Brisbane, Australia (PressExposure) January 21, 2015 -- A development site offering the potential to become the first multi-level residential apartment project in an important corridor of Brisbane's south-west has hit the market in Oxley.
The property is located at 93-95 Ellen Street in Oxley and consists of 1292 square metres of development land.
Selling agent, Paul Liddy of Ray White East Brisbane said the property benefited from recent zoning changes enacted under the Brisbane City Plan.
"The new Brisbane City plan 2014 is in response to increased population growth, allowing for a liberal development mix based on what is suitable for the area," he said.
"This site provides the opportunity for an astute developer to build one of the first residential apartment buildings in Oxley and thereby corner the market in this pocket of Brisbane's south-west."
Mr Liddy said the property is zoned District Centre 1 (DC1) under the Brisbane City Council's new planning scheme and it enjoys considerable active frontage to Ellen Street and the adjoining rail overpass.
"It's a simpler planning system that encourages development, allowing flexibility in certain precincts to increase density or development without putting a blanket over the whole city or limiting individual suburbs or precincts.
Importantly for prospective buyers, the new DC1 zoning allows for a number of mixed use activities on the site. This includes: retail, commercial, offices, residential, administrative and health services, community-based infrastructure, small-scale recreational and entertainment facilities.
It is estimated that the development site could cater for up to 34, two bedroom units based upon the new district zoning provisions that allow for developments to reach up to five storeys in height dependent upon land size and proximity to other buildings.
According to Mr Liddy, the property offers scope for a mixed use development that could include commercial shops on ground level and apartments above.
The property enjoys exceptional retail amenity as it is located within 150 metres of the Oxley Central neighbourhood shopping centre, recently acquired by Folkestone Ltd for about $35 million.
Further adding to the residential development potential of the site, the property has significant transport linkages including immediate access to the Oxley TRANSlink station and close proximity to the Ipswich Motorway in addition to numerous parks and school facilities.
The property is for sale by public tender with offers closing at 4pm on February 10. Expectations are around $1,000,000.
- 93-95 Ellen Street, Oxley
- Sale by public tender, closing 4pm February 10, 2015
- Listing agent: Paul Liddy, Ray White East Brisbane Phone: 0431 643 010
- Site area 1292m2
- Zoned District Centre 1 (DC1)
- Site falls within the Oxley Centre Precinct - NPP-002 of the Darra-Oxley District Neighbourhood plan, more specifically the Oxley Suburban Centre Sub-precinct - NPP-002A
- 2 Lots (758 + 534m2) on one title with a gross holding income of $1538 p.c.m.
- 150m from Oxley Central, Woolworths, Australia Post and TRANSlink
- Easy access to major arterial roads including the Ipswich Motorway via Oxley Rd
- Further information and images: [http://goo.gl/qWXwnQ]
About Ray White East Brisbane
By way of brief background; having completed my senior education in 1981, I was fortunate enough to secure a position at what was then known as Ray White Richard Ellis, working as personal assistant to Paul and Brian White in their corporate office. It was an incredibly good opportunity, and there could be no better platform for anyone entering the property industry.
Apart from the opportunity to work very closely with Brian, Paul and their father, Alan White, the place was a breeding ground for property people and many of the now major development players in the Brisbane CBD, Industrial and Residential markets were also a part of that group and remain close friends and associates.
With the support and encouragement of the White family, I soon began residential sales at Ray White Sunnybank at the age of 18 (Ray White's first 'cadet') and just prior to turning 20, as a fully qualified Licensed Auctioneer and recognised sales achiever, was invited by two of the directors of Richard Ellis to join them and become a partner in a new franchise business- Ray White South Brisbane.
Within its first year and from 0% market share, RWSB became a major office and ranked among the top 5 nationally in the Ray White Group. As an Auctioneer I was recognised within the group with the "Ray White Auctioneer of Excellence Award" and appointed Chief Auctioneer for Richard Ellis (now CBRE). As a consultant Auctioneer I continue to act for many of the major Commercial and Residential Real Estate groups, as well as the State Government and numerous charitable organisations.
In 1990, I saw the opportunity for a boutique office in the New Farm market place and Ray White New Farm was born. Cottage prices were around $50,000, and would you believe I sold a 36 perch Riverfront for $164,000.
Ray White New Farm was a testament to 'biggest isn't always best' and, as well as being a highly profitable boutique business, went on to become the Top Property Management office in the state.
In 2000, Andrew Clough, owner of the Professionals New Farm, (as well as my sons stepfather) and I merged our rental portfolios and I took the opportunity to spend several years for travel and adventure.
Apart from having spent my entire working life married to a seven day a week business, the primary reason behind my stepping back from the business was that I had become very disillusioned with many facets of the Industry. Competition was intensifying with an influx of poorly regulated agents and I didn't agree with the way the industry was heading. I had quickly realised that if you weren't prepared to partake in common practices such as buying listings at the expense of the owners best interests and other somewhat dubious "vendor education processes" you were going to be left behind.
Several years of travel and adventure left me refreshed but heading towards a cash flow crisis and it was inevitable that I return to the only industry I knew. Still not prepared to compromise my principals in an attempt to compete with the masses, I decided it was time for a new approach, and under the umbrella of Professionals New Farm I established Priority Services. As opposed to being a salesperson, I wanted to be considered a consultant, and therefore have consultancy based relationships with select clients built on integrity, trust, and service. Sounds a bit corny however the concept was obviously well overdue.
The fundamentals on which I operate are simple, I will only take on a property if:
1. It is an existing client or referral, with that comes absolute honesty and trust - both ways.
2. I genuinely like the property (and seller) and could enthusiastically recommend it to any of my clients, family or friends
3. Owner's expectations are realistic and everybody wins.
4. I can do my clients, and their property justice, and the result solves their problem.
I am selective about the style and quality of the property I want to represent and refuse many more properties than I take on. It's also very important to me that the owners and I genuinely like and respect each other. The focus is on minimal listings and maximum service so I prefer to be controlling no more than four properties at any one time, ensuring my vendor gets just that - Priority Service.
One of the biggest challenges for the residential property sales industry is that selling any property is a pretty simple process, particularly over the last few years. Any idiot could do it, and in fact they do - every day, across the nation, countless Real Estate Agents poorly market and consequently undersell properties for owners that are frustrated, vulnerable and often miss-informed. Sadly, many offers are recommended to owners by agents simply for the sake of getting a commission, recuperating costs or thru sheer ignorance.
Typically Real Estate salespeople are their own worst enemy and its common practice for individuals to attempt to list and "market" 20 - 30 properties at once. Complaints of agents over promising and under delivering are well warranted! I have no personal assistants or associates, all dealings with owners and prospective purchasers are directly with me. My client communication is via an email bulletin that goes out regularly to my personal database of just under 4,500.
Whilst not wanting to make it sound like I have split the atom, I like to think I do things differently and have built my consultancy on;
- Totally Fair and Open, consultancy type relationships with all buyers and sellers - no lies, no tricks, no miss-information. My job is about solving my client's problems, not selling houses and apartments.
- The strength of my database and the credibility of my email bulletins. Within excess of 4000 email addresses, 82% of the transactions I do, at an average contract price of just under $2 million, come directly off my existing database. As an example, for a property I marketed and sold at auction for around $3 million, 26 of the 72 enquiries, and 3 of the 6 registered bidders came directly from my database. These results are often typical
- Innovative and cost effective marketing campaigns featuring an initial soft launch incorporating canvassing my database, personal approaches, electronic media and local agent support followed by bold, effective media campaigns strategically focused at the target demographic only when necessary.
- Selective listing with a long term strategy. Regrettably, industry attitudes, from the corporate level down, are still that "he who has the most listings wins". It's a "list anything and hope for the best" scenario and sadly the business, for agents in general, has become a numbers game. The thinking seems to be;
More listings = more sales = more commission + advertising = more enquiries = more space = more salespeople = more listings = more sales = more commission + advertising = more enquiries = more space = more salespeople = more listings....
With very little regard for those that fall into the "too hard" basket. It's a vicious circle and vendors are often justified in their cautious to distrusting attitude towards the industry, particularly with the promises, or at least inferences, of results and the prolific mail-out canvassing and telemarketing most undertake.
As a matter of principal, I will not advertise or canvas for listings or appraisal opportunities in any format whatsoever.
Competition amongst agents to secure a listing in this manner can't be conducive to the best possible advice/result for a seller - or the environment! Fortunately with the support of my client base I have no need too.
What's more; I think agents are inviting themselves to be offered an appointment at a discounted level of remuneration - whether that be by subsidising advertising or a reduced commission. The real impact is that this then creates a poor foundation for any ensuing business relationship between seller and agent. From the outset, it's certainly not a win - win!
It's a likely scenario that if an agent has invested funds into securing an appointment - be it by extensive canvassing campaigns, subsidising advertising or discounting fees, when it comes to final negotiations it's highly unlikely that said agent will have only the seller's best interest in mind. The reality is they need to recuperate those expenses "at any cost".
Establishing myself in the inner city market and selectively choosing to only take on quality properties that I personally find appealing has been instrumental in building a credible following from my database, and with that my pool of future listings. As they say; "you're only as good as your last result", so a consultancy based, long term relationship with my buyers (and future sellers) is imperative, and something I value far more than any commission.
- A Point of Difference. I have to confess that even more so in the prestige end of the market my very casual, but totally transparent, presentation and representations are mostly enthusiastically welcomed and appreciated. I'm delighted to tell people that I "try very hard not to look, or act like a Real Estate Agent." I came to the conclusion some years ago that I am no smarter, and a lot more uncomfortable, with a tie on.
In addition to the marketing/sales and auctioneering roles, I provide two other Industry related services;
- Development/design consultancy to residential developers on a whole range of products from warehouse refurbishments to $3m+ apartments and prestige subdivisions. This service preferably involves being a part of the architect/interior design team from the onset, ensuring the product delivered is correctly positioned for and presented to the target demographic. Client list includes; Consolidated Properties, Cosmopolitan Developments, Property Solutions, Horsborough Properties, The George Group, Calile Malouf Investments Pty Ltd, The Dubois Family, Hutchinson Builders, The Girdis Group of Companies, Pearson Properties, Dalon Pty Ltd, and Property Vision
- Industry training and mentoring to corporate groups and individual offices. Clients for this service include; Century 21 Queensland and select franchises, The Professionals Queensland, Ray White Real Estate, CBRE, King and Co, Wright Property Consultants, Kuceli Real Estate, Spinks & Co and on occasion businesses not related to the property Industry.
Press Release Source: http://PressExposure.com/PR/Ray_White_East_Brisbane.html