Developer Stakes New Claim in Greenfield Hotspot

Perth-based developer Peet has staked another claim in Melbourne’s blue-chip greenfield corridor, fending off a fierce line-up of bidders for the balance of an existing estate landholding.

It has purchased a 26ha permit-approved chunk of Greencor Developments’ Mystique Estate at Wollert, in the city’s northern residential growth belt.

Peet was among a highly-competitive field of developers circling the holding in Victoria’s greenfield hotspot.

The site is surrounded by other large masterplanned communities including Cedar Woods’ “Mason Quarter”, Dahua’s “Wollert Rise”, Bauenort’s “FindonView Estate” and AV Jennings’ “Lyndarum North”.

It is expected to yield 300 lots—more than half of the 550 lots in the actively trading Mystique Estate in which 250 lots have already sold, constructed and settled.

Marketing agent Kane Malcolmson from Core Projects said the transaction of the 25.75ha holding reflects and underpins the current strength of the Victorian greenfield land market.

He said the off-market expressions of interest campaign resulted in 15 formal offers being put on the negotiating table.

“The property attracted a strong mix of Australian and off-shore interest from developers relishing the opportunity to purchase an established and trading estate within the highly sought-after Wollert precinct,” Malcolmson said.

“It was extremely well contested under very competitive conditions. Peet Limited will deliver a fantastic project across the balance of 300 lots.”

Low interest rates and government stimulus packages have underpinned the strong demand for house and land sites over the past 12 months.

Victorians accounted for 29 per cent of all HomeBuilder applications with close to 30,000 new build applications.

Melbourne’s growth corridors in the north and west were earmarked for an additional 284,000 dwellings in Melbourne’s Urban Growth Boundary.

Cedar Woods, another Perth-based developer, recently bolstered its land supply in Melbourne’s western growth corridor, acquiring 54-hectares for $63.5 million.

The two separate transactions were for a 14.6ha site at Fraser Rise ($30.5 million) and a 39.7ha site at Fieldstone ($33 million), adding a further 725 lots to its pipeline.

 

Article Source: www.theurbandeveloper.com

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Brookfield Bumps Up Hamilton Northshore Offering

Brookfield Residential Properties is planning another tower in Northshore Hamilton near the site of the Brisbane 2032 Olympic Athletes’ Village.

Six two-storey townhouses and 186 apartments are planned for building 19 on Macarthur Avenue, Hamilton. Childcare, office, retail offerings and a tourist facility are slated for the building’s commercial floorspace.

The Cottee Parker-designed 16-storey tower sits atop a four-storey podium and recreation deck on the 3384sq m site currently home to the Brisbane Cruise Terminal Building.

▲ The latest Brookfield tower planned for Northshore Hamilton and the current developments under way. Image: Cottee Parker 

Brookfield has won approval for more than 1000 apartments in the area including the recently-completed building 16 A-B Gallery House, approved 18 Olandia and launched 17 Rivello.

Other developments in the area include Wentworth Equities triple-tower development at 19 Hercules Street and towers surrounding the Portside Wharf open mall.

The Hamilton Northshore priority development area will eventually encompass 304-hectares along the Brisbane River.

▲ A first look of the Brisbane 2032 Olympic Athletes Village located around Eat Street along the river. 

The region currently used for commercial warehouses and parking will also soon be home to the Olympic athletes’ village which will house 10,000 athletes and team officials.

The athletes village will be located further east towards the 2017 developed Eat Street Northshore shipping container hospitality site.

After the games the precinct would be converted to accommodate residential offering, including aged care, retirement living, social and affordable housing, key worker, hotel, build-to-rent and market accommodation.

The area is expected to generate $500 million in private sector investment.

 

Article Source: www.theurbandeveloper.com

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Aria Property Group: Check out the team behind Trellis and their award-winning track record

Brisbane-based Aria Property Group has consistently delivered not only popular developments, but those recognized officially as best-in-show for quality across Queensland and all of Australia

Brisbane-based Aria Property Group has consistently delivered not only popular developments, but those recognized officially as best-in-show for quality across Queensland and all of Australia by the UDIA, HIA, PCA, AIA and more.

Aria Property Group founder and managing director Tim Forrester said that since its inception in 2003, Aria’s vision has been to create iconic residential and retail projects that we will be proud to walk our families past in 20 years’ time. Aria take great pride in the unique character, creativity and longevity of our projects and the leading role they play in the communities in which they reside.

They consistently work hand in hand with some of Australia’s most decorated architects and interior designers recognising the need for top-of-the line expertise in every part of a development.

For three years, through 2017, 2018 and 2019, Aria was recognised by the UDIA as the Best High Density Developer in Australia. They have an even stronger track record in Queensland, awarded Best in Queensland in 2020, 2019, 2018, 2017, 2016, 2015, 2013, 2012 and 2009.

Some of their most decorated developments include Oxley + Stirling Residences which won 11 awards across a sweeping range of categories. The South Brisbane apartment tower where residents get free bicycles, newspapers and yoga classes was created in collaboration with the decorated team at Elenberg Fraser.

A recent example of their success is the winning of two awards at the 2021 QLD Master Builders Award for its West End apartment development, Tree House. Tree House, designed by Rothelowman, won the overall 2021 QLD Master Builders Award for Residential (Regional), as well as the award for residential high-rise building over $20 million.

Their latest project is Trellis, billed as their most sustainable development to date. Filled with, as one might expect trellises, Aria’s sustainable efforts extend to more than just a green thumb.

Trellis 20 Edmondstone Street, South Brisbane QLD 4101 

The four key areas of focus for Trellis’s sustainability initiatives include landscaping and greenery, electricity, water and the apartments themselves, all with the goal of putting their best environmentally friendly foot forward, as has been a growing trend across their recent developments.

Aria has aimed to offset 100% of common area electricity costs, reducing reliance on air-conditioning, incorporating 60,000L of rainwater tanks and more like Tesla battery and wall charging.

All 110 of the two and three bedroom apartments in the 12 story building are have been designed by Rothelowman.

The 20 Edmondstone Street apartment building is home to more than 1,100 sqm of community amenity across the Residents’ Rooftop Club on level 13 and the Temple of Wellness on the ground floor.

Set for completion in mid-2023, construction will be undertaken by the team at McNab Construction.

As the latest in their line of South Brisbane developments, Trellis takes inspiration from wide open spaces used in previous developments with a sweeping 590 sqm lobby and three metre high ceilings in the apartments themselves.

 

Article Source: www.urban.com.au

 

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Melbourne developer Goldfields take first step in to Brisbane

The Melbourne-based developer, Goldfields, are expanding in to Brisbane.

Their first project, a joint venture with Icon Development Australia, will be in Milton, the riverside suburb in the inner western ring of the city. They’ve submitted plans for a 20-level tower designed by Rothelowman at 29-35 Manning Street, a combination of the two lots totalling 3,511 sqm.

Goldfields Chief Executive, Lachlan Thompson, told Urban that the time was right to go in to the Brisbane apartment market.

“As a national property developer, we are constantly looking for areas that offer strong development potential and we were impressed with Milton’s amenity and connectivity to all things lifestyle related,” Thompson said.

“We are of the strong opinion that Milton, as a suburb, is on the cusp of significant capital value growth due to limited supply and its proximity to the bustling Park Street retail strip.

The 20-level tower draped in landscaping. Image credit: Rothelowman 

Rothelowman say the proposed 131-apartment building is a homage to the vernacular intelligence of the traditional Queensland Home.

“The Queensland Home, with its wide verandahs and eaves, is a perfectly adapted architectural response to the local climate,” Rothelowman advised in their plans submitted to the Brisbane City Council.

“Our approach aims to capture the open friendliness of the traditional Queensland Home, a characteristic born of the warmer regions of Australia.

“It is aiming to reflect and acknowledge the semi-outdoor lifestyle, a unique expression of the way people have adapted to their environment.”

Oriented to maximise the eastern aspect and minimise north-west exposure, the building responds directly to its immediate urban context, while also celebrating the views of Brisbane CBD and the Brisbane River.

There will be 14 one-bedroom apartments, 91 two-beds, 16 with a multipurpose room, 18 three-bedroom apartments and eight four-bedders, located across the top two levels.

The tower’s floor plate maximises both the eastern and southern aspect, river and city views from the apartments.

The building will be crowned with Sky Terrace, a generous recreational space for residents featuring a swimming pool, outdoor kitchen and dining area.

Landscaping is a big feature, with FORME Landscape Architects installing vertical greenery on the podium and on the rooftop.

Thompson says the apartments will appeal to young professional in particular.

“This includes the “three day a week owner occupiers” that split their time between the Sunshine Coast and inner-city Brisbane, but don’t want to compromise on quality or safety, as well as strategic investors,” Thompson said.

Goldfields entered the Queensland market four years ago with a $350 million, 1,000 lot master-planned community in Ripley, in Ipswich.

Next the company will be announcing a mixed-use acquisition in East Elimbah that will, in time, deliver over a billion-dollar multi sector development.

“We have been hungry to grow and further diversify our presence here with built-form opportunities within the inner suburbs of Brisbane,” Thompson said.

As we continue to build our Queensland portfolio, we are considering a number of development opportunities from Brisbane to the Sunshine Coast and look forward to making further announcements in the near future.”

Goldfields also have a presence in Sydney, having recently launched The Livingstone, a collection of townhouses in Sydney’s affluent Pymble.

 

Article Source: www.urban.com.au

 

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Plans Lodged for 33-Storey Broadbeach Tower

A developer has lodged plans for a 33-storey residential development in Broadbeach as the Gold Coast’s red-hot apartment market continues to outstrip supply.

The 46-apartment project, planned for a 670sq m site on the corner of First Avenue and Surf Parade—two streets back from the beach, has been put forward by 14 First Avenue Pty Ltd.

The entity is headed up by Gold Coast-based developer Leonard Steiner and joint venture partner Dimitri Katsimberis, a Sydney-based investor.

The high-rise apartment complex, called Myst, will replace an existing low-rise apartment block comprising eight units.

The Plus Architecture-designed development will be targeted at the local owner-occupier market.

The tower will offer two apartments per floor in three-bedroom configurations. It will be topped with a four-bedroom penthouse featuring a private rooftop area and pool.

There will also be three sub-penthouses above a residents lounge on level 27, offering a private dining and function room, meeting rooms and work pods for those needing more space while working from home.

A wellness centre and communal pool are also planned between level four and five.

The Urban Developer approached the project’s directors who declined to comment on the development at this early stage.

▲ The project will feature a two level podium housing 20 car park spaces as well as spaces within the building’s basement. Image: Plus Architecture 

The developer joins a host of interstate property groups currently sweeping up sites on the Gold Coast as they look to take advantage of rising demand for new apartments and a looming under-supply of stock.

Record sales of new apartments, especially larger residences, have been driven by demand from downsizing owner-occupiers and interstate buyers taking advantage of the shift to work-from-home.

Developers have also been buoyed by state government forecasts that suggest the Gold Coast could now attract up to 15,000 people per annum.

To meet the demand, the city is expected to need 6300 dwellings a year.

Across the city, there are currently more than 50 residential projects with an estimated investment value of $4.8 billion under construction and with firm pipeline commitments.

Broadbeach is now among the Gold Coast’s biggest development hot spots, led by the $2-billion masterplan for The Star Gold Coast casino site and the $670-million expansion of Pacific Fair.

Also at Broadbeach, Brisbane-based developer Turrisi Properties has similarly scaled plans for a $100-million, 22-storey residential development at 9-11 Armrick Avenue before the council.

Sydney developer Macquarie Developments Group has paid about $4.5 million for a 1200sq m corner block at 15 Rosewood Avenue, which sold with a permit for 186 apartments over 39 levels.

Broadbeach Luxe Development, headed by director John Kubatov, has recently launched its six-star, $160-million residential project at 2 Charles Avenue, comprising 28 apartments.

Iris Capital, which generates revenue of $500 million a year from a $3-billion real estate portfolio, has also joined the Gold Coast property rush, lodging plans for a $800-million, two-tower project at Broadbeach’s Niecon Plaza site.

Iris Capital’s project will comprise a total of 333 apartments across its 30-level and 40-level towers, both topped with two sub-penthouses and a penthouse.

 

Article Source: www.theurbandeveloper.com

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The Gold Coast economy is set to prosper with positive property outlook

Colliers International Gold Coast Snapshot has revealed the city will hit the one million population milestone within the next 30 years, underpinned by the internal migration seen throughout the pandemic and more than 50 residential projects currently in the works.

The announcement:

The Gold Coast’s strengthening economic resilience and solid growth as the preferred destination for Australia’s “internal migrants” is expected to underpin a positive long-term outlook for its property sector, according to new research.

Across the city, there are currently more than 50 residential projects with an estimated investment value of $4.8 billion under construction and with firm pipeline commitments. “Affordability, lifestyle and high-quality health and education services have consolidated the region as the preferred destination for net interstate migration across Australia over the past year,” the report states.The latest Colliers International Gold Coast Snapshot, despite the impact of the COVID-19 pandemic, the city is still on track to hit the one million population milestone within the next 30 years.

“The COVID-19 pandemic has had a negative impact on business activity, particularly for businesses operating in the sectors of tourism and international education, however other sectors have thrived including logistics and the housing market.

“Whilst the Gold Coast economy has not been immune to the current economic uncertainty, the long-term regional economic fundamentals are expected to underpin a positive long-term outlook for property investors.”

Steven King, Director in Charge at Colliers Gold Coast, says the research underpins the strength of the Gold Coast economy despite the challenges posed by Covid.

“Obviously certain sectors have struggled such as tourism but the data shows that the city is not only enduring under the weight of these challenges but forecast to perform very well when things get back to normal,” said Mr King.

“The infrastructure and development pipeline and population forecasts outlined in the data paint a very positive long term picture for the Gold Coast.”

The Snapshot indicates forecast investment in major infrastructure projects totalling $5.2 billion will significantly facilitate the recovery and growth of Australia’s sixth biggest city.

“The forecast investment in large infrastructure projects is equivalent to about 13.6 per cent of the GRP (Gross Regional Product),” it states.

Among the major projects it cites are Pacific View Estate ($3.2 billion), Coomera Connector ($1.5 billion), Light Rail Stage 3 to Burleigh Heads ($1.04 billion), M1 Pacific Motorway Upgrade Varsity Lakes to Tugun ($1.03 billion), Queen Street Village Southport ($500 million) and the Star Casino Expansion ($345 million).

According to the Snapshot, the Gold Coast’s increasing resilience is also evident in the latest employment figures, which show its employed ranks now total 371,100 persons — an historic record level in the region.

“The Gold Coast has historically been able to create job opportunities for the growing population,” it states.

“Despite the challenges imposed by the pandemic, the regional employment market has recovered quickly with the unemployment rate contracting from the peak of 8.9 per cent in July 2020 to 3.9 per cent in May 2021.”

Construction employment remains very relevant for the region and has been boosted by the HomeBuilder program implemented to support the recovery of the national economy.

Tourism, which has consistently been a major industry in the Gold Coast, has been negatively impacted by the pandemic since March 2020.

But despite the challenges, an annual economic injection from domestic tourism activity of $2.4 billion was estimated for the year-on-year to March 2021.

 

Article Source: eliteagent.com

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Super a great way to invest as you near retirement

A relation aged 25 is earning $150,000 a year in a construction job. He and his partner will be paying for a new house-and-land package next year. He asked me if he should be salary sacrificing to save tax. I told him I did not think that was wise in light of his proposed house purchase and all the costs associated with that. Your often mention salary sacrificing to superannuation rather than paying off a home loan, but am I correct in thinking this would only be applicable to somebody approaching retirement?

You are spot on. It would be crazy to be piling money into super at such a young age when they are planning to buy a house in the foreseeable future.

In any event, salary sacrifice into super is not a massive tax saver in his situation. His employer should already be paying $15,000 a year into super, which leaves only $12,500 available to be salary sacrificed.

The sum of $12,500 in his pay packet would lose tax of $4937, whereas money contributed to super would lose $1875. The tax saving of $3062 is relatively small.

It is a different matter entirely for someone aged 50 or more who wants to pour money into super, to make sure they retire with no mortgage.

My partner and I live in Melbourne and bought a house on the south coast of NSW for my daughter to live in, and for us to use for holidays. She owns 40 per cent of the house and we own 30 per cent each. I plan to leave my 30 per cent to my daughter in my will and my partner plans to leave his 30 per cent to his daughter. Will my daughter need to pay Capital Gains Tax (CGT) when I die? Would it be better to transfer my share to her before I die?

If you give it to her now, you would be liable for CGT.

However, if you leave your share to her in your will, no CGT would be payable and until she disposes of the property. This could be many years in the future.

Furthermore, provided the property continues to be her principal place of residence, the impact of CGT should reduce over time.

Your daughter should be thinking about ways to buy out your husband’s share, because the situation could be unsatisfactory if he dies and 30 per cent of the property is then owned by somebody else.

I am aged 60 and work full-time. I am trying to plan my finances for retirement in six years. I have recently come into an inheritance of $170,000 and am in a quandary as to where to invest it. I would like to be able to grow the funds but also to be able to access the money relatively easily after my retirement. The money is for travel and possible small renovations, as my husband’s defined-benefit super scheme generates payments of $2415 per fortnight, which covers our living expenses. We own our home and have a $300,000 mortgage on an investment property, valued at $850,000. I am thinking about either buying and renting another property – although would need to get a large loan – or perhaps buying shares or putting the money into my super, which is now just $60,000. I am also not sure about the tax implications of shares vs super. I welcome your comments on how best to invest the money.

I do not think taking out a large loan at your age is wise.

Super is the perfect place for you to invest the money, as accessibility would not not be an issue.

You have turned 60, which means you can withdraw money from your fund as soon as you retire from your job, or at age 65 – whichever is earliest.

The money could be contributed as a non-concessional contribution and there would be no tax on it or on any withdrawals.

Keep in mind that shares are a type of asset, whereas super is a vehicle that lets you hold assets in a low-tax area.

You could have each way bet by having your money in super, with a large part of the selected fund asset mix in shares.

I have been reading with interest your comments on what happens if a couple are on the age pension and one of them dies, leaving the surviving spouse over the single asset cut-off means test of just $593,000. Does replacing worn carpets and blinds come under allowable ways of spending money on renovations?

Yes, there are a number of allowable ways for a pensioner to spend money. These include renovations, replacing household items and travel.

• Advice given in this article is general in nature and is not intended to influence readers’ decisions about investing or financial products. They should always seek their own professional advice that takes into account their own personal circumstances before making any financial decisions. 

 

Article Source: www.brisbanetimes.com.au

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