The builder for Thirdi’s Dairy Farmers Towers in Newcastle has been announced.

Multi-award-winning construction company Decode will lead the build of the project, which will comprise 180 luxury one, two and three-bedroom apartments in the NSW city’s West End.

An iCIRT-rated and multi-accredited builder, Sydney-based Decode’s projects include the Grande Pyrmont Bay Estate, comprising 11 high-end terrace homes surrounded by some of Sydney’s oldest heritage-listed buildings, including the Terminus Hotel.

It was also responsible for the $500-million Burwood Grand—the transformation of 10,000sq m of the Sydney suburb’s commercial centre into 498 apartments, 16 retail spaces and 4000sq m of council chambers across three buildings and a total of 54 storeys.

Thirdi said it had appointed Decode due to its “extensive experience in delivering excellence in construction and history of transforming and restoring historical sites into quality-built environments”.

Thirdi co-founder Luke Berry said Decode’s Grande Pyrmont  had drawn their attention to the builder.

“We were thoroughly impressed with the quality of the build at Grande Pyrmont and we have wanted to work with Decode ever since.

“After reviewing Decode’s projects within Sydney and the surrounding areas, we gained an understanding of the team’s ability to deliver a quality product that all stakeholders were proud of.”

Dairy Farmers Towers was approved in June last year and will include communal green spaces, a state-of-the-art gym, an elevated north-facing outdoor swimming pool and sundeck, a wine bar and cellar, as well as an exclusive residents-only shared work hub.

In an nod to Newcastle’s history, according to the developers, the project will also reimagine the heritage-listed glass milk bottle and clock towers as part of a pedestrianised, broader public art installation.

Dairy Farmers Towers’ apartments were 75 per cent sold, Berry said.

Thirdi is one of the largest providers of Specialist Disability Accommodation apartments along the East Coast of Australia, partnering with numerous Specialist Independent Living Advisors to provide suitable accommodation in their large-scale developments, including Dairy Farmers Towers, which will deliver 10 SDA apartments.

Decode will be onsite in the coming weeks upon completion of early works at Dairy Farmers Towers.

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Having been active in the London market for almost five years, Australian property developer, Third.i, has now opened its first international head office here, in order to tap into local demand having already built up a £185m pipeline of new build homes in the city, with a further £130m planned following the recent acquisition of Westminster Tower in Lambeth which has been renamed ‘The Doulton’ and launches in September 2023.

As part of its ongoing investment into London’s property market, the 156 sq m office at 22 Albert Embankment – which is located on the river between Lambeth Bridge and Vauxhall station – is strategically situated to enable the firm to build its own UK based team which is being headed up by co-founder, Ron Dadd, who has transferred from Third.i’s base in Sydney.

As part of their ongoing investment into London, Third.i’s new office is also home to the marketing suite of another residential scheme, Graphite Square in Vauxhall, in preparation for its official UK launch later this summer.

Founded in Sydney over twenty years ago, Third.i have become a global leader in property development and investment, collaborating with the world’s leading architects, designers and place makers to create vibrant places for people to live, work and play in – from cradle to grave.

Having successfully delivered over AUD$4bn pipeline of commercial and residential properties in Australia, the firm brought their innovative model and expertise to the London market in 2018 with the acquisition of their flagship scheme, 58-70 York Road in Battersea, followed by Graphite Square in 2020, where over 60 per cent of homes have since sold off market prior to its official UK launch later this year.

“We are very excited to be opening our first international office in London and expand the Third.i presence to the UK,” said Luke Berry, co-founder & director of Third.i. “This is the strategic next step following our growth in Australia. We want to let our buyers know that we are here to stay through not only investing in a full-time office but by relocating some of our Australian team too.”

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Third.i recently picked up a landmark site on the Thames for a luxury resi project, and has a raft of other major developments in the works. 

After five years operating in the London market, Australian developer Third.i has decided to put down some roots in the capital.

The 20-year-old firm, founded in Sydney, has chosen the UK capital for its first international outpost as it looks to “tap into local demand”. The team will be based at 22 Albert Embankment – on the river between Lambeth Bridge and Vauxhall station – and headed up by co-founder, Ron Dadd, who has transferred from the Sydney HQ.

Also on the team are former Australia and UK professional rugby player, Gareth Hardy (director of development), Steven Dunn (general manager), Guy Emmerson (director of acquisitions), and Jacinta Mendes (marketing manager). Their brief is to pursue land and development opps throughout Greater London, support new development launches and promote the existing London portfolio.

This is far from a cold start, though. The firm has already built up a £185mn pipeline of new-build projects in the city, and has further £130mn in the works following its acquisition of Westminster Tower (just along from the new office) a few weeks ago. “The Doulton”, as the scheme has been rebranded, is due to deliver 28 “world-class” apartments with interiors by Banda.

The new office will also serve as the marketing suite for Graphite Square, a forthcoming mixed-use scheme in Vauxhall. The development, almost at practical completion stage and soon to have its official UK launch, is delivering 160 new homes, 80,000 sq ft of co-working office space and landscaped communal gardens. The overseas sales campaign for this one saw a third of apartments snapped up in less than three months, generating over £40mn in sales, and making it “the fastest selling scheme in Zone One” according to the firm.

Globally, the company says it is on track to build a billion pound pipeline over the next five years.

Luke Berry, Co-Founder & Director of Third.i: “We are very excited to be opening our first international office in London and expand the Third.i presence to the UK. This is the strategic next step following our growth in Australia. We want to let our buyers know that we are here to stay through not only investing in a full-time office but by relocating some of our Australian team too. There are significant opportunities to be had in the UK from student accommodation to retirement living, so London is an appealing base to operate from. Gareth went to school with Rob, one of our Founders, and has followed us on our Third.i journey ever since. He saw an opportunity in London and asked if he could produce a fully secured deal to us, would we consider it? We agreed and that was our flagship project in Battersea. We have continued to grow the UK business ever since and it was important for us to therefore have an office in the area we are focusing on, which is close to both Graphite Square and another site we have recently acquired.”

Ron Dadd: “I am very excited to be given the opportunity to head up Third.i’s UK team. As one of the Co-Founders, I have been with the company for over 20 years based in Sydney, and so have already been a part of the company’s substantial investment into the London market. Working with the head of our UK business, Gareth Hardy, we identified the opportunity to replicate what we were doing in Australia in London, and the strength of our results to date demonstrates the demand in London for residences in desirable locations that have a focus on design and architecture. We work with world-class architects, interior designers and place makers around the world to create vibrant places for people to live, work and place, and have a strong track record of selling out projects and breaking suburb records.”

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Taking the plunge with your own business is a daunting prospect but two former Ing- ham sisters are thriving in the Townsville CBD, encouraging others to do the same.

Trained as a nurse, Carly Chiesa and her sister Megan Artis, who worked as a beauty therapist, stepped out of their comfort zones to open the popular The Beet Bar cafe on Flinders Street in 2015.

When their lease ended, the sisters closed the cafe and began a search for a suitable space to take their business to the next level.

Ms Chiesa said they began talks with the owners of the Precinct 21 building on the corner of Stokes and Sturt streets and were offered a great deal to become the anchor tenant.

They signed a 10-year lease on a 130sqm space, and officially reopened in August 2021.

“We designed the tenancy from scratch and fitted it out, and there has been a great response from our customers.

“We’ve had our ups and downs but because we’ve been willing to change and grow, it’s kept us relevant.”

“We now have a bigger menu and a fresher layout with different types of seating available, including outdoor pet- friendly dining,” she said.

While the sisters hadn’t en- joyed a positive experience with landlords and real estate agents in the past, Ms Chiesa was full of praise for Third.i, the owner and property developer for Precinct 21.

“It was really refreshing that the owners helped us run with our ideas, gave us the space, and believed in our vision,” she said.

Inspired by the Google and WeWork workspaces, the five- storey Precinct 21 boasts an industrial style fit-out with abundance of natural light following a $10m transformation.

Mr Berry said there were a limited number of 100sqm to 479sq m office spaces still available on levels one to five.

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Newcastle has been earmarked as a location for more accessible housing, after the National Disability Insurance Scheme (NDIS) released a new pricing guide expected to encourage greater investment in Specialist Disability Accommodation (SDA) in key regional areas.

The changes, introduced on 1 July, weremade in an attempt toadequately reflect economic inflationary pressures adversely impacting the market.Growing demand for specialised disability accommodation in urban areas reflect a need for greater access to central amenities that make independent living as easy as possible for those with high supportneeds.

INSITU chief housing officer Rosie Trantham says the newpricing guide should open doors to affordable homes for those in greater need.

“In parallel, we have seen an escalation in land values, building costs and interest rates all impacting where SDA housing has been built, leaving a void in the market for fit-for-purpose NDIS housing” she said.

“This latest NDIS pricing framework will reshape D A on-demand housing, encouraging the development of more innovative and individually tailored disabilitaccommodation in urban
locations along the eastern seaboard, and opening up more opportunities for NDIS participants looking for purpose-built homes of all configurations.”

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A prominent Newcastle developer says he is reviewing all of his projects in light of new planning rules allowing greater height and density in exchange for affordable housing.

the NSW government on June 15 released a plan to address the housing supply shortage, by offering incentives for developers to include affordable housing in their projects.

Housing developments valued at more than $75 million which allocate a minimum of 15 percent gross floor area to affordable housing can have 30 percent more floor space per ratio and 30 percent more height than local environment plans.

The developments will also gain access to the State Significant Development planning approval pathway, which often results in faster planning decisions.

Affordable housing is open to people on a wider range of incomes than social housing and is for people whose income isn’t high enough to pay rent where they live or work.

Projects including the store appartments, Dairy Farmers Corner and the West Village development on the former spotlight site are valued at more than $75 million.

Dairy Farmers is being developed by Third.i Group. Director Luke Berry said Third.i would all of their projects to see if they are eligible for the proposal.

“This will include our current and future pipeline of apartment developments as well as our large scale house and land communities,” Mr Berry said.

We want to give everyone an opportunity to live in accessible locations full of amenity so watch this space if we get government support on our projects there will be some really big announcements coming soon from our world.”

Mr Berry said the change was needed to mitigate the housing crisis and would make affordable housing “more accessible to those people in need of it”.

“If we don’t do something drastic today and maximise the sites that can support increases in density without over developing them, its the future generations that will suffer because of it,” he said.

Newcastle lord mayor Nuatali Nelmes said the announcement was “a great step”towards ensuring more affordable housing was included in new developments.

“City of Newcastle is in a position as the only metropolitan council to retain planning powers in the state,” she said.

“It’s my view that while Newcastle has a great track record of high-quality and sensible development from a planning perspective, we’ve needed leadership from the NSW government to ensure adequate social and affordable housing is contained within new large-scale developments, particularly in the emerging CBD in Newcastle West.

“The premiers announcement is a great step in that direction.

“i’ve written to the premier to advise that City of Newcastle is willing to work closely with the NSW government to explore opportunities to fast-track and streamline construction of more social and affordable housing throughout Newcastle, and i look forward to continuing to work with the government to continue to deliver more housing for Novocastrians in need.”

The changes are set to come into effect later in 2023.

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One of the city’s older and most prominent office buildings is being repurposed to include a state of the art office precinct inspired by Google workspaces.

The five-level building on the corner of stokes and Sturt St, is also set to house state government offices with a heads of agreement signed to negotiate terms.

But initial plans to convert at least part of the building into specialist disability accommodation have been ditched after it was found the potential change of use would have triggered fire compliance requirements which would have made the redevelopment unviable.

The 40-year-old building with more than 5700sq m of net lettable area was previously the home of the region’s electricity authority and more recently infrastructure group AECOM.

But it has been mostly vacant in recent years and in need of a makeover.

Acquired by Sydney developer Thirdi, with the backing of Singaporean funds, in 2019, they have completed a $10m transformation, rebranding the property as Precinct 21.

Popular food and beverage cafe The Beet Bar took s prominent ground floor tenancy in 2021 and women’s fashion boutique Hazel mai also recently moved in.

Thirdi founder Luke Berry said they were well advanced in negotiation with a statutory state government body to lease 1500sq m on the ground floor and first level.

While plans for apartments as specialist disability accomodation proved unfeasible, Mr Berry said he was thrilled to have refurbished the building, including level 4 as a co-working space.

He said the project was inspired by Google workspaces with each floor boasting a modern, industrial style fit-out with an abundance of natural light and views across the city.

On Level 4, suites of between 100sq m and 479sq m are available, although the group says it has flexible floorplan options which can be customised to suit a business’s needs.

The building comes with 24/7 access, on-site basement parking, dual lifts and flat floor plans.

inquiries on the office space can be made to E-Property Consulting NQ.

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Sydney developer Thirdi has been given the green light for its joint venture Potts Point residential project by the Land and Environment Court.

The MUSE Potts Point development on Brougham Street will deliver 13 boutique residential one, two and three-bedroom apartments under plans submitted last year.

But the process proved to be more challenging than first imagined after the City of Sydney Council and planning committees failed to make a determination.

In March, Thirdi and development partners Toohey Miller filed an appeal in the Land and Environment Court.

While they have now been successful, Thirdi co-founder and director Luke Berry was candid about the challenges the team faced.

“From our point of view it was about respecting and integrating the heritage component of Potts Point within the development,” he told The Urban Developer.

“From the council’s point of view, due to a small but vocal community group against development in the area, it was obvious they were going to be under pressure to let our DA run a normal process of review and approval, even with our proposal being a compliant one in terms of height and scale. 

“At times you could tell the council felt torn between providing direction based on good design and how they would manage the local objections which would have severely impacted the best outcome for the site.”

As a result of the consultation and court process, the developers made revisions including a reduction in the size of the apartment block which would improve view sharing, particularly for The Butler restaurant on Victoria Street, which faced losing its city view as a result of the development. 

“While we were always going to ensure fair and reasonable view sharing for neighbouring properties, it was difficult to cut through the mis-information of the community groups just wanting to stop the development when they knew this was never going to happen,” Berry said. 

“All the design revisions were to ensure that the local community was considered, the heritage of the location was respected all without impacting the design intent of the development.

“We hope the community will see how we addressed their concerns in the final designs.”

Thirdi experienced a difficult and frustrating process with the Land and Environment Court.

“Thirdi always believes that the best and most productive process would be to try and work with the council and community to achieve a positive outcome for the development,” Berry said. 

“We are just grateful that there is a process that development like this one can follow to secure approval.

“The commissioner did an extraordinary job at balancing everyone’s opinions and concerns, and the outcome is a great result for all involved.”

Areas such as Brougham Street at Potts Point have aging and non-compliant buildings, said Berry, and these issues will have to be played out more often. 

“The reality is that areas like Potts Point…need to have a pathway through planning to ensure new housing is delivered in this area.” 

Despite the challenges, Berry is looking forward to the future of the development.

“We are excited to reveal these views to future residents when we launch MUSE in late 2023…can’t wait to start construction later this year,” Berry said.

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It has been billed as Australia’s most resilient residential market, with developers and investment piling in and the nation’s seventh biggest city welcoming a record number of citizens this year.

But Newcastle’s boom has nothing to do with its long association with coal mining. It’s all about population growth, according to Ray White’s head of commercial research, Vanessa Rader. 

“The housing affordability of the region has not gone unnoticed as well as the lifestyle benefits and access still to Sydney,” Rader says.

“Investment in infrastructure across the region has made Newcastle a stand-alone region for people to live, work and play, not a commuter town with limited prospects.”

If it maintains its current growth trajectory, Newcastle’s population is expected to tip over 200,000 by 2041. 

But it’s not all roses. 

“Demand to purchase will be slow this year (as it is across most areas) given interest rate increases which has dampened investment activity for the remainder of this year,” Rader says.

“Construction of new stock will also slow given rising finance costs and high construction costs.  

“The office market may continue to have take-up, albeit at a limited rate like most other office markets. Opportunities will stem from the services industries which may prop up retail assets given the growth in population, similarly medical, childcare will see an uptick in demand.”

Yet the Newcastle market remains robust. 

Bucking the slowdown, Urban Activation Group has netted more than $50 million in sales in just a month on Iris Capital’s $1-billion East End Village project, with Iris Capital chief executive Sam Arnaout announcing the fast-track of the final stages of the project. 

Urban Activation Group director of sales Matt George said the market was firing and most of his team were now based in the regional city. 

“The Iris Capital project is an unique offering,” George says.

“He [Arnaout] is building a landmark that he wants—the detail in these buildings is extraordinary and the architecture is really impressive. 

“Newcastle has had a huge amount of infrastructure spending over the past five years and with the rail network to Sydney the fundamentals are strong.”

The strong sales data supports the longer-term view that Newcastle and the Hunter Valley are among the strongest residential property markets in Australia at the moment. George says local-buyer interest has predominantly led the sales with downsizers from regional properties moving into town. 

Iris Capital is among a number of high-calibre developers who are reshaping the regional city from east to west, including Sydney-based developers Thirdi and WINIM, and Canberra-based Doma Group. 

Thirdi co-founder Luke Berry says investment in local infrastructure is boosting the attraction for people moving to Newcastle.

“Dairy Farmers Towers and The Merewether are sitting at close to 80 per cent sold,” Berry says.

“Being only an hour and a half up the highway from Sydney, we have had a lot of buyers purchase in Newcastle since Covid as they may only have to be at the Sydney office one or two days a week. They not only get more for their money in Newcastle, they also get the amazing lifestyle that comes with it.”

Thirdi has been developing in Newcastle for 15 years but Berry says the buyer profile has shifted significantly over that time. 

“Owner-occupiers and investors alike are craving generously sized properties and a level of finish that has previously been unavailable in the region. 

“In our Dairy Farmers Towers and Merewether Residences projects, never before has it been more important to ensure floor plates are overly generous and that all living spaces have been fully rationalised as well as the inclusion of high end finishes.

“Dairy Farmers is under construction and The Merewether is close to commencing. Newcastle is a desirable city to live and work in, the migration from Sydney due to Covid has helped the city boom and it will continue to grow.”

Another strong proponent of the future of Newcastle is WINIM joint managing director Justin Kuiters. The developer bought up the Newcastle Beach Hotel last year, nestled on the headland between Nobby’s and Newcastle beaches.

Kuiters said WINIM had long been dedicated to Newcastle. The developer recently sold a retail asset and is working with the council on repositioning the Newcastle Beach Hotel as a boutique luxury hotel and residential mixed-use development. 

“Our confidence in Newcastle as one of our preferred regional hotspots, even in the face of the Covid-19 impact, is rooted in extensive research and the fact that Newcastle has sound property and growth fundamentals,” Kuiters says.  

Kuiters says the city’s economic fortunes are tied to key industry sectors, including agriculture, mining and tourism, while the city’s CBD is experiencing strong growth in prime and subprime office markets.

The city is also undergoing a masterplanned transformation of a 50ha former industrial parcel of land at Honeysuckle into an entertainment, tourism and recreation hub at the edge of Newcastle Harbour. 

“The city has strong market and industry fundamentals and the early masterplanning undertaken over the last decade has put the city in prime position for growth and regeneration,” he says.

“Add to this, a surge in demand in regional areas during and after Covid as well as the extensive development activity on the honeysuckle foreshore has further fuelled opportunities for the city. There are now strong values being realised and more investment being targeted for the city, and WINIM has future plans to grow there.”

The developer is hoping to receive approval for its repositioning of the run-down Newcastle Beach Hotel in June, with works planned for later this year.

Doma Group has been given the green light to build its two-tower residential development on the historic former Store buildings site in Newcastle’s West End. The Store Residences will be the final stage of the $350-million transformation of the 8743sq m site at 854 Hunter Street.

The city is also in line for a $100-million investment in Port of Newcastle as a green hydrogen hub, with funding for feasibility studies, detailed designs and early works. 

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Developer Third.i has released the second stage of apartments at its Dairy Farmers Towers in Newcastle, with buyers able to use the innovative deposit-saving platform, Coposit.

The first round sold out late last year, with the project the first in the region to offer a deposit scheme in collaboration with Coposit, which allows buyers to purchase a property with a $10,000 deposit via a fee-free app and the remainder of the deposit paid off via weekly instalments.

Since its launch to market in late 2021, Dairy Farmers Towers has sold over 70 per cent of the entire project, and with demand from buyers continuing to soar amid tough market conditions, Third.i has again teamed up with Coposit to release a new series of Coposit apartments.

With only a limited number of apartments available to purchase through Coposit, Third.i’s Co-Founder Luke Berry anticipates they won’t last long as regional cities across the New South Wales coastline witness continued heightened sales activity despite a slowing market. 

“We’re excited to be partnering with the Coposit team again to release a new collection of apartments for first home buyers. We saw extraordinary demand for this type of offering and we’ve really listened to the needs of the market, particularly in an industry that’s witnessing an economic downtown,” said Berry.

“Here at Third.i, we’re creating homes for all Australians, not just building houses. This scheme offers a chance for prospective buyers to break into the property market who might not have otherwise been able to.

“Works at Dairy Farmers Towers commenced in November last year and we anticipate building works will wrap up in the first quarter of 2025. This project is the heart and soul of Newcastle’s revitalisation, and I can’t wait to see each and every buyer make their new house a home over the coming years.”

Early works kicked off late last year to bring Dairy Farmers Towers to life, which will comprise 180 one, two and three-bedroom apartments, over two towers and, in a Newcastle first, an exclusive residents’ only shared work hub, alongside other blue chip amenities including yoga studio, sprawling outdoor gardens and an elevated North facing outdoor swimming pool and sundeck.

As one of the largest providers of Specialist Disability Accommodation along the east coast of Australia, the project will also offer eight SDA apartments in partnership with iNSiTU Housing.

Third.i’s revitalisation of Newcastle continues following its debut projects WEST Newcastle, Eaton on Union and Stella on Hannell, with Dairy Farmers Towers adding to its growing $4 billion property portfolio across Australia and the UK.

As the group continues to expand internationally, Third.i is also set to deliver a range of residential and commercial offerings across NSW and London.

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