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A Brisbane property manager has been given a suspended jail sentence for his role in the trust account breaches of Capalaba-based Rylco property management agency.
The Cleveland Magistrate Court sentenced George Cowin to four months in jail, suspended for 12 months and permanently cancelled his license, according to Fair Trading Queensland.
He was convicted of 68 counts of failing, as an executive officer, to ensure Rylco Pty Ltd complied with the Property Agents and Motor Dealers Act.
Rylco failed to pass on $15,000 of rent money to landlords and was convicted of 32 counts of failing to disburse trust money, 32 counts of not accounting to clients, one of not supplying documentation when requested, one of not supplying information about an offence, one of failing to appoint an auditor to the trust account and one of not having the trust account audited.
Rylco Pty Ltd also had its licence cancelled and was permanently disqualified from holding a licence.
Last year the firm was fined $20,000 and ordered to pay $8581.80 in restitution to customers and Cowin was fined $12,000.
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Brisbane property manager avoids jail for trust account breaches

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Government welfare and tax policies benefit wealthy homeowners leaving young renters and first home buyers disadvantaged, according to a Grattan Institute report.
Policies such as exemptions for the family home from land and capital gains taxes and the eligibility test for the aged pension benefit homeowners to the tune of $36 billion a year, or $6,100 for each homeowner household, according to the Renovating Housing Policy report.
<img alt="grattan" height="363" width="470" src="/images/stories/2013/10/21/grattan.jpg">
It found negative gearing rules and the capital gains discount provide residential property investors with nearly $7 billion a year, or $4,500 on average for each property investor.
It found help for first home buyers just pushed up prices and only benefitted sellers.
Author of the report Jane-Frances Kelly calls for the elimination of stamp duty and the introduction of a broad-based annual property tax. She says there should be reforms to tax arrangements that favour property investment.
And there should be an inquiry into the rental industry with possible reforms including extending the minimum duration of leases and increasing tenants’ freedom to make minor modifications and own pets.
The gap between those who own homes is increasingly generational and income based.
“Housing policy exacerbates, and could entrench, inequality between home owners and property investors, on the one hand, and households that don’t own, on the other,” the report says.
It found home owners have benefited from a significant largely untaxed increase in wealth due to the house price boom from the mid-1990s, particularly in the inner and middle ring suburbs.
Home owners captured most of that wealth for themselves due to the capital gains and land tax exemptions on the family home.
“But, on the whole, these households did very little to create this wealth – the value of improvements, including buildings and landscaping, determine a relatively small proportion of a  property’s price,” the report says.
“Rather, the wealth gain is largely determined by other factors like shops and parks, employment opportunities and government funded infrastructure investments and schools.
“While home owners benefit from increased house prices associated with these improvements, renters pay them through higher rents.”
<img alt="poll-results-oct-22" height="110" width="470" src="/images/stories/2013/10/22/poll-results-oct-22.gif">
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Government policies favour wealthy property owners

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Townsville has welcomed in a new wharf and port facilities which will be used by tourist and military visitors.
The $85 million overhaul could be just the start of a redevelopment with the recent announcement of the draft Queensland Ports strategy which identified five Queensland ports which would be up for redevelopment.
The 400 crew of the American guided-missile cruiser USS Chosin were the first scheduled visitors to the site today.
The overhaul will improve visitor experiences as well as increase the port’s cargo capability.
“The port is one of Queensland’s most important, handling everything from stock and agricultural produce to retail and industrial cargo as well as meeting a host of defence needs,” transport minister Scott Emerson says.
“The Newman Government is investing in infrastructure for the port because we realise just how important it is, not just to the people of Townsville but communities right through northern and western Queensland.”
Ports in Brisbane, Mackay/Hay Point, Gladstone, Townsville and Abbot Point would be declared Priority Port Development Areas where development will be concentrated and encouraged, under the draft policy released on Thursday.
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Townsville Port's $85m overhaul open for business

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Two adjoining Fremantle properties are being sold for the first time in their 100 year histories.
The former Princess Theatre, built in 1912, and the Princess Chambers, built in 1899, have been listed for sale.
Frank Biddles was a pioneering pearler who built up a massive property portfolio in WA until his death in 1932.
When he died his executors sold his portfolio which included several Kimberley pastoral stations, 32 properties in Fremantle, 17 in Broome and others spread throughout the metropolitan area from Rivervale to Nedlands.
But this property was left aside for his unborn grandchildren.
These two Fremantle buildings are being sold by his ancestors for the first time.
Biddles built the Princess Chambers to the design of architect Edwin Summerhayes – also responsible for The Rechabite Hall in William Street and Ancient Order of Foresters in Francis Street.
The heritage listed property, at 21-27 Market St Fremantle, is said to be a fine example of a Federation Free Classical style building, with elaborate stucco decoration above the ground floor level, that makes a significant contribution to the streetscape.
It is a three storey painted brick building with bracketed and balustraded parapet and a zero setback from the pavement.
It has has four bays divided by engaged pilasters extending through the parapet.
Only the façade is heritage listed.
The Princess Theatre, at 29-33 Market Street, was built by Biddles to the design of John McNeece and Son.
The building facade creates the impression of being a separate building but it is actually just an extension of the Princess Chambers.
According to heritage documents, the 1,850 seater theatre cost £7,000 to build.
It opened on 21 December 1912 with a screening of The French Spy and vaudeville performances by Elsie McGuire, according to newspapers at the time.
The building operated as a movie theatre until 1969. It was then converted to commercial property with retail lots on the ground floor and offices above.
It was also home to one of the earliest incarnations of the Returned and Services League of Australia, then known as RSA, when Biddles made the basement of the Princess Theatre available to provide amenities for army and naval personnel.
The building was extensively rebuilt in 1941
It is a two storey highly decorative, rendered and truncated corner building with a zero setback from the pavement, according to heritage documents.
<img alt="fremantle_oct_18_two" height="353" width="470" src="/images/stories/2013/10/18/fremantle_oct_18_two.jpg">
It has a bracketed and balustrade parapet, with decorative engaged low pilasters.
The 660 square metres of land on one title is <a href="https://www.realcommercial.com.au/property-land+development-wa-fremantle-500921975">being sold by Knight Frank.</a>
Director Tony Delich says the building is the last piece of Biddles’ legacy and is one of Fremantle’s landmark buildings
“It has never been sold before and still belongs to his grand children who weren’t even born when he died or when the buildings were built,” Delich says.
It has 1,146 square metres of lettable area and most of the tenancies were long established, including the popular Kakulus Sister grocer.
It currently earns $278,000 per year and is being sold by an offers to purchase campaign closing on November 13.
There is opportunity for further refurbishment of unused office areas on the upper levels plus the basement area which is currently vacant.
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Heritage Fremantle theatre building listed for first time in 100 years

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Queensland’s five leading ports would be declared priority development areas under a proposed strategy released last Thursday.
Ports in Brisbane, Mackay/Hay Point, Gladstone, Townsville and Abbot Point would be declared Priority Port Development Areas where development will be concentrated and encouraged.
The ports handle 87% of Queensland’s $54.5 billion of exports and 98% of the state’s imports.
The recognition will provide those ports with a “licence to grow”, planning minister Jeff Seeney said in the draft Queensland Ports Strategy.
“The growth of these ports will be driven by greater efficiencies within these port areas and through supply chain connections that will flow from more transparent planning and approval processes ,” he wrote.
The plan aims to improve supply chain infrastructure partly through investment in transport corridors.
The plan prohibits capital dredging outside of the five recognised areas.
It will identify bottlenecks in the infrastructure networks and resource industry supply chains and aims to clearly state where any new infrastructure should be located and how the government will support the private sector in delivering strategic infrastructure.
The government would respond to industry demand for new infrastructure to open new resource regions.
The report also acknowledges that there is a push within government to facilitate private investment in infrastructure rather than government.
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Five Queensland ports earmarked for investment and development

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A five bedroom bay view house in Sydney’s Northbridge sold prior to auction for $3.95 million – the most expensive sale of the week, according to RP Data.
The north-facing house on 809 square metres at <a href="https://www.realestate.com.au/property-house-nsw-northbridge-114814091" target="_blank">69 Kameruka Road</a> comes with three bathrooms, a home theatre room and a blue mosaic tiled wet edge gas heated pool.
The house is spread over three floors. Entry is via the ground floor veranda, past the media room and two bedrooms into a large open plan kitchen, dining and living area with spotted gum flooring.
The kitchen includes Corian benchtops and Miele appliances including a steam oven, an island breakfast bar and a large walk-in pantry.
The open plan living area leads onto a north facing undercover terrace with views over the bay. It has a remote motorized sunshade, electroplated stainless steel balustrades and Himalayan sandstone pavers.
Stairs off the living room lead down to the lower ground floor with two bedrooms and rumpus room which leads onto a Himalayan sandstone paved terrace and lawn.
The top floor consists of the master bedroom with a walk in robe and an ensuite. It has a private balcony with views.
There is a double lock-up garage as well as a single lock-up garage with approved plans to build a double.
According to RP Data it last sold for $1.825 million in 2004.
<img src="/images/stories/2013/08/PO_Strap_new.jpg" width="470" height="60" alt="PO_Strap_new">
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Northbridge house with bay views the weekend's most expensive sale: RP Data

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The Reserve Bank of Australia has toned down concerns about borrowing conditions in the minutes for its rate hold on October 1.
It says the effects of its latest rut cut in August still has further to run.
“House prices and turnover had increased and leading indicators pointed to a pick-up in dwelling investment over the period ahead,” the minutes say.
“While credit growth remained moderate, there were signs of an increased appetite for borrowing, most notably among investors.”
The Bank says policy stimulus had had sufficient influence on the economy though it wouldn’t rule out another rate cut.
“Members agreed that the Bank should again neither close off the possibility of reducing rates further nor signal an imminent intention to reduce them,” it says.
“The Board would continue to examine the data over the months ahead to assess whether monetary policy was appropriately configured.”
The Bank says household interest payments continued to decline over the June quarter and conditions in the established housing market had strengthened over 2013.
“House prices increased by around 2.5% over the September quarter and by 5.5% over the year. However, the value of the dwelling stock relative to household income remained below the levels that had prevailed for most of the past decade,” the Bank says.
“Auction clearance rates remained well above average and turnover had picked up over recent months. Loan approvals for established dwellings for both owner-occupiers and investors had increased strongly over the past year. While the growth of housing credit remained moderate, it was edging higher, with stronger growth in investor credit.
“Dwelling investment had declined a little in the June quarter following a soft patch in building approvals earlier in the year, but dwelling construction remained higher than a year earlier and forward-looking indicators pointed to a further recovery in the second half of 2013.”
In September the Bank made note banks should maintain prudent lending standards.
Commonwealth Bank analyst Gareth Aird says the bank is maintaining an easing bias.
"The comment, 'that the Bank should again neither close off the possibility of reducing rates further nor signal an imminent intention to reduce them' was identical to the August and September Board minutes.  To us, these comments suggest that further changes to the cash rate are data and AUD dependent.  And they indicate that the Bank retains a mild easing bias," Aird says.
He predicts the there will be a rate hold in November depending on further job information.
"In our view, the things that the RBA will most closely be monitoring for future policy direction are (i) labour market conditions; (ii) inflation; and (iii) the AUD," he says.
"Last week’s labour force data showed that conditions in the jobs market remain soft.  The headline unemployment rate fell, but only because of a drop in the participation rate.  We expect softness to continue over the near?term, as does the RBA. 
"On the inflation front, the QIII CPI prints next week.  Another weak reading may see the probability of a November rate cut increase.  At this stage the market expects rates to stay on hold in November.  And we agree that the cash rate will be left unchanged on Melbourne Cup day.  The near?term path of the AUD will be impacted by what happens in the US and in particular with regards to the US debt ceiling issue and Fed asset purchases.
"We continue to think that the current 2.5% cash rate is the low point for this cycle."
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RBA open to rate cuts over coming months

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The owners of the Giant Koala, out the edge of the Grampians, have stepped up a marketing campaign for the massive beast, listing it on eBay.
Rob and Julie-Anne McPherson have been trying to sell the Giant Koala for more than eight months now, but potential buyers have had trouble securing finance.
“We just had a couple from Melbourne who were keen and wanted it but couldn’t get the money. Because it’s rural the bank want a 50% deposit. Finding someone with $250,000 is a bit scarce,” Rob McPherson told Property Observer.
The initial price for the <a target="_blank" href="https://www.propertyobserver.com.au/https://www.ebay.com.au/itm/The-Giant-Koala-Tourist-Complex-/161122818437?pt=AU_Business_Industrial_Businesses_for_Sale&amp;hash=item2583ab1985&amp;_uhb=1">eBay auction</a> starts at $450,000 plus stock. There have been no bids so far but there have been around 1000 views on the listing.
McPherson says he put in eBay more as an advertising technique than a legitimate aim to sell through the website.
“I just said to the missus have a look on eBay and see what business and there were a few and we said we’ll put the koala on it and advertise.”
The koala was built in 1988 by Dutch sculptor Ben Van Zetten for Beryl Cowling.
The McPhersons are selling the property to focus on their catering business and a V8 super car simulator business which they have recently sold.
They took over the Giant Koala five years ago and it now earns nearly $300,000 per year.
It includes the giant koala sculpture, a café/restaurant, a mini-zoo, a gift-shop, tourist information centre, a Koala Educational centre inside the koala and a two bedroom residence, with an 8-person spa.
The koala, at <a target="_blank" href="https://www.ballaratrealestate.com.au/index.cfm?pagecall=property&amp;propertyID=2197635&amp;realestate=5829_Western_Hwy_DADSWELLS_BRIDGE_VIC_3385">5829 Western Highway, Dadswells Bridge </a> is being marketed by Colin McIntosh from Ballarat Real Estate.
He has it listed with a business buyers guide of $150,000 + SAV and a freehold buyers guide of $400,000.
McIntosh says they have revised price expectations since listing.
“We’ve had a massive amount of interest. Rob has virtually had people from all over the country speaking to him,” McIntosh told Property Observer.
“He had so many interviews with radio and television and newspaper all over the country, it’s a unique operation and they’re very good operators.”
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The Giant Koala Grampians tourist attraction let loose on eBay

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Don’t trash your holiday apartments or you’ll get in trouble – that’s the message Strata Community Australia is telling schoolies.
Year 12 school leavers face criminal charges if they damage apartments rented out for their notoriously boozy post-exam holidays.
SCA President for NSW, David Ferguson says he feels compelled to issue the warning and that his counterpart in Queensland had done the same thing.
“Not only is the destruction of someone else’s holiday apartment wrong it can result in the owner asking the police to lay charges for criminal damage. Having a criminal record before you even begin to live in the real world is not a great start,” Mr Ferguson said.
“It will make it hard to get a job and may even make it difficult to travel overseas as some countries will not issue visas to people with a criminal record.”
He says apartment owners who do let out their apartments for schoolies rentals should reinforce with their short-term tenants that any damage must be paid for and that charges may be laid depending on the extent of the destruction.
“Owners also need to be aware that they can themselves face penalties if their tenants create a nuisance of themselves through noise and anti-social behaviour,” Ferguson says.
Schoolies runs from November 16 in Queensland and November 23 for New South Wales and Victoria.
Are you an investor who’s had their place trashed by schoolies? Email us <a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Schoolies warned not to trash apartments

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First home buyer lending has dropped to its lowest point since April 2004, according to the Australian Bureau of Statistics.
The proportion of first home buyers being lent money has dropped to 13.7% of borrowers for August, down from 14.7% in July.
<img src="/images/stories/2013/10/14/abslending.jpg" width="470" height="172" alt="abslending">
The Real Estate Institute of Australia says this is far lower than the long-run average proportion of 20.1% despite eight interest rate cuts since November 2011.
“In large part, this drop can be attributed to State Governments withdrawing previous levels of support for first home owners buying established dwellings and it is established dwellings that 80 per cent of first home buyers prefer,” REIA President Peter Bushby says.
“With the proportion of first home buyers remaining consistently below the long term average, despite the latest figures incorporating all the interest rate cuts, this and a review of inefficient state taxes such as stamp duty, need to be a high priority issue for the new Government.”
In trend terms the number of owner-occupied finance commitments rose by 0.6%, the lowest monthly increase, since January.
There were increases in trend terms in all states except Western Australia with the largest increase in the Northern Territory, up 2.3%.
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First home buyer lending drops to lowest point since 2004

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.

[smartcode_project:default project_id=150489 project_image_fid=373834]

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."

[smartcode_project:default project_id=150713 project_image_fid=373827]

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

Joel Robinson

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.

[smartcode_project:default project_id=151449 project_image_fid=357458]

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."

[smartcode_project:default project_id=151449 project_image_fid=357463]

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.

[smartcode_project:default project_id=151449 project_image_fid=357469]

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>.

[smartcode_project_cta:default project_id=151449]

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.

[smartcode_project:default project_id=134951 project_image_fid=368645]

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."

[smartcode_project:default project_id=134951 project_image_fid=358802]

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.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<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.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Alistair Walsh

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