<html><body>
If you thought glamour was only to be found in sprawling estates or full floor penthouses, think again. Here are five townhouses which prove that there’s something to be said for staying attached.
<a href="https://www.realestate.com.au/property-townhouse-qld-main+beach-107058326" target="_blank">94 Seaworld Drive, Main Beach, Queensland</a>
{yoogallery src=[images/stories/2014/03/04/main]}
This three bathroom, three bedroom townhouse on Seaworld Drive in Queensland’s Main Beach is part of the Palazzo Versace, the former home of <a href="https://www.propertyobserver.com.au/news/geoffrey-and-byrnne-edelsten-s-palazzo-versace-gold-coast-apartment-set-for-auction/2014011367174" target="_blank">Geoffrey and Brynn Edelsten</a>.
The property’s interior takes decadence to the extreme, with timber parquetry floors and more marble than most people could handle. A new resident would enjoy 24 hour security, a concierge service, marina views and a 60 foot berth for the yacht.
Article continues on next page. Please click below.
                                  
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-townhouse-nsw-kirribilli-112871591" target="_blank">1/51-55 Upper Pitt Street, Kirribilli, New South Wales</a>
{yoogallery src=[images/stories/2014/03/04/kir]}
The next property on our list is somewhat more demure.
The unfurnished three bedroom, two bathroom townhouse at Kirribilli has spacious rooms, with high ceilings and marble floors.  But its real drawcard is its location – the two storey townhouse is situated less than a hundred metres from Kirribilli House, and has the best views of the Sydney Opera House and the Harbour Bridge we’ve seen in a while.
Agent Jim Yang of Keith Soames Real Estate is advertising the property at $4.5 million.
Article continues on next page. Please click below.
                     
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-townhouse-vic-toorak-115063251" target="_blank">27A Balmerino Avenue, Toorak, Victoria</a>
{yoogallery src=[images/stories/2014/03/04/too2]}
When most of us hear “townhouse”, we usually assume that living space will be at a premium. Not so for this Toorak home.
With basement parking and lift access, the Balmerino Avenue townhouse has two above ground levels that house four bedrooms and two bathrooms.
The home also includes expansive living and dining areas on the ground floor, and a home theatre and laundry in the basement.
The house has a 5 star energy rating.
Article continues on next page. Please click below.
                             
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-townhouse-nsw-woollahra-116232083" target="_blank">6/89 Ocean Street, Woolahra, New South Wales</a>
{yoogallery src=[images/stories/2014/03/04/woo]}
This Woolhara townhouse once existed as the rear wing of a 1890s mansion, which has now been converted into six strata residences.
Located in one of Sydney’s premier suburbs, the home has four bedrooms and three bathrooms.
The living areas of the townhouse are where the home really comes into its own – the house includes a triple height foyer, an expansive open plan living room with Italian marble credenza and a fireplace, and a large private outdoor terrace. The living areas also have Italian volcanic stone heated floors.
The house is selling through Sotheby’s International Realty.
Article continues on next page. Please click below.
                                
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-townhouse-vic-brighton-116098119" target="_blank">1/13a Dendy Street, Brighton, Victoria</a>
{yoogallery src=[images/stories/2014/03/04/bri]}
One of three townhouses set on a single block of land on Brighton’s Dendy Street, this property is on the market for $2 - $2.2 million through Buxton.
The English coach style home was inspired by architectural drawings from the 1800s. The home’s basement is dedicated to a large home theatre, while the ground floor includes an open plan living area and dining area with a gas log fireplace, with French doors opening onto a paved courtyard.
Upstairs, there is a marbled bathroom and the home’s three bedrooms, including a master bedroom with sea views.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
                             
</body></html>

jrichardson-uRX5hFdKfN

The five most beautiful townhouses on the market

<html><body>
While Andrew Demetriou was doing his best to steal the limelight at a press conference at AFL House, the movers and shakers of Melbourne’s architecture scene were gathered at the other end of town for the <a target="_blank" href="https://www.propertyobserver.com.au/victoria/quentin-bryce-officially-opens-victorias-new-home-of-architecture-41-exhibition-street/2014030268113?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">opening of 41X</a>.
The new commercial tower at 41 Exhibition Street in Melbourne was developed by the Australian Institute of Architects, who began proposals for the site eight years ago. Yesterday, the organisation was joined by strata owners, tenants and friends of the institute like former premier Ted Baillieu to launch the building with Governor-General Quentin Bryce and the institute’s president, Paul Berkemeier.
<img src="/images/stories/2014/03/04/bryce-march-4-one.jpg" width="470" height="247" alt="bryce-march-4-one">
Photo: Governor-General Quentin Bryce speaking at the opening of 41X, supplied. 
Bryce, an architect’s wife herself, spoke of the importance of good architecture to the community and its role in improving overall quality of life. To her mind, with the development of 41X, the Australian Institute of Architects has lived up to its mission statement, “making the world a better place through architecture”.
The 21 storey 41X will be home to 15 tenants, with the Australian Institute of Architects national president Paul Berkemeier noting that many had signed on early in the development process. Sotheby’s Australia will occupy two floors, with one devoted to its gallery and another for its offices. Other occupants include law firm Anzarut &amp; Partners and Lion Capital, along with the Australian Institute of Architecture’s Melbourne offices which occupy five floors. The building is strata-titled, with insurance firm Planned Cover owning three floors. The floor’s first level will be a dedicated “design haven”, with a café and a comprehensive design and architecture bookstore.
Set on a narrow footprint, the building was designed by Lyons Architects after a two-stage design competition, with the internal fit outs of the institute’s levels by HASSELL. The tower was designed with sustainability in mind, and the institute is targeting carbon neutrality over its 30 year operating lifespan – the first building in Melbourne to do so. According to Berkemeier, this target will account for embodied energy, base building operational energy, transport and waste, and will be using both operational strategies to ensure its low carbon output as well as offsetting emissions off site. The $31 million building has a Five Star Green Star design rating.
On the 21st floor of the new 41X, overlooking the Yarra River, Birrarung Marr and Treasury Gardens, there were murmurs among architects that it had been a slow year so far for the industry. But those murmurs were quickly drowned out by the buzz for Australia’s new home of architecture.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
                      
</body></html>

Industry gathers to celebrate Australia's new home of architecture, 41X

<html><body>
The architectural feat of Melbourne’s inner west, the Kensington Lighthouse, was passed in at auction this weekend, despite attracting plenty of attention.
Designed by owner-architect Tim Hill of Tandem Studios, the award winning Kensington Lighthouse at <a href="https://www.realestate.com.au/property-house-vic-kensington-115960671" target="_blank">109 Rankins Road</a> stands out on a street populated by worker’s cottages and the occasional new townhouse. Hill’s house has been featured in Grand Designs Magazine, Architecture Review and The New York Times.
The home represents a feat of architectural design, constrained as it is on a narrow 160 square metre plot, competing for both space and sunlight with its neighbours. Hill and Tandem’s solution was an innovative two story home, featuring two north facing “sun shells”, divided by a courtyard. With polished plywood ceilings that curved to meet the home’s southern walls, the house captures sunlight from a row of high placed windows on the home’s northern side to illuminate the entire interior.
{qtube vid:=zuVrc8qIGKc}
Materiality and form are at the centre of the Lighthouse’s design, which features industrial detailing and high quality finishes. The 5 star rated house includes a polished concrete floor with under floor gas fired hydronic heating, exposed timber beams, and a fascinating translucent danpalon (polycarbonate) façade maximising the penetration of light while maintaining privacy for the home’s residents.
However, it seemed that the two bedroom Kensington Lighthouse, for all the creative kudos it has received, had buyers in doubt over its practicality. With no interior doors save those for the home’s two bathrooms, the Lighthouse takes “open plan living” to the next level, a feature that may have scared off bidders on the day. As prospective buyers, design enthusiasts and sticky beaks (of which there was no shortage) poured through the house before Saturday’s auction, there was a lot of murmuring over who could possibly live in the Lighthouse.
Indeed the home, beautiful as it is, struggles to be liveable. The carport set below the property’s eastern floating “shell” is so low that it would struggle to accommodate a four wheel drive with roof racks, while no doors on the upper level bedrooms means no young children, who could take a tumble down the house’s stairs to its concrete floor.
A gap between the floor’s edge of one upper level bedroom and the home’s wall comes with no guard rail – while steel cabling stretched across the gap would prevent a full grown adult from falling to the house's lower level, a small child or pet might not be so lucky.
<img src="/images/stories/2014/03/04/kensington-march-4-one.jpg" alt="kensington-march-4-one" height="610" width="470">
The concrete floor of the lower level visible in the gap between the unguarded edge of the upper level's floor and the home's wall. 
It seemed that buyers might have agreed. The vendors were expecting between $900,000 and $990,000, a far cry from the $266,700 the Hill spent on the plot in 2006. After failing to attract any opening bids, auctioneer Paul Harrison of Marston Cook started proceedings with a vendor bid of $900,000. The home attracted a single bid of $910,000, with no competitors. After consulting with the vendors, Harrison and Marston Cook’s Jayson Watts, who ran the Lighthouse’s campaign, emerged with a vendor bid of $950,000 – but no bidders took the bait.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
                     
</body></html>

Practicality wins over creativity as Kensington Lighthouse fails to sell at auction

<html><body>
As many property investors know, the city you currently call home isn’t always the best place to invest.

You’ve done your research – picked out the potential growth areas, drawn up your budget and growth expectations, and are now preparing to invest interstate. But there are many steps to the buying process, and they can differ from state to state. Here are some key differences in purchasing properties interstate.

Inspecting a property

Assuming that you’ve picked out the area and property type you want to purchase, the next step is inspecting potential properties. Victorian investors will be aware of Section 32, a mandatory vendor’s statement which provides buyers with a range of information about the property before the sale.

The Section 32 document is prepared by a lawyer or by the vendor under legal instruction – and if the vendor knowingly provides any false information, they have committed a criminal offence, and face fines.

The document will include any mortgages or debts charged against the land, planning information, disclosure of services connected to the property and any registered building work that has been carried out in the last 10 years. Registered building works will be covered under warranty for 10 years, even if the property has changed hands multiple times.

Section 32 is generally considered the most comprehensive vendor disclosure statement in the country, and must be provided before the auction or before a contract is signed in a private sale.

In New South Wales, sellers are required to provide Schedule 1 Prescribed Documents, but these generally only include mortgages on the property, deeds and restrictions on the use of land. NSW Fair Trading recommends that buyers carry out an independent pre-purchase inspection report.

Your inspection report should be carried out by a licensed builder, surveyor or architect – and make sure they have professional indemnity cover, in case you want to seek compensation for any errors they make. You’ll have to weather the cost of the report yourself, which will vary depending on the consultant and the size, age and condition of the property.

The report won’t cover information on any hidden or structural problems with the property, as it’s generally just a visual assessment. It also won’t cover electrical wiring, plumbing or gasfitting, or fireplaces and chimneys. If you are concerned about any aspect of the property in particular, you should engage a specialised inspector before purchasing.

Sellers in South Australia are required to provide a Form 1 disclosure statement to the purchaser, through the seller’s real estate agent. The Form 1 must be available to buyers before the auction date. If a property is being sold through a private sale, the Form 1 must be provided at least 10 days prior to the settlement date. The provision of the Form 1 also affects a buyer’s cooling off period. A Form 1 generally covers similar information to NSW’s Schedule 1 Prescribed Documents, so an independent inspection report is recommended.

Queensland currently doesn’t have compulsory disclosure statement for all residential properties. Body corporates should provide information for townhouses, apartments and units. Again, the Queensland Office of Fair Trading advises buyers to carry out independent inspections. The same goes for buyers looking to invest Tasmania, or in the Northern Territory after vendor disclosure legislation was dumped in 2012. Sellers in Western Australia aren’t required to provide a disclosure statement to any prospective buyers, but should prepare a Seller’s Disclosure Statement for their agent.

When selling property in the ACT, vendors are required to provide documents prior to sale including an assessment of the physical condition of the property, an asbestos assessment report, and any restrictions to development on the land. ACT vendors are also required to provide an energy efficiency rating statement, and a pest inspection report (neither of which are required in a Section 32 document).

Cooling off period

Not all buyers have the luxury of a cooling off period, with legislation changing from state to state. During a cooling off period, a buyer can change their mind about purchasing a property and only face a small fee (0.25% of the purchase price or less) so long as they provide written notice to the vendor or their agent.

In Victoria, there is no cooling off period for properties purchased at auction. There’s a three day cooling off period for private sales of residential properties of less than 20 hectares, but this is waived if the property is sold three days before or after a scheduled auction. The cooling off period is also waived if a buyer is represented by an agent.

The ACT, NSW and Queensland all have five day cooling off periods for residential property purchases at private sales, but not for auction sales. Generally the cooling off period begins from the day that the buyer or their agent receives a copy of the sales contract that has been signed by both the buyer and the seller.

South Australian property sales come with a cooling off period of two days. If a Form 1 is provided before the sale, then the cooling off period commences on the date the contract is signed. If the Form 1 is served after the contract is signed, the cooling off period begins on the day the form is served.

Investors buying in Western Australia and Tasmania aren’t allowed cooling off periods.

Stamp duty or land transfer tax

Don’t forget that stamp duty or land transfer taxes change from state to state, and depend your property’s intended purpose. Each state’s revenue office website has a stamp duty calculator that can help you estimate how much you’ll be charged.

Who can help?

Purchasing a property interstate can be a difficult task, especially if you’re not an experienced investor and you’re looking to invest in a state you haven’t lived in before. The best way to ensure you have all the aspects of your investment covered is to engage a local conveyancer.

A specialist lawyer, your conveyancer can prepare and lodge your legal documents, such as your contract of sale. They can also calculate your expenses, put your deposit in a trust account, and research the property for you. A conveyancer should also handle your property’s settlement, including liaising with your financial institution. As always, seek out a reputable conveyancer, and make sure their firm is not also representing the vendor of the property you’re hoping to purchase.

Purchasing interstate is a great way to spread risk across your property’s portfolio or capitalise on growth areas – just make sure you do your homework.

<h2>Recently listed properties:</h2>

[smartcode_project:default project_id=29947]

[smartcode_project:default project_id=29660]

[smartcode_project:default project_id=4939]                  
</body></html>

Buying interstate? The information you need to know

<html><body>
With completion scheduled for March, only one full floor apartment and the penthouse at Sydney’s Eliza development remain unsold.
Three full floor apartments sold before Christmas, and another two in the complex sold this week, with two more pending exchange. The building’s developers, Ceerose, expect that the final full floor apartment will be sold by the end of next week.
This week’s sales were negotiated by Nigel Napoli of Savills, with prices expected to have ranged from $4 million to $6 million. Savills and McGrath have achieved five sales for Eliza since marketing began in December.
According to Napoli, Eliza’s luxury apartments have been the subject of international interest.
"We are confident of exchanging on a further two full-floor apartments within days," said Napoli. "Of all the sales at Eliza to date, four have been to overseas purchasers so the development is receiving international acclaim."
Eliza, located at 141-143 Elizabeth St, was designed by architect Tony Owen. The building contains 19 apartments in total, with 10 two bedroom, two bathroom half floor apartments on the lower five levels. There are eight four bedroom, four bathroom full floor apartments, each with their own private lobby. The remaining 200 square metre full floor apartment is on level seven of the building. Eliza’s penthouse will be marketed once completed and fully furnished, with expectations of $15 million.<img style="float: right;" alt="Eliza-nearing-completion" height="334" width="200" src="/images/stories/2014/02/28/Eliza-nearing-completion.jpg">
Napoli notes the prestige location of Eliza, which is situated among fine dining restaurants and fashion boutiques.
"The added bonus for Eliza purchasers is that capital growth of 'blue chip’'buildings in exclusive locations is more pronounced than for any other form of residential property," he said. Hamish Robertson, a director of McGrath, also commented on the development’s location.
"These apartments are in the heart of the Sydney CBD with Hyde Park acting as its front garden. There are not many major cities of the world that offer apartments with this outlook," he said.
Each apartment in Eliza includes a fireplace and full-height timber panelled walls, with limestone floors, calacatta marble benchtops and splashbacks and a walk in pantry in the kitchen.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/">Investor Showcase</a>.
 
</body></html>

One apartment remaining as Sydney’s Elizabeth Street Eliza nearing completion

<html><body>
The current credit rating system for borrowers is set to be overhauled next month with the introduction of a new, more comprehensive process.
Known as the comprehensive credit system (CCR), the new scheme will offer much more detailed information to lenders when borrowers seek a new loan. Currently, a borrower’s credit file is protected under the Privacy Act, with a limited amount of information available to lenders.
Under the current scheme, a lender can only access information on credit enquiries and major ‘negative’ credit events such as defaults or bankruptcies. When the CCR is introduced on March 12, lenders will be able to access information such as when an account was opened and closed, credit limits, types of credit accounts and repayment histories.
With detailed repayment history information soon to be available to lenders, the new system provides an incentive for prospective borrowers to pay their bills on time. Under the CCR, any failure to pay a bill of more than $150 more than 60 days after its due date is classed as a ‘default’, which will be listed on the credit file, along with any resultant repayment arrangements. The CCR will not include any foreign credit information.
According to Robert Projeski, director of Australian Mortgage Options, the new system will benefit borrowers with good financial histories, but may hinder those with poorer credit files.
"This should be seen as a positive by people with a good credit rating, looking to borrow but also something to keep in mind for existing mortgage holders," Projeski said.
"Previously credit reports had identified negative details, defaults and bankruptcies. Now lenders will have a real indication on how good a consumer is when it comes to their financial affairs.
"If you are behind on repayments this information will be more transparent and this can affect your standing when you apply for credit."
He recommends that borrowers use the introduction of the new scoring system as an opportunity to evaluate the state of their finances.
"With the changes to start in March, it’s a good time to get a financial health check to ensure your financial affairs are in order and that you stay on top of them," he said.
"I would suggest people look into the options such as setting up an offset account or perhaps using lump sum payments such as tax returns to get ahead on your repayments now and stay ahead."
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
</body></html>

A new credit scoring system: How it will affect you

<html><body>
If there’s one stand out design feature on Channel 9’s The Block: Fan v Faves, it’s industrial furniture. Tasked with creating luxury loft style apartments in a <a target="_blank" href="/news">former art-deco cinema</a> in Melbourne’s Albert Park, the contestants are taking a cue from the building with their furniture choices. Recycled caster wheels, solid timber floating benches and heavy pendant lights abound.
The producers behind The Block couldn’t have happened upon a more fitting trend, with industrial styling serving the show well. Any reality show will at some point come under fire for being inauthentic or overly slick. By choosing the Albert Park site and pushing the industrial design brief, The Block: Fans v Faves has neatly side-stepped any such issues – at least in relation to style of the final properties. And the trend’s DIY aesthetic is of course perfect for the show’s participants and its audience of aspirational renovators.
<img src="/images/stories/2014/02/28/the-block-feb-28-one.jpg" width="470" height="157" alt="the-block-feb-28-one">
Photo courtesy of Channel 9.
Beyond The Block, industrial styling is undoubtedly the trend of the moment. With the young middle-class increasingly desperate to claim some sort of ‘authenticity’ (blame hipsters, if you must) and property stylists everywhere after a new point of view, industrial furniture fits the bill. The chrome, glass and black leather masculinity trend of the late 90s (the equivalent of a high shine polyester blend suit) seems a little too slick and cynical for a post-GFC world, while the crafty, kitsch vintage trend that followed always read as a little infantile. The interior design pendulum seems to have settled, for the moment at least, on a decent middle ground.
The best industrial furniture relies on material and form, rather than ornamentation, to make its statement. Red brick, stripped timber or iron can add texture to a space or piece of furniture, avoiding sterility without sacrificing strong lines, while using recycled industrial elements gives furniture rarity without fuss. 
The furniture of Australian designer Mark Tuckey (pictured below) speaks to this sentiment. Featuring high quality timber, his furniture’s simple lines showcase his materials. Tuckey’s designs have been front and centre on The Block this season. The judges’ set was styled by his wife and business partner, Louella Tuckey, and features their company's furniture. The contestants have purchased wares from his Fitzroy showroom to furnish their properties, and last week an entire episode revolved around the designer.
{yoogallery src=[images/stories/2014/02/28/tuck]}
Photos courtesy of <a target="_blank" href="https://www.marktuckey.com.au/category.aspx">www.marktuckey.com.au</a>
Each team was <a href="https://theblock.tv/the-block-2014/block-2014-mark-tuckey-furniture-design-challenge/" target="_blank">tasked with creating a piece of industrial style furniture</a> in Tuckey’s Thornbury workshop, featuring recycled caster wheels. The teams, who all went for tables of some description, answered the brief with varying degrees of success.
Alisa and Lysandra, though they didn’t win, did a great job. The twins created a rolling bench with inset plant pots along the centre softening the piece’s lines (see below) - and 10 points for their use of negative space between the bench top and its base.
<img src="/images/stories/2014/02/27/alisa_and_lysandra.png" alt="alisa_and_lysandra" height="262" width="470">
<img src="/images/stories/2014/02/27/alisa_and_lysandra_2.png" alt="alisa_and_lysandra_2" height="262" width="470">
Pictures courtesy of Channel 9.
Other teams didn’t fair quite so well, with Steve and Chantelle’s piece (pictured below) attempting to shoehorn in too many industrial elements. A vintage ruler inset on the tabletop and table legs made of a ladder and a trolley made their furniture look a little too arts n’ crafty.
<img src="/images/stories/2014/02/27/chantelle_and_steve.png" alt="chantelle_and_steve" height="262" width="470">
<img src="/images/stories/2014/02/27/chantelle_and_steve_2.png" alt="chantelle_and_steve_2" height="262" width="470">
<img src="/images/stories/2014/02/27/chantelle_and_steve_3.png" alt="chantelle_and_steve_3" height="262" width="470">
Pictures courtesy of Channel 9.
And sadly Brad and Dale’s table (pictured below) fell apart at the last moment.
<img src="/images/stories/2014/02/27/brad_and_dale.png" alt="brad_and_dale" height="262" width="470">
Pictures courtesy of Channel 9.
The challenge’s winners, as judged by Tuckey, were Kyal and Kara. The couple produced a timber-topped table set on cast iron (pictured below). With a simple silhouette, it certainly was the piece most in keeping with Tuckey’s style, and one of the challenge’s more sellable pieces.
<img src="/images/stories/2014/02/27/kara_and_kyal.png" alt="kara_and_kyal" height="262" width="470">
<img src="/images/stories/2014/02/27/kara_and_kyal_2.png" alt="kara_and_kyal_2" height="262" width="470">
Pictures courtesy of Channel 9.
As Tuckey’s furniture shows, the best industrial pieces are simple and showcase the materials - in his case, recyled timber. 
But there’s also more to the appeal of industrial furniture than its trendy aesthetic. While reusing old industrial elements reduces the chance you’ll see an identical piece in your friend’s house, good old fashioned recycling also serves its intended purpose – to cut down on waste and save on energy. 
Singapore based furniture company d-Bodhi is another that’s been featured on The Block. In the show’s 2011 season, sisters Katrina and Amie used an impressive dining room table from d-Bodhi’s Kasting collection (pictured below), made of reclaimed teak and galvanised pipes.
<img src="/images/stories/2014/02/27/H3_Rm6_Kitchen-29_copy.jpg" alt="H3_Rm6_Kitchen-29_copy" height="470" width="470">
Picture courtesy of Channel 9.
Marketing its products as ‘eco-furniture’, d-Bodhi produces furniture using materials such as recycled denim, old teak from dingklik (benches at roadside eating carts) and Javanese license plates. With sustainability looking to be a design trend that’s here to stay, industrial furniture designers like d-Bodhi, who are striving to achieve a carbon neutral footprint and have planted about 10,000 trees since May 2012, are fitting the brief.
Tapping into the push for environmental awareness in design and the raw edges of its Albert Park site, the producers behind The Block certainly know how to capitalise on the industrial design trend. And with viewer numbers hitting 1.3 million for its most recent Sunday room reveal show, you can bet that renovators across Australia will be doing the same.
jrichardson@propertyobserver.com.au
                
</body></html>

Raw timber and red brick: Industrial design on The Block

<html><body>
Westpac has announced that it will cut rates on its two and three year fixed rate mortgages.
Interest rates on two year fixed rate mortgages will be lowered by 0.05 of a percentage point to 4.84% per annum, while rates for three year fixed rate mortgages will now be offered at 5.09%, a drop of 0.04 of a percentage point.
With the Reserve Bank of Australia (RBA) choosing to keep the overnight cash rate on hold for February, Westpac has been the only of the four major Australian banks – Commonwealth Bank, ANZ, NAB and Westpac – to cut its rates this month.
In January, NAB lowered interest rates on its four year fixed term home loans to 5.44% per annum, a 20 year low for the bank. Rates for its three year fixed term loan were also cut, dropping 0.05% to 5.14%.
Commonwealth Bank is currently offering two year fixed rate loans at 4.99% interest per annum, with rates for a three year fixed rate loan at 5.24% per annum. Earlier this month, Commonwealth Bank chief executive Ian Narev commented that a rate cut “independent of any move by the Reserve bank” was “plausible over time.”
The interest rate on ANZ’s two year fixed rate loan is at 5.04% per annum, and the interest rate on its three year fixed rate loan is at 5.28%.
Westpac's rate changes come into effect on February 25.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
           
</body></html>

Westpac cuts fixed rates for two and three year loans

<html><body>
The Australian Institute of Landscape Architects (ALIA) is seeking a creative director for the inaugural Festival of Landscape Architecture.
The festival will be dedicated to celebrating the contributions of landscape architectures to our communities and environments.
ALIA intends for the festival to engage the profession, universities, government and the public. It will feature events including a national conference, the National Landscape Architecture Awards, an education and research summit, as well as tours and fringe activities.
ALIA national president Mark Frisby says the event will allow landscape architects to foster global conversation.
"This is a unique and exciting opportunity for AILA and the profession to facilitate valuable exchanges between local and international practitioners; between speakers and delegates; between practice, industry, education, the public and authorities; and between Australia and the world," he said.
"I have experienced terrific camaraderie when landscape architects come together which breeds ideas, enthusiasm and outcomes that can only be generated by people coming together. The Festival of Landscape Architecture is the perfect event for such an exchange."
The festival is set to take place later this year in Brisbane, from October 16 to October 18.
ALIA is currently seeking expressions of interest from individuals, practices, schools or teams for the role of festival creative director. Responsibilities will include the development of the festival's theme and content, branding, and fringe events.
For more information, see <a target="_blank" href="https://www.aila.org.au/">ALIA's website</a>.
</body></html>

First Australian landscape architecture festival announced

<html><body>
South Australia’s Labor government has announced that it will commit $14 million for a new grant to assist people aged over 60 looking to downsize their home.
The $8,500 grant will be available for new builds valued up to $400,000, phasing out for homes valued up to $450,000. The government will reassess its $7 million per year commitment after two years.
The Property Council of Australia has been campaigning to remove roadblocks for downsizers. The executive director of the council’s South Australia division, Richard Angove, says the grant is a big win for its members.
“Labor’s grant will boost the construction of new homes and increase the supply of existing housing stock, providing greater opportunities for younger South Australians to take the first step to home ownership,” Angove said, pointing to the grant’s benefits beyond South Australians aged over 60.
“When you consider the gains made by extending the Housing and Construction Grant and securing partial Stamp Duty concessions on new apartments from 1 July 2014 until 30 June 2016, this policy is a positive step towards stimulating the development sector.”
However, this does come as information from IBISWorld suggests that <a href="https://www.propertyobserver.com.au/news/baby-boomers-are-actually-upsizing-ibisworld/2014021767853" target="_blank">baby boomers are actually looking to upsize rather than downsize</a>, as a result of conditions surrounding the asset income test when receiving the pension. There is, however, a <a href="https://www.propertyobserver.com.au/demographics/federal-budget-s-trial-program-encouraging-downsizing-to-smaller-homes-without-affecting-aged-pensions/2013051461357" target="_blank">pilot scheme slated to assist with this issue and not penalise those who look to downsize</a>.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
</body></html>

South Australian government announces $8,500 grant for over 60 downsizers

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Jessie Richardson

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News