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When we receive a client’s Development Application (DA) Consent it’s always an exciting time.
Receiving council approval is one of the major milestones of a property development and it should be celebrated. But the champagne and toasts can wait because there is one thing you must do immediately.
Should you send it to your builder?  Yes, but it will also need to go to other consultants
Should you file it safely? Yes, it’s a legal document so keep it safe.
But before you do this, the first thing you need to do is check the conditions of the DA.
You’ll see in the Consent a number of conditions. The one I’m reviewing right now; a consent for two attached dwellings and Torrens title subdivision, has 58.
58 Conditions that we need to make sure we’ve allowed for in the building costs, plans and our development processes.
There are usually three main areas that the Conditions relate to and must be satisfied by:
<ul>
<li>Prior to the issue of a Construction Certificate (CC)</li>
<li>Prior to the commencement of work and during the construction phase</li>
<li>Prior to the issue of an Occupation Certificate (OC) or a Subdivision Certificate</li>
</ul>
The very first condition that my eyes scan for is the one relating to the Section 94 Contribution.
This is a council charge that goes towards the provision of public amenities and services within the locality. In our area, it’s only charged for a dual occupancy or larger projects, not for a single house build.  
I call it a ‘cost of doing business’ and it’s usually several thousand dollars, this one I’m reading now is for $12,822.53. but we knew it would be about this much and had allowed $12,900 in this client’s feasibility, and so we are covered. This fee will be different not only by council, but by suburbs. Some suburbs (under the same council) need more infrastructure spending and the Section 94 can cost up to $30,000. For obvious reasons, we do not develop in those locations. That is a lot of money to be giving to council for the privilege of building new dwellings. There is no intrinsic value in a Section 94 contribution cost. So the lower the better. Don’t be surprised by this cost, you can find out before you buy a development site what council are likely to charge you, so do your research.
Once I’ve checked this major cost against our allowance, my eye scans the rest of the conditions that must be met prior to the CC being issued, as we don’t want to hold up this process now we have our consent. Property Bloom always uses a private certifier to issue the CC as we know it is much faster than using council.
There are a few relating to the stormwater management and we will have our engineer confirm our stormwater plan is meeting these. The rest of the conditions in this section are standard. We must send this DA Consent to our private certifier as he will be the one making sure they are all covered off on the CC plans.
Next I scan the rest of the conditions. The ones relating to the construction phase are all standard and relate to things the builder needs to cover off like vehicle access crossings to the site and how it should be constructed, signage, waste management on site, work hours etc.
The next section shows the conditions that need to be met before an OC will be issued. This is very important as we don’t want to be holding up tenants moving in on completion. Most of these conditions again are standard but be careful as sometimes there will be particular reports required such as a Works As Executed report which needs to be done by an engineer or surveyor after the drainage system is in place and completed. It takes our surveyor just a few days but if forgotten can hold up your valuable rental income.
The other important condition is to check when you can apply for the subdivision certificate. In this case, it’s at Lock Up stage, which is great and means we can usually have the Torrens title subdivision completed as we finish construction. Very important if you are refinancing as the bank will value the two separate registered titles higher than both dwellings on one title.
There may also be a section where a number of conditions fall under refered to as “Advisory Matters”. These conditions usually relate to state planning policies and work place practice.
Make sure you check your Consent carefully, then send it to all the relevant consultants and get everyone started on the next phase of your development journey, obtaining the Construction Certificate consent.  Then sit back for a few minutes and celebrate passing this exciting milestone.
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
 
 
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The one thing you need to do when the DA consent is issued: Jo Chivers

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We have just completed this fantastic corner block duplex project for our client Bob in Newcastle. 
Total cost of project; includes land, DA and CC consents, Torrens title subdivision, full turnkey construction, legal fees and stamp duty:  $785,143
Both villas sales price (have exchanged now):  $1,035,000
Equity created within 14 months (before any tax applicable):  $249,857
Return on Investment in 14 months after project management fee: 19.6% 
Key highlights of this project:
•      The villas have uninterrupted views
•      Equity creation $249,857
•      ROI within 14 months is 19.6% (after PM fee deducted)
•      Both villas sold before Handover
 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a><a href="https://www.propertybloom.com.au/">.</a>
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Creating equity in a residential development: Jo Chivers

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“Hey Jeff, just wanted to let you know that I’ve transferred some money into my super account, can you tell me the best place to invest it right now within the fund?”  This was a question I asked of my financial planner yesterday.  It was that time of year when I had to make the obligatory transfer of money into my managed super account to meet requirements as an employer (to myself).  Each year I struggle with this: transferring cash into my super then watching it disappear into the deep, dark hole of the managed super fund then opening my bi-yearly statement to see it has disintegrated!
Jeff said, “Well, Australian equities are good buying right now (translation: because the market is so crap), so we’ll just put it in there.” So that’s what we did, dumped some money into shares, and I will now await my statement to see how that investment performs.
My next question for Jeff was, “How far out of retirement should we start moving money out of the more risky areas and into the safe havens or defensive stocks?” While I’m not at that age yet, I don’t want to end up like a lot of retirees at the moment who have lost buckets of their retirement funds in the poorly performing share market because they were caught out with the impact the GFC had on their super.  They’ve been forced back to work or to rely on the government pension. Jeff recommended that we should look at transferring into the safer areas, such as cash about 10 years before you are looking to retire.  Wow, so for 10 years we have to cop a low return on our money just to play it safe?  The alternative is to run the risk or losing a fair chunk of it.
Gosh, a lot can happen in 10 years in property, I thought.
Reading my mind, Jeff said, “Jo, with your experience in property, why don’t you set up a self-managed super fund and then you can just invest in property?”
He thought that to be a really good bet.  The fact that I’m already holding a substantial amount of property didn’t seem to faze him, but I always thought it best to diversify.
So I thought this an interesting topic to ponder on today: just how much property do we need to retire comfortably? I picked up my favourite property magazine and saw on the cover the headline “Retire Richer and Sooner” – OK, what have they got to say?
The headline story was titled “Get Rich from Regional Australia”.  Of the nine regional towns they highlighted as having the best capital growth potential, two were from the Hunter region of NSW.  Property Bloom tracks the long-term growth of suburbs we develop in. I pulled up my graph on a particular town that I just had Residex update for me.  I track the quarterly median value and the volume of sales in this postcode. There was a very nice upward trend with varying degrees of peaks since March 1996 when I started the tracking. I personally bought into this particular town in 2001. Looking back over the past 10 years I saw the median price was $114,500 in March 2002 and in March 2012 it was $250,268. It had grown 119% in this 10-year period.
That 119% says it all, really.  I know where I’m putting my retirement funds.
My retirement strategy is to buy and hold but with one very important twist and that is to add value.  The property I purchased in 2001 in this town has increased by 119%, but I also renovated and developed the land, adding more dwellings, so the yield on this property is also very high.
Property Bloom is always looking at development strategies that will add value, increase yield and create equity. We have one very new strategy that we are adding to our portfolio now that will mean clients make an 8% yield on an affordable investment. It will also give good depreciation for those still working.  The NSW government is also helping us with this strategy by throwing in $5,000, as it sees the need to boost housing in this state.  If you’d like to hear more about this growth strategy then let me know, I’ll be covering it in more detail on Property Observer soon. It just might be what you need to boost your retirement fund.
Jo Chivers is director of <a target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.</body></html>

Investing in property through a self-managed super fund a good bet to retire comfortably

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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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There are times in the development process that just seem to drag on and on. One of these irritating drawn out processes is the period after the Development Application (DA) and Construction Certificate (CC) are approved but before construction can commence.
After the approvals are received, our clients are then able to finalise their construction loan. Prior to this they have received a preapproval from their bank. For their construction loan to be unconditionally approved, the bank requires all supporting documentation.  This includes stamped plans, consents, signed builder's contract and insurance along with other personal documentation confirming your income.
Property Bloom is in this process with several of our projects right now and it's like riding a bike from a smooth bitumen road into a sand dune. 
The momentum and excitement that builds as we received the DA consent from council gathers speed by the use of a private certifier to fast track the CC process.  So it's just a week or two before we usually obtain the CC consent from lodgement.  It's then the builder's contract is issued to clients for signing and a copy is given to the bank together with the other required documentation to finalise their construction loan.
Then we hit the sand that bogs us down, slowing momentum. The banks will take their time processing the loan but it's also the application of the Home Builders Compensation Fund (HBCF) policy, formerly known as the Home Warranty insurance that slows the process. HBCF is required to be raised by the builder and covers their client for losses arising from defective and incomplete work where the builder becomes insolvent, dies or disappears.  
In the past we were able to apply for this insurance as soon as the CC consent was issued, however now the insurance company wants a copy of the signed builders contract and this adds another two weeks to the process as we need to wait for clients to review and sign the contract.
Even once the bank has all they need, including the insurance policy, it can take them another two weeks to issue the authority to commence construction to the builder. We cannot commence construction without the bank's go ahead in writing.
Two weeks here and two weeks there can all add up. When you are relying on third parties there is little you can do apart from be a 'squeaky wheel' and keep calling to see how the application is travelling.
One way to accelerate the process is to avoid using a construction loan. This may not be an option for most developers but if you have enough cash or equity available in other properties then you can look at the option of setting up a line of credit and funding the construction from this. Always get accounting advice on this. The big benefit is that you will avoid the headache the paperwork can cause and you won't be waiting around for the construction finance approval. 
Finally, construction may start as soon as you've signed the contract and the HBCF insurance policy is issued. We have found this to save approximately 6-8 weeks off the time frame of a development. It also has benefits on completion and fast tracks the handover process.
Jo Chivers is Chief Executive Officer of property development project managers <a href="https://www.propertybloom.com.au/about">Property Bloom</a>.
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How to accelerate the pre-construction phase: Jo Chivers

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I received a call from a novice property developer the other day and thought I'd share his dilemma.
He'd purchased a duplex site and had just received a set of plans and had a builder quote on the plans. He couldn't understand why there was so much allowed for in "site works". 
I looked over his quote for him and could see that his builder hadn't itemised out many costs. Our builder's quote or tender has about 75 itemised inclusions.
I explained to the caller that there was probably a lot of items included in his "site costs".  
Site works cover a few different things. Some builder's refer to them a pre-construction works or simply excavation works.
After the site is pegged out by the surveyor, excavation will start. If the site is relatively flat, this may just involve a 'site scrape' which will remove the top layer of grass and bushes. If there are trees on the  site, the excavator can sometimes knock them down or you may need to have these cut down and removed before the excavator comes to site. If so, make sure you leave about a meter or so of the tree stump above the ground the excavator will be able to pull up the root systems. All this vegetation has to be disposed on, so land with a lot of bush and trees is more expensive to prepare as disposal of debris will depend on the dump truck's load size or weight.
If the site is sloping then there will be much more work required to cut the site. There will be excess soil to remove. This is included in "site works". Mostly there is a Provisional Allowance for this work which means you may pay more or less than the allowance, so it's important you have a builder who is experienced and accurate with their allowances. The builder Property Bloom uses is often giving credits for these works as I would rather have them over allow than under allow.
So back to my caller… I advised him to ask his builder to break down the costs for him that were included as "site costs" that way he could more clearly see what was included and understand the process.
This leads me to site selection and comparing development sites.
Last week we took a client with us to inspect two dual occupancy sites that we were told would be coming onto the market shortly. They were in the same suburb but different locations. The suburb profile really stacked up, a high proportion of owner occupiers, good sales references for comparable properties, lots of government and council spending on infrastructure and community services and high rental demand.
The two lots were pretty similar in size, both large enough for a dual occupancy development but there was one major difference. One lot had about a 3m fall from the rear to the front and the other lot had a very slight fall to the rear boundary.
The two lots were the same price. The lot with the 3m fall was in a slightly better location, closer to community facilities in the area and our client said our client liked that land better than the other.
However, after walking over both sites, I explained our choice was the other lot. This was because of the savings on site costs. The slight fall to the rear did not worry me as the sewer and drainage systems were already in place there. The fact that this land would need less cut, less spoil removed and most importantly very little retaining was why I liked it so much.
The land with a 3m fall to the street would require more cut and fill work, perhaps even the use of dropped edge beam slabs and also retaining walls. Unfortunately, these works add no intrinsic value to your development. You won't get any more rent or a better sales price if you have high retaining walls, in fact higher walls can detract from the appearance of the private open spaces.
So choose your site wisely and ensure your builder has a good track record with estimating the allowance required for site works.
Jo Chivers is Chief Executive Officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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How site costs impact your development: Jo Chivers

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Australia has one of the most residentially mobile populations of any country. This means we don't mind moving house.
Researchers refer to this as Net Internal Migration, or NIM. With so much attention focused on Sydney's hot property market and the rapid growth in the city's house prices recently, it is easy to see how regional migration starts, as people move from cities to regional areas.
We are already seeing many families priced out of Sydney looking for more value for their money. This migration pattern has been creeping up into the Central Coast and Newcastle over the past few months.
In fact, Newcastle experienced the second largest influx of domestic migrants between 2010 and 2011.
According to the Australian Bureau of Statistics, in the 2010-11 period Newcastle was second only to Perth in receiving the highest amount of people moving from other capital cities.
Newcastle was also the sixth highest net gainer of domestic migration as a percentage of its population between 2006 and 2011.
With Newcastle experiencing some of Sydney's spillover, there seems to be a local problem emerging.
Some Novocastrians are now looking to do the same and eyeing off other areas within the Hunter Region in which to start their families. A quick search online for houses for sale around $400,000 in Newcastle throws up a few apartments and small, unrenovated two bedroom homes on very small lots.  In Sydney of course, the pickings are much slimmer.
Rachael Brecht from Jurds Real Estate in Cessnock says: "We have been getting more enquiry from Newcastle and the Central Coast buyers. We even see some Tree Changers coming from Sydney. They are looking for good quality renovated houses with large backyards and good schools and good sporting and shopping facilities.  We have all this and more in Cessnock with the beautiful Hunter Valley vineyards and their world famous cafes and restaurants at our doorstep, we really do have lots to offer."
She's currently marketing a three bedroom house on 800 square metres of land, with a price guide of $399,000.
With the Hunter Expressway now offering quicker access, you can be in the Newcastle CBD within 50 minutes. Cessnock is a two hour drive from Sydney. There are good local employment opportunities, as in this city which has a population of over 54,000, there is a strong, diverse economy.  The health, tourism, retail, manufacturing (wine) and training and education industries are the <a href="https://economy.id.com.au/cessnock/Employment-census" target="_blank">highest employers in the area</a>. 
For buyers from Sydney or Newcastle a three bedroom house on 800sqm of land for $400,000 is very good value. When you combine the low interest rates we are experiencing now, then this may be a great way of getting ahead.
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The search widens for families priced out of cities

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Getting started on your property investment journey can be daunting. I'm reminded of this when I hear from people who haven't yet been able to take that step forward. 
It's something that comes naturally to me now after sourcing many properties and development sites for our Property Bloom clients but I can still remember very clearly my first investment property purchase. Man, was I nervous!
Some people seem to be able to make a quick (yet still educated) decision and others 'think' about it for weeks, months and sometimes years. Being decisive is a great skill to have. 
I had a call the other day from a lady who said she'd been following my articles on Property Observer for years but couldn't ever get to the point of making a decision on how to buy her first property, where to buy it and how much she should spend. 
In this time, she watched the Sydney market rise and rise until it was virtually unviable to her as an investment option. Then she was kicking herself for not getting in earlier.
The one thing I wanted to communicate to her was to "take small steps".  Break down the process so that it doesn't seem so overwhelming. 
Start with your finance. How much can you borrow and service and how much do you feel comfortable borrowing? Once you have a budget then you've taken the first step. 
With that budget in mind, look for locations with a median price point around the same as your budget. Choose a few different suburbs in this location and then spend time in these suburbs. Drive around, hang out in the shopping centre, study the people who live there. Strike up conversations and ask about what they love about living there... and if  there are any streets they wouldn't live. What are the schools like and are there good community facilities like sporting fields, skate parks, playgrounds, places for families to enjoy. 
Once you get a 'feel' for the area and the people living there, then start some more detailed due diligence on the local economy, job opportunities, infrastructure projects, council's long term plans for the area, population growth, recent past sales, rental returns and vacancy rates. Attend auctions and talk to real estate agents about what tenants are looking for.   
There that's the next step taken, and all of a sudden you've become very knowledgeable and narrowed down the suburb where you'll invest.  Follow the sales market in the streets you like and you'll soon know what a good deal looks like. 
Remember to look for development potential in a property; can you add value to it either now or in the future?  Search for large block sizes, dual access points, houses you can add a bedroom or upgrade the kitchen or bathroom to increase the rent.  Property located in a medium density zone means you'll have more options later to develop it. Find property that is close to shops, on public transport routes and within a short drive to the central business district or to the closest city.  
Finally, get ready to move quickly. When you find a property that ticks all the boxes and with a finance preapproval under your belt, you can confidently make an offer.
Don't be disappointed if you miss out as all this adds to your experience and there will be other properties that come up soon. By going through this process you'll establish relationships with locals and agents and soon that first small step will lead to an investment property purchase. 
Jo Chivers is Chief Executive Officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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Small steps will lead to big things: Jo Chivers

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Subdivision is one of the many ways you can develop property. It involves converting one piece of land or existing dwellings into several.  
Raw land subdivision entails legally and physically converting raw, undeveloped land into developed land so that one or more buildings - residential, commercial or industrial - can be constructed.  As you will be changing the lands usage and appearance for example perhaps from a rural rezoned paddock into a residential land subdivision, you’ll also be building the infrastructure required such as roads, paths, drainage systems, water, sewerage and perhaps even public utilities such as a park.  
You can also subdivide developed land (much more easily) by simply splitting a block in half.
Subdivision of existing buildings is the conversion of a single title to multiple titles. For instance, a block of 10 units on a single s title - often referred to as units ‘in one line’ – can be converted into individual titles such a strata title. This is a great way to add value to the properties and allows you to sell them off individually.
Subdivision is a great development strategy for the current market conditions.  It gives you flexibility to play is safe and sell off a newly created piece of land to reduce your loan, or to hold and add value to the property by registering the new lots and holding or further developing them. 
The objective here is to have a creative outlook while searching for potential subdivision sites as it is this creativity that can determine the success of the development.
So when would you subdivide?
An investor might buy a dwelling that is on a large piece of land, where they can renovate a house and then subdivide or perhaps you are a homeowner living on a potential development site where subdivision may be permissible. The site will however, need to adhere to the council regulations.  The first question you need to ask council is ‘what is the minimum lot size?’  You can find this out from your council’s Development Control Plan (DCP) for Subdivision and their guidelines.  The minimum lot size will vary from council to council and from different zonings. 
The residential minimum lot size will be smaller than the rural zoned land size.  One council Property Bloom works with has a residential minimum lot size is 450sqm.  So we can subdivide a 900sqm corner block into two lots. However, if we had a 900sqm piece of land that was not on a corner, then we could not subdivide this, as we also need to allow for a driveway to access the back lot and the area needed for the driveway is in addition to the minimum 450sqm.  So we need a block of land approximately 1100sqm in size to be able to subdivide and allow for our access handle.   Another type of property to look for is land with two street frontages, so if it is 900sqm in size and the minimum lot size is 450sqm you can literally cut it in half and each lot will have its own street frontage. 
Different types of Subdivision
When looking to develop with subdivision, it’s important you understand the different types of subdivisions. Getting professional advice will help you to make the best decision for your site and also which potential purchase will make the process through council the smoothest. 
Strata Subdivision – Dividing a property into separate units, apartments or villas.  Strata is land title based on the horizontal division of air space and may involve common areas shared by each title holder and usually managed by a strata manager.
Torrens Subdivision – Dividing one land lot into two or more separate land titles. This form of subdivision gives the owner complete autonomy with their land as they don’t have to answer to the strata manager or adhere to certain strata rules and regulations.
Community Subdivision – A development with common property such as roads may be used by all residents. 
The Figures
When budgeting for your subdivision you’ll need to start with a realistic target for how much the completed development will be worth, and then subtract costs to calculate profitability. It’s important to run a feasibility analysis on the subdivision including possible costs for stamp duty, legal fees, surveyor services, council application and developer charges, civil works and service connections such as gas electricity and water.
Make sure you also discuss your subdivision strategy with an accountant and understand the tax and GST implications if you are planning to sell.  You will also need to estimate your holding costs such as interest on your loan and rates. Remember, if it’s a straight land subdivision you won’t have an income from the property to help offset your holding costs, so time is literally money in this type of development. 
Location
Getting the location right can either make or break your development success. Research is essential to ensure you are developing property where people in that area want to live. You have to totally remove yourself from the development as you won’t be living in it, your target market will be.
Inner cities are limited with the availability of land so in this case strata division is being created through developments.  Looking at a radius of a few hours outside of a capital city allows you to be more creative in your development. There may also be more room for growth in the outskirts especially if there is investment in infrastructure taking place in that area. 
Choosing the Right Property
<ul>
<li>The first item you need to properly assess a potential subdivision site is a survey. It’s amazing how many sales contracts I review that do not include a survey.  You may need to pay for this before exchanging as you need to be sure of the land size and whether there are any easements affecting it.  </li>
<li>The next item I always ask for is the sewer diagram. You need to know where the sewer is located and if it is actually feasible, based on the slope of the land, to cost effectively extend the service to service a new lot. </li>
<li>You need to check the slope of the site for drainage issues.</li>
<li>Check the aspect of the site and think ahead of where any new dwellings will sit to take advantage of the aspect.</li>
<li>Research the zoning regulations and read council’s subdivision guidelines.</li>
<li>Compare market value – is vacant land in demand?</li>
<li>Check service connections – is there sewer available in the area, is there an electricity source close by?</li>
<li>Corner blocks are good for your first subdivision </li>
<li>Structure of Property – this is important if you are developing a strata division as the building will need to be structurally sound to handle the requirements such as firewalls between units.</li>
<li>Have your solicitor check for restrictive covenants or easements. You may find land in a new estate has a covenant over it that does not allow for further subdivision.</li>
</ul>
There are many more things to consider when planning a subdivision, so make sure you engage professionals to assist you if you’re a beginner. A development project manager will be able to work with you on every stage of the process and you’ll be amazed at how much you learn along the way. 
Jo Chivers is Chief Executive Officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>. 
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Understanding subdivision: Jo Chivers

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It's hot, I'm sweating and in the middle of cutting a very good deal. 
This time it's not with a vendor or real estate agent  - I'm not buying a development site - but the negotiation is fierce and taking place with a Thai business woman who owns the stall where I'm buying a much wanted ornament.
I'm on holiday in Thailand with the kids and a trip to the local markets has reminded me of how important it is to negotiate in the correct way to get the best deal. I'm also trying to train up my sons in the practice of negotiation. 
Here everything is up for negotiation. I'm using my proven formula that works not only when I am shopping in Thailand but  also when I'm making offers on development sites and negotiating with builder's, consultants and tradespeople. 
I'd set my sights on a pair of wooden, silver plated elephant ornaments (I know, customs will have a field day with these!).
I'd shopped around and knew what I wanted to pay (completed my due diligence).  I'd asked a few questions about how her day was, what her name is and if this may be her first 'morning' sale. The last question is key as if so, it will bring her luck for the rest of the day (so I'd gathered intelligence and established a relationship). 
Rather than make an outlandishly low offer which I know would insult the Thai sales lady, I politely make my offer with a wide smile on my face but with serious eyes. The offer is a bit under half of what she's quoted. I back it up with a few good reasons. "I saw this one for sale down there for less" or "this one is not as big as the one they are selling there".  After some fun interchanges and much tapping of numbers on an old calculator back and forth, we came to a mutually suitable price and everyone was happy. I have my silver plated elephants and she has a good price. 
I use similar techniques when making offers on properties. At Property Bloom we study the market to establish what the property should be worth, we look at its last sale price and find several comparable property sales to back up our offer.  
Understanding the unique benefits of a property will help you put a value on it. For us, the value lies mostly in the land, it's location and what's under it, not what's on top of it. 
Property Bloom has established relationships with agents and they know our clients are serious buyers that won't muck them around. Our clients have their finance preapprovals in place and can move quickly to secure a property if the numbers stack up and we know it will make a great development site. We'll ask questions about why the property is selling and what the vendor expectations are.  
But there in one major negotiation tactic that always comes into play. It's making sure there is something in the deal for everyone. 
If the vendor is making something from selling and our client is set to make something much more from developing, and if there's a bit for the agent or the person who has referred us, then we can cut a good deal. 
Usually these types of negotiations involve much less  sweat than the ones done in Thailand.
As I start to leave the stall hugging my silver plated elephants, I hear the Thai lady sing 'kob koon Ka' (thank you) as she waves me good bye and adds,' you come back soon?' confirming that she'd like to do more business with me. The same goes for our property deals, we'll always be back for more if the numbers stack up and there's something in it for everyone. 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>. 
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Don't sweat the big deal: Jo Chivers

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

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Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

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ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

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For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

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Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

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Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

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Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

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Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

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The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

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The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

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Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

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Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

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Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

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Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

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Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

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The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

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The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Jo Chivers

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