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

Joel Robinson

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

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

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

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

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

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

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

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

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Jo Chivers

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This Sunday we celebrate International Women's Day and the theme this year is MAKE IT HAPPEN.
What a great theme. Yes, us ladies really need to make things happen for ourselves and for our families.
As women today, we are responsible for our own financial freedom but also we are role models to our children, teaching them the concept of being entrepreneurial and to invest early. Unfortunately, this is still not taught in school.
I wish I'd learnt to be an entrepreneur at school and wished I'd started on my property investment journey earlier than I did. I now clearly understand that time in the market is such a valuable thing. Property investing is not a short-term investment, although you can make some relatively quick gains by using development strategies to add value, by holding you avoid the exit costs.  If you hold property for the longer term - 10 years plus, you really see the results.
The start of my investment property journey coincides with the birth of my first son. He's turning 14 this year so it's easy to remember when I started to invest. My then husband and I had purchased the family home a good time before this and reaped the rewards of capital growth that a beach side suburb bought.
But it was my will to MAKE IT HAPPEN that started our investment portfolio. I wanted to plan for the future now we had a child on the way and I didn't want to depend on a pension in retirement like my parents had to.
When I was pregnant and after reading the famous book Rich Dad, Poor Dad by Robert Kyosaki,  I embarked on an intense property investment course because I wanted to become financially and property literate. I wanted to learn as much as I could so that I could make wise investment decisions rather than trust others with our money. I did this on my weekends and at night whilst I worked full time.
Just before my first son was born after much due diligence, I took a risk and purchased an off the plan property. Not long after my son was born, the completed property made me over $150,000 in less than a year and so my property investment journey began on a high note. I went on to buy, hold and add value to five more properties before my son turned five.
Whilst investing and being a mum, I found a way not to return to the gruelling corporate world by establishing my property development project management business; Property Bloom.
In 12 years we've developed exactly 92 properties for our clients.
I have worked hard and MADE IT HAPPEN. By the time my second son arrived seven years ago my business was established and I was doing what I loved.  Working in my own business gave me the flexibility to be with my kids when I needed and wanted to and to attend the school assemblies, special presentations and coach their soccer teams.
For me MAKING IT HAPPEN means that I am in a great place doing what I love for wonderful people that appreciate the guidance we can give through the property development process.  It also means having choices.
One thing that drove me on my journey of MAKING IT HAPPEN and to keep working whilst raising my kids was the thought of taking time off work which would leave me financially dependent on my husband not only during that period but also into my retirement. There would be no contributions made during this time to my superannuation and how could I keep investing in property if I had no income? 
According to The Association of Superannuation Funds of Australia (ASFA):
<ul>
<li>Women retire, on average, with $112,000 in super savings – $92,000 less than men 
</li>
<li>One in three women will retire with no superannuation at all 
</li>
<li>Around 90% of women will retire with inadequate savings to fund a comfortable lifestyle in retirement.</li>
</ul>
What's astonishing is that if we want to retire at the age of 60 and we live about another 30 years which is becoming more feasible each day as the average life expectancy is rapidly rising - right now there is a massive spike in people living to one hundred.   We will actually need in excess of $2 million in our superannuation to support an annual income of $70,000.
We all have a lot of work to do to build up our super but women in particular are on the back foot because of the pay gap and because women tend to be the primary caregivers for their children. We also tend to care for our aged parents which may limit our earning capacity at that time as well.
The gender pay gap is actually decreasing and is lower now than it was in 1985!  According to <a href="https://www.propertyobserver.com.au/https://www.dca.org.au/News/News/IWD-2015---Are-Australia%E2%80%99s-working-women-heading-back-to-the-future-/456" target="_blank">the Diversity Council of Australia's figures</a>, full time adult ordinary time earnings for women were 17.8% less than men in 1985 – now they are 18.8% less than men.
So what can we do?  Start with asking your boss for a raise, whilst that may not get you that two million bucks in super now, it may give you more serviceability to borrow. By leverage our incomes we can buy more property to hold.  Don't forget to look for property that you can add value to by using smart development strategies.
Finally,  we need to stop waiting and MAKE IT HAPPEN now! Let me know if you need a hand.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
</body></html>

jochivers-wq5Bp59R5a

Women, it's up to us to make our financial freedom happen: Jo Chivers

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With all the talk on the impact of the mining slow down, let's not forget the other strong Hunter industries that are quietly achieving and employing the locals: tourism, business conferences and wine production.
Property Bloom has been project managing property developments in the Hunter region for over 14 years now and my research began with a study on the local wine and tourism area and their contribution to the local economy. There's nothing like sipping on a chilled glass of Hunter Valley Semillon whilst studying economics!
As reported by the Hunter Valley Wine and Tourism Association: "The Hunter Valley is the oldest and most iconic wine region in Australia with a heritage of over 180 years. It is the most visited region in NSW after Sydney attracting 2.2 million overnight visitors per annum. The Hunter Valley is one of the key pillars of the NSW visitor economy. The total impact of the local tourism and wine industry is worth $520.6 million, generating over 2800 jobs."
Tourism in the Hunter Valley is benefiting from the massive industry of holding concerts in the vineyards. There's been an impressive array of high-profile performers that have played in the Hunter Valley over the past 10 years: Elton John, Lionel Ritchie, Burt Bacharach, Blondie, Neil Diamond, Crowded House, the Beach Boys, Leonard Cohen, Alicia Keys, Tom Jones and Fleetwood Mac.  If you want a bit of the action get up there to see legendary Swedish pop-rockers ROXETTE on the 28th of February, their special guests include Eurogliders, Dragan and Boom Crash Opera. These bands are straight out of my youth and Joyride was one of my first albums (I'm showing my age)!
When Elton John performed at two shows at the Hope Estate in 2011, it was one of the busiest weekends the region had seen. Thirty-two thousand people attended over the Saturday and Sunday.
A BA Market Surveys report, commissioned by Cessnock City Council and Hunter Valley Wine Country Tourism, showed accommodation over the Elton John weekend was at 99% capacity.
The average daily case sales from cellar doors rose from 41 to 122 across all wineries on that weekend.  The recently signed Chinese-Australian free-trade agreement is likely to boost the Hunter economy and wine exporters will benefit from reduced tariffs.
A separate BA Market Surveys report showed the 2009 Fleetwood Mac concert contributed $13.28 million to the local economy, not including ticket sales. Hope estimates the figure for the 2011 Elton John concerts at around $20 million.
The benefits flow through to other industries as a result of the concerts like the oyster farm in Port Stephens (also part of the Hunter Region) who provided four hundred dozen fresh oysters for picnic baskets. Supermarkets and other retailers in Cessnock see sales boosted by weekenders stocking up on their way to the vineyards.
While concert-goers lead to spikes in cellar door sales and accommodation bookings, so does the strong business tourism and large midweek conference industry. There is also the wedding and in-bound tourism markets that bring a lot of money into the region.
A new $6 million conference and event centre has just opened at the Crown Plaza and General Manager Robert Coates said: “The new Conference and Events Centre will position the Hunter Valley as a leading Australian conference and events destination. Offering guests the latest technology and a light-filled design in a state-of-the-art venue with a combined 2,000 square metres of pre-function, meeting and exhibition space coupled with a unique wine country destination. We have already received large scale group bookings for 2015 resulting in 20 percent growth in business events and many in the pipeline for 2016 – it looks set to be a very busy year for us.”
All these tourists need good roads to drive on and so the New South Wales government has just announced $16.7 million in 'Resources for Regions' funding to upgrade roads in the Hunter's wine country region.
The project, to upgrade Hermitage and Broke Roads, will see more than 12 kilometres of roadway rebuilt, improvements at intersections, new tourist signage and lighting.
The money will also fund construction of a new on-road cycleway connecting the Hunter Expressway and New England Highway with Broke Road.  Infrastructure upgrades such as road works brings contractors to town and they need to rent properties.  We've noticed an increase in demand for our granny flats and villas as single contractors (usually men) want small, low maintenance properties to rent. We have just completed a duplex which was leased immediately to tenants working in the tourism industry.
Understanding the current and future industries in the locations you choose to invest in property is very important.  Finding locations with industries that not only endure but recreate themselves is like finding gold.  The property market’s long-term performance is very closely tied to industry and employment opportunities and the more diverse the local economy the better.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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There's a lot more to the Hunter Valley's economy than mining: Jo Chivers

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When running your feasibility on a development project, it's important to make sure all costs are covered off.  There are set up costs, design costs, planning costs, construction costs, selling or leasing costs and of course, the dreaded holding costs.
You must calculate holding costs correctly. I've spoken to many novice property developers about their holding cost calculations. The most common mistake is to simply calculate the interest cost over the total cost of the project for the total time a project will take. 
This results in a gross over calculation of interest costs. In addition, they then don't take into consideration the tax benefits on the interest payments.
Admittedly, It's not an easy calculation because of the various timeframes and draw downs applicable over the life of the project. So I thought I'd put a case study together to demonstrate the holding costs on a dual occupancy project.
I was discussing this with my friend Shukri Barbara, who is a property tax specialist accountant at the aptly named <a href="https://www.propertytaxspecialists.com.au/" target="_blank">Property Tax Specialists</a>.
I asked Shukri if he would help me with a case study showing what the holding costs and the tax advantages on a typical dual occupancy project would be.
"The basic rule is that when an expense is incurred in earning income, it will be allowed as a deduction as long it is not capital in nature or private." Shukri said.
With this clarified, I gave him the details and assumptions for the case study. It is based on a dual occupancy development.
A property investor is buying as an 'individual' (i.e. not in a trust or company structure). The investor's taxable income is $95,000 per annum and she has purchased land that will be developed and once completed, be income producing.
Exchange on land took place on the 1st February 2015 using $5,000 deposit.
Settlement on the land occurs 1 May 2015.
The development will be completed 1 of December 2015 when tenants will move in.
Interest rate is 4.5%, and we assume the project will be 100% financed.
The land cost is $265,000 and stamp duty is $7,765 but after a NSW government grant it is reduced by $5,000 and is $2,765. Legal fees are $1,800.
The builder's contract is $460,000 and includes all costs relating to design, planning, subdivision and construction. 
The draw downs occur as follows:
<ul>
<li>1 April 2015 -  $5,000 deposit paid</li>
<li>1 Aug 2015 - slab down</li>
<li>15 Aug 2015 - Frames and trusses completed</li>
<li>15 Sept 2015 - Brickwork completed</li>
<li>1 Nov 2015 - Interior linings completed</li>
<li>1 Dec 2015 - Completion</li>
</ul>
Below is the builder's drawdown schedule:
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="272">
DESCRIPTION
</td>
<td valign="top" width="134">
PERCENTAGE
</td>
</tr>
<tr>
<td valign="top" width="272">
Deposit paid after concept plans agreed on
</td>
<td valign="top" width="134">
$5,000
</td>
</tr>
<tr>
<td valign="top" width="272">
Installation of concrete slab (less deposit paid)
</td>
<td valign="top" width="134">
20%
</td>
</tr>
<tr>
<td valign="top" width="272">
Erection of Timber Frame and Trusses
</td>
<td valign="top" width="134">
20%
</td>
</tr>
<tr>
<td valign="top" width="272">
Brickwork, Windows and Roof Coverings to Main Section
</td>
<td valign="top" width="134">
25%
</td>
</tr>
<tr>
<td valign="top" width="272">
Interior Linings and Mouldings
</td>
<td valign="top" width="134">
25%
</td>
</tr>
<tr>
<td valign="top" width="272">
Completion
</td>
<td valign="top" width="134">
10%
</td>
</tr>
</tbody></table>
I asked Shukri what the tax benefits on the interest holding costs may be.
He explained "Interest expenses incurred while constructing properties which will produce rental income will be allowed as a tax deduction in the year it is incurred.
In the case study provided, even though the construction won't be completed until the following tax year, the interest incurred in financing the land and any progress payment will be deductible. Also deductible will be any council and water rates.
Using the case study details, we have calculated the
<ul>
<li>Amount of interest which can be deducted and </li>
<li>Tax savings which can be obtained at the end of 2015 – assisting with cash flows.</li>
</ul>
So what were the results? 
Deductible interest expense for 2015 financial year is estimated at $2,015 with tax benefit of $786.
For the 2016 financial year, the deductible interest amount is estimated at $28,197 with tax savings estimated at $10,997
The total interest holding costs for the project is $18,429 for the eleven month period that the project will take to complete. 
This particular dual occupancy project was projected to create approximately $153,000 in equity. Even after the holding costs are deducted it's not a bad return for just under a year's work. What do you think?  
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Holding cost calculations and considerations: Jo Chivers

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Creating a system can be quite simple and helps you achieve more in less time.
Not too long ago I met with one of my builders.  The builder and I started working together when I introduced a particular type of development and in a short period of time we’d already completed five projects together. But I knew we could still fine tune our process.  He’d had some recent staff changes, so it was the perfect time to gently tell him exactly how I wanted my developments to run. 
Before the meeting I prepared a draft procedures document which was based on the way we had been doing things up until then.
But it wasn’t until I started documenting pretty much everything we did that I realised how much was involved in this somewhat basic development strategy.  What started in my mind as a one pager has turned into four. It’s funny how we simplify in our minds a process because we’ve done it time and time again.  But when you really break it down in writing, you can see all the fine details.
Using a system or procedure keeps me on track with our projects .I now literally have a written system for everything I do.  It gives me something tangible to show to my clients and helps explain exactly what I really do when managing their development.   It’s also an important tool to use when training new staff as they have a documented procedure to follow.  
By the end of the meeting with my builder, we had agreed on a three very important changes that impact the bottom line of all my developments:
<ol>
<li>We changed our standard floor plan slightly to make it more cost effective to build, without reducing the size. Now I could offer my clients a cheaper build price that will not impact on the end value or rental return.</li>
<li>We changed the payment schedule so my clients would pay less in the first half of the build phase, saving them valuable holding costs.</li>
<li>We minimised choice to save time. By setting up standard inclusions plus a list of ‘optional extras’ it meant that clients would not feel overwhelmed by choice on fittings, fixtures and colour selections and we could manage this process faster moving to the next step and saving time.</li>
</ol>
I put the new system into action immediately and we started getting more done, in less time.  As they say, time is money.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
This article previously appeared on Property Observer in June, 2014.
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Creating a system for your development process will save time and money: Jo Chivers

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There is always something to learn when it comes to property development and this week was no exception. 
My new lesson was to do with drainage and subdivision. We'd designed what I thought was a fabulous looking duplex (two attached dwellings).
My brief to our draftsperson was to make the duplex look exciting and interesting from the street, making sure each villa/unit whilst attached, has a different front façade.
This duplex was to be built in a premium estate and I really wanted to create the look that each villa was unique even though they will be attached. 
We came up with a great look using various gables to break up the roof line. This offered an interesting contrast to the usual large hip style roof commonly used on duplexes. Generally speaking, the more detail in the roof design, the more interesting but also the more expensive.
With our development application (DA) we were also applying for a two lot Torrens title subdivision.
We lodged out DA and it wasn't long before council came back with what we thought at first, to be a weird request.  Included with our DA a detailed stormwater design had been lodged showing a stormwater  drainage easement system to drain water from the roof.  
Here's what council said...
"The Development Control Plan (DCP) requires roof and gutter systems to be graded as such that each lot drains independently of each other. The current roof form does not meet this requirement. I note that the subdivision plan includes a Proposed Easement to drain roof water over whole of lot. The easement to burden the whole lot for roof and gutter drainage is not considered appropriate and each roof is to drain independently of the other lot. Council will require an amended roof design to this arrangement. A simpler Hip roof design should be considered."
Our surveyor responded by arguing that it should not matter given the appropriate easements were in place to drain the roof water adequately and that there have been recent presidents set where this has been approved by council.  
Council’s response was that it is still an issue and any previous approvals were in error.  We found this interesting as we'd just received a DA consent on a duplex with a similar, multi gabled roof design. When you consider that there is possibly a number of factors that determine where the water on any roof, even a simple hip roof, drains to wind factors being one.
My question was: In a case like this, shouldn't council weigh up the benefits of a better design and street appeal over pedanticism around water drainage?  Remember, our engineer's drainage plan met all requirements regarding water volume flow rates to the street.
So what were our options?  We could argue our point and draw out the planning process and perhaps even end up in the Land Environment Court.  This would add to holding costs not to mention court costs and added risk to the project. 
Or, we could design a simpler roof, resubmit plans to council the next day and have our DA approved quickly. The later would bring cost benefits to the project in time and in roof costs.
As project managers, we need to quickly assess what the best outcome may be for our clients, present it to them and keep the project moving forward. At the end of the day, the roof redesign was not a deal breaker and may not even add actual value in itself to the project. The savings we will make on a simpler roof design was more appealing to our clients.
<a href="https://www.properetybloom.com.au" target="_blank">www.properetybloom.com.au</a>
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Is a hip roof as groovy as it may seem?   

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Property developing can throw many different challenges at you and one thing I have learnt in this industry is there is always a solution to a problem.
The trick is to understand what possible problems may arise and preparing yourself for them. Unfortunately things don’t always go to plan and as a project manager it is up to us to make sure the development gets through as efficiently as possible.
One of the biggest areas for problems is not allowing enough for building works. 
When pricing a development and running feasibilities, it is important to understand that your building estimate is an organic creature. By this I mean the building estimate you start with will nearly always be different to the one you end with.  It will evolve throughout the process as you obtain more and more details.  Once you have all the fine details, the building estimate can be finalised to the fixed price builder’s tender. 
If architecturally designing our villas, we generally follow this process:
<ol>
<li>Concept plan – this will show the number and size of villas on the land, but not much detail. 
</li>
<li>Development application (DA) plans – enough information is included on the plans to satisfy council. 
</li>
<li>Construction certificate (CC) plans –more detail, including engineer drainage and slab design.</li>
</ol>
The starting point for our build estimate will be based on similar projects that we have recently completed and an allowance for the different site.
This progresses to an estimate based on the Concept Plan.  Still a very ‘loose’ estimate as there is usually not enough detail on the concept plan for the builder to have all information he needs.  The build estimate we have at this stage will tell us whether we are tracking within budget.  If not, we can make the necessary changes required, perhaps reducing the size of the villas working with both our builder and architect to design the right dwellings for our project to be successful.
Once the Concept Plan is approved, the architect will proceed to full DA plans.  It is here that much more detail is added and we will have our builder price the DA plans.  Again, this does not give us a final build cost but we will be getting closer to the expected outcome.  Once approved by our client, the DA plans are finalised and the DA is prepared.
During the DA process, council may request some changes to the plans, so it is important to understand we are still ‘evolving’ at this stage. We also need to review the Conditions of the DA Consent before we have more detail to finalise the build costs.
Once council have approved the DA, we will start to prepare the CC plans.  Engineers will be briefed and a drainage and engineered slab design or footings for the foundations will be produced. More detail is added to the CC plans, finalising levels and double checking schedules. 
Before we lodge the CC plans with our private certifier we will have our builder issue a third costing. It is this costing that will give us the final build costs...well almost.  We still need to have the CC approved and ensure there are no further revisions to the plans required.  
After we have the CC stamped plans, our builder will issue their final tender and building contract. This will be a fixed price contract; however, there may still be a few items that will be ‘provisional’. They are usually some site works, removal of fill and retaining walls.  The builder may mark these items as provisional as they won’t know until works proceed exactly what the cost is. For instance, if rock is hit during the site cut, this will increase the site costs. If the site cut differs slightly to the plans, this may impact on the height of retaining walls.  So these ‘provisional’ items will be charged at actual cost whether it is lower or higher.
So you can see how the build estimate must evolve through the development process and until your development is completed, you really won’t know the exact cost.  It’s important you allow a contingency amount for any variations that may crop up along the way. 
As a developer, you will embark on a challenging journey from start to finish and the path you choose can be simplified with the help of a project manager to guide you along the way.  Always take the time to have full builder’s estimates done at each stage to avoid any nasty surprises. 
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Making sure building costs don't push your property development over budget: Jo Chivers

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Hi Jo,

I am considering converting an existing block to dual occupancy.

I own the block (and house on it) outright. The block is 1,100 square meters in area.

The existing house is at one end of the block and dividing the block in half would still leave a meter between the existing house and a dividing fence.

The block is a corner block and there is provision for a second driveway in the other street.

The zoning in ACT almost precludes subdivision from most blocks. On the ACT Land map it actually has an address for both halves of the block, so my guess is that it was originally proposed and two blocks.

I have verbal approval to commence “the journey” from the ACT authorities.

But I have a question: Where to from here?

Regards,

Jeff

Australian Capital Territory

Hi Jeff,

It is interesting that there are already two driveways and street addresses, you may find there was a DA approved to subdivide at one stage, was not registered and may have lapsed. If so, then there may also be service connections.  It is worth making enquiries with council on this as it will save you money if some of the works have already been completed. 

If you were allowed to complete the subdivision of the land, including having it registered, this may save you paying a Section 94 Contribution that may be payable on a dual occupancy project. You can then build a new dwelling on the newly created lot without it impacting on the original house lot.

The best way forward for you is to use a local surveyor to manage the subdivision of your land. They will understand your local council's requirements.

You will need to allow for adequate private outdoor living space for the existing house and the surveyor can advise you on this and potential setbacks.

[smartcode_project:default project_id=5873]

The surveyor will be able to quote to manage the entire process, including getting quotes to extend the sewer and other service connections (if they are not already in place). It's important you understand the costs of subdividing.

To give you an idea, Property Bloom usually allows around $30,000 for a Torrens title subdivision of a large corner lot like you have described.  The cost will of course vary based on service connection works required, how far the sewer needs to extended and any upgrades to services that may be needed (if it is in a really old suburb).

Is the land kerbed and guttered on both sides?  If not, then one thing to look out for having council request you do these works. It's something you can check with the council town planner.  You will also need to provide drainage for the newly created lot, so the slope of your block is important. The surveyor will advise you on this.

[smartcode_project:default project_id=24767]

If you are going to lodge a DA for a dual occupancy and subdivision then a good builder may include the subdivision as part of their works and contract. This will mean you can finance works by way of a construction loan.  This is also a faster process than subdividing up front (which you cannot do anyway based on zoning) and you can lodge one DA for the building and the subdivision works. Again, check this with your local council as they all have different requirements.

I would also look at building a duplex (two attached dwellings) on the new lot rather than a single house as this will add more value and should create some good equity.

Good luck, I hope all goes well,

Jo

<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Reader question: I want to subdivide my block of land, but where do I go from here?

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I thought as my final story before we close for the year and take a little break, I'd share with you a case study on one of our best property development results for 2014.
The development strategy: House renovation, Torrens title subdivision, three bedroom, two bathroom duplex construction, strata subdivision.
What an adventure this development was. We started our journey after locating a fabulous three bedroom house on large block of land for our lovely clients Lean and Alex, a very hard working couple and savvy property investors wanting to boost their portfolio.
On the land there was room to build a three bedroom, two bathroom duplex facing a secondary street. 
<img src="/images/2014/12/19/IMG_9546.jpg" alt="">
Property Bloom negotiated a nice discount off the purchase price and terms including a low deposit and extended settlement with access to start our renovations.
Our main concern was drainage and vehicle access to the secondary street as it was not a certainty that council would approve our orientation of the duplex because there was a small section that could be classified as a laneway that led to the secondary street.  However, there was some existing guttering that had been completed by a developer a few blocks up and a stormwater drain within a few meters to direct our run off to.  
To add to the complication, a new local environmental plan (LEP) and development control plan (DCP) came into effect during our settlement period. We had to ensure our plans would meet all the new requirements.
It was decided that we would lodge a development application (DA) with two stages; firstly a two lot Torrens title subdivision and the second stage to construct the duplex. If we lodged a DA for a three unit development (including the existing house) we'd need to provide space for visitor parking and complete certain upgrades to the house that would not necessarily increase its value but would be costly. By subdividing first we could maximise the area for the duplex and make it more spacious. It was a more lengthy and complicated process, but gave a far better design result.
We used the settlement period to complete the house renovations and work on the concept plan for the duplex. The house was leased at a strong rent which offset holding costs whilst we worked on the duplex design, planning and construction phases.
After much research and several meetings with council we lodged our DA.
The DA process was frustratingly long which we put down to the planners also getting their heads around the new LEP and DCP requirements. Finally we received the consent but then found conditions around the timing of when the subdivision should be registered that we wanted amended. We wanted to start construction before the subdivision was registered which would be a much quicker process. So we lodged a Section 96 application and were granted permission for the subdivision to be registered before the release of the occupation certificates, so after constructing was completed, this saved valuable time.
The actual construction went very smoothly thanks to our wonderful builder and our clients even received some credits for provisional sums that were not needed.
Property Bloom set up a relationship with a national housing group that required new properties to lease to their government tenants, so our client received rent from the date of handover and are on a long term lease with this agency. 
<img src="/images/2014/12/19/IMG_9536.jpg" alt="">
Here's the actual financial results of this project:
<ul>
<li>Total cost including house purchase, stamp duty, legal, renovations, design and planning process, subdivision and turnkey construction: $693,574</li>
<li>Total valuations on completion, including house and two three bedroom villas: $840,000</li>
<li>Equity created: $146,426</li>
<li>Gross yield: 8% </li>
</ul>
Our client's portfolio was boosted by three properties created from one.
I hope you've enjoyed our stories this year.  I wish all our readers and the wonderful people at Property Observer a safe, relaxing and happy Christmas. 
May 2015 bring you much joy and happiness, and a maybe a shiny new property development.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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One of our best 2014 property development results

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I'd like to think that a couple of weeks before Christmas that I'd be winding down.
Taking stock of the amazing amount of development projects that Property Bloom has completed in 2014 (no wonder I'm tired) and finalising the projects currently under management ready for the Christmas break.  
But no.  I've just heard about a new land release that I'm extremely excited about due to its prime location and will be busy securing duplex sites right up until Christmas.
This crazy time of year made me think about work capacity and how deadlines help us.  It's interesting to see just how much work you can get done when you have a deadline to meet. Most of us use Christmas for a deadline.  I've spoken to lots of investors recently who say, "I'll look at it after Christmas". 
To me, winding down is lost time - you can really take advantage if you remain productive in the lead up to Christmas.  Whilst others are thinking about their Christmas shopping, you could be assessing property deals and making offers.
When we’re working against a deadline, we know that we don’t have time to spare; if something is due then we simply can’t afford to waste time. The result is that we’re a lot more diligent about ignoring the little time-wasters that would usually derail us like those crazy animated Christmas emails.
Remember Newton's first law of motion - sometimes referred to as the law of inertia? An object at rest stays at rest and an object in motion stays in motion with the same speed and in the same direction unless acted upon by an unbalanced force.
Perhaps our 'unbalanced force' is Christmas right now.  I'm planning to 'stay in motion' right up until Christmas Eve (and probably beyond) for two reasons; one I don't want to miss a property development opportunity and two I have not done any Christmas shopping yet!
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Winding down is lost time: Using the Christmas deadline to your advantage

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I'm going to have to admit something that is a bit embarrassing. I've been feeling quite guilty about it so I'm going to confess.
I bought an apartment about 15 years ago (before I started Property Bloom and discovered the Hunter Region).  It's been a great investment and has hardly ever been vacant.
It's located in Chippendale, an inner city suburb of Sydney. The balcony off the living area looks into a peaceful, leafy street and you wouldn't know it's only moments from the CBD and two universities. In fact, it's pretty much been rented consecutively to uni students. As one student would complete their course, they'd introduce the unit to a friend and we'd have a new tenant ready to move in.  
After much number crunching and portfolio gazing, it was time to sell it and as Sydney is experiencing nothing short of a boom right now, I took the lazy way out.
Here's my confession....
I tried to sell a property when it presented in its absolute worst state.  I thought a strong market would mean less focus was needed.
By worst state I mean the student tenants had stuff everywhere. The lounge room consisted of two desks and the rest was covered in what looked to be their entire life's possessions. It was more like a storage shed than a lounge room.  Whilst they were looking after it, there was just too much clutter.
Now, I'm used to walking into a property and seeing the true value through clutter. Believe me, I've seen some horrifying things in properties but I can visualise them cleaned up and our clients have benefited from this. 
Point 1:  Not everyone can visualise.
It's estimated that only 10% of home buyers can visualize the potential of a property. That means 90% are not going to be able to look past dirt, clutter, and imperfections.
Regardless of this, I said to the agent 'let's just whack it on the market and see what happens'. Whack it we did...and guess what, nothing happened! 
There was a lot of interest due to the fabulous location but not one decent offer was made.  Every penny pinching investor was out to make a quick buck and I don't blame them.
Point 2:  You attract low ball offers on poorly presented properties
So we pulled it off the market and waited for the lease to lapse.  Then we had an empty shell of an apartment.  Remembering that not everyone can visualise, I was certainly not tempted to try and sell it empty. We needed to show buyers how good it could look. That's when I called my friend Kylie, she'd started a staging and styling business called <a href="https://propertyrevamped.com.au/%20" target="_blank">Property Revamped</a>. 
In she came and within days of the tenant moving out, we have an entirely different property.
Point 3:  A total transformation can take place quickly
<img src="/images/2014/12/05/lounge%20room%20before.jpg" alt="">
lounge room before and after
<img src="/images/2014/12/05/lounge%20room%20after%20styling.jpg" alt="">
 and
<img src="/images/2014/12/05/bedroom%20before.jpg" alt="">
Master bedroom before and after
<img src="/images/2014/12/05/bedroom%20after.jpg" alt="">
Kylie explained that "Property styling can evoke a lifestyle, seducing prospective buyer into an environment where they envisage themselves spending time with family and friends".
Our agent Felice Cotroneo of Inner City is now the happiest man on Earth. He'd recently sold two properties that had been staged. Both had sold within weeks of being listed.
"We estimate that the staged properties sell 80% faster than non-staged or empty properties." said Felice.
"Styling helps buyers to see that certain furniture works in a particular room. Styling maximises the sale potential and your return on investment is substantial" he said.
Point 4: Look at the return on investment to see if it's the right tactic for you
I will be waiting to calculate the exact return on investment. The staging cost less than $2,000 and we have furniture for eight weeks. I think that's a pretty good investment. Stay tuned and I'll let you know how quickly it sells.
If you are interested in a good inner city investment, <a href="https://www.propertyobserver.com.au/https://www.innercity.com.au/12113913" target="_blank">take a look</a>.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Jo Chivers

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