Issue 30 | The Property Development Review



th Bi r thday




The best and latest commercial and development opportunities in Australia

We speak with Australia's leading business leaders

Unique perspectives from the deal-makers on the ground

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The Property Development Review

From the CEO

Welcome to Issue 30 of The Property Development Review.

Happy Seventh Birthday Ready Media Group Every year is a good year at Ready Media Group however there is something particularly significant about this one. We launched into February painting the town orange as the newly advanced Commercial Ready website went live with a host of new features and fast, granular searching. Everything from signage to coffee cups wore the Commercial Ready branding, this further establishing the awareness of our incredible platform which will continue to offer clients even more as time goes on. We also grew in leaps and bounds with an additional 20 staff weaving their magic through our creative and marketing teams plus 9 new salespeople jumping on board - most, if not all of these being the best in the business. We now bring to the table an unparalleled level of products and expertise and so, on our 7 year anniversary we have great reason to celebrate! Thank you to our readers and clients who have all contributed to this success. The Interviews Rob Langton’s exclusive interviews with key business leaders only continue to get better in this issue, with names such as Leon Zwier, Charles Good, Leigh Jasper and Jayco’s one and only Gerry Ryan. In addition, we also speak with the Head of Real Estate Australia at Credit Suisse, Rahul Bharara who offers market insights on the property market both from a micro and macro perspective. Tamara Gross also continues to host our regular Women in Property & Business podcast where businesswoman and property investor, Patricia IIhan and COO of Salta Properties, Emma Woodhouse both offer their insights into clever property investment and construction.

Nick Headshot - TPDR Intro Page

We hope you enjoy the read. Best Regards

Nick Materia, CEO, Ready Media Group

Design & Direction Nespecart Advertising Enquiries Ted Lloyd

Editorial Enquiries

Contact TPDR Ready Media Group 161 Buckhurst Street, South Melbourne VIC 3205

Tel. 03 9631 5476

On The Cover Seven years of guests

Editor in Chief Frank Materia,


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The Property Development Review

Inside Issue 30

Women in Property & Business

The Interview

Gerry Ryan OAM Founder, Jayco Corporation 7


Patricia Ilhan Property Investor



Emma Woodhouse Chief Operating Officer, Salta Properties

Rahul Bharara Head of Real Estate and MD of Credit Suisse Australia

State Listings

NSW Property Listings 15 VIC Property Listings 39 QLD Property Listings 51 SA Property Listings 61 WA Property Listings 67


Leigh Jasper Entrepreneur & CEO Saniel Ventures co-founder of Aconex


Charles Goode AC Founder & Chairman Emeritus Flagstaff Partners

Leon Zwier Partner Arnold Bloch Leibler 35


Market Moves: Around the Country





Five of fice towers across Sydney and Melbourne

V: Canada’s Oxford Properties P: Hong Kong’s Link REIT

CBRE’s Greg Hyland, Stuart McCann and Flint Davidson

A 49.9% share in the portfolio

$1.1 billion





Colliers’ John Marasco, Anna Cavar, Oliver Hay and Adam Woodward, in conjunction with CBRE’s Mark Coster, Kiran Pillai, Scott McGlone and Stuart McCann Biggin & Scott Land’s Andrew Egan and Frank Nagle

1010 La Trobe Street, Melbourne and the adjacent Innovation Building

Two high quality, A-Grade Melbourne office investments on a large city land holding

P: Straits Real Estate

$150 million

59.16-Ha landholding suiting low-density residential development near proposed Clyde Major Town Centre

200-230 Moores Road and 185 Manks Road, Clyde

P: ID Land

$140 million

Cushman & Wakefield’s Leigh Melbourne, Nick Rathgeber, Mark Hansen and Josh Cullen

141 Camberwell Road, Hawthorn East

Four-storey building offers 10,249sqm of NLA, one fifth of which is designated retail

V: Bluepoint Projects P: Growthpoint Properties

$125 million

A 2.1-hectare development site in Alphington’s ex-Amcor paper mill A plot within the St Germain housing estate on Thompsons Road, Clyde North 341-359 Kororoit Creek Road, Altona

A permit for a $500 million covering Built-To- Rent residential, retail and office

P: A partnership between Time & Place and Corsair Capital

$48 million

13.15-hectare block sits opposite a proposed town centre

Colliers’ Trent Hobart, Robert Papaleo and Michael Gardiner

P: Stockland

$47.4 million

CBRE’s Bryce Pane and Ricardo Cappelletti JLL’s Josh Rutman, Tim Carr and MingXuan Li

6.19 Ha land parcel

P: Sector Property Group

$24.5 million

A fully leased office building positioned within the Central Dandenong Activity precinct

40-42 Scott Street, Dandenong

P: Private family office

$14 million

54, 56 and 58 Metrolink Circuit, Campbellfield

P: GLJS Investments P: Owner occupier

CBRE’s Daniel Eramo, Joe Brzezek and Jake George

1.193-hectare landholding

$9 million

V: ICD Property and Thailand’s Supalai Public Company P: Nigel Austin

Savills’ Benson Zhou and Julian Heatherich

35 Hyland Street, Fyansford

Two Gen Fyansford Town Centre sites

$7.15 million

CBRE’s Mathew George and Scott Callow

Lucky Coq Hotel, Windsor

$7 million

Hotel Freehold


1,224sqm building, including 993sqm of clear span warehouse, on a 1,449sqm site

$3.86 million

5 Pilgrim Court, Ringwood

P: A Melbourne investor

Teska Carson’s George Takis

P: A Melbourne based developer

Teska Carson’s George Takis and Stephen Speck

$2.2 million

15 Illowa Street, Malvern East

555sqm Residential Growth Zone site

A 250sqm, two-storey building with a recently renovated ground floor bar, restaurant and kitchen

Teska Carson’s George Takis and Stephen Speck

$1.775 million

135 McKinnon Road, McKinnon

P: An owner-occupier





Coles-anchored centre encompasses a total land area of 2.4 hectares

V: Coles P: Andrew Gwinnett

5 Adelaide Road, McCracken

JLL’s Ben Parkinson and Jacob Swan

$33.5 million

7,604sqm site area, the complex presents a bar, a bistro, a drive-through bottle shop and TAB gaming facilities

$11.5 million (off-market)

JLL’s John Musca, Will Connolly and TJ Board

Kilburn’s Empire Hotel

P: Endeavour Group





An investment por t folio comprising of four WA childcare assets

Four centres at varying stages of construction, all tenanted.

V: Jarra Property P: Dorado Property

$18.5 million (off-market)

LJ Hooker Commercial’s Jake Wallman

V: Far East Consortium P: Private local investor and a private investor from Hong Kong

Four retail lots as part of The Towers at Elizabeth Quay

Ray White Commercial’s Brett Wilkins and Phil Zioti

11 Barrack Street, Per th

$12.85 million

$8 million

211 Darch Road, Margaret River

47.12-hectare housing estate landholding

P: Goldfields

Knight Frank


The Property Development Review





CBRE’s Bruce Baker and Flint Davidson with Knight Frank’s Justin Bond and Paul Roberts

Comalco Place, 32 storeys in the city’s ‘golden triangle’, with 38,746sqm of A-grade NLA

V: Marquette Properties P: Dexus

12 Creek Street, Brisbane

$391 million

27-49 Browns Plains Road, Browns Plains

A half stake in Brisbane’s Grand Plaza shopping centre

V: Invesco P: EG

CBRE’s Simon Rooney

$220 million

CBRE’s Bruce Baker and Flint Davidson with Knight Frank’s Justin Bond and Paul Roberts

"The tower contains 24,904sqm of NLA, half of which is vacant, plus 185 car parks " 5,856sqm of GFA on a 1.766 Ha land area with 36 tenancies (four of which are vacant) anchored by Coles, plus an additional freestanding building rented to KFC.

V: Mercer P: Kumpulan Wang Persaraan (KWAP)

179 Turbot Street, Brisbane

$151 million

V: IJ Capital P: Local investment group

Benowa Gardens

$60.5 million

Savills’ Peter Tyson

CBRE’s Michael Hedger and Joe Tynan with Colliers’ James Wilson and Stewart Gilchrist

Fernvale Village, 1455 Brisbane Valley Highway

a 5,824sqm mall land area sitting on a 1.78 hectare site area with 221 car parks

$35.55 million


Approved permit for a 24-lot subdivision with sites between 500sqm and 7,000sqm

P: Clarence Property

731 Johnson Road, Heathwood

$30 million

Knight Frank’s Mark Clifford

Colliers’s Philip O’Dwyer and Sam Biggins in conjunction with JLL’s Nick Bandiera and Gary Hyland

V: Gordon Corp P: Home Co

159-177 Progress Road, Richlands 3.12 hectare commercial development site

$14 million

Colliers’ Brendan Hogan and Adam Rubie

199 Ashgrove Avenue & 18-20 Somme Street, Ashgrove

$13.66 million

Unique 2.62-hectare landholding

P: SKF Development

Ray White Commercial’s Michael Feltoe and Lachlan O’Keefe

$7.75 million (off-market)

V: Oz Prop Capital P: Victorian investor

Mountain View Marketplace, Kirwan The property features a Supa IGA and 11 specialty stores

V: Hakfoort Group P: Mathieson family

$7 million

Woolloongabba’s Redbrick Hotel

Historic 1890s pub sits on a 680sqm land

Savills’ Leon Alaban and Tony Bargwanna

A commercial building at Highgate Hill

Two freehold commercial buildings with a combined total of 742sqm

$3.2 million


Colliers’ Samuel Biggins and Tony Wang





19 Harris Street, Pyrmont

Seven-storey building with 12,649sqm of NLA V: Boston based AEW Capital P: Elanor Investors Group

$185 million

V: Leda Holdings P: ESR

$152 million (off-market)

Colliers’ Gavin Bishop, Trent Gallagher and Sean Thompson

270-286 Horsely Road, Milperra 7.71-hectare industrial property

2-10 Bay Street and 294-298 New South Head Road, Double Bay 129 Princes Highway, South Nowra

Permit for a four-storey project containing ground floor retail and basement parking

P: Fortis

$82 million

CBRE’s Ben Stewart

$65.3 million (off-market)

Brand-new Bunnings Nowra complex

P: Charter Hall

JLL’s Sam Hatcher and Nick Willis

A prominent 17,310sqm Bega centre with 15,327sqm of retail and 1,983sqm of office space

V: Woolworths Group P: Private investor

Sapphire Marketplace, Bega

$54.05 million

CBRE’s James Douglas

V: Mirvac P: Revelop

1 Dalgal Way, Forest Lodge

The Tramsheds complex

$52 million

JLL’s Nick Willis and Sam Hatcher

circa-1823 two storey pub is located at 11 Victoria Road and includes a renovated bistro, outdoor dining and sports bar with 30 electronic gambling machines A three-storey apartment block opposite Cronulla Beach 1.184-Ha site directly opposite Schofields Railway Station 1901 pub, located at 286 Princes Highway, Corrimal

HTL Property’s Daniel Dragicevich and Sam Handy

V: Pub Invest P: Warren Livingstone

Parramatta’s Rose & Crown Hotel

$42 million

Knight Frank’s Anthony Pirrottina and Demi Carigliano

67 Gerrale Street, Cronulla

P: Sammut Group

$38 million

Woolworths-anchored neighbourhood shopping centre in Schofields

V: Firmus Capital P: Private investor

$37.5 million (off-market)

Colliers’ Harry Bui and James Wilson

HTL Property’s Daniel Dragicevich and Sam Handy

Corrimal Hotel

V: Pub Invest

$32.5 million

100-104 Parraweena Road, Miranda The Thomas Blamey Tavern at Lake Albert

V: Stamford Capital P: Charter Hall

A renovated Telsa backed dealership

$29.8 million

6,110sqm property includes a bistro, function space and gaming room with 26 electronic gambling machines 57-Ha parcel of land, comprised of five adjoining lots, with plans for a house and land project 2,406sqm building with cold storage, and has been purchased by an owner-occupier pharmaceutical group

$27 million (off-market)

HTL Property’s Blake Edwards


$12.655 million

P: Multipart Property

Hunter Valley’s Huntingview


$8.2 million (off-market)

98 Long Street, Smithfield

V: Fab Fresh Bros

CBRE’s Janet Joljian and Elijah Shakir

$6.185 million (off-market)

596-598 Willoughby Road, Willoughby

A showroom and office building

X Commercial’s Alex Bennett


A visionary site for a visionary developer 236-262 East Boundary Road, East Bentleigh, Melbourne, Victoria



OVER 13,490 SQM *



Brighton Beach 8km

Melbourne CBD 14km

McKinnon Secondary College 1.5km

McKinnon Train Station 2.5km

McKinnon Secondary College East Campus

Duncan Mackinnon Reserve 350m

Ormond Train Station 2.0km

Guardian Childcare Centre

Virginia Park

Marlborough Street Reserve

GESAC and Bailey Reserve


Monash Health Moorabbin Hospital 1.5km

*Not included in sale Outlines Indicative

FOR SALE Via International Expressions of Interest closing Thursday 28th April 2022 at 2pm (AEST). East Village is a once in a generation, placemaking opportunity to deliver a precinct which will evolve East Bentleigh into a sustainable and dynamic neighbourhood.

Flexibility within the masterplan to cater to broad market segments

0-Star NABERS Energy Rating

Masterplanned Site Zoned Comprehensive Development Zone (CDZ2)

Substantial Landholding of 14ha*

New McKinnon Secondary College located on site

Net Holding Income of $5.91 million* per annum


John Marasco +61 412 211 033 Trent Hobart +61 433 196 452

Rob Joyes + 61 418 137 277 Rachael Clohesy +61 466 918 158

Walter Occhiuto +61 410 438 417 Andrew Dawkins +61 419 317 006

Tim Grant +61 478 666 275 Chris Jones +61 477 881 882


The Property Development Review

Gerry Ryan OAM Founder, Jayco Corporation The Interview

well as he has continually succeeds to maintain a competitive position in the caravan market, despite the economic climate. However Mr. Ryan is not one to focus on doom and gloom. “Out of every crisis comes opportunity.” He states “Opportunities are in all industries…. IT, online businesses, tourism, hospitality, building….we’re in industrial building and its busy…as soon as you put up a shed or a warehouse someone’s got a For Lease sign or it’s sold” He also talks of changes in the caravan market and how he maintains his 50%market share, most of it coming down to 4 important things; good relationships, good cashflow, innovation and efficiency. “Everyone is equal in an organisation and everyone has a part to play…you have to communicate.” He says. In parallel, Mr Ryan is always looking for efficiencies and how to save time and waste. “I still go down and check the waste bins out….we’ve got $8 million dollars worth of waste, if we can get that down to $4 million, I can then share the rewards with the staff. It’s important the awareness of efficiency, waste…and the biggest waste is time.” Mr Ryan also tells the story of his innovative reshuffling techniques within Jayco “The first meeting, a pair of scissors, I cut the reports up…no one reads them.” Egg timers were placed in meetings so talks were done in half the time. Chairs were taken out of the meeting rooms. But there was good reason for his actions; it was all to create an awareness in the company about unnecessary activity, efficiency and wasting time. Being a fast mover and surrounding himself with good people keeps breeding success for Gerry Ryan, not only within Jayco but also his plethora of business ventures which together generate in excess of $500 million p.a. In addition to being a 3-time Melbourne Cup winner and ‘growing fast horses’, Mr Ryan, together with his son Andrew Ryan revived the renowned Mitchelton Winery where they built a 58 room hotel, day spa, cafe and expansive indigenous art gallery on site. He is also founder of green edge cycling, a men and women’s UCI WorldTour cycling team and is Chairman of Global Creatures/Creature Technology; a company which is now the world’s best, award winning electronic manufacturer of its type. Despite living this busy, fulfilling life overflowing with success and activity, Gerry Ryan still loves to enjoy his weekends in his beloved Nagambie by the river and gumtrees. When asked what’s next on the cards, he contentedly answers “Enjoy what I’ve got, more importantly enjoy my grandchildren, spending time with them and doing special things.”

Gerry Ryan OAM on cutting up business reports, checking out factory waste, saving time and other secrets of entrepreneurial success. Gerry Ryan had a great start in life, rich with the important things that mattered; encouraging parents, 8 siblings and a free childhood in Bendigo jumping fences and checking out thoroughbreds at the jockey club. “We didn’t have a lot….but it was a lot of fun.” These beginnings together with his likeable down to earth nature and innate ambition, all set the foundations for a successful entrepreneurial journey ahead. His first business was selling newspapers at the age of 12 and despite being told school wasn’t his thing, nothing held him back. By the age of 22 Gerry Ryan joined Sunwagon Camper Trailers where he sprinted up the ranks within 6 months to production manager. It was here at this time that he made his connection with Jayco and struck up relationships that set him up for life. “People are your number 1 asset” Mr. Ryan states. And it also appears to be his number one secret to success. “Early days I learnt a lesson that it’s so important people in business. Not just the people in your business but also relationships outside your business. Your suppliers, your customers… and it's critical that you keep a good relationship because they’ll stick with you long term.” This fares him very


Watch our full video interviewwith Gerry Ryan OAM here


With Tamara Gross & Rob Langton

The Recent ‘Women in Property and Business’ podcast series featuring Director of Retail (Belle Property Commercial), Tamara Gross and Ready Media Group Managing Director Rob Langton aims to promote women in the business space. There was a need for a platform for women to connect and learn from each other. This idea became a reality as a small group of 6-8 women would alternate hosting a lunch together to connect and share ideas. The lunches gained great traction and grew quickly, resulting in the creation of quarterly boardroom lunches featuring different women from across the industry. With the concept being so successful, Tamara wanted to advance ‘Women in Property’ further. The pair joined forces in August and have interviewed various high-profile and extremely accomplished women across the business and property sector. GUESTS HAVE INCLUDED:

Sharing his thoughts on the podcast series so far, Ready Media Group’s managing Director Rob Langton said “I’ve been thrilled to work alongside Tamara to promote women in the property and business industry. The Podcasts are really insightful and I look forward to speaking to many more successful women in the industry in 2022”. Ms Gross stated, “The feedback has been overwhelming and I am so excited to continue the series with Ready Media in 2022 with already a great group of guests lined up.”

WIPB Cohost & Director of Retail Belle Property Tamara is an advocate for diversifying the Property Sector in Australia and constantly builds initiatives to support and advise talented fearless females.











The Property Development Review

Women In Property & Business

Patrica Ilhan Property Investor

These insights from Patricia Ilhan both inform and inspire. Her progressive thinking and values of a good education and financial independence have all enabled her to move through the business world with eyes wide open. As a result, she has enjoyed a satisfying personal career in addition to being active in the property market. In this interview Patricia also talks about her grounded upbringing, career beginnings at IBM and Telstra and the Australian Food Allergy Foundation which her late husband John Ilhan and herself set up together. Patricia is also now an advocate for mens health and shares great advice for both men and women about starting out in business today. Interview hosted by Tamara Gross.

Listen to the full interview now.


Emma Woodhouse Chief Operating Officer Salta Properties

Emma Woodhouse, COO (Chief Operating Officer) of Salta Properties talks us through her career progression in the construction industry and her many project highlights which include the Westin, Hotel Lindrum, Melbourne Connect and more. In this interview with Tamara Gross, she highlights the personal hurdles that many women encounter when moving into senior leadership roles, how to be ‘comfortable with the uncomfortable’ and why we need to have resilience, authenticity and a ring of clever people around us.

Listen to the full interview now.



The Interview

certain items like commodities are going to remain hot over the course of 2022 but these things move in cycles and 7.5% is not sustainable. A lot of this is also led to by supply imbalances which have been playing out….but as things come back and lockdowns hopefully are a thing of the past….we should normalise over the course of the next 6-12 months.” As most industries endure a natural evolution over time, so does real estate. Taking the office sector as an example, in the last decade our per capital space has been reducing. Contrary to what we may think about this sector heading for the fall due to recent hybrid working arrangements, Mr Bharara highlights that more office space may now be needed, but in a different format. This is because the way in which we work has now changed. Offices appear to be trending towards smaller collaboration spaces and break out rooms as opposed to the traditional set up of years ago where staff were seated more closely, with less choice of spaces within which to work. “Theres no linear impact from a reduction in what I’d call 'through the week occupancy’ because we might have the entire team in on a Wednesday or Thursday and you might need more space for that collaboration. There is a real estate evolution naturally and I think we will be going through another evolution of the use of real estate, but one thing thats going to stay constant are places like we’re in right now, in the heart of the CBD, prime great assets will remain very much in demand.” In regards to the Industrial and logistics sector, the next evolution Mr. Bharara talks of is increasing rents. “That Initial boom over the last few years was driven by declining cap rates. We’ve now moved into the next evolution of that boom which is increasing rents. Clients on the private side that own some logistics assets, they’ve said even for what was previously B-grade stock they’ve done value add projects on it and the rental increases have been very significant in the logistics space. There doesn’t seem anything at this stage which concerns us about lack of demand or asset values being impacted because the trend is just in a positive direction.” The retail sector also appears to be heading in the right direction with levels trending back to where we were 2019. “Its a critical part of the buying experience” states Mr. Bharara “…and omni-channel, a combination of physical and online, I think is here to stay and the good quality assets are going to do well.” In our interview, we further discuss REITS, funds management, build to rent and M&A’s, amongst other trends and investment assets. However in sum and broadly speaking, Australia appears to be in a strong position with our biggest challenge, other than managing interest rates and inflation, being the ability to satisfy the huge demand for our real estate assets across both the listed and private markets. “Australia is an extremely attractive destination (for global capital investment in real estate). You just have to look around and you’ve got… our legal system which stands up against the best in the world, it is a very, very attractive destination. And with things opening up you will find more capital flowing into Australia to try and pick up what is a scarce pool of assets.” 50'

Rahul Bharara Head of Real Estate

and MD of Credit Suisse Australia

Overlooking an unrivalled panoramic view from the Credit Suisse boardroom, Rahul Bharara shares his knowledge on the real estate market with a relaxed confidence and positivity that only someone with true insight can do. “The numbers speak for themselves.” Mr Bharara says “The economy is strong. When you look back at 2021, that was the anomaly. There was one straight line with the market going up and everything basically going up on the back of excess liquidity, interest rates etc. But if you look back historically every year is not like that. 2022 is going to be one of those years where high quality companies, certainty of income coupled with a natural inflation hedge, and a lot of real estate has that….. will actually really shine. It’s not going to be everything goes up in a uniform line, but the good quality ones certainly will.” Mr Bharara made macroeconomics sound so simple. Will recovery be this straight forward? Not quite. He talks about the ‘indigestion’ we need to get through first, interest rate rises being a key part of that. The level of impact these rises will have on the property market will of course depend on what the property asset it is and why exactly those interest rates are happening. Mr. Bharara continues to use New York apartments as an illustrative example. “There has been 20% rental in- creases and some reports are saying rents in New York are above where they were pre-pandemic. That’s obviously driven by supply demand but also by pretty significant inflation. So there will be a lot of pockets of real estate that can be inflation hedged in this environment. But I think if you’ve got earnings going up we think a lot of the real estate will still keep doing well once we get through that initial ‘indigestion’.” On the very morning of our interview with Mr. Bharara, inflation was yet again in the spotlight as the US had just published their annualised inflation rate of 7.5%. "Inflation is running hot globally … in certain markets off shore, far hotter than what we’re seeing in Australia. I do think

Watch our full video interviewwith Rahul Bharara here


The Property Development Review

Leigh Jasper Entrepreneur & CEO Saniel Ventures co-founder of Aconex The Interview

solve many common construction management problems and despite a few macroeconomic setbacks and expected hurdles along the way, Aconex's growth was steadily flourishing by 2002. “We were selling an internet based service when most people connected to the internet via dial up modem. If you were lucky you had ADSL” States Mr. Jasper. “Some of our customers still didn’t have computers on site so when you’re trying to sell an internet based system when they don’t have computers its a little tough” Good integration and change management was a key factor in overcoming this hurdle with a large part of that success being attributable to having the right people for each stage of the business together with a great company culture. Aconex had a unique culture and Mr. Jasper’s relaxed friendly demeanour was exemplary of this and how a company’s positive attitude and success is truly fed from the top down. “It was an extension of how we wanted to work together.” States Mr. Jasper “Giving people a chance to try things and we expected people to do things differently, we knew we’d all make mistakes, we were making mistakes … but learning from these mistakes and moving on and growing and a can-do attitude. We maintained through the rest of the journey a low key relaxed culture, not much hierarchy in the business. Once we had this culture, we then set about protecting it and nurturing it." In 2014 Aconex was listed on the stock exchange and 3 years later, Oracle, the worlds second largest software company in the world made an offer Leigh and Rob couldn’t refuse. Acting in shareholders best interest, it was sold for a profitable 1.6 billion dollars. “Personally I wasn’t looking to sell the business, I was very happy doing what I was doing, the business was growing well but we were a listed company and Oracle, after a couple times of saying no, eventually they put a price to us that we couldn’t say no to and we felt we had an obliga- tion to our shareholders to act in their interests” The skills and expertise Mr Jasper gained through building Aconex are now being brought into other companies that are all generating similar growth. He has reinvested funds from the sale back into the Australian technology industry and into high growth businesses where he intends to remain an active investor. Most of all however and spoken like a true entrepreneur, he seems to be fully enjoying the journey… “I’m a business builder, that’s what I’ve enjoyed most of all over my career, is putting the pieces together to build a business. Some people like building cars or motorbikes or houses …. for me it's putting the pieces together to build a business. That’s what gets me excited and gets me up out of bed every morning. It’s something I find a lot of fun and motivating, to be able to help companies and founders build great companies.”

Take 2 savvy school boys with the smarts, an innate ambition, and there you have the formula for what became a multi billion dollar journey for Leigh Jasper and his partner Rob Phillpot. Leigh Jasper is CEO of Saniel Ventures and co-founder of Aconex, the world’s most widely used cloud collaboration platform for construction, engineering and infrastructure projects. He is also on the board of SEEK Ltd, Salta Properties, Launch Victoria, Second Quarter Ventures and the Burnet Institute. Leigh grew up in Rutherglen in country Victoria and attended Scotch College boarding school where he met his to-be business partner, Rob. He went on to excel in management and consulting with McKinsey & Co. while Rob was at Multiplex, however together they generated a fruitful idea that would not only benefit them financially but also the construction industry as a whole. This was the birth of Aconex, the construction management and collaboration platform that changed the way businesses operated. “We thought there was opportunity to use the internet to change the way construction happened and to really eliminate all of that hard copy information that at the time was so difficult to manage in the industry.” States Mr. Jasper. In 1998-2000, soon after the .com internet wave hit, many businesses were exploring what the internet could do for their businesses. It was at this time that Leigh and Rob collaborated and raised their initial $1.8million from family and friends for their own start up in the tech industry, later known as Aconex. “In hindsight we didn’t realise how lucky we were to be able to raise those funds…we were 2 guys with a business plan” Aconex was launched in 2001 with systems that streamlined tedious tasks and processes and automated them. Technology was applied to


Watch our full video interviewwith Leigh Jasper here



Suncorp Bank has partnered with Ready Media Group, owner of CommercialReady and DevelopmentReady, in an advertising campaign that will set them in front of more than 48,000 investors and developers. Similar campaigns in the past have been seen to generate extraordinary results with a substantial increase in the value of their mandates due to direct exposure to the CommercialReady and DevelopmentReady audience. Suncorp Bank is the banking arm of Suncorp Group, the country’s largest finance and Insurance company and owner of AAMI, GIO, Apia, Bingle and Vero amongst others. They are renowned for their competitive rates, excellence in swift customer service and lending products tailored towards property developers and commercial investors. “The cross over with relevance to our audiences made sense to both parties and we look forward to strengthening our relationship with Suncorp through this collaboration” states Michael Bevilaqua, State Manager for Ready Media Group. CommercialReady and DevelopmentReady are the most targeted commercial investment and property development listing platforms in Australia with a database of over 48k investors and developers. They have grown almost 6-fold over the last 3 years due to the strong demand for their cutting edge creative services and innovative prop-tech, making them leader in this field for the commercial and property development space. There is no doubt this partnership will continue to drive Suncorp Bank’s success. They have already been awarded Business Bank of the Year for value and service for the past 4 years in the Money Magazine awards, so this, with their customer focused strategy in place, is only expected to take them from success to success. “We have a Relationship Manager and Assistant Relationship Manager model dedicated to each portfolio, so clients are speaking to the same person when they pick up the phone. This differs to other models where clients end up feeling like just a number.” States Mr. Michael Habashi, Commercial Relationship Manager at Suncorp. In January, Suncorp Bank on-boarded a new EGM Business Banking, Dean Cleland, who is also driving the business through continual growth. “Transparency and speed to market is a key thing. A loan approval that traditionally takes up to Ready Media Group and Suncorp seal the deal.

30-60 days, in some cases, we can gain approval within 14 days, subject to all requested information being provided.” This is great news for investors who in most cases require an agile lender with quick turnaround times. With regards to industry trends and the level of mandates going through Suncorp Bank, Mr Habashi also notes a strong demand for essential services. “I’m seeing a lot more activity in the commercial property space mainly around childcare investment, services stations, supermarket investment because people are trying to look for safer assets that are somewhat recession proof. And a lot of people are looking out to regional commercial asset investments with the change in work-from-home arrangements. Obviously metro Melbourne is still in demand but overall, the essential services sector is where we’re seeing a lot of interest in.” With borders opening up and the demand for Australian assets increasing, lenders like Suncorp are now perfectly positioned in the eyes of those investors and developers who need the capital to invest in what is just one of the high demand sectors in our country

For further enquiries contact: Michael Habashi - 0437 733 473

Suncorp Group offers insurance, banking and wealth products and services through some of Australia’s and New Zealand’s most recognisable financial brands.


The Property Development Review


Massive Assets Sell at Burgess Rawson’s 150th Portfolio Auction

for freehold investments leased to The Good Guys. The Tasman Butchers, Oakleigh South sold for $5.7m (21% above the reserve).

Seven bidders kept going, well after the property went above the reserve, with the knockout blow coming with a $100,000 jump from the successful buyer based in Dandenong South. Ingrid Filmer, Burgess Rawson CEO and Managing Partner, said: “The most

Thirty-two commercial properties sold for a combined $134 million at Burgess Rawson’s 150th Portfolio Auction in Sydney, Melbourne and Brisbane, representing a strong start to the year for the market. The auctions on three successive days in late February heralded the welcome return of face-to-face bidding and no density limits. The 32 sales sold, represented a 78% clearance rate. The portfolio auctions gathered over 3,000 enquiries collectively, whilst 279 registered bidders were hungry to get their hands on the prized assets. The auctions had demand outstripping supply 9:1 and will produce a blended yield of 5.03%. Sydney: Held at the iconic Sydney Opera House, the opening day of Portfolio 150 had eight properties transact either prior to auction or under the hammer on the day, leading to $39.6mworth of assets selling. The 40 people in attendance also faced fierce online bidding. Many investors have clearly become accustomed to online bidding during the pandemic with three of the successful eight buyers being online. Six registered bidders battled it out for the Liquorland | BOQ, Tamworth, which ended up selling under the hammer for $3.12m, representing a 5% yield. The Busy Bees Pre-school, Picton, recorded a great result, transacting for $3.29m on a 4% yield. Associate Director at Burgess Rawson in Sydney, Michael Vanstone, highlighted that “The Busy Bees Preschool was an exceptional result, sub 5% and 10% above expectations. "The buyer of this property had been missing out on other Burgess Rawson childcare properties in the last six months. Although there was still solid participation from phone and online bidders, 42% of the bidders and most of the successful buyers were present in our rooms." Melbourne: Hosted at Melbourne’s Crown Casino, Day 2 of Portfolio 150 saw 19 properties sell for a combined value of $74.5m. The Melbourne office achieve a record blended yield of 4.51%, and saw 12 properties sell for sub-5% yields. Of those, five of the 12 were on sub-4% yields. Notable highlights fromDay 2 included The Good Guys, Mildura transacting for $4.2m (3.75% yield), achieving a new record yield

competitive bidding was between buyers in the room after David Scholes (Burgess Rawson Auctioneer) had declared the vendor’s reserve had been reached ... the urgency heightened. “In the case of the Oakleigh warehouse leased by Tasman Butchers, seven bidders were still going above the declared reserve, so it made for a very entertaining spectacle.” National Tiles, Sunshine saw a bidding marathon as 53 bids were placed from two bidders, resulting in a $5.38m sale (3.73% yield). The Goulburn Valley Imaging (Graham), Shepparton was placed on the market after the very first bid! The highly sought-after asset had 35 registered bidders and sold 40% above the reserve for $1.465m to a Caulfield-based buyer, whilst the under-bidder was bidding on a beach in Hervey Bay. Reflecting on the atmosphere of Day 2, National Partner at Burgess Rawson Billy Holderhead, said: “After so long in lockdown- hibernation, remote auctions (dominated by online and phone bidding) were becoming the norm; so it was brilliant to see a queue of investors at our auction rooms at Crown Casino.” Brisbane:

The third and final day of the portfolio closed out in style as five commercial assets successfully found new owners. Held at the Hilton Hotel in Brisbane, $19.9mworth of property had transacted throughout the day, representing an 83% clearance rate.

Located close the water on the Gold Coast, Haymans Electrical, Currumbin Waters attracted six registered bidders and sold to a local buyer for $1.908m, achieving a 4.46% yield. Another asset on the Gold Coast, this time a Medical Centre with four tenants located on Gold Coast Highway in Mermaid Beach, ended up transacting for $6.125m, on a 4.98% yield.

To see all the results fromPortfolio 150, visit AuctionHub


Market Overview - NSW

Adam Leacy Partner, Commercial Collective

Q. What were the key market trends occurring throughout 2021 in your region? A. Strong growth across commercial, industrial and lifestyle sectors. Yields tightened as a result of the amount of capital being deployed into the region both domestically and commercially. Q. What have been the fundamental drivers of demand amongst buyers in the last twelve months? A. A combination of low interest rates and the fact that many buyers are cash buyers. Furthermore, throughout the pandemic the region has been viewed as a safe haven which has placed a higher demand across the market. Q. Reflecting on recent transactions, what has been the profile of buyers and has this shifted from previous years? A. In line with the aforementioned, there has been a big increase in out of area buyers entering the market, which has shifted from past years. Q. What types of sites are most in-demand given the current strong residential housing market? A. Tier 1 development sites, still in very high demand. Q. How would evaluate the impact of the past eighteen months in your local market? A. Our market has well and truly strengthened. Yields have tightened and although vacancy rates have increased as result of new supply and tenants chasing the flight to quality, we have seen strong growth in the 300sqm-700sqm leasing market which caters for medium-sized businesses. The local firms are growing and we are starting to field more enquires from Sydney based firms seeking to expand into the region.

Q. What are your expectations for the commercial property market over the next twelve months? A. To remain strong whilst ever the market is stimulated by the heavy weight of capital entering the region. Q. Talk us through the most significant deals you have transacted in the last twelve months. Instead of significant deals and to provide a more holistic overview on capital entering the region, Commercial Collective transacted over $260,000,000 in sales over the past 12 months and negotiated a total combined Year 1 rental of over $13,300,000.




Property Listings



Property Listings


The Property Development Review


Property Listings



Property Listings


The Property Development Review



Croydon Park , 48 & 50 Wentworth Street

AUCTION Saturday 26 March 2022, On Site at 12.15pm Inspect Wednesday & Saturday 9.30am - 10.00am

Peter Kotzias 0419 440 450

Weijing Zhu (Julie) 0401 229 458

Rare opportunity two freestanding homes TO BE SOLD IN ONE LINE with potential development R3 Zoning Medium Density. No. 48 on 455sqm (approx.) 3 bedroom cottage and No. 50 on 683sqm (approx.) 4 bedroom cottage with total land size 1131.8sqm (approx.) and exceptional large 25m (approx.) frontage to a quiet residential sort after street. Located walking distance to Croydon Park shops and train station and within 10 kilometers from the City CBD. Currently both leased and suit developers/builders with holding income whilst you plan your next exciting development.


Property Listings


NSW, Blacktown: 70-72 Richmond Road Auction

DA & CC Approved Multi-dwelling site

− 6 townhouses, 3 villas + a fully restored heritage house − Council contributions paid

− Significant site area of 2,120sqm* − Zoned R2-low density residential

Public auction via AuctionWORKS on 12th April, 2022 at 10:30am

0434 675 724 Lord Darkoh 0402 270 888 Raymond Ahsan

0400 523 523 Alex Mirzaian

*Approximate- Outline & Labels Indicative

NSW, Blacktown: 9 Second Avenue Auction

Mixed use development site

− B4-Mixed Use zoning | 64m* height limit − Land area: 991sqm* − Leased to Disability Services Australia − Potential for shop-top housing, medical, childcare, hotel etc.

Auction on Tuesday, 22nd of March 2022

0400 523 523 Alex Mirzaian 0402 270 888 Raymond Ahsan

0434 675 724 Lord Darkoh



Property Listings


The Property Development Review

NSW, Castle Hill: 1-3 Sexton Ave, 40-52 Fishburn Cres & 103-109 Showground Rd, Castle Hill EOI

Large scale high-density development opportunity

Outline Indicative

– Total of 11 residential dwellings – Total GFA: 28,011sqm* | Total land area: 11,676sqm* – R4 High Density Residential Zoning

– FSR: 2.3:1 - 2.7:1 – Height of Building: 21m - 27m – Within the Showground Road Station Precinct

Expressions of Interest closing 24 March 2022 at 3:00pm.

0400 523 523 Alex Mirzaian

0422 206 015 Ben Wicks


Property Listings


NSW, Leppington: 33 Park Road Auction

− Significant land holding of 20,200sqm* (2.02ha*) − R2 Low Density Residential Zoning & potential to yield 33 residential dwellings − Compliant CDC application and concepts − Fully serviced DA approval pending Raw residential dev site

Public auction on 13th April 2022 at 1:00pm at CBRE Western Sydney

0432 082 628 Andrew Sukkar 0420 412 047 Leo Guzman

0400 523 523 Alex Mirzaian

Outline indicative only

*Approximate- Outline & Labels Indicative

Approved Industrial Subdivision 60 Tringa Street, Tweed Heads NSW

Key Features:

▪ 15.71Ha site zoned General Industrial (IN1) ▪ Approved Development consent and construction certificate issued for 37 industrial lot subdivision. ▪ Strategic location within 1 minute from M1 Motorway northbound and south bound ingress and egress. ▪ Gold Coast International Airport 1 minute Drive. ▪ High demand for employment land with limited future supply. ▪ Ripe and ready for development. Expressions Of Interest (EOI)


Closing date for offers to purchase 12pm noon Thursday 31 st March 2022.

Information memorandum available at request. Please contact exclusive selling agents Towers Francis Property.

Chris Towers 0414 298 292

James Francis 0409 904 925

Craig Norrie 0487 343 407


Property Listings


The Property Development Review


Property Listings


Accelerating success.

Iconic Parramatta Development Opportunity For Sale

Outlines indicative only

Outlines indicative only

8-14 Great Western Highway, Parramatta EOI closing on 31 March 2022 at 12pm (AEDT)

+61 418 230 792 John McCann +61 419 018 356 Frank Oliveri +61 414 483 247 Joe Sacco

B4 Mixed Use Zoning 

Potential for GFA of 39,138sqm* 

Potential for minimum FSR of 16.42:1 

Potential for building height of 243 metres 

2,386 sqm block* 

* Approx.


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