Saturday 14 October 2023

QLD island property listed for less than house in parts of Logan

This spectacular island property off Far North Queensland has two houses, a beach hut and views to rival the Maldives.

But this one will cost you less than a bog standard house in parts of Brisbane.

Located on Prince of Wales Island, also known as Muralug Island, in the Torres Strait, the 1214sq m property has spectacular views across the channel to Horn Island, Thursday Island and to Cape York.

[TAG0]
You could have this …

It is listed for offers over $1 million, which means it could cost you less than the average house in some suburbs in Logan-Beaudesert (Chambers Flat, Forestdale) and Ipswich (Brookwater, Corinda).

According to the latest ABS census, the island was home to just 20 families in 2021, with 61 private dwellings on the Torres Strait’s largest island.

It had a population of just 62 at that time.

“The island is used predominantly for recreation purposes by the people of Thursday Island; the western coastline is mostly local government camping and recreation reserves,” according to the Torres Strait Council.

“A number of families live on Prince of Wales Island, however the island does not have established facilities for electricity, water, waste and sewerage.

“Most rely on power generators to supply electricity, water tanks for clean water, and a daily pick up by contractors to collect and dispose of refuse in the temporary landfill on the island.”

But who cares when you have THAT view.

Lot 104 Muralag Beach Rd offers freehold land with two houses that have been designed to be completely self-sufficient and off the grid.

“All electricity needed for the property is provided by power, a brand new Selectronic SP PRO and 4 ABB selectronic certified inverters, new solar panels, 24 lithium storage batteries plus a new backup 10.5 KVA Kubota generator in case you need it,” the listing says.

”Eight water tanks to collect the monsoonal rains, storing the pristine water all year round for drinking, cooking, and washing.

“Opportunities like this are a rarity and the Torres Strait provides an incredible backdrop.”

The “First House/Top House” features four bedrooms with built-in wardrobes, split-system airconditioning and access to a private balcony. There is also a laundry and bathroom on the bottom level, while the top level is home to the open plan living area with wraparound kitchen, a timber feature ceiling, airconditioning, internal and external stairs.

Adjoining the main living is a huge running the full length of the building with stunning views. This house has been fully renovated and rewired.

The “Second House/Bottom House” has been partially renovated and has three bedrooms, an open plan living and kitchen, bathroom and laundry. It too has a full length deck.

The covered “Beach Hut” has been newly built and has stairs directly to the sand.

[TAG1]
The beach hut

“Thursday Island, which is the main commercial hub of the Torres Strait Islands, is located a short 5-minute boat ride from Prince of Wales (Muralag Island),” the listing says.

“Here you will find all you need if you need it, Australia Post, restaurants, grocery stores, Mitre 10, a pharmacy, medical centres, the hospital, fuel and much more.”

The property is listed with Lamonds Real Estate and is being marketed as a family home, weekend getaway, commercial opportunity or investment.

Article source: Queensland Property Investor

Singaporean magnate plans exclusive Gold Coast luxury apartments

Property magnate Ching Chiat Kwong, who leads Singaporean listed developer Oxley Holdings, is pursuing a post-pandemic side project on the Gold Coast, lodging plans for an ultra-luxury $150 million residential complex at Sovereign Islands.

The prestige property retreat, which lies in the Southport Broadwater, will be home to 10 high-end apartments along with a restaurant, wine bar, p√Ętisserie, wellness spa and luxury retail outlets.

Through Oxley, Mr Ching has a track record of developing both commercial property and mainstream market apartment towers from London to China. The Singaporean tycoon is also very familiar with Australia, after Oxley took over a Perth builder four years ago. As well, Mr Ching has been spending time in Melbourne this year to attend a lawsuit over the collapse of Newsat, in which he was a major investor.

But it was Mr Ching’s experience of pandemic lockdowns that prompted a wide-ranging rethink on his life, the importance of a home and on what sort of legacy he wanted to leave, the Oxley executive chairman tycoon said.

And it is why his plans for the patch of land he acquired on the Gold Coast location about nine years ago also changed, switching from the well-trodden developer route of maximising the number of apartments built to achieve the best profit, to scaling the project back to just 10 ultra-luxurious residences.

Sovereign Islands is a personal project,” Mr Ching told The Australian Financial Review during a recent visit to Melbourne.

“This is my pet project. One of the things I haven’t done together with Oxley is a super luxurious type of development. I want to try to do that. Australia’s Sovereign Islands has given me the opportunity because it is my own affair.

“I want to see how far I can go with my own experience and foresight.”

[TAG0]
The Sovereign Island apartments include access to a super yacht-sized marina berths.

Oxley itself has launched 51 projects since listing in 2010: from the massive Royal Wharf mixed use development in London and the Dublin Landings office development in Dublin, to a host of apartment projects in Singapore and the Oxley Towers, hotel and office development in Kuala Lumpur.

In comparison, the Sovereign Islands project, which will get under way early next year, will be very boutique.

“Every phase in your life there must be a favourite, that something that you try, that you really want to do before it’s too late, before you lose your momentum, and before you lose your motivation,” Mr Ching said.

The level of luxury and ocean views at the Sovereign Islands development have already found favour with Mr Ching’s network of high-net worth individuals, which stretches from London to Japan, he said.

Four of the residences, priced between $20 million to $25 million, will be three-storey so-called “water pavilions” encompassing more 1,000 square metres, rooftop entertainment and pool decks, each with standalone access.

The six other residences – three of 350 sq m and three of 550 sq m – will range in prices between $6-$8 million.

The development is based around two three-storey buildings. Less than a short walk is the marina, where residents will have access to the super-yacht-sized berths.

The development’s design itself is loosely based on the billowing forms of boat sails and the shape of a super yacht, a reference to the Gold Coast’s beach and yachting culture.

“The pandemic changed a lot of people, including myself. I thought I better do something I really want to do. What are the things I really want to do in my life? One of them is to actually do luxurious apartments with the resources I have such as this beautiful land facing the Pacific Ocean.”

Article source: Queensland Property Investor

Friday 13 October 2023

How Can You Make Your Property Safer?

Your property is your castle, and you want to keep it safe from intruders. But what are some practical ways to make your property more secure? In this blog post, we’ll explore some actionable tips to help fortify your home or business. Read on to learn more!

Keep Your Doors And Windows Locked At All Times

When it comes to security, one of the simplest yet most effective steps you can take is to always keep your property’s doors and windows locked. This acts as a deterrent for potential intruders, making your property less appealing than ones with weaker security measures in place. If you feel like additional security is necessary, and you are located in Australia, consider installing a deadlock, which is a more secure lock for your doors. Make sure to consult with security door specialists in Perth—they have the expertise and know—how to give your security a boost. Ultimately, there’s no substitute for persistent vigilance when it comes to protecting yourself and your home from harm.

Keep Your Property Well-Lit, Both Inside And Out

Good lighting is essential for keeping your property safe and secure. Effective exterior lighting deters ill-intentioned individuals and acts as a beacon of safety should you fall victim to a crime. Inside, proper lighting serves many practical purposes such as making it easier to see your living space and to find items that may otherwise be lost in the darkness. An often-overlooked benefit is that interior lights can make it easier for neighbors or law enforcement to recognize any irregularities inside your home that could indicate an unwelcome presence. Make sure to keep in mind how far the illumination from each light source reaches – invest in higher-quality fixtures for added assurance and peace of mind!

Install Security Cameras And/Or An Alarm system

Enhancing the security of your property is a smart, proactive step that can go a long way in protecting your home and family. One of the best ways to do this is by installing security cameras and/or an alarm system. Security cameras can help police identify perpetrators of crime and can deter anyone from entering your home uninvited at all hours. An alarm system also helps prevent unauthorized access and can alert authorities when it’s triggered. Both security camera systems and alarm systems are excellent choices for safeguarding what matters most—your family’s safety and peace of mind.

Don’t Leave Valuables In Plain Sight

A major key to protecting your property from theft or burglary is to minimize the items that are visible from outside windows and doors. Valuables such as jewelry, computers, expensive artwork, collectibles, and other items should not be left out in plain sight. Instead of displaying these items, put them inside locked drawers or cabinets where they won’t be easily seen by potential burglars. If something must be left out in the open, such as an expensive piece of furniture or a family heirloom, make sure it’s well protected with a security alarm system and/or window bars. Taking the time to secure any valuables within the home makes all the difference in keeping you and your belongings safe over time.

Get To Know Your Neighbors

Knowing and having a relationship with your neighbors is one of the most important steps to ensuring the safety of your property and neighborhood. With that in mind, it’s important to put in the effort to cultivate meaningful relationships with your neighbors. Get to know each other, and exchange contact information so you can easily keep in touch, and watch over one another. It doesn’t have to be complicated – something as simple as introducing yourself when you see them outside or attending community events together can go a long way toward promoting solidarity among neighbors!

[TAG0]

Taking the time to take these precautions is a wise decision that will go a long way toward keeping you, your loved ones, and your belongings safe from those who might harm you. It is also important to stay vigilant and remain aware of general safety measures so that you can act fast in the face of any threats. Finally, it is always beneficial to work with local law enforcement if you feel uneasy or believe that something is off; security begins with community cooperation. Jane Friedman encourages everyone to follow these tips for maximum safety and peace of mind.

Pradella Revives Stalled Sherwood Masterplan

A sprawling suburban Brisbane masterplanned residential project stalled in the wake of the global financial crisis with half of its six stages completed is being revived.

Paused 14 years ago, reworked plans for the remainder of the Parklands at Sherwood estate in the city’s west have been filed by developer Pradella Group.

Spanning almost 8.5ha, the low-to-medium-density development sits on a former light industrial holding bounded by Sherwood Road, and Egmont and Thomas streets.

Across the completed first three stages, 93 homes have been delivered—comprising a mix of two-storey detached and attached housing as well as two-to-three-storey apartment buildings.

Close to half of the site is dedicated to public parkland.

Under the revised scheme for the final three stages, an additional 157 two and three-bedroom homes across four apartment buildings of three to five storeys and a cluster of 10 two-storey townhouses would be delivered.

The initial approval granted for the remaining undeveloped 2ha portion of the site was for 193 one, two and three-bedroom homes.

A planning report said Pradella’s masterplan review and the proposed changes lodged with the Brisbane City Council were aimed at meeting “current market needs and expectations”.

It said the updated proposal designed by architecture firm Rothelowman would cater for a range of household types and improve built form outcomes.

“The last development on the site [a three-storey block of 54 units] was completed in May 2009. Due to events including the global financial crisis of 2008 and the major flood of 2011, market conditions were not favourable for further development of the project.

[TAG0]

“However, with the increasing pressure for new housing in recent years, it is proposed to move forward with the remaining undeveloped stages 4 to 6.”

According to the report, the proposed changes provide “an opportunity to contemporise existing approvals and bring them to market within a short timeframe to contribute infill housing supply from a masterplanned site that has minimal impact upon existing residents and traditional housing areas”.

“Approval of the changes will allow detailed design to immediately commence and progress the delivery of additional housing choices including affordable housing supply in a location which is close to schools and services.”

It added: “Given the current housing crisis in the region, delivery of additional housing supply under existing approvals should be facilitated”.

Parking spaces for 334 cars and 199 bicycles would be provided under the new proposal.

An architectural design statement said the revised plans represented “a continuation and evolution of the masterplanned precinct”.

“The re-working of the design and masterplan seeks to reinforce and improve upon the existing approved design through revisiting the overarching intent for the site and the character of Sherwood as a whole,” it said.

“In doing so, the architecture of the buildings and alignment of the masterplan has been reinterpreted and altered to offer a stronger and more current approach to suburban, sub-tropical architecture in our city.

“The surrounding streets of Sherwood have a distinct character, defined by mature street trees and landscaping.

“A mix of Australian native and sub-tropical vegetation fills the streets with a patchwork of colour and texture. Towering figs, mature paperbarks and the distinctive crimson hue of bottlebrushes act as waypoints defining place.

“The proposed minor change seeks to draw from and build on this rich existing character, weaving it into the development as an integral element of the design.”

[TAG1]
▲ Parklands at Sherwood stalled in the wake of the GFC after 93 homes had been built. Source: Nearmap

Article source: Queensland Property Investor

This suburb has had the highest and fastest rental growth of anywhere in Australia

The Brisbane riverside suburb of Teneriffe has taken its place as the country’s most sought-after suburb in which to rent, with rents skyrocketing by almost 50 per cent over the past 12 months.

The latest Domain Rent Report shows Teneriffe’s median asking rent for a house is now at $963 a week, up 48.1 per cent year on year – the strongest annual growth of anywhere in the nation.

This was followed by houses in Glendalough in Perth at $585 a week, up 46.3 per cent; units in Hillsdale in NSW at $650 a week, up 44.4 per cent; and units in Ivanhoe East in Victoria at $580 a week, up 43.2 per cent. 

Kieran Kannan of Odyssey Property Concierge says he was not surprised by the growth experienced in Teneriffe, noting that the demand was simply driven by low supply.

“There’s just not enough stock,” he says. “People want to live in the area and are prepared to pay $200 more a week for an apartment here, whereas a replica apartment in another suburb would be $200 less. When things come on the market, people rush to secure it.”

For an apartment in Teneriffe, tenants can expect to pay $680 a week – up 18.3 per cent year-on-year.

Sarah Hackett of Place Estate Agents New Farm says the rental market is being driven by a younger demographic.

[TAG0]
801/38 Helen Street, Teneriffe QLD 4005

“There’s a lot of restaurants there and it’s accessible … a good lifestyle precinct, entertainment and even fitness facilities,” she says. “It’s the number one hotspot at the moment.”

Massive rental demand in Teneriffe is rippling out to neighbouring suburbs, pushing prices up in those areas too, agents say.

Houses in Fortitude Valley and Newstead, just minutes from Teneriffe, have a median asking rent of $670 a week, up 42.6 per cent, and $510 a week, up 2 per cent year-on-year, respectively.

In nearby New Farm, one of Brisbane’s most sought-after suburbs, the median asking rent for a house is $850 a week, up 20.6 per cent year-on-year.

“It’s a flow-on effect,” Hackett says. “Newstead, for example, will closely follow the trends in Teneriffe for rentals because it offers a similar lifestyle.

“Teneriffe, Newstead and New Farm have had major lifestyle upgrades so a lot of people want to live there.”

Many sellers have offloaded their investment properties to take advantage of the property boom, creating an even tighter rental market in Teneriffe and surrounding suburbs, she adds.

“Investors were getting money they didn’t think they’d get,” Hackett says. “About 20 per cent of our portfolio sold, and when you have 3000 properties to manage, that’s hundreds being put up for sale so there’s definitely been fewer properties available in the rental market.”

According to Pricefinder, Teneriffe’s median house price is $3.05 million, based on sales in the suburb in the last 12 months.

While Kannan believes rental prices will continue to increase, he expects a slowdown in the pace of growth.

“I don’t think it’ll increase at the same rate,” he says. “Teneriffe is a great place to live in for those who can afford to live there but I am conscious that a lot of people are priced out of these lifestyle suburbs.

“It’s great for investors, [but] tenants are being pushed further out of this area because of rising rents. But Newstead has a few big developments going up and, given that’s a neighbouring suburb, I do think that’ll take some pressure off Teneriffe’s high rental prices.”

Article source: Queensland Property Investor

Thursday 12 October 2023

A Step-by-Step Guide to Partnering with Apartment Development Experts

he demand for apartment developments is on the rise, driven by factors such as urbanisation, changing lifestyles, and the growing need for affordable housing. If you’re considering embarking on an apartment development project, partnering with experienced experts in the field can be a game-changer. These professionals bring not only knowledge but also invaluable insights and connections that can make your project a success. In this step-by-step guide, we’ll walk you through the process of partnering with apartment development experts, from defining your project goals to evaluating and adjusting your strategies for future endeavours.

Define Your Project Goals

Before you dive into the world of apartment development, it’s essential to establish a clear understanding of your project’s goals. Ask yourself: What is the purpose of this development, and what are your objectives? Are you looking to create luxury apartments, affordable housing, or a mixed-use development? Consider location, target market, and any specific amenities or features you envision for the complex. Defining your project’s goals is the first critical step towards a successful partnership with development experts.

Research and Identify Potential Partners

Finding the right development experts is crucial for the success of your project. To find the right experts in apartment development, you’ll want to start by conducting thorough research within the real estate industry. Look for professionals or firms with a proven track record in apartment development, as this expertise can make a significant difference in the outcome of your project. Beyond qualifications, consider factors such as their past projects, reputation, and alignment with your project’s goals. Networking within the real estate community and seeking recommendations from trusted sources can help you discover partners who bring the experience and insight needed to bring your apartment development vision to life.

Initial Consultation and Needs Assessment

Once you’ve identified potential partners, schedule initial consultations to get to know them better and discuss your project’s needs. During these meetings, share your project goals, vision, and any specific requirements. Pay attention to how well the potential partners listen to your ideas and whether they demonstrate an understanding of your vision. Assess the compatibility of your values and objectives, as a shared vision can lay a strong foundation for a successful partnership.

Project Feasibility Analysis

A critical phase in the partnership process is conducting a feasibility analysis of your apartment development project. This involves a thorough examination of market trends, demand, and competition in the chosen location. Evaluate the financial projections, including the potential return on investment (ROI) and associated risks. A comprehensive feasibility study will help both you and your development experts make informed decisions and tailor the project to maximise its chances of success.

Legal and Contractual Considerations

Before moving forward, it’s essential to address the legal and contractual aspects of your partnership. This includes drafting and reviewing partnership agreements that outline each party’s responsibilities, obligations, and financial contributions. Ensure that you are in compliance with local zoning laws, building codes, and any other regulatory requirements. Negotiate terms, timelines, and milestones to provide a clear roadmap for the development process and protect the interests of all parties involved.

Design and Planning Phase

With the legal groundwork in place, the design and planning phases can begin. Collaborate with your development experts to create a detailed design for your apartment complex. This involves selecting architects, contractors, and other professionals who will bring your vision to life. Additionally, secure any necessary permits and approvals from local authorities to ensure that your project can proceed as planned.

Financing and Funding Strategies

Exploring financing options is a critical aspect of the partnership process. Determine how you will fund your apartment development project, whether through loans, investments, or a combination of sources. Develop a financial plan and budget that cover all aspects of the project, from construction costs to marketing and contingencies. Allocate funds strategically to ensure that the project stays on track financially.

Construction and Development

Once financing is secured and plans are in place, the construction and development phases can commence. During this stage, it’s crucial to oversee the construction process to ensure that it aligns with the approved design, quality standards, and safety measures. Keeping a close eye on construction timelines and budgets is essential to avoid delays and cost overruns.

Marketing and Pre-Leasing

As your apartment complex nears completion, it’s time to shift your focus to marketing and pre-leasing efforts. Develop a comprehensive marketing strategy that highlights the unique features and benefits of your apartments. Engage with potential tenants through digital marketing, advertising, and property management tools. Pre-leasing efforts can help you secure tenants well before the complex is ready for occupancy, ensuring a smooth transition into the post-construction phase.

Post-Construction Phase

With construction completed, it’s time to transition to the post-construction phase. Conduct thorough quality assurance checks and inspections to identify any issues that need to be addressed. Prepare for the grand opening and tenant move-in process, ensuring that all units are in optimal condition and ready for occupancy.

Property Management and Tenant Relations

Efficient property management is crucial to the long-term success of your apartment development. Implement property management practises that streamline operations, address tenant needs promptly, and ensure tenant satisfaction. Building strong tenant relations can lead to higher retention rates and positive word-of-mouth referrals, contributing to the overall success of your project.

Marketing and Lease Renewals

Ongoing marketing efforts are essential to maintaining a healthy occupancy rate in your apartment complex. Continuously promote your complex and leverage digital marketing strategies to attract new tenants. Additionally, develop strategies for lease renewals to retain existing tenants and minimise turnover. Monitor market trends and adjust rental rates as needed to remain competitive.

Evaluate and Adjust

Periodic evaluation of your apartment development project is vital to assess its performance and financial outcomes. Analyse key metrics such as occupancy rates, rental income, and expenses to gauge the project’s success. Identify areas for improvement and growth, and be prepared to adjust strategies and plans for future apartment developments based on the lessons learned.

Partnering with apartment development experts is a strategic approach to bringing your vision for an apartment complex to life. By following this step-by-step guide, you can navigate the complex process with confidence, from defining your project goals to evaluating its long-term success. Remember that each step in the partnership process requires careful planning, collaboration, and attention to detail. With the right expertise and a shared commitment to your project’s success, you can create apartment developments that not only meet the demands of today’s market but also offer enduring value for years to come.

Useful Advice On How To Design Your Outdoor Area

If you’re fortunate enough to possess an outdoor space at your residence, don’t let it go to waste. Instead, take advantage of it! Why not use it to unwind, host gatherings, or simply relish nature? By planning and designing, you can convert your outdoor area into a chic (and practical!) haven that everyone will appreciate. This article outlines several suggestions to assist you in getting started.

Plan for enough seating for everyone

Designing an outdoor area can be lots of fun! But the key to ensuring that it’s a success is making sure you have enough seating for everyone. After all, what’s the point of having a beautiful space if your guests don’t have anywhere comfortable to settle in? Investing in well-built furniture, such as benches, chairs, and sofas can provide a place for people to relax and converse with one another. The best outdoor entertaining area design ideas often feature plenty of seating options – with pieces made from wicker or teak designed to withstand any type of weather they face. With comfy and stylish seating options, your outdoor space will be the envy of all who enter.

Consider adding a fire pit

Designing your outdoor area doesn’t need to be a chore. Instead, imagine it as an opportunity to create something unique. One of the simplest and most effective pleasures of having an outdoor space is cozying up near a fire pit with family and friends. With it, you can gather around in the evening, perhaps with a few blankets against the chill, and make s’mores while talking and laughing into the night. Fire pits add charm and spirit to any outdoor area – consider adding one to yours!

Incorporate some greenery

Create an inviting atmosphere by incorporating some greenery. Whether it’s a couple of flowering plants that attract pollinators in your garden or a few leafy trees that provide shade, adding some type of live foliage can help make your outdoor area look like a cozy oasis. Even with a small space, you can still fill it with vegetation and liven up the surrounding area. Some other tips for creating an inviting outdoor area include bringing in wood furniture, stringing up white twinkle lights, and installing a fire pit. You can turn your outdoor space into the perfect refuge with creativity and imagination.

Add lighting

Incorporating lighting into your outdoor space can dramatically enhance its functionality and usefulness. It’s a small change that will significantly impact anyone wanting to utilize their outdoor area after sundown. Plenty of lighting options are both stylish and practical, plus you don’t have to break the bank to create the perfect setup. Whatever kind of atmosphere you’re going for outside — whether it be slow and intimate, friendly and fun, or lively and vibrant — a few lights will help bring your vision to life. Every time you look at your beautiful space lit up at night, you’ll be glad you made this easy but necessary addition.

[TAG0]

Transforming your backyard into a relaxing oasis doesn’t have to be a difficult or costly endeavor. With a bit of imagination and the appropriate accessories, you can create an ideal outdoor retreat for any occasion – whether it’s a low-key gathering or a grand celebration. Your backyard will undoubtedly become the talk of the town in no time! So, if you’re prepared to begin transforming your outdoor area into a haven that everyone will enjoy, follow these basic steps and start today. Best of luck!

QLD island property listed for less than house in parts of Logan

This spectacular island property off Far North Queensland has two houses, a beach hut and views to rival the Maldives. But this one w...