Residential Development

Developers are set to swoop on a prime two block development site in the heart of the in-demand Broadbeach on the Gold Coast.

Property amalgamation specialists GV Property Group have managed to&nbsp;amalgamate the two blocks, some 12 owners, to create the 1,548 sqm site at 19-23 Anne Avenue. They have expressions of interest closing May 20.

GV Property Group agent Luke&nbsp;Reaby&nbsp;said the availability of parcels this size in the hub of Broadbeach are becoming few and far between

&quot;We have been working on this amalgamation for the last 12 months and are extremely excited to see the response it deserves,&quot; Reaby says.

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The site is just 300 metres from Broadbeach&#39;s Kurrawa Beach to the east. A tower would offer views over the Nerang River and Surfers Paradise CBD to the north.

To the west there would be direct views over the Cascade Gardens and views back down to the Casino and Broadbeach CBD to the South.

This&nbsp;pocket of Broadbeach is supported by some of the most successful developers such as Raptis, Little Projects, and Niecon, who have all had amazing sell-outs stories. Picking the right location is a top priority and this one is a no-brainer.&quot;

Developers have been quick to snap up any available land in the thriving suburb with Raptis recently lodging plans for their Anne Avenue site.

They had Bates Smart create a 383-apartment tower at 5-9 Anne Avenue. Raptis has also recently cleared the site at 6-10 George Avenue to make way for a proposed 40-storey residential tower.

Little Projects sold-out Signature residences are currently under construction in the area, as is Bassar Construction Group&rsquo;s inaugural Gold Coast project, the 39-level Infinity, which also recently sold out.

Morris Property Group kicked off the booming development back in 2021, completing Koko, which was inspired by the modern luxe of international boutique hotels.

The site is just 300 metres from Broadbeach's Kurrawa Beach to the east



Joel Robinson

Developers to swoop on prime Broadbeach apartment development site through GV Property Group

Vivére on Dorcas is the latest mixed-use development to hit South Melbourne, offering a new home for residents to enjoy every dimension of vibrancy this most enviable postcode has on offer.

Situated within walking distance of Melbourne’s Art Precinct, this South Melbourne&nbsp;development adeptly echoes the Latin roots of its name, “to live”.

Urban takes a look at five reasons why&nbsp;Vivére on Dorcas should be on a buyers shortlist.

1. Hotel, commercial and residential in one

[smartcode_project:default project_id=108979 project_image_fid=181115]

Not often comes an opportunity where hotel, commercial and residential finds its way into one project.

Soaring above South Melbourne’s Voco Hotel, Vivére is a new collection of 36 upscale residences delivered by BEKL, Amazon Property Group’s Australian operation.

Voco is operated and managed by internationally renowned IHG, offering premium room services, and a range of recreational amenities extended to residents of Vivére, including a gym, a sociable restaurant and bar.

2. Collaboration between top architects at Plus

[smartcode_project:default project_id=108979 project_image_fid=181113]

Vivére is a collaboration between Plus Architect’s director-architect Jessica Liew and interior designer Ivona Golubovic.

The 20-storey building forms a sculptural façade and harnesses the exquisite sightline from the east to west with elegant curves and segments.

Founded in 1997, Plus Architecture boasts a thoughtful and professional approach to design that delivers community-responsive, energy-efficient, beautiful residences crafted around the habits and lifestyles of real people.

“The design prioritises light-filled, practical, considered spaces that denote the meaning of home in a luxury or uber-premium package”, the project marketing reads.

3. Sought-after address

[smartcode_project:default project_id=108979 project_image_fid=181109]

According to BEKL, choosing South Melbourne was an easy decision.

“The address only a stretch from the city centre, offers a lifestyle that is rich and cultured, yet distant enough to procure residents a way of life that is effortless, down to earth, and family friendly”, the developers said.

Located in an elusive pocket of South Melbourne, Vivére enjoys a closeness to Melbourne’s cultural offerings, from street art to live music, gardens to sporting matches.

4. Flawless interiors

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Apartment interiors combine artful design with luxury finishes, including statement bathrooms, bespoke kitchens and considered floorplans.

Oversized floor-to-ceiling windows ensure optimal natural lighting, while state-of-the-art V-Zug appliances and a Verde Riviera Quartzite kitchen island complement the opulent exterior.

Each residence features engineered wooden floors and wool-blend carpeting, while private balconies deliver panoramic street views and elevated living experiences.

5. A range of exclusive and local amenities

[smartcode_project:default project_id=108979 project_image_fid=182905]

Vivére on Dorcas is a true advocator of a healthy lifestyle, boasting a range of local and exclusive resident-only amenities.

A well-equipped in-house gym, as well as the central location of Vivére, offer opportunities to work-out, cycle on two wheels, or jog around Melbourne’s iconic Tan Track.

Situated only two kilometres from the Melbourne CBD, off the northern end of St Kilda Road, the development presents a wealth of local amenities close at hand.

These include a range of convenient transport options, including both tram and train lines, as well as the new underground Anzac Train Station expected to reach completion after the construction of Vivére.

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Situated within walking distance of Melbourne’s Art Precinct, this Southbank development adeptly echoes the Latin roots of its name, “to live”

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Five reasons why buyers should be looking at South Melbourne apartments, Vivére on Dorcas

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Long considered gritty and unsafe, Footscray is now praised for its eclectic arts scene, foodie reputation and the luxury residential developments contributing to its facelift.

Located in the City of Maribyrnong, the suburb boasts a multicultural energy due to its diverse population resulting from successive waves of immigration throughout the 1970s to the late 90s.

As a new landmark precinct unfolds in Melbourne’s popular growth suburb, Urban takes a look at ten things you will love about Footscray. 
 

1. A new thriving precinct

<a href="https://www.urban.com.au/new-apartments/live-city-124-188-ballarat-road-footscray" target="_blank"><img alt="" height="942" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2021-03-17_at_12.51.35_am.png" width="1766"></a>

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Transforming Melbourne’s inner-western fringe, R&amp;F Property’s newest Footscray precinct brings the community to life.

While honouring the site’s industrial past, Live City will feature laneways, cafés, public spaces and heritage buildings to set the tone for Footscray.

 

2. Investment potential

“Following the likes of Collingwood, Fitzroy and Richmond, the potential of this former working-class industrial suburb is being realised”, the project marketing claims.

Footscray boasts promises of future growth with an influx of education and health workers.

The ‘Footscray University Town’ initiative, a partnership between Victoria University and Maribyrnong City Council, is further opening up opportunities for investment, enterprise and employment in the precinct.

The suburb additionally has a rental yield of 4.2 per cent for units, according to REIV, well above the Metro Melbourne of 2.8 per cent.

“Certain sections of Footscray […] are gentrifying and have got great potential” said property investment adviser, Michael Yardney, on his website in Janaury.

 

3. Live in a trendy suburb

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/gender-equity-wall-carla-mcrae-web.jpg" rel="gallery-all" title="Gender Equity wall by Carla McRae, Footscray."><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/gender-equity-wall-carla-mcrae-web.jpg?itok=Her7rn4G" title="Gender Equity wall by Carla McRae, Footscray." width="580"></a>

<figcaption>Gender Equity wall by Carla McRae, Footscray.</figcaption></figure>Footscray is amongst Melbourne’s trendiest suburbs, according to Time Out. The melting pot of cultures boasts a diverse offering of restaurants, bars and eateries.

Melbournians love food and Footscray delivers brilliantly on diverse dining experiences.

The Fresh Food at Live City will deliver residents everything they need to whip up a gourmet dish at home, from delicious deli goods to freshly roasted coffee.

 

4. Health and fitness facilities

Live City is giving Footscray the fitness rejuvenation it needs, with countless health and fitness amenities available to residents.

A dedicated pool and proposed gym within the development encourage a balanced and healthy lifestyle, with an array of workout choices and state-of-the-art facilities.

 

5. City views

<a href="https://www.urban.com.au/new-apartments/live-city-124-188-ballarat-road-footscray" target="_blank"><img alt="" height="626" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2021-03-17_at_12.56.32_am.png" width="922"></a>

Designed to capture the best angles, each Live City apartment enjoys floor-to-city glazing and expansive views over the city and Footscray.

The development, which boasts a communal upper podium, features a communal bar and lounge, podium deck and green space to soak up the sunshine and take in the expansive outlooks over Melbourne

 

6. Surrounded by parks and recreation

Although still evoking a sense of industry, Footscray is surrounded by parklands and nature, with leisure opportunities abound.

Residents will have opportunities to walk, cycle, canoe, fish and barbeque by the beautiful Maribyrnong River. 
 

7. Convenient Location

<a href="https://www.urban.com.au/new-apartments/live-city-124-188-ballarat-road-footscray" target="_blank"><img alt="" height="562" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2021-03-17_at_12.56.04_am.png" width="950"></a>

Just a short walk away from two of Victoria University’s campuses, Live City boasts unmatched convenience.

Just six kilometres from the city and brimming with transport options, residents will feel never feel disconnected. 
 

8. Preserved heritage buildings

<a href="https://www.urban.com.au/new-apartments/live-city-124-188-ballarat-road-footscray" target="_blank"><img alt="" height="692" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2021-03-17_at_12.49.51_am.png" width="1034"></a>Live City sets to preserve the heritage buildings that formerly made upthe  George Kinnears &amp; Sons factory.

The site, which exists as a large industrial complex of early 1900s buildings, will be repurposed for the community, reimagined within the art scene.

Established in Footscray on Ballarat Road in 1902, the Kinnears factory manufactured rope, yarn, wine, canvas, carpet, linen, cordage, jute and flax. 
 

9. Live City’s Public Plaza

R&amp;F Property have designed streets and laneways to drive people into the beating heart of Live City, the central plaza.

The space is set to provide residents and the broader community with space to gather and socialise, featuring public seating, landscape sculptures and pathways.

“Like a network of arteries,” the plaza is set to become the “new heart of Footscray”, the project marketing claims. 
 

10. The luxury apartments themselves

<a href="https://www.urban.com.au/new-apartments/live-city-124-188-ballarat-road-footscray" target="_blank"><img alt="" height="1707" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/dsc00985-scaled_0.jpeg" width="2560"></a>

The residences themselves play a role in reinvigorating the inner fringe suburb of Footscray, creating a contemporary community with thoughtful design.

Live City’s lobby delivers a transitional space that buffers the energy and activity of the outside world from the interior.

Designed by Hayball, the sculpted walls, feature ceiling pendant and complementing arrangement of greenery breathe life into the complex, while earthy finishes reference the site’s original heritage as a ropeworks factory.

Inside the apartments, timber flooring, a reconstituted stone benchtop and open-plan living brings together the kitchen, dining and living into a communal space. 
 

One-bedroom apartments in the home are priced from just $350,000, while three-bedroom residences begin at $690,000.
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Transforming Melbourne’s inner-western fringe, R&F Property’s newest precinct brings the Footscray community to life

No longer considered gritty: What development is transforming Melbourne’s Footscray?

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The COVID-enduced downturn in the Australian economy has given residential developers a chance to look to the future and secure residential sites across Sydney.

The NSW Residential Site Sales Division at Savills secured 12 sales over 2020, worth over $330 million, and have another four sites set to exchange early this year for another $190 million.

Apartment sites located near rail, retail amenity and educational facilities remain in high demand, with the lower and upper north shore, city fringe and inner west particularly popular.

Real estate forecasts are strong for 2021 and beyond, particularly in Sydney, where 

Off the plan sales in premium residential blocks such as Crown Residences, Kurraba Residences and the Sirius Building were strong over 2020, particularly in the owner-occupier market.

Savills Australia's director of residential site sales Stuart Cox says he anticipates 2021 being their biggest year on record.

"The residential market is set to bounce in a very positive direction," Cox says.

Cox suggests 2021 has all the ingredients for a rapid recovery for the residential market, with record low interest rates, government grants and incentives and the winding back of restrictive lending obligations which will make it easier and quicker for owner occupiers and investors to get a loan, once it comes into effect in March 2021.

“House and land developments experienced a huge resurgence during 2020 as developers took advantage of the various Federal and State stimulus programs currently available which were introduced to keep the construction industry going through the pandemic, these measures are expected to continue to strengthen the demand for house and land developments well into 2021," Cox says.

Cox said his team is still experiencing significant interest from well-established local Asian developers with strong offshore backing for sites in excess of $50 million that can provide scale and access to rail networks.

“Looking ahead to 2021, there are a significant number of sites already signed up and set to hit the market towards the beginning of 2021, with site values ranging from $10m to over $100m, located across of Sydney.

"We anticipate 2021 being our biggest year on record as the residential market is set to bounce in a very positive direction."

 

 
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Residential developers eye quick recovery in Sydney as development sites get snapped up

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For those of you who follow my writings (I am grateful), you may be aware that I started my property journey 14 years ago.
Lately, I’ve been reflecting on what’s happened over that time. It’s nice to allow time to remember because life can be so hectic.
14 years ago I purchased my first investment property. I had purchased two homes (principal places of residence – PPRs) before then but one of them hardly counts.
I’d bought a house with a boyfriend who decided a few weeks after we settled on the property and moved in together, that he wanted to ‘explore’ a relationship with an old flame.
Well that went down like a ton of bricks!
Here I was working crazy hours in a product manager’s role, studying at university three nights a week and just invested all of my hard earned savings into a home with someone now thinking the grass may be greener elsewhere.
Needless to say I ‘asked’ him (very loose description) to move out, giving my blessing for his so called ‘exploration’ project. I then put the house up for lease and moved home to mum and dad – thank goodness for parents.
After a couple of years, I sold my 50 percent share to him, recouped my savings and promptly used them for a deposit on my second home, bought with a husband this time. I’m still living in this home and it has served us well.
Back to my investments…it all started when I was pregnant with my first son and picked up the book Rich Dad, Poor Dad by Robert Kiyosaki. This was life changing for me and literally a light bulb moment.
I put the book down, booked into an intensive property educational course and whilst studying, working, pregnant and highly motivated, bought my first investment property. It settled around the same time my beautiful son was born and I couldn’t have been happier. I was now a property investor and a mother.
This led to buying four more within two years. Sydney was in a growth phase – it was 2002 - but still property seemed very expensive, pretty much like right now! I quickly learnt that whilst the properties were increasing in value, the yields in Sydney were decreasing. I needed cash flow and the properties I’d purchased were negatively geared. Not bad for my tax returns, but still draining.
I’d already started researching large regional areas outside of Sydney where properties were cheap, rents were strong and land size large. I purchased a property, renovated the house, added two dwellings and subdivided it. Now I was a property developer as well as an investor.
I loved the idea of adding value and creating equity, rather than passively waiting for growth.
This led to my property development project management business; Property Bloom. I had two friends who saw what I was doing and wanted me to manage a development for them. And so I started a system that I’ve never stopped refining. My first two clients/friends lead to many more and now I’ve developed over 100 properties for happy investors who wanted to take their first step into property development but needed some help.
What else has happened?
I had another beautiful son 9 years ago. This was interesting times with a little baby and a 6-year-old to care for and a growing business to run, I worked harder than ever. There was no napping when the baby slept, I’d jump into the office when he napped during the day and work into the nights. I was tired but determined.
My determination came from watching my parents retire on very little. There was no Super in those days. They had some money from selling the family home and downsizing to a sea change location but had to rely on pensions. No grand world trips to celebrate years of hard work for them. They were still happy, but had less options. I wanted a lot more for my retirement. I wanted the freedom and options that comes from having money.
My property portfolio appreciated and my business grew. I felt I was finally building wealth. Then, 3 years ago the worst thing happened.
After almost 20 years, my marriage crumbled and I found myself in the most difficult time of my life. I was scared. I didn’t know how I could get through it or what the future held. I focussed on one day at a time and thank goodness my business kept me focussed.
Guess what? I did get through it, my financial situation actually improved even after the property settlement with my ex and I am happy. I coped because the energy around me changed. I know this sounds a bit new agey but the energy in my life during the final stages of marriage was not good. As soon as things changed, I literally felt positivity radiating around me. I have awesome friends, awesome sons and awesome family that all helped me and I am very grateful.
I have learnt that gratitude is paramount. When you feel grateful, you feel great. Try it. Think of something you are really grateful about and I guarantee it’s put a smile on your face. You can also attract things and people into your life with the right focus and energy. Trust me it works.
When I read that book 14 years ago, I had no investments and were about to start a family. Now I have a portfolio of investments and feel secure about my future. My pride and joy – second to my two sons of course - is Property Bloom, my business. I get to do exactly what I love every day, help others and have flexibility and time for my boys and special friends.
Life is good. 
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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A lot can happen in 14 years: Jo Chivers

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We have just completed this fantastic corner block duplex project for our client Bob in Newcastle. 
Total cost of project; includes land, DA and CC consents, Torrens title subdivision, full turnkey construction, legal fees and stamp duty:  $785,143
Both villas sales price (have exchanged now):  $1,035,000
Equity created within 14 months (before any tax applicable):  $249,857
Return on Investment in 14 months after project management fee: 19.6% 
Key highlights of this project:
•      The villas have uninterrupted views
•      Equity creation $249,857
•      ROI within 14 months is 19.6% (after PM fee deducted)
•      Both villas sold before Handover
 
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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Creating equity in a residential development: Jo Chivers

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<img src="/images/2016/12/07/CWG-logo-270W-trans.png" alt="" width="433" height="117">
SPONSORED POST
One of Australia’s fastest growing diversified property company’s CWG Development (formerly Chiwayland) has purchased one of Ryde’s most prominent prime locations situated at 771–775 Victoria Road.
The company has recently launched an iconic structure on the site known as Stellar Ryde, designed by award winning architects SJB.
Jennifer Loh, head – sales and marketing for CWG Development, comments: “CWG purchased the site in February this year and knew it had the potential to become something very special. Its central location in one of Sydney’s fastest growing areas has made it very appealing due to its accessibility to major shopping precincts, transport links and employment hubs including Epping, Eastwood, Macquarie Park and Sydney’s CBD.
“Stellar Ryde is located at the gateway to Ryde and will set a new benchmark for sophistication in Ryde. It represents the epitome of luxurious living in a green suburban metropolis. SJB has designed a striking bold structure and beautiful interiors, supported by leading engineers, builders and town planners to help bring CWG Development’s vision to life.”
CWG Development entered the Australian market in 2014, supported by its parent company CWG International Limited, which is listed on the Singapore Stock Exchange, and ranked as one of the top 100 real estate development enterprises in China.
In a very short period of time the company has become one of the leading property developers in Australia, delivering residential apartments and mixed use developments across both Sydney and Brisbane. The project value is currently in excess of $1.1 billion with total sales exceeding $340 million. 
Loh added: “The company’s future is looking very bright in this great country. CWG Development will continue to expand its property portfolio and seek well located sites in growth suburbs like Ryde to develop quality projects that will enhance the communities where they are located.”
For further information visit <a href="https://www.stellarryde.com.au/" target="_blank">www.stellarryde.com.au</a> or the display suite at 819b Victoria Road, Ryde which is open daily from 11am to 4pm.
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po-LsXgBTHBmX

CWG Development expands into Ryde

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When it comes to developing, we have all heard about the Development Application (DA) and the Construction Certificate (CC), but how and what exactly is involved with each council approval?
It is important to understand this process before you start developing.
The DA and CC are two very different approvals. If you find a DA approved site but the CC has not yet been issued, then you should understand that there is still a lot of work to do before you can start to build. Development Application (DA)  The DA is a request for permission to carry out proposed development. It also categorises the developments as requiring consent, developments not requiring consent (Complying Development, CDC) and prohibited development.
A development application is required for the following reasons:
<ul>
<li>Construction of new building or structure, including swimming pools, outbuildings,     retaining wall, jetties, etc</li>
<li>Add or alter an existing building or structure</li>
<li>Demolish a building or structure</li>
<li>Display an advertising sign</li>
<li>Change the use of an existing building or land</li>
<li>Carry out excavation, earthworks or adding fill</li>
<li>Development on or near a heritage listed item</li>
<li>Development within a heritage conservation area</li>
<li>Subdivide land or strata subdivide a building</li>
</ul>
A development application must consist of at least:
<ul>
<li>Completed application form and fees.</li>
<li>Copies of Site Plans indicating location of the proposed development on the land.</li>
<li>Copies of Plan/Drawings of the proposed development indicating elevations heights.</li>
<li>Other supporting documents (if required)</li>
<li>Construction Certificate (CC)  A Construction Certificate is required after the DA Consent is issued and before any building work is carried out.  You can apply for a Construction Certificate only if you have prepared detailed plans, specifications or engineering details. And importantly, if all the council and other service fees and charges have been paid.  This is where some first time developers may get caught out when buying a DA approved site. It's very important to understand the Conditions of the DA Consent and how they will impact the development.</li>
</ul>
The Construction Certificate certifies that relevant matters are adhered to, this includes:
<ul>
<li>The construction plans and specification comply with the relevant standards (ie Building Code of Australia);</li>
<li>The construction plans and specifications are consistent with the development consent; and</li>
<li>All conditions of the development consent requiring compliance prior to the issue of a construction certificate are finalised.</li>
</ul>
The CC is not required for complying development, where building details are covered by a  Complying Development Certificate (CDC).
If you are unsure of the planning process, then use a qualified town planning consultant or development project manager.
Jo Chivers is the director of <a href="Property%20Bloom" target="_blank">Property Bloom</a>.
 
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Planning your property permits

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This week, I came across a couple of quotes that really resonated with me. They were both around giving. 
It's funny but developing property in a way can be very 'taking'. What I mean by this is that you are always trying to get something more like a better deal or cheaper cost, a faster timeframe or a better sale price or rent.
But I've found over the years, if you give first then it becomes a far more enjoyable journey.
The first quote is from Robert Kiyosaki, the famous author of Rich Dad, Poor Dad. I read this book 15 years ago and it changed my life.
"Teach and you shall receive."
I think he's used a twist on a well known biblical quote 'Ask and you shall receive'. Maybe he was thinking along the lines of teaching so they didn't have to ask?  
Teaching someone is giving them the gift of your knowledge and experience and it's one of the many tips that Kiyosaki shares throughout the book. His words are eloquent concerning this idea: “There are powers in this world that are much smarter than we are. You can get there on your own, but it’s easier with the help of the powers that be. All you need to be is generous with what you have, and the powers will be generous with you.”
I call these "powers that be" the Universe and for me it is a powerful thing.
The other quote I liked is from Mike Dooley, author and entrepreneur - "Every time you give, whether it's your time, your compassion or your financial abundance, you're saying 'I am provided for'."
He's talking about leveraging the Universe and he says giving is powerful because it's a physical act that can demonstrate you know you're ok and that you have enough and it's this sentiment or perhaps energy that manifests for you.
Giving is such a simple thing we can all include in our everyday lives. It can be the smallest gift of a compliment that may make someone's moment a bit brighter.
Relating this back to property development, I do try to incorporate giving into our business. We hope what we give to our clients - time, knowledge and experience meets a number of their needs and helps them move towards financial freedom. Our clients pay us for our service but it's the extra thing - education - that we incorporate into this service in the hope they'll be able to use it sometime in the future.
I also hope by writing each week that I'm sharing something with those who read my stories. When I sit down and wonder what I'm going to write about today, I always try and make it come from my heart as well as my head and hope the information may help someone with what they are trying to achieve. 
 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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Teach and you shall give: Jo Chivers

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Remember the TV show Deal or No Deal?  
It’s a show where the player has a suitcase that contains an amount of money. They choose cases to eliminate them in the hope to end up with the highest amount which is $200k at the end. Along the way contestants can choose to take the bank deal offered or take a risk and continue to play. They may end up with $200k or with a much smaller sum.
I used to love the show and I’m always yelling ‘take the deal!’ as I vigorously rub the tips of my fingers together (this may sound weird if you haven’t seen the show).  My pleads directed at the TV get louder as the odds get slimmer.  I realised from playing this game even though I’m a property developer, I don’t like to take too much of a risk if it means losing money.
This threw me a bit as I always thought of myself as a risk taker.  Then I worked out that I do like risk, but only calculated risk.
Calculated risk is defined as:  “A risk associated with a certain course of action which has been given full consideration prior to making the decision to pursue that action. This is usually done when the potential gain is greater than any potential harm that might occur.” investorwords.com
The bit I like in this definition is ‘...when the potential gain is greater than any potential harm...’ ah, so that’s why I like risk, it’s what I do everyday; assess the potential gains in a property deal.  Also my job as property development project manager is to ‘give full consideration’ to a development and inform our clients before they ‘pursue action’.
In a way, the show was a bit like property developing.  If you hit the jackpot, there is good money to be made.  Making the decision on what case to chose could be somewhat like choosing a development site. 
If you chose the wrong site, you can uncover a $50,000 problem and eliminate a lot of your profit.  If you chose the right site, you may create $200,000. 
Property developing is about spotting potential and taking calculated risks. That’s why I love it.
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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Residential Development

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Have something to contribute?

Developments

New apartments

New townhouses

News