Castle Group Spons Hero Nov 29.jpg

An unprecedented 1200-plus people turned up for an auction of three land lots in Oakville as Castle Group and Freecity launched its $200-million River Oaks development.River Oaks in a master-planned community created by amalgamating six adjoining parcels, totalling 28.5ha, making it a 200-plus lot subdivision.The event drew interested buyers as well as the community and past purchasers with the attendees enjoying an ensemble of food stalls and kids’ activities.The event culminating in all three premium lots being sold, with 30 registered bidders.The sale prices and 100 per cent clearance rate are reflective of the strong demand for land in northwest Sydney, particularly near established communities. The auction results were:<ul><li>Lot 1: 300sq m, 9m frontage, for $715,500 ($2385 a square metre)</li><li>Lot 2: 300sq m, 10m frontage, for $722,000 ($2406 a square metre)</li><li>Lot 3: 450sq m, 12.4m frontage, for $954,000 ($2120 a square metre)</li></ul>“We had twice the people we expected on the day, a testament that a booming location will drive interest and buyers in any market. With a 100 per cent clearance rate, I couldn’t be happier with the result,” Castle Group director Ritchie Perera said.<div id="7JFfSO6gqi5eDblSHDQQi8"><picture><img src="//images.ctfassets.net/8pr762qjocl3/IsIq4Eb2hFVadAhf2sc25/62bab2c7f373a3a103df3064ae9281ac/2.jpg" alt="Castle Group River Oaks Estate Freecity Oakville" data-mce-src="//images.ctfassets.net/8pr762qjocl3/IsIq4Eb2hFVadAhf2sc25/62bab2c7f373a3a103df3064ae9281ac/2.jpg"></picture><div> </div></div>Freecity director Tony Sun said, “I’ve been through several market cycles and have witnessed the significant growth in the north-west suburbs such as Rouse Hill, Riverstone and Marsden Park and remain confident in the continued growth in the north-west Sydney property market”.Freecity is a premier, privately owned development group in Sydney, with a portfolio of more than $A2 billion in mixed-use and residential projects. This figure sets industry benchmarks, reflecting a dedication to quality, innovation, and holistic urban living.Freecity’s focus on community-centred environments enhances the life, work and recreation of those who live within their developments.&nbsp;Castle Group is heavily invested in Sydney’s growth centres and is the largest landowner in Rouse Hill; a suburb projected to grow by 3.6 per cent a year, which significantly exceeds the expectations for greater Sydney as a whole.Castle Group has amassed a $1.3-billion portfolio of completed and future projects and will deliver over 800 lots between 2024 and 2027. &nbsp;The group specialise in low to medium density property development and have an intimate knowledge of the markets in which they operate.&nbsp;Castle Group and Freecity have partnered to deliver the River Oaks development and expand their growing portfolios.<div id="6gkr0gmBkNKQqAuj2Czg5X"></div><div id="7vT6oWQoWl0sPLEO6tANMF"><picture><img src="//images.ctfassets.net/8pr762qjocl3/01M0mQFv0IrHocPsXUEoty/65622782d195745398b4722a14746204/1.jpg" alt="Castle Group Oakville River Oaks Estate Freecity " data-mce-src="//images.ctfassets.net/8pr762qjocl3/01M0mQFv0IrHocPsXUEoty/65622782d195745398b4722a14746204/1.jpg"></picture><div>Works commenced at the River Oaks estate development site, located in Oakville.</div></div>Nestled in north-west Sydney, River Oaks is just moments from Rouse Hill Town Centre, the Northwest Metro, Box Hill and the upcoming Rouse Hill Public Hospital. South of River Oaks is 23.5 hectares of park and recreation space.The Northwest Metro provides rapid services from Tallawong, through Norwest and to Chatswood ultimately linking to Sydney's Central Business District.With a combination of existing and planned infrastructure and lifestyle amenity, Oakville is a suburb on the cusp of significant growth.It’s this growth and demand that drives Castle Group and Freecity’s confidence in the market. <div id="6gkr0gmBkNKQqAuj2Czg5X"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6aFYDi7bkyhkKWxoAj1seF/151e2d8f9b6771302d35469da473d528/3.jpg" alt="River Oaks Estate Freecity Oakville Castle Group " data-mce-src="//images.ctfassets.net/8pr762qjocl3/6aFYDi7bkyhkKWxoAj1seF/151e2d8f9b6771302d35469da473d528/3.jpg"></picture><div> </div></div><hr> The Urban Developer is proud to partner with CG FC Pty Ltd to deliver this article to you. In doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers.&nbsp;

furn-niche  spons Hero Nov 2.jpg

Located in the cosmopolitan suburb of Surry Hills in Sydney, The Adge Hotel has undergone a major renovation that has transformed it from a tired, outdated property, to one that exudes vibrance and creativity.After an extensive refurbishment by Hutchinson Builders, the hotel finally reopened its doors in August this year, just in time to hit 100 per cent occupancy for the Matildas World Cup games in Sydney.The refit scope included the 93 guestrooms, corridors, the hotel lobby, and cafe.<div id="5torq25lFAeEZIZMAHxNEr"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4XZJtId51YlC7NgQLE2lqI/ebc057e4aa4fa0350da5a30a82c22bc7/FN_ADGE_HOTEL_SYD___Florian_Groehn_-42.jpg" alt="The Adge Hotel Surry Hills Fur-Niche Sydney" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4XZJtId51YlC7NgQLE2lqI/ebc057e4aa4fa0350da5a30a82c22bc7/FN_ADGE_HOTEL_SYD___Florian_Groehn_-42.jpg"></picture><div> </div></div>The project team consisted of Hutchinson Builders, SJB Interiors, Cienna the owner/operator, and fitout specialists Furn-Niche.The team was united by a vision to deliver a property that doesn’t take itself too seriously and offers guests a memorable experience.The scene is set on entry by a lively mural by Australian tattoo artist Adrian Hing, who is famous for his colourful work inspired by Asian mythology.The explosion of colour and pattern permeates every surface, creating an exhilarating atmosphere.Bold colours and psychedelic patterns are balanced by brutalist concrete surfaces and clever lighting used extensively throughout to add ambiance.<div id="2yIADuQ5cROGEaSwAVerOb"><picture><img src="//images.ctfassets.net/8pr762qjocl3/5punxCDJoXgfLygrlVDkgN/f05354a93dc42013d38e8de492d7cd63/FN_ADGE_HOTEL_SYD___Florian_Groehn_-43.jpg" alt="The Adge Hotel Surry Hills Fur-Niche Sydney" data-mce-src="//images.ctfassets.net/8pr762qjocl3/5punxCDJoXgfLygrlVDkgN/f05354a93dc42013d38e8de492d7cd63/FN_ADGE_HOTEL_SYD___Florian_Groehn_-43.jpg"></picture><div> </div></div>Furn-Niche worked alongside SJB Interiors to design and make a custom range of furniture that blends the best of the ’60s, ’70s and ’80s.Retro-shaped armchairs with oversized wings invite guests to lounge luxuriously in their rooms.“We achieved the exact balance we intended to deliver. A retro vibe from a design perspective and products that stand the test of time,” Furn-Niche senior designer Joshua Abel said.Furn-Niche designed a modular system of open-framed joinery for the rooms that consisted of robes, minibars, and luggage racks in a variety of sizes and combinations that could be connected onsite.This flexible approach to the design accommodated the vast number of room types with odd shapes and smaller than usual lift wells and corridors.<div id="3MQ4l6TFhIdzzwMmWP5gwt"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1PixWTomSiGai0715fsS7P/90de0211f1887bbcb03c55e4811e3dfc/furn-niche__spons_Mid_collage_Nov_2.jpg" alt=" Sydney The Adge Hotel Surry Hills Fur-Niche" data-mce-src="//images.ctfassets.net/8pr762qjocl3/1PixWTomSiGai0715fsS7P/90de0211f1887bbcb03c55e4811e3dfc/furn-niche__spons_Mid_collage_Nov_2.jpg"></picture><div> </div></div>The eclectic spirit of the hotel is evident throughout all the guestrooms, with changing colour schemes and layouts evident across the property, ensuring guests will have a unique experience each time they stay.Furn-Niche project manager Cameron Stewart described the installation as “three weeks of Fear and Loathing in Las Vegas”.But the result is a creative and visually compelling fitout that will inspire a great night out in one of Sydney’s hottest locations.<div id="2VJ5U68UGQz3h0TBSIfkp6"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6f1r2RKC16Bcsu9VLaMrrk/8c2337ca8ae58cd833b08065be0b138c/FN_ADGE_HOTEL_SYD___Florian_Groehn_-16-_Edited_copy.jpg" alt=" Fur-Niche Sydney The Adge Hotel Surry Hills" data-mce-src="//images.ctfassets.net/8pr762qjocl3/6f1r2RKC16Bcsu9VLaMrrk/8c2337ca8ae58cd833b08065be0b138c/FN_ADGE_HOTEL_SYD___Florian_Groehn_-16-_Edited_copy.jpg"></picture><div> </div></div>Cienna, Hutchies and Furn-Niche are working on Stage 2 of the Adge Hotel refurbishment; another 149 hotel rooms next door, which will be opening in early 2024.The next stage promises to be an extension of the hyper-vibrant and uplifting design that has enriched the Surry Hill’s hospitality scene. <hr> The Urban Developer is proud to partner with <a href="https://furn-niche.com.au/" data-mce-href="https://furn-niche.com.au/">Furn-Niche</a> to deliver this article to you. In doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers.&nbsp;

Sydney's Adge Hotel reveals a vibrant facelift, with Furn-Niche driving its retro-inspired interiors...

IPEX Spons Hero Nov 27.jpg

There’s no doubt that current market conditions have placed significant financial stress on builders; the Australian Constructors Association is reporting that building firms are entering administration at twice the rate of other industries with over 50 per cent of large contractors currently fitting the technical definition for insolvency.Whilst we certainly empathise with builders given what has been a tough few years (we’re also actively working to change construction payment processes to <a href="https://ipex.com.au/2023/07/20/there-is-a-way-to-fix-the-broken-builder-payment-model/" data-mce-href="https://ipex.com.au/2023/07/20/there-is-a-way-to-fix-the-broken-builder-payment-model/">improve builder liquidity</a>), we can’t help but wonder—if these firms really are in such desperate financial trouble, how do they continue to be awarded new contracts?<h2>More checks, same result&nbsp;</h2> Recent, high-profile insolvencies have made many developers and lenders nervous, leading to ever-increasing scrutiny on builder finances.Whilst no developer would appoint a builder they believe is at risk of going under, many have sustained losses despite them reaching a position of ‘comfort’ through extensive due diligence (DD) checks.<h2>When did it start to go wrong?&nbsp;</h2> Are we to believe that all these builders’ finances only started to decline post their most recent contract award? Or, were they already in trouble when bidding for those final contracts and in need of new ‘donor’ projects so they could continue trading?Whether intentional or not, it’s clear that some builders are misrepresenting their true financial position to manipulate the tender assessment process. The question is why doesn’t DD pick this up?<h2>No matter how thorough your due diligence process, there will always be gaps</h2> Due diligence looks at a range of very specific numbers and ratios that, although important, do not necessarily provide any indication of the builders’ actual current financial position.Due diligence checks are historical, representative of a ‘point in time’ only and rarely provide any real insight into any looming cash shortfalls.You might also consider the source of supplied financial information and the context under which they’re sharing it; you could argue that there’s even greater incentive to ‘appear’ strong when you’re not, given that you need the cash injection that comes with that new contract.&nbsp;Besides the numbers, delivery records also play a key role, however, even these can be misleading—it’s entirely possible for a builder to operate under a ‘Ponzi’ type cycle for years with few (if any) discernible signs to the external observer; projects are being completed and subbies are being paid.Due diligence might turn up some history of late payments but, overall, their delivery track record can be solid—it’s just that their projects are being delivered with other developers’ money.<h2>You can’t close due diligence ‘gaps’ but you can make the builder accountable for them</h2> You can (and should) keep auditing balance sheets, work in progress/cost to complete, builder track records—these are all sensible checks to undertake before awarding a contract. But let’s get to the point—what are you actually trying to learn?We’d argue that it all boils down to answering one simple question: Does this builder have the financial capability to fulfil all their contractual obligations?Due diligence in its current form places the onus on the developer and lender; it’s their responsibility to review all available documentation and satisfy themselves that the answer to this question is yes.If the information they are basing this decision on is out of date, incorrect, incomplete or worse still, fraudulent, they bear the consequences.But what if we reverse the dynamic of the DD process? What if we were able to shift the onus on to the builder to ‘prove’ the answer was yes via their actions.What if we asked the builder this question instead: Are you willing to accept this contract under the condition that all progress payments are ‘ring fenced’ to this project?Now the builder has a decision to make; it doesn’t matter what their bank statements say or how creative they’ve been with their accounting; are they truly in a position to take on a contract under which there is no opportunity to ‘borrow’ subcontractor/supplier entitlements?Can they really finish off existing commitments without using money from this project? If the answer isn’t yes, they really can’t take the project.&nbsp;So, how can a developer or lender transfer accountability to their builder? By mandating that their project be run under <a href="https://ipex.com.au/pdfs/IPEX-developer-brochure.pdf" data-mce-href="https://ipex.com.au/pdfs/IPEX-developer-brochure.pdf">IPEX</a> as a condition of winning the contract.<h2>Builder response tells you all you need to know</h2> Let’s be honest, builders will never love IPEX but the ‘good ones’, those who are already doing the right thing, have no issue with working this way (and why would they—IPEX doesn’t change anything—everyone including the builder gets what they’re entitled to).If anything, IPEX only strengthens the position of a financially secure builder in any commercial negotiation; in our experience, acceptance to the overarching concept is typically straightforward, with discussions quickly shifting to <a href="https://ipex.com.au/pdfs/IPEX-Implementation-by-Developer-Profile.pdf" data-mce-href="https://ipex.com.au/pdfs/IPEX-Implementation-by-Developer-Profile.pdf">how it’s to be implemented and what they can get in return</a>.We have, however, encountered a small handful of builders who have met the request for IPEX with immediate hostility and threats to withdraw from the project; we can only imagine each had ‘grand’ plans for the initial progress payments and whilst it may be a coincidence, each has since entered administration.<h2>Due diligence is only phase one: there are two phases to reducing your insolvency risk</h2> Due diligence is limited and always will be; while extending checks may provide additional comfort, you can never be certain. And even if available resources appear sufficient at the time of contract award, no audit can forecast factors that may negatively impact a project linked to your builder during the construction of your project.To truly reduce your insolvency risk, you’ll need to:<ul><li>Appoint a builder who is financially secure, and</li><li>Protect funds against any potential builder cash flow issues for the duration of the build.</li></ul>To find out how you can achieve both, talk to IPEX. <hr> The Urban Developer is proud to partner with <a href="https://ipex.com.au/" data-mce-href="https://ipex.com.au/">IPEX</a> to deliver this article to you. In doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers.&nbsp;

IPEX as a key tool for accountability and transparency, helping to ensure financial security and funds protection in construction...

Vistek Spons Nov 14.jpg

The profile for mass timber in Australia has been given a significant boost with the announcement that two key US developers will be speaking at the one-day <a href="https://v-set.vistek.com.au/masstimberconnect/" data-mce-href="https://v-set.vistek.com.au/masstimberconnect/">Mass Timber//Connect</a> event in Melbourne in February.The event will showcase an international lineup of developers and associated industry professionals who are harnessing mass timber to drive the decarbonisation of the construction industry.Developer Dan Whalen (Harbor Bay Ventures) has been confirmed as one of the key speakers.<h2>US’s largest mass timber building</h2> Whalen is behind the $200-million Intro, Cleveland project [both pictured, top]. It is a 47,000sq m luxury apartment and retail development that utilised mass timber for its primary structure.&nbsp;“Between using mass timber, having prime real estate at Cleveland’s best intersection and creating the most robust amenity package in the market, we were able to achieve a really great outcome.”The fact that timber added strongly as a sustainability component was a great benefit, and it helped us decide to push forward with mass timber on other projects nationally,” Whalen said.The project was completed in 2022 and is now the USA’s largest mass timber building.“Intro broke both yield and leasing velocity records for the local market. The project demonstrated to us the opportunities mass timber can bring and now we have further developments in our pipeline set to be delivered as mass timber”.<h2>Shared experience</h2> Whalen will be joined by compatriot Noel Johnson who will also be a key speaker.Johnson is one of the US’s most prolific mass timber developers with several projects completed in residential and commercial sectors. His experience with mass timber has resulted in him becoming one of mass timber’s biggest advocates in the US market.“There are many ways to decarbonise our cities—however, mass timber may offer one of the only means to do so in a profitable way … to unleash the exponential power of free-market capitalism towards social objectives,” Johnson said.Johnson will discuss his research on how mass timber has driven project profitability across the US, the behavioural finance that underpins such empirical findings, and the reasons for optimism with respect to urban decarbonisation.<div id="7s05FHqU9DQM4jrblsiFl4"><picture><img src="//images.ctfassets.net/8pr762qjocl3/52pJgcWDKYahg4ypmnFQ3G/01d1ded1fa7e522ceb1a59a974222da3/Vistek_V-SET_Timber_Spons_Mids__Nov_14.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/52pJgcWDKYahg4ypmnFQ3G/01d1ded1fa7e522ceb1a59a974222da3/Vistek_V-SET_Timber_Spons_Mids__Nov_14.jpg"></picture><div> </div></div>Event organiser Robbie Svars said Johnson and Whalen operated in similar commercial environments to the market in Australia. “They also both provide the financial transparency when discussing their projects that audiences are craving. This makes them a not-to-be-missed duo for anyone interested in adopting mass timber.“Across a variety of asset classes, we are seeing that the commerciality of mass timber is starting to stack up, from Purpose Built Student Accommodation to industrial warehouses. Dollar for dollar, any developer chasing green star ratings will get a better return by adopting mass timber than nearly any other sustainability initiative.“To support this movement, it is crucial that we bring in perspectives from other markets that are on a similar trajectory to Australia.”<a href="https://v-set.vistek.com.au/masstimberconnect/" data-mce-href="https://v-set.vistek.com.au/masstimberconnect/">Mass Timber//Connect</a> is being organised by V-SET, <a data-mce-href="https://www.vistek.com.au/" href="https://www.vistek.com.au/" target="_blank">Vistek Engineer’s</a> specialist mass timber arm.&nbsp;The event is running an early-bird special throughout November that will offer a more than 30 per cent savings off the regular ticket price. <hr> The Urban Developer is proud to partner with <a href="https://www.vistek.com.au/" data-mce-href="https://www.vistek.com.au/">Vistek Engineers</a> to deliver this article to you. In doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers. &nbsp;

Melbourne summit to share how mass timber can make urban development both green and profitable…

archistar spons nov 2023.jpg

During the past few years, pressure has been mounting on governments in the housing sector, with supply struggling to keep up with demand.After the re-opening of international borders post-Covid lockdowns, governments are facing a stronger than anticipated recovery in population growth, presenting a new challenge to housing supply and affordability.According to the recently released Intergenerational Report, net overseas migration will reach more 400,000 this year, before moderating to around 235,000 per annum.The housing cost crisis from the rapid growth in demand is coinciding with increasing interest rates and a rise in the cost of materials, placing pressure on consumers’ ability to purchase and build housing.In the State of the Nation’s Housing 2022-23 research report, the National Housing Finance and Investment Corporation chief executive Nathan Dal Bon emphasised that “analysis shows housing affordability and supply are likely to remain challenging for some time, underscoring the need for a holistic approach to mitigate the housing pressures Australians are facing”.<div id="5wDBsSVQGUhheLPergwaOe"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6STTotND28pchflYBiWpK/73622829466cb5390e52eb9c0a2cc319/1.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/6STTotND28pchflYBiWpK/73622829466cb5390e52eb9c0a2cc319/1.jpg"></picture><div>▲ Government at all levels face enormous challenges in meeting housing supply demand. </div></div>Governments are cognisant of these challenges ahead, with Australia’s Housing Australia Future Fund recognising that a change to supply is needed to keep up with demand.<h2>Complex and time-consuming processes</h2> With governments prioritising increasing supply of housing through investment, a barrier that continues to persist for home builders across Australia is the complex and time-consuming process of building property.The public is expected to find and understand a plethora of government documents and rules that dictate what is allowed to be built on a site, including environmental, zoning and heritage concerns.For the average citizen, this paper-intensive regulatory environment can slow down and frustrate the design and construction process, disincentivising action and exacerbating the supply problem.In Victoria, for example, the Better Regulation Victoria review of the planning and building approvals process identified that 65 per cent of permit applications take longer than two months, with 26 per cent&nbsp; taking more than six months to approve.These delays cost the residential development industry $7.6 million per day.The public needs better tools that empower them in understanding land and government regulations and can encourage building approval. This presents the opportunity to introduce technology and artificial intelligence to empower citizens and improve efficiencies in the process.&nbsp;<h2>Technology to simplify the process</h2> More than ever, technology and artificial intelligence is needed to address these problems and prioritise digitising and simplifying the building process to boost housing supply.Artificial intelligence, with its ability to analyse vast amounts of data, identify patterns and make predictions, has the potential to cut through the complex environment and deliver the facts so citizens can make well-informed and strategic decisions.<div id="38xQ8Cdfndkwx79DYbMbsK"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6tI6W9NVd4bn8BMamF8bKh/2f210a38d00c10c36005b7bb9456d504/2.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/6tI6W9NVd4bn8BMamF8bKh/2f210a38d00c10c36005b7bb9456d504/2.jpg"></picture><div>▲ Prop-tech solutiuons such as Archistar brings a host of advantages to the building process. </div></div>An example of AI-powered technology driving change in the public sector is <a data-mce-href="https://www.archistar.ai/echeck/?utm_source=tud&amp;utm_medium=email&amp;utm_campaign=202311tud" href="https://www.archistar.ai/echeck/?utm_source=tud&amp;utm_medium=email&amp;utm_campaign=202311tud" target="_blank" rel="noopener">Archistar</a>.Archistar has been working with governments across Australia to embed digital compliance solutions into the building process and leverage technological tools to fast-track development, providing cost-savings and greater transparency to citizens.The revolutionary technology instantly assesses building designs against selected planning and building codes, navigating the complex and time-consuming issues that are slowing down progress in housing supply.The technology has recently been <a data-mce-href="https://www.land.vic.gov.au/maps-and-spatial/digital-twin-victoria/ecomply" href="https://www.land.vic.gov.au/maps-and-spatial/digital-twin-victoria/ecomply" target="_blank" rel="noopener">brought to market in Victoria,</a> where it has empowered designers to rapidly iterate house designs and fast-track understanding of requirements, saving up to four weeks on the approval process.Estimated cost savings of the tool are $13,000 per submission, or up to $65 million total savings each year.A free demonstration and training tool called <a data-mce-href="https://www.archistar.ai/archiland/?utm_source=tud&amp;utm_medium=email&amp;utm_campaign=202311tud" href="https://www.archistar.ai/archiland/?utm_source=tud&amp;utm_medium=email&amp;utm_campaign=202311tud" target="_blank">Archiland</a> is available for industry to experience the new compliance technology and understand how it works. <a data-mce-href="https://www.archistar.ai/echeck/?utm_source=tud&amp;utm_medium=email&amp;utm_campaign=202311tud" href="https://www.archistar.ai/echeck/?utm_source=tud&amp;utm_medium=email&amp;utm_campaign=202311tud" target="_blank">A live demonstration</a> can be requested on Archistar’s website.<h2>Accelerating change in the housing sector</h2> By prioritising new technologies, governments and the public sector have an opportunity to accelerate change in the housing sector.With demand for property showing no sign of slowing, it is the responsibility of governments to support a boost supply and by adopting artificial technology, governments can accelerate the overall process without compromising quality.By leveraging technology tools such as <a data-mce-href="https://www.archistar.ai/echeck/?utm_source=tud&amp;utm_medium=email&amp;utm_campaign=202311tud" href="https://www.archistar.ai/echeck/?utm_source=tud&amp;utm_medium=email&amp;utm_campaign=202311tud" target="_blank">Archistar</a>, home builders can save time and money while reducing the likelihood of errors and oversights. The improved efficiency ultimately leads to more successful projects, empowering builders to continue increasing housing supply. <hr> The Urban Developer is proud to partner with <a data-mce-href="https://www.archistar.ai/echeck/?utm_source=tud&amp;utm_medium=email&amp;utm_campaign=202311tud" href="https://www.archistar.ai/echeck/?utm_source=tud&amp;utm_medium=email&amp;utm_campaign=202311tud" target="_blank" rel="noopener">Archistar</a> to deliver this article to you. In doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers.

Cutting the delivery time for much-needed housing means simplifying the process for all involved, says prop-tech leader Archistar…

Clutch The Mira Spons Hero Nov 16.jpg

High-end residential developer Clutch has unveiled the crown jewel of The Mira apartments, with expressions of interest now open for the opulent 4-bedroom, 4-bathroom penthouse suite in Sydney’s inner-east.The exciting reveal follows the release of the two and three-bedroom apartments within the development in August this year.“Every residence we create has the same quality and attention to detail but we are excited to see these unfold on a larger scale in The Mira Penthouse,” Clutch head of sales and marketing Amanda Panetta said.The living space of more than 300sq m is paired with an additional 114sq m of outdoor entertaining area, complete with a private rooftop and plunge pool.Nestled within the leafy Bellevue Hill neighbourhood, The Mira Penthouse is a glimpse into the quiet luxury that Clutch is committed to bringing to ‘rightsizers’, or people looking to graduate from a larger family home into an urban oasis.<div id="6vb7SdW6wtWl8F7WbLiBvg"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4dQaQa1AIEw8OblyT1FYbp/a2430698e7327e1ddbc766c8d479bba6/1.jpg" alt="Outside The Mira Apartments in eastern Sydney by developer Clutch." data-mce-src="//images.ctfassets.net/8pr762qjocl3/4dQaQa1AIEw8OblyT1FYbp/a2430698e7327e1ddbc766c8d479bba6/1.jpg"></picture><div> </div></div>The sale of the penthouse will be led by Gavin Rubinstein and the team at The Rubinstein Group, renowned for selling Sydney’s most exclusive homes.Clutch’s Rose Bay development, Opus, is among TRG’s successes with the record sale making headlines in the real estate reality TV show Luxe Listings Sydney.A celebration of industry excellence, the essence of The Mira Penthouse is encapsulated by its project partners. Built by Lords Group, a generous floorplan designed by PBD Architects and bespoke interiors curated by Lawless and Meyerson, with every feature in the home thoughtfully chosen to reinforce the sense of privacy, luxury and calm.“Our expertise lies in quality. On a project of this calibre, every decision has to be thoughtfully coordinated. That’s why we meticulously hand-selected every collaborator on this project—experts we could trust to bring the vision of The Mira Penthouse to life,” Panetta said.<div id="11sAVrg8rnUIzPSFlw8w34"><picture><img src="//images.ctfassets.net/8pr762qjocl3/mJYqmYgsnn4Ms86zfl0bo/0988e3d642f4f5df541fcf977c0ccfdf/2.jpg" alt="Luxury interior of The Mira penthouse at Bellevue Hill in Sydney's inner east by developer Clutch." data-mce-src="//images.ctfassets.net/8pr762qjocl3/mJYqmYgsnn4Ms86zfl0bo/0988e3d642f4f5df541fcf977c0ccfdf/2.jpg"></picture><div> </div></div>A tranquil blend of seclusion and convenience, The Mira Penthouse is just moments from vibrant city life.Residents can explore nearby attractions such as harbourside walks, ocean swims and golfing at the Royal Sydney Golf Club, or relish the charm of Plumer Road shops and waterfront dining at Catalina and The Boathouse.“The Mira Penthouse represents our vision: a property doesn’t need a beachfront to create an island escape,” Panetta said.Clutch is committed to delivering thoughtfully designed high-end developments across Sydney’s eastern suburbs. Experience a life ‘Created by Clutch’ at The Mira Penthouse—expressions of interest are open at <a href="https://mirabellevuehill.com.au/" data-mce-href="https://mirabellevuehill.com.au/">https://mirabellevuehill.com.au/</a>&nbsp; <hr> The Urban Developer is proud to partner with <a href="https://createdbyclutch.com.au/" data-mce-href="https://createdbyclutch.com.au/">Clutch</a> to deliver this article to you. In doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers.

Clutch's latest creation, The Mira Penthouse, is now open for expressions of interest, setting a new bar in high-end living...

colliers kiome hero.jpg

An exceptional opportunity has emerged in the heart of Brisbane.‘Kiome’—<a href="https://www.colliers.com.au/en-au/properties/brisbane-riverfront-development-approved-site/aus-5-dudley-street-highgate-hill-qld-4101/aus66022767" data-mce-href="https://www.colliers.com.au/en-au/properties/brisbane-riverfront-development-approved-site/aus-5-dudley-street-highgate-hill-qld-4101/aus66022767">one of the city’s last approved riverfront development sites</a>—is being sold via an Expressions of Interest campaign closing Thursday, November 30 at 4pm Queensland time.The 1,401sq m site in Highgate Hill has DA and BA approval for a collection of seven luxurious, family-sized apartments, which are a true exemplar of sustainability and biophilic design.&nbsp;Marketing agents James Matley and Brendan Hogan are presenting Kiome to potential buyers. This blue-chip riverfront site offers the canvas for an ultra-luxury apartment project, featuring seven luxury riverfront residential units.<span class="mce-preview-object mce-object-iframe" contenteditable="false" data-mce-object="iframe" data-mce-p-allowfullscreen="allowfullscreen" data-mce-p-src="https://www.youtube.com/embed/hpZN3OfvnRw?feature=shared"><iframe src="https://www.youtube.com/embed/hpZN3OfvnRw?feature=shared" width="560" height="314" frameborder="0" allowfullscreen="allowfullscreen" data-mce-src="https://www.youtube.com/embed/hpZN3OfvnRw?feature=shared"></iframe>James Matley said: “In a landscape of limited supply and soaring demand for high-end residential product, Kiome presents prospective buyers with an extraordinary opportunity to unlock the full potential of this shovel-ready site.“It’s a remarkable chance to shape the future of Brisbane’s riverfront living.”Brendan Hogan said: “This shovel-ready site in Highgate Hill embodies the attributes of inner city living.“It is strategically positioned to cater to the escalating demand for owner-occupier apartments and aligns perfectly with the evolving desires of today’s discerning buyers, offering a lifestyle opportunity second to none.’“Highgate is one of Brisbane’s best suburbs, tucked along a quiet and leafy reach of the river and only a short distance to Brisbane’ burgeoning hub of culture, entertainment and dining at West End and Southbank.“It is also only 2km from the CBD.”<div id="3DfaPf8McdK2TfHZWoill3"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4hJUz6xiwltmRLEff4LVud/a510d8ebc90746326f6a7dd1be6213cd/Highgate_Hill_HERO.jpg" alt="5 Dudley Street Highgate Hill Brisbane for sale" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4hJUz6xiwltmRLEff4LVud/a510d8ebc90746326f6a7dd1be6213cd/Highgate_Hill_HERO.jpg"></picture><div> </div></div>Matley said: “The expansive apartments are configured in a two-per-floor basis, aside from the full-floor penthouse, and provide flow-through living with wrap-around views, including views across the River to St Lucia.”&nbsp;This <a data-mce-href="https://www.colliers.com.au/en-au/properties/brisbane-riverfront-development-approved-site/aus-5-dudley-street-highgate-hill-qld-4101/aus66022767" href="https://www.colliers.com.au/en-au/properties/brisbane-riverfront-development-approved-site/aus-5-dudley-street-highgate-hill-qld-4101/aus66022767" target="_blank" rel="noopener">rare riverfront development site, Kiome</a>, is poised to attract substantial interest from the market.Interested parties are encouraged to reach out to James Matley and Brendan Hogan, the sales agents, for comprehensive information and an opportunity to secure this unique property. <hr> The Urban Developer is proud to partner with <a data-mce-href="https://www.colliers.com.au/en-au/properties/brisbane-riverfront-development-approved-site/aus-5-dudley-street-highgate-hill-qld-4101/aus66022767" href="https://www.colliers.com.au/en-au/properties/brisbane-riverfront-development-approved-site/aus-5-dudley-street-highgate-hill-qld-4101/aus66022767" target="_blank" rel="noopener">Colliers</a> to deliver this article to you. In doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers.&nbsp;

Unveiling Kiome: A Prime Brisbane Riverside DA Approved Development Site in Highgate Hill—Now Available Via EoI...

downsizer advertorial hero.jpg

Proptech start-up Downsizer has hit the big time, gaining an A+ credit rating and $2.5 billion in off-the-plan sales listings.&nbsp;The platform, which matches downsizers with developers, marked the milestone after launching last year, spending nine months in “stealth mode” before targeting the national market in December.The rating has enabled the company to work with top-tier developers while helping unlock the 1.8 million people expected to move from their family homes in the next five years.Downsizer chief executive and co-founder Mark Macduffie said he’s proud of what they had achieved in such a short time.“We originally had five people working for us, all contractors, including me and now we have 35,” Macduffie said.As a business and platform, Downsizer faced a significant obstacle in expanding because construction lenders required developers to have a specific, higher rating, he said.“Until the first of September, we were B- and now we are A+ rated, which makes us the cheapest deposit bond in Australia.“This allows us to compete with QBE, the market leader traditionally.“The level of developers who we are talking to has gone from middle tier to institutional level very quickly.”Downsizer has on-boarded 20 developers in the past three months and have conducted $50 million in sales.The company was also listed by the Australian government as a high-potential tech export, with plans to launch in the United Kingdom next year.Macduffie said the Downsizer marketplace worked by de-risking both sides of the equation.“One of the biggest problems developers have in this market is margin compression and making sales in a tough environment because of inflation and interest rates,” Macduffie said.“Downsizers as a cohort are the biggest segment of people buying residential property in Australia, and we’re here to help unlock that.“So we offer a marketplace for developers and downsizers and we also qualify every downsizer, because we have a real estate licence.<div id="1R1ATgoBZiWTXnNwx51WR8"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6Id7Xbek2bTVG4be0LE7jU/5cd05a6e91467e067885ebbde5f7f350/Mid_article_resizes__10_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/6Id7Xbek2bTVG4be0LE7jU/5cd05a6e91467e067885ebbde5f7f350/Mid_article_resizes__10_.jpg"></picture><div>▲ Downsizer chief executive and co-founder Mark Macduffie. </div></div>“They can pay a bond instead of the 10 per cent deposit and we keep in contact with them.“I’ll engage with them 120 days before settlement and say, ‘Hey, your apartment is almost ready, would you also like us to sell your current house for you?’.“So, this de-risks the whole process for both parts of the equation.”They recently helped a downsizer secure a $9-million apartment.Downsizer work with a range of clients, for example people aged in their 40s looking to free up capital to travel the world, and an 80-year-old Order of Australia medal awardee.“Developers can come to us to access a whole market of asset-rich downsizers,” Macduffie said.“We’re not just for retirees—we’re for the asset rich, cash rich: we’re for the asset rich, cash poor and everything in between.“We do everything for the developer in this space—we act as a channel sales agent, with technology and marketing so it’s kind of a one-stop shop.”The buyers are looking at suburbs in every state with current registered assets in the platform worth $3.5 billion.&nbsp;“We’ve been in the market for 18 months but the first nine months were in pilot mode,” Macduffie said.“So nobody knew about us apart from the 17 projects in three states and we only advertised in those suburbs.“But we could see that people were searching in suburbs to see if there was stock available—in those nine months we had 720 separate suburbs searched.“We are now up to around 1600 suburbs.“I don’t have enough stock to keep up with demand ... we have buyers ... there’s no boundaries.” <a data-mce-href="https://calendly.com/mark-downsizer/30min?month=2023-11" href="https://calendly.com/mark-downsizer/30min?month=2023-11" target="_blank">Click here</a> to book your introduction to Downsizer.<hr> The Urban Developer is proud to partner with <a href="https://www.downsizer.com/" target="_blank" rel="noopener" data-mce-href="https://www.downsizer.com/">Downsizer</a> to deliver this article to you. In doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers.

Proptech start-up Downsizer has hit the big time, gaining an A+ credit rating and $2.5 billion in off-the-plan sales listings…

Bridport Spons Nov 10.jpg

Bridport Projects will shortly begin building its fifth childcare project in as many years having completed similar projects at Kensington, Ringwood, Boronia and Knoxfield.This latest one is also in Victoria at Eaglehawk, just north of Bendigo and is pre-leased to Eden Academy.Bridport ensures its portfolio is diversified with residential, commercial and industrial projects.Last year it completed one of the first affordable housing projects when Homes Victoria settled on its 34-apartment development in Kensington.The project was acquired in one line by Homes Victoria and was delivered by Bridport within the project timeline and budget against the backdrop of cost and program blowouts.Bridport recently acquired 7000sq m of industrial land at Highett in south-east Melbourne and continues to pursue the delivery of childcare projects whilst looking carefully for its next residential foray.<div id="74AiQtFjK6cqWRiNgO8eIG"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6qQEQEzxTzWq3W0onBV0Sc/304272244dfbc238a36b59f7ddd58b76/Bridport_Spons_Mids__Nov_10.jpg" alt="A render of the Eden Academy childcare centre at Eaglehawk, just north of Bendigo." data-mce-src="//images.ctfassets.net/8pr762qjocl3/6qQEQEzxTzWq3W0onBV0Sc/304272244dfbc238a36b59f7ddd58b76/Bridport_Spons_Mids__Nov_10.jpg"></picture><div>▲ Bridport’s latest childcare project near Bendigo is pre-leased to Eden Academy. </div></div>Diversification would always be a central theme of Bridport’s acquisition strategy, never relying on any one sector, Bridport owner Tom Shelton said.“Project size and sector are the primary criteria when seeking the next opportunity.”He said one of the biggest challenges was the different speeds we were experiencing within virtually all sectors.“Each market is fractured to a degree and is very sensitive to either quality, price point or its embedded target, which results in all sectors having sketchy elements.“For example, with the residential sector, &nbsp;it’s hard to remember a time when the competing tensions were so stark. Fragile confidence versus chronic lack of supply. Reduced borrowing power versus wage increases. Investor indifference versus rental growth. The list goes on.“Some submarkets are suffering as a result, some are holding up.”Bridport also manages projects for some of its investors and third parties, which flattens its risk curve.“We assist owners who are not set up to apply the necessary focus to their projects.”Aside from the current suite of well-documented challenges—most notably costs and planning—Tom said project team selection had never been more critical.“Virtually everyone is busy and/or under-resourced but no one wants to pass up work, so having frank conversations about workloads and turnaround times can literally save weeks and sometimes months in the program.” <hr> The Urban Developer is proud to partner with <a data-mce-href="https://www.bridportproperty.com/" href="https://www.bridportproperty.com/" target="_blank" rel="noopener">Bridport</a> to deliver this article to you. in doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers.

Bridport navigates complex market demands across various sectors, adapting to quality and price sensitivities…

HoldenCAPITAL Nov 9.jpg

Now in their seventh year of business, HoldenCAPITAL Partners (HCP) continues to focus on its core target market and the refinement of its platform, market analysis and consistency in applying core lending disciplines to selectively grow its business.This astute growth has come despite the past 12 months dishing up a challenging environment with inflation and soaring development costs, followed by increasing labour costs, and the resulting fall off of viable project feasibilities.HCP has maintained an unwavering level of growth in its development finance business, which principal Dan Holden attributed to their consistency of purpose and not being tempted to stray in the hope of greater returns or quick wins.Understanding that these pressures would slow the availability of opportunities that met the HCP lending hurdles just meant that the team had to work harder to sift through the opportunities available, to either find a better deal or a way to satisfactorily mitigate those risks.<div id="1ftvhDuRlv26CgvxCzuGeQ"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1R2r4eTvLgVcMG3KXixBUP/dc359b9a88d0784b6deb0f9444adca6d/Holden_Capital_Mids_Nov_9.jpg" alt="Holden Capital property development finance" data-mce-src="//images.ctfassets.net/8pr762qjocl3/1R2r4eTvLgVcMG3KXixBUP/dc359b9a88d0784b6deb0f9444adca6d/Holden_Capital_Mids_Nov_9.jpg"></picture><div>▲ Boots on the ground: Head of Lending and Investments Gary Connolly, principal Dan Holden and head of broker and new business Callum Short. </div></div><h2>Managing risk</h2> HCP has always been about structuring debt to meet the needs of a specific transaction while ensuring the risk profile was consistent with its investors’ expectations.This requires a lot of careful analysis, firstly to understand the specific financial needs of the developer and the considerations around the project itself such as:<ul><li>Availability of presales</li><li>Scale and complexity of the construction</li><li>Time frames involved</li><li>How shifting economic pressures might influence the outcomes at completion, and</li><li>The resulting risks to the various stakeholders.</li></ul>Holden was quick to point out that this requires an experienced team, able to understand the forces at play and craft a deal that will satisfy all involved as far as possible. As with all commercial transactions there are always compromises to be made but Holden said their track record spoke for itself.The past year challenged their ability to maintain a flow of investment quality opportunities, including pressure to increase returns.Holden said that HCP’s approach has always been to ensure the risk return to investors was fair while also delivering a competitive product to the developer and their record with a high proportion of repeat-client transactions was testament to them achieving this.<div id="52BpgQF4twC3oh1mSGiBov"><picture><img src="//images.ctfassets.net/8pr762qjocl3/2VOoA7han5MInNkzY7lxMg/5f9407e4aee335abdae82ee322fa41b9/HoldenCapital_Collage.jpg" alt="HoldenCapital 400 million loans" data-mce-src="//images.ctfassets.net/8pr762qjocl3/2VOoA7han5MInNkzY7lxMg/5f9407e4aee335abdae82ee322fa41b9/HoldenCapital_Collage.jpg"></picture><div> </div></div>Demand from HCP’s sophisticated investors for quality transactions remained strong and HCP’s head of lending and investments, Gary Connolly, attributed this to the quality of deals offered, but also the consistency and transparency of the offerings themselves.Where some other lenders deduct a management fee from the interest paid by a developer, HCP passes on 100 per cent of interest paid to its investors, further demonstrating that transparency.The HCP team is mindful of providing clear and concise information to its investors to ensure they are fully conversant with the risks involved in each project that they offer and this is demonstrated by the fact that offerings are consistently fully subscribed within 48 hours or less of release.Another point of differentiation is that where other lenders typically operate a pooled fund where investors have limited visibility of where and exactly how their money is actually lent out, HCP investors handpick individual loans that best suit their preferences, including location and product type.<div id="7DWoLwU40mAk25uYWqpWZx"><picture><img src="//images.ctfassets.net/8pr762qjocl3/36QC48Y3N6yND8aCcDquvb/28bc18dcff0292c6c6fc2810620132e3/Holden_Capital_Mids_Nov_9__1_.jpg" alt="Holden Capital finance" data-mce-src="//images.ctfassets.net/8pr762qjocl3/36QC48Y3N6yND8aCcDquvb/28bc18dcff0292c6c6fc2810620132e3/Holden_Capital_Mids_Nov_9__1_.jpg"></picture><div> </div></div><h2>Year ahead analysis</h2> So how do the HCP team see 2024 for developers and the investor base?Holden expected it to deliver continuing and sound opportunities as the market transitioned from the uncertainties of inflation pressures to one of careful optimism.It would depend on how quickly some certainty in pricing could be re-established now that development cost had become more manageable and, even though there would be some humps along the way as the RBA attempted to smooth the way forward, Holden said he was confident that 2024 would provide a sound base for an even brighter 2025.HCP are justifiably proud of achieving their $400 million of loans advanced milestone, and they are more pleased with their record of zero capital losses and negligible default transaction numbers.This is the standard that they work very hard to maintain.For borrowers interested in HCP’s lending options, you can find out more&nbsp;<a href="https://www.holdencapitalpartners.com.au/express-fund-application-urban-dev" data-mce-href="https://www.holdencapitalpartners.com.au/express-fund-application-urban-dev">here</a>.For investors interested in joining HCP’s investor group, you can register&nbsp;<a href="https://www.holdencapitalpartners.com.au/register" data-mce-href="https://www.holdencapitalpartners.com.au/register">here</a>. <hr> The Urban Developer is proud to partner with <a data-mce-href="https://www.holdencapital.com.au/" href="https://www.holdencapital.com.au/" target="_blank" rel="noopener">HoldenCAPITAL</a> Partners to deliver this article to you. in doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers.

Amid inflation and soaring costs, HoldenCAPITAL Partners sustains astute growth, maintaining investor confidence...