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Today I met with an old friend. I’d coached his son in soccer (yep I am a junior soccer coach – but only up to under 10s!).  He is a very successful local real estate agent. His business on Sydney’s Northern Beaches has been growing from strength to strength over the past few years.  But he was here to see me to discuss his personal investment options.
He said “Jo, despite me being in the industry, my focus hasn’t been on growing my own wealth – more growing my business and getting the best results for our vendors and landlords – I’ve been selling property not buying it.  Now I need to start planning for my retirement”.  Whilst still a way off, retirement is rightly so on his radar.
Property on the Northern Beaches of Sydney has become expensive; it’s hard to consider it from an investment perspective as the entry point is high. The rental yields low but capital growth prospects are ok tracking at around 5% but on a high base, this can be impressive.  So if you are investing in this location, it means you need to be able to support your investment with surplus cash as the rent just won’t cover the costs. The costs include interest payments, council and water rates, insurances, repairs and management fees. It’ll be a negatively geared investment.
My friend was looking for was a project where equity can be created but also an investment that would be cash flow positive. This would let him keep moving forward on his investment journey and continue to focus on growing his real estate agency business.
I presented an affordable dual occupancy development concept to him. We looked at the numbers and he said “Jo, I don’t think you can create that kind of equity within one year by just buying and holding.”
Within a year we can create around $100,000 in equity through a development like this.  I said, "Of course not because what we are doing is creating equity via the development process – from adding value and building two dwellings on one piece of land and subdividing it to create two properties.”
Not only are we creating equity, the gross yield from the rents on completion means the properties are easy to hold as they may be cashflow positive. So the rent combined with the tax benefits means that you shouldn’t need to contribute extra cash (depending on your taxable income – seek accounting advice).
But another important element to this dual occupancy development opportunity is that the regional cities we develop in have good capital growth rates currently tracking at 7% + annualised.  As a comparison, the historical growth rate of the Northern Beaches suburb I live in is 5%. Hmmm, this is looking more interesting.
This dual occupancy project would be valued at approximately $760,000 on completion – that is two freestanding three-bedrooms, two-bathrooms, single lockup garage villas at $380,000 each.  If the properties receives 7% annual growth then around $53,000 capital growth should be realised in year one. This will increase year on year based on the annualised growth rate.
Creating some equity, a strong yield and good depreciation benefits with a small development in a location with good growth prospects seemed to make sense to my real estate friend.  His next step is to take a drive around and conduct his own due diligence. I’m expecting his call back soon.

<hr>
Jo Chivers is director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
 
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jochivers-wq5Bp59R5a

Is it quicker to build equity from development or buy and hold in a high capital growth location?

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I found a really cool message on YouTube from a young entrepreneur called Vik Nithy about procrastination.  I was web surfing instead of writing this article...I guess I was procrastinating!
I think procrastination can be our number one enemy when it comes to moving forward not only on a property transaction or strategy but in life in general.
Procrastination is choosing whether you’ll do it now or do it later.
Often our heads are in conflict – lie on the lounge or research that property deal?  Go to the beach or phone the solicitor to discuss the contract? Catch up with friends or attend that open house?
Mostly we procrastinate on things that we are not sure about or committed to.  From my own perspective, I never procrastinate if it is work (well...maybe over some little things!) or investment related because I love what I’m doing in these areas and I have specific goals. The other reason is that if I procrastinate over a potential development site, someone else will get it.  There is no time to waste when you’ve located a good deal.
But I’ve been going through some procrastination lately on another level and it’s because I really have not known what I want. This has prompted me to delve deeper and find out why – identify the reason I’m avoiding things.
That’s the secret...knowing what you want. Sounds easy and it can be if there is passion and belief behind what you do.  If you can sit down and plan your goals and make a commitment to them, then there will be less what <a target="_blank" href="https://www.youtube.com/watch?v=WD440CY2Vs0">Vik calls “monkey mind”</a>.
“Monkey mind” is the part of your brain, or the voice in your head that reacts to a threatening stimulus. Perhaps, it’s really not knowing where to start researching for your property investment or questioning whether you should actually buy the property you’ve been researching for weeks?  Or if you should develop one of your properties because you know it will add value but you just don’t know where to start.
Decision making shuts down procrastination.
Being focussed and motivated is another weapon you can use. I always come back to the core reason I’m investing in property which is to set myself up for retirement and there really is no time to waste. My financial planner says we’ll need around a million dollars in our superannuation to live comfortably - not luxuriously - when we retire.
Procrastination is an anxiety response. Make a decision and have faith in yourself and there will be no procrastination.
Ask “What is it that you’re afraid of?”  Once you can identify your fears, you can overrule them with facts.
For instance, “I’m afraid I’ll lose my money” Answer: if you’ve researched well, you will only lose money if you sell at a loss. If you have the capacity to hold over the long term – ten years or more - then generally you will be OK, as property in good locations doubles in value every ten years.
I love this quote by Napoleon Hill: “Don’t wait the time will never be just right.” 
I can confirm this with my own investments; in fact some have tripled in value over this time. But to take out any fear, make sure the investment is within your means.
But often our means can stretch if we need it to. As Oscar Wilde said “Anyone who lives within their means suffers from a lack of imagination.”  There is always ways of making more money.  If your goals are to build wealth then you may need to put yourself out there, we can usually cut spending in other areas or find new ways to support our investment.
We must plan. Write down what you are expecting from the investment and remember that if things don’t turn out the way you wanted, failure is a positive learning experience. It’s better to learn from our mistakes than not to have tried at all.  “Anyone who has never made a mistake has never tried anything new.” - Albert Einstein
If you take on this attitude, fear will dissipate, procrastination will disappear and you will move in the direction of your goals and dreams.
 
<hr>
 Jo Chivers is director of <a title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">Property Bloom</a>, which manages property development.
 
Check out our new website <a href="https://www.propertybloom.com.au/">www.propertybloom.com.au</a>.
 
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Planning, research and then taking action are the keys to successful investing

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The very first thing I do after finding what I think is a good development site is ask for the sales contract to be emailed to me. It’s the starting point for my due diligence and research. At this stage I may not have even physically seen the land.
I thought I’d share the five most important things I look at as soon as I get my hands on that sales contract.  As developers, there are so many checks that we need to do, but to keep it simple, here’s what I recon needs to be done first...
I’ve opened the sales contract and start to scan through it.  I’m no solicitor that’s for sure, so it’s very important you have a solicitor ready to review the contract after you’ve had the first look.   There is really no point sending a contract to your solicitor and starting to incur legal fees until after you’ve reviewed it and then had an offer accepted.  However, if you are not confident or familiar with sales contracts, then definitely let your solicitor know what your development plans are and ask them to review it in this light.
Front page
A quick look at the front page of the contract confirms exactly what is for sale - this may sound strange – surely what is being advertised is what you’d be buying but this is not always the case. I’ve been offered land that the agent is advertising as two titles but on the contract only one lot is listed. This may mean the land has a subdivision approval however it is not yet registered so there could be costly work still required to complete the process.  Perhaps the agent was told there were two titles by the vendor. Or, I’ve been offered two lots of land that have to be sold under the one contract.  In this case it was because council would not allow a separate access to one of the lots – it’s a long story so I won’t go into it now.
Sometimes the sales agent had been told one thing by the vendor but the reality is different. It’s our job to sift through and check what’s on offer.
Deposited plan and/or survey
From the front page I usually skip straight to the deposited plan (DP) or if I’m lucky there may be a survey in the contract. In about 99% of the cases, there is no survey which is my number one bug bearer. If you are selling land people, please include a survey in the contract!  It will assist purchasers to quickly evaluate the land. 
A survey reveals the width of the frontage, the depth of the block, what structures and trees/foliage are on it and that may need clearing (a cost to include in your budget). A survey will also identify any easements affecting the land.  If you are very lucky, there may even be a contour survey. In new land developments, I can usually get hold of a contour plan. This shows me the fall on the land. The amount of fall will give me an indication of how much site works and retaining the development may require.
Planning Certificate
Next, I look for the section 149 planning certificate as it’s referred to in NSW. The first thing I check is the date it is issued, it’s extremely important that it has been recently issued by council. An old 149 is not worth the paper it’s printed on as council requirements/zonings can change.
I just checked two certificates, one was issued the a year earlier and the second more recently. In the first certificate the land was in a bushfire zone, in the second certificate it wasn’t.  This zoning had obviously changed over time. I then check things like the land zoning – most important if you want to carry out medium density development but the land is zoned low density then the site is not suitable for you. 
For our granny flat developments, we make sure that complying development may be carried out (so we can have our approval received within ten days), I check if the land is in a proclaimed mine subsidence district (this is important as there are many under mined areas in the Hunter Region of NSW however, it still may not rule out a development site for us as you can build on undermined land but further checks on building requirements are made with the Mine Subsistence Board), I check if the land is flood effected (we don’t usually touch floor effected land as it’s too expensive to build to the requirements), bushfire prone (this is ok but does add  a little to the build costs) and any restrictions that may impact on my development plans.
Section 88B instrument
I check to see if there is a Section 88B Instrument in the contract. This is usually only included in newly created subdivisions or land releases.  A section 88B instrument is part of a deposited plan which upon registration:
<ul>
<li>
Creates easements, profit à prendre, restrictions on use of land, and positive covenants. [cl.35 Conveyancing (General) Regulation 2008]
</li>
<li>
Releases easements and profits à prendre. [cl.36 Conveyancing (General) Regulation 2008]
</li>
</ul>
For more information go to the website for the <a target="_blank" href="https://rgdirections.lpi.nsw.gov.au/deposited_plans/easements_restrictions/sec88b_instrument">NSW Registrar General's directions about section 88B instruments</a>.
I will check to see if there are restrictions to multi unit or dual occupancies on the land. I understand that council may still approve a development contrary to a section 88B instrument restriction such as dual occupancy. For instance, if the land zoning allows for dual occupancies under council’s local environment plan and development control plan, then council may approve your DA. However be prepared for some retribution from the land developer or opposition from neighbours.
Sewer diagram
This can be the most important check. The water authority will issue a sewer diagram. I opened a contract for a house on a large block this week only to see it had no connection to the sewer.  This may seem odd but it was an older property and was built before sewer was available to this location.
To connect the property to the sewer may be very costly. The connection point can also indicate the fall of the land as the sewer connection will always be at the lowest point. Depending on your development plans, you may need to extend the sewer line a considerable way and this will impact on costs. Also, look out for sewer junctions and manholes which will add complication to a development site.
I assessed a property that looked like an awesome development site; it had a good house facing one street on a large block with a second street frontage. There was room to build a duplex facing the other street. But after seeing the sewer diagram I just laughed, there were three sewer lines all connecting to one junction in the back yard.  You couldn’t build over that.  Or even if you could, the amount of piering around the sewer lines required would add crazy costs to the project.
So that’s my five main areas I look at in a sales contract, it only takes a few minutes but I can tell in a flash if the site is worth pursuing or not.

<hr>
Jo Chivers is director of <a title="Property Bloom" href="https://www.propertybloom.com.au/" rel="nofollow" target="_blank" style="font-size: 14px;">Property Bloom</a>, which manages property development.
 
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Contract of sale - five vital checks to see if your development plans are worth pursuing: Jo Chivers

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A few weeks ago we completed a dual occupancy project for our client. It was a typical corner block development where we built two freestanding, three bedroom, single story villas and a two lot Torrens title subdivision (pictured below). Our very studious client chose to sell one and keep one as after completing a law degree, she decided she’d like to start a degree in medicine (bless her).  So she asked Property Bloom to help her appoint a selling agent and assist in the process of sale.
<img src="/images/stories/2013/10/17/chivers-oct-17-one.jpg" width="470" height="231" alt="chivers-oct-17-one">
The villa she kept was leased quickly. I’ve calculated she took about a 15% discount in rent than she would have achieved about 18 months ago (before the ‘mining slowdown’). Not too bad really.
For the villa she was selling, the first thing we did was get three sales appraisals.  Not surprisingly, they were all a little pessimistic (due to the ‘mining slowdown’) but one agent was more optimistic and open to achieving the valuation figure than others.  Next we managed the styling of the villa to present it in its best way.  I’m a strong believer in styling or staging when selling.
Within one week of listing she had an offer very close to the asking price which was higher than the independent valuation. I was very pleased and it made me reflect on reports that the Hunter Region was now at the mercy of what everyone seems to be referring to as the 'mining slow down'.
Terry Ryder <a href="https://www.propertyobserver.com.au/news/do-your-research-newcastle-is-still-a-great-place-to-investterryryder/2013101465694?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=copyofhotspotting'sterryryder" target="_blank">most eloquently addressed</a> this week a question from an investor asking about what to do given the ‘end of the mining boom?’
The end of the mining boom?  Property Bloom has worked in the Hunter Region for over 10 years and I love to research the local economics closely.  What I’ve found recently is interesting.  I’ve heard comments bantered about: "we’re headed for recession”, “there’s no jobs”, “the mining boom is over” and the most bizarre: “China’s stopped growing!” 
In the meantime, every time I drive to Muswellbrook, I am seeing nonstop coal trains heading for Newcastle Port. Someone is digging this stuff out of the ground and loading it on the trains.
What the Hunter Region is doing is adjusting to the ‘new normal’.  
We’ve seen over the past few years a response to the large increase in commodity prices and the terms of trade, and investment and employment in the resource sector grow strongly. This placed upward pressure on prices and wages. Wages rose more rapidly in the mining industry than in the rest of the economy since the beginning of the terms of trade boom.
All of a sudden, young trade apprentices were being lured to the mines by outrageous pay; this was key in facilitating the reallocation of labour between sectors.  The mining industry could afford to pay the higher wage rate and so draw labour away from other sectors.
This saw builders and other industries that utilised tradies suffering the loss of labour.
Now the mines have moved from the more labour intensive expansion phase where we saw a vast investment in transport infrastructure, such as the soon?to?be?completed Hunter Expressway and the upgrading of the rail links for coal, and considerable private investment in community infrastructure such as shopping centres and also in the expansion of some mines.
Now that phase is coming to an end, we move to the less labour intensive supply phase. I hear that the other sectors, mainly construction are enjoying a choice of highly skilled labour (thanks to the training in the mines) which may mean these other sectors now have capacity to increase production.
So I think there is a redistribution of labour going on, rather than a drain on the region. Whilst some mining employees will move away to other mining locations, others will stay and find new employment (or go back to their old jobs). Their new jobs may not be paying the high rates as the mines had in the past and so the property rental market must adjust, tenants can no longer pay the ever increasing high rents investors were happily achieving over the past few years.
The region is effectively experiencing the downside of the preceding exceptional upturn. The purchasers of our villa are first home buyers who are happy to get the $15,000 NSW First Home Owners Grant as they are buying a new dwelling, and both are working in good, local jobs that are not in the mining industry.
In reality what we are seeing is less growth than we’ve had over the past few years, but still growth.
And investors are also adjusting their expectations. But you know what? The yields being achieved now are still higher than they were before the mining boom, plus there has been some good capital growth so what’s the big deal?  We all need to adjust to the 'new normal' and put things into perspective. Simon Deeming, director of Research of the Hunter Valley Research Foundation, coined the phrase ‘new normal’ in the <a href="https://hvrf.com.au/images/HVRF_Publications/UHEI_June2013.pdf" target="_blank">Upper Hunter Region Economic Indicators, June quarter 2013</a>.
As my friends from the <a href="https://hvrf.com.au/download-publications" target="_blank">Hunter Valley Research Foundation</a> so well summarise below:
“The economic outlook for the Upper Hunter requires perspective. Relative to the construction phase of the coal industry’s expansion, the prevailing period and the short term outlook, feels profoundly soft, as the stimulus for suppliers and construction employment wanes. The passing of the construction phase is being overlaid with the cost efficiency drive...The Region is effectively experiencing the downside of the preceding exceptional upturn and the indirect benefits for other sectors are now being felt as losses. In line with this transition, business expectations for the Region’s economic outlook over the next three and 12 months remain pessimistic. However, relative to business activity prior to the boom, this perspective seems exaggerated.
“The Hunter Region is emerging from this cycle with a larger productive capital base in the mining, trade and accommodation sectors, a more highly-skilled workforce, which is increasingly cost-sensitive, and a larger employment and population base from which to progress. In the meantime, a period of adjustment remains before the ‘new normal’ becomes established. Assuming this rationalisation is modest, the economy will emerge larger than pre-boom, albeit that this base, the ‘new normal’, is yet to be found.”  
Here’s to the new normal, a strong emerging economy and to my studious client for such a quick sale on her villa. Now all she needs to think about are her medical studies.
 
<hr>
 Jo Chivers is director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
 
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The next phase of the mining boom, Hunter Region adapts to the new normal: Jo Chivers

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Property developing can throw many different challenges at you and one thing I have learnt after managing over 60 developments is that there is always a solution to a problem. The trick is to understand what possible issues could arise and preparing yourself for them.
You see, the development process is not an exact science because every development site is different.  So the construction costs will rarely, if ever, be the same from project to project, even if you are using the same plans.
Some sites will need more retaining than others based on the fall of the land, others may need more concrete due to the length of the site and then there are the projects that have things lurking below the surface that could never have been imagined.  We once uncovered an old asbestos shed that had been buried many years ago. This did not come up on our geo technical report and had to be removed as contaminated rather than normal waste.
Sometimes if you develop in the same areas, you can work out after a few developments, what is likely to happen.  You may be able to base your estimates on say the soil type as you’ve developed in that same estate.  This can mean similar slab piering will be required as an example. You understand what council is likely to approve and the fees and charges. That’s what experience brings to the table.
But sometimes things don’t 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 the allowance 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.
When designing our villa plans, 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.  
<img alt="chivers-oct-3-one" height="263" width="470" src="/images/stories/2013/10/03/chivers-oct-3-one.jpg">
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 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.
 
<hr>
 Jo Chivers is director of <a title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">Property Bloom</a>, which manages property development.
 
 
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Determining your construction costs at the outset of your development: Jo Chivers

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This week I’ve been renovating, not for a client but my office.  It really needed a clean out and freshen up. Lots of files – the old kind filled with paper – have been archived and I had our painter come in and in one day the office was transformed. As part of the process, I purchased some new furniture - a sofa and storage cabinet from IKEA.
I had already been pre-warned by my husband not to buy IKEA as he wouldn’t help putting it together. Alas, the project manager came out in me and after I fell in love with one of their sofas and I thought I’d just hire someone to do it.  I knew the frustration is just not worth the effort. Or is it?
<img src="/images/stories/2013/09/27/jo-chivers-sept-27-chair.jpg" width="470" height="288" alt="jo-chivers-sept-27-chair">
Have you heard of the phenomenon called the ‘IKEA effect’?
It’s when you put your own blood, sweat and tears into assembling something, but once completed you sit back and admire your work, taking pleasure in knowing you helped create it. Most importantly, you then put a higher value on that product than if you walked into a shop and purchased it off the shelf. This is what researches have dubbed the ‘IKEA effect’.
Research conducted by Daniel Mochon, of Yale University, and Dan Ariely, of Duke University showed that the increased value is not just about effort, but about completion.  An experiment had subjects given a task of building an IKEA box. Researchers then implemented prices on the objects built with the intention of observing if the test subjects were willing to pay more for the boxes they built themselves as opposed to those already built.
When subjects had to build-then-disassemble the box due to error or didn’t finish the project they received no such value benefit.
It’s important to know that the boxes being built in the tests were fairly straight forward, but what would happen in more complex situations?  Would someone even try and attempt assembling an item if they thought it was going to be too hard?
This got me thinking about property development.  A lot of people believe developing is hard as there is a perception of risk associated with the word ‘developing’.  What Property Bloom does as property development project managers is to remove a little of the perceived risk by offsetting it with our knowledge and experience.
Client satisfaction is a benefit of our service as our clients have the opportunity to be involved in their development project but not to the extent that it would overwhelm them. Clients decide on the site purchase (after our feasibility is presented to them), they decide whether they want any changes to the floor plan (after we design the optimal plan to work on their site), they may choose a colour scheme for their project and then we manage all the fine details; that can at times be as frustrating as putting together a lounge from IKEA.
At the end of the project, our clients can sit back and know that they have developed this piece of land and they have created value and a solid investment.
During our project management process, clients receive a weekly update report with photos showing them the progress made that week on their development and the milestones met and the ones coming up.  So whilst they may not be able to visit their site weekly, we do and bring it to life for them in a document that can be kept and referred back to when they may go on to complete their next project themselves.
Their level of involvement also gives ownership in the project but it’s really the fact they have taken action and that they are moving closer to meeting their investment goals even if they took the easy way and hired a project manager to save them some frustration, much like I hired a man to assemble our furniture.
Our clients are a bit like me who is now enjoying sitting on that sofa lounge but all I had to do was to choose the colour, pay for it, arrange delivery then I paid someone to assemble it for me. I knew it could be done faster this way than me trying to work out what to do.
 
<hr>
 Jo Chivers is director of <a style="font-size: 14px;" title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank" rel="nofollow">Property Bloom</a>, which manages property development.
 
 
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"The IKEA effect"; building something of your own brings enormous satisfaction: Jo Chivers

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A dual occ is a dual occ right? 
Well yes, but there are quite a few different ways to create a dual occupancy (dual occ) development.
Firstly, the definition of a dual occ is simply two dwellings on one allotment of land.
The dwellings may be houses that are attached or semi-attached. One house may be old or existing and you build a new dwelling, or you may move an older house onto land with a house on it already. Even adding a granny flat is determined as a dual occupancy.  Or you may buy land where you build new dwellings.
A dual occ may consist of single or double story homes. The new dwellings may be houses, townhouses, villas or townhouses.  They may be attached or detached. If attached, the dwellings make up part of a duplex.  If detached, they will be known as freestanding.
At Property Bloom, we have developed so many dual occs that I’ve lost count.  For our projects we look for three different types of development sites and they fall into three categories:
<ol>
<li>Corner sites. We usually build single story freestanding villas or houses on a corner site with each dwelling facing a different street.</li>
<li>Standard sites. We look for a minimum width of 20m and may build one freestanding villa behind the other.  Usually accessed by a common driveway known as a ‘battleaxe’ handle.  Or we will build a duplex – two attached villas which may face the street or the duplex may run length ways along the site.</li>
<li>Dual streets frontage sites.  Freestanding villas can be built, one facing each street, depending on the size of the site, we may also build a duplex if there is limited area to work with. </li>
</ol>
Below are photos of some different dual occupancy projects build on different sites.
Corner site dual occ with two freestanding villas each faces a different street:
 <img src="/images/stories/2013/09/20/chivers-sept-20-one.jpg" width="470" height="210" alt="chivers-sept-20-one">
<hr>
Dual occ with freestanding villas and a common driveway:
 <img src="/images/stories/2013/09/19/chivers-sept-19-two.jpg" width="470" height="208" alt="chivers-sept-19-two">
<hr>
Attached villas as part of a duplex on corner site: <img src="/images/stories/2013/09/19/chivers-sept-19-four.jpg" width="470" height="215" alt="chivers-sept-19-four"><hr>
Standard site with attached villas as part of a duplex: <img src="/images/stories/2013/09/19/chivers-sept-19-one.jpg" width="470" height="215" alt="chivers-sept-19-four"><hr>
Dual street site with existing house and plan shows the new dwelling:
 <img src="/images/stories/2013/09/19/chivers-sept-19-five.jpg" width="470" height="236" alt="chivers-sept-19-five">
 
<hr>
 Jo Chivers is director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
 
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Different sites for different types of dual occupancy projects: Jo Chivers

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This week Property Bloom finished a fabulous little renovation.  It was an ugly house where we removed a few internal walls, opened the living spaces and created another bedroom.  We added a nice timber deck entrance and we’ve worked hard to keep costs down using a kitchen from Bunnings (that looks gorgeous), recycling the original bath and laundry tub, tiling around the terrible 70s fireplace, paving an unappealing outdoor space to make it more usable and polishing the beautiful floorboards we discovered under the old carpet.
This renovation was all about pushing the yield of the property although we’ve defiantly added a bit of value along the way.  You see this property was purchased specifically because of its attributes for adding another dwelling; not for the existing house’s appeal.   The house is on a nice flat corner block with plenty of room to add a garden villa.
The property cost just $209,000, we spent about $30,000 on the renovation and it will now rent for $295 per week, but the real value will be in the second dwelling we add. For a cost of about $105,000 we will build a two bedroom villa and it should rent for around $280 per week. So the combined rent will be $575 per week and the cost of the property, renovation and building new dwelling is around $350,000. This gives a gross yield of 8.5%.
At the same time, we’ve been running some numbers on a much larger renovation project.
We have a client who asked us to manage a ‘renovate and sell’ project.  Normally, we’d be looking to add value through renovating and adding more new dwellings and subdivision. In this case, the brief was to find a good house that we can simply add value through renovation. Our client wants to sell immediately to make a gain.
My initial thoughts were that this strategy is risky.  Risky because we’ll only be adding value to an existing property. It can only work if the property cycle is in the right stage.
After some reflecting and discussion with my team, we needed to determine if we were in deed at that ‘right’ stage or not.  Our client also needed to do his own due diligence on this.
The reason Property Bloom does not normally manage pure house renovations is because in my opinion, this development strategy relies on the market moving upwards. It also needs some very keen negotiations to buy as low as possible, so you can’t be buying in a ‘hot’ market. The trick is to pick the market so that you can buy well, renovate and ride the upswing as you sell.
Also, some very well planned renovations are required. The latter we can manage, but the direction a property market is moving in, especially in the early stages, really comes down to an educated punt.
Now that the long awaited election is out of the way, the government is fresh, I have a feeling 2014 is going to be a great year for property investors. I feel we’ll see some strong demand to buy because interest rates are low, sentiment is high and there is pent up savings that we’ve made during the GFC that might be burning a hole in our pocket.  Property yields have been performing well and really, why wouldn’t you invest in property right now?
For this large renovation, we’ve found a wonderful federation style house with beautiful features. The location is second to none in this large regional town. We’ve identified that a second bathroom can be added, a new kitchen with some great features such as stone benches, decent brand appliances and ceiling high cupboards (as we are working in the upper end of the market on this one) will be required and a fabulous facelift to the property. Special preparation and painting with some very well thought out designer paint colours inside and out, not just a quick coat of paint, is needed. It’s said that higher priced properties generally combine three or more colours on the exterior. This will give us the ‘wow factor’ from the street.
This renovation strategy is all about attracting an owner occupier buyer hopefully with high emotions. For this renovation and sell development strategy to work, I think it will come down to a combination of buying well, in the best location possible, savvy renovations and an emotional buyer to make our client some good profit. Stay tuned and we’ll let you know how it pans out.


<hr>
Jo Chivers is director of <a title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">Property Bloom</a>, which manages property development.
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Is it the right time of the cycle to renovate and profit? Jo Chivers

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Last week it was confirmed, beyond my belief, why the Hunter Valley in NSW is such a wonderful place. And it has nothing to do with developing property, but rather about enjoying it.
I had decided to stay the night in the Hunter Valley instead of driving up and back to Sydney in a day.  It’s a three hour drive from Sydney to Muswellbrook or a two hour drive to Cessnock or Maitland.
Normally, once a week as part of my business day I would pack up my lunch in an esky, leave Sydney around 6am, to arrive at our building sites in Muswellbrook, Maitland and Cessnock for a long day of development site inspections.  During these inspections I may meet with the builder’s site manager and check all milestones have been met for the week and see what was coming up for the following week. All of this along with photos is written up in a report to our clients.
Property Bloom is currently project managing many developments across the Hunter Valley, but not all of our projects are under construction. Typically, my day would be spent inspecting a mix of dual occupancies, three villa projects, house renovations and granny flat developments. I’d also inspect any potential development sites; meet with land developers or agents and my builders.  I’d get home pretty tired and hopefully to a nice dinner prepared by my hubby.
This time, I decided I’d spend the night in the Hunter to ensure I had time for a few extra site inspections and scheduled meetings. And was I glad I did.
Whilst the Hunter Valley offers nice big five star resorts and hotels, I wanted to chill out in a more relaxed bed &amp; breakfast type setting.  I found a gorgeous little cottage called Little Orchard at the Tallavera Grove winery estate, home to the famous <a href="https://www.bistromolines.com.au/" target="_blank">Molines Bistro</a>.  
<img width="470" height="262" alt="chivers-spet-5-five" src="/images/stories/2013/09/05/chivers-spet-5-five.jpg">
The owners Sally and Chef Robert Moline are quite famous and have won many awards for their French cuisine. I’d taken my team to lunch there and was blown away by the wonderful food and scenery.
As I pulled up, just as the sun was setting, I was rewarded with a breathtaking view from the crest of a hill, down to a valley brimming with century old vines and rolling, green hills dotted with cattle crazing.  Wow, it really made me smile and relax.
<img width="470" height="269" alt="chivers-spet-5-one" src="/images/stories/2013/09/05/chivers-spet-5-one.jpg">
I settled into this lovely two bedroom, two bathroom cottage with its adorable eat in kitchen and fabulous little 1950’s dining setting and started to explore.  A warm, welcoming fire was crackling in the wood fire combustion heater and I sat in front of it with a glass of nice wine poured from a bottle given to me upon arrival. There was some beautiful artwork to explore and lots of books and music to entertain me. 
A basket of farm produce lay on the kitchen table for my breakfast in the morning; stewed rhubarb and homemade goat’s yoghurt, eggs, prosciutto, organic button mushrooms, chocolate croissants and a massive French bread stick!  I’d purchased a few not so exotic items to cook myself for dinner, not worrying too much knowing the gourmet breakfast ingredients waiting.
<img width="470" height="251" alt="chivers-spet-5-four" src="/images/stories/2013/09/05/chivers-spet-5-four.jpg">
After a refreshing night’s sleep, I woke early and walked down into the valley with my camera and took a few photos of the fog slowly rising over the valley. It was truly a spectacular sight.
After my breakfast, it was time to hit the road again.  The small amount of time I’d spent in this country retreat (with no kids!) felt equivalent to a few days away.  I stopped in at Molines Bistro for a coffee that would sustain me for the morning.
<img width="470" height="254" alt="chivers-spet-5-two" src="/images/stories/2013/09/05/chivers-spet-5-two.jpg">
As I drove from one development to the next, I mused at how lucky I was to work in such a beautiful part of the world, yet how little time I’d spent over the years actually enjoying the location.
What’s the old saying?  Stop and smell the roses. That’s what I did last week; I smelt the sweet scent of the wonderful Hunter Valley and all that it has to offer from a tourist’s perspective instead of a developer’s perspective.
<img width="470" height="245" alt="chivers-spet-5-three" src="/images/stories/2013/09/05/chivers-spet-5-three.jpg">
<hr>
Jo Chivers is director of <a style="font-size: 14px;" title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank" rel="nofollow">Property Bloom</a>, which manages property development.
 
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The benefits of developing in the Hunter Valley: Jo Chivers

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You’ve got to the stage of receiving your development application and construction certificate consents and you construction finance is in place.  You are ready to start building.  So just how long does the construction phase of your development take?
It’s an important question as you are now down to the pointy end of your development; it may have already taken you six or even twelve months to get to this stage.  You are very keen to start reaping some rewards for all your hard work.  Soon your investment will be earning an income from either rent return or sales proceeds.
How much longer do you need to wait for these rewards?  I guess this is like asking, how long is a piece of string?  Because the answer will depend on many factors such as:
<ul>
<li>
The number of dwellings you are building – single house or multi unit development?
</li>
<li>
The type of construction process; slab and brick, timber floor and walls, prefabricated or partially prefabricated materials used.
</li>
<li>
The size and degree of difficulty of the structure.
</li>
<li>
The weather, how many rainy days will there be?  The site condition, will it be too muddy to work on after small amounts of rain?
</li>
<li>
Material and contractor availability.
</li>
<li>
The builder’s ability to manage his contractors – his relationship with his trades and communication skills.
</li>
<li>
The knowledge and experience of those managing the project.
</li>
<li>
And any issues that may arise during the development process, i.e. hitting rock when excavating and dealing with council inspections.
</li>
</ul>
Generally speaking, the build phases on Property Bloom projects range from a dual occupancy project being completed within four months to a four villa project being completed in six months.
It’s important to have a good idea of how long your builder has taken on other, similar projects.  I have found that it will come back to how organised they are with their ordering and planning systems and their site managers.
Property Bloom currently has construction under two builders and being able to compare them is interesting.  We found some DA approved sites for our clients that were owned by a large builder and so as part of the contract, we had to use this builder.  It’s our first time using this builder.  So one builder is a big national and internationally owned company and the other is our usual local Hunter Region builder. I won’t say too much, but I know why we continue to use our local builder!
<a target="_blank" href="https://www.propertyobserver.com.au/developments/it-s-important-to-have-a-strong-relationship-with-your-builder-jo-chivers/2013040460168">It’s important to have a good working relationship with your builder</a> to ensure the construction phase flows smoothly. Understanding their internal processes will help you also plan how long the completion of your development.
<hr>
Jo Chivers is director of <a title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">Property Bloom</a>, which manages property development.
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How long should the construction phase of your development take? Jo Chivers

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Jo Chivers

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