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Total sales activity across the Gold Coast strata office market remained robust throughout 2018, according to Ray White’s research for Gold Coast Small Suites.
The data showed after a strong 2017 result, low interest rates continued to be a driving force for private investors in this market, despite some uncertainty surrounding financing availability.
Ray White’s Head of Research Vanessa Rader said following an end-of-year rush, 2018 saw $42.79 million change hands.
“While this is down 13.84% compared to the busy 2017 period, it remains the second highest sales over the past 10 years,” Rader said.
“Confidence continues to be high across the Gold Coast post-Commonwealth Games, with much energy and optimism around business growth, which has resulted in some improvements in employment.
“We’ve seen both local investors and owner occupiers seek investment into the office market to shelter from volatile occupation costs and in anticipation for business expansion, as well as securing a competitive yielding asset.
“Volumes have been highest in Southport and Robina/Varsity Lakes, with these being the two largest office submarkets across the Gold Coast, offering modern facilities.
“Collectively, these two markets represented 68.67% of the 2018 total sales stock, with an average sale price of $840,000. 
“While the Surfers Paradise and Bundall regions both offer more affordable office product, with average sale prices of $536,500 and $284,500 respectively.”
Rader said sentiment continued to be positive for the Gold Coast office market.
“Capital values continued to show upward momentum, with this resulting in the average Gold Coast value increasing for the sixth consecutive year,” she said.
“Currently averaging $3,770 per square metre, this is up 2.31% on last year's result, and has recorded 6.97% annual change over the past five years.
“Bundall remains the most affordable region across the Gold Coast and has shown several years of consistent growth. At just $3,013 per square metre, this market is up 9.96% on the last year, and has shown 4.40% annual improvement over the last five years.
“The largest growth in values has come from Southport, albeit due to the downward correction in values achieved during 2017.
“Currently averaging $3,680 per square metre, this is up 19.26% over the last 12 months, representing a 5.29% increase compared to 2016 results.
“Surfers Paradise/Broadbeach has witnessed a high level of turnover in 2018 representing a small reduction of 3.42%, this average of $3,446 per square metre is the second year of decline after a high level of increase in this market during 2015.
“Another market which has felt a reduction in values has been Robina/Varsity Lakes, currently averaging $3,914 per square metre. This is down 9.50% over the last year, an increase in vacancies in this market being of concern for some buyers.”
Ray White Commercial Gold Coast Office Leasing Specialist Renee Hughes said after some slowdown in leasing activity post financial year, the run to the end of the year saw some increase in activity, continuing the improvement in rental rates of 2018.
“Levels of enquiry have started 2019 similarly to the close of 2018, with demand elevated across all size and quality grades,” Hughes said.
“In terms of location, enquiry has been high across all precincts, however Bundall has been the stand-out performer with occupiers looking towards the more affordable product in a central location.
“Professional Services continue to be the industry most active, resulting in incentives reducing to around eight%, putting further downward pressure on effective rents.
“After a prolonged period of steady rental rate results, 2018’s increased demand translated into small face rental growth, continuing through to the end of the year.  
“Prime smaller stock currently ranges between $320 to $380 per square metre gross, averaging $365 per square metre (2.24% annual growth).
“While Secondary, in the more affordable $230 to $300 per square metre price range, has held consistent at $260 per square metre over the last two years.
“A-grade assets that offer large floor plates in quality locations continue to dictate rents in excess of these rates, upwards of $500 per square metre on a gross basis, with an incentive greater than 10%.”
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j.ballantyne1990-6AQqhLzZaK

Gold Coast strata office market has robust 2018

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A private ballet school has agreed to terms on the lease of a warehouse space just off the Chapel Street retail precinct in South Yarra.
Teska Carson’s Fergus Evans, who brokered the 1 Hazeldon Place deal, said the school had taken an initial 12 month lease at $48,000 per annum plus GST.
He said the open plan, 220 square metre, premises was ideally suited to dance school use.
The property is located only a short walk from Chapel Street shops and trams and within close proximity of Hawksburn Railway Station.
The lessor is a Melbourne based private investor.
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Ballet school begins lease in South Yarra

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ASIC has accepted a court enforceable undertaking (EU) from Gold Coast-based accountant, Jenan Thorne of Saber Superannuation Pty Ltd after it found she had failed to act in the best interests of her clients and had prioritised her own interests above their interests.
The undertaking prevents Mrs Thorne (also known as Cenan Thorne or Cenan Dikmen) from providing financial services for a period of three years effective from 13 February 2019.
ASIC decided to review Mrs Thorne's advice when it discovered, during its investigation into Park Trent Properties Group Pty Ltd, that she was receiving referrals in relation to establishing self-managed superannuation funds (SMSFs) from Park Trent.
ASIC reviewed advice provided by Mrs Thorne when she was a representative of SMSF Advice Pty Ltd, a wholly owned subsidiary of AMP Limited, and concluded that she had advised some of her clients to establish SMSFs without taking their circumstances into account.
ASIC found that Mrs Thorne hadn't properly considered her clients' existing superannuation arrangements or explored why they were interested in investing in direct residential property through an SMSF.
When recommending SMSFs to some of her clients, she had inappropriately scoped advice by excluding insurance and retirement planning.
ASIC also found that Mrs Thorne did not adequately stress-test SMSF strategies and had recommended SMSFs to some of her clients despite inadequate evidence to suggest that the strategies would provide increased retirement benefits.
Furthermore, Mrs Thorne had recommended that her accountancy practice, Saber Accountants Pty Ltd, prepare the annual accounts and tax returns for the SMSF clients.  This led ASIC to determine that Mrs Thorne recommended the services of a related party to create extra revenue for herself.
As part of the EU, Mrs Thorne has agreed to inform all her former personal advice clients about the EU and provide contact details of her former licensee, SMSF Advice Pty Ltd. Former clients of Mrs Thorne who have enquiries or complaints regarding her advice or conduct should contact SMSF Advice Pty Ltd.
ASIC expects financial advisers to comply with their best interests duty and pay particular attention to how they scope their advice to clients.
Prior to recommending SMSFs, advisers should critically probe why a client wants to set up an SMSF and what they hope to achieve. Advisers should also give adequate consideration to risk management and succession planning before setting up an SMSF for a client.
ASIC Commissioner Danielle Press said financial advisers have a legal obligation to provide advice that is in the best interests of their clients, not prioritise their own interests or simply implement client instructions. 
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ASIC's Park Trent Properties investigation sees Gold Coast accountant step aside for three years

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The Kew East house rebuilt by Darren and Dea Jolly has been sold again.
The Block winners offloaded their recreated California bungalow for $2,908,000 in October 2016.
The family who bought it have now sold it for an undisclosed price after the four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-kew+east-130103070" target="_blank" rel="noopener">14 Irymple Avenue </a>passed in at $2.95 million at its recent twilight auction.
The Herald Sun suggest it sold at the bottom end of the $3 million to $3.3 million quoted range through Harcourts Surrey Hills agent Brett Philipp.
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Not much price growth in Dea and Darren Jolly's former Kew East bungalow resale

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Aussie John Symond has listed a Double Bay retail property.
The <a href="https://www.domain.com.au/18-transvaal-avenue-double-bay-nsw-2028-2014933470">boutique shop and residence </a>has Maree Conley’s homewares outlet Conley &amp; Co.
It was bought by Symond in 2014 for $4.8 million.
The Alexander Tzannes-designed retail property was sold by the former Trent Nathan chief Shane Barr.
There is a $6.5 million to $7 million guide by Brad Caldwell-Eyles of 1st City Double Bay, who sold it last time.
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Aussie John Symond lists Double Bay retail property

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GUEST OBSERVATION
Australia is the <a href="https://www.oecd-ilibrary.org/environment/municipal-waste/indicator/english_89d5679a-en" target="_blank">sixth-largest</a> contributor of household waste per capita in the world. We spend more than <a href="https://www.propertyobserver.com.au/http://www.tai.org.au/node/940" target="_blank">$A10.5 billion</a> annually on goods and services that are never or rarely used.
One-quarter of Australians admit to throwing away clothing <a href="https://au.yougov.com/news/2017/12/06/fast-fashion/" target="_blank">after just one use</a>, while at the other end of the extreme, 5% of the population save unused items with such tenacity that their homes become <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3181962/">dangerously cluttered</a>.
If unnecessary purchases come at such a profound cost, why do we make them?
Why do we buy so much stuff?
We acquire some possessions because of their perceived usefulness. We might buy a computer to complete work tasks, or a pressure cooker to make meal preparation easier.
But consumer goods often have a psychological value that outweighs their functional value. This can drive us to acquire and keep things we could do without.
Possessions can act as an <a href="https://www.propertyobserver.com.au/https://academic.oup.com/jcr/article/15/2/139/1841428" target="_blank">extension of ourselves</a>. They may remind us of our personal history, our connection to other people, and who we are or want to be. Wearing a uniform may convince us we are a different person. Keeping family photos may remind us that we are loved. A home library may reveal our appreciation for knowledge and enjoyment of reading.
Acquiring and holding onto possessions can bring us comfort and emotional security. But these feelings cloud our judgement about how useful the objects are and prompt us to hang onto things we haven’t used in years.
When this behaviour crosses over into hoarding disorder, we may notice:
<ol>
<li>a persistent difficulty discarding possessions, regardless of their actual value 
</li>
<li>that this difficulty arises because we feel we need to save the items and/or avoid the distress associated with discarding them 
</li>
<li>that our home has become so cluttered we cannot use it as intended. We might not be able to sit on our sofa, cook in our kitchen, sleep in our bed, or park our car in the garage 
</li>
<li>the saving behaviour is impacting our quality of life. We might experience significant family strain or be embarrassed to invite others into our home. Our safety might be at risk, or we may have financial problems. These problems can contribute to <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/bjc.12212" target="_blank">workplace difficulties</a>.</li>
</ol>
Will the KonMari method help?
According to Japanese tidying consultant <a href="https://www.booktopia.com.au/the-life-changing-magic-of-tidying-up-marie-kondo/prod9781607747307?zsrc=d-stocked&amp;gclid=Cj0KCQiAm5viBRD4ARIsADGUT25gYCqaxUUKyvskmVS_R-fO4F0c9K59vPwZsaLgO6fgwK57pQEWZpcaAkFVEALw_wcB" target="_blank">Marie Kondo</a>, “everyone who completes the KonMari Method has successfully kept their house in order”.
But while some aspects of the KonMari method are consistent with existing evidence, others may be inadvisable, particularly for those with clinical hoarding problems.
Kondo suggests that before starting her process, people should visualise what they want their home to look like after decluttering. A similar clinical technique is used when <a href="https://www.sciencedirect.com/science/article/abs/pii/S0005796711001872?via%3Dihub" target="_blank">treating</a> hoarding disorder. Images of one’s ideal home can act as a powerful amplifier for positive emotions, thereby increasing motivation to discard and organise.
Next, the KonMari Method involves organising by category rather than by location. Tidying should be done in a specific order. People should tackle clothing, books, paper, komono (kitchen, bathroom, garage, and miscellaneous), and then sentimental items.
Organising begins with placing every item within a category on the floor. This suggestion has an evidence base. <a href="https://www.sciencedirect.com/science/article/pii/S0165032717327167?via%3Dihub">Our research</a> has shown people tend to discard more possessions when surrounded by clutter as opposed to being in a tidy environment.
However, <a href="https://www.sciencedirect.com/science/article/abs/pii/S0005796710001075?via%3Dihub" target="_blank">organising</a> and categorising possessions in any context is challenging for people with hoarding disorder.
Marie Kondo gives sage advice about whether to keep possessions we think we’ll use in the future. A focus on future utility is a common thinking trap, as many saved items are never used. She encourages us to think about the true purpose of possessions: wearing the shirt or reading the book. If we aren’t doing those things, we should give the item to someone who will.
Another Kondo suggestion is to thank our possessions before we discard them. This is to recognise that an item has served its purpose. She believes this process will facilitate letting go.
However, by thanking our items we might inadvertently increase their perceived humanness. <a href="https://akademiai.com/doi/abs/10.1556/2006.7.2018.98" target="_blank">Anthropomorphising</a> inanimate objects increases the sentimental value and perceived utility of items, which increases object attachment.
People who are dissatisfied with their interpersonal relationships are more prone to <a href="https://www.sciencedirect.com/science/article/pii/S0191886918300461" target="_blank">anthropomorphism</a> and have more difficulty <a href="https://www.sciencedirect.com/science/article/pii/S0165178118318122" target="_blank">making decisions</a>. This strategy may be particularly unhelpful for them.
One of Kondo’s key messages is to discard any item that does not “spark joy”.
But for someone with excessive emotional attachment to objects, focusing on one’s emotional reaction may not be helpful. People who hoard things experience intense positive emotions in response to many of their possessions, so this may not help them declutter.
Think about how you get rid of things
<a href="https://www.sustainability.vic.gov.au/About-us/Latest-news/2019/01/10/23/21/Urgent-advisory-for-Netflix-inspired-declutterers" target="_blank">Sustainability Victoria</a> recently urged Netflix-inspired declutterers to reduce, reuse, and recycle rather than just tossing unwanted items into landfill.
Dumping everything into the op-shop or local charity bin is also problematic. Aussie charities are paying <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-10-04/charities-spending-millions-cleaning-up-fast-fashion-graveyard/10328758" target="_blank">A$13 million a year</a> to send unusable donations to landfill.
Ultimately, we need to make more thoughtful decisions about both acquiring and discarding possessions. We need to buy less, buy used, and pass our possessions on to someone else when we have stopped using them for their intended purpose.
Melissa Norberg, Associate Professor in Psychology, Macquarie University 
Jessica Grisham, Professor in Psychology, UNSW
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/my-possessions-spark-joy-will-the-konmari-decluttering-method-work-for-me-110357" target="_blank">original article</a>.
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Will the KonMari decluttering method work for me?

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International Workplace Group’s (IWG) co-working brand Spaces has secured approximately 7,000 square metres of space across two buildings within Lendlease’s Melbourne Quarter precinct.
Spaces will occupy one floor at One Melbourne Quarter and more than 4,000 square metres over two floors at Two Melbourne Quarter.
They will also utilise the business lounge facilities in each building’s lobby as extensions of their workplace.
Spaces’ members will also have access to the precinct’s Wi-Fi enabled Sky Park.
<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/2019/1/22/One%20Melbourne%20Quarter.jpg" alt="">
There will be over 700 flexible workstations available when Spaces moves into One Melbourne Quarter (pictured above) in May this year and Two Melbourne Quarter (pictured below) once it is complete in mid-2020.
The precinct will also be the Victorian home of AMP and EnergyAustralia, which will join Arup and Lendlease.
Spaces’ model allows customers to pay only for the space they need, scaling operations up or down to boost employee productivity in their choice of work environments.
The Lendlease managed Australian Prime Property Fund (APPF) Commercial owns One Melbourne Quarter and has a 50% joint interest in Two Melbourne Quarter with First State Super.
<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/2019/1/22/Two%20Melbourne%20Quarter%20-%20artists%20impression.jpg" alt="">
"There is a workspace revolution underway in Australia and businesses of all sizes are waking up to the strategic and financial benefits that flexible office space can provide," said  Damien Sheehan, Head of IWG, Spaces parent company in Australia &amp; New Zealand.
"This will be the fourth Spaces co-working centre located in Victoria and we are extremely excited to be located in the new Melbourne Quarter Precinct."
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Co-working operator Spaces joins Melbourne Quarter precinct 

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The Agency Group Australia has seen Andrew Jensen appointed to the role of interim chairman, effective immediately.
Jensen succeeds Philip Re who tendered his resignation as chairman and from the board of the listed estate agency.
The Agency has a $23 million market capitalisation, after shares fell 15 percent today. Jensen has previously held the position of chief financial officer at The Agency, with a strong prior commercial, strategic and M&amp;A experience.
Jensen was the CFO of Australasia’s largest real estate group Ray White for eight years.
He has also been the CFO of VGC Food Group Pty Ltd, a private diversified manufacturing and franchising group.
“I am delighted to accept the opportunity to be Chairman of The Agency Group at this stage of its development,” Mr Jensen said.
“Despite the current market downturn, this Company is ideally positioned as innovative disrupter in the national real estate market to continue its rapid growth and cement its position as the fastest growing real estate company nationally.”
The Agency fell to ¢19 in its trading on Monday afternoon.
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The Agency managing director Paul Niardone said Phil Re had played a "key role overseeing what has been a significant transformational period for the company."
“As chairman, Phil has steered the company from its infancy, operating from one office in Doubleview with next to no agents under the Ausnet Real Estate Services banner, to being the fastest growing national real estate company in Australia with 293 agents across multiple offices and unaudited group revenue of approximately $24.5 million.
“He has overseen the Company’s substantial growth in Western Australia via the acquisition of Sell Lease Propertyand other notable real estate agencies including Beaufort Realty and the transition to national real estate agency with the acquisition of Top Level Real Estate.
“The board wish to thank Phil for his significant contribution and commitment to the Company and wish him all the best in his future endeavours.”
</div>
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Andrew Jensen appointed interim chairman of The Agency

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Woolworths will scrap its $1 dollar-a-litre milk in support of a more sustainable Australian dairy industry.
From tomorrow, Woolworths will remove $1 per litre milk from all stores around the country with its own brand milk to sell for $2.20 and $3.30 respectively.
Woolworths has announced plans to permanently increase the price of milk with the extra cost to be passed onto dairy farmers. 
Woolworths Group CEO Brad Banducci said the move would deliver higher prices to more than 450 dairy farmers.
Dairy farmers have rallied against $1 per litre milk ever since the supermarket giants started their price war in 2011, arguing the cheap price was unsustainable.
There was an <a href="https://www.facebook.com/775904401/videos/10156967043899402/" target="_blank">emotive video last week</a> from the daughter of a South Australian dairy farmer who was farewelling the herd as they abandoned the farm.
Casey Treloar, from South Australia, a third generation dairy farmer saw her facebook go viral with emotional farewell video.
The supermarket giant and rivals Coles previously put up the price of their two and three litre milk varieties in September as a temporary drought relief measure. 
Australian Dairy Farmers CEO David Inall welcomed Woolworths’ move, describing it as a ‘game changer’. 
“It is reassuring that Woolworths has committed to deliver the full 10 cent increase back to those farmers who supplied the milk into that product category,” Mr Inall said. 
“Removing $1 milk is not just intended to restore farmers’ financial confidence, but it will also boost confidence in regional communities and small businesses that rely on the industry."
Coles is yet to announce if it will follow Woolworths’ lead.
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Woolworths scraps $1-a-litre milk to support Australian dairy industry

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The Mount Sugarloaf Vineyard in the Grampians has been sold.
It has been bought by one of Victoria's oldest winemakers, Best's Great Western.
The sale of the <a href="https://www.realestate.com.au/property-viticulture-vic-great+western-7967450" target="_blank">409 hectare estate</a> was reportedly for $5.5 million.
Some 114 ha is under vine growing red grapes under the Hyde Park Wines label.
<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/2019/2/18/Gramp1.jpg" alt="">
Hyde Park Wines is owned by David Wells, Michael Ramsden and Michael Tilley, who planted their initial vineyard in 1997, close to the Seppelt vineyards at Great Western.
It is set a two hour drive from Melbourne.
Founded in 1866 in the Great Western wine region of Victoria, Best's Great Western is one of Australia's oldest continually family owned and operated wineries. 
Best's has only had two owners, the Best family who founded the winery, and the Thomson Family with a fifth generation Thomson is now running the winery.
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Best's Great Western buys Mount Sugarloaf Vineyard in the Grampians

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."

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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.

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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."

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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.

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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."

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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.

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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>.

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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.

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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."

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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.

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<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.

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Staff reporter

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