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The acclaimed New Zealand screenwriter, producer and director Dame Jane Campion is selling her Tamarama apartment.
She bought the 241 sqm investment property for $1.2 million in 2001.  
The listing comes after Campion confirmed she would be co-directing and co-writing a second season of drama series Top of the Lake with the action to be filmed in Sydney and Hong Kong.
<a href="https://www.realestate.com.au/property-apartment-nsw-tamarama-121964138" target="_blank">Listed by Bethwyn Richards of McGrath for March 19 auction</a>, the property has three bedrooms, two bathrooms and numerous outdoor terraces and deckings.
Jane rose to fame through a series of short films before her feature debut with Sweetie in 1989.
She became the first female to win the Cannes Film Festivals most prestigious prize the Palme d'Or in 1994 for her film 'The Piano' which also secured an Academy Award for best original screen play.
Campion's Castlecrag residence, designed by Alex Popov, was sold in 2008.
This article was first published in the Sunday Telegraph.
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Film producer Jane Campion lists in Tamarama

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Residential property investment is going to be a political football during 2016, right up to the election and then beyond.
Just which way the investment herd heads will unfold but property markets don't like uncertainty.
As our politicians dwell on how to tax property investors, many will pause their decision making.
Yes some might rush in ahead of any change, but more likely there could be a flight of capital away from rental housing at the very time when the early 2016 sharemarket turmoil was likely to attract investment towards property.
We have a scenario where both the Turnbull Government and Shorten opposition work have mooted significant changes that will reduce tax benefits arising from property investment.
Both major parties seem intent to end the longstanding negative gearing arrangements that have been in place since the Hawke/Keating Government days.
The opposition has also signalled it intends changing the capital gains tax benefits that have been their since the Howard-Costello government, ie halving from 50 per cent to 25 per cent the capital gains tax deduction for investors who sell a property after holding it for at least 12 months.
The Turnbull government is pursuing negative gearers after tentative plans for an increased GST were virtually ditched as too hard.
Then Bill Shorten announced that a Labor government, if elected, would change the rules so that only new homes purchased after July 1, 2017, could be negatively geared.
Existing investors would supposedly not be affected by the grandfathered tax change, but that ignores the disappearance of the potential investor buyer pool into new housing and leaving just owner occupiers to compete for the established home rental offering. 
While the Turnbull government has rejected Labor's policy to restrict negative gearing to new properties, it seemingly plans to target high-end and professional investors by either capping the number of properties that can be geared or limiting the annual tax deductions of which can be claimed.
Earlier this month the Property Council of Australia released data on the number of negatively geared voters in the most marginal seats and threatened a campaign in Labor and Liberal marginal seats should negative gearing be touched.
Their data indicated over 430,000 Australians who negative gear an investment property live in marginal seats held by the Government and the Opposition.
The 10 most marginal Coalition seats have an average of 8,181 investment property owners and the 10 most marginal Labor seats have an average of 8,357 property owners. 
Federal Liberal Craig Laundy in Barton has over 11,000 with a stake in the outcome. Opposition treasury spokeperson Chris Bowen has 7400 negative gearers in his Sydney electorate.
“Mums and dads see owning an investment property as a way of securing their long term prosperity," said Property Council chief executive Ken Morrison.
“To play with negative gearing is to play with the financial futures of 430,000 people who live in the most marginal seats."
This article was first published in the Saturday Daily Telegraph.
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Property investment becomes a political football

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The headlines around the negative gearing policy uncertainty failed to unnerve Sydney's nascent 2016 auction property revival.
The auction success rate sat well above 70 percent for the third successive weekend as earlybird sellers secured strong buyer interest.
When it came to affordability, there were however just the four reported sales at $500,000 or less across Sydney.
A $488,000 sale of a two bedroom fibro at Bradbury was the cheapest result.
"It sold to an investor," Richardson &amp; Wrench Campbelltown agent Michelle Balabka said.
The biggest weekend sale under the hammer was $3.68 million at Curl Curl.
The five bedroom Curl Curl offering had a $3.5 million to $3.85 million price guide (above).
There was also a $3,675,000 South Coogee six bedroom house sale.
"The Sydney market is back in full swing," the auctioneer Damien Cooley said after the result.
There were private treaty sales of an $8 million plus harbourfront in Northbridge and a $6 million sale in Cammeray.
The weekend had 539 homes scheduled to go under the hammer, which was well up on the 336 auctioned last weekend, CoreLogic RP Data noted but below the same weekend last year.
With 80 auctions the inner west the was busiest district followed by the east, the south and the upper north shore all with 70 or more.
Manly, Mosman and Randwick were the busiest weekend auction suburbs.
The lower auction numbers are securing higher clearance rates with the fewer choices increasing competition for available properties, agents suggest.
There is confidence in Sydney eastern suburbs property, says Bob Guth at BradfieldCleary, following a perfect 10 out of 10 at the agency's first auctions of the year.
Bob Guth suggested the "very best time" to market Eastern Suburbs real estate was February when there is less competition.
After the federal opposition's policy was unveiled last weekend - restricting negative gearing to new properties and reducing capital gains discounts available to investors - the Prime Minister Malcolm Turnbull warned " this should put concern into the minds of every single house owner".
Home owners would see the value of the family home "smashed" under Labor's "very blunt, very crude" negative gearing policy, Malcolm Turnbull warned.
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Negative gearing policy debate fails to unnerve the market

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A nondescript $5.71 million Kew home topped the nation's weekend auction results with most of the six bidders planning to bulldoze the five bedroom, two storey brick home. It was built in the 1950s for the family of renowned expat Australian violinist Neville Taweel.
Just kms away from pricey 78 Sackville Street, a Brunswick offering was the nation's cheapest result.
It was the rather plain $216,000 one bedroom, single storey townhouse at 16/6 Garnet Street. Something of a pass the parcel seems to be going on it as had sold only two years ago at $229,500 and even higher at $240,000 in boomtime 2010, being a $240 a week rental in the meantime.
So all the attention fell on a contemporary Hawthorn East offering that was briefly the backdrop on the reality show, The Real Housewives of Melbourne as the rental home of Jackie Gillies, the wife of Silverchair drummer, Ben Gillies. 
A glamorous 1888 Victorian era home – with a 2010 extension by architect Steve Domoney - was their $2500 a week rental in season one on Foxtel.
Marshall White agent James Tostevin expected 2A Harcourt Street to sell for $3.5 million plus with it fetching $4,105,000 million, some $400,000 over reserve at its weekend auction.
Nothing so over the top in Sydney where the strengthening hammer success rate is mostly seeing results within the pre-auction price guidance.
The Sydney clearance rate sat well above 70 percent for the third successive weekend as earlybird sellers secured strong buyer interest.
When it came to affordability however, there were however just the four reported sales at $500,000 or less across Sydney.
A $488,000 sale of a two bedroom fibro at Bradbury, near Campbelltown, was the cheapest result with 15 Bland Street selling to an investor.
It appeared that the weekend auction buyers ignored the week-long headlines around the negative gearing policy uncertainty.
The CoreLogic RP Data capital city results pointed to a continuing or resurgent seller’s market, though auction bidders are being more measured to avoid runaway prices.
 
<a href="/images/2016/02/22/Screen%20Shot%202016-02-22%20at%209.28.17%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/22/Screen%20Shot%202016-02-22%20at%209.28.17%20AM.png" alt="">
Sydney ranked as the strongest mainland capital city over the past week with a 77 per cent success rate.
The scarcity of early February listings has seen the clearance rate bounce off the canvas, well up on being in the 50s last December.
Next strongest mainland capital over the past week was Melbourne at 73 per cent. Melbourne sales yesterday included Helikon, the ornate 1890s Albert Park home of retired radio medico personality Dr Paul Nisselle – broadcaster on 3LO from the early 1980s - which fetched $2.72 million.
It last traded at $1.89 million in 2009.
But Michael Wipfli, the current day Nova FM breakfast presenter, couldn't sell his Armadale home (above) which was passed in at $1.8 million. It last traded at $1.48 million in 2010, when listed with $1.25 million to $1.35 million hopes.
It had been listed through Jellis Craig agent Simon Dale with price expectations above $1.7 million, and now listed at $1.95 million.
Last week auction volumes almost doubled in Canberra, with 104 homes taken to auction. Despite the rise in auction activity, Canberra’s preliminary clearance rate has remained steady at 71, now with four consecutive weeks of clearance rates above the 70 per cent mark, similar to early 2015.
The overall national clearance rate of 72 per cent compared to last year’s results of 77 per cent, with Brisbane's results especially dragging the national figure down. 
But only Adelaide's 70 percent clearance rate was above the same level last year.
There are 1200 plus auctions scheduled for next weekend in Melbourne, suggesting an interesting few weeks as auction stock levels face the traditional pre-Easter escalation. Sydney sees 1000 plus weeks coming up.
"Auction activity will continue to ramp up which will test the resilience of auction markets on higher volumes," CoreLogic RP Data's Kevin Brogan noted.
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Nova's Michael Wipfli fails to sell in Armadale

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The NSW Central Coast house market was peaking, according to the latest HTW property clock.
Horsham is the another city to now sit at the peak.
Melbourne, Newscatle and Dubbo remain at the peak. 
HTW suggest the Central Coast’s strong market in 2015 was undoubtedly underpinned by Sydney based buyers finding themselves unable to compete in the Sydney market.
"This resulted in better than average rises in property values across the region," HTW suggested.
Although afte a strong period leading to October, the year ended with a 'bit of a whimper" for the region’s market.
"Sales volumes fell somewhat and we really didn’t see any continuing increases in values.
What HTW did notice however was:
• The sudden departure of Asian buyers having a noticeable effect on sale volumes;
• Purchase prices being nearer and sometimes below indicated asking prices as opposed to new records being set every other day;
• Buyers being a little more selective and acting with slightly less urgency;
• The much hyped talk of new residential unit developments in Gosford and other regionally significant developments falling away on whispers that presales and interest were less than expected and project finance was difficult to secure;
• Increased positivity in the retail sector that had been missing for the past several end of year periods.
HTW anticipate if previous property cycles are to be repeated, then the region’s market will be slowing as one property cycle ends and another starts.
"We have felt the market has been at its peak for some time now and a slowdown around the corner, but the peak lasted longer than we expected.
"This is the main difference between this cycle which has been building slowly by comparison over several years and is more controlled as opposed to previous cycles which experienced faster rises over shorter periods.
"Confidence in the market is a good thing, but we think that 2016 should be a year where buyers and investors will need to be more pragmatic and research especially well.
HTW think that while some of the region’s 160 suburbs will see a fall in values this year, most will continue to trade close to or near current values, but with reduced volumes.
Areas likely to see a drop in value will be those where values increased well beyond levels that we as valuers were comfortable with.
"This include areas such as Umina Beach and Woy Woy where values have risen extraordinarily (between 47% and 49% over the past three years) to the point where they are now in direct competition with some Sydney suburbs and a wane in demand seems inevitable as buyers switch their attention to other suburbs.
"It may also be time to be wary of Wyoming and Kariong where residential values have risen quite significantly (upwards of 10% over a twelve month period) and need time to settle down again.
"Something for buyers to be wary of is the unit market in Gosford where close to 700 units have been approved recently.
"Many sites are still in the pre-construction phase and if too many start and finish in a short time frame, then we will no doubt be in an oversupply situation which tends to play havoc with the market."
HTW suggest another sign that confidence has returned to the market is the presence of buyers at the higher end of the region’s value range.
"Absent for some time, some say the return of these buyers provides a restorative factor in the market.
"Suburbs likely to see increased levels of popularity and well worth watching include Pearl Beach, Avoca Beach, Narara, Niagara Park, Bateau Bay and Budgewoi.
"These are suburbs that inexplicably seem to have escaped the attention of buyers during the recent period of increased market activity.
"Two areas well worth a watch and act approach include Woongarrah and Hamlyn Terrace.
"These are suburbs considered attractive to a range of purchasers including first home buyers, young families, commuters and investors due to their affordability levels and good local infrastructure." 
Canberra apartments have joined the other capitals, Brisbane and Melbourne at a market peak in February, according to the latest HTW property clock.
 
<a href="/images/2016/02/08/700_HTW_Houses.jpg" target="_blank">Click here to enlarge</a>.
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NSW Central Coast houses at top of market: HTW property clock

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Following an ASIC investigation, Sarah Jane Busteed has appeared in the Downing Centre Local Court in Sydney charged with three counts of dishonestly obtaining a financial advantage by deception and one count of dealing with over $100,000 that was the proceeds of crime. 
The New South Wales woman has appeared in court on four charges, in relation to self-managed superannuation fund (SMSF) property purchases. 
The ASIC investigation into Busteed's conduct in dealing with members of SMSFs which were undertaking property purchases, prompted ASIC to allege that Busteed dishonestly obtained monies from those SMSFs.
Busteed is also alleged to have dealt with monies obtained from a SMSF which are believed to be proceeds of crime. 
Busteed was not required to enter a plea and was granted conditional bail. The matter is listed for return at the Downing Centre Local Court on 12 April 2016. 
Under the New South Wales Crime Act, the charges of dishonestly obtaining a financial advantage by deception each carry a maximum penalty of 10 years imprisonment, while under the Commonwealth Criminal Code the charge of dealing in the proceeds of crime carries a maximum penalty of 20 years imprisonment or a $216,000 fine or both.
The investigation into Busteed’s conduct was carried out by ASIC’s SMSF Taskforce, which was established in 2012 in response to the growing popularity of SMSFs.
The Commonwealth Director of Public Prosecutions is prosecuting the charges against Busteed stemming from the ASIC investigation, while separate charges including dishonestly obtaining financial advantage have been bought against Busteed by the NSW Police and NSW Director of Public Prosecutions.
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SMSF deception charges follows ASIC investigation

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Singer songwriter Melissa Higgins has listed her warehouse conversion in Melbourne's Abbotsford.
The red-brick residence has three bedrooms, two bathrooms, a study and an outdoor entertaining terrace.
Architecturally designed, the converted warehouse has maintained original features such as high herringbone ceilings and exposed Oregon pillars.
Higgins bought the property for $1.825 million in 2012. More than $2.1 million is expected.
<a href="https://kayburton.com.au/properties/view/353449-21a-mollison-street-abbotsford-3067-sale" target="_blank">Expressions of interest</a> close through Kay &amp; Burton listing agent Sarah Case on February 29.
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Melissa 'Missy' Higgins has listed her warehouse conversion

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Acclaimed architect Virginia Kerridge has sold her own South Coogee home having bought nearby for $2.2 million.
The house with apartment<a href="https://www.modernhouse.co/listings/kerridge-house-apartment/" target="_blank"> was completed in 2011 after a six year build.</a><a href="https://www.modernhouse.co/listings/kerridge-house-apartment/" style="line-height: 1.3em;"> </a>
It was after paying $1.2 million in 2004, that she gradually transformed her 1930s duplex into a pair of contemporary dwellings.
Lots of blackbean timber and polished concrete overlooking gardens designed by landscape architect Jane Irwin.
The Rainbow Street Kerridge house sold through Marcus Lloyd-Jones, the selling agent from Modern House and was listed at $3 million plus.
Kerridge, who graduated from university in 1984, was described by the editor of Architecture Australia, Davina Jackson as "the leading woman private practitioner in Sydney."
This article was first published in the Saturday Daily Telegraph. 
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Virginia Kerridge sells in South Coogee

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<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
GUEST OBSERVER
Much of the current tax debate is mangled by poor analysis and misconceptions. Let’s consider three topics: “bracket creep”; corporate tax rates; and negative gearing.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
The fact that inflation, more precisely wages growth, pushes individuals into higher marginal tax brackets has been advanced as the rationale for a variety of tax proposals. But the unacknowledged elephant in the room is the simple, rational, response to bracket creep – index the tax scales.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
That is, if inflation was 5% over the past year and the 37% marginal tax rate previously started at an income threshold of $80,000, that threshold would be increased to $84,000 (that is, an increase of 5%).
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
It is legislatively and administratively simple. A low inflation environment makes this the ideal time to implement such a beneficial change which can counter profligacy of future governments, should high inflation return and induce higher tax revenues from bracket creep.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
That one is simple. The real issues in the corporate tax rate debate, where many advocate lowering the rate, are more subtle – and missed by most of those advocates. Under our dividend imputation tax system, company tax payments are offset by lower investor tax payments when earnings are paid out as franked dividends to Australian investors. For such investors, lowering the company tax rate has (subject to a few caveats) no effect on their after tax returns from investment.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
Who would benefit? Foreign-owned companies for one, for which the after-tax returns from Australian operations are increased (assuming they haven’t structured affairs to avoid tax anyway). That might induce more of them to establish or expand operations in Australia – although it should be stressed that our corporate tax rate, while above that of some Asian neighbours, is below that of a number of advanced countries. So arguments that our corporate tax rate is “uncompetitive” do not obviously cut the mustard.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
Other beneficiaries would include private Australian companies owned by wealthy individuals on (hopefully) high marginal tax rates. For them, there are significant tax benefits from retaining earnings in the company rather than paying franked dividends.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
Doing so avoids the extra tax payable at the personal level (after allowing for franking credits) due to their marginal tax rate exceeding the company rate. Instead retention of earnings (and franking credits) generates capital gains which may eventually be taxed at the concessional capital gains tax rate. So lowering the company tax rate would benefit these wealthy individuals (and does nothing for small private companies struggling to make a taxable profit).
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
A third set of beneficiaries might be Australian companies – but the source of any such presumed benefit is subtle. A benefit would arise if the cost of equity capital was reduced through a lower company tax rate.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
As explained above, there is unlikely to be any such effect from a change in the required rate of return of Australian investors. Foreign investors might lower their required rates of return, but that is, at least, debatable.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
Of course, one doesn’t need to lower the company tax rate to achieve this – a rebate of tax on dividends paid to foreign investors would achieve the same outcome. And the political resistance that would undoubtedly occur in response to such a proposal should indicate that relying on this argument for reducing company tax is untenable. And remember, our company tax rate is in the middle of the pack for advanced economies.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
Finally, negative gearing. There is nothing wrong with negative gearing itself (although fraught with risk due to leverage). The problem is that there are undesirable tax benefits associated with it, arising from claiming current tax deductions for interest paid on financing an investment on which tax on returns will be deferred and at a concessional rate.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
The solution? Removing concessional capital gains tax (or at least returning to full taxation of real capital gains) is part of the solution. But it is only part – because deferring tax payments until realisation of the asset sale implies a lower effective tax rate.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
It would not be feasible to tax capital gains as they accrue, given the adverse cash flow consequences for investors. However, we could use a variant of the tax treatment of companies with carry forward tax losses, which are compounded up at the government bond rate to keep their real value until usable.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
Quarantining currently deductible interest costs on negative gearing to offsetting income earned on the investment, plus carry forward of additional unused interest costs is one way to go. When the investment is eventually sold, or when income exceeds interest expense, those accumulated unused costs could be claimed for tax purposes.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
This is not administratively complex, would be fairer for other taxpayers who ultimately pay for the concessions, and might reduce incentives for excessively leveraged investments.
Kevin Davis is research director of Australian Centre for Financial Studies and professor of Finance at Melbourne and Monash Universities, Australian Centre for Financial Studies and author for The Conversation.
He can be contacted <a href="https://theconversation.com/profiles/kevin-davis-3497" target="_blank">here</a>.
 
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Property 101: Understanding bracket creep, negative gearing and corporate taxation

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GUEST OBSERVER
2016 will be the year the residential property cycle starts to ease, with growth in both pricing and development set to trend lower. 
As the residential property cycle recedes, the focus will shift to commercial property. Although investment activity is already running at a high level, interest in commercial property is set to intensify further in the year ahead. 
With pricing likely to be pushed one notch higher to reach record levels, emphasis will turn to increasing returns through improvements in rental levels or a property’s net operating income. Each commercial property sector and market offers very different growth potential.
<a href="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.23.40%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.23.40%20PM.png" alt="">
Residential development set to ease 
Recent years have seen an unprecedented rise in residential development, driven by high rise and high density apartments. The extraordinary growth across the industry reflects a surge in investor activity and a significant shift to apartment living in all of Australia’s major cities. 
However, apartment development is likely to slow this year ― following a trend that emerged in the middle of 2015, when approvals started to drop. A decline in approvalsasshown in Chart 1, is typically a signal the commencement of new construction activity will ease within six to 12 months. 
With fewer approvals, commencements have indeed tapered, although they’ve plateaued at a high level. This is likely to see buoyant construction activity continue into 2017.
During the next phase of this unwinding process, as projects are completed, fewer will commence to take their place. The overall effect will be an eventual reduction in development activity which is likely to then continue at a more sustainable level.
Ultimately, this means some of the developments approved over the last few years will not proceed in this cycle. Owners may choose to sell those sites, providing an opportunity for others to develop uses more aligned to the changing demand-side conditions of 2016.
Brisbane and Melbourne to lead site sales
The markets which have pushed hardest in apartment approval and development over the last few years are most likely to witness site sales in 2016. Brisbane and Melbourne stand out as the cities where developers are most likely to sell sites, as markets with sufficient demand for alternative uses in both the short and long term.
Although the Australian economy is forecast to grow below trend in 2016, underlying demand conditions in some sectors are sufficient to support alternative inner-city uses provided for in new development outlined in Chart 2.
Tourism-related activity is growing on the back of the lower value of the Australian dollar and high growth in tourist arrivals from Asia, particularly China. This is leading to demand for more tourist accommodation to cater for various consumer markets.
Similarly, demand for education is enjoying steady growth, particularly for higher education from international students. Purpose-built student accommodation is considered a pre-cursor to provide for this demand. 
The easing back of the apartment development sector could be the opportunity student accommodation providers need ― enabling them to secure their desired sites in strong locations at more reasonable prices. 
Other uses may underpin development or refurbishment of existing buildings on sites previously earmarked for residential. These include boutique retail, office, medical, child care, service industrial, car parking or mixed use.
Local or State Governments may also see an opportunity in 2016 to buy sites to provide for public uses, such as schools, medical or transport-related, to better serve the large and fast-growing high density residential communities of these inner-city locations.
<a href="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.24.59%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.24.59%20PM.png" alt="">
Alternatively, existing developer-owners in these areas may look to purchase sites to consolidate properties and plan for projects in the next residential development cycle
Turning to investment
Beyond the likely shake-out in the residential development sector, interest in commercial property as an investment is expected to continue at a high level in 2016.
As uncertainty grows in global financial markets, more investors are driven to purchase quality commercial property. The start of 2016 has already been marked by volatility in markets around the world, including Australia.
With increased investment activity over the last few years, pricing has been pushed to an all-time high, across all price points. However, although prices are high, interest rates remain low making it attractive to buy quality real estate at current prices.
However, its also important at this point of the cycle to take into consideration factors which create a high quality commercial property asset, in both the short and long-term. These include:
•Strength of location for the use(s);
•Prospect of re-letting in the case of a vacancy;
•Strength of the tenant as a leasing covenant;
•Length and terms of the lease;
•Level of the rent relative to the prevailing market;
•Prospects for rent or other property income increases;
•Physical condition of the property and the need for any capital expenditure;
•Redevelopment potential;
•Land use zoning; and
•Any building operating costs which cannot be passed onto the tenant
<a href="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.26.58%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.26.58%20PM.png" alt="">
Leasing demand holds strong
Purchasing commercial investment property at a high price places greater emphasis on the ability to increase income from the property and improve future returns.
The prospect for property income growth is driven by the strength of both leasing demand for a property and its location, as well as the number of available suitable properties competing for tenant.
In 2016, the strength of leasing demand for commercial property is likely to be highest in Sydney and Melbourne. In these two cities, growth in population, employment and the economy generally is leading the country and providing the best short-term conditions to reduce market vacancy and increase rents or other property income. 
New opportunities in the mining capitals
A significant trend in 2016 will be investors turning back to consider commercial property in Perth and Brisbane. Although these two markets have been adversely impacted by the restructure of their economies as the mining sector winds back, it seems the downturn phase of this restructure is largely over.
Looking ahead, recovery is the next phase for the Western Australian and Queensland economies and their commercial property markets. This may take some years, but it looks like the worst is over –and both Perth and Brisbane are likely to enjoy an increase in investment interest and activity over the next few years.
<a href="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.28.10%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.28.10%20PM.png" alt="">
Expansion into growing markets 
Higher investment yields can be found in Adelaide and Canberra commercial property and this started to stimulate investment activity in both markets in 2015. We expect this activity to increase in 2016 as relatively higher yields will continue to be found in these markets, compared to those in larger cities.
This is also in the context of downward pressure on yields being maintained across Australian commercial property, particularly for quality assets.
There will also be opportunities to invest in commercial property in regional Australia in 2016. However the outlook in these locations varies considerably and is tied to local economic and property drivers as well as being very sensitive to tenant competition.
Those factors which contribute to a quality asset, as outlined on page 2, need to be very carefully considered and applied in smaller markets, as the level of underlying tenant demand is lower and the economies of these cities continue to be heavily impacted by industry restructure.
What does it mean for investors? 
While 2016 is expected to be a volatile year and one underpinned by an acceleration of change to property drivers, there is still plenty of opportunity to engage with the market.
The easing in high density apartment development is likely to see an increase in the sale of sites once earmarked for residential projects. These sites may provide the opportunity to offer uses to service the market created by a fast increasing population in these new high density suburbs. Ideally, shorter-term uses in existing buildings may provide the option for more intensive development in the future, when the residential development cycle strengthens once again.
In the meantime, the popularity of commercial property as an investment is set to increase further in 2016, amidst volatility of global and local financial markets. 
The challenge will be buying the right property at the right price and working to improve income returns into the short to medium-term. While the larger cities offer greater short-term possibilities in this regard, buyers need to be selective elsewhere, as the timing around improvement in the fundamentals is less clear.
 
Kevin Stanley is head of property strategy and research, Corporate Financial Services, <a href="https://www.commbank.com.au/" target="_blank">Commonwealth Bank</a>.
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2016 the year the residential property cycle starts to ease: Kevin Stanley

Leading Brisbane developer <a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group (CPG)</a> has completed and settled $450 million worth of apartments at Monarch Residences in Toowong, marking one of Brisbane’s most significant and prestigious riverfront residential completions in recent years.

The final apartment at Monarch sold at auction on the 30th May for $4.1m.&nbsp;

The milestone has been marked at a ribbon-cutting ceremony at <a href="https://www.apartments.com.au/buildings/monarch-residences-toowong-600-coronation-drive-toowong-qld-4066">Monarch Residences</a>, with Cr Penny Wolff highlighting the importance of completing major residential projects to boost the city’s much-needed housing supply.

The 224 apartments, delivered across two 15-level towers, are now officially in the hands of owners, including Brisbane downsizers, families and professionals who have traded traditional houses for apartment living. The completion underscores sustained demand for absolute riverfront living in Brisbane’s inner west.

<img alt="$450M Monarch Residences sells out as Brisbane riverfront demand surges" data-entity-type="file" data-entity-uuid="56ae05e9-092f-41f0-98a1-a10984fdd171" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ROBNN_MONARCHLAUNCHEVENT-131.jpg?VersionId=p76J6weGZqseNrE6aOAjmAHUah.y65Gd" />

Monarch Residences was planned and delivered over four years on a 1.2-hectare parcel with more than 130 metres of direct frontage to the Brisbane River, occupying one of the last remaining true riverfront sites of its scale and orientation within close proximity to the CBD. The site has been transformed from an underutilised, derelict block of land, into a thriving residential precinct with Middenbury House at its centre.&nbsp;

Consolidated Properties Group CEO and Chairman Don O’Rorke says the project’s completion represents the culmination of years of careful planning, design collaboration, market conviction and outstanding team delivery.

“We announced Monarch Residences in late 2021 and it’s been one of the most strongly received residential projects in our 45-year history,” Mr O’Rorke said.

"We are incredibly grateful to the outstanding team who helped bring Monarch Residences to life. A special thank you to Hutchinson Builders and their hardworking labour force for delivering a development of exceptional quality that our residents will be proud to call home for many years to come.

“Brisbane City Council and Titles Queensland also played a huge role in getting residents into their homes early through the pilot programs they ran to speed up the approval processes. They understand the challenges of the housing industry and are doing something about it.”&nbsp;

[smartcode_project:default project_id=113455 project_image_fid=211466]

Consolidated Properties Group Head of Residential, James MacGinley said Monarch Residences showed what could be achieved when private industry and government worked together to deliver new housing for Brisbane.

“Monarch Residences has delivered more than 200 new apartments in Brisbane’s inner-west at a time when additional housing supply is critically important,” MacGinley said.

“It’s fantastic to see residents now moving into this landmark riverfront development, which reflects the strength of collaboration between Council and the project team throughout delivery.

“All government agencies played a significant hand in achieving a fast-tracked outcome for Monarch Residences with Brisbane City Council, Urban Utilities, Energex and Titles Queensland assisted to remove hurdles to achieve settlements.”

[smartcode_project:default project_id=113455 project_image_fid=302326]

With Monarch Residences now complete, CPG has launched River Living, a bespoke on-site property management service designed to enhance the resident experience. The service will support all future CPG residential projects, including the recently announced <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> in Yeerongpilly and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a> in Newstead.

The completion also marks the opening of a prized leasing opportunity at the heritage-listed Middenbury House, built in 1865 and which has been carefully restored and integrated into the broader masterplan.&nbsp;

CPG said the adaptive reuse of the landmark riverfront residence presents an opportunity to introduce a complementary boutique tenancy that respects the site’s historic significance while activating the riverfront frontage.

[smartcode_project:default project_id=113455 project_image_fid=211495]

Colliers Director of Residential Andrew Scriven said the move-in phase highlights continued demand for completed premium riverfront apartments in Brisbane.

“Residents are now experiencing firsthand the scale, craftsmanship and irreplaceable riverfront position that Monarch offers,” Scriven said.

“Opportunities to secure a brand-new, completed residence on Brisbane’s absolute riverfront are exceptionally rare. Combined with the proven track record of Consolidated Properties Group and Hutchinson Builders, combined with a design vision brought to life by some of Australia’s leading architects and designers, Monarch represents a unique opportunity to purchase a home of enduring quality and prestige.”

Monarch Residences was designed in collaboration with Melbourne-based architect Wardle Studio, alongside leading national practice Cottee Parker, with construction delivered by Hutchinson Builders.

[smartcode_project_cta:default project_id=113455]

Joel Robinson

Consolidated Properties Group sells out Monarch Residences as Brisbane riverfront demand surges

An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Jonathan Chancellor

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