<html><body>
GUEST OBSERVATION
I am sure one priority for many of us is to increase your net wealth over the coming year.  
Over the holiday period I put some thought to what I believe makes a successful property investor.
In my role as an accountant and advisor I have consulted to thousands of property investors over the many years that I have been in practice. Some investors have been successful and others not so successful, but over this time I have observed what it is that makes a successful property investor tick, what it is that they do that enables them to stand out amongst the pack and what are the attributes that makes them so successful. 
Here then is what I have observed, seven habits of successful property investors. 
Habit one - They have the Right Mindset
Successful property investors understand that debt is a tool to help them leverage and build their asset base and as such, debt is not a bad thing if managed correctly.
They do not overcommit which means that their cash flows are never impacted if anything untoward was to occur. In other words, they are never put in a position to have to sell a property if something in their life goes wrong.  
They always have in place risk strategies such as insurances (income protection, life cover, landlords insurance) and they establish buffers with banks to protect their cash flows. They treat their property investment like a business and to them property investment is an active not a passive, investment.
Habit two - They get educated
Successful property investors are constantly reinvesting in themselves by attending seminars, reading property publications (like this one) and reading property websites. 
They make the effort to keep themselves up to date.  In fact it could be said that their hunger for quality property information gives them a competitive advantage and allows them to pounce when a suitable property opportunity arises.
Being better property educated is the difference that allows them to make their next investment decision with both accuracy and speed.
Habit three - They use Professionals
All the successful investors that I know use the professionals around them.  They use professionals just like a company would use a board of directors to provide them guidance and advice in each specialty field.
<ul>
<li>They understand that the accountant /financial advisor can assist with Income tax and structure establishments.  For example, whose name do I buy this property in?  What is my expected budget and cash flow? 
</li>
<li>They form great relationships with their broker/banker who will assist them with obtaining the best finance to purchase the property, and an ongoing ability to draw equity if required. 
</li>
<li>They build great relationships with their buyer's agent/real estate agent to assist them with purchasing the right investment property in the right area for the right price without any emotion. 
</li>
<li> They use their real estate agents to act as the go between the landlord and the tenant as well as look after the ongoing management of the property. 
</li>
<li>They use lawyers to assist with conveyancing and estate planning issues if required. 
</li>
<li>They work with an insurance broker to ensure that they are adequately covered in all areas especially mindful of insuring ongoing cash flow.</li>
</ul>
Habit four - They understand both Leverage, and Time In the Market concepts
Successful property investors understand that in order to increase their asset base they must borrow the money and manage the cash flow (the leverage). 
They do this without putting themselves under undue stress and they always have a buffer in place in the event of an emergency.
They know that purchasing property is a long-term investment and cyclic, they don’t panic if the market turns.  If they have selected the right property they know that time will heal all things and capital growth will occur over the long-term.
They understand that the return on property investment is not just the rental, but it is also the capital growth (invisible, but money in the bank) which helps them to focus on the bigger picture and not react by selling when faced with either, a bad tenant issue, or a short vacancy period or a slower market.
They know that if they have purchased correctly then the key is, time in the market.  In other words, the ability to spend more time in the market reduces the risk because of capital growth.  
However they also can recognise when they have bought a dud and can quickly sell to cut their losses if necessary, and move on.
Habit five - They Know the Market
Successful property investors do their research and seek external assistance before buying a property to ensure they invest in the right areas. 
They know what areas are the most likely to achieve growth within a state by city suburb and street, and what the demographics of particular cities, suburbs and streets within the suburb.
They often seek assistance from professional buyers agents to do their legwork and whom have all the statistics on hand regarding capital growth trends, overdevelopment, vacancy rates and rental yields potential future plans for the area, and will also take emotion away from an investment. For them, it’s a business decision plain and simple, and all about returns both capital and rental.
Habit six - They Understand the Effect of Tax and Cash-flow, Depreciation and Negative gearing
Although most successful property investors are not tax accountants, they leverage their accountant to manage this area but they do make it their business to understand how the taxation system assists their cash flow as they know this is critical to them, ‘cash flowing’ the next property.
They understand how negative gearing works and the significant positive impact that depreciation of their properties, buildings, fixtures and fittings, has on their cash flow,  which in turn may influence the style of property they invest in, (both old and new).
Habit seven - They Renovate for Profit
Because the successful property investors treat this as a business they are always looking at ways of maximising their return on investment, always.  
So, if they see an opportunity to increase their returns by investing in a renovation of a kitchen say, or a bathroom or something larger like by adding a bedroom or granny-flat, they will do this. They recognise that by investing an amount of money by renovating, then this could generate both instant capital value and an increased rental return.
Property investment is engrained into the D.N.A. of the Australian investor but not everyone is successful.  I have learnt over the years not to reinvent the wheel but to watch and learn from successful investors and then just copy their actions, the seven habits, and implement the same.  By following these steps you are increasing your chances of being successful.  
Happy successful investing in 2015.
David Naylor is non-executive director and co-founder of <a href="https://www.chan-naylor.com.au/" target="_blank">Chan &amp; Naylor</a>.
</body></html>

dnaylor-vq8r8EznXA

The seven habits of successful property investors: David Naylor

<html><body>
GUEST OBSERVATION
We are noticing that there has been a marked increase in audit activity by the ATO over recent time.  
Everyone dreads the thought of an ATO audit but it doesn’t have to be that stressful, especially if you know how to handle the situation. 
Firstly if you do get that dreaded ‘knock on the door’, immediately contact your accountant and ask for their professional guidance and assistance.  This may incur a cost, but for peace of mind it is money well spent. 
Your accountant will act as your agent and will have direct contact with the ATO.  They can understand and speak tax office lingo and know how to answer their questions without raising further questions, plus will hold your hand throughout the process so that you may never have to get involved, other than providing them with any initial and/or ongoing information. 
<h3>Any ATO audit can typically be broken down into seven basic stages:</h3>
<ol start="1">
<li>Initiation</li>
<li>Information gathering</li>
<li>The issue of a facts/position paper</li>
<li>The taxpayer’s response</li>
<li>The issue of assessments</li>
<li>Objections and</li>
<li>Settlements and alternative dispute resolution</li>
</ol>
<h3>There are 2 types of ATO investigations:</h3>
<ul>
<li>Review </li>
</ul>
The ATO use reviews to investigate inconsistencies or risks about some activities, transactions or industries and try to confirm the risks. During a review they look for ways to help you comply with tax obligations. They will give you the opportunity to correct any errors by making a voluntary disclosure. If you do not make a voluntary disclosure, they may decide to escalate the review to an audit.
<ul>
<li>Audits</li>
</ul>
The ATO use audits to find, measure and correct errors. Some audits follow on from reviews where they confirmed there was a risk.
Some audits will commence without first doing a review where, from the available information, they know there is a risk. If an audit commences without a review first happening, generally you will be given an opportunity to make a voluntary disclosure.
<h3>Complexity</h3>
The reviews or audits the ATO conduct vary in their complexity. Usually they only involve a phone call or a letter asking you or your accountant to provide further information or verify your claims.
In some cases however, a tax officer may visit you (although this is rare), or you may be asked to bring all your records for examination. They sometimes may decide to look more closely at tax returns making similar claims, or from within the same industry. 
<h3>Property Investors</h3>
Property investors always seem to be a target as there are usually large claims in the individual’s tax returns.  T
he areas that generally let property investors down in an audit are, claiming costs for a capital improvement as a repair and maintenance.  For example the cost of replacing an old kitchen with a new kitchen is a capital expense and should be depreciated over time v written off against the income immediately. 
Other areas are, incorrect claims of  the interest on borrowings, and inaccurate capital gains disclosures on the sale of a property.
When the ATO come knocking this is what they are looking for
1.            That you have declared all the income you have received
2.            That you have claimed the appropriate deductions against this income
3.            That you have claimed the correct credits or offsets
4.            That you have correctly withheld and reported PAYG amounts
5.            That you have correctly reported any other tax-related obligations
<h3>Audit Insurance</h3>
As a safety net, audit insurance is something worth considering.  For a very small annual premium you can have peace of mind in that if you are selected for a review or audit, and depending on the policy, the majority of your professional fees you pay to the accountant to assist you with the process, will be covered. 
David Naylor is non-executive chairman and co founder of <a href="https://www.chan-naylor.com.au/" target="_blank">Chan &amp; Naylor</a>.
Disclaimer: This article contains general information. Before you make any financial or investment decision you should seek professional advice to take into account your individual objectives, financial situation and individual needs.
</body></html>

Don't fear the taxman: What to do if you are audited

<html><body>
GUEST OBSERVATION
I personally invest across all asset classes, property, shares and cash and I was interested in finding out how my property investments stacked up compared to other investments in my portfolio over the long-term.
So with that in mind I thought I would undertake some research into the performance of the two major investments in my portfolio, property and shares, and which is the better asset class to invest in. 
This is an age old question and the answer will depend on who you talk to. However, I wanted to strip the debate right back and look at recent data. As they say in the classics “you can’t argue with the facts”.  So, here is what I discovered.
According to statistics and the reputable Russell Investments/ASX Long-term Investing Report 2014, the past 10 years may have been a great time to invest in the equity market, but residential property delivered better, more steady returns over the longer run.
The report concludes comparing the total returns - after fees, and including rental and dividend incomes over the past 10 years up to the end of 2013, that Australian shares unsurprisingly led at 9.2% even after the crash associated with the global financial crisis.  It was closely followed by hedged global shares which delivered an 8.2% return. Investment property lagged behind at 6.1%, comparable to fixed interest over the same period.  
But the results over the past 20 years look quite different.  An investment in residential property returned a 9.9% gain, beating both Australian shares at 8.7% and global shares at 8.0%.  In addition, over the past 20 years residential property delivered steady rental returns compared to the erratic equity market.
However, the report also shows that the dominance of property over shares in the 20-year period becomes reduced after the tax benefits of the fully-franked dividends provided by Australian listed companies are factored in.  At the top marginal tax rate, property delivered a 7.5% return over the past 20 years, only just ahead of a 6.9% return for shares.
So now I sit back and look at the numbers provided by economists and then equate this back to my personal situation.  Have I achieved the sort of growth quoted by the reports? 
Firstly, returns vary from property to property and for me have not been as consistent as quoted within the report.  Yes rental returns have been consistent, with very little no vacancy periods and consistent CPI increases.  
Some of my properties have performed well and above the returns quoted and others below, however the same could be said about the shares.  The performance of individual assets, are probably more of a function of location and selection of the particular property or share investment, more than the Investment class itself. 
So, for me yes the returns are important but there are other reasons why I see property as a strong investment.
<ol start="1">
<li>As the report states, property delivers steady rental returns due to low vacancy rates and low supply, we are simply not building enough properties quickly enough in areas where people want to live to accommodate the growing population. 
</li>
<li>Lenders see property as a solid security and will lend up to 80% (in some cases more) of the asset at historically low rates, and even though my shares are more liquid it is more complex to borrow against them.  However the ability to access equity in property (without selling) is quite simple, as property lending is mainstream for banks that are aggressively competing for market share. 
</li>
<li>The tangible ‘see, touch and feel factor’ of property provides me with comfort and gives me control. 
</li>
<li>The ATO allows me to claim the tax benefits of depreciation on the building and various inclusions over a number of years, although some conditions do apply.  In other words on top of the rent I receive, the tax office is assisting my cash flow by allowing me to claim depreciation on the capital outlay. You cannot depreciate a share!</li>
</ol>
My conclusion is that both asset classes are an important part of my portfolio but the key is in the selection process. Seek professional help when it comes time to making your choice. 
For property I would recommend you speak to a registered buyer's agent and with shares a licenced financial planner. Assuming I have purchased the property well, specifically in the right location, taking into account the points 1-4 above and the economists research (numbers don’t lie), then I feel very confident that over the longer term my property portfolio will grow and is a good and solid investment.
David Naylor is non executive chairman and co founder of <a href="https://www.chan-naylor.com.au/" target="_blank">Chan &amp; Naylor</a>.
</body></html>

Property v shares: Which is the best assest class to invest in?

<html><body>
GUEST OBSERVATION
I want to share with you seven relatively easy ways to achieve your financial goals with very little personal effort. As I incorporated more and more of these small tips into my daily life, the savings started to add up and saved me thousands over the course of a year
Investors are constantly looking at ways of building wealth and accumulating assets with their focus is driven by working harder to generate more money to then invest in either, property, shares or cash. Therefore the majority of our focus is (rightly so) on our balance sheet and we pay less attention to our profit and loss. I focus on both which has helped me to build equity and wealth more quickly. At the end of the day the result is about net worth, the gap between the gross value of my assets and any debt owing.
Most Australians have debt, so let me explain some very simple strategies that have worked for me and has helped me accelerate my wealth without costing a penny. A reminder that this is of a general nature and for specific advice you should seek professional advice.
<ol start="1">
<li>I prepared a personal family budget and paid attention to the detail, I was surprised how quickly I was spending money because I was not paying attention.  I also found out that Australia is an expensive country to live in. I put pen to paper to work out where my income was coming and what were my weekly and monthly expenses, basically what it cost me to live. It then allowed me to look at excessive spending and what areas could be cut back or reduced and allowed me to work out what I could put aside as if it was ‘OUT OF BOUNDS’ from a spending point of view. I sit down on a regular basis to review this and opened a separate Account to place these excess funds out of harms way and I watched the balance grow. 
</li>
<li>I contacted various Banks and asked for a discount on my current mortgage rates. I armed myself with competitors rates and used that as leverage and the threat of moving.  Believe me, one five minute phone call saved me thousands. I have done it successfully on numerous occasions. 
</li>
<li>Commentators use the term good debt (being debt that is tax deductible for example i.e. interest paid on an investment property loan) and bad debt (debt that the interest is not tax deductible i.e. your home Loan). I focused on reducing the bad debt that is not deductible, i.e. my personal home loan, credit card or car and make sure my investment loans are interest only facilities. This will still increase my overall equity but the tax benefits will help me improve my cash flow which in turn will allow me to either invest further or access the increased equity in later life. 
</li>
<li>I pay my mortgages on a weekly or fortnightly basis, after all the banks calculate interest daily! Who made the rules that you have to pay monthly? I contacted my bank and requested that I pay the repayments on a more regular basis…once again one phone call and its done and saved me thousands in interest over a loan period. 
</li>
<li>
I use my credit card sensibly and use and manage the credit terms on offer versus borrowing. For example if my credit card cycle is the 20th of the month I defer payments till the 21st if possible which will gives me potentially up to 50 days before actual payment is due all interest free. Not bad trading terms. 
</li>
<li>I created an offset account so that any surplus funds are offset against my mortgage to reduce and save the interest. 
</li>
<li>I have shares and investment properties that are negatively geared so I arrange a pay as you go variation at the beginning of each year, this basically means that rather than wait till the end of the year to get a tax refund my weekly, fortnightly or monthly pay-packet are automatically increased by the refund amount. I can now use this extra cash to pay off the home loan or add to my investment portfolio.</li>
</ol>
These are simple but effective strategies that have been effective for me by increasing my cash flow which in turn, helps me to reduce my debts and add to my asset portfolio.  These small changes have resulted in significant savings.
David Naylor is co-founder and non-executive director of <a href="https://www.chan-naylor.com.au/" target="_blank">Chan &amp; Naylor</a>.
</body></html>

Seven easy ways to achieve your financial goals

<html><body>
Approximately 83% of Australians over the age of 60 are on some form of age pension, and this means only 17% have accumulated enough wealth over their lifetime to be self-funded. Whether you are building your nest egg via property, shares or through your business, planning is critical. There is an old saying “measure twice, cut once”. What this actually means in simple terms is that the more time you invest in planning, the fewer problems you’re likely to have with a higher likelihood of a successful outcome. 
Think of it this way: if you were going to build a house, you wouldn’t simply buy a block of land and ask the builder to start laying bricks. You would first engage an architect and sit down to put your vision onto paper to create the house you have dreamed of.  The same applies to your investing and business, so you must start with the end result in mind. 
It is simply impossible to work towards a profitable future if you don’t know where you’re going, and the fact is, the more time you spend on planning, the less time you spend on doing. 
As we were going through the process of creating a property portfolio and building a business we decided that we needed to sit down and work out exactly what we wanted to achieve. After all, let’s face it, how can you possibly know what you want to build if you don’t have a vision and plans to build it? 
Firstly, we had to work out what we (individually) wanted out of the business and our investments. We sat down and wrote a list of the things that we each hoped to personally achieve with the business and our investment portfolio, and we were surprised to discover that our answers were very similar:
 
<ol start="1">
<li>Generate a passive income stream well into our retirement</li>
<li>Restore balance in our lives</li>
<li>Choice – the ability to choose whether we work or not, without our income stopping when we stop working</li>
<li>To help others through our succes </li>
</ol>
 
Do you have a roadmap for the future of your business or investments? In his book The 7 Habits Of Highly Effective People, Dr Stephen R Covey says that “you don’t plan to fail, you simply fail to plan”. Planning helps us to focus on the ’important, but not urgent’ things that we need to attend to. It helps to anticipate and prepare for change. Think of your plan as if it’s your blueprint for change in every aspect of your business and investing life. One of our goals was to create a business that we, as the owners, did not have to work in for 100+ hours each week, as we were doing at the time. So we started delegating work to the team. This gave us more time to work on our business.
Next, we identified the key things that we needed to do in order to achieve our goals and this became our business plan, which we like to call our ‘action plan’.
This document helped us to stay focused on the critical stages of transformation in our business, and ensured that our key activities were identified and implemented in a logical and practical way.
 
Your business and financial plan will help you do three things:
<ol start="1">
<li>It will clarify your vision and goals regarding what you want your business and investment portfolio to look like in the future.</li>
<li>It will identify where your business and investment portfolio is currently placed.</li>
<li>It will determine what work you need to do to close the gap.</li>
</ol>
It is point number three – knowing what work you need to do to close the gap – that forms the basis of your action plan.
It’s important to remember that you may come up with hundreds of ideas and strategies regarding things that need to be done, but they can’t all be implemented at the same time. In fact, this is one of the reasons why many businesses and investors fail to transform themselves, because there are just too many changes and decisions to make and people become overwhelmed and do nothing – or they try to do everything at once.
David Naylor is acting CEO of <a target="_blank" href="https://www.chan-naylor.com.au/">Chan &amp; Naylor</a>
This information has been prepared as a general guideline, and is not intended to be an exhaustive or a complete analysis of the topics in question or issues raised in this article.
 
 
 
 
</body></html>

You must make a detailed plan to be financially secure upon retirement

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."

[smartcode_project:default project_id=135096 project_image_fid=356829]

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.

[smartcode_project:default project_id=135096 project_image_fid=351102]

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.

[smartcode_project:default project_id=5743 project_image_fid=925]

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>.

David Naylor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News