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Here are several common misconceptions I frequently hear when people are looking to embark upon commercial property investing.
1. Securing commercial properties using the internet is easy.
There are some people starting out in who feel they don't need any professional help with this. But finding a suitable property is only half the task.
The other half involves properly assessing the property — both physically and financially. Then you have to package up the deal that's best for you.
And this is where having a top consulting team (for the property, legal, finance &amp; construction aspects) is worth its weight in gold.
2. Residential investors will find it a difficult transition.
Fundamentally, this stems from insufficient knowledge and, therefore, proper understanding. And again, that's where your consulting team also comes in.
Some of my most successful clients have been those with little or no prior involvement with commercial property. However, they were clear thinkers; and could quickly absorb and assess the advice being given to them.
3. You need loads of cash.
Again, this is simply not true.
Sure, many commercial properties may sell for millions of dollars. However, you can also buy well-leased strata office suites for between $350,000 and $500,000, which is more or less the same price you would be paying for an apartment.
And yet, your net return from one of these office suites is around 7.25% per annum, compared with a 3.5% net return for apartments. So, I'll leave you to do the maths!
4. Commercial tenants are difficult to deal with.
Because commercial tenants are running a business from your property, they have a vested interest to keep it looking presentable.
Besides, their lease will require them to undertake (and pay for) any required maintenance. And when the time comes for them to leave, there is also a clause requiring them to "make good" beforehand.
5. It's harder and more expensive to manage commercial property.
If you choose to manage the property yourself, then you may well run into some costly problems. But that's the very reason why you would engage a competent managing agent.
And unlike residential property (with management fees of 7%), your fees for commercial property will generally range from 3% to 5% of monies collected — depending upon the size of the property involved.
Bottom line: Hopefully, this brief overview has helped dispel some of the common myths surrounding commercial property.
There is nothing overly complicated about commercial property — you simply need to treat it like any other business deal, and do a little homework first. And when you are receiving net yields of 7%+ per annum … you can quickly appreciate why the rewards are worthwhile.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a href="https://property-edge.com.au/" rel="nofollow" target="_blank">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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Five misconceptions about investing in commercial property: Chris Lang

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In this <a href="https://his-best.biz/negotiate-and-win/" target="_blank">short video</a>, you will be given a quick introduction to the three key elements you need to underpin every negotiation.
Because, once you know how to negotiate, this will provide you with your ultimate passport to success.  
However, negotiating clearly involves far more than simply three elements, as you have so many other strategies, tactics and nuances that go into becoming a master negotiator.
But the good news is that all of these are teachable skills which you're able to quickly and easily learn with little or no effort.
As you can appreciate, over a career of 40-plus years, you tend to see and use virtually every negotiating technique there is. And one by one, I have tested them and noted them down.
To the point where I've now compiled: Your A to Z of Negotiating.? And therefore, let me quickly walk you through the very first aspect...
Agendas
Everyone going into a negotiation has an agenda. But the mistake most people make is in assuming that your agenda is the same as theirs.
You know, in all my years as a negotiator, I've never seen two identical agendas. Sure, there may be a few common items, but they never seem to be in the same order of importance, on both agendas.
As such, the number one item on their agenda may well be number seven on yours. And the secret lies in knowing just how to determine that, which is one of the other 25 techniques.
Because, once you know what's on their agenda, you are then in a strong position to trade your lesser items, to achieve your ultimate objective.
In fact, the biggest mistake you can ever make is to allow your negotiation to reach the point where price has become the only item under discussion. From there on, one party has tolLose in order for the other to win.
Basically, there are only four outcomes for every negotiation…
<img src="/images/stories/2013/06/langjune5one.jpg" alt="langjune5one" width="470" height="278">
Your aim ought be to take control of the negotiation and steer it towards a win-win result. That way, it ensures the deal will 'stick' while the documentation is being prepared.
Bottom Line: If you really are serious about improving your negotiating skills, you might care to <a href="https://his-best.biz/negotiating-secrets3/" target="_blank">enroll in my master class on negotiating</a>.
Chris Langis an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a href="https://property-edge.com.au/" target="_blank" rel="nofollow">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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Negotiating the best deal in commercial property transactions: Chris Lang

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At some point, your commercial tenant will simply move on. It just happens from time to time.
Therefore, what we'll do here is explore some creative ways to address this and still maintain your sanity, at the same time.
But no matter which approach you adopt, there are several things you always need to do.
1. Obtain (or compile) a list of potential tenants to target.
<ul>
<li>
This may be by geography (i.e. businesses located in the surrounding area); or
</li>
<li>
It may be by business category (i.e. types of businesses you feel your property would ideally suit)
</li>
</ul>
The geographical approach is best suited to industrial property.
In which case, you simply get in your car and drive around the nearby streets, noting down the firms who occupy premises of roughly the same size as yours.
But what about the list by business category?
As old-fashioned as this may sound, I still tend to go first to a hard copy of the Yellow Pages. Using your category list, you look up those specific business types located in and around where your property is located.
Exactly how many categories, and how far you spread from your property, is up to you. However I would probably be suggesting 8 to 10 business categories, and maybe out as far as 5 km.
In any event, you should be looking to come up with a list of around 300 firms to call. That way (and based upon my 2% success rate), you should then end up with between five and six potential starters.
2. Establish who you should be speaking to.
Interestingly, it's not always the CEO. Sometimes it will be the office manager; other times, the financial control.
You may need to have someone else call up beforehand, to establish exactly who the decision-maker is, so that you can straight away ask to be put through to that person.
Now you've compiled your list of target firms to contact, and identified the key people involved, you may find it helpful to actually role-play a couple of very successful tele-scripts for when it comes to making those "cold calls".
Bottom line: This should give you some fresh insights on how easy it is for you to make your cold calls and be successful, whenever you have a vacancy, even in a tough market.
Chris Langis an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a href="https://property-edge.com.au/" target="_blank" rel="nofollow">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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How to find a new commercial property tenant: Chris Lang

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You need to look 'behind the curtain' and not allow yourself to become concerned by recent headlines. Just remember: media companies need to make sure their newspapers sell.
Last week, share market speculators drew breath rather sharply as China's three-month growth in GDP to March came in at "just 7.7%".
True, this was down from the expected 7.9%, but it was still in line with China's overall growth throughout 2012.
However, let's get real: compared with anywhere else in the world, 7.7% is clearly an enviable figure.
How will China affect the mining sector?
You can undertake any amount of micro-economic analysis you like, in attempting to predict alternative scenarios for China's future. But let's just stick with the underlying fundamentals.
Right now, China is so far only about 50% urbanised — exactly where the US was in 1920. And China's current steel consumption is 500 kg/person — the precise amount the US was consuming, at the same point in its urbanisation program.
It took the US from 1920 until 1975, before it reached the 75% level of urbanisation, and from there on, it has more or less plateaued.
During this period, US steel consumption peaked at 700 kg/person. And then fell back to 400 kg/person.
Given the lengthy time span, and the potential level of steel consumption involved, I will leave you to reach your own conclusions about China's likely impact on our mining sector — even if you choose to discount this potential going forward.
And what about the US economy?
Yes, there have been mixed messages flowing out of the US. But again, let's focus upon the underlying determinants of consumer confidence.
According to The Saturday Age (20 April, page 2), the US housing market is now once more recording healthy price gains.
The well-regarded Case-Schiller home price index (pictured below) confirmed that prices rose on average by 8.1% in 20 major cities during January. As you can see, there were some standout examples.
<img src="/images/stories/2013/04/langmay1one.jpg" width="400" height="578" alt="langmay1one">
However, in addition to this fillip to consumer confidence, US companies emerging from the GFC have engineered substantial gains in productivity.
And therefore, while the US recovery may appear to be a little slow, the necessary ingredients are there for it to be sustained.
Bottom line: So far this year, Australia has seen an unprecedented surge in overseas buyer interest for commercial property — particularly from Asia.
However, you only need to look at the yield disparity between the rest of the world and Melbourne and Sydney, to fully appreciate why (see chart below).
<img src="/images/stories/2013/04/langmay1two.jpg" width="400" height="509" alt="langmay1two">
Furthermore, overseas interest rates are far lower than ours — making the numbers even more attractive. And so, as this demand grows, prices will inevitably rise.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a rel="nofollow" href="https://property-edge.com.au/" target="_blank">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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Don't be put off by negative press when considering commercial property prospects: Chris Lang

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Should you be fixing the interest rate for the term of your investment loan, or simply running with the best variable rate?
Lurking behind that question is another concern: will interest rates fall any further, and if so, by how much?
The case for a further interest rate cut:
Many pundits feel the rest of the rest of the economy may not pick up the slack from the anticipated decline in the mining sector.
And that's mainly because manufacturers are still struggling on two fronts in coping with our high dollar:
1. cheaper imports make them less competitive in Australia; and
2. the high dollar makes their exports less competitive overseas.
Even though new housing construction enjoyed a 2% jump during the December quarter, it has since flattened out and may well need a boost.
The case against a further interest rate cut:
With the level of Australian household savings at a record high, a sizeable "war chest" has been created for consumers.
And after five years of doing nothing, most people have now become rather bored. They have been squirreling away funds for a rainy day, which (for Australia) simply hasn't come.
So far, it has purely been a confidence issue. But positive events have been consistently occurring over the past six months. Things like:
<ul>
<li>
A partial resolution of the US fiscal cliff;
</li>
<li>
US employment data continues to improve;
</li>
<li>
Our government has backed off its surplus commitment;
</li>
<li>
Iron ore prices have increase about 70% since September;
</li>
<li>
The EEC claims the "essential threat" to the euro is over;
</li>
<li>
Australian share prices and bond yields have risen; and
</li>
<li>
Unemployment has remained fairly steady.
</li>
</ul>
All of which would tend to indicate the only way for interest rates from here is upward.
The blip in the unemployment figure of 5.6% for March will probably provide you with a small window in which to still obtain a competitive fixed interest rate for your mortgage.
Because <a href="https://his-best.biz/does-a-solid-sales-increase-in-february-mean-the-retail-sector-is-back/" target="_blank">as we discussed last week</a>, the unexpected strength of retail sales during February is seen as a lead indicator — signifying the return of consumer confidence.
And that has also been reflected in the high clearance rates for in-city residential auctions around Australia — currently hovering between 65% and 70% each week, so far this year.
By mid-2013, this will also be fully reflected within the commercial sector, which is already starting to see a strong increase in demand.
Bottom line: you probably have about two months in which to secure a reasonable fixed rate for your investment loans. And I would strongly suggest you <a href="https://his-best.biz/commercial-property-arranging-your-finance/" target="_blank">engage a good finance broker</a> to help you source them.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a target="_blank" rel="nofollow" href="https://property-edge.com.au/">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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Now could be the time to secure a competitive fixed-rate investment loan: Chris Lang

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There is currently two schools of thought with regard to the future of the retail property market.
The first believes that after much hibernation, retail property is set to surge again.
The second believes that with the high dollar, and growth in online shopping, retail has much catching up to do.
Despite Australia having been mostly sheltered from the GFC, retailers (especially in strip shopping centres) have been doing it rather tough.
Before the GFC, retail property yields had plummeted – in some cases, as low as 3.5% per annum – with investors clamouring for what they saw as "sexy property". And they believed values would always increase dramatically.
Then, everything changed
Consumers became nervous, and decided to save or pay off more of their mortgages rather than spend on anything other than necessities. And this continued for the ensuing five years.
That is, until February 2013, when retail sales surged 1.3% — the largest monthly increase for 12 years.
Moreover, according to the ABS, it appears to be broad-based with strong growth in household goods and department stores (both up by 1.6%) and eating out (up by 1.3%).
Therefore, on the face of it, things appear to be looking rosy for the retail sector once more.
Yet, all is not well
Perhaps a snapshot from a typical strip centre in <a href="/news">Fairfield</a> in Melbourne would suggest otherwise.
According to the Herald Sun, "In Fairfield's trendy Station Street, some stores have shut and others have shifted online but, as Elissa Doherty reports, at least the op shop's thriving..."
This strip centre is punctuated by vacant shops with one boutique saying it all with a sign: "Closing down sale, going online".
Overall, the fashion and specialty shops are still struggling. Although food seems to be holding its own — presumably because everyone still needs to eat.
And sadly, this scene will merely be a reflection of what's occurring in most capital cities around Australia.
Bottom line: you simply need to go back to basics. Gone are the days of retail property being considered the glamour sector.
To be a successful investor, what you require is:
<ul>
<li>
an established retailer;
</li>
<li>
running a profitable business;
</li>
<li>
secured on a long lease; and
</li>
<li>
paying proper market rental.
</li>
</ul>
In other words, the precise criteria office and industrial investors have been adopting for years.
However, with the ongoing structural changes still occurring in the retail sector, that may prove to be a rather difficult task.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a href="https://property-edge.com.au/" rel="nofollow" target="_blank">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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Retail property is no longer glamorous

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Before you commit to a commercial property purchase, it is important to establish what funds you actually have available to invest.
It's certainly not a complicated process – but a vital one, nonetheless.
You see, many investors tend to overestimate – and some will even underestimate – the amount of the funds they may have available. That immediately impacts upon the value of the property you can acquire.
There are two key mistakes you can make:
1. Unwittingly underestimating your equity. When starting out, many commercial property investors tend to only consider the amount of ready cash they've got on hand. Whereas, you will generally find you have access to considerably more than you think. You might already have a home you own, and perhaps an apartment as well – even though there may be existing mortgages involved.
By talking with your finance broker (who should already be part of your consulting team), you will most likely to be able to restructure your current borrowings. In that way, you can release additional funds to add to your available equity.
2. Overlook some of your acquisition costs. On top of the purchase price, you also need to allow for things like stamp duty, legal costs, a valuation and so on. Depending on in which state you purchase, your "on-costs" will range between 6.5% and 7.5%. Therefore, I suggest you allow 8% on top of the price in order to provide for a comfortable safety margin.
You need to remember that your loan is based on a percentage of the property's value. However, the on-costs need to come out of your own pocket. As such, you need to ensure there are no surprises when the time comes to settle on your property.
Bottom line: trying to factor in all of this can become a little confusing. Unless, of course, you do it on a regular basis or already have access to some software to handle these calculations for you.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a href="https://property-edge.com.au/" rel="nofollow" target="_blank">Property Edge Australia</a> to help you get the most out of your commercial property investing. 
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Accurately determine your available funds before investing in commercial property

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Most investors believe keeping an eye on the daily media will provide you with the best opportunities.
Others will mainly focus upon distressed sales like "Mortgagees' Auctions".
However, by doing that, you are effectively pitting yourself against considerable competition.
And while the property itself may be first-class, you are unlikely to end up with a "top deal".
How to make it work for you
That's not to say you shouldn't consider commercial properties being auctioned or put to tender.
However, your best interests will not be served by actually participating, as part of that advertising campaign.
You see, as the market improves, vendors will start to become "a little high in the stirrups" as far as the price expectations are concerned.
As such, the auction/tender campaign can often serve as an education process where vendors discover what the market considers their property is really worth.
However, once the sale date passes without achieving a result, the general buying public loses interest and tends to move on to the next approaching auction or tender.
This is when you swing into action!
If that particular property remains unsold after three or four weeks, you need to understand two things:
<ol>
<li>There is nothing necessarily wrong with the property itself; and</li>
<li>The vendor is most likely now ready to meet the market on price.</li>
</ol>
Therefore, what the daily media provides you is an upcoming inventory of potential opportunities — which you then need to monitor.
But you should only begin spending time investigating these properties a week after the sale date has passed. And then, only the properties which fit your <a target="_blank" href="https://www.propertyobserver.com.au/commercial/australia-to-continue-as-commercial-property-investment-hotspot-in-2013-jones-lang-lasalle/2013032760094">investment</a> objectives.
Avoiding the competition
Wouldn't you prefer to investigate a buying opportunity without the added pressure of competition?
Developers and investors often want to sell their properties as soon as a tenant has committed to a new lease or exercised option.
But in the current economic climate, it can take anywhere from three to five weeks before the formal lease is actually signed after reaching agreement on the commercial terms.
Therefore, what I've done to help my clients is build up a close-knit group of agents who will keep me abreast of any such opportunities.
You see, until the lease is actually executed, those agents cannot offer the property to the open market. However, an offer to lease has been signed; and the first month's rental paid.
As such, the deal does exist, but it still needs to be formally documented.
Bottom line: With these opportunities, my clients are able to reach an agreement to purchase the property, subject to the lease being executed on the agreed commercial terms.
But the real bonus is the saving in advertising expenses (now the vendors can make a quick sale, without any advertising costs) because it ultimately translates into a reduction in the purchase price.
And that means a win-win outcome for both parties.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a target="_blank" href="https://property-edge.com.au/" rel="nofollow">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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Keep an eye on commercial properties that fail to sell: Chris Lang

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Whenever you're looking to acquire a commercial property for $1 million or more you should undertake thorough due diligence on it before making a final commitment.
However, some investors new to commercial property generally find themselves with a dilemma:
1. By carrying out their due diligence before making an initial offer, they could end up missing out on the property and running up unnecessary costs; or
2. By trying to make due diligence a condition of the contract, this may offend the vendor and derail the whole deal.
So, let's explore both of these approaches in a little more detail.
<h3>Due diligence before making your offer</h3>
Apart from incurring costs and running the risk of missing out, there is an even more important reason for not undertaking your due diligence before finalising the commercial terms of any deal.
You see, once you have completed your due diligence study, the vendor will assume your subsequent purchase proposals take account of any "defects" you may have found.
And you are then also making your offers against other buyers, who may not have been as thorough as you have.
Either way, you are at a disadvantage.
Due diligence after agreement is reached
At first glance, achieving this may seem an impossible outcome. But it all comes down to carefully framing your initial purchase proposal.
Anyway, more on that in a moment.
Once you pull it off, a post-agreement due diligence provides you (as the purchaser) with the upper hand:
<ul>
<li>You have already agreed the commercial terms of the deal;</li>
<li>The contract is conditional upon a satisfactory due diligence; and</li>
<li>You are not incurring any unnecessary costs.</li>
</ul>
But most importantly, if you do find any impediments with the property or documentation, you get a second bite at the cherry.
Sometimes, that may be reflected in an adjustment to the purchase price. And other times, the vendor will simply agree to rectify the problems you have uncovered.
Either way, you end up with an improvement to the deal already under contract.
How do you set all this up?
As mentioned earlier, it all comes down to how you frame your initial purchase proposal.
You see, most people view negotiating as an event, without realising that it is actually a process.
But even worse than that, they tend to focus solely upon one aspect: the price. Therefore, you end up with a situation where one party wins while the other loses.
Under those circumstances, to then ask for everything be "subject to due diligence" is clearly fraught with danger.
The secret lies in properly framing your initial proposal to include at least three or four items under negotiation, one of which being the aspect of due diligence.
Bottom line: Top clients are given a copy of this purchase proposal from my swipe files — which you will also receive, as soon as you become part of my <a target="_blank" href="https://howtomastereverynegotiation.com.au/">Negotiating Master Class</a>.
And armed with this, you'll then hold a strategic advantage during all future purchases you make.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a rel="nofollow" href="https://property-edge.com.au/" target="_blank">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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Think carefully about your commercial property purchase due diligence: Chris Lang

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Overall, people appear to have returned from their Christmas break with a renewed sense of confidence — certainly as far as commercial property is concerned.
In a recent article, I covered <a href="https://his-best.biz/commercial-property-looking-ahead/" target="_blank">the reasons for this change</a>.
However, investors are also being buoyed by the past two weeks of solid economic data, including a welcome boost to Australia's trade balance and retail turnover increasing by 0.9% during January.
And with the corporate reporting season now over, the stock market has provided the ultimate confirmation of things having bottomed out.
No longer are people concerned about falling property prices. Instead, there is a growing fear they may actually be missing the full benefit of the upswing.
The business of analysis
So let's get down to business and explore several questions you need to be asking — as part of analysing any properties you may be considering.
<ol>
<li>What net rental are they generating?</li>
<li>What does the sale price represent per square metre?</li>
<li>How do both these figures compare to market levels?</li>
<li>What would it cost (per square metre) to build the property today?</li>
</ol>
Forming a complete picture
In an earlier article, I gave you <a href="https://www.propertyobserver.com.au/commercial/how-you-can-find-the-best-deal-when-buying-a-commercial-investment-property-chris-lang/2013022059473" target="_blank">several simple ways to uncover a good deal</a>. However, these further four questions will help you gain an even better appreciation of what's needed to fully assess your potential acquisitions.
Establishing how much a property is worth occurs through comparison with other similar properties.
And in the absence of many years of study to become a qualified valuer, you now have a simple toolkit to use as part of your initial research.
For a more detailed final assessment you will still need to involve your trusted consultants (for legal, property, construction etc). But you are now more than capable of creating your own shortlist of potential starters.
Bottom line
What's important is for you to take action right away, if you have any plans at all to acquire commercial property.
Because otherwise, you will find yourself joining the mid-year rush — as the penny finally drops, and investors realise the upswing is already underway.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a rel="nofollow" href="https://property-edge.com.au/" target="_blank">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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Don't miss the commercial property upswing: Chris Lang

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

Chris Lang

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