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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

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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Chris Lang

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