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I just love my job and sometimes it feels like the universe is aligning with me.
This seemed to happen the other day when I was delivered an awesome development site right into the palms of my hands.
Not only did no one else know about this land but I'd been focussed on securing a site in this very location for some time. It's a great suburb on the east side of Maitland, one of the large cities of the Hunter that we develop in. This city has experienced the highest population growth of any inland city of New South Wales and is earmarked for more growth with a new major hospital and $350 million upgrade to the local shopping centre in the pipeline to name just two of the infrastructure upgrades happening in this location.
Today, I thought I'd share how we 'attract' a development site.  For those not too sure about the Law of Attraction, I have to admit that whilst it's nice to be all 'spiritual' around this, it is actually the result of years of hard work setting up contacts and developing almost 100 properties over the past 12 years.  But I'm happy to credit the universe too.
So here's what happened: The phone rings, it's one of my builders, let's call him 'Bob'.
"Jo, I've just heard about a good dual occupancy site coming up" Bob tells me. My ears prick, "Fabulous, tell me more please" and Bob my wonderful builder went on to share the location and address. He'd recently constructed a duplex in the same street and so he knew it well. He'd had a chat with the owner and they mentioned they were thinking of selling and explained which agent they were going to list with. 
This land is over 1,000 square metres and will nicely fit two freestanding, three bedroom, two bathroom homes with double garages. We will subdivide by way of Torrens tile.  There will be good yard space and being able to build freestanding dwellings with Torrens title and double garaging will add more to the end values.
As we talk, I jot down the agent's name and ask more details about the project he recently completed. "What were the build costs?" I asked Bob. Once I knew these, I added in a margin for the additional costs to build freestanding and upgrades that we generally add to our developments.
Before I had said goodbye and hung up the phone, I had a good idea of what this dual occupancy project would cost and the amount of equity we were likely to create. I'd been tracking sales in this location and knew of two very recent comparable sales that would support the estimated end values.
I rang the agent and he gave me more details on the land and promised to email me the contract so I could check the sewer diagram, survey, 88B Instrument, planning certificate and make more enquiries.
I pulled the land up on one of my online platforms that shows me high resolution imaging of the land - much better than Google Earth and more recent satellite images. What's more I can add labels such as lot and deposited plan (DP) numbers to the images and include the lot boundaries so I can get an idea of the shape and estimate boundaries (which helps when there is no survey of the land available).  These tools we happily share with our clients so they can also learn and take advantage of what we've set up.
After viewing the land from outer space and my computer, I will now go and physically inspect it. I'll get an idea of the fall on the land and drainage pits and services available. I can measure the boundaries and get an idea of where I will position the dwellings on the lot. I'll drive around and see the type of housing already built in the area and the community facilities and public transport available and in close proximity. All this will help me determine the rental returns and again confirm estimated end values. I'll check the recently sold properties that we will base our estimates on.
All this information will be delivered to our client who has already signed up with us. Our job is to present every development site we locate and our client has a choice of projects. These are presented in a detailed report and analysis on the development project. If they like what they see, and after getting clearance from their accountant and lender, we will move to make an offer on the land before it even hits the open market next week. 
I can't wait to walk all over this site and take a million photos and while I'm there I'll let the universe - and my builder - know just how much we appreciate them.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

How to attract a great development site: Jo Chivers

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This Sunday we celebrate International Women's Day and the theme this year is MAKE IT HAPPEN.
What a great theme. Yes, us ladies really need to make things happen for ourselves and for our families.
As women today, we are responsible for our own financial freedom but also we are role models to our children, teaching them the concept of being entrepreneurial and to invest early. Unfortunately, this is still not taught in school.
I wish I'd learnt to be an entrepreneur at school and wished I'd started on my property investment journey earlier than I did. I now clearly understand that time in the market is such a valuable thing. Property investing is not a short-term investment, although you can make some relatively quick gains by using development strategies to add value, by holding you avoid the exit costs.  If you hold property for the longer term - 10 years plus, you really see the results.
The start of my investment property journey coincides with the birth of my first son. He's turning 14 this year so it's easy to remember when I started to invest. My then husband and I had purchased the family home a good time before this and reaped the rewards of capital growth that a beach side suburb bought.
But it was my will to MAKE IT HAPPEN that started our investment portfolio. I wanted to plan for the future now we had a child on the way and I didn't want to depend on a pension in retirement like my parents had to.
When I was pregnant and after reading the famous book Rich Dad, Poor Dad by Robert Kyosaki,  I embarked on an intense property investment course because I wanted to become financially and property literate. I wanted to learn as much as I could so that I could make wise investment decisions rather than trust others with our money. I did this on my weekends and at night whilst I worked full time.
Just before my first son was born after much due diligence, I took a risk and purchased an off the plan property. Not long after my son was born, the completed property made me over $150,000 in less than a year and so my property investment journey began on a high note. I went on to buy, hold and add value to five more properties before my son turned five.
Whilst investing and being a mum, I found a way not to return to the gruelling corporate world by establishing my property development project management business; Property Bloom.
In 12 years we've developed exactly 92 properties for our clients.
I have worked hard and MADE IT HAPPEN. By the time my second son arrived seven years ago my business was established and I was doing what I loved.  Working in my own business gave me the flexibility to be with my kids when I needed and wanted to and to attend the school assemblies, special presentations and coach their soccer teams.
For me MAKING IT HAPPEN means that I am in a great place doing what I love for wonderful people that appreciate the guidance we can give through the property development process.  It also means having choices.
One thing that drove me on my journey of MAKING IT HAPPEN and to keep working whilst raising my kids was the thought of taking time off work which would leave me financially dependent on my husband not only during that period but also into my retirement. There would be no contributions made during this time to my superannuation and how could I keep investing in property if I had no income? 
According to The Association of Superannuation Funds of Australia (ASFA):
<ul>
<li>Women retire, on average, with $112,000 in super savings – $92,000 less than men 
</li>
<li>One in three women will retire with no superannuation at all 
</li>
<li>Around 90% of women will retire with inadequate savings to fund a comfortable lifestyle in retirement.</li>
</ul>
What's astonishing is that if we want to retire at the age of 60 and we live about another 30 years which is becoming more feasible each day as the average life expectancy is rapidly rising - right now there is a massive spike in people living to one hundred.   We will actually need in excess of $2 million in our superannuation to support an annual income of $70,000.
We all have a lot of work to do to build up our super but women in particular are on the back foot because of the pay gap and because women tend to be the primary caregivers for their children. We also tend to care for our aged parents which may limit our earning capacity at that time as well.
The gender pay gap is actually decreasing and is lower now than it was in 1985!  According to <a href="https://www.propertyobserver.com.au/https://www.dca.org.au/News/News/IWD-2015---Are-Australia%E2%80%99s-working-women-heading-back-to-the-future-/456" target="_blank">the Diversity Council of Australia's figures</a>, full time adult ordinary time earnings for women were 17.8% less than men in 1985 – now they are 18.8% less than men.
So what can we do?  Start with asking your boss for a raise, whilst that may not get you that two million bucks in super now, it may give you more serviceability to borrow. By leverage our incomes we can buy more property to hold.  Don't forget to look for property that you can add value to by using smart development strategies.
Finally,  we need to stop waiting and MAKE IT HAPPEN now! Let me know if you need a hand.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Women, it's up to us to make our financial freedom happen: Jo Chivers

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I've been working with our builder on a new range of duplex plans.
We wanted to offer something different to each of our clients, so their duplex would have a point of difference in the market.
Firstly, to clarify, a duplex is two attached villas/units. A duplex can be single or double story. Property Bloom duplexes are predominately single story, three bedrooms, two bathrooms with single garages. We also build a lot of dual occupancy projects with two freestanding dwellings but today we are just talking about duplexes.
Our goal was to make each side of the duplex, each villa, appear separate from the street.  We don't want the 'mirror image' look that many standard duplexes have.
We started by looking at the exteriors of our duplexes. We use a mix of materials rather than just brickwork. We may render or paint the bricks in sections and add some weatherboard or other cladding. Changing the exterior materials adds texture and interest.
We look at the roof design and try to steer away from a standard hip roof if possible. Adding a few gables will add interest to the roof. However, we did have an issue with one council as we couldn't allow any of the roof surface of one villa to drain to the other's side. This was to do with the subdivision drainage requirements, so always check this before getting too fancy with your roof design.
We may use roof tiles or colourbond roofing depending on the look we are wanting to achieve. Colourbond roofing offers a wider range of colour choices, roof tiles give a more traditional feel to the duplex and can be cheaper.
I like to try and make the front facades a little different too. Even though the villas will be attached, it's nice to give the main entrances privacy and by changing the size and shape of the front porches we can achieve a different look.
Another idea is to splint the garages, moving them, to the external sides of the duplex rather than attaching them at the garages. This then offers a double driveway which will be more expensive but gives the impression the villas are more separate than they actually are.
You can also look at locating one garage in the middle of the duplex, and the other to the side. Often service locations like gutter drains may determine the location of your laybacks and hence driveways.
Finally we use the soft landscaping to individualise the dwellings. It is amazing what a good landscape plan can do to enhance street appeal and style.
We take all the design elements into consideration when working on a new duplex project for our clients as well as the location and surrounding homes to ensure we are building the right dwelling for the area. Our aim is to also appeal to and attract the right tenants when it comes time renting them out. A good design can maximise the rent by making your project stand out from the rest.
<a href="https://propertybloom.com.au">www.propertybloom.com.au</a>
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How to make attached dwellings look separate: Jo Chivers

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With all the talk on the impact of the mining slow down, let's not forget the other strong Hunter industries that are quietly achieving and employing the locals: tourism, business conferences and wine production.
Property Bloom has been project managing property developments in the Hunter region for over 14 years now and my research began with a study on the local wine and tourism area and their contribution to the local economy. There's nothing like sipping on a chilled glass of Hunter Valley Semillon whilst studying economics!
As reported by the Hunter Valley Wine and Tourism Association: "The Hunter Valley is the oldest and most iconic wine region in Australia with a heritage of over 180 years. It is the most visited region in NSW after Sydney attracting 2.2 million overnight visitors per annum. The Hunter Valley is one of the key pillars of the NSW visitor economy. The total impact of the local tourism and wine industry is worth $520.6 million, generating over 2800 jobs."
Tourism in the Hunter Valley is benefiting from the massive industry of holding concerts in the vineyards. There's been an impressive array of high-profile performers that have played in the Hunter Valley over the past 10 years: Elton John, Lionel Ritchie, Burt Bacharach, Blondie, Neil Diamond, Crowded House, the Beach Boys, Leonard Cohen, Alicia Keys, Tom Jones and Fleetwood Mac.  If you want a bit of the action get up there to see legendary Swedish pop-rockers ROXETTE on the 28th of February, their special guests include Eurogliders, Dragan and Boom Crash Opera. These bands are straight out of my youth and Joyride was one of my first albums (I'm showing my age)!
When Elton John performed at two shows at the Hope Estate in 2011, it was one of the busiest weekends the region had seen. Thirty-two thousand people attended over the Saturday and Sunday.
A BA Market Surveys report, commissioned by Cessnock City Council and Hunter Valley Wine Country Tourism, showed accommodation over the Elton John weekend was at 99% capacity.
The average daily case sales from cellar doors rose from 41 to 122 across all wineries on that weekend.  The recently signed Chinese-Australian free-trade agreement is likely to boost the Hunter economy and wine exporters will benefit from reduced tariffs.
A separate BA Market Surveys report showed the 2009 Fleetwood Mac concert contributed $13.28 million to the local economy, not including ticket sales. Hope estimates the figure for the 2011 Elton John concerts at around $20 million.
The benefits flow through to other industries as a result of the concerts like the oyster farm in Port Stephens (also part of the Hunter Region) who provided four hundred dozen fresh oysters for picnic baskets. Supermarkets and other retailers in Cessnock see sales boosted by weekenders stocking up on their way to the vineyards.
While concert-goers lead to spikes in cellar door sales and accommodation bookings, so does the strong business tourism and large midweek conference industry. There is also the wedding and in-bound tourism markets that bring a lot of money into the region.
A new $6 million conference and event centre has just opened at the Crown Plaza and General Manager Robert Coates said: “The new Conference and Events Centre will position the Hunter Valley as a leading Australian conference and events destination. Offering guests the latest technology and a light-filled design in a state-of-the-art venue with a combined 2,000 square metres of pre-function, meeting and exhibition space coupled with a unique wine country destination. We have already received large scale group bookings for 2015 resulting in 20 percent growth in business events and many in the pipeline for 2016 – it looks set to be a very busy year for us.”
All these tourists need good roads to drive on and so the New South Wales government has just announced $16.7 million in 'Resources for Regions' funding to upgrade roads in the Hunter's wine country region.
The project, to upgrade Hermitage and Broke Roads, will see more than 12 kilometres of roadway rebuilt, improvements at intersections, new tourist signage and lighting.
The money will also fund construction of a new on-road cycleway connecting the Hunter Expressway and New England Highway with Broke Road.  Infrastructure upgrades such as road works brings contractors to town and they need to rent properties.  We've noticed an increase in demand for our granny flats and villas as single contractors (usually men) want small, low maintenance properties to rent. We have just completed a duplex which was leased immediately to tenants working in the tourism industry.
Understanding the current and future industries in the locations you choose to invest in property is very important.  Finding locations with industries that not only endure but recreate themselves is like finding gold.  The property market’s long-term performance is very closely tied to industry and employment opportunities and the more diverse the local economy the better.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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There's a lot more to the Hunter Valley's economy than mining: Jo Chivers

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When running your feasibility on a development project, it's important to make sure all costs are covered off.  There are set up costs, design costs, planning costs, construction costs, selling or leasing costs and of course, the dreaded holding costs.
You must calculate holding costs correctly. I've spoken to many novice property developers about their holding cost calculations. The most common mistake is to simply calculate the interest cost over the total cost of the project for the total time a project will take. 
This results in a gross over calculation of interest costs. In addition, they then don't take into consideration the tax benefits on the interest payments.
Admittedly, It's not an easy calculation because of the various timeframes and draw downs applicable over the life of the project. So I thought I'd put a case study together to demonstrate the holding costs on a dual occupancy project.
I was discussing this with my friend Shukri Barbara, who is a property tax specialist accountant at the aptly named <a href="https://www.propertytaxspecialists.com.au/" target="_blank">Property Tax Specialists</a>.
I asked Shukri if he would help me with a case study showing what the holding costs and the tax advantages on a typical dual occupancy project would be.
"The basic rule is that when an expense is incurred in earning income, it will be allowed as a deduction as long it is not capital in nature or private." Shukri said.
With this clarified, I gave him the details and assumptions for the case study. It is based on a dual occupancy development.
A property investor is buying as an 'individual' (i.e. not in a trust or company structure). The investor's taxable income is $95,000 per annum and she has purchased land that will be developed and once completed, be income producing.
Exchange on land took place on the 1st February 2015 using $5,000 deposit.
Settlement on the land occurs 1 May 2015.
The development will be completed 1 of December 2015 when tenants will move in.
Interest rate is 4.5%, and we assume the project will be 100% financed.
The land cost is $265,000 and stamp duty is $7,765 but after a NSW government grant it is reduced by $5,000 and is $2,765. Legal fees are $1,800.
The builder's contract is $460,000 and includes all costs relating to design, planning, subdivision and construction. 
The draw downs occur as follows:
<ul>
<li>1 April 2015 -  $5,000 deposit paid</li>
<li>1 Aug 2015 - slab down</li>
<li>15 Aug 2015 - Frames and trusses completed</li>
<li>15 Sept 2015 - Brickwork completed</li>
<li>1 Nov 2015 - Interior linings completed</li>
<li>1 Dec 2015 - Completion</li>
</ul>
Below is the builder's drawdown schedule:
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="272">
DESCRIPTION
</td>
<td valign="top" width="134">
PERCENTAGE
</td>
</tr>
<tr>
<td valign="top" width="272">
Deposit paid after concept plans agreed on
</td>
<td valign="top" width="134">
$5,000
</td>
</tr>
<tr>
<td valign="top" width="272">
Installation of concrete slab (less deposit paid)
</td>
<td valign="top" width="134">
20%
</td>
</tr>
<tr>
<td valign="top" width="272">
Erection of Timber Frame and Trusses
</td>
<td valign="top" width="134">
20%
</td>
</tr>
<tr>
<td valign="top" width="272">
Brickwork, Windows and Roof Coverings to Main Section
</td>
<td valign="top" width="134">
25%
</td>
</tr>
<tr>
<td valign="top" width="272">
Interior Linings and Mouldings
</td>
<td valign="top" width="134">
25%
</td>
</tr>
<tr>
<td valign="top" width="272">
Completion
</td>
<td valign="top" width="134">
10%
</td>
</tr>
</tbody></table>
I asked Shukri what the tax benefits on the interest holding costs may be.
He explained "Interest expenses incurred while constructing properties which will produce rental income will be allowed as a tax deduction in the year it is incurred.
In the case study provided, even though the construction won't be completed until the following tax year, the interest incurred in financing the land and any progress payment will be deductible. Also deductible will be any council and water rates.
Using the case study details, we have calculated the
<ul>
<li>Amount of interest which can be deducted and </li>
<li>Tax savings which can be obtained at the end of 2015 – assisting with cash flows.</li>
</ul>
So what were the results? 
Deductible interest expense for 2015 financial year is estimated at $2,015 with tax benefit of $786.
For the 2016 financial year, the deductible interest amount is estimated at $28,197 with tax savings estimated at $10,997
The total interest holding costs for the project is $18,429 for the eleven month period that the project will take to complete. 
This particular dual occupancy project was projected to create approximately $153,000 in equity. Even after the holding costs are deducted it's not a bad return for just under a year's work. What do you think?  
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Holding cost calculations and considerations: Jo Chivers

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Creating a system can be quite simple and helps you achieve more in less time.
Not too long ago I met with one of my builders.  The builder and I started working together when I introduced a particular type of development and in a short period of time we’d already completed five projects together. But I knew we could still fine tune our process.  He’d had some recent staff changes, so it was the perfect time to gently tell him exactly how I wanted my developments to run. 
Before the meeting I prepared a draft procedures document which was based on the way we had been doing things up until then.
But it wasn’t until I started documenting pretty much everything we did that I realised how much was involved in this somewhat basic development strategy.  What started in my mind as a one pager has turned into four. It’s funny how we simplify in our minds a process because we’ve done it time and time again.  But when you really break it down in writing, you can see all the fine details.
Using a system or procedure keeps me on track with our projects .I now literally have a written system for everything I do.  It gives me something tangible to show to my clients and helps explain exactly what I really do when managing their development.   It’s also an important tool to use when training new staff as they have a documented procedure to follow.  
By the end of the meeting with my builder, we had agreed on a three very important changes that impact the bottom line of all my developments:
<ol>
<li>We changed our standard floor plan slightly to make it more cost effective to build, without reducing the size. Now I could offer my clients a cheaper build price that will not impact on the end value or rental return.</li>
<li>We changed the payment schedule so my clients would pay less in the first half of the build phase, saving them valuable holding costs.</li>
<li>We minimised choice to save time. By setting up standard inclusions plus a list of ‘optional extras’ it meant that clients would not feel overwhelmed by choice on fittings, fixtures and colour selections and we could manage this process faster moving to the next step and saving time.</li>
</ol>
I put the new system into action immediately and we started getting more done, in less time.  As they say, time is money.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
This article previously appeared on Property Observer in June, 2014.
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Creating a system for your development process will save time and money: Jo Chivers

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There is always something to learn when it comes to property development and this week was no exception. 
My new lesson was to do with drainage and subdivision. We'd designed what I thought was a fabulous looking duplex (two attached dwellings).
My brief to our draftsperson was to make the duplex look exciting and interesting from the street, making sure each villa/unit whilst attached, has a different front façade.
This duplex was to be built in a premium estate and I really wanted to create the look that each villa was unique even though they will be attached. 
We came up with a great look using various gables to break up the roof line. This offered an interesting contrast to the usual large hip style roof commonly used on duplexes. Generally speaking, the more detail in the roof design, the more interesting but also the more expensive.
With our development application (DA) we were also applying for a two lot Torrens title subdivision.
We lodged out DA and it wasn't long before council came back with what we thought at first, to be a weird request.  Included with our DA a detailed stormwater design had been lodged showing a stormwater  drainage easement system to drain water from the roof.  
Here's what council said...
"The Development Control Plan (DCP) requires roof and gutter systems to be graded as such that each lot drains independently of each other. The current roof form does not meet this requirement. I note that the subdivision plan includes a Proposed Easement to drain roof water over whole of lot. The easement to burden the whole lot for roof and gutter drainage is not considered appropriate and each roof is to drain independently of the other lot. Council will require an amended roof design to this arrangement. A simpler Hip roof design should be considered."
Our surveyor responded by arguing that it should not matter given the appropriate easements were in place to drain the roof water adequately and that there have been recent presidents set where this has been approved by council.  
Council’s response was that it is still an issue and any previous approvals were in error.  We found this interesting as we'd just received a DA consent on a duplex with a similar, multi gabled roof design. When you consider that there is possibly a number of factors that determine where the water on any roof, even a simple hip roof, drains to wind factors being one.
My question was: In a case like this, shouldn't council weigh up the benefits of a better design and street appeal over pedanticism around water drainage?  Remember, our engineer's drainage plan met all requirements regarding water volume flow rates to the street.
So what were our options?  We could argue our point and draw out the planning process and perhaps even end up in the Land Environment Court.  This would add to holding costs not to mention court costs and added risk to the project. 
Or, we could design a simpler roof, resubmit plans to council the next day and have our DA approved quickly. The later would bring cost benefits to the project in time and in roof costs.
As project managers, we need to quickly assess what the best outcome may be for our clients, present it to them and keep the project moving forward. At the end of the day, the roof redesign was not a deal breaker and may not even add actual value in itself to the project. The savings we will make on a simpler roof design was more appealing to our clients.
<a href="https://www.properetybloom.com.au" target="_blank">www.properetybloom.com.au</a>
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Is a hip roof as groovy as it may seem?   

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Property developing can throw many different challenges at you and one thing I have learnt in this industry is there is always a solution to a problem.
The trick is to understand what possible problems may arise and preparing yourself for them. Unfortunately things don’t always go to plan and as a project manager it is up to us to make sure the development gets through as efficiently as possible.
One of the biggest areas for problems is not allowing enough for building works. 
When pricing a development and running feasibilities, it is important to understand that your building estimate is an organic creature. By this I mean the building estimate you start with will nearly always be different to the one you end with.  It will evolve throughout the process as you obtain more and more details.  Once you have all the fine details, the building estimate can be finalised to the fixed price builder’s tender. 
If architecturally designing our villas, we generally follow this process:
<ol>
<li>Concept plan – this will show the number and size of villas on the land, but not much detail. 
</li>
<li>Development application (DA) plans – enough information is included on the plans to satisfy council. 
</li>
<li>Construction certificate (CC) plans –more detail, including engineer drainage and slab design.</li>
</ol>
The starting point for our build estimate will be based on similar projects that we have recently completed and an allowance for the different site.
This progresses to an estimate based on the Concept Plan.  Still a very ‘loose’ estimate as there is usually not enough detail on the concept plan for the builder to have all information he needs.  The build estimate we have at this stage will tell us whether we are tracking within budget.  If not, we can make the necessary changes required, perhaps reducing the size of the villas working with both our builder and architect to design the right dwellings for our project to be successful.
Once the Concept Plan is approved, the architect will proceed to full DA plans.  It is here that much more detail is added and we will have our builder price the DA plans.  Again, this does not give us a final build cost but we will be getting closer to the expected outcome.  Once approved by our client, the DA plans are finalised and the DA is prepared.
During the DA process, council may request some changes to the plans, so it is important to understand we are still ‘evolving’ at this stage. We also need to review the Conditions of the DA Consent before we have more detail to finalise the build costs.
Once council have approved the DA, we will start to prepare the CC plans.  Engineers will be briefed and a drainage and engineered slab design or footings for the foundations will be produced. More detail is added to the CC plans, finalising levels and double checking schedules. 
Before we lodge the CC plans with our private certifier we will have our builder issue a third costing. It is this costing that will give us the final build costs...well almost.  We still need to have the CC approved and ensure there are no further revisions to the plans required.  
After we have the CC stamped plans, our builder will issue their final tender and building contract. This will be a fixed price contract; however, there may still be a few items that will be ‘provisional’. They are usually some site works, removal of fill and retaining walls.  The builder may mark these items as provisional as they won’t know until works proceed exactly what the cost is. For instance, if rock is hit during the site cut, this will increase the site costs. If the site cut differs slightly to the plans, this may impact on the height of retaining walls.  So these ‘provisional’ items will be charged at actual cost whether it is lower or higher.
So you can see how the build estimate must evolve through the development process and until your development is completed, you really won’t know the exact cost.  It’s important you allow a contingency amount for any variations that may crop up along the way. 
As a developer, you will embark on a challenging journey from start to finish and the path you choose can be simplified with the help of a project manager to guide you along the way.  Always take the time to have full builder’s estimates done at each stage to avoid any nasty surprises. 
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Making sure building costs don't push your property development over budget: Jo Chivers

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Hi Jo,

I am considering converting an existing block to dual occupancy.

I own the block (and house on it) outright. The block is 1,100 square meters in area.

The existing house is at one end of the block and dividing the block in half would still leave a meter between the existing house and a dividing fence.

The block is a corner block and there is provision for a second driveway in the other street.

The zoning in ACT almost precludes subdivision from most blocks. On the ACT Land map it actually has an address for both halves of the block, so my guess is that it was originally proposed and two blocks.

I have verbal approval to commence “the journey” from the ACT authorities.

But I have a question: Where to from here?

Regards,

Jeff

Australian Capital Territory

Hi Jeff,

It is interesting that there are already two driveways and street addresses, you may find there was a DA approved to subdivide at one stage, was not registered and may have lapsed. If so, then there may also be service connections.  It is worth making enquiries with council on this as it will save you money if some of the works have already been completed. 

If you were allowed to complete the subdivision of the land, including having it registered, this may save you paying a Section 94 Contribution that may be payable on a dual occupancy project. You can then build a new dwelling on the newly created lot without it impacting on the original house lot.

The best way forward for you is to use a local surveyor to manage the subdivision of your land. They will understand your local council's requirements.

You will need to allow for adequate private outdoor living space for the existing house and the surveyor can advise you on this and potential setbacks.

[smartcode_project:default project_id=5873]

The surveyor will be able to quote to manage the entire process, including getting quotes to extend the sewer and other service connections (if they are not already in place). It's important you understand the costs of subdividing.

To give you an idea, Property Bloom usually allows around $30,000 for a Torrens title subdivision of a large corner lot like you have described.  The cost will of course vary based on service connection works required, how far the sewer needs to extended and any upgrades to services that may be needed (if it is in a really old suburb).

Is the land kerbed and guttered on both sides?  If not, then one thing to look out for having council request you do these works. It's something you can check with the council town planner.  You will also need to provide drainage for the newly created lot, so the slope of your block is important. The surveyor will advise you on this.

[smartcode_project:default project_id=24767]

If you are going to lodge a DA for a dual occupancy and subdivision then a good builder may include the subdivision as part of their works and contract. This will mean you can finance works by way of a construction loan.  This is also a faster process than subdividing up front (which you cannot do anyway based on zoning) and you can lodge one DA for the building and the subdivision works. Again, check this with your local council as they all have different requirements.

I would also look at building a duplex (two attached dwellings) on the new lot rather than a single house as this will add more value and should create some good equity.

Good luck, I hope all goes well,

Jo

<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Reader question: I want to subdivide my block of land, but where do I go from here?

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Happy New Year!
I hope you have made some awesome New Year resolutions around property.
My year is off to a great start, I'm happy to say. Do you remember the <a href="/expert-insights/investing/i-have-a-confession-to-make-i-tried-to-sell-a-poorly-presented-home">apartment I was selling</a> late last year?   
I tried to use the hot Sydney market as an excuse to not present it in its very best light. Trying to sell an apartment with messy tenants in place was a real mistake.
This was reinforced when I attended one of the open houses and actually saw how cluttered it was. After this, my selling strategy completely changed.
We immediately took it off the market for a few weeks until the lease expired on 3 December.
<img src="/images/2015/01/09/lounge%20room%20before.jpg" alt="">
The lounge room before it was styled.
It took literally two days to do some small repairs, replace a few old fashioned light fittings and have my professional stylist, Kylie from <a href="https://propertyrevamped.com.au/" target="_blank">Property Revamped</a>, give it her magic touch. 
The exciting news is the property exchanged within 17 days of going back onto the market.
<img src="/images/2015/01/09/lounge%20room%20after%20styling.jpg" alt="">
The lounge room after it was styled.
I've got some impressive stats to share with you, which really go to show that styling a property can make a massive difference.
First campaign performance on one of the real estate portals: 3,407 views with 6,795 engagements.
A view is someone opening the advertisement in full and an engagement is opening just one element, perhaps a photo, floor plan, map view, or video.
During the second campaign the views increased to 6,688. That's a 96% increase, or basically double the views. Engagement increased by 121%, to 15,023.
Our agent Felice Cotroneo from <a href="https://www.innercity.com.au/" target="_blank">Innercity Property Agents</a> said: "Whilst enquiry was a lot stronger, the big shift was in the vibe or feeling at the open homes. Before the apartment was styled we received a lot of negative feedback. After it hit the market again with the staging in place, there were many nice comments and a lot of 'wows' which is always a good thing to hear at your opens. People enjoyed just being in the apartment and spent on average two thirds more time at the property."
In the first campaign we had a total of 29 people through the apartment. In the second campaign this increased by 41% to 41 people.  The offers were no longer low and we sold it at full asking price, which was $65,000 over the offer we received on the previous campaign's auction day.
We paid about $2,000 for Property Revamped to do the styling, so that's a return of $63,000 for 17 extra days – a good lesson learnt.
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How I increased my property’s value by $65,000

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more internation and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Jo Chivers

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