Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Property Development

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GUEST OBSERVER
To most within the development sector, the world of construction finance beyond the major banks is largely opaque, with no clear signage or yellow pages directory to guide developers in the right direction to find the best fit for their business and project needs. 
There are a multitude of sophisticated providers of private construction or site acquisition money available to be tapped into, however most do not have a front door as such and they certainly don’t have a team of business development executives who pound the pavement looking for deals to invest in. 
They rely on origination businesses like HoldenCAPITAL to source and present the opportunities to them, which is why we commit a lot of our time to engaging with them to gain a clear understanding of what they will and won’t invest in and the terms on which they will do so. 
A point we often make to clients is that you wouldn’t waste your time trying to negotiate an important town planning issue without input from an experience town planner in order to draw on their experience, relationships and understanding of current approval authority expectations. 
Similarly, we see ourselves in the same light, tapping into the knowledge gained from settling over $340 million in new development transactions over the past 12 months and our accreditation with over 100 lenders to ensure we secure the best possible financial outcome for our clients. 
In fact, our list of lenders and equity providers is growing at the rate of about one a week and of these, some 87 are currently active in one form or another with Investor Funds, Mezzanine Lenders and Private Lenders accounting for over 70 percent of them. 
<a href="/images/2016/08/30/Screen%20Shot%202016-08-30%20at%2012.50.54%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/30/Screen%20Shot%202016-08-30%20at%2012.50.54%20PM.png" alt="">
In particular, we are seeing a growing level of demand for and supply of, Stretch Senior funding options where lenders are prepared to provide up to 86% of the Total Development Cost, in return for a total interest cost in the order of 11 percent but with more relaxed terms and conditions. This is particularly evident in the area of pre-sale debt cover, where there is scope to reduce this figure to well below the 100 percent+ required by the banks. 
The demand supply equation for construction funds tends to react quickly as evidenced when the major and second tier banks started to withdraw from the market under regulatory pressure and we saw increased demand on those smaller funds and private lenders to fill the gap. After a flurry of activity many were tapped out and we found ourselves looking further afield to meet the demand. 
Following interstate visits and trips to Asia we now have a significant number of new sources and as a result, we are finding that the capital supply is meeting demand and with a steadily growing supply of mandated transactions these new lenders are stepping up to meet the demand. 
This article was written by Dan Holden of HoldenCAPITAL, who are a bespoke construction finance firm, they arranged over $300 million of construction finance in 2015 across 52 projects. To discuss your project finance requirement please call (07) 3171 4200 or visit <a href="https://www.holdencapital.com.au/" target="_blank">www.holdencapital.com.au</a>
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jchancellor-FAypfDUnLy

The world of construction finance without banks: HoldenCAPITAL

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The Urban Taskforce have backed a working group who are set to explore solar access issues for the centre of Parramatta.
The Urban Taskforce have said their impact on future development demonstrates positive support by all levels of government for private investment and is good news for Parramatta.
Chris Johnson, Urban Taskforce CEO said that a recent ruling by the Greater Sydney Commission that flagged a change to a council rule for solar access has had a major impact on a significant number of private sector development proposals.
“At a meeting called this week by the Department of Planning and the Greater Sydney Commission attended by senior staff from the Council of the City of Parramatta together with representatives of the property industry and the owners of three of the affected sites, it was agreed to establish a Working Group to actively explore options that may more effectively support development whilst respecting the amenity of the public domain.”
“The Urban Taskforce attended the constructive meeting and made it clear that we support the vision of both the State Government and Parramatta Council for the growth of Parramatta and its role as a dual CBD with the City of Sydney."
Johnson said however the Urban Taskforce did point out a number of areas where planning rules in Parramatta appeared to be more restrictive than those in the Sydney CBD.
“The Urban Taskforce is also concerned that the planning rules seem to have changed since a number of the planning proposals were lodged in conformance with the previous rules.”
“The Urban Taskforce looks forward to actively participating in the Working Group as it seeks to expeditiously achieve a workable and equitable outcome acceptable to all key stakeholders.” 
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j.ballantyne1990-6AQqhLzZaK

Parramatta working group to explore solar access issues to the city centre

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This week I sat around a table with a group of very important people.  What made them so important? 
Well, with input from these particular people we could make a massive difference in the result of this property development.
We were meeting to brainstorm the best way to plan, design and build six villas on a 2000sqm block of land that I had sourced for my client.
The land we’d sourced is located in the Lower Hunter Region. The main economic driver for this suburb was a fairly recently opened expressway that now connected it with Newcastle and other major metro areas where employment opportunities lay. The city in which we will build has been awarded the accolade of the fastest growing inland town in NSW.
Ok back to the meeting.  The most important person there was our client, let’s just call him Jim. Whilst obviously important to me, he should be congratulated for taking on what is a very exciting property development. Jim has vision and can see the potential that I do in this project. Jim has a clear strategy; to create wealth through developing property as quickly as he can. 
He understands he has a set number of years before he retires and he doesn’t want to muck around. This is Jim’s second development with Property Bloom so he is well on his way. If all goes to plan (which is what the meeting was about) Jim will come out with a very handsome amount of equity that will be created through the development process. He could use this to pay down any personal debt and continue to build his property portfolio.
Also at the meeting was our town planning consultant. This man has invaluable experience working with the local council and gave us a clear strategy on how to tackle the Development Application (DA). This was not straight forward as we need to consider the lending criteria and stage the DA in the correct way so it can be financed. 
Next to him was our architect. When I met him, I was impressed to find out he used to be a carpenter.  This meant he had actually worked on a building site! 
This is a rare find, so I immediately thought he was pretty important.
Our builder has been in the game for over 20 years and bought along his construction manager who is very experienced and managers all the builder’s projects. I thought this was a great initiative as this guy is going to be directly overseeing our build, so what a great idea to include him at the design stage.  I’m sure he’ll take more ownership having been involved at this early level.
Also in attendance was the builder’s senior estimator who is the man who prices every aspect of the project, every square and lineal meter of it...so very important to have him there as he could tells us the areas where the big costs lay.
The final person was one of my project managers who had managed many projects not just for Property Bloom but for other builders so he has a strong understanding of the way builders work and also in the planning phases. 
I had called the meeting as we had just received a price back from the builder on our initial concept plan and we wanted to see how we could bring down the costs to increase the profit.
The architect, construction manager and the estimator started bouncing off each other on the engineering of the two double story villas, was there a way to decrease the metal beams required? 
Did we need double story? Yes.  
We were happy with the floor plan design of the villas, so our focus switched to the site levels and the extent of the retaining required. There was some fall on the land which meant the development would be stepped. It wasn’t long before an agreement was made to minimise the height of the walls so that they didn’t need to be engineered instead by clever slab design and site preparation.
We talked about the best and most cost effective way to subdivide the villas with the planning consultant and then discussed maximising the street appeal and front façades of the villas.
The table was buzzing and I found myself quietly reflecting on how lucky I was to do this for a job. I loved the interaction between my team and pondered on the value of the accumulated expertise of the people I had on my side. 
We left the meeting on the final note of an amount that we’d be happy to wipe off the costs; the architect would proceed with more detailed plans and work with the estimator to ensure he had the details to deliver the next round of costings.  The solutions that were found in that one hour meeting are very exciting. 
Every property development needs a good team. So don’t try and tackle it all on your own. As Oprah says, you can be lifted higher by others, so get yourself a group of experts that you can rely on and enjoy the process.
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a><a href="https://www.propertybloom.com.au/">.</a>
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jochivers-wq5Bp59R5a

Use the property development experience of others: Jo Chivers

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VentureCrowd and property developer Clearstate have raised $1.7 million in their second joint round of crowdfunding for a residential development in Sydney’s south west suburb of Austral.
The fund attracted more than 50 investors. Investors get 49 percent equity with a targeted return of 84 percent, according to a media release.
VentureCrowd's crowdfunding platform allows investors to buy equity into a property development before it is subdivided and sold , while developers such as Clearstate are able to raise equity through this form of alternative financing.
The two companies’ inaugural Riverstone development deal in Sydney raised almost $1 million in four hours.
The 2.4-hectare site in Austral will be sub-divided into 44 residential lots.
Clearstate is developing eight subdivision projects across the Western Sydney growth corridors and North West Melbourne, offering land for owner occupiers and investors.
Land parcels range from 260 sqm to 1,300 sqm, averaging 450 sqm per lot.
Lachlan Cameron, commercial director of Clearstate, said working with such a specialised platform provides access to a broad range of interested parties and allows us to put our development projects in the hands of the people who really want to invest in them.
Among the more than 50 investors in the Austral site is former Credit Suisse advisor Mitchell Hopwood, who invested through his self-managed superannuation portfolio as an alternative to a listed property fund.
“The Austral opportunity provided a relatively high, short-term return in a bite-size, easily understandable transaction that is fairly derisked from an investment perspective," he said.
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prateek24-ezbwHMbNAk

VentureCrowd and Clearstate raise $1.7 million in property crowdfunding deal

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Property prices around Melbourne's western suburb of Werribee is expected to be driven high with the proposed $20 billion China-backed Australian Education City should the State Government agree to the development.
The project, over 400 acres of greenfield land at East Werribee, is forecast to bring 80,000 new residents and 50,000 student, according to Savills' Julian Heatherich.
 He said there is no project that really compares with the scale of this proposal save for South Australia's ill-fated Multi Function Polis of the 1980s.
"Perhaps the difference is that the AEC would be located 20 minutes from Melbourne’s well-established and highly successful education sector, now the world’s fourth most popular student destination,’’ he said.
"Part of the success of Melbourne as a student destination was the cultural affinity that it had with China. 
"Chinese property investors and developers have strong links with Melbourne in business and education, many having themselves having attended school here and or have relatives that live here.
``You only have to look at the massive recent apartment investment in the CBD and suburbs like Box Hill and Glen Waverly to see that Chinese investors are very happy to do business in Melbourne,’’ Mr Heatherich said.   
He said the Australian Education City would become the largest research and development park in the southern hemisphere.
"Dairy Innovation Australia Ltd, which has announced it will soon cease technical consulting operations at its 180 Princes Highway, Werribee office and laboratory facility, would be one of the first vendors to test the market with the new project in the wind.
"It will be interesting to see just how the sale of this property is affected by the discussion around this project’s likely impact on the city of Werribee, especially given its highway exposure, 6000 square metre site and adaptability to a range of uses in accord with residential and educational growth.
"Should Education City get the tick of approval from the Victorian Government this sort of facility and others like it are going to attract a premium the likes of which has hitherto not been seen in Melbourne’s west."
 
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jonathanchancellor-7SQnKwU6yx

Melbourne's $20 billion Education City to drive property values

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A refurbished heritage community and arts centre in East Sydney, on the corner of Burton and Palmer streets, is slated to re-open late 2016.
The former Heffron Hall community centre will also be renamed to the East Sydney Community and Arts Centre and will feature improved access, more hire spaces and out-of-school hours facilities and a new public artwork titled S(w)ing by Turpin + Crawford Studio. The neighbouring Albert Sloss Reserve will be upgraded with a new playground, landscaping and seating.
 Monica Barone, chief executive officer, City of Sydney said the refurbished centre will provide a hub of community activity and events when it opens.
“We have retained heritage features of the original Heffron Hall while adding accessible facilities and more space for community activities in this popular inner city area,” she said.
“The centre and neighbouring reserve will become a much-loved hub for the East Sydney, providing interesting and inspiring activities for everyone in the heart of our inner city.”
The neighbouring park will get a slippery dip, rope-climbing tunnel, basket swing and other features.
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Heritage East Sydney arts centre refurbishment nears completion

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This week I listened in to a coaching call. It was a prominent company who have been selling their coaching/mentoring program for a while and I was curious to see what they offered.
It took me back to when I started my investment journey 15 years ago. I knew very little about property investing and all the different strategies you can use to grow your wealth.
With the help of hindsight, I reflected on just how I got going on my journey. I reduced it down to three important pieces:
1. Become educated, don’t overdo it and understand risk
After completing my intensive one-year training, I found there was always another course on offer. But I was chomping at the bit to put the things I’d already learnt to use.
I started to invest using one strategy well before my course was finished and ended up repeating it five times before moving onto another strategy. I found each time I completed a property transaction, I learnt more and as this experience built so did the quality of my deals. I found that taking action as quickly as I could, got me into the market faster and I could still study as I went.
But I also saw the opposite happen to others who did my course.  I watched as lots of people got sucked into a ‘vortex’ of needing more and more information before doing anything.
I thought that perhaps these people were worried about risk. Then I worked out, it was actually more of a personality thing. When I searched the thesaurus for the work “risk” this is what came up:
-        Danger
-        Possibility
-        Endanger
-        Chance
What jumps out at you when you read that list? 
The words I see are “possibility” and “chance”.
Property development has a ‘reputation’ for being risky.  Before I started learning about it I also thought it was risky. Why? Because someone had told me that. As I didn’t really know much about it, I held onto this belief.
When I leant more, I changed my belief from seeing development as risky to seeing it as exciting.
If you focus on the risks, you can’t see the opportunity. So I focus on the opportunity.
Over the years, we’ve found a way to derisk the property developments we project manage.
2.  Take massive levels of action
Get ready to work. Action speaks louder than words they say. Action is where you are going to really learn. I think some people underestimate just how much action you need to take to move forward.
Action can start with research then move to analysis then through to inspecting properties and making offers and then to negotiating the purchase and can keep moving into adding value to a property. Whatever your situation, there is always an area you can take action in. If you can’t get a loan, find a finance partner. If you don’t have a deposit, find an equity partner, if you don’t have time or experience, find a project manager.
Do anything but make excuses. There will always be a reason not to take action if you let there be one. This is a classic excuse; “It’s not the right time, the market isn’t good”, believe me, there is always opportunity in the market - you just need to tailor your action to the market.
3.  Refine your process
Practise makes perfect!  Every property development we manage is a little different but our system is almost always the same. With over 100 developments behind us, we’ve refined our process to ensure we get the best from a development project for our clients.
Like when I started out, I repeated my first investment strategy (which wasn’t developing) 5 times before I moved on to another one. The reason I moved on was market conditions changed and so I found a better strategy that would work in all conditions. Property developing or adding value allows us to create equity through the development process. By doing this, we are building in a ‘buffer’ of protection.
Property developing is a very detailed process, there are many steps involved. Each step can be refined and so there’s always opportunity to fast track or fine tune a step which will in turn, impact on the entire process.
So there you have my top 3 tips to getting started on your property development journey. Don’t hesitate, get educated, take massive action, repeat and refine your process. Oh and there is one more…have fun!
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a><a href="https://www.propertybloom.com.au/">.</a>
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Three tips to get you started on your property development: Jo Chivers

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Mittagong's The Old Bank, known to most who've passed through the Southern Highlands town, has been listed for sale.
Constructed in 1892, the property was dilapidated until Barbara Whitehouse and Warwick Wainberg of Canyonleigh bought it in 2008.
The new owners, who'd previously development properties and worked in the hospitality industry, went about <a href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-mittagong-502049538" target="_blank">renovating the Main Street building</a>.
Still featuring its period detailing, the property has eight bedrooms, each with ensuites, a total of nine bathrooms and secure parking for eight cars.
Colliers listing agents Deborah Cullen and Richard School are listening to expressions of interest.
They offered some uses for the building, suggesting it can be used as a residential home, restaurant, boutique hotel, bed and breakfast, corporate headquarters or a club.
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Mittagong's The Old Bank has been listed

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The former property developer Warren Anderson is suing the mortgage fund, Angas Securities and his receivers KordaMentha.
He is seeking $174 million, claiming they acted inappropriately in selling up his assets and forcing him into bankruptcy.
The lodgement of the statement of claim by Warren Anderson and his children, revealed today in The Australian, comes as shares in Angas on second-tier bourse the National Stock Exchange of Australia were suspended from trading yesterday given its wider concerns.
The Australian on Tuesday revealed Angas, which owes investors $220 million, had missed another deadline to repay investors.
Facing major financial problems, Angas has failed to meet any of the first three instalments in time and in full and trustee The Trust Company has said it is now “deeply concerned” Angas will not be able to make the payments.
The Anderson issue arose after Anderson’s family trust Owston Nominees No 2 borrowed money from Angas.
In March 2009 Angas appointed receivers KordaMentha to the trust following a breakdown of Mr Anderson’s marriage.
KordaMentha and Angas took control of Owston’s biggest asset, the Fernhill mansion at Mulgoa in western Sydney.
A spokeswoman for KordaMentha told the Australia the firm was not handling the case because the two former partners who had overseen the Owston receivership, Chris Powell and Stephan Duncan, were no longer with the company.
Their Adelaide-based firm DuncanPowell would be responding to Mr Anderson’s claims, she said, although they had not yet been served so were unable to comment.
Fernhill is currently for sale. Set on 383 hectares at the foot of the Blue Mountains, its stunning seven bedroom sandstone residence was completed in the 1840s for the Cox pioneering family.
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Warren Anderson sues Angas in Fernhill, Mulgoa saga

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<img src="/images/2016/07/05/Holdencapital_banner.jpg" alt="" width="617" height="130">
SPONSORED POST
I have noted the growing frustration amongst developers in recent times with the banks requirement for higher pre-sales, particularly as the market shifts more towards owner occupied product and away from investment sales.
So I thought it worthwhile taking the time to explain that essentially, it is a means to reduce the capital impost on their own balance sheet position and maintain their return on capital that drives this requirement.
I have previously talked about the new world order in construction finance and the impact that the regulatory changes are having on our sector and this issue is directly related.
Without wanting to get too deep into the processes involved, simplistically, the banks are required to risk model every new loan transaction, which then directly determines the level of risk capital they need to allocate in their balance sheet. Construction finance can attract a high level of risk capital and given the outcomes of these models are regularly audited by APRA to ensure compliance, the banks are very motivated to achieve a lower score which means less risk capital is required improving both their return on capital and potentially an improved share price.
As a result, two key risks banks look to mitigate when assessing a construction loan application are the market and financial risks.  If a bank is required to take control of a project prior to completion, it may be forced to sell any unsold stock to recover its debt and it will generally be restricted to marketing and selling that stock in the local market. Before committing to the loan, the bank will generally require a number of pre-sales to be secured from local buyers to satisfy it that that local market actually has an appetite for the product at the price point implied in the feasibility. A pre-sale requirement of around 25 to 30% of the project stock is normally considered sufficient to mitigate that price point risk.
Because of their very nature, offshore pre-sales do nothing to satisfy banks that the local market has accepted the product or price points and it can often be the case that those sales are actually motivated by other needs such as a future migration opportunity for the buyer. As such they don’t reflect the local demand that the bank is looking to satisfy in the event that they are required to sell unsold stock in a default scenario.
The second risk mitigated by pre-sales relates to how much of the banks capital is exposed in the event of a default by the borrower. How many pre-sales will need to be secured to adequately mitigate this risk is determined by the loan metrics comprising the ‘Loan to Cost’ and ‘Loan to End Value’ ratios. Banks use these as a means of determining the level of equity the developer has at risk in the project and therefore how much of a discount the project can stand before that equity is exhausted and the Bank’s capital is at risk. Both are also key drivers in the loan risk model I mentioned earlier.
The ‘Loan to Cost’ ratio largely measures the cash equity contributed by the developer and determines the loan funds that will be required on a “cost to complete” basis, ensuring the bank always has sufficient funds to complete the project while maintaining the level of exposure they committed to at the outset the completed stock settles for its full on completion value.
The ‘Loan to End Value’ ratio measures the banks exposure relative to the market value of the completed product and as such is a measure of how much discount the product can bare before the bank is exposed to a capital loss. The higher the leverage the more pre-sales are required to ensure this risk is minimised. Traditionally Banks were keen to see that there were sufficient pre-sales to ensure that in the event that no further sales were achieved during the construction phase, there would still be an ability to refinance the balance stock at or close to a 50% loan to value ratio. This was reflected in presale requirements ranging from 30-50%, however as they have become more concerned with the state of the markets in terms of oversupply and a potential fall in value of completed stock, the requirement for increased presales to minimise this risk has become more important in their credit modelling and assessment process.
Banks also prefer pre-sales mitigating this financial risk to be by way of local sales because in the event that they end up in control of the project, they believe they will have more success in enforcing the terms of the sales contracts against local purchaser to settle. Historically, it is almost impossible for banks to enforce against foreign buyers and this is another negative factor when inputting the deal metrics into the banks risk model.
Most banks will allow 10-20% presales to off shore purchasers but will usually insist on closely vetting the contracts to satisfy themselves as far as possible of the bona fides of those buyers. This due diligence approach is also applied to the local buyer contracts, which in the bank’s eyes represent their primary means of recovering both their capital and their targeted interest return when they approve the transaction.
So in summary, the banks fear of foreign buyers is primarily driven by the risks that they represent to the banks ability to recover loan capital but more importantly, the impact that they have on the banks own balance sheet from a capital allocation perspective which in turn has an impact on their share price. Its clear from this why we are seeing a rise in the private lenders participating in the sector and as I have previously commented, this is a permanent structural shift and one that developer’s need to come to grips with and revise their business plan for funding accordingly.
This article was written by Dan Holden of HoldenCAPITAL, who are a bespoke construction finance firm, they arrange construction finance and invest in projects through their equity fund, Queen Street INVEST. To discuss your project finance requirement please call (07) 3171 4200 or visit HoldenCAPITAL <a href="https://www.holdencapital.com.au/" target="_blank">here</a>.
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