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One of the first things Property Bloom looks at when starting our design work on a development project is not the style of dwellings we'll build or what materials we'll use...it's something a lot less glamorous but vitally important.
We look at how to maximise the site area. As part of this, the boring old retaining wall comes into play.
 When we assess a site we need to consider if the site will need retaining - most do - even the sites will very little fall will need some retaining after the site is cut - so we need to think about where the retaining walls will be built and the costs associated with building them.
In a perfect world, it would be great to build a retaining wall right on the boundary and share the cost with your neighbour (if their site needs retaining too). In new land estates we can easily negotiate this with our neighbours, however we need to consider more than getting the best result for both our clients and their neighbours.
We need to check with our local council to see  if they have specific requirements around  retaining walls. One council we work with insists retaining walls, footings and their associated drainage be located wholly within the subject property boundaries by a whole whopping metre. This can take up valuable space, but at least we know what we have to do. Other council's are not so clear and it's here we like to try and push the boundaries so to speak, to use all space to our advantage.
If a retaining wall is built on a shared boundary, council may request an easement be set up.  This is not such a big deal but something that needs to be considered.  Our  surveyor is our go to guy in these situations.
We look at the style of retaining wall to use. If we are on a strict budget, then we'll go with timber retaining walls. If we are tight on space and want a nicer finish, then we'll use concrete block retaining which can be purchased in different colours and doesn't need as much width as a timber retaining wall.
Of course, if you need to build a high retaining wall, generally over one meter, then it may need to be engineered. This means an engineer needs to design the wall and you'll have to submit the plans as part of your Development Application.
The best time to build a retaining wall is after the site is cut but before the slabs are laid. This gives the contractors the best access and means this work is taken care of early in the build phase.
I recently had a dispute with someone about whose responsibility it was to pay for an upgrade to a  retaining wall. It can be a grey area. In this case, there was an existing, old retaining wall situated wholly inside this person's side boundary.  They had knocked down the original cottage and built a new house and their land levels had changed as a result.  The properties were on a hill. Many years ago, their back yard had been retained and filled so it was level. The house on the lower side had been built to the natural contours of the land and their back yard fell to the rear.
After the people on the high side finished their new house build, the old retaining wall needed upgrading as it was made of stone blocks and their soil filtered through each time it rained, plus the existing wall was not high enough now works had been completed. In addition, there was more retaining required to the entire side boundary due to the change of levels during construction.
The responsibility for the erection of retaining walls rests with the person who excavates or fills their land. It is not up to an adjoining landowner to contribute to the costs of a retaining wall, unless the wall is a common wall to support both cut and fill, for the benefit of both properties, on the common boundary.
To me this was cut and dry - their yard had been retained and filled at some stage (before these owners). They argued that the lower property had at one stage been cut (it hadn't but how do you prove this?).  The situation ended in a difference of opinions and a compromise was made by one party. It could have got ugly but at the end of the day, the additional cost was $500 and we put it down to an investment in future neighbour relations and hoped the neighbour appreciated this.
Works on common boundaries can be tricky business and communication is key but at the end of the day, if your development is going to benefit from a particular style or position of a retaining wall, then it may be easier to include it in the costs of the project and move on, after all the time saved on negotiating disputes can be put to better use.
 
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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Pushing the boundaries: Jo Chivers

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I’m not sure if you are into New Age stuff, but in my experience it works. I’ve read a few books and I think most of us has seen the movie “The Secret” a few years ago which really bought it all into the mainstream.
The Law of Attraction is a belief based on the concept that ‘like attracts like’ and that focussing on positive thoughts you will attract positive outcomes. Negative thoughts will do the same, attract negative outcomes. 
Whilst property developing is mostly all about numbers, if you don’t have the right mindset then you may find it hard to succeed. This goes for most things in life really.
I’ll tell you a little story. It’s been about 15 years since I started my business. Looking back, it was pretty crazy times. Not only did I transition from a career in marketing cosmetics to developing property, I also educated myself financially and bought a hand full of investment properties and had my first son all in the space of about a year.
I’ll always remember when I started Property Bloom as it was the year I also started a family. After discovering I was pregnant, I suddenly decided that we (my then husband and I) needed to build up our wealth in preparation for our retirements, still a way away but this must have been how my “nesting instinct” played out. When you are pregnant the increase in adrenaline in your system, alongside hormones and emotions makes mother’s-to-be very productive.
Rather than buying baby things, I started buying properties. Instead of cleaning out the cupboards, I sat in lecture theatres being inspired by all the strategies you can use to build wealth through property.
In the process of setting up our portfolio of investment properties, I realised just how much I loved property. I wanted to create a business where I could still do what I loved and have the flexibility to look after my little baby. After developing property for myself, a couple of friends asked me to project manager theirs and so that’s how Property Bloom came about. My little baby is turning 15 soon and so much has happened in this time.
The biggest, most challenging change for me came just two years ago when I became a single mum. Unfortunately, things didn’t work out for my marriage and after 19 years it was the biggest decision of my life to leave it. I had to weigh up many things and the most important being the kids. I have two beautiful sons and they are my priority. With the help of some good counselling and support of my awesome girlfriends, I made it through. The scariest thing was not fully knowing how I would manage financially.
But I needn’t have worried as during the last few years, I worked out how we can create and attract what we want. It’s all about having the right energy or mindset.
I was so unhappy I didn’t realise how much this sadness impacted on my daily life. I used exercise and keeping busy to cope but at the end of the day, I was finding it hard to keep a positive mindset. Then two massive life changing things happened. My elderly father died and then suddenly my younger mother-in-law died in the space of just a few months. These were the first deaths in my family and the harsh perspective they gave me was so powerful it literally kicked me into action.  Life was too short and I knew I had to make a massive change.
When I became happy after making that enormous and very tough decision, it was like the entire universe was on my side. My business was already doing well, possibly as I used it to focus on to get me through the tough times. But as a feeling of peace flowed through me, everything became brighter and it was easy to be positive.
I cherished the time I had with my boys and also the newly found time I had to myself when they were with their father. I’d never had much time to myself. Building a business and raising a family is time consuming and hard work. I used this precious time to recharge my energy levels, rebuild my self-esteem and focus on what I wanted.
In the meantime, my property development project management business that I love so much, was gaining momentum. Lots of clients were coming back to do a second and third project with us and new clients were attracted to the high level of service our boutique business offers. This meant I had no reason to feel financially worried despite taking out a massive mortgage on the family home so the kids and I could still stay there. Thank goodness for low interest rates!
After a while, I started thinking that the only thing missing was a partner to share my happy life with.
This is the fun bit. One New Year’s Eve, over a few glasses of champagne with my girlfriends, I wrote out a list of things I wanted in a new partner. This is much like writing out a list of goals. When you write them down, they become real and the more you go back and review them, the more energy and focus you are putting on them.
Almost a year to the day of writing that list, I met an amazing man. As we got to know each other, I was blown away that he was literally everything on my list, and more – no mean feat considering it was two pages long!
I’m ecstatically happy and very grateful, its amazing how awesome life is.
So how is your mindset right now? Make it positive and not negative, as remember like attracts like. Are there any changes (hopefully not as dramatic as mine) that you can make that will help you achieve your goals and have you written them down yet?  If something cannot be changed, you can still change your attitude about it. Get started on attracting what you want, perhaps it’s to get started on that development project you’ve always wanted to do.
Your mind is the most powerful tool you’ll ever need on a development site. 
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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What’s the most important tool needed to develop property? Jo Chivers 

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A fairly simple development strategy for a first time developer wanting to boost their property portfolio is a dual occupancy project; buying land where you can build two dwellings and subdividing. 
 The dwelling/villas may be attached or freestanding, either way you are basically halving the land cost for each and that is where the value lies.
Where Property Bloom develops, there is usually opportunity to create well over $150,000 in equity through a dual occ development, this is created within about twelve months and doesn't take into consideration the capital growth that also may occur during the development period.
The equity position of a project is determined when you take costs of the project away from the end value. However, be aware that you can't access the entire amount of equity created if you are refinancing on completion as the banks will most likely lend you around 80% of the value, leaving some equity in the project.
Timing your development can also boost the equity creation. If you are developing in an area experiencing good capital growth whilst your project is underway then you have timed your development well. Even if the market is flat, you can still manufacture some equity. Equity created is through the development and subdivision process because you are adding value to the land not with one dwelling but with two. By subdividing, you are halving the land cost for each dwelling. 
Here’s an example of a dual occupancy project we recently completed:
Land cost: $270,000
Stamp duty: $2,940
($5,000 NSW New Home Grant* applied so the government contributes $5,000 this off sets the stamp duty cost)
Legal fees: $1,500
Build cost, including plans, council fees &amp; charges, subdivision costs, for duplex; three bedroom, two bathroom villas:  $450,000
Total cost:  $724,440
Actual end valuations:  $920,000 or $460,000 per villa
Equity created:  $195,560 
Gross Yield 6.7% based on renting each villa at $480 per week. 
If you are borrowing at around 4% then the project may be cash flow positive for you. This is when the rent and depreciation benefits combined cover the costs of interest, insurance, council, water rates and management fees.
There are strong depreciation benefits too, expected depreciation $20,000 Year 1 (using the diminishing method)
* <a href="https://www.osr.nsw.gov.au/lib/doc/factsheets/ofs_nhg1.pdf" target="_blank">click here</a> for more.
Want to know how to do it? 
Of course I'd recommend using an experienced project manager to guide you through but you can have a go yourself - it will depend on the resources or skills you have available; time, experience, knowledge, contacts with a bit of patience thrown in. 
The steps involved in a dual occupancy development strategy are:
<ol>
<li>Finance preapproval. It’s important before you start looking at development sites or any property, that you have a preapproval from a lender in place.</li>
<li>Understand the council requirements for dual occupancies in this area. Study the council’s Local Environment Plan (LEP) and Development Control Plan (DCP).  This will let you know the size of land you’ll need for your dual occ and what is permissible.</li>
<li>Conduct due diligence on the area you want to develop in; understand the zoning for dual occupancies. Having correct zoning doesn't always mean you can carry out a dual occ. There may be covenants on the land preventing building more than one dwelling.</li>
<li>Search for land that meets a number of criteria; size – look at the frontage and know what the minimum width is for your dual occ. Look at the depth and size to ensure the land is large enough to meet the DCP including the minimum outdoor private space requirements. Check the aspect, north facing living areas are desirable and will make meeting the BASIX requirements much easier. Make sure there are services to the site; electricity, sewer, gas. Then ensure the land is relatively flat with a slight slope to the street unless there is a drainage easement at the back. </li>
<li>Check the Planning Certificate to see if the land is in a bushfire or flood zone.  You can still develop in these areas but it will add to your build costs. </li>
<li>Have your builder look at the site. This is very important as the builder will look at the land from a different perspective.</li>
<li>Run a feasibility to ensure the project will be viable. Find recent comparable sales references to base your end value estimates on. Talk to agents about the current rental market and what rent could be expected and calculate the projected yield on completion. Most importantly, you need to have a good understanding of the build costs. The build costs will evolve over the design and planning process. Your builder can give you an estimate once a concept plan is available, but as the full Development Application (DA) plans and documentation is available, the builder will then need to run a full tender. Cross check this against your original estimate. If it’s in line, lodge the DA if it’s not, go back to the design and look at areas where you can reduce costs. Once the plans are approved, the builder may update their tender if council asked for any changes. If not, then a final tender will be generated once the engineer’s plans for the Construction Certificate (CC) are available.</li>
<li>When securing the land, request a long settlement period with permission to lodge a DA from the vendor. You can get all the design work and perhaps even have the DA and CC approved before you settle on the land, this will reduce your holding costs.</li>
<li>Once you have the DA &amp; CC approvals, you can then go back to your lender to obtain your unconditional construction loan. As soon as this is in place, construction can commence.</li>
<li>The build phase for a dual occ should be around three to four month, depending on weather. You need to be on site each week to check the builder’s progress and put out any ‘fires’ that may arise as you are under construction. I've heard some stories of build times taking up to twelve months, so make sure you conduct due diligence on your builder before appointing them.</li>
<li>Once the building works are completed, an Occupation Certificate will be issued. You can now have your villas tenanted. Don’t forget to order a depreciation schedule to maximise your tax rebates.</li>
<li>You can now apply for the subdivision certificate and once council issues this, you can register the subdivision (after your lender has signed off on it).  There is no need to register immediately if you are planning to hold and not planning to refinance as you may find costs such as rates may be a little less if the villas are kept on one title.</li>
</ol>
I’ve summarised the process briefly, but it’s actually not that straight forward. You really do need the time to work on this development strategy closely as mistakes can be costly. If you're a first time developer, use an experienced property development project manager. Our clients enjoy the peace of mind that we've found the right location and development site for them and that their project is being managed efficiently, they also benefit from our long term relationship with our builder. All the fine details are reported to them in a written weekly report, so they are learning from the process but still have time for their own career and family. It's an easy option.
 
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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Boost your portfolio using this development strategy: Jo Chivers

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This week I listened in to a coaching call. It was a prominent company who have been selling their coaching/mentoring program for a while and I was curious to see what they offered.
It took me back to when I started my investment journey 15 years ago. I knew very little about property investing and all the different strategies you can use to grow your wealth.
With the help of hindsight, I reflected on just how I got going on my journey. I reduced it down to three important pieces:
1. Become educated, don’t overdo it and understand risk
After completing my intensive one-year training, I found there was always another course on offer. But I was chomping at the bit to put the things I’d already learnt to use.
I started to invest using one strategy well before my course was finished and ended up repeating it five times before moving onto another strategy. I found each time I completed a property transaction, I learnt more and as this experience built so did the quality of my deals. I found that taking action as quickly as I could, got me into the market faster and I could still study as I went.
But I also saw the opposite happen to others who did my course.  I watched as lots of people got sucked into a ‘vortex’ of needing more and more information before doing anything.
I thought that perhaps these people were worried about risk. Then I worked out, it was actually more of a personality thing. When I searched the thesaurus for the work “risk” this is what came up:
-        Danger
-        Possibility
-        Endanger
-        Chance
What jumps out at you when you read that list? 
The words I see are “possibility” and “chance”.
Property development has a ‘reputation’ for being risky.  Before I started learning about it I also thought it was risky. Why? Because someone had told me that. As I didn’t really know much about it, I held onto this belief.
When I leant more, I changed my belief from seeing development as risky to seeing it as exciting.
If you focus on the risks, you can’t see the opportunity. So I focus on the opportunity.
Over the years, we’ve found a way to derisk the property developments we project manage.
2.  Take massive levels of action
Get ready to work. Action speaks louder than words they say. Action is where you are going to really learn. I think some people underestimate just how much action you need to take to move forward.
Action can start with research then move to analysis then through to inspecting properties and making offers and then to negotiating the purchase and can keep moving into adding value to a property. Whatever your situation, there is always an area you can take action in. If you can’t get a loan, find a finance partner. If you don’t have a deposit, find an equity partner, if you don’t have time or experience, find a project manager.
Do anything but make excuses. There will always be a reason not to take action if you let there be one. This is a classic excuse; “It’s not the right time, the market isn’t good”, believe me, there is always opportunity in the market - you just need to tailor your action to the market.
3.  Refine your process
Practise makes perfect!  Every property development we manage is a little different but our system is almost always the same. With over 100 developments behind us, we’ve refined our process to ensure we get the best from a development project for our clients.
Like when I started out, I repeated my first investment strategy (which wasn’t developing) 5 times before I moved on to another one. The reason I moved on was market conditions changed and so I found a better strategy that would work in all conditions. Property developing or adding value allows us to create equity through the development process. By doing this, we are building in a ‘buffer’ of protection.
Property developing is a very detailed process, there are many steps involved. Each step can be refined and so there’s always opportunity to fast track or fine tune a step which will in turn, impact on the entire process.
So there you have my top 3 tips to getting started on your property development journey. Don’t hesitate, get educated, take massive action, repeat and refine your process. Oh and there is one more…have fun!
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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Three tips to get you started on your property development: Jo Chivers

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There are many benefits developing property will bring, but what should you focus on when assessing a development opportunity?
I get lots of calls and love speaking to people about property development. It’s interesting to see what kind of questions are raised. There is one question that is asked often and that is; “what kind of Return on Investment (ROI) do we get from our development projects?”
Even though our ROI is pretty good, it varies from project to project - this can be a dangerous way to assess the success or otherwise of a property development.
“ROI is usually expressed as a percentage and is typically used for personal financial decisions, to compare a company's profitability or to compare the efficiency of different investments. The return on investment formula is: ROI = (Net Profit / Cost of Investment) x 100.” Source: investinganswers.com
It can be a bit misleading to compare ROI on different opportunities as you need to be sure that you are comparing apples with apples. In Property Bloom cost calculations, we include every single cost, fee and charge, including our project management fee. But there is one thing that is hard to put a cost on.  Time.
Having a development professionally managed saves our clients valuable time.  If you didn’t use a project manager and made a higher ROI but your development took you twice as long to complete, then you need to consider the ROI over say two years instead of one. 
But focussing on ROI can also mean that you are missing the other valuable advantages that property development can bring. These include:
-       Yield – higher yield is created through adding value, this leads to passive income
-       Strategy Flexibility – hold them, sell them, hold a few or sell a few
-       Equity creation – whilst waiting for capital growth, access the equity that has been created through the development process by refinancing/selling
-       Depreciation – create tax credits
-       Fast growth of portfolio – increase your collection of properties quickly
-       Experience – with each development, your experience widens
-       Fun &amp; exciting – beats watching TV
So, there are many other ways apart from the ROI, to assess what you’ll get out of a development project and it’s worth considering the bigger picture.
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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Is ROI the best way to assess a development project?

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If you had seven hundred and eighty two odd thousand dollars, or the median price of Sydney to spend, how would you spend it?
I was reading an article recently about finding a suitable property in Sydney and paying just the median price, which was around $782,000 at the time.
The story continued as property experts put forward their ideas. One suggested a small house in outlying Sydney suburbs like Rockdale, but most properties in this price range would be on busy roads and that would be the compromise.
Another expert recommended inner ring apartments over old terraces or townhouses that would need substantial renovations. He said you could pick up a one bedder for $600,000 to $700,000, or a two bedder for $775,000 to $900,000, with expected yields around 4.5%.
Reading about this expensive Sydney property mentioned in the story got me thinking about what you could buy for the same price if you drove two hours north of Sydney to the Lower Hunter Region of NSW. Depending on which city you chose, your $782,000 would stretch to an impressive acreage or farm. 
In the city of Cessnock you could buy three houses, each for $260,000 (around this city’s median price). They would be on large 800 square metre blocks with 3 bedrooms and each rent for around $300 per week delivering a 6% or more gross yield. Or you could buy two larger, newer homes or a really beautiful house within a golf resort and even a commercial property.
In the city of Maitland you could buy a luxury restored heritage home built at the turn of the century with manicured gardens, a 6 bedroom homestead on acreage, or two substantial, almost new houses in new land estates each on 750 square metres of land.
Or you could develop land and build a dual occupancy – for around $782,000, your budget would cover building two four bedroom homes on a larger corner block with a Torrens Title subdivision.
The big difference between buying multiple or larger properties with your budget compared to building two dwellings yourself would be the equity creation and depreciation benefits. You see if you used your $782,000 to add value, you would create about $120,000 in equity within a year and get around $25,000 in depreciation in year one (using the diminishing method).
I know what I’d chose if I had a lazy $782,000 to spend particularly if I was an investor...hmm a two bedroom unit in Sydney or a four bedroom dual occupancy project in the fast growing city of Maitland? 
Oh, and another very important thing to note. The Hunter was a big winner in the New South Wales budget. This week it was announced that the <a href="https://www.hunterinfrastructure.nsw.gov.au/" target="_blank">Hunter Region gets $100 million to top up the Hunter Infrastructure Fund</a>.
Plus more than $300 million had already been announced for Hunter projects ahead of the budget including $280 million for the last link of the Newcastle inner-city bypass, $20 million to rebuild the Hunter Sports High School, $6 million allocated towards the Glendale interchange and $3 million for the planning of a new Maitland Hospital, among many others.
Infrastructure spend is one of the key indicators that an area is earmarked for growth.
<a href="https://www.propertybloom.com.au/">www.propertybloom.com.au</a>
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What would you buy with Sydney's median price?

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You know it wasn't that long ago that we lived in a totally different world. We had jobs for life. If you started work after leaving school in a bank, then you worked for a bank for the next thirty years or so. It was the same as buying a house and living in it for the same thirty years or so. That one house was deemed your 'investment for life' as superannuation was not yet invented.  
Also about 30 years ago, a little thing called the internet was introduced to us, we were told we could 'surf' the World Wide Web, little did we understand at the time the absolute massive impact this would have on the way we'd  live in the future.  
 I have trouble explaining to my kids that there was no internet when we were kids! The internet has now become an historical era; we talk pre and post internet. The internet opened up everything and now anyone, no matter what age can start a new business or become an 'entrepreneur'. So the 30 year careers in one industry have become extinct. 
A survey I read recently reported that 41% of all new business start ups in Australia are launched by people aged between 30 and 39, 21% aged 25 to 29 BUT 16% are aged between 40 and 44. I have a client starting her new business at the age of 58. Anything is possible. 
Today I received a call from a fifty something man who had made his fortune in buying, building up and selling businesses and now he was ready to park his money in property using a Self Managed Super Fund. He said "Jo, I'm ready now to kick back a bit and let my investments do the work for me." He is looking at a Property Bloom development that he'll fund from his SMSF that will create a nice chunk of equity during the development process and then result in a strong  yielding investment for him. 
The age for first time property investors is reducing. Whilst one in five Australians own an investment property, the number of Generation Y’s, individuals born roughly between 1982 and 1994, who own multiple properties is now on par with the Baby Boomers (17% own 2 or more). My step daughter fits this description with three properties under her belt.  Our youngest client will have six investment properties once we complete the two developments we have underway for him. His strategy is to build his portfolio as quickly as possible then as he starts a family, pull back and let time and capital growth work for him. The Gen Ys I know are clever. They embraces the internet early and used it as a tool to research and educate themselves on property investing. 
We live in a world overflowing with information and as older people realise that perhaps their 30 year career and original home is not going to deliver the retirement income they'll need over the next 30 years - because yes we are also living longer - then it's never too late to start investing and looking at entrepreneurial opportunities. Don't let physiological hang ups about 'comfort zones' set years ago hold you back. 
It's exciting times and why not build your own dream now? 
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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Never too old to own your future: Jo Chivers

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One of the most common questions I am asked these days comes from investors looking to use their self-managed super funds (SMSF) to invest and develop property.
It's no surprise that people who've had good experience with property investing want to apply the same strategy and take control of their superannuation investments.  But it's not as easy as it seems and you need to be clear on what tactics are permissible when investing money from your SMSF. You also need good, qualified advice.
I have to say I find it a little hard to stay on top of what you can and can't do with a SMSF.
When we recently started working with our new client Adam Mondy of <a href="https://www.mondyfinancial.com.au/" target="_blank">Mondy Financial Services</a>. I was delighted to hear that he was a financial planner who specialises in SMSFs. So I asked Adam if he wouldn't mind setting us straight on what we can and can't do with a SMSF.
Below are Adam's words of wisdom:
THE SMSF Developments
It sounds like a new movie release, but the SMSF world can be just as exciting and just as scary.
The Australian Tax Office are suggesting that 30,000 new SMSFs are opening each year, which is a lot of people wanting to be in complete control (or at least have the perception of control) over their retirement fortunes.
Investments in a SMSF
Any investment you can make in your current super fund or personal name you can make in an SMSF. Although if you are looking to boost your collection of fine wines and buy a few bottles of Grange Hermitage or perhaps add to your art collection with a Pro Hart, then that's a topic for a another time. Whilst it can be none, it's far more complicated.
You can invest in shares, term deposits, bonds, real estate trusts but a major drawcard and what has become very popular, is property.
Borrowing to Buy Property in your SMSF
The fact that you can take your super, borrow some funds from a bank and then buy a property that you may pay off in 15 - 20 years (yes slightly different than your traditional property strategy) using some or all of your superannuation guarantee payments, is a powerful strategy. Not a perfect, well diversified, sure fire guaranteed strategy, but nevertheless a powerful one based on past property prices. Basically if you are comfortable with gearing (using somebody else’s money, at a cost, to help build your future funds) using SMSF may suit you.
The standard method is to obtain a special loan from a normal banking institution, combining these funds and you can purchase any type of property. The ATO has very strict rules on “whom” you can purchase from and “who” can use these properties but any property type is fine.
The interesting thing about these loans is you cannot change the fundamental character of the property while the loan is on foot. For example, land cannot be purchased and then developed while a loan is attached. You could purchase a house and land package or an “off the plan unit” but there could be no ownership transfer under the package until the home/unit build was completed. The fundamental change being from vacant land to residential property.
On the other hand it is possible to make improvements to property, whilst the loan is on foot, so long as:
a) The improvements are not so extensive that they result in a change of the fundamental character of the property. Renovations to an existing residential property would generally be acceptable;
b) The improvements are not funded from borrowed monies, In other words the fund uses its own funds to make improvements to the property.
Can you develop property in a SMSF?
Many people think that you cannot develop in the SMSF environment. This is not correct. You can set up special trusts within the SMSF environment that allow you to use borrowed (by the SMSF) funds, develop property, subdivide, buy/sell, build a granny flat, or any property strategy you can think of. These trusts will even allow other investors, other SMSFs or you personally to invest with your SMSF to undertake a development.
The major catch, other than it is highly regulated, complicated and can be costly, is that you need to have the funds outside of the specific property you are developing. You cannot borrow against the property you are developing, as would be the “norm” in a traditional development. If you have access to funds, are able to borrow against other assets and/or have other parties involved, this scenario may be beneficial.
Using your own funds i.e. not borrowing
Basically you can do what you like with your own super funds in relation to property when borrowing is not undertaken. As long as the ATO rules of purchasing and “use” of the property are satisfied then any purchase, development, construction, subdivision or investment can be undertaken.
Your future self?
Whilst using your SMSF to invest in property has become common, you should consider that property is illiquid and may not produce the returns it has in the past. So it's important to do your due diligence carefully. In addition to this many property investors are committed to property over other investments, meaning there is little diversification across their portfolio. However, using different strategies such property development where you are adding value and creating equity through the process, can be a good way of building up the value of your SMSF faster than waiting on capital growth.
With any investment the return you receive should attempt to reflect the potential risk you are undertaking. Don’t forget in this instance we are talking about your future retirement funds, so you not only need to justify this strategy to your advisers, to your auditor and to the ATO but most importantly to your future self and family, so tread carefully.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Can I develop property using my SMSF? Jo Chivers

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

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We are moving away from 9-5 and Monday to Friday work to a "work when, where and how is appropriate model" according to Morris Miselowski of Business Futurist.
In this new world, he says many of us will have 6 careers and 14 jobs, work into our 80's and have a "work portfolio" rather than a "job".
The work portfolio means we can gain income from a range of activities as well as mix in a more cash flow stable 'salary' job. 
I totally agree with the idea of a work portfolio. Technology gives us the freedom to work anywhere, at any time. You no longer have to be tied to a desk working for one business to earn your money. 
In fact, you could be working several jobs at once to meet your needs. For instance, you may want to sell on the global market those unique items you make on Etsy, manage your various property investments and superannuation fund, do the odd task for money and also perhaps hold down a 2-3 day a week salary job.  
It's the hay day for entrepreneurs as crowd funding has become the norm and new businesses can be "incubated". This means being nurtured and supported in free office space with access to all the services required to get started on your new business journey. Wow, I wish this was around when I started out! 
File sharing systems like Dropbox allow us to access cloud based storage systems again from anywhere at any time and share information easily. 
I feel like a bit of an accidental pioneer as without knowing it, I've created a business working in this way. 
Even when I had my last "salary job" which was regional marketing manager for a major USA cosmetic brand, I worked from home and in the hours I needed to get my work done. My office was in New York but I lived in Sydney's beachside suburb of North Curl Curl. 
Property Bloom offers staff a flexible work environment where they can project manage our developments in their own time. This often means some after hours work but also gives them time out with their family, for sports and also importantly, other income producing activities. One of my project managers also owns a palates studio, another runs installations for outdoor signage in his spare time. My admin assistant has two small children to care for. So all their work for me is done in their own time. 
This way of working is flexible and puts less stress on us, so maybe we will continue working into our 80's, although I do hope I'll be at least semi retired by then!  There are health benefits for this flexible working arrangement, keeping our minds active and giving us a sense of contributing.
In all our customs designs for our property developments we are including home offices where tenants have a dedicated work space in case they also want to do enjoy a flexible 'work portfolio'.
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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Create your own flexible 'work portfolio': Jo Chivers

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>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

Jo Chivers

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