Lender, fund manager and apartment developer Princeton has completed <a href="https://www.apartments.com.au/buildings/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, the first new apartment development in South Sydney to provide its owners with a 10-year Latent Defects Insurance policy, the most comprehensive insurance available for a new apartment building.

The policy has been a key consideration for prospective purchasers of the 58 one-, two-, and three-bedroom apartments, strategically located between&nbsp;Rockdale Plaza and Rockdale Station.&nbsp;

Buyers have also been drawn to the fact that it is one of few new apartment developments delivered in the suburb in the last 10 years, and the only one located on Princes Highway to be set well back from the street to reduce noise. There's also a communal rooftop, a rarity in the suburb, complete barbecue facilities, landscaped seating areas, a children's play zone and herb gardens.

[smartcode_project:default project_id=136442 project_image_fid=374084]

Ray White Projects selling agent Matt Otway said buyer enquiry had reflected the diverse, cosmopolitan population Rockdale has increasingly become known for.

"We're getting buyers from all walks of life," Otway said.

"There's a real mix of young professionals, Chinese, Indian and Eastern European buyers who have rented in Rockdale and the surrounding areas and see Marque as their opportunity to buy into the area in a brand new apartment."

Investors have also been attracted to the project, with rental yields of around five per cent.

[smartcode_project:default project_id=136442 project_image_fid=374090]

Adding another layer to the buyer proposition is Marque's 10-year Latent Defects Insurance policy from Resilience Insurance, making it the only new apartment development in Rockdale to offer the cover.

The policy protects apartment owners against major structural and waterproofing defects for 10 years following completion, giving Marque purchasers cover until early 2036 at no additional cost.

The likelihood of defects emerging has also been mitigated through the Technical Inspection Service (TIS), which saw independent experts inspect the building at various stages throughout construction to identify potential issues during the build, rather than after the fact.

SDSS, which provided the TIS, consistently ranked the construction quality at Marque, undertaken by iCIRT-rated builder Coplex, among the best across its extensive portfolio of projects.

[smartcode_project:default project_id=136442 project_image_fid=374088]

Otway said the LDI had become a major drawcard for buyers, particularly given Rockdale has seen relatively little new apartment development over the past decade.

"Rockdale hasn't had a lot of new apartment buildings in the last decade, and has never had a project with 10-year defect insurance," Otway said.

"Marque presents a truly rare opportunity at an affordable price point, so well connected to the Sydney CBD."

One-bedroom apartments at Marque start from $735,000.

[smartcode_project_cta:default project_id=136442]

Joel Robinson

Marque Rockdale completes as South Sydney’s first apartments backed by 10-year defect insurance

Sydney developer <a href="https://www.apartments.com.au/developers/odus">ODUS Property Group</a> is continuing to expand its local Gold Coast development pipeline, filing plans for a new 40-storey tower in the Southport CBD.

Odus, which bought two luxury Main Beach projects, now La Mer and Le Reve, to make its move into the booming Gold Coast apartment market, has secured its third site. But it is tweaking the plans for a previously proposed 50-storey skyscraper, now seeking to deliver 40 storeys.

The project, dubbed <a href="https://www.apartments.com.au/new-apartments/80-marine-parade-74-80-marine-parade-southport-qld-4215">80 Marine Parade</a>, sits on a prime&nbsp;2,032 sqm amalgamated corner site at 74–80 Marine Parade and 4 Welch Street, across the road from the Gold Coast Aquatic Centre. It will have unobstructed, never-to-be-built-out views to the east given its position opposite the Broadbwater Parklands.&nbsp;

The plans are for 316 apartments, ground-floor retail, and resort-style resident amenities. The project sits within Precinct 1 (Central Business District) of the Southport Priority Development Area, where high-density residential and commercial development is actively encouraged.

BGD, ran by Bayden Goddard and the architecture firm behind Le Reve, has revised the original concept plans, substantially reworking the built form. Basement parking has been replaced by an expanded podium designed to improve functionality while reducing the tower's overall visual impact.&nbsp;&nbsp;

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0f13d065-2cf5-45ec-aa17-1a03754d93d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%202.png?VersionId=.9QS2n7kBc_U3PyaI247uOyNSXIqnXSE" />

The tower rises above the eight-storey landscaped podium with a distinctive architectural language defined by sweeping arches, integrated greenery, bronze-toned glazing, and a sculptural rooftop crown.

The development will comprise 104 one-bedroom apartments, 208 two-bedroom apartments, and four four-bedroom penthouses across levels 9 to 36. Apartments are designed to accommodate both permanent residents and short-term accommodation within the same building.

A double-height lobby and reception will anchor the ground floor alongside a 23 sqm food and drink outlet, activating the Marine Parade frontage.

Parking will be accommodated within the podium, providing 288 vehicle spaces and 74 bicycle spaces, accessed from Welch Street.

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="d7528b91-2c47-4094-98b3-5eecbacc0041" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%20podium.png?VersionId=efF5oWs4T9PDvxJwJEDHu5kSQ5eE3IBy" />

Residents will have access to an extensive suite of amenities spread across multiple levels. A podium recreation deck will include a swimming pool, spas, sauna, steam room, cinema, residents' lounge and children's games room, while a second wellness level near the top of the building will feature a gym, co-working spaces, reading room, dining areas and communal kitchen. Extensive podium landscaping wraps the building to soften the built form and strengthen its interface with the surrounding streetscape.

The planning report notes the project responds directly to Southport's ongoing urban transformation.

"Consistent with much of Southport, the surrounding area is undergoing significant transition, with many older low-rise developments progressively being redeveloped for higher-intensity urban outcomes, as envisaged within Precinct 1."

It also states that the proposal "will contribute to a defined and legible eastern gateway to the Southport CBD, reinforcing the area's high-density urban character while maintaining a strong visual connection to the adjoining public open space network."

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0b9fdebd-4b35-400b-a287-6bd1cdbcdb1b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da.png?VersionId=4LG35XR5mfir7jvG2TShtQx.utMLYBxu" />

Located opposite the Broadwater Parklands, the site enjoys immediate access to the Gold Coast Aquatic Centre, Australia Fair Shopping Centre, TAFE Queensland Southport campus, the G:link light rail corridor and Southport's established commercial precinct. The location places future residents within one of the Gold Coast's fastest-evolving mixed-use centres, where numerous high-rise residential projects are reshaping the CBD skyline.

Odus is headed by development professionals Byron Sakha, Jarrod Younan and Sebastian Younan. The Younans also head family-owned builder Nazero Constructions, established in the 1960s.

They are currently delivering La Mer, 24 luxury apartments on Main Beach Parade, and Le&nbsp;Rêve, on the same street but on the prized beachfront side of the sought-after strip.

ODUS plans landmark 40-storey tower for Southport's Broadwater gateway

A boutique collection of just 10 residences could become the catalyst for the next phase of renewal along the southern end of Surfers Paradise Boulevard, with new plans laid for a mixed-use tower designed to transform a long-vacant site.

The proposal for <a href="https://www.apartments.com.au/new-apartments/3098-surfers-paradise-boulevard-surfers-paradise-qld-4217">3098 Surfers Paradise Boulevard</a> has been conceived as more than a standalone residential project. Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the development aims to spark the revitalisation of what the design team describes as the "South Boulevard" precinct, creating an active streetscape with retail uses at ground level beneath a collection of full-floor luxury residences.

The application, by PR Property Holdings, an entity directed by the Brisbane-based Ryan and Petrovic families, seeks approval for a 17-storey, 62.2-metre mixed-use development on a compact 427 sqm site between Surfers Paradise Boulevard and Appel Street.

The project will comprise just 10 apartments, including eight full-floor residences and two duplex apartments, positioned above a two-level retail podium. Three podium parking levels will accommodate 26 vehicle spaces, while a recreation deck is proposed on Level 4.

<img alt="First look: PR Property Holdings plans boutique apartment tower to kickstart Surfers Paradise's 'South Boulevard' revival" data-entity-type="file" data-entity-uuid="46cfa37d-5051-4449-8d8e-6724f8ca0d59" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_8.png?VersionId=e7UkeV1eTZAC2lXhdq72E3jpUbwiFD2t" />

Rather than pursuing apartment volume, the proposal focuses on large-format homes with a slender tower form intended to maximise outlooks while limiting visual bulk.

BDA Architecture said the proposal has been designed to become an urban renewal catalyst for the precinct.

"The ambition of 3098 Surfer's Paradise is that it provides the catalyst for incremental infill redevelopment and upgrade of what is coined the 'South Boulevarde' of Surfers Paradise which connects to the beating heart of Cavill Avenue."

The architects added: "An incremental approach to development that provides quality ground plane interface, human scale design, integrated subtropical landscape and semipublic permeable frontage can over time entirely upgrade a precinct."

The architecture adopts soft curves, articulated balconies and a slender tower profile rising from a human-scaled podium. The design report describes the project as delivering "bespoke residences of enduring distinction, sculpted with precision and quiet sophistication," with a focus on timeless coastal architecture.

The application also includes retail tenancies addressing Surfers Paradise Boulevard, reinforcing the site's role as an active mixed-use destination rather than a purely residential address. The planning report states the combination of the podium, landscaping and active frontage is intended to strengthen the pedestrian experience while contributing to the evolving character of the boulevard.

The site occupies a prominent position in the southern section of Surfers Paradise, directly opposite the G:link light rail corridor and within walking distance of Surfers Paradise Beach, Cavill Avenue, the Nerang River and Bruce Bishop Car Park. It is currently vacant, having previously accommodated a single-storey commercial building that was demolished in 2022. The planning report notes the surrounding area is characterised by a mix of commercial buildings and residential towers, with unlimited building height provisions applying under the Centre Zone.

The proposal also replaces an earlier 2022 approval for a restaurant and bar on the site, instead introducing a permanent mixed-use development that combines retail activation with boutique residential living.

Boutique apartment tower to "kickstart" Surfers Paradise's 'South Boulevard' revival

One of Hervey Bay's best-known waterfront landmarks could undergo its biggest transformation in decades, with plans lodged to redevelop the Hervey Bay Hotel &amp; Resort into a four-tower mixed-use precinct combining apartments, retirement living, a new hotel, wellness facilities, retail and an expanded hospitality offering.

The proposal seeks approval to redevelop the 8,981 sqm site at 249 Esplanade, Pialba, transforming much of the existing 1980s-era hotel and resort into a staged masterplanned precinct while retaining the Hervey Bay Hotel as its centrepiece.

Rather than a conventional apartment project, the proposal has been designed as four distinct towers delivered across four stages, each with a different role within the precinct.

<img alt="First look: Four-tower transformation planned for iconic Hervey Bay Hotel site" data-entity-type="file" data-entity-uuid="89db2163-cdf2-484e-90a0-9804ece86a31" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Pialba%20da%201.png?VersionId=JsYhCwLtFk2p72uhjPQBqQ57.vWoIPeB" />

The largest hospitality component sits within Stage Two, which combines a refurbished tavern, sports bar, gaming lounge, bottle shop, lobby café and wellness facilities beneath a new 52-room hotel and 55 apartments, including 30 dual-key residences. The tower rises 14 levels above the Esplanade and includes gym, spa and wellness facilities together with more than 260 car spaces.

Stage One introduces a retirement living component comprising 69 retirement apartments alongside communal facilities, while Stage Three delivers 59 apartments overlooking the Esplanade. Stage Four includes a retail tenancy at ground level with a further 45 apartments above. Collectively, the masterplan provides 228 apartments across the four towers in addition to the new hotel accommodation.

Urban Planet Town Planning Consultants, acting on behalf of Herbay Pty Ltd, says the redevelopment builds on the long-standing role of the hotel within the Fraser Coast community.

"The Hervey Bay Hotel is an iconic use (notwithstanding the current format) and the retention for this facility in the community as an effective and successful business will advance the goals of the Planning Scheme," the town planner noted in its planning documents.

<img alt="First look: Four-tower transformation planned for iconic Hervey Bay Hotel site" data-entity-type="file" data-entity-uuid="cca3617b-693f-40e2-8fa3-f609c2c95d00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Pialba%20da%202.png?VersionId=8.hhkMuikoiLvoD6ei655Pj9mTKob4xV" />

The planning report argues the redevelopment responds to demand for greater housing diversity, additional tourism accommodation and expanded hospitality offerings within Hervey Bay's established urban area, rather than continued greenfield expansion.

"The delivery of contemporary services in the form of hotels, dining opportunities and short-term accommodation will be the cornerstone of the proposed development and does have a significant community outcome in the retention and expansion of existing services."

The masterplan has been prepared by <a href="https://www.apartments.com.au/architects/oge-group-architects">OGE Group Architects</a> and features three basement parking levels beneath towers rising to around 14 storeys, creating one of the largest integrated mixed-use developments proposed for the Fraser Coast. The design also incorporates gym and wellness facilities, communal recreation areas, retail space and new landscaped public interfaces across the four street frontages.

The site occupies a prominent waterfront block bounded by the Charlton Esplanade, Thomas Street, Watson Street and George Street, immediately opposite the foreshore and within walking distance of Hervey Bay's city centre, Wetside Water Park and surrounding commercial precinct. The existing Hervey Bay Hotel &amp; Resort currently occupies the site, with buildings dating largely from the 1980s.

First look: Four-tower transformation planned for iconic Hervey Bay Hotel site

The transformation of the Gold Coast’s CBD of <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> is underway with the official commencement of one of the area’s first ‘next generation’ towers, the $200 million Maris residences.

More than 250 onsite and offsite workers will deliver the project being delivered by Malaysian company <a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> and its build partner, <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a>.

The start of construction by Binah follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since its market launch less than a year ago.

The project has attracted predominantly local buyers and downsizers, many of whom who live and work in the CBD or the nearby Health and Knowledge precinct.

[smartcode_project:default project_id=134403 project_image_fid=372756]

The commencement of construction was marked by an official sod turning ceremony on site today (Friday, August 7).

MRCB International CEO Ravi Krishnan said MRCB was delighted to be playing a part in the transformation of the Southport precinct.

“We’re very aware of the importance of Southport as the CBD hub of the Gold Coast and the need for high-quality residential facilities for locals who live and work in the area,” said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

&nbsp;

[smartcode_project:default project_id=134403 project_image_fid=350661]

Binah's Managing Director Khalil Hafza said the company was delighted to be constructing Maris in its first foray into the Gold Coast market.

“Binah has been in Queensland for some time but we are very pleased to be given the opportunity to construct a project of such magnitude on the Gold Coast,"&nbsp;Hafza said.

“Some 250 on and off-site tradespeople and consultants will work on Maris over the course of the next two years bringing significant economic benefits to the Gold Coast community.”

Maris will deliver 192 residences across 20 levels. The project forms part of an Australian and New Zealand development pipeline by MRCB now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70% of residences sold.

[smartcode_project:default project_id=134403 project_image_fid=372760]

Positioned next to the Broadwater in the Southport CBD, Maris will sit directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

MRCB and Binah mark start of construction on $200m Maris Residences in Gold Coast CBD

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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Billionaire Lang Walker told Bloomberg  last week that property prices in Sydney and Melbourne have climbed too much.
It was in part an explanation to why his focus is increasingly Malaysia.
“Sydney is a little too hot at the moment,” Walker, executive chairman of Walker Corp, said in an interview in Singapore.
“Melbourne has gone through a period of intense growth and that’s plateaued off.
"The residential market in Brisbane, in Queensland state, still has some potential, he said.
Walker is converting land, previously used for prawn-breeding farms, into swanky apartments, the Bloomberg report said.
 The Johor project in southern Malaysia is expected to be valued at about $US7.5 billion along with an adjoining plot it will develop with a Singapore-based company.
Walker Corp made its foray into Asia in 2008 to develop <a href="https://www.senibongcove.my" target="_blank">Senibong Cove, a waterfront residential project</a>.
Walker said he is looking to increase investments in the Johor region after putting in about $2 billion in the Senibong Cove project. 
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jchancellor-FAypfDUnLy

Walker Corp pursuing more Malaysian residential projects

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A Chinese developer has paid $36 million for the former Matilda Bay Brewery in North Fremantle.
The light industrial site in the Perth suburb is a 2.9-hectare holding.
The 130 Stirling Highway site was a Ford factory before it was a brewery. 
It is expected to hold between 350 and 400 ­apartments, as well as retail and commercial property, subject to council approval and design guidelines, Knight Frank’s WA managing director John Corbett suggested.
It previously sold at $2 million in 1988. 
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Chinese developer pays $36 million for former Matilda Bay Brewery site

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GUEST OBSERVATION
While the overall retail sector continues to face headwinds, there are three reasons why regional shopping centres may be investors’ pick.
<ol>
<li>
One-stop shop: the DNA of regional shopping centres is shifting Many regional centres are boosting their appeal to consumers, stores and investors by changing the way they do business. What could once be described as clusters of specialty and discount retail stores are now emerging as thriving town centres, where key healthcare services including doctors, dentists and optometrists are finally seeing the value in setting up shop. It’s not just local service businesses making a lunge for metropolitan centres either, with international chains such as Zara and Aldi rolling out stores across the major regionals. These big brands may tackle Woolworths and Coles for the anchor position in metro centres, increasing their overall traffic. 
</li>
<li>
Mall traffic will boom when residential developments close in The golden investment opportunity lies in regional shopping centres with great residential potential. As the make-up of regional malls continues to shift towards being a one-stop goods and services shop, over time we can expect to see retirement villages, student accommodation and residential developments built on the boundaries (or on top) of these hubs. CBD centres won’t necessarily have these same residential opportunities but there are key exceptions. A good example of this is David Jones on Elizabeth Street in Sydney, where there are plans for a residential tower to be built above the store. 
</li>
<li>
Regional investment no longer a developer’s nightmare Over the past seven years, supply of new regional mall space has lagged below the long-term average of 2.5% of existing stock. It’s not surprising – the GFC caused developers to fear faltering tenant demand for space, the sustainability of yields overall and therefore the value proposition of adding space. The demographics, however, are in their favour. Australia has the highest population growth in the developed world and with the changing make-up of regional malls we’re starting to see the pipeline strengthen for refurbishments and new developments. Where is this investment activity taking place? South East Queensland is fast emerging as a retail investment hot spot. In 2015-2016, the Queensland retail investment splash will hit Mt Gravatt, North Lakes, Chermside and Pacific Fair. While the overall level of retail activity may not be rosy in the short- to medium-term, these improvements are likely to buttress gains in the longer term. Other major redevelopments in the pipeline include Miranda in New South Wales and Booragoon in Western Australia.
</li>
</ol>
Julia Forrest is REIT portfolio manager at <a href="https://www.btim.com.au" target="_blank">BT Investment Management</a>.
 
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jforrest-H4ErufrJeZ

The three reasons to invest in regional shopping centres

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NAME: Jack Hoffmann<img src="/images/2014/08/20/hoffman-aug-20-profile.png" alt="" style="float: right;">
COMPANY: Satterley Property Group
POSITION:  General manager for Victoria and Queensland
OFFICE LOCATION: 5 Queens Road, Melbourne 
How long have you been in the industry? 
I’ve been in residential development for around 12 years including close to four years at Satterley Property Group.
What’s happening in the area you specialise in?
In Victoria, Satterley is launching new communities in Point Cook and Tarneit later this year, which represents a major investment in Melbourne’s west. These two new communities join the company's existing projects; Coburg Hill and Riverstone at Plenty River. At the same time, we’re always looking for new opportunities to grow our business in Victoria.
Describe the most interesting property you have worked on? 
One of the most interesting sites I’ve worked on is Satterley’s development of Coburg Hill. It’s on the old Kodak factory site which means it came with its own unique set of challenges. The high profile nature of the site intensified both the design challenges and interest from the local community. The development is very diverse and includes the full gamut  - conventional housing lots, medium density housing townhouses and a shopping centre.
What are the ingredients to being successful in your job?
Hard work definitely plays a part as well as keeping a close eye on the market and responding to trends accordingly. I’m also lucky to have a great team working at Satterley; we work hard but we also enjoy what we do.
What aspects of your role do you enjoy the most?
I enjoy the community building aspect whereby we literally start with a paddock and build it into a thriving community. As a developer of new communities, we’re always mindful of the legacy that we’re leaving. This is front of mind in all of the planning that we do.
Where would you invest a spare $750,000?
I’d invest in a townhouse at Satterley’s Coburg Hill development. The townhouses are large enough to accommodate a family whilst having the added benefit of requiring very little maintenance. Perfect for owner-occupiers and investors.
Which football team do you support?
Hawthorn
What’s your favourite app or techno gadget?
iPad and mobile phone.
How do you use social media?
I use social media mainly to keep in touch with friends or as another way to stay in contact with colleagues from the industry through platforms like <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/jack-hoffmann/51/aa3/196" target="_blank">LinkedIn</a>.
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jrichardson-uRX5hFdKfN

In profile: Satterley Property Group's general manager, Victoria and Queensland, Jack Hoffmann

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GUEST OBSERVATION
My career in real estate began as an interest. I had bought and sold a couple of properties personally, lived overseas, raised two small children and took it up as what I called ‘my fun, little part-time job.’ Back then, I loved getting into a suit three days a week and going off to work, doing open homes, doing call backs, organising my boss and helping her find business and winning listings. I loved it.
While I was doing this, I learned as much about real estate as I could, not because I wanted to be a gun agent but because I loved it. When you love something it's pretty normal behaviour to want to know as much about it as possible - I guess I get pretty passionate about things.
A career in sales is not for everyone, but for those who excel in it, it can be a very rewarding occupation. Starting off in real estate can be very daunting and as a ‘newbie,’ looking around and admiring all the top agents in the area often leaves people thinking, "could I possibly be as good as them?” There is so much to learn and this job is so varied. 
My light bulb moment came one day after being with the company for more than five years. After seeing so many mediocre agents out there in the industry I wanted, and chose to be, one of the good ones.
How was I going to be a successful real estate agent? I was lucky enough to work (and continue to do so) with a great team of sales experts and watched and listened and learned from all of them. In fact, I’m still learning and in this occupation, you can never stop learning.
I also had a strong belief that I could put my six years of experience into practice - one step at a time. For six years I had told everyone I knew that I was in real estate, so when I was ready I made it known to them again. My database had grown, my kids went to the local primary school and I started sponsoring the school and working my little patch.
From day one I have believed that if you treat people really well for their benefit, it all comes back to you, time and time again. Most importantly, I believed in myself.
Each year I would set a goal and I knew I was the only one accountable for this. Each sale I made, I ran with it, dropping my ‘just solds’ around the whole area, ringing around my database. One sale at a time. For the first year I never once looked at my debit/credit – whether I was actually making any money. Each year my goal was to sell one more property (not based on earnings). This is still my goal.
When I look back at my career and advise younger agents, there are three clear attributes that successful real estate agents generally possess.
<ol>
<li>Pick the area you want to work in for the rest of your career and become the area specialist, the communities trusted advisor. Own your patch, work your patch and aim to become the agent of choice. Always deliver on a promise, and return all enquiries on the same day. If you are good to people (honest, fair and provide exceptional service), they'll be good to you. Connect with as many people as you can as you’ll only ever reach as far as your network allows. </li>
<li>Set realistic goals and work hard to achieve them. Don't get caught up looking at the dollar signs, focus on how many listings you can get. Slow and steady wins the race, working on improving your skills and building your listings is the path to success. Goal-setting is crucial. Success doesn’t happen overnight and you may not start making money for a year or two. Take a long-term approach. </li>
<li>Success takes dedication and sacrifice. Be disciplined and set your own winning formula. Constantly think of ways to improve. Work harder than anyone else when you are new. Be confident. Be humble. Don't waste time, be adaptable. It will be a hard slog to begin with but if you aim to build momentum and continue to work hard you will succeed.</li>
</ol>
Stephanie Hearne has been awarded <a href="https://www.century21.com/" target="_blank">Century 21</a>’s top Australian salesperson for the past three consecutive years.
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The three common traits of successful real estate agents

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Economic wellbeing declined during the second quarter of 2014, with preservation of lifestyle becoming the chief concern of 47% of those surveyed, according to ING DIRECT’s Household Financial Wellbeing Index.
The five top concerns
<ol>
<li>Maintaining current lifestyle (47%, but increased to 56% for baby boomers)</li>
<li>Managing new costs from Federal Budget (45%)</li>
<li>Meeting large on-off costs, e.g. home renovations or car maintenance (31%)</li>
<li>Job stability (25%, but up to 40% of Gen Y households)</li>
<li>Increasing debt (18%, but totalling 25% of Gen Y households)</li>
</ol>
Source: ING DIRECT
This has led to the financial ambitions of Australians surveyed being larger about reducing spending and holding onto funds. A total of 44% wanted to save more, with 63% of Gen Y putting this as their priority.
Reducing the cost of living (41% overall, 50% of baby boomers), cutting back on discretionary spending (32%), getting a better paying job (18% overall, 30% of Gen Y) and earning more by working longer hours (10% overall, 20% of Gen Y) were the top finance ambitions.
The trend towards maintaining, rather than improving, lifestyle came as a worry to ING DIRECT executive director of customer John Arnott, who noted that costs are rising faster than incomes.
“On the plus side, households are taking responsible steps to preserve and even improve their financial wellbeing, with many looking at ways to actively cut costs rather than relying on increased debt, which can lead to greater financial pain further down the track,” said Arnott.
The Household Financial Wellbeing Index measures sentiment across debt, income, investments, savings and ability to meet household bills.
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Australians' top five financial concerns: ING

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A Queensland fast food franchise that has been operating for 27 years has collapsed into receivership.
A notice lodged with the Australian Securities and Investments Commission shows Jonathan Paul McLeod of MacLeod &amp; Partners was appointed as administrator of Brodies Mealmakers on July 29, with Michael McCann and Graham Killer of Grant Thornton appointed receivers and managers.
Brodies Mealmakers currently operates 11 fast food restaurants in Queensland, with the stores a mix of company-owned and franchised stores.
McCann confirmed to SmartCompany he is the receiver and manager for five entities in the Brodies Mealmakers Group, but it is not clear if the franchised stores are also in receivership.
McCann says he is continuing to operate the group on a “business as usual basis”, but declined to specify the annual turnover of the company or the reasons for the collapse.
A spokesperson for Brodies Mealmakers also confirmed to SmartCompany the company is in receivership but declined to comment when asked if all 11 stores in the group are in receivership.
According to the Brodies Mealmakers website, the business was established in the Queensland town of Gympie in 1987.
The restaurants specialise in roast chicken lunches and dinners, offering dine in, takeaway and drive through services.
SmartCompany attempted to contact MacLeod &amp; Partners but did not receive a response prior to publication.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Queensland fast food chain collapses after 27 years of operation

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Looking at where the most affordable dwellings are within 10 kilometres of each city’s CBD, RP Data’s research analyst Cameron Kusher paints an intriguing picture of each state and territory’s apartment markets.
The list, which spans from Sydney’s cheapest, <a href="/news">Wolli Creek</a> for a $710,303 median house price, to Hobart’s <a href="/news">Clarendon Vale</a>, for a $159,159 median house price, includes the five most affordable suburbs for houses and units within each capital city.
Kusher notes that investors and owner occupiers may be surprised by the data, which suggests affordable inner city options exist.
“We’re witnessing a familiar trend across most cities where demand for housing is particularly strong across the inner city areas of the city,” said Kusher.
“With low mortgage rates, buyers are battling it out to purchase homes close to the city centres - of course areas closer to the CBD tend to be much more expensive than those areas further away.
“Inner city suburbs are also generally better serviced by both essential and desirable amenities such as schools, medical services, shopping centres, social amenity, roads and public transport infrastructure,” he said.
He explained that in Sydney and Melbourne the cost of housing remains expensive, even on this cheapest list, due to high demand and low supply. While units are an alternative to houses for some to access the market, there are still restrictive price points.
He also noted that the cheaper areas that emerged on the list are often seen as less desirable, but are in urban renewal areas. For this reason, he suggests that home values may increase as mortgage rates remain low and buyers are priced out of houses.
“This scenario creates good opportunity for other city areas - if buyers can’t afford to purchase a home within the inner city, they will most likely look to those locations that tick as many of the inner city boxes, just at a lower price point than the inner city areas,” he said.
“Given this, suburbs featuring quality public transport connections, abundant retail and social amenity, quality schools and medical amenity will likely see renewed interest as inner city buyers look to these more affordable alternatives.”
See over page for the city by city breakdown.
<hr class="system-pagebreak">
<img src="/images/2014/08/19/rp-data-aug-19-one.jpg" alt="">
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The most affordable inner city suburbs: RP Data’s city by city reveal

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The University of Melbourne has the largest number of international students studying on campus, according to latest figures released by <a href="https://aei.gov.au/research/Research-Snapshots/Documents/International%20students%20in%20Australian%20unis%202013.pdf" target="_blank">Australian Education International</a> (AEI).
The total international student enrolments in Australia in the higher education sector dropped by 0.8% in 2013 to 216,298, or 18.8% of the total student population.
The AEI research figures revealed the University of Melbourne had 14,165 onshore international students in 2013, accounting for 27.1%.
The University of New South Wales ranked second with 13,123 onshore international students.
Next followed by Monash University with 12,271 onshore international students.
There were 410,925 international students from 193 countries studying on a student visa in Australia in 2013. 
<img src="/images/2014/08/18/students-aug-18-one.jpg" alt="">
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International students head to University of Melbourne and UNSW

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First it was the fashion giants Topshop, H&amp;M and Uniqlo. Now it seems Australia is becoming a hot spot for global sports retailers.
Following the news of UK-based Sports Direct’s <a href="https://www.smartcompany.com.au/growth/42841-ozsale-partnership-brings-sports-direct-down-under-four-things-you-didn-t-know" target="_blank">deal with local online shopping club Ozsale.com.au</a>, Switzerland-based Intersport will this week officially launch in Australia.
The global retailer, which has around 5,700 stores across 66 countries including popular footwear chain The Athlete’s Foot in the US, has chosen to enter the market through an existing retailer, with close to 40 stores under the Independent Sports banner to rebrand to Intersport over coming months under a license agreement.
Kevin O’Hanlon, previously chief executive of the Independent Sports group and now chief executive of Intersport Australia, said 32 stores have already been rebranded under the Intersport name, with another five stores to be completed by the first week of September.
The group of 37 stores turns over approximately $130 million each year.
There are another 22 stores in the Independent Spots group and O’Hanlon hopes those stores will convert to Intersport over coming months.
But the transition of the stores is just the first step in Intersport’s plans in Australia, with O’Hanlon saying the group hopes to have 50 stores operating within three years, growing to 100 stores in five years.
O’Hanlon says the Independent Sports group is now the franchisor for Intersport in Australia and he has already received a number of enquiries from other independent sports retailers about joining the group.
Intersport sells sportswear and equipment, including big name brands such as Nike and Adidas, as well as McKinley, Firefly and Energetics.
The private company is owned by 13 master franchisors in Europe and Canada and, according to Fairfax, recorded annual revenue of €10.3 billion ($A14.8 billion) in 2013.
O’Hanlon says brand recognition is “clearly the number one benefit” for the independent stores joining the Intersport group, as well as access to the Intersport global trading terms and its exclusive private label brands.
“It’s well known the sporting goods industry is being challenged and it will continue to be challenged,” he says.
“So trading under a common, global brand gives great solace to these mum-and-dad businesses.”
“It’s also been shown that consumers have a desire to buy from global brands.”
O’Hanlon says sport “is an essential pillar of Australian society”, and that’s attractive to global brands such as Intersport.
“We know that, we live that, we love that as Australians,” he says.
“We intend to offer that passion, the best advice, the best product selection in the world from the best brands, and deliver that on a local level.”
Brian Walker, chief executive of the Retail Doctor Group, said other sports retailers will be watching Intersport’s moves “with keen interest”.
“In terms of sports retailing in our country, the independent specialty, small retailer has really gone, and now it’s the days of the Rebel Sports and Amart,” says Walker.
“It’s good for consumers. It’s a global brand and it will introduce a more competitive flavour to the domestic market.”
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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