If you grow fast, you grow thin: Why quality development takes time.
An old maxim in business warns that “if you grow fast, you grow thin.” As a leader in the Australian property development community for over four decades, I have seen both organisations and developments grow at speed.
It is easy to be impressed by rapid growth. However, as someone personally familiar with the many stages of development, if I were to sight a defining factor to summate the process it would be this: robust development takes time. There can be no shortcuts.
At Lechte, this year alone we are in the construction stages of our Hawthorn project, Luminary and have impressive ventures ahead both east and west of the most liveable city in the world.
On the precipice of this influential era for Lechte, I believe it opportune to share with our esteemed community how our team ensure each Lechte project grows at a timely, and measured rate.
- Securing unrivalled sites.Leo Tolstoy once penned that “the two most powerful warriors are patience and time.” This is an apt thought to bear in mind during Lechte’s rigorous site acquisitions process. At best, acquisitions take a number of months but to secure sites of the calibre which Lechte seeks, it can take years.The recent acquisition of our forthcoming West Melbourne project site was an almost two-year negotiation process. Working collaboratively to secure it, our team analysed how best to use the space out of respect for its unique position in the heart of an area set for regeneration.Acquiring prized sites takes honesty, patience, negotiation and the utmost respect. It is slow relationship building and when done well, the outcomes are unparalleled.
- Investing in lasting design partnerships.In property development, we start on the outside. In a literal sense, this originates with the un-developed site directly informing our architectural response. Though we begin with the external, Lechte never loses sight of our final goal: to see our purchasers enjoy living in the spaces we create.As a local developer with global expertise, Lechte want to stand out for the quality we produce. To achieve such quality takes time and dedication. Plus Architecture, SJB, Fender Katsalidis, MIM Design and more have all collaborated with us to deliver superior designs that advance Melbourne’s property landscape.
- Building with integrity.With our extensive heritage of Lechte ventures coming to fruition, the excitement of the construction stage of development remains as exhilarating as it did with our first project. To execute our vision, we work with the best craftsmen in the trade; superior establishments like Crema Group and Ironside.Lechte projects offer premium amenity for our purchasers; facilities like extensive storage, wine cellars, and at Luminary, double lock-up garages. These inclusions result in greater privacy and liveability. However, in the initial construction stages it means we spend additional time underground laying strong foundations.At our Carlton project, The Eminence, I still recall driving past the site on Queensberry Street wondering when it was going to come out of the ground! The Eminence took 22 months to execute, and to see it delivered within our timeline to a satisfied group of purchasers and collaborators was deeply rewarding.
At Lechte we have made a habit of striking the balance of not sacrificing quality for time. The projects themselves turn around in a matter of years, each of them a crucial piece of the Lechte story, one of a lifetime dedicated to creating a superlative offering.
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