“Developing insights”
Conversations on Sunshine Coast Property
This is the first in a Sunshine Coast-specific series focussing on the most influential people in the property industry. In the series we will try to understand the trends, the drivers of change, the opportunities and challenges facing the region. We hope you enjoy it.
Today’s influencer is Blake Bell, a Director of Murray and Associates, one of Queensland’s longest standing, most reputable surveying and town planning firms. Blake was in conversation with Andrew Pitcher, Managing Director of Highgate Developments.
When did you first get interested in the development industry; how did you get your start?
My father is an Architect and introduced me to the field of Town Planning prior to finishing my secondary education. I was interested in geography and graphics in High School which relates to various facets of Town Planning so I opted to study a Bachelor of Regional Town Planning at the University of Queensland. I got my start at Murray & Associates during my last year of University in 2003. I would say that my first interest in the development industry was by observing a number of commercial projects that Dad was working on come to fruition and then during my university studies where I undertook an urban renewal assignment for West End, Brisbane. However, I can honestly say that it wasn’t until I started at Murray & Associates and started practicing Town Planning that my passion for the industry really kicked off.
Who has been the most influential person in your professional education and why?
The most influential people and mentors in developing my skill set were the Directors of Murray & Associates when I started in 2003. Being such a long standing firm, the wealth of experience and knowledge that I learnt from the four practicing Directors at the time was more than I could have hoped for to kick start my career.
The Sunshine Coast is a notoriously cyclical economy. What are the main strengths of the development industry on the Coast?
I think at the moment, the major strength of the Coast is the uniform approach to development and sustainable economic growth. I get the feeling that the Local Government and key consultancies on the Coast all agree where they want the industry to be and everyone is working hard to achieve that goal.
What has changed in the last 10 years in the industry here?
Obviously with the economic downturn in 2008 and 2009, the Sunshine Coast suffered. However I think in light of some of the major projects up and coming on the Sunshine Coast, including the Maroochydore CBD, the University Hospital, the urban revitalisation of Ocean Street (inc. Big Top Shopping Centre) and the general expansion of the Coast in terms of major developments, the Coast is coming back into the spotlight and will continue to grow from here. I also think that local firms and Council are working well together and have a uniform idea as to what we want to the Coast to look like in the next 10 years, which will lead to some great outcomes into the future.
Overseas investment appears to be here to stay in the Sydney and Melbourne markets. Do you see any overseas investors entering our development market at scale? If not, why not?
I think the Sunshine Coast has never really had the space or the premises to accommodate major overseas investors, mainly because we have never really marketed ourselves as a key destination solely for the purpose of operating large scale business, like places such as Melbourne and Sydney. However the development of the Maroochydore CBD will certainly help to address that by establishing a city centre and core, providing large floor spaces and impressive building designs that are typical of a CBD and consequently, I think this will attract some big players.
What has been your most significant / favourite project here on the Sunshine Coast?
I get excited on all range of projects, big and small, for various reasons. Nothing pleases me more than achieving a good outcome for a developer or a family undertaking a small lot subdivision and sharing in their excitement. I also enjoy seeing commercial developments completed and them merge into the community post construction.
How could the industry improve?
I think we are finding the right balance here at the moment between maintaining the coastal lifestyle whilst also being conscious of the need to generate some positive change to ensure we don’t lose our appeal as a location with a lot to offer those looking to invest here, move here, live here and grow up here. I think the Coast was a bit sleepy for a while there, but we are finally awakening the potential that we have here and if we continue to build on that, I think the industry has, and will improve tenfold.
What does the next five years look like here on the Sunshine Coast?
As I’ve mentioned, there are definitely some key projects happening in the area that are going to continue to propel the Sunshine Coast into the limelight in a really positive way and also some longer term projects like the Light Rail which will complement the direction we are headed. I think we all agree that the Coast is going to boom over the next five years, particularly in terms of development which is really exciting for those of us in the industry. I also think the development that is happening is expanding outside of the usual tourism generating uses which have resulted in the Coast being ‘stuck’ for many years. Now we are broadening the spectrum to establish some stronger, more reliable sources of investment through health care, education and professional growth and encouraging greater diversity in the area, which we really needed.
There has been a lot of discussion around residential land shortages around the Sunshine Coast. What is your take on the demand / supply balance at the moment?
Whilst there are some major greenfield sites on the Sunshine Coast, such as Caloundra South, these parcels of land are owned by major corporate firms and therefore there are some limitations to the availability of land elsewhere in the region. However, in saying that, there are smaller greenfield sites on the fringes of the various townships which are owned by smaller scale developers and under the new Sunshine Coast Planning Scheme, there are now increased opportunities to develop these areas via ‘Emerging Community’ zoning allocations. It is inevitable that the Sunshine Coast is growing and expanding and along with it, so will the demand for residential land. Whilst I appreciate the concept of infill development with increased density (i.e. building up), I think we need to keep looking for strategic unconstrained greenfield sites on the fringes that are appropriate for urban residential development to keep up with the low density housing demand.
April 2015
