Dave Penfold

These are always difficult properties to value, the partly completed ones with no occupancy certificate and substantial work to complete. It is hard as the valuer to find sufficient nearby, recent comparable sales to support the adopted value. I really feel for the poor home owners in these situations who face substantial losses when they sell. It is becoming a more common issue currently when the builder goes broke and the owner is left with a partly completed building project. Any thoughts? As always please be respectful, inclusive and polite to others. This is for the purpose of encouraging discussion and I am not advocating a particular position. https://lnkd.in/g_CzSz-e

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An interesting chart of where Buyers are from who purchase in Byron Bay.

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Family office purchases landmark Melbourne property - Cushman & Wakefield & Gross Waddell ICR Melbourne Metro commercial property, 1 Dean Street, Moonee Ponds sold by Cushman & Wakefield’s Daniel Wolman, Oliver Hay, Leon Ma, and negotiated by Gross Waddell ICR’s Raff De Luise. This acquisition marks a significant milestone, setting a precedent that has generated substantial interest among investors and ignited a wave of new investment mandates. The sale, managed through a highly competitive off-market Invite Only Expressions of Interest process, saw several groups vying for this exceptional property. Ultimately, the High Net Wealth family's decisive and unconditional purchase underscored their confidence in the asset, which attracted significant attention due to its strategic location and potential for future development. Daniel Wolman, Cushman & Wakefield’s International Director & Co-Head Investment Sales, VIC said: "1 Dean Street stands out as one of the few large commercial assets in Melbourne’s Northern precinct, offering sustained cash flow and strong future value-add potential. The considerable interest from numerous groups highlights the robust investor appetite for similar assets, indicating a positive trend for future capital deployment in Melbourne” Read more on COMMO - https://lnkd.in/gKuffmiA Cushman & Wakefield Daniel Wolman Oliver Hay Leon Ma Gross Waddell ICR Raff De Luise Anthony Kirwan Ariel Lu Brittany Delahoy Cameron Zamora George Davies Hamish Burgess Joe Kairouz Josh Andrade Marcus Neill Raphael Favas Andrew Greenway Alex Ham Michael Gross Barry Novy OAM Marney Post Charter Hall Robert Seymour Sean McMahon Fiona Denison #melbre #melbourne #cushmanandwakefield #grosswaddellicr #commercialinvestment #development #landmarkinvestment #landmarksold #melbournerealestate #office #officebuilding #charterhall

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Gross Waddell ICR Announces Landmark Sale of 1 Dean Street, Moonee Ponds We are thrilled to announce the successful sale of 1 Dean Street, Moonee Ponds, marking the largest Melbourne Metro office sale of 2024 YTD. This record-breaking deal was expertly negotiated by our Sales Director, Raff De Luise, and marketed in collaboration with Cushman & Wakefield. This acquisition marks a significant milestone, setting a precedent that has generated substantial interest among investors and ignited a wave of new investment mandates. Raff stated, “The buyer's unconditional purchase without a due diligence period reinforces the strong demand and promising outlook for the Melbourne commercial property market. This strategic acquisition not only represents a steady income stream but also provides ample time for planning future value-add opportunities. The continuing favourable exchange rates and confidence in land rich assets on the fringes of major cities are driving the deployment of Asian capital into Australia.” Read the full article: https://lnkd.in/gKuffmiA Raff De Luise Michael Gross Andrew Waddell Danny Clark Mark Coster Andrew Greenway Alex Ham Raoul Salter OAM Julian Materia Tony Aarons Glenn Ye 叶格林 Barry Novy OAM #GrossWaddellICR #RealEstate #Melbourne #CommercialProperty #Investment #MooneePonds #RecordSale #PropertyMarket #PropertyInvestment #OfficeSpace #AsianInvestment #LandRichAssets #StrategicAcquisition #InvestmentOpportunity #MelbourneMetro

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Indigenous Perspectives delve into the rich cultural legacy of the First Nations peoples, whose contributions to the city's identity and development often remain uncelebrated. Meanwhile, Environmental Conservation Efforts underscore the tireless work of individuals and organisations committed to preserving the Gold Coast's natural splendor, safeguarding precious habitats and wildlife. As the Gold Coast undergoes Economic Transformation, stories emerge of innovation, entrepreneurship, and diversification propelling the city beyond its traditional economic pillars, ushering in new opportunities and prosperity for all. These untold stories not only enrich our understanding of the city's past but also inspire us to shape a more inclusive, resilient, and sustainable future for generations to come. #BuyGC #BuyersAgent #GoldCoastUntold #CityStories

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Interesting article discussing the difference in Capital Gains between units and detached houses. Housing is a complicated topic with so many factors and issues affecting supply, demand and price/rents. As the article points out Sydney is landlocked between National Parks/waterways to the north/east/west/south which limits urban sprawl and future supply of land releases. Added to this is the risk with many high density unit complexes now identifying significant defects and the high cost to repair these which further reduce Capital Gains for units in general. Any thoughts? As always please be respectful, inclusive and polite to others. This is for the purpose of encouraging discussion and I am not advocating a particular position. https://lnkd.in/g4bjKUeH

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It has been 10 years since we worked on our first Orchard Piper project. We value our long term relationships with clients collaborating to ensure best outcomes for purchasers placing relationships over the transaction. #consciouscorporate #doingbusinessdifferently #qualitydevelopments #lovemyjob #happypurchasers #property #apartmentliving

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In Episode 3 of Sentinel Property Group CEO, Warren Ebert's, interview with Catherine Cashmore's Land Cycle Investor, he delves into the Office market and shares his view on whether the sector has hit its price floor. Warren challenges the idea that a 20% discount signifies the market bottom and provides examples of significant discounts in current property prices compared to previous sales. He highlights a building that went from a 6.75% to over 8% discount within a year and another property that dropped from $120 million to under $80 million. “At the current price it is very good buying”, he said. Furthermore, Warren emphasises the importance of using comparable evidence in property valuations, especially during market downturns. He explains the timeline from listing a property to its settlement, noting that the sales data used by valuers could be up to 6 months old. Watch video here: https://lnkd.in/eFfjbY-N #SentinelPropertyGroup #WarrenEbert #LandCycleInvestor #OfficeMarket #PriceFloor #PropertyDiscounts #MarketAdjustments #ValuationEvidence #MarketDownturns #PropertySettlement #RealEstateInsights #MarketAnalysis #PropertyInvesting #PropertyValuations #REIT #CommercialProperty #Investment

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Greystar celebrates grand opening of first Australian build-to-rent development Greystar has officially opened its doors to Australian residents with its first Build-To-Rent (BTR) project, The Gladstone. One of Australia’s largest Build-To-Rent projects to date, the completed $500 million residential development brings an additional 700 quality rental homes to the bustling hub of South Melbourne. “Australian renters have been limited in their access to quality, fit-for-purpose homes for too long. The Gladstone’s opening marks Greystar’s first major milestone in changing this reality,” says Matt Woodland, Managing Director at Greystar Australia. “The Gladstone will provide Victorians with 700 homes specifically designed for renters, fulfilling a crucial gap in the current housing market. As one of the world’s largest operators of Build-To-Rent apartments, we’re excited to bring world-class expertise and an unrivalled living experience.” “The Gladstone marks a significant milestone in Greystar’s legacy as our first official operation on Australian soil.” says Bob Faith, CEO at Greystar. “We have always been passionate about investing in and providing quality housing in the great cities of the world, and are now proud to call Melbourne one of Greystar’s newest homes.” Read more on The ASEAN Developer - https://lnkd.in/gteFUtnK Bob Faith Wes Fuller Sean Ryan Theodore Berney Andrew Krause Oliver Neoh Bernadette Chai Bronwyn Rayner Liam Riley Christopher Tan Grant Wong-See #BTR #melbournebtr #Greystar #melbournedevelopment #development #btrdevelopment #buildtorent #multifamily #realestatenews #realestatemarket #melbre #melbournerealestate #realestatedeveloper

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The Apartment Design Guide provides planning and design standards for apartments across NSW. Our recent article discusses a case where the Court considered an appeal for a refused development application of a residential building in Sydney’s CBD. The development application was refused in light of the Apartment Design Guide's solar regulations, however, the Court looked to consider the overall objectives of the guide. Click the link to read more. #propertylaw #apartmentdesignguide #sydneycbd #solarregulations

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New Episode Alert – Lee Dahill speaks to Mario Carruzzo 🎙️ Join host Lee Dahill in this enlightening episode of the Property Podcast Today - featuring Mario, Founder & CEO of Caridon, a leading property agency. 🌟 In this episode, Mario shares his remarkable journey in the property industry, beginning his adventure at the young age of 11 when he first attended property auction. He reflects on how he has thus far navigated the challenges posed by economic downturns, including the significant crash of 2008. 📉 Topics they explore are: ✅ Insights for landlords in today’s market ✅ The importance of adding value to investments ✅ Strategies for navigating economic challenges ✅ The transformative power of property for vulnerable individuals ✅ Lessons learned from both successes and setbacks Don’t miss out on this opportunity to gain valuable advice and inspiration from someone who has experienced the highs and lows of the property world! 👉 Tune in now: https://lnkd.in/dz3j9qxR #PropertyPodcast #Property #Caridon #MarketInsights #LandlordTips

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In this video, we delve into everything you need to know about Fairlight, a charming harbor suburb nestled in Sydney's Northern Beaches. From its picturesque coastal views to its vibrant community atmosphere, we explore the essence of Fairlight, highlighting local amenities, lifestyle, and real estate insights. Whether you're considering moving to the area or simply curious about its unique appeal, join us as we uncover what makes Fairlight a coveted destination for residents and visitors alike. DM me if you have any specific question about this charming harbor suburb. #propertybuyingtips #suburbprofile #northernbeaches #northernbeachesproperty #buyeragent #livinginsydney

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Is your property law practice ready for Queensland’s latest rental law reforms? With critical changes affecting investors, owners, buyers, and sellers, staying informed is essential. Next Wednesday, 6 November, benefit from information on the new rent bidding bans, revised maximum rent in advance rules, and the upcoming adjustments to re-letting costs and utility bills. Read more and sign up: https://lnkd.in/gRe6M4bQ Produced by: Leah Boyle Experts include: Emile McPhee #rent #tenancylaw #qld #propertylaw #law #cpd

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This is the median dwelling value, which includes both houses and units. It differs from the median house price.

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