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<p>Sydney developer Top Spring is pulling the trigger on its 1.26ha five-tower masterplanned community at St Leonards on the back of strong appetite for the apartments.</p><p>After a launch at the end of 2022 the developer has banked more than $65 million in sales for the <a data-mce-href="https://www.theurbandeveloper.com/articles/sydney-developers-five-building-residential-precinct-plan" href="https://www.theurbandeveloper.com/articles/sydney-developers-five-building-residential-precinct-plan" target="_blank" rel="noopener">placemaking project, The Newlands</a>.&nbsp;</p><p>Top Spring development director Jeff Curnow said they had received development application approval in March 2022 for the five superlot site at 21-41 Canberra Avenue and 18-32 Holdsworth Avenue.&nbsp;</p><p>“Last year was actually quite slow for sales, but this year we’re turning over pretty frequent sales of four or five a week at the moment,” Curnow said.</p><p>“We’ve still got a bit to go, it’s a 330-apartment project and we’ve sold about 20 per cent. But it’s looking good at this stage.”</p><div id="4TFArFud3W2E5IX9JoqPBx"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4sQMpc6yG6FQSDjEtUTHeP/f0bc55f5fb07f522405b4da3888a22ea/The_Newlands_MID.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4sQMpc6yG6FQSDjEtUTHeP/f0bc55f5fb07f522405b4da3888a22ea/The_Newlands_MID.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Parkland fronts three sides of The Newlands development, providing a green spine for the significant residential project. </span></div></div><p><br>Curnow said they would be launching the next stage to the market in early April.</p><p>“Our focus at the moment is getting that <a data-mce-href="https://www.theurbandeveloper.com/articles/top-spring-double-bay-sydney-luxury-apartments-ode" href="https://www.theurbandeveloper.com/articles/top-spring-double-bay-sydney-luxury-apartments-ode" target="_blank" rel="noopener">high-end brand recognition</a> with our smaller boutique projects at Elizabeth Bay and Double Bay,” Curnow said.</p><p>“The big projects [such as The Newlands] have got a long gestation period, it’s a lot of work and there’s a lot of risk sitting in there.”</p><p>Curnow said the St Leonards and Crows Nest area would attract “strong demand as it evolved around a green spine and public transport infrastructure”.</p><p>“It makes sense with the Metro there, it’s where the density should be going. It’s going to be completely unrecognisable in five to 10 years,” he said.</p><p>The Newlands is due for completion in late 2026. Early works and demolition have started on the site and construction is due to commence later this year following the appointment of DASCO as the construction partner.&nbsp;</p><p>“Like all Top Spring Australia projects, it was important to partner with a like-minded contractor that aligns with our standards and vision for this iconic site,” Curnow said.</p><p>“DASCO is one of few builders in the state to achieve a coveted 4.5-star iCIRT rating, recognising their success in innovation, reliability, and construction excellence.”</p><p>DASCO co-owner Daniel Nicolas said it was an exciting opportunity to help deliver the masterplanned community.&nbsp;</p>

Sydney developer Top Spring is pulling the trigger on its 1.26ha five-tower masterplanned community at St Leonards following strong appetite for the apartments...

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<p>Developer Pellicano Group is casting its property rental net wider to capitalise on Australia’s booming penchant for short-term accommodation.</p><p>With demand for rental apartments surging and a strong rebound in post-pandemic holiday and business travel, it is checking into the short-stay apartment market.</p><p>Under its new brand Rambla, operating as an extension of its Pellicano Living build-to-rent platform, it plans to provide serviced apartments with hotel-style amenities.</p><p>The first project to launch under the brand will be at completion of Pellicano’s 77-residence Perry House build-to-rent project at Bowen Hills in Brisbane’s inner-north later this month.</p><p>Pellicano managing director Nando Pellicano said the group had identified a growing consumer appetite for a shorter-stay product with greater flexibility and convenience.</p><p>He said Rambla residences would be targeted primarily at young professionals, corporate travellers and remote workers but also people moving home and other travellers in Australia’s major cities.</p><div id="3dvEhm2ymaMmtlctNXNT1x"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1FRcwtSZPrHFkJ4GnxfShi/87524d8d4febf12ed29e26c18413a04b/Untitled_design__28_.jpg" alt="Guests will have access to hotel-style amenities such communal rooftop lounges, entertainment areas, pools, gyms, co-working and breakout spaces and other shared amenities." data-mce-src="//images.ctfassets.net/8pr762qjocl3/1FRcwtSZPrHFkJ4GnxfShi/87524d8d4febf12ed29e26c18413a04b/Untitled_design__28_.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Guests will have access to hotel-style amenities such communal rooftop lounges, entertainment areas, pools, gyms, co-working and breakout spaces and other shared amenities.<br><br></span></div></div><p>“ One of the big advantages of launching a product like this through Pellicano Living is that we know the demand is there, we know the areas in which these projects sit, and we know our target audience very well,” Pellicano said.</p><p>“We are confident that Rambla will cater to a range of traveller types, and we feel these types of customers may average a one-month stay with us.”</p><p>Under the Pellicano Living model, Rambla guests will have access to communal rooftop lounges, entertainment areas, pools, gyms, co-working and breakout spaces and other shared amenities.</p><p>They will also be able to participate in any regular events Pellicano Living runs for its residents.</p><p>“We want the Rambla customer to feel like they’re living in a home away from home with a connection to the local community, still with a high level of comfort and style but in a more laid-back and accessible way,” Pellicano said.</p><p>With the aim of attracting professionals who spend some of their stay working from the apartments, Rambla will also have a strong focus on technology, including contactless, digital check-in systems for flexible arrival and departure.</p><p>Perry House is among a handful of build-to-rent projects Pellicano has under construction, including Hillyard House—the latest stage of its $700-million South/City/SQ precinct at Brisbane’s Woolloongabba, in partnership with Perri Projects—and the 70-residence Solarino House in Brunswick, the 63-residence Pivot House in Geelong and the 110-residence Berwick House in Fortitude Valley.</p>

The developer is casting its net wider in the property rental market to capitalise on Australia’s booming demand for short-term accommodation…

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<p>A former Master Builders Apprentice of the Year is the peak body’s new national president.</p><p>Board member Craig Edmunds will assume the role after a unanimous board vote.</p><p>Edmunds has been a board member since 2015 and is the former Tasmanian president of Master Builders.</p><p>He follows outgoing president Simon Butt, who led the organisation for three years.</p><p>Skills and labour pathways will be a particular passion and focus for Edmunds, a spokesperson told <em>The Urban Developer</em>. The incoming president began his career as a Master Builders Apprentice of the Year before ascending the corporate ranks.</p><p>Edmunds, former chief executive and current chair of Tasmanian construction company Fairbrother, has also flagged his intention to continue Butt’s advocacy during a difficult period for the sector, including in the sphere of industrial relations.</p><div id="5fBiAEohBYygx18GWR0ZDr"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6rQFqlbhBvn2b73LhNpxut/dd0e29e49b7f92c61235844c4a4ad8af/Mid_article_resizes__20_.jpg" alt="The MBA’s new president, Craig Edmunds." data-mce-src="//images.ctfassets.net/8pr762qjocl3/6rQFqlbhBvn2b73LhNpxut/dd0e29e49b7f92c61235844c4a4ad8af/Mid_article_resizes__20_.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ The MBA’s new president, Craig Edmunds.<br><br></span></div></div><p>Master Builders Australia said it remained engaged with the federal government, seeking to reform the proposed Fair Work Legislation Amendment (Secure Jobs, Better Pay) Bill 2022.&nbsp;</p><p>In its current form, the Bill proposes to introduce multi-employer bargaining and abolish the ABCC.</p><p>“Simon has successfully led Master Builders into a new era of advocacy and positioned the organisation as the pre-eminent national advocate for the building and construction industry,” Edmunds said in a statement.</p><p>“The industry is facing many challenges as we emerge from the pandemic and head into more precarious economic headwinds.</p><p>“Master Builders will continue to work constructively with Government to tackle some of the challenges around regulatory backlogs, supply chain disruptions, and the skills pipeline to ensure the industry remains profitable and sustainable while meeting housing and infrastructure demands.”</p>

Incoming president Craig Edmunds says skills and labour pathways will be a focus for him…

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<p>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.</p><p>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.</p><p>“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 <em>The Urban Developer</em>.</p><p>He also noted that current issues in the property market made things uncertain.</p><p>“It’s no secret Australia’s property industry is currently facing challenges,” Khoo said.</p><p>“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.”</p><p>Interest, in the short term, in other international acquisitions was not on the cards, he said.</p><p>“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 said</p><p>The 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.</p><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><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ The Federal Street tower would dramatically alter the Auckland skyline.<br><br></span></div></div><p>It was granted under the Covid-19 Recovery (Fast Track) Consenting Act 2020 which was designed to speed up the planning approval process.</p><p>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.</p><p>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.</p><p>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.</p><p>The Federal Street project has an estimated end value of $664 million.</p><p>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.</p><p>&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;</p><p>“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.”</p><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><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ A render of the street-level marketplace area with cafes, restaurants and event spaces planned for the tower.<br><br></span></div></div><p>Bayleys will manage the marketing and sale of the property through an international expressions-of-interest campaign.</p><p>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.</p><div id="5IgRUe2fBGKJbpa2ifYjSA"></div><p>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.</p><p>The design went through extensive consultation with the Auckland Council and mana whenua.</p><p>Khoo said the developer’s knowledge of the project was also on the table for the future owner to use.</p><p>“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.</p><p>“We would be pleased to assist the next owner in whatever way we can, should they wish to proceed with this project.”</p><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><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ A render of the Federal Street skyscraper at street level.<br><br></span></div></div><p>Baileys capital markets associate director Cameron Melhuish said other uses for the site were also possible.</p><p>“The significant medium-term holding income provides additional flexibility to investigate other ways of adding further value to the property,” Melhuish said.</p><p>“This could include considering incorporating other uses permitted under the city centre zoning such as office or hotel accommodation.”</p><p>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.</p><p>The expression of interest campaign will end on December 8.&nbsp;<br><br></p><hr><p><strong><br>You are currently experiencing <em>The Urban Developer</em> Plus (TUD+), our premium membership for property professionals. </strong><a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans"><strong>Click here to learn more.</strong></a></p><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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<p>Fewer homes went to auction in Australia’s capital cities and clearance rates softened further as values fell, interest rates rose and buyers’ enthusiasm waned during the September quarter.</p><p>CoreLogic’s Quarterly Auction Market Review shows 23,087 properties across the capitals went under the hammer in the September quarter, the lowest figure since the March quarter in 2021.</p><p>Numbers were down compared to the three months to June when 31,439 auctions were held, which followed the busiest March quarter on record when 23,748 homes went under the hammer.</p><p>CoreLogic research director Tim Lawless said lower auction volumes were indicative of weaker consumer sentiment and fewer overall listings in the market nationally.</p><p>“Lower auction volumes are another indicator of the rapid change in market conditions as sellers also adjust to increasing interest rates and fewer buyers,” Lawless said.</p><p>“We’re also seeing similar trends across new supply of ‘for sale’ stock in general.</p><p>“Seasonally, spring is usually the peak time for sellers to list their property, but this hasn’t materialised, with the majority of cities and rural areas yet to see the normal seasonal upswing in freshly listed properties hitting the market.”</p><p>Auction clearance rates were also weaker with 56.4 per cent of reported auctions successfully sold under the hammer in the three months to September 2022, the lowest quarterly clearance rate since June 2020 (47.9 per cent) when the initial phase of Covid-related lockdowns were implemented.</p><p>The results were down 15.2 percentage points from the same period last year (71.7 per cent) and on the June quarter, when 60.8 per cent of reported auctions were successful.</p><p>“Clearances rates have been falling each quarter just as the rate of growth in property values has slowed,” Lawless said.</p><p>“The combined capital city clearance rate hit a record peak of 80.0 per cent in March 2021 and has gradually declined since.</p><p>“However, the monthly trend in clearance rates has shown a consistent rise in auction clearance rates, with the weighted average capital city clearance rate firming around 60 per cent each week in September.</p><p>“It will be interesting to see whether clearance rates continue to hold as we move through what is traditionally the busiest quarter of the year.”</p><div id="2N88zB9CpkV5OIzioYVgQl"><picture><img src="//images.ctfassets.net/8pr762qjocl3/49sGG4xA7HNGIyn3MC7f0P/45a6c87a524950e0d33d21292ffb3770/iStock-1414707221.jpg" alt="Adelaide recorded the highest clearance rates for the September quarter." data-mce-src="//images.ctfassets.net/8pr762qjocl3/49sGG4xA7HNGIyn3MC7f0P/45a6c87a524950e0d33d21292ffb3770/iStock-1414707221.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Adelaide recorded the highest clearance rates for the September quarter.<br><br></span></div></div><p>Of the capital cities, Adelaide recorded the highest clearance rate this quarter with 67.7 per cent, followed by Tasmania (58.8 per cent), Melbourne (58.5 per cent) and Canberra (57.5 per cent).</p><p>Sydney recorded a clearance rate of 55.0 per cent over the quarter, while Brisbane (43.9 per cen) and Perth 38.8 per cent both came in under 50.0 per cent.</p><p>In terms of auction activity, Melbourne was the busiest auction market, with 9107 homes going under the hammer, followed by Sydney (8776) and Brisbane (1970).</p><p>There were 1810 auctions in Adelaide, 1228 in Canberra, 179 in Perth and 17 auctions held in Tasmania over the September quarter.</p><p>“After the volume of auctions was consistently higher than a year ago through the first four months of the year, every capital city has seen a marked fall in auction activity in the September quarter,” Lawless said.</p><p>“With auction clearance rates generally tracking at below average levels, it’s likely more vendors are opting to sell via private treaty rather than auction as fewer competitive bidders could make the auction process less effective at achieving the best possible price.”</p>

Fewer homes went to auction in Australia’s capital cities and clearance rates across the September quarter…

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<p>The team behind a boutique office development in Sydney’s tightly held southern fringe is considering a “build it and they will come” philosophy, rather than wait for pre-commitments from prospective tenants.</p><p>The development application-approved, premium-grade building in Flinders Street, Surry Hills is looking for tenants, but brokers behind the project say the heat in the market is such that they will consider breaking ground without lease commitments.</p><p>“Every tenant we get inquiries from wants to be in Surry Hills,” Justin Rosenberg of Colliers, who with CBRE has been charged with marketing and leasing the building, said.</p><p>“It’s got very, very low supply at the moment and demand is high and new developments are leasing really well.</p><p>“If I’m playing it safe we will wait until we find someone but we’re having those conversations about speculative building,” Rosenberg told <em>The Urban Developer</em>.&nbsp; “Because if we look at the recent projects that have been spec-built, they have seen success.</p><p>“Our advice based on the market is you build it, and they will come.”</p><p>Created by Surry Hills diversified property and investment group Stasia, the 3000-sq-m building will sit on prime street frontage on the corner of South Dowling and Flinders streets between Surry Hills, Paddington and Darlinghurst.</p><div id="6FRKHK568YpQh0AIC3Jnty"><div id="6FRKHK568YpQh0AIC3Jnty"><picture><img src="//images.ctfassets.net/8pr762qjocl3/7A5h5H3dJSi6zvkoxj0Qsw/d559df3b2a66ccd60f0cef2329f29ace/Surry_Hills_Mid.jpg" alt="An artist's impression of the boutique office's rooftop terrace and bar" data-mce-src="//images.ctfassets.net/8pr762qjocl3/7A5h5H3dJSi6zvkoxj0Qsw/d559df3b2a66ccd60f0cef2329f29ace/Surry_Hills_Mid.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Sydney’s southern fringe also boasted the highest rents for both A-grade and B-grade listings.<br><br></span></div></div><p>The building, with an end-value of up to $55 million, was designed by SJB Architects and will include flexible floorplates across six levels, with the potential to accommodate a single user or multiple tenancies. There will be a rooftop bar, as well as barbecue, yoga and end-of-trip facilities.<br></p></div><p>Agents have described Surry Hills and the surrounding area as one of Australia’s strongest performing office regions, counting tenants such as Blackmores, News Corp, Sony and global technology companies Site Minder and Safety Culture.</p><p>Australian graphic design platform Canva has offices at 110 Kippax Street but earlier this month is thought to have paid around $120 million for an unrenovated vacant office up the road from its headquarters, at 8-24 Kippax Street, Surry Hills.</p><p>The area has become something of a magnet for tech start-ups, media, health and financial companies.</p><p>Last month, data released by Colliers showed media and communications companies make up about 28 per cent of tenants in all the fringe precincts of Sydney. Information and technology accounted for about 16.3 per cent, and government 12.3 per cent.</p><p>However in the southern fringe—which Colliers counts as Surry Hills, Redfern and Chippendale—government made up 25 per cent, information and technology nearly 23 per cent and retail and wholesale about 12.5 per cent.</p><p>The southern fringe also boasted the highest rents for both A-grade and B-grade listings.</p><p>Colliers’ Rosenberg said they were in talks with a number of interested parties including a wellness group, high-end tech companies and some boutique finance companies.</p><p>“But there will be more mature companies, versus start-ups, who have been around a while and who want that flight to a quality, high-end product and will be happy to pay a slightly higher premium,” he said.</p>

The team behind a boutique office development in Sydney’s tightly-held southern fringe is considering a “build it and they will come” philosophy, rather than wait for pre-commitments from prospective tenants.

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<p>A Victorian-based boutique developer is moving ahead with its $65-million residential project in a blue-ribbon Melbourne suburb.</p><p>Carpe’s The Walton received planning permission in July and is slated to begin construction of the three-storey project in June next year.</p><p>The developer acquired the 2570sq m site at 86-88 Walpole and 32 Eglinton Streets in the inner-eastern suburb of Kew in October last year. The site has 103m of street frontage.</p><p>The Warren-and-Mahoney designed block comprises 27 apartments in a mix of two and three bedrooms.</p><p>Carpe director Stuart Kacir said the vision for the project, which has been launched to market, had been to create an address that “celebrates Kew for both what it was and what it is today”.</p><p>“The property’s aspect is pretty amazing and we’ve worked with Warren and Mahoney to capitalise on the site’s positioning on the side of a small rise, perched above the horizon.”</p><p>He said the site had views to the Dandenong Ranges to the east while some apartments would look over the Yarra River bend.</p><p>Fellow director Tim Campbell, who co-founded Carpe with Kacir in 2016, said the oversized apartments would feature large master bedrooms, oversized robes, wide hallways and European oak flooring.</p><div id="7qbZq0icmOsODBNYJQ3KEG"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6pFQrWyPZ89MTF2q46zYab/944232b8e911c9878446ac4cb81dbb54/2.jpg" alt="Renders of The Walton, a luxury residential project by Melbourne developer Carpe, to be built in Kew." data-mce-src="//images.ctfassets.net/8pr762qjocl3/6pFQrWyPZ89MTF2q46zYab/944232b8e911c9878446ac4cb81dbb54/2.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Renders of The Walton, a luxury residential project by Melbourne developer Carpe, to be built in Kew.<br><br></span></div></div><p>The apartments’ “generous terraces and expansive gardens” as well as street entrances for ground floor apartments also spoke to the project’s high-end nature, he said.</p><p>Gardens for the ground floor and boxed greenery will be curated by landscape gardener, author and former Gardening Australia presenter John Patrick.</p><p>Carpe has specialised in higher-end residential developments in affluent Melbourne suburbs, including its Eaglemont Residences, comprising 13 apartments in three and four bedrooms in Eaglemont, 10km north-east of the city, that is due for completion late next year.</p><p>Also under way is its Grandview Brighton, with 10 three-bedroom apartments, due to finish early next year in the south-east’s Brighton, where the developer has already completed Brighton Est and The Brighton Collection.</p><div id="6eTVyMwC678PNbq7WaBqVu"><picture><img src="//images.ctfassets.net/8pr762qjocl3/MsABvdTRXm3i2HMAwVtZK/4a278fc822f6263e660adfa6ce3bb3b1/1.jpg" alt="Construction on the project is planned to begin later next year." data-mce-src="//images.ctfassets.net/8pr762qjocl3/MsABvdTRXm3i2HMAwVtZK/4a278fc822f6263e660adfa6ce3bb3b1/1.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Construction on the project is planned to begin later next year.<br><br></span></div></div><p>One of the Victorian capital’s upmarket locales, Kew is a magnet for high-end development with a number of projects under way and completed in recent times, including <a href="https://www.theurbandeveloper.com/articles/projects-elevating-boutique-apartment-living-australia" data-mce-href="https://www.theurbandeveloper.com/articles/projects-elevating-boutique-apartment-living-australia">The Grounds of Kew</a> by Beulah, 21 large-scale apartments across three levels. Also in the suburb is <em>The Urban Developer</em> Awards of Excellence shortlisted Oakwood, Kew by the Walker Corporation.</p>

A boutique developer is progressing its now-approved project for one of Melbourne’s most affluent suburbs…

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<p>Approval has been secured by Japanese-backed developer Sekisui House for the second stage of its $2-billion riverfront masterplanned project in Sydney’s inner-west.</p><p>The nod from the City of Parramatta Council paves the way for two waterside buildings—Laguna and Glade—comprising 171 apartments to be added to its multi-stage development known as Sanctuary.</p><p>The first stage of the development at 14-16 Hill Road at Wentworth Point, on the Parramatta River just north of Homebush Olympic precinct, was completed in November 2020.</p><p>Known as Landing, it included 364 apartments, 16 terraced homes and 12 two-storey maisonettes.</p><p>Sanctuary’s Turner-designed masterplan spans 9.4ha. It is being developed across six stages into a mixed-use precinct with about 2000 apartments as well as retail and other community amenities.</p><p>As part of its latest stage, Laguna with 101 apartments will stand 13 storeys and Glade with 70 apartments will reach eight storeys. Both buildings have been designed by PBD Architects.</p><p>“Stage 2 has been designed to act as the heart of the Sanctuary community with the journey through Laguna and Glade effectively connecting all stages,” Sekisui House Australia senior development manager Zac Petrovic said.</p><div id="KYbe7Yqa5nAPscHVseDiP"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6i8TqHyxuuNiS2Y0VT5AGu/e8750b260118f3a6e2edac4770c24e9e/Untitled_design_-_2022-10-10T153701.989.jpg" alt="The neighbourhood green will be an important amenity providing connectivity via a landscaped waterfront park." data-mce-src="//images.ctfassets.net/8pr762qjocl3/6i8TqHyxuuNiS2Y0VT5AGu/e8750b260118f3a6e2edac4770c24e9e/Untitled_design_-_2022-10-10T153701.989.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ The neighbourhood green will be an important amenity providing connectivity via a landscaped waterfront park.<br><br></span></div></div><p>“A comprehensive placemaking strategy has also been created to provide residents with desirable recreational amenities and a cohesive, well considered walkable community.”</p><p>Connecting the buildings will be a 3150 sq m “neighbourhood green” public open space featuring a covered communal dining area and waterplay.</p><p>Sustainability initiatives include dual water supply network, rainwater management and bio-swales, the planting of one tree per apartment, double glazed windows, water saving fittings, bike rooms, EV charging and car sharing.</p><p>A recreational facility with a swimming pool, spa, saunce and gym also will be completed as part of the second stage.</p><p>“Sekisui House is committed to building sustainable communities, focused on the company’s key principles of environmental, economic and social sustainability,” Petrovic said.</p><p>Nearby, Sydney developer Piety Group has lodged plans for the final stage of its multi-building <a data-mce-href="https://www.theurbandeveloper.com/articles/plans-filed-for-final-stage-of-wentworth-point-project" href="https://www.theurbandeveloper.com/articles/plans-filed-for-final-stage-of-wentworth-point-project" target="_blank" rel="noopener">One The Waterfront</a> residential project.</p><p>Two stepped towers rising to 15 storeys with 155 apartments are proposed for the last phase of its $520-million redevelopment of a 2.5ha site.</p><p>If approved, the plans would bring the project’s overall apartment count to 620 across nine buildings.</p><p>Wentworth Point is currently the middle of a major transformation as it shrugs off its industrial past to become a fast-growing residential suburb.</p>

Approval has been secured by Japanese-backed developer Sekisui House for the second stage of its $2-billion riverfront masterplanned project in Sydney’s inner-west.

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<p>As Australia’s rental market continues to tighten to record levels, the pace of rental growth has started to ease, suggesting affordability constraints are having an impact.</p><p>Corelogic’s Quarterly Rental Review for the September quarter shows the national rental index had its smallest monthly increase this year, up 0.6 per cent in the month to September and 2.3 per cent over the September quarter, a 60 basis point decrease on the three months to June (2.9 per cent).</p><p>The quarterly trend in national rental values is now 70 basis points below the recent peak rate recorded in May (3.0 per cent).</p><p>CoreLogic research analyst and report author Kaytlin Ezzy said despite the slowdown in the monthly and quarterly rate of growth, the annual growth trend in national rents held steady at a record high of 10 per cent in August and September.</p><p>“The past few years has seen unprecedented growth in rental values,” she said.</p><p>“We saw rents fall marginally over the first few months of Covid, but, since August 2020, national dwelling rents have surged almost 20 per cent, equivalent to a weekly rent rise of approximately $90 per week.</p><p>“Initially driven by a reduction in the average household size, the continued upswing in values is likely now predominantly being driven by the strong return of overseas migration, coupled with extremely tight rental supply.”</p><p>Ezzy said the easing in rental growth was a little surprising, particularly given such low vacancy rates.</p><p>“The slowdown in the rate of rental growth may suggest an increasing number of prospective tenants are starting to come up against affordability constraints,” she said.</p><p>“As high non-discretionary inflation, along with increasing rents put additional stress on a renter’s balance sheet, it is likely a growing number of tenants look to reform larger households or find more affordable rental options in an attempt to reduce costs.”</p><p>Supply continues to be an important factor impacting rental markets with the total supply of advertised rental stock 35.4 per cent below the previous five-year average.</p><p>National dwelling vacancy rates tightened from 1.3 per cent in June to 1.1 per cent in September, the lowest national vacancy rate on record.</p><p>“One factor which has likely negatively impacted rental supply is the decline in investor purchasing activity between early 2017 and early 2020,” Ezzy said.</p><p>“Through this period, a mix of temporary changes to mortgage lending conditions and the uncertainty surrounding the onset of Covid limited residential property purchases.”</p><p>Rental growth across the combined capitals continues to outpace rent rises across the combined regionals.</p><p>Ezzy said this trend was largely owing to the return of overseas migrants, who typically choose to rent in high-density markets of Sydney and Melbourne upon arrival.</p><p>Rental growth in the combined capitals was up 2.7 per cent and 1.3 per cent across the regions over the three months to September.</p><p><strong>Change in rents: September quarter, 2022</strong></p><table style="width: 100%; font-family: Panton-Bold, Helvetica, Arial, sans-serif; font-size: 14px; color: rgba(0, 0, 0, 0.87); border: unset;" border="1" data-mce-style="width: 100%; font-family: Panton-Bold, Helvetica, Arial, sans-serif; font-size: 14px; color: rgba(0, 0, 0, 0.87); border: unset;"><tbody><tr><td style="width: 24.0876%;" data-mce-style="width: 24.0876%;">Region</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">Median rent</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">Month %</td><td style="width: 14.9635%;" data-mce-style="width: 14.9635%;">Quarter %</td><td style="width: 12.0438%;" data-mce-style="width: 12.0438%;">12 months %</td></tr><tr><td style="width: 24.0876%;" data-mce-style="width: 24.0876%;">Sydney</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">$655</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">0.7</td><td style="width: 14.9635%;" data-mce-style="width: 14.9635%;">2.9</td><td style="width: 12.0438%;" data-mce-style="width: 12.0438%;">10.3</td></tr><tr><td style="width: 24.0876%;" data-mce-style="width: 24.0876%;">Melbourne</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">$495</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">0.7</td><td style="width: 14.9635%;" data-mce-style="width: 14.9635%;">2.3</td><td style="width: 12.0438%;" data-mce-style="width: 12.0438%;">8.6</td></tr><tr><td style="width: 24.0876%;" data-mce-style="width: 24.0876%;">Brisbane</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">$573</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">1.0</td><td style="width: 14.9635%;" data-mce-style="width: 14.9635%;">3.8</td><td style="width: 12.0438%;" data-mce-style="width: 12.0438%;">13.5</td></tr><tr><td style="width: 24.0876%;" data-mce-style="width: 24.0876%;">Adelaide</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">$508</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">10</td><td style="width: 14.9635%;" data-mce-style="width: 14.9635%;">3.6</td><td style="width: 12.0438%;" data-mce-style="width: 12.0438%;">12.8</td></tr><tr><td style="width: 24.0876%;" data-mce-style="width: 24.0876%;">Perth</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">$533</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">0.9</td><td style="width: 14.9635%;" data-mce-style="width: 14.9635%;">2.5</td><td style="width: 12.0438%;" data-mce-style="width: 12.0438%;">9.1</td></tr><tr><td style="width: 24.0876%;" data-mce-style="width: 24.0876%;">Hobart</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">$551</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">0.5</td><td style="width: 14.9635%;" data-mce-style="width: 14.9635%;">0.4</td><td style="width: 12.0438%;" data-mce-style="width: 12.0438%;">7.3</td></tr><tr><td style="width: 24.0876%;" data-mce-style="width: 24.0876%;">Darwin</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">$590</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">0.7</td><td style="width: 14.9635%;" data-mce-style="width: 14.9635%;">3.6</td><td style="width: 12.0438%;" data-mce-style="width: 12.0438%;">5.4</td></tr><tr><td style="width: 24.0876%;" data-mce-style="width: 24.0876%;">Canberra</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">$682</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">-0.1</td><td style="width: 14.9635%;" data-mce-style="width: 14.9635%;">-0.4</td><td style="width: 12.0438%;" data-mce-style="width: 12.0438%;">7.2</td></tr><tr><td style="width: 24.0876%;" data-mce-style="width: 24.0876%;">National</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">$544</td><td style="width: 24.4526%;" data-mce-style="width: 24.4526%;">0.6</td><td style="width: 14.9635%;" data-mce-style="width: 14.9635%;">2.3</td><td style="width: 12.0438%;" data-mce-style="width: 12.0438%;">10.0</td></tr></tbody></table><p><sup>Source: Corelogic</sup></p><p><br>Brisbane recorded the strongest quarterly rise in dwelling rents (3.8 per cent) of any capital city, despite the pace of growth easing from the recent peak rate of growth (4.2 per cent) recorded over the three months to August.</p><p>Adelaide and Darwin recorded an increase in rental values of 3.6 per cent over the quarter, while Sydney, Perth and Melbourne, experienced home rents rise 2.9 per cent, 2.5 per cent and 2.3 per cent respectively.</p><p>Canberra was the exception, with dwelling rents declining 0.4 per cent over the three months to September due to a 0.9 per cent fall in house rents. Rental values across Hobart rose 0.4 per cent, an increase on the 0.1 per cent rise recorded over the three months to August.</p><p>Despite recent declines, Canberra maintained its position as Australia’s most expensive capital city rental market (just), with a median weekly rental value of $682, followed by Sydney ($665 a week), Darwin ($590 a week) and Brisbane ($573 a week).</p><p>Melbourne retained its position as the most affordable capital to rent in ($495 a week), followed by Adelaide ($508 a week), Perth ($533 a week) and Hobart ($551 a week).</p><p>“With Sydney recording strong rental growth at a time when rents are declining across Canberra, the gap between Australia’s two most expensive rental markets has narrowed to just $17 per week,” Ezzy said.</p><p>“Given international migration is expected to continue to support rental demand across Sydney while affordability is expected to hamper Canberra’s rental growth, it’s likely we’ll see Sydney overtake Canberra as Australia’s most expensive capital city rental market in the coming months.”</p><p>Gross rental yields continue to expand, with rental values rising as housing values depreciate. National dwelling values fell 4.1 per cent while national dwelling rental values rose 2.3 per cent over the September quarter, resulting in a rise in dwelling yields of 24 basis points to 3.57 per cent.</p>

Australia’s rental market continued to tighten to record levels but the pace has started to ease, says Corelogic…

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<p>Brothers Michael and Cal Malouf put James Street on the map with the James Street Markets in 2002 and later the much-lauded Calile Hotel. And now they are taking the brand north.</p><p>They are about to lodge plans for Calile Hotel Noosa, a 178-key hotel and 15 three-bedroom villas on a 2.4ha site at the well-heeled Noosa Heads.&nbsp;</p><p>They are teaming up again with Richards and Spence who created the iconic James Street Calile Hotel, and arguably cemented south-east Queensland’s love of the arch and biophilic design.</p><p>“We will definitely be incorporating the Calile brand into the identity for the new hotel,” Michael Malouf said.</p><p>“Paramount to the Noosa project is the integration of lush planting and we’re excited to be working for the first time with Marc Conlon (Conlon Group) as landscape architect for the project.</p><p>“Marc and his team will collaborate with Richards &amp; Spence to balance the interplay between architecture and landscaping, ensuring the resort complements the natural beauty of the Noosa surrounds.”</p><div id="6igDAPvCccnp5WvuoEsBl0"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3wRPzsD0Wyw8nAoZUgGs1F/44027c2f7cbcf348d340a54880cf301b/Calile2.0MID1.jpg" alt="Artistic renders of the newly designed plans for Calile Hotel Noosa." data-mce-src="//images.ctfassets.net/8pr762qjocl3/3wRPzsD0Wyw8nAoZUgGs1F/44027c2f7cbcf348d340a54880cf301b/Calile2.0MID1.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ A render of the newly designed plans for Calile Hotel Noosa. Source: Richards and Spence<br><br></span></div></div><p>Malouf says the spacious bushland setting on Serenity Close would accommodate “generously proportioned facilities”, including multiple swimming pools, a tennis court, comprehensive wellness facilities, a cinema and function spaces.</p><p>He says the Calile Hotel Noosa would be looking to capitalise on the undersupply of integrated luxury resort accommodation in the Sunshine Coast’s northern reaches.</p><p>“Noosa’s natural beauty makes it one of Australia’s most desirable coastal holiday destinations. There is however an undersupply of integrated luxury resort accommodation. &nbsp;</p><p>“All of the hotel rooms will be generously sized with the standard room being 45sq m and a range of larger suites. The three-bedroom villas (complete with private pool) will cater to families or groups of friends looking for a shared hotel experience.”</p><div id="64bFRaLSTGDZQrppTBu5yd"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1eiL7FoZA8hEboGzZ1Y3M9/d676956501a34fd39db3b2a713da126c/Calile2.0MID2.jpg" alt="Artistic render of Calile Hotel Noosa, designed by Richards and Spence." data-mce-src="//images.ctfassets.net/8pr762qjocl3/1eiL7FoZA8hEboGzZ1Y3M9/d676956501a34fd39db3b2a713da126c/Calile2.0MID2.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ A render of Calile Hotel Noosa, designed by Richards and Spence.<br><br></span></div></div><p>But it’s not only about the luxurious setting of the Calile Hotel Noosa. Malouf says they are aiming for an operational carbon neutral target.</p><p>“We have some great circular economy initiatives, including large-scale vermicomposting. These commercial worm farms, in conjunction with industrial bio-dehydrators, should mean we will be able to manage on-property all organic waste from the hotel operation.</p><p>“The nutrient rich worm-cast byproduct will feed the soil for the rooftop culinary garden, with all organic produce in-turn being used in the resort restaurants.”</p><p>They are working with the Noosa council to provide hotel guests with a solar-powered electric ferry service along the Noosa River to Hastings Street to cut traffic congestion during peak holiday periods.&nbsp;</p><div id="24xwXfCeKq1d4eSY8QAzxr"><picture><img src="//images.ctfassets.net/8pr762qjocl3/2Ed1ozckYJukmhqEaUNlJw/dd2848ca1ce6b6e7fef2693407a4ad09/GloftisMID.jpg" alt="Restaurateur Simon Gloftis standing in front of the Calile on James Street. " data-mce-src="//images.ctfassets.net/8pr762qjocl3/2Ed1ozckYJukmhqEaUNlJw/dd2848ca1ce6b6e7fef2693407a4ad09/GloftisMID.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ The Noosa Calile Hotel will be looking to repeat the successes of the James Street venture’s collaboration with restaurateur Simon Gloftis to provide high-end dining experiences.<br><br></span></div></div><p>Malouf says they are also on the hunt for “the best food talent” to operate food and beverage venues within the resort to provide superior dining experiences, similar to the successful collaboration at James Street between restaurateur Simon Gloftis and The Calile.</p><p>Gloftis has anchored the hotel with high-end restaurants, including Hellenika, SK Steak and Oyster, and the recently opened Sushi Room.</p><p>Malouf says Hutchies has provided some early contractor advice and they have a “great working relationship” with the Queensland-based builders who led construction of the Calile Hotel Brisbane.</p><p>While the plans are due to be formally lodged this month, Malouf says they hope to break ground in early 2024 and open the luxury resort in 2026.&nbsp;</p><p>Brisbane’s Calile Hotel was recently awarded second in Conde Nast’s The best hotels in Australasia: 2022 Readers’ Choice Awards, behind Hobart’s The Tasman.</p><p>The urban resort was named after the brothers’ great-grandfather Calile Malouf, who landed in Australia in 1892.<br></p><p>The creators of the Calile Hotel, Calile Malouf Investments director Catherine Malouf, restauranteur Simon Gloftis and Richard and Spence Ingrid Richards will join <em>The Urban Developer</em> for our inaugral Long Lunch, at The Calile Hotel, Brisbane on Friday, October 28. Learn more <a data-mce-href="https://www.eventbrite.com.au/e/long-lunch-the-creators-of-the-calile-tickets-412658461567?aff=tudwebsite0content0supplementary1" href="https://www.eventbrite.com.au/e/long-lunch-the-creators-of-the-calile-tickets-412658461567?aff=tudwebsite0content0supplementary1" target="_blank">here</a>.<br><br></p><hr><p><strong><br>You are currently experiencing <em>The Urban Developer</em> Plus (TUD+), our premium membership for property professionals. </strong><a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans"><strong>Click here to learn more.</strong></a></p><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>

Michael and Cal Malouf, the placemakers that put James Street on the map, are plotting a second Calile Hotel in another well-heeled south-east Queensland market...

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<p>Under-construction development projects in riverside and waterfront suburbs with luxury amenities remain firmly on their must-have list for buyers shopping in Brisbane’s property market.</p><p>According to REA Group, high-end apartment and townhouse projects in Brisbane have topped buyers’ wish lists from across the country as they shop for prestige property in unrepeatable locations.</p><p>Brisbane’s growth has been <a data-mce-href="https://www.theurbandeveloper.com/articles/brisbane-housing-market-update" href="https://www.theurbandeveloper.com/articles/brisbane-housing-market-update" target="_blank" rel="noopener">on the back of Covid-19</a> forcing Australians to rethink their work and lifestyle values as well as the announcement it would be the main host city of the <a data-mce-href="https://www.theurbandeveloper.com/articles/brisbane-games-golden-suburbs-development-investment" href="https://www.theurbandeveloper.com/articles/brisbane-games-golden-suburbs-development-investment" target="_blank" rel="noopener">2032 Olympic Games</a>.</p><p>It has meant the city has secured a spot as one of the <a data-mce-href="https://www.theurbandeveloper.com/articles/knight-frank-global-residential-cities-index-brisbane-adelaide-2022" href="https://www.theurbandeveloper.com/articles/knight-frank-global-residential-cities-index-brisbane-adelaide-2022" target="_blank" rel="noopener">top 20 global cities</a> to record the strongest property price growth in residential prices over a 12-month period.&nbsp;</p><p>The country’s largest real estate portal has revealed that across the year so far, buyers searching on their platform have been drawn to boutique developments in fringe CBD suburbs as well as established suburbs in Brisbane’s middle ring offering <a data-mce-href="https://www.theurbandeveloper.com/articles/mirvac-charlton-house-sales" href="https://www.theurbandeveloper.com/articles/mirvac-charlton-house-sales" target="_blank" rel="noopener">unique attributes</a>.</p><p>One of China’s most active property developers, Poly Global, is pressing ahead with its Ascot Aura development alongside the prestigious Eagle Farm and Doomben Racecourses.</p><p>Meanwhile, developments in the bohemian suburb of West End, such as West Village and The Lanes, have continued to rank in popularity with buyers alongside some of the city’s biggest and boldest projects.</p><p>Buyers have also been drawn to outer ring projects such as Urbex Living’s collection of dwellings in Manly and have even looked as far afield as Banksia Beach, eyeing QM Properties’ house and land development in Bribie Island to Brisbane’s north.</p><p>Prospective buyers in Brisbane’s market have continued to search and enquire about apartment projects in “hotel-inspired” suburban developments offering “luxurious” amenities such as swimming pools, wine cellars, private cinemas, libraries and saunas.</p><p>High-rise and high-end developments such as Billbergia’s Skytower at 222 Margaret Street—the city’s tallest tower at 88-storeys—and the Far East Consortium’s $3.6 billion Queens Wharf development, which comprises 2000 riverside apartments, were among the most-viewed products online.<br><br></p><hr><h2><br>10. Wellington Street<br><br></h2><div id="6lhOfPFZrKW8gFxSfPrkDN"></div><div id="oGPNmhEePyUJCKftUMxxV"><div id="XcqruN6q1Am6tFmu85V75"><div id="ON9tmpD5HN47TTS7vjIlt"><div id="7dywAMtKlDbRKyWS8Kxmaq"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3Ios2WKp54QynRcFEKG79z/8e4a77c7935c234442aa308cc4ca6f8a/313-way-split-new.jpg" alt="Three images of 7 Wellington Street development in Manly" data-mce-src="//images.ctfassets.net/8pr762qjocl3/3Ios2WKp54QynRcFEKG79z/8e4a77c7935c234442aa308cc4ca6f8a/313-way-split-new.jpg"></picture></div></div></div></div><div><br></div><p><strong>Address: </strong>7 Wellington Street, Manly, Qld 4179<br><strong>Developer: </strong>Urbex Living</p><p>The Wellington Collection is a series of six apartments and two townhouses in the bayside suburb of Manly in Brisbane’s east. The $22-million high-end development will overlook the Manly boat harbour with views out to Moreton Bay. The project is being delivered by Urbex Living, a division of Urbex, and is expected to be completed in late 2023 with near half of sales secured off the plan, with prices starting from $2 million to $3.37 million. Urbex commenced construction last month.<br><br></p><hr><h2><br>9. Ellendale<br><br></h2><div id="7ec5fZZn57dHTzm9Q8uabK"><div id="4OAPImWdPm0g6BHcJjc9X4"><div id="6BuCwZiV3bWQlFKChOQmvj"><div id="7IxVueDSGr9otyUyGDLxW3"><div id="2VDowko7kaT10LdBKbq6s2"><picture><img src="//images.ctfassets.net/8pr762qjocl3/mAuprDYAqUhWrG1hW38fe/02537c9e0072f75db7bfac43596b58f6/41443-way-split-new.jpg" alt="Three images of 324 Canvey Road development in Upper Kedron" data-mce-src="//images.ctfassets.net/8pr762qjocl3/mAuprDYAqUhWrG1hW38fe/02537c9e0072f75db7bfac43596b58f6/41443-way-split-new.jpg"></picture></div></div></div><div><br></div></div></div><p><strong>Address: </strong>324 Canvey Road, Upper Kedron, Qld 4055<br><strong>Developer: </strong>Cedar Woods<span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;" data-mce-style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"><br></span></p><p>Ellendale is a masterplanned community just 12km from the Brisbane CBD. The masterplan embraces 9ha of nature corridors and recreation space. Tree-lined streets blend with premium homesites, nestled amongst natural bush corridors. Cedar Woods has left close to 40 per cent of the site as green space. Late last year, a release of 14 lots, ranging from $399,000 and $643,000, sold out after a two-week expressions of interest campaign. Cedar Woods is now working to bring forward new stages of land shortly at the development.<br><br></p><hr><h2><br>8. Jade Apartments—Albion<br><br></h2><div id="7ec5fZZn57dHTzm9Q8uabK"><div id="4OAPImWdPm0g6BHcJjc9X4"><div id="6BuCwZiV3bWQlFKChOQmvj"><div id="27TrmAM9vSWK1Fe32mPszB"><div id="45xwuGED2qmj1Q1b62Wz7T"><div id="6okN2B7DMZNLOSuDaa03Uu"><picture><img src="//images.ctfassets.net/8pr762qjocl3/76AdycuGbvvgW0vzkQIqmI/ceff1ef77e255578d57991bfc9d69768/33333-way-split-new.jpg" alt="Three images of Jade Apartments development in Albion
" data-mce-src="//images.ctfassets.net/8pr762qjocl3/76AdycuGbvvgW0vzkQIqmI/ceff1ef77e255578d57991bfc9d69768/33333-way-split-new.jpg"></picture></div></div></div></div><div><br></div></div></div><p><strong>Address:</strong> 235 Burdett Street, Albion, Qld 4010<br><strong>Developer: </strong>Arden Group</p><p>Arden Property Group’s Jade development won approval in 2014 and was the first major residential development in Albion’s industrial precinct. Comprising four buildings and 369 apartments designed over a large 1.4ha site in a quiet node of Albion. The six-level residential apartment development in Brisbane’s desirable northern suburbs, being delivered by Hutchinson Builders, is just 4km from the Brisbane CBD offering one, two and three-bedroom apartments.&nbsp;<br><br></p><hr><h2><br>7. Pacific Harbour<br><br></h2><div id="7ec5fZZn57dHTzm9Q8uabK"><div id="4OAPImWdPm0g6BHcJjc9X4"><div id="6BuCwZiV3bWQlFKChOQmvj"><div id="27TrmAM9vSWK1Fe32mPszB"><div id="2wBsYqVEffehYgluR31Xrq"><div id="2wR7samFhNL4by6OSEXCPU"><div id="WEcxxxAqvuYjiB7VJpO9C"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4pEfIXKm5Wfl7DlBqK6yVP/44e6dd2334e453dbbbfb0ac5c7d67c45/413-way-split-new.jpg" alt="Three images of development at corner of Sylvan Beach Esplanade &amp; Marina Boulevard, Banksia Beach, Qld 4507" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4pEfIXKm5Wfl7DlBqK6yVP/44e6dd2334e453dbbbfb0ac5c7d67c45/413-way-split-new.jpg"></picture></div></div></div></div></div><div><br></div></div></div><p><strong>Address:</strong> Cnr Sylvan Beach Esplanade &amp; Marina Boulevard, Banksia Beach, Qld 4507<br><strong>Developer:</strong> QM Properties</p><p>QM Properties’ Pacific Harbour development in Bribie Island offers large house and land packages close to pristine surf beaches, boating, fishing, golf and wildlife. The development has access to both the open sea and the tranquil waters of Pumicestone Passage making this an unrivalled boating address. The project is 45 minutes from the Sunshine Coast and under an hour from Brisbane.<br><br></p><hr><h2><br>6. Queen's Wharf Tower<br><br></h2><div id="7ec5fZZn57dHTzm9Q8uabK"><div id="4OAPImWdPm0g6BHcJjc9X4"><div id="6BuCwZiV3bWQlFKChOQmvj"><div id="27TrmAM9vSWK1Fe32mPszB"><div id="2wBsYqVEffehYgluR31Xrq"><div id="6aal1GprGROVVs8QhEqO0G"><div id="4AjoS510Ku3kYq85jIw92Q"><div id="1UOYHBVvKVpcWXjcfUEUbi"><picture><img src="//images.ctfassets.net/8pr762qjocl3/2F8Xu6PfXMH8w2mEf6O5AL/49cb2a27e95cadc715b1d92e49fa985f/333-way-split-new.jpg" alt="Three images of Queen's Wharf Tower development at 23 Margaret Street, Brisbane City, Qld 4000" data-mce-src="//images.ctfassets.net/8pr762qjocl3/2F8Xu6PfXMH8w2mEf6O5AL/49cb2a27e95cadc715b1d92e49fa985f/333-way-split-new.jpg"></picture></div></div></div></div></div></div><div><br></div></div></div><p><strong>Address:</strong> 23 Margaret Street, Brisbane City, Qld 4000<br><strong>Developer: </strong>Far East Consortium, Chow Tai Fook Enterprises</p><p>After launching the new Queen’s Wharf Tower to market back in March, sales have been strong, with buyers eager to secure an address along the Brisbane River in the unrepeatable $3.6-billion Queen’s Wharf Brisbane project. The project is on the corner of Margaret and William Street. Residences are divided into Emerald, Ruby and Diamond tiers, in addition to the Penthouse Collection. The towers are designed by Cottee Parker to take advantage of either city, Botanic Gardens, or river views. Sustainability has been prioritised within the projects’ towers, boasting a 6 Green Star Design and As-Built rating, as well as EV-compatible carparks for residents.<br><br></p><hr><h2><br>5. Akin South Brisbane<br><br></h2><div id="7ec5fZZn57dHTzm9Q8uabK"><div id="4OAPImWdPm0g6BHcJjc9X4"><div id="6BuCwZiV3bWQlFKChOQmvj"><div id="27TrmAM9vSWK1Fe32mPszB"><div id="2wBsYqVEffehYgluR31Xrq"><div id="6aal1GprGROVVs8QhEqO0G"><div id="59OhHreWJzpLoh1iZvbTJR"><div id="HOmCrEmRoPfCpxxa9iBiK"><div id="6i2TQfKrCixuDQr8X50rY5"><picture><img src="//images.ctfassets.net/8pr762qjocl3/7kqwIMIive4bEtbRwkRaZT/c6254df1445430d03bc50f45962ef97e/3123-way-split-new.jpg" alt="Three images of development project Akin at 35 Merivale Street, South Brisbane, Qld 4101" data-mce-src="//images.ctfassets.net/8pr762qjocl3/7kqwIMIive4bEtbRwkRaZT/c6254df1445430d03bc50f45962ef97e/3123-way-split-new.jpg"></picture></div></div></div></div></div></div><div><br></div></div></div></div><p><strong>Address: </strong>57 Coronation Drive, Milton, Qld 4064<br><strong>Developer:</strong> Tallis Property Group&nbsp;</p><p>Soon to be standing 30 storeys tall at 35 Merivale Street in South Brisbane, Tallis Property Group's $180 million is perfectly positioned within minutes from Queensland Performing Arts Centre, Brisbane Convention and Exhibition Centre, Brisbane Streets Beach, TAFE Queensland, and Musgrave Park. The development will feature 190 apartments, with the upper floor sky homes brand new to the market and selling now. The project will be completed in early 2024.<br><br></p><hr><h2><br>4. Ascot Aurora<br><br></h2><div id="7ec5fZZn57dHTzm9Q8uabK"><div id="4OAPImWdPm0g6BHcJjc9X4"><div id="6BuCwZiV3bWQlFKChOQmvj"><div id="27TrmAM9vSWK1Fe32mPszB"><div id="2wBsYqVEffehYgluR31Xrq"><div id="6aal1GprGROVVs8QhEqO0G"><div id="59OhHreWJzpLoh1iZvbTJR"><div id="6JnB6X15h2502L8BJ0XPZ"><div id="7BKcsOCdiDblUYw4AGEpz5"><div id="6iyAEevCMpxA8OYi7BJFVq"><div id="1K5tr8ZGlOFxpOzina2EEy"><picture><img src="//images.ctfassets.net/8pr762qjocl3/gB2dhVhVHzfiuUswILHdg/a714a453e3942c68a7730bcd616876eb/12313-way-split-new.jpg" alt="Three images of Ascot Aurora development at 104 Lamington Avenue in Ascot" data-mce-src="//images.ctfassets.net/8pr762qjocl3/gB2dhVhVHzfiuUswILHdg/a714a453e3942c68a7730bcd616876eb/12313-way-split-new.jpg"></picture></div></div></div></div></div></div></div></div></div><div><br></div></div></div><p><strong>Address: </strong>104 Lamington Avenue, Ascot, Qld 4007<br><strong>Developer: </strong>Poly Global</p><p>Chinese-backed developer Poly has secured approval for its first Queensland residential development in the Brisbane suburb of Ascot. Approval for the 234-dwelling development was granted in 2020. The Aurora Ascot project comprises 209 townhouses, 10 free-standing homes and 15 apartments on a 62,000sq m site, acquired by Poly for $36.5 million in 2019. The project marks the developer’s first foray into the Queensland market since arriving in Australia in 2014.<br><br></p><hr><h2><br>3. The Lanes<br><br></h2><div id="7ec5fZZn57dHTzm9Q8uabK"><div id="4OAPImWdPm0g6BHcJjc9X4"><div id="6BuCwZiV3bWQlFKChOQmvj"><div id="27TrmAM9vSWK1Fe32mPszB"><div id="2wBsYqVEffehYgluR31Xrq"><div id="6aal1GprGROVVs8QhEqO0G"><div id="59OhHreWJzpLoh1iZvbTJR"><div id="6JnB6X15h2502L8BJ0XPZ"><div id="7BKcsOCdiDblUYw4AGEpz5"><div id="4ljjjxg32airIyApOiw2Xr"><div id="sv9QXCMRS6lA6PWqQQh3G"><div id="5u9L570mA9tT1G0aZyrq2L"><picture><img src="//images.ctfassets.net/8pr762qjocl3/cyBpyVFzQBNejiYUqsAMh/5ec9f3713170ef80ae9a6afd21e5088f/1313-way-split-new.jpg" alt="Three renders of The Lanes development at  41 Tondara Lane in West End Brisbane" data-mce-src="//images.ctfassets.net/8pr762qjocl3/cyBpyVFzQBNejiYUqsAMh/5ec9f3713170ef80ae9a6afd21e5088f/1313-way-split-new.jpg"></picture></div></div></div></div></div></div></div></div></div></div><div><br></div></div></div><p><strong>Address: </strong>41 Tondara Lane, West End, Qld 4101<br><strong>Developer: </strong>Pradella Developments</p><p>Known as The Lanes, Brisbane-based Pradella has launched the final stage of its $1.3-billion riverside West End masterplan next to the recently completed Montague Markets development in West End. Designed by Bureau Proberts, the three-tower development features a curved facade with landscaped sky-bridges every second level. The development will offer 4500sq m of resort-style amenities, a new community park, and a private dog park.<br><br></p><hr><h2><br>2. The Horizon Collection<br><br></h2><div id="7ec5fZZn57dHTzm9Q8uabK"><div id="4OAPImWdPm0g6BHcJjc9X4"><div id="6BuCwZiV3bWQlFKChOQmvj"><div id="27TrmAM9vSWK1Fe32mPszB"><div id="2wBsYqVEffehYgluR31Xrq"><div id="6aal1GprGROVVs8QhEqO0G"><div id="59OhHreWJzpLoh1iZvbTJR"><div id="6JnB6X15h2502L8BJ0XPZ"><div id="7BKcsOCdiDblUYw4AGEpz5"><div id="4ljjjxg32airIyApOiw2Xr"><div id="poqiwt0u2KbPGeOhh8yz7"><div id="3s7uwH6Y40C17EeudXRZCL"><div id="46Pcy24yts9eptPyNaozzi"><picture><img src="//images.ctfassets.net/8pr762qjocl3/5ESiX6pVg2Tbedecq8nPdr/17d96e26dbdd3c3c3cb647eaf57d7af6/3123-way-split-new.jpg" alt="Three photos of The Horizon Collection at 222 Margaret in Brisbane City" data-mce-src="//images.ctfassets.net/8pr762qjocl3/5ESiX6pVg2Tbedecq8nPdr/17d96e26dbdd3c3c3cb647eaf57d7af6/3123-way-split-new.jpg"></picture></div></div></div></div></div></div></div></div></div></div><div><br></div></div><p><strong>Address: </strong>222 Margaret, Brisbane City, Qld 4000<br><strong>Developer: </strong>Billbergia, AMP Capital</p></div></div><p>Skytower, by developer Billbergia, is Brisbane’s tallest high-rise and the fourth-tallest in Australia. Between levels 82 and 89 is the exclusive Horizon Collection–46 penthouses and apartments where the views are the best the building has to offer. The building, completed in 2019, lays claim to the highest outdoor infinity edge pool in the southern hemisphere. The pool is on the 89th floor along with a large outdoor entertaining area with barbecue facilities exclusively for residents of the Horizon Collection.<br><br></p><hr><h2><br>1. West Village<br><br></h2><div id="7ec5fZZn57dHTzm9Q8uabK"><div id="4OAPImWdPm0g6BHcJjc9X4"><div id="6BuCwZiV3bWQlFKChOQmvj"><div id="27TrmAM9vSWK1Fe32mPszB"><div id="2wBsYqVEffehYgluR31Xrq"><div id="6aal1GprGROVVs8QhEqO0G"><div id="59OhHreWJzpLoh1iZvbTJR"><div id="6JnB6X15h2502L8BJ0XPZ"><div id="7BKcsOCdiDblUYw4AGEpz5"><div id="4ljjjxg32airIyApOiw2Xr"><div id="poqiwt0u2KbPGeOhh8yz7"><div id="1DrI6dKdXBHKGBd0TMV3SA"><div id="67O3C6vrAovpl77duF4sp3"><div id="6hkBREwhrjydwRwUcgvc5P"><picture><img src="//images.ctfassets.net/8pr762qjocl3/2AMxznlvT06qUd5cdhBCGB/18482f9652102b09e61b66bc95543baf/013-way-split-new.jpg" alt="Three images of West Village development at 25-27 Mollison Street in West End, Brisbane" data-mce-src="//images.ctfassets.net/8pr762qjocl3/2AMxznlvT06qUd5cdhBCGB/18482f9652102b09e61b66bc95543baf/013-way-split-new.jpg"></picture></div></div></div></div></div></div></div></div></div></div></div></div></div></div><p><strong><br>Address: </strong>25-27 Mollison Street, West End, Qld 4101<br><strong>Developer: </strong>Sekisui House</p><p>West Village, a sprawling $1.1-billion mixed-use urban regeneration project over 2.6ha at inner-city West End—less than 1km from Brisbane’s CBD that, when completed, will have 800 residences, 14,00sq m of retail, and up to 20,00sq m of commercial, while half of the site will be dedicated back to parkland. The most recently delivered tower is Arcadia—a collaboration between Sekisui House, SJB, Plus Architecture and Akira Isogawa. The last stage of the masterplanned development is Callista on Park, comprising 74 apartments and a childcare centre.</p>

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<p>London was calling to a faraway town—repeatedly and for quite some time.</p><p>On the other end of the line in Sydney were three mates, who out of collective boredom had left their jobs and got their entrepreneurial dopamine pumping by starting a property development company called Thirdi.</p><p>About 17,000km away as the crow flies, another mate nicknamed Boof was playing professional rugby in the UK.</p><p>Off the field, however, he was dialed into the trio’s ambitious enterprise.</p><p>As Thirdi’s Luke Berry tells it, the first long distance call from Boof—otherwise known as former Australian international front-rower Gareth Hardy—came not long after he had joined English Premiership side Leeds Carnegie.</p><p>“Boof had been chipping away at us for years and he goes ‘You guys, there’s opportunities in London—come and check it out’.</p><p>“And we were like ‘Mate, are you dreaming? We’ve got enough on our plate in Australia’.”</p><p>But the calls kept coming and then, some time later, fate intervened. A wedding invitation from a mutual friend of Berry and his Thirdi co- founders Ron Dadd and Robert Huxley landed them all in London at the same time.</p><p>“We met Boof and we did the maths … and we said to him ‘Ok, we like the sound of this—if you go and find a site that is 100 per cent pre-sold, has got a senior finance offer and a head contractor lined up we’ll put the equity in’.</p><p>“That’s like winning the lotto in our game and we didn’t think he’d do it.</p><p>“But to his credit he hustled … and we ended up getting our first project in London. That’s what really started our business over there.”</p><div id="4TS7tk2IbjXxcrCApmtflk"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1BcF1w7QDxFGlWh3oScnk2/dc942bd07fd3403258cc883a8ae7aa74/Mid_article_resizes__4_.jpg" alt="Thirdi’s Luke Berry and a render of the developers’ York Road project in London." data-mce-src="//images.ctfassets.net/8pr762qjocl3/1BcF1w7QDxFGlWh3oScnk2/dc942bd07fd3403258cc883a8ae7aa74/Mid_article_resizes__4_.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Thirdi’s Luke Berry and a render of the developers’ project on York Road in Battersea, London.<br><br></span></div></div><p>Five years later, Thirdi has a rapidly growing $500-million portfolio of projects in the UK where the company’s international expansion is being overseen by Dadd, who has moved to London, and Hardy (aka Boof), now its locally-based director of development.</p><p>So far, it has two projects under its belt. Finishing touches are being put to its debut UK development comprising 100 apartments at Battersea and work is under way on Graphite Square, its mixed-use project in South London’s Vauxhall with 160 apartments and 7500sq m of collaborative work space.</p><p>“We’re now looking at our third and fourth deals,” says Berry.</p><p>The company is shortlisted for two major projects that he says—if it gets one or both —“will be massive for our business over there”.</p><p>“One of them is a premium boutique offering that’s in one of the most sought-after locations of London with outstanding views of the Thames, the CBD and all the icons of London. It’s a really high-end product.</p><p>“The other one that we’re very close on is a larger affordable project that’s around 300 apartments.”<br></p><h2>Five year plan</h2><p><br>According to Berry, Thirdi's overall pipeline—including 16 developments in Australia—totals “just over $3 billion” and in the UK it has ambitious growth plans to replicate the size of its Australian business in terms of end value of projects within five years.</p><p>“That’s our target … what took us 15 years to do here we want to do in five years in London.”</p><p>It is certainly an expansion road less travelled by most Australian developers, and especially one that has rarely played outside its home state of New South Wales let alone the country’s international border.</p><p>But perhaps the writing was on the wall from the beginning.</p><p>Back in 2006, Thirdi—then a fledgling start-up operating out of Dadd’s lounge room—embarked on its first development, an apartment and townhouse project called The Palms at Whyalla in South Australia’s Iron Triangle.</p><div id="4KaLknur08YM0xQn7eliYj"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6Dt5uQT5p2teTI4m1UTY8O/b8e1060ff3c9e41c2a20ab9e72146d16/2.jpg" alt="Thirdi's Dairy Farmers towers in Newcastle, NSW." data-mce-src="//images.ctfassets.net/8pr762qjocl3/6Dt5uQT5p2teTI4m1UTY8O/b8e1060ff3c9e41c2a20ab9e72146d16/2.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Thirdi's Dairy Farmers Towers project is under way in Newcastle, NSW.<br><br></span></div></div><p>And guess who was wanting a piece of the action and bought one of the townhouses off-the-plan? None other than their mate Boof, who had just left the Waratahs to play for Western Force and in the not-too-distant future London would be calling him.</p><p>“Sydney developers usually go to the Gold Coast and do their arse, right? We’ve gone to London,” says Berry.</p><p>“The way we look at it, we could have expanded into another state like everyone else but there wasn’t the same upside of going to an international market like the UK.”&nbsp;</p><p>Crunching the numbers the return on equity was just too compelling.</p><p>“Property development in Australia is hard,” Berry says. “You’ve got a lot of rules around funding and sales and you’ve only got four big banks and a lot of second-tier lenders are coming in.</p><p>“But over in London you’ve got 70 banks and they don’t apply the same restrictions to foreign investment as Australia does. And the government actually supports private development by buying properties off-the-plan as housing for essential workers.”</p><p>About 30 to 35 per cent of the apartments in Thirdi’s UK developments have been purchased by one of Britain’s biggest social housing providers for public sector employees, Paragon Asra.</p><p>“They’ve got a big problem in London, like Sydney, where the cost of housing is outrageous and the nurses, the teachers, the bus drivers, the people that run the city can’t afford to live in it,” Berry says.</p><p>“The government’s solution, and we think Australia really needs to consider this, is that they co-invest in a percentage of the developments …and they actually pay for the apartments at land settlement, then at milestones during the delivery and the banks treat their payments as equity.</p><p>“So, it&nbsp; ends up that your returns on equity are amplified by almost 300 per cent or at least 100 per cent, depending on the deal.”&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p>The other major upside to its London development play, says Berry, is “all of a sudden we’ve got a spot at the big boys’ table when it comes to global investment deals”.</p><div id="2KtmYMPB6xTvmSnYgAEs6D"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3SjLJ8s8jghetnfTiLRnVa/6f3b084e30f833c99a93aa35b52d02b8/5.jpg" alt="A render of the Thirdi Graphite Square development in London." data-mce-src="//images.ctfassets.net/8pr762qjocl3/3SjLJ8s8jghetnfTiLRnVa/6f3b084e30f833c99a93aa35b52d02b8/5.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ A render of the Thirdi Graphite Square development in London.<br><br></span></div></div><p>“Before we were in the UK it was very difficult to get people’s attention.</p><p>“Now we’re talking to these capital partners that are looking at putting hundreds of millions of dollars into projects with us, both here in Australia and in the UK. And that's why the UK was so strategic for us.”</p><p>Integral to Thirdi’s success has been the Australian development mindset of pre-sales it has brought to the UK market, where there is traditionally more sales focus and risk at the tail end of a project.</p><p>Earlier this year, Graphite Square was named the fastest-selling development in central London’s sought-after zone one neighbourhoods, notching $64 million in sales to local and international buyers.<br></p><p>“All the establishment over there were like ‘Who the hell are these guys?’”&nbsp; says Berry, who drives Thirdi's sales and marketing.</p><p>“We sell out developments and get debt covered … and so, our projects are actually more de-risked than a traditional UK development.</p><p>“I think as Australian developers we punch above our weight because we’re conditioned to get so many pre-sales and we have the best marketing—the materials we produce, the way we digitally represent projects and the experiences we give buyers, in my opinion, is the best in the world.</p><p>“You combine those elements and take that to London, with a lot of hard work and a fair bit of good luck we can be very successful in that market.”<br></p><h2>The tyranny of distance</h2><p><br>Nonetheless, he says, it is a tough market with challenges, most notably the tyranny of distance—“working in a timezone that’s completely off and upside down”.</p><p>“Once you get established in the UK, however, the rewards are there,” Berry says.</p><p>“Right now, though, there’s a lot of uncertainty econmically and with wider world politics making it a challenging time to enter the market.</p><p>“But eventually there's going to be some real opportunities and, because we got in five years ago, we’ve got a strong base and bit of momentum ... so, we’re just trying to be in the best position possible to grab them when they pop up.”</p><p>Closer to home, Thirdi is on a journey of diversification to further strengthen its Australian business.</p><p>By covering all the development bases—residential, commercial, specialist disability accommodation and, more recently, retirement living as well as land subdivision and communities—its strategy is “when the cycle comes and goes for each of them we can ride it”.</p><div id="63WQm2nyatkpvsjHFEhBiO"><picture><img src="//images.ctfassets.net/8pr762qjocl3/mM1eGd09iGoip1fWaPOpS/178bc2a849047f7b597fd0e5bb04e3ed/3.jpg" alt="A render of Thirdi's Waranda on Walker in Sydney." data-mce-src="//images.ctfassets.net/8pr762qjocl3/mM1eGd09iGoip1fWaPOpS/178bc2a849047f7b597fd0e5bb04e3ed/3.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ A render of Thirdi’s Warada on Walker in North Sydney.<br><br></span></div></div><p>With its joint-venture partner Toohey Miller, it is progressing its North Sydney $650-million, 22-storey commercial tower, <a data-mce-href="https://www.theurbandeveloper.com/articles/thirdi-jv-wins-approval-for-aud650m-north-sydney-tower" href="https://www.theurbandeveloper.com/articles/thirdi-jv-wins-approval-for-aud650m-north-sydney-tower" target="_blank" rel="noopener">Warada on Walker</a>, and an $85-million Potts Point boutique apartment development.</p><p>Continuing its charge into the regions, it is also moving forward with its <a data-mce-href="https://www.theurbandeveloper.com/articles/newcastle-dairy-farmers-towers-thirdi" href="https://www.theurbandeveloper.com/articles/newcastle-dairy-farmers-towers-thirdi" target="_blank" rel="noopener">184-apartment Dairy Farmers Towers</a> urban renewal development in its familiar Newcastle stomping ground and also has recently been given the green light for a <a data-mce-href="https://www.theurbandeveloper.com/articles/thirdi-coffs-harbour-approval" href="https://www.theurbandeveloper.com/articles/thirdi-coffs-harbour-approval" target="_blank" rel="noopener">$35-million residential project at Coffs Harbour</a>.</p><p>Under its ThirdAge banner, it is partnering with Newcastle’s Merewether Golf Club to develop its first retirement living project, the $120-million Merewether Residences.</p><p>“Mum and Dad are moving in there so I tell you what, there’s a bit of pressure to get that one right,” Berry muses.</p><p>But in a major strategic move, the company is also now making a push into residential land development with its newly-established Thirdi Communities division.&nbsp;</p><p>“We’ve now got a significant landholding between Sydney and Newcastle ... and we’ve also exchanged on another large parcel of land near Maitland,” Berry says.&nbsp;</p><p>“It’s all still in the early stages and subject to planning but across those two developments we’ve set ourselves a target to create 5000 houses, villas and duplexes by 2025.</p><p>“We believe that there is a major housing issue coming. The data is showing there's a chronic undersuuply of good housing lots and so that's why we're pivoting into land.</p><p>“Also, a lot of land subdivisions have been just boxes jammed in on top of each other with no greenery, no pathways, no nature.</p><p>"So, we're going to take a very similar view to lifestyle and amenity that we offer in apartments, and offer that into our land communities.</p><p>“Almost 50 per cent of our estates will be dedicated to green open space and they’ll be the kind of places where people are going to want to live.</p><p>“They’re not going to want to be in an estate where it’s just all, you know, brick veneer and aluminium roofs. So, we’re going to actually design beautiful parks, pathways and community facilities that we think the next generation are going to want when it comes to house and land.”</p><p>And, no doubt, while they are keeping the Australian dream alive London also will keep calling.<br><br></p><hr><p><strong><br>You are currently experiencing <em>The Urban Developer</em> Plus (TUD+), our premium membership for property professionals. </strong><a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans"><strong>Click here to learn more.</strong></a></p><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>

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