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As a property developer, one of the most valuable relationships you will have is with your builder.
There are several developers that Property Bloom works with, but we have a very strong relationship with our main builder and through this we find our work gets priority.
I have a negotiated discount structure in place for my clients and we often receive information on new <a target="_blank" href="?option=com_googlesearch_cse&amp;q=land%20releases">land releases</a> via our builder before land is registered. This lets us reserve the best dual occupancy or medium density sites.
Communication 
It’s very important you have open communication with your builder.
Establish a good relationship with the site manager, who you will work very closely with.
Ensure you know what stage the building works are at and meet the site manager on site regularly to check progress.
The site manager should alert you to any issues that may arise during the building works, particularly those that may add costs.
If this happens, work out a strategy to keep building works moving forward as there is nothing more frustrating than having to stop building works whilst you sort out an issue.
 
Different stages of construction
This will come with experience but it will help if you know what comes next as the building works progress.
Generally there are five major stages of <a target="_blank" href="?option=com_googlesearch_cse&amp;q=land%20releases">construction</a> and once each stage is completed, the builder will issue an invoice for payment.
You will pass this to your bank and sometimes they will send a valuer to check each stage before paying, but in most cases they will wait for the final invoice and send their valuer to check the building works have been completed before they release the final payment to the builder.
1. Slabs laid
2. Frame and trusses
3. Roof and brickwork
4. Internal linings and timber mould out
5. Final and practical completion
Once the final payment is received by the builder, there will also be a handover, which involves the keys and warranties and other important documentation being given to you.
It’s important for you to understand what happens within each of these stages.
It’s no good deciding you want to change the position of the shower or bath if the plumber has already done his rough-in.
A rough-in is installation of the drain, waste, vent, and supply lines to proposed locations of each fixture.
Also, if you are handling any items directly, such as the installation of air conditioning, you may want to have the pipes positioned in the walls or roughed-in before the internal linings stage (which is when insulation and plasterboard is installed) as this will give a better finish.
 
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Completion and occupation certificates  
Earlier on in your project you should have sourced quotes for the finishing touches such as fencing and landscaping.
Whilst I always have the builder include this in their tender, often we can save money for our clients by bringing in our own contractors.
If you do this, keep close track of time so that you can have these works finished to coincide with the handover and the final inspection by the private certifier or council.
There is nothing worse than having to hold up the occupation certificates, waiting for the landscaper or fencer to finish their job.
Some builders may not allow outside contractors on site until after the handover. If this is the case, have your contractors primed to avoid hold-ups.
Once all building works are completed to plan, you can apply for the occupation certificates. But well before this, you should show agents through so they can provide rental or sale appraisals.
Whatever you decide to do, you want to engage an agent as early as possible so they can start marketing and find tenants or buyers quickly.
It is at this stage, too, that you should order your depreciation schedules, which will ensure you maximise your tax return.
Simply pass on the schedules to your accountant when preparing for your tax return.
New buildings will maximise depreciation benefits and any professional consultant fees – such as a property development project manager like Property Bloom or architect fees – can be taken up in the depreciation of your development and are claimable as a capital works allowance (division 43).
Our relationship with our builder means that Property Bloom projects get completed as quickly as possible and that we are all working together to achieve the same result: high quality yet cost-effective property developments.
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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It's important to have a strong relationship with your builder: Jo Chivers

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Property Bloom is just completing a three-villa development for a client in Muswellbrook. Under this council’s requirements we needed to design one of the villas for people with disabilities. The villa needed to be adapted to ensure that a person with disabilities could live there comfortably.
Some of the requirements included a kitchen bench designed so that it can be lowered, wider hallways, wider doorways with lever handles, wider access to the shower with a small ramp so a chair may be wheeled in, powerpoints located higher on the wall and a ramp with railing at the front for a stepless entry.
When first told of the requirement, our client saw this as a disadvantage, thinking that the villa would be less marketable than the others. However, as we’ve worked through the building of the development, I can see the opposite. This villa looks more spacious and I think the small adaptations will add value to it.
We have an ageing population where at some time in our lives we are going to want to live in easily accessible homes, with no stairs and wider access for our walking frames or wheelchairs. In addition, almost 20% of Australians have a long-term disability. As the Australian population ages, this percentage will increase.
As we age, we want to live independently for as long as possible, so having more <a href="https://www.propertyobserver.com.au/news/australian-housing-still-least-affordable-in-the-world-despite-recent-improvements-fitch/2013010958698" target="_blank">housing</a> specifically designed for the elderly and disabled makes sense. An accessible home is about freedom – freedom to move about with ease and confidence, knowing that regardless of our circumstances we can remain relatively independent.
Too often our homes are not equipped for changing needs, from raising small children, to welcoming or looking after <a href="https://www.propertyobserver.com.au/demographics/how-australia-s-ageing-population-will-affect-residential-development-peter-chittenden/2013011458755" target="_blank">ageing</a> parents, to recovering from a sporting injury and needing to use crutches or simply finding that the stairs are steeper than they used to be.
Designing an accessible home will not only produce a sustainable home but one you could live in comfortably for a lifetime. This could not be more relevant than now. As our demographics continue to change, there will be more demand for such housing.
More people than you might imagine unexpectedly need accessible housing. My husband, for example, recently needed a knee reconstruction after a surfing injury. We have two flights of stairs in our house, which did not make it easy for him. Australia-wide almost 22,000 people annually have orthopaedic knee surgery. My mother has had two hip replacements and so I can see the benefits that a well-designed home can deliver. Even bringing a pram into my house when I had my babies was tricky with our narrow hallway.
When designing, remember to integrate the adaptable housing components, do not isolate them or use a different standard of materials and finishes and the house will look less like a nursing home. This was our concern for the front entrance ramp and so we designed the balustrade to tie in with our slat fencing than go with the one that the draftsman had used on the plan which did look a little hospital-like.
One last thing to consider as well that I hadn’t thought of, even though my uncle is in a wheelchair, was carpet pile heights. Can you imagine trying to wheel through a thick carpet?
Embrace adaptable design and you may just find your developments in high demand.
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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Ramping up adaptable design for the aged: Jo Chivers

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I love hearing the life stories of others and especially our clients. Our initial chats give us in insight into our client’s achievements and goals.
They tell us about what they do, where they’ve come from and where they want to be. We have such an interesting and wonderful group of clients and each has a different reason why they love property and what motivates them.
I’d like to share Alison’s story with you. Alison and her husband are both in the Australian Army and have just returned back from serving in Afghanistan.
While she was away, Property Bloom has been managing a granny flat development for them.
Sadly, during her time away, Alison endured some horrific things with fellow soldiers killed in action in the terrible circumstances in late August 2012, when five Australian troops died.
We were so proud to have members of the Australian Army as clients and are grateful for their work overseas serving Australia.
Alison:
“We first started investing in 2009, just after Harry and I got married.  We had just made a very 'grown up' commitment to each other, so thought we'd better extend that idea to other parts of our life and really plan for our future.
We purchased an apartment in the inner city suburb of Spring Hill in Brisbane via auction over the phone (we were living in Sydney).
I had started to listen to some podcasts about property investing and eventually came across a mentoring program which I signed up for and we spent a year learning an enormous amount and gaining amazing confidence and skill.
It was at this point that my partner Harry learned he would be deployed to Afghanistan for the majority of 2012. Shortly afterwards, I was posted interstate away from Harry, and then told I was to deploy to Afghanistan as a communications specialist in the second half of 2012 as well. We found ourselves in the position where we were keen to invest, but not in a position to be active in the short-term.
Whilst we had been actively investing, purchasing a house on the NSW central coast on a 12-month delayed settlement with a plan to renovate and on-sell following settlement, and four high-yielding houses in growth areas of New Zealand, we still wanted to use our savings to work for us while we were both overseas.
I had heard an interview with Jo Chivers on an 'Everyday Property Investors' podcast and liked the idea of learning to develop, with the convenience of a project manager. We also liked the idea of investing in the expanding Hunter Region of NSW. After contacting Jo, we realised that the Property Bloom property development project management service would be perfect for our situation.
We had the cash, but not the contacts, or the ability to cultivate contacts. We had the idea to develop, but not the ability to visit local councils and real estate agents.
We asked the Property Bloom team if they would be able to project manage with both of us in a war zone and they were incredibly supportive. Harry and I were both based in Tarin Kowt and had semi-reliable access to internet, e-mail, scanning and printing facilities. Through perseverance, patience and understanding form the Property Bloom team, we were able to continue to progress our Granny Flat project. Not only were Property Bloom understanding when we were unresponsive for a couple of days, or when the turnaround time for signing paperwork was more than a month, but whenever the news of a tragedy in Afghanistan hit the Australian media, Jo and her team would send us messages of support and condolences.
This support meant as much to us as the project management service they were providing for our development.
As you can imagine, developing property from a warzone is a challenge but would have been near impossible without the help of a project manager. The more obstacles we faced, the more our project manager rose to the occasion to help us. We are so grateful - not only because they have helped us secure and develop a fantastic property, but also because they are professional and incredibly genuine people.”
I really cherished the updates we would get from Alison occasionally when she had email access and was amazed at some of the conditions she had to endure including no running water for days – how is a girl to wash her hair!
But what amazed us the most was the huge commitment that Alison showed to continuing their property investment journey, by being able to continue with her project with all the other distractions she would have experienced in Afghanistan.
Alison and Harry are now securing their next development site on their own and we wish them all the luck in the world and are glad to have them home on Aussie soil again.
Alison’s story is a lesson in determination. She didn’t let anything get in her way, not even a war.
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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Don’t let a war get in your way when investing in property: Jo Chivers

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Happy International Women’s Day... oops sorry, did I lose a few blokes with my first words?
I hope not because it’s 2013, not 1973.  Blokes now are much more understanding and supportive of our ability and achievements. There really has been some momentum gained.
This year’s theme for <a href="https://www.internationalwomensday.com/" target="_blank">International Women’s Day</a> is: The Gender Agenda, Gaining Momentum.
It’s actually not that long ago that at our first Federal Election in 1901, only women from South Australia and Western Australia were entitled to vote. So women in all the other states were not allowed to vote.  The other states did slowly followed yet it took Victoria another six years to let women vote.
The first woman to win election to an Australian Parliament was in 1921. Now, in 2013, we have Australia’s first woman Prime Minister. I’m proud of Julia Gillard’s achievement as a woman (not necessarily as a politician), but you don’t hear the blokes saying "gosh that Johnny Howard made me proud when he won the election." It was expected of a male. Wouldn’t it be lovely to keep the momentum up and see more women prime ministers?
Fast forward several decades. In 1974 the minimum wage was extended to women; wow, that was only 39 years ago.  So before this, women were not entitled to the same minimum pay as men.
Whilst we have laws attempting to create equal pay and equal opportunity for women it does not automatically transpire. This was one of the reasons I started my own business. After many years in the corporate world I witnessed much bias. Starting out as a secretary, I used to look forward to having one of my own when I climbed the career ladder. But when I was promoted to these roles, the males had access to support but there was no chance for me having any admin assistance. Perhaps I should have pretended that I couldn’t touch type!
By the time I was ready to have kids, I looked around the office and couldn’t see a way to keep my high-flying corporate role and start a family. I’ve seen business women continue with their corporate careers only to find it’s been an unwitting sacrifice for the opportunity to have children.
But one thing that drove me to keep working whilst raising my kids was the thought of taking ten or even five years off work, then I would be totally dependent on my husband not only during that period but also into our retirement. There would be no contributions made during this time to my superannuation and how could I keep investing in property if I had no income?
My choice to start my own business was to get the flexibility needed to be a mother but also to hold onto my independence. Whilst my husband is a generous man, I had flashbacks to my childhood when my mother would have to ask for her ‘housekeeping money’ from my father each week. Dad was generous too, but to me it represented mum’s dependence on dad. She seemed happy with this setup, but mum had no money of her own, nothing to dip into if she wanted to purchase a little treat for herself or for us kids.  To me, it meant: no money, no independence.
I think there is good momentum with the ‘gender agenda’ but I think it’s up to us to keep our own personal momentum. Women need to take responsibility for their own retirements and plan ahead.
One of my clients is doing just that, in fact I’ve never seen such momentum. Rachel has four children and worked (past tense… keep reading and you’ll see why she had to stop work). In her ‘spare time’ she also studied accounting by correspondence!  When I met her she had already purchased nine investment properties but wanted to move into property developing to propel her portfolio. Property Bloom had just completed a dual occupancy development for Rachel and started a granny flat project when she found out she was pregnant with twins. When she was rushed to hospital and the twins were delivery prematurely, she still found time to close her finance deal so construction wouldn’t be delayed.  She is an amazing inspiration and example of a woman who is focused and won’t let anything get in her way, not even six children!
Momentum comes to those who have done the hard yards. Momentum is an increase in energy or force when something is on a roll. I can see it happening in my business and I can see it happening with women’s equality. So keep moving forward in your world, keep asking for more pay, keep pushing for community projects, keep celebrating achievements and the momentum will carry on for our next generation of women.
Jo Chivers is director of <a rel="nofollow" href="https://www.propertybloom.com.au/">Property Bloom</a>.
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There is momentum in the push for gender equality: Jo Chivers

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After the passing of my father two weeks ago, I’ve found myself pondering a lot of things. Things I’ve learnt from him and things that I want to teach my sons.  Dad didn’t teach me by sitting me down to explain anything, he simply did his thing and I watched. At the time I didn’t even realise I was taking it in, but now looking back, his work ethic and attitude shaped mine.
When writing his eulogy with my brothers and sister, it was truly amazing to recognise all the different jobs he worked to make money. He seemed to always have an idea for creating some extra income, like when he was a milkman: he saw an opportunity to sell hotdogs to the farmers at the co-op where he picked up his milk, as they’d been up early to get the milk to the city and were hungry. So he kept a pot of hot water with the hotdogs and bread rolls in his truck and after selling out, he’d then start on his milk deliveries.
Another example was when he bought a white LTD car – with four kids he needed a big car. But he also used it for chauffeuring weddings on his weekends after working all week in his own tyre-fitting business.
Dad didn’t go to uni or study, everything useful he learnt was from doing it.
While I did go to uni years ago I don’t really use what I studied now.  Everything I learnt about property development has been from doing.  When I remember back to my first development, I really had no idea what I was doing, but I learnt from my builders and my surveyor and my tradies by asking lots and lots and lots of questions and then having a go.
When I made a mistake, I learnt not to do it that way. After 60 or more developments under my belt, I am still learning from each one because they all bring something a little different to me. These differences make up my experience.  I learnt to develop property by doing and repeating and then refining the process.
I see lots of people wanting to learn about property by completing more and more courses, doing more and more seminars.  Like my dad, I believe the real education comes from doing; it comes from the experience that you will take away from what you do.
Jo Chivers is director of <a title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank">Property Bloom</a>, which manages property development.
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You learn property development and investment by doing, not studying: Jo Chivers

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During my week, I get sent many potential development sites to assess.  I have a system that enables me to do a quick check before seriously considering any site.
My quick assessment looks at:
<ul>
<li>Location </li>
<li>Size</li>
<li>Slope or gradient</li>
<li>Aspect</li>
<li>Price</li>
</ul>
I’ll expand on these so you know what I look at.
Site Location
Obviously the first thing I’m told or see from the email is what town the land is in. If this town is one that we develop in or in a town we want to develop in I continue. We have preferred towns based on rental demand, sales values and growth history, where my builders will work and what the councils are like to work with. Once the town is approved, we look at the location of the site within the town. We know where the housing commission areas or other undesirable locations are, so we will rule a site out based on this. On the other hand, we know the premium areas of our towns, and I’ll get excited if the site is within these areas. They might be near major shopping facilities, hospitals, schools and parks.
The road or street the site is on is assessed next.  Busy/main roads are usually out and quiet roads close to amenities are in. New subdivision estates are good as long as they have been planned well and there is a limit on dual occupancies within the estate.
Size of site
The square meters we require will depend on the development strategy of our client. We need larger sites for medium density, 1,000 square metres or more for three-unit developments (single storey). For a detached dual-occupancy project we like corner sites around 750 square metres plus. For attached dual-occupancy projects, we only need around 600 square metres, although the width of the frontage is very important.  For our granny flat developments we like 800-square-metre-plus sites with dual access and the position of the existing house and whether it’s a complying site is very important.
If a site has passed the first two checks above, we move on and look at:
Slope or gradient of the land
This can be hard to tell unless we are standing there looking at the land or have a contour survey; beware photos, as they can be deceiving. We don’t like sites with more than about a one-metre fall but will consider them based on the price of the land. The more slope to a site, the higher the site costs such as retaining. If we can get the land cheaper, this will help offset the higher costs. Ideally a relatively flat site is best as long as there is adequate fall to the sewer line and we can drain to the street.
Aspect
We can quickly assess this even without a survey. Here’s a good tip: just look up the address on Google maps or in the street directory and check the compass rose on the page. Then visualise where the units will go and where the internal and external living spaces will be. An ideal site will have the living spaces facing north.  Aspect is not a deal breaker as long as the site is ticking all the other boxes and we will still proceed.
Price
Of course the price of a development site is important. But there is no point even looking at the price if the site hasn’t met the criteria above.  We have a good understanding on building costs for our developments so we can run a quick analysis now and see if the land is priced well. If not, we will let the developer, vendor or agent (whoever has offered it to us) know that the project is simply not viable at that price. If they are not negotiable then we’ll leave it.  It won’t sell to an experienced developer, although it may sell to an inexperienced one.
I can make the assessment above within about five minutes if we have a contour survey.  If not, I’ll call my builder’s nearest site manager and ask them to drive by and check for me if I’m not in the area.
Once we are happy with the elements above, we report back to our client and ask them to look into their conditional finance while we then start our more detailed assessments with council and our builder before negotiating the purchase of the site.
Jo Chivers is director of <a title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank">Property Bloom</a>, which manages property development.
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The five criteria to determine whether a block is suitable for residential development: Jo Chivers

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My story today is dedicated to my dear dad, who sadly passed away recently. I wanted to share something he taught me as a child and young woman and that I have used throughout my life and in my business.
He believed that with persistence and determination you can accomplish anything. I learnt quickly how to use determination to achieve what I wanted.
Dad was an entrepreneur. Not in the jet-setting sense of the word, but he was a hard-working jack of all trades. He was always looking for opportunities and was more than happy to take a few calculated risks; he was determined to do well.
Dad immigrated to Australia from Holland after World War II.  He served time in the Dutch Marines. But before he signed up, during WWII he was captured by the enemy and taken by train to work in Germany. He was only a teenager, but he escaped by jumping off the train in France and walking all the way back to Holland. It took him weeks and he lived on next to nothing. His determination carried him.
In Australia he was most industrious and very independent; he didn’t want to rely on anything but himself to make a new life. He arrived in Adelaide and worked in the fire brigade. He rode a motor bike across the Nullarbor Plains on the dusty, rough unsealed road it was back then.  He worked as a share farmer picking apples and pears in Batlow, one of NSWs major fruit-producing towns.
Then he met my mum.  After that he started a milk run in Sydney’s notorious Kings Cross, he used to give the working girls a lift home, so I was told!
In his next business he worked on the F3 Freeway when it was under construction, breaking through the massive rock walls with his excavator. I remember playing on what we used to call the “digger” as a kid. Finally, he started a tyre business on the northern beaches of Sydney, which he ran for many years before retiring.
Dad had a subscription to business magazine BRW, which I used to read from cover to cover after he’d finished with it, I would have been about 16. While he was a man of few words, one thing he liked to talk about was money. When I got a new job the first thing he asked was, “how much are they paying you” My sister had a delicatessen business and she always copped, “so, how much did you take today?”  I think this really helped focus us on making money.
There was certainly a big influence from dad to work hard and not bludge.  He had a colourful way of talking about those who he thought were not pulling their weight.  So that is exactly what we kids did: work hard. We all had various part time jobs while still at school.  My brother went on to study medicine and is a highly regarded specialist in his field, my sister still owns her successful delicatessen business, and my younger brother scaled great heights within the NSW Police Force. At the same time, we’ve all raised families and invested in property.
When I stated investing in property it made dad proud. He’d done well from building his own home. Paying just $12,000 for a big block of land and only another $50,000 or so to build their house years ago, they made a pretty penny when they sold it.
Whenever I saw dad in the last few years he’d say, “Well, you’ve done well, Joey”. He loved to hear about the properties I was buying and the growth of my business.
Now that I look back over the past 12 years of so, it was hard to start a new business and build it at the same time as raising kids. It was hard to hold onto property when it would have been easier to sell.  But now I realise it was my determination in not failing that saw me through, and we are now reaping the rewards. I was determined to do well and make my dad proud.
Thanks, dad, for giving this to me.
‘Dick’ Marius van der Griend
1923 – 2013
Jo Chivers is director of <a target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
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The power of persistence and determination, in property investment and everything else, will get you far

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It’s been about 12 years since I started my business. Within this period I’ve established many business relationships.
The thing that I’ve really learnt is that relationships are extremely valuable.  Not shallow, B.S. relationships but good, strong established relationships that can only really be made with time.
As a property investor and developer, having good relationships can propel you further than you could imagine. Just this week, my relationship with one of my builders gives my lucky new client the opportunity to purchase a choice development site. This site is owned by my builder’s company, and they’ve been sitting on it for a little while, land banking.  The beauty of this deal is that Property Bloom has already completed a development in the same subdivision for another client. This project was one of the best results we’ve achieved to date, with the creation of over $220,000 in equity in just over a year.  So I knew it was a hot site, I knew what the build costs would most likely be and I knew that my new client could never find a deal like this himself.
The benefit to my client is time and risk minimisation. Because the land is not on the open market, we have the time to spend looking closely at the project. This development site has been offered to me exclusively. I now have the luxury of time to show my new client the land and take him through the project analysis. If this site were to hit the open market, that luxury is removed and there would be a rush to secure the site. This is where errors in the analysis process can be made, when there is no time to properly assess a site. The price of the land can also be driven up by multiple parties.
Here’s another good example of how a strong relationship helps both parties. We have a preferred real estate agent in one of the large towns in the Hunter region we develop in. This agent is savvy. He also understands the value of relationships. He’s been building one with me for 12 years.  He will call me as soon as he has a good development site, before it hits the open market; he knows what I’m looking for. I know where I stand with him when we are negotiating a purchase.
In return, I refer him business – because he’s a great agent, I have no hesitation in recommending him. He has offered our clients a good discount in property management fees and so he and his business has become our preferred agency in this town.  We scratch each other’s backs.
From our arrangement, he gets all of my client’s properties to manage.  Believe me, I would not refer his business to my clients if he didn’t have the best property management team on staff, and he does.  There were a few years when he took a break from the industry, sold his agency to one of his staff, and I never heard from that new owner again. The relationship he had worked so hard to build was easily broken by the new owner when he didn’t call. I didn’t have faith in the business so I stopped referring it. The new owner didn’t understand the value in keeping the established relationships. I'm glad to say, my agent resurfaced in a larger town a few years later and has worked hard to be one of if not the best agent in this area. We were back in business.
Our business relationships are precious and we nurture them accordingly. As a reward, our clients get priority service from several of our suppliers, our pest and building inspector, our surveyor, our architect, our certifier, our builders, our trades – plus we get to work with an awesome team of people who we respect.  You can’t buy this, you need to build this, and it all comes together with time.  Over time, you work out who you need, who you can rely on and most importantly, who you like doing business with.
Jo Chivers is director of <a target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
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Strong relationships the cornerstone to successful property investment

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I met an interesting chap today.  He has developed property before and is experienced but was looking to fast track his property portfolio this year.  He also owns and runs a large business and doesn’t have the time needed to focus on property developing. Although he loves it, finding suitable sites was time-consuming. He needed some help because he understands too well the rewards developing can reap and how time equals money.
I’m happy to say that our meeting today may have made him $110,000 and we haven’t even located a site for him yet!  I’ll explain how.
He is currently holding two development approved dual-occupancy sites, and one of the questions he asked me was “Jo, should I build my approved duplexes or sell the land DA approved? Which will make me the most?”
A good question to ask.  His strategy was to accumulate property quickly and hold for the long term, but what was most important for him was to create equity. So, what scenario would be more profitable?
To build or not to build, that was the question.
I thought I’d nut it out for you today so you can see how I answered him.
OK, firstly you need to know that the approved site he was thinking of selling is part of a prior development. He had purchased a large block of land with an existing, yet run-down house. He gained approval to build a duplex behind the house and subdivide, essentially cutting the block in two. He has already completed this part of the development. Then he gained a second approval to demolish the old house and build another duplex on the newly created lot at the front.
He wanted to know if he should sell the front lot off with approval or build the duplex and keep them or sell them.
There are several considerations:
<ul>
<li>Capital gains tax if selling the villas</li>
<li>GST if selling the new villas</li>
<li>Selling costs if selling the approved land or the villas</li>
<li>Costs to get it to development application approval and almost construction certificate approval</li>
<li>Maximum equity that can be created</li>
<li>Yield if he held all four villas</li>
</ul>
Remember he had developed the block originally and the old house was renting for $180 per week, which helped cover holding costs so he could easily sit and land bank if he wanted to.
He paid $200,000 for the land with original dilapidated house; it was on a large block with separate access at the back.
The cost to build the duplex at the rear of the house was $350,000, including subdivision costs.
The two villas he built were valued at $300,000 each.
So on this part of the development, his cost was $200,000 (land) + $350,000 (build) = $550,000.
Remember the two villas are valued at $300,000 each. So he’s made $600,000 less costs of $550,000.
His equity is only $50,000 so far, but he still holds half the land with the old house on it.
 
<hr class="system-pagebreak">
 
If he wants to sell this DA-approved land, he needs to consider how much the next person will make. You can’t just pluck a figure out of air and sell the land at this price. It’s important to work backwards so that there is something in the deal for the next person otherwise you won’t sell.
I estimated that he would need to sell the land around $170,000 for the purchaser to build the duplex ($350,000) and to make a profit.  $170,000 + $350,000 = $520,000.  The value of two villas is $600,000, so there is $80,000 in it. That’s not enough for everyone to be happy, but if a builder buys it he may be able to construct for less.
Note, I haven’t included other costs such as stamp duty and holding costs, so we are looking at very rough round figures. Based on this, his gross profit at this point (roughly) is $50,000 in equity after building the back duplex plus the $170,000 land sale. So $220,000.
But, if he held the land and built the duplex he would be much further ahead.
Original land cost: $200,000
Build back duplex and subdivide: $350,000
Build front duplex $320,000
Total cost $870,000
Total end value if each villa (four) is worth $300,000 each: $1.2 million
$1.2 million to $970,000 cost = $330,000 in equity.
So he’s creating around $330,000 in equity vs. $220,000 if he sold
(Less costs on both sides, so again I stress these are rough figures).
He can create an additional $110,000 or so if he builds and holds.
He told me that the three-bedroom villas are renting at the back for $320 per week (which is actually low in this market and should be at $350 each). With four villas returning $320 per week, that equals $66,560 per year. The total cost of the project if building the four villas is $900,000. This means the gross yield 7.4%.
So he could achieve a 7.4% gross yield plus make $110,000 if he holds.
I won’t go into the sell scenario as there are too many costs to include. It’s very important that if you develop to sell that you work closely with your accountant to consider costs such as capital gains tax and GST when selling. Anyway, this chap’s strategy was to hold if he builds. So the yield and equity creation was more important to him.
I hope this makes sense. The numbers can be hard to follow and obviously need to be much more refined than what I’ve used above but this may give you a gist of how you can make good money from developing if you make the right decisions.
Jo Chivers is director of <a target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
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How to determine whether to build on your land or sell it

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“Aaahhh….” That’s the sound I made when watching Hugh Jackman receive his Golden Globe Award this week for best actor.  I was impressed with the credit he gave his wife Deborra-Lee Furness for helping him keep faith.
Keep faith?  A talented and experienced singer, dancer and actor, yet he admitted he had doubts and lost confidence during rehearsals for Les Miserables. The man is not only truly amazing but honest.
Jackman nearly quit due to feeling overwhelmed and unsure of himself.
"Three weeks before we started filming, we had a terrible day of rehearsal, a humiliating day. I came home to Deb and I said, 'It's time, I've gotta ring him [director Tom Hooper] and tell him there's someone else to take this role.
"I really thought I'd bitten off more than I could chew … My wife talked me off the cliff – thank you for always being right, baby," he said.
Wow, even Hollywood stars want to give up some times. It just goes to show how human he is. Yes, Les Miserables would have been a very ambitious production for anyone to take on, but look at what Hugh achieved by pursuing the role and getting on with it – with the support of his wife.  Not only did he win the Golden Globe for best actor, but he’s been nominated for both an Oscar and a BAFTA award.
What a great example of taking on a challenge, conquering fears and using the support of others to help get through to the end.  And look at the rewards he reaped.
So what unnerved him?  Jackman must have thought about the risk. The risk of not doing his best, the risk of doing something he had never done before, the risk of failing.
We all have doubts at some time or another.  While I’m not comparing a property development to a musical movie adaptation, I couldn’t help but reflect that property development can seem just as daunting.  When developing, you really don’t get “rehearsal time”; it’s just a matter of good planning and then taking action.
I have seen people give up on their property development, quitting when they have hit a dead end with the council. Quitting after starting a renovation and not realising just how big a job it really was. Quitting after not hiring the right people.
As development project managers, it’s our role to manage the fears of our clients and the risks of the project.  With risk comes reward.  It can be a big decision to take on your first property development.  But once our clients make that decision, we move them forward quickly. They start seeing results quickly and realise that development can be a good challenge and they don’t have to do it alone.  Often the hardest thing is to make the decision to start.  If you have the support of someone to help you then you won’t feel alone. So enlist a friend or hire support in the area you need it and keep moving forward.
The start of a new year is a great time to stop procrastinating and commence that project you’ve been researching for so long. Have faith and use support like Hugh Jackman did.  You too could end up with an award-winning result.
Jo Chivers is director of <a title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank">Property Bloom</a>, which manages property development.
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The importance of faith, or what Hugh Jackman can teach us about property development

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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