Adam Wiener said the brokerage has adopted an educational tone to try and increase public knowledge on the current state of the real estate market amidst uncertain times.
Adam Wiener said the brokerage has adopted an educational tone to try and increase public knowledge on the current state of the real estate market amidst uncertain times.
The Franciscan Order of Friars Minor has pocketed nearly $20m follow the sale of a significant seniors living development at Campbelltown.
The Catholic Church order founded in 1209, sold the 6.6ha parcel at 192 Narellan Road near the Hume Motorway to Uniting Care.
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Property records show the title deeds formally changed hands at the end of August for $18.755m.
Owned by the Uniting Church of Australia, Uniting Care will be able to capitalise of an approved DA for a seniors living site that forms part of the Maryfields Estate. The plans include a provision for up to 500 seniors dwellings and a further 200 aged care beds.
The Narellan Road landholding adds to the Uniting Church’s $1 billion plus property portfolio, which includes around 400 landholdings under its ownership in NSW.
Colliers International head of health retirement living Shalain Singh, who sold the property with colleague Matthew Meynell, said it was a strong expressions of interest campaign, with Innova Capital playing a key role in getting the sale over the line.
“They were able to liaise with the buyer to develop a site activation strategy and also managed the site remediation works for the completion of sale,” he said.
The Maryfields Estate masterplan has further developable land for uses including business precincts and residential subdivisions in the precinct, that is being built as a crucial business and wellness hub in the south west.
The site is located just outside the Campbelltown CBD and is across the road from a Western Sydney University campus.
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Karaoke, space to jam with your band, a fire pit to roast marshmallows, a running track, and an adventure playground with an obstacle course and climbing walls.
The amenity list at the R.Iconic South Melbourne development isn’t your typical apartment complex offering, but it has lured more than 150 buyers since April.
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There will also be a virtual golf range, a flotation spa, an amphitheatre, a bicycle cafe, and even an innovation lab complete with creative furniture and tools — all of which will be reserved for resident-only use.
Colliers International’s Tim Storey is handling sales and said the vast array of inclusions would build a community within the building.
“Feedback so far is people can see it’s not the normal apartment block, it’s a lifestyle,” he said.
“The location has great views to the bay and CBD, and it’s also on the South Melbourne light rail line.”
The 456-apartment, 32-storey first stage of R.Corporation’s latest project will also have a more pool, gym and yoga studio, gardens, private dining and lounge spaces, plus a wine vault.
Most buyers to date have been singles or couples in their 20s and 30s, another wave of which is expected after stage four restrictions ease.
“We had a real run as soon as we came out of the first lockdown, and sold a significant amount of units,” Mr Storey said. “And we are still selling units via Zoom.”
The 253 Normanby Road project recently commenced construction, and a number of apartments will be eligible for HomeBuilder grants.
The development’s 235 one-bedroom apartments range from $507,000-$642,500, its 157 two-bedroom pads are from $708,000-$987,500, and the 64 three-bedroom homes from $975,000-$1.26m.
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A run of multi-million dollar property sales in Brisbane continued this week with Blanco in Hamilton Hill being snapped up for more than $6 million.
Three-storey Blanco is the family home of Brayden Larkin, the owner of respected architectural firm Zephyr Industries and was sold by Ray White New Farm and Bulimba agent Matt Lancashire.
Mr Lancashire said the depth of the high-end market at the moment was unprecedented.
“You have no idea how many high end properties are changing hands. There’s so much money around.”
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The sale of Blanco brought Mr Lancashire’s total for the month to $32 million, with more sales imminent but not yet unconditional. He said in August the offices collectively surpassed $100 million-plus in sales, a record-breaking result over a month.
Blanco has been on the market since June, before it sold this week.
Mr Larkin said he built the property – a three-storey monolith with a $250,000 pool that appears to sit suspended on the side of Hamilton Hill and features lights from a Rolls-Royce – to be as functional as possible with a layout that would suit any buyer, at any life stage.
Mr Lancashire said the new owner, a single, young entrepreneur and Brisbane local, couldn’t be a better fit for the property.
“He wanted views, he wanted new, he didn’t want to do any work so Blanco fit the bill really well,” he said.
Alongside Blanco, Mr Lancashire has also been marketing Noir, a five-storey show-stopping home also designed by Zephyr and being built a few doors down at 9 Prospect Terrace.
The property could be among the last new homes to be built on Hamilton Hill after Zephyr snapped up the two remaining blocks a little while ago.
Expected to achieve a sale price in excess of $10 million, Noir is still under construction and is set to hit the market in October.
Mr Lancashire said there had already been an amazing level of inquiry about the house and he potentially had an overseas buyer, who was considering Noir as an investment. Should the sale go through, he said a potential tenant was also waiting in the wings.
The five-bedroom house spanning five storeys covers 1050 sqm of living space and has unobstructed river and city views from every level.
Mr Lancashire said the “architectural showpiece” set a new precedent for quality, scale and luxury, and offered “a combination of features and finishes seldom seen anywhere in Australia”.
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Geelong is bucking the trend of falling rents across major cities during the COVID-19 pandemic, with prices holding steady amid a surge in demand.
One agent described the residential leasing market as “manic” since restrictions hit earlier this year.
Melbourne tenants signing up for leases on the back of virtual inspections are driving competition for limited stock across all suburbs.
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They are among many Australians looking to relocate as a result of coronavirus, according to new research from Finder.
A survey by the comparison site reveals one in five people has moved house or considered pulling up stumps in 2020.
Finder’s analysis of SQM Research data also showed tenants could save up to $3640 a year by finding a cheaper property.
Melbourne’s median rental price dropped 6 per cent during the first lockdown, according to CoreLogic data.
But West End Real Estate, Geelong West, senior property manager Marie Washington said competition across Geelong had helped keep rent prices steady.
However, she said the market could take a delayed hit when JobKeeper payments ended.
“In the market you need to review prices from time to time for a variety of reasons but I don’t think that we are reducing the price of rents for available properties in Geelong because leasing is flourishing,” Ms Washington said.
“It has been manic, we are running out of stock in regards to leasing.
“If 10 houses hit my list I would lease them because I have that many people pre-approved.”
Ms Washington said Geelong tenants had initially been spoiled for choice in a saturated market and many who were still employed seized their chance to upgrade or find a better value property.
Now there’s wasn’t enough houses to meet demand, even though apartments were harder to let.
“Because people are wanting to get out of Melbourne there has been really big inquiry,” she said.
“Under stage 4 restrictions they can’t inspect them but we have been doing virtual tours or, if they are from Melbourne, some people have someone looking on their behalf.”
McDonald & Co, Geelong, director Brad Seller said rents remained steady and vacancy rates low.
“Some people are a bit reluctant to move right now so there may be less stock,” Mr Seller said
Real Estate Institute of Victoria data for the June quarter showed regional Victoria’s vacancy rate fell to 1.8 per cent, compared with a climb of 3 per cent in Melbourne.
In Geelong, the median house rental price grew by $10 to $400 per week.
Finder insights manager Graham Cooke said with rents falling in many locations it was prime time to find a better deal.
“If you’re in a position to move, now is the time to find a bargain,” Mr Cooke said.
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Thousands of new affordable homes for struggling families could be built within months if a key federal intervention is given the green light on October 6.
A new housing survey found that 1176 new affordable homes were ready to be built in the Sunshine State alone in the next year and a half – and over 12,500 all up nationally in the next five years – if the federal government delivers a crucial stimulus package in the October 6 national budget.
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The call for greater investment into affordable housing comes as Everybody’s Home campaign spokeswoman Kate Colvin warned of major housing stress set to hit families struggling in the midst of COVID-19 fallout.
“Socially we are on the precipice of unprecedented levels of housing stress and homelessness in Australia – and renters are at the very frontline of that crisis in Queensland. Rental affordability has already halved for families surviving on a minimum wage or who have lost jobs because of COVID-19.”
“When mortgage holidays and rental moratoriums are lifted and government welfare payments ‘tapered’, the true face of rental stress and homelessness will be revealed. A housing stimulus package will help keep more Australians housed and construction workers employed.”
Affordable housing covers rentals that are offered at below market rent, catering for families and individuals that need subsidised housing. Some states have previously offered stimulus packages for affordable housing stock to be built up by community and other bodies, but the Community Housing Industry Association wants a national building program to be rolled out urgently.
CHIA chief executive Wendy Hayhurst said Australia could start beating the recession immediately by investing in social housing construction if a Federal stimulus package was included in the October 6 budget.
“If governments invested in the full four-year Social Housing Acceleration and Renovation Program to build 30,000 social housing homes, up to 18,000 full-time equivalent jobs would be supported each year nationally – 6,000 of the homes in Queensland.
“Our survey shows that many of these homes are ready to be built right now and would create the immediate hit the economy is crying out for.”
Brisbane Housing Company chief executive Rebecca Oelkers has 32 new homes underway now at a Cornwall Street development in the Queensland capital.
“BHC is always working with state and local government, as well as private and not for profit sector partners, to identify opportunities for potential new developments. Federal stimulus funding would allow us to bring forward these projects and give local tradies some much-needed job certainty, and households in need some greater hope about their housing futures.”
“We have the capacity to really get things moving. We are excited about what we could do as part of a national construction and development program.”
Modelling by SGS Economics estimated that a full four-year SHARP program building 30,000 social housing homes would create up to 18,000 full-time equivalent jobs a year.
Nationally, federal support would mean nearly 3,500 new homes starting March-September 2021, over 1,500 new homes starting September 2021-March 2022 and 1,500 new homes starting from March 2022.
Pre-budget submissions closed August 24 with the federal budget set to be introduced to parliament on October 6.
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INXS guitarist Tim Farriss and his wife Bethany have listed their two-bedroom, two bathroom Fairlight apartment for October 3 auction.
Clarke & Humel have the leafy courtyard offering set within The Fairlight, the refurbished 1920s complex on Fairlight Crescent.
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Its picture windows frame leafy outlooks towards the harbour and its covered travertine-tiled courtyard comes with a water feature. It is in a block of six which saw its last sale at $1,585,000 two years ago.
The couple bought their apartment for $1.1 million in 2014.
Last month they sold Willabrook, their longtime Upper Kangaroo River retreat to film directors George Miller and his wife Margaret Sixel.
The $4.35 million Shoalhaven farm, which averaged a 30 breeder carrying capacity, had been featured on Better Homes & Gardens.
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He might be in England hoping to line up with the Australian national team, but meanwhile test cricketer Steve Smith’s newly acquired Vaucluse house is set for an extensive makeover.
The recently lodged plans show the star batsman and wife Dani Willis are seeking to remodel the home they bought four months ago for $6.6 million through Laing & Simmons agent Danny Doff.
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They’re renovating every level of the three-storey home starting with the basement where they will be making the gym bigger.
The ground floor living space is getting a small extension, and plenty of nice new stacker doors and windows. They’re opening up the kitchen, which will become an open dining room. The kitchen will be moved to run against a wall where there is currently a study, which will become the de rigueur butler’s pantry.
Its bigger living zone will feature a fireplace and an integrated TV set up.
The upstairs accommodation level is being remodelled with its master suite becoming grander. Its walk in wardrobe will have a central island seat. Its ensuite will have a freestanding bath, a shower and dual vanity.
The couple had their personal finance adviser, Titan Finance’s Trent Tavoletti lodge the paperwork for the plans by Daniel Sutton’s Precision Planning Building Designers. There’s been no Woollahra Council sign off just yet.
Smith is to undergo a concussion test before the second one-day international having being sidelined from the first after being hit on the head practising in the nets.
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The enormous value buyers place on quality homes close to the Pakington Street shopping village was demonstrated at a Geelong West property sold last week.
A family from Leopold has secured the renovated four-bedroom house at 114 Weller Street for $1.2 million.
The result was $100,000 above the initial price expectations for the 461sq m property, which sold in a matter of days.
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It was advertised with a $1m-$1.1m price guide. CoreLogic data shows the property was on the market for three days.
Hodges, Geelong West agent Marcus Falconer said the buyers wanted the position close to the village.
“They saw it in the Geelong Advertiser and came along and bought it,” Mr Falconer said.
“They were a local buyer, a client from Leopold just wanting to be closer to the village and closer to work.”
Mr Falconer said the Edwardian house was 150m from Pakington Street.
“It’s so close to all the shops. The location was the driver,” he said.
“It was a beautiful period home with a good renovation. It’s what got it across the line.
“It was a good, modern renovation when it was completed and it’s a beautiful family home.”
The Edwardian house retained period features likes stained glass windows, timber dado rails and wall panels, high ceilings and polished timber floors.
But the modern elements created a modern family home.
Floor-to-ceiling stacker doors and servery windows open to connect the main open-plan living space and kitchen to a north-facing outdoor area.
A huge rear picture window ensures the family room is full of light.
There are three bedrooms on the main level, with a fourth bedroom, that could double as a home office, upstairs with a separate powder room.
Geelong West house prices have climbed 3.7 per cent in a year to $700,000, Hometrack data shows.
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