HOUSING DEVELOPERS SNAP UP WHOLESALE BUILDING MODEL
High profile residential developers and government bodies are embracing the wholesale building model to maximise returns and deliver affordability in a tightening market, with
Creation Homes (the home building arm of Metro Property Development), witnessing a rapid take up of its product within 12 months of releasing it to the New South Wales market.
Creation Homes has reported a strong first year in NSW, signing up more than 200 residential home builds, with plans to increase on this in the 2016‐2017 year.
Creation Homes is currently working with high profile developers such as Stockland and Lend Lease on large residential communities projects across Queensland and Victoria, supplying
housing solutions through its wholesale model. Government agencies are also favouring the wholesale approach, with Creation Homes recently appointed to deliver homes at a new estate in Kellyville.
In addition to this, Creation Homes is also developing its own independent house and land projects in key growth suburbs across metropolitan Sydney such as Eden, a 150 lot project in Catherine Field in Sydney’s south‐west and within the Gables at Box Hill. Creation Homes was formed in 2010 in Melbourne and has since rapidly expanded, delivering over 500 homes in total in the last 12 months. It was recognised in 2013 with a BRW Australia’s 7th Fastest Growing Business award.
“Through the wholesale building model we can deliver brand new architecturally designed homes at affordable prices. Interest from the major players is a true reflection of the market’s need for greater options and acceptance of the wholesale model and we expect to build quite significantly on our first year’s results,” said David Mann, NSW General Manager at Creation Homes.
“Traditional mainstream house and land developers set retail building rates, whereas the Creation Homes wholesale building model allows us to cut out the middle‐man and source wholesale building materials to deliver projects at wholesale building rates,” said Mann.
Affordability is further maximised by forgoing expensive extras often priced into mainstream home builders prices such as in‐house sales teams, big ticket marketing campaigns and large furnished display homes and villages.
Residents set to move into their slice of inner-city luxury at Balwyn
Enjoying the lifestyle and convenience of inner-Melbourne’s highly sought after suburbs, without the hefty price tag, is now a reality as residents move into their luxury boutique homes at Metro Property Development’s Acacia Residences at Balwyn.
Situated on exclusive Banool Road, Metro’s Acacia Residences was completed this week with settlements now underway with buyers who secured one of only 12 architecturally-designed three and four-bedroom homes.
Metro State Manager – Victoria, David Steele, said the luxury development, which sold out within two weeks of hitting the market, was completed ahead of time with residents set to move in over the coming weeks.
“Our Acacia Residences at Balwyn blitzed the market when they were launched last year, showcasing the buyer appetite for new boutique developments in one of Melbourne’s most popular suburbs,” Mr Steele said.
“The new boutique homes provide the right mix of lifestyle, luxury and location and we are thrilled with how the development has come together. We are very excited to see residents take ownership of their new homes over coming weeks.”
With an average price of $1.35 million, the exclusive development was popular with both downsizers and young families looking to secure their piece of the Melbourne property market.
“Balwyn is one of the city’s premier suburbs with great amenities and excellent schools. This, combined with the high-level of luxury detail on offer at Acacia Residences, proved very popular with both locals looking to downsize and also young professionals and families who are keen to get a foothold in an established and leafy suburb,” Mr Steele said.
Built by Metro’s building arm Creation Homes, the development offers enviable and rare Mews style living, landscaped gardens and innovative floor plans to suit a variety of lifestyles.
In addition to Acacia Residences, Metro currently has three other boutique developments under construction including The Lincoln South Yarra, Saxon Residences at Ivanhoe and Highbury Townhomes at West Footscray.
In addition, Metro is working on development plans for recently acquired sites at South Kingsville and Maidstone, in Melbourne’s up-and-coming inner-west.
Metro buys Homestead Homes business
As part of the sale of the assets of the Homestead Homes business the appointed liquidator, McGrath Nicol, sought expressions of interest for different parts of the business. Metro Property Development was successful in their bid in purchasing all contracted and non-contracted Homestead Homes client files and the associated intellectual property in relation to those files.
In addition to working with QBE Insurance on existing Homestead Homes jobs, left incomplete after the business went into liquidation, Metro is now working with all other Homestead Homes clients who had
signed contracts and were yet to commence building.
Director of Metro Property Development SA, Steve Weightman, and his team look forward to commencing work with all Homestead Homes clients to offer a smooth transition into the Metro business. Metro SA is locally based in Hindmarsh Square, Adelaide and directly employs 33 South Australians and several hundred contractors across its projects.
Metro,as confirmed by the HIA, is a top ten residential builder that operates in five states with a project pipeline valued at more than $2 billion. Our local staff will be in touch with all relevant Homestead Homes clients. In the meantime feel free to contact us on 8100 0900 or visit our website www.metropropsa.com.au for further information.