<html><body>
The pending move of federal cabinet offices to the sustainable development at 1 Bligh Street is set to cost $21 million, according to the Department of Finance and Deregulation.
The department has released details of the proposed fit-out of the new offices after Special Minister of State Gary Gray <a target="_blank" href="https://www.propertyobserver.com.au/office/government-aims-to-move-into-dexus-ultra-green-1-bligh-street/2011103052118">confirmed the move in October 2011</a>.
The DoFD plan to lease floors 19, 20 and 21 of the 30-level building – a total of 4,891 square metres.
The move still needs to be approved by the public works committee.
The new premises will serve as the offices for the Prime Minister, cabinet, ministers, office holders, Opposition Leader and visiting senators and members.
The building has been marketed as being environmentally friendly, featuring a 135-metre-high 16-metre diameter atrium, a double-skin climate-controlling glass façade, energy-efficient air-conditioning, its own energy generation mechanisms, solar panels and water recycling facilities. It has been awarded a six-star green star rating, the first high-rise building in Australia to get the rating.
The Sydney Commonwealth Parliament Offices are currently at 70 Phillip Street, but the building is said to be too old and of too poor condition to continue leasing. It was built 30 years ago and served the Hawke government.
“Due to the age and condition of the accommodation, as well as inherent faults that cannot be overcome by a refit, it was considered undesirable to sign a new long-term lease on the premises,” the DoFD report says.
“Other factors driving the decision to relocate include the safety, security, parking, access and amenity of the building, none of which are appropriate for the required use.”
It was suggested in March that terrorism-related parking restrictions caused headaches for parliamentarians.
“It is no longer possible for vehicles to wait kerbside for parliamentarians who are exiting from the building. This leads to situations where parliamentarians wait on the street while their COMCAR drives around the block,” the report says.
The building features a commercial childcare centre on the lower ground floor and has space for 270 bicycles.
The preliminary layouts were prepared by Davenport Campbell.
Works on the site are due to commence in September with a move-in date of December this year.
The Dexus-owned building <a href="https://www.propertyobserver.com.au/office/dexus-1-bligh-street-criticised-over-price-design-and-views/2011101952002">has been the subject of comment</a> over its office plate design, restricted harbour views and premium rents.
The building has been limited in finding tenants given the high cost of rent. It cost $629 million to build. As of March it was 82% tenanted.
The building provides 42,000 square metres of net lettable area over 27 levels.
It was officially opened in August 2011 by Prime Minister Julia Gillard.
Public submissions to the leasing inquiry closed April 24.
The committee will hold a public hearing on the proposed fit-out on May 3 in Sydney.
 
 
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awalsh-7Ub9EypybQ

Government expected to move into 1 Bligh Street by the end of the year

<html><body>
LJ Hooker has appointed a new chief executive officer. Georg Chmiel will take over from L. Janusz Hooker, who will take up the role of the group’s deputy chair.
Chmiel was the chief financial officer and general international manager at REA Group Ltd for almost six years before he resigned in 2010 to become chief operating officer at LJ Hooker.
Janusz Hooker, the grandson of the company's founder Leslie Hooker, acquired the business in an $82 million deal in 2009.
“It gives me great pleasure to appoint L. Janusz Hooker to the role of deputy chair of LJ Hooker in recognition of his role in leading the business and setting the foundation of future growth. He will continue to play a vital role in the future success of the LJ Hooker business,” says LJ Hooker chairman Greg Paramor.
“Georg has been a key member of the LJ Hooker executive team for more than two years.
“Together with myself and Janusz, Georg will oversee the next phase of growth for the company.”
Paramor says LJ Hooker’s top sales performers outperformed the market by 14% over the past year.
“We have added 36 new offices and 500 new sales people to our business in 2011, bringing the LJ Hooker network to a total of 690 offices,” says Paramor.
 
 
 
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LJ Hooker appoints Georg Chmiel as new CEO

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A 20-hectare farm in Victoria’s Dandenong Ranges has been listed with hopes of more than $1.6 million.
Tivoli Farm, on the banks of Menzies Creek at Clematis, comes with a 1910-built homestead set amid English gardens and laurel hedged paddocks, suitable for horses or cattle.
The farm was once a gooseberry farm owned by the Australasian Jam Company (AJC) and originally belonged to one of the earliest selections in the district.
Former St Kilda publican Michael O’Connor established the farm when moved there in 1900 – the same year the region’s famous steam train, Puffing Billy, opened. He planted an orchard and raised cattle until his death in 1915, when the farm was sold to AJC.
The produce of the berry and laurel bushes were transported to Melbourne via Puffing Billy.
The train ran until a landslide forced its closure in 1953. It has since reopened as a weekend tourist attraction.
AJC have since been incorporated into IXL Jam.
The current owners, Tanina and Logan Connolly, have been unable to further investigate the history of their property after shire records were destroyed in the Sherbrooke and Ferntree Gully bushfires in the early 1900s.
“We're not sure when they stopped growing berries on the farm; we think they went well into the 1920s or '30s. The berries are gone, but all the hedges are still here," Tanina told the Weekly Times.
"We just fell in love with the building – it has the most magnificent return veranda – and it's a beautiful place to live."
The garden has 100 year-old trees including Irish strawberry trees, tulip trees, Cunningham pine, copper beech, chestnuts, black woods, maples and elms including a weeping elm.
The four-bedroom homestead has been renovated since the Connollys bought the property 28 years ago. They’ve retained the original period detail while installing a new kitchen and bathrooms. It comes with a granite benched kitchen, conservatory, a formal lounge, five open fireplaces and a banquet hall with French doors leading onto a large veranda.
The house is surrounded by numerous outhouses, which were once used as packing sheds. The agents are marketing these as potential offices or granny flats.
The couple planted 600 hazelnut trees with the intention of growing truffles, but instead focused on their gift card and information technology consulting business.
The land consists of pasture country with rich red mountain soils.
The property is being marketed as a possible base for a country retreat or a bed and breakfast.
Matt Childs from Pat Rice and Hawkins Melbourne has the listing, which goes to auction on May 12.
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Tivoli Farm in Victoria’s Dandenong Ranges listed with price hopes of $1.6 million plus

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The Victorian Department of Treasury and Finance has sold a 10,000-square-metre block in Melbourne’s outer east for $2.5 million.
The long triangular Wantirna South block sold to a local landowner after passing in at its March auction.
It was originally bought by the government to be part of the EastLink development.
As with all Crown land sales in Victoria, it is exempt from stamp duty.
<img src="/images/stories/wantirnasth.jpg" width="350" style="float: left; margin: 5px;">
The land is still road zoned but Knox City Council is expected to rezone it.
Prior to the auction, Colliers agents Ben Baines and Hamish Burgess said there had been significant interest from developers looking to build a medium density residential development.
There were 30 to 40 people at the auction, with “a couple of interested parties”, according to Baines.
The property comes with a 361-metre frontage on High Street Road and Cathies Lane and sits just next EastLink.
Baines was hoping to sell the property at a mid-$2 million price point.
“They have mentioned they are selling a bit more land, but I’m not aware if this being part of any bigger picture,” Baines says.
 
 
 
 
 
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Victorian Treasury Department sells surplus EastLink site at Wantirna South for $2.5 million

<html><body>
Residex boss John Edwards has given a relatively upbeat assessment of the national property market – with the notable exception of Melbourne.
The major worry is in Melbourne, where Edwards says there is an overhang of stock.
“I’m worried about Victoria,” he says.
“When I look at the Victorian economy, I can’t see anything that’s actually going to do it any good.
“It’s on the wrong side of the ledger,” he <a href="https://www.skynews.com.au/video/?vId=3196049&amp;cId=Programs&amp;play=true" target="_blank">told Peter Switzer on Sky Business</a>, noting what he called a 70% overhang of stock in Melbourne, the largest stock overhang of any capital in Australia.
“It happened because you had a government that was interested in propping up an economy that was failing because of a failing manufacturing industry by increasing immigration.
“It thought if it just brought people to the state then the problem would be solved, and it borrowed to do that.”
Edwards says that many of the new jobs were in the spurt that built more housing, but as “always developers fail to recognise when the turning point is, and they’ve failed”.
The industry, he says “still hasn’t recognised the overhang in stock”.
Nationally he says there is a slight oversupply in stock but foresees a national shortage soon, with Perth leading the way.
“There is potentially a slight oversupply of stock nationally. Slight. But we will have a shortage of stock coming into the future,” he says.
“Perth is just going gangbusters. [With] the pickup in activity, it’s got a very clear shortage of stock.
“The population is increasing, jobs are increasing.  It’s the only state in Australia where you’ve had this quite dramatic increase in full-time job activity.”
He says New South Wales and Queensland would benefit from a Reserve Bank interest rate cut but Melbourne has the most desperate need.
“New South Wales has clearly turned the corner. It’s tentative, however. It needs this interest rate reduction to really push it forward. Queensland has turned the corner as well. It looks like it’s about to do quite well. The interest rate cut is needed there.”
“The only state that really badly needs this interest rate cut is the manufacturing state of Victoria.”
Nationally he says the investor market is improving in most cities and will continue to go up.
“You’re not seeing the investors ploughing into Victoria but you are seeing them come back into Queensland, New South Wales and Western Australia.”
“And they’re staying away from Darwin, but they should be moving back shortly.”
He says affordability and investor activity is driving activity in the unit market. He says the increasing growth rate in most capital cities is in the unit market.
National property prices are due to keep rising with exception of the Gold Coast, he says.
“I’m not worried about falls. All of the markets are turning back up. Gold coast is still a worry. It’s difficult on the Gold Coast.”
“Brisbane is clearly showing a trend now out of its correction phase.”
 
 
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Melbourne housing market on the ‘wrong side of the ledger’: Residex boss John Edwards

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Properties in just one locality in the City of Ipswich have changed in value since last year, according to the Queensland Valuer-General’s annual valuation.
Medium prices in the rural locality of Deebing Heights increased 1.3% from $197,500 in 2010 to $200,000 in 2011, according to Valuer-General Neil Bray.
Bray found medium prices in Ipswich’s 66 other localities stayed the same from October 2010 to October 2011.
Over the whole region prices increased 0.1%, reflecting the static market in the area.
Bray says allowances made in 2010 for flood-affected properties had been carried for into the new valuations.
“Apart from isolated changes to reflect environmental changes or local sales evidence residential valuations are predominantly unchanged,” Bray says.
“Minor changes were recorded in commercial values with some neighbourhood shopping centre values increasing slightly.”
The City of Ipswich recently topped an RBA list of the regions with the highest rates of mortgage arrears.
<table border="0" cellspacing="0" cellpadding="0" width="460"><tbody>
<tr>
<td width="91" valign="top">
Residential localities
</td>
<td width="133" valign="top">
Previous median value ($)
</td>
<td width="120" valign="top">
New median value ($)
</td>
<td width="116" valign="top">
Change in median value (%)
</td>
</tr>
<tr>
<td width="91" valign="top">
Deebing Heights
</td>
<td width="133" valign="top">
197,500
</td>
<td width="120" valign="top">
200,000
</td>
<td width="116" valign="top">
1.3
</td>
</tr>
<tr>
<td width="91" valign="top">
Amberley
</td>
<td width="133" valign="top">
86,000
</td>
<td width="120" valign="top">
86,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Ashwell
</td>
<td width="133" valign="top">
97,500
</td>
<td width="120" valign="top">
97,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Augustine Heights
</td>
<td width="133" valign="top">
207,000
</td>
<td width="120" valign="top">
 
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Barellan Point
</td>
<td width="133" valign="top">
202,500
</td>
<td width="120" valign="top">
202,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Basin Pocket
</td>
<td width="133" valign="top">
131,000
</td>
<td width="120" valign="top">
131,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Bellbird Park
</td>
<td width="133" valign="top">
148,000
</td>
<td width="120" valign="top">
148,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Blackstone
</td>
<td width="133" valign="top">
140,000
</td>
<td width="120" valign="top">
140,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Booval
</td>
<td width="133" valign="top">
132,000
</td>
<td width="120" valign="top">
132,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Brassall
</td>
<td width="133" valign="top">
152,500
</td>
<td width="120" valign="top">
152,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Bundamba
</td>
<td width="133" valign="top">
128,000
</td>
<td width="120" valign="top">
128,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Calvert
</td>
<td width="133" valign="top">
67,000
</td>
<td width="120" valign="top">
67,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Camira
</td>
<td width="133" valign="top">
182,500
</td>
<td width="120" valign="top">
182,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Churchill
</td>
<td width="133" valign="top">
136,000
</td>
<td width="120" valign="top">
136,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Chuwar
</td>
<td width="133" valign="top">
165,000
</td>
<td width="120" valign="top">
165,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Coalfalls
</td>
<td width="133" valign="top">
144,000
</td>
<td width="120" valign="top">
144,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Collingwood Park
</td>
<td width="133" valign="top">
127,000
</td>
<td width="120" valign="top">
127,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Dinmore
</td>
<td width="133" valign="top">
115,000
</td>
<td width="120" valign="top">
115,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
East Ipswich
</td>
<td width="133" valign="top">
126,000
</td>
<td width="120" valign="top">
126,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Eastern Heights
</td>
<td width="133" valign="top">
149,000
</td>
<td width="120" valign="top">
149,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Ebbw Vale
</td>
<td width="133" valign="top">
123,000
</td>
<td width="120" valign="top">
123,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Ebenezer
</td>
<td width="133" valign="top">
93,000
</td>
<td width="120" valign="top">
93,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Flinders View
</td>
<td width="133" valign="top">
155,000
</td>
<td width="120" valign="top">
155,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Gailes
</td>
<td width="133" valign="top">
115,000
</td>
<td width="120" valign="top">
115,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Goodna
</td>
<td width="133" valign="top">
124,000
</td>
<td width="120" valign="top">
124,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Grandchester
</td>
<td width="133" valign="top">
68,500
</td>
<td width="120" valign="top">
68,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Haigslea
</td>
<td width="133" valign="top">
130 750
</td>
<td width="120" valign="top">
130 750
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Ipswich
</td>
<td width="133" valign="top">
150,000
</td>
<td width="120" valign="top">
150,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Ironbark
</td>
<td width="133" valign="top">
108,000
</td>
<td width="120" valign="top">
108,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Karalee
</td>
<td width="133" valign="top">
172,500
</td>
<td width="120" valign="top">
172,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Karrabin
</td>
<td width="133" valign="top">
124,000
</td>
<td width="120" valign="top">
124,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Lanefield
</td>
<td width="133" valign="top">
93,000
</td>
<td width="120" valign="top">
93,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Leichhardt
</td>
<td width="133" valign="top">
125,000
</td>
<td width="120" valign="top">
125,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Lower Mount Walker
</td>
<td width="133" valign="top">
100,000
</td>
<td width="120" valign="top">
100,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Marburg
</td>
<td width="133" valign="top">
94,000
</td>
<td width="120" valign="top">
94,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Moores Pocket
</td>
<td width="133" valign="top">
107,000
</td>
<td width="120" valign="top">
107,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Mount Forbes
</td>
<td width="133" valign="top">
70,000
</td>
<td width="120" valign="top">
70,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Mount Marrow
</td>
<td width="133" valign="top">
156,250
</td>
<td width="120" valign="top">
156,250
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Muirlea
</td>
<td width="133" valign="top">
141,000
</td>
<td width="120" valign="top">
141,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Newtown
</td>
<td width="133" valign="top">
150,000
</td>
<td width="120" valign="top">
150,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
North Booval
</td>
<td width="133" valign="top">
120,000
</td>
<td width="120" valign="top">
120,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
North Ipswich
</td>
<td width="133" valign="top">
125,000
</td>
<td width="120" valign="top">
125,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
North Tivoli
</td>
<td width="133" valign="top">
87,000
</td>
<td width="120" valign="top">
87,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
One Mile
</td>
<td width="133" valign="top">
125,000
</td>
<td width="120" valign="top">
125,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Peak Crossing
</td>
<td width="133" valign="top">
93,500
</td>
<td width="120" valign="top">
93,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Pine Mountain
</td>
<td width="133" valign="top">
183,000
</td>
<td width="120" valign="top">
183,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Purga
</td>
<td width="133" valign="top">
132,000
</td>
<td width="120" valign="top">
132,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Raceview
</td>
<td width="133" valign="top">
138,000
</td>
<td width="120" valign="top">
138,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Redbank
</td>
<td width="133" valign="top">
130,000
</td>
<td width="120" valign="top">
130,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Redbank Plains
</td>
<td width="133" valign="top">
142,000
</td>
<td width="120" valign="top">
142,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Ripley
</td>
<td width="133" valign="top">
136,000
</td>
<td width="120" valign="top">
136,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Riverview
</td>
<td width="133" valign="top">
110,000
</td>
<td width="120" valign="top">
110,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Rosewood
</td>
<td width="133" valign="top">
119,000
</td>
<td width="120" valign="top">
119,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Sadliers Crossing
</td>
<td width="133" valign="top">
155,000
</td>
<td width="120" valign="top">
155,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Silkstone
</td>
<td width="133" valign="top">
134,000
</td>
<td width="120" valign="top">
134,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
South Ripley
</td>
<td width="133" valign="top">
80,000
</td>
<td width="120" valign="top">
80,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Springfield
</td>
<td width="133" valign="top">
165,000
</td>
<td width="120" valign="top">
165,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Springfield Lakes
</td>
<td width="133" valign="top">
160,000
</td>
<td width="120" valign="top">
160,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Tallegalla
</td>
<td width="133" valign="top">
117,000
</td>
<td width="120" valign="top">
117,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Thagoona
</td>
<td width="133" valign="top">
108,500
</td>
<td width="120" valign="top">
108,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Tivoli
</td>
<td width="133" valign="top">
107,000
</td>
<td width="120" valign="top">
107,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Walloon
</td>
<td width="133" valign="top">
150,000
</td>
<td width="120" valign="top">
150,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
West Ipswich
</td>
<td width="133" valign="top">
120,500
</td>
<td width="120" valign="top">
120,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Willowbank
</td>
<td width="133" valign="top">
134,000
</td>
<td width="120" valign="top">
134,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Woodend
</td>
<td width="133" valign="top">
142,000
</td>
<td width="120" valign="top">
142,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Wulkuraka
</td>
<td width="133" valign="top">
139,000
</td>
<td width="120" valign="top">
139,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Yamanto
</td>
<td width="133" valign="top">
157,500
</td>
<td width="120" valign="top">
157,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
All residential localities
</td>
<td width="133" valign="top">
139,000
</td>
<td width="120" valign="top">
139,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
</tbody></table>
</body></html>

Land values on hold in past year in Ipswich, mortgage arrears capital of Australia

<html><body>
Queensland Premier Campbell Newman has vowed to reduce real estate red tape by scrapping the controversial sustainability declaration forms as well as reinstating state stamp duty concessions.
Deputy Premier Jeff Seeney says it will be the Queensland government’s first legislative move when Parliament resumes in mid-May.
The mandatory forms were introduced in 2010 as a way for buyers to determine green credentials but were criticised by the real estate industry as an inefficient inconvenience in an already difficult market.
Seeney says the bureaucratic forms added little benefit to buyers.
"It was just about feel-good green preferences rather than any sort of outcome at all,'' he told The Courier Mail.
Originally proposed in 2008, the sustainability declarations were pitched as a way for buyers to compare the energy efficiency credentials of competing properties.
With fines of up to $2,000 for sellers who failed to complete the forms, the former Bligh government was forced to drop some of the more confusing questions after an outcry from sellers and the real estate industry.
The initial two-page form asked sellers to detail items including the star rating of appliances and the width of hallways before the property could go to market.
Many questions were later dropped, including one that asked sellers to detail "at least one entry from outside to inside the dwelling is provided by either a level entrance, no more than three steps, a ramp or a lift''.
Despite these revisions the document continued to attract criticism over questions including asking about the number of east- and west-facing windows, the colour of the roof and the star rating of toilets.
Seeney says helping the property sector will aid the recovery of the Queensland economy.
He says more efficient decision-making would also help the sluggish industry.
"What the industry wants is timely decisions.”
"If it is 'yes' let them get on with it, and if it is a `no' then let them know so they can get on with something else.''
The government will also reintroduce stamp duty concessions.
"Cabinet also formally approved the reinstatement of the principal place of residence stamp duty concession from 1 July 2012, which will save Queenslanders up to $7,000 when they purchase an average family home,'' Newman says.
The concession was dropped in June 2011 by then Queensland treasurer Andrew Fraser in a bid to raise an estimated $161 million for the state government.
 
 
 
</body></html>

Queensland government vows to cut real estate red tape and reinstate stamp duty concessions

<html><body>
Only Darwin and Hobart went against the national trend of static or falling rents over the March quarter according to the latest APM rental report.
The report found rents remained stable or fell during the March quarter in most capital cities, giving temporary relief to renters.
But senior economist at APM Dr Andrew Wilson says flat or falling rental growth for both units and houses in most capital cities has not resulted in falling gross rental yields.
The median weekly asking rent for houses in Australia was $409 for the March quarter, while median asking rent for units declined 1.1% to $401 over the same period.
Darwin had the greatest quarterly and yearly rent increase for houses but was the only capital where yields went down for houses. House rents rose 3.6% over the quarter and 11.8% over the year to $570 a week. House yields went up 9.6% over the year to 4.94%. Unit rents are down 2.1% over the quarter but up 2.2% over the year, while unit yields went up 11.2% over the year to 5.58%.
Hobart house rents increased, but the Tasmanian capital had the greatest yearly fall for unit rents. It was the only capital where unit yields went down over the year. It had the greatest yearly fall in yields for houses. House rents rose 3.1% over the quarter to $330 a week, up 1.5% over the year. House yields are down 1.4% over the year to 5.23%. Unit rents are unchanged over the quarter and down 3.7% over the year. Unit yields are down 1.3% for the year to 5.13%.
<img src="/images/stories/apmapril13.gif">
Sydney had the greatest quarterly fall for unit rents over the quarter. House rents remain unchanged over the quarter at $500 a week, up 2% over the year. House yields are up 5.8% for the year to 4.71%. Unit rents are down 2.2% over the quarter to $450 a week and unchanged over the year. Unit yields are up 3.7% over the year to 5.18%.
<img src="/images/stories/apmapril134.gif">
Melbourne had the greatest yearly fall for house rents. It had the greatest yearly increase in yields for houses. House rents remain unchanged over the quarter at $360 a week, down 1.4% over the year. House yields are up 11% over the year to 4.12%. Unit rents are unchanged over the quarter and over the year at $350 a week. Unit yields are up 4.6% over the year to 4.63%.
Brisbane had the greatest yearly increase for units. House rents are unchanged over the quarter at $380 a week, up 2.7% over the year. House yields are up 7.7% over the year to 5.08%. Unit rents are unchanged over the quarter at $365 a week up 4.3% over the year. Unit yields are up 6.6% over the year to 5.29%.
<img src="/images/stories/apmapril132.gif">
In Adelaide house rents are down 0.6% over the quarter and over the year at $338 a week. Yields for houses went up 6% over the year to 4.69%. Unit rents are unchanged over the quarter and over the year at $280 a week. Unit yields are up 4.2% over the year to 4.98%.
Perth had the greatest yearly increase in yields for units. House rents are unchanged over the quarter at $400 a week, up 3.9% over the year. House yields went up 10.8% over the year to 4.92%. Unit rents are unchanged over the quarter at $350 a week, up 2.9% over the year. Unit yields increased 16.6% over the quarter to 5.5%.
over the year to 5.29%.
 
<img src="/images/stories/apmapril133.gif">
In Canberra hose rents are down 2% over the quarter at $490 a week, up 2.1% over the year. House yields increased 3.9% over the year to 4.97%. Unit rents are down 1.1% over the quarter to $435 a week up 1.2% over the year. Unit yields are up 3.7% over the year to 5.65%.
Wilson says increased buyer activity over the March quarter has taken some pressure off rental markets, but the reprieve won’t last long.
“Improved housing affordability with the bottoming of the price cycle, falling interest rates and an improved economic outlook has facilitated increased buyer activity in most capital cities particularly from first homeowners,” says Wilson.
“This has taken some demand pressure off rental markets with flat rental growth recorded over the March quarter as a consequence.
“However with ongoing shortages of accommodation, low levels of new supply and continued inactivity by investors, upward pressure on rentals can be expected to resume in most centres over 2012.”
He says this is particularly evident in Sydney where ABS figures show a 60% state-wide surge in first homebuyer loans over the last quarter of 2011 which has reduced demand for rental properties, particularly units.
“Units continue to provide higher gross rental returns compared to houses in all the mainland capitals,” says Wilson.
“Gross investment yield growth should track sideways from mid-2012 as prices and rental increases emerge concurrently.”
He says Melbourne continues to be most tenant-friendly capital.
Photograph courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
 
 
 
 
</body></html>

Rents stable or falling in all capitals bar Darwin and Hobart in March quarter: APM

<html><body>
Perth rents are expected to keep rising as vacancy rates remain low and tenants face increased competition for houses, according to the Real Estate Institute of Western Australia.
Median rents have increased to $420 a week during the March quarter, up 10% from the same time last year, REIWA figures show, but there are reports of many potential tenants offering $50 to $100 more a week to secure a lease.
Earlier this year callers to ABC radio's 720 morning program told of 30 to 40 people turning up to open homes only to find out later the successful applicant had offered significantly more than the advertised price.
REIWA President David Airey told the ABC that while it's not illegal and landlords are unlikely to reject the extra money, it's not a practice he encourages.
Managing director of Stockland Matthew Quinn says suburban Perth had once been one of the softer rental markets in Australia but vacancy rates in Stockland projects there have fallen to less than 1%.
"Rents are going through the roof, just ask anybody who's tried to rent a house in Perth in the last six months – it is a nightmare," says Quinn.
Quinn predicts the housing shortage will lead to a rental crisis. He says massive queues of house-hunters at rental inspections will drive rental prices up.
"It's already happening and it's going to happen in greater and greater numbers because housing is undersupplied, it's unaffordable and rents are now going up."
Properties for sale outnumber those for rent by more than three to one in many Perth suburbs, recent RP Data figures show.
Rental vacancies reached a four-year low during February – dropping from 2.3% to just 1.6% according to REIWA, a drop of 700 houses.
The institute's data show the metropolitan vacancy rate at 1.9% for the first three months of the year, but during the months of February and March alone it dropped to 1.6%. Airey says a vacancy rate of 3% indicates a balanced market.
"The overall median rent for Perth is now $420 per week, which breaks down to $425 for a house or $400 for a unit, villa or townhouse," Airey says.
"REIWA data show that the stock level for rental accommodation has improved by 12% since the start of March, in sharp contrast to the 28% fall during January and February.
"The good news for tenants is that the vacancy rate does not appear to be dropping any further and seasonal demand is levelling off."
Airey says while there is strong demand for accommodation Perth will avoid the rental crisis of March 2007.
</body></html>

Perth rents rise to $420 weekly median but no rental crisis looming: REIWA

<html><body>
Melbourne pub mogul John van Haandel has listed Quicksilver’s new flagship retail store in Byron Bay this week, with hopes of $6 million.
Quicksilver signed a 10-year lease for the property with 618 square metres of floorspace in March this year after it was custom built for the company.
Van Haandel also runs the neighbouring Beach Hotel.
<img src="/images/stories/quicksilver.jpg">
The purpose-built property includes two apartments above the shop, which Quicksilver says will ?offer tourists and surfing fans the chance to live, breathe and sleep the Quiksilver brand.
Jones Lang LaSalle is selling the property, which earns a net income of $393,300 per annum with 3.5% annual reviews.
The property lies on the northern end of Jonson Street near Bay Street and has significant frontage to the Jonson Street retail precinct and council car park which services Byron’s main beach.
There is parking for eight cars at the rear of the property.
Sam Hatcher and Stuart Taylor have the listing with expressions of interest closing on May 16.
 
</body></html>

Melbourne publican John van Haandel lists Quicksilver's flagship Byron Bay store 

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."

[smartcode_project:default project_id=1979 project_image_fid=363228]

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."

[smartcode_project_cta:default project_id=1979]

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.

[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

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>.

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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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