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You’re excited, having just purchased a commercial property investment. But what happens from here on effectively determines just how profitable your acquisition will be.
Therefore, choose wisely when selecting your property managers to ensure they share the same aspirations as you do.
1. Maintaining full occupancy
This is what every commercial property investor wants, and it should also be the same for your property manager.
Clearly, the starting point is taking the time and effort to select solid tenants upfront — rather than simply "filling the space". Plus it's important for you to retain a good ongoing relationship with those tenants, which leads on to the next benefit.
2. Having an investor mindset
As investors, you need to think of your tenants as your partners. After all, they are the ones paying your mortgage.
Therefore, top property managers tend to act as though each property was their own. And this attitude flows through to your tradespeople as well — because when promptly paid, they will always respond quickly to any emergencies that may arise.
3. Timeliness
Naturally, this would include ensuring your tenants pay on time. And if not, having a firm but fair system in place to get things back on track.
Once your rentals are in, those cleared funds need to be immediately transferred into your bank account – and you're then alerted by email.
4. Preserving value
You need to have an ongoing preventative maintenance program in place. The reasons why are quite simple:
<ul>
<li>These costs are then known and budgetable; </li>
<li>Your tenants should cover these costs under their leases; </li>
<li>If not, the items are tax-deductible, instead of a capital cost.</li>
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By being planned in advance, it means you are able to select the best tradespeople at the best prices. Plus, your property is being inspected on a regular basis.
 
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5. Proactive advice
Top property managers will come to you well in advance of any market rental reviews (or lease expires) with appropriate recommendations. Likewise just before your insurance falls due.
They should also come to you immediately after the four-yearly council revaluations to advise you on whether or not to challenge the new assessments.
6. Statutory compliance
Unless you are involved with this every day, keeping on top of statutory changes can be a nightmare.
You need to be across them all. But probably the most vital is ensuring your property meets the various essential services requirements.
Every top property manager will already have a program for regular checking and rectification.
7. Marketability
With each acquisition, you should always be looking for ways to add value, through refurbishing or subdividing into smaller components.
This, together with your preventative maintenance program, should ensure your property is in ready-to-sell condition within 12 months of you purchasing it.
That way, you can move quickly should the need arise.
Bottom line: If you have read this far, you're already serious about property investing. And so I'd like to give you a helpful takeaway.
Whether you are about to make a new appointment, or are simply wanting to re-evaluate your existing commercial property manager, <a href="https://property-edge.com.au/after-youve-bought/property-management" target="_blank">here are the 17 probing questions you need to ask.</a>
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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The seven benefits of having the right property manager for your commercial property investment

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In various recent articles, I've tried to explain how Australia's underlying fundamentals are actually very solid.
And by most measures, our economy seems to be travelling at close to its full capacity.
However, the contradiction is that Australia's budget should now be running at a substantial surplus. And the reason it's not relates to a number of structural issues.
Even though the high dollar is causing problems for our manufacturers, unemployment is running at just 5.4% — less than 0.5 percentage points above what economists deemed to be "effective full employment". When it falls below 5%, this tends to put pressure on wages.
<img src="/images/stories/2012/10/langnov5.jpg" width="470">
Source: <a target="_blank" href="https://www.afr.com/">AFR</a>
Anyway, it is the feeble retail sales (through a continued high level of savings) that seem to have become the most visible sign of general consumer conservatism. And this is what's top of mind with most people.
However, in his column in Saturday's Age (pg. 11) Harold Mitchell touched on the record level of betting that had recently occurred at the Caufield Cup.
And he then asked “What does that mean when most parts of the country have been stumbling along in the doom and gloom for months?"
But there are other pointers as well
Mitchell also highlighted the record level of new-vehicle sales, along with the considerable increase in overseas travel.
Clearly, the GFC frightened most people. But maybe they have now become bored with saving and are prepared to spend once again — provided it doesn't cause them to increase their personal debt levels.
Rather cleverly, the car industry seems to have plugged into this consumer sentiment — by offering "0% finance, and five years to pay" on any new purchases.
That way, you are able to buy your new car without having to create another interest meter ticking over.
Bottom line: You are now seeing a growing number of signs that people are finally stirring from their long hibernation.
Moreover, last weekend's strong auction results (with clearance rates for Sydney at 68%, and 66% for Melbourne) have further confirmed an underlying strength within the residential property market.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
 
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Australians emerging from hibernation, which will help commercial property

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Over the past few weeks, you have read the <a href="https://www.propertyobserver.com.au/commercial/five-common-myths-about-commercial-property-investment-chris-lang/2012092456772" target="_blank">five common myths about commercial property</a>.
And also covered in some detail the <a href="https://www.propertyobserver.com.au/commercial/five-reasons-why-serious-property-investors-prefer-commercial-over-residential-chris-lang/2012100957035" target="_blank">five reasons why serious investors prefer commercial property.</a>
Therefore, it's probably time to explore two other issues, which inexperienced property investors often see as being major problems.
Because it can sometimes be difficult to find tenants, you need to significantly reduce the value of a vacant commercial property.
Because banks maintain a lower loan-to-value ratio (LVR) ratio on commercial property, that means you will need to contribute considerably more cash up front.
Let's now unpack these two issues so you can see just how easy it is for you to reshape your thinking about them and thereby gain a strategic advantage in the process.
Finding new tenants
This is probably the number-one concern for most commercial landlords.
In tough times, you need to become a little more creative in your hunt for tenants.
Once you grasp the psychology behind both these methods, you quickly realise that the vacancies are no longer something to be overly concerned about.
But more importantly: being able to snare a vacant commercial property at a discounted price is a blessing, not a problem. You now hold the solution that very few investors are aware of — even some of the pros.
Funding for commercial property
The stated "problem" of commercial property attracting a lower LVR actually contains within it, the very seed of the solution itself.
You see, the value of residential property varies little whether it is occupied or vacant.
A vacant commercial property can significantly increase in value as soon as it becomes leased.
Therefore, your focus should move from being able to borrow only 70% (instead of residentially 85%) of the property's purchase price. And you should concentrate upon borrowing 70% of the increased valuation of your commercial property with a tenant in place.
In most cases, commercial properties are valued by capitalising the net rental your tenant pays. And therefore, having the property fully leased could add around 20% to the value of your property, compared with when it was vacant.
To help you quickly grasp the full extent to which this could benefit you, here's a simple example.
<img src="/images/stories/2012/10/langoct29.png" width="470">
Bottom line: As you can now appreciate, there are definite benefits hidden within these two perceived problems, once you fully analyse and understand the inner workings.
And hopefully, you'll quickly discover some fresh opportunities opening up for you, especially in the present commercial property market.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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How to deal with the two most common problems in commercial property investment: Chris Lang

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Not that long ago, the office market as a whole was progressing well, right around <country-region>Australia</country-region>.
However, following the GFC, each local suburban market has been recovering at a different pace.
<city>Perth</city> rebounded rather dramatically, once the mining sector started to pick up again. And yet it has suddenly plateaued while mining currently takes a breather.
According to recent research by Colliers International, Sydney's suburban office market seems reasonably balanced – with its vacancy levels ranging from 5.1% in<a href="/news"> Homebush</a> to 8.7% in <a href="/news">Parramatta</a> – with the exception of <a href="/news">St Leonards</a>/<a href="/news">Crows Nest</a> (at 10.7%), and Norwest (at 15.1%).
But with continued tenant demand and a lack of supply, you should see vacancies decline sharply in 2013.
On the other hand, <city>Melbourne</city> seems to be currently enjoying a tighter range, from 4.9% in the south-east to 7.9% in the outer east. And even though some 32,000 square metres of space is under construction, about 70% of this is already spoken for.
At the moment, <city>Brisbane</city> is showing a vacancy range from 6.4% in the inner south to 11.1% in Spring Hill. Overall, the <place>Brisbane</place> suburban market sits at around an 8.5% vacancy rate, which is up from its "unbalanced" level of 2% in January 2008.
The <city>Adelaide</city> market is much smaller than other capital cities and can often slip under the radar.
Rentals here have been increasing through strong tenant demand, and a current lack of new space coming on stream. As such, vacancy levels are likely to fall below 5% during 2013.
Markets within markets
While this brief analysis provides you with a quick "helicopter view" of the suburban office markets in the various capital cities, you really need to focus more on the specific suburban regions within each city.
This will mean going back in time as well as studying the projections looking forward.
By way of example: Let's dig a little deeper within the <city>Melbourne</city> market — where from this graph, you can observe the movement in vacancy levels over the past year or so.
<img src="/images/stories/2012/10/langoct22.gif">Clearly, the south-east region has been consistently outperforming the others. And this is expected to remain the case for the foreseeable future – which would tend to make this particular region your preferred choice.
Bottom line: You can't simply rely upon the general health of a particular capital city market as the sole basis for making your decision.
It is important to peel back the layers and delve below the surface to reveal the underlying trends and ensure you have some real substance to justify your intended purchase.
And having that local knowledge will go a long way.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Investing in office property requires knowledge of the local market

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As you will quickly discover, finding suitable commercial property investments comes down to a numbers game. And interestingly, many people consider these current times to be a buyers' market.
However, as a serious investor, you will have found it difficult to identify many really top-notch properties right now. And at the moment, this is probably your number-one concern.
When I'm helping clients to acquire an investment property, half my task is involved in actually finding it. The other half relates to packaging the deal under contract, carrying out the due diligence, arranging finance and bedding down the ongoing management.
And as I said, it is purely a numbers game — and one that requires a considerable degree of persistence.
The 20:5:2:1 Rule
While you might initially look at some 20 properties, you will probably only end up shortlisting five of them at best.
From there, you'll then undertake a more thorough analysis, to decide which of those properties best meet your specific investment objectives and buying criteria.
If you're lucky, you may end up with two properties to choose from. But invariably, it is only one property that will stand out as being suitable.
Only then do you enter the second phase of the acquisition process.
Improving your choice
Therefore, how can you ensure a reasonable selection of properties to choose from?
It all comes down to having a wide network of selling agents who know that you are continually in the market for good property.
Even though these agents are clearly acting for their vendors in each transaction, what you are really seeking is "advance notice" of potential deals before they officially reach the market.
And you achieve this through building relationships with the various agents and being a proven performer over time.
When acting for clients, this has probably been my greatest asset, having this "insider knowledge" of what's going on in the market, at any given time.
Bottom line: Over the past few weeks, I have dispelled a number of the <a href="https://www.propertyobserver.com.au/commercial/five-common-myths-about-commercial-property-investment-chris-lang/2012092456772" target="_parent">more common myths.</a> And also spent some time explaining the <a href="https://www.propertyobserver.com.au/commercial/five-reasons-why-serious-property-investors-prefer-commercial-over-residential-chris-lang/2012100957035" target="_blank">five key reasons why investors prefer owning commercial property</a>.
However, your ongoing success hinges upon having a ready choice of properties. And unfortunately, you'll find the internet is often of little help in uncovering the really great deals.
Therefore, you need to invest the time and effort to create your own system for finding suitable properties. Or simply, put together a team of proven professionals charged with looking after your best interests.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Commercial property investment by the numbers

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Having been involved with both commercial and residential property over the years, it's always interesting to get some feedback directly from investors.
It is particularly interesting to hear from those who have made the transition from residential to commercial property.
Here are the reasons why commercial can be a better investment:
Reason #1: Longer leases
Quite often, residential tenancies will be on a month-by-month basis, maybe six months, sometimes for a year.
Commercial properties will tend to lease for between three and five years, and often for longer. That means you have fewer tenancy changes, and a far more predictable income stream.
Reason #2: Greater security
When residential tenants want to exit a 12-month lease early, they just need to find a suitable substitute tenant, and simply transfer the lease across to them.
This new tenant then becomes responsible for the rental for the remainder of the lease.
Commercial tenants are running a business from your property. And whenever they sell their business, they also require your approval to "assign" the lease.
But here's the difference: If the new commercial tenant defaults in paying the rental, you also have recourse to the previous tenant as well — because commercial leases are business contracts enforceable by law.
Reason #3: Commercial tenants pay outgoings
Typically, residential properties will provide you with a 5% gross rental return.
From this, you need to pay the rates and taxes, insurance, maintenance and so on — leaving you with about a 3.5% net return at the end of the year.
Depending upon what (and where) they are, commercial properties will generate a 5% to 9% rental return.
However, commercial tenants are also required to pay the various building outgoings on top of their rental — making this a true net rental return to you.
Reason #4: Commercial tenants operate a business
If the toilet stops working in an apartment, the tenant asks you to send round a plumber. But commercial tenants quickly attend to the problem themselves, so as not to disrupt their business.
Furthermore, the overall appearance of the property becomes a reflection on them.
Therefore, whether the lease requires it or not, most commercial tenants will regularly repair and repaint your property in order to maintain a good corporate image.
Reason #5: Payment certainty
Most residential properties are rented by individuals. Therefore the rent is generally paid in cash or by personal cheque. And this can often vary in its timing.
Because they are running a business, commercial tenants consider rent as simply another regular expense each month. And generally, this gets set up as an automatic bank transfer – and this can be specified as such in the lease.
Bottom line: As a residential investor, you find yourself having to deal with the vagaries of individual people.
However, as a commercial investor, you tend to enjoy a more predictable long-term relationship with your tenants based upon a proper business footing.
Doesn't that sound like a far better arrangement?
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Five reasons why serious property investors prefer commercial over residential: Chris Lang

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Here are several common misconceptions I frequently hear when people are looking to invest in commercial property.
1. Securing properties using the internet is easy – you don't need any professional help at all.
Finding a suitable property is only half the task.
The other half involves properly assessing the property — both physically and financially. And 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 and construction aspects) is worth its weight in gold.
2. Residential investors will find it a difficult transition.
This stems purely from a lack of knowledge and therefore, proper understanding. And that's where your consulting team 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 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. But you can also buy well-leased strata office suites for between $350,000 and $500,000. And this more or less the same price as you would pay for an apartment.
However, your net return for one of these smaller office suites is around 7% 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 management fees of 7%, your fees to manage commercial property will generally range between 3% to 5% of monies collected — depending upon the size of the property involved.
Bottom line: Hopefully, this short summary has helped to dispel some of the common myths surrounding commercial property.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Five common myths about commercial property investment: Chris Lang

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Will China's growth pick up again? And will it continue to support both Australia and commercial property? Well, that really depends upon who it is you're asking.
Most miners are somewhat guarded; many journalists are painting a gloomy picture; and Labor politicians seem to be arguing among themselves.
So no wonder most of us are confused.
And whenever the general community is confused, it takes what seems to be the safest route and simply does nothing.
Let's peek behind the Chinese curtain
Perhaps the best place to begin is by talking with someone like leading architect Bruce Henderson, who is currently involved in designing major projects in Dilian, China.
He is right at the coalface — dealing with those making the decisions on Chinese future economic progress.
And his explanation of where things stand is alarmingly simple.
Unlike other major economic powerhouses, China only has one political player — the Communist Party.
The administration of that party changes every 10 years, and this is due to occur towards the end of this year. But more on that later.
The 10% to 13% annual growth in China (which required our iron ore and coal) has been driven by massive construction — mainly in new housing and infrastructure.
The government controls the release of available land, by selling long-term leases to developers.
Many of the recent massive housing projects have occurred by reclaiming farmland. (In other words, a 600-unit housing project may contain 100 government "pre-sales" to those rehoused farmers.)
Most of China's recent decline in growth (still at a healthy 8% per year) has occurred through the government's cut-back in granting new leases to developers.
With housing construction at a standstill, there is no income from land sales and the work for new roads, bridges and other infrastructure cannot proceed.
This is what has impacted adversely upon our mining sector.
Understanding the "Chinese logic"
Given that China only has one ruling political party, Communist leaders are solely concerned with image preservation.
Therefore, the outgoing administration has merely "responded to global pressure" and brought China's runaway growth under control — and in the process, orchestrated a soft landing.
When the new administration assumes control later this year, it will heap praise upon the outgoing administration for its "careful and prudent management of the economy".
The, the new administration will make itself look great by stimulating the economy, once again granting land leases for developers to recommence residential construction.
Now it all starts to make sense.
Unlike what you would find in Western countries, the incoming Chinese administration will not be "bagging" the outgoing administration.
Instead, its aim is to position both as having the country's best interests at heart — thereby, allowing the Communist Party to be the overall winner.
Bottom line: Right now, China is about to overtake the US as the world's leading economy.
However, next year (with the new administration in place), China's growth will again begin to surge. And this will not only flow through to Australia's economy, but also provide a welcome boost for overall global growth as well.
Therefore, as a commercial property investor, you can expect to see some solid gains through to 2018-19.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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What China's soft landing means for Australian commercial property investors: Chris Lang

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Leaving aside things like projected cashflows, depreciation and taxation issues for moment, let's look at some of the key factors that determine whether or not the property itself will stack up.
What follows is basically a checklist of the various aspects to investigate when you start looking to purchase a commercial investment property.
And, while this is not intended to be an exhaustive list, it should give you some insight into the depth of analysis you'll need to undertake as part of your due diligence process.
1. Initial appeal
Here you are making a judgement on how the appearance of your building compares with others on offer — both visually now and whether it will quickly become outdated over time.
2. Financial aspects
You'll find there is one very useful yardstick for comparison. And that is the cost of a commercial property per square metre of its net lettable area.
In other words, you need to establish whether the cost of the building (per square metre) you are considering is greater than the cost (per square metre) of other similar buildings sold nearby. And this will quickly tell you whether your building has a more efficient layout or is simply overpriced.
Furthermore, you need to consider whether this building can maintain its current rental level or whether it would need to be upgraded in the near future.
3. Ongoing management
This is a somewhat mundane topic, but you do need to look at just how accessible the plant and equipment is. And you must determine whether enough space has been allocated for it, either on the roof or within the plant room itself.
Also, during construction, were low-maintenance materials used? And have energy-efficient measures being used with power and lighting? You will probably need to seek some professional help, to determine whether this has been properly addressed.
4. Future flexibility
Here you're looking at the actual floor layouts to make sure they are suitable for both whole-floor tenants as well as later subdivision, to accommodate multiple tenants.
Quite apart from these layout issues, how adaptable would the building be for future technological changes down the track?
5. Standard of finish and design
Depending upon the age of your building, it should be somewhat creative in its architectural and engineering design.
But just using trendy materials is of little use if they end up proving unsuitable for the purpose intended. In other words, everything needs to have a functional use.
6. Quality of services
Even though the building may be fully air-conditioned, it may lack sufficient capacity to meet the requirements of modern-day tenants.
And so, part of your due diligence needs to ensure this and other items like the lighting systems, lift services, fire protection and security services are totally adequate.
Under current legislation, all commercial buildings need to provide for disabled access. This can be quite costly to achieve if it has not already been provided.
7. On-site amenities
Will your tenants be able to gain after-hours access? And is there sufficient parking for visitors?
You may consider the use to be minor issues — but they can affect whether you achieve more (or less) than your competition.
8. Environmental issues
These relate (in part) to how well the overall use of the site was planned and how the building itself has been orientated.
But equally, you need to consider how efficiently things like your lighting, heating and cooling will operate — both from an energy consumption point of view as well as the overall running costs involved.
Bottom line: I hope this summary has given you a better insight into the due diligence process I embark upon when assisting you acquire an investment property.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Eight things commercial property investors should consider before buying: Chris Lang

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Unfortunately, you simply can't avoid experiencing some pain whenever structural changes occur within the economy.
However, these changes also provide considerable opportunities for the shrewd commercial property investor. But more on that later.
The reality
It is a huge mistake when governments rush to provide financial support to declining manufacturing industries.
Clearly, those industries will never sustain a profitable position, given Australia's relatively small population, and the consequential short production runs.
The sad reality is that some companies need to be allowed to fail (or be absorbed) so the more competitive and profitable companies can become more productive.
The unemployment truth
There has been much publicity given to recent layoffs from companies downsizing. But interestingly, unemployment levels have remained steady — and in some months, even fallen.
Sure, the mining sector is chasing more employees — to the point of having to "import" them. But not all those laid off are heading west or north. And besides, the mining boom will not continue for ever.
Looking deeper 
As such, there must be something else going on within the Australian economy that is helping to sustain growth now, and into the future.
<img src="/images/stories/2012/08/langaug27.gif">
Source: <a href="https://www.afr.com.au/" target="_blank">Australian Financial Review</a>
And the above graph provides you with the answer.
The sector-by-sector comparison shows that services alone currently contribute around 77% of Australia's GDP.
And manufacturing, mining and agriculture combined are contributing only about 23% of GDP.
Looking forward
Therefore, Australia needs to focus upon its obvious strength — providing highly educated specialist skills to local and overseas markets.
For example, our mining firms have not flourished simply because Australia has resources, which the rest of the world needs.
Much of the profit stems from the cutting-edge engineering solutions adopted by our companies — which have provided them with clear cost advantages.
Furthermore, many of the world's breakthrough technologies and techniques have been developed by Australian scientists, doctors, engineers, architects and the like.
Bottom line: This is where governments need to be investing heavily — rather than propping up failing industries with little or no competitive advantage.
Compared to many Western countries, Australia already punches well above its weight for productivity in the knowledge and service sectors.
And for commercial property investors, this surging service sector will always be needing offices, design studios and related accommodation into the foreseeable future.
That augers well for the suburban strata-office market.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Suburban strata office market looking good for commercial property investors

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

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Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

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Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

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The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Chris Lang

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