Property development group Third.i have a busy year ahead, revealing more than $2.5 billion in development projects are in the pipeline alongside an overseas expansion.
The group has already wrapped on several large-scale residential projects on Australia’s east coast, now turning their sights to the international market.
After delivering their debut project in the United Kingdom, a residential development in the South London district of Battersea, Third.i now have plans to commence their second London-based project.
London branch growing amid 2nd project
Third.i have announced their acquisition of a mixed-use development site in South London, unveiling plans to create ‘Graphite Square’.
The residential development will comprise of 160 residences, in addition to 80,000 square feet of collaborative work spaces for use by residents and local businesses.
The group has engaged London-based architectural firm, Ben Adams Architecture, to design Graphite Square.
The development’s design features a strong industrial flare and will be connected by a central public space, with a vision to create a shared area where locals can ‘live, work and play’.
Luke Berry, Third.i’s Director of Sales and Marketing said, “not too many people would be aware, that we have been operating in London now for almost three years and are only weeks away from completing our first major project of close to 100 apartments in Battersea.”
In an effort to support Third.i’s international expansion, Ron Dadd, Co-Founder and Managing Director of Third.i Group UK has relocated his family to London to oversee the advancement of the company’s London branch.
“We learnt a lot about the London market off the back of this project and used it as a springboard into London and we couldn’t be more excited about Graphite Square as this site is the perfect embodiment of our growth as a company.”
Ron Dadd, Third.i
“It’s a project we are very proud of and I look forward to representing the company in UK and continuing our enviable track record abroad in 2022 and creating legacy projects,” Mr Dadd said.
Sydney market set to several new developments
Closer to home, Third.i’s latest endeavour is a luxury mixed-use development in Lindfield, Sydney.
In partnership with Phoenix Property investors, Third.i plan to begin construction on the residential and commercial hub ‘Balfour Place’ later this year.
The DA approved site is currently home to a Coles supermarket, and will soon be transformed into 62 apartments with a brand new Coles supermarket and specialty store located on the bottom levels.
In 2021, amendments were made to the project’s development applications in an effort to reduce the development’s impact on the wider community, with the second phase of construction pushed back to begin this year.
Balfour Place marks the fourth project in the pipeline for the partnership, with the previous project ‘Blue & William’ in North Sydney reaching success in late 2021, selling in excess of $300 million.
Among the group’s other projects in the pipeline are two residential schemes in Newcastle, New South Wales including Third.i’s first venture into retirement residences.
‘The Merewether’ is a joint venture with the Merewether Golf Club and introduces a unique blend of retirement and resort living, set to deliver a new golf club, wellness centre and 148 luxury apartments.
The $200 million project has already proved popular, with close to half of the apartments secured off-the-plan.
The group’s second Newcastle project, ‘Dairy Farmers Towers’, is set to commence construction late this year and features 190 apartments spanning two architecturally designed towers.
A vision for greater disability housing
Also ranking highly as a priority for the property development group is further investment in its iNSiTU Housing division, with an additional 30 Specialist Disability Accommodation (SDA) residences in the works.
The group has already completed several SDA Housing properties along the east coast, and is seeking to create the largest network of SDA Housing along the eastern seaboard with the delivery of numerous projects in the near future.
Mr Berry said Third.i aims to change the future of disability housing, by shifting their focus to targeting superior locations close to transport, shops and amenities.
“Not only do we want to create the largest network of SDA Housing along the east coast of Australia, but we also want to ensure we have best properties possible for our iNSiTU clients and we are thrilled to continue this journey into the new year.”
Luke Berry, Third.i
“Even with the challenges the world is facing with a COVID recovery, there has never been a better time to buy and invest in the type of properties we are creating. We are monitoring a number of exciting investment opportunities both in Australia and the UK and we can’t wait to share the details of them shortly.
“Watch this space as we have the best team in the industry, and we can’t wait to make our projects a reality,” concluded Mr Berry.