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Every negotiation can be very easily broken down into its component parts once you understand what is really going on.
Over the next few weeks, I'll be posing 20 questions, which (when taken together) are intended to help you fully grasp everything involved.
These questions will ensure you are thoroughly prepared, as they will also serve to remind you of the key things you should watch out for "at the table".
Both before (and during) any negotiation, here is what you need to be asking yourself. Are you:
1. Pursuing what you really Want?
Never enter a negotiation until you have a clearly defined outcome in mind. Be sure to write it down concisely, and then make it the focal point of your prep work.
2. Researching your opposition?
This is very important. Learn as much as you can about whom you're up against. Try to discover what it is they want, their strengths and weaknesses, even their likes and dislikes.
3. Preparing thoroughly?
And that means point by point.
It's important to do your homework on the property, the market and the neighbourhood. You do not want to be fumbling for papers, looking for statistics or sales evidence. Instead, you need to focus on the deal and have everything at your fingertips.
4. Considering method and timing?
Wherever possible, start your negotiation face to face. It's always easier for them to say no over the phone or by letter. Furthermore, master negotiators will always initiate the "process" to gain the advantage of both preparation and timing.
5. Achieving early agreement?
Try to get minor agreement on one or two point, early in the negotiation, even if it's just the recognition of a potential problem.
For example: “I think we can agree we have an issue with _________, so let's find a way to resolve that.”
6. Exploring constraints and flexibilities?
Discovering the cards held by the other side can be invaluable. Some of their constraints may be immovable, but you may find some issues to be reasonably flexible.
Likewise, examine and understand your own constraints and flexibilities.
7. Adopting a reasonable attitude?
In many negotiations, you end up forming a relationship with the other side, and this needs to be mutually beneficial. Therefore, recognise and acknowledge their constraints and desires, just as you expect them to recognise yours.
8. Listening carefully?
As you can appreciate, listening is actually quite different from merely hearing, whenever someone speaks to you. Make sure that you fully understand what is actually being said, but more importantly, why it's being said.
9. Offering solutions?
You need to understand that it's certainly not one-way traffic. Part of your role is to come up with solutions.
In every negotiation, you ought to try making a guess as to what objections, issues, and problems the other party is going to come up with. Once you do that, you can propose alternatives, solutions, and flexible outcomes that they may well not have even considered.
10. Properly anticipating?
What you're trying to anticipate here are the other party's reactions, objections, and responses.
For each possible objection or reaction, list what you might be able to use as a response. Try and come up with alternatives and examples, to counter the other party's potential negatives.
11. Seeking out win-win resolutions?
When it's all said and done, Negotiating is really nothing more than give and take by both parties.
What you're seeking to do is trade your least important items for those that will really help you achieve your desired outcome.
12. Proposing options, not ultimatums?
You should only use an ultimatum as a last resort — only when you can back it up and carry it through, and the other side knows that. Even then, you are probably better to seek options and alternatives, which will lead to a positive outcome for both parties.
Whenever the only answer simply is yes or no, someone has to lose.
13. Staying with the big picture?
Don't allow yourself to end up debating just one point or issue. To resolve that single issue will again require someone to lose.
To achieve your desired outcome, always make sure you have a number of variables under negotiation, all at the same time.
That way, you can float “trial balloons” simultaneously in an attempt to trade what are minor issues for you.
14. Adopting persuasive rationale?
Think about what you need to do (or say) to logically convince the other side — without the need for confrontation.
You might not necessarily win every point, but they will have difficulty finding flaws in your logic. Whenever they are ambivalent on a point that's important to you, your logic will win the day.
Bottom line: You're now about 70% of the way through your prep-work for a successful negotiation. And after next week, will have the complete framework to refer to.
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 target="_blank" title="Chris Lang's blog" href="https://his-best.biz/">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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chrislang-EQKojcgJPV

Fourteen questions to ask yourself before you begin a negotiation in commercial property

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Right now, the Sydney suburban office market is trending sideways. And that's rather good news, because the general consensus was it was about to slump.
While its vacancy rate sits at 9.6%, there is little new space coming onto the market over the next couple of years.
Because of the recent general uncertainty, most of lettings the have come about through lease renewals – as businesses choose to stay put, rather than relocate.
The expectation is for a return to solid rental growth during 2012-13, as business confidence improves.
The Melbourne market has a lower vacancy rate.
Although demand for space actually fell, so did the rate of new construction over the past year — which has kept Melbourne's vacancy rate at 5.7%.
Once again, there is no new construction in the pipeline. And over the past 12 months, the market seems to have been dominated by owner-occupiers and private investors.
This trend is likely to continue as larger investment trusts selectively re-balance their portfolios, by divesting some of their suburban offices.
Bottom line: Both the Sydney and Melbourne suburban office markets appear to be at (or just leaving) the bottom of their cycles.
And with little new construction looming, now would be perfect timing to secure a well-let office suite — ready to ride the strong upswing, during the next four or five years.
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://his-best.biz/" title="Chris Lang's blog" target="_blank">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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Now is a good time to invest in Melbourne and Sydney suburban office markets

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Last week, <a target="_blank" href="https://www.propertyobserver.com.au/commercial/how-to-market-and-sell-your-commercial-property-investment/2012030553685">I explored the various selling methods available to you</a>, which ones were the preferred, and why.
Plus, you were also given some initial insight into the benefits of using web (or "wealth") marketing techniques. But how does this differ from traditional marketing for commercial property?
Traditional marketing tends to adopt a "scatter gun" approach, which depends heavily upon expensive media advertising and a detailed information memorandum.
Whereas stealth marketing is more like using a "laser gun", focusing on your target market using a personalised direct-email campaign, plus a dedicated website, to explain everything about the property.
What else should you expect from your selling agent?
Your agent should be able to explain the current state of the market to you in detail, as well as providing a firm estimate of the likely price for your property.
But you're entitled to expect a whole lot more. And so, by way of a quick checklist, a good selling agent should also:
<ol start="1">
<li>Gather and collate all necessary information to ensure purchasers will be fully informed and capable of making a decision to buy;</li>
<li>Liaise with you and your lawyers to make sure the documentation is fully complete and correct; </li>
<li>Create a dedicated website (or at least several webpages) for your property – making everything available to prospective buyers, in exchange for their contact details;</li>
<li>Co-ordinate the overall marketing campaign: mailing out brochures and letters (or preferably, sending out personally addressed emails, with direct links for the website) to those potential purchasers known to be currently active in the market;</li>
<li>Try to secure editorial coverage within the various media being used;</li>
<li>Qualify and record all the enquiries that are generated throughout the marketing campaign;</li>
<li>Arrange for the various inspections to take place;</li>
<li>Prepare prospective buyers for the actual auction or tender;</li>
<li>Keep you advised as to progress, on at least a weekly basis;</li>
<li>Ensure all preparations are made, so that everything runs smoothly on the day of the auction or the close of tenders;</li>
<li>Conduct the auction (or open the tenders with you) and attend to signing of the contracts with the successful purchasers;</li>
<li>Depending upon local requirements, ensure an early release of the deposit;</li>
<li>Follow up with your lawyers to ensure that the documents have been executed to their satisfaction; and</li>
<li>Once the deposit has been released account to you with the deposit monies, 30 days after the sale, setting everything out in a detailed statement for the sale.</li>
</ol>
Bottom line: Unless your selling agent is proposing to undertake these vital 14 steps on your behalf, then you should be looking elsewhere.
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://his-best.biz/" title="Chris Lang's blog" target="_blank">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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Fourteen steps a selling agent should take when selling commercial property

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What you need is a strategy to make absolutely sure you obtain the best possible price when you sell.
And you do this by creatively targeting investors, developers and potential owner-occupiers — through adopting a broad (yet cost-effective) marketing campaign, which draws out those buyers best suited to your property.
Choosing the best method of sale
The number-one secret for successfully selling any property is to promote the feeling among your prospective buyers that "they could miss out".
However, this is difficult to achieve with a straight private sale. In fact, this method generally takes far longer to achieve a result — as it fails to create any sense of urgency in a buyer's mind.
Plus, you are at a real disadvantage in having to nominate an asking price. Traditionally, you need to inflate this figure to allow for the expected level of negotiation. But that becomes a double-edged sword.
You could effectively deter potential buyers because your figure is considered to be too high. Or it could go the other way — you may end up selling at a figure below what buyers may have been prepared to pay, simply because your buyers were not put under any competitive pressure.
For my clients, I recommend either a public auction or tender as the most appropriate method of sale.
That way, prospective buyers are all heading towards a fixed end-date and there is no need for you to publicly nominate an actual selling price — so you maintain control all the way through.
How to market your property
As you'll appreciate, media advertising can be very costly. And there is also a limit to just how much you can actually say about the property in any one advertisement.
So the best approach has been to link the media ads to dedicated web pages for each property, which has proven extremely successful.
You will find most agents simply choose to place their properties onto the internet in a rather generic form using portal sites like realcommercial.com.au or commercialrealestate.com.au.
But this creates a problem for you, in that every buyer for your property needs to go through a lengthy search process on one or more of these portal sites.
And what's even worse (for you as a vendor) is that these buyers will probably discover several other properties they prefer along the way!
Bottom line: What works best is to create a dedicated website (or least several web pages) for your property. And then promote that specific web address via the media ads, the brochure and the board.
That means prospective buyers are able to home in on your property to view and download everything about it. And probably do this after hours, when your agent is actually closed.
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://his-best.biz/" title="Chris Lang's blog" target="_blank">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 market and sell your commercial property investment

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As you will appreciate, being able to sleep at night is one of the key objectives for any commercial property investor.
And that's what many property investors refer to as staying below your "threshold of insomnia".
There can be several things that might cause you to lose sleep. One is over-borrowing, and the others are making a poor assessment of the market and the property itself.
Six tips on what you should do:
<ol>
<li>Always maintain sufficient cash reserves in order to cover several months' mortgage repayments — just in case you were to lose a tenant, or the tenant is simply late in paying for some reason.And keep a sharp eye on smaller items like any equipment and maintenance bills, which can quickly add up.</li>
<li>Make sure you have an investment plan you're comfortable with, and then follow it. In other words, set realistic goals and go after them. More goals have been missed through lack of planning than through the plan itself failing.</li>
<li>Get yourself a financial calculator or access to a good software program. And learn to use it to generate a realistic projected cashflow on an after-tax basis.</li>
<li>Always keep yourself up to date with various trends within the marketplace. Make sure you monitor the news and legislation affecting real estate, undertake courses, attend seminars and read books on commercial property. Knowledge will reduce your risks and improve your profits.</li>
<li>Identify and engage a top team of consultants (property, legal, finance, construction, etc). The money you pay them will be more than returned to you through the deals they will help you put together.</li>
<li>Wherever possible ensure your mortgages to not require you to provide a personal guarantee. Always strive to make them non-recourse loans.</li>
</ol>
Six tips on what to avoid:
<ol>
<li>Do not be tempted to invest a large proportion of your funds into speculative investments. They may appear glamorous on the way in, but they are often painful on the way out.</li>
<li>Never do deals on a handshake — always put them in writing, for your own protection.</li>
<li>Avoid entering into joint ventures or partnerships without taking detailed advice from your advisors.</li>
<li>Never commit funds from the sale of one property to finance another until settlement on the first one occurs. Too many "sure deals" have an uncanny habit of coming unstuck.</li>
<li>Avoid mortgages with variable payments. There are too many elements outside your control, such as a sudden surge in interest rates. Ideally, choose a fixed- rate mortgage. But at worst, have a 50/50 split between a fixed-rate and variable-rate mortgage. </li>
<li>Shy away from properties that have substantial negative cash flows (where your expenses considerably exceed your income from the property). The return on equity may be greater, but you can leave yourself rather exposed — much like share traders discovered with their margin calls. Just settle for neutral gearing; and then maximise your depreciation benefits.</li>
<li> </li>
</ol>
Bottom Line: With commercial property investing, always live within your means and reinvest profits. It is far better to be inconspicuously wealthy than ostentatiously poor.
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://his-best.biz/" title="Chris Lang's blog" target="_blank">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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Six do's and don'ts for commercial property investment

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When it comes to commercial property investing, have you ever actually sat down and analysed your principal aims?
And have you then matched them against the properties you already own — or those you may now be considering?
Basically, you'll find most people purchase commercial property for one (or more) of four reasons.
<ul>
<li>to receive a solid cashflow;</li>
<li>to provide a profitable return;</li>
<li>to benefit from tax savings; and</li>
<li>as a hedge against inflation.</li>
</ul>
You may feel you'd like to achieve all of these. But generally, one or two will stand out as being more important for you.
As you're probably aware, the truly rich tend to generate their capacity for wealth through their business activities. But then, they turn to commercial property to preserve and grow that wealth.
And in the same way, your underlying principles should also be to protect your original equity, and then obtain a worthwhile, ongoing return on it.
With that in mind, you would need to remove anything of a highly speculative nature from among the properties you pursue. Because, what you're effectively seeking is solid growth — without unnecessary risk. And that brings us to:
Your investment profile
More often than not, you can determine your profile based upon your personality type and your past experience.
Type #1: The Risk Taker
Some people love telling stories about how they "gambled a lot" — where they would have either made a fortune or gone broke. These investors can be quite entertaining to listen to, but rather dangerous to imitate.
Type #2: The Armchair Investor
These people certainly know their stuff — because they attend lots of seminars, read many books and are probably a regular on several forums. But they never have enough conviction to actually invest for themselves.
Type #3: The Shrewd Conservatives
These are the mildly aggressive investors, who only increase the size of the portfolio when they have enough funds in reserve. They do their homework before buying and don't put the existing properties at risk.
Bottom Line: As you can appreciate, it is the Type #3 investor who is most likely to succeed. And that's the one you should strive to emulate, going forward.
Anyway if you'd like to explore all of this in more detail, I would invite you <a target="_blank" href="https://commercial-property-secrets.com/">to watch a video</a>, where I'll walk you through a case study and also outline the precise steps you need to follow.
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 target="_blank" title="Chris Lang's blog" href="https://his-best.biz/">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 three types of commercial property investor: Which type are you?

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Before you purchase your next commercial property, you need to take some advice on which purchasing vehicle is right for you — because it's definitely not “one size fits all”.
The Australian Tax Office is quite happy for you to arrange your affairs so as to minimise the tax you pay. In other words, it is quite legal for you to avoid tax — you simply cannot evade it.
Income tax and capital gains tax are clearly two important issues to consider when arranging your property investments, and so, too, is GST.
But tax planning is not the only factor to consider. There are other commercial concerns that you should also address, depending on your circumstances. Apart from ensuring your overall flexibility, you also need to be able to:
<ul>
<li>admit partners down the track;</li>
<li>allow one or more individuals to sell out when desired;</li>
<li>cope with future tax changes;</li>
<li>handle a marriage breakdown;</li>
<li>cope with the death of one or more individuals;</li>
<li>pass on the investments to future generations; and</li>
<li>take advantage of the new superannuation provisions.</li>
</ul>
If you haven't already done so, you need to give careful thought to these matters in choosing the best investment "vehicle" for your next purchase.
From a tax viewpoint, which vehicle is best for you?
The simplest way to answer this question is to fully review the advantages and disadvantages of the commonly recommended tax structures and decide which best suit your circumstances. Those possible structures (investment vehicles) include:
<ul>
<li>Company</li>
<li>Fixed trust (commonly referred to as a unit trust)</li>
<li>Partnership, or joint venture</li>
</ul>
Depending upon your particular situation, there will be one vehicle better suited to your needs. And it is vital for you to determine that before you finalise the contract of sale for your next purchase.
You may prefer to obtain advice from your accountant. Alternatively, most competent legal firms will have a taxation division, which can provide you with that advice.
And this is always my preference — because there is then less chance of something being able to "slip through the cracks".
Generally, the discussion about the most appropriate investment vehicle takes only about  15 to 20 minutes with a tax adviser.
However, the real advantage comes from being able to dovetail the formation of that vehicle with the conveyancing aspects of the contract itself — because everything is now happening in-house.
Bottom line: You are able to leave that initial meeting with the comfort of knowing the transaction will now be documented in the most tax-effective manner.
Plus, it will also provide you with the greatest flexibility down the track; and you now have one fewer thing to follow up in the process.
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 target="_blank" title="Chris Lang's blog" href="https://his-best.biz/">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 choose the right investment vehicle for your commercial property investment

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Once you have carefully chosen your commercial property investment, and negotiated a great deal with the purchase, you then need to turn your mind to ensuring you extract the most from it during your time of ownership.
Therefore, you either need to know how to properly manage the property yourself or you engage some professional help to handle that for you.
And in the current litigious climate, there is no way you can possibly keep abreast of all the regulatory requirements relating to property ownership.
So your next question becomes: "How do I know whether a particular property manager is up to the task?"
To help you, here are the key areas where your property manager needs to be really well versed.
1. The market and the marketplace
<ul>
<li>Rental levels in your property's market</li>
<li>The balance of supply and demand in your market</li>
<li>Up-to-date records of properties, owners, tenants and service providers</li>
</ul>
2. Taxation (especially GST and capital gains tax)
<ul>
<li>Taxation advice in relation to repairs/replacement</li>
<li>Income management</li>
<li>Budget forecasting</li>
<li>Depreciation</li>
<li>Insurance</li>
</ul>
3. The laws governing ownership and leasing of property
<ul>
<li>Landlord and tenant legislation</li>
<li>Subdivision legislation</li>
<li>Essential service regulations</li>
<li>Lease preparation</li>
<li>Local Government Act</li>
<li>Rights of property owners</li>
<li>Trade Practices Act</li>
<li>Anti-discrimination Act</li>
</ul>
4. Trust accounting
<ul>
<li>Acts governing real estate agency practice</li>
<li>Basic bookkeeping principles</li>
<li>Cashflow management</li>
<li>Budget forecasting</li>
</ul>
5. Various legislative requirements
<ul>
<li>Health and safety matters</li>
<li>Essential services</li>
<li>Town planning</li>
<li>Building Code of <country-region><place>Australia</place></country-region>
</li>
<li>Fire regulations</li>
</ul>
6. Building and construction
<ul>
<li>Property maintenance</li>
<li>Building methods</li>
<li>Cost control</li>
<li>Alternative materials</li>
<li>Design and decoration</li>
<li>Market requirements</li>
<li>Optimum layouts</li>
</ul>
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 target="_blank" title="Chris Lang's blog" href="https://his-best.biz/">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 a commercial property manager needs to know

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Will commercial property investors and businesses be starved of ready funds during 2012?
The banks seemed to be protesting about the increased cost of offshore borrowing and are using that as their excuse for not wanting to pass on any future RBA rate reductions in full.
But are they really telling you the whole truth?
Since 2008, the banks have reduced their dependence upon offshore funding by a third — now providing only 20% of their funding needs. In turn, they have raised (from 40% to 50%) their contribution from domestic deposits.
As such, their overall exposure to the European crisis has been significantly reduced. But what if things were to get worse? How would it look then?
During the early stages of the GFC, the Australian dollar fell as commodity prices collapsed.
But our dollar has now proven itself to be a safe haven — with foreign governments eagerly buying Australian 10-year bonds. This has driven yields down from 5.5% per annum early last year to where they currently sit, at around 3.8% per annum.
Unlike most Western countries, Australia still enjoys an envied AAA credit rating. And the Gillard government wants to ensure banking stability, along with a steady flow of funds throughout the system.
Therefore, if global conditions were to worsen or there were any suggestion of a funding shortage frustrating the banks, the government would undoubtedly extend its guarantee facility to them — as it did during the GFC.
That would have a twofold benefit:
The banks would then be able to borrow cheaply, backed by the AAA rating of the Australian government.
Plus any reduction in the cash rate by the RBA would immediately be passed on in full — given that the taxpayers would effectively underwrite the banks' wellbeing.
Bottom line: Because of Australia's rather unique economic position, it is well placed not only to survive any further global upheaval but actually emerge stronger as a result of it.
Therefore, as a commercial property investor, you need to grasp this window of opportunity and secure some well-let property now, ready to ride the underlying growth wave over the next five to six years.
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 target="_blank" title="Chris Lang's blog" href="https://his-best.biz/">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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A credit squeeze would not likely hurt commercial property investors

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During the last quarter of 2011 there was a definite improvement in the US economy — with consumer spending up and companies finally replenishing their inventories.
GDP increased by an annualised 3%, with improved sales for durable goods and new homes.
Petrol prices have been cheaper since mid-2011, and the US jobless rate was the lowest in nearly 3 years.
Therefore, with improved employment figures, consumers have felt more comfortable spending — which represents around 70% of US economic activity.
And despite the European turmoil, the German economy has remained resilient — also growing by 3% over the past 12 months.
What does this mean for Australian commercial property?
In Australia, offices remain the preferred asset class for performance during 2012, followed by retirement property.
However, retail property was expected to be a negative performer after decades of strong rental price.
In contrast, the Property Council of Australia/ANZ survey found:
The office and industrial markets are particularly well placed, as reflected by the positive net balance of capital growth expectations for the sectors.
According to Jones Lang LaSalle, during last year $US400 billion in direct commercial property deals were made worldwide — which reflected an increase of 25% on 2010.
Bottom line: Australia's share of those deals was $6.5 billion in office towers during last year — <a href="https://www.propertyobserver.com.au/commercial/offshore-investment-in-australian-commercial-property-at-20-year-high/2011122052916">with 28% of those purchases being made by overseas buyers</a>.
And this <a href="https://www.propertyobserver.com.au/commercial/office-and-industrial-sectors-to-lead-commercial-property-growth-in-2012-pca-anz-survey/2012011153019">trend is expected to continue strongly during 2012</a>, and beyond.
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://his-best.biz/" title="Chris Lang's blog" target="_blank">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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Improved global outlook helps Australian commercial property

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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