Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

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>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

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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The Westpac bank branch on Wodonga's High Street that was owned by tyre king Bob Jane’s former wife, Laree Jane has been sold to another investor on behalf of receivers at auction for $2.6 million.
The 460 square metre property at 141 High Street was sold as part of a Burgess Rawson portfolio auction this week.
The property was not advertised as a mortgagee sale until announced so by auctioneer David Scholes from Auctionworks at a packed River Room at Crown Casino.
The property was sold on behalf of receivers, Sellers Muldoon Benton having been marketed by Jamie Perlinger and Billy Holderhead from Burgess Rawson. 
Westpac has a seven year lease commencing in 2009 on the building which has the latest Westpac fit-out.
Land transfer documents obtained after the auction by Property Observer show that a company called Grabzoom Wodonga Pty Ltd based in South Yarra acquired the building for $2.763 million with a loan from the Commonwealth Bank.
The document is signed Laree Madonna Jane, listed as the sole director and sole company secretary of Grabzoom Wodonga Pty Ltd with ASIC documents noting a 504C notification of appointment of a  controller on February 20 this year.
On February 21 this year, a caveat was placed over the property with Pitcher Partners noting their lending against the property.
Bidding for the bank branch started at $1.7 million with four bidders competing for the property.
The winning bid of $2.6 million represented a yield of around 7% with Westpac paying annual rent of $195,000.
RP Data records show the bank was paying net rent of $184,000 per annum when it was acquired by Grabzoom.
Bob Jane and Laree Jane separated in 2008 after two decades of marriage following a bitter break-up and dispute over two Bob Jane T-mart franchises.
At the same auction three other bank branches sold including a <a href="/news">Commonwealth Bank in Swan Hill</a> which fetched $1.41 million.
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lschlesinger-FZcF9M3vE6

Bob Jane’s former wife Laree Jane sells Wodonga bank branch investment at a loss

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Switching on the telly the other night, I said to myself: “It’s that time again.”
I watched a media report on the age old Rent versus Buy Dilemma. It happens every cycle when we see rents increase and interest rates decrease. All of a sudden, tenants start to realise that they can buy for the same cost of renting.
What we have seen in most markets around the country is a continuous rise in rental returns over the past few years. We’ve seen this in the Hunter Region of New South Wales where Property Bloom develops.
The rise in rents has been great for investors already in the market who have benefited from strong yields. Our clients have achieved up to 9% gross yields.
But there comes a time when we reach a point in the property life cycle when interest rates are low so the cost to fund a mortgage is around the same cost as it is for a tenant to rent.
I’ve seen this happen before about twelve years ago in NSW when the interest rates were low, but the big difference back then was that the cash rate was fluctuating from 5.50% to 6.25% instead of 3% which is where we are now.
We thought the cash rate was low back then. So the average variable rate may have been around 8% compared to about 6% now.
Investors right now are on an awesome wicket... do you realise it?
If you are a new property investor, you may not appreciate this. We’ve had low interest rates since 2009. For the past four years, the cash rate has not been higher than 4.75%.
We oldies have worked with cash rates as high as 6.75% back in late 2007 so the variable rate would have been around 9%. I know my parents had to deal with much higher interest rates in the 1990s when the cash rate peaked at 17.5% - can you even imagine what that would have been like?
What I’m trying to say is: we are in such a fabulous environment right now for property investing.
Interest rates are at a record low, rental returns are high and we will very soon see tenants starting to buy rather than rent. This will create demand. Demand drives up sales prices and this translates to capital growth.
As property investors, this is great news as we will see our properties increase in value. But there is a flip side of course. As tenants move out of our investment properties to buy, there will be an oversupply of rental properties and we’ll have to drop our rents. This means lower yields.
We can’t have it both ways forever.
My message today is: don’t muck around if you are thinking of buying more property or your first property. Think of taking it one step further and add value to your property through developing it; I personally think you should be sitting pretty by developing now.
You’ll create or manufacture equity through the development process. And if you can time it when capital growth is occurring in your location, then you’ll hit the jackpot.
Jo Chivers is director of <a style="font-size: 14px;" title="Property Bloom" href="https://www.propertybloom.com.au/" rel="nofollow" target="_blank">Property Bloom</a>, which manages property development.
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jochivers-wq5Bp59R5a

We are in a fabulous environment right now for property investment

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An investor has paid $1.41 million at auction yesterday for the 491 square metre premises of the Commonwealth Bank on a corner site in the Swan Hill CBD in the Murray River region.
Before bidding began at the Burgess Rawson auction, the auctioneer David Scholes highlighted that the Swan Hill premises were “bookended” by two ATMs in a region with a booming economy led by agriculture, viticulture and tourism.
The Commonwealth Bank has renewed its lease for a further three years until 2016 paying rent of a round $102,533 per annum, but with no further renewal terms.
However, Scholes said the bank was keen to remain in the building, which it has tenanted for many years and which was recently upgraded.
Scholes said there might also be opportunities to strata the two-storey building should the Commonwealth Bank not sign a new lease.
Bidding started at $1.2 million with a handful of bidders competing for the property in the River Room at Crown Casino.
The winning bid of $1.41 million reflected a yield in excess of 7%.
Vendors may have been motivated by Scholes’ earlier remark that “banks are making so much money, I think your rent is secure”.
The property was marketed by Raoul Holderhead and Jamie Perlinger from Burgess Rawson.
The bank premises formed part of a Burgess Rawson portfolio auction.
Earlier the premises of the <a target="_blank" href="/news">ANZ Bank in Korumburra</a> sold for $462,000 on a yield of 5.2%.
Another bank branch, the NAB outlet on Sydney Road in Kilmore, bringing in annual rent of around $39,000, sold for $800,000 to local investor after it was passed-in on a vendor bid of $820,000 – a yield of around 5%.
Bidding started at $500,000.
Ahead of bidding Scholes disclosed the bank had not yet renewed its lease, which expires in September this year.
A head of agreement is in place to renew the lease, but has not yet been finalised.
The buyer can rescind the contract if the lease is not renewed.
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Bank tenants prove popular as Commonwealth Bank in Swan Hill fetch $1.41 million at auction

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A Melbourne-based private family has bought the premises of Bunnings in the Gippsland town of Sale from hardware family Dahlsens, after it was passed in yesterday at auction. 
Dahlsens, a regional Victorian <a target="_blank" href="https://www.dahlsens.com.au/history/history">hardware chain dating back to 1877</a>, had operated a hardware store on the premises in Sale since 1974 before selling the business to Wesfarmers-owned Bunnings in November last year. 
J.C. Dahlsens Investments acquired the building premises in 2003. 
Former BRW rich lister John Dahlsen, a fifth generation Dahlsen, is the chairman of the hardware chain started when John Christian Dahlsen opened of timber yard business in 1877 after travelling to Gippsland in search of gold.
He remained involved in gold mining for 40 years while establishing the hardware chain, which today comprises more than two dozen stores across regional Victoria. 
A sale price of $6.36 million was negotiated soon after the Burgess Rawson portfolio auction at a packed River Room at Crown Casino. 
Burgess Rawson director Billy Holderhead says the yield of 7.5%, based on annual rent of around $478,000, was the “sharpest for a Bunnings freehold since April 2011”.
The most recent Bunnings sale was the store in Bairnsdale, which sold for $8.2 million in January on a yield of 7.62%. 
The Bunnings in Echuca sold for $8.55 million in November last year on a yield of 7.89%.
Bidding for the 4,700 square metre building on Macarthur Street in Sale started at $6 million and was passed in on a vendor bid of $6.25 million. 
The building stands on an 8,200 square metre island site zoned business 1, integrated with the Mirvac Shopping Centre anchored by Coles, Woolworths and Target, with 44 on-title car space and an additional 61 car spaces bordering the building. 
The property comprises three buildings – a retail centre with in-store café, a separate drive through trade centre constructed in 2003 and a separate materials storage building, all that remains of the original structure operated by Dahlsens Hardware Stores before Bunnings purchased the business in November last year.  
Bunnings has just signed a new long-term terminated in 2022 with renewal options until 2042. 
The investor memorandum notes that the tenant can request that the landlord spend $1 million during the term of the lease in exchange for paying an upgrade rent equivalent to 7.5% of the cost of works. 
Sale, 200 kilometres east of Melbourne, is the commercial and administrative centre of Gippsland catchment trade population of around 31,000. 
Recently it has become established as the principle transfer space for offshore oil and gas operations in the Bass Strait. 
Sale is in Wellington Shire with a population of around 44,000 and 3,000 businesses. 
Six out of 12 properties that formed part of the Burgess Rawson portfolio auction in Melbourne yesterday sold at auction including the <a target="_blank" href="/news">KFC in Mentone</a>, a <a target="_blank" href="/news">Midas store</a> in Balwyn and an <a target="_blank" href="/news">ANZ Branch</a> in Korumburra. 
A travel agency shop on Waltham Street in Sandringham sold for $525,500 after the vendor withdrew a $530,000 vendor bid and accepted the lower  top bid.
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Melbourne family buys Sale Bunnings premises owned by Dahlsen family on 7.5% yield 

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A regional family-owned construction company in New South Wales responsible for redeveloping regional hospitals across Australia has collapsed, placing 180 jobs at risk.
On Monday afternoon, National Buildplan temporarily ceased work on its projects as administrators Martin Green and Peter Krejci of insolvency firm BRI Ferrier were appointed.
Initial investigations by the administrators have revealed many of the company's 50 active projects have been unprofitable, with four major projects taken on by National Buildplan resulting in substantial financial losses for the company.
A statement on National Buildplan's website says the company was placed in administration after "recent strategies to restructure the company and secure additional funding" were unsuccessful.
In an interview with ABC Radio yesterday, Krejci said the losses from the unprofitable projects are in the millions.
Krejci also said the company, which originally started in the regional New South Wales town of <a href="/news">Armidale</a>, employs 180 people and so far 110 jobs will be lost.
He said 70 employees will stay on to "ensure we maximise the value we get for those contracts" already in existence.
He said the unprofitable projects caused the firm to seek extra funding from its bank, but the bank decided not to extend the funding.
In November last year, National Buildplan and Watpac Construction secured a $65 million contract to expand the <a href="/news">Port Macquarie</a> Base Hospital.
The company also won an $8 million contract for works on the <a href="/news">Dubbo</a> Base Hospital and has a variety of other projects across regional New South Wales, Western Australia and Queensland.
There have also been reports of the company owing sub-contractors thousands of dollars. Krejci said sub-contractors in government projects will likely receive their money.
"The good news for a lot of the sub-contractors are those contracts would need to be continued with and whether the government decides to continue with the company under administration or find another builder, my understanding is it's the government's policy to ensure a lot of these sub-contractors are paid," he says.
The past year has seen a <a href="https://www.smartcompany.com.au/construction-and-engineering/054290-construction-company-collapses-owing-18-million-as-insolvency-figures-show-industry-in-for-more-pain" target="_blank">high number of collapses</a> within the construction industry and, in late January, the NSW Government inquiry into the industry listed 44 recommendations in an attempt to curb insolvencies.
These recommendations included establishing a new regulatory body, requiring contractors to set up and administer project trust accounts and strengthening the security of payment legislation.
Fairfax Media has reported National Buildplan made $152.41 million in revenue last financial year, but only made a net profit of $1.09 million.
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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yredrup-o4Anfe78KF

Jobs at risk following collapse of NSW construction company

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Two Asian investors have battled heartily for the premises of the KFC restaurant in Mentone in Melbourne’s southeast, but not before a sub-lease issue relating to the neighbouring Hungry Jacks eatery created some confusion among a packed room of bidders at Crown Casino.
The <a href="https://melbourne.burgessrawson.com.au/pol/property/search.asp?f_propertyID=1974963&amp;xsl=3546&amp;f_st=2&amp;f_ct=2&amp;f_ps=2&amp;tmpl=auction_detail" target="_blank">restaurant premises</a> eventually sold for $3.505 million equating to a gross yield of around 6.5% based on rent of around $227,167 per annum.
Bidding started at $2.8 million with a handful of bidders competing but eventually became a contest between two Asian buyers with $5,000 increases in the final stages of bidding.
Earlier the auction of the restaurant, listed third as part of a Burgess Rawson portfolio auction of 12 properties, was pushed back to later in proceedings due to clarification sought over the contractual arrangement with Hungry Jacks.
Bidding resumed later in the morning after auctioneer David Scholes read out a statement from the vendor’s lawyers that Hungry Jacks has agreed free use of about half a dozen car parks and the driveway that form part of the KFC premises until 2018, when Hungry Jacks' lease expires.
The KFC Mentone stands along the Nepean Highway and is the flagship store of Southern Restaurants which owns 50 KFC restaurants and 14 Pizza Huts in Australia.
Southern Restaurants has a brand new 10 year lease to 2023 with four further five year renewal options and has operated a KFC on the site for around 20 years.
The 258-square-metre restaurant stands on a 2,360 square metre site and was recently upgraded at a cost of $350,000.
Nearby is the Thrift Park Shopping Centre anchored by Woolworths Supermarket, which sold for $29.5 million in 2011.
The KFC premises were marketed by Jamie Perlinger and Billy Holderhead of Burgess Rawson.
Another KFC premises at Karingal near Frankston, also tenanted by Southern Restaurants, was passed-in at $2.95 million.
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Flagship KFC Mentone premises bought by Asian investor for $3.505 million 

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The premises of the Midas Car Care centre on Whitehorse Road in the affluent east Melbourne suburb of Balwyn have sold for $2.85 million at auction today.
The 240 square metre premises standing on an 836 square metre site at <a href="https://www.realcommercial.com.au/property-retail-vic-balwyn-500657503">267 Whitehorse Road</a> is leased to Midas on a 10 year lease expiring in August with no further terms of Lease renewal.
The property, which has 30 square metres of street frontage on the ‘homeward’ bound side of Whitehorse Road was marketed as an opportunity for an investor to either re-lease, occupy or redevelop.
Its net income was around $112,000 per annum. There were around four bidders.
The investor report notes that the landlord recently agreed to reduce the rent to $120,160 per annum due to a long-standing relationship with the tenant.
In the first year of the lease in 2003, Midas paid rent of $90,000.
The premises have been leased by Midas for over 20 years and include work bays, 12 on-site car spaces and paved hardstands and driveways. Midas have indicated a keenness to extend their lease according to auctioneer David Scholes.
The redevelopable land is zoned business 2 with the premises marketed by Billy Holderhead and Sam Newton of Burgess Rawson.
In August 2011, two retail shops set on a 400 square metre block of land on <a href="https://www.realcommercial.com.au/property-retail-vic-balwyn-5798564">Whitehorse Road sold</a> for $3.68 million on a yield of around 3.5% through Nick Peden of Savills.
Midas is an international automotive service chain headquartered in the US with over 80 shops in Australia.
Midas Australia was acquired by Lazard Limited’s private equity arm in 2008/09.
Other prominent retailers on Whitehorse Road include McDonalds, branches of the Commonwealth Bank and NAB, Woolworths and First Choice Liquor.
Balwyn is located within the city of Borondara, about 10 kilometres east of the CBD with a large, <a href="https://www.propertyobserver.com.au/victoria/balwyns-school-zone-continues-to-draw-asian-buyers/2013031158731">affluent Chinese population</a> attracted to the suburb due to it being in the Whitehorse school zone.
Balwyn is home to the Balwyn High School along with a dozen other secondary schools nearby, including Box Hill High and Canterbury Girls School.
It is home to 2,861 residents of Chinese descent, out of a population of 12,944, according to the 2011 census.
The median house price is $1,280,000 according to RP Data and there is ample public transport infrastructure, particularly trams.
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Midas premises on Whitehorse Road in Balwyn sells for $2.85 million

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The premises of an ANZ bank branch in the Victorian heritage country town of Korumburra in South East Gippsland has sold at auction today for $462,000.
It had pre-auction hopes of around $325,000 with bids starting $300,000.
There were around six bidders and the property sold on a yield of around 5.2%.
The bank premises, with a three year lease beginning January 2013, were marketed by Raoul Holderhead and Jamie Perlinger of Burgess Rawson.
Located at <a href="https://www.commercialrealestate.com.au/property/2010343234/for-sale/vic/korumburra/offices/retail" target="_blank">27 Commercial Street</a> – the main retail strip running through the town – the two-level brick building measuring 177 square metres brings in annual income of just under $25,000.
It is leased to ANZ for three years with renewal options and with fixed 3% annual rent increases.
It has seven metres of street frontage and includes an ATM in the lobby.
The building which has housed the bank for 25 years was recently upgraded at a cost of $230,000.
The most recent sale on Commercial Street was a <a href="https://www.realcommercial.com.au/property-retail-vic-korumburra-500361699" target="_blank">vacant shopfront</a> measuring 110 square metres, which sold for $159,000 plus GST through Alex Scott &amp; Staff - Korumburra. It had been listed at $180,000.
Korumburra, which dates back to the 1880s, is 120 kilometres south-east of Melbourne with a trade catchment population of around 6,000 people.
It is the base of the popular tourist railway South Gippsland Railway.
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ANZ bank premises in Korumburra sell for $462,000

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The capital city auction clearance rate was recorded at 62.6% last week, up from 58.7% over the Easter week.
Auction volumes rebounded from 547 the week prior to 1,280 last week. At the same time last year it was Easter, so auction volumes were low at 336 and the clearance rate was recorded at 42%.
There were 530 auctions held in Melbourne last week, up from 95 the week prior. Auction clearance rates were recorded at 63.5%, down from the exceptionally high clearance of 76.4% over the Easter week.
Across Sydney, there were 521 auctions held last week, up from 328 the week prior. Clearance rates in Sydney improved to 69.1% last week, up from 58.2% the week prior. Over the three weeks leading up to Easter, Sydney’s auction clearance rate was consistently above 67%.
Over the coming week, it is expected that a little under 1,300 auctions will be held across the capital city markets.
Click to enlarge
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Autumn auction listings step up again this weekend: RP Data

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I want to spend some time talking about how ‘the collision factor’ can applied to marketing, communications and in general to building business culture.
No, I am not talking about the collisions taking place in the Large Hadron Collider under the Swiss-French border, but about the value of unscripted collisions or interface between colleagues and with customers.
In January I spent some time talking about the many trends and benefits of digital and online <a href="?option=com_googlesearch_cse&amp;q=online%20marketing" target="_blank">marketing</a> and how this area continues to grow massively.
But I think that it is also equally important to retain and value the face-to-face contact that still, in my view underpins successful project marketing and further any sales path will not be successful without a high level of personal engagement between everyone involved.
While a great deal can be achieved in the digital world and many an email will flow during any sale, it’s relationships that count.
Even Yahoo needs the water cooler
Here’s just one example worth thinking about. In late February there was news that some even painted as treacherous when Yahoo CEO Marissa Mayer ordered that her employees work at the office instead of at home.
The question is: how is this related to my topic? And further: where is the relationship with creative marketing to be found? While some people suggest Mayer’s move was more to do with Yahoo’s troubled history, I still think there were a few basic points in Marissa Mayer’s move that are worth reflecting on.
Her mission at Yahoo has been about shaking up the status quo and so while I understand the objections that have followed, I think it is good to shake things about and this also applies to marketing, because we can all become overly comfortable or we can latch onto this or that idea as ‘the answer’.
And so while we are a long way from the problems that Mayer might be facing, the debate she has started is relevant.
From a big picture sense I agree that interactions among employees — the idea dropped at the water cooler, over a coffee, or even a remark as you wash your hands – can sometimes be worth a week of workshops.
I also think the same casual encounters with clients and customers can produce gems of feedback or good ideas. And if we reduce this sort of interaction we are all the poorer.
Collisions between people can also help grow and improve initial ideas so that they can morph into something else, something useful, and this process can be frustrated if caught up in a more formal process.
This is stuff that can’t be captured completely in email while a casual collision can be a refreshing experience, some good or even great ideas can’t be planned because we don’t know what direction creativity will take us, I think that we do better together in an open exchange and always will.
I also think that by being open to different ideas, in particular when we look for a creative idea it’s worth moving away from a form of template approach.
If creative leaders show up to argue their views across varied formats, and this will include digital, then they do a good job.
I have great respect for people who are able to generate new ideas but I also appreciate that being too prescriptive can mar the creativity that some projects desperately need.
While the digital world delivers great results I am willing to strongly suggest that projects, sales teams and marketing groups all need live bodies present and talking face-to-face so there is room for a collaborative approach that does not handicap the results that need to be secured.
From a general perspective I think that the Yahoo example is helpful when we are building teams that will look at what creative and all levels of communications need to achieve, and not concentrate on a particular look or channel of media.
Running into a buyer in the local supermarket or a sporting event who gives some ‘collision’ feedback might just be the idea you are looking for. The result or idea could well be a marketing gem and sales success and I am not that sure the same buyer would email any of us such feedback spontaneously.
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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