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Investors who have only owned a property for a short period of time often ask the question: is it worthwhile making a depreciation claim straight away?
The answer is yes, even if a property has been purchased towards the end of a financial year, valuable deductions are available for the owner straight away.
Investors can make the mistake of postponing organising a depreciation schedule until the following year. However, a specialist quantity surveyor will find ways in which partial year depreciation deductions can be maximised, resulting in extra cashflow for the owner.
A quantity surveyor who specialises in tax depreciation will use their knowledge of Australian Taxation Office legislation to increase deductions. They also will utilise the most current methods of calculating depreciation to make partial-year claims more beneficial to property owners, regardless of the time a property is owned and rented.
Here are some of the legislated mechanisms which, if used correctly, will increase the cash return.
<ol>
<li>
Immediate write-off: Any item costing less than $300 within a property can be immediately written off within the first year of ownership. This is regardless of how many days the property has been owned within that year.</li>
<li>
Low-value pooling: This is a method of depreciating assets at a higher rate to maximise depreciation deductions. Property investors who place assets into the low-value pool are able to claim them at a rate of 18.75% in the year of purchase, regardless of how long the property has been owned and rented. From the second year onwards, the remaining balance of the item can be claimed at an accelerated rate of 37.5%.</li>
<li>
Low-cost assets:Any depreciable asset that has an opening value of less than $1,000 in the year of acquisition is considered to be a low-cost asset. These assets can be included in the low-value pool, resulting in an increased depreciation rate.</li>
<li>
Low-value assets: A low-value asset is a depreciable asset that has a written down value of less than $1,000. That is, the value of the asset is greater than $1,000 in the year of acquisition. However, the remaining value after a previous year’s depreciation claim has been reduced to under $1,000. These assets can be added to the low-value pool as they qualify.</li>
<li>
Scrapping: Scrapping is the removal and disposal of any potentially depreciable assets from an investment property. If a property investor decides to improve an investment property and removes any assets during the process, they can claim these items as an immediate tax deduction. It is important to ask a quantity surveyor to perform a site inspection both before and after renovations are completed so they can identify any remaining depreciable value of the items which are going to be removed during the process.</li>
</ol>
Example:
The following example explains how some of the methods described above have been used to maximise a property owner’s depreciation deductions when an investment property has only been owned for a very small portion of the financial year.
A house purchased for $550,000 by a property investor was rented from June 2.
The table below shows a summary of the depreciation deductions that were available to the owners after renting the property for only 29 days of the financial year for this property.
<img src="/images/events/sponsors/taxtable.jpg" alt="Depreciation table">The plant and equipment deductions for the first twenty-nine days totalled $4,082. By using the immediate write-off for items that cost less than $300 (e.g. smoke alarm and exhaust fans), $1,288 was found in deductions. From low-value pooled items, the owner was able to claim back $2,274 (e.g. hot water system and ceiling fans). The remaining items were depreciated based on their effective lives and scaled down based on the portion of time owned during the first full financial year. These items accounted for the remaining $520 in depreciation deductions.
If a property owner has only owned and rented a property for a few weeks of the financial year, the owners should always seek the services of a specialist quantity surveyor to accelerate the depreciation claim available.
By utilising the legislation available from the ATO, depreciation claims can truly be maximised for the first partial year. A tax depreciation schedule will also outline all remaining deductions for the lifetime of the property (40 years). In most cases, future year claims will also be maximised by using these tools to calculate the depreciation deductions available.
To calculate the likely depreciation claims available on your investment property, please click <a href="https://www.bmtqs.com.au/tax-depreciation-calculator?utm_source=property+observer&amp;utm_medium=link&amp;utm_content=calculator&amp;utm_campaign=investor">here</a>.
<img width="150px" border="0" title="Bradley Beer" alt="Bradley Beer" src="https://www.urban.com.au/images/events/bradwhitespace.gif" align="left">Bradley Beer is the Managing Director of BMT Tax Depreciation, a leading quantity surveying firm specialising in the preparation of tax depreciation schedules for property investors. 
BMT also works with accountants, financial planners, developers and property managers to help to maximise the depreciation deductions available for property investors and commercial property owners.
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Claim $4,852 in 29 days: Bradley Beer

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Last week there were 1,520 capital city auctions, down from 1,582 the previous week.
The combined capital city auction clearance rate was recorded at 67.3% last week, up from 65.6% over the previous week.
Auction clearance rates have now been above 60% for seven consecutive weeks; the last time this occurred was in June 2010.
In Melbourne, Australia’s largest auction market, the clearance rate was recorded at 71.9% last week. This was up from71.3% the previous week. However, the number of auctions which took place in Melbourne fell to 738 from 807 the previous week.
In Sydney, the auction clearance rate increased last week to 72.1% from 67.7% over the previous week.
Auction volumes across Sydney were unchanged over the week with 516 auctions.
<img height="306" width="470" src="/images/stories/2013/05/rpdataauctionsmay23one.jpg" alt="rpdataauctionsmay23one">
Meanwhile, the number of new listings added to the market fell by -2.0% over the last week.
Nationally, 42,451 new listings were added to the market, with 25,768 of these located in a capital city.
With the number of new listings falling over the week, there was also a decline in the number of total listings. There were 283,754 homes advertised for sale over the past four weeks.
Across the combined capital cities there were 127,526 homes available for sale; 45% of the total stock available for sale.
New listings nationally are now -10.8% lower than they were a year ago and total listings are -1.9% lower than they were at the same time last year.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/05/rpdataauctionsmay23two.gif" title="Click to enlarge"><img src="/images/stories/2013/05/rpdataauctionsmay23twothumb.gif"></a>
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Capital city auction clearance rates hit 67.3% while new listings fall: RP Data

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The eighth annual Home Buyer &amp; Property Investor Show will be held at the Brisbane Convention &amp; Exhibition Centre from 1-2 June. The event is a prime opportunity for homebuyers and property investors of all levels to do their research on topics from buying your first home to building a profitable property investment portfolio.
Please note, Property Observer readers are eligible for a free ticket when <a target="_blank" href="https://au-01.adtomafusion.com/event/745565/private_media.propertyobserver.click/9683454%20/click?url=https://brisbane.homebuyershow.com.au/visitor/special-offers">registering here</a>. The promotional code to obtain the free ticket is: OBSERVER
The show will give patrons the opportunity to keep a finger on the property pulse, understand the market, track suburb capital and save on mortgages. Managing director of Informa Exhibitions Harvey Stockbridge says “if you are in the market to purchase a property, the Home Buyer &amp; Property Investor Show is a great opportunity to get up-to-date information regarding the property market and make informed decisions.”
Learn from some of the most successful and experienced experts in Australia, with the highly anticipated free seminar series featuring over 30 seminars by key speakers including Selling Houses Australia’s Andrew Winter, editor of Money Magazine Effie Zahos, Location Location Location’s Bryce Holdaway and the financial judge on Channel Ten’s The Renovator Chris Gray, Margaret Lomas, Lauren Day, Terry Ryder and more.
Free seminar topics include:
<ul>
<li>Three easy ways to cut your home loan interest bill without having to pay a cent more.</li>
<li>Selling and the reality of the real estate market today.</li>
<li>How to create $2,500 per week debt free in retirement with property investment?</li>
<li>Identifying future real estate hotspots.</li>
<li>The smart way to invest in property using your superannuation.</li>
<li>Investing in property? Do it yourself or outsource to the experts?</li>
<li>Effective Property Investing in 2013 and Beyond.</li>
<li>Where to find positive cashflow and growth in 2013/2014.</li>
<li>A close look at the tricks and traps of investing in property.</li>
<li>Using your mortgage as a tool for creating wealth.</li>
</ul>
Visit the event website for a full list of speakers and topics: <a href="https://www.homebuyershow.com.au/">www.homebuyershow.com.au</a>
More than 60 companies will be exhibiting, including banks and non-bank lenders, developers, insurance companies, real estate agents, valuers and many more. Key exhibitors include Commonwealth Bank, ANZ Mobile Lending, AMP, Aussie Home Loans, Australian Mortgage Options, domain.com.au, Central Equity and Property Investment Professionals of Australia.
Visitors to the Home Buyer &amp; Property Investor Show will also have the opportunity to attend the co-located Trading &amp; Investing Seminars &amp; Expo at the Brisbane Convention &amp; Exhibition Centres in June, July and August 2013.
Event details
What: Home Buyer &amp; Property Investor Show 2013
When and Where: Brisbane Convention &amp; Exhibition Centre 1–2 June (Sat–Sun)
Tickets: $13.00 online and $18.00 at the door. All seminars are free upon entry.
Event organiser:: Informa Australia <a href="https://www.informa.com.au/" target="_blank">www.informa.com.au </a>
Please note, Property Observer readers are eligible for a free ticket when <a href="https://au-01.adtomafusion.com/event/745565/private_media.propertyobserver.click/9683454%20/click?url=https://brisbane.homebuyershow.com.au/visitor/special-offers" target="_blank">registering here</a>. The promotional code to obtain the free ticket is: OBSERVER
For full event details visit the website at: <a target="_blank" href="https://www.homebuyershow.com.au/">www.homebuyershow.com.au</a>
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The 2013 Brisbane Home Buyer Show

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Lend Lease’s Darling Quarter and Commonwealth Bank Place development in Sydney took out four awards on its way to claiming the top gong at the 2013 Property Council of Australia/Rider Levett Bucknall Innovation and Excellence Awards.
Commonwealth Bank Place, in the $500 million Darling Quarter precinct, is the largest commercial office development in Sydney’s CBD.
<img height="269" width="470" src="/images/stories/2013/05/darlingquartermay20one.jpg" alt="darlingquartermay20one">
It's a 1.5-hectare development featuring a family playground, retail terrace, children’s theatre and community green.
<img height="527" width="400" src="/images/stories/2013/05/darlingquartermay20two.jpg" alt="darlingquartermay20two">
PCA chief executive Peter Verwer praised Commonwealth Bank Place as an outstanding showcase for social, environmental and economic sustainability.
"Lend Lease has transformed an under-used part of the CBD into a dynamic destination for the community to enjoy, while also providing a world-leading office environment for 6,500 CBA employees," he said.
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Darling Quarter project claims PCA development of the year title

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The Australian Competition and Consumer Commission’s Scamwatch division has warned against cold callers who spruik investments with 'guaranteed' high returns or encourage you to invest in overseas companies.
It <a target="_blank" href="https://www.scamwatch.gov.au/content/index.phtml/tag/ColdCalling">warns people</a> to be vigilant against cold callers promising share, mortgage or real estate investments, high-return schemes, option trading or foreign currency trading.
<img src="/images/stories/2013/05/tweetofthedaymay21.jpg" width="470" height="83" alt="tweetofthedaymay21">
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ACCC's Scamwatch warns against cold callers who 'guarantee' high returns: Tweet of the day

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A senior News Limited executive offered to pay up to $100,000 in legal fees to a Geelong real estate agent embroiled in a legal brawl with a part-Fairfax-owned rival.
A "private and confidential" email sent by News' national real estate czar Tom Panos to Hayeswinckle managing director Danny Hayes in March, obtained by Crikey, states that under the "strictly confidential" deal News would pay 50% of his legal fees to defend himself against Metro Media Publishing, which is half owned by Fairfax.
Metro Media is suing Hayeswinckle and related entity Team 3126 in the Victorian County Court for at least $1.4 million in contract breaches and damages, alleging that it reneged on the terms of an advertising agreement with the MMP-owned Weekly Review Greater Geelong and moved its ads to News' Geelong Advertiser instead.
Panos writes that "to assist you in your defence of the legal action brought against you by MMP we are prepared to reimburse you 50% of the legal fees that you incur ... up to a total aggregate payment by us under this arrangement of $100,000". Hayes replies that he "will talk about payment tomorrow". It is not known whether any cash changed hands.
<img alt="crookmay20one" height="172" width="470" src="/images/stories/2013/05/crookmay20one.jpg">
The other half of The Weekly Review is controlled by local agents, including, originally, Hayeswinckle. At its launch last November, the glossy masthead overseen by former Age property reporter Antony Catalano cleaved about $9 million from News' revenue base.
A updated 19-page statement of claim, <a target="_blank" href="https://media.crikey.com.au/wp-content/uploads/2013/05/MMP-revised-statement-of-claim.pdf">also obtained by Crikey</a>, was lodged by MMP in court on Friday. It alleges Hayes received $215,000 in rebates, free ads and cash from the Addy in exchange for moving his ads across to News.
It is understood Hayes denies the allegations, however he declined to comment when contacted by Crikey today (although he did mention he'd enlisted a "QC" to his defence -- top-line QCs charge around $5000 a day). Tom Panos did not return a message left on his voicemail, and a spokesman for News also declined to comment.
Crikey <a target="_blank" href="https://www.crikey.com.au/2013/02/12/how-big-are-your-balls-fairfax-v-news-in-geelong-ad-war/">first revealed in February</a> that Hayes had been slapped by MMP with a $1.4 million writ alleging Hayes had accepted rebates, secret commissions and a diamond ring from the News-owned Geelong Advertiser to transfer his ads. At the time, Hayes dismissed the claims as "like something out of a Steven Spielberg movie". "The bottom line is simply this … we offer both print mediums to the Geelong public … we let the public decide which medium they want to promote their property in. We just want what’s best for our vendor," he said at the time.
Last October, Hayeswinckle entered into an agreement with MMP -- alongside 25 other leading Geelong real estate agents -- to take an ownership stake in the local masthead, spend $500,000 annually on marketing withThe Weekly Review and plug the title among its client base. In return, Hayeswinckle would share alongside Fairfax in the Weekly Review's profits. However, by December, MMP alleges that Hayes, who previously advertised with the Advertiser, had entered into a covert sponsorship agreement with News instead.
Under Victorian law, real estate agents are banned from retaining a rebate or inducements from media companies?--?agents that fail to pass on the "benefit" to sellers and the media companies that pay them may be liable for prosecution if the benefit is proven to relate directly to vendor spend.
This article originally appeared on <a href="https://www.crikey.com.au/" target="_blank">Crikey</a>.
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Geelong real estate agent offered up to $100k by News Ltd exec in secret legal payment

<html><body>Australian Property Monitors (APM) has released a list of auction results in Brisbane for the weekend of May 18. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Brisbane.pdf" target="_blank" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Brisbane auction results for May 18 weekend

<html><body>Australian Property Monitors (APM) has released a list of auction results in Adelaide for the weekend of May 18. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Adelaide.pdf" target="_blank" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Adelaide auction results for May 18 weekend

<html><body>Australian Property Monitors (APM) has released a list of results from 231 auctions in Melbourne for the weekend of  May 18. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" target="_blank" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Melbourne auction results for May 18 weekend

<html><body>Australian Property Monitors (APM) has released a list of results from 268 auctions in Sydney for the weekend of May 18. The clearance rate was 78.5%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Sydney's 268 auction results show a 78.5% clearance rate

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

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.

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.

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[smartcode_project_cta:default project_id=152737]

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