Brisbane Property

Residential developer Orchard Property Group has laid plans for a $23 million land release at Calamvale in Brisbane’s south to meet demand for homesites located within 20-kilometres of the CBD.

The project, to be named Jade, is the first in the Brisbane municipality for Orchard Property Group, with plans to deliver 32 lots across a 2.32ha site at 2236 Beaudesert Road.

The land development is positioned to appeal to the owner occupier, primarily second and third home buyers, with the site located within easy reach of an array of amenities including schools, childcare centres, shopping centres and medical centres, as well as recreational parks, sporting clubs, dining options and transport links.

Orchard Property Group’s CEO, Ted Cronin said the opportunity to develop new residential homesites in Brisbane are extremely rare in today’s market.&nbsp;

“The Calamvale site ticks all the boxes for homebuyers who are looking to build their dream home within easy reach of the city and so close to the lifestyle and urban amenities buyers seek,” Cronin said.&nbsp;

“Since acquiring the site recently, we have moved quickly to bring this development to the market to take advantage of demand for residences in such a prime location.”

Orchard Property Group is planning to launch the boutique residential development to the market in the first quarter of next year, pending council approval.

With 40 years’ experience under their belt, Orchard has previously largely focused on the region’s key growth areas of Logan, Ipswich, Moreton Bay, and Gold Coast.

The Calamvale development provides the company with a rare opportunity to deliver a vital infill project to meet ongoing demand for prime residential land in Brisbane.

The company currently has four residential subdivisions under way in south-east Queensland worth more than $300 million that will deliver 1,453 residential lots to the market, including project’s, The Junction Narangba, Aurora Ripley, Willow Logan Reserve and Pebble Creek South Maclean.

Once underway, the Calamvale project and a proposed new development at Caboolture, Aire which comprises 266 lots, will bring the total value of Orchard Property Group’s Queensland development portfolio to $380 million.

With 40 years’ experience under their belt, Orchard has previously largely focused on the region’s key growth areas of Logan, Ipswich, Moreton Bay, and Gold Coast.

alisonwarters@gmail.com

Orchard Property Group plan for first Brisbane land release 

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Oliver Hume, one of Australia's largest privately owned real estate groups, has listed a major Brisbane project site for sale.
Its listing comes as the company reports a $2.2 million loss in its last financial year.
The loss, which follow the prior years profit of $10 million, came as a result of falling sales and land write-downs, according to Fairfax Media who went onto quote "insiders" as to the cause.
However a spokesperson for Oliver Hume wouldn't be drawn on the allegations of a "dramatic fall in the company's fortunes."
The accounts showed write-downs for its land, redundancies, and $3.2 million in sales commission cancellations.
Offers on 32 Cribb Street, Milton close today through Cushman and Wakefield.
Set on 3,479 sqm the parcel was valued in June last year at $11.5 million.
The holding has three street frontages.
It is currently approved for 260 units and 1,225sqm of retail accommodation.
Situated within access of all forms of public transport, retail amenity, Brisbane River and the CBD the property is code assessable for 20 levels and a variety of outcomes including commercial, retail and residential uses.
"Its current improvements allow holding income during development planning time frames," the agents advise.
The property last sold in 2014 by the Qld government for $13,706,520.
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Oliver Hume place Brisbane site on market

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EXPERT OBSERVATION
Brighter news for Brisbane landlords as the vacancy rate declined to 3% from 3.7% a year earlier, according to SQM Research figures. 
Asking rents for Brisbane units increased by +0.4% in the month, too, mainly driven by the upper end of the market (renting good quality property in inner Brisbane still doesn't come cheap, despite the soft market overall). 
Brisbane appears to have a turned a corner as population growth picks up and dwelling commencements now decline sharply. 
The 6mMA figures attempt to capture the latest trends, but do incorporate the Christmas period, when vacancy rates tend to be high. 
<img src="https://2.bp.blogspot.com/-cfT-Ng3Fy1o/WvtKDkHSxbI/AAAAAAAAqCg/3OLsp0ja3s4mgBlgrF-opHfFLrivSJ7zQCLcBGAs/s640/SQM1.jpg" width="640" height="374" data-original-height="809" data-original-width="1379">
Hobart appears to be through the worst for renters with vacancy rates rising slightly to 0.7%.
Adelaide is building plenty of houses, but hasn't experienced the surge in investors seen in the larger cities, and accordingly vacancy rates keep tightening, now down to 1.3%.
Melbourne was also tighter again on strong population growth at 1.3%. 
Sydney's vacancy rates was flat at 2.3% in the month, but plenty higher than a year earlier when it was 1.7%, while Perth continues to turn the corner. 
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Good news for Brisbane landlords as vacancy rate slips: Pete Wargent

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Apartment supply in inner Brisbane exceeds demand, pushing the vacancy rate to 4%, according to REIQ December quarter rental data.
Inner Brisbane (0-5 kilometre ring) vacancies rose from 3.7% in September last year to 4% in the December quarter, however the middle ring tightened from 3.4% to 2.1%. 
The REI advised the vacancy rate of inner Brisbane had only reached 4% or higher twice before – December 2013 when it reached 4.1% and March 2017 when it peaked at 4.4%, the highest level since records began in 2008. 
REIQ CEO Antonia Mercorella said this news was disappointing for investors, but not unexpected give strong levels of apartment supply coming to the market. 
“Approvals have fallen in the past six months and we know that this period - where supply exceeds demand - is likely to be only temporary thanks to a steadily growing population and consistent demand for inner city accommodation,” she said. 
“Just how temporary is difficult to predict but our expectation is that demand will start to catch up to supply very quickly and vacancy rates will return to the typically healthy levels this market usually achieves of around 2.5 – 3.5%.”  
The middle ring (5-20 kilometres) is affordable, and in most suburbs there is the convenience of good infrastructure and public transport and tenants have a good range of options to suit many budgets, Ms Mercorella said. 
 
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Empty apartments a concern for anxious off the plan Brisbane landlords

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El Nido, the Hamilton Hill home of Margaret Batt, the wife of bankrupt whisky baron Keith Batt, is for sale.
The property developer Keith Batt founded the Tasmania-based, award-winning Nant Whisky but declared bankruptcy in 2015 with $16 million worth of debt.
El Nido is one of the earliest and grandest of Brisbane's <a href="https://www.realestate.com.au/property-house-qld-hamilton-127111818" target="_blank">Spanish mission style era</a>, built in the late 1920s on a near 800 sqm hillside parcel.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/15/nido2.jpg" alt="">
It has four bedrooms, a 1980s style kitchen, swimming pool, spa, sauna and gym.
Ray White Ascot agent Damon Warat is marketing the home.
The company that owns the home is under the control of Brisbane liquidator Gavin Morton.
Morton was also the liquidator for another one of the couple's discretionary trust companies which owned Ragamuffin, the multiple Sydney-to-Hobart winning yacht.
This article was first published in The Weekend Australian property section.
 
 
 
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Hamilton's El Nido listed by wife of bankrupt whisky baron

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Former Brisbane Lion triple premiership captain Michael Voss and wife Donna are continuing to offload their Brisbane property portfolio having moved to Adelaide.
Earlier this year they sold Nu Haven, their five bedroom <a href="https://www.realestate.com.au/sold/property-house-qld-coorparoo-124783606" target="_blank">Coorparoo home for $2,578,000</a>.
The couple paid $2.55 million for the family entertainer when Voss took over as head coach at the Lions in 2009.
The next on the chopping block is a land parcel in <a href="https://www.raywhite.com/qld/mount-gravatt-east/1705603/" target="_blank">Mount Gravatt East</a>, 12 kilometres south east of the Brisbane CBD.
Voss paid $235,00 in 2002 for the 1138 sqm sub divisible land parcel on the hilltop of Panorama Place, nearby one of his earlier homes.
Ray White Holland Park agents Piers Crawford and Joseph Leong have set an August 19 auction.
Voss, the 1996 Brownlow Medal winner, had a disappointing four years at the helm of Brisbane, then returning to AFL coaching as Port Adelaide's midfield manager. 
He now lives in Glenelg.
This article first appeared in the Weekend Australian Mansions Australia section.
 
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