Family Property

Solving a family property challenge

The Brief

BWI Group was introduced to a family that owns a harbour-front residential site in Sydney’s inner west. The family had DA approval to build a complex of 70 large three-bedroom apartments on the site and had intended to keep a partial holding within the family while playing an active role in the sale of the remainder. The GFC combined with a change in the demand for apartments in the area made this difficult to achieve.

The Response

The market in that area now demands smaller one and two bedroom apartments, meaning a DA resubmission was required. BWI Group identified that an additional level of expertise would be required to deliver a residential development of this scale.

The Outcome

BWI Group brought Walker Corporation to the family to navigate the development constraints, rework the apartment mix on the DA, manage all approvals and take the project through to completion and sale. The family is on track to make a solid return by partnering with the people who have the skills to deliver on this strategy