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THEDEVELOPER’SADVOCATE
https://residential.colliers.com.au
D E V E L O P E R S A D V O C AT E E D I T I O N 1
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TA B L E O FC O N T E N T
The Colliers International Residential Development Sites team shares its market insights, current site and project marketing listings and our Lower North Shore success story.
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NSW Residential Development Sites Team
Market Outlook & Insights
Current Listings
Lower North Shore Success
Project Marketing
Conclusion
Th i s document i s comp le te l y in t e rac t i ve . For more in fo rmat ion on each agen t o r proper t i e s p l ease c l i c k on the respec t i ve pho to .
T H ET E A M
G U I LL AU M E VO L ZNational Director Development SitesM: +61 404 887 717 E: [email protected]
Guillaume heads the NSW Development team within the highly successful Residential business.
Guillaume has 20 years’ experience dedicated to selling Residential & Mixed Use Development sites and has sold many of Sydney’s iconic residential development sites in recent years.
H E N RY B U R K ENational Director Development SitesM: +61 418 238 636E: [email protected]
Henry is a real estate expert that has worked in the industry for over ten years specialising in Sydney Metro Sales with a specific focus on the North Shore of Sydney.
His enthusiasm and passion for the property industry coupled with his extensive knowledge of the industry and a strong network of developer, investor and property consultant contacts has attributed to becoming one of Sydney’s most active real estate agents.
E U G E N E W H I T EDirector Development SitesM: +61 423 021 439 E: [email protected]
Eugene’s professional background originated with project and development management. He has been involved with many landmark projects across Australia.
Eugene is actively involved in as-sisting clients with acquisition and divestment strategies that require a detailed knowledge of the project marketing and sales environment, as well as expertise in planning, devel-opment and feasibility analysis.
J ES S I C A E VA N SMarketing Executive Development SitesM: +61 411 399 590 E: [email protected]
Jessica runs the marketing for the NSW Development Sites team and is in charge of content creation, design, public relations and communications.
T H O M A S H ETeam Assistant / Analyst Development SitesD: +61 466 651 332 E: [email protected]
Thomas looks after all administrative tasks within the team and has since taken on an analyst role.
D E V E L O P E R S A D V O C AT E E D I T I O N 1
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DEMONSTRATED SYDNEY METRO
PROJECT MARKETING & RESIDENTIAL SITES
EXPERTISE
52% SHARE OF ALL SITE SALES OVER
$1OOM
CLEAR & CONCISE MARKETING
STRATEGY TO MINIMISE RISK
AN EXPERIENCED
SENIOR TEAM
ASIA MARKETS
CAPABILITY ON AND
OFFSHORE
M A R K E T O U T L O O KS U P P LY C O N T I N U E S T O FA L L
In most Sydney regions the supply of new projects is quickly slowing, and DAs show the same trend which was already evident pre-Covid. As a result, there’s general agreement there will be a dramatic fall in supply becoming starkly evident in 2021-2022 and an even stronger under-supply trend beyond 2022, when supply is expected to collapse.
Demand is currently being driven not only by the potential decline in the supply of new apartments, but also more generally as many established developers driven by recently completed projects, are now looking to secure a new pipe-line of future stock.
As markets hopefully gain confidence, and head back to more normal conditions in the final quarter of 2020, and with stabilised conditions, experienced developers are likely to drive demand for new sites.
Colliers believe this demand will be driven by a combination of very low supply, recovering buyer sentiment and low interest rates. Although for some, securing construction finance may to a degree remain a hurdle.
VA R I E D S I T E O P P O R T U N I T I E S
However, there’s already wide-ranging demand for sites covering varied development options. These range between sites that are ready to go with a DA in place, to raw sites and also large gateway sites, the variety of sites is a key aspect of the market’s appeal.
For example, the individual appetite of developers, some of whom are happy to take on planning and DA issues, while others want ‘shovel-ready’ sites, helps establish assorted value points across the city.
While in the full context Sydney’s North-Shore is set to deliver a wide range of development opportunities. Some are associated with the new Sydney Metro, as it continues to re-shape a number of suburbs including Crows Nest/St Leonards, Chatswood and Macquarie Park.
A factor that’s also helping to drive demand in the closely related North-West corridor between Rouse Hill and Castle Hill.
D E V E L O P E R S A D V O C AT E
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M A R K E T I N S I G H T SWatch Guillaume Volz interview Henry Burke about all things development sites.
Watch the Colliers International Residential team, Ethos Urban and Stamford Capital as we discuss the Sydney Residential Market Outlook for 2020 during and post COVID-19.
Guest speakers include Guillaume Volz and Blake Schulze of Colliers International, Tom Goode of Ethos Urban and David Scardoni of Stamford Capital.
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F U T U R E S U P P LY
The impacts of COVID will clearly be felt in the timing of new projects from their current holding pattern. The State Government is well aware of this reality and is keen to encourage development. Achieving this will need smoother and simpler the planning process including DAs and freeing up projects that are stuck in the Land & Environment Courts. While Stamp Duty reforms appear to be gaining momentum as a possible lever to stimulate growth and buyer demand.
While further measures to boost economic activity will continue to focus on infrastructure spend and the delivery of completed projects, alongside further asset sales by the Stage Government.
Conditions in the rental market will also change the demand profile for developments sites as demand continues to shift to the owner-occupier across varied demographics, but always underlined by quality.
While levels of unemployment and underemployment will have a big impact on market sentiment, and hence the demand for new development sites, low interest rates and various industry-focused incentives will act to help keep a floor under demand.
Supply levels have been falling since reaching their peak in 2017/2018 and by 2022 will be at a decade low. This will create wide-ranging opportunities that could benefit from a flight to quality. Continued demand from downsizers, a recovery in local investor demand from current low levels, and the very real prospect of renewed ‘safe-haven’ off-shore demand will give further support.
However, a second wave of COVID-19 could dent market sentiment and buyers (investors) will remain on alert for a stronger rental market. Against this background, Sydney’s strength can be found in the diversity and spread of opportunity, the big falls in supply, a government keen to encourage developments and Sydney’s safe-haven and lifestyle appeal when migration does start to improve.
D E V E L O P E R S A D V O C AT E E D I T I O N 1
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C U R R E N T L I S T I N G S
‘WIRRABARA VILLAGE’
DURALLuxurious seniors housing development opportunity of high quality. Set on an
expansive and incredibly rare semi-rural parcel of land in a tranquil and prestigious
position in Dural.
229 ANZAC PDE, KENSINGTONOne of the most ideally located boutique development
opportunities in the UNSW precinct, being directly adjacent to the UNSW Global building and directly
opposite the main UNSW Campus.
681 OLD SOUTH HEAD RD, VAUCLUSEThe property is located on the eastern side of highly
coveted Sydney suburb of Vaucluse, less than 100m* to the Rose Bay North Shopping Village. The properties at the
rear of site fall away to reveal expansive Ocean views.
92 NORTH STEYNE, MANLYResidential development site opportunity set in an idyllic position on Manly’s world
renowned beachfront.
142 HIGH ST, NORTH SYDNEYExceptional boutique residential development
opportunity with elevated views of Sydney Harbour.
112 & 114 FALCON ST, CROWS NEST2 x Semi-detached residences on one
title, presented in original condition with an R3 Zoning.
2 & 4 STANNARDS PLC, KIRRIBILLIRemarkable Waterfront Property with a 1,208sqm site area offering a 38.42m
frontage on Sydney Harbour.
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L O W E R N O R T H S H O R E
S U C C E S S
45 MCLAREN ST, NORTH SYDNEYAmalgamation of 18 unit owners on 1,783sqm of land.
Colliers highlighted an opportunity for potential rezoning to allow for high density residential.
5 COLINDIA AVE, NEUTRAL BAYBoutique block of 6 units on 823sqm site with R4 High Density Residential zoning.
Sold off market.
Colliers Internationals Residential Development Sites Team possesses a specific skill set in achieving above market values for homeowner sales to developers. In the past 12 months alone, we have sold over $150m of boutique development sites across the Lower North Shore.
The current COVID-19 economic environment is likely to impact residential real estate values in the short to medium term. Nevertheless, our research proves that, for the North Shore of Sydney the future development environment will remain strong, largely due to short levels of future supply mixed with strong demand for apartment style living traditionally seen on the North Shore of Sydney.
This intel and our strong knowledge of developer interest in the market creates a great opportunity for you to achieve a premium for your property.
Colliers International has an unrivaled and extensive track record of working with residential home and apartment owners to achieve a premium price via a collective sale.
If you would like more information about any of the below sales, please click on the photo and you will be directed to email the lead agent on this campaign.
85 KURRABA RD, KURRABA POINTBlock of 8 units on 1,454sqm of site area zoned R4 High Density Residential. Colliers sold via on market EOI for record Rate for Lower North Shore development site.
111 YOUNG ST, CREMORNEExisting strata building of 9 units zoned R2 Low Residential with a site area of 1,583sqm. Colliers
highlighted existing use rights to sell to a developer via an on market EOI process.
14-20 PREMIER ST, NEUTRAL BAYAmalgamation of 4 apartment buildings on 2,040sqm
of land zoned R2 Low Density Residential. Colliers highlighted ability to achieve existing use rights.
Sold via an on market EOI campaign.
107 HIGH ST, NORTH SYDNEYAmalgamation of 6 strata units zoned R4 High density on 1,262sqm of land.
Sold via an on market EOI. Colliers achieved another record for the area.
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N S WR E S I D E N T I A L
P R O J E C T S
AT R I U M , L I V E R P O O L
130 Apartments
Developed by Binah
B E L L E V U E R E S I D E N C E S , N O R W E S T
14 Land Lots (stage 1)
Developed by Aqualand
A Q U A L U N A , M I L S O N S P O I N T
63 Apartments
Developed by ZoneQ
E A S T S I D E Q U A R T E R , P E N R I T H
850 Apartments
Developed by CABE
C O T E R I E , C R O W S N E S T
18 Apartments
Developed by Avance
When you partner with Colliers International it not only guarantees you the best results, it ensures
that they are achieved with your brand and integrity front of mind at every interaction. Colliers
International is the one true global real estate agency, with experience and expertise across all
facets of residential.
E S T E L L E , B O N D I
14 Apartments
Developed by K2
T H E L I N D E N , S U T H E R L A N D
62 Apartments
Developed by Quantum Group
M E R R I N D A , K U R R A B A P O I N T
14 Apartments
Developed by Avance
T H E L A N D M A R K , S T L E O N A R D S
429 Apartments
Developed by New Hope Group
N E W M A R K E T , R A N D W I C K
623 Apartments
Developed by Cbus Property
M O N TA I N E , M O U N T A N N A N
139 Townhouses
Developed by Sunland Group
I N S U M M A R YColliers International’s Residential Development Sites team ensures a uniquely qualified overview at this pivotal-point in Sydney’s medium and high-density development market.
To fully appreciate the depth of this market professional and experienced consideration is required so that opportunities are not viewed in isolation.
Over recent years we have completed some 40-plus transactions with sales revenue of over $1.275 billion generated. These sales from many different locations, covering a wide range of diverse suburbs including Sydney, Willoughby, Kingsford, Cremorne, Randwick, Dee Why, Parramatta and Carnes Hill gives us a deep understanding of the market.
However, the market’s recent attention is naturally turning to conditions post-Covid, that are expected to favour experienced developers backed by a detailed understanding of sites, price-points and supply and demand profiles across greater Sydney.
D E V E L O P E R S A D V O C AT E
L E T U S K N O W Y O U R P R O P E R T Y R E Q U I R E M E N T S !
The Colliers International development sites team have a vast and diverse spectrum of sites currently on the market and available off-market. To receive information on these sites or to register your property requirements, please fill out the below form or speak specifically to a member of our team.
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E D I T I O N 1
Colliers InternationalResidential Development Sites
https://residential.colliers.com.au
Disclaimer: The opinions, estimates and information given herein or otherwise in relation hereto are made by Colliers International and affiliated companies in their best judgement, in good faith and as far as possible based on data or sources which are believed to be reliable. The material contained herein is not intended to substitute for obtaining individual advice from Colliers International or another advisor able to provide the services of a qualified professional person. Colliers International, its officers, employees and agents expressly disclaim any liability and responsibility to any person whether a reader of this publication or not in respect of anything and of the consequences of anything done or omitted to be done by any such person in reliance whether wholly or partially upon the whole or any part of the contents of this publication. COPYRIGHT Colliers International. All rights reserved. No part of this work may be reproduced or copied in any form or by any means (graphic, electronic or mechanical, including photocopying, recording, recording taping, or information retrieval systems) without the written permission of Colliers International.
