Azure’s Trent Keirnan on Playing the Long Game

Azure founder Trent Keirnan spent 10 years hunting for the right site for his first foray into the Sunshine Coast, but some things you just can’t rush. Keirnan speaks candidly with The Urban Developer about why the term townhouse is a dirty word at Azure, creating community across a $2-billion pipeline, and one thing he never thought he would do in his more than 30-year career in property. “From the outset when we first decided on the type of development we would pursue, I made a conscious effort and told the team not to use the word townhouse,” he says. “All over south-east Queensland there are some really good examples of really average townhouses … it all just feels like a hot mess. “Globally there are some wonderful examples of terrace homes, they address the street, they create a sense of community, they have good light, flow and cross-ventilation.” It’s not just a marketing ploy, it’s a strategic move to divorce the brand from the cookie-cutter boxes Keirnan sees across the suburbs of south-east Queensland. And he’s not afraid to break the mould. “While in development it’s usually about the highest and best yield on a site, [for us] it’s not about cramming in as much as possible,” he says. ▲ Keirnan says terraced homes, such as these colourful terraced houses on Bywater Street in London ’ s fashionable Chelsea, have a strong street presence. Keirnan balances high-quality, design-led terrace homes with high-end amenities and says the Buderim project will have broad appeal for those buying into the lifestyle and wellness ideals embedded in the design of the project. The developer’s plans for the recently acquired 5.2ha site at 67 and 77 Power Road, Buderim, include 206 terrace homes of a mix of one, two, three and four-bedroom house alternatives. Keirnan says it will be complemented by a curated coastal lifestyle amenity. Azure focuses on building a sense of place, and its Buderim project will centre on the $4.5-million communal facilities, which include a resort-style pool, steam room, sauna, hot and cold plunges, a full gym, pickleball court, work-from-home space, recreation pavilion and a large communal lawn area. “It will also have an onsite concierge. We want to create a curated lifestyle so residents have the chance to feel like they are on holidays 24/7,” Keirnan says. “That is a big differentiation for us in the market.” ▲ Early renderings of Azure ’ s project at Buderim, for which they hope to receive approval from the Sunshine Coast Council in the next six months. The Buderim acquisition is Azure’s first move into the Sunshine Coast, which Keirnan says is a story of “constrained supply and overwhelming demand”. “The macroeconomic fundamentals are so strong,” he says. “I think for us we’ve seen value on the Sunshine Coast for probably the last 10 years, but it’s taken us 10 years to find a parcel of land that is commensurate with the application of our brand.” And while Keirnan says 10 years sounds like a long time, he says it was also a slow and complicated acquisition process with multiple owners. “It’s taken 10 years to find something that is appropriate, we needed something of a big enough scale in a good infill location to be able to create a sense of place. We were really craving an opportunity to do something infill,” he says. Keirnan says the land needed to be close to the beach as well as established precincts. &ldquo;At Buderim, you are 10 minutes to the beach and on the doorstep of Sippy Downs, Buderim and Mooloolaba &hellip; and because it&rsquo;s infill it feels a little more authentic. --> “SEQ is our top focus, we have projects that spread from the Gold Coast to Buderim (on the Sunshine Coast). ▲ The Ember by Azure development in the Ipswich region, west of Brisbane. “The northern growth corridor of Moreton Bay is really maturing, and demanding good quality product from developers, which I think is excellent.” As a vertically integrated builder-developer Keirnan always has one eye to the horizon. While this latest acquisition marks his first move into Sunshine Coast he says they remain acquisitive across south-east Queensland. “We have about a 2.5-year trajectory in terms of launches, and we are in acquisition mode for beyond 2027,” he says. “We have seven projects under construction, five of which will be completed by the end of the year.” The developer is also onsite at its Casuarina project in northern NSW, which Keirnan describes as a truly exceptional project for Azure. If he had a favourite child, it would probably be this one. ▲ Trent Keirnan speaking at The Urban Developer 's residential summit last year. But trade coverage remains a sticking point in south-east Queensland. “I’ve been in the development game for more than 30 years and I’ve had to do something I never thought I would do. “Our marketing team is not focused on marketing any of our projects, we have a strong database and repeat buyers. Our marketing team is focused on marketing to sub-contractors to come and build for us. “There’s just not enough young people joining the industry and that is the biggest risk for the development industry. “We have to lean on the people who put on the tool belt to build out the projects, but there are fewer and fewer of them. And that post-Covid exodus of overseas labour just hasn’t returned.” Keirnan even tried to enlist his 18-year-old son who has grown up on construction sites—but that might be another 10-year acquisition strategy.

Azure’s Trent Keirnan on Playing the Long Game

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