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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

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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

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."

[smartcode_project:default project_id=135096 project_image_fid=351104]

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."

[smartcode_project:default project_id=5743 project_image_fid=5374]

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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