<html><body>
A record price has been paid for penthouse in Parramatta.
The $3 million sale was in the initial offering of Coronation Property’s highly anticipated 8 Phillip Street in Parramatta.
Local Parramatta businessman Bob Reiman (below) had originally planned to buy a standard three bedroom apartment, but upgraded to the $3 million penthouse - one of a handful of apartments on the top two floors of the 55 storey tower.  
<img src="/images/2016/11/21/DSC_0011.JPG" alt="">
 
The apartments for sale started from $459,000 for a studio apartment.
<img src="/images/2016/11/21/700_coronation.jpg" alt="">
The prior disclosed off the plan penthouse offerings elsewhere in Parramatta had been in the $2.2 million to $2.6 million range. 
“I was really impressed with the quality of the finishes of the apartment and the design by international architect Woods Bagot," said Mr Reiman.
Its stage one sold out, after more than 200 expressions of interest were received prior to launch day resulting in more than $110 million sold in the first few hours.  
Further strong sales are anticipated over the next few days.
The luxury 55-storey tower will feature boutique QT Hotel accommodation on its lower levels, together with world-class facilities including a signature QT bar &amp; grill restaurant which will also be open to the public, multiple meeting and event spaces, Spa Q, a ballroom accommodating 200 people seated and an alfresco infinity pool on the 18th storey.
8 Phillip Street will comprise just over 300 residences when completed in 2020, with apartments to include one, two and three bedroom configurations, as well as studio and penthouse options.
<img src="/images/2016/11/21/700_parra.jpg" alt="">
The tower’s pièce de résistance is its spacious ‘Studio 54’ rooftop bar which will be open to residents as well as the public and will easily be able to accommodate 600 patrons, who will be able to enjoy unapparelled views of Sydney’s CBD and surrounds.
Jason Soulos, Sales Director, Coronation Property, said the response to 8 Phillip Street had been exceptionally strong in the lead-up to the sales launch.
“Although we were expecting robust sales at our launch, it wasn’t until we opened our project gallery in recent weeks that we were able to truly gauge just how exciting the project had become to locals – many of whom have since purchased apartments within the development,” Mr Soulos said.
“The addition of high-tech, immersive virtual reality booths within our project gallery to showcase the project to buyers was exceptionally well-received – the technology was able to virtually transport buyers right to the top of the tower to experience its facilities and vistas for themselves.”
Buyers on the day also cited the inclusion of world-class landscape architecture and outdoor design elements by project partner Jamie Durie as another drawcard for 8 Phillip Street, with the gardening guru planning a floating forest and trapeze garden to grace the tower’s façade and foyer.
According to Mr Soulos, the majority of purchasers to date are owner-occupiers, with many currently living or working in Parramatta.
The project gallery and display apartment is open from 11am – 4pm on Thursdays to Sundays or by appointment.  Appointments can be made by calling 1800 753 163 or enquiring via <a href="mailto:sales@coronation.com.au" target="_blank">sales@coronation.com.au</a>.
For more information visit liveat8phillipst.com.au.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Record $3 million penthouse sale in Coronation’s 8 Phillip Street, Parramatta

<html><body>
Stockland has created one of the most sustainable project homes ever built in Australia at its Willowdale residential community at Denham Court in south west Sydney.
It seeks to encourage more environmentally friendly home design and construction.
The two-storey family home has been designed, built and recently certified to the 8 star NatHERS rating, which means the house is designed to achieve close to net zero emissions through its range of energy-saving and ecologically sustainable features.
The Willowdale Community Place is a display home that shows dream homes can save thousands of dollars every year with energy saving inclusions that maximise the warmth of the sun through winter and minimise the impact of the sun’s heat through summer.
It allows customers to choose the energy saving features they would like to include in the construction of their homes.
Andrew Whitson, CEO Residential at Stockland, said the aims was making suburban communities greener.
"Both in a physical sense with more green, open, public spaces, parks, playgrounds, walking trails and cycleways; and showing customers how they can save money over a lifetime through more energy-efficient home design and construction.
“This is not a concept house; all ‘eco’ features, fittings and inclusions are commercially available right now. For example, for a medium-sized home, installing solar panels will cost around $7,000 upfront. On a yearly basis, solar will save that same house between $1,000 and $2000 in energy costs, meaning they will recoup their investment within five to seven years and reaping ongoing cost savings for many years after that.”
NSW Environment Minister Mark Speakman said the NSW Government was committed to making more energy efficient homes the norm.
“Projects like Willowdale set the standard for how communities, industry and government can work together to develop great places to live that are good for the environment,” Mr Speakman said.
Stockland has so far sold more than 1,000 residential lots at Willowdale.
On completion, Willowdale will comprise around 3,300 homes, a neighbourhood shopping centre anchored by a full-line Coles supermarket and specialty stores.
Stockland has also made provision in the masterplan for 25 hectares of parks and playgrounds and the inclusion of a new state primary school.
Key sustainability features of the Willowdale Zero Emissions House:
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="213">
Sustainable energy-saving features (for a 25 square home)
</td>
<td valign="top" width="213">
Approximate cost
</td>
</tr>
<tr>
<td valign="top" width="213">
5kW solar energy system
</td>
<td valign="top" width="213">
$7000
</td>
</tr>
<tr>
<td valign="top" width="213">
Double glazing upgrade
</td>
<td valign="top" width="213">
$6000 extra
</td>
</tr>
<tr>
<td valign="top" width="213">
Draught sealing
</td>
<td valign="top" width="213">
$2000
</td>
</tr>
<tr>
<td valign="top" width="213">
Insulation upgrade
</td>
<td valign="top" width="213">
$2000 to $3000
</td>
</tr>
<tr>
<td valign="top" width="213">
External shading (east and west)
</td>
<td valign="top" width="213">
Cost neutral if offset by not buying expensive heavy internal blinds
</td>
</tr>
<tr>
<td valign="top" width="213">
Heating and cooling system
</td>
<td valign="top" width="213">
Typical standard inclusion, so cost neutral
</td>
</tr>
</tbody></table>
Other sustainability features:
<ul>
<li>Designed for Silver Livable Housing Australia Compliance and designed to a Silver Level Livable Housing Australia (LHA) rating.</li>
<li>Automatic Edmonds Odyssey home ventilation system which provides energy efficient ventilation. Odyssey air exchange system reduces air conditioning usage through intelligent air exchange between inside and out.</li>
<li>Ecomax concrete, which significantly lower embodied energy than standard concrete. Use of recycled materials and by-products.</li>
<li>Rainwater tank with grey water treatment system to meet the demands of flushing toilets, washing machine and garden maintenance Collection, storage and local reuse of rainwater to serve WCs and outside irrigation. Grey water system captures and reuses domestic waste water (hand basins, laundry and showers) for use in irrigation.</li>
<li>Solar gas boost hot water system</li>
<li>Low Volatile Organic Compounds paint which minimizes outgassing</li>
<li>Tapware specified to the highest water efficiency standards rating available: 6 Star WELS rated tapware with 4 litres per minute of water consumption.</li>
<li>Vegetable garden, compost bin and worm farm</li>
<li>Weather seals to external doors and windows to minimize unwanted outside air entering the home</li>
<li>Energy efficient internal LED lighting</li>
<li>Low maintenance and water tolerant plants used in landscaping</li>
<li>R0.5 Waffle pod concrete is poured over insulating pods providing thermal mass to store energy. The insulating pods reduce heat loss to the ground in winter.</li>
<li>Wall wrap and insulation to internal and external walls, roof and floor.</li>
</ul>
Customers can register their interest in acquiring a block of land at <a href="https://www.stockland.com.au/willowdale" target="_blank">www.stockland.com.au/willowdale</a> or by visiting the on-site Willowdale Sales and Information Centre.
</body></html>

8 star energy-efficient home by Stockland at Denham Court

<html><body>
GUEST OBSERVER
The Australian Taxation Office (‘ATO’) released Taxation Determination TD 2016/16 — Income tax: will the ordinary or statutory income of a self-managed superannuation fund be non-arm’s length income under subsection 295-550(1) of the Income Tax Assessment Act 1997 (ITAA 1997) when the parties to a scheme have entered into a limited recourse borrowing arrangement on terms which are not at arm’s length.
TD 2016/16 confirms the ATO’s view that where an SMSF trustee enters into a limited recourse borrowing arrangement (‘LRBA’) on non-arm’s length terms, it is necessary to consider whether the self managed superannuation fund (‘SMSF’) has derived more ordinary or statutory income under the scheme than it might have been expected to derive had the parties been dealing with each other at arm’s length in relation to the scheme.
Non-arm’s length income (NALI) will only arise in those cases where the answer to this question is affirmative.
In answering this question, it is necessary to identify both the steps and the parties in relation to the scheme.
This also requires an analysis of what the arm’s length borrowing terms would have been (‘hypothetical borrowing arrangement’).
It is then necessary to analyse whether it is reasonable to conclude that the SMSF trustee could have and would have entered into the hypothetical borrowing arrangement.
The ATO view is that where it is reasonable to conclude that the SMSF trustee could not or would not have entered into the hypothetical borrowing arrangement, the SMSF will have derived more ordinary or statutory income under the scheme, and this income will be treated as NALI.
Accordingly, where s 295-550(1) applies, the total amount received by an SMSF trustee from the arrangement, after any applicable deductions to the extent they are attributable to that income, is taxed at the highest marginal tax rate plus the temporary budget repair levy (currently 47%), instead of the concessional tax rate that typically applies to SMSFs.
This rate applies even if the SMSF is in pension phase (subject to the proposed $1.6 million balance cap).
TD 2016/16 states at [22] that:
where the SMSF can objectively establish with evidence that it could have and would have entered into the hypothetical borrowing arrangement, a comparison can then be made of the SMSF’s ordinary or statutory income from the scheme (where the parties have not been dealing with each other at arm’s length and have entered into an LRBA on terms which are not at arm’s length) and the income under the hypothetical borrowing arrangement.
The example provided in TD 2016/16 represents an extreme loan arrangement that provides limited practical guidance for the vast majority of related party LRBAs that may be almost but not quite in line with the safe harbour provisions set out in <a href="https://www.dbalawyers.com.au/announcements/ato-releases-safe-harbours-non-bank-smsf-limited-recourse-borrowing-arrangements/">PCG 2016/5</a>. The example in TD 2016/16 includes the following facts:
<ul>
<li>the loan to value ratio (‘LVR’) is 100%;</li>
<li>the interest rate is nil;</li>
<li>the loan term is 25 years, with no repayments required until the cessation of the loan term; and</li>
<li>a mortgage is provided in respect of the property.</li>
</ul>
These facts are clearly not consistent with an arm’s length loan arrangement. The facts from this example are then compared with a hypothetical borrowing arrangement example (which reflects the ATO’s safe harbour guidelines for real estate in PCG 2016/5, ie, 70% LVR, 15-year term, interest at 5.75% p.a. for the 2016 financial year, monthly repayments and security over the property).
Therefore, when determining what is an arm’s length hypothetical borrowing arrangement, the ATO is likely to refer to the safe harbour terms set out in PCG 2016/5 as a starting point (as per the example in TD 2016/16).
Alternatively, an SMSF trustee can obtain and maintain written evidence that demonstrates that the LRBA terms are consistent with an arm’s length dealing in the same factual circumstances.
In TD 2016/16, the ATO states that the rent of $1,000 per week derived from the property is not sufficient to make monthly principal and interest repayments at the rate determined under PCG 2016/5 of $5,800 per month.
The ATO then goes on to conclude that the SMSF trustee could not and would not have entered into the hypothetical borrowing arrangement for a number of reasons, including because once the weekly rental and any future capital gains are taken into account, the property would not be earnings accretive. (‘Accretive’ is commonly defined as growth or increase by gradual addition over time.)
The ATO’s methodology, however, for determining that the property would not generate sufficient future earnings or capital gains is not outlined in TD 2016/16.
The requirement that a property be earnings accretive from the outset of an LRBA requires further consideration and analysis.
The determination of the future capital growth of a particular property would, for instance, involve an analysis of property prices in the area over the proposed ownership period and forward projections of capital appreciation and net income flows.
An SMSF trustee must formulate and implement an investment strategy under s 52B of the Superannuation Industry (Supervision) Act 1993 (Cth) (‘SISA’) that considers the:
<ul>
<li>risk and likely return from the SMSF’s investments having regard to its objectives;</li>
<li>diversification of the SMSF’s investments and the risks of inadequate diversification;</li>
<li>liquidity of the SMSF’s investments and cash flow requirements; and</li>
<li>ability of the SMSF trustee to discharge any existing and prospective liabilities.</li>
</ul>
Furthermore, the earnings and growth from the asset acquired using an LRBA may not necessarily be the main funding source to repay borrowings.
Contributions, rollovers and the admission of further members can also provide the necessary funding.
On the basis that an SMSF trustee has given due consideration to the investment strategy factors outlined above, and has a plan to repay the borrowing on arm’s length terms (as well as meeting any other existing and prospective liabilities), the SMSF trustee is investing in a manner that is consistent with the SISA requirements.
Furthermore, if the LRBA was on arm’s length terms and this could be clearly substantiated, the fact that a property was negatively geared would not, by itself, be sufficient to give rise to NALI.
There is no basis under superannuation or tax law for the position that a borrowing must be repaid from income or gains derived from the asset acquired with that borrowing for the parties to be dealing on arm’s length terms; albeit this may in fact occur in many conservatively leveraged LRBAs.
TD 2016/16 also states that the ATO will consider whether an LRBA is ‘an optimal use’ of the SMSF’s assets. Again, this statement does not reflect the obligations placed on SMSF trustees under superannuation or tax law.
An SMSF trustee is certainly required to invest in a prudent manner and in the best financial interests of members.
Determining, however, what is an ‘optimal use’ of the SMSF’s assets is a subjective exercise that is difficult to quantify or enforce, and that goes beyond the duty to exercise the same degree of care, skill and diligence as an ordinary prudent person would exercise in dealing with the property of another for whom the person felt morally bound to provide for under s 52B of the SISA.
While the legislation provides certain prohibitions or limitations on particular forms of investments, eg, the 5% limit on in-house assets in pt 8 of the SISA, the legislation does not seek to influence a trustee’s choice of investment.
If the ATO views SMSF trustee investment decisions through a prism that requires optimal positively geared investments that generate an accretive return from the date the particular asset is acquired, SMSF trustees will be held to a standard above that required by superannuation and trust law and will find it increasingly difficult to identify asset classes in which to invest, given the risk of a negative return inherent in all but the most conservative of investments.
Fortunately, the ATO’s view expressed in TD 2016/16 regarding optimal positively geared investments, appears to be limited to related party LRBAs at this time.
Parties to an LRBA who are dealing on arm’s length terms can substantiate their position by retaining sufficient evidence to demonstrate that each aspect of the LRBA as a whole has been benchmarked to commercial terms in substantially the same circumstances.
In particular, an SMSF trustee must ensure that the interest rate, LVR, loan term and security provided as well as the other terms of the borrowing are consistent with an arm’s length dealing.
In forming its view, an SMSF trustee must take into consideration all these factors to ensure it can support the position that the LRBA terms have been continually maintained on an arm’s length basis.
Importantly, a written loan agreement and related documents should be prepared and should reflect the arm’s length terms.
The parties must also act in accordance with the terms of that agreement, eg, ensure regular monthly repayments are being made (at least from 31 January 2017).
SMSF trustees should also obtain quotes from banks, mortgage brokers and from other sources to support the arm’s length terms.
As a result of the latest ATO views expressed in TD 2016/16, SMSF trustees undertaking related party LRBAs should also seek to document cash flow projections in respect of any proposed acquisition that reflects a positive cash flow and capital appreciation wherever possible to minimise any NALI risk.
TD 2016/16 replaces the ATO view outlined in ATO ID 2015/27 and 2015/28, which have been withdrawn. PCG 2016/5 has also been revised following the release of TD 2016/16.
Broadly, the key change is the ATO’s clarification in TD 2016/16 regarding the need to establish a hypothetical arm’s length borrowing arrangement in determining whether NALI applies.
TD 2016/16 is a public ruling that can be relied on by taxpayers and is binding on the Commissioner.
SMSF trustees with related party LRBAs have until 31 January 2017 to ensure that each LRBA is either benchmarked to the LRBA guidelines provided by the ATO in PCG 2016/5 or arm’s length benchmark evidence has been obtained to support the terms of their arrangement.
This benchmark evidence should demonstrate that the parties are dealing on arm’s length terms and preferably moving forward should be accompanied by cash flow projections.
Daniel Butler is director and Rebecca James SMSF lawyers, DBA Lawyers. They can be contacted <a href="https://www.dbalawyers.com.au" target="_blank">here</a>.
</body></html>

ATO’s revised view on LRBAs and the NALI risk

<html><body>
The recent Savills Prime Full Floor Availability Report indicates the state of the leasing market and is used to assess office stock vacancy in a different manner to most vacancy surveys.
The report graphically shows each Premium and A grade building, as well as top B grade buildings in the CBD on a floor-by-floor basis.
The report highlights which floors are available for lease in each building, now and in the near future, including those under construction and refurbishment.
The September 2016 Adelaide Prime Full Floor Availability Report results are detailed below.
<a href="/images/2016/10/25/Adelaide%20full%20floor.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/25/Adelaide%20full%20floor.jpg" alt="">
Compared to September 2015, the number of full floors available has increased from 47 to 65 in September 2016.
Of the 65 prime floors, all are available for occupation within the next six months. All of this space is available for occupation as either direct or sub-lease vacancies.
Further options exist for tenants seeking B grade buildings, with 38 full floors currently available to the market.
The chart below tracks available space within prime office buildings as a percentage of the total prime office space in the CBD.
On a quarterly basis, the number of prime full floors available has increased from 57 in June 2016 to 65 in September 2016, representing 13.1 percent availability rate.
<a href="/images/2016/10/25/Adelaide%20office%20full%20floors.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/25/Adelaide%20office%20full%20floors.jpg" alt="">
According to the Property Council of Australia (PCA), the Adelaide CBD office market vacancy rate increased in the 12 months to June 2016, reaching 15.8 percent, up from 13.5 percent in June 2015.
This is the highest vacancy rate since 1999, however not significantly higher than the five year average of 13.0 percent.
A similar trend has occurred in the Fringe office market. The headline vacancy rate in the Fringe increased from 8.0 percent in June 2015 to 10.2 percent in July 2016, according to the PCA.
There is an increasing gap between prime and secondary grade space, with A- Grade buildings recording a decline in the vacancy rate for the first time in two years.
<a href="/images/2016/10/25/Adelaide%20CBD%20vacancy%20rates.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/25/Adelaide%20CBD%20vacancy%20rates.jpg" alt="">
The majority of the increase in the overall CBD vacancy rate at the tail-end of 2015 can be attributed to an increase in the availability of sub-lease space in A and B Grade buildings, however sublease vacancy now declined marginally during the first half of 2016.
Around 10,000 square metres of sublease space has been leased, while direct vacancy has increased. A and B Grade buildings are mostly responsible, with vacancy in both of these grades showing the largest movement in available space in the six months to July.
The return of refurbished space in 81-95 Waymouth Street recently, along with 50 Flinders Street and the partial return of 1 King William Street earlier this year, added almost 40,000 square metres of A Grade stock to the market.
While some of this has been absorbed through the relocation of PCCU and the Department of Environment, Water and Natural Resources, subsequent backfill and rationalisation of other space has placed some pressure on supply levels and thus the amount available vacant space in the market.
<a href="/images/2016/10/25/Adelaide%20office%20vacancy%20rate.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/25/Adelaide%20office%20vacancy%20rate.jpg" alt="">
</body></html>

Number of full floors available in Adelaide has increased compared to last year: Savills

<html><body>
REA Group has constructed a technology and invention space in Melbourne's Richmond to create, trial and launch the newest technologies for consumers to experience property.
REALABS will house a range of new technologies such as virtual reality, augmented reality, drones and robotics and will become the training centre for the Group’s global graduates, design engineers and product teams. 
Nigel Dalton, chief information officer has been appointed chief inventor.
The role of chief engineer role will replace that of the chief information officer, with a global search to fill the role underway.
REALABS will officially open in November 2016. 
</body></html>

Former REA Group CIO Nigel Dalton named chief inventor, gifted tech think tank

<html><body>
Brisbane’s Everton Plaza has been earmarked for a major renovation after being sold for $27,700,000.
Brisbane-based private investors acquired the neighbourhood centre, which is situated in the inner city suburb of Everton Park.
CBRE’s Queensland retail investments team of Michael Hedger and Joe Tynan negotiated the deal following a competitive expressions of interest campaign.
The campaign attracted over 94 enquiries, both locally and offshore, with 11 formal offers to purchase tabled.
“Along with experienced retail property development firm, Reds Group, the new owners plan to reposition the Centre and to invest significant capital to turn the 1969 built centre into a popular retailing destination that supports the strong demographics within the Main Trade Area (MTA),” he said.
The well-established neighbourhood centre is anchored by a Coles supermarket and includes two mini-majors and 30 specialty retailers. Key tenants include the Everton Park Medical Centre, Fernwood Fitness, Australia Post, BWS, ANZ and Chemmart Everton Park.
Based on the current net income, the sale was struck at a yield of 7.1 percent.
“Buyers were attracted by the centre’s prominent location and affluent MTA, with household income being approximately 14 percent higher than the Brisbane metropolitan average,” he said.
“While the low cost of debt remains available, we will continue to see a gradual firming of yields, especially with centre’s that offer a significant value uplift with repositioning options.
Situated 9km north-west of the CBD, the property has a gross lettable area of 7,198sqm and is situated on a large inner city landholding of 17,504sqm, providing parking for 230 cars on grade.
It benefits from frontage to two major arterials - Stafford and South Pine Road - and is in close proximity to multiple transport links.
Reds Group spokesperson Bronwyn Timms said the focal point of the redevelopment of Everton Plaza would be a new casual laneway dining precinct known as Park Lane.
“The development is the vision of Reds Group, who has experience in delivering retail centres locally and nationally, including intimate food and beverage precincts,” she said.
“A key attraction for the buyer group was the centre’s strong inner city demographic which has been supported by the interest to date from some of Brisbane’s well known A-grade food &amp; beverage retailers.”
</body></html>

Investors go shopping with $27 million acquisition in Everton Park

<html><body>
Clarence Property's Epiq Lennox Head develop will open its community sporting field early 2017 to the public.
The development includes an AFL ground, two rugby fields, two soccer fields and two synthetic cricket pitches.
A clubhouse that features a canteen, meeting room, public amenities and change rooms will start construction mid 2017.
Construction of a neighbourhood shopping precinct including a supermarket, specialty shops, a childcare centre and a medical centre is slated to commence in the second half of 2017.
Paul Rippon, general manager Clarence Property said the next stage of land is expected to be released in early 2017.
"We are planning to release stage three early next year, and we will follow the same ballot style sales process we had in place for stage two. All buyers will have the opportunity to register their interest ahead of an exclusive sales event, where the names of registered buyers are drawn and those purchasers are then invited to secure their preferred homesite," he said.
"We implemented the ballot system because there is such incredible demand for land at Epiq Lennox Head that we had multiple people vying for the same homesite before the lots were officially released.
"I expect to see the same level of demand for stage three, especially now the first homes in stage one are under construction and the community is starting to take shape.
"Prices in stage two ranged from $250,000 to $365,000 which is very affordable when you consider the community's location just minutes from the beach and within easy reach of employment hubs like Ballina, Lismore, Tweed City and the Gold Coast."
For more information, please visit <a href="https://www.epiqlennox.com.au" target="_blank">www.epiqlennox.com.au</a> or <a href="https://www.clarenceproperty.com.au" target="_blank">www.clarenceproperty.com.au</a>
</body></html>

Epiq start to 2017 Lennox Head community

<html><body>
Caloundra is the fastest ranked suburb in Queensland where a house will spend the least amount of time on the market, according to Investar’s latest market report.
The property investment firm states that the average time a house in Caloundra will spend is 67 days.
This is followed by Durack with 68 days and Birtinya with 69 days.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="106">
Suburb
</td>
<td valign="top" width="106">
Postcode
</td>
<td valign="top" width="106">
Bedrooms
</td>
<td valign="top" width="106">
Days on market
</td>
</tr>
<tr>
<td valign="top" width="106">
Caloundra
</td>
<td valign="top" width="106">
4551
</td>
<td valign="top" width="106">
4
</td>
<td valign="top" width="106">
67
</td>
</tr>
<tr>
<td valign="top" width="106">
Durack
</td>
<td valign="top" width="106">
4077
</td>
<td valign="top" width="106">
3
</td>
<td valign="top" width="106">
68
</td>
</tr>
<tr>
<td valign="top" width="106">
Birtinya
</td>
<td valign="top" width="106">
4575
</td>
<td valign="top" width="106">
4
</td>
<td valign="top" width="106">
69
</td>
</tr>
<tr>
<td valign="top" width="106">
Algester
</td>
<td valign="top" width="106">
4115
</td>
<td valign="top" width="106">
4
</td>
<td valign="top" width="106">
73
</td>
</tr>
<tr>
<td valign="top" width="106">
South Ripley
</td>
<td valign="top" width="106">
4306
</td>
<td valign="top" width="106">
4
</td>
<td valign="top" width="106">
74
</td>
</tr>
</tbody></table>
For the median price of $481,000 in Caloundra investors are able to purchase a four bedroom home at <a href="https://www.domain.com.au/22-osprey-street-caloundra-qld-4551-2012952959" target="_blank">22 Osprey Street</a> (above) that is for sale for $460,000.
</body></html>

Houses in Queensland's Caloundra spend 67 days on market on average: Investar

<html><body>
Some 54 percent of pet owners polled for a recent survey considered landlords and property managers should be compelled to allow tenants with pets.
The PETstock Pet Parent Survey interviewed more than 905 pet owners from around Australia and found more than half of all pet owners believe laws must be changed to force landlords to allow pets in rental properties, with most saying it took a long time to find somewhere they could live with their animals.
PETstock chief executive of cer Shane Young said only 1.5 percent strongly disagreed with the need to change the law.
“In Victoria, there are no laws that directly cover pets in tenancies or residencies, but landlords often include a clause in the lease banning them,” he said.
"However this may soon change with the Victorian Government currently reviewing tenancy laws, including the law around pets. Any change to the law in Victoria may set a precedent for other states to follow.
"For many people, pets were part of the family and it was heartbreaking to have to give them up if they couldn’t find suitable rental accommodation.
“Given that an incredible 83 percent of respondents agreed or strongly agreed that they treated their pets as their children, these figures are not surprising.
“When they are looking for a place to live it can be really hard for pet parents to  find a place where the owners will allow them to keep their pet.”
"The Pet Parent Survey found that 70 percent of owners took a lot of time and effort to  find pet-friendly rental accommodation. Of those who were renting homes with their pets, 84 percent said the landlord allowed it, while 4 percent said their landlord didn’t know. Just over 10 per cent said the landlord wouldn’t usually allow pets but had made an exception in this case."
</body></html>

Pro-pet rental problem for landlords, property managers 

<html><body>
The $650 million Serenity Cove waterfront development in Queensland's Hope Island is slated for release following some $25 million spent on civil works development.
The 465-dwelling community set around an 18ha lake on a 75ha parcel of land is a joint-venture partnership between Malaysia-based multinationals Sime Darby and Brunsfield International Group.
Serenity Cove will comprise a mix of apartments, townhomes and freestanding homes, a mini-marina and a 3800sqm retail and dining precinct on Lake Serenity.
<img src="/images/2016/11/10/Serenity%2012751-44%208k%20RT-Hero.jpg" alt="">
Project manager Mark Mehr said Serenity Cove is the last development of its kind at Hope Island.
“It’s the ideal time to introduce this project to the market given that pent-up demand but also because it will deliver a mix of dwelling types to suit a wide range of lifestyles in an exceptionally beautiful setting,” he said.
"More than a third of the site (27ha) has been preserved as nature reserve while a further 10ha will become parkland, and just 19ha will be developed."
Colliers International national director, projects Tony Hymus said the development presented an opportunity at Hope Island that could not be replicated.
“This is the last piece of land at Hope Island that can accommodate a master planned community,” Mr Hymus said.
“Residential land opportunities at Hope Island are starting to dry up given that many of the long-term projects in the area are coming to their conclusion.
"Serenity Cove will offer buyers the chance to secure a waterfront residence within a spectacular community in one of the most prestigious residential areas of the Gold Coast.”
<img src="/images/2016/11/10/Render%201.jpeg" alt="">
Serenity Cove will come to the market as plans for the Hope Island Town Centre progress, providing the area with its long-awaited retail and business heart.
For more information <a href="https://serenitycove.com.au" target="_blank">click here</a>.
</body></html>

Serenity Cove waterfront development at Hope Island ready to be launched

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Joel Robinson

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

[smartcode_project:default project_id=140755 project_image_fid=354809]

The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

[smartcode_project_cta:default project_id=140755]

The enduring appeal of Kew's tree-lined streets and village lifestyle

"For me, it's the location." That was the first thing Chris pointed to when reflecting on why he and his wife Marita decided to purchase at Candela Ivanhoe, the under-construction new apartment development by Salter Brothers in the heart of the north-eastern M​elb​ourne​ suburb. ​

"We've lived here before… everything is here," Chris said.

"Our doctor is around the corner, there's dentists, pilates, everything we need, restaurants, fast food places, two train stations, Ivanhoe and Darebin, both in walking distance. You don't need anything else."

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/X8K0Bozug7A?si=Puwc6vx_ZO0qQZF8" title="YouTube video player" width="560"></iframe>

Just 10 kilometres from Melbo​urn​e's CBD, Ivanhoe combines direct city connectivity with the amenity of an established village community. Residents have access to highly regarded schools, expansive parklands, public transport, and a thriving retail and hospitality precinct centred around Upper Heidelberg Road, all within a neighbourhood that has retained its leafy character despite its proximity to the city.

<a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> sits within the heart of this established landscape, positioned just moments from Ivanhoe Village and within walking distance of many of the suburb's most sought-after amenities.

[smartcode_project:default project_id=342 project_image_fid=364553]

From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.

Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.

The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.

[smartcode_project:default project_id=342 project_image_fid=357510]

While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

[smartcode_project:default project_id=342 project_image_fid=336455]

Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.

Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.

That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.

Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.

[smartcode_project_cta:default project_id=342]

Location and lifestyle drive demand at Candela Ivanhoe

As apartment buyers increasingly look beyond the four walls of their residence, the quality and depth of shared amenity has become a defining factor in how developments are designed and experienced, particularly in the high-rise, new apartment development space.

In Southbank, where high-density living continues to evolve, developers are placing greater emphasis on creating environments that support wellbeing, connection, and convenience as part of everyday life.

That approach sits at the heart of <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">AURA</a>, the latest residential tower in <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a>’s $3.5 billion Melbourne Square precinct. Rising 67 storeys above Hoff Boulevard, the 673-apartment development has been conceived around what OSK describes as a “vertical wellness ecosystem”, a layered collection of amenities that extends throughout the building rather than being confined to a single podium level.

[smartcode_project:default project_id=151921 project_image_fid=370263]

The amenity offering begins on the seventh level within the AURA Club, a dedicated resident hub focused on health, relaxation, and daily convenience. Here, residents will have access to an indoor swimming pool, cold plunge, spa, sauna, and steam room, alongside a fully equipped gym, reformer Pilates studio, and yoga room.

The wellness facilities are complemented by a range of spaces that acknowledge the changing ways people live and work. Work-from-home lounges and co-working areas sit alongside a library, music room, games room, cinema facilities, and open-air terrace spaces, providing residents with flexible environments that can adapt throughout the day.

[smartcode_project:default project_id=151921 project_image_fid=367468]

Beyond the internal amenity, AURA introduces a series of Japanese-inspired gardens that form a quieter counterpoint to the tower’s social spaces.

Landscaped retreats feature curated outdoor dining, tranquil courtyard seating, fire pit, and a tea house pavilion. Rather than functioning as simple recreational areas, the gardens have been designed as places for reflection and informal gathering, drawing on principles of balance, nature, and calm that underpin the project's broader design philosophy.

[smartcode_project:default project_id=151921 project_image_fid=367810]

The social amenity continues to evolve as residents move higher through the building. Levels 49 and 50 house the Meridian Club, where a lounge bar, conservatory spaces, and private dining rooms take advantage of elevated city views. At the summit of the tower, the exclusive Cumulus Club spans Levels 66 and 67, offering additional lounges, private dining, and meditation and treatment rooms positioned above Melbourne’s skyline.

For OSK Property, the extensive amenity offering reflects a broader focus on wellbeing as a core component of apartment living rather than an added feature.

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after Southbank,” says OSK Property CEO Chong Boon Woon.

[smartcode_project:default project_id=151921 project_image_fid=367796]

AURA’s amenity strategy extends beyond the tower itself through its integration with the wider Melbourne Square precinct.

Residents will have direct access to Kennedy Park, Southbank’s 3,745 sqm landscaped public park, alongside a full-line Woolworths supermarket, childcare centre, hospitality venues, and approximately 1,600 sqm of additional retail planned within AURA’s lower levels. Together, these elements create a highly connected residential environment where daily needs, recreation, and wellness are woven into the fabric of the community.

[smartcode_project:default project_id=151921 project_image_fid=370253]

As Melbourne’s apartment market continues to mature, developments are increasingly judged by the lifestyle they provide beyond individual residences.

Through its combination of wellness facilities, landscaped retreats, social clubs, and precinct-wide amenity, AURA represents a shift toward a more comprehensive model of vertical living, one where shared spaces play as significant a role as the homes themselves.

[smartcode_project_cta:default project_id=151921]

AURA elevates amenity living at Melbourne Square

Builder-developer Scion is the latest to target Sydney's booming Hills Showground Metro precinct, filing plans for more than 100 apartments within walking distance of the station.

Scion has lodged a concurrent rezoning and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/27-33-middleton-avenue-castle-hill-nsw-2154">27–33 Middleton Avenue</a>, where it plans to replace four existing homes with an 11 and 14-storey mixed-use development comprising 109 apartments, six affordable housing dwellings, and a ground-floor café.

Designed by BHK Architects, the proposal includes three levels of basement parking with 174 spaces, more than 1,200 sqm of communal open space, and extensive landscaping across the 3,791 sqm site.

The development has been designed as two buildings connected by a recessed wintergarden spine, with the 14-storey building positioned to the south and the 11-storey building to the north.

<img alt="Scion" data-entity-type="file" data-entity-uuid="64dc359d-736b-43b8-87a8-70a8285cab47" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-25%20at%208.47.01%E2%80%AFPM.png?VersionId=PXh.m8id_aevBPHEckPf88wQ2RQThPos" />

The apartment mix has been weighted towards owner-occupiers, with 13 one-bedroom apartments, 55 two-bedroom residences, 31 three-bedroom apartments, six three-bedroom lofts, and four four-bedroom homes. Six apartments will be dedicated as affordable housing in line with the NSW Housing SEPP.

According to the Architectural Design Report by BKH, the proposal seeks to create "a place-responsive architecture" inspired by the natural landscape surrounding Cattai Creek, while strengthening the public domain through landscaping, active frontages and a neighbourhood café.

Atlas Urban, in its Urban Design Report, says the proposal takes a different approach to increasing density around Hills Showground Station by favouring a more slender, vertically articulated built form over a conventional mid-rise outcome. The report argues this allows for greater deep soil planting, improved solar access and a better public domain outcome, while still delivering additional housing close to rapid public transport.

The site sits around 500 metres from Hills Showground Metro Station, within a precinct earmarked for significant residential intensification following the opening of the Sydney Metro Northwest line. Planning documents accompanying the application note that Greater Sydney's population has grown by more than one million people since planning for the precinct first began, reinforcing the need to accelerate housing delivery around existing transport infrastructure.

Scion is expanding its development pipeline which also includes <a href="https://www.apartments.com.au/new-apartments/chatham-west-ryde-2-6-chatham-road-west-ryde-nsw-2114">Chatham in West Ryde</a>, 62 apartments which are approaching completion. They also have a State Significant Development Application with the NSW Government's Housing Delivery Authority for <a href="https://www.apartments.com.au/new-apartments/96-anzac-avenue-west-ryde-nsw-2114">145 apartments on Anzac Avenue</a>, also in West Ryde.

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News