<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

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Ellen Walker

Off-the-plan property explained: What is stamp duty?

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

<img alt="iCIRT" data-entity-type="file" data-entity-uuid="dcbb59af-3d5a-43aa-b28e-a66e55a83568" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Announcement.png?VersionId=6OD8r.v.oucEF01BWxR85urzoD9seQ9e" />

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

<img alt="mirvac" data-entity-type="file" data-entity-uuid="1c11c691-e8cd-46c3-88fd-6c8d614e8357" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mirvac.png?VersionId=ZqDqNL36WJOOCmNMmmO93Q2GTrFOBomz" />Mirvac is a 5 Gold Star iCIRT rated developer, the highest possible rating a developer can get: Harbourside by Mirvac

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

<img alt="iCIRT" data-entity-type="file" data-entity-uuid="958e1497-8151-4689-aadc-baf59f6e6122" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/iCIRT-Infographic-Assessment-Process-Final.png?VersionId=7KyVcwSo4vCLXBYBdq382e3Si.R.9PWQ" />

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

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Confidence is back, baby. But before you get too carried away, it is from a very low base.  
This somewhat surprising lift in confidence is nice and all, but the key question is what people do in the future.  The readings of the confidence entrails suggest more of the same – that is, being very cautious about our investment options.  
Despite eight out of ten people - according to a recent RP Data poll - thinking now is a good time to buy a property, a third of the population believes the wisest place for new savings is still in the bank.  Amazing, really, given that interest rates are at their lowest levels in 53 years.  
Encouragingly, housing is being seen as a more attractive investment with a quarter of the Westpac/Melbourne Institute survey sample now thinking such.  
Also on the positive side, the ‘good time to buy a dwelling’ index continues to rise, being currently at 143.3 (a reading over 100 means the number of optimists outweighs the number of pessimists) and according to RP Data, one in two households think that real estate prices will rise in the next 12 months, with just two out of five thinking that they will remain stable.  Only 9% think they will fall.  
And yet Australians remain very hesitant about buying property.  
Maybe it is the ongoing global economic concerns or our sluggish labour market that is to blame.  A lack of political leadership perhaps?  Or maybe it is something more fundamental, like selling their existing homes in order to move.  The RP Data survey shows that just over a third think it is a good time to sell.  
My reading here – and the Westpac/Melbourne Institute’s ‘good time to buy a dwelling’ index is a reliable lead indicator, outlining the likely direction of the housing market in about six to nine months’ time – is that most buyers will sit on their hands until early next year and then rush in as it becomes obvious that residential property is on the improve.  
"The early bird catches the worm."  
Home loans  
We wrote a phone book about this <a target="_blank" href="https://matusikmissive.com.au/2013/05/21/best-served-annually/">topic</a> only a few weeks back, so I won’t bore you to tears again so soon, suffice to say that:  
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Investors are starting to get into the market – being those who like to eat their worms early – with over $8 billion in investment loans last month (April).  This is the highest level in five years.
</li>
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<li>
Other owner-resident buyers are also starting to get active, showing the strongest gain in four years.
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<li>
First home buyers remain subdued, renting now instead of buying.  They were brought forward in droves during 2009 &amp; 2010, so seeing them ‘rest’ isn’t really all that surprising.
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</ul>
One in five borrowers now takes out a fixed home loan according to the ABS – the highest level in five years.  The average home loan is now $301,800.  
According to the AFG Mortgage Index, the current average loan-to-value ratio is 66% down from over 70% late last year.  
My thoughts here are that it is usually investors who start a housing recovery. So history is repeating itself – which is somewhat comforting in a rapidly changing world.  
What makes for strong residential recovery is when all three buyer segments – investors, second and subsequent owners and first timers – all improve at the same time.  This is what happened in the early to mid- 2000s, for example.  When only one or just two buyer segments improve, then the residential upturn is milder by comparison.  
Right now, we are looking at a mild recovery, when compared to previous cycles.
 
Michael Matusik is the founder of <a href="https://www.matusik.com.au/">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read <a href="https://www.matusikmissive.com.au/">Michael’s Blog</a> or follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts">Facebook</a> and <a target="_blank" href="https://www.twitter.com/michaelmatusik">Twitter</a> or connect via <a href="https://www.linkedin.com/in/michaelmatusik">LinkedIn</a> 
 
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Confidence in the property market bounces back from a low base: Michael Matusik

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Footscray is ripe with developments in the pipeline, including a residential apartment complex on the existing Footscray plaza building – No 18 Albert.
After a successful launch of stage one proving to be a complete sell out, stage two of No 18 Albert has officially launched with 100 apartments up for grabs.
The Banco Group development is sited above a revamped Coles and Kmart at 18 Albert Street Footscray and will feature a total of 234 apartments across five levels once completed.
One-bedroom apartments range in size from 55 square metres to 56 square metres and range in price from $340,000 to $405,000.
Two-bedroom apartments range in size from 67 square metres to 90 square metres and range in price from $465,000 to $500,000.
“While stage one of No 18 Albert captured the western urban landscape, strong demand is expected for stage two, with many of the apartments having uninterrupted views to Melbourne’s CBD or a tranquil landscaped garden aspect,” says Andrew Barbone of Banco Group.
Apartments will boast stone kitchen bench tops, European appliances a secure car park and private terraces.
“Our early start on No 18 Albert can be read as a sign of the momentum in Footscray and the anticipated continued enthusiasms for considered, architect-designed, contemporary and spacious apartments that offer quality at an affordable price tag.
“Footscray offers the opportunity for capital growth in a suburb that’s in the early stages of gentrification and is the subject of significant visible public and private investment,” says Barbone.
Director of JAM Architects Chris Manton says the existing Footscray Plaza building has been re-worked into what will be the new centre of Footscray.
“The façade has been designed to be a dynamic arrangement of balconies, screens and panels, presenting life and movement to the street,” says Manton.
The development is due for completion in September 2014.
The median unit price in <a target="_blank" href="/news">Footscray</a> is $360,000 and the median gross rental yield is 4.3%, according to RP Data.
Property Observer recently <a href="https://www.propertyobserver.com.au/victoria/melbourne-property-market-a-buyers-market-footscray-west-footscray-maidstone-herron-todd-white/2013061761944" target="_blank">reported</a> on Herron Todd White’s Melbourne month in review, with the valuers giving the thumbs up to the market in Footscray, West Footscray and Maidstone.
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No 18 Albert in Footscray releases stage two of apartment complex after stage one sells out

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Three penthouses in the One Central Park West development in Central Park have sold, with five penthouses still up for grabs with a price guide of $1,295,000 to $2,295,000.
Property Observer <a target="_blank" href="https://www.propertyobserver.com.au/residential/sky-at-one-central-park-preview/2013061262168">reported </a>on the public preview of the penthouses on June 15 and June 16.
{qtube vid:=B_AMa50iDCE&amp;feature=youtu.be}
Designed by Jean Nouvel and PTW Architects, the penthouses feature interiors designed by William Smart of Smart Design Studio.
Smart says they wanted to take what the car industry does with the interiors of its vehicles and apply that to apartments.
''A prestige brand will take luxury down to the smaller and more compact cars.
''We wanted to do the same," says Smart.
Two-bedroom penthouses start from 90 square metres and three-bedders start from 200 square metres in size.
Each penthouse boasts a large timber-decked terrace, enclosed by glass balustrades and deep garden beds.
The three-bedroom penthouses located on the 16th floor of One Central Park's west tower feature a 57-square-metre outdoor space and over 20 square metres of garden.
Potential buyers will have the choice of four colour schemes for their apartment, Oak, Ebony, Tangerine and Bronze.
The penthouses also include appliances by Miele.
Residents of the skyhomes will have exclusive access to a level-29 sky garden, a plunge pool, barbeque and landscaping.
One Central Park's west tower is part of the $2 billion Central Park development on Broadway in Sydney's Chippendale, an ongoing development of Frasers Property Australia and Sekisui House.
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Five penthouses in One Central Park West on the market for $1,295,000 to $2,295,000

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Last week I started to outline why product design and planning are project marketing essentials. I think it is reasonable to suggest that the project marketing team should play an important role here, because comprehensive planning can only improve the end product eventually taken to market.
While product design and planning tends to be seen as a non-core responsibility of the sales team I do not think this is the most productive approach. While clearly central to the architectural and building roles, this should also, and frequently does, need too include an active involvement from the sales and marketing teams. Together they can play a vital role that will help produce a final product the market wants and is happy to buy at the most competitive price helping to secure revenue targets.
During the planning cycle the anticipated prices for the end product are the core of the project’s viability. So the aim is not to overlook any aspects during the product review that could either directly reduce prices or delay sales. Product planning should be all about securing the best prices within the shortest possible time.
In a complex environment like this, there is a theme that keeps resurfacing that is a ‘collaborative’ effort. This is not always the way and poor planning can influence outcomes in the short and long-term. Lets consider a simple example.
Updating the buyer’s perspective
For reasons that are hard to pin-down an apartment balcony can end up with a view of roof-mounted air-conditioning units or garbage bays. Not only can the value of the apartment be impacted, but also it remains an ongoing source of frustration to the eventual buyer or tenant. Views are important and they’re not always picture perfect, but they should address privacy and everyday utility.
Hopefully a more collaborative approach might avoid such simple mistakes. It is also worth keeping in mind that services are very much a part of this discussion.
Poor design and services that are not subjected to sufficient checking can have ongoing and unexpected results. Post construction it might be possible to ‘fix’ the problems but band-aid solutions to overcome design or construction faults are never the best idea.
This type of outcome will, without doubt influence sales and prices. These concerns influence buyers across all apartment price bands. The problems can also extend beyond the directly affected apartment. If buyers are unhappy then bad reports about the development could result, and thanks to word of mouth and now social media soon spread.
The ramifications from not undertaking a solid product review as part of the project planning can be complex and ongoing. From a project marketing point of view the question should always be: will any aspect of this product and design stop or delay a sales or restrict the target in a negative way, is this what the market is looking to buy?
While these are simple question they can be taken for granted, mistakes still happen and so it is worthwhile setting in place structures that will help avoid any potential problems.
The Project Marketing function should play a co-operative pre-delivery role, as a core role to help secure sales and to help achieve the maximum sales revenue. After all lets be realistic because the project revenue will in the end be the main measure of success or failure.
 
<hr class="system-pagebreak">
The financial model
The marketing effort needs to be involved from the start of any project. The marketing team can champion the consumer’s perspective. So that via constructive and well-researched feedback the final product is the most suitable it can be within the project’s financial envelope.
Clearly there will always be a financial framework, and this raises the issue of how product research is applied. Those involved in marketing do need to invest time and energy so that any research is used in the most pro-active and constructive way – to get the best value from the funds available. We need to contribute more than feedback, there needs to be buckets of clever thinking as well.
This should be an area supported by solid and on-going feedback between project groups. Feedback is always valuable it helps highlight things that are going according to plan, or that they may not! Despite the best planning buyer feedback should be used to help pinpoint any problems that can be addressed in the future.
The aim should never be to get the job done with little fuss and without any product delivery involvement happily in my experience this is not the typical view.
Sales Revenues
Planning has a vital impact on sales revenue and it is important for the whole project team to stand shoulder to shoulder in achieving revenue targets.
From the start of any development revenue expectations should be clearly understood by the entire project team, and targets defined. Varied issues can impact ongoing sales and so there should also be regular revenue up-dates. Sales results and target (time in the market) will be a central.
Given the funding costs associated with every development, the time taken to sell all stock is very important.
Time in the market will be a big influence because un-sold inventory has a material impact on every project. It’s a factor no matter if we are selling off the plan or selling completed product. Time in the market is an area that marketing plans must always keep central and continue to review.
If sales rates are not being achieved the circumstances need to be closely examined and this is where we might find our teams looking back to the product review for re-assurance or with some doubts.
If marketing off the plan the required sales rate should drive all of the marketing dynamics. If a critical number of these sales are required to secure the project’s finance then the task is all the more important. If the pre-sales are not achieved the project will be delayed or may not go ahead.
What sells and when?
In addition to planning and then managing the sales timeline it will also be necessary for the team to influence the type of stock taken to market and sold. Product planning is again central here because experience predictably shows what apartments are more likely to sell first.
In a majority of big projects it is the smaller apartments that tend to sell first and the bigger (and more expensive) apartments that sell last and in smaller buildings it’s often the reverse.
Another key part of planning is how to manage the available stock to meet revenue targets. If a particular apartment design sells out and others fail to sell, then the on-sale mix may need to change. If this is not possible because for instance a projects starts to near completion, then other steps, such as price leverage may have to be used to move less popular stock.
If apartments are being built and completed in stages across various buildings then in some circumstances, it may be possible or necessary to review the product offer and again buyer feedback will be an influence.
When off the plan sales are slow, it may well delay the entire development and the marketing will need to be alert to this and again it may be necessary to review the product mix.
By contrast if off the plan sales run away this could well indicate that prices or other factors, such as the release strategy needs to be re-visited. Too many sales at prices below possible potential may impact the total end profit result. Across the varied circumstances the consequence of poor product review and planning are unmistakable.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
 
 
 
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Product review and planning are key to project marketing: Peter Chittenden

<html><body>Australian Property Monitors (APM) has released a list of auction results in Brisbane for the weekend of June 15. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Brisbane.pdf" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's Brisbane auction results for June 15 weekend

<html><body>Australian Property Monitors (APM) has released a list of auction results in Adelaide for the weekend of June 15. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Adelaide.pdf" target="_blank" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Adelaide auction results for June 15 weekend

<html><body>Australian Property Monitors (APM) has released a list of results from 343 auctions in Melbourne for the weekend of  June 15. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Melbourne auction results for June 15 weekend

<html><body>Australian Property Monitors (APM) has released a list of results from 368 auctions in Sydney for the weekend of June 15. The clearance rate was 76.9%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Sydney's 368 auction results show a 76.9% clearance rate

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Investors in the LM Performance Fund (LMPF), of which Pimpama development Maddison Estate is a large asset, are at risk of not getting their investment back if trustees are unable to refinance a loan to Suncorp.
In an update released by KordaMentha, <a href="https://www.propertyobserver.com.au/queensland/trustees-appointed-to-gold-coast-based-lm-managed-performance-fund/2013041560407">the LMPF trustee appointed by the Supreme Court of Queensland</a>, Suncorp has stipulated a 30 June 2013 deadline for repayment of a $22 million loan.
LMPF was due to pay Suncorp in March this year but failed to meet the deadline.
Failure to repay this loan may result in Suncorp appointing a receiver to sell the property. The update also emphasised that the return of the existing $250 million investment in the fund will be minimal, and may be nil.
KordaMentha has advised that while the fund holds security over the development, it does not control the landowner, Coomera Ridge Pty Ltd, or the development.
LMIM founder Peter Drake has since provided KordaMentha access to the books and records of the developer, Maddison Estate Pty Ltd, as well as the Maddison Estate development.
KordaMentha and the developer have revised plans for Maddison Estate. It will now be a basic residential subdivision, without star-studded facilities such as a wave pool, volleyball courts, and aquatic centre as previously planned.
With the new master plan, KordaMentha engaged Knight Frank and Colliers International to review the revised layout. Both organisations recommended a decrease in price for developed lots, and a revision in revenue escalation rates.
The update added that previous revenue rate assumptions “were significantly overstated”.
Maddison Estate, a $1.5 billion Gold Coast Queensland residential community project, was marketed as setting residential community estate benchmarks.
With its strong focus on sporting facilities, the developer has attracted celebrity endorsements from the likes of Olympians Sam Riley, Natalie Cook, as well as world champion surfer Kelly Slater.
However, the podium finish success of Maddison Estate at Pimpama could be a long time off.
<img height="235" width="470" src="/images/stories/2013/05/may3maddison/6.jpg" alt="6">
Property Observer has reported previously that Maddison Estate is a major asset of the LM Performance Fund (LMPF), managed by LM Investment Management (LMIM), whose founder is Peter Drake.
 
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LMIM has recently entered into voluntary administration. The Supreme Court of Queensland has appointed KordaMentha and its affiliate firm Calibre Capital as joint trustees of the LMPF. Previously, John Park and Ginette Muller were appointed voluntary administrators of LMIM on March 19.
<img height="235" width="470" src="/images/stories/2013/05/may3maddison/20.jpg" alt="20">
Most of the $350 million invested in LMPF came from overseas investors, some in Malta.
Investors in the fund have a 60% exposure to Maddison Estate through a $234 million second mortgage, with a smaller $22 million first mortgage to Suncorp, which expired in March.
Property Observer also reported that a “steady stream” of investors are planning to lodge a class action suit against financial planners who recommended they invest in mortgage funds issued by LMIM.
<img height="263" width="470" src="/images/stories/2013/05/may3maddison/21.jpg" alt="21">
LMIM claimed to have $3 billion in funds under management with investors in 73 countries, according to the Gold Coast Bulletin.
The ABC’s Four Corners reported that LMPF was marketing the fund as a “bank-like facility”, but the claim was withdrawn by LMPF “as soon as it realised the potential for confusion.”
Pimpama, which is 30km north of Surfers Paradise, is the last remaining rural town on the Pacific Motorway between Brisbane and the Gold Coast. That was set to change with Maddison Estate and its landscaping by Jamie Durie.
Maddison Estate covers 118 hectares and has plans for about 2500 dwellings and 800 lots of land. It aims to house 3500 residents upon completion.
In addition to 2500 square metres of retail space, 37 hectares of parkland including 30 hectares of environmental reserve have also been planned.
The parkland was to be divided into six different parks, with a sports focus. According to Maddison Estate’s website, the project’s vision was created “in the spirit of developing our next generation of Olympians and in the lead up to the 2018 Commonwealth Games”.
As such, collaborations with Riley, Cook (pictured below), and Slater should not have been any surprise. Indeed Cook’s association with LMI began when Peter Drake financed her journey to the Beijing Olympic Games in 2008. She was slated to create a sandstorm beach volleyball park in Maddison Estate’s Central Park.
<img height="460" width="450" src="/images/stories/2013/05/may3maddison/24.jpg" alt="24">
 
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Riley, who runs six swim schools in Brisbane at present, also planned to open the first Gold Coast Sam Riley Swim School in the estate’s Central Park.
Property Observer could not ascertain at press time if Cook and Riley are still tied to the Maddison Estate project, but presumes their engagement is no longer required.
While the world’s first Kelly Slater wave pool was also marketed as a huge part of the project, Surfing Life reported in March this year that the “Kelly Slater Wave Company had entered into ‘an exclusive Memorandum of Understanding,’ to build one of its wave pools on the site, but no contracts had been signed and no money had changed hands.”
Slater also told Surfing Life, “…we aren't actually in business with Maddison as of now, and have been waiting to really understand what the truth of the whole matter is with the company anyway.”
Even with revisions from KordaMentha, Maddison Estate’s Facebook page still shows updates from November last year linking them to the Kelly Slater wave pool.
The project was meant to create an additional 3,500 construction jobs, as reported by the Gold Coast Bulletin.
LMPF’s latest financial report has stated that building companies Ausbuild, Clarendon Homes, Metricon and Plantation Homes have signed agreements with Maddison.
However, a check by Property Observer has found that all links between Ausbuild and Clarendon Homes to Maddison Estate have been taken offline. Metricon’s website has no link to Maddison Estate as well, although Plantation Homes had three listings on realestate.com.au for three seperate lots on the property.
LMIM first took control of the Maddison Estate project in 2010, after a joint venture with Young Land Corporation fell through, as reported by goldcoast.com.au in August that year. Under the partnership, the project was then named Arrowtown.
Coomera Ridge Pty Ltd, where Drake is the sole director, owns around 30 sites in Pimpama. These sites were mostly purchased between 2006 and 2009 according to RP Data records for $89 million, as reported by the ABC.
The Gold Coast City Council moved to speed up Maddison Estate’s approval process in August last year, as reported by ABC News. In October last year, the Australian Financial Review reported that the project had won preliminary approval, with the first 150 lot stage been fully approved.
According to the Maddison Estate January 2013 Project Update, bulk earthworks commenced, paving the way for the first 140 lots. Delivery of the first 29 lots and the first stage of Central Park is anticipated for later this year.
In February this year, a press release stated that the first phase of tree clearing and demolition works were completed, and bulk construction had commenced.
Multiple attempts to contact Maddison Estate’s site office to determine the current state of construction were unsuccessful.
The directors of the LMPF include Peter Charles Drake, who is the founder of LM Investments Management (LMIM), Eghard van der Hoven and Francene Maree Mulder, who both sit on the directorship of LMIM, as well as Katherine Phillips, who became the director of LMIM UK Limited in 2007.
While little is known about Drake and van der Hoven, Mulder has held several managerial positions in commercial mortgages, conveyancing, and the property sector, according to zoominfo.com. She is currently the Executive Director, General Manager Distribution and Product of LMIM.
Phillips was the director of LMIM UK Limited from 2007 to June 2012. In July 2012 she was appointed the director of the LMPF.
According to LMPF’s latest financial report, it has continued to pay investor redemptions, which make up 6% of Funds Under Management. This is a significant decrease from “a high of just under 40%” of redemptions.
At the time, the fund met the objective of maintaining investor capital, and “declared investor returns of 3.00%p.a. to 5.00%p.a. over cash rates whilst maintaining full capital value”.
The report also stated that management fees paid to LM Administration Pty Ltd by the LMPF totaled $11.36 million for the 2012 financial year, up from $1.39 million for the 2011 financial year.
LMPF stated in the report that the amount represents 3.1% of average net assets of the fund, and that it is a “pre-planned increase in management fees is reflective in the growth of assets in the Fund and allows the Manager to employ additional resources required to properly manage the assets to the benefit of the investors”.
The report also adds that the LMPF pays LM Administration Pty Ltd is paid an administration fee of 5% per annum directly from the scheme’s assets.
A disclosure update for LMPF was posted on 31 January 2013, stating that the fund’s assets totalled AUD$401 million.
The disclosure statement notes that commercial loans total $385 million, with the largest mortgage totaling $240 million.
 
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Back to basics for troubled $1.5 billion Maddison Estate

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The Redfern home of the late painter activist Brenda Humble, which was expected to fetch $2 million plus, was sold today at a record $2.58 million.
With original features including marble fireplaces, pressed metal ceilings and kauri floor boards, it was sold through Shannan Whitney of BresicWhitney inconjunction with Sandy Kogan of Richardson &amp; Wrench Bondi Junction.
There were around 15 registered bidders, some of whom got to push the price $350,000 above its reserve.
It was listed by her two children Jackie and Leif following Brenda Humble's 2011 death.
Her SMH obitiary noted she campaigned with the BLF in Victoria Street, Potts Point to stop overdevelopment and was then appointed by the Whitlam government as the community development officer for the municipal region.
After winning the South Sydney Art Prize in 1976, 1977, 1978 and 1980, she won the Portia Geach portrait award in 1982 with a painting of Virginia Hall.
She often exhibited at the <a target="_blank" href="https://www.evabreuerartdealer.com.au/artists/brenda-humble/2013-a-survey">Eva Breuer Gallery</a>.
Her last studio was the Chelsea Street, Redfern terrace that has Georgian-era traces.
The original freestanding cottage was subsequntly extended in the late Victorian era with the addition of a wing and horse stables.
There was also the conversion of the front room into a carriageway which was especially ideal during its ownership by the commissioner of the mounted police.
The terrace had been purchased in 1985 for $122,000.
<a target="_blank" href="https://www.rwbj.com.au/buying/NSW/Eastern-Suburbs/Redfern/House/1P2666">It is set on 392 square metres with rear lane on a quiet East Redfern cul de sac</a>.
Property Observer understands the previous highest sale in Redfern was $2.25 million. 
 
 
 
 
 
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