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Australian Financial Review : October 17th 2006
FBA 055 43.7ha adjoins Penrith CBD + Station EOI Defence land at North Penrith (Thornton Park) • 43ha (approx) adjacent to Penrith railway station & CBD • Currently zoned a mixture of residential, mixed land uses, general industry, special uses and open space • An exciting opportunity to create a major employment generating and mixed urban development in one of Sydney s high growth areas David Morris John McCann 0412 063 099 0418 230 792 02 9840 0200 02 9840 0203 firstname.lastname@example.org email@example.com www.colliers.com/australia Featured on www.colliers.com.au/66572 Expressions of Interest closing Friday 17 November 2006 *Subject to survey U70293 Ground Lease Opportunity FOR SALE Parnell & Kohimarama, Auckland, NZ • New Zealand ground lease portfolio • Absolutely prime Auckland locations • Perpetually renewable 21 year leases • Available in four portfolios or collectively • Total net income $ 823,887p.a. Peter Herdson John Green +64 21 654 323 +64 21 994 273 +64 9 356 8836 +64 9 358 9882 firstname.lastname@example.org email@example.com www.colliers.co.nz Featured on www.collierssales.co.nz Tenders close 3pm,Tuesday 31 October 2006 U70317 MREINZ BROADBEACH CBD SURFERS PARADISE Development Site - Broadbeach Precinct • Corner location opposite Paci c Fair Shopping Centre, only a short walk to the beach • Total Site area 3,783m2 • Domain -- Tourist & Residential • Residential Density -- RD6 • Building Height -- approval for 9 storeys • Current DA for 90 bedrooms • R.P.D. Lot 10 on RP90652 & Lot 6 on RP203973 Featured on www.colliers.com.au/69559 For Sale by Offers to Purchase closing 4pm on Friday 3 November 2006 Brad Johnston 0412 754 029 07 5588 0088 firstname.lastname@example.org Darrell Irwin 0419 705 419 07 5588 0088 email@example.com U70292 Bunnings Superstore Middleborough Rd Ailsa Rd DA Approved Site - Positioned for Pro t FOR SALE Charity Online Auction Our Knowledge is your Property www.colliers.com/australia Middle of the Action TENDER 249 Middleborough Road, Box Hill • Redevelop or occupy • Huge site: 4.036ha (approx.) • Buildings: 24,131m2 (approx.) • Main road location with dual street frontage Peter Evans Barry Marks 0412 260 555 0413 996 765 03 9612 8832 03 9612 8860 firstname.lastname@example.org email@example.com Featured on www.colliers.com.au/68720 For sale by Tender closing Thursday 16 November 2006 at 4pm It s on again! As part of Colliers International s annual Community Care Week, this year s Make a Difference Charity Online Auction boasts over 80 items including international flights, tickets to major sporting events & concerts, health and beauty vouchers, accommodation packages and more. All funds raised go to selected grass-roots local charities supported by United Way, Community Funds of Australia. Visit our online auction and start bidding now! www.colliers.com/australia/charityauction www.colliers.com/australia/charityauction all the way to ChinaCar parks in car-mad China are part of the strategy. Photo: REUTERS '' Downsizing doesn't seem to appeal a lot to people.'' initial focus but he never finished his university course. Instead, he switched to a building course at the University of NSW realising that he was ''more focused on the delivery than the design''. From university he moved to Papua New Guinea where he worked on building an army camp outside Port Moresby. ThenitwasontotheUK before Hindmarsh relocated back to Australia and shifted to Canberra to work for AV Jennings before launching the Hindmarsh Group. The harsh lessons of the early 1990s led Hindmarsh to significantly diversify the business. It now has five divisions: construction, property, retirement, venture capital and parking. Funds management is the next avenue of opportunity and last month the company launched its first property fund in a joint venture with Babcock & Brown. Hindmarsh says his goal has been to ''aggressively embrace the market opportunities''. Last financial year the company generated revenue of just over $200 million, double what it did three years ago. This year, revenue is tipped to be about $240 million. Construction is still the highest revenue raiser but it is, Hindmarsh acknowledges, a low-margin business. The real profit driver is development ± projects like the group's joint venture Flinders Link office complex in Adelaide, which is in the process of being sold for a record price of more than $150 million. Hindmarsh is also prepared to take some chances. Through his Australian Capital Ventures business, he has invested in a range of start- up companies over the past four years. It is not just philanthropic ± the business turned its first profit last year ± although Hindmarsh says ''watching the younger entrepreneurs and their energy is incredibly rewarding''. One of his investments is Simmersion, a Canberra-based company that has developed a three-dimensional urban modelling tool. It allows developers and town planners to see their projects in a highly realistic virtual environment and assess issues such as overshadowing to help speed up the approvals process and offset potential legal actions. Hindmarsh is using the technology in one of its few Sydney projects, a boutique apartment development at Elizabeth Bay. Other endeavours include a push into the Australian retirement sector. The group is developing five retirement communities, four in Canberra and one in Adelaide. They are all targeted at the top end of the market. While Hindmarsh employs the traditional deferred management fee structure in its villages, the company is assessing different possibilities, such as shared equity mortgages. ''We're all searching for the right model,'' says Hindmarsh of the Australian retirement village sector. ''We're going right back to square one examining every possible option.'' The company is also looking to develop a different style of village to cater for the ''active aged''. ''Downsizing doesn't seem to appeal a lot to people,'' says Hindmarsh. ''There is a very strong market for people who are in the higher socioeconomic group to buy 150 to 200 square metre properties and they still want their two cars,'' he says. Another focus has been aligning with major Australian universities wanting to generate extra revenue from their land banks. Hindmarsh is also in the midst of constituting a company board which will have at least two independent directors. A step towards listing? Not at this time, with Hindmarsh believing the group is not of the size to attract serious institutional support. ''There's this balance between access to capital and the flexibility you have as a private company and I've largely opted for the flexibility,'' Hindmarsh says. The Australian Financial Review www.afr.com Tuesday 17 October 2006 55 PROPERTY