<html><body>
Sunland’s flagship Palazzo Versace hotel has received considerable offshore buying interest since its marketing began in April this year.
A Chinese group is in due diligence considering its acquisition of the luxury Gold Coast hotel.
<img src="/images/stories/palazzov.jpg">
The market is tipping $60 million plus for the Palazzo Versace hotel, which was the world’s first fashion house-branded hotel when launched in 2000.
<img src="/images/stories/2012/08/palazzoversace.jpg">
It recently underwent a multimillion-dollar revitalisation in the last 18 months, and has three restaurants, a marina, 200 rooms, a ballroom, shops and other facilities.
Managing director Sahba Abedian confirmed Sunland was in talks with a single party hoping to establish a presence in the Australian market.
<img src="/images/stories/2012/08/palazzo1.jpg">
<a target="_blank" href="https://www.propertyobserver.com.au/leisure/sunland-lists-gold-coasts-palazzo-versace-after-company-profits-slump/2012042354413">Property Observer</a> reported on the listing back in April this year, when the hotel was first expected to notch close $80 million, after a sales campaign was commenced by McVay Real Estate.
<img src="/images/stories/2012/08/palazzo2.jpg">
According to Jones Lang Laselle hotel data, about $1.1 billion worth of hotels and resorts in Australia have been traded in in the past year, with Asian buyers accounting for more than 90%.
Asian buyers are showing a keen interest in hotels and resorts Down Under due to the economic turbulence in Europe and poor real estate performances elsewhere in the world.
<img src="/images/stories/2012/08/palazzo3.jpg">
In the past year, <a target="_blank" href="https://www.propertyobserver.com.au/leisure/sydney-shangri-la-hotel-sells-to-hong-kong-shangri-la-asia-group-for-record-%24352-million/2012062555249">Hong Kong group Shangri-La Asia bought Sydney’s Shangri-La hotel </a>and Brisbane’s Holiday Inn. <a target="_blank" href="https://www.propertyobserver.com.au/leisure/malaysian-reit-pays-%24415-million-for-marriott-five-star-hotel-portfolio/2012061455118">Malaysian group Starhill paid $415 million for Colonial First State’s Marriot hotel portfolio</a>, which consists of three five-star hotels across Sydney, Brisbane and Melbourne.
The Palazzo Versace has been listed by property developer Sunland in order to reinvest in other projects.
The Australian Financial Review reported a sale might be finalised over the next two weeks.
</body></html>

ntrotman-Et3xWpamVh

Chinese investors eyeing up Sunland's $60 million-plus Palazzo Versace on Gold Coast

<html><body>
Australand is restoring the historic Chimney at Botanica, which originally provided light and power to the Lidcombe hospital through the boiler house. 
Cnthia Csernay, senior marketing coordinator for Australand, says the aims behind the restoration of the chimney were to bring the structure up to the current earthquake codes, as well as to make the building more visually attractive. 
The chimney dates back to 1901 and contained coal furnaces that fed into a generator to produce enough electricity to provide lighting and power to the entire hospital, as well as hospital wards and residences. 
<img src="/images/stories/2012/08/chimney.jpg">
The Lidcombe hospital closed in 1993, and the boiler house and chimney have not been active since. 
The Lidcombe hospital changed its name over time as the focus of care changed and developed. It was originally known as the Lidcombe Old Men’s home, though during the 1919 influenza pandemic, women had been admitted to the infectious disease ward. 
After 1913 the hospital changed names to Rookwood State Hospital and Home For Men, and changed twice more until it closed as Lidcombe Hospital. 
The chimney that fed electricity and power to the hospital is now a historical landmark within Australand’s Botanica. 
“It will be a piece of history that all the community can be proud of, and we look forward to the completed restorations,” says Australand NSW residential division general manager Nigel Edgar. 
Edgar also says that the chimney at Botanica is a treasured feature of the residential community and plays a very important role in understanding the history of site. 
Botanica is part of a new neighbourhood, which is spread over 44 hectares and is 14 kilometres from the Sydney CBD. 
The former hospital buildings are now known as “The gallery at Botanica” and are a collection of heritage-listed building that have been adapted by Australand into modern homes. 
There are currently 31 homes on sale at Botanica, with a some 500 new homes sold. 
Its three-bedroom houses are available from $660,000 to $740,000, and the four-bedroom house ranges from $715,000 to $940,000.
</body></html>

Chimney at Botanica set for hot new look

<html><body>
With the spring selling season just a week away, home owners and hopeful vendors are sprucing up their gardens and outdoor spaces in the hopes of enticing buyers who want more than a roof above their heads. 
There is no doubt that Australians love their gardens, and a recent survey by independent research firm Kairos Future found 55% of Australians want to see more green space in their cities, and 65% of Aussies are willing to pay more for property with good green space nearby.
With this in mind and the whiff of spring in the air, Property Observer checks out 10 of the best gardens currently on the market across Australia.
<img src="/images/stories/2012/08/garden1.jpg">
This beautiful property <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/12-lansell-road-toorak/Property-Details-buy-residential-4296033">is located on Lansell Road</a> in the pricey picturesque suburb of Toorak, Melbourne. It is set on 3,280 square metres, with inbuilt french doors to access the outdoor entertainment area. The front yard has a rustic birdbath and lemon trees. The backyard has a centered statue and pristine hedges leading to a wooden arch.
<hr>
 
<img src="/images/stories/2012/08/garden2.jpg">
Located in Brighton, Victoria, <a href="https://www.domain.com.au/Property/For-Sale/House/VIC/Brighton/?adid=2009522095" target="_blank">this property</a>, which has lingered on the market, is encircled with a Paul Bangay-designed garden. Many of the features in the 6,130-square-metre grounds can be controlled remotely from a central keypad, including the lights the blinds, the fountains and the gates.
<hr>
<img src="/images/stories/2012/08/garden31.jpg">
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/1-corona-street-balwyn-north/Property-Details-buy-residential-4221683">This serene sanctuary</a>, located in Melbourne’s eastern suburb of Balwyn North, plays host to a Japanese-inspired garden milieu (pictured above and below.) The exotic garden “wonderland” is secluded beyond a tranquil water-garden oasis. Set upon 1,100 square metres, this private garden includes a wide variety of plant species.
<img src="/images/stories/2012/08/garden3.jpg">
 
 
<hr class="system-pagebreak">
 
<img src="/images/stories/2012/08/garden4.jpg">
Located in Matcham, New South Wales,<a target="_blank" href="https://www.realestate.com.au/property-house-nsw-matcham-111058195"> the “Woodstone”</a> is a calm retreat markedted as an idyllic existence. Situated on 24,300 square metres of environmental harmony and moss-green lawns, the structures and archways of the property are strewn with grape vines. Woodston plays host to an abundance of stone walls, a swimming pool, tennis court, piazzas and terraces. The property lake is stocked with fish, and is home to dozens of species of rare birds. Better yet, the calm retreat is boarded by a spectacular rainforest reserve.
 
<hr>
 
<img src="/images/stories/2012/08/garden5.jpg">
Nestled behind grand wrought-iron gates, this private setting features a glorious basket range of sandstone frontage and an entertainer’s pavilion. Nestled on a comfortable 1,755 square metres, the manicured rear garden plays host to a rustic fountain. <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/44-sunnyside-road-glen-osmond/Property-Details-buy-residential-4263235">Located in Glen Osmond, South Australia</a>, this gem is a rarity in a small city.
 
<img src="/images/stories/2012/08/garden6.jpg">
This<a target="_blank" href="https://www.realestate.com.au/property-house-qld-bridgeman+downs-110520485"> Bridgeman Downs garden</a> is on 20,200 square metres of picturesque and manicured grounds, bordered by secure fences. At the rear of the property, the guest/workers’ area contains three dedicated stables with holding yards. The garden boasts freshness and tropical warmth, with an array of palm trees on the front lawn. The vibrant green shrubbery is evidence of the tropical climate all year round.
 
<hr>
<img src="/images/stories/2012/08/garden7.jpg">
Situated on 1,100 square metres, <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/287i-kenmore-road-fig-tree-pocket/Property-Details-buy-residential-4071299">the property </a>boasts breathtaking views of the Brisbane River. Located in Fig Tree Pocket, Queensland, the garden is manicured and features a multitude of tropical plants.
 
<hr class="system-pagebreak">
 
 
<img src="/images/stories/2012/08/garden8.jpg">
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/149-victoria-road-hawthorn-east/Property-Details-buy-residential-4272041">“Rathgar” boasts a landscaped garden</a>, which was among the first created by the multi-award-winning Jack Merlo. The grounds provide north-facing areas for entertaining, a solar-/gas-heated pool and spa and a flood-lit-north-south mod-grass tennis court. Two loud flowerpots adorn the entrance to the property, which is located on 1,650 square metres in the eastern suburb of Melbourne, Hawthorn East.
 
<hr>
 
<img src="/images/stories/2012/08/garden9.jpg">
For something a bit different, there’s a French- and Italian-inspired apartment <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/3a-chatsworth-avenue-brighton/Property-Details-buy-residential-4274497">in Chatsword Avenue, Brighton</a> (pictured above and below). Wrought-iron gates open onto a long stone driveway lined with pear trees. This property is significantly smaller at 655 square metres, but this allows for a comfortable courtyard with Espalier pear trees and wisteria-draped pergola.
<img src="/images/stories/2012/08/garden11.jpg">
 
<hr>
<img src="/images/stories/2012/08/garden10.jpg">
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/14-aberfeldie-street-aberfeldie/Property-Details-buy-residential-3582091">Located in Aberfeldie, Victoria</a>, this English heritage home is enclosed with wrought-iron electric gates. The outdoor environment is a clear display of being designed by Australian landscaper Paul Bangay. Fitted with a fully automated garden watering system and a rain sensor, the landscape stays fresh and hydrated. The watering system is integrated with three underground water tanks of 30,000 litres. The backyard is an oasis in warmer months, with a large in-ground pool and with high hedges that offer optimum privacy.
</body></html>

Blooming brilliant: 10 of Australia's best gardens on the market

<html><body>
Arno Corporation has revealed ORBIS, a new luxury apartment to be built with a unique architectural expression.
Orbis is inspired by Indian-born British sculptor Anish Kapoor’s three-storey "sky dish" in New York City’s Rockefeller Center.
Inspiration is also drawn from surrealist painter Rene Magritte’s mysterious suspended orbs painting The Voice of Air.
Orbis is designed with an architectural technique associated with sculpture, which involves the selective removal of a mass to reveal a figure or image.
<img src="/images/stories/2012/08/orbis1.jpg">
The new apartment complex is the latest collaboration between Arno Corporation’s Andrew Cook and Anthony Heffernan, and ARM Architecture.
Arno Corporation’s Anthony Heffernan says ARM’s intriguing design for Orbis plays with perceptions of space and depth by scooping out selective masses from the distinctive façade, creating the illusion of enormous reflective orbs and dishes that cleverly invert and reshape their surrounds.
There are a total of 48 apartments, with one-bedroom-plus-study units comprising 40% of the complex and two-bedroom apartments taking up 60%.
<img src="/images/stories/2012/08/orbis2.jpg">
The apartments range from 55 square metres to 86 square metres, with terraces ranging from approximately eight square metres to 56 square metres.
A one-bedroom-plus-study unit starts at $495,000, two-bedroom apartments start at $590,000 and two-bedroom, two-bathroom units start at $650,000. Prices range up to $910,000.
All apartments have one undercover secure car space with storage. The northern penthouse apartments are the only exception with two car spaces and storage.
<img src="/images/stories/2012/08/orbis3.jpg">
More than 20% of Orbis’ 48 apartments sold before the building’s launch at the end of July, with no further update given at time of publication.
“The degree of luxury and organic design – inside and out – won’t be matched on the market for a very long time,” says Heffernan.
The inside of the apartments will consist of mosaic glass tiles, timber oak floors, Miele appliances, Fisher &amp; Paykel remote dishwasher, stone benches, track lighting light fitting, 100% wool loop tile carpet – with a choice of three colours – taps in aged bronze, brushed brass or chrome with a colour scheme choice of light or dark.
<img src="/images/stories/2012/08/orbis4.jpg">
ARM Architecture is led by Ian McDouhall, who has previously worked with the Hamer Hall redevelopment, the Melbourne recital Centre and Arno Corporation's Momentum, which will be Orbis's neighbour.
Arno Corporation is celebrating 25 years in the property industry this year and is regarded as one of Victoria’s foremost residential luxury property developers.
Other projects by Arno Corporations include the FACE development in Acland Street, St Kilda, and ISIS development in Domain Road, South Yarra.
The Orbis development display suite is located on the corner of Eastern Road and Palmerstone Crescent, South Melbourne.
The display suites are open on Saturday and Sunday from noon to 4pm and Monday to Thursday from noon to 2pm.
Orbis Development is scheduled for completion in 2014.
</body></html>

Orbis to bring surrealist design to South Melbourne skyline 

<html><body>
The most discounted property currently on the market in Australia is a four-bedroom livestock property in Caboolture, Queensland, with an initial asking price of $949,000. After sitting on the market for a whopping 783 days, the owners slashed the price down do $586,000, or a 38% reduction. The property comes with two stables and a day yard along with a barn equipped with a toilet and shower.
The vendors of a two-bedroom fifth-floor apartment in Port Adelaide, South Australia, havalso reduced their asking price by 38%. The property has been on the market for 755 days. The initial asking price was $725,000 and was reduced to $450,000 after no potential buyers were found. According to the property's marketing, the vendor bought the unit in October 2008 for $674,950 and is willing to make a $224,950 (or 33%) loss on it.
Head of SQM Research Louis Christopher accounts for the drastic price cuts through the unrealistic expectations of home owner’s asking prices.
“That stops them finding a buyer in the first few weeks, the crucial time to sell.”
“The seller is then faced with reducing their initial asking price, creating stigma around the property with potential buyers that there is something wrong with it,” says Christopher.
Christopher also explained that sellers who are not meeting the current stagnant real estate market are not only wasting their time, but also that of the agent’s and the money spent on advertising.
 
1 <a href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420" target="_blank">19 Lychee Drive, Caboolture, Queensland 4510</a> (pictured) Days on the market: 783 Initial asking price: $949,000 Current asking price: $586,000 Reduction: 38%
2
<a href="https://www.domain.com.au/Property/For-Sale/House/SA/Port-Adelaide/?adid=2008435199" target="_blank">502 Tarni Court, Port Adelaide, South Australia, 5015</a>
Days on the market: 755 Initial asking price: $725,000 Current asking price: $450,000 Reduction: 38%
3
<a href="https://www.realestate.com.au/property-house-qld-closeburn-107603313" target="_blank">34 Seraya Court, Closeburn, Queensland, 4520</a>
Days on the market: 336 Initial asking price: $1.45 million Current asking price $939,000 Reduction: 35%
4
<a href="https://www.realestate.com.au/property-house-wa-two+rocks-106211228" target="_blank">15 Gretel, Two Rocks, WA, 6037</a>
Days on the market: 938 Initial asking price: $1.1 million Current asking price: $699,000 Reduction: 36%
5
<a href="https://www.realestate.com.au/property-house-wa-armadale-105464925" target="_blank">Armadale, Western Australia</a>
Days on the market: 1207 Initial asking price: $1.85 million Current asking price: $1.2million Reduction: 35%
6
<a href="https://www.domain.com.au/Property/For-Sale/House/SA/Mawson-Lakes/?adid=2007634261" target="_blank">50 Isla Circuit, Mawson Lakes, SA, 5095</a>
Days on the market: 1161 Initial asking price: $1.5 million Current asking price: $990,000 Reduction: 34%
7
<a href="https://www.realestate.com.au/property-house-qld-aspley-106322479" target="_blank">1255 Gympie Road, Aspley, Queensland, 4034</a>
Days on the market: 875 Initial asking price: $510,000 Current asking price: $350,000 Reduction: 31%
8
<a href="https://www.domain.com.au/Property/For-Sale/House/WA/Mount-Lawley/?adid=2009312405" target="_blank">144 Joel Terrace, Mount Lawley, WA, 6050</a>
Days on the market: 273 Initial asking price: $2.69 million Current asking price: $1.85 million Reduction: 31%
9
<a href="https://www.realestate.com.au/property-house-wa-lancelin-105467644" target="_blank">93 Gingin Road, Lancelin, WA 6044</a>
Days on market: 1207 Initial asking price: $580,000 Current asking price: $399,000 Reduction: 31%
10
<a href="https://www.domain.com.au/Property/For-Sale/Penthouse/NSW/Bondi-Junction/?adid=2008805959" target="_blank"> 69/257 - 269 Oxford St Bondi Junction, NSW, 2022</a>
Days on the market: 518 Initial asking price: $2.5 million Current asking price: $1.8 million Reduction: 28%
</body></html>

Queensland farm on the market for two years the country's most discounted property: SQM Research

<html><body>
Lend Lease’s timber high-rise tower development Forté is just two floors shy of its final height in its 10th week of construction.
<img src="/images/stories/2012/08/forteaug172.jpg">
Although construction was on hold Friday with rainy Melbourne weather, the construction on the Docklands project is well and truly under way, with glimpses of work being started on the eighth floor.
<img src="/images/stories/2012/08/forteaug175.jpg">
 The rapid rise of this tower means it is now easily visible from Collins Street, with expected completion in October.
Australia’s first cross-laminated timber high-rise apartment block is set to be 10 storeys high, making it the tallest timber building in the world, overtaking the eight-storey apartment block Stadthaus, Murray Grove, in London.
<img src="/images/stories/2012/08/forteaug174.jpg">
 The $11 million timber tower will be comprised of approximately 760 panels, measuring up to 16.5 metres by three metres, shipped from Austria. The panels were specifically made for Australian conditions.
Daryl Patterson, head of operations at Lend Lease, says the quick construction of the tower is mainly due to its similarities to that of an Ikea flat-pack.
 The timber flooring of 145 millimetres and walls of 128 millimetres are stacked as a platform on top of each other and screwed together. This type of construction means the building can be erected 30% faster than more traditional building methods.
 
<img alt="fortesite3" src="/images/stories/2012/06/fortesite3.jpg" width="470" height="313">
Forté's progress as of June 8
 
<img alt="fortejune3" src="/images/stories/2012/06/fortejune3.jpg" width="470" height="313">
Forté's progress as of June 29
 
<img alt="_mg_5006" src="/images/stories/2012/07/july13forte/_mg_5006.jpg" width="470" height="313">
Forté's progress as of July 13
<img src="/images/stories/2012/08/forteaug173.jpg">
Forté's progress as of August 20 
{module Would you buy an apartment in a timber building?}
</body></html>

Docklands timber tower Forté two months and two floors short of completion

<html><body>
After three years of sitting on the property market, a Mosman waterfront residence sold this week for a street record price. 
Selling agent <a href="https://www.propertyobserver.com.au/https://www.rwm.com.au/135920">Richard Simeon from Richardson &amp; Wrench Mosman </a>would not reveal the sale price for the Shellbank Avenue house, but confirmed it fetched a street record price. 
The street record was  house two doors along - $11 million in 2005. 
The latest sale was by Shane Smyth, CEO of Cover More Insurance, who renovated after paying $9.2 million in 2007, and then listing it with $14 million plus hopes.
The residence comprises of 1,012 square metres, designed for grand -scale living and entertaining, with four huge living areas. 
The home also has three kitchens, two lifts, seven bedrooms and seven bathrooms and has a separate self-contained apartment. 
The outdoor facilities include a swimming pool with a swim-up bar, deep waterfront boating facilities such as a pontoon and a large mooring pen. 
The property sold to a Sydneysider after a race to the finish line with another potential buyer from China competing. 
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/western-australian-buyer-pays-%24101-million-for-mosman-harbourfront/2012080755890">Another Shellbank Avenue waterfront property</a> sold last week for $10.1 million to a retired West Australian mining executive.
</body></html>

After three years on market, Mosman house sets Shellbank Avenue price record

<html><body>
Homes in Stoke, Staffordshire, could be sold for as little as £1 under a proposed UK scheme to reinvigorate crime-ridden areas. 
Terrace houses would be able to be purchased for the pint-sized price of £1 (A$1.48) and would come with a £30,000 low-interest loan to be used for renovations. 
The only catch is that the owner must renovate the house – typically a two- or three-bedroom property with a backyard – and live in it for five years before it could be sold. 
<img src="/images/stories/2012/08/stokeontent.jpg">
The £30 million scheme would be funded by Stoke-on-Trent Council and the United Kingdom government. 
Council tax <a target="_blank" href="https://www.stoke.gov.uk/ccm/content/housing/private-housing/empty-homes/empty-homes-statistics.en">data</a> from 2011 suggests 4,763 homes have been left empty in Stoke. 
Some of these homes are livable, while some desperately need refurbishment. 
The empty homes have attracted arson attacks, squatting, burglary, illegal waste dumping (known as fly tipping) and drug den usage. 
Some squatters cause damage to adjoining properties, and neglected properties can devalue neighbouring property values. 
“At the moment there is vandalism, people using the backyards of empty houses for fly-tipping and all kinds of problems… Something needs to be done,” local resident John Bannister told <a target="_blank" href="https://www.bbc.co.uk/news/uk-england-stoke-staffordshire-19160913">BBC News.</a> 
The ghost town is a result of a now defunct RENEW regeneration scheme. 
<img src="/images/stories/2012/08/stoke2.jpg">
RENEW North Staffordshire was founded in 2004 when the government recognised that the region needed support to improve poor housing. RENEW is the neighbourhood regeneration agency that works together with councils that fall under North Staffordshire. 
The scheme had spent more than £120 million buying up homes and business sites in the hope of transforming them into communities by refurbishing the crumbling homes or replacing them with modern housing. 
The controversial scheme ended in April last year after spending cuts implemented by the coalition government meant the renewal scheme was cut halfway through. 
Brian Hughes of Crane Street in Cobridge told online magazine <a target="_blank" href="https://www.thisisstaffordshire.co.uk/Housing-fund-gives-communities-hope/story-12490922-detail/story">This Is Staffordshire</a> that there were five homes out of 13 on his street that were boarded up and had become magnets for petty crime.
Another resident, Michael Bamford of Rutland Street, said ripping out of the house next door to his had affected how long it took to heat his home.
Some families had to leave their properties to make way for the regeneration project, which never materialised.
The £30 million scheme would focus on Stoke properties in the Portland street area, Cobridge and the Bond street area, Tunstall.
“If agreed by cabinet, the council will consult with local residents and empty property owners about the plans with a view to starting the scheme in 2013,” said Janine Bridges, councilor for Labour-led authority’s cabinet member for housing, neighbourhoods and community safety.
</body></html>

UK homes could sell for £1 as council attempts to rehabilitate suburbs

<html><body>
British fashion giant Topshop is set for a new store at Highpoint Shopping Centre in early 2013. 
The Highpoint location is the second Melbourne store for the iconic British brand, with its other Melbourne outlet on the <a href="https://www.propertyobserver.com.au/victoria/jam-factory-set-for-%2416-million-makeover-as-topshop-moves-in/2011081851210" target="_blank">Chapel Street strip in South Yarra. </a>
GPT Group announced the leasing deal in its half-year results presentation yesterday. 
“Topshop’s ability to deliver new, designer-inspired look to shelves within weeks of making their catwalk debut is something that will certainly strike a chord with our customers,” Matthew Faddy, head of asset management at GPT, says. 
The Topshop/Topman co-location store in South Yarra opened in December last year, and the brand’s first Sydney store<a href="https://www.propertyobserver.com.au/news/fashion-retailer-topshop-topman-to-open-in-sydneys-historic-gowings-building/2012062655281" target="_blank"> is set to open in October in the iconic Gowings building in the CBD</a> after a $1.85 million fit-out. 
Topshop is wholly owned by Phillip Green from the Arcadia Group and first existed in the basement of a Peter Robinson department store in 1964. 
The first stand-alone Topshop opened in 1974, and the brand has now expanded to a whopping 750-plus stores across 32 countries. 
The flagship store located in Oxford Circus, London, attracts more than 200,000 shoppers a week. 
Topman was created as a spin-off to cater for male customers and is run as a separate chain, although some stores are co-located, including South Yarra’s Topshop/Topman. 
It is an exciting time for Melbourne and Sydney residents, who previously had to purchase collections and outfits online. 
The online store topshop.com began in 2000 updating the clothes straight off American and British catwalks that have not yet landed in Australian stores. 
Topshop is not the only offshore brand to make its mark in Australia, with international brand ZARA recently opening its second Melbourne store on Bourke Street (the brand had an outlet in Chadstone), along with its Pitt Street mall, Sydney, outlet. 
Fashion giants H&amp;M and Forever 21 are also rumoured to be scouting locations Down Under.
</body></html>

Topshop set for second Melbourne store as fast fashion retailers expand Down Under

<html><body>
The 2012 London Olympics may have placed restrictions on athletes being sponsored, but not all athletic events take the same stance. 
Sydney’s annual Sun Herald City2Surf fun run understands the importance of sponsorship for amateur athletes, allowing companies to sponsor individual runners. 
Sunday’s televised race brought a big audience for Sydney real estate agency McGrath, with the company logo on one runner’s singlet. 
<img src="/images/stories/2012/08/mcgrathcity2surf2.jpg">
McGrath sponsored both Harry Summers (who wore a singlet with the agency's logo) and Lara Tamsett for the 14-kilometre run, which starts in the eastern suburbs of Hyde Park and finishes along the sandy shore of Bondi Beach. 
Last year the event had 85,000 runners and raised more than $3.6 million for more than 600 charities. 
Summers, 22, came second, and Tamsett, 23, was the first woman to cross the finish line. 
Sponsorship can be seen as a form of survival for most athletes, especially those who devote much of their lives to training their body and mind. 
Tamsett maintains a regular training regime of about 100 kilometres per week in the lead-up to the race, making sure to listen to her body in order to avoid injuries. 
Summers, aka the barefoot runner because of the minimalist, no-support “barefoot” five-fingers shoes he wears, has competed in the event for the past three years, finishing in the top 10 on all occasions. 
“Both Harry and Lara are eastern suburbs locals who train in Centennial Park under the guidance of Sean Williams,” McGrath chief operating officer Geoff Lucas told Property Observer. 
“The City2Surf is an iconic community event which is part of Sydney’s <stockticker>DNA</stockticker> and as a company McGrath is very proud to be able to offer our support to two dedicated young people who are passionate in their endeavours,” Lucas says. 
McGrath declined to indicate the extent of its sponsorship but says this is the first year it has sponsored City2Surf. 
</body></html>

McGrath a television winner as ‘barefoot’ runner and women’s champion cross City2Surf finish line

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Nicola Trotman

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News