<html><body>
A $100 million resort complex in Queensland owned by developer and marina group Meridien has been placed into voluntary administration.
The 124-unit One Bright Point project, of which 114 apartments have been sold, is now being looked after by BRI Ferrier, which will look to sell the remaining apartments.
It’s understood the project was hit by the weakened property market, troubles in the tourism industry, the Queensland natural disaster and the strong Australian dollar.
The move follows the appointment of receivers to the Meridien-owned Port of Airlie project, Abel Point marina and Horizon Shores marina, the latter with approvals for up to 2000 berths and promoted as being on its way to becoming Australia’s largest marina.
Of its four marinas across Queensland only one of Meridien Marinas' assets is not in administration – its marina in Port Douglas is said to be unaffected by troubles in the industry.
Early this month Meridien Marinas managing director Russell McCart said Abel Point and Horizon Shores were both “excellent assets and have a great future and will continue to trade very well”.
“The receivers have re-employed all marina staff and will continue to operate as usual, without disruption,” McCart says.
He said the collapse can be attributed to the “ongoing GFC and strong Australian dollar” creating difficulty trading conditions for Australia’s boating industry.
Most marinas in Australia are owned by small companies or family companies, the Marina Industries Association of Australia has said.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/property/20110927-100m-queensland-resort-complex-owned-by-developer-and-marina-group-meridien-in-administration">SmartCompany</a>.
</body></html>

cknowlton-QnEa6ntUYP

Meridien's $100 million Queensland resort complex in administration 

<html><body>
Keep your eye on Hong Kong and Shanghai in this market rally.
And remember that global stock markets, including Australia, are dominated by professional traders working for the big investment banks and institutions. Given world instability, they are moving markets up and down while putting pressure on politicians and central bankers to find a permanent solution to the European crisis.
The current rally was created because traders had oversold the market, and politicians and central bankers spread the word that they would at last take action.
If that action is yet another Band-Aid and does not include a massive reconstruction of European banks to recognise their losses, then the counter-cyclical rally will run out of steam and the bear market will resume.
But counter-cyclical rallies can be substantial.
What’s happening in Europe has a direct impact on Australia. Outgoing Commonwealth Bank chief executive Ralph Norris dared to tell the truth when he warned that the looming Australian interest rate cuts might not be passed on in full because the turmoil in Europe is boosting the cost of overseas borrowings – which Australian banks require to fund about 40% of their book.
I could be wrong, but my guess is that the Europeans need to feel more market pain before they will take required action.
But while the Europeans dither, there is an emerging property problem in Hong Kong and China, which sent the Hong Kong market to a 26-month low yesterday and saw a continued steady decline in Shanghai.
Last year when the Chinese central banks began the process of tightening, Chinese property developers and state-owned enterprises found private loans to keep up their development momentum. Property gluts are now emerging, and Shanghai and Hong Kong prices are starting to fall. This is weighing on both the Hong Kong and Shanghai markets and is one reason why the price of copper is being hammered (although there was a late rally last night, which recovered a further big fall).
All this may be lost in the current market rally but if there is a sharp cutback in Chinese apartment construction, it will affect commodities. The Chinese government is looking at further stimulation but it also has an eye to inflation.
For Australia, how China plays out will be as important as what is happening in Europe, and Europe needs Chinese money to recapitalise its banks. If China has a crunch of its own at the time of the European crisis, then the world faces a new degree of danger.
But meanwhile, enjoy the rally and, as I told Eureka Report readers last week, if you are uncomfortable with your levels of equity then these rallies give you the chance to adjust your exposure.
This article first appeared on <a href="https://www.businessspectator.com.au/" title="Business Spectator" target="_blank">Business Spectator</a>
</body></html>

China's property market threat to Australia: Gottliebsen

<html><body>
Collingwood is no longer a centre of factories and manufacturing, but its industrial past is attracting Melbourne buyers in a new development.
The Islington Silos, a conversion of heritage-listed grain silos that used to serve the James Hood &amp; Co malt house, have been popular with Melburnians, with all 21 apartments selling off the plan within three months of their pre-sales launch in April. The neighbouring warehouse is being converted into 27 apartments, and all but five of these have sold as well.
<img src="/images/stories/silos1.jpg">
The silo apartments, which are all three bedrooms and 130 square metres, have curved exterior walls from their previous life. Melbourne Real Estate agent Steven Marks, who is marketing the properties along with Georgina Mellick and Peter Hooymans from the same agency, says the point of difference was a “key selling point”.
The 130-square-metre silo apartments ranged in price from $825,000 to $1.35 million for the penthouses.
<img src="/images/stories/silos2.jpg">
The warehouse comprises 20 two-bedroom apartments, which range in size from 66 to 80 square metres, and seven one-bedroom units. Prices for the warehouse units range from $525,000 to $680,000.
Marks says the warehouse apartments maintain their heritage façade, and the complex’s history and unique design have appealed to buyers. James Hood &amp; Co built the silos in 1878, and Hood &amp; Co supplied malt to local breweries including the Victoria Brewery.
<img src="/images/stories/silos3.jpg">
The silo apartments are all fitted with state-of-the-art kitchen gadgetry from Italian homewares designer Bontempi, and bathrooms come with Rogerseller fittings and fixtures.
Marks says the buyers have been well-heeled Melburnian owner-occupiers, with an average sale price for the silo apartments of $1 million.
<img src="/images/stories/silos4.jpg">
“They appeal to the more sophisticated buyer,” Marks says. “They have hardwood floors, really nice fit-outs – that was well received on the marketplace.”
Developer Blue Earth Group is undertaking the $35 million project, which is expected to be finished in October 2012.
</body></html>

Collingwood malt silo development hops to it

<html><body>
Loan-to-value ratios are continuing to increase but mortgage arrears aren’t becoming a problem yet, the Reserve Bank of Australia says in its latest Financial Stability Review report.
But mortgage experts say while loan-to-valuation ratios are continuing to increase and banks are becoming more lenient with regard to lending practices, arrears aren’t becoming a problem and consumers are well placed to handle debt.
The RBA report noted that although the share of new loans with loan-to-valuation ratios of above 90% has fallen “significantly” over the past few years, “it has edged up over the past year as competition in the mortgage market has intensified”.
While banks dropped their LVRs during the financial crisis, they are starting to creep up again. ANZ has LVRs at 90% for new borrowers, and 95% for existing borrowers, while customers at NAB, Commonwealth and Westpac are also able to access a 95% rate.
However, the RBA also found that while loans made before 2009 are causing the recent uptick in arrears, the current state of mortgages is sustainable.
“Despite the increase over the first half of 2011, the overall mortgage arrears rate in Australia is still low by international standards, and the bulk of housing loans in arrears are well collateralised,” the RBA says.
“Moreover … there are a number of reasons why mortgage arrears are unlikely to rise as much as they have in some other countries. Not least is the more favourable macroeconomic environment in Australia.”
Fitch structured finance associate director James Zanesi says it is true that higher LVRs are associated with higher arrears and defaults, but overall he agrees with the RBA.
“I would say the main driver in terms of likelihood of default is the LVR. It is logical to say that if you have an LVR of 70%, and an LVR of 90%, the 90% mortgage holder is more likely to default, which is proven by historical data.”
However, Zanesi says it is too difficult to make sweeping statements regarding LVRs, saying instead the mortgage market performs differently based on location and differences between metropolitan areas need to be taken into account.
“If one of a few lenders increase LVRs, they don’t all jump the same way. It’s also not a short-term impact, so you wouldn’t see results of raising LVRs for quite some time,” Zanesi says.
“Arrears rose in the first quarter, but there are not as dramatic as in other jurisdictions such as the United States. Relatively, our arrears and defaults rate is fine.”
This article originally appeared on <a target="_blank" title="SmartCompany" href="https://www.smartcompany.com.au/property/20110926-property-loan-to-value-ratios-rising-but-economy-well-placed-to-handle-debt-rba-report-finds">SmartCompany</a>.
</body></html>

Property loan-to-valuation ratio rising but economy well place to handle debt: RBA

<html><body>
8/174 Esplanade East, Port Melbourne, VIC, 3207
<img style="border-style: initial; border-color: initial;" src="/images/stories/esplanadeeast.jpg"> 
This one-bedroom apartment with a car space in Port Melbourne is one block away from the bay and within walking distance of Port Melbourne's shops and attractions. It is currently owner-occupied but could prove appealing for tenants. <a target="_blank" title="Hocking Stuar" href="https://www.hockingstuart.com.au/">Hocking Stuart</a> agent Justin Holod estimates that the property would rent for $400 per week, and it has price hopes of $390,000 plus. If it sells for $390,000 and is rented at $400 per week, that would be a gross rental yield of 5.3%, far higher than the indicative gross rental yield for Port Melbourne units of 4.3%, 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. The property will go to auction on Saturday, September 24 at 11.30am.
For more about indicative gross rental yields and prices in Port Melbourne, see the RP Data suburb page.
For other investment prospects going to auction this weekend, see pages 2 and 3.
 
<hr class="system-pagebreak">
 
 
17/93-103 Euston Road, Alexandria, NSW, 2015
<img style="border-style: initial; border-color: initial;" src="/images/stories/euston.jpg">
This dual-level townhouse-style apartment could appeal to tenants, as it is within walking distance of St Peters and Erskineville train stations. The two-bedroom, two-bathroom unit comes with a car parking space, and it is close to King Street and Erskineville village. <a target="_blank" title="Sydney Boutique Property" href="https://www.sydneyboutique.com.au/pol/property/search.asp?f_PropertyID=1765181&amp;f_AgentID=4331&amp;xsl=4331&amp;f_st=1">Sydney Boutique Property</a> agent Tom Scarpignato has completed a rental analysis of the property and estimates it would secure about $600 per week in rent. The property sold at auction on Saturday for $625,000. A $600-per-week rent would secure an investor a gross rental yield of 5%. The indicative gross rental yield for units in Alexandria is 6%, 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.
For more about indicative gross rental yields and prices in Alexandria, see the <a target="_blank" title="Alexandria" href="/news">RP Data suburb page</a>.
 
<hr class="system-pagebreak">
 
 
14/239 Canterbury Road, St Kilda, VIC, 3182
<img style="border-style: initial; border-color: initial;" src="/images/stories/canterburyroad.jpg"> 
This studio apartment in fashionable St Kilda West comes with its own car park and is seconds away from a tram stop serving two lines. The property is currently tenanted, and the tenants are keen to stay. Similar properties in the area rent for about $290 per week. <a href="https://www.hockingstuart.com.au/" title="Hocking Stuart" target="_blank">Hocking Stuart</a> agent Simon Graf is marketing the property with price hopes of $240,000 plus. If it sells for $240,000 and is rented for $290 per week, that would secure an investor a gross rental yield of 6.3%, well above the indicative gross rental yield for St Kilda West units of 3.8%. 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. The property will go to auction on Saturday, September 24 at 11am.
For more about indicative gross rental yields and prices in St Kilda West, see the RP Data suburb page.
</body></html>

Friday Form Guide: Yields of up to 5.3% in Port Melbourne

<html><body>
As we look back on 2011, Property Observer is republishing some of our most noteworthy stories of the year.
 
The Block stars Josh Densten and Jenna Whitehead are turning their flair for interior design into a fulltime business with the launch of decorating/renovation business Bicker Design.
Josh and Jenna, <a href="https://www.propertyobserver.com.au/victoria/take-two-auction-frenzy-as-only-one-offering-left-on-the-block/2011082351266" target="_blank">whose double-fronted Victorian cottage sold for $1 million</a> through Ruth Roberts of Woodards a few days after The Block auction, have been swamped with enquiries from Australians who want their advice and expertise on furnishings, colour, design and sometimes complete renovation.
“It’s been really overwhelming because we’re trying to take on a little bit too much. It’s been really busy,” says Jenna.
“Josh was going to go back to work and I was going to manage the business, but it’s been busy enough that we don’t have to go back to work.”
Jenna says the response from home owners keen to ask for their expertise has taken the couple by surprise, but they did not have the luxury of planning if they wanted to capitalise on their newfound celebrity.
“We started our new business about a couple of months ago and we just thought we’d strike while the iron was hot,” she says.
“It’s been a lot harder, because people that start businesses take a bit of time and plan and all the rest, but we jumped right in.”
The couple are providing advice for four properties at the moment, as well as renovating their own Melbourne house. Some of their clients ask for emailed consultation on colour, furnishings and decoration, while others need in-person consultation and advice on structural renovation. The couple's website is <a href="https://bickerdesignco.com.au/">https://bickerdesignco.com.au/</a>
Jenna mentions a three-bedroom Carlton apartment that the couple are styling from scratch.
“It’s a pretty big job to style the whole house,” she says. “It’s new, so they had no furniture whatsoever. We had to source everything, every little nook and cranny. It’s been fantastic. It’s been kind of like The Block again because we’re trying to get it done for them really, really quickly.”
“There’s a lot of lead time with furniture that we didn’t have on The Block – on the show you just dropped the name The Block and you could get everything right away but in the real world there is a lot of wait time!” she laughs.
Jenna says their business name was inspired by their on- (and off-) screen persona.
“We thought Bicker Design Co because we bickered throughout the show and that’s what people knew of us,” she says.
She says the show has been invaluable in launching the next stage of their careers. She is enrolled in an interior design course at RMIT next year, and Josh may return to construction if things quiet down at Bicker Design. But that does not seem likely to happen anytime soon.
“We showed all of Australia what we do and if they get in contact with it they already like it.”
For expert commentary and analysis on lessons to be learnt from property reality TV, <a href="https://register.propertyobserver.com.au/lights-camera-auction/" target="_blank">download our e-book Lights, Camera, Auction!</a>
</body></html>

Block stars Josh and Jenna take reno from small screen to real world

<html><body>
{yoogallery src=[images/stories/september23flora]}
Retirees and empty-nesters with a flair for food have been drawn to a new boutique development in the well-heeled bayside Melbourne suburb of Brighton.
The Flora development, at 15 Well Street, Brighton, has sold five of 10 apartments in the year it has been on the market, and one more is under contract. Jonathan Hallinan, owner of Bayside Project Management developers, says all of the interest has come from people downsizing.
“All the buyers are downsizers, people who are moving out of family homes in the bayside area and are wanting a low-maintenance, very high-quality standard of living,” Hallinan says.
One of the main components of that high-quality standard of living is the kitchen fit-out in each of 10 units. Celebrity chef Guy Grossi, whose much-celebrated three-hat Grossi Florentino, two-hat Mirka at Tolarno and Grossi Trattoria draw foodies nightly, designed every aspect of the kitchens in the boutique block.
“I approached him he has been engaged to design the kitchens down to the very last detail, working with my architect,” Hallinan says. “He worked very specifically and chose all of the appliances.”
Hallinan says the Grossi-designed kitchens were a “huge selling point” for Flora buyers.
All of the apartments in the block have two bedrooms, and most also have a study. They range in size from 150 square metres to 180 square metres, and prices range from $1.7 million up to $2.1 million.
Design firm Hecker Phelan &amp; Guthrie designed the units, which have large windows to capture the light and either terraces or courtyards. The gardens have a Mediterranean feel, with lavender, olive trees and figs.
Construction finished last year.
Hallinan has recently purchased another development site in Brighton for $5.3 million, according to the Australian Financial Review. Hallinan intends to build another luxury block with Guy Grossi-designed kitchens on the 1,500-square-metre block.
</body></html>

Foodies downsizing on space but not quality bloom in Brighton development

<html><body>
{yoogallery src=[images/stories/september22stone]}
Sharon Stone, best known for her role as man-eater Catherine Tramell in Basic Instinct, has listed her Beverly Hills mansion for less than what she paid for it in 2006. She purchased the seven-bedroom, eight-bathroom Mediterranean compound for about US$11 million and now is looking for US$8,995,000 for it.
Stone never moved into the property, according to reports, and has been trying to sell it off and on since 2009. The two-hectare property includes parking for 14 cars, a tennis court, pathways that wind their way through lush foilage and across bridges, a library and separate guest quarters. Joseph Babajian of <a href="https://www.rodeore.com/claw_featured.asp" title="Rodeo Realty" target="_blank">Rodeo Realty</a> is marketing the property. The property is a half-hour walk from Sunset Boulevard. 
With the state of the real estate market in the US, Stone will be keeping her fingers - and legs - crossed for a buyer.
</body></html>

Sharon Stone shows little basic property instinct

<html><body>
SQM Research has released a slightly different kind of top 10 discount list this week, reviewing properties that have been on the market for the longest time. The list includes properties that have been withdrawn and re-listed. With a few exceptions these are not the most discounted properties, as vendors hold out hope that they can achieve close to their price hopes, even after years on the market. 
"Properties from Tasmania and New South Wales Central Coast have dominated the list. However, similarly to the last time SQM Research examined homes that have spent a great deal of time on the market, our number one property is still 188 Liverpool Road in Goolwa, South Australia and interestingly enough, totalling only 16% in discounts," SQM director Louis Christopher says. 
"Hanging around on the property market for approximately 1,236 days and counting - this particular case all goes to show that even waterfront properties aren't all that that hot if their asking prices aren't either. 
"In other words, this flies against the notion that good properties will sell well in any market. They won't, especially if they have been mispriced."
<h2 style="font-size: 18px; line-height: 21px;">1</h2>
<a target="_blank" title="188 Liverpool Road" href="https://www.realestate.com.au/property-house-sa-goolwa+north-104620957">188 Liverpool Road, Goolwa, SA, 5214</a>
On the market since: April 24,2008
Initial asking price: $950,000
Current asking price: $800,000
Reduction: 16%
Days on market: 1,236
Last sold for: $408,000
Date of last sale: May 12, 2007
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a target="_blank" title="5090 Tasman Highway" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007685342">5090 Tasman Highway, Buckland, Tasmania, 7190</a>
On the market since: May 18, 2008
Initial asking price: $250,000
Current asking price: $195,000
Reduction: 22%
Days on market: 1,213
Last sold for: $68,500
Date of last sale: May 30, 2003
 
3
<a target="_self" title="19 Wellington Street" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007854879">19 Wellington Street, Oatlands, Tasmania, 7120</a>
On the market since: May 22, 2008
Initial asking price: $260,000
Current asking price: $205,000
Reduction: 21%
Days on market: 1,208
Last sold for: $145,000
Date of last sale: November 22, 2003
 
 4
<a target="_blank" title="1403 Magenta Drive" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007162731">1403 Magenta Drive, Magenta, NSW, 2261</a>
On the market since: May 22, 2008
Initial asking price: $600,000
Current asking price: $535,000
Reduction: 11%
Days on market: 1,206
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a target="_blank" title="290 Viveash Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295">290 Viveash Road, Swan View, WA, 6056</a>
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.5 million
Reduction: 34%
Days on market: 1,194
 
 
<h2 style="font-size: 18px; line-height: 21px;">6</h2>
<a target="_blank" title="1302 Birkdale Place" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007217761">1302 Birkdale Place, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $500,000
Reduction: 26%
Days on market: 1,180
 
<h2 style="font-size: 18px; line-height: 21px;">7</h2>
<a target="_blank" title="6 Talbingo Court" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007982701">6 Talbingo Court, Collingwood Park, Queensland, 4301</a>
On the market since: October 27, 2008
Initial asking price: $349,000
Current asking price: $308,000
Reduction: 12%
Days on market: 1,049
Last sold for: $333,000
Date of last sale: December 22, 2007
 
<h2 style="font-size: 18px; line-height: 21px;">8</h2>
<a target="_blank" title="19 Cathcart Street" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007517262">19 Cathcart Street, Swansea, Tasmania, 7190</a>
On the market since: November 29, 2008
Initial asking price: $350,000
Current asking price: $289,000
Reduction: 17%
Days on market: 1,018
 
<h2 style="font-size: 18px; line-height: 21px;">9</h2>
<a target="_blank" title="90 Franklin Parade" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008048160">90 Franklin Parade,  Encounter Bay, SA, 5211</a>
On the market since: December 1, 2008
Initial asking price: $1.55 million
Current asking price: $1.39 million
Reduction: 10%
Days on market: 1,015
Last sold for: $675,000
Date of last sale: August 23, 2005
 
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a target="_blank" title="64 Cape Three Points Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008074820">64 Cape Three Points Road, Avoca Beach, NSW, 2251</a>
On the market since: December 2, 2008
Initial asking price: $2.1 million
Current asking price: $1.55 million
Reduction: 26%
Days on market: 1,015
Last sold for: $200,000
Date of last sale: December 2, 1999
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php">Top 100 Biggest Bargains in Australia </a>for sale.
</body></html>

Properties lounge on market for years if vendors don't price realistically: SQM

<html><body>
{yoogallery src=[images/stories/september21reynolds]}
Green Lantern star Ryan Reynolds has listed his two-bedroom house in Los Angeles with price hopes of US$1,599,000. The 166-square-metre ranch-style house above the Sunset Strip has a new roof, hardwood floors and canyon views.
The Canadian actor's home is modest by Hollywood standards, and he paid US$1,715,000 for it in 2007. He listed it for US$1.9 million for 2009 but withdrew it from the market when it failed to find a buyer. In July 2011 he was willing to take a loss on the property and put it back on the market with price hopes of US$1.69 million and has subsequently discounted it to its current asking price. 
Annie Challis from <a href="https://www.kw.com/homes-for-sale/90068/CA/Los-Angeles-City-/2416-CARMAN-CREST-Drive/3yd-CLAWCA-11542999" target="_blank">Keller Williams Realty</a> is marketing the property, which she describes as a "totally private hideaway". 
Reynolds has made his mark on the worlds of rom-coms and superhero action flicks, from The Proposal to his recent turns in X-Men: Origins and Green Lantern. 
</body></html>

Ryan Reynolds re-lists LA house at a loss

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>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Cassidy Knowlton

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News