The PROPERTY DOCTORS, Sydney Australia Novak Properties

EP. 1353 BUILDING A BRAND NEW BROOKVALE

• Mark Novak, Josh Wapshott and guests • Season 29 • Episode 1353

Share episode

Get ready to uncover the exciting future of Brookvale! Imagine an industrial suburb transformed into a vibrant community hub with new homes, jobs, and expansive facilities. Our latest episode promises an engaging exploration of Brookvale's 15-year revitalization plan, designed to enhance its residential and commercial appeal. Discover how the strategic relocation of the B-Line bus to Warringah Mall has set the stage for increased residential density and a promising horizon for the area. We'll guide you through the historical evolution and future prospects that make Brookvale a prime location for growth and investment.

Join us as we highlight the burgeoning interest from businesses eyeing Brookvale's potential along Pittwater Road. With brands like BCF and Kaiser Gyms recognizing its promise as a business hub, Brookvale is on the precipice of an exciting transformation, akin to the renowned changes seen in Alexandria. We'll discuss what these developments mean for the community and investors, offering insights from local experts who are shaping Brookvale's future. Don't miss our compelling discussion on the structural plans poised to attract new businesses and services, bringing innovation and opportunity to the Northern Beaches.

Speaker 1:

Alright, beautiful people, brookvale on the northern beaches. Big changes coming and we're going to talk about what happens when these big changes come through in industrial suburbs to the whole community. I'm the ringleader, so let's go. Ah, senor Wappashota, how are you this morning?

Speaker 2:

Very good, Mr Novak, very good, very good. And today we'll be speaking about the big changes coming to Brookvale building a brand, new Brookvale Building a brand new Brookvale and I'm in Melbourne at the moment, just sunny downtown Melbourne.

Speaker 1:

Check it out, check it out, wow, check out what's happening around here. Yeah, yeah, down there it's all happening. Lisa Novak did a big talk yesterday to 400 real estate agents. Wow, and very happening.

Speaker 2:

Lisa novak did a big talk yesterday to 400 real estate agents um and um very exciting.

Speaker 1:

Yeah, yeah, it was great, great to catch a bit of a glimpse of that. So, uh, congrats to lise. So cool, so cool, um. So book book fells in a real interesting one because I like, uh, if you look at alex and andrea, um and what happened to that, to that area, which was a heavily industrial area, and they absolutely nailed it with residential.

Speaker 1:

What I actually find is people pick on councils and communities pick on industrial areas if they want to get further zoning for residential. So I find across New South Wales it's very hard to zone an area as industrial because there's 24-hour industry happening, but it's very easy to turn that industrial to residential. So there is a. And I do say to people that are buying commercial industrial in the Northern Beaches I think it's a good category to be in because it's limited supply and it's losing those uses in those areas. So it's like we're creating more residential, yes, we're creating more commercial industrial zoning, no. So it could be a good category for people. Quick tip it could be a good category for people to get themselves into. I personally have lately, but that morph is now happening in Brookvale.

Speaker 2:

Yeah, exactly right, and I think not only you know you're looking at investment-wise, but also great for the community. Mark, you know a couple of points with the whole brookvale structural plan is, you know the um targeted 13, 1 350 new homes, the area, 900 jobs, um, talking about thousands of square meters of community facilities for the public. Um, it really is a complete transformation and I really wanted to see your perspective here because obviously you've been in the beaches a lot longer than I have and you've probably seen the transition over time, so you know it'd be good to get your aspect on all this and what you see the future being.

Speaker 1:

Yeah, look, it all started, uh, people didn't realize but where it happened a long long, probably about 15, 20 years ago, when they, the commercial precinct, shifted, um, so all of the banks used to be along, uh, pitwood road in brook. The major banks, all the shops were there. That's where people you know the community did. It was just a village, pretty much for shopping and they had the industrial wrapped around it and what they did is they pushed the B-Line bus down to Ringamore and the B-Line bus only stops about five times on its way to the city. So it was quite a big.

Speaker 1:

It was a little move at the time but quite a paramount move now, because now the density that they're actually applying is around that B-line bus and the reason why they're just saying because we've got transport. So when they moved the main bus stop of DY from Brookvale Centre that used to be the main bus stop, which was near H&G Old Pitwood Road, sort of near the TAB, sort of around there when they slid it down half a kilometre towards Ringamore, which made sense because Ringamore was a much, much bigger mecca for shopping, because Warringah Mall was a much bigger mecca for shopping Then now when everyone's like, why have we got 15 storeys earmarked at Warringah Mall and only got five storeys, six storeys earmarked in the old centre of Brookvale and they're just basically saying transport. You know, got the beeline bus, the major bus stop yeah, wow.

Speaker 2:

Yeah, it's quite um quite interesting to see all the you know, proposed plans and it doesn't seem like it's something that's going to take too long a 15-year plan and we all know time flies so it looks like we're going to start to see those changes coming in quite quickly. I believe they're doing some, starting off with some technical studies. They held their meeting on the 28th of November and so it looks like they're getting straight into it. So we should see, should hopefully see, things progress fairly quickly there. And then, you know, brookvale will only benefit out of something like this, don't you think?

Speaker 1:

Yeah. So from the council standpoint they've approved it and just now from a planning standpoint they have to go through all of those tiers and steps of what they need. But 1300 is a lot of units If you want to quantify how many, like Worrywood would not have 400 units um mona val, you know, would be probably sitting about that many units. Dy is doing more units than sydney cbd. Dy's got 10 000 units um so 13 adding earmarking 1350 for brookvale is going to be massive for brookvale yeah, it'd be great and, and it really is an.

Speaker 2:

It's a great little hub down there. I know I've got a little soft spot myself for brookvale. Yeah, it'd be great and and it really is an. It's a great little hub down there. I know I've got a little soft spot myself for brookvale.

Speaker 2:

Um had a beautiful, uh, couple of vendors and purchases move in the area recently. So, um, and it's quite exciting to see what they're going to do with these spaces. So, um, because we have a lot of them that you know sort of runs into that area that you know, if you think something was going to get changed along that sort of Moringa Mall, old Pitwater, you know that's the sort of area to do it, wouldn't you say?

Speaker 1:

Yeah, and there's something cool about it, josh. There's something cool about living in an industrial area that there's a bit of grit. You know Melbourne's very good at it at grit, um, you know melbourne's very good at it, um, at grit, um, you know, you, that your, your alexandria was a very cool place to sort of have your converted warehouse, and marrickville and those sort of areas. So there's, yeah, there's certainly something really really cool about it. That's the residential component. But then there's the industrial component.

Speaker 1:

Where, um, they're going, they've there's an allowance now to go from a height of 11 metres to a height of 18 metres, which incorporates four storeys instead of two storeys. So they've designated two areas as industrial. They've called it Industrial East and Industrial West in Brookvale. So what that actually means is that the beach side I know we're a long way from the beach, but the beach side, the eastern side of Pitwood Road, of Brookvale, they've called the Industrial West. And then there's inside the Industrial West. Furthermore, they've got like an arts precinct. So they want an area where there's a blended residential, industrial, commerce, arts, sort of very small precinct but, yeah, something a bit funky.

Speaker 2:

Yeah, cool because we've got the North Shore, TAFE or the uni just at the back there as well, so that probably will tie into that area quite nicely.

Speaker 1:

Yeah, yeah, so it's around sort of Rogers Street and Green Street around there, dale Street, where the medical centre's tucked in there. So it could be. It's going to be in a potentially pretty funky area, brookvale, a good you know. Would you buy a property with the hope of this, of greater heights and things like that? Absolutely.

Speaker 2:

Yeah, definitely, I think it's definitely an opportunity there and we've seen, even you know, with all these warehouses, new developments within Brookvale. You've got your breweries, you know, you've got your classic yeah, I know there's a couple of good ones down near there. So I mean, it doesn't give me much other than the excuse to, you know, look at there as a potential spot for me because, you know, close to work, I love brookie and I do exactly. Yeah, can't complain there. And then, like you said it, it is a, it is a style of living, sort of that alexandria, that vibe, that rustic, yeah, something a little bit different. What, uh, you know, when you think you're right, you know, within a five minute drive to the beach, you sort of get the um, the mix of both, both scenarios.

Speaker 1:

So very cool. Well, I went to the council meeting. Uh, I've been to a couple of council meetings on on this, these zonings, um, and what was really interesting is the brewery opinion, um, from the local landowners. So the breweries have been, have been such a good thing for the community, so much fun it's given. You know it's good, honest, family fun going to these breweries.

Speaker 1:

But some of the locals in the meetings really have an issue with it due to parking because the requirement they're technically a brewery, so they're a factory, they're making beer, so they have trucks. But then on the flip side, these breweries can have 200 people and the locals are going. Where are these guys parking and the breweries are going. We don't need parking in our planning because we're a brewery. So it's a real, it's it. They've actually they've. They've got a little, a bit of a gray area there where they're operating, operating under.

Speaker 1:

But the nice thing that I like about the breweries is they're generally not operating the same time as the industries, so they're on. We know, if you go to brook, if you used to go to brookvale on a weekend, um, it was, there was hundreds of car spaces everywhere and it was a dead zone and now it pumps on a weekend with all the breweries and then at night it's busy because of the breweries and it was not really busy at night brookvale, so it's sort of it's, it's it's. It's operating on opposite time clock to the industry in Brookfast, so it's actually working practically, I think okay. But yeah, people certainly have a bit of a beef with it.

Speaker 2:

Well, you know it is a difficult task to please everyone, but I see that parking's also been brought up in that structural plan to ensure that they have a sustainable amount of spots with the development of the area along. So it's good that, that being something that comes up just for breweries, they've got that in their back pocket with their plans for the future. So it's good to see that. You know these council meetings, discussions amongst the public. You know they are getting something out of it, and not only getting something out of it, but something that the public and you know all of our neighbours are requesting. So it's good to see that work together and it's good to see that Consulting with one.

Speaker 1:

Yeah To Brookvale. And also, before we go, something to consider is if you are enjoying a third storey or a fourth storey in a building. You need to ramp and you need to ramp up and you need to ramp down. So the blocks that are 600, 700, 800 metres are only about 15 metres wide. When you have a 2.5 metre ramp and a 2.5 metre ramp, you lose 5 metres.

Speaker 1:

So I think what you're going to find is a lot of people are going to start amalgamating blocks, because that's really where the value is. To enjoy the height of four stories, you need to join two blocks, um. So that's going to be a really interesting one for um, for brookfire starting to see people buying. You know, and that's a big investment. If you're buying a block of land for four or five million bucks and then a second one for four or five million bucks, you're in it for nine or ten million um. So that's a pretty serious investment into an industrial property. But the industrial is not getting any residential on top of it. The industrial east and the industrial west is remaining as industrial. The part that's getting the residential is going to be the shop top housing, which is pretty much that artery that goes, which is Pitwood Road. That goes from Ringham Mall, you know, into the centre of Brookie. Interestingly enough, I've been in a couple of meetings with developers, with council. Is the area from Warringah Road to the Brookvale Oval no residential designation?

Speaker 2:

Yeah, wow, that's quite surprising. Do you have any reason why you think they've done that?

Speaker 1:

Yeah, it really upset a lot of people and the reason why is because Ringer Road and Pitwater Road is the second worst intersection in New South Wales, so they don't want to clog up those roads any more than they are. So they've pushed that density for residential up towards the mall. But in one of the meetings that I was in there was talk about they're asking for state contribution to make an overpass and an underpass at the intersection of Pitwater Road and Moringa Road and what that looks like. It's called a portal. They built portals up near the hospital where, right you know when you go down and you disappear under the intersection. So it's very expensive. It's big infrastructure, but can you imagine getting to Warringah Road, people to road and not stopping at traffic lights? Pretty cool.

Speaker 2:

Yeah, no, that's exciting stuff and I think something I also want to touch, like with that area that we've been speaking about in Brookie and along Pitwater I think as well. Like you said, it is a big investment but we are seeing, you know we're seeing quite an attraction for that area, especially for new, finished buildings. We've got a property that's soon to be start construction down at 638 Pitwater Road and the finished plans for a finished product. We've seen quite some cool, cool brands um prospect the area because obviously you know they want a, a destination or a head office, so to speak, for the northern beaches and and that's been a really big target in that brookvale area um, yeah, specifically that site.

Speaker 2:

So I think you know we had bcf, you know we've had um kaiser gyms. A lot of people inquire about the space. So I think with this new structural plan developments being brought in, not only will we physically see the changes in Brookvale but you know we might get some new businesses, new services, new things that we didn't think we would have before that are coming with all these changes and um and and from our point of view, the, the inquiry level on on this sort of stock is has been there people are happy to sort of you know, look at these things knowing they're not built. So I'm quite excited to see the uh, the changes to come to brookvale with this structural plan and and what it's going to look like it's pretty cool.

Speaker 1:

that's brookvale. Um, that's brookvale today, and I think you can apply some of this science to other places you see across Sydney, particularly if you look at where Alexandria is probably the big daddy of seeing that change. Now it's going to be Brookvale. But thanks, mate, thank you for going through. Hopefully we'll help some people on this today, because I'm sure people are driving through Brookvale and scratching their head, going what's happening here, seeing some blocks of land doing nothing, um, so it sort of explains, explains why a little bit people are waiting for this to sort of go through definitely no, thank you.

Speaker 2:

Thank you for sharing your expertise and uh and knowledge mark. See you. Legend cheers.