Author Archives: PineProperty

Brookvale Structure Plan: Council Must Conserve Culture and Creativity

In recent years we have seen Brookvale transform into a thriving creative and community hub, however there are widespread concerns that the coming 2023 Brookvale Structure Plan will undermine this.

Brookie’s boom in breweries, coffee roasters, surf manufacturers, industrial designers and artists has revitalised the suburb and been a blessing for local residents and businesses alike.

The businesses – often attracted to Brookvale’s larger spaces, affordable rents, and gritty, industrial aesthetic – have created a strong community that fosters collaboration, idea-sharing, and mutual support.

Their combined success has been aided by the Brookvale Arts District (BAD), an organisation created to maintain and enhance Brookvale’s existing creative and industrial fabric.

However, with Northern Beaches Council 2023 Brookvale Structure Plan proposing 1300 new apartments in buildings of up to 12 stories, there are widespread concerns, that the plan could drive gentrification and destroy the live music and night-time economy.

How Council Can Get The Brookvale Structure Plan Right

While it is inevitable that change is coming to Brookvale, how the Council implements the Structure Plan will ultimately make or break the creative foundations that Brookvale is built on.

First announced in 2017, the latest iteration of the Brookvale Structure Plan is now under review – along with the 305 public submissions – and we will be unlikely to hear any further updates until 2024.

During this analysis period, Pine Property urges Council to ensure the following resources, infrastructure, and investments are allocated to stimulating and supporting culture, creativity and community in Brookvale.

Policies that protect affordable housing: This is a proven strategy that can help artists remain in areas seeing gentrification. However, the Brookvale Structure Plan’s current affordable housing target is only 5 per cent. This is half of Council’s commitment to “seeking a minimum of 10 per cent affordable rental housing to be included in new planning proposals”.

Zoning Regulations: Brookvale’s Structure Plan must protect creative spaces, including designating certain areas as creative zones, or establishing regulations that prioritise the needs of creative communities.

Developer “Creativity Incentives”: Providing incentives to developers such as tax breaks to incorporate creative spaces into new developments will help ensure that as Brookvale expands, so does the culture upon which it is built.

Fund Cultural Spaces: Council must increase funding and support for cultural spaces in Brookvale, such as galleries, performance venues, and artist studios to help support and celebrate the work of local artists.

Involve creative communities in planning: Ensuring that local creative communities, like the Brookvale Arts District, are continually consulted throughout the planning process will help deliver a Structure Plan that is better for everybody.

Creative Use of Public Spaces: Encouraging art installations, performances, and events with local artists – and minimising red tape to deliver them – will drive adoption and help to maintain Brookvale’s cultural fabric.

Risks if Council Get it Wrong

If the above strategies are not embraced as a priority in the Brookvale Structure Plan, we risk losing the artistic values, unique identity and community spirit that has made the suburb famous.

We risk economic loss for all the businesses who have built these values. We risk losing the artists and businesses who have woven Brookvale’s social fabric. And we face a loss of the innovation that creative hubs deliver.

All eyes will be on Council’s revised plan when it comes – likely in 2024.

I’m with the Brand!

Manly has long been renowned for its surf and fashion labels such as Billabong, Oakley, Tommy Bahama, Ghanda, and other brands.

Now, these clothing labels are also increasingly receiving competition from non-traditional retailers who have built popular local brands and a strong community following.

Manly favourites, Rollers, Butterboy, Lox in a Box, Pocket Pizza and Captain Sip Sops are a few such brands who have made a name for themselves as local fashion retailers.

In fact, it is not uncommon for people to enter these stores, or visit their websites, and purchase apparel but not the primary food or service they are famous for.

While you might not traditionally associate a gourmet croissant, cookie, or pizza with clothing – unless you have been indulging in too many of them and need the next size up – there is a growing global movement of brands using merchandise as a mechanism to connect with their tribes.

Pine Property takes a look at five of the key reasons you should consider merchandise as a strategy in your business.

Keep in mind, that simply printing off a few tees with your logo on them is unlikely to have the desired effect. You require strategy on how your merchandise will deliver on the below points.

Personify Your Brand: While branded merchandise is not a new concept, clothing is increasingly being used by brands as an extension and personification of their values and identity.

Because clothing and its associated styles and designs enable brands to tangibly represent what they stand for, and enable people to experience the brand outside of consuming its product or service,
merchandise is a powerful branding tool.

Connects Customers: As well as being a walking billboard for your business, branded clothing also reinforces the connectedness of your customers by giving them a mutual sense of belonging to a
movement.

Working with local artists and designers who also align with your brand values will further reinforce that community connection and “tribe”.

Digital and Content Marketing: Communicating and collaborating with your community around clothing designs and ideas is an excellent way to engage your social audiences.

Branded merch can also provide a steady stream of user generated content from customers wearing your designs, to help feed the insatiable appetite of digital audiences.

Gifting Strategies: Merchandise giveaways can be used as a strategy to engage with local micro-influencers and to stand out among a sea of competition on social or local media.

Additional Revenue Streams: With the right product, designs, and a loyal customer base, it is quite possible to generate a solid revenue stream from merchandise. While it might not pay the bills on its
own, it is likely to more than cover costs.

Christmas 2022: Retail Spending Forecasts and Strategies

Retail trading conditions over Christmas 2022 are forecast to remain resilient, despite economic headwinds from inflation, supply chain issues, and interest rate rises, according to retail specialist, Brian Walker.

The news will be cautiously welcomed by retailers who usually turnover 30 to 40 power cent of their annual revenue – $58 billion nationally – during November, December and January.

“Optimistically, I think we will be there,” Brian, the CEO of Retail Doctor Group. says, citing high household savings and many being ahead on their home loans.

“There is money in the economy. Paradoxically, we have seen increased retail sales through the last quarter. However over the next three to six months we anticipate that people will tighten up and be more mindful of expenditure,” he says, adding that further unexpected rate rises may impact these forecasts.

“Interest rate rises have an inverse relation to people’s spending.”

How retail businesses can stand out at Christmas:
– Embrace the community
– Sharpen your Point of Difference (USP)
– Leverage your location
– Strong omni-channel business model
– Informed and competitive pricing strategies
– Robust supply chains
– Well-trained staff
– Staff recruiting and retention framework
– Well-planned marketing and promotions
– Database and loyalty strategies
– Socially conscious business and products
– Fulfillment and delivery solutions

Online Booming But In-Store Critical

Around 20 per cent of Christmas 2022 purchases will be online, with some industries being much higher, according to Brian, who says COVID has seen mainstream adoption of e-commerce.

And the remaining 80 per cent will also likely be highly influenced by online research.

“Shoppers spend an average of five hours a day on their smartphones and are pre-researched more than ever,” Brian says, highlighting the importance of a strong omni-channel offering and online presence.

“Browsing at the shops is becoming less prevalent. Now, people build their shopping list online and then go to the shops to consummate the purchase. This consummation means that the in-store experience remains as critical as ever,” he says.

Retailers should also embrace their community and leverage the benefits of their location and use that to inform and enhance the shopping experience to help stand out from the competition.

How Else Retailers Can Stand Out

As well as an omni-channel business model, retailers require a strong brand and a unique product supported by robust supply chains, well-trained staff, and a competitive, informed pricing strategy, according to Brian.

Planning for Christmas 2022 should have begun in August or September, and include shoring up supply chains, recruiting and training staff, and planning marketing and promotions.

Brian encourages retailers to leverage their CRM and customer database to work their loyalty programs to drive repeat business from current or previous customers.

Socially conscious and environmentally aware businesses and products will also have an edge, especially among millennials who value recyclable and biodegradable products and packaging, along with knowing a product has an ethical origin.

Fulfillment and delivery strategies are also important as we see increasing levels of home deliveries and subscription business models and partnerships with services like Amazon and Uber.

“They call it ‘The Last Mile’. It is the idea that instead of me going to the shops, the shops will come to me,” Brian says.

Discounts, Promotions and Sales

While the Chrismtas sales were once reserved for Boxing Day, they now traditionally begin with the Black Friday sales – this year on 25 November 2022 – however many retailers now start their sales as early as mid-November.

Discounting might help you move product, however maintaining margins requires having a differentiated offer and knowing the products in your category that will be winners and ensuring you have adequate stock, according to Brian.

Why do retail shops sit empty for a period of time?

Empty retail properties often see landlords criticised by the market and local communities for asking too much rent, however there are other complex and interacting factors.

While some landlords do have unrealistic rent expectations, other factors that lead to properties sitting vacant for extended periods include local market conditions, the pressure of online retail, state and local governments, the lengthy process of required due diligence, and also unrealistic tenants.

Speaking to Pine Property on the condition of anonymity, an asset manager for a non-institutional private client with a national representation in retail and commercial property emphasised the importance of factoring these underlying variables.

Reading the market:

“Landlords have to understand where the market is going. It is not like it was 20 years ago. There is no question it is much harder for retailers,” the asset manager said.

He added that sometimes, both landlords and tenants don’t read the market, often to their detriment.

“If you don’t move fast enough the landlord can lose a tenant, or the tenant can lose a property.”

“You must act quickly and to do that you need to be getting info from a good agent and do your own research so have the evidence and market intel to move quickly,” he said.

Location:

A property’s location has a huge impact on whether a tenant believe they can operate a business successfully from it, according to founder and director of Pine Property, Patrick Kelleher.

“Some properties are really appealing and never sit vacant, like high profile corner positions, while other shops down the road with limited natural light or foot traffic are always going to have challenges,” Patrick said.

Government:

State and local governments also impact commercial property vacancies, in a variety of ways.

Councils are partly responsible for marketing a region or area to attract shoppers. They must also consider the tenancy mix when reviewing development applications that are often required by many businesses before they can enter a market, further slowing things down.

“You can’t always blame councils for delays either, as the tenant might not have provided the necessary elements required in the application,” according to the asset manager.

He recommends that tenants seek professional assistance for any council applications so as to make the process smoother and expedite approvals.

Another government factor is the recent significant increases in state land taxes and council rates which have affected landlords’ ability to compromise on rent, according to the asset manager.

“Until we see state government help, landlords will have trouble decreasing their rents. Everyone needs to join the party to make it work,” he said.

Due diligence and the tenancy mix:

Part of the application process includes due diligence, which can be complex and lengthy, further contributing to extended periods of vacancies..

“The tenant is going to spend a lot of money fitting out the space, so from their point of view they need to do their homework. Landlords must also evaluate the tenant – their assets, experience, and business knowledge – to ensure the tenancy is not bound to fail in six months,” the asset manager said.

Patrick added: “The lead times in securing an appropriate tenant are usually one to three months but market conditions can easily see that become six or more.”

Innovation is required:

While landlords are often criticised for charging too much rent, the asset manager said the responsibility also resides with the tenant to do better.

“Retailers must be more innovative and smarter than they ever were. They must be switched on when they enter a tenancy agreement, and throughout it, or they will be handing back the keys.”

Omnichannel retailing, technology, and alternative business solutions such as short term leases and pop-up shops are all important considerations.

“Pop-ups are a suck-it-and-see solution for both owners and tenants. It gives both sides the opportunity to see if the agreement will work for them long term,” the asset manager said.

Property is contagious:

Both empty properties and busy strips are contagious. Prospective tenants are less attracted to empty shops and more attracted to bustling strips.

“It often takes the filling of one retail shop by a strong tenant to lift that strip back to a position where other tenants come along and join them,” the asset manager said, adding this furthered the case for landlords to offer short term leasing.

Landlord’s are running a business too:

A property’s value is directly attributed to its market rent thus any decrease in rent will result in a corresponding decrease in the value of the property (Tenanted Investment Analysis), according to Patrick.

“Any astute Landlord conscious of maintaining a level of liquidity with their assets are often less likely to drop rent because it negatively affects the valuation of their property,” he said.

He added that some landlords may accept a below-market rent simply to fill a property, however given the negative impact this has on property values, and the long-term nature of commercial leases, many are reluctant. Some enduring vacancies for extended periods with a stand-off between requested and perceived market rents.

“After all, landlords are running a business too,” he said.

Filling empty retail spaces will ultimately take landlords, tenants and governments being flexible and working together to drive innovation and reach a mutually beneficial arrangement.

Made in Manly

We are 8 years young and it’s important to never let a business birthday pass without eating cake (in our case donuts). A business birthday is an important milestone and it makes us reflect upon and appreciate what we’ve created.

Quite often as business owners, we focus on how far we still have to go; updating the website, putting some of those processes together, rather than taking time to marvel at how far we’ve come. And, we’ve come a long way from where we were 8 years ago. A man and his phone. Literally.

As the business owner, you aren’t just wearing one hat. You wear every other hat, role and task it takes to keep the business moving. Yes, it’s hard running a small business. You have tough days and setbacks. But these are also balanced out by being your own boss, building something of your own and making your own success. Passion is what got us started and it is the fuel that keeps us moving forward and growing.

All the highs and lows, accomplishments, the great folk we get to work with, our clients, our suppliers, friends and mentors – a big shout out to you.

So for fun, we have created “In the Year 2014” to share some of the significant events that happened in 2014.

Lastly, show your support for small businesses. When you support local, your dollars stay in the community and help local development. This as a result makes a positive impact on the local economy. In most cases, small businesses are the heart of a community. A healthy presence of small businesses ensures a community and neighbourhood preserves its character and appeal. So, follow them, like their posts, write that recommendation, tell people about their business – it all helps.

What insurance should landlords and tenants have – and what do they cover?

Landlords and tenants are commonly incorrectly insured, underinsured, or think they are covered when they are not, according to a northern beaches insurance expert.

Common pitfalls are landlords and tenants thinking the other’s insurance will provide cover; insurance being rendered void because of a change of use by an existing tenant or a new tenant; and people not opting in for certain options such as flood cover, according to managing director of business insurance specialists, BIA Group, Andrew Herrett.

“Issues often arise because business insurance is more complex and tailored, whereas insurance packaged for consumers such as car or home insurance is generally simpler and offers broader coverage with more automatic inclusions,” he said.

“There are greater expectations on business owners and commercial property landlords. They are expected to understand a lot more about their responsibilities”.

What does your business insurance cover?

Landlord Insurance:

The level of cover varies between policies and insurers, however typical landlord insurance is limited to hard assets, loss of rent and liability. However, do not expect anything to be insured by default. Always double check.

Importantly, when insuring a building (for commercial, industrial or retail use), attention needs to be given to whose responsibility it is to cover which fixtures and fittings.

“If a tenant moves in and makes amendments: whether a renovation, upgrades or improvements, the landlord must understand who is covering these improvements and when the responsibility transfers from tenant to landlord.” Andrew said.

As a basic rule of thumb, whoever pays for it insures it. It would be the tenant’s internal contents insurance that would provide cover for what they own and operate within the confines of the landlord’s premises: from a kitchen fit-out, to upgrades to 3-phase power, to carpets, desks and computers.

“There should also be different layers of protection afforded the landlord in the tenant’s insurance which can provide the landlord more security,” Andrew said, adding that this means landlords should require their tenants show proof of insurance prior to their lease commencement and each year upon renewal.

Which insurances should landlords require of tenants?

Public Liability (Non-negotiable requirement):

In almost in all cases the tenant’s public liability insurance will include cover for the property they are tenanting (if they damage it). Additionally, if someone is injured as a consequence of the tenant’s activities, the right public liability policy will also protect the landlord should they be caught up in an action for the injury.

Internal Contents Insurance (Highly recommended requirement)

Covers the tenant’s property and improvements, including those items they might leave behind after expiry of their lease.

Cash Flow Cover / Business Interruption Insurance (Optional requirement)

Assists the tenants to meet their rental obligations following a loss or business interruption. This is often not insisted upon however should be looked upon favourably by landlords.

“Practically and commercially, the more you insist from a tenant, the more difficult it becomes to lease your property, however public liability insurance should be non-negotiable. Most standard leases automatically require tenants to have public liability and glass insurance,” Andrew said.

Insurance is subject to the tenant and their activities

Business insurance is based on the stated activities of the business. An accountant’s office carries a different level of risk to a mechanic’s workshop, to a hazardous materials storage facility.

“If you bring in a new tenant, or your tenant changes their operations and the landlord’s insurer is not notified, the landlord may be denied a claim”, Andrew said, adding that landlords should have “change of tenant and activities clauses” in their lease.

This not only provides the landlord an avenue for recovery should the tenant void the landlord’s insurances, however it also serves as a mechanism to recover increased costs in insurances for these changes.

Not having this clause or not knowing the tenant activities have changed is no excuse, according to Andrew.

“Landlords are expected to have a higher threshold of understanding these things and have checks in place such as a commercial property manager conducting routine inspections,” he said.

Furthermore, the insurer must be notified of any form of construction works and renovations. They will decide if that has any impact on policy coverage and pricing. Failure to notify them may result in a denied claim.

The landlord also has an obligation to keep the insurer informed of changes in insured values. This goes for rental income figures and building replacement values. Andrew warns all property owners to consider obtaining a Quantity Surveyor (QS) report to ascertain correct replacement values of the building insured. Consider also that build costs have increased dramatically in recent years.

Floods Insurance

With the recent 2022 northern beaches floods, many businesses faced damage to stock and fixtures and fittings without insurance cover.

“Flood cover is something you must elect in. It is generally an optional extra and should be taken by the people who operate in a geographic position that lends itself to flood exposure,” Andrew said.

Net leases are preferred by landlords:

A net lease that charges outgoings (such as insurance) in addition to rent is the preferred option among landlords, rather than a gross lease that includes outgoings.

One reason is that if a tenant changes activities and attracts a higher insurance premium, that increase will be paid for by the tenant. However, if a gross lease is in place, then the landlord will face these increased premiums, unless there is an appropriate recovery clause in your lease.

Andrew also warns that if a landlord does not have a lease, or a tenant’s lease has expired and they roll onto a month-to-month lease, they are asking for trouble.

“There is no condition or requirement for a lease, but the absence of a lease creates risk. For example, you have no control over change of activities”.

Professional Assistance

Brokers: Given the complexities of business insurance, landlords and tenants are encouraged to engage a business insurance specialist such as BIA Group who will assist businesses in selecting insurance, and in doing so is an act of mitigating risk in and of itself. Several business packages can also be selected that offer wider cover across multiple risks.

Commercial Property Agents: Using a specialist commercial property agent with an understanding of the various risks and insurances for both landlord and tenant, and with processes in place to minimise the chance of an oversight is also highly recommended. Pine Property has numerous guides and checklists to help you consider your options.

The New Brookvale – Structure Plan 2022

Once exclusively the domain of mechanics and construction supply companies, recent years has seen Brookvale transform from an industrial business district into a thriving cultural hub.

First it was the breweries such as 4 Pines and Nomads, along with a few brave restaurants. They attracted weekend crowds and saw Brookvale become a serious option as a destination.

Despite being tucked away in the back of Brookvale’s industrial district, their offering was solid and business boomed. They were quickly followed by others, including the more recent arrival of Manly Spirits Co, Barrell One Coffee Roasters, and the Brookvale Arts District (BAD) – an initiative that creates awareness around businesses, opportunities and activities in Brookvale.

2017 and 2022 Brookvale Structure Plan

In 2017, Warringah Council released the Brookvale Structure Plan, laying bare their intentions to transform the suburb into a desirable destination with mixed-use development including offices, retail, services and housing.

With manufacturing-related employment expected to decline, the Council announced it would rezone Brookvale’s industrial areas to allow for additional permitted uses and drive local jobs growth and a “net increase in employment floor space”.

For the past five years council has been analysing community feedback on the initial plan, and conducting employment and transport studies, to feed a revised 2022 Brookvale Structure Plan, scheduled for release this year.

As is often the case, the foundations of the original 2017 Brookvale Structure Plan are likely to remain, which will see a decline in exclusively industrial zoning, an increase in mixed use and commercial zoning, and an extension of the town centre with minimum levels of retail and commercial floor space. Maximum building heights are also set to increase – to 21m in the in the Town Centre straddling Pittwater Road, and 15m in the Transition Area, according to the 2017 plan.

Retail, while included to some extent in the Brookvale Structure Plan, will likely not be a primary focus, with Warringah Mall seen and supported as the major retail centre for the Northern Beaches. No changes have been proposed to Brookvale Oval or the adjoining park to the north.

Early Adopters and Where The Growth Will Be

To date, much of Brookvale’s art and cultural growth is in the gritty and grungy industrial district on the eastern side of Pittwater Road. However, with a large part of the Brookvale Structure Plan focused on activating the Town Centre, the future will also see increased demand for property on Pittwater Road.

For now, though, demand for property on Pittwater Road is coming from tenants who are unable to secure property in the industrial district due to zoning restrictions.

One such early adopter is Manly-based pizza icon, Pocket Pizza, who have a reputation for epic pizza, embracing low-fi, and drawing big crowds to non-traditional destinations, such as at their Manly restaurant on Pittwater Road.

Dylan Eisenhut, one of the Pocket Pizza founders, opened their Brookvale restaurant in March 2022 and said the suburb was the only location they considered for a second store.

“We only really had eyes for Brookvale. It is an emerging destination with breweries and speciality coffee and getting on board with that movement was a great opportunity”, he said.

“It was also a geographical decision. It was far enough away to expand our client base without consuming too much of our existing market, but close enough to take pressure of the Manly restaurant,” he added.

It was not all smooth sailing though. They worked for five months trying to secure a 140sqm site in Brookvale’s industrial district on the eastern side of Pittwater Road, however the restricted zoning there saw them settle on a 30-seat restaurant with a separate takeaway section on Pittwater Road.

“It is going great. We are expanding our client base and building a name in Brookvale where there will be big population growth,” Dylan said, adding that he is keeping an eye on the Brookvale Structure Plan to continue with Pocket Pizza’s business plan.

“Our long-term vision for Brookvale is to establish a large manufacturing kitchen that is both a restaurant for locals and able to service multiple smaller sites.”

Small business strategies for managing inflation, supply chain and staffing challenges

It is no secret that inflation is wreaking havoc on Australian small business in 2022.

The cost of goods and services rose 2.1 per cent over the March 2022 quarter, lifting the annual inflation rate to 5.1 per cent and triggering a pre-election interest rate rise.

A combination of factors have contributed to this inflation, many of them related to COVID which saw huge cash handouts in stimulus packages, supply chain challenges, and labour shortages, combined with cheap debt due to historically low interest rates.

In some industries, such as construction, materials costs have gone up 100 per cent, according to Paul Groenendyk, a CPA and Director of Dee Why accounting firm, Mair, Mansfield and Co.

“Prices have increased for all businesses, both from a materials shortage perspective and in labour costs,” Paul says.

While Australia’s quarterly Wage Price Index is not announced until May 18, 2022, Paul says he doesn’t need the Index to know that wages are increasing.

“Just by looking at the businesses I deal with I can see there is quite a bit of movement. A lot of businesses are losing staff, and not just to competitors offering higher wages, but to different industries. There is definitely some truth to the great resignation,” he said, adding that the impact of this is exacerbated by a shortage of foreign workers.

How inflation quickly impacts business profit

For those businesses who operate on lower profit margin products sold at high volume, a 5 per cent increase in costs can quickly erode their profit margin, Paul says.

Giving the example of a business with a $1 million annual million turnover at 10 per cent net profit ($100,000), Paul explains how only a 5 per cent increase in costs will reduce that net profit to $55,000 and a 10 per cent increase will reduce it to $10,000.

“Now, more than ever, businesses must be acutely aware of their financials. You must deeply understand your business income and expenditure, both today and in a variety of forecasted scenarios, so you can adjust your pricing accordingly. You do not want to get to a point where you are not making a profit.”

Strategies to minimise risk

Raise your prices: This is the obvious response, however raising your prices carries the risk that customers who have grown accustomed to paying a lower price will take their business elsewhere or purchase less often.

Paul suggests clearly explaining to your customers that your costs have gone up and that you have absorbed this cost increase until now, but that you are unable to continue to do that and remain in business.

He also suggests considering a staggered price increase to minimise the shock, and encourages price rises to be considered and calculated to account for both your financials, and competition.

Avoid fixed price jobs: Pauls warns against fixed price jobs, especially in times of inflation. If you have a long job delivery window and your costs increase during that time, then you may lose money on that job.

Reduce inventory lines: You can look to reduce low-margin goods or services and focus on delivering those with higher margins. This is especially beneficial when you have a lack of staff, so they can focus their time on more profitable work.

Increase stock: If a product is seeing high inflation, buying and holding more stock can help increasing your competitiveness, or profit margin. Stockpiling critical supplies can also minimise the risk of disruption from supply chain issues.

Evaluate your supply chain risk: Consider establishing alternative supply chains and suppliers – both domestic and foreign.

Watch your debt: Be diligent on credit checks, credit limits, invoicing, and payment terms.

Why the Prospect’s Mindset is Crucial to Commercial Real Estate

Understanding the mindset and unique requirements of your various prospects and pre-emptively or quickly delivering information that meets these is critical in commercial real estate.

This core skill separates high performing agents from the competition and is built from experience working with various prospect personas and having the empathy to understand their mindset and unearth their true desires.

Different prospects will have different mindsets, based on what they are trying to achieve, how you came to be communicating with them, past experiences, and countless other unknown inputs.

Common mindsets include that your prospects are busy, they feel interrupted, they are wondering who you are and how you differ from the competition, and they want to know what is in it for them.

All of these must be considered and addressed within the first few sentences of communication, as well as any other prospect-specific mindsets, to show you understand your customers and can efficiently satisfy their requirements.

For example, a prospect looking for premises to establish a new restaurant will have a different mindset and requirements than one looking to establish an industrial business.

Being able to quickly understand and address your prospect’s mindset and pain points is crucial.

Know Your Prospect:

This is particularly important when canvassing for potential operators for a listed property. The appropriate target prospects must be identified based on internal database and external research. Both the individual prospect and their business must be deeply understood.

If you contact a prospect without this context and you present an opportunity that is not tied to their requirements or mindset, then the opportunity is lost, along with the likelihood of any future business with that person.

And given that prospects will likely want to know how your service or listing differs from competitors or the property down the street, it is important to know how to address that in relation to your prospect’s mindset and desires, or any negotiations will be reduced to price.

Qualification with the Right Questions:

Understanding the prospect’s mindset also requires asking the right questions to uncover their true requirements, which are often different to what they state – or even think – they are.

It is then equally important to set expectations. You owe it to yourself and the prospect to ensure that what they are looking for is achievable, and it is important to uncover that early on in to avoid disappointment and lost deals.

This often-delicate process requires gently educating clients on market conditions through comparable properties and by delivering insight into planning, zoning, emerging omni-channel retail trends, and commercial real estate processes, to build trust and long-term relationships.

Essentially, you need to show them that what you have meets their requirements, and if it does not, then show them you are the best person to find and deliver something that does.

The importance of Knowledge and Network

By delivering on the above processes, and meeting your prospect’s requirements, the relationships you develop will provide even deeper insights into their mindset.

This growth in Knowledge and Network enables you to continually deliver improved and tailored services that intuitively cater for the desires of your prospects.

At Pine Property, our eight-plus years of operation and decades of experience in Northern Beaches commercial real estate has given us deep insight into the local market, including tenants, landlords and local government planning controls. This enables us to quickly match prospects with relevant properties while also continually committing to driving new relationships.

Queensie Surf Club secures State Championships. Will be “best event we’ve ever had”.

As proud sponsors of the Queenscliff Surf Life Saving Club (QSLSC) since 2016, Pine Property is pleased to announce that the club has secured the rights to host the NSW Surf Life Saving Championships from 2022-24.

After five years based at Lake Macquarie, the event finally returns to Sydney from 24 February to March 13, 2022, with events across Freshwater, Queenscliff and North Steyne beaches.

The announcement is great news for local businesses with the economic benefit for the region forecast to be well over $10 million through accommodation, hospitality and associated spend, from the 21,000-plus expected attendees.

More than 6500 competitors aged 8 to 70-plus, all of them volunteer surf lifesavers from over 100 clubs in NSW, will attend the event and compete for the State titles.

Northern Beaches Mayor, Mayor Regan said: “This major event will drive our local economy and support local businesses as they recover from the Covid-19 pandemic – especially our hospitality and accommodation providers.

“What a cracking event and something to really look forward to after two years of, basically, crap,” he added.

And Manly MP James Griffin hinted that there may be more to come with council’s strategy to secure large, high-profile, and sustainable northern beaches events to help the economy rebound strongly after a challenging 18 months.

“It will be of enormous benefit to businesses big and small, in Manly, and up and down the northern beaches,” he said.

Pine Property Director, Patrick Kelleher said it is an amazing achievement for the local club Pine Property has sponsored for the last seven years, and a great outcome for local businesses and residents.

“With the club’s unique position overlooking the iconic Queenscliff Beach, and with a newly renovated bar, gym and function space, it is the perfect spot to hold the Championships.”

Competitors will contest a range of events including swim, ski, board and ironman/woman racing, through to beach sprints, flags, relays and surfboats. Other events include the Champion Lifesaver, first aid and rescue/resuscitation competition.

Prominent competitors include Kendrick Louis (Manly LSC) and Jemma Smith (Newport SLSC) who both feature prominently on the national professional Ironperson circuit, as well as former and aspiring Olympians for whom Surf Life Saving is still their greatest passion.

Surf Life Saving NSW President, George Shales said: “We’re certain that 2022 will produce the best event we’ve ever had.”

About Queenscliff Surf Live Saving Clun (QSLSC)

Nestled on the sand of the iconic Queenscliff beach, “Queensie Surf Club” is a club for the whole family that is supported by an incredible local community.

Perfect to involve the kids in nippers, host a function, or tie the knot, the club has a newly renovated bar, gym and function space.

Please contact us if you have any questions, would like to tour the facilities, book a function, or join. We are quite happy to assist.