07/12/2020 - 09:56

OP Properties, Carbon Neutral, Investment Positive

07/12/2020 - 09:56


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OP Properties Investment Advisory Committee members: (Left) Mark Lindsay, Evan Campbell (Non-Executive Director), Luke Parker and Nic Osboine (Founding Directors) and Peter Gibbons

OP Properties has secured planning approval for its landmark Fremantle Montreal Commons carbon neutral apartments, a development which symbolises a strategic pivot in the company’s operations towards more of its own syndicated property developments and funds management of established properties.      

In support of this strategic growth direction the company recently established an Investment Advisory Committee headed by some of the sectors most experienced and highly regarded professionals to bolster internal governance, oversee new and existing property investments and support investor relations and attraction.   

The committee includes experienced corporate transaction, advisory and expansion executive Mark Lindsay who is chair of IBMS and has more than 30 years’ experience across retail, supply chain, franchising, finance and mining.    

Real estate technology company director, board advisory and Bethanie Group Chair Peter Gibbons also joins the committee and brings extensive expertise as a former property investment banker, West Australian Football Commission commissioner and as a Landcorp director, a post he held for five years.

Mr Lindsay and Mr Gibbons appointment follows the engagement  earlier this year of non-executive board member Evan Campbell, a highly respected apartment development executive, who has overseen the delivery of over 60 projects or about 3,000 apartments and houses nationally.   

Founding Directors Luke Parker and Nic Osboine round out the five member committee.  

Mr Parker says it is very exciting for Montreal Commons to have gained planning approval and is now able to move into marketing and selling the apartments.

“It’s received an influx of expressions-of-interest from potential buyers mostly locals, some investors, even before formal advertising has begun resulting in a number of apartments already being put under reserve.

“We strongly encourage anyone interested in purchasing an apartment to register their interest via www.MontrealCommons.com.au to secure a spot on the VIP list.”   

Mr Parker says the development, one of the first carbon neutral apartments in Australia, has attracted global media attention as a project at the cutting edge of sustainable development, with 28 different media outlets across eight different countries running articles on the project to date.   

Designed by Hillam Architects, estimates are that it will produce about 240 tonnes less carbon emission a year, or about six tonnes per apartment, compared to regular apartments. 

Importantly, owners reap a financial benefit from the Power Ledger imbedded power network rather than a cost from their sustainable lifestyle, with a 50 percent offset on their strata levies, meaning owners effectively get paid an annual dividend of about $850 for owning a carbon neutral apartment. Distributing the financial benefit via the strata levies ensures investors also see the financial benefit and increased rental yields.   

Construction is expected to commence by mid-2021.

“From the outset Montreal Commons needed to be unique to gain buyer traction in a competitive market,” Mr Parker says.

“By combining a carbon neutral design with reduced owners holding costs and beautiful and functional architecture, we’ve managed to greatly increase its appeal to buyers and approval authorities alike.

“In combination, these progressive initiatives have greatly reduced this project’s commercial risk, so yeah our investors are pretty happy with how it’s all going.”    

Mr Osboine says the time is right to expand OP Properties focus on property syndication and funds management.

“Montreal Commons serves as a good demonstration of the company’s ‘modus operandi’ to think outside the box and work extremely hard and diligently to reduce project risk and find value others miss,” he says.     

The company is planning future syndicated property developments and is actively seeking to acquire its next established passive income producing property.

“I would really encourage wholesale investors, family offices and equity investment groups to reach out for a coffee and a chat to learn more about OP Properties and what we have coming up. We are wanting to build our relationships with likeminded individuals and groups interested in co-investing with us in the future,” Mr Osboine says.  

OP Properties is a boutique property developer and property development consultant based in Subiaco and has extensive experience in built-form property development, project management and superintendency services.

In addition to their own direct investment activities, OP Properties are a very active property development consultant to a range of clients across the private sector, government and NFP spanning residential, aged care, retirement living, heritage, disability, mixed use retail, community and commercial.


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