31st July 2019
Tim Shahin is the Property Developer for Onkaparinga Views who has been in property development for more than 20 years. Catch up with Tim below and find out how Onkaparinga Views came to where it is today.
What is your background within the property development industry?
I started in 2007, where I bought two parcels of 800sq land in a southern development. By the time it was time to settle, I had sold one of them for a small profit and kept the second one. I built a house on the land that I kept, and I still have it today. From then, I really enjoyed property development and I believe it’s very important to enjoy what you do.
The second property didn’t happen until a few years later… it was a small unit that needed some work. I spent about $5k fixing it up and then I rented it out. 18 months later I purchased a third unit and then rented this one out too.
By 2012 I was buying corner blocks, cutting them up, building on them and then retaining one. This allowed me to retain one with a small debit because the profit from the others paid off the first one. It was a lot of work always trying to find the right corner block, forever looking, spending a lot of time doing due diligence and then the vendor pulls out or something doesn’t stack up… even though I enjoyed it, it was exhausting…
I then started turning one allotment into two, one block into four, or I would buy one block and then go and buy out the neighbour, combine both allotments and cut them up to build, sell and retain. I enjoyed subdividing the allotments more than the building process so I started searching for a block that I could cut up and that’s when I stumbled onto Hackham.
I had three browsers open - PLB, Google Earth and RealEstate.com.au - and because I lived at Woodcroft/Morphett Vale for 9 years and my wife is from there too, I naturally started to look within that area. PLB would tell me which services are within the area and what zoning it is, and Google Earth would tell me where it is, the exact position and what’s around. I was looking at an allotment that was available further North of where I lived, clicked on the services box on PLB and at the bottom of the screen blue lines lit up leading into one big open area.
I checked these allotments and they were all residential zoning. I looked them up on realestate.com.au to see if they were for sale or if it has been sold… there was nothing. I tried googling the address online, no history. So I asked the agent I deal with if she could do some door knocking and she did. And ta-dah, they are interested to sell, it’s residential, there are services leading to it and the services are sufficient enough to do the development!
That’s when YAS was born. While I was doing this, I was actually trying to develop a site at Anzac highway into a High Rise Building because back then, everyone was talking about apartments. The project was supposed to be 52 ten-storey apartments… one of its kind. I decided not to proceed because I believed that the future is in subdivision and not apartments, plus I enjoyed the subdivision and not the build. So, at the last minute I pulled out of the development at Anzac Highway and continued on my journey with YAS.
What has been your favourite part of developing Onkaparinga Views so far?
I love watching the houses getting built and seeing people move in into their new home.
Why do you think Onkaparinga Views has been so successful to date?
I feel that the location is quite successful, as well as the gorgeous views into the Onkaparinga Hills and across to the ocean. We also make sure that the only thing a land owner needs to do is build their house on the allotment, as we provide all of the benching and retaining. This makes it a lot easier for new home builders.
What have been the biggest hurdles so far with developing Onkaparinga Views?
Keeping up with the demand and sales… we sold 25 out of 32 allotments in less than 6 hours for our recent Noble Release!
What is your vision for the Onkaparinga Views resident community?
My vision is to see Onkaparinga Views as a full community centre with a school, multitude of parks, professional centres, a shopping centre and of course homes. We love seeing residents build their dream home into a brand-new community.
What is your number one piece of advice for new home buyers?
My piece of advice for new home buyers is to take your time, research the market, drive around the area and look at the history of the area too. Take advantage of promotions when they are on, don’t over capitalise and know where to spend your money. Some things in your new home build are best left for later, however it is wise to spend as you are building, as replacing items like kitchen benches or tap fittings later down the track can end up becoming more expensive.
We have two great sales consultants who will answer all of your questions and can also help you find the right allotment for you and your family.