Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

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Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

Roberts Co has entered a new phase of growth following its acquisition by Arada, one of the world’s fastest-growing property developers in Australia.

The acquisition is supported by a $50 million capital injection into Roberts Co’s Australian balance sheet, consisting of the previously announced $25 million recapitalisation and an additional $25 million in new funding from Arada.

This investment strengthens Roberts Co’s financial position, stabilises operations, and provides the foundation for strategic expansion beyond its New South Wales base, with a focus on new opportunities in Queensland, including the Brisbane and Gold Coast regions.

With Arada’s international resources and financial backing, Roberts Co will broaden its portfolio across residential, commercial, and infrastructure sectors, reinforcing its strong market position in New South Wales and setting itself to capture growth in one of Australia’s most dynamic construction markets.

Ahmed Alkhoshaibi, Group CEO of Arada, said Roberts Co has a proud Australian heritage, an outstanding delivery record, and a strong reputation for collaboration with clients and partners.

"By combining this expertise with Arada’s global scale and financial capacity, we are creating a platform for sustained growth in the Australian market,"&nbsp;Alkhoshaibi said.

“Our $50 million capital injection, including new funds from Arada, underlines our commitment to both stabilise and expand Roberts Co’s operations, particularly into the fast-growing Queensland market. We see significant potential in South-East Queensland’s pipeline and are confident Roberts Co is well placed to deliver lasting value for clients and communities.”

George Kostas, CEO of Roberts Co, said Queensland, and particularly South-East Queensland, is one of the most active and opportunity-rich regions in Australia right now.

"The lead-up to the Brisbane 2032 Olympic Games will bring unprecedented investment across housing, transport, and infrastructure. Roberts Co is eager to play a major role in that transformation and secure a meaningful share of this fast-growing market.”

Arada pours more funds into Roberts Co, flags expansion into South East Queensland construction market

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Renovating is a big pastime for property enthusiasts, investors and home owners across the country.
Here at Property Observer we previously published a <a href="https://www.propertyobserver.com.au/renovating/the-10-best-diy-renovation-tips-from-the-experts/2013062662548" target="_blank">top 10 list of renovation tips from the experts</a>.
Now we're going to ask you what was useful for you, and which tip you thought was the best.
Which of the following tips is most useful to you?
{module Which renovation tip is the most useful?}
If there are any specific renovation tips you're keen to see Property Observer cover, email your thoughts to <a href="mailto:%20jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>. We're always keen to hear your thoughts.
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po-LsXgBTHBmX

Which renovation tip is the most useful?

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Bernadette Janson from the School of Renovating (@renovatingsc) tweets out asking whether this picture is your style or not.
<a target="_blank" href="https://twitter.com/renovatingsc"><img alt="TWEET_OF_THE_DAY_sept_16" height="574" width="470" src="/images/stories/2013/09/16/TWEET_OF_THE_DAY_sept_16.png"></a>
Janson says that contrast gives the room expression, and here at Property Observer we're big fans of the dark/light look.
Do you agree? How have you gone about styling and decorating your property?
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Style your home with contrast

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

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

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A few years back I was approached by an agent to buy a vacant lot which he thought might have been ripe for one into two lot subdivision. It had an extra wide frontage and, as he enthusiastically pointed out, it even had two street numbers, which immediately pricked my interest. In fact, on inspection I noticed that all the neighbouring properties were of similar size and I immediately wondered why they had not already been subdivided.
The answer soon became clear. They were not sewered. To subdivide one would need to provide sewer, the closest connection point of which was several hundred metres away and therefore not feasible for just two lots. The land on offer had a large <city>Greenfield</city> site to the rear which I had heard rumours about being developed into a large housing estate.
I visited the local council just to verify my thoughts and whilst there enquired as to what exactly was happening with the <city>Greenfield</city> site. To my surprise I learned that the subdivision had just recently been approved and that one of the conditions of approval was that they provide a sewer connection to the adjacent unsewered lots including the one I had been offered. This was a game changer!
In addition to putting a contract on the lot in question I also approached all the owners of the other unsewered lots that had suitably positioned homes to enable subdivision and managed to buy another two including the one next door to the first lot.
Now this is where it gets even more interesting. On checking the densities set down in the town plan I noticed that each lot had a plot ratio of 2.2 lots, meaning that together the two adjacent lots had a combined allowance of 4.4 lots.
The Queensland state government through it’s Department of Local Government has ultimate say over planning matters and actively encourages local councils where possible to allow development which uses existing infrastructure more efficiently. I wondered if this would enable me to turn our two lots into five?
There was another advantage in going for five lots because the second property acquired had a highset timber house on it which would likely need to be moved sideways or removed if four new evenly spaced lots were created whereas it fitted in just nicely in a five lot scheme.
Along with some joint venture partners we chanced our arm and succeeded in getting four new vacant lots and one other with the existing home remaining which was renovated to be sympathetic with the four new homes that we built there.
This turned out to be quite a profitable project. Two of the four joint venture partners including myself elected to sell straight away and those two homes were sold immediately at asking price. Tax liability could be dispersed because we were structured suitably. The other two partners each kept a new home for letting and to hold for the mandatory 12 months period until they at least qualified for the 50% capital gains tax rebate.
Sadly the market conditions deteriorated somewhat as has their likely selling price. Fortunately for them though they are still in a very profitable position due to the manner in which they acquired the properties in the first place. Had they bought the homes at ‘market price’ at the time they would still be playing catch up.
 
<hr>
 Adrian Stagg<a title="This external link will open in a new window" target="_blank" href="https://www.linkedin.com/profile/view?id=81214303&amp;trk=tab_pro"></a> is a director of <a href="https://www.embarkpropertyinvestment.com.au" target="_blank">Embark Intelligent Property Investment</a> and has been actively involved in the property industry since the 1970’s.
You can connect with Adrian via LinkedIn.
 
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Diary of a property investor: Adrian Stagg

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With our increasingly urbanising population in Australia comes a race for space of sorts in our major capital cities, where desire to live in them remains high and is growing.
Like many geographically large nations around the world such as China, Brazil, and Russia, despite the seemingly endless supply of land these countries have, people are preferring to value the convenience of an urban lifestyle at the sacrifice of land and space.
I’ll take you through eight innovative changes or improvements that investors are updating their properties with in order to attract the best rental returns. These trends cover off things like space maximisation and the growing urban desire to bring the rural or country creature comforts into urban spaces.
The key thing is that these trends are happening in smaller, urban properties where space maximisation and lifestyle convenience are the things renters are seeking. Investors ought to take note as some of these can be quite cost-efficient to implement, and could see the rental returns increase as a result.
<img style="float: left;" alt="number-1" height="35" width="24" src="/images/stories/2013/09/17/number-1.jpg">Veggie ‘feature’ gardens: These are popping up in tiny terrace back (and front!) yards in suburbs in inner-western Sydney and south-east Melbourne. Basically these are a small dedicated veggie patches – perhaps just 1 metre x 2 metres – planted in a front or back garden where space is limited, as a feature garden. The gardens achieve three core design functions: 
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<div>-          Creating visually pleasant focal point for small gardens;</div>
<div>-          Saving much-needed space for entertaining – also high priority for inner urban renters;</div>
<div>-          Addresses growing urban renter demand for ‘grow your own’ produce</div>
<img style="display: block; margin-left: auto; margin-right: auto;" src="/images/stories/2013/09/16/mcevoy_sept_16_one.png" width="381" height="214" alt="mcevoy_sept_16_one">
<img style="float: left;" alt="number-2" height="35" width="31" src="/images/stories/2013/09/17/number-2.jpg">Elevated deck with under storage. According to US site <a target="_blank" href="https://Houseplans.com">houseplans.com</a>, these are trending well with ‘tiny’ cottage style homes; similar to the workman’s terraces/cottages in Australia. Elevated back yard entertaining decks have been including dedicated, secure, and weather-resistant storage ‘bins’ underneath them. These bins, or drawers, literally roll out from underneath the decking and free up space in otherwise cramped small properties.
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<img style="float: left;" alt="number-3" height="35" width="26" src="/images/stories/2013/09/17/number-3.jpg">Kitchen/study combos. Weaving in to apartment design in several upcoming Australian developments are kitchens that can double as a study space when needed. These work by allowing an entire cabinet wall (usually a floor-to-ceiling pantry wall), to have a hinge half way down so that the top half of the wall folds over 90 degrees. This creates an office bench when needed and is a good feature of micro-apartment design (units of under 45 square metres), where space is particularly lacking.
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<img style="float: left;" alt="number-4" height="35" width="26" src="/images/stories/2013/09/17/number-4.jpg">Wall dining storage: Similar to the convertible kitchen cupboard/study desk above, some micro apartment designs are including TV unit wall storage that actually store a dining table and four dining chairs on racks, to save space when not needed. <ol></ol>
<img style="float: left;" alt="number-5" height="35" width="26" src="/images/stories/2013/09/17/number-5.jpg">Filtered water taps. By no means are these a new trend. However, what is trending well are older-style apartments who are installing water filter taps to existing kitchens. Water filter taps make older apartments more desirable, particularly in inner-ring suburbs. These are easy to have installed when in between tenant occupancies and are a capital cost that can be added to your depreciation report within the financial year they are installed. <ol></ol>
<img style="float: left;" alt="number-6" height="35" width="26" src="/images/stories/2013/09/17/number-6.jpg">Pre-fabricated building design. Melbourne’s International Flower &amp; Garden Show was abuzz with word of this design material. For investors the value of using pre-fabricated wooden panelling in any small front or back yard renovation is cost-efficiency. Some investors use it to create ‘backyard rooms’ which are effectively an oversize cubby-house for adults. This can add a covered entertaining space to small urban courtyards that previously had no entertaining function, for a reduced cost. Additionally these add as a striking design focal point in the yard, in turn attracting tenants and maximising rental return.
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<img style="float: left;" alt="number-7" height="35" width="26" src="/images/stories/2013/09/17/number-7.jpg">Wee tree wall gardens. Funny name, handy cost-efficient addition. The wee tree wall trend started out in Chicago but is appearing in Australia too. When there is no courtyard or balcony space for a ground-planted garden, but when you want to cost-efficiently add greenery and a dynamic focal point for the space, these wooden-panel walls can be built and installed cheaply. They work well to either hide an ugly wall, or to create a garden where there was no space in the ground previously to do so. The wall slats have shrubs planted across all the gaps, adding a sense of nature to otherwise cramp and industrial-feeling urban yards. Again, these add perceived value for minimum cost, working to attract premium rental value for a property.
<img src="/images/stories/2013/09/16/mcevoy_sept_16_two.jpg" width="468" height="309" alt="mcevoy_sept_16_two">
<img style="float: left;" alt="number-8" height="35" width="26" src="/images/stories/2013/09/17/number-8.jpg">Clever Use of Mirrors. Again, nothing new with mirrors being used in small spaces to add the perception of more space. But it is the clever use of them in renovations that is innovative. Mirrored bottom-shoe-drawers inside wardrobes that angle so shoes are visible when the drawer is only slightly open, are trending well for urban spaces. These save people from sifting through shoe drawers when they are busy whilst also saving storage space. Wall-to-floor mirrors in living spaces duration renovations are also an age-old manoeuvre to convey a more spacious living area.
 
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Cameron McEvoy is a NSW-based property investor and maintains a blog, <a href="https://propertyspectator.blogspot.com.au/" rel="nofollow" target="_blank">Property Correspondent.</a>
 
 
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Eight quirky design features catching the eye of urban renters: Cameron McEvoy

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It appears that treehouses are the new trend, and we're not just talking about knocking something up for your children either.
<img src="/images/stories/2013/09/09/TWEET_OF_THE_DAY_sept_9.png" width="461" height="215" alt="TWEET_OF_THE_DAY_sept_9" style="font-size: 0.8em;">
In fact, this <a target="_blank" href="https://www.facebook.com/photo.php?fbid=613718048678281&amp;l=1367fe0c78">particular effort, named Tower House</a>, featured in the tweet (and pictured below), has won an international architecture award for the 2545 square foot house with three bedroom suites.
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Treehouses climbing back into vogue

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Renovating is not always approached as a scientific process, however succesful renovator and director of Renovating for Profit, Cherie Barber, recently revealed that her success rides on a specific approach.
At the recent Property Millionaires Tour at the Sofitel in Melbourne on Saturday, Barber said that her process wouldn't win her any design awards but it's about making money and ensuring the renovation undertaken is appropriate to the area.
She shared a brief run-through of her process in her presentation at the event, during which Property Observer was present.
1) Structure and strategy
- The structure in which you purchase is crucial to ensuring you are taxed efficiently at the very end of the process. Should you purchase in a trust, SMSF or company structure?
- Decide on the strategy upfront: Is it buy/renovate/hold, buy/renovate/sell or something else?
2) Suburb due diligence
- Investors must know suburbs down to a street level. Pointing to her target suburb of Balmain, she explained that she knows where the negative and positive price pockets are, or where the prices change, and the reasons for this.
- Ensure you're targeting the right type of suburb for the renovation you intend to undertake. Middle ring and outer areas tend to suit cosmetic renovaitons, while inner city areas tend to favour structural.
3) Pricing due diligence
- The real estate agent's job is to make the vendor money, never forget this. 
- Ensure you are looking at true comparables - your suburb due diligence should assist you with this process.
4) Property due diligence
- Ensure you're not purchasing a property with major defects you cannot rectify under your budget (think about the hidden problems, such as termite damage or bad wiring).
- Check that the property stacks up for the majority of buyers in the area. Your demographic is crucial, and you should be thinking about a property as a product.
- Calling council and a number of other local experts will save you money in the long run.
5) Acquire
- The purchasing process and negotiation can be crucial for getting the price right. Ensure you enter in unemotionally and knowing the value (pricing due diligence).
- There are a number of different conditions, requests for early access and similar that can be asked for at this part in the process.
6) Council approval (usually for structural renovations)
- The earlier this part of the process is started the better. Investors should be prepared for councils to take longer than is often stated on their websites.
- To get an idea of how long the process might take, check online and see what has already been approved and the time frames. Expect it to take longer.
7) Renovate
- Get some good tradespeople and treat them well. It can often take a number of renovations to get your team selected.
- Keep organised, keep timelines and ensure effective communication.- Avoid being the DIYer unless you have done it before effectively.
8) Sell/Rent
- While you should have been clear on which of these approaches you were going to take since step one, it's now important to ensure you approach the best real estate agents and property managers for the job.
- Treat choosing agents as an interview process, rather than solely basing it on personality.
- Ensure that at any opens, the changes you have made to that process are highly visible and communicated to potential tenants/purchasers.
On September 5, 2013 we asked readers which room they thought would generate most value when renovated. The results are below:
<img src="/images/stories/2013/09/09/poll-results-sept-9.jpg" width="470" height="318" alt="poll-results-sept-9">
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Cherie Barber's eight step renovation process

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Mirvac’s inner-city residential community Enclave successfully sold 97% of its third release in one day, totaling $17.5 million.
Located seven kilometres from the Melbourne CBD in the suburb of Ascot Vale, Enclave is a joint venture between Mirvac and Gresham.
The 10.423-hectare project launched in April, with 95% of the first release snapped up in days, totaling $35.6 million.
The June release accomplished $9 million in sales in one morning.
With the final lot in the August release under contract, all three releases are now sold out.
Some 114 lots have sold in just four months since the launch, reaching a total value of $67.5 million.
House and land packages were priced from $549,000 and land was priced from $330,000.
Mirvac CEO of residential John Carfi says Enclave has been an enormous success story for Mirvac.
“Each release has surpassed expectations, we’ve seen owner-occupiers jumping at the change to buy into this new community.
“Purchasers camped out over night to make sure they snapped up the new release, proving demand is high for inner-city real estate in Melbourne,” says Carfi.
Construction of the first stage of land and housing commenced in June 2013.
More house and land packages are to be released, but a date is yet to be scheduled. 
The median house price in <a target="_blank" href="/news">Ascot Vale</a> is $705,000, a 10.2% change in the past five years, according to RP Data. 
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Mirvac's Enclave sells out first three releases totalling around $67.5 million

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Renovations are a national pastime with property owners looking to improve and add value to their properties.
There are more tips and resources freely available than ever before, such as these <a target="_blank" href="https://www.propertyobserver.com.au/renovating/the-10-best-diy-renovation-tips-from-the-experts/2013062662548">top ten expert tips</a>.
 
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Which room do you think delivers the most profit when renovated?

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The rules have been becoming more flexible in Perth regarding secondary dwellings and the strategy has been popular in Sydney for some time, but is it a strategy that you as an investor would undertake?
Recently, a property industry expert has come out against them saying that they are <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/granny-flats-worse-investments-than-vending-machines-gavin-mcpherson/2013090264738">worse investments than vending machines</a>,  however we have also been told that they are a great <a target="_blank" href="/news">value adding technique</a>.
"A property which recently added a granny-flat in addition to the house was able to achieve a consolidated income of $900 per week," said founder of Australian Mortgage Options, <a target="_blank" href="https://www.propertyobserver.com.au/renovating/don-t-overlook-the-potential-of-a-granny-flat-robert-projeski-renovating/2013052061444">Robert Projeski</a>.
 
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