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The first tenants have moved into Collins on Bourke, the largest mixed-use commercial development in the Sydney suburb of Alexandria in the past five years.
The development is about 45% leased after about seven months, with tenants including alcohol company Suntory (1,470 square metres leased at $385 per square metre), Samuel Smith &amp; Son and Negociants Australia (4,500 square metres of combined office and warehouse space), medical centre Galen &amp; Gray (450 square metres) and childcare facility Explore and Develop (550 square metres of internal space plus 550-square-metre balcony).
<img src="/images/stories/collinsonbourke1.jpg">
“Collins on Bourke offers tenants a contemporary business space with an ideal work like balance,” says Michael Crombie of Colliers International.
“Bourke Street is really buzzing, and it’s the clearest sign that this suburb is truly coming of age. Collins on Bourke will lead further change as tenants look for more creative, better quality and better value accommodation.”
Graphic and website design company Attractivo is set to move into one of the high-tech suites, having secured a lease for just under $35,000 per year.
“The tenancy mix we’ve attracted is outstanding and we’re expecting enquiry to only strengthen now the project is complete and the site starts to come to life,” says owner representative George Mitsis.
“It’s a clever diversity of accommodation and tenants have seen the value in what this combination of businesses can bring to them as occupiers of the space, but also the broader south Sydney community.
“It’s the kind of place that recognises the shift in how people are choosing to live and work.”
Collins on Bourke will be near Sydney’s $1.7 billion mixed-use Green Square developments, which is set to house about 20,000 homes and 22,000 jobs, according to the City of Sydney’s website.
<img src="/images/stories/collinsonbourke3.jpg">
A recent report <a href="https://www.propertyobserver.com.au/australian-capital-territory/fringe-office-markets-outpace-metro-neighbours/2011080451030">by The Property Council found that non-CBD office market vacancy rates</a> are declining at three times the speed of their CBD neighbours.
Collins on Bourke’s high-tech suites lease for about $450 per square meter per year, with showrooms along Collins and Bourke streets available for about $500 per square metre and high-clearance warehouse space for about $280 per square metre.
<img src="/images/stories/collinsonbourke2.jpg">
The four-level, 21,000-square-metre building was developed by HSF Property Developments and Grant Samuel Capital to a design by Turner &amp; Associates Architects.
Vicinity Wine Bar and Restaurant is set to open in the 600-square-metre prime position on the corner of Collins and Bourke in late June, which is when the building will officially open. Vicinity will belong to the Prospero Group, which is responsible for Manta Bar and Restaurant in Woolloomooloo.
The building will also include a Plus Fitness gym at ground level.
Construction began in October 2010 and finished in March this year.
 
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Commercial tenants move into Collins on Bourke in Sydney's Alexandria

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There were 831 sales in Perth for the week ending May 23. This is up from 671 the same week last year and up from the 762 four weeks ago.
<img src="/images/stories/reiwamay25.gif">
 
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Perth sales up 9.1% from four weeks ago: REIWA

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<a href="https://www.propertyobserver.com.au/industry-news/rolls-royce-lifestyle-over-for-refund-founder-wayne-ormond-as-creditors-to-investigate-if-company-traded-insolvent/2012052354812" target="_self"><img src="/images/stories/3.gif"></a>
The number of <a href="https://www.propertyobserver.com.au/industry-news/rolls-royce-lifestyle-over-for-refund-founder-wayne-ormond-as-creditors-to-investigate-if-company-traded-insolvent/2012052354812" target="_blank">Rolls-Royces that Refund Home Loans founder Wayne Ormond owned in the past</a>. He says they have all been disposed of or repossessed.
 
<hr>
 
<a href="https://www.propertyobserver.com.au/retail/zara-apple-and-reviving-cinemas-among-best-performing-westfield-tenants/2012052154767" target="_blank"><img src="/images/stories/2point7percent.gif"></a>
<a href="https://www.propertyobserver.com.au/retail/zara-apple-and-reviving-cinemas-among-best-performing-westfield-tenants/2012052154767" target="_blank"></a>The<a href="https://www.propertyobserver.com.au/retail/zara-apple-and-reviving-cinemas-among-best-performing-westfield-tenants/2012052154767" target="_blank"> turnover for Westfield in the mini-major category, which includes Zara and Apple along with the likes of JB Hi-Fi, Dick Smith and Priceline,</a> for the year to March. “Retailers such as Apple and Zara demonstrate the success that can be enjoyed through an exciting and engaging retail experience. These mini-majors are proving to be great destinational retailers,” said Westfield Retail Trust chairman Richard Warburton in his address to shareholders.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/queensland/mark-mcivors-gold-coast-palm-beach-vacant-block-listed-by-receivers-title-tattle/2012052254787"><img src="/images/stories/597sqm.gif"></a>
 
The<a target="_blank" href="https://www.propertyobserver.com.au/queensland/mark-mcivors-gold-coast-palm-beach-vacant-block-listed-by-receivers-title-tattle/2012052254787"> size of the Palm Beach vacant block belonging to Mark McIvor</a>, who recently resigned as managing director of Equititrust. It last traded in 1991 at $575,000, seemingly as part of a larger lot at the time. It’s been listed for June 2 receivership auction.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/developments/record-number-of-melbourne-apartments-to-be-completed-in-2013-followed-by-plummet-in-2014-charter-keck-kramer/2012052354814"><img src="/images/stories/14000.gif"></a>
The possible<a target="_blank" href="https://www.propertyobserver.com.au/developments/record-number-of-melbourne-apartments-to-be-completed-in-2013-followed-by-plummet-in-2014-charter-keck-kramer/2012052354814"> number of apartments that could be completed in Melbourne in 2013, according to Charter Keck Cramer</a>. However, in 2014 the great spurt in the apartment construction, which kicked off in 2011, will at least halve and possibly fall as low as just 4,000 apartments.
<hr>
<a href="https://www.propertyobserver.com.au/retail/perron-group-to-acquire-half-stake-in-three-centro-centres-for-%24690-million-setting-post-gfc-commercial-retail-record/2012051754740" target="_blank"><img src="/images/stories/690point4m.gif"></a>
The price <a target="_blank" href="https://www.propertyobserver.com.au/retail/perron-group-to-acquire-half-stake-in-three-centro-centres-for-%24690-million-setting-post-gfc-commercial-retail-record/2012051754740">privately owned Perron Group has agreed to payto acquire a 50% share in a portfolio of three Centro flagship regional shopping centres</a>. This is a post-GFC record.
 
<hr>
<a href="https://www.propertyobserver.com.au/victoria/top-selling-block-2011-richmond-property-reduces-asking-rent-title-tattle/2012052354806" target="_blank"><img src="/images/stories/1100.gif"></a>
The<a href="https://www.propertyobserver.com.au/victoria/top-selling-block-2011-richmond-property-reduces-asking-rent-title-tattle/2012052354806" target="_blank"> weekly asking rent for one of the four <city style="font-size: 14px; text-align: left;">Richmond</city> properties on the hit Channel 9 renovation series</a> <a href="https://www.propertyobserver.com.au/victoria/top-selling-block-2011-richmond-property-reduces-asking-rent-title-tattle/2012052354806" target="_blank">The Block 2011</a>.  It was the dearest home sold at last year's auction – <a target="_blank" href="https://www.propertyobserver.com.au/victoria/take-two-auction-frenzy-as-only-one-offering-left-on-the-block/2011082351266">the three-bedroom <street>37 Cameron Street</street> Edwardian cottage, which Josh and Jenna sold for $1 million</a> and had a weekly $1,250 asking rent last September.
 
<hr>
<a href="https://www.propertyobserver.com.au/leisure/slim-dusty-duncan-hotel-passed-in-title-tattle/2012052454824" target="_blank"><img src="/images/stories/2poin21m.gif"></a>
The price that the <a href="https://www.propertyobserver.com.au/leisure/slim-dusty-duncan-hotel-passed-in-title-tattle/2012052454824" target="_blank">Town &amp; Country hotel in St Peter's, Sydney, was passed in at.</a> It was immortalised in the Slim Dusty song Duncan. 
 
 
 
 
 
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The 7 must-know numbers of the week, starting with the number of Rolls-Royces Wayne Ormond owned

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66 Lumby Drive, Bateau Bay, NSW, 2261
<img src="/images/stories/bateaubay.jpg" width="470">
This eco-smart four-bedroom home has 1.5kW solar panels and is currently leased at $385 per week, which is at market rent for Bateau Bay houses. The tenants are on an expired lease but are keen to stay on. The house has recently been renovated and has new downlights, carpets and air-conditioning and has a front veranda with valley views.
LJ Hooker agent Paul Witney<a href="https://www.ljhooker.com.au/1MFH3X" target="_blank"> is marketing the property</a> with price hopes of $299000 plus, and if it sells for $299,000, that would secure an investor a gross rental yield of 6.7%, well above the gross indicative yield of 5.1% for Bateau Bay houses, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $9,000.
The median house price in Bateau Bay increased 1.3% in the past year, according to RP Data.
The property will be open for inspection Saturday, May 26 at noon and will go to auction Saturday, June 16 at 10am.
For more about prices and yields in Bateau Bay, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
 
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27 Main Road, Neerim South, VIC, 3831
<img src="/images/stories/neerimsouth.jpg">
The tenants of this three-bedroom house are friends with the vendors and are paying significantly below-market rent of $170 per week. They are on a lease until December, but listing agent Pauline Soutar of Harcourts says market rent for the house would be about $250 or $260 per week. The house is on a large 1,115-square-metre block and is within walking distance of shops and transport.
Soutar <a target="_blank" href="https://www.harcourts.com.au/Property/441063/VDN8482/27-Main-Road">is marketing the property</a> with price hopes of $230,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 3.8% at its current rent. A rental of $260 per week would secure an investor a gross rental yield of 5.9%. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $6,000.
The property will be open for inspection Saturday, May 26 at noon and will go to auction Saturday, June 2 at 10.30am.
 
 
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Friday form guide: Yields of up to 6.7% in Bateau Bay

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The Australian Competition and Consumer Commission has approved Fairfax Media’s 50% merger with Antony Catalano’s Metro Media Publishing business, publisher of Melbourne real estate advertising glossy The Weekly Review.
The ACCC said last night on its website it was not opposed to the $35 million cash and assets arrangement that sees Fairfax’s 32-mastehead suburban stable rolled in to the new entity, valued at around $125 million. The regulator commenced its review under its Merger Review Process Guidelines in February, and later sought more information from both sides of the tie-up and other interested parties.
The Weekly Review, which first hit footpaths two years ago, competed in parallel with Fairfax’s Melbourne Weekly for property ad supremacy in Melbourne’s leafy eastern, bayside and north-eastern suburbs. It had ripped more than $20 million out of Fairfax’s treasured real estate ad revenue, which it partly uses to subsidise its journalism initiatives.
Fairfax’s existing community footprint of 1.25 million households will now be combined with The Weekly Review’s 220,000 circulation, creating a bolstered entity to take on News Limited’s REA Group.
The merger, <a target="_blank" href="https://www.crikey.com.au/2011/11/09/real-estate-wars-fairfax-set-to-buy-back-half-of-catalanos-weekly-review/">foreshadowed by Crikey last November</a>, will leave Catalano as CEO of MMP. Fairfax acquired its stake by securing stakes from a number MMP shareholders that included leading real estate agents.
In an <a target="_blank" href="https://media.crikey.com.au/wp-content/uploads/2012/05/All.pdf">internal email to Fairfax staff</a>, obtained by Crikey, Fairfax “Marketplaces” executives Nic Cola and Tony Blamey said that “The ACCC decision is a great outcome for both businesses, staff and clients, because it presents us with opportunities for growth and ensures a positive, customer-focused future for our FCN business.
“Fairfax and MMP are both committed to further development of the business model that includes providing real estate agents with the opportunity to participate in product development. Therefore, the merger will also mean that our clients are much more aligned to our future business.”
Catalano was equally effusive: “The merger will position the new entity as a significant media player in the Victorian market,” he said.
“The scale of the merged businesses will provide us with the opportunity to grow into new markets and to develop new products to better suit readers and advertiser needs.
“On a personal level, I am thrilled to reconnect with the enormous talent pool that exists within Fairfax. I spent 18 years working for Fairfax and have great regard for its people and its brands. I am looking forward to the many talented Fairfax Community Network and Metro Media Publishing staff coming together and continuing to grow our business.”
Rumours were circulating this morning that a new Catalano-helmed website will be set up to complement Domain.
It is not known if the merger will lead to synergy sackings. Staff briefings will be held tomorrow morning at Fairfax’s Media House HQ and tomorrow afternoon at Dandenong and Airport West.
Fairfax shares closed at a record low of 65¢ last night.
This article originally appeared on <a target="_blank" href="https://www.crikey.com.au/">Crikey</a>.
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ACCC approves Fairfax-Weekly Review deal

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About 70% of Australian households own their homes, according to Credit Suisse. This is a relatively high percentage when compared with other countries around the world.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/csmay231.gif"><img src="/images/stories/csmay231thumb.gif"></a>
Source: Credit Suisse
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Australian home ownership at relatively high levels: Credit Suisse

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The value of lenders mortgage insurance claims have declined since the GFC, according to Credit Suisse.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/csmay232.gif" rel="shadowbox"><img src="/images/stories/csmay232thumb.gif"></a>
Source: Credit Suisse
 
 
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Australian mortgage insurance claims declining: Credit Suisse

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4 Howe Court, Thomastown, VIC, 3074
<img src="/images/stories/howest.jpg">
This property is currently vacant but has been recently tentanted at $300 per week, which Ray White agent Joe Torzillo says is at the market rent for the property. It has three bedrooms and is close to shops, schools, transport and the Western Ring Road. The 26-year-old house is on 602 square metres. It was passed in at its weekend auction for $300,000.
Torzillo<a href="https://www.raywhite.com/vic/thomastown/771925/" target="_blank"> is marketing the property</a> with price hopes of $360,000, and if it sells for $360,000 and if rented at $300 per week, that would secure an investor a gross rental yield of 4.3%. This is about at the indicative gross rental yield for Thomastown houses, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. Council fees are about $1,000 per annum.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $6,000 and over five years to be $13,000.
The median house price in Thomastown fell by 4.2% in the past year, according to RP Data.
For more about prices and yields in Thomastown, see the RP Data suburb page.
 
<hr class="system-pagebreak">
 
1 Harcourt Street, Blackburn North, VIC, 3130
<img src="/images/stories/harcourt1.jpg">
This property in need of renvation sold at its weekend auction for $450,000 to a buyer who intends to live in it. It had been rented at $310 per week, with a rent increase to $320 per week about to take effect. The tenants were on an expired lease but were keen to stay on. The block is 516 square metres and could be suitable for redevelopment, and Noel Jones agent Tim Penhalluriack says the new owners could possibly talk to a developer later down the track. It is within easy walking distance of North Blackburn Square Shopping Centre, Blackburn High and Old Orchard Primary. It has excellent access to the freeway.
Penhalluriack<a href="https://www.noeljones.com.au/property-details/3931451/" target="_blank"> </a>gave pre-auction price hopes of $420,000 plus.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $5,000.
The median house price in Blackburn North fell by 6.7% in the past year, according to RP Data.
For more about prices and yields in Blackburn North, see the RP Data suburb page.
 
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Investor form guide wrap: No takers for 4.3% yields in Thomastown

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Two huge auctions finished off the autumn season of <a href="https://www.propertytycoon.com.au" target="_blank">Property Tycoon</a>, a tipping website where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
<img src="/images/stories/albertcres.jpg">
At 39 Alfred Crescent, Fitzroy North (pictured above), a huge crowd of around 300 people looked on as two punters with deep pockets went toe to toe for almost half an hour and placing around 200 bids. When the bidding stopped the property had sold for $4.2 million.
The property was declared on the market at $3.55 million, so the vendor has netted an extra $650,000.
<img src="/images/stories/crownst1.jpg">
In Sydney the auction of 29/500 Crown Street, Surry Hills (pictured above) yielded a similar result. The uniqueness of the penthouse apartment drove two buyers to dig deep as the bidding stretched into extraordinary levels. The property finally sold for $1.6 million after initially being quoted at $1.2 million plus.
 
 
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Two bidders with deep pockets vied for magnificent Fitzroy North home in auction tipping competition

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<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/mrs-morris-stops-palm-beach-clifftop-sale-of-ex-gp-noble-boss-tony-morris-former-australian-home/2012051154666"><img src="/images/stories/5m.gif"></a>
The vendor bid in March for <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/mrs-morris-stops-palm-beach-clifftop-sale-of-ex-gp-noble-boss-tony-morris-former-australian-home/2012051154666">ex-GP Noble boss Tony Morris' Palm Beach clifftop home</a>. It was passed in at its March auction, and now his soon-to be-ex-wife, Vanessa Morris-Jackson, has stopped the sale. There was an application to the Australian Federal Magistrates Court by his bankruptcy trustee Andrew Wily to sell it - for reputedly about $4.6 million. But Magistrate Rolf Driver ruled against Wily’s application to delete the requirement for Vanessa’s consent to any sale of the northern beaches clifftop house.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/what-baby-boomers-retirement-will-mean-for-the-sydney-property-market-bis-shrapnel-s-martin-bregozzo/2012051354458"><img src="/images/stories/25percent.gif"></a>
The percentage of<a target="_blank" href="https://www.propertyobserver.com.au/residential/what-baby-boomers-retirement-will-mean-for-the-sydney-property-market-bis-shrapnel-s-martin-bregozzo/2012051354458"> Sydney's population who are baby boomers</a>. "Location is paramount" to this group, according to BIS Shrapnel's Martin Bregozzo, and "they will not be herded off to Sydney’s Never Never."
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/1st-fleet-s-stephen-brown-owns-just-one-thousandth-of-his-%2416-million-harbourfront-watson-bay-property-listing/2012051354676"><img src="/images/stories/1over1000.gif"></a>
The amount of equity that <a href="https://www.propertyobserver.com.au/new-south-wales/1st-fleet-s-stephen-brown-owns-just-one-thousandth-of-his-%2416-million-harbourfront-watson-bay-property-listing/2012051354676" target="_blank">1st Fleet boss Stephen Brown has in his Sydney Harbour home</a>, which is on the market with $16 million price hopes. His wife, Corrine, holding the remaining 999/1,000 equity.
 
<hr>
<a target="_blank" href="https://mcconnellbourn.com.au/buying/NSW/North-Shore-Upper/PYMBLE/House/1P2397"><img src="/images/stories/31.gif"></a>
The number of contracts estate agency McConnell Bourn has received for the property at at <a target="_blank" href="https://mcconnellbourn.com.au/buying/NSW/North-Shore-Upper/PYMBLE/House/1P2397">55 Beechworth Road, Pymble</a>, which is going to auction on Saturday.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/western-australia/warren-andersons-wa-beachfront-retreat-kennebunkport-s-revised-pricing-title-tattle/2012051454623"><img src="/images/stories/5point2mplus.gif"></a>
The revised price hopes for Kennebunkport, the <a target="_blank" href="https://www.propertyobserver.com.au/western-australia/warren-andersons-wa-beachfront-retreat-kennebunkport-s-revised-pricing-title-tattle/2012051454623">Western Australian beachfront retreat of bankrupt property developer Warren Anderson</a>. The six-bedroom home has direct beach access, high ceilings and jarrah floors.
 
<hr>
<img src="/images/stories/2.gif">
The number of lenders that passed on the full RBA 50-basis-point rate cut. Of the bigger lenders, ING Direct is offering the lowest standard variable rate of 6.44%.
 
<hr>
<a href="https://www.propertyobserver.com.au/overseas/christopher-robins-16th-century-childhood-home-on-nine-not-100-acres-on-the-market/2012051554699" target="_blank"><img src="/images/stories/2mpounds.gif"></a>
The starting price <a href="https://www.propertyobserver.com.au/overseas/christopher-robins-16th-century-childhood-home-on-nine-not-100-acres-on-the-market/2012051554699" target="_blank">for the East Sussex childhood home of Christopher Robin, of Winnie the Pooh fame</a>. It’s the first time in over four decades the 16th-century English house on nine (not 100) acres has been offered for sale.
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The 7 must-know numbers of the week, starting with the vendor bid for ex-GP Noble boss Tony Morris' Palm Beach home

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."

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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.

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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.

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The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

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According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

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Why now is the time to buy in Melbourne's premium apartment market

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

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

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

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

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[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.

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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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Cassidy Knowlton

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