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

Joel Robinson

NAB funds $1 billion Surfers Paradise apartment development, Palmera

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

First look: Aqualand joins St Leonards apartment party

<section data-scroll-anchor="false" data-testid="conversation-turn-5" data-turn="user" data-turn-id="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" data-turn-id-container="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" dir="auto">Time &amp; Place’s plans to transform the former David Jones factory building in Surry Hills into a mixed-use residential precinct have gone on exhibition through the NSW Government’s In-fill Affordable Housing pathway.</section>

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" data-turn-id-container="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" dir="auto">
The Marlborough House proposal, lodged for the <a href="https://www.apartments.com.au/new-apartments/marlborough-house-47-97-marlborough-street-surry-hills-nsw-2010">47-97 Marlborough Street</a> site, would see the adaptive reuse of the heritage-listed warehouse building alongside the construction of new residential additions and a separate apartment building on the northern portion of the site.

The proposal seeks approval for 172 apartments across three buildings, including 15 per cent affordable housing managed by a community housing provider for at least 15 years from occupation.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="5d1d3c2a-bf13-47d6-a335-7c01102cdee1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.36%E2%80%AFAM.png?VersionId=cjMYrbR.BLUlWH4dar0RVDDo0bG.u2YT" />

Interior view from the Northern Building Penthouse overlooking the park

&nbsp;

The redevelopment is planned for the prominent 3,413 sqm site bounded by Marlborough Street, Goodlet Street and Lansdowne Street, directly opposite Eddie Ward Park and around 200 metres from the Surry Hills light rail stop.

Time &amp; Place acquired the former David Jones building in 2024, marking the first time the property had changed hands in around 50 years.

Designed by Wardle, the proposal centres around the adaptive reuse of the former David Jones factory, originally constructed between 1913 and 1935 in the Inter-War Chicagoesque architectural style.

Wardle noted in its Architectural Design Report that the building “occupies a significant place in the industrial and cultural history of Surry Hills” and at its peak was “the largest department store manufacturing facility in Australia, employing over 800 people and fuelling the growth of Sydney’s fashion and retail industries.”

The practice said the project positions itself “not as an isolated intervention, but as a contributor to the civic, social, and architectural grain of the precinct.”

The proposal would deliver 75 apartments within the retained southern heritage building, 59 apartments within the central addition, and a further 38 apartments within the new northern building fronting Lansdowne Street.

Planning documents show the scheme would comprise a mix of heritage apartments, new-build apartments, townhouses and penthouses.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="57758518-40a3-4b83-958c-d06e96a2cffa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.42%E2%80%AFAM.png?VersionId=VerlX9ST5xgBi8.1_YRsqdWTJeT6ygjs" />Interior View of the Heritage Building Apartment

The development would also include a ground-floor retail tenancy on the corner of Marlborough and Lansdowne streets, rooftop communal open space, a landscaped pedestrian link along the western edge of the site, and basement parking accessed from Lansdowne Street via a car stacker system.

&nbsp;

The scheme emerged from a competitive design process run by Urbis, with Wardle ultimately selected as the winning architect ahead of FJC Studio, TZG, Architectus and Wilkinson Eyre.

The Design Integrity Panel later described several aspects of the Wardle scheme as fundamental to the project, including “the stepped character of the new addition to the north of the site”, the landscaped western pedestrian link, and the “garden arrival” experience separating the original Marlborough House from the heritage addition.

Wardle’s design heavily references the site’s industrial and heritage history, while also responding to the surrounding Surry Hills streetscape.

The Architectural Design Report describes Surry Hills as “a finely grained neighbourhood with beautiful and expressive brickworks throughout the suburb,” with the proposal introducing a material palette intended to sit comfortably alongside the existing warehouse fabric and neighbouring terraces.

The report also outlines the project’s relationship with Eddie Ward Park and the broader landscape context of the area.

“Marlborough House occupies a site of deep cultural memory and the neighbouring Eddie Ward Park is of local ecological significance, where natural systems, topography, and stories have long shaped human experience,” Wardle noted in the report.

The architects said the proposal sought to “rebind built form to Country” through landscape, materiality and the adaptive reuse of the heritage structure.

<img alt="Marlborough House" data-entity-type="file" data-entity-uuid="9ae3f2f9-c85f-477a-a6f8-b43f6cb97c41" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.53%E2%80%AFAM.png?VersionId=B.qUCLqRvJOR.n9CvYcTpaknIX9LuqKZ" />

The project is also being progressed under the NSW Government’s in-fill affordable housing provisions, allowing developments that include affordable housing to access additional height and floor space incentives.

Under the plans, 2,593 sqm of the project’s floor space would be dedicated to affordable housing, slightly exceeding the required 15 per cent threshold.

In its Design Excellence Strategy, Urbis said the project aimed to “sensitively adapt and enhance the heritage-listed building on site through alterations and additions that preserve its historical significance” while delivering “high-quality market and infill affordable housing development in Surry Hills.”

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in&nbsp;<a href="https://www.apartments.com.au/developments/south-melbourne-vic-3205">South Melbourne</a>, and have future projects, <a href="https://www.apartments.com.au/new-apartments/the-wilmot-173-burke-road-28-hope-street-glen-iris-vic-3146">The Wilmot</a>&nbsp;in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>, the redevelopment of the Northcote Plaza, and another tower in South Melbourne.

The developer broke into Sydney just a few years ago with Two Tides in Manly. They have another project nearby, which is at the ultra-luxury end of the market on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach.

It is also continuing to work through the <a href="https://www.apartments.com.au/news/nsw/first-look-time-place-settles-on-design-for-the-chimes-potts-point-redevelopment">redevelopment of The Chimes building</a> on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as a project on <a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Mosman's Redan Street</a>.
</section>

First look: Time & Place unveils Marlborough House redevelopment designs for former David Jones warehouse in Surry Hills

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

Jo Chivers

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Today I drove around a new land estate in the Hunter Region of NSW where we now have a couple of dual occupancy projects planned.
It was early morning - I'd left Sydney by 6am to get an early start on my day. As I pulled up to the site we are looking to secure for a client - it had just turned 8am, my eye was caught by a ruckus across the road.
It was still a paddock as this estate was expanding and not yet complete. There a horse seemed to be rounding up the six or seven calves he shared the paddock with. My love of horses and animals lured me over and I caught a quick pat before the horse turned on his hind quarters and I snapped a quick photo of their frolics.
It reminded me that this estate, whilst carefully planned for by NSW Planning as an integral land release area due to the proximity to major economic hubs, transport and infrastructure, used to be pastoral land. So living here gives you a sense of country life but within 20 minutes you can be in the CBD of the sixth largest city of Australia - Newcastle.
In this masterplanned estate, there is a very good co-educational day school for students from preschool to Year 12. Kids can easily and safely walk to and from school. There is a fabulous state of the art sporting ground which includes two professional football fields, a cricket pitch, tennis courts and netball courts.  There is also a new community centre. There's a great kids play park with a massive climbing structure and wonderful bike and walking paths that take you around the estate, with areas to sit and ponder whilst looking out to natural wet lands or bushland.
One of the spaces I love it the Aboriginal heritage conservation area where you can learn and connect to the original lands owners. This area has a lovely peaceful feel and includes 'footprints' in the concrete that are reminders of the 'ghosts' of the original people. There's a sitting area and recycled water runs across a large sandstone flat rock with grooves typical of areas where once Aboriginal tools were worked. 
Just up the road, within 1 kilometre is an Aldi store under construction and within the same area in the opposite direction in a new village shopping centre including a Coles supermarket, lovely cafe and other essentials shops such as a hair salon, bottle shop and community bank.
Most importantly for investors, there was good sales references, the median price is well above neighbouring suburbs and a strong rental demand. With a high percentage of owner occupiers within this estate tenants would want a piece of the action. People loved living here for all the benefits the estate offered but also because of the quick drive time into the CBC of Newcastle.
To top it off, this area has the largest and fastest population growth within the north and south of Greater Sydney, up 3,000 people or 35%, according to the ABS NSW Regional Population Growth 2011.
I needed to report back to our client so he could move forward in securing the land. As I stood on our dual occupancy site, taking photos of the surrounding homes that were very nicely presented and looked after, I thought, 'hey I would really like to live here myself'.  Now that could be a very good indication.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

Finding a great location to invest in the future

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

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Each week I receive phone calls from people who have started a property development and then fallen into trouble.  
I can't help taking these SOS calls from fellow developers but I've noticed a pattern...there seems to be three different areas in which the issues fall:
<ul>
<li><a href="/expert-insights/the-three-most-common-first-time-property-developer-mistakes-site-selection">Site selection</a></li>
<li><a href="/expert-insights/the-most-common-first-time-property-developer-mistakes-team-selection">Team selection</a></li>
<li>Not understanding the development process</li>
</ul>
The development process is complex - there is no two ways about it. Even what may seem the most simplest development can turn into a very time consuming project.  Although Property Bloom has completed over 80 developments, all of which I have personally overseen, I still find tiny nuances that make each development unique and challenging. 
However, if you have some understanding of the steps needed to be taken on your property development journey, then the development process can be simplified.
The development process can be broken down into a number of steps:
 
<ul>
<li>
Research or due diligence  Most of your research should have been done by now because choosing  the right location for your development cannot be underestimated. Once you've narrowed down the area you're going to work in, you need to research the needs of your target market.  Your target market is either the people you'll be renting to if you hold onto the dwellings you build or the people you'll be selling to. What do they want in a property? You need to balance this with what you can afford to build, always be careful not to overcapitalise by assuming you have to give everything. 
</li>
<li>
Designing your project is the next step in the process. Use either a builder's design and make some minor changes to suit your needs or use an architect or drafting service to design exactly what you want. In more upmarket areas, you may want to deliver something more unique so spending time and money on coming up with the right design is important. 
</li>
<li>
The planning process is another very important processes. Ensure you are meeting the requirements of the local council's Development Control Plan and Local Environmental Plan. This is complex and unless you want to spend days studying these enormous documents, engage a planning consultant or architect that understand these local requirements. This should save time so when you lodge your DA there should be little hold up in having to make changes to your plans. 
</li>
<li>
Engineering for storm water management, driveways and slab design is required to obtain the final approval of your Construction Certificate. Again, engage a good engineer but make sure you have a basic understanding of what they are designing.  Don't be afraid to ask questions. I was able to reduce some costs on a three villa project by questioning the number of storm water detention tanks required under the driveway. I knew each tank meant more costs so just by asking the engineer to check the water volume calculations meant  if we could cut two of the eight tanks required in that project. 
</li>
<li>
Once you have all your Planning Consents, then it's important to have a good understanding of the building process which will help you as you review your builder's contract. You need to understand terms such as 'Provisional Items' and 'Excluded items' as if one of these blows out, so can your development profit.  Check the contract and discuss with the builder so that they can explain clauses to you. You can also have your solicitor look over the contract. Many builders will use a standard Housing Industry Association contract. Check the drawdown schedule as this will impact on your holding costs. 
</li>
<li>
Maximising your finance and getting the best deal is an important step in the process.  Your bank will need a number of documents such as the consents and builder's contract before they can give you unconditional finance approval. Make sure you allocate four to eight weeks in your schedule to get your finance in place. This often draws out depending on how slow your bank is. The longer they take, the more holding costs you are paying waiting for finance. Your builder cannot start construction without a Letter to Commence from your bank. 
</li>
<li>
Once the builder has this permission to commence work, you move into an exciting but still risky part of the development - the build phase. The main area for cost variation can be in the site preparations and slab work. Until your site is cut, retained and slabs are piered and then laid you will not really know the true costs of your building works as most Provisional items are loaded into this early stage of building works. 
</li>
<li>
It's exciting to see your project come out of the ground and as the building works draw to a close, the process then moves into the completion stage. Now you need to maximize your rental and depreciation benefits or sale return. You will need to choose your management or sales agent carefully. Brief your quantity surveyor at this point to start work on your depreciation schedules and make sure you include all consultant fees, including project management if you have used a professional project manager.   
</li>
<li>
You cannot relax just yet. You need to, attend the practical completion and handover inspections with your builder and have a good understanding of their warranty periods. You need to obtain Occupation Certificates which will not be issued unless everything is complete.
</li>
</ul>
 
As project managers, our job is to manage all the fine details of the development process. There are many areas that need your undivided attention at the time. 
As part of our project management process, we prepare a detailed weekly report for clients including milestones met that week, goals for the following week to achieve and photos showing the progress. Also included is news reports in the local area that may impact on the end result. Our job is to focus entirely on the process so that our clients don't have to. It can be beneficial for inexperienced developers to use a project manager to minimise and help them through the challenges a property development can bring.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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The most common first time property developer mistakes: Not understanding the development process

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Carrying on from our last column, this week we'll look at what can be an area of contention for a property developer - team Selection.
Each week I receive phone calls from people who have started a property development and then fallen into trouble.  I can't help taking these SOS calls from fellow developers but I've noticed a pattern... there seems to be three different areas in which the issues fall:
<ol>
<li><a href="/expert-insights/the-three-most-common-first-time-property-developer-mistakes-site-selection">Site selection</a> </li>
<li>Team selection</li>
<li><a href="/expert-insights/the-most-common-first-time-property-developer-mistakes-not-understanding-the-development-process">Not understanding the development process</a> </li>
</ol>
Not selecting the right development team is the next most common cause of grief to developers.
Who do I need on my Development Team? 
<ul>
<li>Property specialist accountant and solicitor - don't scrimp on important advice.</li>
<li>Finance broker or personal banker - to get the best finance deal possible.</li>
<li>Surveyor - for your identification and contour surveys and to manage subdivisions.</li>
<li>Architect/draftsperson - look for a cost effective construction design.</li>
<li>Builder and other tradesmen; plumber, electrician, carpenter.</li>
<li>Consultants such as an engineer and private certifier.</li>
<li>Quantity surveyor for your depreciation schedules and cost reports.</li>
<li>Development project manager  – to guide you through the process, share their experience and bring savings to the project. </li>
</ul>
A lovely lady called Lily phoned me recently to tell me all about her incredibly bad experience with a builder she'd used on a large renovation project.
I was absolutely astounded by some of the things she told me. She'd reached the stage where the renovation was finished but there were so many ongoing issues that she decide to take the builder to court which was an expensive process. All the points she raised were very valid, however she did not win the case as she had 'insufficient evidence' to support her case. 
It is hard to know what builder to choose, and I have used a number of different builders over the years Property Bloom has been managing developments. Funnily enough, the very first builder I selected and used on our very first development project is still my builder of choice.
But over the years, I have tried a number of different builders and had numerous builders tender on our projects. The worst experience we've had was when one of the builders we used, on their fourth construction project with us, went into receivership without any warning.  That was not a great situation to have to manage.  In hindsight, there were warnings; slowing down on progress, disgruntled tradies and lots of vague responses to our investigative enquiries. We would turn up on site for our weekly site inspection only to find the site manger 'off sick'. When this happened twice in a row, we really started to hound the builder's head office, with most calls going to voice message.
I tracked down a carpenter I knew worked for the builder and asked if he'd seen the site manger lately or knew what was going on?  He very quickly let out a stream of obscenities and I soon gathered he had not been paid for the past four weeks!  
Now alarm bells were ringing in my head.
Sure enough the next week we were informed building company had collapsed. I could not get hold of the managing director who only a month before met me for coffee to see when the next project may be coming on.
It's hard to know what's going on inside a business but keep a look out for any small signals. Before you engage a builder, interview them not just about their track record in completing projects but ask about their financial position.  Ask what kind of 'float' they have in the bank and would they mind passing on their bank manager's phone number for you to make enquiries. These are very direct questions  and not many builder's will like it but the ones that have no issue with you making these enquiries in general should be OK to work with. Check they are an active member of the Housing Industry of Australia and check in with the Department of Fair Trading to ensure there has been no complaints lodged against them.
Also, ask the builder for a list of the current contractors or tradies and contact them to ask what the builder is like to work for? Does he pay promptly?  And are they planning to continue working for this builder?  If a tradie has been crossed, he will tell you all about it!
 After my bad experience with the liquidated builder many years ago, I rang my 'old tried and trusted' builder and said that I needed to know if they were OK financially. The next thing I know, there's an email in my inbox from the local Commonwealth Bank Manger just letting me know that this builder is in a good financial position. 
Our builder is like a business partner in a way. They offer our clients a good deal based on the volume of business we bring them and we know by working closely with them that their systems and processes are efficient. Our long standing relationship means we have open access to their entire team and we can always find an answer to a question or solution to a problem within a short time.
As project managers, our job is to manage our clients projects to bring in the best results. I know that nurturing relationships is important. By letting our team know how much we value working with them and continuing to nurture our ongoing relationship we get the best results for everyone.
<a href="https://www.propertybloom.com.au" target="_parent">www.propertybloom.com.au</a>
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The most common first time property developer mistakes: Team selection

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Each week I receive phone calls from people who have started a property development and then fallen into trouble.  
I can't help taking these SOS calls from fellow developers, even if we are not likely to do business together. Talking to them gives me a little perspective of issues others are facing.
 I've noticed a pattern.
There seems to be three different areas in which property development issues fall:
<ol>
<li>Site selection</li>
<li><a href="/expert-insights/the-most-common-first-time-property-developer-mistakes-team-selection">Team selection</a></li>
<li><a href="/expert-insights/the-three-most-common-first-time-property-developer-mistakes-site-selection">Not understanding the development process</a></li>
</ol>
This week, we'll look at the first area of contention - site selection.
Site selection in my opinion, is the most important process. If you don't choose the right site, then issues can snowball and no matter how good your team of understanding of the development process, you may not make up for the costs of buying the wrong piece of land.
The last call I received was from a lovely man called Sebastian, who I chatted to for more than half an hour about his development site. I don't normally offer a 'sob on my shoulder' service but I do honestly care about others and find it hard to ignore a fellow developer in need.
Sebastian explained that he'd purchased what he thought to be, a very good development site. It did tick a number of good criteria 'boxes' but then he told me that after he'd purchased the site, that council had 'all of a sudden' deemed it to be in a flood area.  He said when he'd purchased it, the Section 149 Planning Certificate in the Sales Contract had said it was not flood effected, although he had noted a creek a couple of kilometres away.
What Sebastian didn't know was that council had commissioned a flood study in this area. A flood study is usually commissioned out to a surveying company and can take months depending on the complexity of it. It’s a comprehensive technical investigation of flood behaviour for a particular catchment, river or creek. It is the technical part of the floodplain management process for councils.
By the time he was ready to lodge his DA, the study was completed and his land had changed to non-flood effected to flood effected.  Council would not allow additional dwellings (over and above the one house already on the large piece of land) on the land as in their words "it could add pressure to council's systems IF a flood was to occur".  They did, after further consultation, agree to review plans where the dwellings were built to a certain height (over 1.5 metres) and of course this would heavily impact on the development costs. The other major impact was on the potential end values of the new dwellings being located within a flood zone. 
So just how can you avoid this? Well, Sebastian's initial observation was good as he did note the nearby creek. But when he reviewed the planning certificate he let down his 'property developer' guard and did not question it. This is extremely common and some will say they rely on council's information. Never rely on council's information, do further research.   
Always check the date of the 149 Certificate, if it's not very recent, like within the last few weeks, request the vendor update it.  Remember within a few weeks a flood study could be completed and changes made to council flood areas. Your solicitor or conveyancer should be onto this for you as well.  If Sebastian had made an enquiry with council's flood engineer, he could have asked if there is likely to be any change to the flood zoning in the near future. The engineer would be aware of any investigations or studies being conducted in that area. 
Because we know the areas we work in so well now, we bring a level of experience - managing over 80 developments -  to the table but despite this we always conducts a thorough site investigation, inspection and review of council documents and the sales contract before we present a development site to our clients.
Stay tuned next week for part two...
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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The three most common first time property developer mistakes: Site selection

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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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This week I was speaking with one of the land developers we source our development sites from and was interested to hear her say that they’d been told that the NSW state government were currently fast tracking land releases to meet their housing acceleration goals. Music to my ears as we are always on the lookout for good development sites in well planned areas.
One of the most important roles the Department of Planning and Environment is to work closely with other agencies, councils and communities to plan for housing supply and delivery in "greenfield" or undeveloped areas, and "infill" housing in existing areas.
The NSW government has allocated more than $300 million from the HAF in the 2013-14 NSW budget to drive housing growth.
This includes:
<ul>
<li>$141 million towards eleven water, road or electricity projects in Sydney and the Lower Hunter which can accelerate 42,900 new housing lots.</li>
<li>$70 million towards an upgrade of Old Wallgrove Rd in the <a href="https://www.planning.nsw.gov.au/StrategicPlanning/Employmentlands/WesternSydneyEmploymentAreaWSEA/tabid/366/language/en-US/Default.aspx" target="_blank">Western Sydney Employment Area</a> to deliver jobs near major housing growth centres</li>
<li>$99 million towards the <a href="https://www.planning.nsw.gov.au/StrategicPlanning/FundingPrograms/LocalInfrastructureGrowthScheme/tabid/653/language/en-US/Default.aspx" target="_blank">Local Infrastructure Growth Scheme</a> to assist councils fund local infrastructure needed to support growth above the developer contribution cap.</li>
</ul>
With our focus on project managing property developments in the Hunter Region of NSW, I delved a little deeper into the NSW Planning website which is a fantastic source of information. I wanted to see where the $141 million spend on infrastructure and where the new housing was planned for, although I already had a very good idea.
<a href="/news">Maitland</a>....it’s one of Property Bloom’s favourite cities to build and invest in throughout the Hunter. This city has experienced solid population growth, has a diverse economy and the planned growth of the city is no secret.  Council has identified several areas for new land release.  It’s an affordable yet established city and benefited from some recent infrastructure projects such as the Hunter Expressway opening this year, a new hospital being announced, road and bridge upgrades and an aggressive planning program to accommodate one of the state’s highest population growth projections.
Maitland’s population is projected to grow by 42% from 2011 – 2031. It’s one of the highest projected growth areas of NSW. The main drivers will be net internal migration from within the state – people moving perhaps from Sydney or other areas and interstate migration. Also from high fertility rates, apparently they make lots of babies there. Actually what that means it that it’s a nice place to raise a family with good schools and facilities. Housing is affordable and there is solid rental demand.
<a href="https://www.planning.nsw.gov.au/projections" target="_blank">Check out the website</a>, it also gives you the age profiles of the community, household types and size and my favourite, projected dwellings – this shows the number of dwellings needed to provide private housing for all projected households. This is a fabulous tool and we are using it to understand the local councils and NSW Planning expectations. We can then help our clients develop their property development strategy targeting the right locations for their developments.
Property Bloom project manages villa developments; dual occupancies or larger medium density developments as well as granny flat complying developments. One of the points raised on the NSW Planning website is that in 2011, couples with children were the most common household type in the Lower Hunter. However by 2031, most households will be occupied by couples only or those living alone, together making up 56% of all households in these regions.  Also the 65-84 year age group is projected to almost double in NSW. So the low maintenance villa dwellings that we are producing will meet the demands of this emerging market.
<a href="https://www.propertybloom.com.au/" target="_blank">www.propertybloom.com.au</a>
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Planning for the emerging market - low maintenance, smaller dwellings

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As I was dicing onion for tonight’s dinner, I saw some news on TV that made my ears prick.
A house in Swansea, a suburb of Newcastle <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-05-28/sink-hole-opens-up-under-nsw-home/5482498" target="_blank">was seemingly sinking into a hole</a>. The cause? An old mine shaft laying approximately 25 metres below.
This is mine subsidence – very unusual, yet something we do prepare for in our development process.
The area underneath the neighbourhood was once part of the Swansea Pit, a coal mine abandoned in 1953.  It was reported that Mine Subsidence Board officers believe the sinkhole appeared above an old vertical furnace shaft. Today they were pouring concrete into the hole to stabilise the area around the house and hopefully they can secure the area and save the house.
There is one comfort for the house owners; the cost for this work required is covered by the Board.
The <a href="https://www.minesub.nsw.gov.au" target="_blank">Mine Subsidence Board</a> is a NSW government department funded by the current mining companies today. The mine companies pay a levy that goes into a trust account and is to be used for any repair works that are a result of mines located beneath the property. It operates for the community in coal mining areas of New South Wales and is responsible for administering the Mine Subsidence Compensation Act.  The Act provides for compensation or repair services where improvements are damaged by mine subsidence resulting from the extraction of coal. 
In an area where you are building new dwellings and that has been identified as undermined, there is a process to follow.
The Mine Subsidence Board is very helpful and provides strict building guidelines on what can be built and the construction methods.  They need to approve and stamp the engineer’s plans for the footings that will support the dwelling. They inspect during the building process to ensure the builder is meeting the engineering requirements and they keep a copy of the approved plans on file. 
If any problems arise in the future that relate to the undermining of the site, the Board make all repairs at their cost, kind of like an insurance company for your development but you don’t pay any premiums.
There is no time limit on the coverage so they basically guarantee the project as long as they have approved the engineering.
As part of our research process, one of our first checks on a potential development site is with the Mine Subsidence Board. They can tell you over the phone if the land our client is purchasing is within a proclaimed Mine Subsidence District.  The purpose of a District is to prevent damage through surface development controls that take account of the risk of damage by subsidence from old, current and future mining.
With detailed geo technical reports and the assistance of the Mine Subsidence Board, a development in an undermined area can be very successful. We have used ‘<a href="https://www.minesub.nsw.gov.au/SiteFiles/minesubnswgovau/MSB4ppA4Potholes07.pdf" target="_blank">pot hole</a>’ construction methods on a duplex development and the construction costs were not very much more than normal construction. But we did secure the land at a discounted price which meant more equity was created during the development for our client.
If you own a property in Newcastle, chances are its undermined, but the type of sinkhole activity reported this week is very uncommon, so don’t lose any sleep over it.
If you are building in a new estate, always have a geotech report completed and use the resources on hand at the Mine Subsidence Board to ensure your building process is correct for the location.
<a href="https://www.propertybloom.com.au/">www.propertybloom.com.au</a>
Feature photo: Guatemalan sinkhole, 2010. Courtesy of Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_parent">Creative Commons</a>.
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Sinkholes -  How to make sure your development doesn't get swallowed up from beneath

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The next time you look at buying a piece of land within a land estate, spare a thought for the land developer.
A few discussions this week with different large scale land developers reminded me of the number of layers they need to work through when developing raw land. Raw land is land that remains in its natural state and has had no development improvements, service connections, road works or other developments done to it so that you can build a dwelling there.
I certainly don’t envy the job of a large scale land developer as it takes literally years of work before they see any profits.
One developer told me that they’d been working with council for several years to get their development application (DA) for the land subdivision approved...and that was the easy bit.
Once a subdivision plan is approved the land developer then starts the real work in meeting the conditions of the DA consent so that they can apply for the construction certificate and then finally the subdivision certificate.  Then the final step is to have the individual lots that have been created, registered.
Once registered the purchaser can buy their piece of land and commence their own development journey. For Property Bloom it’s usually an application for a dual occupancy or a multi villa development.
Another land developer explained the stage they were at in one of their current subdivisions. After waiting longer than ever anticipated for the land to be rezoned there other major hurdle was seemingly simple.  
After obtaining the DA consent and in order to commence their civil works, drainage, sewer connections, road and other service connections, they needed permission to put down a 20 metre access crossover.
The owner of the land they needed to use to access their subdivision is the Catholic Church. The levels they had to work through to obtain this small 20 metre access gave the impression it was going all the way to the Pope for approval. Of course it wasn’t, but it was just an example used to convey the time some things can take.
It’s a great thing for us to work with these developers and our established relationships mean Property Bloom gets the low down on land that will be coming up in the near to medium term. We get a sneak preview of the subdivision plans before others so we can choose the lots most suited to our type of development. It gives us time to prepare our DA whilst waiting for the final registration of the land saving on valuable holding costs.
<a href="https://www.propertybloom.com.au/">www.propertybloom.com.au</a>
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Jo Chivers

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