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I thought as my final story before we close for the year and take a little break, I'd share with you a case study on one of our best property development results for 2014.
The development strategy: House renovation, Torrens title subdivision, three bedroom, two bathroom duplex construction, strata subdivision.
What an adventure this development was. We started our journey after locating a fabulous three bedroom house on large block of land for our lovely clients Lean and Alex, a very hard working couple and savvy property investors wanting to boost their portfolio.
On the land there was room to build a three bedroom, two bathroom duplex facing a secondary street. 
<img src="/images/2014/12/19/IMG_9546.jpg" alt="">
Property Bloom negotiated a nice discount off the purchase price and terms including a low deposit and extended settlement with access to start our renovations.
Our main concern was drainage and vehicle access to the secondary street as it was not a certainty that council would approve our orientation of the duplex because there was a small section that could be classified as a laneway that led to the secondary street.  However, there was some existing guttering that had been completed by a developer a few blocks up and a stormwater drain within a few meters to direct our run off to.  
To add to the complication, a new local environmental plan (LEP) and development control plan (DCP) came into effect during our settlement period. We had to ensure our plans would meet all the new requirements.
It was decided that we would lodge a development application (DA) with two stages; firstly a two lot Torrens title subdivision and the second stage to construct the duplex. If we lodged a DA for a three unit development (including the existing house) we'd need to provide space for visitor parking and complete certain upgrades to the house that would not necessarily increase its value but would be costly. By subdividing first we could maximise the area for the duplex and make it more spacious. It was a more lengthy and complicated process, but gave a far better design result.
We used the settlement period to complete the house renovations and work on the concept plan for the duplex. The house was leased at a strong rent which offset holding costs whilst we worked on the duplex design, planning and construction phases.
After much research and several meetings with council we lodged our DA.
The DA process was frustratingly long which we put down to the planners also getting their heads around the new LEP and DCP requirements. Finally we received the consent but then found conditions around the timing of when the subdivision should be registered that we wanted amended. We wanted to start construction before the subdivision was registered which would be a much quicker process. So we lodged a Section 96 application and were granted permission for the subdivision to be registered before the release of the occupation certificates, so after constructing was completed, this saved valuable time.
The actual construction went very smoothly thanks to our wonderful builder and our clients even received some credits for provisional sums that were not needed.
Property Bloom set up a relationship with a national housing group that required new properties to lease to their government tenants, so our client received rent from the date of handover and are on a long term lease with this agency. 
<img src="/images/2014/12/19/IMG_9536.jpg" alt="">
Here's the actual financial results of this project:
<ul>
<li>Total cost including house purchase, stamp duty, legal, renovations, design and planning process, subdivision and turnkey construction: $693,574</li>
<li>Total valuations on completion, including house and two three bedroom villas: $840,000</li>
<li>Equity created: $146,426</li>
<li>Gross yield: 8% </li>
</ul>
Our client's portfolio was boosted by three properties created from one.
I hope you've enjoyed our stories this year.  I wish all our readers and the wonderful people at Property Observer a safe, relaxing and happy Christmas. 
May 2015 bring you much joy and happiness, and a maybe a shiny new property development.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

One of our best 2014 property development results

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I'd like to think that a couple of weeks before Christmas that I'd be winding down.
Taking stock of the amazing amount of development projects that Property Bloom has completed in 2014 (no wonder I'm tired) and finalising the projects currently under management ready for the Christmas break.  
But no.  I've just heard about a new land release that I'm extremely excited about due to its prime location and will be busy securing duplex sites right up until Christmas.
This crazy time of year made me think about work capacity and how deadlines help us.  It's interesting to see just how much work you can get done when you have a deadline to meet. Most of us use Christmas for a deadline.  I've spoken to lots of investors recently who say, "I'll look at it after Christmas". 
To me, winding down is lost time - you can really take advantage if you remain productive in the lead up to Christmas.  Whilst others are thinking about their Christmas shopping, you could be assessing property deals and making offers.
When we’re working against a deadline, we know that we don’t have time to spare; if something is due then we simply can’t afford to waste time. The result is that we’re a lot more diligent about ignoring the little time-wasters that would usually derail us like those crazy animated Christmas emails.
Remember Newton's first law of motion - sometimes referred to as the law of inertia? An object at rest stays at rest and an object in motion stays in motion with the same speed and in the same direction unless acted upon by an unbalanced force.
Perhaps our 'unbalanced force' is Christmas right now.  I'm planning to 'stay in motion' right up until Christmas Eve (and probably beyond) for two reasons; one I don't want to miss a property development opportunity and two I have not done any Christmas shopping yet!
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Winding down is lost time: Using the Christmas deadline to your advantage

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I'm going to have to admit something that is a bit embarrassing. I've been feeling quite guilty about it so I'm going to confess.
I bought an apartment about 15 years ago (before I started Property Bloom and discovered the Hunter Region).  It's been a great investment and has hardly ever been vacant.
It's located in Chippendale, an inner city suburb of Sydney. The balcony off the living area looks into a peaceful, leafy street and you wouldn't know it's only moments from the CBD and two universities. In fact, it's pretty much been rented consecutively to uni students. As one student would complete their course, they'd introduce the unit to a friend and we'd have a new tenant ready to move in.  
After much number crunching and portfolio gazing, it was time to sell it and as Sydney is experiencing nothing short of a boom right now, I took the lazy way out.
Here's my confession....
I tried to sell a property when it presented in its absolute worst state.  I thought a strong market would mean less focus was needed.
By worst state I mean the student tenants had stuff everywhere. The lounge room consisted of two desks and the rest was covered in what looked to be their entire life's possessions. It was more like a storage shed than a lounge room.  Whilst they were looking after it, there was just too much clutter.
Now, I'm used to walking into a property and seeing the true value through clutter. Believe me, I've seen some horrifying things in properties but I can visualise them cleaned up and our clients have benefited from this. 
Point 1:  Not everyone can visualise.
It's estimated that only 10% of home buyers can visualize the potential of a property. That means 90% are not going to be able to look past dirt, clutter, and imperfections.
Regardless of this, I said to the agent 'let's just whack it on the market and see what happens'. Whack it we did...and guess what, nothing happened! 
There was a lot of interest due to the fabulous location but not one decent offer was made.  Every penny pinching investor was out to make a quick buck and I don't blame them.
Point 2:  You attract low ball offers on poorly presented properties
So we pulled it off the market and waited for the lease to lapse.  Then we had an empty shell of an apartment.  Remembering that not everyone can visualise, I was certainly not tempted to try and sell it empty. We needed to show buyers how good it could look. That's when I called my friend Kylie, she'd started a staging and styling business called <a href="https://propertyrevamped.com.au/%20" target="_blank">Property Revamped</a>. 
In she came and within days of the tenant moving out, we have an entirely different property.
Point 3:  A total transformation can take place quickly
<img src="/images/2014/12/05/lounge%20room%20before.jpg" alt="">
lounge room before and after
<img src="/images/2014/12/05/lounge%20room%20after%20styling.jpg" alt="">
 and
<img src="/images/2014/12/05/bedroom%20before.jpg" alt="">
Master bedroom before and after
<img src="/images/2014/12/05/bedroom%20after.jpg" alt="">
Kylie explained that "Property styling can evoke a lifestyle, seducing prospective buyer into an environment where they envisage themselves spending time with family and friends".
Our agent Felice Cotroneo of Inner City is now the happiest man on Earth. He'd recently sold two properties that had been staged. Both had sold within weeks of being listed.
"We estimate that the staged properties sell 80% faster than non-staged or empty properties." said Felice.
"Styling helps buyers to see that certain furniture works in a particular room. Styling maximises the sale potential and your return on investment is substantial" he said.
Point 4: Look at the return on investment to see if it's the right tactic for you
I will be waiting to calculate the exact return on investment. The staging cost less than $2,000 and we have furniture for eight weeks. I think that's a pretty good investment. Stay tuned and I'll let you know how quickly it sells.
If you are interested in a good inner city investment, <a href="https://www.propertyobserver.com.au/https://www.innercity.com.au/12113913" target="_blank">take a look</a>.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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I have a confession to make: I tried to sell a poorly presented home

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It's funny how a town, city or region can become labelled.
I've heard that Canberra is reserved and government orientated, the Gold Coast is Australia's crime capital, Geelong is the poor cousin of Melbourne and the Hunter Region is coal mining country with Newcastle once known as Steel City.  
Obviously, these labels can linger over many years long after change occurs. The reference to Steel City relates to the BHP steelworks that closed over 15 years ago. Newcastle is a great example of how a city can reinvent itself after a major change in economic forces takes place. 
I found a dual occupancy site in a suburb that I didn't know much about, but it was close to where one of my project managers lived. I asked him what the area was like.  Whilst I won't repeat his entire response, it did include a reference to two heads! The name of this suburb also did nothing for its image.
Our thoughts or information we gather create perceptions. These perceptions that may not always be accurate and that are usually not fully reflective of the areas.  A perception is the way in which something is regarded, understood, or interpreted.
I've heard the saying "perception is reality".  As property investors, our research process needs to look past perceptions and drill down into facts. Perceptions can change over time.
Study the economic indicators of the towns and cities you are investing in. Look at labour force, household and business factors. 
Labour force includes employment, unemployment, sectoral shifts - this will tell you if the area is going through change, if the area is following the national trend or if a sector is rising or falling.  Look for diversity within the industries that are employing locally.
Knowing the unemployment rate and trend is important and compare it with the state and national figures.
Find out what industries are the biggest employers, look at the actual figures then compare it you with the perceptions. For instance  many assume mining would be one of the highest employers in the Hunter Region of NSW but it is ranked seventh, according to the Australian Bureau of Statistics' Monthly Labour Force Survey.
The number one employment segment is actually health care and social assistance.
This brings me to an interesting article I read about people being the drivers of our future economic growth. <a href="https://blog.id.com.au/2014/economy/people-the-new-drivers-of-economic-growth/" target="_blank">The article on .id</a> talks about: "Human Capital...the store of knowledge, skills, talents, experience, wisdom and intellectual attributes that we all contain in our heads."
"Sectors that rely heavily on human capital, as a means of production, are the emerging sources of jobs and growth in domestic product. Health care and social assistance, education and training, professional, scientific and technical services, finance and insurance services, and information media and telecommunications, now account for one in three jobs."
Looking at the list above, I crossed checked it with the highest ranked employers in the Hunter Region and two sectors; health care and social assistance and education and training were in the top five.  This was heartening.
With mining ranked seventh, I'm not letting perception get in the way of our property developments. I'm looking more to the new and expanding hospitals and retirement villages that have been recently been announced. Those nurses and doctors, staff and patients families are all going to need to live somewhere. 
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Property investors need to look beyond perceptions

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I was lucky to recently spend an amazing weekend riding horses in the NSW Snowy Mountains National Park.
It was one of those bucket list trips and I went with an old school friend. We'd gone to pony club together and grown up as horse crazy girls. We'd spend most of our teenage years riding and looking after our horses (which kept us out of trouble!).
Whilst sitting around the camp fire at night with a group of other women and staff we'd just met, I was discussing property investing with one of the ladies – can't help myself!
She was a pretty amazing single lady with her sights set on the future. She'd been clever enough to buy a few investment properties in-between serving our country in the army.  We were discussing her recent purchase of an off the plan apartment.
She shared with me the numbers on her deal and I was a bit surprised. I have good experience with buying off the plan but it was over ten years ago now that I used this strategy. Back then, the property developer offered a good discount to purchasers and this helped create some equity. If the market was also moving upwards, then a nice chunk of money could be made by settlement time. I would settle an apartment then draw out the equity to use as a deposit to settle the next one.
But things have changed. There seems to be more risk as there isn't the same discounts being applied. So you buy in at today's market price. If, of course, it's a hot market, as Sydney is at the moment, that price could end up more than what the apartment may be worth in a year or two once completed.
I explained what I did to the lady. Property Bloom manages small developments for our clients. A dual occupancy development can create a big chunk of money within twelve months and you end up with two properties.  I explained that the big difference between buying off the plan and developing yourself, is that you are creating the equity through the development process, not hoping for capital growth whilst your apartment is being constructed.
Would you rather control of the equity creation by cutting some keen deals on the land and construction or rely on a stranger to build your investment and hope for the market to rise?
I did the latter six times and was lucky four out of the six times. The other two deals were borderline. If I had my time again, I would not have completed on the two ordinary investments.  But as they say, time heals all wounds and because I held onto these investments (in lieu of selling at a loss) they've turned out well.
My big lesson from buying off the plan?  It is far more lucrative to be the developer than the investor.
<a href="https://www.propertybloom.com.au">www.propertybloom.com.au</a>
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Chewing the fat on off the plan investments

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Our clients Lorraine and Steven live in Sydney and are active property investors.
Both are very busy professionals with a young family. Steven is a medical specialist and on call all hours of the night and Lorraine a solicitor with a young toddler. 
We located a dual occupancy site for them in the City of Maitland in the Lower Hunter Region of NSW.  The official population of Maitland City as of the 30 June 2013, is 73,447. It has grown <a href="https://profile.id.com.au/maitland/population-estimate" target="_blank">by 2.16% over the past year</a>. 
<img src="/images/2014/11/14/IMG_3845.JPG" alt="">
Maitland City is a solid area to develop in as we've been working there for over nine years and seen the population steadily rising and announcements of large infrastructure projects mean there is good investment being made by the government. NSW Planning have Maitland's annual growth rate projected to be the highest in metropolitan areas outside of Sydney.
As part of our research process, after pinpointing a city or town to develop in, we then drill down into suburb data. We look at median price history and trends and availability of land and housing. Our research with local agents confirms the type of housing in demand and we check for low vacancy rates. We then look for development site locations that are close to infrastructure such as good schools, shopping centres, public transport and quick access to Newcastle and to the M1 to Sydney.
<img src="/images/2014/11/14/IMG_3840.JPG" alt="">
We were offered Lorraine and Steven's development site off market through one of our land developers and quickly moved to secure it for our clients. The dual occupancy project was completed within 12 months of settlement on the land.
Here are the details:
<ul>
<li>890 square metre development site; land cost: $210,000 </li>
<li>Stamp duty &amp; legal costs: $2,285 </li>
<li>
($5,000 <a href="https://www.osr.nsw.gov.au/lib/doc/factsheets/ofs_nhg1.pdf" target="_blank" style="line-height: 1.3em;">NSW New Home Grant</a> applied. The government contributes $5,000 to offset stamp duty) 
</li>
<li>Construction cost for two freestanding, three bedroom, two bathroom, DLUG villas, includes Torrens title subdivision all design and council fees and charges: $460,627 </li>
<li>Total cost: $672,912 </li>
<li>The villas were valued on completion of the project at: $390,000 each. Total end values for both villas: $780,000. </li>
<li>Equity created: $107,782 
</li>
<li>
Gross yield after villas were rented at $400 per week each: 6.2% 
</li>
</ul>
<img src="/images/2014/11/14/IMG_3807.JPG" alt="">
If you are borrowing at around 4.5% then a development project like this may be cash flow positive for you. This is when the rent and depreciation benefits combined cover the costs of interest, insurance, council, water rates and management fees.
The other big benefit on a dual occupancy project is the depreciation benefits. On the above case study depreciation came in around $21,000 year one (using the diminishing method).
<img src="/images/2014/11/14/IMG_3780.JPG" alt="">
What Lorraine and Steven got out of using our service is the experience of being a property developer without having to deal with all the fine details and issues. Our weekly update reports act as a handy reference guide for clients to use when/if they have time to manage their next project themselves. Our role is to bring in the projects as quickly and efficiently as possible. Our long standing relationships with builders and contractors, land developers and agents allow us to pass on discounts and exclusive offers to our clients.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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How a dual occupancy development can work out cash positive: A real life case study

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We just finished a great little duplex project for a client. The site was in an older suburb and had a derelict house on it and it came with some challenges.

When you are looking at a knockdown, it's important to factor in a few things. One of the biggest of course is the demolition costs.  These can range dramatically in cost.

As we had time whilst waiting for the DA to be processed, I ended up getting no less than seven quotes. The old house was full of asbestos of course so that was factored into each quote and there was a big garage slab to be removed.

The highest quote I got was $22,000 and the lowest was $13,000. This was a contractor who actually recycled a lot of the materials, on selling them and was therefore cheaper.  

[smartcode_project:default project_id=3783]

Lesson number one, it is worth the efforts of getting lots of quotes.

The cost of the site was $160,000 (negotiated down from $180,000) plus demolition costs bought it up to $173,000. This was a nice big 876 square metre block of land located close to the school and a good price to pay for a dual occupancy site. It had a 20 metre frontage but there was no kerb and guttering to the front of the house, just a gravel shoulder. 

The site had a slight fall to the rear and we planned to build up the site to drain to the street. But council had other ideas and one of the conditions of our DA consent was to drain to the rear where there was a gravel laneway.

The problem was that there were no drains in the laneway and we had to install a dish drain to direct the water to the nearest cross street, which was pretty ridiculous considering there was no drain there either.

Lesson number two, look for land that has establish drainage in the street, preferably with kerb and guttering.  

The next hurdle we found building in an old suburb was the water and sewer infrastructure was aged.

We were asked to install a new water service which included boring under the road to pick up the main for the water service and install a new junction as per the minor works contract issued by the local water board.

This added about $7,000 to the development costs effectively wiping out most of our $9,000 saving on the house demolition.  

Lesson number three, make allowances for infrastructure upgrades. These are not required in new land estates.

The good news for this development was that the villas were in high demand, being in an older suburb where there was very little new housing. Typical dwellings consisted of 80 year old miners cottages with a sprinkling of 1950s brick homes.

All through the construction phase I had people phoning me wanting to rent them or buy them. Our client was building to hold and so as we neared completion, I was able to have both villas leased for our client before handover.

We have a great relationship with our builder and they allow us to hold open houses and show through prospects before handover which is invaluable and means cashflow from the moment the final builder's drawdown is paid.

This little duplex project ended up costing $570,000 including land and construction costs to build two three-bedroom attached villas (a duplex).  Both were rented for $350 per week, giving a gross yield of 6.4%.  There was some equity created as well with the villas worth about $320,000 each.

There are advantages and disadvantages of a knock down rebuild project. It's important to get the land cheap enough to compensate for any additional issues that may arise due to the older area.

<img alt="" src="/images/2014/10/31/chivers%20oct%2031%20one.png">

<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Three lessons from a knock down rebuild project

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I found a great property development site a few weeks ago.  It was a three bed house on over 1,000 square metres of land. Whilst this type of property is considered fairly common in this Hunter Region town, there were a few major plusses to the site.
<ol>
<li>Zoning. It was zoned for medium density development - you can build several dwellings on the land as long as you comply with the development control plan (DCP).  Most properties in this town are zoned low density which means we could only build one other dwelling if keeping the house. The house is not really a knock down. </li>
<li>Location. This property is right behind the shops and about 200 metres to the local school. You can walk to the new Coles or Aldi stores. Tenants love this as they may not even need a car, this will appeal to older, downsizers wanting to be close to facilities and young families wanting their kids to be able to walk to school. </li>
<li>Land size and fall. The land is relatively flat and the position of the house is right at the front of the block. The rear yard is large enough to build a duplex in it. </li>
<li>The house is old but in fairly good condition. We could rent it out immediately and still get a 6% gross yield or renovate it and get a higher return. </li>
<li>There is a rear laneway at the back of the property.</li>
</ol>
My initial development strategy was to keep the house and build a duplex - two attached two bedroom single story villas and a three lot subdivision, and the zoning allow this.
After my inspection of the house, I opened the back door to the yard and immediately loved the space, it seemed near perfect for our development strategy. I paced out the area and knew a duplex would fit, we'd need to allow for a driveway to access the duplex from the front road as council do not (usually) allow us to use the rear laneways for direct vehicle access. The laneways are nothing more than dirt tracks with no drainage. They were originally used for 'dunny runs'.
I opened the rear boundary fence gate to check the laneway and that's when I became more than excited.
What I saw was a perfectly sealed road with kerb and guttering that lead to a drain at the next cross road.  Whilst it was still a 'laneway' and there was no street name sign, it appeared to be used for deliveries to the shops and council had upgraded it substantially. I did find a property that appeared to have only vehicle access to it. Ah ha, precedence! 
By now my mind is racing...what if we were able to use this laneway for our duplex access? We'd certainly have more options to play with:
<ol>
<li>Face the duplex to the laneway. We could also upgrade it to a three bedroom duplex and save on the long, expensive driveway. </li>
<li>Torrens title subdivide the duplex from the older house, basically cutting the land in half so each dwelling has a little over 500 square metres each. </li>
<li>Renovate and upgrade the older house and it would be worth about the same that we paid for it on the larger land size. Essentially getting the land at the back for free. </li>
<li>Or, demolish the house and build another two villas - a duplex facing the street, effectively making this a four unit project. I really liked this one. </li>
<li>For a client on a low budget, we could simply cosmetically renovate the house and build a granny flat that could be relocated in the future so that the site could be used to its full development potential. This is what we call a stepping stone strategy.</li>
</ol>
We loves this type of development site as it offers so many options to our clients and the house will provide some cash flow during the development phase. These sites are about as rare as hens teeth and so we get a big buzz out of finding them.
Our clients who have taken this site, completed a three unit development with Property Bloom earlier in the year and have come back for more. Their plan is to get as many developments under their belt before starting a family. They are both in well paid jobs and can take advantage of the depreciation benefits.
Our challenge now is to see if we can convince council to allow us direct vehicle access to the laneway. Our back up plan is to run the driveway to the front street as this will still work, but our goal is to optimise this development.
Watch this space and I'll let you know how we go.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Exploring all options of a development site

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I've been going through some personal challenges lately. While it's been emotionally very hard, it's made me realise something I was totally unaware of.
I treat and deal with my personal obstacles in the same way I do the challenges I encounter in property developing.
I hadn't thought too much about the way I work and the way I live and kind of assumed they were separated by an invisible line in the sand. But the longer I've been running my business, the blurrier the line has become.
Yesterday I had to go into a very unfamiliar space. I had to negotiate something of upmost importance to my family's future, but it was personal and highly emotive stuff.
To get through it, I put on my business hat and approached it in the same way I would if I was negotiating a property deal or managing a development issue.
By doing this I could emotionally remove myself from the situation and make some very straight calls. This helped me get through the day but more importantly, the result I had visualised for a few weeks leading into this actually materialised.
I felt that this mental preparation gave me a guideline or goal for an acceptable outcome. Let me explain what I mean by 'preparation'.  I'm literally talking about only a few minutes every couple of days thinking about what I wanted to happen. That's all.
I'm not sure if I'm noticing this more as I get older or it's because I'm more 'tuned in' but this whole visualisation thing works for me, in work, at home and in business. 
I'm certainly not a 'new age' type but I've found if you open yourself up to an outcome and allow some emotion reasoning behind why you want that outcome, then magical things can happen.
Apart from my personal results, I've also been very pleased with some business results this week. Property Bloom has completed a few developments for our clients, we've found some very good development sites and had tenants literally jumping to sign a lease on a completed dual occupancy project.
In order for these enthusiastic tenants to move into their new homes, we needed to handover the project. This means the final drawdown has to be paid by the developers bank into the builder's account before keys will be released. This process can sometime take weeks, but we didn't have weeks, only days.
Our ducks were lined up after we held an open house a few weeks before completion knowing that tenants will need to give two weeks' notice before they could move into the new villas.
We conducted our Practical Completion inspection on the duplex instructing our client to put the final invoice to the bank for payment – at the same time we managed some small items still to be finished on the build.
The bank's valuer inspected the duplex on Tuesday, the bank paid the final builder's invoice on Wednesday, funds hit the builder's account on Thursday and keys were delivered to the agent ready for the tenant to move in on Friday. This precise timing means our client has a rental income from the day after handover.
So how did visualising help?  Well I knew three weeks prior the day the tenant had to move in and while you cannot control this part of the development as we are relying on banks and payments to hit accounts, all we could do was ensure everyone had all the information they needed to do their jobs and 'know' (hope) that all would be well.
In this case it worked, but there has been others where it hasn't.  Where I've had a feeling someone is going to drop the ball, whether it's an impression I got from the bank or the builder or the valuer or the agent or the tenant. Whatever it is, you need to act on this feeling and adjust the finish line. It's about using your gut feel, intuition, experience or whatever you want to call it.
So refocus, and get your eye back on the prize.
<a href="https://www.propertybloom.com.au">www.propertybloom.com.au</a>
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Playing the property game, keep your eyes on the prize

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This story is dedicated to my very best friend Tracey.
She is a real fighter and I think what she has proven recently can be applicable to us all. Today's message is: When you want something badly enough, you fight for it.
Trace and I go back a long time, we met in our early 20's playing sport and we went on to buy property together under a joint venture agreement, but mostly we've just hung out and had lots of fun times.
She's recently had to fight hard to win a battle with a large government agency. You see she missed out on a promotion after spending about a year preparing for it.
There was a dispute in her application that led to her just missing out by only one placement. This had massive implications on her career path, not to mention her emotions.
She didn't miss out because she wasn't good enough. She was aware of a discrepancy that meant that she actually should have been accepted but due to certain circumstances I can't talk about, she didn't make it.
She could have gone one of either two ways.
She could have accepted 'fate', moved on and forgotten about her dream of making it to this level.
Or, she could be very brave, speak up and expose the person and agency for the error that had occurred and fight for what she knew she deserved. This was not the easier option.
I'm proud to say Tracey took the second option. She spend a crazy amount of time researching the applicable Acts and becoming very familiar with her rights.
After her initial complaint fell on deaf ears, she engaged the best solicitor she could find who specialised in this area. She worked with him to ensure that the correspondence sent out truly represented her and what was in her heart.
It wasn't too long before the agency virtually admitted guilt (in a roundabout way) and she received a personal phone call from the 'big guy'. He offered her a chance at the role she was so focussed on achieving. She still has a lot of work ahead of her before she can be awarded this role.
All she wanted was an equal chance, one she had fairly won but was not given.
I have no doubt in my mind that she will not only achieve accreditation but exceed all expectations because she is determined.
My friend has drive. She is focussed on what she wants and she will get it. I know she will.
I can't help use Tracey's story as inspiration. I think to achieve our goals, there is nothing better than having a very focussed mind, a firm understanding of why we want to get there and  then, if we can add in a sprinkling of emotional energy we have a very powerful force.
So what is it that you are trying to achieve and do you want it badly enough? What are the emotions behind your goal? Is it to set up your financial future so you can spend more time with loved ones? Is it to know that the people you love will have enough? Is it to retire early and have more fun?
Many people I speak to want property investing to be their financial saviour.  It can be, but what you need to bring to the table is focus, determination and a strong passion to stay on track and drive your investment strategy.  If you want it badly enough, are focussed and have done your homework, you can achieve anything.
<a href="https://www.propertybloom.com.au" target="_blank"> www.propertybloom.com.au</a>
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Drive and determination can equal great achievement

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 international 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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