Australian Enterprise Awards 2023

Jan22686 F eFbe2b22523386 9 WolfeSmiths helps investors locate, assess, and manage small development projects such as duplexes, targeting high uplift in as little as 18 months. Utilising a two-pronged research approach, the firm leans heavily on data whilst also keeping an ear to the ground, and gaining a feel from local professionals such as agents, builders, and developers to locate the ideal properties for investment. Established by Daniel Wolfe and Nick Smith, who lend their names to the business, the company has cultivated a foundation of trust and good old fashioned, down-to-earth connection within its team, its processes, and all of its communications. Daniel tells us more: “Conducting our work from the inside out means the entire project benefits from full transparency. Both parties share everything and you really do experience the fact that you go into these projects together with your client wholly, and not just on paper.” WolfeSmiths achieves uplift due to the options that its custom-built duplexes open to its investors, which can be designed to perfectly match a block’s potential and be built in established, proven locations with existing demand, compared to newly developed locations. However, the main benefit to targeting infill locations is that it unlocks far more options to its investors as WolfeSmiths doesn’t need to rely on new land estates only, meaning it can save 12-plus months in wait times to find, secure, and then register extremely rare duplex suitable land from new land estates, and can thus deliver several new opportunities to clients each week. Whilst WolfeSmiths is specialised and boutique, it has begun to grow nicely, which Nick elaborates is a reflection of the strong culture that it harbours. “All of the dedicated staff at the firm have autonomy, such as working from home and creating and shaping their own roles,” he states. “They are motivated to do well because of the culture but also the opportunities that present themselves in our industry.” Taking both personal and business development seriously with regular training, goal setting, reflection, and external coaching provided for both business and personal development, WolfeSmiths endeavours to ensure that its staff are satisfied in their work. “We strive to live life on our terms whilst providing the best level of service,” Nick continues. “This results in happy and motivated team members who look after our clients.” Most of the firm’s staff base have come through referrals or connections and whilst competency is a desirable attribute, it is attitude which is most important. Nick goes on to say, “We can teach role specifics but shaping attitudes is much more difficult. We target people who wish to achieve great things and see property development as a field that can help them further their own goals. This added level of personal incentive means our staff are very motivated to do well and they genuinely treat the business as their own.” Having recently gained recognition in the Australian Enterprise Awards 2023 and named Leading Duplex Specialist Firm – Victoria, the dynamic duo at WolfeSmiths are no strangers to experiencing past turbulence. In recent years, land acquisition, construction, and property markets have experienced rapid changes and also much uncertainty. It started with the Covid-19 pandemic, and then came a ‘hot’ property and land market, followed by a quick cooling of the market due to rising construction costs, inflation, and rising interest rates. As land prices are more competitive by end values being more resilient, the market is beginning to adjust to higher interest rates, and Daniel and Nick expect the year ahead to be positive for the property market in general. “This may well lead us to larger projects which may open up JV opportunities for clients and WolfeSmiths to partner together to unlock potentially more lucrative deals,” Daniel tells us. “All this means that now is the time to work with us if this type of relationship is what you are looking for.” Contact: Daniel Wolfe and Nick Smith Company: WolfeSmiths PTY LTD Web Address: Leading Duplex Specialist Firm – Victoria Jan23328 WolfeSmiths is a firm specialising in custom built duplexes and small developments that provide instant equity upon completion. Having recently been named in the Australian Enterprise Awards 2023, the firm’s co-founders tell us more about how it operates.