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GUEST OBSERVER
To most within the development sector, the world of construction finance beyond the major banks is largely opaque, with no clear signage or yellow pages directory to guide developers in the right direction to find the best fit for their business and project needs. 
There are a multitude of sophisticated providers of private construction or site acquisition money available to be tapped into, however most do not have a front door as such and they certainly don’t have a team of business development executives who pound the pavement looking for deals to invest in. 
They rely on origination businesses like HoldenCAPITAL to source and present the opportunities to them, which is why we commit a lot of our time to engaging with them to gain a clear understanding of what they will and won’t invest in and the terms on which they will do so. 
A point we often make to clients is that you wouldn’t waste your time trying to negotiate an important town planning issue without input from an experience town planner in order to draw on their experience, relationships and understanding of current approval authority expectations. 
Similarly, we see ourselves in the same light, tapping into the knowledge gained from settling over $340 million in new development transactions over the past 12 months and our accreditation with over 100 lenders to ensure we secure the best possible financial outcome for our clients. 
In fact, our list of lenders and equity providers is growing at the rate of about one a week and of these, some 87 are currently active in one form or another with Investor Funds, Mezzanine Lenders and Private Lenders accounting for over 70 percent of them. 
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In particular, we are seeing a growing level of demand for and supply of, Stretch Senior funding options where lenders are prepared to provide up to 86% of the Total Development Cost, in return for a total interest cost in the order of 11 percent but with more relaxed terms and conditions. This is particularly evident in the area of pre-sale debt cover, where there is scope to reduce this figure to well below the 100 percent+ required by the banks. 
The demand supply equation for construction funds tends to react quickly as evidenced when the major and second tier banks started to withdraw from the market under regulatory pressure and we saw increased demand on those smaller funds and private lenders to fill the gap. After a flurry of activity many were tapped out and we found ourselves looking further afield to meet the demand. 
Following interstate visits and trips to Asia we now have a significant number of new sources and as a result, we are finding that the capital supply is meeting demand and with a steadily growing supply of mandated transactions these new lenders are stepping up to meet the demand. 
This article was written by Dan Holden of HoldenCAPITAL, who are a bespoke construction finance firm, they arranged over $300 million of construction finance in 2015 across 52 projects. To discuss your project finance requirement please call (07) 3171 4200 or visit <a href="https://www.holdencapital.com.au/" target="_blank">www.holdencapital.com.au</a>
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jchancellor-FAypfDUnLy

The world of construction finance without banks: HoldenCAPITAL

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Ex-Societe Generale CEO John Harvey has sold his Balmoral mansion reportedly for around $12.5 million after a three-month campaign through McGrath agent Michael Coombs.
<a href="https://www.realestate.com.au/property/13-balmoral-ave-mosman-nsw-2088" target="_blank">It was a new-build</a> by award winning Sanctum Design and crafted by award winning Mudgecorp Constructions.
Offering over 800sqm of luxury living space, the home has five bedrooms, five bathrooms and a swimming pool
There's a 140 sqm terrace with fire pit and outdoor kitchen.
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It likely ranks as the second most expensive Mosman home sold in 2016, after retired Merrill Lynch and Commonwealth Bank executive Doug Dovey and his wife Debra's sale. Their nearby Burran Avenue home fetched $12.8 million in March. 
The former Australian chief executive of French investment bank Society Generale paid $3.25 million for the property in 2005 and built the new home from scratch on the 988 sqm parcel.
 
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Balmoral trophy home sale for John Harvey

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The Old Stone House, the oldest standing building in picturesque Bilpin in the Hawkesbury Valley, has been listed for sale.
Set on a quiet lane on around 3.6 hectares of gently sloping land, the circa <a href="https://www.realestate.com.au/property-house-nsw-bilpin-122960454" target="_blank">1890s offering </a>is set amongst a small apple orchard and a dam with irrigation.
It comes with a price guide of $950,000 to $1.05 million through Bennett Property agent Michael Bennett.
There is a footprint for a future house on the property with a rundown three bedroom home also on the property.
The adjoining property is also for sale, at roughly 8.5 hectares. 
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Bilpin's heritage Old Stone House listed

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GUEST OBSERVER
Generally, where an executor of a deceased’s estate is a spouse, family member or friend, for example, they are not entitled to remuneration, particularly if they already receive a benefit under the deceased’s will. 
If an executor is not remunerated under the Will they can make an application to the court, which has the discretion to allow an executor remuneration for their services where it is just and reasonable (see section 98 Trustees Act 1962 (WA); other states including NSW have an equivalent provision). 
In Atkins v Godfrey [2006] WASC 83 the court stated that it was just and reasonable for the executor (who was a friend of the deceased) to receive remuneration, as there was evidence to show that during a five-year period the executor had spent over 380 hours on the administration of the estate and that the executor had rendered substantial services over that time.
However, the court has the power to refuse an executor’s remuneration on a number of grounds, including positive fraud and dishonesty or if there has been misconduct in the execution of the executor’s duties.
Whilst in the above case there were no acts of fraud or dishonesty, there were two factors which reduced the amount of remuneration the court awarded the executor: 
One - Failure to pursue the administration of the estate with due expedition
Once the assets of the estate were distributed, a dispute arose relating to legal fees paid to the solicitors involved assisting with the administration of the estate, and who represented the executor in relation to a claim against the estate from the deceased's family member.
This conflict caused a delay in relation to finalising the accounts of the estate and the court found that the evidence showed the executor did not take steps to ensure the conflict was resolved expediently.  As a result there was unnecessary delay which reduced the amount the court awarded the executor to reflect that the administration of the estate should have been finalised earlier. 
Two - Failure to scrutinise legal fees
The executor overpaid the solicitors involved in the administration of the estate due to a failure of the executor to scrutinise the invoices to ensure the amounts charged were proportionate to the work undertaken.  This meant the solicitors had to refund to the estate approximately $19,000.  The court decided that as a result of this a modest reduction to the remuneration of the executor would be appropriate.
Other factors relevant to the amount of remuneration awarded in this case included. 
- the estate was not complex for the executor (i.e. the Will was not difficult to interpret, most assets were distributed straight to the beneficiaries and did not need to be sold);
- the amount of time the executor spent on the estate (over 380 hours);
- the responsibility the executor assumed in relation to the court action against the estate; and
- the involvement of professional solicitors and accountants in relation to the estate.
Independent executors can be paid by the estate but it is wise to say so in the Will.  The amount they can receive is clearly dependent on the particular estate but also on the level of efficiency they exhibit in carrying out their role. 
 Peter Townsend is principal, Townsends Business &amp; Corporate Lawyers and can be contacted <a href="https://www.townsendslaw.com.au" target="_blank">here</a>.
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Property 101: When it is reasonable for an executor to be remunerated?

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<img src="https://counter.theconversation.edu.au/content/64488/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The wild storms that lashed eastern Australia earlier this year damaged property and eroded beaches, causing millions of dollars' worth of damage.
As sea levels rise, the impact of storms will threaten more and more homes, businesses and services along the coastline.
CSIRO projections suggest that seas may rise by as much 82cm by the end of the century. When added to high tides, and with the influence of winds and associated storms, this can mean inundation by waters as high as a couple of metres.
As a community, we have to start deciding what must be protected, and how and when; where we will let nature take its course; how and if we need to modify the way we live and work near the coast; and so on. Many of these decisions fall largely to local governments.
We have launched a website to help local councils and Australians prepare for a climate change future. CoastAdapt lets you find maps of your local area under future sea-level scenarios, read case studies, and make adaptation plans.
<h2>How will sea-level rise affect you?</h2>
Using sea-level rise modelling from John Church and his team at CSIRO, CoastAdapt provides sea-level projections for four greenhouse gas scenarios, for individual local government areas. This also provides a set of inundation maps for the selected local government area.
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Sydney’s possible sea level in 2100 under a worst-case scenario. Inundated areas shown in pale blue. NCCARF
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The inundation maps (developed by the Cooperative Research Centre for Spatial Information) show the average projected sea-level rise for a particular climate change scenario, combined with the highest tide. The method provides an approximation of where flooding may occur.
Because water is simply filled onto the map according to elevation, it doesn’t account for things like estuary shapes and water movement, the behaviour of waves and so on.
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Brisbane’s possible sea level in 2100 under a worst-case scenario. Inundated areas shown in pale blue. NCCARF
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But both the maps and the sea-level projections are a useful way to start thinking about where risks may lie in any given local government area.
CoastAdapt also looks at what we know about coastal processes in the present day. Understanding these characteristics helps us understand where and why the coast is vulnerable to inundation and erosion.
For instance, sandy coasts are much more vulnerable to erosion than rocky coasts. The information will help decision-makers understand the behaviour of their coasts and their susceptibility to erosion under sea-level rise.
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Darwin’s possible sea level in 2100 under a worst-case scenario. Inundated areas shown in pale blue. NCCARF
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<h2>Local councils already adapting</h2>
Adaptation is already happening on the ground around Australian local councils. We have highlighted several of these on CoastAdapt.
In the small seaside town of Port Fairy in southeast Victoria, for example, an active community group is monitoring the accelerated erosion of dunes on one of their beaches. The council and community have worked together to prioritise protecting dune areas with decommissioned landfill to prevent this rubbish tip being exposed to the beach.
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Other councils have already undertaken the process of assessing their risks and drafting adaptation plans.
Low-lying areas in the City of Lake Macquarie already experience occasional flooding from high seas. This is expected to become more common and more severe.
Lake Macquarie Council has successfully worked with the local community to come up with 39 possible management actions, which the community then assessed against social, economic and environmental criteria. The area now has a strategy for dealing with current flooding and for gradually building protection for future sea-level rise.
This approach has engaged community members and given them the opportunity to help decide the future of their community.
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Melbourne’s possible sea level in 2100 under a worst-case scenario. Inundated areas shown in pale blue. NCCARF
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<h2>Getting prepared</h2>
What stumps councils and other coastal decision-makers is the scale and complexity of the problem. Each decision-maker needs to have some sense of the risk of future climate change to their interests, then develop plans that will help them to cope or adapt to these risks. Planners and adaptors must navigate uncertainty in where, when and how much change they must consider, and how these changes interact with other issues that must be managed.
To better understand the risk, decision-makers need access to timely, authoritative advice presented in ways and levels that are useful for their needs. This is particularly true for an issue such as climate science, which is technically complex.
Climate projections, particularly at the local level, come with a level of certainty and probability. The further we look into the future, the more extraneous factors are unknown – for example, will global policy succeed in bringing down greenhouse emissions? Or will these keep increasing, which will necessitate planning for worst-case scenarios?
Add to this the questions around legal risk, financing adaptation measures, accommodating community views and so on, and the task is daunting.
That’s the thinking behind CoastAdapt – the first national attempt to create a platform that brings together a range of data, tools and research that have been developing and growing over the last decade. As well as maps and case studies, we’ve also built an adaptation planning framework (Coastal Climate Adaptation Decision Support) and set up an online forum for people to ask questions, exchange ideas and even pose questions to our panel of experts.
Sarah Boulter is research fellow, National Climate Change Adaptation Research Facility, Griffith University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/sarah-boulter-16628" target="_blank">here</a>.
The author would like to acknowledge the work of staff of the National Climate Change Adaptation Research Facility. CoastAdapt is in beta version and is <a href="https://www.nccarf.edu.au/CoastAdapt-beta-release" target="_blank">seeking feedback</a>. The final version will be released in early 2017.
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Coastal councils are already adapting to rising seas 

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Queensland’s Suna Island, a sub-tropical island located in the in the Great Sandy Strait, has been listed at $289,000.
Set between the Dimonds, North Maaroom, and Fraser islands, it is accessible by both boat and land.
<a href="https://www.realestate.com.au/property-residential+land-qld-great+sandy+strait-201529590" target="_blank">The 20 freehold acre island property</a> is zoned for rural residential use, with approval a secluded beachfront island home.
Real estate agent Chris Couper said there had been huge interest in the property to date. 
Couper said the current owner is a former builder and is only selling due to his age.
The island has appeared on the market a number of times throughout the years having last sold for $170,000 in 2011.
It sold at $160,000 in 1988 and $50,000 in 1994.
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Suna Island, Queensland listed at $289,000

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The residential property market in the Central Highlands incorporating the major towns of Blackwater, Emerald, Capella, Clermont, Dysart and Moranbah appears to have reached the bottom in most areas and are levelling for the time being.
The Herron Todd White valuation firm suggest if employment demand in the resource sector picks up again "history shows property values follow closely behind."
The residential property market in the Central Highlands is driven by employment demand in the local resource sector.
"Since 2012 the resource sector has gone though significant changes as coal prices continued to decline over the past four years.
"Interestingly enough, the coal price has increased slightly in the past two months," the HTW report advised.
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Emerald property prices have reached the bottom: HTW

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The Ray White Group total sales for the financial year came to $44 billion - an increase of 10 percent over the previous year.
Overall market share increased across both Australia and New Zealand.
“It was one of the golden years,” said group chairman, Brian White. 
He said prospects for 2017 remain positive and the signs of the traditional surge in spring time listings are apparent.
"As an indication, Ray White Double Bay’s first spring auction event, scheduled for 29 August, has a record number of properties going to auction.
“The feature of both the markets in Australia and New Zealand is in the inner city property markets.
"Perhaps the biggest generational change.
"The previous overwhelming preference for families to move to the newer suburbs has, to a degree, been reversed as the inner city community facilities and services become more developed,” Mr White said.
The group settled 74,000 transactions which was 5% up on the previous year.
It resulted in the posting an 8 per cent increase in full-year gross fee income to $1.11 billion.
The result includes all residential and commercial transaction fees, but excludes revenue from the group's mortgage origination business, Loan Market.
 
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Ray White posts 10 percent rise to $44 billion in financial year sales

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The Australian Financial Review has obtained a leaked letter highlighting the concerns of franchisees at the listed real estate group McGrath.
The March letter was sent to management outlining a range of concerns about the outlook for the company.
The group of 13 McGrath franchisees said they were supporters of management, but warned of the need for investment in customer management software.
They complained of an increase in franchise fees despite head office running a poorly performing system.
They also complained that the brand's marketing "needs to show understanding for different markets and adapt much quicker."
It suggested the franchise services team lacked autonomy to make decisions, leaving simple requests taking "over two weeks and more difficult ones six months or more."
They asked for an overhaul of the recently relaunched company website which is viewed by users as pretty but disfunctional.
The letter preceded the appointment by the ASX-listed company of former Chandler Macleod boss Cameron Judson as its joint chief executive in July, alongside founder John McGrath.
John McGrath stepped down as chief executive last week, assuming the role of executive director. 
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McGrath offices complain about website relaunch

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The Fingal Head, NSW home of North coast architect Paul Uhlmann and his wife, Rebecca, owner of wedding floral specialists Rose Apple Flowers, has been listed for sale.
It comes with $2.5 million hopes with the couple planning to head into the hinterland.
<a href="https://www.sophiecarter.com/buying/NSW/Northern-Rivers/Fingal-Head/House/1P0288" target="_blank">Their five-bedroom property</a> is a split-level house, completed in 2008, that takes full advantage of its setting on a peninsula between river and ocean.
The award-winning architect's house was designed around a northern outdoor space in its “L” shaped layout with plenty of louvre windows for ventilation.
Around $1 million was spent building the home after the 500 sqm block cost $900,000.
The Bambery Street home is listed with Sophie Carter of Sophie Carter Exclusive Properties who are marketing it as just a short drive to the beaches of Kingscliff, Casuarina and Coolangatta.
Uhlmann has been in practice for three decades.
This article was first published in the Sunday Telegraph.
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Fingal Head home listed by architect Paul Uhlmann

A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

[smartcode_project:default project_id=134974 project_image_fid=5427]

The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

[smartcode_project:default project_id=134974 project_image_fid=5421]

The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

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Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

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The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

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Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

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Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

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For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

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The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

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Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

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Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

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Jonathan Chancellor

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