Issue #19 | The Property Development Review

#19

February/March 2021

The Interview: Harry Triguboff AO Brae Sokolski Allan Fife OAM Andrew Welsh Norm Rix Around The Country: Market Moves National Site Listings

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Inside Issue #19

From the CEO

04

Welcome to the first 2021 issue of The Property Development Review.

The Interview: Harry Triguboff AO MD - Meriton Group

The commencement of a new year brings high levels of anticipation.

2020 absolutely tested all businesses in terms of acclimatising to a changeable business environment. Nonetheless, the new year brings optimism of accelerated activity to make-up for last year’s shortfall the Ready Media Group raring to go!

The front cover of this issue showcases 63 Exhibition Street Melbourne.

With a circa $80 million price expectation this is the first of 2021’s major development site offerings. Marketed by JLL’s Josh Rutman and his team on behalf of vendors Salta Properties, the existing site comes with a planning approval for a 52-storey tower designed Bates Smart.

06

Our popular interview series with industry leaders continues in earnest with a terrific line-up in this issue.

The Interview: Brae Sokolski CIO - Maxcap Group

Harry Triguboff AO Harry is a true legend of Australian business. Our very own Rob Langton exclusively interviewed this extraordinary individual who has changed the landscape of Australian cities and has inspired generations of business and property leaders. This really is an enlightening interview.

Brae Sokolski

08

As Founder of MaxCap Group, one of Australia's leading commercial real estate debt and investment specialists, Brae’s market knowledge is extraordinary. His articulate and precise commentary is particularly refreshing and demonstrates why MaxCap is professionally renown.

The Interview: Allan Fife OAM CIO - FIFE Capital

A must listen interview.

Allan Fife OAM Allan is Founder & Chief Investment Officer of Fife Capital, responsible for the performance of the Group’s funds and investments. Leading the executive team, Allan is renowned for his market intelligence and meticulous investment assessment skills. Super informative interview.

10

Andrew Welsh

The Interview: Andrew Welsh MD - Wel.Co

Former AFL Essendon Bombers player, Andrew Welsh, is Founder & Managing Director of Wel.Co - a multifaceted development business specialising in building Australian communities. With extensive landholdings in Melbourne's west, Wel.co are currently involved with four major housing projects.

Andrew’s interview delivers insights into a unique asset class.

Norm Rix With over 60 years of experience, Norm is one of the Gold Coast's most prolific property developers. His property projects have been key contributors to transforming the Gold Coast into a vibrant major city. A very insightful and entertaining interview with a true legend.

12 13

NSW: Property Listings

24

VIC: Property Listings

The Interview: Norm Rix Gold Coast Developer

38 51 56

Notably we have the latest and significant development sites for sale Australia-wide – check them out.

Please enjoy the read and above all stay safe.

QLD: Property Listings

Nick Materia, CEO, Ready Media Group

WA: Property Listings

On The Cover Harry Triguboff AO MD-Meriton Group

SA: Property Listings

Editor in Chief Frank Materia, frank@readymedia.com.au

Design & Direction Nespecart Advertising Enquiries Ted Lloyd ted@readymedia.com.au Editorial Enquiries editor@readymedia.com.au

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

Market Moves

Market Moves: Around the Country The start of the year tends to arrive with an air of anticipation as people return from their sun-drenched holidays and the market begins to rise once more from its periodical snooze.

This is true of every year, however no ‘start to the year’ has arrived with such scrutiny as the one we currently find ourselves in.

Following a tumultuous year that will surely be hard to forget, many are already remarking with surprised pleasure that the bounce-back has arrived “much sooner than anticipated”.

Australia’s handling of the global health crisis is enviable and has resulted in a market buoyed by confidence with players keen to jump straight back in. What might have been a relatively sleepy summer season, has proved a period of high success for many and this is setting a tone for the year to come.

02

NSW

An undeveloped Sydney office traded hands from Macquarie Group Limited to a joint venture between Investa Commercial Property Fund and Manulife, in a deal speculated to be worth close to $800 million. The 28-storey building is currently under construction at 39 Martin Place and is expected to be completed in 2024. It will present 30,000sqm of high-end office space with around 2,000sqm of retail on the lower levels.

Charter Hall made a historic move onto one of Sydney’s most prominent corners, snatching up the David Jones' flagship Elizabeth Street store for $510 million in a sale-and-leaseback deal. The sale price reflects around $15,000 per square metre, which is around one-third

the price of similar premium retail assets in the city centre.

Both the Hyde Park Inn on Elizabeth Street and a small office building located behind it traded hands from RSL NSW to Sydney developer Central Element for $95 million – a 77% premium to the independent fair valuation of the two properties as of June 2020.

Putting his money where his mouth is, billionaire developer Harry Triguboff picked up a 2.8-hectare supersite in Carlingford for $68.5 million. Mr Triguboff has been heard saying that the signs of the market return are good, and occurring at a rate faster to which he had initially predicted. The triangle-shaped property, located at 263-273 and 277-281 Pennant Hills Road, has potential to support up to 700 apartments within a near $600 million development, and was sold with an existing permit for 450 apartments.

Image: Artist’s impression of 39 Martin Place from Elizabeth Street (left) and 50 Martin Place (right) – supplied, Macquarie

The Property Development Review

its third housing estate site for around $40 million. Located at 86-100 and 102-148 Reserve Road, in Geelong’s south, the asset has the potential for subdivision into around 500 lots, the first of which are expected to be offered in early 2021.

Regional housing developments are having their time in the sun, with Cedar Woods scooping up their second Wollert farm for $30 million. The 21.7-hectare property is neatly positioned next to another site owned Cedar Woods which they secured in 2019 for $56.65 million. The two properties will for part of the Mason Quarter housing estate, with the new acquisition extending the community to include around 300 lots and two schools, adding to the original plot set to be divided into about 500 lots.

Troon Group and joint venture partner MaxCap sold a commercial investment in Mont Albert for, reportedly, north of $28 million.

Located at 3-7 Hamilton Street, the threestorey 3,720sqm building was originally purchased by the vendors two years ago before a major refurbishment was undertaken.

Woolworths Torquay Central was sold to a Melbourne based private investor for $25.1 million, representing the first major supermarket sales campaign in Victoria following the extensive lockdown period.

QLD A Bunnings warehouse in Seven Hills secured a handsome payout for Rugby League club the Canberra Raiders, with Home Consortium's newly floated Daily Needs REIT picking up the asset for $56 million. The sports club paid just $29.55 million in 2011.

VIC

The Head Office building of e-commerce giant Alibaba changed hands from a private family to Peachtree Capital's Greg Rosshandler for more than $40 million. Located at 411 Collins Street, the nine-storey office asset was built in the 1930s and presents a distinct modern-gothic facade.

Armstrong Creek has proved itself a burgeoning success, after ID_Land secured

Goodman Group sold a yet-to-be-built industrial investment in a major distribution centre hub in Crestmead for $70.3 million.

Ascendas REIT picked up 500 Green Road, which encompasses a 6.25-hectare landholding and upon completion will offer a 38,650sqm warehouse with the potential to be offered as four tenancies.

A multi-tenanted industrial investment in Staplyton, on Brisbane’s southern outskirts, has changed hands from GPT Group and APN Industria REIT for $65.52 million. The 8.15-hectare asset offers 40,970sqm of NLA across two buildings, with Woolworths sitting in as the anchor tenant.

Centuria Capital Group picked up three warehouse investments, two in Brisbane and one in Adelaide, for a combined total of $62.5 million. The largest of the three, located at 136 Zillmere Road, encompasses a 16,000sqm facility in Brisbane’s Boondall and was sold for $39.6 million. Over in Crestmead, at 2-6 Titanium Court, the second Brisbane encompasses a 5,000sqm warehouse rented to Vulcan Steel and sold for $12.4 million.

The third property offers 7,200sqm at 68-70 Kapara Road, Gillman in Adelaide and was sold for $10.5 million.

A six-storey office commercial property in Ipswich traded from Trilogy Funds Management to Aviator Capital for $25 million.

Known as Tower Central, at 114 Brisbane Street, the 4,564sqm of A-grade asset was originally purchased by the vendors in 2015 for $22.35 million.

The City of Gold Coast secured two adjoining Carrara sites, on which it will build a water and sewage plant, for just shy of $21 million.

The 5.1-hectare parcel forms part of Gordon Corp’s City Link Industrial Estate, located six kilometres south west of Surfers Paradise.

WA Stamford Land Corporation has traded Perth’s Dynons Plaza to Redhill Partners for $67.8 million. The asset, located at 905-919 Hay Street, presents a vacant 14-storey office building with 13,360sqm of office space, three heritage buildings and 34 car spaces.

Back to the west coast, where an industrial development site in Hope Valley, about 30 kilometres south of Perth, was sold by Hero Properties for $11.5 million. Sitting at 61 Armstrong Road within the Latitude 32 Industrial Estate, the 4.74-hectare block had previously been earmarked for the OVEST Industrial Park, however the incoming owners will construct a new operational facility.

Leading Perth plastic surgeon, Guy Watts, purchased a vacant character building with future development potential in West Perth for $2.075 million.

Albany saw a Singaporean tourism developer snap up a vacant the lots at 1 & 2 Frenchman Bay Road for an easy $1.05 million. he combined 3.26 Ha site area is currently vacant and was sold with planning approval for the development of 24 accommodation units, as well as a caretaker’s residence and café.

SA

An industrial property in Port Adelaide moved ownership from boutique fund manager Quintessential Equity to property syndicator Silverfin Capital for $17.6 million. The deal was made with a 10-year lease to InfraBuild, who have occupied the site since Quintessential Equity took over ownership seven years ago.

03

The Interview: Harry Triguboff AO

Harry Triguboff AO MD - Meriton Group

Harry Triguboff on self-made success, serviced apartments and life after 2020 As one of Australia’s richest people, with an estimated net worth of $11 billion (second behind Gina Rinehart on Forbes 2019 Australia Rich List), Harry Triguboff AO needs little introduction.

Since founding Meriton Group in 1963, he has overseen the construction of more than 75,000 residential dwellings, which has understandably earned him the affectionate nickname ‘High Rise Harry’.

Numerous awards have also been bestowed on him for his contributions to the Australian property industry and broader philanthropic endeavours.

He is one of the most revered property developers in Australia, showing no signs of slowing down despite his 87 years, and attesting that he continues to work exactly the same today as did 30 years ago. Mr Triguboff works hard because, as he told Development Ready during an exclusive interview with Rob Langton, “that’s what I like to do”. But hard work is not the only secret to his success.

The Self-Made Migrant Harry Triguboff was born to Russian parents in Tientsin (now Tianjin) China, in 1933, and migrated to Australia at the age of 15. He was educated at Scots College in Sydney, before attending Leeds University in England where he

Watch the full Interview

graduated with a degree in textile engineering.

After working in textile businesses in Israel and South Africa, he returned to Australia in 1960, became an Australian citizen in 1961, owned a taxi fleet and a milk run business, all before building his first block of apartments (Roseville, Sydney) and establishing Meriton at 30 years of age in 1963.

Since then, Meriton has grown to be one of Australia’s most impactful residential and commercial developers, undertaking some of the tallest residential towers across the east

Serviced apartments and a rolling philosophy Mr Triguboff was recorded saying in August of 2020 that,

“it is too risky to develop serviced apartments, because I don’t know what will happen with the hospitality sector.”

coast of Australia. The company also offers sales, leasing

During this period of heightened market ambiguity, Meriton

and property management services, as well as the luxury

had stopped construction of a serviced apartment tower in

accommodation brand Meriton Suites; an area of the busi-

Melbourne and thrown away plans to develop other towers in

ness that has been hit hard during the 2020 health crisis.

Canberra and Liverpool due to the implied risk.

04

The Property Development Review

The strategy at the time was to reposition many Meriton

overseas workers and students, imagine what will

Suites serviced apartment to the long-term rental

happen when this changes. We used to welcome 150,000

market and to redesign the not-yet-built complexes into

immigrants annually who are the best there is. In the

residential unit towers.

current economic climate, we can’t just rely on 150,000-

“2020 has had more problems than usual, but a developer always has problems – so we’re used to it.

“We have overcome all these problems because we had to – and it’s as simple as that.”

During a period where many businesses the nation over froze, hoping to wait out the storm, Mr Triguboff and Meriton found another way. This demonstration provides a remarkable insight into the enduring and immense success of both the man and the firm.

“You have to be adaptable and with a philosophy that changes with the market. My philosophy can be perfect, but that doesn’t mean it will be perfect forever.

local newborns, who won’t have an actual impact on the economy for at least 20 years, the immigrants immediately seek accommodation and they boost our economy.”

For the moment however, interest rates are keeping money in the pockets of Australians and this is fuelling a return of locals to the buyer market.

“Real estate sales are improving because there is so much money available at such low interest rates. We always had and always will have a shortage of supply.”

As Australia enters 2021 with renewed confidence, Harry Triguboff is busy leading the charge across numerous large-scale projects. These include; Ocean, which upon completion will boast the highest apartments on the Gold

“If I can give you an example; years ago, we were very

Coast with 76 storeys; Parramatta’s soon-to-be tallest

scared of having shops under apartments because there

riverfront tower, 180 George, soaring 67 levels high; and

was no demand for shops – but now shops are in high

Eminence which will offer 254 boutique apartments across

demand. Years ago, we didn’t worry about views, we just

two low-rise buildings and one 15-storey tower.

thought about the location; now we are particular about both of those attributes when buying sites.”

It also helps that Mr Triguboff’s apartments could make the transition from serviced apartment to long-term lease in the first place; an aspect that led to Quest shutting down

No one man can do everything Mr Triguboff’s humility is clear to see and plays directly into his success story. After all, he started his business as just one man.

properties in four states and ultimately breaking lease

“This was very important for me as I ended up

agreements with individual landlords.

understanding a little bit about everything – then I started

“I prefer to build closer to the top end – not completely

to employ people.”

at the top but maybe 60-70 out of 100. We don’t want to

Through the years, Mr Triguboff has worked directly

charge the highest premium for our homes, but I want

with every important person that he took on. Often, they

to build bigger homes, places that people can enjoy. It’s

were more qualified than he was, but as he points out, they

proved very useful.”

didn’t have his specific way of doing things, and for

Keep on keeping on Harry Triguboff believes Australia’s real estate market will start to recover from the impact of COVID-19 soon, with signs of improvements already showing.

Mr Triguboff this is very important.

“I believe that a company has to have its own methodology to be successful – it doesn’t have to be the one best way, but a company needs to have a process unique to itself. This was the beauty of me

With the help of government assistance and record low

starting by myself and then hiring the right people.

interest rates, new home loans in August recorded their

No one man can do everything, so I was able to share

largest monthly increase since records began in 2002.

my vision with everyone I worked with.

And in October, Sydney property prices returned to growth

This was the grounding that aided and then assured

for the first time since this April.

my success.”

“We are starting to recover despite having no migration, 05

The Interview: Brae Sokolski

Brae Sokolski

CIO - MaxCap Group Brae Sokolski of MaxCap Group, the non-bank lender at the top of the game “If you promise something, make sure you deliver on it. People don’t forget that.”

Brae Sokolski is the Chief Investment Officer of MaxCap Group, a non-bank lender founded by himself and Wayne Lasky in 2007. Since the doors opened, MaxCap has written more than 370 loans worth more than $10 billion, through deals made with property developers and property owners of all sizes. They currently hold $3.4 billion in funds under management.

Watch the full Interview

As CIO, Brae is responsible for deal origination, structuring and negotiation, and has been instrumental in MaxCap’s growth and in-industry reputation as one of the first-rate mezzanine financers for developers in the residential and commercial construction market.

MaxCap also features in the books of multiple specialty lenders and hedge funds, which have capitalised on the banks pulling out of developments and have thereby enjoyed distinct growth as big property sector lenders. In this pool Brae and his team have swam with the likes of Fortress, Goldman Sachs, PAG Asia and beyond, enjoying a notoriety which will ensure many more non-bank deals in the coming years.

While there are many facets to MaxCap’s success, this is ultimately where Brae sees his strength; in his ability to build relationships and develop a reputation of equitable value. It’s a skill that he attests he wasn’t taught in school or in university, but one he’s developed along his career, and began serendipitously 12 months before the destabilising effects of the 2008 GFC. The right model at the right time “The landscape of commercial real estate debt has changed dramatically in the past 13 years.” Brae said during a recent interview with Development Ready’s Rob Langton.

“Pre-GFC the banks were a pure oligopoly when it came to commercial real estate debt. They were lending developers up to 100% of development costs, borrowers would move from one bank to another on the back of 10 basis points; it was a different and incredibly aggressive time. There was 06

basically no room for other players.”

When Brae and his business partner Wayne Lasky started MaxCap, the area of ‘non-bank lender’ was relatively defunct.

At the start they played more of a financial advisory role, instructing major property players on how to source the best bank finance available. It was a model that they took over from some senior advisors, who were looking to move onto another project; they were able to learn a great deal in a short amount of time, and then, the big market shake up hit.

“The GFC hit and abruptly there was a major market dislocation. The oligopoly remained in place but suddenly the banks had to leverage down, so rather than offering 100% of cost, they were offering 75-80%, and that’s when mezzanine finance started to mature.

developers to lever up their debt; ultimately, it’s thought of as a layer of finance above and beyond senior debt. If you look at a capital stack of debt, the first and largest chunk is ‘First-Mortgage’ lending. Then you have Mezzanine Funding and then you have Developer’s Equity.

“Typically, senior debt will reach 65% of the value of the end value of a product, or 80% of the cost, with 20% coming from equity. Mezzanine finance allows you to take senior debt up to 75% of the end value of a product, or 90% of the cost, leaving just 10% to be filled by equity. It gives you another sliver of debt, which allows you to better utilise your equity and typically generate a better return on investment.

Playing in the mezzanine

“Now critically for us, the litmus test for whether a developer should be using mezzanine finance or not, is that they should only be using it if they don’t HAVE to use it. And by that, I mean it’s not a substitute or a way to get a project off the ground, when you don’t have enough capital. It’s a means for you to release equity that you’d otherwise have in the project to better utilise elsewhere. You can release that opportunity cost of your equity and then you can go and acquire another site or utilise it for another purpose that will generate a better return on investment.”

Mezzanine finance effectively allows

By virtue of it being a higher risk,

“It wasn’t really seen as a genuine asset class before 2008. We had already been working hard in the advisory space and so could quickly adapt to be active in that mezzanine finance space. We were sourcing institutional capital and developing different strategies to operate alongside the banks. From there we built our mezzanine finance book to be the largest in Australia.”

The Interview: Mark Stevens

mezzanine finance is generally supplied at a higher rate. It’s important for developers to ensure that they are using this equity wisely; a greater return on investment needs to be realised than the mid-teen percent interest that mezzanine finance often incurs.

“It depends on the risk appetite of the developer, it depends on the idiosyncrasies of a particular project and what else the developer wants to do with their capital, but it definitely has a very pivotal role to play in Australian finance.”

Further market disruptions supporting the non-bank lender In 2015 and 2016, the Australian Prudential Regulation Authority (APRA) started to i mplement a series of dramatic controls on the banking sector. Brae and his team were well poised to seize the opportunity presented to them.

“APRA was basically forcing the banks to retreat from real estate lending, and this opened up a whole new opportunity for non-bank lenders to participate and actively fund credit worthy and strong developers.

Suddenly, rather than being another layer of finance behind the banks, we were at the forefront, competing against them.

“Once again, I think that we were fairly prescient in seeing that opportunity early.

We had lined up some very large institutional capital to participate in first mortgage lending – and we hit the ground running.”

Unregulated doesn’t mean uncontrolled Currently non-bank lenders are in a privileged position as they aren’t subject to the regulations handed down by APRA. Brae has gone so far as to say that he believes MaxCap is ‘future-proofed’, a position no doubt envied by many businessmen of any industry.

“The reason why I feel that we’re futureproofed in that regard is that we’re not a balance sheet lender, like the banks. We are an investment manager, which effectively means whilst we co-invest alongside our private institutional capital, we’re effectively representing that capital and investing on their behalf.

“If something happened to MaxCap (touch wood) and the business collapsed, the structure is such that you would just bring in a different trustee to manage that mortgage and the capital still stays afoot, still liquid,

The Property Development Review

and you’re funding your commitments.

“Whereas if a bank collapses, its balance sheet goes, and you can no longer fund your commitments. That’s why they have these capital ratios and rigorous safeguards around protecting and protecting their businesses because they’re directly lending the money, not acting as an investment manager as we are.”

Brae says that in time the regulatory regime will probably encompasses non-bank lenders, however MaxCap is not concerned either way as they have already put rigorous processes and controls in place.

As the sector grows, how does one stay at the forefront?

While most will acknowledge that the non-bank lending space was effectively non-existent a decade ago, things began to rapidly change following the 2015/2016 disruption. MaxCap saw a tectonic shift from banks to non-banks, with only a handful of established players ready to go from the very start. Soon, an influx of competition from domestic and global institutions would join the fray.

“The competitive advantage we had is that we already had an established brand name and we had very strong relationships with borrowers; which we had garnered through the advisory function the business started with. Through our mezzanine finance arm, we had also grown some strong relationships with top-tier developers. We had established our credentials.

“These relationships and our experience building relationships are what continue to hold us in exceptionally good stead.

The ability to fall back on your track record, the referrals you get by virtue of delivering on commitments to borrowers, and to have that certainty of funding, is invaluable in our industry. It’s what gives borrowers confidence, and that creates a very high barrier to entry.”

“There is no science behind relationships.

It’s about empathy, it’s about emotional intelligence, it’s about integrity, and ultimately, it’s about people enjoying your company and enjoying doing business with you. While you have to look at things through a commercial lens, if you have actually like someone and they’re offering you exactly the same as someone that you

don’t know and like, then you’re going to gravitate to someone to that person that you have actual affinity with.”

Return of the banks? The market?

The Mack?

Being involved with such a far reaching and varied audience of clients over the past 13 years has given Brae considerable insight to the future of Australia’s property development market. One point that Brae is decidedly certain about is that the banks will never get back to the oligopolistic position they held in commercial real estate debt in Australia.

“Prior to the GFC, the banks represented 87-88% of this type of debt in the country.

That’s come down to close to 70% and our in-house view is that this will erode further to around 50-60%.

“I see this as a good thing, it’s representative of a healthy debt market. You don’t want this homogenous bank product or the reliance on four major lenders, particularly when they’re disempowered by the regulators.”

While banks might not be returning to their former glory, Brae sees a very different story playing out for residential values in Melbourne and Sydney.

“Sydney hasn’t come off all that much, but obviously Melbourne has because it has been particularly hard hit by 2020. But I think we’ll see both cities bounce back in mid-2021 and then we’ll see a very strong recovery from that point on.

“I do have a very sanguine view of the market in this country generally.

However, for the asset classes that I’m uncertain about, that’s hospitality and office, I’m loathed to put a forecast on the next 12-24 months. Only to say that occupancy rates in office are going to be particularly slow to recover.

What post-COVID-normal looks like for large corporates and what the office space they’ll look to occupy, vis-à-vis where they were at pre-COVID, that’s the big question.

“There’s no doubt going to be a cultural shift in the way that employees interact with offices, and the amount of time people spend at home versus in the office; how that translates to demand for office space will be fascinating to watch in the ensuing years.”

07

The Interview: Allan Fife OAM

Allan Fife OAM CIO - Fife Capital

Allan Fife - Fife Capital’s birth, success and year-on-year growth “We’re in a ‘trust’ business; no trust, no business.

It’s as simple as that.”

Allan Fife OAM is the Founder & Chief Investment Officer of Fife Capital, where he is responsible for the performance of the group’s funds and investments. Leading the executive team, Allan is engaged in the evaluation of investment opportunities, structuring investment products for clients and meeting mandated undertakings of the company. His role demands an extensive understanding of the market, something that is not easily attained but upon which Allan has built a remarkable reputation.

Allan grew up in Wagga Wagga, where from a young age he had exposure to and involvement in the family business, Fifes Produce Pty Ltd. He spent his high school years at a boarding school in Canberra and went to university in Sydney, before moving back to Wagga in 1975, where he joined the rest of his family at their produce and logistics outfit.

It was during this time of further developing the family enterprise that Allan realised his passion was in real estate.

“Whilst we had undertaken some retail development and office development in Wagga Wagga, I wanted to broaden our family exposure to real estate.” Allan told Development Ready’s Rob Langton during a recent interview.

“That then took me to the north coast of NSW; I worked for a period in property development in Port Macquarie and soon I was back in Sydney with a job at Jones Lang Wootton.”

From Jones Lang Wootton (now JLL), Allan moved to Grant Samuel in 1990, where he established and led Grant Samuel Property until his departure in 2006.

With considerable property and finance experience behind him, setting out on his own was the natural next step; and thus, Fife Capital was born.

Watch the full Interview

A lesson in how to get through a crisis

“You’d have to question the wisdom of a man starting a financial services business at the front end of a financial crisis – but we made it work.”

They may have entered the waters during murky times, but Allan did not leave the dock without wind in his sails. He attests that Fife Capital was fortunate to have commenced with the support of some large investor families, from whom his firm received management control over some expansive investment portfolios.

“During the GFC, there was no sophisticated business plan, 08

there was no major strategy. It really was a case of head down, tail up. If somebody asked you for something, you’d say ‘yes’ and figure out how later.

“Our growth as a result has been steady from day one. Even through the GFC we were managing around 55% of organic growth per annum – and we’ve maintained that rate of growth ever since.”

Today, Fife Capital is composed of varying investment partnerships, primarily consisting of Australian pension/superannuation

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funds, with some European and American superannuation funds too. Fife also services a number of US university endowments, foundations, life insurance companies and a substantial group (around 25% of Fife Capital’s total portfolio) of international family offices.

Changing with the times At Fife Capital, nothing gets bought unless Allan agrees to it. His experience and industry savoir-faire are assets that Allan is both aware of and uses wisely.

“There’s an importance in remaining current within the market. You need to see the direction that the market is taking, and your analysis of a potential investment needs to be made on the basis of where you will see it in five- or 10-years’ time.”

This is the key to their enduring success. A ‘McKenzie Model’ advocate, Allan established Fife Capital with a philosophy of ‘three horizons’.

“First, we like to see that there is a ‘First Horizon’ value-add.

Then, that there’s a ‘Second Horizon’ of stabilisation. And then, that there’s a ‘Third Horizon’ or a third dimension.

If we can’t see that third dimension, we’re not particularly interested in making the first investment.

“We like to be able to see well into the future. If we’re acquiring an asset that is immediately capable of some improvement in its value, that’s great, but that alone won’t usually compel us to make the acquisition. We’ll be looking at what happens afterwards – does it have an afterlife? And does it have an afterlife to that?”

Fife Capital has from inception concentrated on logistics real estate. It’s an area that Allan’s family has dealt with for more than 50 years and is considered “a part of the DNA” of Fife Capital itself, constituting 75% of the portfolio. 22% is then allocated to office, with the balance being taken up by retail and a smattering of residential.

By his own confession, Fife has never been enthusiastic about retail. Allan recognised early on that retail premises rents were in excess of what the tenant could afford in the long term; a realisation that is coming to pass across the nation.

A market shake-up and shake-down Allan is renowned for his level of foresight, but even he was shaken by the impacts of the global health crisis over the past 12 months. As he describes it, the market is “distorted”, beyond its former comparable recognition, leading many into unknown waters and Fife Capital to re-evaluate its investment strategy.

has changed a lot over the past few months.

“Prior to Feb 2020, we had a balanced concentration on major logistic greenfield sites. We were relatively cynical about the concept of ‘last mile’, and we weren’t sure that it was even going to apply to the Australian market; whereas for instance in Singapore, we see that it’s a very relevant factor. For London too, just about more so than any other market, you’re either inside the M25 or you’re not.

“Then things started changing. In Australia now, particularly in Sydney and Melbourne, there’s been a significant shift toward hub-and-spoke distribution regimes, and ‘last mile’ facilities are becoming more and more significant.

“Over the next 12 months, we’re going to build our first multi-level logistics asset in Sydney and it will be set up as a last mile facility.”

Logistics Assets, Overseas Interests and Opportunity According to Allan, there is enormous interest in Australia at the moment from overseas investors. He points to numerous reasons for this; the stability of our governments both at a state and federal level; the relative power of our economy; and the handling of the health crisis and the social discipline that contributed to that. These are all “good stories”.

Allan also believes that Australia has significant capacity to increase its overall capital expenditure on infrastructure.

It’s from this stability that the foundations of a strong economy are formed – and in his opinion, this is what investors look for to determine potential growth.

“It’s not a case of if this economy will grow, it will grow – naturally. When you’re speaking with overseas institutional investors, these are the main themes that come up again and again. They want stable foundations and room to grow.”

Relaying information he recently secured from his former employer JLL; Allan divulged to Rob that the current demand for institutional grade logistics assets in Australia is about 30 times the output.

“For a business like ours, we would typically write 150,000 to 200,000sqm of new logistics asset a year. In 2020 we will have done in excess of 400,000sqm – that’s in a COVID year.

It’s reflective of the demand side, but it also demonstrates the significant limitations on the supply side.

“A lot of the premises being built are going into existing owner portfolios; Dexus or Stockland etc.

So there’s very little free float logistics assets available for external investors to participate with. And there’s opportunity in knowing this.”

“What we look for, in terms of logistics or industrial assets, 09

The Interview: Andrew Welsh

Andrew Welsh

MD - Wel.Co

From Green Ovals to Greenfields; Andrew Welsh chats about building communities and a successful 2020 Andrew Welsh brings as much foresight, determination and deft agility to the greenfield as he did when playing on the green field.

Following a 10-year career in the AFL, where he led the Essendon Football Club as Vice-Captain, Andrew decided to enter the construction and land development sector, working alongside some of Australia’s largest and most respected property developers.

“Property has always been a serious interest and passion.”

Andrew noted during a recent interview with Development Ready’s Rob Langton.

“I really enjoyed my time playing professional sport and there’s many crossovers and aspects that I can draw from now that I’m playing in the business world. Things like making decisions under pressure, and the importance of a real team environment to achieve a greater outcome.”

Andrew has always been a busy man and understood well that a career in AFL is often a short-lived experience. With an innate business acumen and a keen interest to further develop his understanding, he was able to leverage his

Watch the full Interview

position to open the doors to experience.

“I was very fortunate that during my AFL career I was able to use the football club networks to secure a few periods of work experience at some incredible companies.

I ate up every opportunity and realistically it improved my on-ground performance as I was maintaining a reasonably balanced life.”

The demand to build a community After founding the start-up Sitetech Solutions and

“At Wel.Co we work primarily in growth areas, both in regard to residential subdivision developments and commercial / retail assets; they’re the key components of what we do.

establishing it as a profitable enterprise, Andrew turned

“We’re seeing a lot more people move to these growth areas

his focus and dedication to property development and

and this is helping to bring these projects on a lot quicker

founded Wel.Co, a multifaceted development business

than we would have anticipated – the demand moving to

specialising in building Australian communities.

these markets is significant.”

10

The Property Development Review

The $1 billion Armstrong Creek Town Centre Wel.Co currently has five projects under way with a num-

because we’re only at stage one, we have the flexibility to adapt to the changes in demand that COVID has brought on.

ber in the pipeline. One of the most considerable of which,

“We’re about to start construction on our second stage

is the $1 billion Armstrong Creek Town Centre.

which includes a Dan Murphys a KFC and a Hungry Jacks.

“It’s interesting to see the circle of life through footy to where I am now. Around 15 years ago I spent a bit of time

We’re able to start accelerating those components thanks to the growing demand.”

working down in Armstrong Creek during the acquisition

Over in Thornhill Park, Andrew is heading up another

phase of the site with a guy named Mark Cassey. He was

large project, this time an enormous 3,000 plus lot

one of the cornerstones in pushing that precinct structure

master-planned community sitting 40km north-west of

plan and getting it rezoned into residential land.

Melbourne. In 2020, Wel.Co sold more than 400 lots and

“Then, as I started developing in my own right and the Wel.Co business started to grow, the opportunity arose to

titled upwards of 700 lots in the project alone; some might say in spite of COVID, some might say due to.

secure one of the town-centre sites. It’s since grown into

“The Homebuilders Grant has been instrumental to our

a big project for us, but more importantly for Armstrong

success in 2020. During what was a really challenging

Creek and that greater Geelong district.”

time we saw a lot of new eyes coming to the ‘growth area’

The Armstrong Creek town centre will encompass 15 years in total for Wel.Co, with Andrew and his team recently delivering the first stage. It’s a main street town centre model that Andrew compares to Rouse Hill in Sydney and Springfield Orion in South-East Queensland. Stage 1 of the project incorporates a Neighbourhood Shopping Centre anchored by Coles and 20 specialty stores.

Ultimately, Andrew believes that building a town centre and then attracting the residents is a more sensible approach to having the housing first but no infrastructure

market. It’s not investor driven, it’s not migration driven, it’s driven by people who have changed their perspective following periods of uncertainty and lockdown. Rather than be concerned about the getting to and from work, people are starting to compare small urban apartments with 400sqm of land where they have space for their family and their future.”

Into the new year and beyond While growth areas are Wel.Co’s bread and butter, Andrew sees the firm continuing to prosper through three key

to service the residents.

areas; regional Victoria, regional SEQ and partnerships.

“We think that the town centres can be a big driver of

“We’re going to continue to secure our pipeline through

residential sales. It helps motivate people to move to these growth areas. They’re looking at the developments and asking; what’s existing? What’s coming? And when is

self-owned sites – this is key to what we do. We own all of our projects to date and we’re on this path as we dive further into new markets in regional Victoria and South-

it coming?”

East Queensland.

“If you track the residential sale rates in the Armstrong

“But growth as a business is going to come through

Creek, their sales have been the best in the country – that’s not just this year but for the last three to four years. And now with people fleeing Melbourne for a variety of reasons,

partnering up with other groups; from joint ventures, and development management agreements where we supply our skillsets to a range of other parties under partnership

Armstrong Creek is continuing to grow astronomically.

type models.

This is good news for us as it means we can bring in the

“We’ve seen numerous firms who have bought

amenity a lot quicker than we could have done normally.”

very well, but then don’t have the skillsets around

The impact of a tumultuous year

execution. We are getting approached by a lot of groups who have found themselves in that

While Andrew openly admits that 2020 was a trying year,

position, which has encouraged us to uncover how

he recognises the considerable fortunes and opportunities

we can support these groups, whether it’s

that came his way because of it.

landowners or financial institutions that have

“Luckily with the scale of the Armstrong Creek project and

backed a purchaser.”

11

The Interview: Norm Rix

Norm Rix

Gold Coast Developer Norm Rix is one of the Gold Coast's most prolific property developers, boasting over 60 years of experience creating, designing, building and ultimately shaping the way the Gold Coast has transformed from what was once a sleepy village town to now becoming a major city.

Ready Media Group had the exclusive opportunity to sit down with Mr. Rix at his residence in the Isle of Capri to discuss his career, how the Gold Coast has changed and what legacy he wants to leave in the years to come.

Watch the full Interview

12

New South Wales Listings

The Property Development Review

SYD. 33.8688° S 151.2093° E

NSW

13

Property Listings

NSW

DA Approved Residential Dev 127-131 Bowden Street, Meadowbank NSW.

1,706 sqm* Site Area

DA Approved for 58 Apartments

450 m* to Train Station

Dual Street Frontage

Approved GFA of 4,274 sqm*

Close to TAFE & Future Schools

Linda Zhu 0488 082 909 Mark Litwin 0415 742 605 Dominic Ong 0468 969 298 View Listing 14

*Approx.

Auction 10.30am Tuesday, 2 March 2021.

Property Listings

NSW

The Property Development Review

velopment Site.

Architect Impression

Boundaries Indicative Only

15

Property Listings

16

NSW

Property Listings

NSW

The Property Development Review

Connecting people & property, perfectly.

244 - 270 Aldington Road, Kemps Creek NSW. For Sale by Expressions of Interest closing Thursday, 25 February 2021 at 4.00pm (AEDT).

Amalgamated 20 ha* offering

200,000 sqm*

IN1 General Industrial

Knight Frank is pleased to exclusively represent 244-270 Aldington Road, Kemps Creek, one of the last remaining raw land parcels available from the original landowners within the Mamre Road Precinct of Aerotropolis, NSW. Surrounded by existing transport infrastructure, the site benefits from ongoing announcements into future rapid transport links for road, rail and air networks.

Strategic location in pre-eminent precinct

ESH nominated

Superior access to existing transport network

Flexible settlement

•

Generous and flexible 20 ha* site area

•

IN1 General Industrial zoning permitting high value uses

•

Uplift from incoming access to future transport networks

•

Flexible settlement

•

Benefactor of $5.6bn Western Sydney Airport

Grant Bulpett 0415 558 226 Mark Litwin 0415 742 605 Angus Klem 0439 032 001

*Approx.

Key Property Highlights;

View Listing

17

Property Listings

NSW

DA Approved Coas Development Site

54 Gull Place, 35 Panorama Drive

Tweed Heads

DA-APPROVED COASTAL DEVELOPMENT SITE • Site area: 12,158m2 • DA approved for a boutique development of 127 residences • Premium apartment sales results being achieved in Northern NSW • Walking distance to Terranora Creek & famed ‘Seagulls Club’ • A short distance from the M1 Pacific Motorway, giving access both North to Brisbane and South to the lifestyle precincts of Cabarita, Byron Bay and beyond. The site sits only 10 minutes’ drive to the world-famous Kirra Beach and the Gold Coast International Airport

Expression Of Interest

Closing 5th March 2021 Unless Sold Prior

18

Property Listings

NSW

The Property Development Review

stal e

Jared Johnson Lachlan Marshall 0423 386 939 0426 259 799 j.johnson@coastal.com.au l.marshall@coastal.com.au

Mark Witheriff 0439 038 100 mark.witheriff@cbre.com

19

Property Listings

NSW

FOR AUCTION

DA APPROVED BOARDING HOUSE 102 Broomfield Street, Cabramatta

*Artist Impression

+ DA Approved for 3 Large Double Rooms + Managers Residence + Large 885sqm* land offering + Zoned R4-High Density Residential PUBLIC AUCTION SATURDAY, 13TH OF MARCH @ 10AM RAYMOND AHSAN 0434 666 411 ANDREW SUKKAR 0432 082 628

LORD DARKOH 0434 675 724

cbre.com.au/properties *approx 20

Property Listings

NSW

The Property Development Review

21

Property Listings

NSW

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.

DEMI CARIGLIANO Senior Executive, Knight Frank South Sydney

22

Visit DevelopmentReady.com.au

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

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

HENRY BURKE National Director, Colliers International

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

JOSEPH ASSAF Director, Ray White Commercial NSW

The Property Development Review

Targeted Leads

Lifetime Campaign Support

Transparent Pricing

Be Where The Buyers are.

Be Where The Developers Are. Access Australia’s most active developer & investor database.

Since 2015 we’ve cultivated a targeted and active audience-base to Access most active investor database. provide Australia’s each development site developer marketing&campaign with high volumes of qualified buyer leads. Every resource you need to generate targeted Since 2015built we’ve a targeted and active leads are intocultivated our marketing packages at the audience-base one transparenttocost. provide each development site marketing campaign with high volumes of qualified buyer leads.

Every resource you need Why be anywhere else? Be where the buyers are. to generate targeted leads are built into our marketing packages at the one transparent cost.

Why be anywhere else? Be where the developers are.

23

Victorian Listings

The Property Development Review

MEL. 37.8136° S 144.9631° E

VIC

24

24

Property Listings

VIC

The Property Development Review

Standalone office building with genuine upside For Sale 40 Barry Street, Carlton VIC

Expressions of Interest Closing Wednesday 17 March 2021 at 3pm

– Cutting 3-level commercial office building with secure basement car parking

Josh Rutman Michael Godfrey Mingxuan Li 李名轩

– Ultimate flexibility with short-term holding income, multiple configuration options and Capital City Zoning – Perfect for investors, owner occupiers and developers – Future-proofed location within the BioMedical & Education Precinct only 350m* from new Parkville Train Station

*(approx)

0411 27 37 46 0437 440 245 0498 688 998

property.jll.com.au/322056

Property Listings

VIC

No one else does it better.

Our iconic Portfolio Auctions are held every six weeks in Melbourne and Sydney, bringing together the very best commercial investments across Australia.

The numbers speak for themselves. Since COVID, Burgess Rawson has sold $574 million worth of property across 184 sales, making us the most active commercial agent in Australia.

Looking to invest or divest? Your first call should be to our expert team.

Burgess Rawson Melbourne, Sales Directors. (Left to Right) Shaun Venables 0411 860 865

Jamie Perlinger 0413 860 315

Adam Thomas 0418 998 971

Billy Holderhead 0422 817 696

Raoul Holderhead 0413 860 304

burgessrawson.com.au

Australia’s Property People

26

Property Listings

VIC

The Property Development Review

The Ultimate Investment Property Arena As restrictions continue to ease, and we take a collective sigh of relief that Australia is steadily reopening, there are certainly good economic indicators.

Our nation is technically out of the COVID recession; there is growing confidence that a vaccine will be available soon; GDP in the September quarter increased by 3.3%; and money remains cheap and readily available.

Burgess Rawson’s focus throughout the pandemic has been on essential service investments, which has made up 83 per cent of our sales.

Since COVID, Burgess Rawson has sold $574 million worth of property across 184 sales, making us the most active commercial agent in Australia.

Demand for liquor, supermarket, pharmacy, fuel, childcare and government investments, for instance, is more intense than ever and we can now demonstrate that there has been no COVID-19 related price deterioration in these sectors.

Demand for freehold investments leased to non-discretionary businesses has accelerated over the past 12 months, in particular with private ‘mum and dad’ investors looking for an alternative to the residential market attracted by greater security and longterm returns that commercial property provides.

There has been a clear distinction between properties where tenants have traded through COVID-19 and those that have not.

Despite a lot of broad brush negative commentary regarding the retail market, essential service businesses have been well placed to benefit from community lockdowns. Buyers are aware of this and recognize the ‘defensive’ qualities of these investments.

An example of this was our recent record breaking off market sale of Dan Murphy’s in Wangaratta.

We broke our own regional yield record in the large format liquor sector with the $8.1 million sale, reflecting an initial yield of 3.68% based on the estimated base rent or 4.34% including the estimated turnover rent.

After a near perfect success rate in 2020, Burgess Rawson has very few listings remaining from last year.

This huge, pent up demand will result in records being broken this year.

Burgess Rawson’s next Portfolio Auction is on Wednesday 24 February followed by our March Portfolio Auction on the 31 March at Crown Melbourne.

Visit burgessrawson.com.au for details.

27

Property Listings

VIC

ST CLARE’S PRIMARY SCHOOL

RITCHIES S U PA I G A

W YNDHAM VILL AGE SHOPPING CENTRE

B AY R D ESPLANADE

W AT S O N R D

LEAKES RD

Trophy Bayside Childcare Investment 10+10+10 Year Net Lease to 2050

High Performing Childcare Investment 15+10+10 Year Net Lease to 2054

Mount Martha VIC 4 Watson Road (corner Langrigg Road)

Truganina (Melbourne) VIC 451 Leakes Road (corner Forsyth Road)

+ Little Acorns: established provider with three Mornington Peninsula locations

+ Woodlands: highly regarded operator with two Melbourne metro locations

+ Fixed 3.5% annual rent increases/Tenant pays usual outgoings

+ Fixed 3% annual rent increases

+ Prime 1,040sqm* corner site

+ Purpose-built centre, licensed for 134 LDC places

+ Significant depreciation benefits

+ Strategic position only 500m* from St Clare’s Primary School and Doherty’s Creek P-9 College

+ Stunning 706sqm* double-storey centre, licensed for 80 LDC places + Net Income: $306,305 pa* + GST

28

FOR SY TH R D

+ Net Income: $398,775* pa + GST

Portfolio Auction 11am Wednesday 24 February, Crown, Melbourne

Portfolio Auction 11am Wednesday 24 February, Crown, Melbourne

Adam Thomas 0418 998 971

Natalie Couper 0413 856 983

Shaun Venables 0411 860 865

Natalie Couper 0413 856 983

Zomart He 何梓轩 0488 220 830

Adam Thomas 0418 998 971

High Quality Childcare Investment 15+10+10 Year Net Lease to 2055

Immaculate Medical Centre Investment Western Melbourne Growth Corridor

Ashmore (Gold Coast) QLD 56 Freda Street (corner Cotlew Street)

Truganina (Melbourne) VIC 341C Forsyth Road (corner Leakes Road)

+ The Cottage: boutique early education provider with 8+ years experience

+ Secure 7 year lease to 2026 plus options to 2039

+ Fixed 3% annual rent increases

+ Fixed 3% annual rent increases

+ Tenant pays all usual outgoings

+ Newly constructed (2019) 355sqm* premises

+ Recently updated facility, licensed for 46 LDC place

+ Complex supported by neighbouring dental, childcare & national tenants

+ Strategic 1,018sqm corner site, opposite Trinity Lutheran College’s (P-5)

+ Tenant pays all usual outgoings including management fees

+ Net Income: $131,790 pa* + GST

+ Net Income: $208,535 pa* + GST

Portfolio Auction 11am Wednesday 24 February, Crown, Melbourne

Portfolio Auction 11am Wednesday 24 February, Crown, Melbourne

Adam Thomas 0418 998 971

Shaun Venables 0411 860 865

Natalie Couper 0413 856 983

Zomart He 何梓轩 0488 220 830

Beau Coulter 0413 839 898

Property Listings

VIC

The Property Development Review

Australia’s #1 Agent Through COVID-19 Melbourne Auction: 11am AEDT Wednesday 24 February 2021

Dental Clinic Investment Prominent Position

Essential Medical Centre 7 Yr Lease Plus Options

Strong Bottlemart Liquor Investment

New 10 Year Lease Pizza/Cafe Tenant

Hampton Park (Dandenong) VIC Shop 1, 41-43 Kirkwood Cres

Hampton Park (Dandenong) VIC Shop 2, 41-43 Kirkwood Cres

Hampton Park (Dandenong) VIC Shop 3, 41-43 Kirkwood Cres

Hampton Park (Dandenong) VIC Shop 4, 41-43 Kirkwood Cres

+ 5 year lease to 2023 plus 2x5 years to 2033

+ 7 year lease to 2025 plus options to 2039

+ 7 year lease to 2024 plus options to 2034

+ New 10 year lease plus options to 2040

+ Fixed 3% rent increases

+ Fixed 3% rent increases

+ Fixed 4% rent increases

+ Fixed 3% rent increases

+ Impressive fit-out with 100sqm* floor area

+ Part of the Southern Cross GP network

+ 110sqm* premises with brand new fit-out

+ 97.5sqm* premises plus alfresco area

+ Net Income: $42,436 pa* + GST

+ Net Income: $42,436 pa* + GST

+ Net Income: $49,494 pa* + GST

+ Net Income: $40,000 pa* + GST

Auction 24 February, Melbourne

Auction 24 February, Melbourne

Auction 24 February, Melbourne

Auction 24 February, Melbourne

Zomart He 何梓轩 Shaun Venables 0488 220 830 0411 860 865

Zomart He 何梓轩 Shaun Venables 0488 220 830 0411 860 865

Zomart He 何梓轩 Shaun Venables 0488 220 830 0411 860 865

Zomart He 何梓轩 Shaun Venables 0488 220 830 0411 860 865

MCDONALD’S PORT ADELAIDE T R A I N S TAT I O N

PORT ADELAIDE PLAZA ALDI, COLES, KMART + S P E C I A LT I E S

KFC COMMERCIAL RD

Prime Freehold – Leased to Global Giant New 10+5+5 Year Net Lease to 2040

Renewed 5 Year Lease with Fixed 4% Increases Long Proven Performer Leased to Subsidiary of Coles

Port Adelaide SA 222-226 Commercial Road

Trinity Beach (Cairns) QLD Shop 7, 5-9 Rabaul Street

+ Annual 3.5% rent increases + ratchet provisions

+ Renewed 5 year lease 2026 plus option to 2031

+ Irreplaceable 855sqm* main road site with 16 on-title car spaces

+ Net lease with tenant paying usual outgoings

+ Strategic 307sqm* showroom, 85 metre* frontage

+ Liquourland wholly owned subsidiary of Coles Group market cap $24.21b

+ Wattyl: wholly owned subsidiary of Sherwin Williams Co – Fortune 500 Co with a market cap of USD$17.98 billion*

+ Fixed 4% annual rent increases

+ Net Income: $100,000 pa* + GST

+ Net Income: $93,667 pa* + GST (July 2021)

+ Proven 242sqm* premises, amongst NightOwl, Australia Post, medical etc

Portfolio Auction 11am Wednesday 24 February, Crown, Melbourne

Portfolio Auction 11am Wednesday 24 February, Crown, Melbourne

Adam Thomas 0418 998 971

Raoul Holderhead 0413 860 304

Shaun Venables 0411 860 865

RLA 293472

Matt Wright 0413 830 707

29

Property Listings

30

VIC

Property Listings

VIC

The Property Development Review

Accelerating success.

Artist impression

Office / Hotel Development For Sale by Expressions of Interest closing Wednesday 10 March at 12pm 422 Little Collins Street, Melbourne

Strategic location Prominent office between Collins building NLA St & Bourke St 5,494.50m²*

Permit approved luxury hotel development

colliers.com.au/p-AUS66011928 *Approximate figure STCA Subject to Council Approval

Large site area 956.60m²* and flexible zoning

Suit developer, investor, owneroccupier

Colliers International are delighted to offer for sale 422 Little Collins Street, Melbourne. The prominent 10 storey office building occupies a strategic location in the heart of the Melbourne CBD between Collins Street and Bourke Street.

Offered for sale with plans and permit approval for a luxury hotel development comprising 239 rooms over 22 levels. Benefiting from a large land area and flexible Capital City 1 zoning a variety of other development outcomes may be explored including residential apartments, build to rent or education (STCA).

Matt Stagg 0409 411 300

Oliver Hay 0419 528 540

Guy Wells 0405 612 416

Daniel Wolman 0412 957 839 colliers.com.au

31

Property Listings

VIC

ARTIST IMPRESSION

BOUNDARY INDICATIVE ONLY

PERMIT APPROVED LANDHOLDING IN PRESTIGIOUS KEW 365 Cotham Road, Kew VIC l For sale via onsite auction Thursday 11th March 2021 at 12:30pm + + + + + +

1,259sqm* corner landholding with 75m* of street frontage Permit approval for 14 premium apartments, many with large balconies or rooftop spaces, designed by Ewert Leaf Architects Outstanding view potential being one of the highest points in Kew Located in Kew, one of Melbourne’s most sought after residential locations with a median house price of $2,350,000* Proximity to a number of highly successful apartment projects identifying market demand Tram at your doorstep, and walking distance to a number of major suburban retail centres

Chao Zhang M +61 411 625 068

32

Julian White M +61 422 764 137

*approx

Property Listings

VIC

The Property Development Review

First-Class Development Location

33 Whitehorse Road, BLACKBURN, VIC • Area: 892 m2 (*approx) • Commercial, Residential, Townhouse Site • Development Approved: Residential Development Opportunity (STCA) Resting on a generous 894sqm approx. of land, this is a highly-sought neighbourhood or a multiple new townhouses development (STCA).

Exceptionally located moments from bus services with rail links, zoned for Laburnum Primary and top-ranking Box Hill High School, with seamless access to the Eastern Freeway, Laburnum and Blackburn Station Villages, local parks, Box Hill Central, Hospital and TAFE. For more information contact

Rohan Calder Carmelito Deleon

0422 256 948 0406 720 122

33

The Missing Middle - a societal problem and a market opportunity

Author: Gaurav Rajadhyax

a vege patch in retirement, a reality. Even the smallest apartments have generous 8m2 terraces of a proportion that will accommodate

A new generation of market-responsive medium density suburban

a decent sized outdoor table and chairs, with most terraces ranging

housing projects are proving that a more considered approach to

between 9-12m2. The majority of apartments ranged in price from

the composition of net saleable area can be a win for property

$400,000 for a one bedroom apartment to $750,000 for a two bed-

developers. With property values continuing to grow even through

room, with the two largest apartments coming in a little higher again.

the economic disruption of the COVID-19 pandemic, the need to provide more affordable, yet liveable medium density housing options throughout Australia’s suburbs has never been more crucial.

Sean Wang, Development Manager at H1land Group explained how this market driven approach was the key ingredient for commercial success, “We were able to secure finance with one of the major banks

There are practical limits to greenfield sprawl and the drawbacks

at a time when developers were resorting to mezzanine finance

of underserviced outer urban residential communities have been

solutions. Bank valuations matched the sales price for 37 out of 40

well-documented. Densification of middle ring suburbs provides an

of the apartments in the building, which was extremely positive at a

alternative to sprawl, but while in the past property development

time when apartments were suffering declining values.

projects have been driven by overseas investors, the market is

We also sold over 90% of the apartments during Melbourne’s

increasingly turning towards fulfilling the needs of the myriads of

COVID lockdown”.

potential local purchasers. The market opportunities presented by local downsizers as well as first home buyers and young families

Endeavour Hills Community

who are seeking to get a foothold on the property ladder are

Another project we currently have in concept development is a

beginning to get the consideration they deserve.

medium density townhome community in Endeavour Hills, a

My practice, R Architecture has recently had the opportunity to work on two projects that illustrate this trend.

community on Melbourne’s low-density outer south-eastern fringe, 35km from the CBD. Situated on a large site adjacent to a golf club, this project eschews single-residential sprawl and looks to provide a

Mercuri Apartments

more affordable, medium density housing typology.

The debut project for H1land Group, Mercuri Apartments is a four

Designed with families in mind, these three and four bedroom

storey building comprising 40 generously proportioned apart-

townhomes prioritise generous internal areas and connection to

ments. Situated in Carnegie, a suburb with a growing population 15

large, shared outdoor spaces. The townhomes will incorporate

kilometres from Melbourne’s CBD, Mercuri proposes a way forward

ground floor bedrooms to cater to multi-generational households

for exceptional, affordable higher density living embedded within a

that may include frail family members.

traditionally suburban locale.

Incorporating 16 townhomes on a site that could easily have

Mercuri is a study in knowing your local market with the developer

accommodated 18, significant areas of the site are given over to

doing their research to understand buyer demand. This resulted in

shared recreational space. Arranged in two rows of 8, the internal

the identification of young professionals, young families and

circulation space incorporates a playground at one end and a

downsizers as key target markets. My team developed a range of

communal garden at the other. The playground in particular is

highly liveable apartment typologies with this in mind.

securely positioned for passive surveillance and separate from

The number of one bedroom apartments was limited to a total of

vehicular movements.

12, with the remaining 28 two bedroom apartments ranging

With pitched roofs and lightweight materiality such as weather-

from 69 - 100m2 of internal space. Every home is characterised by

board informed by the conventional detached homes surrounding

abundant access to natural light, ventilation and outdoor space.

the site, the design is a contemporary addition to the streetscape.

The largest apartments are found at the ground and fourth floors

While this project is still in development is a great example of

where courtyards of between 58-88m2 and terraces of between

community-oriented medium density development in a greenfield

14-23m2 make apartment life with a young family, or maintaining

context.

Gaurav Rajadhyax Bio Gaurav Rajadhyax is director and founder of architecture practice, R Architecture. During his 15 years as an architect, he has worked with some of Australia’s leading architecture practices on large, complex multi-residential, education, retail, and heritage projects.

Gaurav specialises in working with developers as well as early learning centre operators and educators to undertake site selection, feasibility, design and delivery of contemporary early learning centre facilities.

R Architecture is currently undertaking projects in Sydney and Melbourne.

34

The Property Development Review

Endeavour Hills Community

Mercuri Apartments

35

Property Listings

VIC

A BLANK CANVAS 320-322 Racecourse Road, Flemington, VIC, 3031 Golden opportunity to acquire this prime property offering in the heart of the vibrant and cosmopolitan Racecourse Road Shopping Precinct.

• • • • • • •

Land area - 916 sqm (approx) Building Area - 508 sqm 14+ secure on-site carparks Approved permit for 6 level mixed use development Highly desirable Commercial 1 Zone (C1Z) Multiple front and rear access points Realistically priced to sell

Occupy with an eye to the future Develop now this large main road site with permit in place. The choice is yours!

For more information contact

Paul Sberna David Gibellini

0414 315 728 0419 473 504

VIEW LISTING

For Sale: 91 Williamsons Road, South Morang VIC 3752 EOI Closing: Wednesday 17th February at 3pm Andrew Greenway — 0409 547 626 Danny Clark — 0448 066 889 36

Substantial development opportunity situated within a high demand residential market, the property will suit a host of end uses including new homes, town houses, multi-level residential, aged care and more (STCA).

– – – –

Large landholding of 27,990sqm (2.799ha)* 120m* frontage to Williamsons Road plus abutting Findon Road Extension at rear (due for completion mid-2021) Flexible zoning – Mixed Use (MUZ) Located opposite Marymede Catholic College

Property Listings

VIC

The Property Development Review

Melbourne CBD office building complete with unrepeatable permit for a world-class luxury project hits the market 63 Exhibition Street comes to market as appetite for east end CBD commercial assets far exceed the supply of opportunities As pent-up buyer demand reaches fever pitch following Victoria’s extended shutdown period, a major east end commercial office building with an unrepeatable luxury permit approval is being offered to the market as part of an international sales process.

63 Exhibition Street was recently approved in May this year for one of the City’s most striking and high-end developments, featuring a plot ratio of 33:1 – a feat that is no longer achievable under existing planning controls. Designed by renowned architects, Bates Smart, the 52-level mixed use tower comprises a diverse mix of high-end residential accommodation as well as a 6-star hotel to service the chronically undersupplied east end market.

Situated on a prominent East End landholding with frontages to Exhibition Street, Strachan and Chester Lanes, the property is located within Australia’s most prominent CBD junction of Collins and Exhibition Streets, in the company of Dexus’ 80 Collins Street and the recently approved 60 Collins Street office development, st’s Impression101 Collins Street, and AMP’s Collins Place.

in today’s market,” commented Associate, Piers Jalland, “particularly when the existing improvements alone present a strong investment proposition in the eastern core for any discerning investor.”

In line with some of the most successful luxury residential towers in Spring Street and surrounding areas, the upper levels of the new development will incorporate some of Melbourne’s most high-end full floor residential apartments, which with the eastern core’s being the highest geographical point of the CBD, will give the 209 metre tall development outstanding views across the Yarra River and Royal Botanic Gardens. The high-end residential market has shown significant resilience during the pandemic and is poised to emerge from the pandemic relatively unscathed because of strong underlying demand, experts say.

63 Exhibition is situated at the heart of the pre-eminent hotel precinct of the Melbourne CBD, serviced by ‘Paris-End’ Collins Street retailing and amenities, premiere entertainment, exceptional connectivity, and access to leading sporting venues and events such as the MCG and the Australian Open.

63 Exhibition Street, Melbourne It is anticipated that well located hotel accommodation will see

The property is owned by Salta Properties, who are focusing on their broader industrial and office development pipeline, and have exclusively appointed JLL’s Josh Rutman, Piers Jalland, MingXuan Li and Peter Harper to manage the transaction.

substantial growth as corporate travel, tourism and visitation numbers normalise over the next 24-36 months.

AN A N I D E A L LY JLL’s Managing Director - Hotels and Hospitality Group, Peter Harper, said, current of hotel and U N R E P E ATA B L E PR O“The PO R Tlevel IO N Einvestment D development activity is a clear indicator of just how highly regarded M I XJLL’s ED EVE L Oand PM E N T Investments- CMelbourne O M Mis E RCI A L OFFICE Head D of Middle Markets Metropolitan by the global community. Hotel operators from around (VIC), Josh Rutman said, “The eastern core of Melbourne’s CBD the world willB beU attracted as the east end market A P P R O VA L I L Dto IthisNopportunity G has long been a recession-proof pocket of the city which, regardless of market cycles, continues to attract some of the world’s most prolific investors and developers. Opportunities for high density Permit approved a held 52 level sqm development in thisfor tightly pocket29,173 have been minimal in recent years due purely to the lack of remaining, unencumbered GFA tower development sites available for purchase.”

Exceptional views across the Yarra River

Formerly known as Citicorp House, the property is improved with

andanRoyal existingBotanic and highlyGardens distinctive 13-level commercial office

building, which was constructed in 1969 and extensively refurbished in 2003. The building totals 6,135 sqm of Net Lettable Area and is currently 74% leased providing a strong initial income stream for the future owner.

is nigh on impossible to gain a significant presence.”

“We anticipate that 63 Exhibition Street will draw global interest

6,132 sqmofNLA with significant value-add from many the larger global mixed-use developers for what could be one of modern Melbourne’s most iconic towers for generations potential to come,” Mr Harper said.

1.5-Star Energy Rating As a sign ofNABERS the depth of buyer interest and nature of aggressive capital seeking a foothold in the Eastern Core of the CBD, Dexus’ $1.476 billion acquisition of 80 Collins Street and $210 million acquisition of 52 & 60 Collins Street made a very bold statement about the institution’s intentions. Other major recent transactions include Anton Capital’s $112.5 million acquisition of 85 Spring Street, and the nearby heritage 4-storey Louis Vuitton building to a Singaporean investor for reportedly $65 million, well in excess of initial expectations of around $50 million.

All within a highly enviable Paris End location “The ability to refurbish the existing office building and drive International of Interest significant rental growthExpressions reversion, complemented by the brand closing new development permit, are highly attractive and flexible features

Thursday 18 March 2021

Josh Rutman 0411 27 37 46

Piers Jalland 0400 012 891

Peter Harper 0412 560 246

MingXuan Li 李名轩 0498 688 998

ABOUT JLL JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

Scan to discover more For further information, visit jll.com Contact: Josh Rutman Phone: +61 411 273 746 Email: Josh.Rutman@ap.jll.com

W W W. E A S T 6 3 .COM . AU

figures approx

37

Queensland Listings

BNE. 27.4698° S 153.0251° E

QLD 38

Property Listings

QLD

The Property Development Review

NIELSENS ROAD, CARRARA DA FOR 270 RESIDENTIAL UNITS — CENTRAL TO EVERYTHING FOR SALE EXPRESSIONS OF INTEREST CLOSING THURSDAY 25 FEBRUARY 2021

OUTLINES INDICATIVE ONLY

Land area 10.86ha

Approval for 270 residential units

Convenient Short drive amenity to major within walking infrastructure distance

Pat Cavanagh 0415 261 339 Steven King 0417 789 599

James Stevenson 0498 121 165

39

Property Listings

QLD

Accelerating success Reach more people – better results faster.

MAJOR SUNSHINE COAST INDUSTRIAL SITE WITH IMMEDIATE DEVELOPMENT UPSIDE FOR SALE – EXPRESSIONS OF INTEREST CLOSING WEDNESDAY, 3RD MARCH AT 4PM 9 Quanda Road, Coolum Beach, QLD, 4573 – 7.42 hectares (*Approx) – Holding income of $595,000* – Immediate development upside - Opportunity to take advantage of the limited future land supply in Coolum Beach

– Close to Sunshine Coast Airport – Located in the Coolum Industrial precinct, only 1.7km to Sunshine Motorway, 20km to Maroochydore CBD & Noosa Heads

– Substantial infrastructure and improvement in place

View Now Nick Dowling 0419 726 705

Ben Flower 0488 773 033

Accelerating success Reach more people – better results faster.

CENTRAL SUNSHINE COAST INDUSTRIAL SITE WITH DEVELOPMENT APPROVAL FOR 4,788SQM GFA FOR SALE – EXPRESSIONS OF INTEREST CLOSING WEDNESDAY, 24TH FEBRUARY AT 4PM 1-2 Kessling Avenue, Kunda Park, QLD, 4556 – 8,305sqm (*Approx) site with two street frontage – Development approval for 4,788sqm (*Approx) – Currently improved with two freestanding sheds totaling 670sqm* – Zoned Low Impact Industry. Located in one of the Sunshine Coasts’ most popular industrial precincts – 15 minutes to Maroochydore CBD & 5 minutes to Bruce Highway – Suited to both owner occupiers and developers – Take advantage of limited new industrial unit stock in Kunda Park market.

View Now Nick Dowling 0419 726 705

40

Ben Flower 0488 773 033

Property Listings

QLD

The Property Development Review

Accelerating success Reach more people – better results faster.

WATERFRONT SUNSHINE COAST RESIDENTIAL DEVELOPMENT SITES

EXPRESSIONS OF INTEREST Closing Thursday 11th March at 4pm Lots 930 & 931 Central Boulevard Birtinya QLD

View Now

– Lot 930 - 4,573sqm (*Approx), Lot 931 - 4,403sqm (*Approx) – 8 storey height limit – North easterly water aspect – Permitted uses include Multiple Dwelling, Motel, Aged Care, Retirement – Allocated Yields from 80 – 81 units – Fully serviced level sites – Significantly discounted Infrastructure Charges as part of Master-Planned Community – Walk to retail, dining & medical – 1km* to Birtinya Shopping Centre tenanted by Coles, Aldi + specialty and dining

Nick Dowling 0419 726 705

Baydn Dodds 0418 173 187

colliers.com.au 41

Property Listings

QLD

74 Stewarts Road, Pimpama

FOR SALE

First Time In Over 100 Years. 288 Acres Of Land Available • Stewart family property on Stewarts Road, Pimpama between Brisbane and Gold Coast in the growth corridor • Stone's throw away from Ormeau Station and a few minutes drive away from full on/off M1 junction • Rare large 116.5 Ha (288 acres) parcel of blank canvas • Close to the planned Coomera Connector - alternative to the Pacific Highway M1 • Suit variety of use subject to permissions • Close to local shops, schools and fast developing amenities • Inspection strictly by appointment, no trespass as property is occupied and produces holding income

PRICE:

Expressions of Interest Close 26 February 2021

LAND AREA:

116.56 ha

Location Pimpama is a suburb on the northern Gold Coast, located 30 kms from Surfers Paradise and 48 kms from Brisbane, in the much-touted Brisbane-Gold Coast 'growth corridor, This site is located on the fringe of the existing settlement.

Kerry Armstrong 0403 054 844 karmstrong@ljhc.com.au 42

John Barter 0418 632 326 jbarter@ljhc.com.au

Mumtaz Saleem 0405 669 264 msaleem@ljhc.com.au

Property Listings

QLD

The Property Development Review

A Rare 165 HA Offering Within Strategic SEQ Growth Corridor.

“There are very few properties of this size and location left

in fact it will be nestled between the highway and the

to come onto the market.”

future Coomera connector, once that infrastructure project

LJ Hooker Commercial’s Kerry Armstrong noted during a

is complete.” Mr Armstrong added.

recent interview with Development Ready’s Rob Langton.

With an array of future uses possible, this unique

“With the Brisbane to Gold Coast corridor rapidly evolving,

market offering is expected to draw consideration from

we’re anticipating significant interest to come in for this

a varied group of potential purchasers. Developers

Pimpama farm.”

may wish to pursue large scale residential, essential

“

services, a major sporting facility, schools or any number

landholdings such as the Stewart Road farm are going to become few and far between

“

74 Stewarts Road Pimpama was first settled 117 years ago in 1904 by Robert and James Stewart. The founders not only bestowed their namesake to the address, but also raised 12 children on the property. Today, there are many descendants of this early Australian family, with the trustees deciding that it was now an appropriate time to place the estate on the market.

“Still operating as a working farm, this 116-hectare landholding is situated 35 kilometres north of Surfers

of alternative projects.

The landbank capabilities for this still operating farm are also enticing, thanks to its prized located within one of Australia’s most dynamic and rapidly growing corridors.

“As appetite across South-East Queensland grows for strategic growth opportunities, landholdings such as the Stewarts Road farm are going to become few and far between. This is a remarkable opportunity for astute investors to secure a property that not even a century’s worth of transactions ever saw.

“The sales campaign runs for five weeks and will be ending on Friday 26 February. For more information, interested parties can speak to us through the agency contact details or by communicating directly with DevelopmentReady.

Paradise and 46 kilometres south of Brisbane’s CBD. It’s neatly positioned near the M1 Pacific Motorway, and

“Don’t wait another 117 years!”

43

Property Listings

QLD

For Sale: 80 Tryon Street, Upper Mount Gravatt, QLD,4122 SIGNIFICANT DEVELOPMENT APPROVAL

– Land area 12,053 sq m2 (*approx) – Existing circa 9,370sq m building – Returning over $1M per annum – Occupied investment property with additional potential – Existing student accommodation facility with 304 beds and 130 undercover car parking bays – Just 13km* south of the Brisbane CBD and 400m to the Garden City Shopping Centre & Transport Interchange

Robert Dunne 0418 888 840

Will Carman 0477 666 355

More Exposure More Competition Record Prices 44

– Development potential up to 6 storeys or 8 storeys for residential care facility or retirement facility usages

VIEW LISTING

Property Listings

QLD

The Property Development Review

For Sale: 39 Abbotsford Road, Bowen Hills, QLD,4006 APPROVED DEVELOPMENT FOR 136 APARTMENTS

– Area: 4092 m2 (*approx) – Type: Residential, Units – Approved development for 136 apartments over 2 stages – Council Approved DA for 13,202 sq m* of Gross Floor Area (GFA)

– Located directly opposite the Bowen Hills Train Station and just two train stops from the Central Train Station

– Fully serviced and conveniently located to a range of local facilities and amenities & the Royal Brisbane Hospital

– Development opportunity with a point of difference.

Robert Dunne 0418 888 840

Will Carman 0477 666 355

More Exposure More Competition Record Prices

This inner city approved development project is building on the local legacy by respecting the existing heritage components and creating a safe, vibrant and welcoming space people can call home

VIEW LISTING

45

Property Listings

QLD

BEACHSIDE FREEHOLD INVESTMENT

Coolum Beach, 1788 David Low Way

AUCTION On-site 2pm Friday 26 February 2021 • • • • •

494m2* lettable area on 769m2* corner site 3 commercial tenancies + 6 residential tenancies Potential net annualised return $221,886* 3 street exposure and car parking at rear Premium redevelopment opportunity

OPEN FOR INSPECTION: 12 Feb: 1pm – 1:30pm 19 Feb: 1pm – 1:30pm 26 Feb: 1:30pm – 2pm (auction at 2pm)

Tracey Ryan 0421 981 490 tracey.ryan@raywhite.com

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

* Approx.

raywhitecommercialnoosasunshinecoastnorth.com

89.85* Acres in 3 titles - Prime Development Opportunity!

“Oaklands” Costello Road CABARLAH Set on 89.85* acres in three titles, ‘Oaklands’ lends itself to further development as a premier lifestyle estate (subject to TRC approvals), with town water close by, recent upgrading of power and three road frontage. To be sold as an aggregation or separately, subject to negotiation. Don’t miss this one!

raywhiteruraltoowoomba.com.au 46

• 3 road frontage, 2 with bitumen • Current town water connection agreement • Town water nearby - end of Evans & Horn Rd • Lot 55 DAR 6214 = 16.187*ha / 40* acres • Lot 56 DAR 6214 = 16.187*ha / 40* acres • Lot 371 D3414 = 3.986*ha / 9.85* acres

Sale Expressions of Interest Myles Cosgrove 0419 271 247 myles.cosgrove@raywhite.com Lindsay Southwell 0402 059 985 lindsay.southwell@raywhite.com

Property Listings

QLD

The Property Development Review

Residential Portfolio Opportunity, Refurbish or Redevelop.

Sugarworld Estate, Glen & Heights Precincts, Edmonton QLD.

Sugarworld Estate is a master planned mixed use development that has been meticulously planned and progressed by the current owner over the past 15 years.

– – – –

For Sale: $15 million plus GST if applicable Area: 252,850 m2 (*approx) Type: Residential, Greenfield / Land Site Development Potential: Raw Development Opportunity (STCA)

Site area 252,850 sqm*

Create a World Class Development

For Sale Please contact the agent for a copy of the Information Memorandum.

Greg Wood 0418 772 555

View at knightfrank.com.au

EOI

VACANT LAND IN MAROOCHYDORE CBD QLD, Alexandra Headland: Lot 700/123 Sugar Road

* Approx

RARE IN-FILL DEVELOPMENT SITE + Secure one of the last Specialised Centre Zone development sites only minutes away from the new Maroochydore CBD & Sunshine Motorway + Area: 6,753sqm* + Zoning: Specialised Centre Zone (includes care-takers accomm; showroom; place of worship; indoor recreation; veterinary services; outdoor sales; warehouse; funeral parlour\ crematorium; parking station; community use; emergency services) + Existing approval in place for “outdoor sales” use + Short drive to Sunshine Coast Airport from the most central location on the entire Sunshine Coast

FOR SALE BY EXPRESSIONS OF INTEREST CLOSING WEDNESDAY 17TH MARCH 2021 GLEN GRIMISH +61 408 288 517 MATT MARENKO +61 409 355 123

cbre.com.au/properties *approx

47

Property Listings

QLD

202 Preston Road, Manly West

AUCTION

Immediate Sale Required. Freehold Shops With Massive Development Potential • Disregard all previous pricing. Clear instructions to sell • Prime Main Road exposure to thousands of cars daily • Rare opportunity to secure freehold land with two existing retail shops • Previous DA Approved for 12 Residential Units and Ground Floor Retail (currently expired) • Surrounded by residential and commercial developments • Neighbourhood Centre Zone - mix of land uses to service residential, such as small scale convenience shops, professional offices, community services and other uses that directly supports the immediate community.

• Minutes from the harbour, school, train, bus • Multiple possibilities with the property. Invest, Occupy, Re-Develop (S.T.C.A) • Shop 1 leased at $1,840 per month plus GST, Shop 2 (Vacant) • The owners have provided clear instructions to sell via Auction on 26 February 2021, 11am (unless sold prior) • Contact Exclusive Agent Manoli Nicolas on 0400 082 170 for inspection today.

PRICE:

Auction: 26 February 2021 11am, In rooms LJ Hooker Commercial Brisbane

BUILDING AREA:

170 m²

LAND AREA:

810 m²

Location Manly is an eastern beachside suburb of the City of Brisbane, Queensland, Australia. Manly is located approximately 19 km (12 mi) east of the Brisbane central business district.

48 Surrounding suburbs are Wynnum (to the north), Lota to the South and Manly West (to the west). To the east lies Moreton Bay.

Manoli Nicolas 0400 082 170 mnicolas@ljhc.com.au

Property Listings

QLD

The Property Development Review

UNFORESEEN CIRCUMSTANCES FORCE SALE OF 3,298M2* BLOCK^

Labrador, QLD 54-60 Government Road & 77-79 Broad Street

AUCTION

Thursday 18 February 2021 at 11.00am Gold Coast Turf Club, Bundall • • • • •

•

Highly motivated seller has over committed elsewhere 3,298m2* of prime corner development land 121m* of street frontage on the highly utilised main road 6 entire blocks to be sold in one line Potential for 51 apartments or 19 Townhouses STCA^ (Medium Density Residential) Immediate sale - Will be sold! *Approx. ^S.T.C.A

Victor Tauch 0466 679 321 Jackson Rameau 0438 451 112

^ Subject to Council Approval

View Listing

raywhitecommercial.com.au 49

Be Where The Developers Are.

Access Australia’s most active developer & investor database.

Since 2015 we’ve cultivated a targeted and active audience-base to provide each development site marketing campaign with high volumes of qualified buyer leads. Every resource you need to generate targeted leads are built into our marketing packages at the one transparent cost.

Why be anywhere else? Be where the developers are.

50

Report WA Quarterly Western Australia Listings

The Property Development Review

PER. 31.9505° S 115.8605° E

WA

51

Property Listings

WA

Australia’s Property People

Offers Invited

* Approx boundary only

* Approx boundary only

Childcare/ Medical Development Opportunity Currambine 16 Sunlander Drive + Part or whole of site available for purchase + 8,106sqm* + Flexible Uses + Adjoining proposed Coles supermarket + Aged Care + Residential development Offers Invited Closes 2pm (AWST) Wednesday, 10th March 2021

burgessrawson.com.au

52

+ 2 kms* from Currambine Market Shopping Centre + 350m* from Train Station + Titles due mid-2021 + Excellent access to freeway North and South Chris Tonich 0411 774 168

ctonich@burgessrawson.com.au

Christopher Carcione 0415 393 082

ccarcione@burgessrawson.com.au *Approx

Property Listings

WA

The Property Development Review

Accelerating success Reach more people – better results faster.

LANDMARK DEVELOPMENT SITE, GATEWAY TO WESTFIELD BOORAGOON

EXPRESSIONS OF INTEREST Closing Thursday 4th March at 4pm Proposed Lot 404 Andrea Lane, Booragoon, WA, 6154

Wayne Lawrence 0434 650 853

View Now

– 2,478sqm* lakeside corner site (*Approx) – 10 storey height limit – Wide range of permitted uses Proposed Lot 404 Andrea Lane, Booragoon occupies a location on the corner of Andrea Lane and Marmion Street which forms the southern entrance to Westfield Booragoon (formerly Garden City) Shopping Centre, Perth’s premium fashion, dining and entertainment destination.

The site’s zoning allows a number of possible uses including offices, apartments, medical, aged care, retirement living and childcare. The property benefits from being just 250m from Booragoon Bus Station linking to Bull Creek Train, providing quick and easy access to Perth CBD, Murdoch University and Fiona Stanley Hospital.

Tory Packer 0434 659 909

colliers.com.au 53

The Deague Brothers

The Simonds Family

Watch Exclusive Interviews w

54

Stefan Giameos

The Pellegrino Family

Scott Hutchinson

Mario Salvo

The Property Development Review

Danny Ciarma

Bill Moss AO

ith Industry Leaders Online.

Nigel Satterley

Don O'Rorke

Mark Wizel

Michael Cook

55

55

SA South Australia Listings

Property Listings

ADL. 34.9285° S 138.6007° E

SA 56

Property Listings

SA

The Property Development Review

Prime Hutt Street investment For Sale 175 Hutt Street, Adelaide SA

For Sale by EOI closing Thursday 11 March 2021 at 4pm

– Securely leased to three tenants

Jed Harley Roger Klem

– Fully refurbished building of 328sqm* – Net income of $165,550pa* – Corner site in the best part of Hutt Street

0418 807 920 0423 919 373

property.jll.com.au/323074

– Passive ‘set and forget’ investment

*(Approx.)

RLA1842

57

Property Listings

SA

Accelerating success.

Outlines indicative only

Healthcare & Retirement Living Well configured accommodation facility on expansive land holding For Sale by Expressions of Interest closing Thursday 4 March 88-94 Robert Street, West Croydon, SA











Strategic land holding of 2,787m2*

4 Certificates of Title

46 beds across single and double rooms

60.96 metres frontage to Robert Street

Suit repositioning for accommodation use or residential development

Offered with vacant possession, the property currently operates as a residential care facility with the residents due to relocate in early 2021. The property occupies an outstanding land holding across four (4) contiguous Certificates of Title with substantial accommodation improvements in Adelaide’s highly desirable and cosmopolitan inner north western suburbs. The property will appeal to developers seeking to redevelop the site for residential development and operators seeking to reuse the extensive and adaptable building improvements for ongoing accommodation use.

colliers.com.au/p-AUS660011828

Justin Hazell 0414 232 022

*Approx.

colliers.com.au

Accelerating success.

High Exposure Development Site For Sale by Expressions of Interest closing Thursday 11 March Lot 41 Dyson Road, Lonsdale SA

56,097sqm* of land

293* metres of frontage to Dyson Road

Zoned Urban Employment

colliers.com.au/p-AUS66011880

1 Certificate of Title

Development Plan Consent for Bulky Goods precinct

Lot 41 Dyson Road represents one of the most significant development opportunities in Adelaide’s southern suburbs. With high profile exposure, the property is ideally positioned on the Dyson Road outbound track and offers a blank canvas for the prospective developer, value driven owner occupier or astute investor.

Comprised of 1 Certificate of Title, the 56,970 square metre* land holding is prominently positioned With 293 metres* of valuable Dyson Road frontage.

The property’s location, exposure, access and development potential is outstanding.

Jordan Schmidt 0403 422 762

Alistair Mackie 0412 817 977

Paul Van Reesema 0412 806 994 colliers.com.au

58

Property Listings

SA

The Property Development Review

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

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

Click for More Info

59

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

GEORGE BURBURY Director, Knight Frank Hobart

OFFERING EXCELLENT VALUE IN TERMS OF COST PER LEAD DevelopmentReady continually delivers high volumes of qualified leads to our campaigns, whilst also offering excellent value for money in terms of cost per lead. The team are always happy to provide tailored marketing packages for us to suit each individual campaign and we’ll continue to use the platform moving forward. We will continue to use, and promote our properties through DevelopmentReady.

BRIAN NEO Director, LJ Hooker Commercial Perth

60

Visit DevelopmentReady.com.au

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

OLIVER TOTANI Director, Knight Frank Adelaide

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

MARCO SCHINELLA Sales Partner, Agency Avenue Schinellas

61

Targeted Leads

Lifetime Campaign Support

Transparent Pricing

Be Where The Buyers are.

Be Where The Developers Are. Access Australia’s most active developer & investor database.

Since 2015 we’ve cultivated a targeted and active audience-base to Access most active investor database. provide Australia’s each development site developer marketing&campaign with high volumes of qualified buyer leads. Every resource you need to generate targeted Since 2015built we’ve a targeted and active leads are intocultivated our marketing packages at the audience-base one transparenttocost. provide each development site marketing campaign with high volumes of qualified buyer leads.

Every resource you need Why be anywhere else? Be where the buyers are. to generate targeted leads are built into our marketing packages at the one transparent cost.

Why be anywhere else? Be where the developers are.

Visit commercialready.com.au for more info.

62