A different market is forecast for 2016, with commentators expecting the residential market will cool in New South Wales with prices set to ease. While alarm bells may ring for some, others, including Metro Property Development, see nothing but pure opportunity.
Metro is one of Australia’s leading privately‐owned integrated residential property developers and wholesale home builders. Offices are located in Melbourne, Perth, Brisbane and Adelaide with its Sydney branch launching most recently in 2015. Building on the successes it has achieved interstate, Metro endeavours to make the most of the expected shift in the market and form a strong portfolio of developments in New South Wales.
With the forecast shift in the residential sector, Metro believes investors will become more active, seeing the opportunity for increased growth. In addition, some conservative or over-committed developers will seek to offload projects, giving Metro the opportunity to acquire prime sites in quality locations.
Metro has rapidly expanded since its inception in 2010 and currently employs 142 staff nationally. The company was founded by respected property identities Luke Hartman, David Devine and Ken Woodley.
General Manager David Mann heads up the New South Wales team in its North Sydney office that brought Metro into the market in January, 2015. A huge milestone was later reached in October 2015, with Metro ranking second in the BRW Fast 100.
“A key point‐of‐difference for Metro is our dedicated wholesale townhouse and home building business, Creation Homes,” said Metro General Manager David Mann.
“We don’t have the same overhead structure as most of the retail project home builders, so our build rates give us that competitive advantage.”
Creation Homes was also recognised by BRW as the 7th fastest growing company in 2013.
The company builds for other major developers, some of them high‐profile Australian companies, as well as for its own home and land buyers and smaller land owners who need a delivery partner and housing solution for their land holdings. It is renowned for excellence in client relationships, contract administration, workflow management and construction management.
Metro recently closed a $65 million corporate financing from Credit Suisse to fund growth opportunities and ongoing working capital needs. It has delivered more than 5,000 homes and apartments across Australia in the last five years and has a development pipeline valued at more than $3.1 billion.
Its pipeline of projects in New South Wales for 2016 is strong and includes a $270 million luxury townhouse and apartment development overlooking the Strathfield golf course, as well as the construction of dozens of home and land packages in The Ponds and Kellyville in Sydney’s North‐West.
“Our approach is to strategically choose locations for developments set within key growth areas in Sydney, as well as setting more affordable prices for buyers without compromising on quality,” said Metro General Manager of Marketing & Sales Phil Leahy.
Eden, a 150 lot estate in Sydney's Catherine Fields.[/caption]Metro and Creation Homes are in the midst of launching Eden, a $56 million residential estate comprising 150 lots in flourishing Catherine Field. Located at 719‐735 Camden Valley Way, Eden offers a range of new architecturally designed homes and for the first time in the area, buyers can choose a smaller two bedroom home. The estate offers generously sized two to five bedroom house configurations priced from $465,000.
The packages at Eden are designed for young families and empty nesters looking to downsize, and even upgraders looking for something new that comes with a full turnkey offering.
While some may fear the forecast shift in the New South Wales market, Metro remains very optimistic for 2016. Metro anticipates that investors will become more active in the market and plans to seize the opportunity to snap up prime sites in quality locations as over-committed developers seek to offload projects. This approach will be coupled with the continuing strategy of setting affordable prices in key growth areas across Sydney, positioning Metro as a key industry contender for the years ahead.