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In our Purchase or Pass segment this week Chris Gray is joined by Arthur Charlaftis, the general manager of Realestate.com.au, to check out another potential investment property in the inner city.
<img alt="fletcherst" height="353" width="470" src="/images/stories/2013/01/fletcherst.jpg">
It’s a two-bedroom, one-bathroom unit with a garage in a security block of 18 units. It is <a href="/news">7.3 kilometres from the CBD</a> and less than one kilometre from the heart of two neighbouring suburbs. It’s recently been transformed by a designer renovation, so there is nothing to do. The unit is at the rear of the unit block and all rooms open up to a quiet and leafy balcony. The block has an outdoor pool and strata fees are approximately $1,000 per quarter.
Chris Gray: So what are your initial thoughts there, Arthur?
Arthur Charlaftis: So Chris I was going to ask you, it’s a large block, and I know you do a lot of work on these sort of developments, so what’s your view on large blocks?
Chris: I’ve never really been a fan of large blocks, the main thing is it’s just really hard to get decisions made and generally there’s the lifts, pools, gyms and all that sort of thing. On a positive note, there’s always a grey area. This is only 18 units, so it’s not that much more than the normal 12 I would usually go for. It’s not a high rise, it’s a walk up, so you generally don’t get all those cars. Something like that I’m not overly fussed about, I could get over that. 
Arthur: Do you think that, in terms of the balcony and the multiple access, or different entries, do you think that helps?
Chris: Oh, that’s absolutely perfect. So many people these days want to live in a house but can’t afford it. This is $740,000 and you only get a two-bedroom unit, so if you get some outdoor living, it’s perfect.
Arthur: What about the strata fees? I noted they’re $1,000 per quarter. That seems high, what would you expect to pay?
Chris: I guess the pools another thing that’s in there. This pool I don’t mind too much, it’s an outdoor pool, it probably wouldn’t be heated, it would be low maintenance versus one with a jacuzzine and life guards and all that sort of jazz. The strata fees are expensive, normally we would be paying $600 to $700. Again, it’s not the worst thing in the world, but it’s definitely up there. You really have to look at what your money is paying for there.
Arthur: I think the other thing this one is already renovated, so again, if you have an investor who wants to pick something up and put straight into rental, it’s got a pretty good return. If it’s someone who wants to add some additional value, it’s going to be pretty hard to do. 
Chris: There’s always pros and cons so it always depends on that individual person. What are your thoughts, purchase or pass on this one?
Arthur: I would probably pass. It has a couple of things that would probably sway me against it.
Chris: My thoughts are pretty similar. I think this is a very appealing unit and easy for people to fall in love with because it’s already been renovated. There are a number of potential negatives, with it big a big block, having a pool, no chance of adding value and high strata fees. Individually I can get over all of those issues, but add it together, all in one unit, I think it’s too many downsides. While I have looked at buying in this block, on this occasion I’m going to say pass.
Property Observer notes the property sold for $740,100 in December and has an asking rent of $850 a week. This offers a rental yield of 6%.
It last sold in 2009 for $595,000.
 Chris Gray is a buyers' agent at <a href="https://www.yourempire.com.au/">Empire</a>. He is host of Your Property Empire on Fridays on the Sky News Business Channel.
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Pass or Purchase: A two-bedroom Bondi unit

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<img height="353" width="470" src="/images/stories/2012/12/alexanderst.jpg" alt="alexanderst">
In our Purchase or Pass segment this week I am joined by Stuart Waugh, the executive director at Bell Partners, to asses another potential property investment. As always the location is a given, it’s the finer details about the property that we can debate.
It’s a three-bedroom unit with a lock up garage, 8.6-kilometres from the CBD and less than 500-metres to the action. The unit is in a block of 26 units set out in a horseshoe shape with three entrances and two different garage areas. The unit is east and west facing with views from the balcony across the district and the ocean. The unit recently sold for $855,000 and rents for $840.
Chris Gray: The first thing I want to concentrate on is basically the size of the block. I always prefer to get in small blocks of 12 units, this is 26, what difference does this generally make being in a big block rather than a small block? 
 
Stuart Waugh: Big blocks generally mean strata levies are quite high and there could be things wrong with the building. There could be a couple of lifts in there, so you have to maintain all these things. You and I were just talking before coming on the show about maintaining blocks and how expensive they can be. Just be careful with big blocks like these, you could get strata levies that may be unaffordable.
Chris Gray: Also the thing I find with bigger blocks is it’s hard to get decisions made. Trying to get 12 people on the same page at the same time is a nightmare, trying to get 26 people is almost impossible. Things then don’t happen and a $100,000 problem turns into a million dollar problem.
Stuart Waugh: Exactly right, you see blocks deteriorate over time because they can’t get a decision made so therefore you have things growing all over the brickwork. You get concrete cancer and you have landscaping that’s not maintained. Those sorts of things can be a big deterrent to a building. You’re right, if you have big meetings and big decisions to make, it doesn’t happen.
Chris Gray: The first property I bought in Coogee in the late nineties, we have to raise $100,000 to get the roof replaced, which is $10,000 each. But we’re trying to say pre-worn, we need to fix balconies, we need to render, we need to spend $1 million in the next few years… it’s never a good time is it?
Stuart Waugh: No, especially in apartments because people who buy apartments can’t afford $100,00. They’re going to be first homebuyers, young families, those sort of people don’t have $100,000 lying around. It’s not going to happen.
Chris Gray: And then the 65 year olds who have paid off their mortgages might have the equity but they do not want to get a mortgage at 65.
Stuart Waugh: That’s right, they have plenty of equity and assets like you said but not the cash flow to service a debt if they do get debt.
Chris Gray: One of the things I did like about this particular block is there’s two separate entrances on different streets. So suddenly it’s not like your Sydney parking 26 cars, so it’s kind of split in half. Also in the horse shoe shape there’s three different entrances and it’s only three-stories so it’s not the same as being in a 26-storey building with massive a car park. You have to try to look at the building, because they’re not all the same are they?
Stuart Waugh: Exactly right, if you had have seen this in the newspaper with 26 units you probably would have assumed it’s a ten storey building but that’s not the case with this one, there is actually a couple of entrances.
Chris Gray: And obviously that’s why the agents don’t put in the effort as well.
The other thing I was going to concentrate on was a three-bedroom at $855,000, it’s obviously slightly more expensive a three-bedder over two, an issue for you?
Stuart Waugh: Not in this case, the yield was quite good. I thought $855,000 was quite reasonable and quite a well maintained block. The yield was quite attractive in this particular case.
Chris Gray: Purchase or pass for you?
Stuart Waugh: I say purchase.
Chris Gray: Overall, I think this is a good unit and you can overcome being in a bigger block due to those separate entrances we just talked about and being low rise, which still makes it feel reasonably boutique. Sometimes a three-bedder can be a good option for affordable renting between three people, and you end up with a higher rental yield than maybe going for a two-bedder. If it were me, I’d go for a purchase to slightly diversify my current portfolio.
Chris Gray is a buyer’s agent at <a rel="nofollow" href="https://www.yourempire.com.au/" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Empire</a>. He is host of Your Property Empire on Fridays on the Sky News Business Channel.
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Purchase or Pass? A three-bedroom Coogee apartment

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<img width="470" src="/images/stories/2012/12/benboyd.jpg">
In our Purchase or Pass segment this week Chris Gray is joined by Warren McCarthy, the managing director at McCarthy Business Consultants, to check out another potential investment for someone on a budget that is trying to find something affordable close to the city but not in it.
It’s a one-bedroom unit in a block of 15 units, 4.7 kilometres from the CBD and less than one kilometre from the ferry. The unit is 60 square metres and has sunlight coming in from both sides. It has fantastic views of the city and harbour bridge from the lounge and balcony area. It gets $500 a week rent, which equals a 5.4% return.
Chris Gray: I guess to start with, if you have a budget of $500,000, you don’t get much for your money these days, do you?
Warren McCarthy: You certainly don’t, and that potential return you’re referencing of 5.4% is pretty good. The size of the dwelling of 60 square metres is good for a couple, and there’s certainly room to move instead of being too pokey. It sounds like it’s in a pretty good space there, Chris, with the views, and capturing the dear old Harbour Bridge. I think not a bad entry point for that type of location.
Chris Gray: Most of the time we’re not talking about location because we’re always trying to get into the intimate details but obviously we can’t pretend it’s Melbourne or Perth because it’s pretty much Sydney all over, isn’t it?
Warren McCarthy: Sounds like it downtown Sydney Harbour views, and that’s quite rare and good for a long-term capital growth strategy, and I think real estate should always be considered in that regard, but good entry level.
Chris Gray: One thing I’m always after is sticking to a block size of 12 units or so, but it certainly fits 15, do you think that makes much difference?
Warren McCarthy: Not really. I think it’s certainly within control and understanding of your levies of what’s going to go on in that building, rather it be 70 or some sort of huge number like that. It’s well within a reasonable number.
Chris Gray: Something that costs no money but can add a lot of value is light. When you’ve got light coming in from both sides of the building it makes a hell of a lot of difference. Obviously you used to be in real estate sales and on the financing side, how much difference does it make to try and sell an apartment that’s nice and light?
Warren McCarthy: Without a doubt, the right aspect is what sells property and if the sun’s shining in that just adds that extra element to the attractiveness to the buyer and so it is a good point to have as part of your ownership of that particular investment.
Chris Gray: A lot of the time in a perfect world, most of us would probably go for a two bedroom if we had the money, but obviously there’s limited budgets on this question. But having something unique like the Harbour Bridge can that make the be all and end all difference, the difference between selling a unit and not selling it?
Warren McCarthy: That can certainly help put the sale right across the line. If it’s always going to have those views and hopefully they’re never obstructed in the future. If it does have those views, it’s always going to be that lovely tick in the right box for that sale to be made and at a premium price because of that rare view of the Sydney Harbour.
Chris Gray: Especially if you have a foreigner just to tell his mum back in the UK or wherever he comes from, I can see the Harbour view.
Warren McCarthy: And for $500,000 at this level, good price.
Chris Gray: So purchase or pass for you?
Warren McCarthy: Definitely purchase for me in this particular climate.
Chris Gray: It is still possible to still buy near the city, in a high capital growth location and get value for money and a high rent return. There’s always going to be a limited market for those who can pay $500 a week for a one-bedroom unit but because it’s large it can still fit two people in very comfortably. So if your budget is restricted, I say I would be happy to purchase this one, so I give it a purchase as well.
Chris Gray is a buyer’s agent at <a rel="nofollow" href="https://www.yourempire.com.au/" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Empire</a>. He is host of Your Property Empire on Fridays on the Sky News Business Channel.
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Purchase or Pass? A Neutral Bay investment for someone on a budget

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In our Purchase or Pass segment this week, Chris Gray is joined by Rosemary Tan to look at a development in Kuala Lumpur, Malaysia, and to see what your money gets you in comparison to Australia.
<img src="/images/stories/2012/12/mesra1.jpg">
Have you ever thought about investing overseas – what are the pros and cons of putting your money in a foreign country?
How does Malaysia stand up as a potential investment opportunity? What kinds of properties are available there and how much do they cost? 
This property is 10 minutes from central Kuala Lumpur in an area called Dutamas. A unique community of 58 semi-detached homes in a gated environment with a courtyard garden, playground, a community bath-house, an indoor pool, gym, hall and a recently added outdoor pool.
The homes at Mesra Terrace are three to four storeys high, with sizes ranging from 333 square metres to 400 square metres with three to five bedrooms. They each have their own garage or car porch.
The price is around $725,000 and they would rent for around $600 a week.
Chris Gay: Tell me a bit about the development.
Rosemary Tan: I designed the homes for a three-generation family. What you are seeing here is the interior of the living room and the potential family room. This is a typical semi-detached home. It’s actually two units attached to one another. What you see is a courtyard, and right by the fountain is a huge ring water-harvesting system that we put in and you notice that it’s traffic-free. Why is it child friendly? Basically they can play freely on the courtyard without worrying about traffic.
Chris Gray: And so would this be a classic investment for a home owner or is it a more investment type of thing?
Rosemary Tan: It’s mainly, right now, for a home owner. Although originally when it was first built, a lot of investors came in. We have a very friendly foreign investor policy and in terms of investment in Malaysia, what is basically sought after is land property and the alternative to that is high-rise condominiums.
Chris Gray: I’ve just got back from Hong Kong for a week and is that similar kind of thing? You get a massive high-rise and a lot of foreign investors are getting into those things.
Rosemary Tan: The scarcity of the land around Kula Lumpur in the major cities, a lot of the developments are now going up high.
Chris Gray? So what would you say are some of the pros and cons with these types of properties?
Rosemary Tan: If you invest in a gated environment or condominium, security is a given. So that’s what’s sought after, security, as well as a managed property, and right now all the high-rise style feel like six-star hotels, and that’s what you’re getting. You get a variety of sizes and a variety of styles. The options right now, the most popular neighbourhood is called Mont Kiera, and why is it popular? We have three international schools in that area. Everything is high rise there except for some landed property, and it’s supported by commercial hubs. You can work, play and live there because you can have your office there and you can shop there, and it's all walking distance, but everybody drives in Kuala Lumpur. So that’s the most popular neighbour right now.
Chris Gray: Certainly, the buildings you have there look absolutely stunning. Do people buy these as holiday homes as well?
Rosemary Tan: Our property right now is very near the French school, so half of them are investors renting out to this market. In ringgit terms it's not $1,000 per month. 
Chris Gray: It’s about $600 AUD a week.
Chris Gray is a buyers' agent at <a target="_blank" rel="nofollow" href="https://www.yourempire.com.au/">Empire</a>. He is host of Your Property Empire on Fridays on the Sky News Business Channel.
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Purchase or Pass? Semi-detached homes in Kuala Lumpur

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In our Purchase of Pass segment this week, Chris Gray is joined by John Edwards, CEO of Residex, to look at multiple properties on a single title.
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Is buying a single property with multiple streams of income a good investment strategy, or are there some downsides that you might not be aware of?
This <a target="_blank" href="/news">Bondi Beach </a>property consists of a three-bedroom, two-bedroom and a one-bedroom unit in a converted house style property with double frontage. It’s 6.9 kilometres from the city and one kilometre from the action. The property has recently been renovated and receives $2,200 per week rent and it has an asking price of $1.5 million plus.
Chris Gray: John, what’s the main attraction of going for a property with multiple streams of income on the one title?
John Edwards: What this is all about is the yield that's available, and the yield is very attractive. I had a look at this particular property on the internet, and I was a little bit, frankly, disturbed by it. There looked to me to be some inherent problems with it. I also had a question whether it was, in fact, approved by council, and that's something that everybody ought to consider very carefully. Then I looked at the structure of it all and can see some cracking above some windows and some other things, and so I was a little concerned about the property. Would the rate of return really be there once I fixed it up, and would I be really able to rent it out as it currently was and get the income stream? If I couldn't, I wouldn't think it is worth $1.5 million. There are a couple of lessons in that: you need to check your council, and make sure the building is really sound. Remember one other thing: unless you can strata this, you're not going to get the capital growth out of it that you really ought to get.
Chris Gray: Because ultimately you can't sell it.
John Edwards: Absolutely. And there are rules with regard to strata-ing that you  have to remember. I didn't think this particular property was strata-able at the end of the day. I was a bit concerned about its structure. I loved its return, however, I passed.
Chris Gray: Typically with niche properties, is it something that might get capital growth, or is it a function of that particular property?
John Edwards: Capital growth is a function of demand, and by definition, for a niche property the number of people who are going to look at it or bid for it is smaller. You are unlikely to get the same level  of capital growth out of it. These properties are return properties. Make sure you get a sufficient return to account for the fact that your capital growth is going to be less.
Chris Gray: Certainly the other downside you've got to think of is quite often the banks will treat these as commercial, so they might only lend 70% and there might be higher interest rates as well. This is not an investment for the everyday investor and will only suit a certain type of person that has extra cash for deposit and who wants a higher yield as well as some growth. It’s a fantastic yield in an ok area of a great suburb, so for some diversification I would purchase, subject to checking out some comparable sales to confirm price.
Chris Gray is a buyer’s agent at <a href="https://www.yourempire.com.au/">Empire</a>. He is host of Your Property Empire on Fridays on the Sky News Business Channel.
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Purchase or Pass? A one-title triplex Bondi Beach offering

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In our Purchase or Pass segment this week Chris Gray is joined by Stuart Waugh, executive director of Bell Partners, to check out a potential investment that is right in the heart of the action and see whether it meets our strict criteria. It’s a <a href="https://www.domain.com.au/Property/For-Sale/Apartment-Unit-Flat/NSW/Bondi-Beach/?adid=2009980339" target="_blank">two-bedroom unit</a> in a small block of four and within metres of all the local entertainment, shopping and leisure facilities. It’s only 7.6 kilometres to the centre of the CBD for work and transport is on your doorstep. It has plenty of attractive Art Deco features and has only one common wall. It features a private entry and spacious semi-like layout.
In terms of location it seems to tick all the boxes. I thought I would highlight some of the comments in the details in their advertisement as some people, especially those interstate may not realise the significance.
It is 7.6kms from the CBD, has one bathroom, has a lock-up garage, costs $900,000 and rents at $670 per week.
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Chris Gray: Quite often around Sydney we talk about northeast facing, what does that really mean?
Stuart Waugh: It means the sun coming up in the morning. It means some action in the morning and some nice energy. It means the property is always desirable by future purchasers.
Chris Gray: The reason I bought it up is because I was up in Queensland 10 years ago and I went to see a property and I said to the agent, ‘What direction does it face’ and he looked at me strangely and asked why I cared. I said don’t you want the sun? He said no no no we want to get away from the sun, we want the shade. So it does change state to state.
Stuart Waugh: It certainly does. In Sydney a nice sun aspect is actually quite nice to have. I can imagine in some of those warmer states the sun can be quite deterring.
Chris Gray: One of the comments on the ad was “Art Deco block of only four”, what kind of difference does that make to people?
Stuart Waugh: Art Deco usually needs a bit of work to be honest and when it needs work people have to have time to put the work in and look at options as far as renovating it. Some people are busy and can’t afford the time to put into making sure they do a good job. Art deco can be restrictive. But not only that usually the body corporate will be restrictive with an Art Deco property.
Chris Gray: The positive for some people is the style of it because everything gets a bit bland these days so some period features can be good.
And I guess having only four in the block at least you’re not competing with 12 other people. If you need some stuff done at least there’s only three other owners.
Stuart Waugh: But the negative of that is you’re raising money from four people to pay for it. There are negatives and positives, but the high ceilings are a good positive, but when I look at blocks of property I look at how many units are there and who’s going to raise the money to pay for these kinds of things.
Chris Gray: Another thing it mentions is one common wall. Obviously that’s going to quieter especially in some of the party suburbs but also it says private entry and spacious layout. That’s got to be good for some people who can’t afford to buy a house on these suburbs and so you’re maybe you’re still in the unit but at least it feels like a semi.
Stuart Waugh: And especially for young families that are quite often not rolling in cash they can get into an apartment like this and feel like they’re living in a house and they can grow their family.
Chris Gray: The one thing that it doesn’t say in the advert, and I’m not surprised, is that the road is basically 10 metres from the bedrooms. You’re at ground level, you’re in the heart of the pubs and the rest of it. The amount of noise you’re going to get from that, that’s got to be a nightmare, doesn’t it?
Stuart Waugh: Absolutely. Noise is a big deterrent for me. I don’t live with noisy roads that often and I can’t see myself going for that kind thing.
Chris Gray: It’s got to be pretty tough. So purchase or pass for you?
Stuart Waugh: Mine’s a pass.
Chris Gray: OI. Noise is a major problem in the inner cities and so for tenants who do want to be closer to the action some do want to sleep at night, those with jobs at least. Even though the property does tick all the other boxes this is one negative that I can’t get over especially at $900,000 for a two-bedroom unit. So for this one I’m going to pass as well.
Chris Gray is a buyers' agent at <a target="_blank" rel="nofollow" href="https://www.yourempire.com.au/">Empire</a>. He is host of Your Property Empire on Fridays on the Sky News Business Channel.
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Purchase or Pass? Two-bedroom unit in Bondi Beach

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In our Purchase or Pass segment this week we take another look at affordable investing around the inner cities with Arthur Charlaftis, general manager of sales and operations at Realestate.com.au. What can you buy with a limited budget that is still likely to give you some growth in the future?
<a target="_blank" href="https://www.rs.realestate.com.au/property-studio-nsw-north+bondi-107290495">This Bondi property</a> is 8.9 kilometres from the city. It’s a small studio unit in a small block of units literally right across the road from Australia’s most iconic beaches. It cost $293k last year and would rent in excess of $300 per week. So over a 5% return. There’s a surf shop and a café underneath you on the street level so you’re not going to go hungry or run out of beach gear. The unit offers no parking or ocean views but you can’t get any closer to the sand. So, Arthur, how would that suit you as a bachelor pad in your earlier days?
<img src="/images/stories/2012/11/bondipurchasepass.jpg">
Arthur Charlaftis: Obviously it’s an unbelievable property. I think it’s well priced and good return so it makes a lot of sense.
Chris Gray: Certainly to buy something for under $300,000. It just seems ridiculous that you can buy in <a target="_blank" href="/news">Bondi Beach</a> and you’re there. Obviously we don’t have sizes, and the pictures show it’s not the most salubrious place, but it’s still a unit.
Arthur: From some of those pictures we know it’s opposite the beach so we know maintenance for that kind of property will always be tough. But across the road from the beach great location and a pretty reasonable price.
Chris: And looking at some of the negatives. Obviously no parking is a bit of a nightmare. If you’re right on the beach it’s even more of a nightmare because there’s no way you’re going ot get a park on a Saturday. But maybe for some of the youngsters don’t need a car.
Arthur: Transportation is pretty good, but I agree. Parking in summer, if you wanted to have a car it would be problematic.
Chris: In terms of noise there would be a few parties going on during the summer. If you like your sleep it’s probably not the place for you.
Arthur: Yeah, you’re got the parties at the night and early beachgoers in the morning, so you could be hit at both ends. But part of being there is participating in that kind of lifestyle.
Chris: These guys are probably the ones causing the chaos. Another thing is obviously we talk about these small apartments, the banks quite often don’t like these. They get more cautious.
Arthur: They do, but obviously the location is pretty good. So it’s a pretty reasonable investment. The other thing is if you took a long-term view it would be interesting whether you could buy the components over time. And obviously if you did that site would be worth a lot of money.
Chris: Exactly. I think there’s only half a dozen units in the block. so effectively a couple of million dollars. They had the Pacific sale down there and I think they had something like 80% or 90% were selling, and it was $1.5 million for a two-bedroom unit at the Swiss Grand. I don’t know if you even got a view for that. There’s plenty of money down there. So purchase or pass?
Arthur: This would be a purchase for me, definitely.
Chris: I think it’s a cracking unit, and if you are into fitness, fresh air and surfing you can’t get much better than that at such an affordable price. No parking would be OK for the youngsters as would the noise, as they would probably be the ones making it. Could also be a great one for a super fund if the banks are happy to lend on it. Probably not for the middle-aged owner-occupier who wants peace and quiet. All in all I think it’s great for the money and would go for a purchase.
Chris Gray is a buyers' agent at <a href="https://www.yourempire.com.au/" rel="nofollow" target="_blank">Empire</a>. He is host of Your Property Empire on Fridays on the Sky News Business Channel.
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Purchase or Pass? Chris Gray and Arthur Charlaftis on a Bondi studio

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In this week’s Purchase or Pass segment we take a look at buying any unit in Queensland, as there’s some debate about what it could cost you in the future. In September this year a bill was introduced into Parliament to amend the Body Corporate and Community Management Act of 1997, and public comment closed today. It's related to how strata fees are allocated in unit blocks and if they could be changed after being originally set up. 
Say if you owned a $500,000 two-bed unit on the ground floor with no aspect and you used the pool or the gym, should you pay the same price to use it as someone with someone with the same sized unit but worth $5 million on the 100th floor?
John Edwards: Yes, I think they should if they were both one-bedroom or the same number of people were living in it. If you’ve got a one-bedroom penthouse and a one-bedroom unit on the ground floor obviously only one or two people can live in both of those and should pay the same amount of money.
Chris Gray: And if you owned the $5,000,000 unit and wanted you windows washed every week to enjoy your ocean view should you pay the same strata fees as the guy on the ground floor who is happy to wash them himself and doesn’t use the lift?
John Edwards: No they shouldn’t. It doesn’t make sense. Effectively the higher premium $5 million property was part of it was to do with the view. We can forget about the view, but what we ought to be focusing on is the real cost of maintaining the top floor unit and the ground floor unit. Obviously it’s very easy to wash your own windows on the ground floor.
Chris Gray: Let’s say the strata fees were set at $5,000 per year for the ground floor unit and $50,000 per year for the top unit when you bought them off the plan. If the top unit managed to overturn the strata fees and get them all done more fairly from his perspective maybe they all then pay $15,000. The top unit owner has his reduced by a third, but the bottom owner has his tripled. It’s suddenly a massive nightmare, isn’t it?
John Edwards: The only people who are really going to get hurt  in this process are the actual owner-occupiers. The rest of us who are investors probably ought not to be investing in an apartment block that has all of these facilities so we shouldn’t be straddled, and I’d make the point that there are dozens and dozens of apartment blocks that are small in places like Brisbane that just don’t have these issues. I don’t think we should be saying don’t get involved in units in Brisbane, I think we should just simply say this is a rational situation that is going to exist. Where we’ve got very extravagant blocks of units with all the amenities that can possibly go there. I think the judge should be very well briefed.
Chris Gray: If you have bought into a strata and there is an issue like this tabled in the annual general meeting minutes – is that likely to put off potential buyers and make it very hard for sellers to onsell their units?
John Edwards: You’re going to have great difficulty in selling that apartment, unfortunately.
Chris Gray: One of the lessons is if you are going to get into this then potentially buy the penthouse because if anything your fees are going to reduce.
John Edwards: But Chris, we're not you.
Chris Gray: So is that purchase or pass?
John Edwards: For me, no, because I wouldn’t have been involved as an investor buying those sorts of units in the first place. 
Chris Gray: For me I’d purchase as normal. The laws are constantly changing, the laws are only being talked about now so we’re not definitely sure about what’s happening. For me I’d purchase as normal and unless anything else comes out I certainly wouldn’t change my mind.
Chris Gray is a buyers' agent at <a href="https://www.yourempire.com.au/" rel="nofollow" target="_blank">Empire</a>. He is host of Your Property Empire on Fridays on the Sky News Business Channel.
He will appear periodically on Property Observer posing and answering investment questions on select propositions.
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Purchase or Pass: Would you buy any unit in Queensland?

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{qtube vid:=73Bej044-Ec&amp;feature=plcp}
Chris Gray, an investment property expert at Empire, appraises recent investment opportunities each Friday on the Your Property Empire television show on the Sky News Business Channel.
"Whenever I buy a property I always get a bank valuation to confirm what it’s worth, and even though they can be conservative I very rarely pay anything over that valuation," he says.
"In this week's Purchase or Pass we analyse a Bronte property that someone paid well over valuation and analyse whether that was a good move."
<img src="/images/stories/2012/10/macpherson.jpg">
 Location: 7.4kms from CBD
Beds: 2
Bath: 1
Parking: 1+1
SQM: 86sqm
Price: $740,000
Rent: $650/wk
It’s an 86-square-metre tw0-bedroom unit, 7.4 kilometres from the city.
The unit is south-facing but is still quite bright and has a balcony overlooking a park and the ocean in the distance.
It has a lock-up garage and there’s a car space in front, which isn’t on title but can be used solely by that unit.
In 2008 the bank valuation came in at $535,000 and it sold at auction for $574,000, or $39,000 over valuation.
We got a recent valuation that came in at $725,000, and it sold for $740,000 or $15,000 over valuation.
This unit ticks all the boxes for an investment.
My point is really to discuss the price you pay for a property.
How educated are buyers and sellers as to what a property is worth?
"Is getting a bank valuation a good guide as to what it’s worth?
The owners who bought in 2008 paid almost $40k over valuation, which some might say wasn’t the best financial decision, but let’s look at the numbers as they still made a profit four years later.
Selling for a profit
 
<table border="0" cellspacing="0" cellpadding="0" width="379"><tbody>
<tr>
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Sold 2012
</td>
<td valign="bottom" width="100" nowrap></td>
<td valign="bottom" width="100" nowrap>
$740,000
</td>
</tr>
<tr>
<td valign="bottom" width="179" nowrap></td>
<td valign="bottom" width="100" nowrap></td>
<td valign="bottom" width="100" nowrap></td>
</tr>
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Bought 2008
</td>
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$574,000
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</tr>
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Stamp duty 5%
</td>
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$28,700
</td>
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</tr>
<tr>
<td valign="bottom" width="179" nowrap>
Holding costs $10k/yr
</td>
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$40,000
</td>
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</tr>
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Selling Costs
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$15,000
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</tr>
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Total Cost
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<td valign="bottom" width="100" nowrap></td>
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$657,700
</td>
</tr>
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Profit
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<td valign="bottom" width="100" nowrap></td>
<td valign="bottom" width="100" nowrap>
$85,300
</td>
</tr>
</tbody></table>
Do good properties quite often get a premium?
In hindsight would you have bought in 2008 and/or 2012?
So is it purchase or pass for you? Tom Panos the auctioneer says yes.
There's some pretty fantastic views and its a renovator's delight so you can add value.
I’m going to recommend purchase.
I think if you’ve got the right property that ticks all the boxes it will always make money over time so even if you have to pay a couple of percent over valuation sometimes it’s worth it.
You just need confidence in your ability to pick the right one and avoid the bad one, so for that reason I’m going to purchase as well.
Chris Gray is a buyers' agent at <a href="https://www.YourEmpire.com.au" target="_blank">Empire</a>. He is host of Your Property Empire on the Sky News Business Channel.
He will appear periodically on Property Observer posing and answering investment questions on select propositions.  
 
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Purchase or Pass? Empire's Chris Gray on a Bronte property

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Can I do the renovations myself?
You may decide you will be the one to complete or oversee the renovation. Doing the renovations yourself means you have complete control over timing, costs and scheduling as well as saving on labour costs along the way. It can be a great way to go if you have plenty of time, knowledge and skill.
However, if you haven’t renovated before there’s a good chance that you might underbudget the true costs and go well over time. Trying to learn on the job can be pretty tough and even though you can temporarily stop the job when you run out of money, it’s very hard to profit from renting or selling a half-finished property. It might even be worth less than what you bought it for.
My tip is to double your expected cost and double the time frame, and then work out if you’re still going to make a profit. Most of the time, it works out more efficient from a time, cost and stress perspective to outsource the renovation to the experts.
I once had a client who wanted me to buy him a property to renovate as a retirement project. When the time came to renovate, my client asked me to outsource big jobs like the kitchen and bathroom, as they’re best done by specialists who would do it in a fraction of the time.
We then agreed that tiled flooring was best left to an expert and built-in wardrobes left to a different specialist. Five minutes later, the only non-specialist job that he had a hope of completing himself was the painting.
What if I don’t want to do it myself?
If you’ve decided to put your renovation into the hands of the experts, finding a good team of tradespeople and other professionals can be the most challenging part of the job. They often have a different mentality and style of working to other relationships you have in your work roles, so it’s important to build a bond.
A great place to find good tradespeople and other professionals is through recommendations. Ask family, friends, real estate agents, mortgage brokers and buyers’ agents for referrals.
Recommendations from property investors who have completed a number of successful projects are especially valuable.
When dealing with any tradesperson, it’s important that you always ask for details of the insurances they hold and names and numbers of previous customers they’ve worked with. Make sure you actually check these referees to see if the work was carried out to their satisfaction. I often go and see projects that are midway through renovation, as well as ones that have been finished.
There’s also nothing to stop you asking for a guarantee: what penalty will they impose on themselves if they do not complete within a certain timeframe?
When you’ve found your team, the more you use them, the better they’ll work together, as you’ll build trust and learn to iron out little issues. If you’re doing a one-off project as an individual, finding a good team and building an instant relationship can be difficult, and in this instance it could pay to use a project manager.
What is the benefit of using a project manager to handle my renovations?
You may want to consider hiring a project manager to oversee your renovation project.
A good project manager can deal with everything from drawing plans, negotiating them through council and managing the renovation, through to ensuring the final finishes are complete. They can also take responsibility for the costings and timings, and hustle your contractors and tradespeople into gear if they appear to be lagging.
Hiring a project manager can prevent the arguments that tend to arise when you have a number of different parties all doing different pieces of the same job, by clarifying each person’s responsibility and when things need to be done.
The project manager can be anyone from a builder, interior designer or architect to a professional property investor/renovator. Ultimately, it needs to be someone who is experienced, trustworthy and has a team of reliable tradespeople.
Won’t a project manager be expensive?
A good project manager will charge 10% to 20% of the overall renovation cost, which is around $5,000 to $15,000 on a $50,000 to $75,000 project.
I’ve heard of many nightmare scenarios from clients who have struggled before coming to Empire, so I believe that hiring a project manager is well worth the investment.
Here are just a couple of the nightmare stories I’ve heard:
• “The builder didn’t turn up on the first day of the job. On the second day he reversed into the side of the building and put a hole into it. The strata managers and other owners weren’t impressed.”
• “I managed separate tradespeople to renovate the kitchen, bathroom, carpets, blinds, doors, painting, electrical and plumbing. There were so many people to manage and so many unforeseen glitches, and I learned one part of a job needed to be completed before another could start, so the project became a major headache. One person would blame another, no-one would take responsibility, and everyone took advantage of my inexperience. And the longer it took the more money it cost in mortgage payments and loss of rent. Never again!”
You might think you can save a fortune by managing the project yourself, but there are risks in managing a renovation alone.
Tradespeople will know if you’re not a renovating expert, and they may use your lack of experience to their advantage – in terms of costs, timelines and attention to detail.
A tiler might see you in your suit, for instance, and know instantly that you’re not used to dealing with tradespeople, and increase his price. And did you know that jobs can beq uoted at different prices in different suburbs?
You may also fall prey to unscrupulous tradespeople trying to secure a job and increase their prices. The tradesperson might tell you they’re ready to start on the bathroom even while they have a number of other jobs on the go. He might try to juggle all the jobs at once, starting a job on your property, leaving his tools and not coming back for four weeks until he’s ready to begin in earnest. Because your tradesperson has started, no one else will take on the job and you’re stuck waiting.
Unless you’re prepared to be on site every day to manage what’s going on, I recommend leaving project management to an expert. Weigh up the cost of your time away from work, the chances of being charged higher prices and the likelihood of the project taking twice as long.
A project manager who does renovations frequently can negotiate with tradespeople better than you, and has better buying power for trades. They should also be good at negotiating on costs, timelines and maintaining the quality of the work on your behalf.
How long should my renovations take?
A pre-planned kitchen and bathroom renovation should take four to six weeks. Many property investors who manage the projects themselves find this impossible because they fall into one of the most common traps: choosing tradespeople based on price alone.
I don’t often use the cheapest tradesperson. I choose those that can do the best job in the shortest amount of time. The cheapest will often do the job in their own time, but the faster the tradesperson, the quicker you will place tenants in the property.
You could pay $1,000 to get some students to paint your property, you could pay $2,000 to get a painter or you could pay $4,000 to get a master painter. There will be a guaranteed difference in the quality of the finish. Which one is right for you to use will depend on the type and quality of the property you’re renovating, your budget, and the potential benefits you’ll receive when a potential renter or buyer falls in love with your property.
What are the types of profits I can generate with a quality renovation?
The results can be seen in cold hard cash. On a typical project we might buy a two-bedroom unit for $600,000, invest around $75,000 into a four to six week renovation, and then get a valuation of around $700,000 to $720,000, generating a healthy $25,000 to $50,000 profit.
On a block of units we bought for $1.9 million, we renovated for $600,000 and four months later, the bank refinanced at $3.5 million – giving us a whopping $1 million profit in under four months.
On another job, we applied to council to add two penthouses to a block of units and the architect has managed to squeeze a second block of units in the back garden, and that’s in a prime position almost opposite the beach. At times, we’ve been overseeing a dozen renovations at one time and had teams of tradespeople working with a smile on their face, even through Christmas and New Year’s.
Delegating or outsourcing your work is a key ingredient to successful property investing. It took me my first few projects to build relationships, negotiate fair prices and balance our communication styles, but now a system has been built. I now receive a daily call from my project manager with an overview of what’s going on, any issues or decisions to be made and when they are due to be completed. I have so much confidence in my team that I only need to turn up on site when the job is completed.
My clients don’t receive any calls from tradespeople as everything is managed on their behalf. Instead, they prefer to receive a financial report before and after the renovation. This tells them how much money they’ve made. After all, it’s a financial decision, not an emotional one.
Top tips
There are a few quick and easy changes you can make to boost the price of your property with a low-fuss renovation:
• Clean – it’s amazing how a thorough clean increases the appeal of a home.
• Paint inside and out.
• Re-carpet or polish the floorboards.
• Tidy or landscape the garden.
• Change the light fittings, switches and sockets.
• Instead of a new kitchen, simply change the kitchen cupboard doors.
These further renovations are more expensive, but can increase the value of your home significantly:
• Replace the kitchen and bathroom – this is usually the best way of increasing a property’s value.
• Extend out the back or into the roof space.
• Convert the garage into a living space or bedroom.
• Build a carport.
• If you can, subdivide and add another residence or put a granny flat in the back garden – two incomes are always better than one.
Resources
For a handy renovations checklist, helpful information and other tips to keep your
project moving forward, visit “What’s the best way to renovate?” at yourempire.com.
au/in-the-media-journal.
Check with your local Fair Trading Office to see what licenses your tradespeople need,
and check that their license is still valid. You can find more details on the website for
your state office of fair trading:
• <a target="_blank" href="https://www.fairtrading.nsw.gov.au/default">fairtrading.nsw.gov.au</a>
• <a target="_blank" href="https://www.consumer.vic.gov.au/CA256EB5000644CE/HomePage?ReadForm&amp;1=Home~&amp;2=~&amp;3=~">consumer.vic.gov.au</a>
• <a target="_blank" href="https://www.fairtrading.qld.gov.au/">fairtrading.qld.gov.au</a>
• <a target="_blank" href="https://www.consumer.tas.gov.au/">consumer.tas.gov.au</a>
• <a target="_blank" href="https://ocba.sa.gov.au/">ocba.sa.gov.au</a>
• <a target="_blank" href="https://ors.act.gov.au/">ors.act.gov.au</a>
• <a target="_blank" href="https://commerce.wa.gov.au/index.htm">commerce.wa.gov.au/index.htm</a>
<a target="_blank" href="https://www.nt.gov.au/justice/consaffairs/index.shtml">nt.gov.au/justice/consaffairs/index.shtml</a>
Chris Gray is CEO of <a href="https://www.yourempire.com.au/" target="_blank">E</a><a href="https://www.yourempire.com.au/" title="Empire Property Portfolios" target="_blank">mpire Property Portfolios</a> and appeared on Channel Ten show The Renovators.
This is an excerpt from<a target="_blank" href="https://www.themessengergroup.com.au/shop/realestate/property-investing-the-australian-way-3/"> </a><a target="_blank" href="https://www.themessengergroup.com.au/shop/realestate/property-investing-the-australian-way-3/">Property Investing The Australian Way</a>, published by The Messenger Group.
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>
 
 
 
 
 
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When you should turn your DIY reno project over to the professionals: Chris Gray

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Chris Gray

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