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Jamie McIntyre and his brother Dennis McIntyre have accepted 10-year bans from ASIC on managing corporation or operating a financial services business.
This follows an agreement between ASIC and the brothers that the five Victorian land banking schemes, promoted through Jamie McIntyre’s 21st Century Group, were unregistered.
It also noted that they operated a financial business without a license at the time that they promoted it to their investors. Liquidators were unable to locate more than $7 million outlaid on controversial options on five landbanking schemes proposed for the outskirts of Melbourne, Bendigo and Townsville.
The McIntyre brothers also agreed to pay the $50,000 legal costs for ASIC.
Fairfax Media reported the $7 million was lost from more than 100 investors.
Justice Bromwich said that there were little prospect of reimbursement to the investors.
"[The defendants] have effectively capitulated in the face of what seemed the inevitable prospect of success [for ASIC] and reached agreement that the relief agreements were necessary and appropriate," said Federal Court Justice Bromwich in his judgement on Monday.
"Five illegal investment schemes were operated by the eight companies associated with Jamie and Dennis McIntyre," Justice Bromwich said.
Deloitte were appointed as joint liquidators to the corporate respondents to ASIC’s proceeding that commenced in August last year.
There is an unrelated property group by the same name. 
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j.ballantyne1990-6AQqhLzZaK

Landbanking 21st Century's Jamie McIntyre and brother accept 10 year bans from ASIC

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The number of national residential vacancies rose in September, with 75,412 rental homes available, giving a national vacancy rate of 2.4 percent, up from 2.3 percent in August 2016, according to SQM Research.
The biggest capital cities Sydney and Melbourne recorded vacancies rates of 1.8 percent and 2.0 percent, respectively, up marginally from August 2016, while Brisbane’s vacancy rate rose to 2.9 percent, up from 2.7 percent.
Perth reported the highest vacancy rate at 5 percent, though it was steady from the previous month.
Hobart had the tightest rate at just 0.6 percent. Year-on-year results demonstrate that the national vacancy rate is up slightly.
<a href="/images/2016/10/18/vacancy.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/18/vacancy.jpg" alt="">
Reflecting its high vacancy rate, Perth has again recorded big falls in asking rents of 9.5 percent for houses and 11.1 percent for units over the past 12 months.
Yearly falls have also been posted in Darwin, with asking rents down 4.8 percent for houses and 3.5 percent for units, though Darwin remains the second most expensive city for rents in Australia, following Sydney, where asking rents for houses sit at $725 a week and $511 for units.
Asking rents have also jumped in Canberra, up 12.3 percent for houses and 9.3 percent for units from a year earlier. Despite a tight vacancy rate, Hobart continues to offer the most affordable rental accommodation, with houses costing just $359 a week and units averaging $287 a week.
Managing Director of SQM Research, Louis Christopher, said: "Asking rents have slipped back in Brisbane as vacancy rates have continued to rise this year.
At 2.9 percent, the rental market is favouring tenants and given the ongoing new apartment surge, I think rents in Brisbane will continue to fall from here, particularly in the inner city.
“Looking forward, vacancies are likely to rise in Melbourne, Brisbane and Sydney over 2017 as more new high-rise apartment developments come onto the market. However, we maintain that the oversupply issue appears to be constrained to concentrated areas such as the inner-city regions. We are not as confident we will see a contagion affect where the whole capital city market is affected.”
<a href="/images/2016/10/18/weekly%20rent%20index.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/18/weekly%20rent%20index.jpg" alt="">
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties.
SQM considers this to be a superior methodology compared to using a potentially incomplete sample of agency surveys or merely relying on raw online listings advertised.
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Vacancy rates rise in September: SQM Research

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A charming, traditional cottage converted into a hair and beauty salon is now under offer in Brisbane.
Located at <a href="https://www.realestate.com.au/property-house-qld-paddington-123488754" target="_blank">193 Latrobe Terrace</a>, the 111 sqm retail business premises are often admired.
It was converted into the salon in 2008.
It last sold at $1.13 million in 2008, around double the $560,000 of four years earlier.
The nostalgic, inner city haven enjoys an elevated northerly aspect with space for entertaining clients, casual workplace luncheons.
A private and modern downstairs apartment (74m2 approx.) offers two bedrooms, galley kitchen and a comfortable living area with French doors opening onto the large lower deck.
It also provides off street parking sufficient for three cars with public transport directly in front of the property.
The property is offered through Ray White agent George Hadgelias.
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Charming, traditional Paddington Queensland hair and beauty salon offering

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Coronation Property has announced QT Hotels &amp; Resorts has entered into an agreement to open its third hotel in New South Wales within the 8 Phillip Street mixed-use apartment tower in Parramatta. 
The hotel will be Parramatta’s first five-star offering.
The Woods Bagot designed 54 storey building will include 14 levels of designer QT Hotel accommodation below 35 levels of apartments. 
The building design includes capacity for 205 standard deluxe rooms, 50 executive deluxe rooms and two QT suites.
The quirky designer hotel will feature a stunning three storey lobby void, which will be independent from the adjacent residential lobby. 
Inspiration for the lobby’s three storey staircase was drawn from Louis Vuitton’s Vienna outlet.
Hotel amenities will include a signature QT bar &amp; grill restaurant which will also be open to the public, multiple meeting and event spaces, a ballroom accommodating 200 people seated and an alfresco infinity pool on the 18th storey.
Joe Nahas, Managing Director, Coronation Property said 8 Phillip Street’s world-class design will be a transformative project for Parramatta.
QT Hotels’ signature designer, yet quirky spaces, combined with bold entertainment and relaxing guest experiences has become renowned in the hotel and hospitality sector since it opened QT Gold Coast in 2011. 
QT'S David Seargeant said its hotels were sort out by design driven travellers. 
"Coronation Property’s high standard of design for this project aligns perfectly with our brand making this such a great partnership.”
David Borger, Director, Sydney Business Chamber Western Sydney, said iIn the next five years the economy is expected to grow by 30 per cent, to $30 billion, with many new businesses centring their operations in Parramatta, bringing with them an additional 29,000 white collar office workers looking to live in Parramatta.
8 Phillip Street is scheduled to open in 2020.
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Coronation Property’s transformative ‘8 Phillip Street’ to include Parramatta’s first luxury design-driven hotel

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Floth Sustainable Building Consultants has beaten an impressive field, taking out the international World Green Building Council (WorldGBC) commercial award for Leadership in Sustainable Design and Performance.
Floth’s Brisbane-based headquarters, 69 Robertson Street won the award for its ability to generate 53 per cent fewer operational carbon emissions than a building built to regulation standards.
Floth Managing Director R. Glenn Ralph said the competition was extremely tough, but the win reflected the significant amount of work that went into the design of the building.
“We are particularly proud of winning this award as it embodies the engineering approach we apply to all projects and the quality of product we strive to deliver,” Mr Ralph said.
“We strongly believe that all developments in the built environment should not only be environmentally responsible, but must also be economically sustainable.
“The key learnings taken from the design and build of our HQ will now be applied to client’s projects to deliver even further on sustainable design and building performance outcomes.
“69 Robertson Street has achieved a number of firsts for us here in Australia, including the Green Building Council Australia’s first 6 Star Green Star – Design &amp; As Built v1.1 rating building.”
The Leadership in Sustainable Design and Performance Award is presented to green buildings that set new benchmarks for sustainability and design.
Floth Environmentally Sustainable Design (ESD) Principal Anthony Marklund said a number of sustainable features were integrated into the design.
“Our headquarters spans over three storeys with more than 1,000sqm of floor space, to offset our operational energy we have installed a roof-mounted solar photovoltaic system that offsets 28 per cent of operational energy generated by the building,” Mr Marklund said.
“Our goal was to also ensure we designed and delivered a zero carbon building, which has been achieved through the purchase and supply of 100 per cent GreenPower.”
Floth’s headquarters also operates a heat recovery variable refrigerant flow air conditioning system that is able to move heating or cooling from one part of the building to another as needed.
Floth has recently added a trio of Australian firsts to their repertoire of achievements with a Green Star Design and As Built v1.1 certified rating; a 6 star NABERS Indoor Environment rating and the first building in Australia that has formally adopted the Australian Sustainable Built Environment Council's (ASBEC) standard definition of a zero carbon building.
Floth Sustainable Building Consultants is one of Australia’s leading building services and engineering consultancy practices for more than 30 years.
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Accolades for Floth HQ at World Green building awards

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Homeowners in Australia are active home upgraders, according to the 2016 Houzz &amp; Home report.
Houzz, the website platform for home renovation and design, undertook a study, of almost 14,000 respondents in Australia and over 229,000 respondents globally.
It revealed that more than half renovated their homes in 2015 (56 percent), with a similar portion reporting their plans to renovate in 2016 (49 percent).
Almost half of renovating Australian homeowners opt to take on a renovation instead of buying an already “perfect” home due to their desire to stay in their current home or lot (46 percent). A third choose the renovation route in order to remain in their current neighbourhood (33 percent), with 29 percent choosing renovation because it was a more affordable option.
For Millennials, financial considerations are more top of mind – over a third cite affordability as the top reason for renovating versus buying (36%). When it comes to the triggers behind taking on a renovation project, finally having the time tops the list for Aussie renovators (35% of homeowners who renovated their primary homes in 2015), ahead of finally having the financial means (34 percent).
“As the largest survey of home renovation, decorating, and building activity published, Houzz &amp; Home provides unprecedented insights into how homeowners are updating their homes,” said Nino Sitchinava, principal economist at <a href="https://www.houzz.com.au/">Houzz</a>. “Our 2016 findings uncover the factors behind what is driving so many Australian homeowners to renovate to create their ideal home rather than purchasing one that is ‘perfect’ as is, as well as how these factors differ by generation. Interestingly, while the generation of homeowners between the ages of 24 and 34 still comprise a small share of the homeownership population, we’re finding that they are quite active when it comes to home upgrades, and are eager to make their homes their own.”
POPULAR PROJECTS
● Homeowners are prioritising renovation and addition projects in their kitchens (26 percent and 6 percent, respectively), living/family room (25 percent and 7 percent, respectively), non-master bedrooms (20 percent and 4 percent, respectively) and master bathrooms (19 percent and 4 percent, respectively).
● Updating an outdated or undesirable design/style is the top issue addressed in Aussie kitchens and bathrooms (44 percent and 49 percent, respectively). Old or outdated finishes is the top issue being addressed in other interior room renovations (38 percent).
● Many homeowners are tackling home systems upgrades including plumbing (32 percent), electrical (31 percent) and cooling (19 percent).
● For exterior upgrades, top projects include updates to paint (28 percent), gutters/drain pipes (22 percent) and decking (22 percent).
BUDGET? WHAT BUDGET?
● One-third of renovating homeowners take on a renovation project without setting a budget (33 percent), and close to the same share exceed their established budget (27 percent). These figures are largely consistent across all age groups.
● The top budget buster is the decision to opt for more upscale products and materials (44 percent), ahead of products/services being more costly than expected (42 percent) and the discovery of unexpected construction-related issues (33 percent).
● Aussie homeowners on Houzz spent $68,300 on average in home improvements in 2015. Homeowners aged 35-54 drive home renovation spend ($80,300 on average), investing almost twice as much as Millennial homeowners in their home upgrades ($41,200 on average) and a fourth more than those aged 55+ ($57,500 on average).
● When it comes to spending on kitchen renovations – the top home renovation project in 2015 – homeowners spent an average $31,000 on major renovations* of a large kitchen (more than 12 square metres), and $21,840 for major renovations of a small kitchen (less than 12 square metres).
● In terms of bathrooms, homeowners spent an average of $16,440 on major renovations* of a large bathroom in 2015 (more than 5 square metres), and $14,770 for major renovations of a small bathroom (less than 5 square metres).
● How did homeowners finance these projects? The majority of homeowners continue to use personal savings/finances to fund their renovations (78 percent), followed by cash from mortgage refinances (16 percent) and credit cards (14 percent).
A HELPING HAND
● Nine in ten homeowners renovate their homes with professional help (89 percent).
● Professional hiring is popular across all generations of homeowners, although it is slightly higher among those age 55 and over (91 percent, vs. 89 percent for those 35-54 and 85 percent of those 25-34).
● A third of homeowners who hire a professional for their renovations select a home builder (21 percent), while 14 percent hire a kitchen designer or renovator, and 13 percent hire a landscape contractor or gardener.
● Top specialty trades include electricians (71 percent), plumbers (57 percent), and carpenters (40 percent).
THE HOUZZ &amp; HOME SURVEY
*A major renovation at minimum replaces all cabinetry and appliances. Additions are not included in these numbers. Numbers include both DIY projects and those which used design or construction professionals.
The full Australian report is available <a href="https://info.houzz.com/rs/804-JLJ-529/images/Australia_Houzz_%26_Home.pdf">here</a>.
The full Australian report is available <a href="https://info.houzz.com/rs/804-JLJ-529/images/Australia_Houzz_%26_Home.pdf" target="_blank">here</a>.
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Renovation trumps buying 'perfect' home, Houzz study finds

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Fitzroys has sold a landmark commercial site in Melbourne’s inner-west, with a Seddon corner site fetching $4.6 million under the hammer.
The 833 square metre property at 70 Charles Street, on the corner of Charles and Victoria Streets, comprises two individual titles.
Fitzroys agent Michael Ryan said more than 100 enquiries were received during the campaign, with four bidders competing for the property.
He said an offshore investor/developer won out after the bidding pushed the price $1 million above the reserve.
The Commercial 1-zoned site was offered with vacant possession.
<img src="/images/2016/10/18/IMG_3185.JPG" alt="">
 
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Seddon commercial corner site sells

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A private investor has secured a presence in Dandenong South’s industrial market with the purchase of a 1,119 square metre property for $1,575,000.
CBRE negotiated the deal of 41-45 Williams Road on behalf of Scanlon Property Holdings and Bracken Property Holdings, with the sale reflecting a building rate of $1,407 per square metre.
Located three kilometres from the Eastlink Freeway, the property is occupied by multinational aerospace and transportation specialist Bombardier Inc – a Canadian Stock Exchange listed company until April 2019.
CBRE's Ben Mensink said the attraction of a global tenant provided investment confidence in the property.
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Investor takes flight to Dandenong industrial precinct 

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Darwin has the highest residential rental vacancy rates with Perth following closely behind, according to QBE’s latest housing report.
The vacancy rate is calculated as the number of unoccupied rental dwellings as a percentage of the total rental stock and is sourced from a survey of state Real Estate Institute members.
The vacancy rate in each city is a measure of the balance of rental demand and rental supply. A vacancy rate of 3% in a market is considered balanced, where rents on average will rise broadly in line with inflation.
• In Sydney, since 2006 there has been a considerable deficiency of residential dwelling stock after an extended period of low new dwelling construction. Given the extent of the dwelling shortage, vacancy rates have remained tight at 1.8% in June quarter 2016, and the return to a balanced rental vacancy rate is unlikely to occur until beyond 2018/19.
• In Melbourne, vacancy rates were below the balanced market level of 3% in 2013/14 and 2014/15. However, with record dwelling completions vacancy levels are now closer to balance at 2.7% in June quarter 2016. With dwelling completions on track to increase further in 2016/17, vacancy rates in Melbourne are expected to move above 3% over the year.
• Brisbane vacancy rates increased marginally to 2.8% at June 2016; still close to the balanced market rate. In Adelaide, vacancy rates have risen to 3.3% in the same period. Vacancy rates in both cities are anticipated to continue to trend upwards. In Brisbane, the forecast is due to upcoming dwelling completions outpacing demand, and in Adelaide the excess of dwelling stock may rise further due to weak population growth.
• Perth (6.0%) and Darwin (6.4%) recorded the highest vacancy rates among all capital cities at June 2016. Rising new dwelling completions, rapidly slowing net overseas migration inflows and falling interstate migration levels, as a result of the collapse in mining investment are causing an exit from rental properties. As a result, the pace of new rental tenants coming to the market is failing to keep up with the pace of new additions to the rental stock.
• In Hobart, vacancy rates remain at the upper end of the 2–3% band. Elevated dwelling completions relative to population growth are keeping the market around balance.
• In the Australian Capital Territory, declines in rents appear to be attracting new tenants with its vacancy rate falling to 2.5% in June 2016.
With both states estimated to experience a rising dwelling surplus, the downward trend in vacancy rates is not expected to continue.
Rental growth, as calculated from the rental component of the Consumer Price Index, was strong in the latter half of the 2000s after a period of underperformance in the first half of the decade. In recent years, rental growth has generally been moderate, despite vacancy rates remaining tight in all capital cities up to 2013. This suggests there may be some rental affordability constraints preventing stronger rises.
<a href="/images/2016/10/13/Chart%209.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/13/Chart%209.jpg" alt="">
• With a deficiency of dwellings in place and low vacancy rates, New South Wales had the highest level of rental growth of 2.2% in 2015/16. In Hobart, a lower vacancy rate of 2.8% assisted the second highest level of rental growth of 2% in 2015/16. Melbourne and Adelaide, with rental growth of 1.4% and 1% respectively, experienced minimal rental growth as their respective vacancy rates rose above the balanced market rate over the year.
• Brisbane and Canberra rents stayed fairly static in 2015/16, despite a low vacancy rate in Canberra. Canberra recorded a 0.5% decline in rents, which is an improvement on its 2.7% decline in 2014/15.
• In Darwin and Perth, rents declined by 6.4% and 5.2% respectively in 2015/16.This reflects the high level of vacancy rates in each capital city. In both states, while new dwelling supply continues to rise, falling resource investment spending is leading to significant reductions in migration and subsequent weaker tenant demand.
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Darwin has the highest vacancy rates while NSW records highest rental growth: QBE Housing Outlook

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A five level Cremorne office complex is up for sale ahead of its expected completion in 2017.
The property at <a href="https://www.commercialrealestate.com.au/property/16-dover-street-cremorne-vic-3121-2013091281" target="_blank">16 Dover Street</a> has floor spaces available with offices ranging from 65 square metres to 790 square metres, all with external terraces included.
There is also a secure onsite car parking available per office with the optional choice to add more car spaces for a cost.
The Bialkower family is selling the strata office space off the plan in a $7 million development having previously focused on industrial projects.
<img src="/images/2016/10/03/16%20Dover%20Street.jpg" alt="" style="font-size: 12.16px; line-height: 1.3em;">
It has been marketed as "the perfect SMSF purchase suitable for businesses with three to 70 staff members".
For a limited time stamp duty savings and tax benefits are available through CBRE.
It was previously a <a href="https://www.realestate.com.au/property/16-dover-st-cremorne-vic-3121" target="_blank">warehouse</a> prior to its redevelopment.
Figures compiled by CBRE show strata office values in Melbourne have risen 10 per cent to 15 per cent in the last year to range from $7000 to $11000 per square metre, making them comparable with the returns achieved on residential apartment developments.
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Off the plan Cremorne office space for sale

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Joel Robinson

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

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