MATTHEW GUY FORMALLY OPENS NEW POINT POLARIS OFFICE

Celebrating the launch of our new Melbourne office, Point Polaris was joined by the staff, clients and industry professionals that have made our continued success possible.

In attendance were Liberal Opposition Leader, Matthew Guy, and David Davis, Shadow Minister for Planning, Local Government & Equality Member for Southern Metropolitan Region.

Guy led the formal proceedings by praising the work of Point Polaris and the “cradle to grave business” we have created.

In his address, the former Planning Minister spoke of the relationship between government and development, the critical role companies like Point Polaris play in this dynamic and the need for inter-sector collaboration.

“The importance of the planning portfolio in government on businesses like Point Polaris, that service the development sector from permit right through to construction, is significant,” said Guy.

This sentiment was echoed by our Managing Director, Andrew Hogan, who went on to talk to the very real responsibility developers and investors have on shaping our cities.

“We have an opportunity to help these parties steer a better course, to positively influence development outcomes at every level,” said Andrew

“Think of your investments as yachts; you are at the helm, you are the captain and we at Point Polaris are your navigator.”

“Point Polaris secure financial success by expertly navigating our client’s investments through ever changing property and construction markets.”

Telling the tale of Point Polaris, Andrew shared the family inspirations and governing principals that continue to guide the evolution of what is now a leading multi-national enterprise.

Andrew’s full speech and the narrative behind Point Polaris can be found here [INSERT HYPERLINK], while a few special moments from the night are captured below:

100% Sold & Settled and Looking Amazing!

Point Polaris has been proud to work alongside Callex Group to help them deliver their first project in Australia – and what a stunner it is.

Keeping our eye on the ball right to the end was integral to the final success of The Beckworth, Glen Iris.

With a fastidious eye for detail, Project Manager Chris Yang worked alongside both the client and Settlement Manager, Kin Property to make sure the settlement process ran smoothly. This meant managing purchaser changes so all parties were on the same page and working closely with the builder HDP so all the certificates could be received on time to trigger settlement. All of this was done, of course, within budget.

The result a 100% sold and settled project. And a very happy client

 

Melbourne Boutique Apartment Market Comes Back Strong

While caution still reigns in some quarters in Melbourne with interstate migration down, international borders closed and international students only trickling in over the coming months, the small to mid-size boutique apartment market continues to boom.

Point Polaris has benefited from this confidence with our appointment to 3 new high quality apartment projects in Brighton, St Kilda and Armadale.

The Martin, Brighton

First-off we will be working with EBG Developments to assist them in the delivery of Martin, Brighton.

This elegant Bayside address will become home to eleven boutique apartments with Interiors thoughtfully created by Mim Design to suit the vibrancy of Brighton living.

“In paying respect to the residential characteristics of the surrounding distinguished suburb, it is crucial this building responds to design with a timeless substance, ensuring it harmoniously settles into its environment.” Miriam Fanning – MIM Design

Project Website 

Point Polaris will provide Project Management services with construction planned to commence at the end of this year.

333 St Kilda Road, St Kilda

We are also delighted to have been appointed by Malaysian developer Matrix Concepts as project managers for the redevelopment of the Habitat HQ Backpackers at 333 – 335 St Kilda Road in Melbourne.

The 2,540sq m corner property will be replaced by a 7-storey mixed-use development project which includes residential apartments and a double storey Penthouse plus Retail /Café at Ground Level and a 2-level Basement Car Park.

Construction is anticipated to start QTR2 of next year.

Vitae, Armadale

Finally, construction is already underway at Vitae, Armadale with the appointment of D5 Building Group.

Vitae – representing life, living and the natural world – is a luxury, boutique development of 14 two and three-bedroom garden-focused apartments by Luxmile.

Every apartment is a corner residence, meaning light, ventilation and views are a striking feature of each home with outdoor space and secure parking as standard.

Project Website

333 St Kilda Road
Vitae, Armadale

New Community Precinct and Multi-Stage Development Launches in Melbourne’s Inner West

Melbourne based development group ANPLUS has officially launched Seddon Square.

The 1.4 hectare site will be released over four stages, with stage one including 77 residences, stages two and three including 15 townhouses and 168 apartments and stage four including 142 apartments.

Generous open spaces feature throughout the development including a 1,700 square metre park, green pedestrian links and a thriving meeting square to address the lack of public open space identified in the City of Maribyrnong Open Space strategy.

Other features include a multi-purpose and large co-working hub centred around a landscaped courtyard, as well as access to a gym and private and communal terraces. Parcel lockers, dining rooms, a dog wash and a workshop room, as well as retail on the ground floor will also be available. Residents can access these amenities via a Resident App, making living, working and relaxing at Seddon Square even easier.

Point Polaris is delighted to have been engaged to provide development advisory and project management services for the development.

Construction is expected to commence later in the year on the first residential stage, Walter Lane.

POINT POLARIS ACHIEVES FINANCIAL CLOSE ACROSS $320,000,000 WORTH OF PROJECTS IN FIRST QUARTER 2017

POINT POLARIS ACHIEVES FINANCIAL CLOSE ACROSS $320,000,000 WORTH OF PROJECTS IN FIRST QUARTER 2017

Point Polaris has achieved financial close across five off-the-plan apartment projects and one hotel project worth a combined end value of $320,000,000 in the first quarter of 2017, in what signals a bumper year for project construction and delivery, both for local and off-shore developers.

While Point Polaris says it has been harder to secure traditional finance from the banks since tighter lending restrictions were announced last year, non-bank lenders and off-shore institutions have stepped in to fill the gap. Each of these have achieved the required sales in order to meet financial close conditions from both bank and non-bank lenders, as well of cross-border transactions with offshore non-bank lenders.

Among the projects that have achieved financial close are the 142-apartment project ‘Reflections’ in North Melbourne, and the 93-apartment project ‘The Longhouse’ in Hawthorn.

Combined, construction of the 380 apartments and 165 hotel rooms are set to generate approximately 500 local jobs at peak construction in a sector which Point Polaris Managing Director, Andrew Hogan says is propping up the economy.

“Point Polaris has secured finance for clients on a record number of projects in the first quarter of 2017, in an economy where the banks are retracting from the market. This just means that the non-bank and overseas lenders are stepping in to fill the gap.”

“This is not to say that funding is not difficult, in fact it’s the most challenging environment we’ve ever seen, however the difference is that quality developers that step up to the plate and deliver quality projects in quality locations that achieve quality sales will still receive quality finance. It’s a flight to quality and our clients’ design-led projects are doing better than most.”

“The days of producing dog-boxes are over; in this climate these inferior investor-led projects simply won’t achieve the sales and required funding to get off the ground. It’s a great outcome for Melbourne as a city that is now in a position to welcome quality, design-led projects that suit the local market.”

While APRA and the Australian banks are making it harder for developers and overseas purchasers and developers to achieve finance due to a swathe of funding restrictions, Point Polaris has been very successful in achieving Australian bank finance for both local and offshore developers.

“Our clients sell a lot of apartments, townhouses and houses to Chinese purchasers who are increasingly market-savvy – they are only seeking out quality dwellings for the right price – our clients’ projects deliver this value to the local and overseas Chinese community which has a significant influence on the market,” Hogan said.

Mr Hogan said that contrary to reports, there is no market oversupply and in fact more apartments are needed in order to meet the demands of the local rental market.

“Vacancy rates for apartments across greater Melbourne have just hit 1.7 percent. That’s a near-record low that if thought about in layman terms, translates to housing and apartment stock being vacant for just six days each year if re-let each year.”

“Our apartments are full. More construction across Melbourne is what’s required in order to house the record number of new immigrants and new home owners that are seeking a home, which in the year to September 2016 grew by a record 128,000 people.”

“To anyone who would say that we are in a construction bubble, I would suggest they look at the facts to understand that all of this construction is simply what’s required to keep up with the demand.”
Mr Hogan echoed many in the market when he suggested the recent government changes to the first home buyer grants and stamp duty concessions were misguided.

“As an industry we have withstood a tsunami of events in the last 12 months that we as an industry have approached with resilience. The government’s latest announcement has unintended consequences and will without doubt reduce supply to an already undersupplied market, pushing rents up, increasing purchase prices and making the entire market more expensive for everyone.”

“Similarly, we don’t agree with the government’s new vacancy tax, which is specifically targeted at the Chinese and wider offshore community. We are embarrassed by the message these policies by the current Andrews government is sending our Chinese friends.”

“Victoria will simply become less competitive and the doors are closing for business, rather than providing a hospitable environment to attract the offshore investment that we need in order to prop up our economy,” he said.

The full service advisory firm is proving the value of an end-to-end approach that focuses on its clients’ pipeline through site acquisitions, permits, sales, finance, construction and settlements.

Unlike any other in the market, Point Polaris offers expertise across both acquisitions, capital solutions, development advisory and construction project management.

“With over $1.8billion in our portfolio across Victoria and New South Wales our institutional style approach allows Point Polaris to deliver a superior level of investment governance, top tier development advisory and construction services.”

“Beyond this our clients benefit from equity returns of between 20% – 50% per annum, meaning that despite changing market conditions, planning policies, lending and finance regulations we are still effectively doubling or tripling our clients’ investments in just three to four years.”

This article was featured in The Urban Developer, read it here.

Elsternwick Apartments receive 6 star energy rating

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What Does A Benchmark Suburban Office Look Like?

The spectacular 627 Chapel Street by Goldfields Group has reached an exciting milestone with the structure officially reaching its highest point ahead of scheduled programme.

Increased attention now focuses on finishing trades to typical office floors and podium glazing works. The next couple of weeks will see the commencement of external civil and landscape works.

The project encompasses the construction of a new 24,000m2, 24 storey PCA A-Grade commercial tower, with 5 Star Green Star and 5 Star NABERS ratings.

Features of the project include a roof top terrace, a feature entry lobby and 134 car parks across a five-level basement with a provision for car charging stations.

You can see progress here:   

We look forward to successfully delivering this landmark office development for our client Goldfields Group.

PROJECT COMPLETE | BESPOKE

Bespoke, with it’s contemporary brickwork facade occupies Malvern Road and sits seamlessly within the surrounding architecture of Glen Iris.

Congratulations to everyone involved in this achievement including:
Catch Developments
Plus Architecture Pty Ltd
Manresa Constructions Pty Ltd

Point Polaris was delighted to have provided Development Advisory and Project Management Services.

Photo Gallery: https://manresa.com.au/portfolio/bespoke-apartments/

CONSTRUCTION COMMENCED AT WESTERN GARDENIA

Just in time before the snap lockdown, Point Polaris were invited to celebrate this special milestone for #FountainstoneGroup with a breaking ground ceremony at Western Gardenia.

The first turn of sod coincided with a toast to a happy Lunar New Year.

Point Polaris are managing this project in Tarneit which consists of 71 Residential lots and a Childcare centre.

Civil Contractor : Civ2Con
Civil Engineer: LD Eng Pty Ltd
Sales & Marketing: KOHAM Property Group

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