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Written by Holly Westcott, Senior New Development Specialist at Netstrata, and Robert Monteath, Director at Monteath &amp; Powys.

INTRODUCTION 

It is very common in the industry today for <a href="/developments">new development</a> projects to incorporate a variety of different components such as residential apartments, retail shops, food and beverage stores, commercial offices and even local council purpose-built spaces such as youth centres and libraries. 

In the past these entities were often kept separate, however, it is now common practice to have a mix of different uses within the same building and the interests of all those uses must be considered during the subdivision of the building. 

It is therefore important that developers and their teams have a basic understanding of how the development will operate and function after its completion. It is paramount that the interests of all of the different users of the building are equally safeguarded. 

The first step in the right direction is to engage specialist strata consultants, lawyers and a surveyor to address the question “how can I best subdivide my project to ensure everyone is happy?” To answer this question, it is necessary to consider the two most common ways in which the building can be subdivided. They are: 

1. Mixed-use single strata scheme; and 
2. A stratum subdivision of the building with then one or more strata schemes. 

<a href="/news/how-living-in-a-mixed-use-precinct-can-benefit-you">MIXED-USE</a> SINGLE STRATA SCHEME 

To subdivide a building into strata units has been possible for many years. In the past buildings built for a sole purpose be it residential, commercial or industrial have been subdivided by a single strata plan. Under certain circumstances, it is possible to successfully subdivide a mixed-use building by a single strata plan. 

Such circumstances are when a predominantly residential building contains one or two small commercial or retail tenancies. See Diagram No 1. 

In such a building, the interests of the residential and commercial occupiers can be addressed in the strata by-laws. These interests include: 

<ul>
<li>For the commercial owner to use some of the outdoor common property for seating. </li>
	<li>The commercial owners right to affix signage to the exterior of the building. </li>
	<li>For the separation of costs: </li>
	<li class="rteindent1">For the kitchen exhaust or grease arrestor for the commercial operator to be maintained solely by the commercial operator. </li>
	<li class="rteindent1">If the ground floor commercial operator does not use the lift, then that operator is not required to pay for the operation and maintenance of the lift. </li>
	<li>The common property facilities provided for the residential occupiers such as barbecue area, swimming pool and gymnasium are only to be used by the residential occupiers. </li>
</ul>
If the by-laws are drafted properly, then the operational concerns and cost separation can be effectively mitigated for both residential and retail / commercial purchasers. 

Such by-laws can be drafted by very experienced strata consultants and specialist strata lawyers. Due to the current conveyancing disclosure laws, it is imperative that a developer engages with these professionals prior to marketing the development. <a href="/guides/how-to-make-strata-fees-work-in-your-favour">The strata consultant</a> can review the architectural plans for the building and determine the appropriate by-laws to be drafted so that all owners and occupiers of the building have their rights protected. 

The strata scheme is then governed by the Owners Corporation in accordance with the Strata Schemes Management Act 2015 and the schemes by-laws, once registered. 

STRATUM SUBDIVISION THEN STRATA SUBDIVISION OF A BUILDING 

The other method of subdividing a building includes a stratum subdivision of the building followed by subsequent strata subdivisions of parts of the building. This method of subdivision is typically used where a building has a large residential component as well as a large commercial or retail component. These buildings may contain a shopping centre with a food court and / or several floors of offices. This type of building is likely to have a loading dock. Diagram No 2 is a cross-section of such a building. A stratum subdivision can also be used for smaller developments or developments with smaller commercial or retail components, however a developer should seek the advice from their specialist team when weighing up the pros and cons. 

To enable the different needs of the various occupants to be accommodated, a large mixed-use building can be subdivided into stratum lots, each of which can be sold or further subdivided by a strata scheme. Diagram No 2 is a multi-storey building on a city block containing a car park with two underground levels, retail outlets at ground level, followed by four levels of office space and finally, 11 floors of residential units at the top of the building. The residential units and some of the car park may form a separate strata scheme subdividing one of the stratum lots while leases may be created for the commercial offices and / or shops comprising the other stratum lots. 

As mentioned above, the ongoing operation of a strata plan is governed by the <a href="/expert-insights/buying/an-owners-corporation-s-response-to-dealing-with-covid-19">Owners Corporation, the Strata Schemes Managemen</a>t Act 2015 and the schemes registered by-laws. 

When a building is subdivided by a stratum plan (then strata plans), the overall building is governed by a Building Management Committee and the Strata Management Statement which is registered at NSW Land Registry Services. Each owner of a stratum lot is a member of the Building Management Committee which manages the building in accordance with the Strata Management Statement. 

Just as an Owners Corporation looks after the common property within a strata scheme, a Building Management Committee looks after the shared facilities within a stratum subdivided building. 

Shared facilities are those parts of the building which are used by most, if not all, of the owners and occupiers in the building. For example, if there is a basement car park containing the car parks for all of the stratum lot owners, then the entrance and access down to the basement car parks would be classified as a shared facility. Other examples of shared facilities would be the integrated fire security system for the building, the insurance of the entire building, the disposal of waste, the main electrical switchboard, the main telecommunication room etc. 

The drafting of the <a href="/news/taking-an-active-approach-to-strata-services">Strata Management</a> Statement and its schedule of shared facilities requires a great deal of care and involvement of specialist strata consultants and lawyers. 

Before such a project is marketed, it is essential that these consultants are called upon to review the architectural design plans in order to make recommendations as to: 

<ul>
<li>How many stratum lots are required in the building and the boundaries of these stratum lots. </li>
	<li>Determine the shared facilities for the building and allocate the percentage of costs that each lot will contribute for the operation of those shared facilities. </li>
	<li>Prepare the Strata Management Statement. </li>
	<li>Prepare the subsequent strata plans and strata by-laws for each of the stratum lots to be subdivided by strata plans. </li>
</ul>
CONCLUSION 

Every project is different. In determining what is best for you or your client, you must consider a cost benefit analysis, taking into consideration the nature of your project and what outcomes you are hoping to achieve. 

Some considerations include: 

<ul>
<li>Flexibility – is it important to have the option to sell your commercial or retail lots together in one line or individually? Do you have any major anchor tenants who have specific requirements as part of their operations which need to be addressed? </li>
	<li>Timing – is it important to you to be able to deliver your development in different stages and to make changes within those stages? </li>
	<li>Cost – what allowances have you made within your budget for the required consultants and documentation required? You may need to weigh up the different costs of engaging the right consultants to prepare the various management documents and the ongoing management costs once complete. </li>
	<li>Disclosure – have you already marketed your project? Under the new disclosure requirements in the <a href="/guides/2019/06/17/urbans-first-home-buyer-guide">Conveyancing</a> Act, it is important to assess what has already been disclosed to the market and what implications there may be for changes to your titling strategy which may result in a perceived ‘material change’. </li>
</ul>
The end user or customer must be considered when deciding your titling strategy, and it is very important that you have engaged the right consultancy team to ensure that the considerations of these important stakeholders are adequately thought through early, to ensure the ongoing success of your project upon completion.
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Nick Dante

Subdividing a Mixed-Use Building – Key considerations for Developers & Project teams

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If you're looking for an investment property which will appeal to families, choosing the type of property in the right suburb will make a difference in the long run.

The question is what are the key elements that make a family friendly suburb appealing to <a href="/developments/wa">Western Australians?</a> And what are some top considerations that families look for when they evaluate buying into a suburb? 

Schools (and childcare)

Proximity and catchment areas of well reputed schools with education facilities from kindergarten, primary and secondary schools is a key factor when a family decides to purchase a home. This also includes child-care facilities available nearby. Suburbs with top performing schools often fetch higher priced properties. 

Closeness to Natural Recreation Areas e.g. Water Bodies/ Reserves

Affordable beach-side living is one of the <a href="/developments/perth-wa">many things that Perth</a> is just blessed with. Suburbs closest to the beach or Swan River often fetch the best prices. There are also lakes and ponds that provide the perfect family play and picnic areas. 

One of the main reasons that families prefer residential areas with a water body is the number of water activities that are provided. From young children to adults, beaches, rivers and lakes provide active fun as well as a great lifestyle e.g. surfing, body boarding, wake boarding, waddling, snorkelling, canoeing, swimming, beach volley and so much more.

Another popular feature is being close to bushland or reserves where families can go for long walks or bicycle rides and explore nature.

Community Facilities

Shopping Centres, Post Offices, Libraries and a Community Centre – all these play an important role in the consideration of suburb to live in. These conveniences will help support the busy needs of families. 

Community centres also provide a way for local families to connect and there are activities promoted by local councils which give social involvement opportunities for the young and elderly alike.

Suburbs which host functions at the local council centre allows for opportunities for families from the neighbourhood to meet and get to know one another. Some popular activities include reading groups for young children, children Lego clubs, local farmers markets, fetes, fairs and other functions as well. Some libraries host book clubs, art classes, writing classes and basic computer classes for free to help their community.

Another added bonus would be having Hospitals and Medical Centres located close by in the event of necessity. 

Especially important for young families are the playground infrastructure. How many playgrounds are there in the suburb? How accessible are they from the residence? Children love to play at playgrounds and or hit balls at parks - this is a necessity for healthy growth. Parents can catch up for chats or go for a beautiful leisurely walk in the park, then catch up for a coffee nearby. 

Crime Activity - Is the suburb safe? 

Safety and security are key features of a family-friendly suburb. In reference to the crime statistics (<a href="https://www.police.wa.gov.au/Crime">https://www.police.wa.gov.au/Crime</a>), you can find out what the person/ property crime rate ratios are and choose investing in certain safer neighbourhoods. As safety is of paramount importance, this list gives you access to specific neighbourhoods (<a href="https://www.perthcrimemap.com/">https://www.perthcrimemap.com</a>/) and how safe it is.

Public Transport

Although this may not be top on the list at first glance but rises in importance as children become teenagers and gain independence by travelling to school by busses and trains. Connectivity to major transportation line should always be considered.

Finally, it is important to bear in mind, the community itself is an important factor of consideration. 

If you would like to know more about the top choices for family suburbs in Perth, feel free to contact us for more information.

<h2>Properties for sale in Perth:</h2>

[smartcode_project:default project_id=7854]

[smartcode_project:default project_id=7836]

[smartcode_project:default project_id=26734]
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How to locate the right family suburb in Perth

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If you’ve been ordering more Uber Eats and doing extra online shopping during isolation, you’re not alone. But did you know that this could impact your ability to secure a home loan in the future? Following the Banking Royal Commission, mortgage lenders have been more closely scrutising home loan applications to ensure applicants would be able to make their monthly repayments without impacting their lifestyle negatively. Lenders are analysing the use of buy now, pay later services such as Afterpay, and the spending habits on platforms including eBay and Uber Eats accounts, as well as Netflix, Stan and other online streaming subscriptions. All services that have surged in popularity since social distancing measures were introduced as a result of the COVID-19 pandemic.

Aussies who regularly order takeaway on a Friday night may want to reassess their habits, as frequency of transactions is one aspect lenders consider when assessing home loan eligibility. Recent survey data reveals that 43% of Aussies don’t like cooking at home, with only half saying they cook at home on a daily basis. This is concerning, as banks are able to access and share consumer-approved digital banking data and transaction records under the new open data system that was introduced last July. While lenders traditionally analysed our income, savings, credit score, debts, assets and liabilities when considering mortgage applications, our regular spending and recurring payments – such as gym memberships and streaming services – will now come into play.

<a href="/news/the-difference-between-offset-and-redraw-mortgage-loans-that-are-right-for-you">Mortgage brokers</a> are keeping an extra close eye on discretionary spending, which encompass even small weekly indulgences, such as takeaway coffee, a visit to the beautician and work lunches. These can quickly add up over time, with Aussies who buy a medium takeaway coffee each work day racking up more than $1000 a year. Additionally, the average person also spends about $1000 each year on fitness activities. 

With every aspect under scrutiny when applying for a mortgage, even education debt in the form of Higher Education Loan Program (HELP) repayments will be under the microscope, as these can bring down a person’s income from anywhere between 1-10%. 

With all of this in mind, how then can Aussies improve their chances of getting an <a href="/expert-insights/buying/how-our-spending-habits-during-self-isolation-will-influence-our-ability-to-secure-a-home-loan">approved home loan</a>? Having a positive credit history – such as a car loan, credit card, or mobile phone contract – makes it easier to get a home loan, as it demonstrates to the lender how diligent you are with repayments. Being able to show banks and lenders that you can stick to a budget and live within your means is also extremely valuable when it comes to securing a home loan. 

For those who may want to take out a home loan in the future but are concerned about their Uber Eats and Afterpay habits, consider creating a weekly budget to help reduce unnecessary spending. There are a number of free online resources that can assist with crunching the numbers, such as the comparethemarket.com.au’s budget planner. 
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How your Uber Eats and Afterpay habits could derail your home loan application

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Urban's own Jie Yee Ong interviews Stuart Biggs of Buildcap to discuss their recent collaboration with GCB Constructions, on their project, Marine Quarter. To date, Marine Quarter is the only approved development on the Eastern side of Marine Parade. Why do you think the city council approved of this project? What does Marine Quarter have to offer that other development projects don’t? 
While only speculating, the council's approval of <a href="/buildings/marine-quarter-scenic-tower-165-marine-parade-southport">Marine Quarter</a> certainly signifies a vote of confidence in both the unique project offering and the wider Gold Coast property market. 
With a project value of $72 million, Marine Quarter will become a hero building project within the area, offering uninterrupted views and perfectly positioned to benefit from its close proximity to the waterfront lifestyle, cultural amenity and major infrastructure.

Marine Quarter is the first collaboration between <a href="/developers/buildcap">Buildcap</a> and local Queensland family-owned business GCB Constructions. Why GCB? How important is it for developers to communicate and work with local businesses? 
GCB is a local family-owned construction group with an innate understanding of the Gold Coast market. Combined with their willingness to collaborate and their mission to invest back into the community through local resources — sustaining local economies and jobs — they are certainly a company we can get behind to help us bring our project to life. 
Aligning with local businesses and providing several years of work to associated sub-contractors and suppliers is a key value for all of our projects and something that is very valuable given the current economic climate.

Marine Quarter’s unbeatable seaside views make it one of the highly sought after townhouses in Queensland. Seeing the demand for projects like Marine Quarter, will Buildcap continue with developments of this nature in the future? 
We are certainly in the process of exploring similar opportunities within the Queensland market, and if the opportunity presents itself we would love to establish a project of this nature again in the future. As it stands, Marine Quarter is the biggest project currently under development for the Buildcap team, with most of our energy currently focused on delivering smaller-scale developments that range between 15-100 residences. 
A key priority for Buildcap when looking to launch a new project is ensuring the location and lifestyle offering is key. With all of our projects centred around providing residents with the ultimate in low-maintenance luxury living.

Will Buildcap expand projects like this to other major cities around Australia to replicate the success of Marine Quarter?

While our energy is currently focused on exploring opportunities within the Queensland and Victorian market, we do pride ourselves on our keen eye for noticing market trends ahead of time and therefore wouldn’t shy away from an exciting opportunity elsewhere, should one present itself.

How has COVID-19 affected buyers’ interest in Marine Quarter or any other projects by Buildcap? 
Undoubtedly, <a href="/expert-insights/buying/covid-19-a-little-bit-of-positivity-goes-a-long-way">COVID-19 is reshaping</a> the way our world is interconnected from how we do business to how we live our lives, and the property industry is no exception. 
However, as the economy and our society adapt to this new normal, we have continued to experience a high volume of sales enquiries, suggesting that<a href="/news/first-home-buyers-snap-up-property-due-to-fear-of-missing-out"> buyers who are financially sound</a> and possess job security have the ability to remain active in the housing market through this period.  They may, in fact, find themselves in a stronger position, using this as an opportunity to secure properties at a competitive price with ultra-low interest rates.
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Urban Q&A for Buildcap Managing Director, Stuart Biggs

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Identifying underutilised land and rejuvenating new life into the area is a familiar game in property development. However, the specific category of urban renewal projects within the development industry take this process a few steps beyond the ordinary. Defined as “clearing out blighted areas and urban decay to create more opportunities for housing, businesses, and more”, urban renewal can often be risky. However, it is with this risk developers can seek out greater pay off and reward when successful.

One of the most challenging and rewarding projects I have worked on during my career at <a href="/news/icd-propertys-matt-khoo-discusses-the-cost-of-sustainability-in-property-development-urban-tv">ICD Property</a> has been our urban renewal estate, Gen Fyansford. Located 10 minutes from Geelong and 50 minutes from Melbourne’s CBD, Gen Fyansford is surrounded by beautiful nature escapes such as the Barwon and Moorabool River trails, amazing legacies crafted by skilled pioneers are still standing proud today such as the Monier Bridge, as well as many of <a href="/developments/geelong-vic-3220">Geelong’s</a> best schools, cafes, and restaurants. A great development opportunity due to its incredible location in proximity to so much rich amenity.

However, the site was previously used as an old cement works facility and basalt quarry. Leaving behind significantly contaminated earth, that required substantial remediation before we could ever develop our shared vision with joint-venture partners Suplai, of a circa 1,200-lot neighbourhood community with parks, playgrounds, recreational facilities, and a town centre. To date, the successful environmental remediation of Gen Fyansford’s early stages has been one of the estate’s most significant achievements.

One of the toughest challenges <a href="/developers/icd-property">ICD Property</a> faced in the project’s beginnings was convincing the market to believe in our vision for the site and recognise the same potential we saw. Not only did we face the usual hurdles of alluring purchasers to a brand-new estate with little existing neighbourhood, but <a href="/new-townhouses/fyansford-vic-3218">Gen Fyansford</a> particularly faced the additional challenge of rebranding an area of Geelong that was previously known as industrial land. Yet we remained committed to our vision and passionate about uplifting the site to its highest use, engaging tier-one consultants to assist us. Although there is still a way to go, the risk has certainly paid off as we have now settled approximately 400 lots within Gen Fyansford and have built up a great reputation as one of Geelong’s premium estates. 

We are currently working to rehabilitate the quarry and fill the land’s significant deficit in order to level the ground, unlocking its development potential. In order to increase the developable area and decrease the deficit of fill, we have had to change the landform completely, blasting large portions of the eastern and southern spurs, utilising the blasted material as fill throughout the quarry. Minimising the number of off-site materials needed to be introduced and promoting sustainable development practices by repurposing the site’s native materials. 

Stakeholder management has been essential to Gen Fyansford’s development over the years with dialogue regularly undertaken with authorities and expert consultants. Further to this, ICD Property and Suplai continue to roll out a comprehensive community engagement process to ensure that all works are appropriately planned and communicated with development stakeholders, existing neighbouring houses and families, and local authorities. Activities such as community drop-in sessions, media releases, electronic direct mailing, and numerous meetings with authorities are a big element of Gen Fyansford’s development process. Follow-up communication and ongoing updates via text messages, dedicated website updates, and emails, continue to be an initiative to further reinforce the controlled process undertaken.

Although urban renewal projects are common in the property landscape, I truly believe <a href="/new-townhouses/fyansford-vic-3218">Gen Fyansford’s</a> setting is one in a million and totally unique to any other land subdivision project in Australia.

On top of the estate’s environmental considerations, the site is also recognised as having indigenous significance to the Wathaurung people and heritage importance due to its closeness to Moorabool Bridge, Swan Inn, and the old Geelong Orphanage. We have therefore undertaken additional processes to uphold the significance of the land and have worked closely with Heritage Victoria to ensure the site’s heritage significance is appreciated now and into the future.

After years of remediation, careful earthworks, and a long journey of rehabilitating the 100 plus hectare site, Gen Fyansford, is now approximately halfway through its delivery schedule and has become one of ICD Property’s proudest developments. Providing several distinct residential offerings to the area with each stage release.

For instance, in Stages 1 and 2, we sold lots right along the Moorabool River, offering views of the water and unparalleled access to nearby walking and biking paths. Then in Stage 4, we offered expansive views to the west and in Stage 6 released luxury lots atop Herne Hill with stunning panoramic views of Queens Park that set records for the most expensive land lots ever sold in Geelong at $900,000. 

Upon completion, Gen Fyansford will provide residents and the local community with a new bike and walking paths, parks, playgrounds, and a town centre to service the entire neighbourhood with much-needed amenities such as a potential grocery store and other specialist retail stores. 

Although the journey has been long and hard, and with much more still lying ahead, Gen Fyansford to me is the perfect example of a successful urban renewal. A unique case study that tells the story of how a developer saw <a href="/news/industrial-west-melbourne-the-latest-urban-renewal-contender">potential in a land</a> that was not well-integrated with its community, took on the risks of laborious remediation and rehabilitation, but are ultimately succeeded in creating an incredible outcome for the developer, neighbourhood, and wider city that has been received with overwhelming positivity by locals and commercial success.
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The journey of one of Victoria’s most significant urban renewal projects.

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People could not see and believe what we are about to face. A massive downturn of Real Estate valuation will be the biggest shock to everyone. It is going to break the long-lasting uptrend property market in a century. 

Currently there is one million vacant properties and 250,000 new units <a href="/developments/melbourne-vic">currently being built</a>. 

The rich are waiting to buy a property and holding their cash from 2020 to 2022 for the 50% discount of all ranges from residential, commercial, industrial, farming, and land banking. 

Residential <a href="/guides/5-key-tips-to-buying-an-off-market-property">Real Estate 30%</a> discount in September 2020 – November 2020 Apartment Real Estate 50% discount in November 2020 – January 2021 Commercial Real Estate 28% discount in April 2021 – June 2021 

We will reach 20% of Unemployment / High Debt with Banks / Farming Failing / Shortage of Foods. This is going to impact everywhere globally, especially real estate downturn. 

Our baby boomers are ageing for the next 10 years, and we will need to attract most of South East Asia nationalities such as Chinese, Vietnamese, Indians, and Thailand to support our operation of economic internally and externally. 

We do need to bring the property back to the right valuation and that is going to hurt people that owned a lot of assets. 

I understand that we are all in this crisis together and we do not like to hear the property market bubble crash, and the truth does hurt, we will get angry as it is going down, we are in a recession right now, socially violent and will go into depression. 

Most important that you can do right now is to keep your job and keep your business, you need to keep your income coming, and if you can make a side job or side business, please do it. 

However, in the last two weeks, we are seeing more buyer enquiries coming through and with Government easing restrictions, <a href="/expert-insights/buying/why-axing-stamp-duty-will-help-everyone">possible scrapping of stamp duty</a>, and low-interest rates, we encourage some light outside the tunnel before the end of the stimulus package ended on 27th September 2020. 

This is the right time that we need to help the communities, develop yourself in education, and meet new friends and associates to keep ourselves mentally active and physically focused. 

Good times will return between 2022 and 2023 onwards.
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Opinion - The best time in the near future to buy Property

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For some people the mere mention of “due diligence” can cause their eyes to glass over and throw their arms in the air that it's all too hard. We understand, so we have simplified this sometimes arduous, but absolutely necessary process down to 3 simple steps.

Whether you are looking to purchase your first investment, or on the search to add to your already growing property portfolio these three steps will help you buy with confidence. 

Know the location.

We have more online information at our fingertips than ever before, so while we believe this is one of the most important aspects of property investment it can also be the easiest. Below are some great sites that give you a snapshot of your preferred location.

<ul>
<li><a href="https://www.microburbs.com.au/">Microburbs.com.au</a></li>
	<li><a href="https://www.corelogic.com.au/">Corelogic.com.au</a></li>
	<li>Planning.NSW.gov.au ( just swap out the State eg planning.VIC.gov.au)</li>
</ul>
What you are looking for:

<ul>
<li>Demographic: you need to understand what type of people live in this area. This is especially important so you know the type of tenant you are going to attract.</li>
	<li>Infrastructure: what facilities are there? Schools, shops, libraries, parks, green spaces</li>
	<li>Public Transport: is there a train line that you could buy near or would your tenant need to have a car?</li>
	<li>Planned Developments: Is your property about to be inundated with more development which could put downward pressure on your rental income. If you are looking to buy a house it's good to know what applications are surrounding the house as this will be an issue for any tenants in terms of noise and possible disruption to their street if its an inner-city dwelling.</li>
</ul>
Plan for the <a href="/guides/how-to-invest-in-property-in-2020-the-ultimate-guide">best tenant</a> at the highest rate.

Tenants have lots of choices so make sure your property will stand out. It's no good buying a cheap property if you can’t rent it out for a good rent or it attracts the wrong sort of tenants. 

The last ten years of development boom is now putting downward pressure on pricing especially in this COVID19 world, but the strong properties that meet the below criteria hold their rental value and generally rent out quickly.

<ul>
<li>This is what we advise our clients that tenants are looking for:</li>
	<li>Walkable public transportation or has car spot</li>
	<li>Lots of natural light (always know the aspect of the property)</li>
	<li>Good size master bedroom</li>
	<li>Functional floorplan - the flow of the property has to be liveable. If it doesn't make sense to you it probably wont to a potential tenant</li>
	<li>Property outlook - if the property is facing a busy main road, electrical towers, brick walls etc it will be harder to rent</li>
	<li>Sufficient storage</li>
	<li>Preferably with an outdoor space</li>
</ul>
Once you have identified some properties that meet the above criteria then you narrow it down by going through the numbers.

Know your numbers.

Firstly you have to <a href="/guides/how-to-ensure-financial-return-on-your-property-investment-in-15-simple-steps">have a budget</a> and you have to stick to it, always. Then, it's about getting the best value for money. Property investment is about making money, so remove any emotional connection you may have to a certain property or area. Once you have chosen an area and identified properties that could fall into your budget it comes down to the numbers.

There is lots of talk about what capital growth and yield makes a good investment. Capital growth is the increase in an asset's or investment's value over time. It’s measured by comparing the asset's current value with how much it originally cost.

Yield is the earnings generated and realized on an investment over a particular period of time. It's expressed as a percentage based on the invested amount or current market value.

A good indicator is if your investment doubles in value every 7-10 years and you look for a gross yield of above 4%. It’s a balancing act getting these two indicators right and will depend on the area and value of your property.  When you find that property that is in a sound location and has features and benefits that will excite tenants you can begin the negotiation process, just don’t go over your budget.

Happy investing.
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Looking to buy an investment property? Top 3 things you must do online first.

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High profile cases such as the Mascot and Opal Towers debacles have shone a spotlight on the issue of <a href="/news/australia-called-we-want-our-building-codes-updated-and-regulated">defects in new buildings</a>. A recent study has revealed that a whopping 85% of new Australian buildings in the multi-residential sector have at least one defect. The commercial sector faces similar issues. 

So what recourse do investors have if there are defects in their new <a href="/guides">investment property</a>? It's important to recognise that the laws are different in every state or territory. Here is what you need to know if investing in NSW.

Defects in a residential property 

In NSW, residential property purchases offer few, if any protections to the buyer. While in other countries sellers have obligations to disclose known defects, this is not so in NSW. In the majority of residential real estate contracts in NSW, the buyer must take the initiative to ask questions, insist on inspections and be willing to take a chance. Therefore, the responsibility lies entirely with the buyer to protect themselves against purchasing a substandard property. 

The most prudent action a residential property investor can take is to insist on time to thoroughly inspect and review the property they are considering purchasing. If the seller refuses to allow for any type of inspections, or insists on controlling the choice of inspector, it might be best to move on to another buying option.

Defects in a commercial property

Commercial <a href="/guides/how-to-ensure-financial-return-on-your-property-investment-in-15-simple-steps">property purchases</a> offer a bit more protection to the buyer. The contracts for the sale of large commercial buildings usually will include options for the repair or replacement of defective materials, workmanship or a failure to meet specifications. However, this type of protection is not necessarily standard, so contracts must be reviewed carefully and addendums added to include these types of protections.

First, it is important to define the types of defects you might want included for repair and/or replacement in your contract. Some defects you would want to include might be:

<ul>
<li>Substandard workmanship</li>
	<li>Poor materials quality</li>
	<li>Improper installation of pertinent items</li>
	<li>Non-compliance with building specifications</li>
	<li>Violations of necessary codes and regulations</li>
</ul>
Next it is imperative to understand how a builder can be held responsible for curing the defects that present themselves. Most contracts will include a period of time where the builder will be legally required to cure a defect. This period is called the “defects liability period.” Some of the characteristics of this clause include;

<ul>
<li>Time Frame; how long will the period be in effect for?</li>
	<li>Start Date; when will the period of legally mandated repair start?</li>
	<li>Completion of Repair; will repairs of noted defects have to be finished before legal ownership changes hands or will the builder be allowed back on site to make repairs after the property has closed?</li>
	<li>Responsible party; will the original builder be responsible for curing the defects during the liability period or will the owner need to contract out and seek reimbursement from the original builder?</li>
	<li>Cure Time; how long will the builder have to make a repair once a defect is identified and notice is given?</li>
	<li>Defects Not Anticipated; what will the criteria be to determine and qualify a defect that is not specifically identified in the contract?</li>
</ul>
While this is not an exhaustive list, it does represent some of the more common issues that should be addressed when drafting a liability defects period clause.

Can damages be recovered for defects in property?

This question is a bit more complex. While damages can be recovered for breach of contract, it is likely that the contract will contain language that will define or limit the manner and amount of damages that can be recovered by the purchaser. If the cost of repair for damages exceeds that which was predetermined, and the excess is both reasonable and unexpected, it is possible that the courts will find the liable party responsible for the entirety of the costs.

The most effective way to avoid buying either a <a href="/expert-insights/buying/4-reasons-to-have-faith-in-australia-s-property-market-for-the-long-run">residential or commercial property</a> with defects, is to have the property inspected by a neutral third party. Then, if defects are found, the parties can either contract for the repairs prior to purchase or decide to move on to another venture. In the event that the property is under contract for construction, then it is imperative that the parties come to some contractual agreement as to how future identified defects will be cured.
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What are my rights if my investment property has defects?

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With construction issues in new developments widespread, it is clear regulations to ensure safe building practices have fallen short of need and expectations. The current state of oversight has left investors, owners, and renters with doubts and growing wariness of the inherent safety of the buildings they are investing in or occupying.

To address the problem, the <a href="/new-apartments/nsw">NSW</a> government is taking steps to put new regulations into place that will increase oversight and accountability of builders. And, while builders may find these new regulations somewhat cumbersome, the need for buildings that comply with safety outweighs the possible inconveniences. In addition, for those builders who are already complying with current regulations and are conscientious about the quality of their work, the new regulations will not force great changes. Instead, the regulations will only raise standards that will ensure everyone’s safety.

What are the proposed reforms?

The proposed reforms would involve a new ratings system for <a href="/builders">builders</a> and developers to protect buyers from purchasing dodgy developments. The tool will assess the amount of risk attached to a project and the track record of the team behind it - from the builder and designer, through to the developer and the certifier. Under the reforms, the NSW government would be able to block occupancy certificates being issued for buildings deemed unsafe or incomplete. 

Initially, to keep the building industry working and thriving, the regulations will have to allow for builders to rest on the quality of their past work. Those who can show that their projects have been properly built, and are in accordance with current building standards, should receive some form of endorsement as safe developers. This will allow these builders to continue to build and provide safe work and living locations for all.

In the meantime, the drafters can move forward with quantifying some of the changes that are currently being proposed, including but not limited to;

<ul>
<li>Increasing Transparency; by possibly requiring additional pieces of information and/or allowing for additional inspections of work being performed</li>
	<li>Increasing Accountability; by possibly requiring particular employees to be named as responsible for certain phases of each build</li>
	<li>Increasing the quality of work; by possibly requiring a particular part of projects to have minimum experience or education hour</li>
</ul>
The proposed reforms are part of the <a href="/news/nsw-government-awards-299-million-contract-for-new-waterloo-metro-station-and-integrated-development">Government's Design</a> and Building Practitioners Bill, which is currently being held up in the Upper House. As such the reforms are yet to be formally decided upon and may be amended. 

To implement any of the proposed changes, a great deal of work must still be done. It will be important for those drafting the reforms to take the time to assess and research the following areas of need;

<ul>
<li>Where are building standards falling short?</li>
	<li>What types of checks and balances would need to be implemented to catch the areas that present the greatest dangers</li>
	<li>When during the process of building would inspectors need access to the construction to ensure that the new regulations were being followed</li>
	<li>Who would be responsible for determining a building that is out of compliance with new standards i.e. city, council, state officials</li>
</ul>
Lastly, there are many professionals who are already available to help monitor and implement the <a href="/expert-insights/buying/changes-the-real-estate-industry-will-experience-as-a-result-of-the-coronavirus">proposed new regulations</a>. It will be important for local and state governments to share or combine their resources so that monies are not wasted and available resources are adequately tapped for their services and expertise. By doing so, the changes can be both safe and cost-effective for all involved.
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How a proposed ratings system for builders could protect investors from dodgy developments

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Among the many changes that may occur in society over the coming months and years is the potential for one of our most inefficient taxes to finally be axed. <a href="/guides/step-by-step-guide-to-placing-an-offer-on-a-house">Stamp duty</a> has long been the bane of most property owner’s existence with buyers having to fork out tens of thousands of additional dollars for the supposed “privilege” of purchasing a piece of real estate. 
Over the decades, as the price of property has increased, the percentage rate of stamp duty has generally stayed the same, which has resulted in the cost of stamp duty soaring. 
In some cases, in exclusive <a href="/developments/sydney-nsw">Sydney</a> suburbs, for example, buyers are stumping up more than $100,000 every time they purchase a home. 
In many other locations, you won’t get much change from $20,000 to $40,000, depending on the property’s price point. 

However, it appears that a new way of tax thinking is potentially on the way.

Time to heave-ho

Stamp duty has been identified by experts as an inefficient tax that needed to go for years, but successive governments failed to listen. 
Perhaps it all seemed a bit hard, with State Governments now overly reliant on stamp duty proceeds to fund their budgets. 
Of course, we’re all currently living through some of the most difficult days of our lives, which has created the ideal conditions for significant changes to how we live, including the taxes we pay. The push to stamp out stamp duty has already begun, with many experts suggesting now is the time to give it the heave-ho. 
The timing is perfect, because stamp duty has always slowed down the market, which we need to be firing to help reignite our economy. What I mean is that stamp duty always prevented more people from buying a property, because they simply couldn’t afford the additional fee to do so. 
Likewise, it stopped many other people from selling, which reduced supply, because they also didn’t want to have to pay stamp duty when they bought somewhere bigger or smaller or just something somewhere else.  
Removing stamp duty will also increase the deposits of investors and home buyers, which will give them more choice of where and what to buy. 
For example, in <a href="/developments/qld">Queensland</a>, the stamp duty on a $500,000 home is about $18,000. 
Say, a would-be buyer had saved $68,000, but no longer needed to pay stamp duty, their purchasing power has increased by a staggering 26 per cent. 
That means they could not only potentially buy a more appropriate property for their needs, but they could also simply buy sooner because they no longer have to stump up nearly $20,000 in tax.  

Of course, you can’t just remove a huge revenue stream and not replace it with something, which is likely to be land tax. 
How that will look in practice is not clear, but it’s likely to include an annual fee of a few hundred dollars for all property owners based on the rateable value of their land. 
That system would ultimately be more equitable whilst also providing the income that government’s need from year to year.  It’s clear that sometimes there needs to be a fresh perspective for big changes to occur, which is usually because of a change in political power. However, that is not the situation today. 
While all of us would prefer that <a href="/expert-insights/buying/changes-the-real-estate-industry-will-experience-as-a-result-of-the-coronavirus">coronavirus</a> never existed, its impact long-term on our society may also include leaving a legacy of a fairer taxation system for everyone.
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Why axing stamp duty will help everyone

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Nicholas Failla

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