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A Gold Coast United Labrador petrol station has been sold for $8,975,000 to a private investor.
Located six kilometres north of Surfers Paradise, the station is 225 square metres with a canopy area and four numbers bowers with 28 pumps, capable of servicing eight vehicles at a time
There is a total of 446 square metres of gross lettable area.
The sale realises a full leased initial yield of 5.12 percent.
Built in 2016, the property also contains 284 square metres of sub-leased tenancies.
JLL’s Doug Rapson and Campbell Bowers from Retail Investments managed the offer to market and auction.
Rapson said the sale pointed to an upturn in the strength and demand of the Gold Coast market.
“As the Gold Coast continues to transition from a seasonal tourism destination, to a mature diversified city, the demand for public and private investment into residential, commercial and infrastructure projects will increase,” he said.
“We strongly believe that the Gold Coast will continue to outperform the broader QLD economy for the foreseeable future and that major institutional investment will continue to gain momentum.”
 
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j.ballantyne1990-6AQqhLzZaK

Gold Coast petrol station sold for $8,975,000

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Real estate disruptor, the ASX-listed DIY platform buyMyplace.com.au recently hit a milestone of 4000 properties sold over the past decade.
They were worth a combined $2.1 billion since launching in 2007.
The commission free real estate company advised they continue to experience strong growth, despite market activity declines.
The company has also conﬁrmed the appointment of Linda Dillon to the role of Head of Acquisitions and Integration to spearhead its proactive acquisi-tion and partnership strategy.
A quarter of their sales have occurred in the past year with buyMyplace chief executive Paul Heath say the concept appealed to people with the time, confidence and desire to do it themselves.
BuyMyplace charges fees starting from $700 for a basic selling package plus $900 if vendors take their home to auction.
It claims to save over $15,000 in agent commissions and marketing fees on a $500,000 home.
Another DIY selling platform, forsalebyowner.com.au, claims to have sold over 7000 properties worth more than $3 billion since beginning operations in 2011.
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Real estate disruptors gain market share

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The Tax Office has illustrated why the budget clamped down on property investors on depreciation.
They have cited landlords having inflated deductions as much as 1000 percent.
The budget included a measure restricting depreciation deductions which will raise $260 million in the next four years.
"The ATO has actively monitored this area over many years," an ATO spokesman told The Australian Financial Review.
"During this time we have identified a number of issues relating to inflated valuations of depreciable assets in rental properties."
The spokesman said that one of the ATOs concerns was the use of the "new for old" method, which effectively values assets at new prices even if they are years old.
The ATO gave one example of a landlord who had valued the equipment in their property by 600 percent to 1000 percent.
"We have seen one depreciation schedule for a 40-year old property where a reasonable market valuation would have been in the range of $3,000 to $5,000 but the depreciating assets were valued at $32,753," the spokesman said.
Under the new measures from July 1, 2017, the government will limit plant and equipment depreciation deductions to outlays actually incurred by investors in residential properties.
They will not be able to depreciate equipment that was already installed when they acquired the property.
Plant and equipment items are usually deemed as mechanical fixtures such as dishwashers, door closers and ceiling fans.
Negative geared landlords have no obligation to work out whether an item had already been written off in whole or part by the previous owner.
It was difficult for the ATO to check up.
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ATO says overclaiming triggered costly depreciation budget changes

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Melbourne agents offered a weekend auction smorgasbord of culinary-connected inner city offerings.
<a href="https://www.realestate.com.au/property-house-vic-carlton+north-125308038" target="_blank">The Carlton North home</a> (above) of late Japanese restaurateur, Kunihiro “Kuni” Ichikawa fetched $2.3 million.
There were eight bidders seeking the 278 sqm two bedroom Reserve Street offering which was built for him in 1967 with Japanese influences.
Alexkarbon selling agent Tony Downward noted Ichikawa introduced sushi to Australia after opening Kuni’s in the CBD in 1977.
He lived there until he died early last year aged 67.
There was a $740,000 sale of an apartment above the Collingwood eatery, The Noble Experiment.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.18.52%20AM.png" alt="">
<a href="https://www.realestate.com.au/sold/property-apartment-vic-collingwood-125311910" target="_blank">The apartment</a>, (above) located in the old Comarty's building located on the corner of Smith and Otter Streets, had traded in 2007 at $497,500.
The pre-auction selling range was $700,000 to $770,000.
At Fitzroy North a three-bedroom apartment atop an Italian restaurant attracted keen interest.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.20.39%20AM.png" alt="">
Nelson Alexander Fitzroy auctioneer Arch Staver said the $975,000 price was $225,000 above reserve when an investor outbid four others to win the keys of <a href="https://www.realestate.com.au/sold/property-house-vic-fitzroy+north-125312074" target="_blank">the Queens Parade offering</a> (above).
The weekend preliminary auction average clearance rate has risen again to 77 percent on the second last Autumn weekend, according to CoreLogic’s latest update.
Auction activity across the combined capital cities increased this week too, up from 2,409 auctions last week, to 2,794 this week, making it the sixth busiest week so far this year.
The clearance rate across the combined capitals was 77.2 percent, increasing from a final clearance rate of 72.8 percent over the previous week.
At the same time last year, both volumes (1,920) and the clearance rate (68.9 percent) were lower.
The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise, with Sydney at 80.7 percent and Melbourne at 79.2 percent, although Kevin Brogan, the CoreLogic auction analyst said that Sydney, and to a lesser extent Melbourne, tend to revise down over the week when the remaining results are captured.
Over the previous week, Sydney’s preliminary clearance rate of 79.4 percent was revised down to 74.5 percent when finalised.
Across the smaller capital city markets, Brisbane was the only city where preliminary clearance rates fell week-on-week.
Sydney was host to 1,053 auctions this week and a preliminary clearance rate of 80.7 percent was recorded, rising from 74.5 percent last week across 960 auctions.
One year ago, 735 auctions were held across Sydney and 73.2 percent were successful.
It was the strongest result since April 9.
Eight of the 15 sub-regions recorded clearance rates of at least 80 percent with the stand outs being Sydney's Inner West 88.9 percent and Sutherland's 88.6 percent.
A Sydney Harbour waterfront house at Northbridge sold for $9.3 million making it the nation’s most expensive weekend auction sale.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.24.01%20AM.png" alt="">
The <a href="https://www.realestate.com.au/property-house-nsw-northbridge-125329386" target="_blank">67 Coolawin Road</a> home (above) on 1890 sq m was marketed through Shead Property as a "once in a generation opportunity." 
The Middle Harbour home has an extensive garden that leads to a private boat house and pontoon along with wide level garden frontage.
There were 1,323 auctions held in Melbourne this week with a preliminary clearance rate of 79.2 percent. 
This week’s result shows a rise in the clearance rate for the city, after Melbourne’s final clearance rate was recorded at 75 percent last week, the lowest clearance rate for the city so far this year.
Over the same week last year, Melbourne’s clearance rate was 70 percent across 843 auctions.
Melbourne's highest was a four bedroom 1907 Queen Anne Federation house at Camberwell.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.25.26%20AM.png" alt="">
Agents secured $5.02 million for Croydon at <a href="https://www.realestate.com.au/sold/property-house-vic-camberwell-125286186" target="_blank">28 Kintore Street</a>, (above) positioned in the highly-prized Tara Estate close to Junction shopping.
Last sold in 1994 for $650,000, and before that $116,000 in 1979, the century-old charmer set on almost 900q m, was offered through Jellis Craig who had a price guide of $4.5 million to $5 million.
The Herald Sun reported there had been a $5 million reserve for the home that attracted three bidders.
Melbourne had the cheapest sale of the nation when a two bedroom villa at Melton South sold for $251,000.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.28.33%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/property-house-vic-melton+south-125247254" target="_blank">1/18 Toolern Street</a>, the 1980-built villa was marketed as suitable for first home buyers, investors and downsizers.
It last sold at $207,000 in 2012.
There is 90 sqm space with indoor/outdoor zones comprising of central lounge/meal area that opens to an alfresco courtyard.
The property was offered through Raine &amp; Horne agents Kieran Carson and Genna Di Pasquale.
Of the Melbourne sub-regions, seven of the nine regions recorded clearance rates at or above 75 percent, with the highest clearance recorded across the Outer East, with preliminary results showing 87.8 percent of the 98 results were successful.
There were 160 Brisbane homes taken to auction this week, with 93 results reported so far. 
A six bedroom Clayfield house sold for $1.75 million through Ray White agent Damon Warat was Brisbane’s most expensive reported weekend auction sale.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.33.55%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/property-house-qld-clayfield-125260494" target="_blank">122 Alexandria Road</a>, the property has been recently renovated. It last traded in 2010 at $1.3 million.
The preliminary clearance rate for Brisbane at 51.6 percent, was the only capital city down from last week, when it was 59 percent, but similar to one year ago, when 50.9 percent of the 131 properties taken to auction were successful.
In Adelaide, a 70.4 percent preliminary result was recorded this week across 114 auctions.
The 102 Adelaide auctions returned a clearance rate of 63 percent, while at the same time last year, 92 homes were taken to auction, with 68.8 per cent recording a successful result.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/21/700_esplanade.jpg" alt="">
There was no sale when a stunning six-bedroom Glenelg North Victorian-Italianate style home at <a href="https://www.realestate.com.au/property-house-sa-glenelg+north-125280622" target="_blank">36 North Esplanade</a> (above) attracted three registered bidders, but then no bids.
Adelaide's cheapest sale was a two bedroom Kent Town unit sold for $342,000.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.52.09%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/sold/property-unit-sa-kent+town-125359730" target="_blank">3/2-8 College Road</a>, (above) the property last sold in 2005 at $230,000.
Set 10 minutes from Rundle Street, the property was offered through Harris Real Estate who had offered $320,000 price guidance.
Across Canberra, 85 homes were taken to auction this week.
Preliminary results show a clearance rate of 75.3 percent, up from 74.3 percent the previous week.
A five bedroom elevated Red Hill house sold for $1.541 million making it Canberra's most expensive weekend auction sale.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.53.19%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/sold/property-house-act-red+hill-125308426" target="_blank">26 Fishburn Street</a> (above), the property that overlooks a treetop landscape had last sold at $1.38 million in 2015.
The 1960s home, with 1990s renovation, was marketed with additional potential for redevelopment or renovation through Peter Blackshaw Real Estate agent Andrew Chamberlain.
Perth’s preliminary clearance rate was 50 percent this week, up from 42.1 percent last week.
This week 48 Perth homes were auctioned.
At the same time last year, 42.9 percent of Perth auctions cleared.
 
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Strong May weekend for Sydney, Melbourne auctions

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A two bedroom villa at Melton South sold for $251,000 making it Melbourne’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-vic-melton+south-125247254" target="_blank">1/18 Toolern Street</a>, the 1980-built villa was marketed as suitable for first home buyers, investors and downsizers.
It last sold at $207,000 in 2012.
There is 90 sqm space with indoor/outdoor zones comprising of central lounge/meal area that opens to an alfresco courtyard.
The property was offered through Raine &amp; Horne agents Kieran Carson and Genna Di Pasquale.
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Two bedroom Melton South home sold for $251,000

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A two bedroom Kent Town unit has sold for $342,000 making it Adelaide’s most cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-unit-sa-kent+town-125359730" target="_blank">3/2-8 College Road</a>, the property is a short walk from the city. It last sold in 2005 at $230,000.
Two bedrooms are available with the master bedroom being spacious.
Kitchen features stone benchtops, induction cooktop and breakfast bar.
Set 10 minutes from Rundle Street and metres from public transport, the property was offered through Harris Real Estate agents Tom Hector and Jarred Stamoulis.
They had offered $320,000 price guidance.
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Two bedroom Kent Town unit sold for $342,000

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The weekend preliminary auction average clearance rate has risen to 77 percent on the second last Autumn weekend, according to CoreLogic’s latest report.
Auction activity across the combined capital cities increased this week, up from 2,409 auctions last week, to 2,794 this week, making it the sixth busiest week this year.
This week's weighted average clearance rate across the combined capitals was 77.2 percent, increasing from a final clearance rate of 72.8 percent over the previous week.
At the same time last year, both volumes (1,920) and the clearance rate (68.9 percent) were lower.
<a href="https://www.propertyobserver.com.au/images/2017/05/21/Screen%20Shot%202017-05-21%20at%2011.38.28%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/21/Screen%20Shot%202017-05-21%20at%2011.38.28%20am.jpg" alt="">
The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise, with Sydney at 80.7 percent and Melbourne at 79.2 percent, although Kevin Brogan, the CoreLogic auction analyst said that Sydney, and to a lesser extent Melbourne, tend to revise down over the week when the remaining results are captured.
Over the previous week, Sydney’s preliminary clearance rate of 79.4 percent was revised down to 74.5 percent when finalised.
Across the smaller capital city markets, Brisbane was the only city where preliminary clearance rates fell week-on-week so again it will be interesting to see how the clearance rates hold when the final figures are released on Thursday.
<a href="https://www.propertyobserver.com.au/images/2017/05/21/Screen%20Shot%202017-05-21%20at%2011.38.43%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/21/Screen%20Shot%202017-05-21%20at%2011.38.43%20am.jpg" alt="">
There were 1,323 auctions held in Melbourne this week with a preliminary clearance rate of 79.2 percent.
This week’s result shows a rise in the clearance rate for the city, after Melbourne’s final clearance rate was recorded at 75 percent last week, the lowest clearance rate for the city so far this year.
Over the same week last year, Melbourne’s clearance rate was 70 percent across 843 auctions.
<a href="https://www.propertyobserver.com.au/images/2017/05/21/Screen%20Shot%202017-05-21%20at%2011.38.59%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/21/Screen%20Shot%202017-05-21%20at%2011.38.59%20am.jpg" alt="">
Of the Melbourne sub-regions, 7 of the 9 regions recorded clearance rates at or above 75 percent, with the highest clearance recorded across the Outer East, with preliminary results showing 87.8 percent of the 98 results were successful, followed by the North East where 81.7 percent of auctions cleared.
Sydney was host to 1,053 auctions this week and a preliminary clearance rate of 80.7 per cent was recorded, rising from 74.5 percent last week across 960 auctions.
One year ago, 735 auctions were held across Sydney and 73.2 per ent were successful.
<a href="https://www.propertyobserver.com.au/images/2017/05/21/Screen%20Shot%202017-05-21%20at%2011.39.09%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/21/Screen%20Shot%202017-05-21%20at%2011.39.09%20am.jpg" alt="">
Looking at the sub-regions of Sydney, 8 of the 15 sub-regions recorded clearance rates of at least 80 percent with the stand outs being the Inner West (88.9 percent), Sutherland (88.6 percent), North Sydney and Hornsby (88.6 percent) and Eastern Suburbs (88 percent) regions.
There were 160 Brisbane homes taken to auction this week, with 93 results reported so far.
The preliminary clearance rate for the city is 51.6 percent, down from 59 percent last week and similar to one year ago, when 50.9 percent of the 131 properties taken to auction were successful.
<a href="https://www.propertyobserver.com.au/images/2017/05/21/Screen%20Shot%202017-05-21%20at%2011.39.21%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/21/Screen%20Shot%202017-05-21%20at%2011.39.21%20am.jpg" alt="">
Across the Gold Coast 20 results have been reported so far, with a success rate of 45 percent (9 sales).
In Adelaide, a 70.4 percent preliminary result was recorded this week across 114 auctions.
Last week, 102 Adelaide auctions returned a clearance rate of 63.0 percent for the city, while at the same time last year, 92 homes were taken to auction, with 68.8 percent recording a successful result.
<a href="https://www.propertyobserver.com.au/images/2017/05/21/Screen%20Shot%202017-05-21%20at%2011.39.31%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/21/Screen%20Shot%202017-05-21%20at%2011.39.31%20am.jpg" alt="">
Perth’s preliminary clearance rate was 50 percent this week, up from 42.1 percent last week.
This week 48 Perth homes were auctioned, while 18 results have been reported so far.
At the same time last year, 42.9 percent of Perth auctions cleared.
Across Canberra, 85 homes were taken to auction this week.
Preliminary results show a clearance rate of 75.3 percent, up from 74.3 percent the previous week.
Tasmania was host to 11 auctions this week and so far 5 have been reported with 4 sales.
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Sydney's weekend auction market returns to another 80 percent success rate: CoreLogic

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The Housing Finance statistics, released by the Australian Bureau of Statistics last week, continue to show volatility, but with a positive result for total dwelling finance for the month of March, up by 0.9 percent.
“Performance across the States was mixed, with the number of commitments increasing in NSW, Tasmania, the Northern Territory and the ACT, slightly edging out a fall in the number of dwelling commitments in Victoria, Queensland, Western Australia and South Australia,” Matthew Pollock, Master Builders, National Manager Housing said.
“The number of first home buyer loans jumped by 20 percent in March, recording an extra 1,350 loans on top of the February statistics.
But the share of first home buyer loans is still very low, at 13.6 percent of total loan commitments in March, compared to a decade average of around 18 percent,” Matthew Pollock said.
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Finance for first-home buyers lifts but remains low

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A waterfront house at Northrbidge has been sold for $9.3 million making it Sydney’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-nsw-northbridge-125329386" target="_blank">67 Coolawin Road</a>, the once in a generation opportunity sits on a 1890 sqm block of land.
Featuring panoramic 180 degree vistas overlooking  the picture-perfect Middle Harbour waters.
It has an extensive garden that leads to a private boat house and pontoon along with wide level garden frontage.
A lounge and glass-enclosed sunroom is available with the sunroom having views.
Separate rumpus, original open plan kitchen and dining areas are also featured.
Upstairs are three bedrooms that captures the harbour while the master bedroom has its own ensuite and access to a wraparound terrace.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/21/67%20Coolawin%20Road-2.jpg" alt="">
A swimming pool is a possibility pending a renovation along with a double garage.
Less than 150 metres walk to buses that goes to the CBD while golf clubs, shops and cafes are just a short stroll away as is the Northbridge Sailing Club.
The property was offered through Shead Property agents Isabella Yan and Dick Crampton.
The home at 67 Coolawin Road Northbridge attracted 12 registered bidders.
The home has been owned by Dr Frederick Stephens - now 102-years-old - for 51 years. 
Dr Stephens was a pioneer of medical research, dedicating much of his time to developing a machine that monitored blood flow whilst a patient was under a general anesthetic. 
His machine took home the ABC's Inventor of the Year award in 1979.
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Once in a generation waterfront Northbridge offering fetches $9.3 million

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An expansive country estate in Jamberoo, New South Wales has been listed for sale with a price guide of $2.78 million.
The seven bedroom residence known as Christmas River at <a href="https://www.eldersrealestate.com.au/residential/buy/property-house-nsw-jamberoo-682799" target="_blank">317 Jerrara Road</a> features a warm and inviting farmhouse design.
<img src="https://www.urban.com.au/images/2017/05/19/rsz_jerrara.png" alt="">
Jamberoo is a small, historic village located 90 minutes to Sydney and 5 minutes to Kiama's beaches.
The area has a median house price of $872,500, according CoreLogic.
A four bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-jamberoo-124718026" target="_blank">91 Riversdale Road</a> sold recently for $1.3 million.
The two-storey Christmas River home offers four bathrooms, an office or guest bedroom, chef’s kitchen with butlers pantry, central dining room, theatre room, winter room, multiple fireplaces and lush rural views from every room.
<img src="https://www.urban.com.au/images/2017/05/19/rsz_1jerrara1.png" alt="">
Set on 4000 sqm, the property comes with landscaped gardens, pool, ivy covered equipment cottage, rivers edge gazebo, tree house, orchard with free range chicken garden and coop, pizza oven, BBQ area and an alfresco dining verandah.
Elders Real Estate Jamberoo agent Vivienne Marris has the listing.
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Country estate Christmas River listed in Jamberoo 

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Staff reporter

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