’s renown as a man with an acute ability to identify economic and market trends has grown and grown. As Chairman of Drapac Capital Partners, he has successfully invested and developed commercial, industrial and residential projects in Australia, Asia and has enjoyed remarkable success in the US. Michael’s reputation in the industry is formidable and has been built upon delivering consistently high returns with low risk, through an unconventional investment model and philosophy. The path that led him into the property world was equally unconventional.

“I dropped out of school as a teenager but went back to night school at the age of 27 to finish my HSC.” Michael discussed recently during an interview with DevelopmentReady’s Rob Langton.

During the decade that fell in between leaving and then returning to high school, Michael tried his hand at many different vocations. He moved from hospitality, to an electrician apprenticeship, to selling homes as a real estate agent, but it was during his time working with bookmakers at the racetrack that Michael found his pot of gold.

As was the culture of the time, if someone managed to get some money together, they invested it in property. After managing a few successful transactions, Michael realised that he had a knack for buying and selling, and while completing a Bachelor of Science, Biochemistry and Pathology at the University of Melbourne and a Masters at Deakin, he founded Drapac Capital Partners.

From there, his story is one of significant but restrained success.

A Simple and Affective Thesis “It’s not about how much money you make, it’s about your risk/ reward.”

Listening to Michael describe his thesis and ultimately the reason he has been able to achieve such incredible success, one thing is driven home time and time again.

“I don’t like taking unnecessary risk. In property everyone thinks that more is more, but often it’s not.

“You see a lot of developers around town, and they’re making a lot of money. But every time they roll the dice, they’re putting everything on the line. For me, smart property investment is about your risk/ reward profile.”

It’s a strategy that has paid off very well, particularly in Melbourne, where Michael saw a vision that few others did.

“Melbourne looked very different in the mid-early 2000s compared to now. I remember that in 2005 there was only two cranes in the sky.

Development had been strong leading up to that moment, but all of sudden, developers weren’t interested.”

Michael saw a different Melbourne to most; he saw a CBD that was depressed but with still a great future ahead of itself; others thought

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Image: Development Ready

that development was over. During this short period, Michael was very active and bought up around 10 acres in the very heart of Melbourne’s CBD well under value.

“There was a slight hiatus in the market, I don’t know why. All you had to do was have a view that Melbourne was going to grow. I paid $2,000 per metre for a site on William street. I paid $1,200 per metre on a site in the CBD that could go up 50 metres. And no one wanted it, I had no competition. It was as if no one had the vision to see what Melbourne would look like in five to ten years.”

Michael’s Five Key Things to Look For Having a vision for the future might come effortlessly for Michael, but for most it is only realised in hindsight. That being said, Michael was happy to share, during his recent interview, the five key points he always looks for when he’s thinking about buying.

“As I’ve said, I’m not interested in taking risks. If you want to look

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for zero risk, or as close to, you want to buy development sites and not pay a dollar premium for the blue sky. And make sure you buy in an area that has a really good future. Make sure the development site operates as investment, so in the case that your thesis is wrong, you’ve bought an investment. Every site I’ve ever bought, was an investment site.”

Michael’s philosophy is as follows; Number 1: It’s a good investment

Number 2: It’s a development site with blue sky or other characteristics to its benefit

Number 3: You don’t pay one dollar premium for the development potential Number 4: It has to be in an area that is depressed Number 5: It has to have a good future going forward

Taking off Overseas Michael’s tried and tested, and somewhat conservative approach to property buying and selling, is not bound by borders. In 2007 he took Drapac Capital Partners over to Japan with capital that he had raised in Australia. They started to buy and then the 2008 GFC hit.

“I’m not seduced by the idea of going overseas for the fun of it. I have a very simple formula about property and I’m always trying to find opportunities that meet my formula. But unfortunately, the GFC really impacted us.”

After just three years in Japan, Drapac Capital Partners had exited the country. In Australia, things weren’t in the best shape either.

“The GFC had a major impact on me; it was the first time in my life that I had significant debt. I had around $100 million of debt at the time and I got very nervous – so I decided to sell a lot of the sites.

I sold nearly everything. The stuff I sold, I continued to watch and ended up selling again seven to eight years later for ten times the price. It was a learning experience.”

The Australian ended up being fairly well protected by the effects of the GFC, when compared to many other nations, and so Michael’s eyes started to drift overseas. Nowhere did he find a better candidate to meet his strict property ideology, as America. In 2011, having had a similar vision to the one he experienced in 2005, Michael made the decision to sell down all of his Melbourne assets and move to Atlanta, Georgia in the USA. “When a city, which has been historically strong but at the moment is depressed and not developing, you can pick up sites for what their worth at their base value. You can buy high-rise sites for what they’re worth as a car park, or a dilapidated showroom and you don’t have to pay a premium for the blue sky.”

“In our best deal that we did in the States, we made 43 times our money – that’s ungeared. We made 43 times our purchase price in just four years.”

The Most Affordable Market in the World The sheer size of America and volume of wealth is incomparable to Australia. Michael quickly found that capital was easily available, and the appetite was insatiable. Pretty soon into his dealings, Michael was fielding calls from $300 billion investment groups trying

to buy into his firm.

“If you’re got some ability and you’ve got a track record, you can raise capital that fast, you can’t even imagine. It’s a bit harder with the banks because many of them were a bit beaten up following the GFC, but with private capital and joint venture capital… there’s enormous appetite.”

Drapac Capital Partners started buying up land in Denver, Chicago, Atlanta and Nashville. They continued through the Carolinas and went into Phoenix as well. In total the firm has transacted in 13 different states. And through all of this time, Michael has remained rigid in his more conservative strategy.

“I buy for $5,000 an acre and I sell for $20,000 an acre and I’m happy.

Sometimes I wish that I had kept the site it for a lot longer, sure, but that’s how I do my business – I buy and sell and buy and sell and I get in very early.”

Currently, Michael is not buying anything in the US, he’s just selling.

The current health crisis has definitely dampened the market, but Michael still believes that the US is the most affordable market in the western world.

“You can go and buy an affordable house in a decent suburb for $220,000 - $230,000 – New. There are 80 million millennials in the USA. There are currently more kids still living at home in their 30s than ever before. And it’s so affordable, there’s a fundamental housing deficiency, according to the Wall Street Journal, of 5-6 million. And there’s a huge deficiency of land – so the fundamentals for America are very strong. It’s a lot cheaper to buy there than it is here.”

A Shift of Equilibrium and New Opportunities The US may have his attention for the time being, but Michael is filled with anticipation for the future of Australia’s market. From his perspective, the nation is looking at some dark days ahead in the short term – something Michael sees as a good thing for someone who works in ways as he does.

“I don’t want to prey on anyone’s misfortunes, but it is in these harder economic periods that we find our greatest prospects.

“We don’t have immigration; we don’t have the students coming in; we have thousands of apartments empty; we have mortgage distress. We’re going to see a change in equilibrium and a change in confidence – suddenly it doesn’t matter how compelling a deal is, people won’t be buying.

“I think the more depressed the cities become, the more we’ll start to see opportunities in them. If we are going to have hard times, and if things play out as I think they will, there will be that many opportunities in Australia we won’t know what to do with ourselves.”

41' Click Play to listen to The Interview with Michael Drapac in full.

Interview: Rob Langton, Development Ready

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The Interview: Craig Carracher

Craig Carracher, Property Super Star & Founder of Scape, enlightens us on the Purpose Built Student Accommodation Sector

“

We realised back in 2013/2014, that the growth that had occurred in student accommodation across the UK, Canada, the USA and Japan, was coming to Australia.

It was always destined to happen, there was no justification for us not having a student accommodation solution in the education space.

Craig Carracher

Scape Australia

”

Craig Carracher co-founded Scape Australia with Stephen Gaitanos in 2013, with the vision that built-to-rent student housing was going to be a big deal. As the succeeding seven years reveal, they were right on the money, with now over 18,000 student beds in Scape’s portfolio plus plans for another 20,000 within the next 5-years.

From Attending 13 Schools To Delivering Pizza To Law Plus More!

“I ended up at about 13 primary and high schools, then went to three universities, one in Sweden, one in England and one in Australia.

I’ve moved around my whole life and with that I learnt to embrace change and, importantly, I learnt how to adapt and evolve quickly.”

Craig Carracher told DevelopmentReady during a recent interview.

To scroll through Craig’s employment history is to scroll many more times than you thought could be possible. From humble roles as a pizza deliverer and stacking shelves at Coles, Craig went on to study accounting and law at university before joining the Supreme Court of NSW and then the Federal Government at the Australian Securities and Investments Commission. Since then he’s travelled the world, founded several enterprises, is the President of Volleyball Australia and is the Director of the Australian Olympic Committee.

We have only scraped the surface of this impressive career but to dive deep into it would take innumerable pages. As such we’re going to steer you towards his early years, of which none were more formative than the four Craig spent at Minter Elison in Thailand.

“I have had a myriad of jobs and a hodgepodge of a career. But after having spending considerable time in Thailand, and I’m still visit there quite a bit, it’s become my second home.

“My education there, in conducting business in foreign jurisdictions, was vast and rapid. I learnt about the extreme complexities that exist when dealing with other nations. I learnt that Australia’s role in Asia and Oceania is sometimes a little too arrogant. I even discovered some prejudices that I held regarding that part of the world, which I thought I definitely didn’t have. It was a remarkable and incomparable time of my life.”

Working For Kerry Packer It was while in Thailand that Craig met with a famous Australian in what was to become a pivotal moment in his life. James Packer had

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flown into Bangkok to especially discuss a new role that his father Kerry and Kerry’s general counsel thought Craig would be well suited for.

“I got in the car after that meeting and told my driver, who spoke no English at all, ‘that meeting just changed my life’ – and it really did.

Being around that calibre of people and the considerable working environment fuelled me with experience and expertise unlike anyone could dream of.”

After about a year of working with the Packers, Craig started to realise that he might unknowingly be a ‘real estate guy’.

“I was speaking with James Packer and he didn’t think of himself as a real estate person either, even though he owned a lot of real estate in casinos around the world. Although I taught property law at the University of Sydney as a tutor, and I studied every real estate course that I could while at university, but I didn’t really have an interest in it.

With this slight calling by his side, Craig left the Packers and joined Andrew Kerr to found Telopea Capital Partners. Andrew had just left Merrill Lynch at the time and brought with him a man named Stephen Gaitanos.

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“Stephen came on as our junior, but now I think of him as my senior partner. He was more astute and more mature than either Andrew or me. We had a great relationship and it’s with Stephen that I went on to found Scape Australia.”

The Great Scape – From 5,000 Beds To 80,000 Beds And More To Come!

Scape was founded in 2013 on the principle that students deserved better housing options and that they would be willing to pay for it too. From 5,000 beds in 2014, Craig and Stephen have grown the business to more than 80,000 beds – and there’s more ready to come online over the next 24 months too.

“Back in 2013 there wasn’t any purpose-built student accommodation (PBSA) in Australia except for one building in Brisbane, which Urbanest had built. Stephen saw an opportunity to invest in a company in Brisbane that was managing student accommodation solutions for real estate owners who wanted to rent their rooms out to students. It really snowballed from that point.

“The numbers were just steamrolling, in terms of international students coming to Australia, post GFC in 2009 and 2010. We saw it as a moment of logic, it didn’t come to us in a dream one night, building PBSA just seemed logical.”

With each bed occupying around 30-40sqm of floor space, Scape Australia has been responsible for millions and millions of square metres of GFA development in Australia over the past seven years.

Craig additionally noted that over the past two years within Melbourne, taking out one or two extraordinary residential developments, student accommodation has been the city’s largest construction contributor.

“Scape has gone from two guys out the back of a mining company’s office in Martin Place in Sydney, to 450 people. We have a total of around $8 billion of assets under management and of equity that we manage. In the last 12 months we’ve acquired our two largest competitors, Urbanest and Atira. It’s been a whirlwind, but it’s been great.”

The Elephant In The Room – COVID 19 The global pandemic we currently find ourselves in has dramatically impacted multiple property sectors including PBSA. With Australia’s strict border closing policy in place, seemingly until we can distribute an effective vaccine, one would think that the ambitious future that Scape is setting out to achieve would be put on hold; but Craig remains optimistic.

“On January 25 at 11am, we introduced a Coronavirus taskforce and began our strategy on that day. By the Saturday night that followed, the Prime Minister announced that he would be locking out China for international travel. We had a heads up on that a week prior and had already formulated a solution for students who were to be impacted by that restriction.”

Since the start of February, a significant number of students have been locked out of the country. Many of them live here and many have families here too, but they must wait until the Government decrees it possible for their re-entry. Craig is extremely empathetic with the frustrations and disappointment this pandemic has caused and is advocating for the restrictions to be eased sooner rather than later.

“I think we’ll see these students being able to return once we get all

of the Australians home that want to come home. It shouldn’t be as binary as that, but that’s politics.

“We were at about 95% occupancy, but we were only able to get around 75% for the first semester of this year. Since then it has retreated down to around 50%-60%. Now that number is actually higher than first predicted and higher than most people realise, and the reason is that the students don’t want to go home. Given the opportunity, they have stayed on. We’ve had a record number of re-bookings by guests who plan to stay over the summer.

“We’re obviously above what I would call the threshold pain level, which is around 30-40% occupancy. I think at 50% and above, because the margins are there and we’ve been able to scale back our operational base and still deliver the service, I think most of our sectors have been able to navigate 2020 safely.”

A Reducing Population Forecast Is Still An Opportunity While a number of reports are forecasting that population numbers will fall across Australia, Craig remains adamant that there lies considerable opportunity. If these forecasts come to be realised International students represent one of the largest cohorts of migration to Australia, and in that there is a lot of power. The government have recently announced extensions to the student visa entitlements beyond the completed degree courses, so now students can stay on in Australia for another two years once their course is complete.

“What we often see is that international students often evolve into applicants for permanent residency. Importantly for Australia, they are skilled migrants.

“So we expect to see the flip of the logic that is if population growth reduces then demand reduces – we actually see international students being a very simple policy lever for the government to turn on and off – to allow more students in, to allow more students to stay longer and to allow more students to apply for permanent residency.

Then you’re actually able to control the skillset that is coming into Australia, rather than the random intake that comes from population growth occurring through immigration and non-skill set applicants.”

While student accommodation is at the core of Scape Australia’s mandate, it’s not hard to see that Scape are precisely a build-to-rent (BTR) company. The progression to general residential is natural for Craig, who sees the BTR sector as no longer an alternative asset class, but as a strong viable opportunity.

“I think that Australia needs an affordable and social solution to the rental problem and home ownership desire. I think BTR is here to stay. It’s going to be here and it’s going to be here for decades.

“Fundamentally it’s about providing accommodation solutions for humans to live in a more engaged way; in a post coronavirus world this is going to be a massive challenge for us all.”

53' Click Play to listen to The Interview with Craig Carracher in full.

Interview: Rob Langton, Development Ready

09

ADVERTISE IN TPDR

Reach a wide audience pool by advertising in The Property Development Review.

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

Click for More Info

10

New South Wales Listings

The Property Development Review

SYD. 33.8688° S 151.2093° E

NSW

11

Property Listings

NSW

Accelerating success.

R A R E A PPROV ED S UR RY H ILLS GAT EWAY SIT E FOR SALE by Expressions of Interest closing Wednesday, 11 November 2020 at 3pm (AEDT) 479 SOUTH DOWLING STREET, SURRY HILLS

Matt Pontey 0438 337 799 DA Approved commercial building

1,076m2* of integrated approved GFA

Capitalise on billions in surrounding infrastructure

Huge exposure and signage opportunity

colliers.com.au/p-AUS66010869

12

Designed by Smart Design Studio

Miron Solomons 0411 709 666

*Approx.

Property Listings

NSW

The Property Development Review

Accelerating success.

M A X IM I S E TH E TRUE POTENT IAL OF T HE MOST STR ATE GIC S ITE IN ST LEON ARDS FOR SALE by International Expressions of Interest closing Wednesday 4th November 2020 at 4pm (AEDT) ‘The Quarter’, 448-456 Pacific Highway, St Leonards & Crows Nest

Henry Burke 0418 238 636 Site Area 1,644m²*

Utilise 30 stories to increase FSR^

Strategic corner site in key position

Opportunity 40m* to for significant Crows Nest public Metro Station benefit^

colliers.com.au/p-AUS66010933

320m* to St Leonards Train Station

Guillaume Volz 0404 887 717

*Approx. ^STCA

13

Property Listings

NSW

Accelerating success.

L E PP IN GTON TOWN C ENTRE DE VELOPME NT OPPORT UNIT Y FOR SALE via Expressions of Interest closing on Wednesday, 18 November 2020 at 12:00pm (AEDT) 113 RICKARD ROAD, LEPPINGTON

Joe Sacco 0414 483 247 Frank Oliveri 0419 018 356 2 Hectare parcel of land*

B3 commercial core

Rapidly growing residential suburb

Surrounded by major infrastructure

developmentready.com.au/properties/113-rickard-road-leppington-nsw-2179-28889

14

The Property Development Review

Accelerating success.

BO N D I B E AC HF RON T T ROPHY A SS E T FOR SALE via Public Auction on Thursday, 19 November 2020 at 10:30am (AEDT) 134-138 CAMPBELL PARADE, BONDI BEACH

Steffan Ippolito 0403 347 111

Bondi beachfront trophy asset

Valuable and rare DA Approval

Diverse multiple income streams

First DA Approved site offered on Campbell Parade

Miron Solomons 0411 709 666 Matt Pontey 0438 337 799

developmentready.com.au/properties/134-138-campbell-parade-bondi-beach-nsw-2026-28869

15

Press Release: Asian Investment Services

Ray White Commercial launches Asian Investment Services

RAY WHITE Commercial Asian Investment Services

Vee Li will also be splitting her role across Ray White

has officially launched today with the aim of providing

Commercial Western Sydney and Asian Investment Services

a fully integrated commercial property service offering

as she becomes a Business Development Executive.

for Asian clients.

“We really started this business as we saw there was a gap

The division will be led by Victor Sheu as Head of Asian

in the market for a fully integrated commercial property

Investment Services .

service offering for Asian clients,” said Ray White

Joining the team is Andrew Vines (Sales and Leasing) who

Commercial Western Sydney Principal Peter Vines.

has spent many years living in Beijing and Shanghai and

“With the ever-changing legislative environment for

Samuel Gong (Asset Manager, Sales and Leasing).

commercial property and the current COVID-19 situation,

16

Property Listings

NSW

it's hugely important that Asset Managers are across these changes, and that important pieces of information are not lost in translation.

The Property Development Review

commercial property investment.

“The increasing flexibility of a globalised world me ans we often see our clients moving between Australia and Asia

“We’ve seen many of our Chinese clients have their assets

seamlessly. These clients need the comfort of knowing their

managed by residential agents that could speak the lan-

investments are being responsibly and optimally managed.

guage but simply didn't understand commercial property.

The foundations of our business will be built on trust, family values and honesty.”

Mr Sheu said the business was borne out of a need for a commercial property advisory service that spans the full lifecycle of commercial property investment.

“This includes everything from sales, to leasing and asset management, and back to sales - while also catering to the long-term needs of our culturally and linguistically diverse local and overseas clientele,” he said.

“It’s a well-known fact that Australia (and in Sydney in particular) is a locale of choice for Asian investors.

“As a family-owned business ourselves, we saw a real need to cater for our clients (whether based here or in Asia), in a manner that was not just focused on selling an asset and moving onto the next one.”

Ray White Commercial Head of Agency Operations Andrew Freeman said he was pleased to welcome the new division and said it highlighted the diversity his teams could offer.

“This is such an important market within our commercial business. It’s a natural progression in our continued growth ambitions by expanding the service offering to our clients,” he said.

“It can’t be underestimated the fantastic work that Peter

“What’s perhaps less recognised in the commercial market

and Victor have already done out of Commercial Western

is Asian investors are increasingly choosing to live and

Sydney – and by bringing in big names like Andrew and

raise their families here in Australia, while also continuing

Samuel – the future of Asian Investment Services is both

to build their generational wealth on the stability of

bright and exciting.”

Sale Singleton, Hunter Valley Residential Englobo Land Opportunity Singleton, Hunter Valley, NSW • Recently re-zoned for 250 building blocks • 50ha (123 acres) located on the fringe of Singleton township • Adjoins “The Pinnacle” residential estate • View of Singleton and The Brokenback Range, 4 bdm residence • Concept plan and zoning approval documents available

raywhitesingleton.com.au

Sale EOI Closing Friday 26 February 2021

Ross Wilkinson 0408 431 908

View View By Appointment

*Agent declares interest

17

Property Listings

NSW

Connecting people & property, perfectly.

View Listing

18

Property Listings

NSW

The Property Development Review

Artist Impression

696-700 Old Princes Hwy, Sutherland NSW. For Sale by Expressions of Interest closing Thursday, 12 November 2020 at 4.00pm AEDT.

DA approved for 4,816 sqm* GFA

1,376 sqm* site area

Zoning allows for residential

Immediate holding income

•

A generous 1,376 sqm* site, boasting a significant 27m* frontage

•

DA approved for 4,816 sqm* GFA

•

Opportunity for alternative development use as a boutique residential development site (STCA)

•

Provides immediate holding income to the successful purchaser

•

Less than 200m* to Sutherland train station with connectivity to Cronulla, Sydney CBD and Bondi Junction

•

Within proximity to multiple retail and entertainment options including South Village Kirrawee and Westfield Miranda

Joshua Crealy 0402 248 786

Scott Timbrell 0423 379 007 Demi Carigliano 0423 015 815

*Approx.

DA Approved with potential upside

19

Property Listings

NSW

195 Wonga Road, Prestons

FOR SALE

Expressions of Interest Closes 23rd November 2020 at 4.00pm

20

LJ Hooker Commercial has the pleasure in offering the opportunity to acquire a prime industrial site on the gateway of the M7 & M5 interchange providing unrivalled connectivity throughout Sydney.

Vacant parcel of industrial land to be sold on a fully serviced and benched basis ready for development.

Services that will be available include power, water, sewer and multiple telecommunications options.

PROPERT Y DET AIL S

Land size 14,556 sqm Zoning IN (1) General Industrial (Liverpool LGA)

AGENT

Marcel Elias 0488 88 44 11 melias@ljhcs.com.au

Property Listings

NSW

The Property Development Review

Newcastle West | 924 Hunter Street & 4 Tighe Street FOR SALE | EOI: Closing Thursday 19 November at 4:00pm The Rise and Rise of Newcastle

Newcastle’s Famous “Dairy Farmers Corner”

Three street frontages

Expansive 5,130 sqm* site area

90m height limit, maximum allowable in Newcastle CBD

Over 41,000 sqm of GFA permitted

Not affected by mine subsidence

MATT KEARNEY 0427 921 206

ADAM LEACY 0421 613 160

Significant and strategic development site positioned in Newcastle West End Precinct which has been designated as the new CBD under the Urban Renewal Strategy. Substantial long term holding income with term certain until 2024 and the flexibility of a development clause in the leases should you wish to commence a project sooner.

XAVIER RAHME 0415 711 606

NICHOLAS HEATON 0408 025 097

*Approximately Outline indicative only *Approximately

connected. experienced

www.commercialcollective.com.au

Rare R3 Medium density Killara Site 2 & 4 Killara Ave, KILLARA, NSW 2071 • •

Significant site area of 1821* sqm R3 zoning, 0.8:1 FSR & HOB 11.5m *(Council has indicated an

•

Situated on a quiet street just 700m from Killara Train Station and 700m to Coles Lindfield.

Suitable for residential development.

Flexible site with wide frontage approx. 30.5m indicating a potential GFA of 1,457 sqm*

• •

amendment to height of building and FSR for 4 Killara Ave to make site consistent with adjoining R3 zoned site).

For sale via Expressions of Interest via exclusive agent, Ryan Greenhalgh of Ralton. *approximations. Inspection by appointment only.

Ryan Greenhalgh Senior Sales Executive (M) +61 422 725 866 (E) ryan@ralton.com.au (W) www.ralton.com.au

21

Property Listings

22

NSW

Property Property Listings Listings

NSWNSW

The Property Development Review

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

MARK LITWIN Associate Director, Knight Frank Western Sydney

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

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

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

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

HENRY BURKE National Director, Colliers International

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

JOSEPH ASSAF Director, Ray White Commercial NSW

DEMI CARIGLIANO Senior Executive, Knight Frank South Sydney

Visit DevelopmentReady.com.au

23

Victorian Listings

MEL. 37.8136° S 144.9631° E

VIC

24

Property Listings

VIC

The Property Development Review

Accelerating success.

THE CROWN JEWEL OF MELBOURNE’S CBD LOUIS VUITTON COLLINS STREET BOUTIQUE FOR SALE by International Expressions of Interest closing Wednesday 28 October at 12pm (AEDT) 139 COLLINS STREET, MELBOURNE, VIC

Oliver Hay 0419 528 540 Melbourne CBD’s most coveted trophy asset

15-year 100% leased lease to with five year Louis Vuitton WALE expiring May 20206

Featuring stunning facade and excellent condition throughout

NLA 1,633m² (approx.) plus 10 basement car parks

Paris End corner position directly neighbouring Grand Hyatt

Matt Stagg 0409 411 300 Daniel Wolman 0412 957 839 John Marasco 0412 211 033

139collins.com.au

25

Property Listings

VIC

Accelerating success.

TWO PRIME EAST END FREEHOLDS THREE FRONTAGES, ENDLESS OPTIONS FOR SALE by International Expressions of Interest closing Tuesday 3 November at 12pm (AEDT) 18 & 20-22 LITTLE BOURKE STREET, MELBOURNE, VIC

FIRST TIME EVER OFFERED TO MARKET

Two (2) prime East End freehold titles

Versatile Valuable Rare triple eight (8) adjoining land frontage level freehold parcel totalling 70m* building

colliers.com.au/p-AUS66010862

26

Complete flexibility with vacant possession provided

Oliver Hay 0419 528 540

Brendan Hamill 0438 891 212

Daniel Wolman 0412 957 839

Jonathan Sher 0499 289 393

Leon Ma 马海翔 0417 070 725 Matt Stagg 0409 411 300

Property Listings

VIC

The Property Development Review

Accelerating success Reach more people – better results faster.

PRIME DEVELOPMENT OPPORTUNITY IN THE HEART OF RINGWOOD MAROONDAH HIGHWAY, RINGWOOD, VIC 3134 DEVELOPMENT SITE

Outlines indictative only

EXPRESSIONS OF INTEREST Closing Thursday 19 November 2020 at 3pm

Colliers International is pleased to offer 85 Maroondah Highway Ringwood for Sale, a rare and expansive opportunity that is situated in the heart of Ringwood is often sought, seldom found.

Currently zoned Commercial 1 and located within the proposed Ringwood Metropolitan Activity Centre which is subject to a pending C130 amendment which should it be adopted and gazetted, will result in a preferred height of 8 storeys (^STCA).

With vacant possession upon settlement of 30 June 2021, this is a prime opportunity to take advantage of continued demand in Ringwood as well as potential planning upside.

View Now Peter Bremner 0412 326 942 peter.bremner@colliers.com

– 2,616m²* site with two street frontages – Pending C130 amendment allows 8+ storeys – Located in the heart of Ringwood

Ben Baines 0438 328 407 ben.baines@colliers.com

* Approx. ^STCA

colliers.com.au 27

Property Listings

VIC

Accelerating success Reach more people – better results faster.

CUTTING EDGE OFFICE / COMMERCIAL 1 SITE FOR SALE – EXPRESSIONS OF INTEREST CLOSING WEDNESDAY, 25TH NOVEMBER AT 3PM 115 Sackville Street,Collingwood VIC 3066 – – – – –

Stunning office building of 731m²* bathed in natural light Purpose-built and owner occupied by world renowned architect ClarkeHopkinsClarke in 2008 High ratio of parking for 25 cars at ground level Substantial land holding of 996m²* ripe for future development (^STCA) Commercial 1 re-zone allows for a multitude of development options including residential, office, hotel or other (^STCA).

View Now Ted Dwyer 0411 312 165

28

*Approx ^Subject To Council Approval

Peter Bremner 0412 326 942

Andrew Ryan 0408 543 527

Property Listings

VIC

The Property Development Review

Accelerating success Reach more people – better results faster.

MIXED USE CORNER DEVELOPMENT SITE HEIDELBERG HEIGHTS, VIC 3081 DEVELOPMENT SITE

Outlines indictative only

EXPRESSIONS OF INTEREST Closing Thursday 19 November 2020 at 3pm

– – – –

Flexible Mixed-Use zoning Prominent Corner site with 3 frontages Land area of 946m²* Situated in Heidelberg Activity Centre

Colliers International are pleased to offer 457 Upper Heidelberg Road, Heidelberg Heights for sale by Expressions of Interest.

This highly versatile corner development proposition situated in the heart of the Heidelberg Activity Centre is suited to a variety of development outcomes.

Located near the elevated intersection of Bell/ Burgundy St, the Mixed-Use zoned corner site of approximately 946m²* provides scope for multi-storey development, allowing the potential for stunning view lines from any future development.

View Now Hamish Burgess 0421 641 497 hamish.burgess@colliers.com

Ben Baines 0438 328 407 ben.baines@colliers.com

Ted Dwyer 0411 312 165 ted.dwyer@colliers.com

* Approx. ^STCA

colliers.com.au 29

Property Listings

VIC

VIEW LISTING

For Sale: 93 Wattletree Rd, Armadale VIC 3143

A rare opportunity to secure a permit approved site allowing for a 5 level mixed-use development within the affluent suburb of Armadale positioned opposite Malvern Central.

EOI Closing: Thursday 12th Nov at 3pm

– –

Alex Ham — 0410 545 226 Michael Gross — 0419 355 561

– –

Existing permit approved for a 5 level mixed-use development Plans and working drawings prepared for 22 apartments and ground floor medical 560m²* of cleared Residential Growth (RGZ2) zoned land Dual street frontages to Wattletree Road & rear R.O.W.

VIEW LISTING

Artist Impression

For Sale: 1254-1258 Glen Huntly Rd, Carnegie VIC 3163

Boasting an existing planning permit and stamped plans, this development opportunity is ripe for the astute developer or owner builder.

EOI Closing: Friday 20th Nov at 12pm

–

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

30

– –

Sprawling parcel totalling 2,017m 2* of Commercial 1 (C1Z) zoned land Permit approved for a mixed-use development including retail & apartments Already endorsed plans for 59 apartments & 2 ground floor retail tenancies over 6 levels plus basement

Property Listings

VIC

The Property Development Review

VIEW LISTING

Artist Impression

For Sale: 42 & 44 Lillimur Rd & 7A & 9A Leila Rd, Ormond VIC 3204 EOI Closing: Thursday 12th Nov at 4pm Andrew Greenway — 0409 547 626 Alex Ham — 0410 545 226

Corner landholding comprising 4 residences on individual titles within sought after location featuring dual permits for boutique apartment development or Aged Care complex.

– – –

Plans for 24 apartments comprising mainly 2 & 3 bedrooms or 3 level plus rooftop aged care facility Corner landholding of 1,438m 2* Superb residential location opposite Kilvington Grammar and close to Ormond Village shops and train station

VIEW LISTING

For Sale: 274 High St, Windsor VIC 3181

Situated in one of Melbourne’s most sought after locations to live, work and play. Just 350m* from Chapel Street, 450m* to Swinburne University and 3* minutes to Prahran Market.

EOI Closing: Thursday 19th Nov at 3pm

– – – –

Raoul Salter — 0418 335 432 Alex Ham — 0410 545 226

Land area: 1,330m 2* Frontage of 16m+ to High Street Zoning - Activity Centre (ACZ1) Suit Owner Occupiers / Investors / Developers (STCA) Under instuctions from

31

Property Listings

VIC

Connecting people & property, perfectly.

32

Property Listings

VIC

The Property Development Review

For Sale: 1900 Frankston-Flinders Road, Hastings Located within reach of both residential housing and a flourishing commercial precinct, 1900 FrankstonFlinders Road presents an incredibly rare land bank opportunity for a purchaser to gain ground in the historic town of Hastings. The site includes a luxury residence being only two-years-old, equipped with four bedrooms, three bathrooms, a three car garage, solar heated pool and a detached self contained bungalow.

Rare Mornington Peninsula Opportunity Key attributes of this impressive opportunity include: •

Large 19.46 ha* landholding.

•

The site offers main road frontage to FrankstonFlinders Road.

•

Provides views of a beautifully landscaped lake.

•

1900 Frankston-Flinders Road includes three inground water tanks, with a capacity of 21,000L each.

•

Easy access to Melbourne CBD being only a 50 minute drive.

Potential For Development in the Future.

Please contact the below agents for further information.

View Listing

Lucas Gentile 0418 516 056 lgentile@realproperties.com.au

Joe Catanese 0418 367 514 jcatanese@realproperties.com.au 33

Property Listings

VIC

Rare Art Deco Opportunity Mortgagee Sale 458 Victoria Parade, East Melbourne VIC

– Rare East Melbourne Art Deco apartment block with upside – Melbourne’s foremost residential location – 12 individually titled East Melbourne apartments – Complete the works and realise the upside

Acting under instructions from PKF

34

For Sale by Expressions of Interest closing Thursday 5 November at 12.00pm

Steve Kelly James Thorpe Michael Godfrey MingXuan Li 李名轩 property.jll.com.au

0407 320 377 0414 510 071 0437 440 245 0498 688 998

Property Listings

VIC

The Property Development Review

A MELBOURNE DEFINING MIXED-USE DEVELOPMENT OPPORTUNITY

Major consolidated site of 6,202 sqm with 199 metres of prominent frontages Permit approved for a landmark mixed-use project including residential, office, hotel and retail Designed by world-class architects, with a total permitted NSA of 73,469 sqm Prime Southbank location within close walking distance to Melbourne’s CBD via the vibrant Yarra Promenade

Surrounded by leading amenity, connectivity and parklands

Over 9,000 sqm of existing NLA with short term income and 3.5-Star NABERS Energy rating

*All figures are approximate

For Sale by Expressions of Interest Closing 19 November 2020

Trent Hobart +61 433 196 452 trent.hobart@colliers.com Jozef Dickinson +61 402 678 888 jozef.dickinson@colliers.com

Rob Joyes +61 418 137 277 rob.joyes@colliers.com

Leigh Melbourne +61 413 253 339 leigh.melbourne@ap.jll.com Piers Jalland +61 400 012 891 piers.jalland@ap.jll.com

Josh Rutman +61 411 273 746 josh.rutman@ap.jll.com

35

Property Listings

VIC

ADVERTISE IN TPDR Reach a wide audience pool by advertising in The Property Development Review.

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

Click for More Info

36

The Property Development Review

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

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

BEN BAINES Director, Colliers International

JAMES THORPE Director, JLL Victoria

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

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

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

KANE MALCOLMSON Acquisitions Manager, Core Projects

Visit DevelopmentReady.com.au

CONSISTENTLY DELIVER HIGH QUALITY ENQUIRIES We have found DevelopmentReady to consistently deliver high quality enquiry.

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

JULIAN WHITE Partner, Stonebridge Property Group

37

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

38

The Property Development Review

39

Queensland Listings

BNE. 27.4698° S 153.0251° E

QLD 40

Property Listings

QLD

The Property Development Review

FOR SALE 76 Le aroyd Ro ad, Algester, QLD, 4115

RARELY OFFERED APPROVED SUBDIVISION OPPORTUNITY

Located less than 20km from the Brisbane CBD, 76 Learoyd Road offers a rare opportunity to acquire an approved subdivision site within a highly desirable residential catchment. > 3.81HA* regular shaped land parcel > Approved for 36 lot residential subdivision > Limited stock currently available in immediate precinct > Close proximity to numerous local retail offerings > Immediate vicinity of a number of primary, secondary and tertiary education providers.

Contact the following Agents for further information including full development approval plans and conditions.

Sam Callanan P: 0422 472 916

Carl Charalambous P: 0422 804 462

Joe Kennedy P: 0488 627 620

View Now * Approx

41

Property Listings

QLD

For Sale: 44-46 Cinderella Drive, Springwood, QLD 4127 CENTRE ZONED SITE IN RAPIDLY TRANSFORMING PRECINCT

Savills are delighted to be selling a 1439 m2* land holding with development potential at 44-46 Cinderella Drive, Springwood.

EOI Closing 4pm Tuesday 10th November – 1439 m2* (*approx) – Zoned “Centre Core” – Allowing potential height of 32m – Current holding income of $47,840* – Expansive corner site with a combined site area of 1,439 m2* – Favourable “Centre” zoning allocation allowing a wide range of uses – Only 150m* to Woolworths, Target and Springwood Mall – 400m* to Coles and Arndale Shopping Plaza

Daniel Pepper 0413 336 377

Tim Packman 0431 470 873

– $15m refurbishment of Arndale Shopping Plaza to be completed by the end of 2020 – Close to transport and major arterials.

- EOI Closing 4pm Tuesday 10th November

Outline indicative only

More Exposure More Competition Record Prices 42

VIEW LISTING

Property Listings

QLD

The Property Development Review

W H AT ' S N E X T DA APPROVED & SHOVEL READY DEVELOPMENT SITE

Auction - tightly held commerciAl Precinct 23, 25 & 27B MARGARET STREET, SOUTHPORT 4215 • • •

2,564sqm* industrial land Multi-unit commercial development Stamped approved plans ready for your review

Josh Wright 0418 373 704

cushmanwakefield.com.au

• • •

3 x individual land titles in one-line All the preliminary work was been completed Central location close to Southport-Nerang Rd & Ferry Rd

Public Auction Thursday 29 October at 1:30pm * Approx 43

Property Listings

QLD

15.4HA LEVEL AND SERVICED GENERAL INDUSTRY PARCEL Caboolture, QLD, 4150, 120 McNaught Road

FOR SALE - PARCEL 5

EOI: Closing 4pm Thurs 5th November 2020 •

15.4ha* of usable Industry land

•

Adjoining new 59 lot Corporate Park East estate (64% committed off plan)

•

Multiple access and service locations give ultimate development flexibility

•

Strategic location only minutes from Bruce Highway and D’Aguilar Highway interchanges

•

Located in one of the fastest growing shires in the country

•

Benefit from Northern Corridor supply vacuum

•

Subdivide, build and hold or owner-occupy.

Chris Massie 0412 490 840 chris.massie@raywhite.com Ashley Rees 0411 707 410 ashley.rees@raywhite.com

*Approx

View Listing 44

www.raywhitecommercialnortherncorridorgroup.com.au

Property Listings

QLD

The Property Development Review

SEASIDE POTENTIAL DEVELOPMENT SITE

Redcliffe, QLD, 4020, 123-125 Sutton Street

FOR SALE

Agents in Conjuction:

EOI: Closing 4pm Thurs 22nd October 2020 •

2,391m²* freehold allotment

•

Drive through access

•

Located in the heart of Redcliffe

This 2,391m²* allotment is located in the heart of Redcliffe, within the Moreton Bay Region. Redcliffe is home to over 62,000^ people and has 210,000m²* of existing retail building footprint in Centre Zone. The new Redcliffe Peninsula Rail Line now connects the seaside to the rest of the region and to Brisbane City.

Chris Massie 0412 490 840 chris.massie@raywhite.com

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

*Approx

View Listing

www.raywhitecommercialnortherncorridorgroup.com.au 45

Property Listings

QLD

Absolute Waterfront Investment/Development Potential For Sale: 12-18 Haysmouth Parade, Clontarf QLD 4019

Tucked away in a peaceful pocket at Clontarf on the Redcliffe Peninsula this 2528m2* property offers a great development opportunity.

• • • • • • •

www.wpr.net.au Kevin Bostock 0418 125 356 kevin@wpr.net.au 46

2528m2* of waterfront land overlooking Hays Inlet across to the Glasshouse Mountains.

Perfect development opportunity ^STCA Possible multi-storey development site Multiple income producing property Current use Holiday/ Cabin Park 250m* to Redcliffe Golf Club Easy commute to Brisbane Airport and CBD Returns available on request.

*Approx ^subject To Council Approval

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The Property Development Review

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

JARED JOHNSON Director, Harcourts Coastal Commercial

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

ADAM RUBIE Residential Development Sites Manager, Colliers International

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

GREGORY BELL Director, Ray White Commercial Gold Coast

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

CARL CHARALAMBOUS Managing Director, C Property

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ith Industry Leaders Online.

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Report WA Quarterly Western Australia Listings

PER. 31.9505° S 115.8605° E

WA

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Property Listings

WA

The Property Development Review

FOR SALE Tavern

TREENDALE COMMERCIAL AUSTRALIND - VACANT SITES

LOTS FOR SALE

Woolworths McDonalds

LOTS FOR SALE

Bunnings LOTS FOR SALE

To Australind Bypass

An exciting development in the emerging northern corridor of the Greater Bunbury area, offering businesses and investors the chance to secure a commercial footprint in one of the fastest growing regions in WA outside the metropolitan area.

Lot 60 135 Grand Entrance (Approved Fast Food Site) Lot 66 147 Grand Entrance

2,235 m²

$850,000 (Plus GST)

1,461 m²

UNDER OFFER

Lot 67 149 Grand Entrance

1,461 m²

UNDER OFFER

Lot 69 23 Antlia Way

1,573 m²

$445,500 (plus GST)

Lot 70 19 Antlia Way

1,553 m²

$423,000 (plus GST)

Lot 71 15 Antlia Way

1,552 m²

$423,000 (plus GST)

The precinct has already welcomed many franchises including but not limited to:

Lot 72 13 Antlia Way

2,214 m²

UNDER OFFER

2,501 m²

$675,250 (plus GST)

Woolworths Bunnings Caltex & Vibe

McDonalds KFC Tyrepower

Mike Jenkins 0418 931 373 mike.jenkins@comrealty.com.au

Lot 3

111 The Boulevard

Titles Available - Development Ready For further details on purchasing your strategic commercial site contact exclusive selling agents:

Geoff Hill 0408 002 211 geoff.hill@comrealty.com.au 51

Property Listings

WA

RARE NEDLANDS SITE WITH DA APPROVAL, READY TO BUILD, AVAILABLE NOW! Highly sought after location, 8kms from CBD, this property is available by Expressions of Interest unless sold before.

The site is close to the river, the University of WA, Sir Charles Gairdner Hospital, local Shopping Centre and Kings Park.

For a copy of the IM please email: tony@thepropertymasters.com.au

Tony Cowan mobile: 0434 905 430 PO Box 1421, West Leederville WA 6901 52

Property Listings

WA

The Property Development Review

Connecting people & property, perfectly.

17 - 19 Hastings Street, Scarborough WA. For Sale by Offers to Purchase closing Wednesday, 11 November at 3pm (AWST).

Large site with income stream and flexible development options.

Large site of 3,195 sqm

Revitalised Scarborough Beach Precinct

Knight Frank and Peard Real Estate are pleased to offer for sale 17-19 Hastings Street, Scarborough.

This exceptional site, located in one of Perth’s most vibrant and evolving residential, commercial/retail precincts, offers buyers an income stream plus development options.

The site adjoins the future Woolworths development which will transform this area of Scarborough into a vibrant commercial retail and residential hub.

Adjoins future Woolworthss

Close to major facilities and amenities

For Sale by Offers to Purchase closing Wednesday 11 November 2020 at 3pm (AWST). For more information please contact the exclusive selling agents.

Significant holding income

Improved with 12 large villas

Paul Kettle 0403 177 680

Tony Delich 0418 926 410 James Baker 0418 912 007

View Listing

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SA South Australia Listings

Property Listings

ADL. 34.9285° S 138.6007° E

SA 54

The Property Development Review

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Property Listings

SA

Boundary Indicative

Landmark development site For Sale 616 Torrens Road, Woodville North SA – Huge site of 40,000sqm* – Flexible mixed used zoning – Two street frontages

Roger Klem 0423 919 373 Jamie Guerra 0418 849 780 property.jll.com.au/321020

– Holding income

*(approx)

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For Sale by EOI closing Thursday 19 November 2020 at 4pm

RLA1842

Property Listings

SA

The Property Development Review

Boundary Indicative

Adelaide CBD land For Sale 15 Halifax Street, Adelaide SA

For Sale by EOI closing Thursday 19 November 2020 at 4pm

– Prime CBD site of 1,201sqm* – Frontage to Halifax St of 18.6m* – Capital City zone - 53m height limit

Jed Harley 0418 807 920

Roger Klem 0423 919 373

property.jll.com.au/320535

– 50m* from free city tram stop

*(approx.)

RLA1842

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ADVERTISE IN TPDR

Reach a wide audience pool by advertising in The Property Development Review.

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

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Media Kit 2020 – 2021 All States Listings

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CommercialReady Listings

NSW

Commercial Investment For Sale 6a Wetherill Street, Leichhardt NSW

– Multiple tenancies providing diverse income stream – “Smart” building – Secure – Off street parking for 4+ vehicles

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Public Auction 17th November 2020

John Romyn 0414 183 712 Paul Hunter 0412 764 682 property.jll.com.au/321444

CommercialReady Listings

NSW

The Property Development Review

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CommercialReady Listings

62

VIC

CommercialReady Listings

VIC

The Property Development Review

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CommercialReady Listings

64

QLD

CommercialReady Listings

QLD

The Property Development Review

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CommercialReady Listings

WA

For Sale

2 ST QUENTIN AVENUE

FOR SALE BY E XPRE SSIONS OF INTERE ST CLOSING 2PM AWST, THUR SDAY 12TH NOVEMBER 2020.

CLAREMONT, WA

Australia’s Most Bankable Investment

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100% LEASED INVESTMENT ANCHORED BY FOUR MAJOR BANKS: BANKWEST, CBA, NAB AND WESTPAC STRATEGICALLY LOCATED IN THE CENTRE OF CLAREMONT, ONE OF PERTH’S MOST PRESTIGIOUS AND AFFLUENT WESTERN SUBURBS 1,069SQM* OF NLA COMPRISING ONLY PREMIUM VALUE GROUND FLOOR RETAIL SPACE HIGH PROFILE 1,453SQM* CORNER SITE WITH MASSIVE FRONTAGE TO ST QUENTIN AVE & BAY VIEW TCE

RICHARD CASH 0412 006 949 richard.cash@cbre.com.au

NIGEL FRESHWATER 0417 197 375 nigel.freshwater@ap.jll.com

AARON DESANGE 0408 022 878 aaron.desange@cbre.com.au

SEAN FLYNN 0412 779 987 sean.flynn@ap.jll.com

The Property Development Review

A NEW hassle-free Buy Now, Pay Later solution that allows vendors to borrow up to $50,000 to fund their marketing campaigns.

Available exclusively to DevelopmentReady & CommercialReady

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CommercialReady Listings

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SA

The Property Development Review

Boost your campaign with video content that drives enquiries.

Allard Shelton, Corporate

Real Properties, Carrum

Knight Frank, Melbourne

Smart agencies are using video content as a key marketing component on every platform and channel. The creation of information-rich video content produced

by DevelopmentReady has boosted both campaign enquiry levels and brand awareness for many leading agencies.

ICR Property, Sunbury

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Discover Australia's finest Media Kit properties at commercial 2020 – 2021 the click of a button.

Visit commercialready.com.au for more info.

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