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Construction is now underway on La Trobe University’s $100 million student accommodation project at its Melbourne campus in Bundoora.
It is the largest investment for a single project in the university’s history.
The project is part of a $5 billion plan to transform its Bundoora campus into a University City of the Future.
JCB Architects have designed the sustainable and environmentally-conscious spaces, with construction by Multiplex.
Providing an additional 624 beds, the accommodation will be delivered in two new buildings that will utilise mass timber construction to be the largest project of its kind in Victoria.
The accommodation will comprise a range of apartments and common amenities spaces, as well as landscaping connecting the two buildings.
<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/2019/4/26/18-040_La%20Trobe_6%20-%20Photo.jpg" alt="">
La Trobe’s Vice-Chancellor Professor John Dewar said the project will greatly enhance the experience of students living on campus.
“Our exceptional new accommodation will enable more of our students to live on campus, close to where they are studying,” Dewar said.
Graham Burrows, Director at JCB Architects, said the company was thrilled to be part of such an exciting and creative project.
“The design of the new buildings is very much inspired by the extraordinary landscape in which they sit,” Burrows said.
“As the largest mass timber project in Victoria, the buildings will not only offer huge environmental benefits, but they will also provide calm and beautiful spaces in and around which both resident students and the wider La Trobe community can interact.”
Multiplex Regional Director Ross Snowball said this is an innovative and ambitious project which Multiplex is also pleased to be part of.
“We are particularly passionate about emerging design technologies which respond to environmental and sustainability needs, and we love working with universities – so this project perfectly marries the two and I’m really looking forward to seeing the outcome next year,” Snowball said.
Dewar said the accommodation development project would be a major boost to the local economy, with construction supporting more than 500 direct and indirect jobs.
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j.ballantyne1990-6AQqhLzZaK

La Trobe University starts $100 million student accommodation project at Bundoora campus

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Construction is about to commence shortly on a new health and wellness centre at 101 Collins Street.
The commercial tower, which is managed by AXA Investment Managers – Real Assets, will be home to  two studios with sprung floors and heated ceiling panels, equipped for a range of activities including yoga, pilates, barre, meditation, HIIT and a range of cardio-based classes.
The studios will be located alongside three specialist consultation rooms offering services such as physiotherapy, osteo therapy, chiropractic’s and remedial massage. 
The wellness centre, designed by Australian architects Gray Puksand, will be for the exclusive use of 101 Collins Street tenants.
Construction of the facility is slated to commence in April, with completion expected in October 2019. 
The wellness centre is the second phase of a comprehensive strategic asset plan, said Brett Dillon, Head of Funds Management at AXA IM-Real Assets.
“For almost three decades, 101 Collins Street has held the position as Melbourne’s pre-eminent office address, but we can’t afford to be complacent,” said Dillon.
“Our team is focused on responding to evolving tenant needs, new trends in technology and innovation, so our projects will continue to set new benchmarks in the premium space market.
“Wellness offerings are an essential element of today’s modern workplace, so we are excited to announce that construction will shortly commence on this industry-leading amenity at 101 Collins Street.”
Tenants at the 57-storey 101 Collins include Herbert Smith Freehills, Allens Linklaters, Goldman Sachs, and J.P Morgan.
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New wellness centre for 101 Collins Street tenants starts construction 

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The South Sydney coach Wayne Bennett and his fiance Dale Cage have sold their Brisbane near riverside home.
It sold within 18 days of its listing through Ray White for $2.12 million to a local family who were downsizing.
The property at<a href="https://protect-au.mimecast.com/s/LbJNCyojoDhyQ0lQTMsiKB?domain=raywhite.com" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/LbJNCyojoDhyQ0lQTMsiKB?domain%3Draywhite.com&amp;source=gmail&amp;ust=1556327906575000&amp;usg=AFQjCNEISMJeEqDAjieWhQPBHJHjxrbGdw"> Yeronga</a> attracted some interest from Sydney buyers.
They paid $1,975,000 in late 2016 when Bennett just wrapped up his second season in his second stint at the Brisbane Broncos.
Set on the high side of the dress circle Brisbane Corso, the home spans three levels.
It has four bedrooms, a home office, media room and a heated pool. 
The home built by local builders Grayhaus shortly before Bennett and Cage bought it.
The couple could now move to buy in Sydney as they have been renting in Sydney's coastal eastern suburbs.
He's never been that into Sydney property, preferring to keep his expansive portfolio up north.
Bennett still hangs on to a $1.96 million Brisbane city apartment and investments in Moffat Beach and Gladfield.
Bennett's Brisbane home sits just one street back from the Brisbane River.
Bennett met Cage during his two year stint as head coach at Newcastle Knights when Cage was working as a secretary at a performance physiotherapy clinic.
He coached the Broncos for 21 consecutive seasons from their first season in 1988, during which he resided much of the time at a home at Mount Ommaney.
His NSW coaching stints have been in the Illawarra and Newcastle districts, neither of which appeared to have ignited any passion for property.
Cage said the couple looked all over Brisbane when we were looking to buy "from Ascot and Hamilton and we both fell in love with this house together".
“It’s a warm, inviting and modern home and it’s made for entertaining,” Cage said.
“It’s a wonderful street we live in, there’s good company all around. It’s a great house too that is very low maintenance.
“As soon as we walked in we knew it was right for us, and it would suit a big family as it’s got a heated pool and four big bedrooms, two of which are ensuited.”
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Wayne Bennett sells Brisbane home for $2.12 million 

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Australia’s banking sector is in recover mode after being hit by the perfect storm of influences, according to a new industry survey from Stamford Capital. 
Due to the effects of APRA restraints, the Royal Commission and resulting Hayne Report, pre-sale criteria continues to constrict residential development, according to Stamford Capital’s Real Estate Debt Capital Markets Survey 2019.
The survey found lenders are looking to size up loan books and scramble to develop new products for the changing market and many anticipate an interest rate decrease.
More than 100 active lenders participated in the national survey from major trading banks and non-bank lenders to super funds, foreign banks, private financiers and second-tier trading banks. 
Stamford said the survey aims to be a barometer of lending sentiment and an early identifier of market trends.
Overwhelmingly, the sentiment is that the residential apartment and housing market is in decline, according to the survey.
85% of respondents believe the residential markets are in decline, up from just 50% in 2018.
<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/2019/4/11/MICHAEL_MG_0430.jpg" alt="">
“The pre-sales hurdle is now a barricade in the market and this is where we are witnessing one of the biggest divides between bank and non- bank lenders. It is no surprise that non-bank lenders are continuing to gain momentum in this market,” said Stamford Capital Executive Director Michael Hynes (pictured above).
The Stamford Capital Survey reveals that while 84% of major and second-tier banks require pre-sales of between 60 to 100%, 34% of non-bank lenders have no pre-sale commitment requirement.
Survey respondents also forecast an interest rate decline in 2019 which could prop up the residential sector - with 29% believing rates would drop, up significantly from just 3% in 2018.
Interest Cover Ratio (ICR) has replaced Loan Value Ratio (LVR) as the preferred metric for bank credit assessments and 60% of term-debt lenders see an ICR of 1.5 times for investment lending with banks seeking at least two times ICR.
“Lenders are definitely looking to find their feet in this rapidly changing landscape and typically the non-bank lenders are nimbler at this as they are not governed by APRA,” said Hynes.
A third of respondents revealed concerns are limited to specific locations and market sectors with the top three identified for risk:
<ol>
<li>Inner-city residential apartment oversupply in inner-urban areas of Sydney, Melbourne and Brisbane;</li>
<li>Pre-sales settlement defaults in new residential projects; and</li>
<li>Under-performing retail assets</li>
</ol>
Despite weakening market sentiment and rigid lending criteria for banks, the survey revealed that 73% of respondents are looking to increase the size of their loan book, down from 92% last year.
A whopping 90% of non-bank lenders expect to increase or maintain their loan book size with 62% indicating they expect increasing by 15%.
“Non-bank lenders are growing in terms of volume and appetite in this market, while the banks have pared back - adding further fuel to the fire in an already dynamic commercial finance sector this year,” said Executive Director of Stamford Capital, Domenic Lo Surdo.
However, the non-bank sector may soon face greater restrictions on lending criteria reducing their competitive edge – with 65% of Stamford Capital Survey respondents saying they expect APRA to increase oversight.
But while lenders remain cautious about market risks, Stamford Capital’s survey revealed many are developing innovative ways to cater to investor demand with 41% of respondents looking to introduce new products in 2019-2020.
Build-to-rent is a firm favourite new product with more than half of respondents looking to introduce loan facilities catering to this market, with 36% focusing on investment loan products and 34% on stretched senior debt investment products.
Crowdfunding is unlikely to make an impact in Australia with only 9% of respondents viewing it as a credible commercial lending option.
The outlook is not entirely bleak with increasing flexibility for investors who conform to criteria.
“All lenders are competing for quality investment applications to replace their construction loan books so investors are tipped to come out on top and those who tick the boxes will get competitive finance deals,” said Lo Surdo.
Non-banks however will have an increased appetite for investment and construction lending, transacting construction deals that don’t meet the banks criteria.
75% of survey respondents anticipate non-bank investment loan appetite will increase with 36% predicting investment margins will also increase.
Further, 67% of respondents anticipate non-bank appetite for construction loans will increase with 48% forecasting an increase in construction margins.
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Pre-sale criteria continues to constrict development: Stamford Capital

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Lago, a newly renovated, architect designed home surrounded by a national park and beaches on the South Coast of NSW is on the market with a price guide of $850,000.
Sharon Deadman and Allan Deaman of Ray White Bendalong/Manyana have the listing.
Built in the 1960s, the holiday home at <a href="https://www.realestate.com.au/property-house-nsw-bendalong-130759954" target="_blank">9 Pine Street, Bendalong</a> has recently been renovated throughout.
It last traded at $430,000 in 2014.
Architecturally designed, the open plan living area comes with a new bespoke kitchen with stainless steel fridge, dining area, and living room opening out onto the timber deck/balcony.
<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/2019/4/26/bendalong%202.jpg" alt="">
There are two light filled bedrooms looking out to the bushland. 
Downstairs comprises a new laundry, separate toilet, outdoor shower, and a large deck with a storage area. 
<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/2019/4/26/bendalong%203.jpg" alt="">
Nestled on a 658 square metre block, Lago features views to the native forest at the rear and sea views from the outdoor balcony at the front. 
Positioned just north of Bendalong village with the Bendalong General Store and Cafe, Lago is a 20 minute drive to the township of Milton, three-hour drive to Sydney and two-and-a-half-hour drive from Canberra.
It had last sold at $430,000 in 2014. 
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Renovated 1960s Bendalong holiday home surrounded by national park listed

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Jason Georges, has become the latest sales agent to join the LJ Hooker Avnu team as it continues to make its mark in the blue chip Lower North Shore. 
LJ Hooker Avnu now claims to have the largest market share in arguably Australia’s most valuable suburb, Mosman.  
Georges was previously with Ray White Willoughby, where he was recognised as one of their top 10 agents in the Sydney region.
Despite slowing market conditions in Sydney, since joining LJ Hooker Avnu Georges has already signed seven listings totalling over $13 million. 
“We’re thrilled to welcome Jason to the team at LJ Hooker Avnu," Christine Mikhael, LJ Hooker Avnu chief performance officer said,” said Mikhael.
“His intimate knowledge of the Willoughby and surrounds second to none and his track record is impressive.”
LJ Hooker Avnu hopes to supercharge its sales agents’ abilities to serve their clients, by creating a technology enhanced full-service agency.
By streamlining much of the administration demands of their day-to-day activities and utilising platforms and tools which create much greater efficiencies, sales agents are freed-up to spend more time on client facing activities.  
“I grew up in the Lower North Shore, so I feel very connected to the area,” Georges said.  
“The area has evolved in that time, and so has real estate. How real estate was transacted 10 years ago, even two years ago, has changed.  
“My clients now want to know what’s happening in their sales journey in real time.”
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LJ Hooker Avnu expand with Jason Georges joining in Willoughby

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Move aside electric cars, another disruption set to occur in the next decade is being ignored in current <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-04-18/coalition-says-it-is-not-anti-electric-cars/11029222" target="_blank">Australian transport infrastructure debates</a>: electric aviation.
Electric aircraft technology is rapidly developing <a href="https://www.magnix.aero/about-us/">locally</a> and overseas, with the aim of potentially <a href="https://www.nbcnews.com/mach/science/electric-planes-promise-big-benefits-air-passengers-planet-ncna862001" target="_blank">reducing emissions and operating costs by over 75%</a>. Other countries are already <a href="http://www.bbc.com/future/story/20180814-norways-plan-for-a-fleet-of-electric-planes" target="_blank">planning for 100% electric short-haul plane fleets</a> within a couple of decades.
Australia relies heavily on air transport. The country has the <a href="https://www.pc.gov.au/inquiries/current/airports-2019/draft/airports-draft-overview.pdf" target="_blank">most domestic airline seats per person</a> in the world. We have also witnessed flight <a href="https://www.pc.gov.au/inquiries/current/airports-2019/issues/airports-issues.pdf" target="_blank">passenger numbers double</a> over the past 20 years.
Infrastructure projects are typically planned 20 or more years ahead. This makes it more important than ever that we start to adopt a disruptive lens in planning. It’s time to start accounting for electric aviation if we are to capitalise on its potential economic and environmental benefits.
What can these aircraft do?
There are <a href="https://mashable.com/feature/electric-airplanes-future-flight/#ZR4G.vl9cZq3" target="_blank">two main types</a> of electric aircraft: <a href="https://www.harbourair.com/harbour-air-and-magnix-partner-to-build-worlds-first-all-electric-airline/" target="_blank">short-haul planes</a> and vertical take-off and landing (<a href="https://lilium.com/" target="_blank">VTOL</a>) vehicles, including <a href="https://www.engineersaustralia.org.au/News/passenger-carrying-drones-now-reality" target="_blank">drones</a>.
The key issue affecting the uptake of electric aircraft is the need to ensure enough <a href="https://www.technologyreview.com/s/612351/top-battery-scientists-have-a-plan-to-electrify-flight-and-slash-airline-emissions/" target="_blank">battery energy density</a> to support commercial flights. While some <a href="https://theconversation.com/why-arent-there-electric-airplanes-yet-103955" target="_blank">major impediments</a> are still to be overcome, we are likely to see short-haul electric flights locally before 2030. <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-01-04/first-electric-plane-passenger-flights-in-australia-to-rottnest/9304424" target="_blank">Small, two-to-four-seat, electric planes</a> are already <a href="https://particle.scitech.org.au/tech/aussie-first-electric-plane-takes-to-wa-skies/" target="_blank">flying in Australia today</a>.
<iframe src="https://www.youtube.com/embed/_UhOYtq1_Ag?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
An electric plane service has been launched in Perth.
A scan of global electric aircraft development suggests rapid advancements are likely over the coming decade. By 2022, <a href="https://www.greentechmedia.com/articles/read/siemens-to-supply-motors-for-eviations-all-electric-airplanes" target="_blank">nine-seat planes</a> could be doing short-haul <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-10-27/electric-passenger-planes-four-years-away-says-tech-firm/10401950" target="_blank">(500-1,000km)</a> flights. <a href="https://www.flightglobal.com/news/articles/easyjet-outlines-progress-on-electric-jet-453088/" target="_blank">Before 2030</a>, small-to-medium <a href="https://electrek.co/2018/10/29/electric-flying-is-becoming-a-reality-says-easyjet-ceo-electric-plane/" target="_blank">150-seat planes</a> could be flying up to 500 kilometres. Short-range (<a href="https://www.dezeen.com/2019/01/28/boeing-autonomous-passenger-drone-flying-car/">100</a>-<a href="https://www.forbes.com/sites/michaelgoldstein/2019/01/14/bell-nexus-vtol-air-taxi-makes-a-splash-at-2019-consumer-electronics-show/#2c8801fb2e31" target="_blank">250 km</a>) VTOL aircraft could also become viable in the 2020s.
If these breakthroughs occur, we could see <a href="https://www.businesswire.com/news/home/20170405005365/en/Zunum-Aero-Developing-Hybrid-Electric-Aircraft-Fast-Affordable" target="_blank">small, commercial, electric aircraft</a> operating on some of Australia’s busiest air routes, including Sydney-Melbourne or Brisbane, as well as opening up new, cost-effective travel routes to and from regional Australia.
<a href="https://images.theconversation.com/files/267813/original/file-20190405-180014-57189i.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/267813/original/file-20190405-180014-57189i.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Possible short-haul electric aircraft ranges of 500km and 1,000km around Melbourne, Sydney and Brisbane. Author provided
Why go electric?
In addition to new export opportunities, as shown by <a href="https://thedriven.io/2019/04/22/australias-magnix-chosen-to-power-eviation-electric-aircraft/%E2%80%8B">MagniX</a>, electric aviation could greatly reduce the financial and environmental costs of air transport in Australia.
Two major <a href="/news">components of current airline costs</a> are fuel (27%) and maintenance (11%). Electric aircraft could deliver <a href="https://www.flightglobal.com/news/articles/eviation-secures-funding-for-all-electric-alice-454830/" target="_blank">significant price reductions</a> through reduced energy and maintenance costs.
Short-haul electric aircraft are particularly compelling given the inherent energy efficiency, simplicity and longevity of the battery-powered motor and drivetrain. No alternative fuel sources can deliver the same level of savings.
With conventional planes, a high-passenger, high-frequency model comes with a limiting <a href="https://www.sciencedirect.com/science/article/pii/S1361920912000703" target="_blank">environmental cost</a> of burning fuel. Smaller electric aircraft can avoid the fuel costs and emissions resulting from high-frequency service models. This can lead to increased competition between airlines and between airports, further lowering costs.
What are the implications of this disruption?
Air transport is generally organised in combinations of <a href="https://aeronauticsonline.com/the-airline-economics-of-the-bicycle-wheel-point-to-point-vs-hub-and-spoke-flying/" target="_blank">hub-and-spoke or point-to-point models</a>. Smaller, more energy-efficient planes <a href="https://blueswandaily.com/the-route-revolution-how-next-generation-aircraft-are-transforming-global-route-maps/" target="_blank">encourage point-to-point flights</a>, which can also be the spokes on long-haul hub models. This means electric aircraft could lead to higher-frequency services, enabling more competitive point-to-point flights, and <a href="https://research-repository.griffith.edu.au/bitstream/handle/10072/56018/89299_1.pdf;sequence=1" target="_blank">increase the dispersion of air services</a> to smaller airports.
While benefiting smaller airports, electric aircraft could also improve the efficiency of some larger constrained airports.
For example, Australia’s largest airport, Sydney Airport, is <a href="https://www.pc.gov.au/inquiries/current/airports-2019/draft/airports-draft-overview.pdf" target="_blank">efficient in both operations and costs</a>. However, due to noise and pollution, physical and regulatory constraints – mainly aircraft movement caps and a curfew – can lead to congestion. With a significant number of sub-1,000km flights originating from Sydney, low-noise, zero-emission, electric aircraft could overcome some of these constraints, increasing airport efficiency and lowering costs.
The increased availability of short-haul, affordable air travel could actively compete with other transport services, including <a href="https://www.sciencedirect.com/science/article/pii/S0967070X11000837" target="_blank">high-speed rail</a> (HSR). Alternatively, if the planning of HSR projects takes account of electric aviation, these services could improve connectivity at regional rail hubs. This could strengthen the business cases for HSR projects by reducing the number of stops and travel times, and increasing overall network coverage.
What about air freight?
Electric aircraft could also help air freight. International air freight volumes have <a href="https://www.pc.gov.au/inquiries/current/airports-2019/draft/airports-draft-overview.pdf" target="_blank">increased by 80% in the last 20 years</a>. Electric aircraft provide an opportunity to efficiently transport high-value products to key regional transport hubs, as well as <a href="https://www.businessinsider.com/amazon-and-ups-are-betting-big-on-drone-delivery-2018-3/?r=AU&amp;IR=T" target="_blank">directly to consumers via VTOL vehicles or drones</a>.
If properly planned, electric aviation could complement existing freight services, including <a href="https://www.dezeen.com/2017/02/23/ups-drone-launching-delivery-truck-design-technology-news/" target="_blank">road</a>, <a href="https://www.cnbc.com/2018/05/26/volans-i-drones-can-haul-cargo-for-500-miles-and-land-on-a-moving-ship" target="_blank">sea</a> and air services. This would reduce the overall cost of transporting high-value goods.
Plan now for the coming disruption
Electric aircraft could significantly disrupt short-haul air transport within the next decade. How quickly will this technology affect conventional infrastructure? It is difficult to say given the many unknown factors. The uncertainties include step-change technologies, such as <a href="https://www.maketecheasier.com/solid-state-batteries/" target="_blank">solid-state batteries</a>, that could radically accelerate the uptake and capabilities of electric aircraft.
What we do know today is that Australia is already struggling with disruptive technological changes in energy, telecommunications and even other transport segments. These challenges highlight the need to start taking account of disruptive technology when planning infrastructure. Where we see <a href="https://about.bnef.com/blog/energy-storage-620-billion-investment-opportunity-2040/" target="_blank">billions of dollars being invested</a> in technological transformation, we need to assume disruption is coming.
With electric aircraft we have some time to prepare, so let’s not fall behind the eight ball again – as has <a href="https://www.news.com.au/technology/innovation/motoring/huge-problem-with-car-prices-too-few-affordable-electric-vehicles-in-australia/news-story/64a87eb32a4a8d8c2fdc9664420058eb" target="_blank">happened with electric cars</a> – and start to plan ahead.
<a href="https://theconversation.com/profiles/jake-whitehead-3312" target="_blank">Jake Whitehead</a>, Research Fellow, <a href="http://theconversation.com/institutions/the-university-of-queensland-805" target="_blank">The University of Queensland</a> and <a href="https://theconversation.com/profiles/michael-kane-442924" target="_blank">Michael Kane</a>, Research Associate, Curtin University Sustainability Policy Institute, <a href="http://theconversation.com/institutions/curtin-university-873" target="_blank">Curtin University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/get-set-for-take-off-in-electric-aircraft-the-next-transport-disruption-114178" target="_blank">original article</a>.
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Get set for take-off in electric aircraft, the next transport disruption

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A Melbourne based investor has paid $6.5 million on a 6.3% yield for a Campbellfield industrial facility with Hume Highway frontage.
Dawkins Occhiuto directors, Chris Jones and Walter Occhiuto brokered the deal.  
Located a short distance from the Metropolitan Ring Road, the 1608 Hume Highway property comprises a total building area of 4,949 square metres covering only 25% of the 16,550 square metre site.
It is leased to multinational tenant, Komatsu, on a seven year term expiring August 2020, at a current passing net rental of circa $411,000 per annum. 
Mr Jones said the Expressions of Interest campaign drew a strong field of local, interstate and off-shore buyers based on the property’s exceptional investment credentials.  
He said, “this property offered an excellent location and exposure right on the highway, a secure lease to a blue chip tenant, buildings and hardstand in very good condition and of high utility, high underlying land value, and significant future development upside with a low site coverage. It was hard to beat." 
“We are seeing strong yield compression, particularly for the best located, modern, industrial facilities with secure lease covenants, and that is likely to continue while industrial yields remain comparatively attractive vis-à-vis retail and office property, and while alternative assets classes are offering lower and/or more volatile return prospects,’’ Mr Jones added. 
The vendor was an interstate syndicator.
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Campbellfield Industrial facility fronting the Hume Highway sold for $6.5 million

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Seven individual Metro Petroleum service stations spread across NSW, VIC and QLD are headed to auction, at the same Sydney in-rooms event.   Sites at Broken Hill and Cootamundra in NSW, Bonnie Doon, Rutherglen, Cann River, Great Western in VIC and Texas in QLD are all going to be under the hammer on May 16.   The sites are marketed by Ray White Commercial NSW Director Michael Ajaka, Commercial VIC Director Paul Waterhouse and Commercial QLD Director John Dwyer.   Mr Ajaka said the portfolio of service stations, currently head-leased to Dib Group (trading as Metro Petroleum and a Shell service station at Cann River), offered investors exceptional opportunities to purchase premium investment properties.   “'Metro Petroleum' is a major petroleum brand with approximately 250 service stations and convenience stores across Australia’s east coast, including Western Australia and South Australia,” he said.
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“Servicing a large base of wholesale customers nationwide, it makes the company one of Australia’s largest independent service station franchises.   “Service stations really are a solid investment and banks are still financing investors to buy them, which makes them particularly appealing in the current market.   “The operators have good sustainable businesses such as the fuel sales, convenience stores, and with some having cafes they also run on-site.   “These opportunities will appeal to a number of people, from mum and dad investors as part of their superfund portfolios, to high net-worth individuals with interest expected to come from locals, nationals and offshore investors   “Leases on the sites run until 2028, 2029, 2030 with options, with an annual rent increase of CPI as per lease, and tenants paying outgoings as per lease (excluding land tax and building insurance).'"
Service station location and details:   NSW – Ray White Commercial NSW Director Michael Ajaka   <a id="LPlnk195651" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGRRfjY0I8EBuIExwxzbeVsbuhKX/r1pFevSn3VIfLmZU=&amp;rh=ff004a5e3f2a188bb6f86effce4a835efc129c4d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">·         571 Beryl Street, Broken Hill, NSW 2880</a> Lease term with options 10 years + five years + five year + five years Commencement date 1 December 2018   <a id="LPlnk412210" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGJKCadd8OMjqFleKKoVl5m7x81vYjdkXNBSL8tPGFBNo=&amp;rh=ff004a5e3f2a188bb6f86effce4a835efc129c4d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">·         111 Sutton Street, Cootamundra, NSW 2590</a> Lease term with options 10 years + five years + five years Commencement date 1 August 2017   VIC – Ray White Commercial Vic Director Paul Waterhouse   <a id="LPlnk579059" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZG9u9uZGomxbBu/2zFzDXsPeRSu23KUkTqOjJu7F/J4b0=&amp;rh=ff004a5e3f2a188bb6f86effce4a835efc129c4d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">·         1 Jones Street, Boonie Doon, VIC 3720</a> Lease term with options 10 years + five years + five years + five years Commencement date 1 July 2017   <a id="LPlnk3678" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGKfkRMUK57/KKEeAipBpXadv0lKwGi61PfPh6+f37vxw=&amp;rh=ff004a5e3f2a188bb6f86effce4a835efc129c4d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">·         155-163 Main Street, Rutherglen, VIC 3685</a> Lease term with options 15 years + five years + five years + five years Commencement date 1 December 2015   <a id="LPlnk816553" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGqdp6twqTXLIFaqGm1FdnTPChqLN9nmAFjtuyCnva7Tg=&amp;rh=ff004a5e3f2a188bb6f86effce4a835efc129c4d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">·         28 Princes Highway, Cann River, VIC 3890</a> Lease term with options 12 years + five years + five years + five years Commencement date 1 August 2017   <a id="LPlnk758652" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGfBzxsG4gjnMLhKlnt7GjZksdw4ouA5SBw3X3puuh0j4=&amp;rh=ff004a5e3f2a188bb6f86effce4a835efc129c4d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">·         116 Main Street, Great Western, VIC 3374</a> Lease term with options 11 years + five years + five years + five years + five years Commencement date 1 April 2018   QLD – Ray White Commercial QLD Director John Dwyer   <a id="LPlnk361010" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGC0xdXocb+cXytLqjXtn/jPUq9RmQXcp2&amp;rh=ff004a5e3f2a188bb6f86effce4a835efc129c4d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">·         37 Greenup Street, Texas, QLD 4385</a> Lease term with options 15 years + five years + five years + five years + five years Commencement date 1 December 2015 
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Seven Metro Petrol service stations set for auction

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The final three retail assets in Central Park Retail, in Sydney CBD's downtown precinct are being offered for sale in one line.
Central Park Retail is Frasers Property Australia and Sekisui House’s award-winning $2 billion mixed-use Central Park development. 
With the flagship 12-year project now nearing completion, the joint venture is divesting the remaining three retail assets – Central Park Mall, DUO Retail and Park Lane Retail – in one line.This transaction is the final component of the partnership’s divestment strategy.
Internationally recognised for the vertical gardens and heliostat, it was transformed from a former brewery site into a mixed-use precinct with retail, commercial, hotel, education, student accommodation and residential uses.
“Central Park has redefined urban living in Sydney and Central Park Mall is the natural heart of this community. The precinct has won multiple awards in design and liveability and we are searching for the right buyer to keep the retail offer evolving,” says Mick Caddey, Development Director, Frasers Property Australia.
“These retail assets serve a large and growing catchment from a highly prominent and easily accessible location; surrounded by universities and education precincts with over 115,000 students within walking distance of the centre."
“Neighbouring Central Station is less than a 500 metre walk and is Australia’s largest and most frequented railway station. Central Station is currently undergoing a $955 million upgrade, with an estimated 270,000 commuters passing through the station daily,” says Mr Caddey.
Colliers International’s Head of Retail Investment Services, Lachlan MacGillivray, has been appointed to sell the CBD retail assets via an International Expressions of Interest campaign commencing in early May.
The Central Park Retail offer comprises Central Park Mall, DUO Retail (eight retail outlets) and Park Lane Retail (six retail outlets) in one line.
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Central Park Mall opened in late 2013. 
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Its comprised of 14,600 sqm of gross lettable area set across five levels.
“The Central Park precinct continues to go from strength to strength and customers are voting with their feet and wallets with customer traffic and sales having grown 33 percent and 56 percent respectively since 2014,” says Mr MacGillivray.
This transaction represents the first significant opportunity since 2013 to acquire a 100 percent interest, with management, in a high calibre retail centre in Sydney’s CBD.
Recent sales of Sydney CBD retail assets highlight strong investor demand for a tightly held asset class, with a 25 percent interest in MidCity Centre transacting at a yield of approximately 4.0 percent and Pitt Street’s Soul Pattinson Building sold for $95 million at 4.0 percent. 
Central Park Retail is expected to transact in excess of $170 million.
Mr MacGillivray anticipates Central Park Retail will receive keen interest from domestic and international, private and institutional purchasers, given its quality and profile.
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Final three Central Park Retail assets hit the market

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

Joel Robinson

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

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

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

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

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

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

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

Sherpa sells out Flourish Oasis in booming Palm Beach

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

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