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Industrial and logistics developer and manager Logos Property Group is looking to offload a 20-ha purpose-built, industrial estate in Melbourne’s west.Logos put an option on the site at 435-503 Mt Atkinson Road, about 25km west of Melbourne’s centre, in a joint-venture deal with the global building materials giant James Hardie Industries in February last year.Online records show the land, which is part of the Troups Road Logistics Estate, changed hands for $103.7 million.Logos undertook extensive infrastructure work, while James Hardie—the world’s biggest maker of fibre cement products—secured development approval for a 100,000-square-metre production facility.However, brokers say James Hardie’s focus has moved away from Melbourne and towards Sydney and Brisbane, and it will now not progress with the development.Global commercial real estate and investment managers JLL value the turnkey package around $250 million.JLL’s director of industrial and logistics capital markets Joel Scully said potential buyers would be able to collaborate on the design and development of turnkey facilities.“Onshore and offshore capital groups are actively seeking opportunities to secure prime grade assets in major markets with the ability to realise strong growth in the rental market,” Scully said.Industrial and logistic&nbsp;<a href="https://www.theurbandeveloper.com/articles/cbre-jll-logistics-industrial-rent-rises-accelerate" data-mce-href="https://www.theurbandeveloper.com/articles/cbre-jll-logistics-industrial-rent-rises-accelerate">rents have continued to rise across Australia</a>, according to data from CBRE, underpinned by extremely low vacancy rates.“Major occupiers are also seeking opportunities to own their facilities rather than rent to create certainty of occupancy costs which are expected to continue to increase over the medium term,” he said.<div id="51j2Ui95P4NeIlb2I65xXs"><picture><img src="//images.ctfassets.net/8pr762qjocl3/2ARKUKl01O6xZTyEvgYKsW/0febdb9ec19a6f095039357d0fd3feed/Logos_Industrial_Mid__.jpg" alt="An aerial photo showing the Truganina site, which JLL says has already seen considerable infrastructure work. " data-mce-src="//images.ctfassets.net/8pr762qjocl3/2ARKUKl01O6xZTyEvgYKsW/0febdb9ec19a6f095039357d0fd3feed/Logos_Industrial_Mid__.jpg"></picture><div>▲ JLL says considerable infrastructure work has already been undertaken on the Truganina site.</div><div> </div></div>The site—with a potential gross lettable area of about 125,000sq m— has good access to Melbourne’s arterial road network, including the Western Freeway and the M80 Metropolitan Ring Road, and is surrounded by several big industrial and logistics players.JLL head of logistics and industrial capital markets Ben Hegerty said there had been at least 15 groups who had shown interest in the week the property had been listed.Those had included occupiers, institutional groups and data centres.“AI (Artificial Intelligence) computing takes up somewhere between four and eight times more search engine power than doing a normal search through, say, Google,” Hegerty said.“All of the providers are now looking to the AI clients, such as chat GPT and other groups who provide AI-powered paid-prescription arrangements … they’re trying to get those style of users in.“You’re going to see really big, generic data centres that can just churn through heaps of power. And you’ll see them in the outer metropolitan areas, near power nodes.“So something like this, where 20ha 12 months ago might have been too big for a data centre operator…well, now they’re saying 20ha, that might be worth looking at.”The registration-of-interest campaign closes on October 4.

Industrial and logistics developer and manager Logos Property Group is looking to off-load a 20-ha purpose-built, industrial estate in Melbourne’s west.

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The emergence of a sandy strip north of Surfers Paradise as one of the country’s most sought-after new enclaves for the uber rich is under way.Off -the-plan sales in developer Gordon Corp’s $300-million Mantaray Marina and Residences— the first new development on The Spit at the Gold Coast for more than two decades—have been officially launched.And two members of a Gold Coast family are among the first buyers, each snapping up a $12-million villa within the exclusive waterfront development.Also the first project to be delivered under The Spit Master Plan led by the Queensland government following extensive community consultation, Mantaray is among a $1-billion-plus development spree heralding a new era.Approval was recently granted for the $480-million, six-star 150-room Ritz Carlton hotel and superyacht marina project on the neighbouring Mariners Cove site.The Spit has been dormant for more than 20 years since its heady days of development when it became the home to the upmarket Sheraton Grand Mirage Resort and former Palazzo Versace Hotel.The Rothelowman-designed Mantaray Marina and Residences will comprise 24 two, three and four-bedroom apartments, villas and penthouses alongside a 67-berth superyacht marina and an exclusive members-only on-water lounge.Gordon Corp chief executive Tim Gordon has partnered with pub baron Bruce Mathieson to deliver the development.“The Mantaray provides access to a very private world,” Gordon said.“With height limits on The Spit capped at three-levels, we saw an opportunity to deliver something truly boutique yet grand in scale, with an emphasis on lifestyle, outlook and space.”<div id="carousel-root" data-reactroot=""><image-carousel-remove-button><div class="rm-carousel-wrapper"><button id="rm-carousel" class="rm-carousel-btn">Delete</button></div></image-carousel-remove-button><div class="slider-wrap"><image-carousel><div class="slider-el"><img style="height: 100%;" title="manta1.jpeg" src="http://images.ctfassets.net/8pr762qjocl3/3QMnVrjHtiSlqnnLSChDam/c52d1475f380b36e761742b76a6e8b37/manta1.jpeg" data-mce-src="http://images.ctfassets.net/8pr762qjocl3/3QMnVrjHtiSlqnnLSChDam/c52d1475f380b36e761742b76a6e8b37/manta1.jpeg" data-mce-style="height: 100%;"></div><div class="slider-el"><img style="height: 100%;" title="manta 3.jpeg" src="http://images.ctfassets.net/8pr762qjocl3/3C03kB6ofEMXYHPrEFRSib/68e22aaab91819656d66cbd60f44b329/manta_3.jpeg" data-mce-src="http://images.ctfassets.net/8pr762qjocl3/3C03kB6ofEMXYHPrEFRSib/68e22aaab91819656d66cbd60f44b329/manta_3.jpeg" data-mce-style="height: 100%;"></div><div class="slider-el"><img style="height: 100%;" title="manta 4.jpeg" src="http://images.ctfassets.net/8pr762qjocl3/6Y3JovSFzE1wvhRNsD8v3w/4b0ed8c3ac7a48f98fad5887b878e4fc/manta_4.jpeg" data-mce-src="http://images.ctfassets.net/8pr762qjocl3/6Y3JovSFzE1wvhRNsD8v3w/4b0ed8c3ac7a48f98fad5887b878e4fc/manta_4.jpeg" data-mce-style="height: 100%;"></div><div class="slider-el"><img style="height: 100%;" title="manta2.jpeg" src="http://images.ctfassets.net/8pr762qjocl3/vyNNpLOftM3DOPRVtS8HB/a59590728a258ab3f40a3124c0fc1596/manta2.jpeg" data-mce-src="http://images.ctfassets.net/8pr762qjocl3/vyNNpLOftM3DOPRVtS8HB/a59590728a258ab3f40a3124c0fc1596/manta2.jpeg" data-mce-style="height: 100%;"></div></image-carousel></div></div> He said the family members who had purchased the two four-bedroom villas were downsizing from their homes in nearby Paradise Waters and were drawn to the privacy, security and absolute waterfront position of the Mantaray residences.They were among the pre-launch inquiries fielded mostly from local residents.“Those who live and breathe the Gold Coast are very passionate about The Spit,” Gordon said.“And there are only a finite number of residences that can ever be built on this protected peninsula, with the balance of developable land predominately dedicated to hotel and recreation uses.”The Mantaray’s superyacht marina has been designed to “platinum gold anchor status” and will provide long and short-term berth leasing, direct ocean passage through the Gold Coast Seaway and year-round deep-water access, world-class marina operations, on-site security, and full-service concierge.“The <a data-mce-href="https://www.theurbandeveloper.com/articles/private-clubs-high-net-worth-luxury-development" href="https://www.theurbandeveloper.com/articles/private-clubs-high-net-worth-luxury-development" target="_blank">Mantaray Club </a>is the centrepiece of the superyacht precinct, providing an unrivalled marina and clubhouse experience,” Gordon said.A retail plaza will provide a link connecting the precinct to its surrounds and providing access to nearby restaurants and cafes.

 Two members of the same family are among the first to scoop up residences in the ultra-luxe Mantaray superyacht development at the Spit…

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Investors are lining up for alternative assets including quality healthcare real estate as valuations for traditional commercial property asset classes such as office and retail languish.You don’t have to look hard to see it happening—take Dexus’s recent fully subscribed $220-million equity raise for its unlisted healthcare property fund, for example.Dexus Healthcare Property Fund (DHPF) has returned a five-year fund return of 13.6 per cent to investors to March 31, 2023.The fund recently bought 9.95 per cent of Celsus Holding, which, along with Dexus Community Infrastructure Fund and Dexus Core Infrastructure Fund, manages the Royal Adelaide Hospital.&nbsp;Oracle Investment Management portfolio manager Jack Magann notes Dexus has done well to raise capital for this unlisted fund, given property investors Charter Hall and MA Financial recently closed investor redemptions on two unlisted property funds.&nbsp;“Investors are looking for assets that will continue to provide income and capital growth in an uncertain environment,” he says.“While they are likely steering clear of unlisted office and retail funds, healthcare assets can provide more certainty for investors looking to park their capital in real estate.”<div id="2YJV10CJgN10BNnNU4Ch2U"><picture><img src="//images.ctfassets.net/8pr762qjocl3/59bJ5HeMB4JkqGCANs5yrA/cd9c58d109bde479be70b0b13f61969c/8.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/59bJ5HeMB4JkqGCANs5yrA/cd9c58d109bde479be70b0b13f61969c/8.jpg"></picture><div>▲ Royal Adelaide Hospital, managed by Celsus Holding, Dexus Community Infrastructure Fund and Dexus Core Infrastructure Fund. </div></div>Australian Unity general manager—healthcare property Chris Smith says recently developed hospitals in great locations are especially attractive assets because they so rarely come on the market.He also notes investors in the healthcare property sector tend to have specific characteristics.“Hospitals grow over time, so owners need to be supportive of tenants’ businesses so they can grow but also stay at the property. What we like to do is buy land in precincts with strong future growth prospects.”Australian Unity owns one of Australia’s largest unlisted healthcare property funds, its $3.9-billion Healthcare Property Trust, which returned 14.59 per cent a year for the five years to the end of June 2023. The fund raised $335 million of equity in March this year.&nbsp;An example of a prime hospital property Australian Unity owns and manages is its Sunshine Private Hospital in St Albans, Victoria, Australia’s first all-electric private hospital.“We’ve recently opened stage one and it has been well received by the community,” Smith says.&nbsp;Australian Unity also recently bought 7.5ha of land directly opposite the new Melton Hospital site, about 50km west of the Melbourne CBD.&nbsp;<div id="3F2mjk31Zp8DUvULSCTAtV"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6eIrWK1hmIeoryKUkp1tgo/879ca28cc3836f66b8882ca944128bc4/Mid_article_resizes__54_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/6eIrWK1hmIeoryKUkp1tgo/879ca28cc3836f66b8882ca944128bc4/Mid_article_resizes__54_.jpg"></picture><div>▲ A render of the planned Melton Hospital in western Greater Melbourne. </div></div>“This is an opportunity to partner with a tenant for the long-term,” Smith says. Australian Unity’s healthcare property trust has also just opened a $44-million sub-acute hospital at Kingswood in Western Sydney, directly opposite the Nepean Hospital.Leon Hadchiti, national director for healthcare for commercial real estate business Colliers, says the demand-supply dynamic is supporting investor appetite for properties in the sector.“While acute private hospitals are still highly sought-after, acquisition opportunities are increasingly rare and often at a premium as buyers look for high-quality assets with strong tenant covenant, WALE and potential development upside,” he says.&nbsp;Weighted average lease expiry (WALE) measures the average length of leases for a property or portfolio of properties and is an indicator of how sustainable cash flow is.&nbsp;Another recent marquee transaction was HMC Capital’s $1.2-billion acquisition of Healthscope Private Hospital’s portfolio of 11 private hospitals, completed at a yield of 5.8 per cent.Hadchiti says specialist medical centres, which offer a range of allied health services and are typically in accessible town centre locations, are also sought after as they provide a good level of return on a medium WALE of 5 to 10 years.&nbsp;“They are also at price points that give high-net-worth private investors and small syndicated funds the ability to invest in the sector,” he says.“Also, some of the larger institutional funds are seeking to recycle capital through disposing these smaller assets in favour of private hospitals, life science facilities and development opportunities.”<div id="4nM6DIsKSLPbNnTU8TYrXl"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3mVtdTsPsiOi2tdLpx2QDH/fe0f636a376bdeece43eb44ffdbe6068/vitoria.jpeg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/3mVtdTsPsiOi2tdLpx2QDH/fe0f636a376bdeece43eb44ffdbe6068/vitoria.jpeg"></picture><div>▲ Charter Hall recently took a 50 per cent stake in the The Victoria Clinic at Prahran. </div></div>Magann says mental health facilities have been in high demand. A recent transaction is Charter Hall’s 50 per cent acquisition of the purpose-built mental health hospital, The Victoria Clinic in Prahran, in May for $51 million on a 3.99 per cent yield. The property is fully leased to Healthscope on a 20-year lease.<h2>Demand drivers</h2> Experts say tenant and lease quality tend to determine the attractiveness of healthcare assets.&nbsp;“Tenants normally agree to a triple net lease with a term of 10 or more years. This certainty makes this type of investment very attractive,” Magann says.In a triple net lease, the tenant is responsible for paying the base rent, the property’s operating expenses and insurance, which offers tax deduction benefits.&nbsp;Yields for healthcare properties are sitting in a range of 3.99 per cent to 5.99 per cent.Quality assets such as new and refurbished hospitals are at the upper end of the range and smaller, sub-A-grade assets sit at the bottom of the range.Societal trends such as ageing and a growing population are driving demand for healthcare services and supporting healthcare property values, a dynamic that’s likely to continue.Conversely, listed healthcare asset valuations are being brought down by the general malaise across the property.At time of writing, HealthCo Healthcare and Wellness REIT, which invests in hospitals, aged-care facilities and childcare centres, was trading at a 19 per cent discount to net tangible assets (NTA).“But listed healthcare is still doing better than the office sector, across which funds are trading at an average 31 per cent discount to NTA,” says Magann.And it is a situation—healthcare real estate outperforming office and retail—that seems higly likely to continue for the foreseeable future. <hr> You are currently experiencing The Urban Developer Plus (TUD+), our premium membership for property professionals. <a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans">Click here to learn more.</a><div id="2GhuueZl01Zwo2aFfjNVi2"><picture><img src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" alt="TUD + Banner" data-mce-src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg"></picture></div>

Investors are lining up for quality healthcare real estate as valuations for traditional commercial property asset classes such as office and retail languish...

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The Urban Developer proudly presents an immersive online course designed to explore the fundamentals of marketing a new development project.&nbsp;Attendees will gain valuable into the importance of brand identity, how to develop an effective marketing plan, and the key considerations for crafting a successful sales strategy.&nbsp;Renowned expert Andrew Hoyne, from Hoyne, is leading this comprehensive program, which will equip participants with the essential skills and knowledge to excel in marketing property development projects successfully. <a data-mce-href="https://cvent.me/e450Bw?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial" href="https://cvent.me/e450Bw?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial" target="_blank" rel="noopener">Click here to register</a> <hr>AGENDA<hr> PART ONEDeveloping a Property Marketing Campaign<ul><li>Developing a marketing strategy</li><li>Naming: opportunities, pitfalls and approach</li><li>Identifying the purpose of the identity (place brand or campaign)</li><li>Step-by-step process for developing a compelling marketing concept</li><li>Essential components of a project’s marketing campaign</li><li>Applying the campaign concept in various marketing initiatives and channels</li><li>Common pitfalls in campaign development for developers and marketers</li><li>Case studies showcasing effective marketing campaigns</li></ul> PART TWOBuilding a Marketing and Media Plan<ul><li>Elements to include in a comprehensive marketing budget</li><li>Strategies for developing a strategic media and advertising schedule</li><li>Selecting the most effective marketing channels and justifying the choices</li><li>Key performance indicators (KPIs) for various marketing channels</li><li>Leveraging digital marketing, listing portals, social media, and content marketing</li></ul> PART THREEExecuting Your Sales Strategy<ul><li>Identifying the key audiences</li><li>Planning the key phases of a comprehensive sales plan</li><li>Understanding the distinctions between retail and wholesale channels</li><li>Techniques for nurturing and converting leads into sales</li><li>Essential KPIs for measuring leads and conversions</li><li>Exploring emotional triggers that influence buyer decisions.</li></ul> <h2>Meet our presenter</h2><div id="5dnJ4G4BbNx1Qf1HqnDn6f"><picture><img src="//images.ctfassets.net/8pr762qjocl3/79LyDfNBVRNELaLmA0KoS9/23c8d5eaf47e414d516a49fff6df408c/Screenshot_2023-08-14_at_3.16.32_pm.png" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/79LyDfNBVRNELaLmA0KoS9/23c8d5eaf47e414d516a49fff6df408c/Screenshot_2023-08-14_at_3.16.32_pm.png" width="217" height="216"></picture></div>Andrew Hoyne Founding Principal HOYNEAndrew, the founding principal of Hoyne, has had a remarkable 30-year career in project marketing, collaborating with major Australian and international developers and local governments to create iconic landmarks across the country. His global travels have reinforced the transformative power of effective placemaking on communities.Passionate about meaningful places, Andrew authored The Place Economy, a significant series of resource books exploring best-practice placemaking worldwide and its social and economic impacts.A sought-after speaker, Andrew presents at prestigious local and international conferences, including SXSW, Property Council NZ, ULI, International Place Branding Association, Australian Graphic Design Association, and International Urban Design Conference. His achievements in project marketing continue to inspire the industry globally. <hr> The Project Marketing for Property vCourse will take place virtually on Thursday 19 August. <a data-mce-href="https://cvent.me/e450Bw?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial" href="https://cvent.me/e450Bw?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial" target="_blank" rel="noopener">Click here to register and learn more.</a>

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Huge investment in public and private sector funded projects is driving growth and renewed developer focus on the Tweed Coast in far north NSW.And with the region’s revival in full swing, fund manager Clarence Property has made its move to capitalise on the treasure hunt for developable sites.After a number of “approaches” from Sydney and Melbourne developers, it has put the last remaining development sites in the oceanfront enclave of Casuarina Beach on the block.Based on the most recent deals in the tightly held coastal strip, it is expected the divestment of the five lots—totalling almost 1ha—will deliver a windfall of well in excess of $20 million.“The beachfront market up and down the coast seems to be pretty resilient,” Clarence Property managing director Peter Fahey said.“But while the market at the top end is still strong there’s a scarcity issue.“And we’ve been getting a fair few approaches, mostly from high-end residential developers.”So the timing just seemed right to wind up its lucrative decade-long syndicate play and sell off the 9663sq m balance of its Casuarina Beach holding, he said.Brisbane-based Azure Development Group settled an almost $21 million deal for a 7354sq m parcel within the town centre in March last year. Also, a few months earlier, <a data-mce-href="https://www.theurbandeveloper.com/articles/casuarina-s-aud76m-pama-project-waved-through" href="https://www.theurbandeveloper.com/articles/casuarina-s-aud76m-pama-project-waved-through" target="_blank" rel="noopener">a joint venture between Holm Developments and DeMartini Fletcher Property Development</a> secured a neighbouring 4083sq m site for $8.69 million.Fahey said the Tweed region had “its own head of steam” with a $1-billion injection of major infrastructure investment that was driving “big demand” for end-product.The new $723 million, 430-bed Tweed Valley Hospital development at nearby Cudgen is scheduled to open in early 2024 and the Gold Coast Airport—just across the Queensland-NSW border at Coolangatta—has undergone a $260-million terminal expansion.Fahey said both projects were having a major impact, strengthening demand for development sites and housing in the Tweed.“The airport, in particular, is not to be underestimated for its influence … it’s a major talking point with buyers, quick access to the airport,” he said.<div id="6s32lxVE4wagHQvYPRNGXK"><picture><img src="//images.ctfassets.net/8pr762qjocl3/564HvGwMziOQK4S9eMvWjI/7d53f7ada8bf3185b200c402da8148b3/Tweed_Shopping_Centre.jpg" alt="Tweed Shopping centre redevelopment renders." data-mce-src="//images.ctfassets.net/8pr762qjocl3/564HvGwMziOQK4S9eMvWjI/7d53f7ada8bf3185b200c402da8148b3/Tweed_Shopping_Centre.jpg"></picture><div>▲ A render of the $900-million redevelopment of the Tweed Mall. </div></div>As well, concept plans were recently unveiled for the staged <a data-mce-href="https://www.theurbandeveloper.com/articles/tweed-heads-redevelopment-masterplan" href="https://www.theurbandeveloper.com/articles/tweed-heads-redevelopment-masterplan" target="_blank" rel="noopener">$900-million transformation of the Tweed Shopping Mall</a> by fund manager Elanor Investors Group. It comprises 13 new buildings of up to 15 storeys, including more than 1400 townhouses and apartments.Clarence Property is offloading the balance of its Casuarina Beach holding via an expressions-of-interest campaign led by CBRE’s Mark Witheriff and Daniel Doran and Colliers’ Brendan Hogan and Steven King.The lots range from 1283sq m to 2482sq m and are being offered individually or in one line.Witheriff said strong interest was expected from residential and mixed-use developers with the sites allowing for a mix of three and four-storey developments.“The approved Casuarina Beach Town Centre plan permits a broad range of uses including shoptop housing with ground-level commercial, medical and retail spaces fronting Grand Parade as well as three-storey residential-only boutique apartments,” he said.Hogan said: “The region is playing host to a massive amount of investment which is underpinning strong population growth and sustained long-term growth in property values.”Casuarina Beach was developed by Consolidated Properties but in 2012 Clarence Property swooped on the remaining 21ha of land in the masterplanned community in a $6.1-million deal at what Fahey described as “the lowest ebb of the post-GFC market”.

Huge investment in public and private sector funded projects is driving growth and renewed developer focus on the Tweed Coast in far north New South Wales...

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An expressions of interest campaign has been opened for a prime industrial precinct in industrial-stock-starved south-east Queensland.The development is stage one of Yarrabilba’s new Mixed Industry Business Area with 15 blocks available, ranging between 1000sq m to 4710sq m.Yarrabilba is a masterplanned community by Lendlease and lies in the growth area between Brisbane and the Gold Coast.JLL associate director for industrial Harry Homan, who is marketing the land alongside Donnelly and Associates, said the area had been practically devoid of available land.“We’ve seen demand—and rates—for industrial property grow significantly during the past 12 months,” he said.“Aside from one small-lot land release in Stapylton, which only has a few blocks left, there isn’t any competition for this kind of industrial offering.“As the closest precinct to the south of Brisbane, reaching out to its western industrial precincts and then looking towards the Gold Coast, it presents an impeccable location.“It’s also been strategically positioned near Yarrabilba’s future town centre for easy access to major arterial roads, including the Mt Lindesay Highway.”As pressures remain on industrial, <a data-mce-href="https://www.theurbandeveloper.com/articles/australia-industrial-real-estate-colliers-report-dwight-hillier" href="https://www.theurbandeveloper.com/articles/australia-industrial-real-estate-colliers-report-dwight-hillier" target="_blank" rel="noopener">the ‘golden child’ of assets</a>, businesses are looking at other areas for growth, Homan said.“Certainly, where businesses aren’t tied to a particular franchise location or a piece of major infrastructure like the Port of Brisbane, this kind of location in a masterplanned community can be an attractive offering,” he said.The MIBA parcel was pre-approved for a wide variety of uses, from showrooms and a garden centre to entertainment, recreation and low and medium-impact industries.He sees particularly strong potential for showrooms, warehousing and self-storage.“Agricultural supply premises or showrooms would also be a strong drawcard as there is a lot of farmland in the surrounding areas,” he said. &nbsp; Civil works for the precinct were set to start about July this year, with completion targeted for mid-2024.The expression of interest campaign is due to close on July 12th.

Expressions of interest are being sought for rare industrial zoned land between Brisbane and the Gold Coast…

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ICD Property, the Australian developer working on Auckland’s tallest tower, has decided to exit the project, listing it for sale just months after winning approval.ICD managing director Matt Khoo said the developer had decided to sell its first international site to allow it to pursue other projects in Australia.“Given the current state of the global economy, plus Australia’s property market, we felt it was best for ICD Property to focus on the delivery of our existing pipeline and deliver to our current buyers before focusing on expansion or new acquisitions,” Khoo told The Urban Developer.He also noted that current issues in the property market made things uncertain.“It’s no secret Australia’s property industry is currently facing challenges,” Khoo said.“With interest rates and construction escalation rising, we felt it was most important for ICD to focus on the successful delivery of our existing developments already in sales and construction phases and prioritise delivering homes to our committed buyers.”Interest, in the short term, in other international acquisitions was not on the cards, he said.“At this point ICD Property is focusing its resources on our projects already under way and are prioritising the successful delivery of existing projects before pursuing expansion and new acquisition opportunities,” Khoo saidThe 1461sq m site at 65-71 Federal Street, on the corner with Kingston Street was ICD Property’s first international acquisition and <a data-mce-href="https://www.theurbandeveloper.com/articles/icd-property-auckland-residential-tower-approval" href="https://www.theurbandeveloper.com/articles/icd-property-auckland-residential-tower-approval" target="_blank" rel="noopener">was granted planning permission</a> with resource consent from the Environmental Protection Authority in August.<div id="4PGb6mt2vmIzlGqP9W2UNi"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6lfEvOqF2mria2ytPDgaoJ/392e3cf270caddc7ea68d3486424e533/Mid_article_resizes__9_.jpg" alt="The Federal Street tower would dramatically alter the Auckland skyline." data-mce-src="//images.ctfassets.net/8pr762qjocl3/6lfEvOqF2mria2ytPDgaoJ/392e3cf270caddc7ea68d3486424e533/Mid_article_resizes__9_.jpg"></picture><div>▲ The Federal Street tower would dramatically alter the Auckland skyline. </div></div>It was granted under the Covid-19 Recovery (Fast Track) Consenting Act 2020 which was designed to speed up the planning approval process.Plans for the site include a 55-storey apartment building with a nine-storey podium, 357 apartments and a 1000sq m ground floor marketplace with cafes, restaurants and event spaces.The tower is 183m, just a few metres less than the 187m Seascape residential project being built on Custom Street East. It has a gross floor area of 47,650 square metres.As the site is more elevated than Seascape, the tower would be the <a data-mce-href="https://www.theurbandeveloper.com/articles/auckland-major-development-projects" href="https://www.theurbandeveloper.com/articles/auckland-major-development-projects" target="_blank">highest structure in the Auckland CBD</a>, other than the 328m Sky Tower.The Federal Street project has an estimated end value of $664 million.A seven-level parking building is currently on the site and future owners will be able to work with more development allowance than other sites in Auckland’s city centre with a plot ratio of 29:1.&nbsp;“It is an extremely rare opportunity, offering more than double the developable floorspace of any other approved land holding in Auckland’s CBD to date,” Bayleys national commercial and industrial director Ryan Johnson said. &nbsp;“In combination with current annual holding income in excess of $1 million from a car parking lease and the site’s corner position in an area undergoing significant rejuvenation makes it an exceptional landmark development offering.”<div id="5IgRUe2fBGKJbpa2ifYjSA"><picture><img src="//images.ctfassets.net/8pr762qjocl3/2D2y2GjrmUrRtxPLiHaLKR/6cd51c610276c42e901a3c71f0a72d23/Auckland_ICD_exit_story_mid02.jpg" alt="A render of the street-level marketplace area with cafes, restaurants and event spaces." data-mce-src="//images.ctfassets.net/8pr762qjocl3/2D2y2GjrmUrRtxPLiHaLKR/6cd51c610276c42e901a3c71f0a72d23/Auckland_ICD_exit_story_mid02.jpg"></picture><div>▲ A render of the street-level marketplace area with cafes, restaurants and event spaces planned for the tower. </div></div>Bayleys will manage the marketing and sale of the property through an international expressions-of-interest campaign.Secure Parking New Zealand currently pays an annual rent of $1.45 million on a lease that expires in April 2029, with a three-month surrender/termination clause in favour of the lessor.<div id="5IgRUe2fBGKJbpa2ifYjSA"></div>ICD bought the site opposite the Sky Tower in 2018. The design for the tower by Woods Bagot and New Zealand firm Peddle Thorp was selected after a design competition.The design went through extensive consultation with the Auckland Council and mana whenua.Khoo said the developer’s knowledge of the project was also on the table for the future owner to use.“In the process of doing this, we have also built a very strong support team of leading architects, engineers, urban landscapers and other service providers,” Khoo said.“We would be pleased to assist the next owner in whatever way we can, should they wish to proceed with this project.”<div id="5aPgFpQ7o9fBTVmRciKlqh"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4c6gzOpovLhG3ciHQvOf34/35046bbcec506e358d2922e157d77530/Mid_article_resizes__11_.jpg" alt="A render of the Federal Street skyscraper at street level." data-mce-src="//images.ctfassets.net/8pr762qjocl3/4c6gzOpovLhG3ciHQvOf34/35046bbcec506e358d2922e157d77530/Mid_article_resizes__11_.jpg"></picture><div>▲ A render of the Federal Street skyscraper at street level. </div></div>Baileys capital markets associate director Cameron Melhuish said other uses for the site were also possible.“The significant medium-term holding income provides additional flexibility to investigate other ways of adding further value to the property,” Melhuish said.“This could include considering incorporating other uses permitted under the city centre zoning such as office or hotel accommodation.”The site is close to the Britomart transport centre, the Aotea civic, arts and entertainment area, the Sky City convention centre, and several hotels and residential projects on Albert and Hobson streets.The expression of interest campaign will end on December 8.&nbsp; <hr> You are currently experiencing The Urban Developer Plus (TUD+), our premium membership for property professionals. <a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans">Click here to learn more.</a><div id="2GhuueZl01Zwo2aFfjNVi2"><picture><img src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" alt="TUD + Banner" data-mce-src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg"></picture></div>

Uncertain times in construction back home have forced the hand of the Australian developer, as it lists the Federal Street skyscraper in Auckland just months after it was approved…

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Rents are rising and the bums are on seats as coworking spaces become the favourite in the back-to-office stakes.While the national office vacancy rate is increasing slightly in the main markets of Sydney and Melbourne, the popularity of coworking is bounding ahead.The Australian Flexible Office Space Report released by Rubberdesk in March revealed requests hit a peak in March from businesses in the sub-150 staff category.Furthermore, prices for desks in Melbourne, Brisbane, Adelaide, and Canberra all experienced quarter-by-quarter increases of 5 per cent or higher, while Sydney remained steady.The addition of a coworking space in CBD office towers is a winning move, according to tenant advisory director at Collier’s Justin Lam.“The importance of flexibility and added amenity in buildings is critical for tenant requirements, as the workforce is looking for better quality workspaces than their home offices,” Lam says.“By having a third space operator in the building, landlords, owners and prospective buyers of office assets in turn are able to capture a wider tenant pool, as their asset offers meeting rooms, event spaces and offices on demand to cater for tenant needs.“Coworking spaces/third spaces are an important piece to the makeup of a building stack. <div id="6kYoHRB3CazPFTJrvAxX4k"><picture><img src="//images.ctfassets.net/8pr762qjocl3/2cgrGgiKhZm1y8mEhaFwPv/a9fb2adcaa34c748f4b062d0fe3a00b3/1.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/2cgrGgiKhZm1y8mEhaFwPv/a9fb2adcaa34c748f4b062d0fe3a00b3/1.jpg"></picture><div>▲ Inside The Commons coworking space at 388 George Street, Sydney (also pictured top). </div></div>“Tenants are demanding more flexibility and amenity in offices as the ‘flight to experience’ (amenity plus quality) trend continues.”Lam says the long-heralded flight to quality for office space was the reality of today, and that includes coworking spaces.“Despite the Melbourne CBD vacancy rate being 13.8 per cent, there has been a split in the market, with prime grade options leasing well and B-grade options falling behind,” he says.“Similarly, in the coworking sector, higher-grade, quality, well-located offerings continue to lease well, whereas secondary coworking spaces are not performing to the same level.“Most operators with newer and high-quality spaces are experiencing high occupancy levels which demonstrates the strength of the market.”Rents, however, are increasing with the report saying that larger offices for teams of 50 or more staff had a 23 per cent rate increase across the second half of 2022.Sydney CBD costs now sit at $958 a desk, however, in North Sydney this price drops dramatically to a price range between $550 to $600 a desk, though there are some offering as low as $400 a desk.The amount of flexible office spaced in Sydney increased by 15.5 per cent quarter on quarter.<div id="3KsOYKzM1RAI0J4UuWF1hb"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4tqwPZDInSMxCs1BjFyAwT/1fda2e58dde532f861f699b842b5636f/3.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4tqwPZDInSMxCs1BjFyAwT/1fda2e58dde532f861f699b842b5636f/3.jpg"></picture><div>▲ The Commons George Street in the Sydney CBD. </div></div>“Sydney has the strongest demand for coworking spaces, which has been partly driven by the demand from large enterprise clients seeking to relocate and downsize post-pandemic, as well as a quick recovery for their CBD,” co-director and founder of The Commons, a coworking space provider, Cliff Ho says.“Melbourne coworking spaces are also performing well and are fully occupied.“Coworking is becoming more popular in Brisbane, Adelaide, and Perth, but the demand is not yet as high as in Sydney and Melbourne.“Throughout the peak of Covid, we remained very confident in the future of coworking in Australia.“We signed four new deals during the pandemic because we had complete faith in the post-pandemic growth of the sector.“Our confidence has paid off as we are currently experiencing waitlists for offices in most of our locations and have had a significant increase in membership enquiries this year.“Across the sector, strong demand for flexibility has resulted in higher overall occupancy rates.”The Commons’ new sites include a $13-million flagship Sydney CBD location at 388 George Street, which offers 50-person office suites complete with private kitchenettes and meeting rooms.<a href="//images.ctfassets.net/8pr762qjocl3/5GimMQfLl0ZVqJNOxjSb5W/6867df1ccd1d90428104e631ac49062b/1.jpg" target="_blank" rel="noopener" data-mce-href="//images.ctfassets.net/8pr762qjocl3/5GimMQfLl0ZVqJNOxjSb5W/6867df1ccd1d90428104e631ac49062b/1.jpg"></a><div id="3UqwKpOawiMxBDyD1zTexi"><picture><img src="//images.ctfassets.net/8pr762qjocl3/5GimMQfLl0ZVqJNOxjSb5W/6867df1ccd1d90428104e631ac49062b/1.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/5GimMQfLl0ZVqJNOxjSb5W/6867df1ccd1d90428104e631ac49062b/1.jpg"></picture><div>▲ The cafe in The Commons Surry Hills. </div></div>An additional floor opened at George Street in March, taking The Commons’ footprint in the building to 5100sq m and adding capacity for 262 new members.The Commons had more than 500 membership and event space inquiries in January this year, a 71 per cent increase year on year.And Australia is in a better space than the US market, Ho says.“Our work-life balance is better, and Australians value coming into the office and collaborating, which has helped to boost the demand for coworking spaces,” Ho says.“Australia also offers a greater range of smaller coworking spaces that are tailored to their local community, which helps draw staff back into the office with spaces that truly suit their individual needs.”Coworking spaces are also expected to start specialising into specific segments such as coworking for parents and creative coworking, allowing greater marketing potential, while expanding target reach.“The future of coworking is like that of hotels—there will be different brands and styles, and not one brand will fit all businesses,” Ho says.“I expect we’ll see continued strong demand from larger companies seeking to downsize.“One of the many benefits of coworking spaces is their ability to quickly adapt to market demands, and they will continue to be flexible to meet the changing needs of businesses of all sizes.” <hr> You are currently experiencing The Urban Developer Plus (TUD+), our premium membership for property professionals. <a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans">Click here to learn more.</a><div id="2GhuueZl01Zwo2aFfjNVi2"><picture><img src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" alt="TUD + Banner" data-mce-src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg"></picture><div> </div></div>

Rents are rising and the bums are on seats as coworking spaces become the favourite in the back-to-office stakes…

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By its very nature, buying off-the-plan comes with a degree of uncertainty, but the growing number of building company collapses, relentless interest rate hikes and construction delays is taking a toll in a number of markets.Selling off the plan in the current market is a tough job—nervous buyers insist on being able to walk through properties as they near completion as a sign of certainty that they will get what they paid for.OpenLot.com.au says a growing number of people who bought residential property via off-the-plan contract are looking to on-sell prior to settlement.Founder Qi Chen says that just 22 per cent of seller requests on the listings site were for off-the-plan properties in 2021.This rose to 47 per cent in 2022 as interest rates rose.Construction problems and a rental crisis will continue to drive buyers to purchase established homes to avoid uncertainty, Ray White chief economist Nerida Conisbee says.<div id="6AyhuIryIoic0Q9dsnCcEm"><picture><img src="//images.ctfassets.net/8pr762qjocl3/73sCoVVk03FeQ07Ahi9Hm6/8a13de27180d7692340cabaf136bf175/1.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/73sCoVVk03FeQ07Ahi9Hm6/8a13de27180d7692340cabaf136bf175/1.jpg"></picture><div>▲ New home builds will be slow, says Ray White chief economist Nerida Conisbee. </div></div>Data indicates the number of new home approvals is now trending to its lowest level in more than decade.In February, 12,661 homes were approved, a 30 per cent decline from 12 months ago, Conisbee says. &nbsp;“In historic terms, this is exceedingly low but many of these homes will not be built quickly given construction cost increases,” she says.“Many people who would otherwise have bought a new home will be pushed to the established market, either because the cost to build a new home is too high, it is difficult to find a builder or simply there is no availability in the suburb they want to live in.”In fact, demand for off-the-plan listings in Australia has fallen by 60 per cent, Geonet Property and Finance Group chief executive Chad Egan says.The off-the-plan specialist says the period between signing on the dotted line, paying a deposit and settling can be incredibly stressful for would-be homeowners.<div id="21qpq9ql29jvsAWwMHH2Hl"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6iDNbFVb45TdpvkOUtxl7u/1196ff6de00f396a4c3f94b1cde6eb11/2.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/6iDNbFVb45TdpvkOUtxl7u/1196ff6de00f396a4c3f94b1cde6eb11/2.jpg"></picture><div>▲ The focus has shifted to investors, says Geonet Property and Finance Group chief executive Chad Egan. </div></div>“To accommodate this shift, we are seeing off-the-plan developers restructuring their original masterplans into cash-flow positive and built-to-rent homes, and focusing more on the investor market rather than owner-occupiers,” Egan says.In particular, he says, there has been an increase in demand for off-the-plan properties that offer multi-tenant housing and properties that come under the National Disability Insurance Scheme (NDIS). The nation needs another 33,000 homes by 2032 under the scheme.Financial advisor and buyers’ agent Nathan McCullum reports some consolidation in sales activity in the off-the-plan market as buyers spend more time looking before closing a deal.“There’s definitely a lot of projects on the market that were launched a couple of years ago that still haven’t sold across NSW,” the McCullum Advisory director says.“Sales volume hasn’t slowed down, but the length of time to get to the transaction is a lot longer—buyer are taking more time to make a decision.”In many cases, buyers lack confidence that they will get the product they’ve been promised.<div id="7FjThqjaEpZq9ygK6F3LsC"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4Sya7D6Cbxn8ZM1tkZewdr/2793a5170cb6912e54ca3aad0d558273/3.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4Sya7D6Cbxn8ZM1tkZewdr/2793a5170cb6912e54ca3aad0d558273/3.jpg"></picture><div>▲ Buyers want certainty, says financial advisor and buyers’ agent Nathan McCullum. </div></div>Developers need to understand that the market has evolved and buyers are smarter, McCullum says.“They know they’ve got more choice. They’re well informed about the market and your reputation out there,” he says.“Buyers want certainty that a developer has a track record. They want to see the property, because they’ve seen the headlines about developments falling over.”Working closely with strata managers and building managers to ensure the building handover is seamless and placing a greater focus on greater customer service is crucial, McCullum says.&nbsp;The dampened market is prompting some wary developers to sit it out until the market improves, while others are securing funding elsewhere and pushing on.Developer and builder Pitard Group recently revealed it secured funding to largely complete its $130-million apartment project in Melbourne’s Elsternwick before it began its marketing campaign.<div id="5GYzYIM4P7DxFbQ161ySi3"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4qXYu5tpi5jauccM1wdSte/ed490e8cc3c4805c0438bd49426bdf0a/Mid_article_resizes__30_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4qXYu5tpi5jauccM1wdSte/ed490e8cc3c4805c0438bd49426bdf0a/Mid_article_resizes__30_.jpg"></picture><div>▲ Seafarers in Melbourne: Colliers says buyer enquiries are the strongest they’ve been since 2016. </div></div>However, off-the-plan sales remain steady for pockets of the market that are meeting buyer demand for premium and unique properties.Colliers director of residential, Victoria, Nancy Monitto, says buyer enquiries are the strongest they’ve been since 2016.There’s also an understanding that supply in Melbourne will significantly drop due to the construction delays, which is further incentivising buyers to invest in near-completion projects, she says.Colliers has been pushing forward with its waterfront <a href="https://www.theurbandeveloper.com/articles/riverlee-seafarers-melbourne-apartment-sales-development-construction" data-mce-href="https://www.theurbandeveloper.com/articles/riverlee-seafarers-melbourne-apartment-sales-development-construction">Seafarers</a> development in Melbourne, which began off-the-plan in 2020.While some apartments in the 113-apartment development atop an eco-luxury hotel development remain on the market, Monitto is confident.“Buyers definitely want all of the boxes ticked, but genuine large format owner-occupied properties are few and far between and are heavily sought after in the market, driving strong interest,” she says. <hr> You are currently experiencing The Urban Developer Plus (TUD+), our premium membership for property professionals. <a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans">Click here to learn more.</a><div id="2GhuueZl01Zwo2aFfjNVi2"><picture><img src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" alt="TUD + Banner" data-mce-src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg"></picture></div>

Rarely easy, even in the best of times, off-the-plan sales have tightened as buyers nervously eye builder collapses, interest rate hikes and construction delays…

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<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl">In the rapidly evolving world of digital, it is easy to get caught up in the latest trend or the new gadget.Never before has there been so much noise. Laptops, smart phones, tablets and other devices make it easier to connect with those vying for our attention and there are literally millions of new messages generated daily all adding up to a lot of competition for attention.Creative Strategy firm Blirt believes people are often forgotten in the rush to introduce the latest technology.Blirt Partner Andrew Erwin says understanding the customer’s individual path and experience led the creative group to deploy a marketing automation platform that treats people like people. We map the customer journey to ensure customers not only have a successful experience but return to do business time and time again as a satisfied repeat buyer.“Blirt deploys marketing automation platforms to gain results. We attract and nurture new leads, all in a truly automated system that supports inbound activities like blogging, public relations, social and partnered content while also catering to outbound advertising, display advertising, email, paid content and searches.”The irony is that while marketing automation is itself considered the fastest growing marketing technology, unlike some, it’s directly linked to understanding people - the people who can make your property venture profitable and sustainable. And the investment is well worth the effort with research showing that 75% using marketing automation see a ROI within 12 months and almost half within six months.“At Blirt we see the customer journey like a series of cogs. They are strategic moving parts brought together to create a dynamic process where value is created and exchanged between you and your customer. The customer journey is mapped to bring clarity to the steps where the barriers to purchase need to be overcome to result in a transaction and more importantly fulfilment,” said Mr Erwin.The oil for the cogs is information. Information delivered through the automation process using the right key messages through the correct channels. Blirt’s COGS are further understood and brought to life as Contact, Opportunity Gain and Service.“Contact refers to those opportunities where we can contact or reach potential customers and provide them with a solution to their problem. It’s not only about visibility and placement but it’s about language. Opportunity is the stage when the customer is digging deeper to evaluate and assess their options. It’s a critical step because the right answers at the right time may nudge them towards you rather than your competitors.”Mr Erwin said the Gain was perhaps the most important part in the process because it was where the value exchange happened. Both you and your customer need to experience value in the transaction. As a developer you may achieve ‘value’ on settlement and that makes sense or you wouldn’t be in the business.“Your customer may see their value proposition in turning the house into a home, being closer to work and local schools, having great neighbours in a community that cares or on an increase in capital value. But whatever their point of value the process aims to ensure it is achieved and recognised so that the customer returns to the the Gain step in the process because of their trust in you. It represents a win win because your customer is now loyal and will come knocking on your door knowing you have the solution to their future property problem without having to repeat earlier steps. And because you as a developer have delivered them value they have faith that you will deliver it again.”Blirt believes that understanding the customer journey and automatically delivering the messages to remove boundaries at the right stages in the process are crucial elements in the growth of any customer focussed business. “What makes our automation platforms all the more compelling is that we believe in transparency so that our clients clearly understand the real cost to meet business revenue targets including web visits, conversion rates on marketing spend, the true cost of every lead that results in revenue and the total revenue delivered for the marketing spend.“We deliver a truly measurable process to help you grow your business and to remain successful in a market that has never been more competitive. Our ROI calculator helps property developers and marketers understand how much they need to spend to drive the sales funnel.”Blirt is a creative strategy group headquartered in Queensland with offices in Brisbane, the Gold Coast and Melbourne and servicing clients all over Australia. This article has been prepared in partnership with Blirt and TheUrbanDeveloper.com team.</div></div></div></div></div>

Understanding customer’s individual paths and experiences led Creative Strategy firm Blirt to deploy a marketing automation platform that treats people like people.

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Introducing Urbanity 23—Australia’s premier conference for the property industry, brought to you by&nbsp;The Urban Developer. Returning for its fifth year, we are thrilled to unveil our largest initial release of speakers to date, featuring more than 25 of the most brilliant and influential minds in the industry, with many more to be added in the lead-up to the event. Join more than 700 property professionals over three days at The Star on the Gold Coast as we present unmissable presentations and interactive events to help you get ahead of the game. Early bird tickets are now available—secure your tickets now as these tickets are strictly limited.<div><a data-mce-href="https://cvent.me/kBxrnO?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial" href="https://cvent.me/kBxrnO?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial" target="_blank" rel="noopener">Save up to 30 per cent with early bird tickets—click here.</a> <hr>&nbsp; PROGRAM OVERVIEW: URBANITY 23<hr></div> <h2>DAY 1 | TUESDAY 29 AUGUST</h2> Site Tours Hop on the Urbanity bus for our guided project site tours to see the transformative developments shaping the Gold Coast. Registration for the site tours will open in July.Opening Night Boat Party As the day turns into night, get ready to set sail and celebrate at our Welcome Boat Party. Cruise scenic waters, mingle with fellow attendees, and embrace the lively atmosphere that will set&nbsp;the tone for an incredible event.<div id="4vEoQ8LiHrrzfcGPva2OWN"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1vRWFABtYzJLDiZFfZhJc7/be4fbff6d77b27c9da15b52b9fe881cf/3.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/1vRWFABtYzJLDiZFfZhJc7/be4fbff6d77b27c9da15b52b9fe881cf/3.jpg"></picture><div> </div></div><hr><h2> DAY 2 | WEDNESDAY 30 AUGUST</h2> Conference Day 1 Prepare for a full day of inspiration and knowledge as our esteemed speakers take the stage for captivating keynotes. Engage in thought-provoking panel discussions that delve deep into the most pressing issues and trends in the industry.Networking Drinks Take advantage of dedicated networking sessions designed to expand our attendees’ professional network.The Urban Developer Awards for Industry Excellence Gala In the evening, our main stage will transform to host our sixth annual Awards for Industry Excellence. Tickets will be released for purchase separately to finalists in July 2023.<div id="3hn6PajSBrH5ElPq0WPh54"><picture><img src="//images.ctfassets.net/8pr762qjocl3/R7zua85Q9sbD5lb8UdW71/f51681148edee1eb9942239dc3ff8c2b/2.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/R7zua85Q9sbD5lb8UdW71/f51681148edee1eb9942239dc3ff8c2b/2.jpg"></picture><div> </div></div><hr><h2> DAY 3 | THURSDAY 31 AUGUST</h2> Conference Day 2 The excitement continues as our lineup of influential speakers again deliver powerful and insightful presentations that will leave a lasting impact.Urbanity After PartyAs the jam-packed conference draws to a close, get ready to celebrate at our unforgettable Urbanity after party.<div id="3ileO8ckChICBKtjCJ244M"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6RUqXS5PK5fvhKHHZc234e/0f8ca3368f338d612cb38fcc5712afcb/4.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/6RUqXS5PK5fvhKHHZc234e/0f8ca3368f338d612cb38fcc5712afcb/4.jpg"></picture><div> </div></div><div><hr></div><h2> SPEAKER RELEASE 1</h2> We’re excited to announce our initial release of speakers, the largest such release we’ve made.<hr><a href="https://cvent.me/kBxrnO?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial" data-mce-href="https://cvent.me/kBxrnO?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial">View the full program</a><hr> Speakers include:Rethinking Real Estate: Navigating Technology’s Impact on the Future of Urban DevelopmentDror Poleg (New York City, US), award-winning author of Future of WorkJoin us for an insightful keynote presentation on day 3 based on Dror Poleg’s book, Rethinking Real Estate. Explore the profound influence of technology on the world's largest asset class and gain a roadmap to navigate the evolving landscape of urban development.The Evolution of the Nightingale ModelDan McKenna, chief executive officer, Nightingale HousingExplore the transformative journey of the Nightingale model in urban development, showcasing its influence on sustainability, affordability, and community-focused housing.Dan is a seasoned professional in the field of urban development with a wealth of experience and a strong passion for sustainable housing.As an integral member of Nightingale Housing since its inception, Dan has witnessed the company’s growth and overcome numerous challenges along the way.<div id="5kOKq1b2FDCfdiHKAMtVmj"><picture><img src="//images.ctfassets.net/8pr762qjocl3/52HrLEQDs9tRScynI8fAo6/9e56bec0106d9af869074e51f2d2b676/Mid_article_resizes__10_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/52HrLEQDs9tRScynI8fAo6/9e56bec0106d9af869074e51f2d2b676/Mid_article_resizes__10_.jpg"></picture><div>▲ First speakers include: Nerida Connisbee, Dror Poleg, Kate Meyrick and Dan McKenna. </div></div>Big Demographia: The Next Decade in Residential Real EstateNerida Conisbee, chief economist, Ray WhiteNerida Conisbee explores the demographic drivers shaping a bigger Australia and its likely impact on residential housing demand.Nerida, the chief economist at Ray White and a renowned property expert in Australia, is a distinguished speaker at Urbanity 23.With a wealth of experience after more than 20 years in property research throughout Asia Pacific, Nerida’s insights are highly sought after by major media, including digital, print, television, and radio.She is known for her market commentary and regular contributions to Ray White publications, including Ray White Now.Urban Equity: The Business Case for Fair and Equitable CitiesKate Meyrick, director, UrbisJoin Kate and she explores the business case for fairer cities. As a housing crisis and cost of living pressures run riot globally, Kate will present exclusive Urbanity research that benchmarks the competitiveness of global and APAC cities through the lens of urban equity.<a href="https://cvent.me/kBxrnO?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial" data-mce-href="https://cvent.me/kBxrnO?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial">View our initial speaker release</a>Other speakers include:Tim Price - Time &amp; Place, Co-Founder &amp; DirectorSarah Slattery - Slattery, Chief ExecutiveDaniel Kernaghan - JLL, Chief Executive, Australia and New ZealandShane Smollen- Central Element, DirectorCarolyn Viney - Super Housing Partnerships, Chief ExecutiveBen Martin-Henry- MSCI, head of Real Assets Research, PacificMonique Woodward - Wowowa Architecture, Co-FounderRichard Seddon - Mirvac, Chief Executive, InvestmentsMaria Lucrezia De Marco (Italy) - Stefano Boeri Architetti, ArchitectAndrew Deveson - Kapitol Group, Co-Founder &amp; DirectorAndrew Welsh - Wel.Co, Founder &amp; Managing DirectorTamika Smith - My Bella Casa, FounderRory Martin - Frasers Property, Vice President, Group SustainabilityTodd Pepper - Alceon Qld, Rino Recycling, Executive DirectorSarah Buckeridge - Hayball, Co-Managing PrincipalVivek Subramanian - SRL, Managing DirectorVictoria Reeves - Kennedy Nolan, Director of ArchitectureToby Lewis - Marquette Properties, Managing DirectorDr Michael Fotheringham - Australian Housing &amp; Urban Research Institute (Ahuri), Managing DirectorRafael Contreras - Contreras Earl Architecture (CEA), DirectorCaitlin Shields - Mitchell Brandtman, Partner &amp; 5D Quantity SurveyorChris Brown - QIC Real Estate, Cross River Rail Precincts DirectorGeorgina Harvey - Riverlee, Development ManagerTim Johnson - The Boundary, Chief Technology OfficerOwen Craven - UAP (Urban Art Projects), Managing Principal<a data-mce-href="https://cvent.me/kBxrnO?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial" href="https://cvent.me/kBxrnO?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial" target="_blank" rel="noopener">&nbsp; Click here and save up to 30 per cent with early bird tickets.</a>

Join us on the Gold Coast for unmissable presentations and interactive events to help you get ahead of the game—early-bird tickets available now…

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With some big investment guns pointing towards Australia’s burgeoning build-to-rent sector, Brisbane-based operator Arklife has made a strategic move as it plots a national expansion.It is putting its $800-million portfolio of projects on the block in a bid to partner with an institutional investor and secure seed capital for its next growth phase.To sweeten the deal, it is also offering a stake of up to 50 per cent in its operating platform.“We’re looking to roll out our model geographically around the country,” Arklife chairman Richard Carmont said. “And so we’re looking for a capital partner to achieve those ambitions.”The move to scale the platform comes as major local and international investors increasingly position themselves in the sector, the growth of which is being accelerated by a housing supply shortage and record low rental vacancies.<a data-mce-href="https://www.theurbandeveloper.com/articles/arklife-build-to-rent-brisbane-success-future" href="https://www.theurbandeveloper.com/articles/arklife-build-to-rent-brisbane-success-future" target="_blank">Arklife was founded in 2018</a> by former Macquarie Bank and Grocon executive Scott Ponton with the backing of ADCO, one of Australia’s largest builder-developers, and other investors.At the vanguard of the build-to-rent sector in Australia, it was among only a handful of early movers.“That’s the point of difference with Arklife,” Carmont said. “We’re one of the pioneers in the industry in the sense that we’re one of the few groups to have developed and opened a purpose-built build-to-rent asset in Australia, which we have been successfully operating for the best part of 18 months now.”According to a recently published report by Ernst &amp; Young, there were 11 operating build-to-rent projects across the country as of February this year, nine of which were funded from foreign capital.“Many groups are expressing interest in entering the sector, now that operating assets have been able to demonstrate operational capacity,” the report said. “There is now proof of concept in many states of Australia and at a range of scale and service offering.”The emerging sector is currently estimated to be worth $16.87 billion but the report noted that was still only 0.2 per cent of the total value of Australia’s residential housing stocks.With an additional 72 projects within the build-to-rent pipeline across Victoria, NSW, Queensland and WA, each with an average of 320 apartments, the research indicated “this value will continue to grow in the coming years”.New tax laws—halving the federal government’s managed investment trust withholding tax for build-to-rent from 30 per cent to 15 per cent—in a bid to boost housing supply also are expected to bolster further growth in the sector.<div id="318xzbrs8kU9mAJNarfuRf"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3ZRgKo48TIvMYopx5wwI5Z/2874e2dad6ae7ff7855c24d49e06a5cd/Untitled_design_-_2023-05-13T141848.149.jpg" alt="Arklife's 31-storey, 327 apartment build-to-rent tower scheme planned for 50 Constance Street in Brisbane’s Fortitude Valley." data-mce-src="//images.ctfassets.net/8pr762qjocl3/3ZRgKo48TIvMYopx5wwI5Z/2874e2dad6ae7ff7855c24d49e06a5cd/Untitled_design_-_2023-05-13T141848.149.jpg"></picture><div>▲ Arklife’s 31-storey, 327-apartment build-to-rent tower planned for 50 Constance Street in Brisbane’s Fortitude Valley. </div></div>“It's a very good thing for the industry,” Carmont said. “I think it’s something that has been holding some groups back and hopefully [the changes] will stimulate more demand from overseas investors and bring more capital into the market.”He said despite strong demand from the rental market, the challenge ahead for the sector was in delivery due to soaring cost escalation and labour shortages in the embattled construction industry.“The industry still has challenges in getting projects up … [but] we’re fairly unique in that Arklife is majority owned by ADCO, one of the largest construction companies in Australia, so we have a bit of an advantage on that delivery side of our assets.”Indicative of the traction build-to-rent is gaining in the rental market, Arklife Robertson Lane in the James Street precinct of inner-city Brisbane’s Fortitude Valley achieved 100 per cent occupancy of its 89 apartments within six months of opening in October 2021.Upon completion of its two other projects—the under-construction Arklife Cordelia in South Brisbane and yet-to-be approved Arklife Constance in Fortitude Valley—the platform will total 681 units and, once stabilised, will have an estimated value of $800 million.CBRE has been engaged by Arklife to help Arklife secure an institutional investor to acquire its three build-to-rent projects and take a strategic stake in the operating platform to support the scaling of its model nationally.The core markets of Sydney and Melbourne are in its immediate focus as well as additional projects in Brisbane.Carmont said investors had already been circling since word of the offering got out to the market a few weeks ago.“The platform provides the incoming group an immediate operating capability and real estate footprint,” he said. “Certainly, there’s people looking at it but there’s no advanced negotiations or anything like that. We’re still in the front end of the process.”

The build-to-rent big gun is courting a strategic investor as it looks to expand nationally to meet the needs of the housing crisis…

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