Property young guns join forces with richlister White clan

Two young property players Lachlan O’Keeffe and Michael Feltoe have taken a big step in their careers by forming a partnership with the richlister White family.

Two property young guns Lachlan O’Keeffe and Michael Feltoe have taken a big step in their careers by forming a partnership with the richlister White family.

The pair have launched RWC Retail which will be focused on multi-tenanted retail/shopping centres, large format retail, freestanding retail, and retail development sites across Australia. O’Keeffe says the retail investment landscape has experienced an unprecedented surge in interest from individual investors in recent years.

“As more individuals seek to diversify their portfolios and explore alternative investment options, the need for specialised services tailored to their unique requirements becomes paramount,” he says.

The pair already have runs on the board, setting the record for the lowest yield for a Queensland supermarket with the sale of IGA Tugun which sold on a 3.94 per cent yield, and recorded the lowest yield for a Red Rooster in Queensland with the sale of Red Rooster Nundah, which sold on a 3.81 per cent yield.

Michael Feltoe and Lachlan O'Keefe at the Gabba property they sold. Picture: Tertius Pickard

O’Keeffe and Feltoe will be supported by analyst Regan Killian, executive assistant Marli Patel and the broader RWC in-house corporate team.

Feltoe said RWC Retail provided a “familiar and trustworthy brand” for investors. “With the launch of RWC Retail, we look to place an emphasis on educating and guiding these investors through the nuances of retail property and build upon the Ray White legacy of over 120 years,” he says. Ray White Group managing director Dan White says he is excited by the launch, noting that “Ray White has a long track record of success with market specialists in their respective catchments.”

Builder fined

A Brisbane builder has been fined $10,000 for carrying out work without a licence after he failed to complete a carport project despite being paid a substantial amount of money.

Cameron Dowel appeared in the Holland Park Magistrates Court last week following the case brought by the Queensland Building and Construction Commission (QBCC).

Mr Dowel pleaded guilty to one offence of unlicensed contracting contrary to the Queensland Building and Construction Commission Act.

The court fine Dowel $10,000.00 and recorded a conviction. He also was ordered to pay costs of $1,000 to the QBCC.

The QBCC brought the charge against the builder after he failed to complete a carport job in September 2020, despite the home owner paying a substantial sum of money for the work. QBCC Interim Commissioner Angela Masson says the building regulator has a zero tolerance for unlicensed activity.

Builder fined.

“Performing unlicensed work is a serious offence, and there are significant penalties for anyone caught doing it without an appropriate licence,” Masson says.

“This outcome shows home owners that the QBCC is here to protect and safeguard them from unlicensed operators. At the same time, we are also maintaining a level playing field for our qualified, experienced licensees, who pay their fees and take out the appropriate insurance for work, by taking action against unlicensed operators working in their space.”

Interim Commissioner Masson says the case serves as a reminder to home owners of the importance of using a QBCC-licensed contractor when building or renovating.

“The QBCC urges all members of the public to only use licensed contractors for their building

project, regardless of the size of the project,” she says.

Originally published as Property young guns join forces with richlister White clan