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

Joel Robinson

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

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

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

Maréa Residences brings parkside apartments to Coolangatta

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

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

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

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

Australia Post is one of the country’s most trusted institutions, powering one of the largest delivery networks in Australia. As online shopping continues to scale, Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online.

That scale of eCommerce activity has fundamentally changed expectations around how and when parcels arrive, and what happens when someone isn't home.

<h3>Problem solved with Parcel Lockers</h3>

The traditional alternatives to home delivery are far from ideal. Buildings can rely on reception teams to manage deliveries, which introduces ongoing staffing costs and liability concerns. Parcels can be left in common areas, which creates security and aesthetic issues. Or residents are redirected to nearby Post Offices for collection, which shifts the inconvenience rather than solving it.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/dVG5ChLHf7E?si=D9hQRGCBuzlSQBqK" title="YouTube video player" width="560"></iframe>

The data behind that frustration is significant. Nationally, around 9 per cent of deliveries are carded, meaning the recipient was not home and must collect the parcel from a Post Office. That figure reflects the national average reported between November 2025 and January 2026. In Melbourne, that figure rises to 20 per cent. In high-density living, it climbs again to 28 per cent. In other words, more than one in four deliveries in Melbourne apartment buildings results in a failed first attempt.

<h3>How Parcel Lockers work</h3>

The mechanics are simple. When a parcel arrives, the resident receives a notification either through the Australia Post app or via SMS. They scan a QR code, use their one-time PIN and the compartment opens. The parcel is secure, accessible and removed from the lobby floor.

Located in thoughtfully chosen, easily accessible areas, including external building interfaces, mixed-use precincts or shared communal zones, Parcel Lockers enhance convenience without requiring internal building access or additional operational oversight.

<h3>The scale of the network</h3>

This expansion represents Australia Post's largest investment in parcel infrastructure to date, building on momentum that began in 2011 when the first 24 Parcel Locker sites were introduced.

Today the Australia Post Parcel Locker network spans over 1,400 locations and more than 105,000 individual compartments, with major investment already underway to significantly expand the network further.

<h3>What it means for developers and building operators</h3>

A Parcel Locker bank is free to install and free for residents to use. That removes one of the primary barriers to adoption and shifts the conversation from cost to integration.

Australia Post's preference is to engage with developers during the design phase. That allows Parcel Lockers to be located in a considered, publicly accessible space that works for residents and the broader community. Retrofit is possible, and existing buildings can be assessed, but the strongest results occur when Parcel Lockers are treated as part of the core services plan rather than a bolt-on solution.

While the iconic Australia Post red is widely recognised, Parcel Lockers can also be delivered in more muted palettes such as beige or green to align with architectural intent.

For developers, they offer a tech-forward amenity that meets modern expectations, a reduction in courier congestion and building-management load supporting lower emissions and better ESG outcomes, and a meaningful marketability advantage in high-density, eCommerce-active areas, all at no cost for installation and maintenance, with Australia Post funding the program aside from power access.

<h3>Who's using them</h3>

Generational shopping behaviours show strong, sustained growth across all cohorts. Millennials (27–43) led online spend in 2024, contributing nearly $25 billion. Baby Boomers (60–78) increased their online spend by 17.6 per cent, becoming the fastest-growing adopters. Gen Z (13–26) and Gen X (44–59) continue to lean on delivery services as part of their everyday shopping habits.

Internationally, uptake is even more pronounced. Overseas markets are seeing rapid adoption by both developers and consumers, positioning Parcel Lockers as standard infrastructure in many new residential projects. For Melbourne's development community, this signals a shift in baseline expectations. Just as secure bike storage and dedicated parcel rooms have become more common, integrated Parcel Locker networks may soon be viewed as part of the essential service mix.

<h3>The bigger picture</h3>

Parcel Lockers aren't just a logistics fix. Developers invest heavily in lobby design, materials, lighting and landscaping to shape first impressions. Yet a stack of unattended parcels can undo that effort in an instant. Embedding parcel infrastructure early allows projects to respond to how people actually live today, supporting resident satisfaction, reducing operational strain and aligning with broader community and ESG outcomes.

As Belinda Quinn, Senior Transaction Manager – Retail &amp; Out of Home at Australia Post, puts it, residents increasingly expect delivery solutions that align with real life, are flexible, secure and available whenever they need them.

How Australia Post is solving the parcel problem for apartment living

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Land in Clyde North’s newest community – Berwick Waters, 50 kilometres southeast of the Melbourne CBD – will be released this Saturday with allotments starting from $235,000. 
The Macumba land release comprises eight allotments within the Heritage Hills precinct.
<a target="_blank" href="/news">Berwick</a> Waters – an estate by Australand and Mondous Property Australia – is made up of two precincts, Heritage Hills and Waterfront.
The eight allotments range in size from 444 square metres to 545 square metres.
The 310-hectare community estate boasts extensive wetlands, shared walking and bike trails and will be complemented by three proposed state schools and a town centre.
Purchasers of the Macumba land release will be required to pay 5% of the purchase price to secure the allotment.
The median house price in <a target="_blank" href="/news">Clyde North</a>, which grew 0.35% in the quarter to February 2013, is $397,000.
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Berwick Waters Macumba land to be released this weekend

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By most backyard cubby house standards, they are gigantic and of rather grand designs. Be they snail shells, enchanted trees or giant homes.
Or the very trendy looking cubby house – dubbed the Zimmer – by Porter Davis Homes aimed at bringing out the big kid in all of us. Almost something you'd image the next generation of Tyler Brule's or Nick Tobias's enjoying in their childhood.
All are architect-designed and constructed by master builders, including one by the Grand Designs Australia host Peter Maddison, who based his cubby house on the 1968 novel by Ted Hughes of The Iron Man.
The five cubby houses (pictured below) will be on display at the Melbourne International Flower &amp; Garden Show until March 24.
{yoogallery src=[images/stories/2013/03/march22cubby]}
They will be auctioned on Sunday to raise money for not-for-profit organisation Kids Under Cover.
Maddison wanted his cubby to have a fantasy element, telling Fairfax Media that the giant in the The Iron Man was perfect.
The cubby was actually auctioned last year, but the winners have handed it back.
"I wanted to do something that related to my childhood," he told Fairfax Media.
"My first cubby house was a tiny space in a tree. It was made from old fence palings scavenged from neighbours' fences that had fallen off – or we helped fall off."
The not-for-profit charity places studio homes in backyards of families in need. Over their 15-year lifespan, the demountable buildings are passed on to up to four families.
<img alt="kidsmarch22one" height="400" width="400" src="/images/stories/2013/03/kidsmarch22one.jpg">
Kids Under Cover's national CEO Jo Swift says since 2009 the scheme has raised $125,000.
"We all want a cubby when we are kids, but the reality is not everybody gets that opportunity and not everybody has a happy childhood," Swift says.
Almost 45,000 young people are homeless or at risk; a figure that has doubled over the past five years. "It's quite challenging to learn about these problems in your own backyard," she says.
<a href="https://cubbyhousechallenge2013.gofundraise.com.au" target="_blank">Kids Under Cover's Cubby House Challenge, Melbourne International Flower &amp; Garden Show, March 20-24, Carlton Gardens &amp; Royal Exhibition Building, Auction March 24 at 3pm</a>; raffle tickets can also be bought from cubbyhousechallenge2013. gofundraise.com.au
Homeless Young People by State per Night:
<table border="0" align="left" style="width: 470px;"><tbody>
<tr>
<td>State</td>
<td>
Number of  Homeless Young People*
</td>
</tr>
<tr>
<td>VIC</td>
<td>3896</td>
</tr>
<tr>
<td align="left">QLD</td>
<td>4469</td>
</tr>
<tr>
<td>NSW</td>
<td>4987</td>
</tr>
<tr>
<td>WA</td>
<td>4280</td>
</tr>
<tr>
<td>SA</td>
<td>2129</td>
</tr>
<tr>
<td>TAS</td>
<td>770</td>
</tr>
<tr>
<td>NT</td>
<td>1102</td>
</tr>
<tr>
<td>ACT</td>
<td>
300
</td>
</tr>
</tbody></table>
 
 
 
 
 
 
 
It was 1989 when car dealer Ken Morgan decided to form Kids Under Cover. In the past 21 years Kids Under Cover has continued to grow and establish themselves as a driving force in the fight against youth homelessness.
In 2009 Hocking Stuart become Kids Under Cover's first key business partner.
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Backyard cubby houses of the grandest designs up for auction for Victorian homeless charity fundraising 

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Lend Lease’s wooden residential tower construction Forté has sold half of its 23 apartments with another few deals in the pipeline.
Two owner-occupiers have settled and moved into the groundbreaking tower, situated in Melbourne's <a href="/news">Docklands</a>, while a mix of investors and owner-occupiers are in the process of settling.
<img alt="fortemarch18one" height="350" width="470" src="/images/stories/2013/03/fortemarch18one.jpg">
The marketing campaign for the building began on February 22, well after the building’s completion in December 2012.
Most of the 10-storey construction is made from cross-laminate timber – a material billed as very quick to work with and environmentally friendly.
According to Lend Lease, by using wood, Forté reduced carbon dioxide equivalent emissions by more than 1,600 tonnes when compared to concrete and steel – the equivalent of removing 400 cars from the roads.
<img alt="fortemarch18two" height="313" width="470" src="/images/stories/2013/03/fortemarch18two.jpg">
Lend Lease’s Daryl Patterson says the technology allows for a more efficient and environmentally-friendly construction process.
“Designed and produced in a factory environment, Forté was 30% faster to build, safer and with higher precision than traditional construction materials. It also resulted in reduced construction traffic to and from site, caused less disruption to the community and produced less waste,” Patterson says.
“Unlike Europe where the revolutionary material has been used for more than a decade, Australia is only at the beginning of its CLT journey and still has a way to go to recognise the enormous potential in our market.
<img alt="fortemarch18three" height="313" width="470" src="/images/stories/2013/03/fortemarch18three.jpg">
“While we are in the early stages of developing environmentally-friendly apartment buildings, we are noticing a changing perception among consumers towards the long-term value that sustainable housing offers.”
He says cross-laminate timber offers better thermal performance and requires less energy to heat and cool, reducing energy and water costs with average savings of $300 per year or up to 25% less than a typical code-compliant apartment.
<img alt="fortemarch18four" height="311" width="470" src="/images/stories/2013/03/fortemarch18four.jpg">
Forte is the tallest timber building in the world, claiming the title from the eight-storey apartment block Stadthaus, Murray Grove, in London.
The $11 million timber tower comprises approximately 760 panels, measuring up to 16.5 metres by three metres, shipped from Austria.
Mr Patterson says the quick construction of the tower is mainly due to its similarities to that of an Ikea flat-pack.
Prices in the tower start at $424,000 for one-bedroom apartments and $579,000 for two-bedroom apartments.
<a href="https://www.propertyobserver.com.au/developments/forte-scaffolding-comes-down-unwrapping-the-world-s-tallest-timber-building/2012121958596" target="_blank">Property Observer followed the constuction through a series of photos</a>.
Meanwhile, Lend Lease has just started work on a new Docklands library and community centre, using cross-laminate timber and reclaimed hardwood.
<img alt="fortemarch18five" height="311" width="470" src="/images/stories/2013/03/fortemarch18five.jpg">
Lend Lease, along with Places Victoria and the City of Melbourne, hope the project will be Australia’s most modern library.
Designed by Clare Design and Hayball, the $13 million project is due to be finished in late 2013.
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Lend Lease's wooden Forté in Melbourne Docklands reaches halfway sales point

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If you’re empty nesters still living in the suburban home where you raised your kids, you may be planning to downscale to a lower maintenance home closer to the CBD and cafe culture.
The inner suburbs are more expensive than where you’re currently living, so you’ll need to maximise the profits from selling the family home to get a foothold in a different market.
You face a choice. Should you play it safe, do a few cosmetic renovations to bring your home up to scratch and sell it pretty much ‘as is’ in the hope that strong demand from buyers will bring you a good sale price?
Or should you take a more aggressive approach towards increasing your potential profit by demolishing your old home, building two dwellings in its place and selling them on individual titles?
Many people think that subdividing is a sure way to make more money than simply selling a property in its current form — but like many ‘sure things’ in property, it ain’t necessarily so.
Working through the figures is the only way to make an informed decision.
Start by getting a firm quote for demolishing your home and levelling the site. Factor in the cost of obtaining the appropriate council permits, and the fee an architect or draftsperson will charge to draw up plans for the subdivision.
Next, obtain an accurate costing for the labour and materials required to build the two new properties. Add a margin of at least 10% for unexpected changes and costs that may crop up when the job is underway.
Then, calculate the cost of interest. Even if you’ve paid off your home, the chances are that you’ll have to borrow money to fund the subdivision. Remember: the longer it takes to complete the subdivision and sell the properties, the more interest you’ll pay on top of the loan amount. It’s worth adding a margin onto the time you estimate the project will take.
Now, work out the rental cost. You’ll need a place to live while the project is underway, so speak with local property managers to find out the likely cost of renting a suitable property in your desired location. Paying rent as well as interest on the subdivision loan could make things tight financially, so it’s important to work out whether you can afford the additional outlay.
You’ll also need to calculate the cost of selling the new properties, including the real estate agent’s fee and marketing costs. These expenses can be significant, so it pays to negotiate a competitive commission with the agent and to satisfy yourself that the recommended marketing campaign will deliver the best value for your dollar by maximising the properties’ exposure to the right buyers.
Then, consider your tax liability. You’ll incur capital gains tax (CGT) when you sell. This could eat significantly into your profit, so seek advice from your accountant as to the exact liability that will apply in your situation.
Finally, ask local real estate agents for an appraisal of what your home is worth in the current market.
It’s a common mistake to calculate the potential profit of a redevelopment by using the value of the property as it stood when you bought it. The land will have grown in value since then, so using the original value could lead to an over-inflated estimate of the profit margin — and bring you crashing down to earth when you actually sell. Make sure you use the property’s value in today’s terms.
Once you have gone through these steps, you’ll have a clear idea if the project stacks up in financial terms. If not, it may be best to opt for the simpler route, undertake a few cosmetic renovations and sell your family home ‘as is’.
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
 
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Subdividing isn't always the best option: Mark Armstrong

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Greenfield land supply is expected to address on average 44% of demand for the six major capitals.
Sydney, South East Queensland, Melbourne, Perth, Adelaide and Canberra have well defined expectation around the role of new land supply. That role centers on being able to respond to the need for families to access a home situated in a well thought through urban context.
For the role of greenfield markets to be effective, state governments need to ensure that there is sufficient supply to cater for expected demand. Additionally, that the nominated supply needs to be largely controlled by parties with the capacity to take it to market.
Research from the National Land Survey Program shows that as at the beginning of 2012 there were an estimated 1.6 million future lots across the six major markets. Future lots will include lots remaining in active projects and also supply yet to be defined by a project.
Of this future supply, 13% is held in active projects, 36% is classified as “short-term supply” and 51% of the 1.6 million lots are classified as long term supply. In summary the 1.6 million lots of future supply is equal to approximately 32 years of demand.
Considering the Melbourne future supply situation, the major listed developers control only 30% of the estimated 350,000 lots (includes active projects supply balance). It cannot be stated that major developers are holding the future supply of Melbourne at ransom when only an estimated 50,000 lots of the 276,000 future lots (outside active projects) are currently being managed by the top developers.
It would be fair to say that major developers control a small proportion (16%) of total future supply earmarked by the state governments for the six major growth regions across Australia. The reality of future supply is that a large proportion is controlled by land owners who have no clear intention on bringing it to market and by an array of smaller land developers.
Of the nominated future new land supply across Sydney, 44% is under the control of parties who intend to develop. The 44% includes major and minor developers.
There is a suggestion that the actions of the major developers with respect to how they handle their supply lines is contributing to the level of unmet demand and rising new land prices. It would be fair to say that developers are in the business of selling land. The concept that developers manipulate supply lines in order to build up demand and then leverage that demand to lift prices would be inaccurate.
Despite the relatively modest supply of land held by the major listed developers, land sales across the six major markets have continued to perform well below expectations (with the exception of the Perth market). As at the December 2012 quarter new land sales were only addressing 60% of expected monthly demand. The result cannot be blamed on lack of product or stock ready for sale, as at the close of December 2012 there were close to 16,000 lots ready for sale. The 16,000 lots which are ready for sale represent 32% of the total annual demand for land across all six markets.
This high level of supply does not suggest that developers are holding back in terms of producing new lots, but rather have continued to produce more land parcels in the face of weakening sales. The current lower than expected sale rate has nothing to do with supply levels but more to do with an array of issues impacting on price, location of supply, drivers of demand and production capability.
Taking the price issue, some would say that the industry is experiencing lower sale rates because the price is too high. The price points for land is a factor in deterring potential customers, however to blame it on 'land banking' would once again be inaccurate. As already mentioned the volume of land under control by the major developers is small, not enough to influence pricing strategy across the market. Also the fact that there are in excess of 750 active projects operating across the markets means that the level of competition in each sub market would ensure that projects are competitive.
The industry has been moving price back; however there is a floor under the price point. That floor has more to do with the cost of development and the embedded overheads imposed on the industry by governments. It is now very hard for projects to offer product to much below $200,000 due to the cost framework associated with producing lots.
In summary, the concept that the major developers are holding the residential market to ransom by having only 16% of future supply is difficult to support. The ability of the greenfield markets to perform their role efficiently depends on much more than simply looking at a wholesale stock number. It would be more accurate to suggest that markets perform better where there is a healthy representation of larger developers with well defined supply lines.
Colin Keane is director at <a href="https://www.researchfour.com/" target="_blank">Research4</a>.
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It is inaccurate to over blame land prices to 'land banking': Colin Keane

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Property developer Australand has denied claims it ranks among Australia's leading residential landbankers – a claim made after a study of housing lots around Australia undertaken by activist website, Prosper.
The property developer had less than 8.5 years of supply compared with 19.2 years estimated by Prosper, Australand advised Property Observer who sought a response from all seven leading developers.
The overall claim of land banking went un-rebutted by the six other publicly listed developers.
Prosper claimed Australian land developers were holding onto land and thereby keeping or pushing up residential land prices.
Using data from the company annual reports, <a href="https://www.prosper.org.au/2012/12/06/englobo-2/" target="_blank">Prosper's study</a> endeavoured to calculate total lots held by developers divided by the amount sold over a recent twelve month period to arrive at their conclusion.
Prosper concludes that “this selfishness can be changed by astute application of land tax. Broadacre land zoned residential ought be taxed as if it were already in use.” 
However their approach - which found an average of 18.4 years of supply per developer - was labelled as overly simplistic by industry participants.
The McKell Institute advised Property Observer that they had endeavoured to undertake a similar study but concluded they couldn't get access to all the requisite data to make conclusions with confidence.
“I would not know where to start in picking this apart - the land development industry is far, far more complex than this simplistic analysis suggests!!!” commented one industry expert.
“The subject at hand - affordable land supply - involves a significant and complex matrix of issues such as regulatory intervention, delivery timeframes, and infrastructure coordination…not to mention commercial realities including financing, costs and risks.” the Housing Industry of Australia (HIA) chief economist, Harley Dale told Property Observer.
Australand was the only developer to actually rebut the figures in the Prosper article, while Stockland gave a response on the complexities of development.
The amended figures received were quite different to Prosper's as the lots sold were 2,536 as opposed to 1108 as mentioned in the article which severely effected the calculation of years of supply and as a result Australand had around 8.5 years of supply compared with 19.2 as claimed by Prosper.
Stockland gave Property Observer a brief response outlining the complexities of development and the time required to ensure a project is completed at a high standard. The Peet spokesperson said the "issue is quite a complicated one."
“As part of our approach to developing sustainable residential communities, we schedule development to ensure local private and public infrastructure, including transport, telecommunications, energy and water supply is available to meet the growing numbers of residents in each community.” Stockland representative.
Lend Lease had no opinion on the matter, and the remaining developers did not offer any response.
Following the late 2012 publication of the article by Prosper the claim of landbanking did not prompt any response from the seven developers to Prosper.
“The nil response from developers and real estate lobbyists was an insight in itself… their silence in response to this was deafening,“ commented David Collyer, the author of the Prosper article.
Prosper argue that taxing rezoned ready to sell land would speed up the turnover of land from paddock to subdivision.
But Angie Zigomanis from BIS Shrapnel told Property Observer "a land tax for zoned land may also encourage developers to turn over their land quicker if they are holding zoned land. If more land is forced onto the market in a corridor, then it could also result in price competition.”
However, Mr. Zigomanis believe there may be some “unintended consequences” as developers would delay rezoning land to save on tax, potentially placing supply pressures and driving up prices.
"It is clear that the topic of land banking is far more complex than the Prosper article defines it.
"Simply resolving the issue with higher taxes will only increase the cost of the development, which in turn is passed onto the purchaser.
"In circumstances where developers are competing on price, it could impact on the type and quality of the product being offered,” commented Mr Zigmomanis.
Colin Keane at Research4 says any high level of supply did not suggest that developers were holding back producing new lots, but rather have continued to produce more land parcels in the face of weakening sales.
He says the current lower than expected sale rate has nothing to do with supply levels but more to do with an array of issues impacting on price, location of supply, drivers of demand and production capability.
"Taking the price issue, some would say that the industry is experiencing lower sale rates because the price is too high.
"The price points for land is a factor in deterring potential customers, however to blame it on “land banking” would once again be inaccurate."
Keane maintains the volume of land under control by the major developers is small - and not enough to influence pricing strategy across the market.
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Residential developers landbanking denial

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Australians have long been predominantly urban dwellers.
Despite over 80% of us now living in cities, our self-image remains of a sunburnt country girt by sea – when in reality it should be of a frazzled city girt by sprawl.
The stress of living in our capital cities is well known: our crowded roads, poor and ageing infrastructure, and a lack of public transport.
Yet while Australia’s economic wealth is driven from the major cities, the federal government is almost completely absent from the contemporary discussion about the future urban environment and housing in Australia.
The true costs associated with poor urban environments are rarely part of the economic debate.
Our cities are largely left to the under-resourced state and local governments to devise and administer planning systems in the hope of shaping our urban environment.
Planning systems revel in written policy full of ‘government-speak’ for best practice or driven by nullifying empirical process and regulation.
Our market-driven development sector is unchanged since white settlement – consisting of appropriating land, cutting it up, building on it, selling it off and moving onto to the next deal ASAP before the market turns.
Very few of our urban population living in the traditional single house would have any direct relationship with architecture.
Our traditional housing construction industry comprises of independent craft-based subcontractors putting together 'stick build' detached houses for project-home developers large and small, having procured basic plans that meet ‘tick-the-box’ planning and building regulations.
This has long been our traditional way of providing housing and forming our suburban fabric, resulting in the ever-expanding concentric growth of our cities with all the associated shortcomings.
However, a tipping point in this traditional order may have been reached, causing change to occur in a number of connected ways.
For the first time, the value of a block of land on the fringe is now more expensive than the house that will go in it.
The size of the average block has been decreasing to the point that the narrow side gaps between houses cannot be justified.
Housing is becoming joined and connected and as a consequence is having to be delivered in groups and clusters. 
Resolution of the relationships between landscape, sense of address and amenity for sunlight and privacy between dwellings, requires embodied architectural knowledge.
The change of demographics is also driving change. Architects are now designing higher density housing on the fringe with townhouses and apartments meeting the housing demands for a rapid increase in different household configurations.
That too requires an increased level of research and application of design rigor not found with ‘off the shelf’ pro-forma plans that characterise the ad-hoc fashion of the traditional housing development industry.
Architects have, in the past, been at the forefront of change and innovation in housing environments.
The design of the garden-city suburb and projects such as the cluster housing at Winter Park in Melbourne’s eastern suburbs are such examples.
They again have an opportunity to contribute in determining contemporary solutions to the challenges beyond the 'tram lines'.
Rob Stent is a director Melbourne-based architecture, interior and urban design practice Hayball and is a past president of the Victorian chapter of the Australian Institute of Architects. Among the buildings he has designed is Lend Lease’s completed Serrata apartment building in Docklands, one of Melbourne's first apartment buildings to achieve a four-star Green Star rating.
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Architects are focusing on higher-density projects as demographics change: Rob Stent

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Home building activity is heading in opposite directions in NSW and Victoria. 
Building approval data released by the ABS for January indicate that home building activity is trending down in Victoria with NSW finally closing the gap on its state rival. 
“Trend growth in Victorian building approvals remained negative in January (and has been negative since August 2012), indicating that Victorian building activity will continue to slow from the recent peak in the coming months,” says Ivan Colhoun, head of Australian economics and property research at ANZ. 
“In contrast, steady growth in NSW building plans has driven trend approvals to the highest level since mid-2005, narrowing the gap between Victoria and NSW trend building approvals to the smallest margin in almost six years. 
In its analysis of the January ABS figures, the Urban Taskforce also notes a shift towards NSW with a major boost in apartment approvals in the state over the month.
“In January 2009, only 600 apartments were approved while the January 2013 figures indicate over 2,000 approvals,” says Urban Taskforce chief, Chris Johnson. 
“NSW is clearly leading the country in the approval of apartments as these become a preferred housing type for many people.”
However, Johnson says that national approvals for all housing were flat as were approvals for the detached housing in NSW. 
“NSW Government needs to ensure that planning rules help the apartment market particularly in inner city areas of Sydney. 
“We are hopeful the White Paper and the Metropolitan Strategy, due out soon, will help with planning approvals for apartment buildings particularly in Urban Activation Precincts,” he says. 
Commonwealth Bank economist Michael Workman notes building approvals fell in Victoria by 2.6% in January, but highlights that the state still accounts for over 30% of national building approvals “suggesting housing supply in the state will be plentiful in 2013”. 
Building approvals were down in NSW (?1.3%), Queensland (?5.8%) and SA (?3.2%).
Tasmania bounced by 13.9% over the month. 
On a through?the?year basis, approvals were up in NSW (14.3%), Vic (3.8%) and Qld (12.0%).  Approvals were down in SA (?2.6%) and Tasmania (?23.9%). 
The Housing Industry Assocation (HIA) described the January figures as "disappointing".
“Building approvals in January 2013 fell for a second consecutive month, dropping back below the 13,000 mark,” said HIA chief economist, Harley Dale.
“The headline January decline of 2.4% would have been weaker if there hadn’t been a 3.3% rise in detached house approvals, a component that continues to miss the mark overall.
"Even with that monthly rise, approvals for detached houses were still down by 1% over the three monthsto January,” said Dale.
Peter Jones, Master Builders Australia’s chief economist said the January building approval figures do little to suggest a strong recovery is on the horizon for the industry. 
“New homebuyers still seem reluctant to commit and new dwelling approvals remain weak, despite being up a fraction on the previous trough. 
“The industry just can’t seem to pick itself up off the mat at the moment. The rise in private sector houses is certainly welcomed, but comes after three consecutive falls. There is a long way to go to overcome the negative trend that has developed again," said Jones.
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New home building activity starting to shift from Melbourne to Sydney: ABS figures

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Housing affordability is set to worsen in Sydney due to a “chronic” undersupply of land for new housing, according to the annual UDIA State of the Land Report.
The report labels Sydney as the most expensive market for residential land in Australia and calls for a federal government plan to ensure Sydney and other capital cities have a rolling supply of development ready to meet the demands of growing city populations.
“Unfortunately official information has not been released since 2010/11, but most experts believe [Sydney] retains the highest median lot price in the country,” says UDIA national president Julie Katz.
Nationally, the report delivers a damning verdict on the release of residential land for new homes in Australia’s major capital cities with Perth lot production down about 11% over the past 12 months despite an improvement in demand for houses.
The report found that the median size of lots has been gradually declining as a result of the scant supply and high cost of land with Adelaide the only city to have experienced a decline in median lot price and offering lots under a median size of 400 square metres.
Research from the National Land Survey Program (NLSP) carried out for the UDIA in November last year found that the average first home buyer is paying on average 30% more for a block of land and getting 36% less land than during the height of the property boom. 
According to the UDIA, Adelaide and Brisbane both produced the least amount of lots in a decade over 2011-12.
Melbourne is the only major land market with a healthy supply of new land, but paradoxically, where demand for fringe residential land is poor with around <a href="https://www.propertyobserver.com.au/victoria/long-slow-road-to-recovery-for-melbourne-residential-land-market-with-prices-to-fall-further-charter-keck-cramer/2012121158413">30% of greenfield land being returned to developers</a> by building companies and developers forced to offer hefty rebates and other incentives to attract buyers.
In Sydney, the situation is almost the exact opposite with not enough land being released to meet future demand.
On a positive note, the UDIA reports that land supply has improved in Sydney under policy changes instigated by the O’Farrell government and along with Melbourne is the only capital city market where lot production did not fall in 2011-12.
In her address to the UDIA National Congress in Melbourne today, Katz warned of an ongoing and increasing undersupply of land right across the national housing market that is having major negative impacts on the affordability of Australian housing.
"The Report clearly illustrates the growing gap between land supply and demand throughout Australia, and clearly outlines why fixing Australia's housing problems must be a major element of all Federal political party's economic and social policies." 
"The Report paints a concerning picture for policy makers around the country and especially for new homebuyers looking to enter the market, as the increasing undersupply of land and housing is putting substantial pressure on housing affordability." 
"It is well known that Australia's housing shortage is most severe in the affordable housing category.
The UDIA is calling for the federal government to establish a national strategic plan, requiring cities to maintain a specified rolling supply of development-ready land to meet demand driven by population growth
It is also calling for “federal funding to be linked to state governments establishing comprehensive land-use plans which are aligned with detailed, costed infrastructure plans and underpinned by delivery time frames”.
Other recommendations include:
<ul>
<li>The Productivity Commission to undertake an inquiry into 'developer levies', assess the impact of these levies on broader based tax collections and investigate alternative methods of financing infrastructure </li>
<li>Through the identification of leading practice, State Governments should encourage Local Councils and relevant State Agencies to reform the processes involved in assessing applications for development </li>
<li>Conduct a thorough bi-annual audit of all Commonwealth-owned land in order to regularly update its Register of Surplus Commonwealth Land 
</li>
</ul>
“What is desperately needed is a suite of Government policies which will bring about an accelerated, but more coordinated approach to serviced land release while simultaneously departing from the inequitable first user pays approach to funding infrastructure,” says Katz. 
According to Katz, housing issues appear to have dropped off the federal government and COAG's priority list. 
“The findings in the Report demonstrate a clear need for greater focus from Government on housing supply and affordability, not a winding back of commitments," says Katz.
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Sydney fringe epicentre of chronic undersupply of residential land: UDIA

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When you first read the marketing headlines for Molonglo Valley, Canberra the statistics are very impressive.
Fifteen suburbs, 25,000 homes and fifteen years to complete, making this project the ideal starting point for my focusing on the project marketing of land estates and master-planned communities.
I first became involved with Molonglo Valley back in February 2010 along with the residential land estate sales team at Colliers International in Canberra who were working at a furious pace to launch the first land release for their client the Land Development Agency (LDA).
My colleague Shane Radnell, general manager of Residential Land Marketing in the ACT was at the time heading up the sales and marketing team for what was one of the largest projects of its kind in Australia.
Over the few months that followed the launch we embraced a number of new and very innovative ideas – several of which were clearly Land Estate Project Marketing ‘firsts’.
However, before we take a look at that stage of the project and the detail of the marketing that was undertaken, here is a general outline about Molonglo Valley.
If you are not familiar with the ACT, Molonglo Valley is less than 10 kilometres from Canberra City, 5 kilometres to Woden and 12 kilometres from Belconnen, and so this is an inner-city location near Mount Stromlo and Black Mountain in an area that was partly impacted by the bush fires of January 2003.
Molonglo Valley’s close links to the CBD are unique in a city where most new land releases are much further removed. The impressive new National Arboretum Canberra plus Stromlo Forest Park, Lake Burley Griffin and the Molonglo River are all near neighbours.
Such a location in a major urban setting is very rare and so this would have been clearly in the minds of the LDA as plans for the first release were being finessed back in 2010.
According to Shane Radnell, “This was to be a stand out project the location demanded nothing less, the streets for example were being planned with a view of ‘old-Canberra’ with a feeling of some of the older established suburbs like Kingston. Blocks were to be larger and building controls would also help deliver a quality outcome, leading into the launch there was strong demand for this type of project.”
“For many potential buyers at the time the only alternative to Molonglo Valley would have been to purchase an existing home, demolish and re-build. From our point of view the marketing challenge was clear, but there were some very big hurdles to overcome.”
What Shane was in part referring to was the fact that when the release was to come onto the market and be released for sale, no site works had been undertaken, none at all and it was not even possible to walk onto the land. The site had to be seen from afar and so for some buyers this would be a leap of faith.
The marketing challenge was to bridge this gap and to provide a sales path that would educate buyers, easily and quickly, but to also ensure that they had enough information to make a commitment to buy.
“We made the recommendation to the LDA that due to  high level of demand, amongst other reasons, that the first release of 100 blocks in Wright (which was the first suburb to be released) should be by auction and not by ballot, which at the time was the more standard way new estates were taken to market,” said Shane.
To help appreciate the hurdles of moving away from the ballot process here’s a brief outline of how the system works. It is a model more unique to the ACT than any other market.
This is a brief outline from the LDA’s website and you can refer to the site for more details <a href="https://www.lda.act.gov.au/" target="_blank">www.lda.act.gov.au</a>
“A new land release in an LDA residential estate may be offered for sale through the LDA’s ballot system. The ballot system is the fairest and most transparent way the LDA can sell residential blocks to the public. Block prices are set at the market value, which allows the buyer to purchase the block without the risk of a higher bidder obtaining the block.
“How does the ballot work? To participate in a ballot, potential buyers must register their details using the LDA’s online system during the advertised registration period.  These details include the full names of each buyer, their residential address, solicitor details and the type of lease they wish to enter into.
“Once the registration form has been submitted, the potential buyer is then entered into the ballot and given a unique ballot number. Once the registration period closes, each eligible ballot number is entered into an electronic ballot draw system.
“Witnessed by Gaming and Racing officials, the ballot is drawn at the LDA’s head office. Ballot numbers are drawn sequentially and the official results are uploaded on to the LDA’s website.”
The Planning Begins
Against this general background, the planning and detailed marketing for the first release of 100 blocks got underway a highly successful auction was held May 2010. Remaining blocks were subsequently offered for sale by ballot and over-the-counter.
This is very much the short hand version of events, and in my next few posts I will detail how some new technology, a purpose built CBD display suite and a very deliberate sales path were employed to make this first Molonglo Valley release a stand out example of Land Marketing leadership as well as an up-date of where the estate is today.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
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