<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

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.

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>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Investor Stories

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GUEST OBSERVATION
I never in my wildest dreams thought that I would be able to buy quality property in Sydney under $300,000…
But the GFC awarded me this moment in time that we absolutely took advantage of it. <a href="/news">Campbelltown </a>(Macarthur Shire) was the spot.
But why Campbelltown? It made for some great buying, simple!
The south-western Sydney location had all the ingredients of a great investing location with a fast growing population, great accessibility to employment in Sydney CBD or growing commercial and industrial sectors in Minto and Hoxton Park through either the M5 freeway or by train.
The last key ingredient was the GFC. This caused house prices to drop dramatically and consumer confidence to go out the window, allowing me to have no competition with other buyers and allow for some pretty low offers to secure some great deals.
This all happened for us in 2009. I was that confident in the area that I purchased eight properties there. Well, that’s all the past and now is what we want to all hear about, the results.
I am glad to say that we have had a few investors recently sell their properties in Campbelltown for what I would call “very impressive” results.
We were that confident, we even filmed the first property to be auctioned and it went better than expected!
The reason for some of our clients selling is to grab the profits they made from their investment property and pay down their home loan in a lump sum. Imagine having a home loan for $300,000, being able to drop $100,00 plus onto it in one go, making it $200,000.
Wouldn’t that increase your cash flow dramatically?
With a quick loan re-adjustment, it sure would!
But, you don’t stop there – now your cash flow has increased along with the available equity in your home, you go back out and buy two or three properties.
When two of those properties mature in value, you do the same and pay off your home loan in full!
Since this, we’ve had another great result with a client selling their house we purchased for $298,000 and sold for $412,000. 
Back to the story, I congratulate these investors doing what most wouldn’t – invest when everyone else ran away and they will reap the rewards for doing so.
TODD HUNTER is buyer’s agent, director and location researcher for Sydney-based <a href="https://www.wheregroup.com.au/" target="_blank">wHeregroup</a>.
He reached a personal investment portfolio of 50 properties in 2006 and has also started building an SMSF portfolio.
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thunter-umjjMzoT8b

The investors who bought when everyone else was running away are now reaping the rewards

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Real estate experts, commentators and industry members are regularly listened to carefully for tips and information on where to invest next and how the market is performing, among other advice.
However, every expert had to start somewhere. Property Observer asked a number of industry experts about their first homes, where they were, when they bought them and why. The results, which span across Australia, are a fascinating insight into their first step on the property ladder.
TERRY RYDER - <a href="https://www.Hotspotting.com.au" target="_blank">Hotspotting.com.au</a> <img src="/images/authors/fullbody/Terry-Ryder.png" alt="" style="float: right;">
<ul>
<li>Location: <a href="/news">Bundamba</a> in Ipswich City in the south-west of the Brisbane metropolitan area.</li>
<li>Price purchased for: $25,000</li>
<li>Year purchased: 1981</li>
</ul>
 Do you still own the property? 
No, I sold it in 1984 for $40,000 (which was 60% growth in three years, proving that ugly real estate in downmarket suburbs can show exceptional capital growth). I then bought a house in the eastern suburbs of Brisbane for $50,000, which I later sold for $110,000.
Why did you buy that property? 
It was what I could afford at the time: a small weatherboard box on a noisy road in a fairly dismal suburb, but it was affordable and it was close to a commuter train station.
Did you renovate?
No, no renovations.
Why did you want to buy? 
I was fed up with being mistreated by landlords, so I decided to buy my own place.
TODD HUNTER - <a href="https://www.wheregroup.com.au/" target="_blank">wHeregroup<img src="/images/authors/fullbody/hunter-profile-2.png" alt="" style="float: right;"></a>
<ul>
<li>Location: <a href="/news">Cronulla</a>, Sydney NSW</li>
<li>Price purchased for: $112,000</li>
<li>Year purchased: 1993</li>
</ul>
 Do you still own the property? 
No I don't, it sold for $256,000
Why did you buy that property? 
It was my first home, a one bedroom unit very close to the water with a tandem car space. It started a love for property for me that is still there.
Did you renovate? 
Paint and carpets only.
Why did you want to buy? 
It was my first home and my parents instilled the property bug in me early as I purchased when I was 19 (after much saving for the 20% deposit is set up costs with my girlfriend... There was no first home owners grant then either).
ANDREW WILSON - <a href="https://apm.com.au/" target="_blank">Australian Property Monitors<img src="/images/authors/fullbody/Andrew-Wilson.png" alt="" style="float: right;"></a>
<ul>
<li>Location: <a href="/news">Camberwell</a>, Victoria</li>
<li>Price purchased for: $95,000</li>
<li>Year purchased: 1986</li>
</ul>
 Do you still own the property? 
No. Good growth as purchased at bottom of the cycle before the 1988 boom.
Why did you buy that property? 
Great location, big block in a sleeper street - but in original condition (plenty of upside potential).
Did you renovate? 
I completely renovated and rebuilt.
Why did you want to buy? 
I’m Australian – the aspiration for home ownership is in our DNA.
MICHELLE COLEMAN - <a href="https://www.wfinancial.com.au/" target="_blank">W Financial<img src="/images/authors/fullbody/coleman-uly24-profile.png" alt="" style="float: right;"></a>
<ul>
<li>Location: <a href="/news">Quinns Rock</a>, WA</li>
<li>Price purchased for: H&amp;L for $95,000</li>
<li>Year purchased: 1995</li>
</ul>
 Do you still own the property? 
No, I bought it with my partner at the time.  He does actually still own the property and it is estimated to be now worth around $550,000 to $600,000.
Why did you buy that property? 
It was what we thought we could afford at the time (that was closest to the beach of course), but also we thought the area would have good growth.
Now I look back with all my knowledge with finance and investing and wonder how we could have made our decision that way!
Did you renovate? 
We had to do some landscaping as it was house and land.  
At one point I really wanted a spa - it wasn't ever fully installed (when I was there) but I'd sit in it anyway.
We didn't have fences though at the time, so random people in the neighbourhood would wander by to have a chat.
Why did you want to buy? 
It's the great Australian dream; I wanted that like everyone does. That property didn't quite go to plan, but it did give me an appetite that has made me the investor I am today.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
BRAD BEER - <a href="https://www.bmtqs.com.au/" target="_blank">BMT<img src="/images/2014/08/15/Bradley-beer-aug-15-profile.png" alt="" style="float: right;"></a>
<ul>
<li>Location: The property is located slightly to the west of the main city of Newcastle in a suburb called <a href="/news">Georgetown</a>, NSW. It’s quite close to the Newcastle Knights stadium and the University of Newcastle, right near a bus stop and 300 metre from a Coles.</li>
<li>Price purchased for: The property is a four bedroom, one and a half bathroom house on 400 odd square metres of land with a big shed in the rear. I purchased it for $170,000. The current rental of the property is around $440 per week.</li>
<li>Year purchased: 2002</li>
</ul>
Do you still own the property? 
I still own the property, which has been well-performing since the day I purchased it. In fact, I’m generally a believer in not selling property, particularly when it has demonstrated a great deal of growth. I haven’t actually sold a single house to date.
Why did you buy that property?
I actually went to Newcastle University myself, so I was familiar with the area which I still think is quite a good area. I wanted to invest into property and someone I knew who was buying property was looking at the area and brought it to my attention.
It looked pretty rough when I bought it, so we negotiated hard because it was originally listed at $198,000. I also liked that it had a sizeable shed, because I thought I might have been able to use it in some way for storage purposes – every man needs a good shed in his life!
Did you renovate? 
I renovated it a couple of different times actually. When I bought it in 2002, I basically spent the first few months on a pretty decent internal renovation. I pulled the kitchen apart and discovered that it was full of cockroaches, it was an absolute mess, even the bathroom was a mess – it was all in pretty bad shape. So I got stuck into it and put together a new kitchen and a new bathroom.
I also had to put in new flooring and piers, and completely reline the bathroom. I polished floor boards, I painted, I basically just spruced up the whole of the inside. Even though I didn’t change any of the internal walls there was still a fair bit of work to be done, but I probably only spent about $20,000 because I did just about all the work myself.
I worked nights and weekends in the middle of winter in the freezing cold, but then about six months later we did a re-evaluation and it came in at about $240,000. This was great because I hadn’t done any exterior renovations by that point, so it had still gone up even though it still looked pretty bad from outside. There was probably also a bit of market movement around that time which would have helped, so I was able to leverage into my second property pretty quickly.
Then in about 2005, I did a fairly extensive external renovation also. It had those old forever boards on it, which I ripped off to put new weatherboards around the whole of the house. I painted the roof and did a fair bit of landscaping, adding in a picket fence, a new driveway – just basically renovated the whole of the exterior. In 2007 I revalued it at $425,000.
I’m still going on it. About three years ago I put on a new roof because it was old and needed replacing. It probably needed replacing when I bought it actually, but I’d just patched it up and put up with it for a while until I could do it properly.
Why did you want to buy?
I’d been at BMT for about three or four years by that point, and had the opportunity to learn a great deal about investing in property. I’d also been to a number of different property seminars then, and have been to a lot more since, and believed I wanted to invest into property based on what I’d learnt about investing in property to generate wealth. I’d also saved up my deposit by then and so was just ready to go.
Essentially, being at BMT and being surrounded by investors all the time, learning about investing in property and the fundamental ways to do that – I decided: right, now it’s my turn.
VICTOR KUMAR - <a href="https://www.rightpropertygroup.com.au/" target="_blank">Right Property Group<img src="/images/2014/08/15/kumar-aug-15-profile.png" alt="" style="float: right;"></a>
First home:
<ul>
<li>Location: <a href="/news">Currans Hill</a>, NSW</li>
<li>Price purchased for: $137,000</li>
<li>Year purchased: 1998</li>
</ul>
 Do you still own the property? 
Yes. It was valued by the bank last week at $420,000. I lived in this untill 2006 and it is currently rented at $410 per week.
Did you renovate?
Removed carpets and put in floating floorboards because of my allergies. Also starting painting the trims at one stage, following a Peter Spanns renovation seminar in 1999, they are still half complete! During tenancy the only works I have done has been to replace a powerpoint... having said that I will now probably jinx myself!
First investment property:
<ul>
<li>Location: <a href="/news">Campbelltown</a>, NSW</li>
<li>Price purchased for: $70,000 (two-bedroom unit)</li>
<li>Year purchased: 1999</li>
</ul>
 Do you still own the property? 
No, I sold it in 2001 to fund the business startup for $185,000.
On purchase it was rented for $130 per week, on sale it was rented for $230 per week with the same tenant. Under the current market value it would be around $290,000.
I wish I hadn't sold and had bought more of these units back then!
MARGARET LOMAS - <a href="https://destiny.com.au/dotnetnuke/en-au/home.aspx" target="_blank">Destiny</a><img src="/images/authors/fullbody/Margaret-Lomas3.png" style="float: right;">
My first investment property, a one-bedroom unit. It had a green shag pile carpet and a weird T-shaped lounge, which we sectioned off with a wall to make a second bedroom.
<ul>
<li>Location: <a href="/news">Cabramatta</a>, New South Wales</li>
<li>Price purchased for: $28,000</li>
<li>
Year purchased: 1980 
</li>
</ul>
Do you still own the property? 
Back then no one understood leveraging.  I sold it to buy a three-bedroom townhouse in <a href="/news">Macquarie Fields</a>. In the two years we owned it, it grew by $6,000. That's probably pretty good!
Why did you buy that property?
My dad said we had to get into the property market, I was 20 and engaged.  It was the only area we could afford.
Did you renovate? 
We painted it, and added a shower screen to the tiny bath but that was all.
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jduke-EHk3XBmHkn

Where the experts bought their first homes

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One of the joys of my job is listening to people's investment stories - how they've achieved what they have so far and where they are heading.
One of our female clients has six children, is an accountant and owns eleven investment properties after completing two property developments with Property Bloom. To state the obvious, she's time poor, I've written about Rachel in the past...
<a href="/expert-insights/buying/focus-determination-and-drive-are-key-to-property-investment-success-jo-chivers">How does a mother of six come to accumulate eleven investment properties?</a>
Another client is a family man and fellow soccer coach, man does he loves his football! We met years ago as our sons played for the same club, but he didn't know what I did until he read an article in a property magazine that I'd written. Busy with work, soccer and family commitments and with no development experience, he asked me to manage a project for him. Then he embarked on a long-term holiday; we organised the builder to pre-invoice his drawdowns so we could manage the bank payments while he toured Europe.
Another lovely couple recently completed a three villa development with us, she works at a university and he's an engineer, both highly educated. They referred their daughter, a law (and soon to be medicine) graduate to us for her first property investment - a dual occupancy project. She was our youngest ever client. When we completed villas, the parents signed up for another project; they had little spare time and I think most importantly, we'd earned their trust.
We managed one development for a client who we are very proud to say served our country in the Australian Army in Afghanistan. She was there right through the duration of her development. I really cherished the updates we would get from this lady, when she had email access, and was amazed at some of the conditions she had to endure. No running water for days – how is a girl to wash her hair!  Needless to say, she had important things on her mind and could not have managed her own development from an active war zone. I've written about her story before too:
<a href="/expert-insights/investing/don-t-let-a-war-get-in-your-way-when-investing-in-property-jo-chivers">Don't let a war get in the way</a>
All our clients are different - they come from varying backgrounds, cultures and employment and we love working with such diverse clientele.  
But there is a common thread I have noticed.
All of our clients are highly driven and time poor.  They are conscious that there is a limited amount of time available in which to build their wealth.  They've told me, that to outsource the management of their property development to someone more experienced and capable was a no brainer. They openly admit that whilst passionate about property development, there is a knowledge gap and for them to come up to speed would take years.
To handover this responsibility to us lets our clients keep doing what they do well, earn a salary to support their financing and spend precious time with those they love.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

Even the most time poor people can create a property success story

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GUEST OBSERVATION
Al, my business partner, and I were recently out at one of the secondary schools talking to the students about the basics of investing and property as an investment option.
But I decided to start my property section a little different from usual and I think it really woke them up.
I wanted to provide them insight to the property world that most Australians never get.
Here’s how it went…
I started explaining to them that I had a friend named Leigh, who when growing up was mesmerised by Hollywood. He loved film making and a bit over 10 years ago wrote a movie script for a little film called Saw. When Leigh and his mate James landed in Los Angeles the first time they were swept off their feet by Hollywood executives and were promised the world. They rejected all offers to purchase their script and decided to hold onto the movie rights. They made Saw and have now gone on to make other films like Insidious, The Conjuring, and James currently directing the latest Fast and Furious film. So yes these boys made it big time.
Hollywood is called 'tinsel town' for a reason. There are lots of bright lights but these lights are only there to cover up the rotting core. Talking to Leigh over the years he explained to me that Hollywood is very similar to the way I describe one part of the property industry. The part I relate to Hollywood is what I call the property advisory or seminar circuit.
The thought of making it big time seems fantastic, but something in your gut just doesn’t feel right. This is how Leigh felt about Hollywood and this is how I felt about the property industry.
Wherever there is large amounts of money there will be sharks. So I told the kids I was going to do an exercise and if they participated they would see the advisory or seminar circuit for what it really was. They would hopefully then be able to remain safe as they ventured into the property investment world.
So Al and I split the room up in two. We put on some pumping music and started throwing $20 notes into the crowd. We worked the kids up to a frenzy getting them to yell ridiculous things back and forth at each other. They had an absolute ball and pocketed some quick cash in the process. Al and I joined in the yelling and ran around high fiving all the kids.
I then turned the music off and asked them to sit down. I asked them if any of them had been to a property seminar.
None raised their hands.
I told them that they all had now just been to a property seminar and went on to discuss that the majority of property seminars are design to follow on with charging you for overpriced education or over-inflated property purchases.
Here are some of the points we then discussed.
The dictionary defines a scammer as the following: "Swindler / Scammer: a person who swindles you by means of deception or fraud."
When it comes to buying property we are talking about large sums of money. We are not buying lollipops. Sadly this brings in the sharks.
Signs that the sharks are circling.
<ul>
<li>Pumping music aimed at getting you hyped up. Smart investors do not buy on emotion.</li>
<li>Visuals of money or luxury items.</li>
<li>The presenter positions themselves as a saint. They tell you about the charity that they support. Philanthropists do not promote the fact that they give their money away. If someone promotes the fact that they are a philanthropist this is a big tell-tale sign that they want to take more than they give.</li>
<li>Questions asked multiple times like ‘Are you ready to change? Are you ready to take action? Are you ready to make the sacrifice?’ If you hear this you’re about to be the sacrifice.</li>
<li>Act now, price reduction offers during or at the end of seminars.</li>
<li>No discussion on the risks of investing. This should be the centre of an education session. I always find it amusing that risk is either skimmed over or never discussed.</li>
<li>The promise of getting rich quick. Remember smart investors get rich slow.</li>
<li>Promises of above average returns.</li>
</ul>
I told the kids that they should always question and advisors motivation. To understand why someone is promoting a certain product or service, you need to firstly understand how they are paid. 
These were pretty smart kids so hopefully this lesson will keep them safe in the years to come. 
Cam McLellan is a successful property investor, businessman and the founder and CEO of <a href="https://openwealthcreation.com.au/" target="_blank">Open Wealth Creation</a>. 
Open Wealth Creation advise, coach and guide people through the property investment process including arranging finance and choosing property to finding tenants and portfolio management.
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cmclellan-94LEvYTinN

How to stay safe from the property sharks

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I think the beginning of a new financial year brings much hope and optimism, a bit different perhaps to the start of a calendar year when we are usually still in holiday mode.  
Now is a good time to reflect on our investments and think about how we can continue to grow our property portfolios.
This week I've received a few depreciation reports that I'd ordered for clients, as we'd recently completed their property development projects. I love reviewing a project on completion. As part of our project management process, as a development nears completion we arrange rental appraisals, order market valuations and analyse the project. We check the builder's final payment and the credits or variations received during the build phase then we add the actual build cost to our Project Analysis.
I love watching my spreadsheet change as we add the actual results. We remove any contingency we had left in the project and see the real cost. The actual rents are included and we can see the real yield and when the valuations come back, we replace our estimated end values with the market valuations to see how much equity has been created. 
The final costs and the handover date is confirmed with our quantity surveyor so they can finalise the depreciation reports. In the last dual occupancy project there was  $20,340 in year one using the diminishing method. This combined with the rental return will almost always make a dual occupancy project cash flow positive for our clients as gross yields are around 6-7%.
Did you know that these items are also taken up in the depreciation schedule?
<ul>
<li>Preliminaries such as architect and engineering fees;</li>
<li>Contractors margin;</li>
<li>Authority fees; and</li>
<li>Consultants fees.  A project management fee can also be included here.</li>
</ul>
Once we determine our final project management fee, we ensure that it is also reported to the quantity surveyor to include in the depreciation schedule.
In this dual occupancy project, our client was pleased with the $107,782 of equity created in 11 months and the high depreciation benefits and decent rental yield....well who wouldn't, considering they have never even seen the land or completed villas and let us project manage all the work for them?
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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End of financial year is a good time to reflect on your investments

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I had learnt a little about suburb lifecycles recently  - how a suburb can change over time.
Generally speaking new areas usually attract young couples and families, but also some mature aged people like grandparents wanting to be close to their grandkids and who can help support and care. So it's important that new areas do have a mix of housing available. 
I've recently been researching a new location after finding a good dual occupancy development site there. 
In the past, I have put this suburb aside as the land was expensive and generally lot sizes smaller, however a large enough site came up and as I ran the figures on it, my heart beat increased!
This suburb was experiencing fast growth due to new land estates opening  and there was a fair amount of land to be released in the location. Because of this, the government had allocated money for community services, facilities and infrastructure.
The suburb is also very well located being only 20 minute drive into Newcastle CBD.  In the new estates, it was predominately large four or five bedroom family homes being built and even though the land was expensive reflecting the facilities of the master planned estate, after some research I could see the opportunity for good demand for smaller dwellings.
The area was popular with families building new homes and wanting to be close to good quality schools - there is a well regarded primary and high school within walking distance. Parents could work in Newcastle and be home early for the family.
The estate offers a bushland location with beautiful views over wetlands, quality sporting fields, a community centre and a new shopping village had popped up within five minutes with a shiny new Coles open and Aldi store under construction.
The M1 freeway access to Sydney is just a few minutes drive away. This estate was well placed location wise and also for future growth.
For me, building three bedroom villas in a location that is dominated by four or five bedroom houses makes a lot of sense. There would be several markets for these villas on completion; young people who can't yet afford to build the larger homes, separated people looking for smaller dwellings, single parents and empty nesters looking to downsize. I think if the location and facilities are good, a lower entry point for rent and sale prices - can be a good differentiation for your development.
Also sales of the larger, more expensive dwellings could impact positively on the values of smaller dwellings if there are no direct comparable sales.  There could be good demand from renters wanting all the benefits of the estate for a smaller outlay.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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A good mix of dwelling size is important

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The federal budget certainly sent shock waves through the economy, but according to the ANZ-Roy Morgan consumer confidence index it appears to be recovering.
Consumer confidence has improved a further 2.4% over the past week, bringing the total improvement in confidence to 6% over the past month.
Also helping investors feel comfortable is the fact ME Bank are still offering a three year fixed rate at 4.69%, which gives investors more confidence about the future.
Property investors have already begun to re-enter the property market, but these two events are only going to add to the momentum. They will begin to change their thinking from ‘if’ they should buy property to ‘what’ they should buy and will be torn between the logic of two radically different investment strategies.
One says it’s always best to buy property that’s positively geared. This means that holding costs like council rates, insurance, maintenance and interest on the loan are less than the rental income received.
The second argument says it’s better to buy property that’s negatively geared, meaning that holding costs are greater than the rental income received. You fund the shortfall from your own pocket, giving you a ‘negative income’ which you then claim as a tax deduction.
In reality, these arguments are doomed to go around in circles. There’s no one right or wrong answer that applies to every investor. Each purchasing strategy has its upside and downside; both of which should be considered before making a decision.
Let’s start by looking at positively geared property. Generally speaking, the high-buy in price of most properties in capital cities means that to buy a positively geared asset, you must purchase in a regional or rural area where prices are lower. This may leave you with a relatively modest mortgage, making it easier to enter the property market, and easier to fund the holding costs from rental income alone.
The downside, however, is that positively geared property may have a lower capital growth rate. Every property’s value is determined by the ratio of two components: the land and the building. Land appreciates, or grows in value; whilst buildings depreciate or fall in value.
In regional and rural areas, land values per square metre tend to be low because there’s plenty of land available compared with the level of buyer demand. This means the building accounts for most of the asset’s value. The building may lose value faster than the land can gain value—hampering long-term capital growth.
Let’s compare this with buying negatively geared property. When the buy-in price is high, the land value probably is. This is the upside of negative gearing; you’re more likely to have purchased in an area with a limited supply of land relative to buyer demand. The land component makes up a higher proportion of the property’s overall value, giving the asset strong capital growth potential.
On the downside, buying a negatively geared asset means that whilst your long-term risk may be lower, your short-term risk may be higher because you have to find a way to fund the difference between holding costs and rental income from your own pocket. This can create cash flow pressure, particularly if you incur an unexpected expense such as an interest rate rise or urgent repair.
In short, it’s a case of short-term gain and possible long-term pain (positively geared property) versus short-term pain for possible long-term gain (negatively geared property). To decide which is right for you, it’s important to assess your financial circumstances.
First, consider your level of disposable income. If you have spare cash to cover the difference between your holding costs and rental income, buying a negatively geared property may be appropriate. On the other hand, if your budget is tight, negative gearing may be too hard an ask, and a positively geared property may be a better way to go. The capital growth won’t be as strong, but at least you’ll be in the market.
Second, consider how long you’ll be earning a good income. To ride out market fluctuations and recoup purchasing costs, property should be viewed as a long-term investment; at least seven to 10 years. If you’re close to retirement and a substantial drop in income isn’t far away, adopting a negatively geared strategy may not be viable. In this case, you should consider investment options that don’t require you to contribute funds from your own pocket. By contrast, if you’re many years away from retirement, you may have enough income over the long-term to fund the shortfall from your wage or salary. 
Whichever gearing strategy you choose, go into it with your eyes open.
Mark Armstrong is a director of <a href="https://ratemyagent.com.au/" target="_blank">ratemyagent.com.au</a>, Australia’s number one real estate agent rating website.
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marmstrong-sd3emVLPPb

Positively or negatively geared property: Which strategy will work best for you?

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Larry Kestelman (pictured right), a property developer with more than 20 years experience, heads LK Property Group, among other real estate businesses.<img src="/images/2014/06/24/Larry-BW.jpg" alt="" style="float: right;">
Kestelman founded telecommunications company Dodo, which was sold to M2 Telecommunications Group for $203.9 million in 2013. He remains a major shareholder.
He is also director of Oxygen Ventures, which invests in and develops up-and-coming businesses.
Kestelman talked to Property Observer about the outlook for the Melbourne residential property market, an upcoming product launch and the way he runs his businesses.
What are your views on the outlook for the Melbourne property market?
The market is very good. We’re doing well with sales. We produce quality product and there’s demand for that.
We are reasonably bullish about the Melbourne property market.
We don’t concentrate on only one suburb. [Our properties] are selling well and getting interest from local and overseas buyers.
The overseas market is still strong. Australia is an attractive place to live, work and study.
Locally, we’re definitely in a good moment in time with low interest rates. We’ve got a lack of supply and there is a shortage of quality development sites. I look at what’s in the pipeline and it’s hard to find quality sites.
Tell me about your upcoming launch.
It’s a joint event between LK Property Group and Qantas Frequent Flyer on June 24. We first initiated our affiliation with Qantas in 2013.
We are the exclusive partner for Qantas for property in Melbourne and we develop a number of properties around town and market them to Frequent Flyer members.
About 600 members of the Frequent Flyers program have been invited to attend the invitation-only launch event in Melbourne’s Docklands.
I’ve been in property for 20 years and over the last four to five years there have been different gimmicks but the only true loyalty program that works is the Qantas Frequent Flyer program. It’s a way to reward clients and keep them coming back.
LK Property Group uses mainly in-house design, trade, marketing and sales staff. What is the advantage of this strategy?
To achieve a consistent result over a long period of time it’s hard to get different contractors to do the work: as their interest wanes, you get a different result. If you build the processes and people internally, you get a consistent result.
The property industry in the past has been used to using external people but I intend to be here still for a while. We intend to do the hard yards now to get consistent results in the long term.
We invest in all the people we work with, both inside and out of the business. A happy customer is one who will come back. We have a concierge service for all of our purchasers. We hold their hands through the entire process.
How do you choose the external business partners that you do work with?
First of all I have to meet the people and get comfortable with them. For that, history speaks a lot. I would want to talk to other clients they have, understand what experience they have and make sure they are of the right calibre. To me, company name is irrelevant.
You run other ventures. Tell me about them.
I’m a business person. I’m in the business of setting up businesses, processes and people to make businesses operate. That’s what I do. Property is the same thing.
The Big Pitch is [one current project through Oxygen Ventures that aims] to find the brightest people with the best ideas and then helping them succeed. We are hoping to attract the best of the best with the form of people and ideas and we can help them with funding and services they need.
In the [LK Group of companies] we have legal, financial, call centres, we have a complete incubator service to help [start-up businesses] grow quickly.
The Big Pitch received more than 400 responses. I encourage online retail and technology companies mainly. Those are my areas of expertise. I love businesses that use underutilised resources where we can match supply with demand.
How do you apply technology in your property businesses?
From a technology point of view, for property it’s more about the data and the way we market to customers. [Working with] Qantas is an example of working in a scientific way, analysing what kind of people will be interested in the properties and marketing to them.
Picture courtesy of Vincent Q/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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zfielding-GvX3Uq9KTa

Q&A: Property developer Larry Kestelman on the outlook for the Melbourne property market

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Brad Beer is the managing director of <a href="https://www.bmtqs.com.au/" target="_blank">BMT Tax Depreciation</a>, a quantity surveying company specialising in tax depreciation schedules for investment, commercial and rental properties.
He's also a property investor with a focus on long-term, sustainable strategies. We sat down with Brad to hear about the lessons he's learned over 13 years as an investor. 
The beginning
I bought the first property in 2001. It was an old, very rough, four bedroom house in the Newcastle area, with a big shed out the back, which I still own. Then I went straight into a serious amount of renovation.
I’ve done a number of renovations over the years, and that was the first one. I was up at whatever hour of the night, after work, whenever possible on the weekends. It was pretty ugly to start with.
I did that on the first one, and I did that on the second one. Then I bought some land. At that time in my life I didn’t have much equity. So I bought, I renovated, I revalued. I pulled the equity back out so I could go again.
There was a lot of buying and renovating; manufacturing more equity out of the properties by going, “This is a two bedder but I can do this, this and this to make it a three bedder”.
The fact is I just didn’t have equity at the time; I didn’t have any money. Hindsight is a wonderful eye-opener, and one thing I might have done differently was to use Lenders Mortgage Insurance on my first property instead of saving 20%, allowing me to buy two properties at the same time. It would have been beneficial in this instance as there was a lot of growth in the New South Wales market in those first couple of years, and in hindsight I realised I missed a chunk of it because I was trying to do things the “right way”. But you learn from these things.
On any renovation you budget a certain amount to do works, and even as a quantity surveyor, you live in a dream land.
There have been mistakes along the way, but did I make any major mistakes and completely ruin anything? The answer’s “no”.
Did I find bigger problems than I expected once I pulled the walls off? Yes. You’ve just got to allow for those sorts of things.
There are properties I own now that I wouldn’t have bought if I had my time again. That’s because I know more about investing properties now than I did back then.
I bought land at a time when I shouldn’t have. We had the GFC a couple of years later, around the time that I settled. It wasn’t the right time in my portfolio to buy land, based on the cash flow (or lack thereof) it was going to generate. I was speculating and purchased the property on its growth potential, and I had to settle when the GFC hit, which I was financially able to do at the time, but it did tie up equity in something I shouldn’t have bought.
Fundamentally, a lot of things I believe about investment haven’t changed. I would probably buy a lot of similar properties to what I have bought, even though hindsight can change things considerably, of course.
I don’t have the physical time or the want to go and renovate at the moment, especially not personally. So that changes the cost of things considerably.
My position is more comfortable now from an equity perspective and from an available cash perspective. The fact is, one of the keys to investing in property is learning to manage financing properly and having control of cash. I have control of more cash now through my property investing.
Renovation: A case study
 <img src="/images/2014/06/18/Before%20Reno%208.JPG" alt="">
Brad purchased this Newcastle home for $262,500. 
<img src="/images/2014/06/18/After%20Reno%205.jpg" alt="">
The home is now valued at $460,000.
<ul>
<li>Property in Newcastle area</li>
<li>Purchased in 2006 for $262,500</li>
<li>Two bedrooms</li>
<li>One bathroom</li>
<li>Spent $25,000 on renovations</li>
<li>Bank valuation after renovations $360,000</li>
<li>Rent after renovations $310 per week</li>
<li>Current rent $430 per week</li>
<li>Current valuation $460,000</li>
</ul>
<img src="/images/2014/06/18/Before%20Reno%204.JPG" alt="">
The house's kitchen, before (above) and after (below) renovations.
<img src="/images/2014/06/18/After%20Reno%204.jpg" alt="">
Article continues on next page. Please click below. 
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 I’m not a “put it all on everything” kind of guy.
I haven’t really got any properties in mining towns. There’s a risk associated with that. I have the kind of portfolio where I could take some risk now, but I’ve just been too busy to find one. And I think properties in mining towns should not be an early part of your investing, they should be part of your portfolio when you have the ability to take some risk. They certainly have risk attached, but then they have high returns attached as well.
You need to learn a lot of things about investing in property before you invest in property. You need to learn how to structure your finance in a way which provides flexibility with cash, as well as control of your own journey or property investing “destiny”.
One of my main mistakes was not investing in property earlier, based on my risk profile at the time, due to lack of knowledge.
It’s all about gaining as much knowledge as possible as early as possible, learning how to manage financing, understanding what type of property, based on your risk profile, you should be buying and also what you can reasonably afford. I also did a bit of research into property markets, tax and that sort of thing during my university studies. So I understood that is a part of it too.
I learned by hanging around the property industry, going to property events to talk about depreciation, reading books and actually learning about the fundamentals. I’ve continued to do that over time.
Long-term investment
Unfortunately Australia, like any other country, can sometimes assume a herd mentality – especially with property investment. Buying in areas that have hot growth but which lack fundamental reasons for that growth to continue is not something that you should do. But we do it in Australia.
It’s why we have cycles in property values in this country. I believe in long-term investment – I haven’t sold a thing since starting out.
I want ways to create equity through property, including buying, renovating, getting extra bedrooms out of houses so I can increase rent and valuation, and getting involved in small developments. I’m in a bit of a construction phase through the course of this year. I’ve bought properties where I have the ability to subdivide blocks and build additional houses on those blocks.
I’m not operating as a developer who’s required to develop. I’m operating as an investor, with the ability to develop properties, should I so choose to. That’s taken the risk out of my developments.
If you’re a budding investor, make sure you’re not staking it all on being a property developer. You should have a fall-back position where if you can’t develop right away, you can do X. To develop you need a lot more money and a lot more equity. It’s not as simple as it sounds sometimes. Like a renovation, there are hidden costs.
You’ve always got to compare the development feasibility to the potential sale price of that property at the time you do the development. My fall-back position is always, “Do I like the property as an investment by itself?”
That means I end up doing small developments of course, but that’s okay.
I firmly believe in investing in property now, and in the future. I’m actively keen to continue to do that. A lot of my investments are in New South Wales, however I haven’t spread to wider areas as much as I’d like to.
In the future I will be investing in more property in different states and would like to practice what I preach: not following the herd mentality, buying in areas where I’m not sure whether things will turn around in six months or six years – because I’m here for 10 or 15.
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jrichardson-uRX5hFdKfN

Investor story: Quantity surveyor and tax depreciation specialist Brad Beer

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Real estate runs through Michael Fox’s veins. The 47-year-old Melburnian started his career managing residential properties, working his way into commercial sales before landing the job of looking after the property assets of Toll Holdings. It was at Toll that Fox met his future business partner Paul Little, and the duo developed their first property together in 2009. Their development company Little Projects sold 800 apartments last year and generated approximately $300 million in sales.
My background spans 25 years in the real estate business. I started out in residential property management and went through to residential sales and then commercial sales and leasing.
I worked at some of Melbourne’s largest real estate firms like McGees and Knight Frank, before moving into the corporate real estate world, looking after the real estate needs of large companies like the Smorgon Group. After Smorgon, I went to Toll Holdings where I looked after all the property matters for Toll, which is the largest transport and logistics company in Australia. At the time, my business partner Paul Little was managing director at Toll.
Our company really started by accident. I came across a spot in Richmond that I thought I could do something with and I spoke to Paul about it. So it was a combination of my expertise and his bank account.
The first development was in Stawell Street in Richmond, where we sold 133 apartments off the plan. Our second site was the Bunnings development in Burwood.
From that point, Little Projects really flourished and we bought a number of other sites. At that stage we had another partner who ran the development side of things and we only did one project every few years.
We are now probably Melbourne’s largest property developer and we sold 800 apartments last year. We focus on inner-city development sites in prime locations. We developed 159 apartments on Fitzroy Street in St Kilda, 250 in Bay Street Port Melbourne, and 388 on Toorak Road in South Yarra. We’ve recently finished developing 411 apartments at the old Tip Top Bakery in East Brunswick and started work on 367 apartments at our latest project, Central South Yarra. From there, we’ve sold off a plan 15 months before completion.
The business has gone from doing one project every few years to one of the largest developers in town. We have 1500 units in planning right now.
Little Projects was one of the first property developers to also offer property management to clients and that sort of harks back to my property management days.  
My expertise in the development side of the business comes from my time at Smorgon and Toll, where I managed close to $1 billion of development over the 10 to 13 years I was there. My experience there was quite broad and varied.
We’ve achieved amazing success in the close to four years that I have been doing this full-time. We went from nowhere to being one of the biggest in town. We’re a small team but we really try to offer something different.
Our secret has always been buying in the right place and right location. We focus on developing locations in prime city-fringe locations, close to public transport. That’s the key to the whole thing: fantastic locations with better than average apartments.
Melburnians have learned to embrace apartment living. And they are not just living in smaller spaces, but embracing whole buildings and community living spaces.
We have always used a business plan. We have pretty good discipline in our business, which comes from our public company backgrounds and the rigours around public company life.
I tell people I think I’ve got the best team going around in Melbourne. Little Projects currently employs 25 professionals. The key is that it is not all about me. It’s also about the people we employ. We only employ the best.
Marketing is an absolutely critical part of the business. We’ve worked pretty hard at developing our brand as a quality developer and we completely committed to pushing our name hard. We’re only as good as what we deliver.
Our property management business is an important part of this. We lease apartments before we finish settling and building. None of our apartments go without a tenant for too long. It is all integrated.
Our next project at Lorimer Street in South Wharf will be something Melbourne hasn’t seen before: twin towers with community facilities, including swimming pools. It is loosely based on some developments overseas [but] it will be well and truly above what others have done.
We’re also looking at expanding interstate. We are watching those markets, although we’re cautious about the next steps. You never want to get too far ahead of yourselves.
I think the real estate market is still reasonably strong. In the earlier days, we had good demand from the first home buyer grants, and this was followed by self-managed super funds. At the moment there is a pretty good push from overseas investors in Melbourne.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany.</a>
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