UDIA – Delivering the missing middle 17 October 2019
About Cedar Woods: Purpose & Vision Purpose Geography To create long term value for our shareholders through the development of vibrant communities Vision To be the best Australian property company known for performance & quality Price Point
About Cedar Woods: Our Strategy To grow & develop our national project portfolio, Geography diversified by geography, product type & price point, so that it continues to hold broad customer appeal & performs well in a range of market conditions. Price Point
Our Portfolio: Summary 9,600+ lots / dwellings / units 4 states - VIC, WA, SA, QLD Land estates, townhouses, apartments & commercial projects One third, are townhouses or apartments (3000) 34 developments High amenity locations & often next to train stations Projects positioned as quality developments within their Price Point respective markets Fletcher’s Slip, SA
Our Portfolio: Our Built Form Credentials Project State No. of Dwelling Type Jackson Green, VIC Nautilus, WA Dwellings Glenside SA 1,000 Townhouses/Apts Fletcher’s Slip SA 500 Townhouses/Apts Aria WA 33 Apartments Nautilus WA 66 Apartments Lincoln, VIC St A, VIC The Jetty WA 16 Apartments Waterline WA 19 Apartments Realm VIC 78 Townhouses Banbury Village VIC 430 Townhouses/Apts Newton, VIC Banbury Village, VIC St A VIC 250 + Townhouses/Apts Jackson Green VIC 450 Townhouses/Apts Price Point Williams Landing VIC 600 + Townhouses/Apts Fletcher’s Slip Wooloowin VIC 179 Townhouses/Apts
Case Study: Glenside, SA 17ha, 3km from CBD Geography Purchased from State High end inner eastern suburbs Picturesque setting - amongst heritage buildings & mature trees Largest single townhouse / apt project in Adelaide $25.8m; 1000 dwellings
Glenside: Site Photos Geography Price Point
Glenside: Masterplan 1000 dwellings Geography 220 townhouses 780 apartments - 2 buildings 8 to 10 yr project life 29.5% open space 4,000 enquiries pre launch Price Point
Glenside Townhouses
Glenside Townhouses
Glenside's Botanica Apartments
Glenside: Buyer Profiles Buyer Profile % Motivation Grew up in area; can't afford traditional home; want to Geography First home buyer 23% own not rent. Seeking high performing, blue-chip location with strong Investor 15% rental demand. Downsizer 39% Suburb that's familiar to them; new & smaller product. Upgrader 23% New & low maintenance.
Case Study: Jackson Green, VIC 6.5 ha Former pharmaceuticals manufacturing Geography site Paid $25m 20km from Melbourne CBD Close to 2 train stations Close to university & hospital
Jackson Green: Masterplan 551 dwellings Overall density of 88 / ha Geography 151 townhouses 400 apartments Townhouses achieve a 6.5 star energy rating Apartments achieving around 7 star energy rating Shortlisted for Excellence Awards
Jackson Green Townhouses
Jackson Green Townhouses
Jackson Green Apartments
Jackson Green Apartments
Jackson Green: Buyer Profiles Buyer Profile % Motivation Geography First home buyer 29% Motivated to own their own property High rental demand due to university & Investor 52% hospital Downsizer 3% Familiar suburb & to purchase new Upgrader 16% Better quality housing, closer to city
Perth: Context & Opportunities Fewer regenerating industrial areas than bigger cities Geography Government disposals Market Led Proposals (MLP) Infrastructure Demographic shift - increased single person households
Perth: Context of the opportunity State/Territory % of all apartments % of all occupied in Australia private dwellings in state Geography New South Wales 47.2 20.7 Victoria 22.8 12.3 Queensland 17.4 11.8 South Australia 3.8 6.8 Western Australia 4.7 6.1 Tasmania 1.0 6.0 Source: ABS
Product Innovation: Outer urban Perth demand for density Byford Estate Builder: JWH Group Geography 8 x 150sqm lots (that were 300sqm) 2 brm, single gge $260,000 Bought by single person households
Perth: Obstacles & Challenges Realm, VIC Market conditions Affordability Geography Vocal minorities against development Authorities Foreign buyer tax Stamp Duty
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