CapLand Real Estate Advisors Development Site Update
CapLandâ€™s transactions team has negotiated a further five development site transactions totalling $35.86million over the third quarter of 2012. Over the course of 2012 we have identified an increase in the number of inter state and offshore purchasers sourcing acquisition opportunities in QLD, compared to 2011. This can be partially attributed to the softening Victorian market, which is experiencing increasing levels of supply and declining sale volumes. Following is a chart that demonstrates the origin of enquiry received during marketing campaigns we conducted on residential development sites in 2011 compared to 2012:
MARKETING CAMPAIGNS 2011â€“2012 Source of Enquiry
40% 29% 18%
17% 6% 1%
Many of these developers and investors are identifying QLD, particularly SEQ, as being well placed in the national property cycle to experience an improvement in market conditions ahead of other states. This perception is understandable when comparing the selling price of a 400+m2 lot in new housing estates 35km north or north west of capital city CBDâ€™s around Australia:
PRICE COMPARISONS Capital City
Suburb circa 35km North or North West
Approx. Price of 400+m2 lot
Economy backed by mining & resources.
Limited supply of registered lots available for sale.
Market trending downward, with significant supply increasing and sales volumes declining.
Limited supply of registered lots available for sale.
ADDRESS 31 Bank St, West End, Qld
SITE AREA 1,012m2
SALE PRICE $1,600,000 Sold by CapLand ‘off-market’ prior to campaign
YIELD 30 x 2 Bed Apartments (66m2 – 71m2 internally + balcony)
$ PER UNIT $53,333 exc GST $ per m2 of land: $1,581
PURCHASER Melbourne based private developer
Comments This site is well located in the heart of West End, opposite Coles anchored Shopping Centre and Boundary St Cafe & dining precinct. Two bedroom apartments designed by Noel Robinson Architects priced below $600,000. Several other projects nearby are achieving strong sales rates at these price levels.
$ PER UNIT
Site C & E, Centrus, Miles Platting Rd, Eight Mile Plains, QLD 11,558 (Site C: 3,214m2 + Site E: 8,344m2) $10million + GST (Site C - $2.5m + Site E - $7.5m) 312 units (Site C: 45 units + 717m2 of retail - Site E: 267 units)
$31,446 per unit (adopting 717m2 of retail = 6 units)
$ PER m2 OF LAND
Harbour Close Lammermoor Heights
McBean St, Yeppoon, QLD
$3.2million + GST
DA Approved for 216 residential lots – avg. 970m2
$ PER LOT
$ PER m2 OF LAND
$ PER HA OF LAND
D L O S
D L O S
OTHER Q3 2012 RESULTS BY CAPLAND INCLUDE:
Market Emerald, QLD
Population 31,784 (LGA as at 30 June 2011)
Location 656km North West of the Brisbane CBD, 317km inland from Gladstone
New 4 Bed 2 Bath house & land package
$460,000 – $490,000
Residential Lots (600+m2) Economic Drivers > A gricultural and Horticultural hub of Central Queensland > 1 3 existing mines, 5 mine expansions and 16 proposed new mines in the Emerald LGA > C ommunity & Education – Existing Agricultural College & New Central QLD University announced > Building & Construction – inc. Masters, Harvey Norman, Woolworths and Big W all with recent construction and planning activity
$160,000 – $190,000 Residential Developers & Builders currently active in the City include: >
QUEENSLAND Market Outlook
New Dwelling Approvals
Year ending December
The outlook for Emerald is positive, with a diversified economy backed by the strong combination of agriculture, education, construction and resources growth. Recent declines in thermal coal prices may delay future thermal coal projects, although Emerald is backed by a significant number of coking coal projects. Coking coal prices remain significantly higher with similar production costs to thermal therefore the coking coal mine expansions and future projects are more viable. With existing coking coal mine life spans remaining of 30 â€“ 80 years they continue to support Emeraldâ€™s economy for decades to come. Also, to the West of Emerald is the largest sapphire-producing area in the Southern Hemisphere.
is one of the under-supplied major regional centres in Queensland. With only two land estates currently under construction and only a further two pending release, the strong supply and demand fundamentals of Emerald help insulate the property market should the market soften.
Compared to other major regional centres like Rockhampton, Gladstone and Mackay; Emerald
Lake Maraboon is located only 18km south of the city and is the second largest lake in Queensland,
offering residents a range of fishing and water sports activities. With a village feel, established city centre and range of shopping and amenity; the City of Emerald is well placed to benefit from the Bowen Basin for both permanent residents and contractors .
Need to sell a development site..?
E L A S FOR Currently we are experiencing a strong demand for development sites with the following criteria: 50 â€“ 2000 Lot Residential Subdivision Sites in the following locations
30 â€“ 100 Unit Residential Apartment Development Sites in the following locations
> Greater Springfield
> > > > > > > > > >
> Redland City Council Area > Logan City Council Area > Brisbane City Council Area > Southern Moreton Bay Regional Council Area (old Pine Rivers Shire) > Emerald > Mackay > Rockhampton
Jeff Dolan M 0412 433 377 E email@example.com
South Brisbane West End Woolloongabba Highgate Hill Dutton Park Bulimba Morningside Coorparoo Kangaroo Point New Farm
James Walsh M 0431 712 211 E firstname.lastname@example.org
> > > > > > > > > >
Newstead Teneriffe Fortitude Valley Spring Hill Milton Auchenflower Indooroopilly Windsor Newmarket St Lucia
Kinross Road, Thornlands QLD
SITE AREA 12.26 Hectares
STATUS Offers to Purchase Closing 15 November 2012
APPROVED 98 LOT RESIDENTIAL SUBDIVISION SITE – BRISBANE’S BAYSIDE Details > Development Approval in place for 98 residential lots, avg. 535m2 > Located within SEQ’s most under-supplied market > Approx. 3 minutes to public & private schools, hospitals, major bus interchange, cinemas, cafe’s, restaurants and three major shopping centres including several major retailers and over 200 specialty stores > Approx. 5 minutes to Cleveland Train Station & 30 minutes to Brisbane CBD
OTHER CAPLAND LISTINGS INCLUDE :: > 5,314m2 Hotel Development Site – Port Hedland (under negotiation) > Approved 2,500+ lot master planned community site – Jimboomba > 840 lot residential subdivision site – Emerald (under negotiation) > 5,882m2 Mixed-Use Development Site – Newstead > Retail Convenience Centre – Aspley (under negotiation)
> C apLand’s Project Management Division has recently been appointed by one of the major LNG producers to oversee the construction and delivery and several properties throughout the Surat Basin. > C apLand’s Real Estate Advisory and Transactions Divisions have been appointed to assist a major offshore developer to identify and acquire a number of development site in SEQ. > C apLand welcomes Cameron Chatwood as its new Director of Real Estate Advisory Division.
Director, Real Estate Advisory
Mr Chatwood is the Director of CapLand’s Real
in providing real estate consultancy services
Estate Advisory division. Cameron has in excess
and worked in conjunction with various other
of 20 years experience in the property industry
divisions including investment sales, project
in Australia, working predominantly in property
finance advisory, economic advisory, corporate
valuation and real estate consultancy across
restructuring, business advisory and valuation
a broad range of property sectors including
and business modelling on various high profile
residential, commercial, retail, industrial, rural,
projects within Australia.
special purpose and mixed use. Cameron has worked for both the public and private sectors throughout Queensland, New South Wales and Victoria and has been engaged on overseas assignments in Papua New Guinea, New Caledonia and Vanuatu.
Cameron holds a Bachelor of Business (Real Property Valuation & Administration) from the University of Queensland, a Master of Planning from the University of Technology Sydney and a Graduate Diploma of Applied Finance & Investment from the Financial Services Institute of
Cameron’s areas of specialisation include real
Australia (FINSIA). He is an Associate member
estate valuation, feasibility analysis, transaction
of the Australian Property Institute (AAPI) with
management, options analysis, highest & best use
Certified Practising Valuer (CPV) accreditation,
analysis and distressed asset work out strategy.
a Member of the Royal Institute of Charted
Cameron has held Senior positions with Ernst
Surveyors (MRICS), a member of the Planning
& Young’s Real Estate Advisory Services
Institute of Australia (MPIA) and a Fellow of the
Team (REAS) in Brisbane and Melbourne &
Financial Services Institute of Australasia (F Fin).
Jones Lang LeSalle’s Brisbane Advisory team.
Cameron is also a Registered Valuer with the
Within these organisations he was involved
Valuers Registration Board of Queensland.
Cameron Chatwood M 0417 778 573 E email@example.com
MINING & RESOURCES
REAL ESTATE TRANSACTIONS
OVERVIEW OF CAPLAND DIVISIONS CapLand Real Estate Advisors has changed the way in which real estate services are provided in todayâ€™s market. CapLand Real Estate Advisors combines a property consultancy practice, a development management platform and a commercial real estate together to provide a full service for our clients at every stage throughout the property lifecycle. This integrated solution delivers significant value for our clients, maximises the value of each asset as well as generate realistic results in a timely manner. CapLand is based in QLD, although has advised on assets in NSW, VIC, NT and WA.
REAL ESTATE ADVISORY
Phone 07 3102 4600 Level 5 26 Wharf Street Brisbane Qld 4000 PO Box 10765 Brisbane Qld 4000