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One of Adelaide’s oldest family companies, J &amp; AG Johnston, is selling 25 South Australian properties, including 17 hotels, a shopping centre and smaller residences and shops.
Established in 1843, the company produced ales and cordials and established the hotels as a distribution network. The company has retained ownership of the hotels to this day but the board recently decided to move out of the hotel business.
“The investment properties have served the company’s stakeholders well, but following a major strategic review our shareholders decided it is time to offer these properties for sale to enable their funds to be invested in other ventures,” says chairman Mark O’Leary.
The Jones Lang LaSalle memorandum says the portfolio “provides the smaller investor an attractive opportunity to secure well-leased investments in the desirable Adelaide Hills, Lower Murray and Fleurieu regions”.
Jones Lang LaSalle agent Jamie Guerra says the company will be focusing on its winery and golf course businesses.
The company owns 50 hectares of vineyards and other land holdings around Oakbank as well as the nine-hole Oakbank Golf Course, founded in 1892.
<img src="/images/stories/2012/08/charleston.jpg">
All the hotels are at least 100 years old. The oldest hotel in the group is the 1851-built Woodside Inn (pictured below), built by James and elder brother William Johnston in the year the town was established.
<img src="/images/stories/2012/08/woodside.jpg">
They include the Balhannah Hotel and Chinese Restaurant in Balhannah, Bridge Hotel in Langhorne Creek, Charleston Hotel in Charleston (pictured above), District Hotel in Nairne, Millers Arms Hotel in Nairne, German Arms Hotel in Hahndorf, Gumeracha Hotel in Gumeracha, Mannum Hotel in Mannum, Meadows Hotel in Meadows, Pier Hotel in Milang, Pretoria Hotel in Mannum, Rising Sun Hotel in Lobethal, Stanley Bridge Tavern in Verdun, Swan Reach Hotel in Swan Reach (pictured below), Totness Inn in Mount Pleasant, Woodside Hotel in Woodside, and Callington Hotel in Callington (pictured below).
<img src="/images/stories/2012/08/callington.jpg">
Johnston’s aim with his brewing company was to supply as many of the hotels around the brewery as could be reached by bullock or horse-drawn wagons.
<img src="/images/stories/2012/08/swanbeach.jpg">
Together the hotel investments earn a total rent of $2.1 million per annum.
The Balhannah Junction Shopping Centre, anchored by Foodland supermarket, earns $221,800 per annum.
The properties are available individually or in one line.
The properties are being marketed through JLL’s Jamie Guerra and Roger Klem and Steele Hotel Brokers’ Darren Steele.
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awalsh-7Ub9EypybQ

Adelaide's J & AG Johnston lists 17 century-old South Australian hotels

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An 1871-built former Presbyterian church has been listed for sale in Fitzroy.
The bluestone church was built to the design of the 19th-century architect George Browne, whose work includes the 1874 design of the Academy of Music in Ballarat and Melbourne’s Theatre Royal in 1872.
The Presbyterian church was established in Fitzroy in 1851 and commissioned this building as a larger premises.
In 1908 the church established itself as a refuge for women in the impoverished suburb.
The Napier Street building currently belongs to the Uniting Church, which has been holding off selling for 13 years while Yarra Council sought a new home for former tenants the Annie Todd childcare centre.
The building has been listed for vacant sale through Grant Sutherland of Sutherland Farrelly Real Estate.
In 1970 the church was deemed to be of local heritage interest for stylistic details of the west front including the star tracery at the head of the five-light west window and the superimposed colonettes of the flanking buttresses.
The heritage report says the interior incorporates a hammer-beam roof, elaborate plaster corbels, cedar joinery and windows by Ferguson &amp; Urie, one of Melbourne’s most historically renowned stained-glass window makers.
The sale includes a red brick building, which has similar heritage value. The buildings are in separate titles but sold together as the borders between the two titles are murky.
Sutherland says he is marketing the building aimed at developers, who would keep the building intact, or to an individual home buyer.
He says the roof is high enough to support a mezzanine floor. The whole land area is 1,334 square metres.
Sutherland is looking to sell the church for around $2 million.
Nearby, an 1860-built Bible Christian Church conversion in Gore Street sold for $3.41 million in June. The building was converted 10 years ago into a three-bedroom, two-bathroom house with a six-car garage.
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Fitzroy 1870s bluestone church listed with $2 million hopes

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The prospect of Tony Abbott's Coalition government countenancing a $15 million cap after which Foreign Investment Review Board scrutiny of agricultural land purchases would be mandatory attracted strong debate today.
The<a href="https://www.tonyabbott.com.au/News/tabid/94/articleType/ArticleView/articleId/8829/The-Coalitions-Policy-Discussion-Paper-on-Foreign-Investment-in-Australian-Agricultural-Land-and-Agribusiness.aspx"> policy discussion paper</a> released today proposes FIRB scrutinise any foreign acquisition of agricultural land valued at $15 million or more. The current cap is $244 million.
The paper also recommends the FIRB get involved at an earlier level than it does currently when considering agribusinesses purchases.
The policy discussion paper attracted quick Twitter criticism including Jan Davis who represents the Tasmanian Farmers &amp; Graziers Association.
<img src="/images/stories/2012/3-8tweet1.jpg" alt="3-8tweet1" height="221" width="466">
Penny Wong, the Minister for Finance and Deregulation, rehashed data from a suspect ABS survey on levels of foreign agribusinesses.
<img src="/images/stories/2012/3-8tweet2.jpg" alt="3-8tweet2" height="206" width="450">
ABC journalist Melissa Clarke also brought Treasurer Wayne Swan's thoughts into the debate.
<img alt="3-8tweet4" src="/images/stories/2012/08/3-8tweet4.jpg" height="182" width="450">
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Coalition's $15 million foreign investment cap for land purchase FIRB review triggers Twitter debate

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We’re down to the best of Property Observer's list of the 20 top home cinemas and this one's an interesting case.
All the previous 19 cinemas were like going to a Gold Class cinema and having it all to yourself or family and friends.
But this one is trend setting – its a shared cinema facility within a modern luxury East Melbourne apartment building.
The cinema is in the Salta redevelopment of the former Mercy Hospital for Women hospital building on Clarendon Street.
Property Observer gleans the 17-seat cinema can be booked by residents of the apartments for film screenings and parties. During big sporting events, such as the Olympics and the Grand Final, it's an open house with the first in getting the best seats.
The cinema comes with access to a hard-drive with 250 films or residents can bring their own DVDs.
RT Edgar agent, Sarah Case, says the building has a friendly atmosphere and shared facilities like this help build the community.
She says the building also comes with a library where residents meet once a month for a book club.
There is also a boardroom, an indoor pool, a sauna, a steam room and a full-sized gym with better facilities, says Case, than most commercial gyms.
Wine connoisseurs are able to buy a portion of the building's massive wine cellar to store their wine.
To get access to the cinema you could look at <a href="https://www.realestate.com.au/property-apartment-vic-east+melbourne-110109565">apartment 405 </a>on the north eastern side of the building, being sold by RT Edgar's Sarah Case.
For just $3.8 million-plus, buyers will get a two-bedroom, two bathroom apartment with views from every room.
If you find the cinema booked out though, residents do have access to the movie hard-drive through the internal wired network.
Another opportunity to buy in 150 Clarendon is <a href="https://www.realestate.com.au/property-apartment-vic-east+melbourne-110799111">apartment 213 </a>for $2.95 million through Paul Caine from Caine Real Estate.
<img height="353" width="470" src="/images/stories/2012/HOMECINEMASNUMBER1.gif" alt="HOMECINEMASNUMBER1">
Case says having a cinema as a shared facility in luxury apartment buildings could be an emerging trend.
<img height="300" width="470" src="/images/stories/2012/3-8cinema2.gif" alt="3-8cinema2">
Yve, on St Kilda Road, does have a shared cinema facility (photo below) but by our reckoning, it's nowhere near in the same league as this one.
<img height="300" width="470" src="/images/stories/2012/IMG_0503.gif" alt="IMG_0503">
As part of trend of vertical villages, at least two apartment blocks are being built with shared cinema facilities. Melbourne’s Fifty Albert and MY80 on A'Beckett Street will both feature shared facilities.
A 38-seater home cinema in a $9.5 million house at Paradise Point on the Gold Coast was the runner up on the top 20 cinemas on our Property Observer list which follows:
Two
Three
Four
Five
<a href="https://www.propertyobserver.com.au/news/the-swan-river-mosman-park-home-cinema-in-australia-s-priciest-sold-residential-compound/2012072655718">Six</a>
Seven
Eight
Nine
10
20-11
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Australia's best home cinema - popcorn shared with fellow East Melbourne apartment block film connoisseurs

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Brisbane’s Fortitude Valley has topped the list of suburbs with the highest proportion of rentals, with 70% of dwellings occupied by renters.
It narrowly pipped Canberra’s City at 69.7% and Perth’s Northbridge at 69.3%.
The other 30% of Fortitude Valley is made up of 20.6% owned with a mortgage, 6.7% owned outright, 2.3% not stated and 0.4% other tenure.
The top 20 is dominated by Sydney and Brisbane suburbs while Victoria doesn’t make an appearance until 21, with the Melbourne CBD at 63.1% renter occupied.
The list, compiled by RP Data’s Tim Lawless using ABS 2011 Census data, does not include suburbs with fewer than 200 dwellings or suburbs where more than 25% of rental dwellings are not privately owned.
This excluded suburbs like Sydney’s Claymore where 93.9% of homes were renter occupied, but mostly made up of public housing.
The top 10 suburbs include Brisbane’s Fortitude Valley, Canberra’s City, Perth’s Northbridge, Adelaide’s New Port, Sydney’s Chippendale, Brisbane’s Spring Hill, Sydney’s Gosford, Sydney’s Ultimo, Darwin and North Cairns.
Sydney suburbs appear 20 times on the top 50, Brisbane suburbs seven times and Melbourne and Perth suburbs five times respectively. The rest of the list is made up of Queensland, Adelaide, Hobart, Darwin and NSW suburbs.
The median unit price in Fortitude Valley is $399,000 with an indicative gross rental yield of 6.0%. Some 78.6% of rentals dwellings are privately rented.
Meadowbank in Sydney had the highest proportion of privately rented properties on the list, with 97.8% of rental dwellings privately rented.
"What is even more interesting is drilling down on the Census data to show exactly where the most popular suburbs for investment/renting are located. The table below shows the top 50 suburbs around the nation that have the highest proportion of renters where at least 75% of the dwellings are privately rented (ie. dwellings where the landlord is the government or a community/church group comprise 25% or less of all occupied rental dwellings). Based on these parameters, Brisbane’s Fortitude Valley is the most popular ‘investor/rental’ suburb in the nation with 70% of all occupied dwellings being rented, followed by Canberra’s city centre (69.7%) and the Perth suburb of Northbridge (69.3%).
Of the top 50 list, 40% of the suburbs are located in Sydney, 14% are in Brisbane and 10% respectively in Melbourne and Perth. Unit dwellings are clearly the most popular dwelling type for investors, with many of the suburbs in the top 50 list recording fewer than 10 house sales over the past year (this is why a median price or rental yield is not recorded for houses in some suburbs). Yields for units tend to be well above average in most of these suburbs, highlighting the attractive investment conditions."
<img height="849" width="315" src="/images/stories/2012/50suburbs.jpg" alt="50suburbs">
Source: RP Data/2011 Census
Photo: fortitude : 1997 Commissioned by the Institute of Modern Art, Brisbane for the  "Art On Line" project. Temporary installation of artificial flowers on Brunswick Street Railway Station, Fortitude Valley. 
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Property investor must-know guide to Australia's top 50 rental suburbs

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Young Spaniards tired of having awkward sex in the back of their cars are being told by one of Spain’s biggest online real estate portals to move out of their parents’ home and start renting their own place.
Idealista.com have launched a <a href="https://www.propertyobserver.com.au/https://vimeo.com/43813383">20-second ad</a> (risque warning) showing a series of still shots of Spanish couples and even threesomes caught in flagrante in their often cramped cars. The ad urges young Spaniards to stop having such uncomfortable sex and to get their own place.
<img height="300" width="470" src="/images/stories/2012/idealista.gif" alt="idealista">
Idealista co-founder, Fernando Encinar, told Bloomberg they were trying to portray a scene familiar to Spanish youths.
“We were brainstorming the moment when people most think ‘I need my own home’ and having sex in a car sprang to mind. Millions of Spaniards have gone through it,” Encinar says.
In an effort to attract foreign investment into Spain’s 1.5 million unsold homes as banks approve fewer mortgages in the country, the Spanish government is pushing for more people to start renting.
At 85%, Spain has the third highest rate of home ownership in the euro zone.
Of the 25 million homes in Spain, three million are empty and 1.8 million are rented.
Encinar says the Spanish rental market will grow by to 25%of the total by 2015.
<img height="300" width="470" src="/images/stories/2012/idealista2.gif" alt="idealista2">
He says young Spaniards are locked out of the mortgage market.
“Youngsters with no deposit saved and permanent labour contract are effectively locked out of the mortgage market. We are already seeing part of that huge pent-up demand running into flat sharing as it’s the only option for some.”
New measures to boost investment in the rental market include laws to make it easier to evict troublesome tenants, allowing landlords to raise rents above inflation and to reduce the length of leases.
Bloomberg reports that since 2007, there have been 330,000 home foreclosures in Spain.
By coincidence a somewhat less risqué effort to encourage kids to move out has been produced by Australian bread company Lawsons, though in their<a href="https://www.youtube.com/watch?v=xOJEW1KQl34&amp;feature=plcp"> latest ad</a>, the roles are somewhat reversed.
Australian comedian Trevor Marmalade plays a frustrated would-be empty nester.   
<img height="300" width="470" src="/images/stories/2012/idealista3.gif" alt="idealista3">
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Spanish car-sex youths encouraged to move out of home, while Trevor Marmalade gives an Aussie twist to empty nester desires

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In a move that comes after Darrell Lea being placed into voluntary administration and closing 32 shops, Haigh’s Chocolate is opening a second Sydney store in the Queen Victoria building.
The company’s first Sydney store opened seven years ago in the Strand Arcade and say the latest opening comes in response to strong consumer demand.
“An opportunity arose in the iconic QVB building and the company believed that this site and the Haigh’s brand were an ideal fit,” great-grandson of the founder Albert Haigh, and current joint managing director, Alistair Haigh told Fairfax Media.
“We are now awaiting approval from council.”
Darrell Lea was placed into administration in July after 85 years of business in Australia. The company blamed the expansion of chocolatiers and chocolate cafes like Haigh’s, Max Brenner, Gânache Chocolate, and Theobroma.
Darrell Lea’s administrators, PPB Advisory, have announced that they will close 32 of their shops, making 198 casual, part-time and full-time staff redundant. The closures include the Darrell Lea QVB store.
Darrell Lea stores to be closed
ACT: Belconnen Mall, Tuggeranong Hyperdome and Woden Plaza
NSW: Blacktown Westpoint, Bondi Westfield, Broadway, Burwood Westfield, Carlingford, Gorokan Lake Haven, Liverpool Westfield, Merrylands, Miranada Fair, Parammatta Westfield, QVB Sydney, Roselands Centro, Rouse Hill and St Ives Shopping Town.
VIC: Doncaster Shopping Town, Highpoint West Shopping Centre, Swanston Street, Northland Shopping Centre and Southland Shopping Centre.
QLD: Broadbeach Pacific Fair, Southport Australia Fair, Upper Mt Gravitt, Robina Town Centre and Toombul Westfield.
SA: Westfield Tea Tree Plaza.
WA: Hilarys Whitford City, Morley Galleria, Cannington Westfield, Joondalup
It leaves 34 Darrell Lea stores set to remain open, some of these as franchises.
PRB Advisory’s Mark Robinson says closing underperforming stores will make it easier to sell the business.
“While this is a very unfortunate development, our objective at this time is to make Darrell Lea more attractive to potential purchasers, and help protect the interests of the remaining 480 employees,'' he says.
He says even prior to being placed in administration, the company was already considering closing stores.
The new Haigh’s store will be in the premises currently occupied by Adidas which is due to move out. The space fills the ground floor at the southern entrance to the building.
Haigh’s was founded in Adelaide by Alfred E. Haigh in 1915. They claim to be the oldest family-owned chocolate manufacturing retailer in Australia. It currently has six Adelaide stores, six Melbourne stores and one in Sydney They have more than 300 employees across their 13 stores.
It’s flagship Melbourne store is located in the historic Block Arcade in Collins Street.
The flagship Adelaide store opened in 1915 in the historic Beehive Corner building on the corner of Rundle Mall and King William Street.
Darrell Lea was founded in 1927 and up until now employed about 700 staff through its manufacturing and retail divisions.
 
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Haigh's sweet success in Sydney, as Darrell Lea closes 32 shops including Bondi Westfield

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Villa Amalfi in Paradise Point, Queensland is a riverfront home advertised as a work of art.
The 1,600 square metre six-bedroom house comes with a 12-metre pool, an 180-person formal dining room, an internal lift that can carry 13 people and a gourmet chef’s kitchen.
And of course, this 38-seat home cinema is the Mediterranean masterpiece.
The four-level residence was built with its 42 metre north easterly Broadwater frontage by Geart and Birthe Bjerring, who bought the Knightsbridge Parade East block for $3.2 million in 2008 before going on to build what is their fourth Sovereign Islands home.
It was on the market with $12 million price hopes in mid-2011 and <a href="https://realestate.brisbanetimes.com.au/overview/3942957/50-knightsbridge-parade-paradise-point-4216/">Coldwell Banker</a> is now seeking interest at $9.5 million in conjunction with <a href="https://www.realestate.com.au/property-house-qld-sovereign+islands-109089731">First National Paradise Point</a>.
<img width="470" src="/images/stories/2012/07/hometheatre1.jpg">
<img alt="2009741178_24_FS" height="353" width="470" src="/images/stories/2012/2009741178_24_FS.jpg">
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With 38 seats, Villa Amalfi is Australia's second best home cinema

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Winter may be coming to a close shortly but some agents think it was the wisest time to sell in preparation of buying in spring.
Against popular opinion, selling property in winter might not be such a bad idea, especially on delayed settlement terms.
“Melbourne is iconic for its spring market obviously, when the property looks its best. However, there are a lot of property that is transacted through winter,” Cameron Deal from Infolio Property Advisors told Melbourne Property TV.
“It’s sometimes better for a vendor to sell in winter because there’s less competition amongst other properties.”
The sentiment is echoed by veterans in the industry, like Tim Fletcher from Fletchers.
“If you decide to sell your most important asset over the winter period you’ll join a small number of people who are selling because most people either do it over autumn or spring.”
“So I think it’s a smart move to think about selling when there are fewer properties on the market.”
Brace real estate agent Aldo Verga says winter can make homes much more welcoming.
“A lot of people come spring will do up their garden, but winter is a great time – there’s warmth, the heater is on, the lights are on. It’s beautiful, ” Aldo Verga told Melbourne Property TV.
Paul Keane from Jellis Craig says he always sells his own properties in the winter.
“It just seems there is less stock around. It gives less of a choice to buyers and it attracts the buyers who are prepared to compromise slightly because they want to get into certain areas."
Agent Elizabeth Treonze from Elizabeth Treonze Real Estate says she finds more genuine buyers during the winter.
What everyone seems to agree on if you’re selling in the winter, is to make the property welcoming.
“If it’s cold in your home, light a fire, cheer it up, do things to make people want to walk inside and feel like it’s a real home. Give it that 'wow' factor and you should succeed,” says Fletcher.
REIV’s Robert Larocca puts a chill on things though and says numbers in winter are neither up nor down.
“Our figures show it doesn’t matter when you sell during the year, your outcome is likely to be the same.”
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Why selling property in winter and buying in spring makes sense

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House prices across most of Tasmania continue to fall, according to a report by the Real Estate Institute of Tasmania.
The June quarter property report found median house prices in Tasmania dropped 3.3% to $290,000 for the quarter in an environment where sales volumes dropped 6.5% to 1170 sales.
The North-West Centres region was the hardest hit with prices dropping 7% to $236,250 over the quarter. Sales numbers there rose 2.9% to 106 over the quarter.
Transaction numbers are significantly down in Hobart dropping 16% overall to 377. Numbers in outer Hobart dropped 25.5% to 82, middle Hobart dropped 22.5% to 162 while numbers in inner Hobart rose 2.3% to 133 over the quarter.
Median house prices in Hobart grew 4.8% to $370,000 over the quarter, with inner Hobart dropping 5.6% over the quarter to $435,000, outer Hobart dropping 0.7% to $335,000 and middle Hobart growing 4.7% to $335,000.
Launceston median house prices dropped 1.2% to $262,750 while sales volumes increased 4.3% to 220.
While Tasmanian house prices are down for the quarter, the median price for other dwellings grew 3.1% to $240,000 over the quarter, while sales dropped 6.1% to 201.
The median prices for other dwellings in Middle Hobart grew 6.7% to $240,000, the largest increase across Tasmania, though sales numbers were down 35.4% to 42.
For inner Hobart, other dwellings are selling like Tasmanian hotcakes with numbers up 33.3% to 40. Prices rose 0.5% to $327,500 over the quarter.
In the North West Centres region, sales numbers for other dwellings have rocketed 111.1% to 19, though prices dropped 2.8% to $210,000.
According to the report, median house prices in the town of Strahan, on the West coast, increased 225% over the quarter though this should be taken with a bucket of salt as there was only one sale.
Similar scepticism should be applied to King Island where one sale led to the median house price dropping 69.5%.
Median house prices in Riverside, in the north east, dropped 32.1%. There were 18 sales over the quarter.
REIT president Adrian Kelly says while house sales have decreased, median house prices in 10 municipalities increased over the quarter.
“There are also currently six municipalities across Tasmania recording a median house price higher than that of the state median, those being Clarence, Hobart, Kingborough, Latrobe and the Meander Valley,” Kelly says.
“The top five most expensive suburbs were Tolmans Hill, Tranmere, Taroona, Acton Park and Sandy Bay, while the top five most affordable suburbs were Queenstown, George Town, Ravenswood, New Norfolk and Smithton.
“The top five Tasmanian suburbs with the highest turnover of house sales were Sandy Bay, Devonport, Newstead, Kingston and Howrah.”
First time buyers accounted for 15% of house sales for the quarter, while interstate buyers made up 14%.
“The average time it took to sell a house fell by two days for the June quarter, closing the median at 77 days for Tasmania.”
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Tasmania property prices slide further south amid sales volume slowdown

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

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According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

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Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

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Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

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Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

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<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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Alistair Walsh

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