Market Report Inner Brisbane Apartments

September Quarter 2015

Image supplied by Casino Towers

1

3

7 6

5

1211

9

10

20278

19

16

29

1421

23

18

38

4

36

42

44

51

39

50

15

22

24

26

28 17

49

30

35

34

4137

31

52

53

46

4840

32

33

2

2543

47

13

45

54

55

NORTH OF THE RIVER

CBD

SOUTH OF THE RIVER

CBD1 TheMidtown2 111QuayApartments3 AbianApartments4 Skytower5 Spire

NORTH OF THE RIVER6 DoubleOne37 Zest8 Mode9 PieratWaterfront10 TheYards11 Proximity12 Hercules

13 Illumina14 SavoirFaireResidences1&215 38HighStreet16 Westmark17 TheJohnson18 HamiltonReach19 Unison20 NewsteadCentral21 TheMilton22 Belise23 NewsteadTowers24 MadisonHeights25 Alto26 TheHudsonatTheMill27 BroadwayonAnn

28 Pure29 CanterburyTowers30 Pinnacle31 Landmark

SOUTH OF THE RIVER32 OlympiaonRussell33 BrisbaneCasinoTowers34 Southpoint35 Verde36 Light&Co37 Spice38 Affinity39 Citro40 Opera

41 Basse42 Ink43 Highline44 Linc45 Virtuoso46 Orion47 Willow48 Liberte49 Bloom50 Habitat51 Peak52 TrafalgarLane53 StJulienResidences54 SouthCitySquare55 Stone&Co

The Brisbane off the plan apartment market has remained under the national spotlight throughout the most recent quarter – predominantly though commentary interrogating Brisbane’s property fundamentals. With substantial levels of residential construction occurring, the supply debate has been ongoing, asking questions whether continued levels of uptake are sustainable and how this will affect the underlying rental market.

Overallhowever,theBrisbaneapartmentmarketremainsinapositionofstrength.Thequarterlysalesratesareathistoricallystronglevelsandpricesarestable.Therentalmarkethastightened,however,ithasbeenthesecondarymarketwhichhassufferedastenantssubstituteoldfornew.

ThefollowingpointssummarisetheresultsrecordedfortheofftheplansalesacrosstheInnerBrisbanemarketforthethreemonthperiodtoSeptember2015.

Summary of the September 2015 Quarter

• Therearecurrently61projectsbeingsoldofftheplan.

• ThethreemonthstoSeptember2015recorded1,385unconditionalsales.Thisisa5%softeningfromthetotaltransactionsrecordedinJune2015(previousquarter),howeverreflectsa76%upliftonthesameperiod12monthsprior.

• Overall,thecurrentquarter’ssalesare200%abovethelongterm10yearaverage.

• Aweightedaverageof$609,224wasrecordedduringtheSeptember2015quarter.Thisisanincreaseof9%fromtheJuneperiodandshowsa12%growthfromthesamequarter12monthsprior.Thisisreflectiveofaslightchangeinproductmixinthemarketandtheresultantsalesinhigherpricedapartments.

• TheSeptember2015quarterrecordedalmost$844millionworthofunconditionalsalesfortheresidentialnewandofftheplanInnerBrisbaneapartmentmarket.

• TherewerefournewprojectsreleasedduringtheSeptember2015quartertotalling496apartments.Theseincluded–Illumina(Toowong),Virtuoso(WestEnd),StJulienResidences(SouthBrisbane)andSouthCitySquare(Woolloongabba).Thereareafurther17projects(1,776apartments)whichareinvariousstagesofpre-releaseandhadnotrecordedunconditionalsalesbytheendoftheSeptemberquarter.

• BrisbaneCasinoTowers,developedbyMetroPropertyGroup,wasthetopperformerforthequarter.BrisbaneCasinoTowersrecorded224unconditionalsalesforthethreemonthperiod.Otherstrongperformerswere–Skytower(131sales),Illumina(84sales),SouthCitySquare(99),Laguna(81sales)andStJulienResidences(72sales).

• Twobedroomsalesrepresented57%ofthemarketduringtheSeptember2015quarter.Onebedroomsalessoftenedto37%ofthequarter’ssales.

• Themajorityoftransactions(38%ofthetransactions)wererecordedbetween$450,000and$550,000whilstafurther26%ofthequarter’ssalestransactedbetweenthe$550,000and$650,000pricepoint.The$650,000to$750,000pricepointstrengthenedtorepresent15%ofthequarterssales.

• 1,632apartmentsremainforsaleacrosstheInnerBrisbanemarket.Givenhistoricalquarterlysalesratesandcurrentdemand,theavailabilityofInnerBrisbaneapartment’sremainsundersuppliedgiventhesestatistics.

• BaseduponthesalesrateachievedduringtheSeptember2015quarter,InnerBrisbanesupplytightenedtoonly3.5monthsofsupply.Weexpectthistoexpandduringthenextquarter.

• Twobedroomapartmentscurrentlytotalthemajorityofavailablestockrepresenting44%ofapartmentsavailableforsaleacrosstheInnerBrisbanemarket.Onebedroomsupplycontractedto40%oftheavailablestock,whilst3bedroomsrepresent13%ofthemarketsupply.

• TheSouthoftheRiverprecinctrecordedthemajorityofunconditionalsalesforthemostrecentquarter,totalling666unconditionaltransactions.TheNorthoftheRiverrecordedafurther574salesandtheCBDsaw195newunconditionalsales.

OverallitisourperceptionthattheBrisbanemarketisdefinitelychanging–adjustingtothenextpropertycycle.Aspredictedanddiscussed12monthsago,therehasbeenanevolutionintherentalmarket.Asexpectedintimesofhighrentalpropertyabsorption,tenantsarenowinapositionofchoiceandarethereforedictatingterms.Propertiesarestillbeingleasedstronglyhowever,yieldshavetightenedtorepresentreturnscloserto4%than5%.

Positively,thedevelopmentindustryisagainbeginningtoembracethelocalbuyersthroughdesignadaptationswhichappealtotheowneroccupier–therehasbeenanoticeableshiftinthedevelopmentapplicationslodgedwhichhaveproductdesignedtoappealdirectlytothelocalinvesttolive,upgraderanddownsizermarkets.Althoughahistoricallytoughersaleprocess,thisadaptionwillleadthenextmarketexpansiondestinedfortheapartmentmarketinBrisbaneifwehavethepatiencetoembracethesepurchasers

15%

26%

38%

11%

3%

4%3%

$650,000 - $750,000

$550,000 - $650,000$450,000 - $550,000

$750,000 - $900,000

$900,000 - $1.2m

$1.2m+

$350,000 - $450,000

SALES BY PRICE POINT

SEPT QTR2015

1%2%

13%

40%

44%TWO BED

THREE BED

PENTHOUSE/SUB-PENTOUSE OTHER

ONE BEDREMAININGFOR SALE

SEPT QTR2015

Overview

61residentialprojects;1,385unconditionalsales;weightedaveragesalepriceof$609,224

1

CBD

There were 195 unconditional sales recorded in the Brisbane CBD at a weighted average sale price of $721,667. A strong result in a small market.

• 195unconditionalsaleswererecordedintheBrisbaneCBDduringtheSeptember2015quarter.Thisisastrongoverallresultfortheregion.

• Ahighweightedaveragesalepriceof$721,667wasrecordedforthequarter.ThisisthestrongestweightedaveragepriceacrossBrisbane,astrengtheningof24%forthequarterandreflectsthemoreexpensivetransactionsrecordedduringtheperiod.

• Skytowerrecordedthehighestlevelsofunconditionalsales(131transactions)acrosstheCBDmarket.

• Spire,tobedevelopedbyConsolidatedProperties,isnow100%soldout.

• ThemajorityoftransactionsrecordedintheCBDduringtheSeptemberquarterwereintwobedroomconfigurationstotalling57%ofallrecordedtransactions.Onebedtransactionstotalledafurther34%,whilstthreebed,fourbedandpenthousetransactionsmadeupthebalance.

• Only378newapartmentsremainforsaleintheBrisbaneCBDacrossthefourdifferentprojects.WedohoweverexpectrecordunconditionalsalesinMaryLaneduringtheDecemberperiod.

• Baseduponthequarterlysalesrate,theCBDhasasupplyof6months.

• TheapartmentsremainingforsaleintheCBDaredividedreasonablybetweenonebedrooms(39%),twobedroomapartments(36%)andthreebedroomapartments(20%).

378unconditional

sales recorded in the September

Quarter

Development Suburb Status Total Units

Sold Sept 2015 Qtr

Sold to Date

Available for Sale

TheMidtown CBD Completed 144 5 122 22

111QuayApartments CBD UnderConstruction 78 0 66 12

AbianApartments CBD UnderConstruction 150 6 145 5

Skytower CBD UnderConstruction 1,138 131 799 339

Spire CBD UnderConstruction 340 53 340 0

CBD TOTALS 1,850 195 1,472 378

2

North of the River

The North of the River apartment market, which spans 26 actively selling projects, saw another strong quarterly result.

• Atotalof524unconditionalsaleswererecordedataweightedaveragepriceof$579,771.Thisleveloftransactionsisa13%softeningfromtheJuneQuarterpreviouslyanda18%softeningfortheregioncomparedto12monthsprior–afactorreflectiveofnewprojectreleasesforthequarter.

• 60%ofthestocksoldintheInnerNorthduringthequarterweretwobedroomapartments.Afurther41%ofthequarter’ssaleswereonebedroomapartments.3bedroomapartmentsrepresentedonly1%ofthequarterlyofftheplansales.

• 574apartmentsremainforsaleintheNorthoftheRiverprecinct.Thisrepresentsaverytight3.3months’supplyonthecurrentsalesrate.

• ThemajorityofremainingstockintheInnerNorth,50%,istwobedroomapartments.Onebedroomapartmentsaccountforafurther38%oftheremainingstockforsaleintheprecinct.

• TherewasonlyonenewprojectreleasesinBrisbane’sInnerNorthernresidentialmarket–Illumina(Toowong).

• IlluminawastheNorthoftheRiver’stopperformer,recording84unconditionalsales.ThiswasfollowedbyNewsteadCentral–Lagunawith81salesandTheJohnsonbyAsianPacificGroupwith74transactions.

• 37%ofthesalesforthequartertransactingbetween$450,000and$550,000.Afurther33%ofsalestransactedbetween$550,000and$650,000.

Development Suburb Status Total Units Sold Sept 2015 Qtr

Sold to Date

Available for Sale

PieratWaterfront Newstead Completed 99 2 88 11

Belise BowenHills UnderConstruction 228 0 219 9

TheHudsonatTheMill Albion UnderConstruction 140 0 81 59

DoubleOne3 Teneriffe Completed 111 3 109 2

PinnacleApartments Hamilton Completed 162 14 137 25

BroadwayonAnn FortitudeValley UnderConstruction 247 17 243 4

Proximity Hamilton UnderConstruction 126 12 106 20

NewsteadTowers Newstead UnderConstruction 314 0 298 16

NorthYards BowenHills UnderConstruction 208 0 207 1

SouthYards BowenHills UnderConstruction 182 0 180 2

CanterburyTowers FortitudeValley UnderConstruction 195 9 192 3

Zest KelvinGrove UnderConstruction 144 12 138 6

NewsteadCentral-Aqua Newstead UnderConstruction 149 8 140 9

NewsteadCentral-Laguna Newstead UnderConstruction 189 81 144 45

NewsteadCentral-StTropez Newstead UnderConstruction 231 70 204 27

Mode Newstead UnderConstruction 157 22 139 18

Hercules Hamilton AwaitingConstruction 228 17 214 14

Pure SpringHill AwaitingConstruction 93 61 88 5

TheJohnson SpringHill AwaitingConstruction 193 74 142 51

TheMilton Milton UnderConstruction 295 10 283 12

Westmark-Stage1and2 Milton UnderConstruction 277 8 277 0

38HighSt Toowong UnderConstruction 136 5 111 25

SavoirFaireResidencesII Milton UnderConstruction 65 0 35 30

Alto Toowong UnderConstruction 154 1 143 11

Landmark Toowong UnderConstruction 119 14 87 32

Illumina Toowong AwaitingConstruction 221 84 84 137

NORTH OF THE RIVER TOTALS 4,663 524 4,089 574

26projects;524unconditionalsales;Weightedaverage$579,771

3

South of the River

Development Suburb Status Total Units

Sold Sept 2015 Qtr

Sold to Date

Available for Sale

EmporiumResidences&EmporiumApartments SouthBrisbane UnderConstruction 217 3 211 6

Southpoint-TheApartments SouthBrisbane UnderConstruction 196 30 185 11

Basse SouthBrisbane UnderConstruction 68 0 43 25

Habitat WestEnd UnderConstruction 148 0 77 71

Peak SouthBrisbane UnderConstruction 46 3 44 2

SpiceSouthTower SouthBrisbane UnderConstruction 124 0 111 13

SpiceNorthTower SouthBrisbane UnderConstruction 150 2 126 24

TrafalgarLane Woolloongabba UnderConstruction 147 4 147 0

Citro WestEnd UnderConstruction 106 5 60 46

Light&Co-Radiance WestEnd UnderConstruction 139 43 109 30

Light&Co-Illuminate WestEnd UnderConstruction 90 24 55 35

OperaApartments SouthBrisbane UnderConstruction 180 15 172 8

INK WestEnd AwaitingConstruction 107 0 31 76

Highline WestEnd UnderConstruction 142 13 130 12

OlympiaonRussell SouthBrisbane UnderConstruction 65 10 58 7

BrisbaneCasinoTowers SouthBrisbane UnderConstruction 378 224 326 52

Verde SouthBrisbane AwaitingConstruction 81 19 81 0

Linc KangarooPoint UnderConstruction 45 0 41 4

Affinity KangarooPoint AwaitingConstruction 44 0 22 22

Bloom Bulimba Completed 32 0 32 0

Liberte KangarooPoint Completed 112 0 85 27

Willow KangarooPoint UnderConstruction 73 13 73 0

Orion Coorparoo UnderConstruction 186 0 146 40

Stone&Co Greenslopes UnderConstruction 53 20 33 20

TheEstablishment KangarooPoint UnderConstruction 105 36 73 32

Cedar Greenslopes UnderConstruction 61 11 51 10

Empire Woolloongabba UnderConstruction 44 8 29 15

Virtuoso WestEnd AwaitingConstruction 77 5 5 72

StJulienResidences SouthBrisbane AwaitingConstruction 80 79 79 1

SouthCitySquareStage1 Woolloongabba UnderConstruction 118 99 99 19

SOUTH OF THE RIVER TOTALS 3,414 666 2,734 680

The South of the River off the plan apartment market, was the strongest selling precinct during the September quarter, recording a 28% growth in volume from the quarter previously.

• 666newunconditionalsaleswererecordedduringthethreemonthstoSeptember2015.Thisisa28%growthonthelevelofunconditionalcommitmentsrecordedduringtheJunequarterpreviouslysubstantiallyabovethelongtermsalesvolumesrecordedfortheprecinct.

• TheSouthoftheRivertransactionsrepresented48%ofInnerBrisbane’sofftheplansalesforthemostrecentquarter.

• Aweightedaveragesalepriceof$599,474wasrecordedfortheInnerSouth.Thisisafigure5%abovetheJune2015quarterpreviouslyand7%abovethesamequarterin2014.

• ThemajorityofstocksoldduringtheSeptember2015quarterweretwobedroomapartments,whichtotalled57%oftheperiod’stransactionswhilstfurther38%ofsaleswereonebedroomapartments.Only6%ofsaleswere3bedconfigurations.

• TherewerethreenewprojectreleasesintheInnerSouthprecinct.Virtuoso,StJulienResidencesandStage1ofSouthCitySquare.

• BrisbaneCasinoTowers,wasthetopperformingprojectintheInnerSouthrecording224unconditionaltransactions.SouthCitySquareandStJulienbothalsorecordedhighvolumesofsales,99and79transactionsrespectively.

• 680newandofftheplanapartmentsremainforsaleintheSouthoftheRiverprecinct.Thisisasupplyof3.1monthsbaseduponthequarterlysalesrate.

• Oftheseapartmentswhichremainforsale,44%aretwobedroomapartments,40%areonebedroomapartmentsand15%arethreebedrooms.

• Liberte,Bloom,TrafalgarLaneandVerdearenowsoldoutandwillberemovedfromfutureapartmentreports.

666unconditional transactions at a weighted average of $599,474

4

Future Apartment Pipeline – And the Debate Rages on

The following statistics provide an analysis of all residential development applications with a development value of over $10 million or which contain greater than 30 apartments.

The following points summarise the approval changes for Inner Brisbane sites through the past 3 months.

• BrisbaneInnerRingprojectsatvariousstagesofplanninghavebeencategorisedbydevelopmentapplication,developmentapprovalanddeferredpendingmarketconditions.TherewereanumberofnewapplicationsandapprovalsrecordedduringtheSeptemberQuarter2015withthenumberofdeferredprojectscontinuingtodecline.

• Thepotentialresidentialdevelopmentpipelinecontinuestogrow.Intotal,attheendofSeptember2015thereare27,776apartmentsover164projectsinthedevelopmentpipeline,agrowthof5%fromtheJuneQTRprior.

• Weremainoftheopinionthatthispipeline,howeversubstantial,isnotoutsideoflongtermtrendsandisnotapipelineofprojectsimmediatelylikelytoenterthemarket.

• Followinganumberofprojectsenteringthesalescycle,thetotalnumberofapprovedapartmentsnotunderconstructionorbeingactivelysoldnowtotals40%ofallapartmentsplannedintheInnerBrisbaneDevelopmentpipeline.

• ApartmentsawaitingapprovalattheendoftheSeptemberquarterincreasedslightlywhencomparedtoJune2015.

• 41%oftheanalysedprojectsareawaitingapproval,whilstdeferredapartmentsrepresentsonly19%ofthepotentialInnerBrisbanesupply.

• Themajorityofapartmentstockplannedisintwobedroomconfigurations,46%,reflectingtheslowchangetowardslightlylarger2bedroomapartments.

• TheInnerSouthWestretainsthemajorityofplannedapartmentsacrossBrisbanetotalling11,758potentialapartments.ThisisremainscentredaroundSouthBrisbaneandWestEnd.

5

Future Supply Pipeline - Stage of Development

41% 40% 19%

DEFERREDPrepared by Place Advisory. Source BCI Construction.

DEVELOPMENT APPLICATION DEVELOPMENT APPROVAL

Future Supply Pipeline - Breakdown by Stock Type

46%

OTHERTHREE BED

5% 4%45%

Prepared by Place Advisory. Source BCI Construction.ONE BED TWO BED

Special Report6

2015 has been one of the most considerable years on record for the volume of off the plan sales in Inner Brisbane. Following a record breaking three month period at the end of 2014, consecutive quarters through 2015 saw sales volumes upheld across the Brisbane market, portraying the strong underlying demand for opportunities in the Brisbane market.

These levels of sales have been driven by a market which has remained very affordable when compared to the Southern East Coast capitals and the more established apartment markets of Sydney and Melbourne. Brisbane is today 100% more affordable than Sydney for apartments on a like for like basis – offering significant buying potential for the interstate investor.

2016 will in our opinion be a very interesting year for the Brisbane residential market, and in particular the off the plan space. We are expecting a substantial pipeline of ‘potential’ projects to enter the marketplace, which when totalled could offer more alternatives for a purchaser to buy than ever before. Despite this, we expect absorption rates to remain high. We also do expect to see an even greater range of apartments available for sale – from the very affordable to the super high end.

The investment market will become even more competitive through 2016, with focus first and foremost upon the more premium investment stock. Incentives for purchasers in this space are expected to become more competitive throughout 2016 as projects compete for their share of the investment buyers’ purse.

The investment market will become even more competitive through 2016, with focus first and foremost upon the more premium investment stock.

6predictions for 2016

Place Advisory’s

2016 will be the most competitive off the plan project market since the 2001 - 2003 boom period. The 61 current projects which have and are recording unconditional sales on a quarterly basis, will be joined by an expected 25 to 30 projects in the first 6 months. Within this mix, there will be experienced developers selling in Brisbane for the first time, and advice will need to be sought out, given and taken strategically. What works in Sydney and Melbourne will not necessarily work in Brisbane. Design, price, marketing and local buy in have been proven to be categorically different.

Competition

A very topical issue for the Australian market currently. Brisbane has historically only seen a small percentage of the international market in Australia, however offshore campaigns and education combined with our substantially more affordable real estate is slowly changing this. In most projects, international purchasers will only total between 15% and 25% due to residential lending constraints, however they are competing for better stock within projects with the local market. Challenge for the local buyer will be to make decisions quickly where historically they have had the grace of time.

Local Buyers vs Asia

Construction price rises were noticeable across the industry through the second half of 2015. When this is combined with the higher prices paid for land the past 12 months and a market which has seen limited price growth (and not expected to see substantial change the coming 12 months), there will be a profit margin squeeze recognised by the developer. Adding increased competition and buyers seeking favourable purchasing terms will see pressure increased on the ability for some to deliver product. A major issue we expect to see within our market during 2016. There will be successes and failures in 2016.

Market Squeeze

This is certainly the space to watch. With a number of major projects settling through 2016, substantial supply entering the market, the rental market will be put under further pressure. Positively we are of the opinion that we don’t expect vacancy rates to expand substantially. Undoubtedly yields will contract further, however this will be more recognisable in the secondary apartment market as renters seek out newer buildings in premium locations first and foremost. Overall, 4% returns will become the new normal.

Rental MarketWe do not expect to see substantial price growth for off the plan projects in 2016 – subdued by the market as projects compete for investment buyers. We do however expect to see a number of high end projects enter the market chasing the owner occupier market. This will undoubtedly result in higher weighted average prices recorded in quarters where these are released.

Price Growth

Special Report

An intimate knowledge of potential buyers and the marketplace can minimise risk and give your development the edge over competitors.

At Place Projects, we understand the importance of ongoing market research. In fact, we have our own full-time researchers, so we’re able to retain and have easy access to all of the information we gather. We know that by providing our clients with accurate, up-to-date research, it ensures they can make informed, financially sound business decisions. It enables us to identify opportunities for our clients, provide advice on choosing the very best site and create the optimal package for each project. We can then make qualified recommendations on the product mix, positioning, design, finishes and even price. Access to such comprehensive buyer information also helps us pick early market trends. We believe that our in-depth local market knowledge can help you develop a product that will yield greater returns, experience faster sales and achieve the best financial result.

place projects

PLC186_Project Marketing Quarterly Research Report 12pp.indd 2 17/02/11 9:44 AM

SYD WALKERAfter a successful career in marketing rural commodities, Syd moved into Real Estate and Project Marketing on the Sunshine Coast in 1992. Over an 18-year period, he has been involved in site acquisition, project consultancy and the sale of a number of landmark residential and mixed-use buildings. Syd has worked closely with a number of major developers, including Lend Lease, Sunshine Coast Reed Property Group and Australand. Collectively he has sold over $1 billion in residential sales. Most recently, he has worked on a variety of projects targeted to lifestyle investors and owner/occupiers in resort settings, including The Duporth Riverside on the Maroochydore River, The Moorings at Caloundra, North Shore Apartments at Twin Waters and the 5 stage Seaforth Resort at Alexandra Headland.

BRUCE GODDARD Bruce has close to 30 years experience successfully marketing and selling major project developments from the Whitsundays to Cairns. In that time, he and the award-winning offices that he has led have been market leaders in residential, waterfront and mixed-use project marketing. His services have been consistently sought out by leading developers, including Consolidated Properties, Hamilton Island Enterprises and Thakral, to mention just a few. With around $1 billion worth of residential property sold, Bruce brings to the Place Projects team a wealth of experience and expertise.

The Place Project Marketing Team is lead by some of the most experienced and high achieving sales consultants in the industry.

LACHLAN WALKERAs a Place Researcher, Lachlan’s role is to gather both internal and external market intelligence to gain a comprehensive understanding of residential projects and provide product specific advice to our clients. This reduces the associated risk and provides the information necessary for them to make an informed decision. He has worked closely with a number of developers, from site conception through to product delivery. Lachlan has also provided professional consultancy and advisory services to leading property clients, including Valad Propety Group, Lend Lease, Australand, Stockland, Laing O’Rourke, Kenlynn Properties Australia, Anthony John Group, FKP, Leighton Property, Devine and Rankeilor Developments.

As a Place Researcher, Lachlan’srole is to gather both internal andexternal market intelligence to gain a comprehensive under-standing of residential projects and provide product specific advice to our clients.This reduces the associated risk and provides the information necessary for them to make an informed decision.He has worked closely with a number of developers, from site conception through to product delivery. Lachlan has also provided professional consultancy and advisory services to leading property clients, including Valad Property Group, Lend Lease, Australand, Stockland, Laing O’Rourke, Kenlynn Properties Australia, Anthony John Group, FKP, Leighton Properties and Devine.

LachlanWalkerM:0438710888E:lachlanwalker@eplace.com.au

Bruce Goddard has a reputation as a prominent leader in the field of Residential Project Marketing, which has led to numerous major appointments for some of Australia’s most prominent institutions and banks.As licensee of Place Projects, Place now holds appointments for a number of Brisbane’s major residential projects, supplying advisory, sales and marketing services to various Public as well as smaller Private Companies. Often sought after by property developers through reputation, Bruce’s offices have been involved in the setting, marketing and selling of numerous residential projects. Bruce was also recognised by the REIQ as Queensland’s Agent of the Year in 1994. Bruce’s Project Marketing career spanning over 25 years has resulted in sales in excess of 1 Billion dollars.

BruceGoddardM:0418185209E:brucegoddard@eplace.com.au

After a successful career in marketing rural commodities, Syd moved into Real Estate and Project Marketing on the Sunshine Coast in 1992 before a move to Brisbane in 2010.Over a 20 year period Syd has been involved in site acquisitions, project consultancy and the sale of a number of landmark residential and mixed use buildings. During this period his agency has won the prestigious REIQ Sunshine Coast Real Estate agency of the year, seen his staff take out awards for REIQ salesperson of the year and the Sunshine Coast business employee of the year.At Place Projects Syd is responsible for managing project sales teams, identifying new project opportunities and servicing various investment channels throughout Australia. Syd works closely with the management team in project marketing to meet developers required rates of sale and the overarching project objectives.

SydWalkerM:0418710888E:sydwalker@eplace.com.au

07 3107 9223 research@eplace.com.au

placeprojects.com.au