Realising Value

Union Place

Jannali, New South Wales

Year of Purchase 2015

Acquisition Price $75 million

Realised Return >20% p.a

Asset Class Residential, Hotel, Retail

Project Highlights
  • Investment strategy: acquire> develop> sell
  • Obtained development approval
  • Uplift of 65% in value within 14 months of acquisition

White & Partners recognised an opportunity in the Jannali Hotel to transform an underutilised land holding of 4,249sqm into a mixed use development consisting of residential apartments and a ground floor tavern. Paying an acquisition price of $10 million which included the land, hotel, gaming entitlements and liquor licensing, White & Partners considered that the site benefited from being adjoined to the main Jannali town centre and located opposite the railway station.

White & Partners commenced what was the first apartment project in Jannali after achieving development approval for 89 apartments in a twin tower design along with a 670sqm ground floor retail space with intended future use as a tavern. The project was pre sold over a six month period. Subsequently, Union Place was delivered and completed in February 2019 by DK Constructions and the new Hotel trading shortly thereafter.