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Melbourne packaging magnate Raphael Geminder has put an industrial portfolio with a combined worth of $80 million on the market through his PACT Group Pty Ltd subsidiary company, Centralbridge.
The trans-Tasman portfolio comprised of four properties, described as a combination of passive investment properties and redevelopment opportunities, has locations in Moorabbin, (VIC) Condell (NSW), O’Connor (WA) and East Tamaki, (New Zealand).  
CBRE who have been appointed the campaign for the sale, say they expect to attract strong local interest given a relatively stable economy and appealing borrowing rates.  
Mr. Geminder, whose subsidiary companies also include Alto Packaging Australia, Viscount Plastics and VIP Packaging, said that the improved state of the industrial market indicated an ideal time to divest part of Centralbridge’s portfolio.  
With exception to the O’Connor property (which will be offered on a short term lease, or with vacant possession), all properties are to be sold subject to long term 12 year leases to subsidiaries of Geminder’s PACT Group.  
CBRE’s Chris O’Brien said; ““This long term secure income underpinned by the high land values will only enhance the potential performance of the assets over the investment horizon.”  
The portfolio is being offered for sale via an expressions of interest campaign closing 14 June 2013.  
CBRE’s Victorian Industrial Investments team of Chris O’Brien, Matt Haddon and Rory Hilton will be in charge of the campaign.
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Raphael Geminder's Centralbridge trans-Tasman industrial portfolio listing

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More than 1.35 million premises have been added as next in line to receive high-speed fibre-optic broadband, NBN Co., the company put in charge of building the National Broadband Network, has announced.
The plan adds almost 190 new towns and groups of suburbs, as well as more homes and businesses in areas covered by the previous plan.
This brings to 4.85 million the number of premises that will have construction commenced or where services can be ordered by June 2016.
Blacktown has become the first suburb of Sydney to switch on to the National Broadband Network (NBN).
The NBN now "passes" 1,300 homes and businesses in Blacktown with a further 9,300 premises in the area to come online over the coming months, including premises in Lalor Park.
In April, the NSW Central Coast connected to the NBN with the service available to more than 2,300 homes and businesses in central Gosford.
NBN Co. CEO Mike Quigley said: “We’re getting on with the job of rolling out the NBN in every state and territory. Our plan is to deliver better broadband to every Australian over the remaining eight years of this 10-year build.”
Of the 188 Australian-wide suburbs added to the NBN construction timetable; 66 suburbs were in NSW including Sydney’s Bondi and 46 suburbs in Queensland which included Airlie Beach and the Sunshine Coast.
In South Australia there were 20 suburbs including rural towns Ceduna, Port Lincoln and Salisbury, 15 suburbs were listed in Western Australia including Esperance, Margaret River, Port Hedland and Yunderup and 41 suburbs in Victoria listed Angelsea, Glen Iris and North Melbourne.
The nationwide rollout of the NBN is due to be completed by 2021.
The latest locations next in line to receive the NBN are:
Victoria
 
<table style="width: 320px;" border="0" cellspacing="0" cellpadding="0" frame="box">
<colgroup>
<col span="5" width="64">
<col>
</colgroup>
<tbody>
<tr height="21">
<td height="21" width="64">Anglesea</td>
<td width="64">Daylesford</td>
<td width="64">Kooyong</td>
<td width="64">North Melbourne</td>
<td width="64">Shoreham</td>
</tr>
<tr height="21">
<td height="21">Ballan</td>
<td>Dimboola</td>
<td>Kyneton</td>
<td>Numurkah</td>
<td>Sunbury</td>
</tr>
<tr height="21">
<td height="21">Beaufort</td>
<td>Elmore</td>
<td>Lang Lang</td>
<td>Oakleigh</td>
<td>Tallangatta</td>
</tr>
<tr height="21">
<td height="21">Beechworth</td>
<td>Garfield</td>
<td>Maldon</td>
<td>Point Cook</td>
<td>Thomastown</td>
</tr>
<tr height="21">
<td height="21">Castlemaine</td>
<td>Glen Iris</td>
<td>Mirboo</td>
<td>Portarlington</td>
<td>Trentham</td>
</tr>
<tr height="21">
<td height="21">Chiltern</td>
<td>Heathcote</td>
<td>North Moreland</td>
<td>Romsey</td>
<td>Warburton</td>
</tr>
<tr height="21">
<td height="21">Clunes</td>
<td>Heidelberg</td>
<td>Nathalia</td>
<td>Rushworth</td>
<td>Winchelsea</td>
</tr>
<tr height="21">
<td height="21">Coburg</td>
<td>Heyfield</td>
<td>Newport</td>
<td>Rye</td>
<td>Woori Yallock</td>
</tr>
<tr height="21">
<td height="21" colspan="2">Craigieburn</td>
<td></td>
<td></td>
<td> </td>
</tr>
</tbody>
</table>
New South Wales
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<colgroup>
<col span="5" width="64">
<col>
</colgroup>
<tbody>
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<td height="20" width="64">Albion Park</td>
<td width="64">Bulahdelah</td>
<td width="64">Finley</td>
<td width="64">Mona Vale</td>
<td width="64">South West Rocks</td>
</tr>
<tr height="20">
<td height="20">Bankstown</td>
<td>Canowindra</td>
<td>Frenchs Forest</td>
<td>Moruya</td>
<td>Sydney Springwood</td>
</tr>
<tr height="20">
<td height="20">Barham-Koondrook</td>
<td>Cessnock-Bellbird</td>
<td>Gilgandra</td>
<td>Moss Vale</td>
<td>Tocumwal</td>
</tr>
<tr height="20">
<td height="20">Batemans Bay</td>
<td>Clarence Town</td>
<td>Gunnedah</td>
<td>Murrurundi</td>
<td>Tumbarumba</td>
</tr>
<tr height="20">
<td height="20">Batlow</td>
<td>Como</td>
<td>Hornsby</td>
<td>Murwillumbah</td>
<td>Tumut</td>
</tr>
<tr height="20">
<td height="20">Bawley Point</td>
<td>Cooma</td>
<td>Howlong</td>
<td>Narooma</td>
<td>Tuross Heads</td>
</tr>
<tr height="20">
<td height="20">Bellingen</td>
<td>Coraki</td>
<td>Jindabyne</td>
<td>North Parramatta</td>
<td>Ulladulla</td>
</tr>
<tr height="20">
<td height="20">Belmont</td>
<td>Culcairn</td>
<td>Kellyville</td>
<td>Petersham</td>
<td>Uralla</td>
</tr>
<tr height="20">
<td height="20">Bermagui</td>
<td>Deniliquin</td>
<td>Kempsey</td>
<td>Quirindi</td>
<td>Urunga</td>
</tr>
<tr height="20">
<td height="20">Berowra</td>
<td>Dorrigo</td>
<td>Kooringal</td>
<td>Ramsgate</td>
<td>Walcha</td>
</tr>
<tr height="20">
<td height="20">Berridale</td>
<td>Dungog</td>
<td>Macksville</td>
<td>Raymond Terrace</td>
<td>Williamtown</td>
</tr>
<tr height="20">
<td height="20">Bombala</td>
<td>Edensor Park</td>
<td>Maclean</td>
<td>Shoalhaven Heads</td>
<td>Woodburn</td>
</tr>
<tr height="20">
<td height="20">Bondi</td>
<td>Evans Head</td>
<td>Manilla</td>
<td>Singleton</td>
<td>Yamba</td>
</tr>
<tr height="20">
<td height="20" colspan="2">Branxton-Greta</td>
<td></td>
<td></td>
<td> </td>
</tr>
</tbody>
</table>
Queensland
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<td height="20" width="64">Agnes Water</td>
<td width="64">Burrum Heads</td>
<td width="64">Highfields</td>
<td width="64">Mossman</td>
<td width="64">Sunshine Coast Noosa</td>
</tr>
<tr height="20">
<td height="20">Airlie Beach</td>
<td>Cardwell</td>
<td>Howard</td>
<td>Murgon</td>
<td>Tin Can Bay</td>
</tr>
<tr height="20">
<td height="20">Albany Creek</td>
<td>Childers</td>
<td>Innisfail</td>
<td>Oakey</td>
<td>Toorbul</td>
</tr>
<tr height="20">
<td height="20">Ayr</td>
<td>Collinsville</td>
<td>Lammermoor</td>
<td>Proserpine</td>
<td>Toowong</td>
</tr>
<tr height="20">
<td height="20">Babinda</td>
<td>Cooktown</td>
<td>Landsborough</td>
<td>Rainbow Beach</td>
<td>Tully</td>
</tr>
<tr height="20">
<td height="20">Bells Bridge</td>
<td>Coorparoo</td>
<td>Malanda</td>
<td>Ravenshoe</td>
<td>Wondai</td>
</tr>
<tr height="20">
<td height="20">Booral</td>
<td>Crows Nest</td>
<td>Maleny</td>
<td>Redland Bay</td>
<td>Wonga Beach</td>
</tr>
<tr height="20">
<td height="20">Bowen</td>
<td>Gympie</td>
<td>Maryborough</td>
<td>Sherwood</td>
<td>Woodford</td>
</tr>
<tr height="20">
<td height="20">Boyne Island</td>
<td>Herberton</td>
<td>Mission Beach</td>
<td>Sunshine Coast Caloundra</td>
<td>Woodgate</td>
</tr>
<tr height="20">
<td height="20" colspan="2">Burleigh Heads</td>
<td></td>
<td></td>
<td> </td>
</tr>
</tbody>
</table>
South Australia
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<td style="height: 15.0pt; width: 48pt;" class="xl65" height="20" width="64">Barmera</td>
<td style="width: 48pt;" class="xl65" width="64">Ceduna</td>
<td style="width: 48pt;" class="xl65" width="64">Minlaton</td>
<td style="width: 48pt;" class="xl65" width="64">Port Lincoln</td>
<td style="width: 48pt;" class="xl65" width="64">Stansbury</td>
</tr>
<tr style="height: 15.0pt;" height="20">
<td style="height: 15.0pt;" class="xl65" height="20">Beachport</td>
<td class="xl65">Glenunga</td>
<td class="xl65">Mount Gambier</td>
<td class="xl65">Renmark</td>
<td class="xl65">Tumby Bay</td>
</tr>
<tr style="height: 15.0pt;" height="20">
<td style="height: 15.0pt;" class="xl65" height="20">Berri</td>
<td class="xl65">Lyndoch</td>
<td class="xl65">Naracoorte</td>
<td class="xl65">Robe</td>
<td class="xl65">Waikerie</td>
</tr>
<tr style="height: 15.0pt;" height="20">
<td style="height: 15.0pt;" class="xl65" height="20">Brighton</td>
<td class="xl65">Millicent</td>
<td class="xl65">Penola</td>
<td class="xl65">Salisbury</td>
<td class="xl65">Yorketown</td>
</tr>
</tbody>
</table>
Western Australia
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<td style="height: 15.0pt; width: 48pt;" class="xl65" height="20" width="64">Augusta</td>
<td style="width: 48pt;" class="xl65" width="64">Derby</td>
<td style="width: 48pt;" class="xl65" width="64">Esperance</td>
<td style="width: 48pt;" class="xl65" width="64">Margaret River</td>
<td style="width: 48pt;" class="xl65" width="64">Spearwood</td>
</tr>
<tr style="height: 15.0pt;" height="20">
<td style="height: 15.0pt;" class="xl65" height="20">Broome</td>
<td class="xl65">Dunsborough</td>
<td class="xl65">Glenfield</td>
<td class="xl65">Norseman</td>
<td class="xl65">Wickham</td>
</tr>
<tr style="height: 15.0pt;" height="20">
<td style="height: 15.0pt;" class="xl65" height="20">Cowaramup</td>
<td class="xl65">Ellenbrook</td>
<td class="xl65">Jandakot South</td>
<td class="xl65">Quinns Rocks</td>
<td class="xl65">York</td>
</tr>
</tbody>
</table>
 
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National Broadband Network rollout expanded as Sydney's Blacktown switches on

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Hong Kong ranked as the top performing real estate market across the globe in 2012, international real estate consultants Knight Frank report.
It notched up a 23.6% rise last year.
The global house price index which lists 55 countries, shows Australia globally in 28th place behind near namesake, Austria which had 10.1% growth placing in sixth spot. 
Australia, with a 2.1% growth in the housing market during 2012, has been slowly climbing the list from 32nd in the third quarter of 2012, 34th in the third quarter of 2011.
Of the 55 housing markets, 20 experienced price falls in 2012 down from 25 in 2011.
The report found that of the 20 countries that had a price fall, 19 were located in Europe.
House prices around the world rose by an average of 4.3% in 2012 according to the index.
Knight Frank's Kate Everett-Allen suggsted stronger conditions across all other world regions were offset by continuing challenges in the main European markets.
"The 2012 results suggest the rehabilitation of the world’s housing markets – following the global financial crisis – is still a ‘work in progress’."
Knight Frank Global House Price Index
1 Hong Kong  23.6% 
2 Dubai, UAE 19.0% 
3 Brazil 13.7% 
4 Turkey 10.5% 
5 Russia 10.2% 
6 Austria 10.1% 
7 Taiwan 9.7% 
8 China 9.3% 
9 India 8.5% 
10 Colombia 8.3% 
11 South Africa 7.4% 
12 United States 7.3% 
13 Malaysia 7.3% 
14 Indonesia 7.0% 
15 New Zealand 6.7% 
16 Norway 6.6% 
17 Estonia 5.4% 
18 Iceland 4.6% 
19 Israel 4.5% 
20 Switzerland 3.9% 
21 Finland 3.7% 
22 Mexico 3.1% 
23 Canada 3.1% 
24 Singapore 2.6% 
25 Czech Republic 2.5% 
26 Belgium 2.4% 
27 Germany 2.2% 
28 Australia 2.1% 
29 Sweden 2.1% 
30 Latvia 1.9% 
31 Slovakia 0.9% 
32 Jersey 0.2% 
33 Denmark 0.2% 
34 South Korea 0.0% 
35 Morocco 0.0% 
36 Luxembourg -0.3% 
37 Ukraine -0.9% 
38 United Kingdom -1.1% 
39 Malta -1.2% 
40 Bulgaria -1.4% 
41 Poland -1.5% 
42 France -1.6% 
43 Lithuania -2.6% 
44 Japan -2.6% 
45 Italy -4.1% 
46 Ireland -4.5% 
47 Portugal -5.1% 
48 Romania -5.6% 
49 Hungary -5.7% 
50 Cyprus -5.8% 
51 Netherlands -6.3% 
52 Slovenia -7.6% 
53 Croatia -8.7% 
54 Spain -10.0% 
55 Greece -13.2% 
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Austria, not Australia among the world's 10 hottest real estate markets: Knight Frank global house price index 

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The historic Queensland town of Grandchester, with barely a population of 500, has been identified as an investment hotspot with property prices set to double in 10 years, according to RP Data.

Located 80 kilometres west of Brisbane in the Lockyer Valley region, the town leads the Queensland list with a compounding growth rate of 7.7% over the past five years. 
The rural village boasts several heritage-listed sites such as the Grandchester Steam Timber Mill, one of the last known surviving (and still functioning) steam-powered sawmills in Australia and the Grandchester Railway Station, featuring the first narrow gauge mainline railway in the world. 
Originally known as Bigge’s Camp, the tiny township gained prominence after becoming the temporary terminus of Queensland’s first railway line from Ipswich in 1865. 
Grandchester was eventually renamed by Governor Bowen and now has the oldest railway station in Queensland as listed by the National Trust. 
Despite opportunities for good returns in property investment and country living, the town has experienced a significant drop in population since 2006, previously recorded at 735.
The 2011 ABS report recorded that 43.6% of homes are fully owned, 42.4% have mortgages and 9.1% of homes are rented. 
Currently available on the market are several properties including a freshly renovated three-bedroom, one-bathroom property situated on <a href="https://www.realestate.com.au/property-acreage+semi+rural-qld-grandchester-113416255">1776 square metre block</a>, with a new water tank with an asking price of $262,000.
A three-bedroom, one-bathroom property, which sits on a <a href="https://www.realestate.com.au/property-lifestyle-qld-grandchester-7519383">30.35 hectare block</a> complete with a shed, water tank and greywater system is listed for $420,000.
A two-bedroom, two-bathroom colonial style home, self-sufficient with with solar power and rainwater tanks, sits on an <a href="https://www.realestate.com.au/property-acreage+semi+rural-qld-grandchester-111502503">8.5 hectare block</a> with a large garden shed with an asking price of $339, 900.
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Grandchester, the town that leads Queensland with a compounding growth rate of 7.7% over the past five years

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Dexus Property Group and its Wholesale Property Fund have jointly acquired the under-construction 480 Queen Street office tower from Grocon at an estimated cost of $543.9 million on completion.

Each entity will hold 50% of the asset.
The 31-level premium-grade office development spans 55,561 square metres of office space located in Brisbane’s Golden Triangle, with dual access via Queen Street to the south-east and from Adelaide Street to the north-west.
It will be one of the few premium office towers in the Brisbane CBD to offer large office spaces of up to 2,800 square metres, and is expected to appeal to the high-end corporate tenant market.
The initial yield from occupants is estimated to be 7.25% on completion, based on current pre-commitments and that income guarantees are met.

Already 40% of office space has been pre-committed to future tenants including mining giant BHP Billiton and law firm Herbert Smith Freehills and with its 6 star, Green Star environmental rating, the building is expected to further attract interest from KPMG, NAB and the Commonwealth Bank.  

Construction on the tower has already commenced and is expected to be completed by February 2016.

Dexus’s office portfolio weighting is expected to increase by 1% to 79% following the acquisition with its weighting to the Brisbane CBD office market to be 11.6%.
"Despite mixed short-term fundamentals in the Brisbane office market, we remain confident in the overall metrics for quality, well located properties such as 480 Queen Street which provides premium grade office space with superior specifications and is ideally located in Brisbane’s Golden Triangle," says Kevin George, Dexus's exeuctive general manager of office &amp; industrial.
“Income guarantees expiring around September 2018 will provide security against any near-term uncertainty within the Brisbane market."
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Dexus buys Brisbane office at 480 Queen Street for $543.9 million 

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British media entrepreneur and multi-millionaire Baron Waheed Alli, has purchased an apartment in the Dominion development at Darlinghurst, which is due for completion next month.
He is the co-founder of Planet 24, one of Britain’s largest TV production companies, responsible for hit shows such as Survivor.
Dominion – developed by Cbus Property – <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/darlinghurst-s-newest-residential-development-dominion-revealed/2013012358921">will consist of 108 apartments</a> split across three buildings, each seven levels high close to Oxford Street.

“I have been coming to Sydney for more than 10 years and I love the city; in particular the Darlinghurst area. I’m here at least four times a year on business and pleasure, and I’d much rather have a base with my own creature comforts than staying in an impersonal hotel room,” he said.

Lord Alli (pictured below) plans to use his interior designer, Jonathan Adler from New York, to help with the finishing touches of his fifth floor apartment.
<img height="326" width="470" src="/images/stories/2013/04/lordapril19one.jpg" alt="lordapril19one">

“I bought my apartment in Dominion off-the-plan at least two years ago, and it’s been worth the wait,” he said. 
“I’m impressed how the building has turned out. It has blended into the landscape.”

The $150 million development with asking prices of $1.2 million through Colliers International for two-bedroom apartments and $1.79 million for three-bedroom apartments, was reported to have had about 15% of buyers from overseas, including several expats.
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Designer Jonathan Adler heading down under as Lord Alli buys into Darlinghurst's Dominion

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Property tycoon Donald Trump’s outrider says Queensland's Gold Coast needs to lift its game if it hopes to attract more premium tourism.
Trump International senior vice-president for global hotel development and acquisitions, Todd Wynee-Parry is currently in Australia sizing up opportunities.
But it's not looking likely.
“I think [the Gold Coast] needs to rethink its development strategy and designate some proper resort sites," he told Fairfax Media.
"The Gold Coast is a gorgeous beach with no world class resorts actually on the beach.”
Mr Wynne-Parry is speaking at the Tourism &amp; Transport Forum’s 2013 Outlook Conference in Sydney where the Trump group has given fleeting interest to developing a prestige hotel and apartment Trump Tower at Sydney’s <a href="https://www.propertyobserver.com.au/new-south-wales/paul-keating-urges-james-packer-to-reconsider-barangaroo-hotel-and-casino-but-definitely-keep-it-off-the-grass/2012022853608" target="_blank">Barangaroo</a>.
But Australian gambling tycoon James Packer has a near monopoly on that ambition.
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Donald Trump's senior vice president says the Australian Gold Coast needs to lift its game to attract premium tourism

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The $2 billion Central Park development in Sydney has achieved another major milestone with its 1000th apartment being sold.
The team behind the development, Frasers Property Australia and Sekisui House, noted it on their Facebook page (pictured below).
<img height="459" width="470" src="/images/stories/2013/04/frasersapril19one.jpg" alt="frasersapril19one">
The buyers were dubbed a "visionary group".
Located in Sydney’s inner southern suburb <a target="_blank" href="/news">Chippendale</a>, the development is scheduled to take between eight and 10 years to complete.
It will have the first residents of <a target="_blank" href="/news">One Central Park</a> West by July.
Sales of apartments since its August 2010 launch have ranged between $460,000 and $2.135 million.
Its selling agents say buying interest and demand for the offerings has grown as the architecture has been revealed during construction.
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Central Park, Chippendale secures its 1000th apartment sale

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Investors are encouraged to keep a close eye on Port Melbourne after a recent report by property data business Residex, which suggested the suburb was performing strongly in the rental market.

The March 2013 Residex best rent report listed <a target="_blank" href="/news">Port Melbourne</a> units as among the top investment opportunities in Australia.
The median rental yield has increased to 5.41%, up from 4.5% last December. The area was doing significantly better than the average Melbourne rental yield of 4.4% for March this year, according to the report.
An RP Data report has shown the median asking rent has increased since 2008 and now standis at $655 per week, an increase of $110 from last December.
Formerly an industrial area, Port Melbourne has since experienced an urban makeover providing parklands, bay side beaches, upmarket apartments, restaurants and cafes with 49% of dwellings within the area currently being rented.
The estimated growth for the area is expected to be about 6% over the next 5 years.
However, several apartments currently available on the rental market don't reflect any recent rental price growth.
A two-bedroom, two-bathroom property at <a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-port+melbourne-410135103">Esplanade East</a> (pictured below) listed for $690 per week with the rent history showing a $10 reduction since initially listed last month. In November last year it was listed at $720 per week.
<img height="351" width="470" src="/images/stories/2013/04/portmelbourneapril17one.jpg" alt="portmelbourneapril17one">
A three-bedroom, one-bathroom <a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-port+melbourne-410062775">Pickles Street</a> property (pictured below) has been listed for $650 per week. Its rental asking price has been reduced from $680 last March.
<img height="320" width="470" src="/images/stories/2013/04/portmelbourneapril17two.jpg" alt="portmelbourneapril17two">

A two-bedroom, two-bathroom <a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-port+melbourne-404860962">Rouse Street</a> apartment (pictured below) is available for $700 per week. In March it was listed at $750 per week.
<img height="345" width="470" src="/images/stories/2013/04/portmelbourneapril17three.jpg" alt="portmelbourneapril17three">

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Port Melbourne rental market gets Residex recommendation

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ANZ have announced that its standard variable home loan interest rate will remain unchanged at 6.4% per annum after their monthly interest rate review today.
 It follows the RBA announcing at its April meeting that it would keep the cash rate steady at 3%.
The Big Four have all continued to maintain roughly similiar rates with NAB still the lowest of the four at 6.38%, followed by Commonwealth Bank and ANZ at 6.40%.
Westpac has a standard variable rate of 6.51%.
All four banks reduced their standard variable interest rates in December last year following the Reserve Bank of Australia cutting its cash rate the same month by 25 basis points to 3%.
</body></html>

ANZ sticks to 6.4% standard variable rate

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Glenn Dwyer

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