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GUEST OBSERVER
End of financial year has arrived. But for property investors, tax time isn’t just about deductions and depreciation schedules – it’s also a great time to re-evaluate your investment property and ensure you are in good standing for the next financial year. 
Investors should ask themselves the following five ‘hard questions’ this month if they want their property to remain competitive - and occupied - in the current rental market. 
<ul>
<li>Are the tenants right? </li>
</ul>
Most rental agreements wind up after twelve months, which means it’s a good time to assess whether the tenants are right for your property. Ask yourself, do they pay their rent on time and take care of the property? Or is your property manager regularly chasing payments? If you answer yes to the latter, then it might be time to find new occupants. Ultimately, discuss with your property manager if they think the tenants are suitable – they see plenty of properties and tenants each day and can advise you if your tenants are right. 
<ul>
<li>Is it time to review the rent? </li>
</ul>
The new financial year is also a great time to assess whether the weekly rent is on par and if it’s providing you with the right returns. Not all rental agreements come to an end in July – but it doesn’t mean you can’t start planning and reviewing the market. 
Often in a competitive market place, it’s acceptable for landlords to increase the asking rent to match rises in inflation. Similarly, if an area has become more desirable with the introduction of new infrastructure or amenities (such as a nearby university or improved public transport), then it’s ok to determine with your property manager a reasonable rental increase. 
On the other hand, when the real estate market is booming, the rental market often falls flat as residents decide to purchase a property for themselves. During this time, to ensure that your property is competitive and doesn’t become vacant, it might be worth keeping the rent on hold until the next financial year when it’s time to review again. 
<ul>
<li>Are you covered? </li>
</ul>
Landlord insurance is a must for any property investor. After all, you need to protect your assets in case your tenant does something that seriously damages your property. However, in the hustle and bustle of tax time, many people forget about renewing their landlord insurance. So make sure you or your property manager ticks this box come the new financial year. 
<ul>
<li>Is it time to do some handy-work?</li>
</ul>
Many investors purchase a property with the hope to renovate down the track when further finances become available. The next thing you know, one year becomes five and you haven’t even picked up a hammer and nail. 
Renovating your property can provide excellent rewards on your investment. In the short term, an improved property can enhance the appeal for renters, while long term a little bit of handy-work can result in greater capital growth for when you decide to sell down the track.
If you analyse your finances at EOFY and don’t have the budget to conduct a full blown renovation, remember that a little bit of handy work such as a quick coat of paint can go a long way. Doing small jobs over a long period of time can ease the hip pocket and also get your home up to scratch. And your current tenants will appreciate your efforts in preserving the property. 
<ul>
<li>Should you refinance? </li>
</ul>
For those who have had held their current home loan for several years, it’s likely that your lifestyle and financial situation have changed - so it could be worthwhile refinancing your property. 
Every investor should consider refinancing to find themselves a better deal. For instance, you may find a lower interest rate or a loan which offers additional features (such as redraw or account splitting), or perhaps you’d like to use this equity to renovate the home. Refinancing may also offer potential tax benefits if you can access equity to invest in further properties for your portfolio. Regardless of the reason, speak to your financial advisor who can provide the best advice if this is an option for you. 
It’s no easy feat being a property investor. While you can call on the advice and services of property managers, financial advisors and legal advisors, ultimately these hard questions will come down to you. Take the time each financial year to reassess your investments and you’ll be in a strong position to maximise your short and long term returns. 
Frank Valentic is the founder of Advantage Property Consulting, an independent Buyers’ Agency spanning Buyers’ and Vendors’ Advocacy, Property Management and Owners Corporation services. Frank is also a Buyers’ Advocate Judge on “The Block” TV Show. He can be contacted <a href="https://advantageproperty.com.au/about/team/frank-valentic" target="_blank">here</a>.
 
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Hard questions every investor should ask come the new financial year: Frank Valentic

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GUEST OBSERVATION
Last night’s final of The Block Triple Threat saw all the contestants leave with big smiles, walking away with an average of $800,000 each.
For the fan favourites Dea and Darren who took home the big money -- $945,000 in total and setting a record for the highest earnings of any series of The Block – the result was bitter sweet, a stark contrast to their $10,000 prize money in last year’s Glasshouse series.
But what set this year apart from last year’s below par results on The Glasshouse?
No doubt location contributed to Triple Threat’s success. South Yarra is currently a hot market, with clearance rates sitting around 75% and prices growing by 8 per cent just last quarter alone. The area attracts young professionals, families and downsizers who value the amenities and abundance of cafes and restaurants. Not to mention, the proximity to the city and public transport options.
The uniqueness of the property type, essentially a spacious townhouse with high quality fixtures, was also a draw card for buyers. Having bought and sold in Melbourne’s southern suburbs for over 15 years, I can tell you the number of luxury townhouses in the area are far and few between. In this day and age where people lead busy lives, buyers are increasingly after the ‘lock and leave’, low-maintenance living that comes with a townhouse - without having to compromise on space and storage. The townhouse offer all of these things.
The inclusion of a Buyer’s Agent Jury played a crucial role too. In fact, myself and fellow Buyer’s Advocate Judge, Nicole Jacobs purchased three of the four apartments last night, bidding on all four properties. More importantly, we offered ongoing advice throughout the season to the contestants, sharing with them our market knowledge. 
The spotlight will be shining on Dea and Darren today, who no doubt deserve their win with their beautiful open plan apartment, which had the buyer in mind from start to finish. Josh and Charlotte, who narrowly came second by only $15,000, should also be commended for their fantastic upstairs bedroom which Shayna famously adored.
But the underdogs deserve credit too. As the successful bidder on Jess and Ayden’s apartment, my client walked away with the best value purchase. Purchased at $2 million, this property was a steal for the night with a well-designed kitchen, inclusion of the free Suzuki Swift and five years free contents insurance. This property will provide really good returns in the long run.
The Block is done and dusted for this season, but for the new homeowners of The Block Triple Threat, a new chapter has just begun.
The final results:
<ul>
<li>FIRST PLACE: Darren and Dea (Apartment 4)</li>
</ul>
Reserve – $1,455,000
Opening bid - $1,900,000
Sale price - $2,290,000
Winnings - $835,000 + $100,000 winning prize money = $935,000
<ul>
<li>SECOND PLACE: Josh and Charlotte (Apartment 1)</li>
</ul>
Reserve – $1,390,000
Opening bid - $1,900,000
Sale price - $2,200,000
Winnings - $810,000
<ul>
<li>THIRD PLACE: Tim and Anastasia (Apartment 2)</li>
</ul>
Reserve – $1,420,000
Opening bid – $1,560,000
Sale price – $2,175,000
Winnings – $775,000
<ul>
<li>FOURTH PLACE: Jess and Ayden (Apartment 3)</li>
</ul>
Reserve – $1,335,000
Opening bid – $1,700,000
Sale price – $2,000,000
Winnings - $665,000
Frank Valentic is the founder of independent buyer’s advocacy service <a href="https://advantageproperty.com.au/" target="_blank">Advantage Property Consulting</a>. 
Over its 15 years of operation, Advantage has expanded its service offerings to include Property Management, Vendor’s Advocacy, Group Block Purchases and Owner’s Corporation services, having bought and sold for over 3000 clients.
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Buyer's agents buy big at The Block Triple Threat finale: Frank Valentic

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guest observation
Interest rate cuts will undeniably have a positive impact on consumer sentiment, especially for lower segments of the market such as first home buyers and investors who typically purchase properties under $500,000.
Suggestions of more cuts on the horizon will keep the market positive for 2015.
Competition for properties is always strong at the start of the year given limited supply over the summer, but competition should pick up even more with most banks passing on the rates.
The impact should trickle into the marketplace within the next couple of weeks, and it will be interesting to see the results at the end of February - when there are over 1,000 auctions scheduled in the Melbourne market.
Investors should keep in mind though that if first home buyers make the jump, the rental market may be impacted.
This makes it imperative for investors to do their research and investigate areas and property types in locations where rental yields are high and vacancy rates are low.
FRANK VALENTIC is managing director of award-winning buyers' agency <a href="https://www.advantageproperty.com.au/" target="_blank" rel="nofollow">Advantage Property Consulting.</a>
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With more rate cuts a possibility, the market will stay positive: Frank Valentic

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Guest observation
The aftermath of bidding on our fifth Melbourne series of The Block has been busy and we can’t believe how much interest the auction finale generated.
It was the most watched reality TV program for 2014 with around $2.8 million viewers.
The Block auctions in 2014 are now over and we congratulate all the contestants on their great renovating efforts and feel disappointed for the three contestants who weren’t rewarded for their efforts.  
This year’s Glasshouse contestants earned a total of $805,000 in total, or $163,000 each on average.
The profits (including the winning $100,000 prize):
<ol>
<li>Simon and Shannon: $435,000</li>
<li>Chris and Jenna: $310,000</li>
<li>Maxine and Karstan: $40,000</li>
<li>Michael and Carlene: $10,000</li>
<li>Deanne and Darren: $10,000</li>
</ol>
Last season's winners earned much more, with the total combined profit of $2,426,000, working out to be an average of $606,625 each.
The Block Fans v Faves profits (including the winning $100,000 prize):
<ol>
<li>Chantelle and Steve: $736,000</li>
<li>Lysandra and Alisa: $616,000</li>
<li>Kyle and Kara: $567,250</li>
<li>Dale and Brad: $507,750</li>
</ol>
The previous series' Sky High contestants earned a total of $1,383,000 (an average of $276,600 each).
The Sky High profits (including the winning $100,000 prize):
<ol>
<li>Alisa and Lysandra: $395,000</li>
<li>Madi and Jarrod: $291,000</li>
<li>Matt and Kim: $250,000</li>
<li>Bec and George: $242,000</li>
<li>Trixie and Johnno: $205,000</li>
</ol>
You would also be disappointed if you were the Cameron Street Richmond contestants, who in 2011 won much less, with total winnings of only $225,000. 
Fortunately there was better buying this series, with gross rental returns of around 5%.
Myself and many other real estate professionals believed that the properties would sell in the vicinity of $1.5 to $2.0 million, which was what similar luxury apartments were selling for within a one kilometre radius.
We were bidding for an investor for Jemma and Chris’ apartment (pictured below) with a budget of $1.5 million, but unfortunately we were one of four bidders and it sold to another buyer's agent who was representing a local  investor for $1,810,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/09/23/2.jpg" alt="">
It ended up being a two horse race, with a young Chinese couple bidding, and after it was declared on the market, there were another thirty one $10,000 bids and the property sold for $310,000 above reserve. 
Simon and Shannon’s apartment was our first choice for an i<a href="/expert-insights/buying/the-buyer-behind-the-winning-block-glasshouse-auction">nvestor who had missed out</a> on a number of properties in the Albert Park series. Many buyers rated the boys’ apartment (pictured below) as the best and as we had overheard other buyers talking budgets of $2 million regarding bidding for this property. 
<img src="https://www.urban.com.au/images/2014/09/23/4jpg" alt="">
We quickly increased the bidding from an opening bid of $1.5 million by another buyer's agent to a $1.7 million bid, as we knew the Chinese couple representing their parents from overseas had already bid to $1.8 million on the last property.
We had seen them have plenty of time to increase in increments of $10,000 in the last auction and they subsequently pushed the price upwards by another $310,000.  
So we tried two quick fire $50,000 knock out bids and we secured the property for $1.9 million which was well under our client’s maximum budget. 
Shannon and Simon’s apartment was definitely what my buyers had indicated they were looking for and I’m very pleased for my client.  
The boys and their builder did do a wonderful job and were deserving overall winners of the show.
We had an investor client who was a local business owner who was keen to snag a bargain (around the $1.6 million mark) for the next auction but we only got one bid in with the Chinese buyers buying Maxine and Karsten’s property to $1,710,000, just $40,000 above the reserve.
This was a lot lower than everyone expected and I personally rated theirs as the best apartment (pictured below), with its north facing sunny orientation and bonus of a potential fourth bedroom.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/09/23/3.jpg" alt="">
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
The next auction was Darren and Dee’s apartment which none of our buyers rated due to its smaller size, especially in the living area (pictured below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/09/23/5.jpg" alt="">
There were only a few bidders and it sold for $1,390,000, only $10,000 above reserve. The building of an extension next door wouldn’t have helped as you are now looking out onto a brick wall from your living area.
The last auction was Michael and Carlene’s apartment, which again wasn’t rated highly by our buyers because it was dark and south facing (pictured below). There were only a few bidders and it sold for $1,390,000, only $10,000 above reserve.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/09/23/1.jpg" alt="">
The eerie feeling after the last three auctions was similar to the feeling after three out of four houses in Cameron St, Richmond passed in at the Fitzroy Town Hall.
Everyone felt the three contestants’ pain after all the hard work they had put in.
Some interesting point to consider from this year’s auctions on The Block:
<ol>
<li>The properties sold for a total of $8.10 million which was an average of around $7,700 per square metre of building at an average of around 207 square metres of internal living area. There were some good buys as the bigger “The Art” development across the road with fifty apartments sold for around $9,000 per square metre. Valuer Greville Pabst predicted they would sell for an average of $2,480,000 each or $12,000 per square metre. There were also five properties on offer instead of the usual offering of four in previous series which meant buyers had more choice and were spread over more properties. 
</li>
<li>The main road location attracted less buyers than last year’s prime Albert Park location where the properties sold for around $14,100 per square metre of building at an average of around 170 square metres of internal living area.   Half of the buyers last year were home buyers that buy with emotion, whereas all five buyers this year were investors, although my client may move into the property in the future. 
</li>
<li>The growing presence of the overseas Chinese buyer was seen at the first three auctions, where a young couple were bidding for their Chinese parents overseas. Once they had bought at the third property auctioned, the last few properties, which were seen by buyers as less desirable, sold for less.  There were also a number of overseas Chinese investors bidding on the Albert Park apartments, showing their growing presence. 
</li>
<li>Television again didn’t really do justice to the amount of capital that was invested in the internal renovations with a building permit for $600,000 for structural works in the contract as well as all the fittings and fixture renovations and all furniture and furnishings. The massive warehouse style ceilings gave the apartments a real wow factor. They also all had the bonus of an oversized double lock up garage (around 60 square metres in size) and a 70 square metre storage room that was bigger than most 2 bedroom apartments.  The Block producers also invested much capital into the common areas, including a tropical courtyard area.</li>
</ol>
In summary, our fifth auction experience on The Block was another exciting action-packed night. Our other two investor clients were disappointed to miss out on some good buys, although they understand how important it is to stick to their set budgets. 
The TV show continues to have a successful formula and attracted great support from viewers. 
My family and I enjoyed watching the series again and enjoyed being a part of the experience again and this showed again how unpredictable any property market can be.  
The great Australian dream of owning a beautiful home continues to appeal to viewers and this year resulted in great viewing results for Channel 9 and some good results for the successful purchasers.
We look forward to hopefully being involved in our sixth Block series with the apartment conversions at 27 Darling St, South Yarra which they have already started working on.
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A buyers agent's view: Behind the scenes of The Block Glasshouse

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GUEST OBSERVATION
<ol>
<li>
Buying new or off the plan properties Many investors make the mistake of chasing depreciation benefits offered to new properties or stamp duty savings that are available in certain states when buying off the plan. Many forget about the cardinal rule in real estate investing: buying well and buying property at or below what it’s worth. Most new properties are priced according to developer’s profit margin percentages and attract GST, which is paid by the developer and generally loaded into the purchase price. Often properties are overpriced and have limited capital growth as they are competing with newer apartments that are built every year. 
</li>
<li>
Buying properties that banks don’t like If the banks don’t like lending against certain properties, it is usually for a very good reason. Banks won’t want to risk their money and exposure as they might not lend against certain properties such as country/regional/mining town properties or only lend on lower <a href="/expert-insights/finance/what-is-an-lvr-investment-terms-explained">loan to value ratios</a> (LVRs of only 70%) for commercial properties which they see as harder to tenant or resell. Some properties that banks don’t like include high rise apartments in the CBD and surrounds, stratum title or company share properties, small apartments including studios and student accommodation, defence housing and serviced apartments. 
</li>
<li>
Buying property overseas or interstate Many investors make the mistake of buying properties overseas or interstate without really knowing those markets and doing their due diligence properly. They are often attracted to the cheaper entry level prices that these offer but they make the mistake of comparing prices in areas they know versus areas they don’t know. Many Australian investors have purchased property in America, having been attracted to low price tags of $100,000 promised rental returns of 10% per annum. One should ask the question - if the properties were so cheap, why aren’t the locals in America buying them all? Our advice is to do your due diligence and study comparable sales in one or a few areas so that you can purchase the right investment property at the right price. 
</li>
<li>
Buying non-investment grade quality properties A good investment grade quality property has a number of common fundamentals that set it apart from poor investment properties that miss a number of common fundamentals including being in a quiet but convenient location, car parking, street appeal, aspect or view and sunny orientation. Many investors make the mistake of buying a property that is cheap and are lured by a lower price but the problem is that this property will always be cheap and be limited in terms of capital growth prospects and future resale prospects because it doesn’t have key attributes such as an outdoor area or the appropriate floor plan or it is on a major highway. Investors should pay a bit more and get the “right” investment property, not the cheapest one. 
</li>
<li>
Procrastinating and waiting for the “Perfect” investment Many investors procrastinate as they talk themselves out of buying an investment property because they are scared of increasing their debt position and getting into further debt, even though buying the “right” investment property is getting into “good debt” not bad debt items that depreciate in value such as new cars, boats, and plasma televisions. There are not many perfect investment properties that can be rated 10/10 as most properties have some pros and some cons. Investors should definitely do their due diligence before purchasing but should not over analyse or become emotionally involved when buying an investment property.
</li>
</ol>
FRANK VALENTIC is managing director of award-winning buyers' agency <a href="https://www.advantageproperty.com.au/" target="_blank" rel="nofollow">Advantage Property Consulting.</a>
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The five mistakes every first time property investor should avoid

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GUEST OBSERVATION
Everyone wants to buy in a “hotspot” area that becomes trendy and popular in the near future and allows investors to take advantage of some good capital growth over a shorter time period.
Here are 10 of Melbourne’s suburbs that we believe have the potential to give investors good returns in the coming years.
Click on the suburbs names to find the latest property data, mapping tools and demographic information, from RP Data.
<ul>
<li><a href="/news">Reservoir</a></li>
</ul>
Reservoir is located 12 kilometres north of the CBD. Bounded by the Merri Creek in the west, and the Darebin Creek in the east, Reservoir is a mixed use suburb in Melbourne's north.
The suburb has significant industrial areas in the west and a commercial focus around the railways station and along Broadway.
Reservoir is well represented by the Italian population and also features the Reservoir Private Hospital and Edwardes Lake Park.
<ul>
<li><a href="/news">Frankston</a></li>
</ul>
Frankston is located 41 kilometres south of the CBD.
Frankston is the major commercial; retail, educational and transport centre in Melbourne's outer south, servicing a large hinterland including the Mornington Peninsula.
The major commercial area is located between Nepean Highway and the railway station, although Karingal Hub Shopping Centre is located in the east of the suburb. Frankston also features Monash University Peninsula Campus, the Peninsula Institute of TAFE and Frankston Hospital as well as a number of golf courses.
<ul>
<li><a href="/news">Footscray</a></li>
</ul>
Footscray is located 6 kilometres west of the CBD. Located in the inner west of Melbourne, Footscray is a multicultural community with a significant Vietnamese population.
The suburb has a combination of residential, industrial and commercial land, with retail activity centred on Barkly Street and industrial activity in the east and north. Footscray also features the Whitten Oval, the Victorian University of Technology, a major rail junction for the St Albans and Werribee Railway lines, the Western Hospital - Footscray Campus and Footscray Park.
<ul>
<li><a href="/news">Preston</a></li>
</ul>
Preston is located 9 kilometres north-east of the CBD. Bounded by the Merri Creek in the west, and the Darebin Creek in the east, Preston is a mixed use suburb in Melbourne's north.
The suburb features a significant commercial district along High Street, while the eastern regions feature a significant amount of light industry. It is also a multicultural suburb, with large Greek and Italian communities. Preston also features Northland Shopping Centre and the Northern Melbourne Institute of TAFE - Preston Campus.
<ul>
<li><a href="/news">Sunshine</a></li>
</ul>
Sunshine is located 12 kilometres west of the CBD. Sunshine is the major commercial, industrial and transport centre for the middle and outer western suburbs of Melbourne.
It is a highly multicultural suburb, comprising a significant Vietnamese community. Although there has been a decrease in manufacturing employment since the early 1980s, it still provides a quarter of all jobs for Sunshine's workforce.
Sunshine is the railway junction for the Ballarat and St Albans railway lines and features the Footscray TAFE - Sunshine Campus and the Sunshine Centre Plaza.
Five more of Frank Valentic's Melbourne hostpots on the next page. Please click below.
<hr class="system-pagebreak">
<ul>
<li><a href="/news">Kingsville</a></li>
</ul>
Kingsville is located 8 kilometers west of the CBD.
Kingsville is a small residential area located in Melbourne's western suburbs. It is multiculturally diverse, well represented by people from the countries of the former Yugoslavia and Vietnam.
Kingsville's labour force is concentrated in the manufacturing sector, providing a significant labour base to adjacent industrial suburbs. The suburb also features commercial areas along its boundaries.
<ul>
<li><a href="/news">Thornbury</a></li>
</ul>
Thornbury is located 7 kilometres north-east of the CBD. Located between the Merri Creek in the west and the Darebin Creek in the east, Thornbury is a residential suburb, with significant areas of commercial activity, especially along High Street.
It is a multicultural community, with the Italian, Greek and Chinese communities being well represented.
Thornbury also features many areas of open space, including the Hayes, Mayer, Penders and John Cain Memorial Parks and the Sir Douglas Nicholls Reserve.
<ul>
<li><a href="/news">Brunswick West</a></li>
</ul>
Brunswick West is located 6 kilometres north of the CBD. Bounded by the Moonee Ponds Creek in the west and Moreland Road in the north, Brunswick West is a primarily residential suburb.
The suburb is densely populated,featuring a young population, most notably 25-34 year olds.
Brunswick West also features a number of reserves and recreational areas, such as the Dunstan, the Denzil Don, Hudson, Shiels and Wylie Reserves.
<ul>
<li><a href="/news">Glen Huntly</a></li>
</ul>
Glen Huntly is located 12 kilometres south-east of the CBD. Bounded by Neernim Road in the south and Grange Road in the west, it is a small, primarily residential suburb in Melbourne's south-east. The suburb's retail activity is concentrated around the railway station. 
Glen Huntly also features parkland including Garden Avenue Reserve. The suburb's population includes a large number of renters and small households.
<ul>
<li><a href="/news">Mornington</a></li>
</ul>
Mornington is located 47 kilometres south of the CBD. Mornington is one of the larger commercial centres on the Mornington Peninsula to Melbourne's south.
This bayside suburb is traditionally a popular retirement area and has a number of aged care facilities.
Mornington also has a large number of families living in the area, especially in the new residential subdivisions on the eastern side of the Nepean Highway. The suburb features the Mornington Racecourse and the Mornington Country Golf Club.
FRANK VALENTIC is managing director of award-winning buyers' agency <a href="https://www.advantageproperty.com.au/" target="_blank" rel="nofollow">Advantage Property Consulting.</a>
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The top 10 Melbourne hotspot suburbs: Frank Valentic

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GUEST OBSERVATION
The aftermath of bidding on our fourth Melbourne series of The Block has been busy and we can’t believe how much interest our involvement on the finale generated. 
I like my new nickname “The Frankinator” given to me by reporter Alison Stephenson in a News Limited article.
The Block auctions in 2014 are now over and we congratulate all the contestants on their big financial windfalls. The total combined profit was $2,426,000, working out to be an average of $606,625 each. The breakdown was:
<ul>
<li>Dale and Brad ($507,750) 
</li>
<li>Kyle and Kara ($567,250) 
</li>
<li>Lysandra and Alisa ($616,000) 
</li>
<li>And the overall winners Chantelle and Steve ($736,000)</li>
</ul>
You would be disappointed if you were the Cameron Street Richmond contestants who in 2011 won much less than any of this year’s contestants with total winnings of only $225,000. That’s a total difference of $2,201,000 or 978% less. No wonder this year’s contestants were crying with joy!
Unfortunately there were no bargains to be had again this year, unlike our purchase of Polly and Waz’s house in Richmond for $858,000 for one of our investor clients. With a fantastic current rental of $995 per week and an extra $30,000 per annum in depreciation, this represented great buying and it is still returning 12% rental return year on year.
Myself and other Real Estate Professionals believed that the properties would sell in the vicinity of $2.2 to $2.5 million which was what properties in a larger townhouse development in Danks Street, Albert Park with similar accommodation had been selling for.
OUR CLIENTS AND BIDDING 
<img src="/images/2014/04/24/valentic-april-24-one.jpg" alt="">
Frank Valentic bidding at The Block: Fans v Faves auctions. Picture courtesy of Channel 9.
We were bidding for an investor who was a business owner in Kilsyth for Brad and Dale’s property with a budget of $2.3 million, giving our client a 6% return and unfortunately we were the under bidders. There were at least six other bidders and an eventual sale price of $2,310,000. Our client was disappointed we fell short as he had another property settling that week and he said he would have definitely pushed himself higher for these unique properties if he had more funds available.
We then bid on Kyla and Kara’s apartment for our home buyer clients who were a professional young married couple in their 30s living in Southbank.  The intensive care surgeon and marketing manager couple were keen to bid on both of the north facing properties with the tree lined street views.  We bid strongly to our budget limit of $2,430,000 and again were unfortunately the under bidders, to another real estate professional who bought it for $2,440,000 for a downsizer elderly couple.
We had an investor client who was a business owner in Horsham who was keen to snag a bargain and a 7% return (around the $2.2 million mark) for the next auction but we didn’t get many bids in with six to seven bidders taking the twins’ Alisa and Lysandra’s property to $2,380,000, so we were never really in the hunt for this one. 
The last auction was our home buyer professional couples’ first preference as they were attracted to the amazing city skyline vistas and the larger north facing living area.  I have bid at over 2,000 auctions over the last 19 years as a buyer’s advocate / buyer’s agent and attend many auctions each weekend, and I have never been more nervous at an auction. It was our client’s first choice and our last roll of the dice.
My client was performing operations at his hospital and his female partner was too emotional and nervous to be anywhere near The Block, so she was waiting with family nearby.  I knew there would be five to six bidders for this preferred north facing property so I jumped the bidding early from $1.9 million to $2.2 million, as we now do with most auctions every weekend in the current buoyant Melbourne market place.
I bid confidently and assertively and shook off a few other bidders to be left fighting it out with another buyer's agent, who I found out afterwards was bidding on behalf of an overseas Chinese investor.  It literally came down to the wire and we finally secured the apartment for our home buyers on our last bid of $2,470,000.  It was almost like déjà vu as we missed out on the first three Sky High apartments last year in Park Street South Melbourne before securing the last apartment on our last bid for a single female downsizer client from Glen Iris.
Our delighted home buyer clients arrived to sign contracts in their new home and then had celebratory champagne at their new local, The Vincent.
Our fourth Block auction experience was another exciting action-packed night.  Our two investor clients were disappointed to miss out although they understand how important it is to stick to their set budgets.  The TV show continues to have a successful formula and attracted great support from over four million viewers.  My family and I enjoyed watching the series and enjoyed being a part of the experience again and it’s great to see more positive headlines in the press regarding the Melbourne property market again.  The great Australian dream of owning a beautiful home continues to appeal to viewers and this year resulted in great results for Channel 9, the contestants and all the successful purchasers again.
We look forward to hopefully being involved in our fifth Block series with the <a href="/news/the-block-shifting-to-high-street-prahran-after-objectors-fail-to-lodge-vcat-appeal">office conversions at 121 High Street Prahran</a> which they have already started filming and have already had their first room reveal. The series will air around September later this year. “The Frankinator” looks forward to hopefully being part of the next series!
Frank Valentic is managing director of award-winning buyers' agency <a href="https://www.advantageproperty.com.au/" target="_blank" rel="nofollow">Advantage Property Consulting.</a>
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It was our last throw of the dice: Bidding and winning at The Block: Fans v Faves auctions

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The Block auctions in 2013 are now over and we congratulate all the contestants on their big financial windfalls again this year.
From Trixie and Johnno ($205,000), Bec and George ($242,000), Kim and Matt ($250,000), Madi and Jarrod ($291,000) and the overall winners twins Alyssa and Lysandra ($395,000 including prize money), the total combined profit was $1,283,000, working out to be an average of $256,000 each which was $210,000 less each than last year’s couples.
These results were significantly lower than the year before where profits included Dale and Sophie ($355,000), Mike and Andrew ($434,000), Dani and Dan ($448,000) and the overall winners Brad and Lara ($606,000) made a total combined profit being $1,843,000, working out to be an average of $466,000 each.  
You would be disappointed if you were the Cameron Street Richmond contestants, who combined won less than four of this year’s contestants with total winnings of only $225,000. 
Unfortunately there were no absolute bargains to be had again this year, unlike our purchase of Polly and Waz’s house in 2011 for $858,000 for one of our investor clients, which we then leased out for $995 per week.  
The auctions started with the South Australian twins Alyssa and Lysandra’s level one apartment.  
We were bidding for a female home buyer downsizing from a bigger family home in Glen Iris and unfortunately were blown away by at least six bidders and an eventual sale price of $1,435,000.
Our client was disappointed we fell short as she had already missed out on two Victorian terraces in last year’s Dorcas St, South Melbourne Block auctions.  
Myself and other real estate professionals believed that Trix and Johnno’s  penthouse apartment on level five would set the benchmark, as the views would have it estimated to be worth at least $200,000 to $250,000 more than the other apartments.
I estimated that it would sell for around $1,650,000 to $1,700,000 based on comparable sales in the area and was surprised when it only sold for $1,601,000. 
We were one of six bidders representing a downsizer client who currently lives in a bigger home in the South Melbourne area.  
We were bidding for a male home buyer upsizing to a bigger property from his current Southbank apartment for Madi and Jarrod’s level four apartment and unfortunately were blown away by at least six bidders and an eventual sale price of $1,601,000.
Our client was disappointed but we stuck to our budget again. 
Russell Cambridge from Biggin and Scott Real Estate again did a textbook auction as he did in 2011 and made sure he got every last dollar out of two remaining buyers who slugged it out at the end.  
 
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My predictions were then revised to around $1.5 million for the two remaining properties.
We were determined to try and secure one of these apartments for our female home buyer.
We knew we were in trouble when the under bidder of the last auction who bid to $1,600,000 started bidding for Bec and George’s level three apartment. 
A bit of banter and fun including offering to show the other bidder where the lift was so he could leave and let me buy it and offering to take him to dinner if he stopped bidding didn’t work and wasn’t enough! 
We were one of  six bidders who missed out to this gentleman who secured the property for $1,507,000.  
The last auction was my last chance to help my client achieve her dream of a lifestyle change to the vibrant inner city area of South Melbourne. 
I call myself an Aussie Battler as I just battle on and work hard through challenges and my competitive juices were flowing.
Having bid at over a thousand auctions over the last 13 years as a buyers’ advocate / buyers’ agent,  I used every bit of my experience to come up with a game plan that would be successful. 
I had known my client and her former partner who passed away as friends/clients/business partners for over 13 years since we both commenced businesses together and I was determined to help her open a new exciting chapter in her life. 
So just as one of my favourite inspirational characters Rocky did, I picked myself up of the canvas after four missed auctions and started bidding aggressively with strong confident knockout bids. 
My client was overwhelmed with emotion and tears as she could finally start her new life when the seasoned auctioneer Damian Cooley knocked it down to me for $1,455,000.  
My third experience bidding on The Block has definitely been an interesting one and I am surprised by all the attention I have received.
My favourite moment though was being interviewed by Rosso on the Merrick and Rosso radio show, which was great fun and being asked whether I was now going to be the new intruder on Big Brother! 
I look forward to being involved in The Block again next year which, rumour has it, won’t be moving too far and it will involve some warehouse conversions in Albert Park.
Frank Valentic is managing director of award-winning buyers' agency <a rel="nofollow" target="_blank" href="https://www.advantageproperty.com.au/">Advantage Property Consulting.</a>
 
 
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Bidding and winning at The Block Sky High auction day

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The property market is constantly evolving and just like everything in this world, it has its fair share of ups and downs.
Given that only 10% of properties in Melbourne can be viewed as good investments, it can be difficult to choose one that will generate positive returns for you in the future.
However, the whole process doesn’t have to be hard work or stressful.  If you do your homework, purchase within your budget and get some handy advice along the way, you’ll be in a strong position to secure a financially rewarding property that will set you on the path to greater wealth.
Check out the following guidelines to help make buying your next ‘investment grade’ property a little easier.
1. Property size
It’s important to narrow down what you’re looking for and buy according to your budget. It’s fair to say, that a bigger property will always be a more solid and lucrative investment especially in terms of capital growth and financial returns.
Not only will it appeal to a larger demographic of buyers, it’ll be easier to sell because the demand for bigger homes is stronger.
The same rule applies with apartments. If you’re thinking of buying a small one bedroom or studio apartment, proceed with caution when applying for finance.
It’s not uncommon for banks to have lending restrictions in place for properties less than forty or fifty square metres in size. This is because smaller properties attract lower capital growth over the long term and are usually considered high-risk lending for most financial institutions.
2. Street appeal
There’s always a certain x-factor about homes located in quiet, residential and tree-lined streets. If the property has easy access to public transport, shops, cafes and schools, you’ll be onto a winner. Lifestyle locations will generally be more sought after compared to busier, inner CBD suburbs.  This is an important factor to think about when buying your next investment.
To maximise your earning potential, avoid properties located on busy main roads and homes that are too close to unattractive amenities such as factories and train lines.
3. Added features/amenities
Does your property tick all boxes when it comes to practicality, visual appeal and lifestyle requirements? If not, then it may fall short when it comes time to sell later down the track.
Picking a home with attractive amenities is the best way to help increase the value of your property.  The main features to look out for include:
<ul>
<li>A central bathroom with a bathtub which is popular with females and young children. </li>
<li>A home with private laundry facilities as opposed to a shared/communal area. </li>
<li>A practical floorplan that complements easier living. For example, having a separate entrance hallway rather than walking straight into a living area and avoiding homes that have bedrooms coming off the living area. </li>
<li>The flexibility to knock down walls and create open plan living areas.  For example, developing extra space such as a study nook area or an extra bedroom if necessary. </li>
<li>Additional built in features such as heating and cooling systems, dishwashers, gas cooking and gas hot water systems.</li>
</ul>
 
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4. Potential to add value
The aesthetic appearance of your property will often determine if you get top dollar for your property or something far less than you expected.
The ability to add true worth and value is one of the up-sides of owning a property, because you can never lose. In some cases, small improvements can pay huge dividends in years to come.
To stay one step ahead of the rest, when selecting the right investment, it’s important to buy one that has a certain “WOW” factor about it.  Look for unique features that will set it apart from the thousands of properties out there. Think maybe older style apartments with a fireplace, ornate interiors and period style homes.
Cosmetic renovations such as rendering, painting, new fencing, landscaping and adding security systems can make a huge difference in a short period of time. It’s an easy (but often an overlooked way) to add instant value to your property.
Not only will you increase equity this way but you can also expect better future rental returns and cash flow.
5. Focus on land value but not just any piece of land
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Many investors make the mistake of buying larger properties on big pieces of land (usually on the outskirts of town) because of the incorrect belief that land appreciates and buildings depreciate.  To some degree this is true, however, it doesn’t apply to all properties.
It’s not the land that’s important but more the “land value.”  There’s no point buying a property in the country where buyer demand is low and scarcity isn’t an issue.
A smarter option would be to purchase something like an inner city apartment, located in a small boutique block of ten.  The land value with this type of investment is greater due to higher land scarcity and strong buyer demand.
Caution: Avoid high-rise apartments that have minimal land value component and are usually over saturated with other apartments. This tends to reduce land value significantly.
6. Buy wholesale not retail
It’s not hard to figure out that good real estate will always make you money. Because good quality properties are hard to come by, you should always try and hold on to them for as long as you can.
Incorporating property as part of your long-term wealth strategy is a very clever way to boost your income earnings.
To create instant equity, consider buying wholesale rather than retail.  An example of this is buying a property under $500,000 where 80% of people can afford versus buying a property over the 1 million dollar mark, where only 5% of people can afford to buy.
Advantage Property Consulting has purchased more than 75 blocks of apartments on behalf of syndicates and investors.  In this niche area of the market, we are competing with fewer buyers (usually in the multi-million dollar range) resulting in better buying power for our committed investors.
In summary, buying the right ‘investment grade’ quality property is all about following a blueprint that all successful investors follow.
Put simply, some properties generate better financial returns than others.  To reduce your chances of buying a mediocre investment that might be problematic for you later down the track, it pays to be educated about the potential risks/disadvantages involved.
If you follow our proven ‘success strategies’, you can rest assured that you’ll be one step closer to achieving your wealth creation goals.
Frank Valentic is managing director of award-winning buyers' agency <a target="_blank" rel="nofollow" href="https://www.advantageproperty.com.au/">Advantage Property Consulting.</a>
 
 
 
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Six rules to buy financially rewarding residential property: Frank Valentic

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Many investors become confused with what key characteristics they should look out for when purchasing an investment property.
Our buyer’s agency has purchased over 2,000 investment-grade properties on behalf of buyers over the last thirteen years.
So what comprises an investment-grade quality property that will ensure tenants are queuing up to lease your property ahead of other rental properties?
Location, Location, Location!!!
Some investors are lured by how “cheap” or affordable properties overseas or interstate are.
Three golden rules of property investment are location, location, location (just like the TV show!).
It must be walking distance (fifteen-minute maximum) to a train station because as Melbourne’s population grows to seven million people by 2050 and our lifestyles become busier and busier, people will want to reduce commuting times and have easy access to the CBD and the rest of Melbourne.
An investment property should be a short walking distance to lifestyle attractions such as cafes, shops, parks, beaches and any other positive amenities such as shopping centres, restaurants, and bars.
Check out a property’s walkability or walk score on <a target="_blank" href="https://www.walkscore.com/">walkscore.com</a>, which rates every property on a scale of 1 (car dependant) to 100 (walk everywhere). If the score is less than 75, you should consider another property in a location that is closer to lifestyle amenities.
Car parking
An investment property should have at least one car park allocated. A vast majority of the population still use cars for various reasons, such as visiting family and friends or going on social outings, even if they don’t use them to commute to work on a daily basis. Ideally, the car park will be “on title” and it would be a bonus to have secure or undercover parking or a garage.
Security
Do your homework on the crime rate in the areas you are looking to purchase in and there may also be certain streets in the area which are considered to be dodgy or high in criminal activities. Properties that have high security gates and fences and/or security intercom systems and alarms will be preferred by many tenants.
If you wouldn’t want your daughter living there, then you should choose a safer location. When buying apartments, avoid ground floor apartments that are more accessible to break into and choose apartment buildings with secure gates and a security entrance.
Street appeal
They say you only get once chance to make a first impression when you meet people and the same is true when a tenant first sees your property. Many tenants will use google maps “street view” to check out the street appeal of your property and could rule it out instantly if it is not a quiet, tree-lined residential location.
If the property looks shabby or rundown from the outside, many tenants will put your property towards the back of the queue. Be careful of buying properties on main noisy roads or properties adjacent to freeways or other negative amenities such as backing onto train lines, bus or tram stops, petrol stations, factories or schools.
 
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Orientation and light
Get the compass application out on your iPhone and make sure the living areas are facing north or north-west as most tenants prefer to live in well-lit properties that are more energy efficient and that have the right orientation all year round to be have quality light without having to have the lights on all the time.
Avoid south-facing properties and properties where the living areas face east as they will only receive brief morning sun or light.
Aspect or views
Properties with a favourable aspect or appealing views will always be highly sought after by tenants. Properties that overlook attractions such as the city, water, parks and gardens will always have a certain “WOW” factor that sets them apart.
Many investors buy a property because it is “cheap” but it will always be cheap when they go to sell it too.
A savvy investor instead focuses on a quality property with views that you will always pay a bit more of a premium for, but it will be one that will usually achieve higher capital growth, better rental returns and shorter vacancy periods.  
Summary
In summary, buying an investment-grade quality property is about focusing on the key criteria above to set your property apart from the other rental properties competing against yours. It will remove that stressful situation for landlords of having a rental property vacant and needing to attract a new tenant.
With Melbourne’s rental market easing and the rental vacancy rate increasing by 43% (from 1.6% to 2.3% vacancy) and more than 25,000 new properties set to hit the market in the next year, it will become even more important to choose an investment property that ticks most of the boxes.
Frank Valentic is managing director of award-winning buyers' agency <a target="_blank" rel="nofollow" href="https://www.advantageproperty.com.au/">Advantage Property Consulting.</a>
 
 
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How to buy an investment property that stands out from the crowd

<a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> recently welcomed residents into Uno and Duo, marking the completion of the penultimate stage of its $1.2 billion West Village precinct in Brisbane's West End.

There are only two opportunities remaining in the two-tower stage known as The Allere Collection. Duo is fully sold out, but two penthouses have just been released in the sister tower Uno.

The sprawling penthouses, measuring upward of nearly 350 sqm, have been designed by renowned architecture firm Rothelowman to focus on multi-generational living. One penthouse has four bedrooms, the other five, as well as several living areas. A second entry to the apartments make them ideal for those with several generations living under one roof, allowing for greater independence and flexibility within the same home, an increasingly sought-after feature among extended families looking to remain connected without compromising privacy.

[smartcode_project:default project_id=114215 project_image_fid=5703]

Built by&nbsp;<a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a>, one of the best in the construction game, Duo forms part of a connected, pet-friendly vertical community that brings together two architecturally aligned towers with shared rooftop amenity.

Rothelowman Principal Jeff Brown previously described the design philosophy as centred on connection.

“When thinking of ways to nourish a soul one needs connection to self, to nature and to community,” Brown said.

[smartcode_project:default project_id=114215 project_image_fid=204874]

That ethos is expressed through Duo’s rooftop offering, which includes a pool and heated spa framed by mature planting, a private dining room and residents’ lounge, and BBQ facilities. On the lower levels, residents have access to&nbsp;work-from-home spaces, a workshop, and a pet parlour.

The rooftop captures views across the Brisbane River and back toward the city skyline, positioning it as both a retreat and a social anchor for residents.

[smartcode_project:default project_id=114215 project_image_fid=364091]

Owners in Duo also have access to Uno’s rooftop amenities, effectively doubling the shared facilities within the community. At Uno, residents can use a second rooftop pool, additional private dining and entertaining areas, a teppanyaki grill, and the Paw Pavilion, an off-leash space designed for residents’ dogs. The reciprocal access reinforces the project’s “vertical neighbourhood” model, where common areas are intended to extend the footprint of each apartment.

[smartcode_project:default project_id=114215 project_image_fid=5710]

The Allere Collection sits within West Village, a 2.6-hectare mixed-use precinct just 800 metres from the Brisbane CBD. Delivered progressively since 2016 on the former Peters Ice Cream factory site, the masterplan now integrates heritage buildings, retail and dining, health and wellness providers, and open green space into an established inner-west address.

Sekisui has released the final stage of the development, Callista on Park, set to be completed in Q2 next year. With the first release now 95 per cent sold out, limited large-scale three- and four-bedroom residences remain, priced from $2.6 million.

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Joel Robinson

Allere Collection residents move in as multi-award winning West Village enters its final chapter

Construction is underway at <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a>, the boutique residential development by <a>Excelon Projects</a> on Stephen Street in Yarraville, following the appointment of <a href="https://www.apartments.com.au/builders/balmain-co">Balmain &amp; Co</a> as builder.

The milestone marks a significant step forward for the 53-residence project, designed by <a href="https://www.apartments.com.au/architects/six-degrees-architects">Six Degrees Architects</a> with landscape architecture by Simone Bliss Landscape Architects, conceived around a strong focus on community, craftsmanship and connection to nature.

<a href="https://www.apartments.com.au/developers/excelon-projects">Excelon Projects</a>’ vision brings together 41 one, two and three-bedroom apartments and 12 townhomes arranged around a central landscaped garden, prioritising liveability in a low-rise, low-density format.

[smartcode_project:default project_id=144913 project_image_fid=297728]

Open-air corridors, a light-filled lobby and generous setbacks are intended to enhance day-to-day comfort while reinforcing the development’s community-oriented design approach.

Car parking has been located underground to prioritise shared green space and pedestrian movement through the site, allowing the landscaped garden to form the central organising element of the development.

Interiors incorporate custom pieces by Melbourne makers including leadlight pendants by Adadaz, hand-turned timber door handles by Auburn Woodturning, and blown-glass lighting by Ruth Allen, embedding a layer of local craftsmanship throughout the homes.

[smartcode_project:default project_id=144913 project_image_fid=297736]

Sustainability has also informed the design approach, with Yarraville Green targeting an average 7-star NatHERS energy rating. Passive design measures such as cross-ventilation and thermal mass aim to reduce reliance on mechanical heating and cooling, while rooftop solar panels will supply power to common areas and harvested rainwater will be reused for landscape irrigation.

Positioned along the quiet, tree-lined Stephen Street, Yarraville Green sits between Yarraville and Seddon villages, placing residents within walking distance of cafés, dining, boutique retail and the Sun Theatre.

Seddon Station is also a short walk away, ideal for residents seeking an inner-west address with strong amenity and transport connections.

Completion of Yarraville Green is anticipated in 2027.

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Balmain & Co appointed builder as construction begins at Excelon Projects’ Yarraville Green

A long-stalled Mermaid Beach development site opposite Pacific Fair, previously earmarked for a twin-tower project, is set for a fresh development push with plans for a major mixed-use residential tower.&nbsp;

Billionaire garbo Ian Malouf's development company, REMI Residences, is proposing Project Elegance, a 44-storey tower with over 270 residential apartments and 88 short-term accomodation units at&nbsp;2065 Gold Coast Highway, Mermaid Beach, on the corner of Mermaid Avenue.

Malouf paid $23.76 million for the 3,783 sqm site in 2022, six years after it traded for $34.1 million when it was bought by Hubei United Investment Group.

 
<img alt="First Look: REMI Developments plans major mixed-use tower with 360 apartments at stalled Mermaid Beach site" data-entity-type="" data-entity-uuid="" data-widget="image" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mermaid%20Beach%20da%20podium.png?VersionId=yRYSSPItvCA5ZeQ49LlwkQYVn7OhEqIC" /><img alt="" data-entity-type="" data-entity-uuid="" draggable="true" height="15" role="presentation" src="data:image/gif;base64,R0lGODlhAQABAPABAP///wAAACH5BAEKAAAALAAAAAABAAEAAAICRAEAOw==" title="Click and drag to move" width="15" />

&nbsp;

The design statement by DKO says Project Elegance "represents a holistic response to its coastal and urban context. It draws upon site, climate, and landscape to create a composed architectural outcome that prioritises occupant experience, public interface, and long-term viability via vibrant and active uses."

They say the subject site&nbsp;occupies a distinctive island parcel with three street frontages and prominent visual exposure to passing visitors.

"This unique position allows the development to form a panoramic dialogue with water and city, setting the foundation for a climate-responsive, site-specific architectural expression.&nbsp;The podium base, inspired by the region’s sandstone headlands and coastal setting, and adopts a sculpted and grounded character that provides a stable counterpoint to the slender tower above."

&nbsp;

<img alt="First Look: REMI Developments plans major mixed-use tower with 360 apartments at stalled Mermaid Beach site" data-entity-type="file" data-entity-uuid="4f088e10-6493-49d4-83cd-10fc039318ac" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mermaid%20Beach%20da%20tower.png?VersionId=Sbglj0tNBqyvY5V_DlVH.bvjXi8kBbfl" />

Residents and guests would have access to multiple communal recreation levels. Plans include a shared recreation deck on level six, with a pool and three padel courts. There will be a residential-only pool on level seven, and an upper-level communal space only accessible by those buyers towards the top of the tower.

&nbsp;

Ground-floor commercial spaces are proposed to operate between 5am and midnight, contributing to an activated street frontage along the busy Gold Coast Highway corridor.

The site sits within the High Density Residential zone and a Light Rail Urban Renewal Area, where planning policy encourages higher-density development close to transport infrastructure and services. The planning report states the project aims to “ensure the efficient reuse of this centrally located property” and support the transformation of inner-city areas into “more vibrant, compact, interesting, connected and active” precincts.

&nbsp;

The proposal marks the latest attempt to unlock the high-profile parcel, which previously carried approval for the “Elegance” twin-tower development, a project that included more than 500 apartments but ultimately stalled after sales activity ceased in 2019.

REMI Developments has been increasingly active in the Gold Coast property market, with the Malouf-led group positioning itself around premium residential and lifestyle-focused projects as the region continues to attract both interstate buyers and international interest.

Malouf is one of Australia's most impressive entrepreneurs, having sold his waste business fore more than $500 million, having started only with a small truck at 18 years old.

First Look: Billionaire Ian Malouf plans Mermaid Beach tower

A State Significant Development proposal from Ecove Group could see two high-rise residential towers developed above an ALDI-anchored retail podium in Gordon.

The 28-storey towers, dubbed Eight 10, would become the tallest in the sleepy Upper North Shore suburb, which has been stirred by changes to the Low to Mid-Rise Housing Policy aimed at triggering greater density around transport hubs.

Ecove Group’s plans for 810 Pacific Highway, a 2,357 sqm site around 400 metres from Gordon railway station, include 180 apartments, 39 of which would be dedicated as affordable housing.

Architecture firm PBD said in its Design Report the site "presents an exciting opportunity to positively contributes to the surrounding context, enhances the overall urban experience."

<img alt="First Look: Ecove lodges State Significant Development plans for dual-tower “Eight 10” project at 810 Pacific Highway, Gordon" data-entity-type="file" data-entity-uuid="e50141fa-fb0b-44b3-bf9b-c6d87b993c3b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Eight%2010%20podium.png?VersionId=YTgQPBxNnmQwr6x2AJSpVZ1COqa.9oLQ" />

The site previously received approval for a development comprising 56 apartments above retail in 2018.

PBD noted in its report that the planning&nbsp;context for the site has "evolved significantly since the original consent was issued."

In April 2024, the Department of Planning, Housing and Infrastructure (DPHI) identified the site as being located within a Transport Oriented Development (TOD) precinct. In parallel, Ku-ring-gai Council progressed a preferred planning framework for Gordon Town Centre, including proposed amendments to the Ku-ring-gai Local Environmental Plan 2015 (KLEP 2015).

<img alt="First Look: Ecove lodges State Significant Development plans for dual-tower “Eight 10” project at 810 Pacific Highway, Gordon" data-entity-type="file" data-entity-uuid="cf65fb26-a163-41ea-a4d3-8ddbeabd67e4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Eight%2010%20MAP.png?VersionId=vrQJzXSg3xRH.APBmtth5mA2adPmUPjc" />

PBD said the proposed development "responds to the amended KLEP 2015 and, in addition, seeks to utilise the floor space ratio and height incentives available under Chapter 2, Part 2, Division 1 of the State Environmental Planning Policy (Housing) 2021."

Late last year the first project in Gordon through the NSW Government's Housing Delivery Authority was approved. That was for 106 apartments across two connected seven to eight-storey buildings.

Ecove plans 28-storey apartment towers in Gordon

<a href="https://www.apartments.com.au/developers/graya">Graya</a> has set its sights on one of Brisbane’s scarce remaining riverfront development opportunities.

They have spent $17 million on an 810 sqm site across 16-18 Sandford Street, where it is planning SILK, a 15-storey apartment tower with just 22 apartments.

Planning documents outline a single tower designed to take advantage of the site’s northerly outlook toward the river and Brisbane CBD.

There will be eight two-bedrooms and 14 three-bedroom apartments on offer, each either half- or full-floor.

<img alt="Graya" data-entity-type="file" data-entity-uuid="059e1aa4-695c-4556-bafa-e8b5970c06f5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-12%20at%203.07.50%E2%80%AFPM.png?VersionId=tEqwv_m8HYhrXSCStOMFHvGZZ5WgKfEx" />

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According to the Town Planning Assessment, the proposal "showcases a high quality architectural and landscape design outcome that is enhanced by the amenity of the Brisbane River… and provides a subtropical design response that celebrates Brisbane’s climate and lifestyle.”

Ground level includes landscaped communal areas facing the river alongside a gym and outdoor garden space, while the rooftop terrace will feature multiple leisure amenities like swimming pools,&nbsp;dining and barbecue facilities, as well as outdoor relaxation and yoga spaces.

<img alt="Graya" data-entity-type="file" data-entity-uuid="93982dbb-9f27-409b-a319-bd6f458f9ea7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-12%20at%203.09.05%E2%80%AFPM.png?VersionId=gCaaW82pEBxMvXkVkEm4TC_o7_UXA82p" />

Architecturally, the tower form draws inspiration from the movement of water along the river edge. Design documentation describes the building as “a form sculpted by flow, shaped by shifting water,” with curved forms, varied materiality, and sculptural elements used to soften the building’s visual bulk. Sandstone, an iconic material throughout St Lucia, is reinterpreted through a mix of refined and split-face textures across the façade.

The Sandford Street frontage is intended to present an articulated façade featuring vertical landscaping and sculptural architectural elements, helping the tower integrate with the evolving high-density character of the riverfront strip while maintaining visual interest from both the street and river corridor.

Graya has continued to expands its footprint across South East Queensland, with projects under construction across both Brisbane and the Gold Coast.

Frank Valentic

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