Media

Over the past 12 years Thirdi Group has been very lucky to be included in a range of media & industry awards, recognised in how we combine traditional property development & investment strategies with in-house developed technologies.

We are proud of our innovative approach to property development and we believe it’s our simple philosophy of ‘Investing where Investments are being made’ that has helped our company secure its place as one of the fastest growing development firms within Australia.

Thirdi Lands Approval for $300m North Sydney Office

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5th August, 2020

Thirdi Lands Approval for $300m North Sydney Office

Thirdi Lands Approval for $300m North Sydney Office

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Sydney developer Thirdi Group and joint venture partner Phoenix Property Investors have received approval for a $300 million office project in North Sydney.

The 10-level office building, located on an amalgamated site between 2-4 Blue Street and 1-5 William Street, will replace existing residential apartments across five buildings.

Thirdi consolidated the site into a premium mixed-use development site, lodging a development application for the site in October.

The developer has now seen its application for the 2,326sq m site approved in just under five months.

Thirdi’s Robert Huxley said despite the potential for the Covid-19 crisis to negatively impact planning, the fast-tracked approval had been reached after concise collaboration with the Sydney North Planning Panel.

“If there is a silver lining to the ‘Corona Cloud’ I believe the crisis has allowed all of us to work together and create an even better building,” Huxley said.

“We used the global pandemic to learn from the challenges that traditional office spaces were facing and ensure our building was designed in a way to deal with a similar crisis in the future.”

▲ Thirdi received approval for the scheme in 4.5 months. Image: Woods Bagot
▲ Thirdi received approval for the scheme in 4.5 months. Image: Woods Bagot

Thirdi sales and marketing director Luke Berry told The Urban Developer that the company would considers its options throughout construction and delivery of the Woods Bagot-designed complex, keeping a close eye on the unfolding Covid-19 crisis.

“In terms of holding onto the asset, or selling it, we will explore all options in the future,” Berry said.

“Our focus right now is to confirm our building partners, secure a tenant and start demolition by the end of 2020 so we can stick to our delivery program.

“After we achieve these milestones we are happy to explore potential fund throughs or other offers on the site.”

The proposal is set to produce upwards of 3,000 new construction and operational jobs in in the North Sydney and sits within close proximity to public transport consistent with the North District Plan.

Thirdi and Phoenix plan to start construction of the office project in early 2021 and aim to finish and lease it by early 2023.

▲ The $330 million office project will on completion hold views of the city skyline, Harbour Bridge and Barangaroo. Image: Woods Bagot
▲ The $330 million office project will on completion hold views of the city skyline, Harbour Bridge and Barangaroo. Image: Woods Bagot

The new A-grade office will yield about 15,000sq m of net lettable area.

Thirdi said the building’s key location near North Sydney’s bus and rail interchange, as well as the future Victoria Cross metro station, has drawn the attention of several CBD based media, healthcare and technology companies.

The office building will join other new office developments, the Nine-anchored tower at 1 Denison Street by Winten Property Group and Dexus’ new 100 Mount Street block.

Projects such as CBRE Global Investors’s 118 Mount Street project have now completed construction while Lendlease’s $1.2 billion Victoria Cross Tower over the Metro Station recently received approval.

Fund manager Investa, with joint venture partner Oxford Properties Group, is also pushing ahead with plans for a major a $500 million commercial tower between 105 to 151 Miller Street.

Other groups such as Mirvac have also used the strata renewal strategy to access commercial sites in North Sydney.

Last year, the country’s biggest residential housing developer Stockland picked up 118 Walker Street and 122 Walker Street, adjacent to its existing office building at 110 Walker Street, for a combined price of $121 million.

https://theurbandeveloper.com/articles/thirdi-approval-north-sydney

Record approval time for Thirdi’s $300 million office project

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28th July, 2020

Record approval time for Thirdi’s $300 million office project

Joint venture partners Sydney developer Thirdi Group and private equity firm Phoenix Property Investors secured development approval from the Sydney North Planning Panel for their North Sydney project in record time.Thirdi and Phoenix plan to start construction of the $300 million office project in early 2021 and aim to finish and lease it by early 2023.

Thirdi and Phoenix plan to start building their 10-storey office tower in North Sydney early next year. 

The 10-floor office building will be built at 2-4 Blue Street and 1-5 William Street after the existing 40 residential apartments across five buildings were demolished.

Thirdi sales and marketing director Luke Berry says the building is well-positioned to deal with the fallout of the COVID-19 crisis.

“We were designing the office building in the midst of the pandemic, so we were able to see the weakness unfolding in the office sector, which gave us the ability to change tack and incorporate some features that would make the building as safe as we can for future crises,” Mr Berry said.

“The building will feature cross-through natural ventilation, where tenants can open the windows and not rely on air conditioning and getting recycled air through the building, which is going to be a massive drawcard for a corporate tenancy.”

“So we’re building an A-grade office, with a fantastic view of the harbour that’s around $300 per square metre cheaper than an office in the CBD.”

Mr Berry said Sydney-CBD based media, healthcare and technology companies have already expressed a strong interest in leasing space in the building.

“We’re in advanced discussion with several potential tenants to secure multiple levels within the building and are currently doing ‘test-fits’ for a number of large tenancies with the goal to announce an agreement for lease as early as September,” he said.

“While there is short-term anxiety about going into the office to work, I don’t see it as a long-term problem. I think for businesses, there will be a flight to quality office assets like this in the future.”

https://www.afr.com/property/commercial/record-approval-time-for-thirdi-s-300-million-office-project-20200728-p55g3g

It’s an extra kick’: New-home inquiries spike as buyers jump on HomeBuilder grant

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17th June, 2020

It’s an extra kick’: New-home inquiries spike as buyers jump on HomeBuilder grant

‘It’s an extra kick’: New-home inquiries spike as buyers jump on HomeBuilder grant

https://www.domain.com.au/news/new-home-inquiries-spike-as-buyers-jump-on-homebuilder-grant-962909/

Q&A with Katie Rea from Property Developer: Thirdi Group

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2nd June, 2020

Q&A with Katie Rea from Property Developer: Thirdi Group

Q&A with Katie Rea from Property Developer: Thirdi Group

Urban.com.au caught up with Katie Rea from Thirdi Group for a Q&A session to discuss how developers are navigating the current crisis.

1. How are you going about things at Thirdi in 2020?

Thirdi finished 2019 in an incredibly strong position having bolstered the development pipeline for years to come. To date, the first half of 2020 hasn’t come without its challenges though as we navigate and pivot into new ways of working, my honest belief is that from these challenges growth and opportunities start to arise. For Thirdi it has been a firm belief that it is “business as usual’ albeit with a twist. Friday drinks are morphed into zoom cocktail hours, coffee catchups are done virtually, and sales inspections have unfortunately been carried out without a friendly handshake. Whilst we are all facing adversity our commitment to ‘innovative brilliance’, embracing change, adopting new technologies and assuming the Australian spirit of ‘having a crack’ are the traits in which will ensure Thirdi can and will deliver on its value proposition for years to come.

In 2020 we are seeing digital take over even more so than the previous 3-5 years. Video calls have allowed us to sell our high-end stock to clients who are currently overseas without them having to physically turn up. We are seeing clients spend more time on our App, looking at views, studying floor plans and watching video content to familiarise themselves with the product before they purchase. With some good luck and good management over the past 6 months, Thirdi is sitting in a good position to slingshot out of this on the other side.

2. How has COVID 19 changed the landscape of marketing for higher-priced stock? 

COVID with all its surprises and unpleasantries has come with its silver linings. As financial markets around the world retreated, pandemonium set in and governments gathered to formulate strategies, savvy investors/owners looked to park capital in high quality, safe haven, asset classes. Over the past 12 weeks Thirdi has exchanged on large volumes of stock in high-quality areas across Sydney and Newcastle. I honestly believe that over this period of time people who knew what they wanted and were in a position to purchase still put their hat in the ring.

Marketing in general over the past 12 weeks has been difficult and has given everyone the opportunity to think outside the box. We were lucky at Thirdi that in the lead up to the shutdown we had some great momentum on our live projects. With completion dates nearing closer it pushed us through the challenging new world that we found ourselves in. Additional learning from COVID is that everyone has had to find more innovative ways to serve their clients and this has opened up a lot of communication between all teams involved throughout the development process.

COVID-19 has provided the industry with an opportunity to pivot, embrace new technologies, scrutinise internal practices, self-analyse, peer review and over-service clients. No industry has been immune to COVID 19 though I firmly believe, post-crisis these best practises will evolve and be implemented. Whether in person or not our lessons learnt have paved the way to give our clients the best experience in purchasing property. Video content is going to be essential in all marketing campaigns and that needs to be supported with digital access to views, digital floor plans, 3D floor plans.

Tech is evolving so fast, it’s going to be amazing to see what comes out of COVID. At Thirdi, we have now rationalised a Chatbot on website and listings so that clients can get an immediate answer while they’re at home. This is active to take clients on the journey start to finish and then be contacted within business hours.

At Thirdi our approach has been to control what we can control. Our best in class marketing practices help to celebrate the extraordinary enlightened developments that we have brought to cities around Australia.

3. Do you see a difference in the lead to sale ratio in the higher-priced stock? 

What I have seen over the past 6-12 weeks is that people who are enquiring are more qualified. Leads have dropped over this period however the leads that we are receiving, and I speak for Thirdi, are purchasing and this is resulting in a shorter time to exchange on a property.