Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

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?

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The median house price in the remote Queensland regional town of Cloncurry rose 35% in the past 12 months. In the same period, the median house price in the upmarket Sydney suburbs of Double Bay fell 35%.
That is the black and white of property markets around Australia. In between, across the thousands of suburbs and towns in this country, have been many different shades of grey.
Some markets have boomed, some have grown moderately, some have stagnated, some have gone a little backwards and some have gone into reverse rapidly.
Those at the positive end of the growth scale are overwhelmingly in regional areas with some influence from the resources sector. Those at the negative end are mostly upmarket suburbs in capital cities.
The simple message in this? There’s no such animal as “the Australian property market”.
Next time you hear an analyst discussing what will happen in the Australian property market next year, you can assume you’re listening to a charlatan. There are surprisingly large numbers of them getting airplay.
People keep asking me what will happen next year in the property market, and I keep asking them which market they’re referring to. There are dozens of different answers I could give, depending on location and market segment.
 
<hr class="system-pagebreak">
 
The key to success in property investment in 2013 is understanding that there is not a single market out there. There are thousands of them. Next year, more than ever, the market will be highly segmented. There will be boom markets and there will be disasters, and numerous variations in between. Prosperity depends on distinguishing one from the other.
Given the record numbers of consumers who registered for the <a href="/news">webinar I conducted last week with Property Observer</a>, there’s a lot of interest in what might happen in real estate next year.
We’ve seen some recovery in capital city prices, we’ve seen an improvement in consumer sentiment and we’ve had a sixth interest rate cut. What are the prospects for next year?
Overall, many markets will be stronger in 2013 than this year. There is a gathering of indicators pointing in the right direction, including the number of new housing loans, the improvement in affordability, the rise in consumer confidence and the impact of interest rate reductions.
But there will not be a uniform movement in markets. Among the eight state and territory capitals, for example, I see strong upward trends for Perth and Darwin, solid increases for Sydney and Brisbane, moderate improvement in Adelaide, stagnation in Canberra and further decline in Melbourne and Hobart.
There will, of course, be variations within each of those cities, with some locations doing better than others, influenced by local factors such as new infrastructure and improved affordability.
Beyond Darwin and Perth, which are the standout contenders among the major cities, I see the best opportunities being found in the regions.
That was undoubtedly the case in 2012, and it will still be so in 2013.
Keep watching this space, as in coming weeks I will discuss some of the regional markets I see thriving in the 2013 economic environment.
Terry Ryder is the founder of <a target="_blank" rel="nofollow" href="https://www.hotspotting.com.au/">hotspotting.com.au</a> and can be <a target="_blank" rel="nofollow" href="https://www.twitter.com/hotspotting">followed on Twitter</a>.
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Best opportunities for property investors will be in regional areas with mining influence in 2013: Terry Ryder 

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Last week I highlighted how it is impossible to overlook the key influence of location in the project DNA of any development.
<a href="https://www.propertyobserver.com.au/developments/location-the-most-important-consideration-in-a-new-residential-development-peter-chittenden/2012120358265" target="_blank">Here in a recent conversation with one of my associates, Shane Dargue,</a> from Colliers International in Melbourne, we will explore this topic in greater detail. From the outset I think it is clear that taking a site to market is a complex subject. topics like planning and infrastructure are never out of sight.
Thinking of a location as a blank canvas immediately opens the way for creative thinking so that one day the final development will deliver the very best result, and this is, I think, the core challenge this subject will explore. Recently in both NSW and Victoria the major land delivery agencies have been facing evolving roles as a result of shifting market pressures and dynamics, and I think this further underlines how complex a market this is.
Where are the demand hotspots?
Starting our conversation, I firstly wanted to know from Shane his take on the current demand for residential development sites and then moving onto what he believes are the key marketing challenges for new medium and high-density sites.
“This a big topic, but there are some common factors across most markets. But firstly we need to step back a few years, just to get a common starting point.
“Until 2010 across almost all markets there was what I would without reservation describe as an environment of fever pitch activity, and in particular in Melbourne. Then over the past few years 2011-12 there has been a shift in demand for sites. We have come of the highs of 2010 but clearly sites are still being sold, still in demand.
“The dynamics have moved to where the development risk has taken on a different complexion, and as might be expected it is access to finance that has come into much sharper focus."
To better help overview market conditions Shane suggests that it is helpful to look at markets across three main sectors, all of which will be familiar.
“I think that it is both helpful and necessary to look at the market for new sites as they fit into three distinctive zones. While they will have common factors in any major metropolitan market, for ease of discussion let’s call the three main markets A, B and C.”
Within this definition suggested by Shane the zones cover: ‘A’ the core CBD, ‘B’ the inner ring of well-established suburbs and our final group ‘C’, which covers the outer ring of suburbs where the majority of broadacre and greenfield sites are located. All three markets have locations suitable for medium-density development but are very different with varied fortunes.
“The CBD in any market always has the highest site costs, and beyond that the entire cost structure implies a major investment in terms of finance, time and marketing, its often seen as the most speculative.
“Then we have the inner ring of suburbs ‘B’ which is the more diverse and flexible of the three markets and in the case of Melbourne, because of Melbourne’s grid layout, it’s a rich source of sites.
“Finally we have the outer ring locations ‘C’, which includes greenfield sites, some locations are self-contained medium-density sites, which are usually in the more established areas while other are a part of a master-planned community estate. This is a market dominated by individual homes and is very cost driven, price and supply sensitive but still there are valuable medium-density sites.
"Demand for the outer ring this market has softened the most over the past 24 months and in particular over the past 12 months, partly as direct result of many more new homes coming into play as supply across Melbourne has increased."
 
<hr class="system-pagebreak">
The layers of interconnection
The outer-ring sites are the most price driven and so rely to a greater extent upon the growth of house prices and sales rates, in particular across the inner-ring suburbs and across the wider housing market generally but also to a lesser extent in the CBD. And so in this way the outer limits of the market reflect the wider health of the economy and so to varied degrees all of the markets are interrelated.
“If the economy is weak then people will tend to stay put in established homes, and at the pointy end of rental demand the CBD rental market can be impacted if unemployment becomes an issue, which then has a flow onto investor take-up.
“Also in the outer ring I have to acknowledge that the demand for sites is limited to some degree because this is also an area where medium density is a secondary market for buyers. Still for some budget driven buyers a townhouse in these areas is an appealing option, and profitable for the developer looking to defray site costs."
While the demand for outer ring sites has declined over the past two years, it has been the more stable buyer profiles for end-product in the CBD and inner-ring locations that has helped to create continued interest in sites.
“CBD and inner-ring development sites offer diverse locations and infill sites in particular have many positive traits. And that includes access to existing infrastructure that can be very diverse with a depth of social appeal, Footscray in Melbourne is an example I mention now and will return to later."
The pressure of finance a important influence
Shane rightly points out the reality that some or indeed most banks are now applying pressure when dealing with their development clients. But Shane also highlights that there have not been very many forced sales of development sites and prices for end product have been stable within areas of logical and typical development supply.
“The role of finance post GFC is now more magnified, and the IMF has also highlighted how much exposure the 4 major banks have tied up in residential mortgages and so caution is the order of the day.
“When we look at individual greenfield sites they have either been shelved because the capital tied up is less or their raw land values have decreased substantially where the rates of sales have slowed most. There is also usually little speculative building and better return on capital performance, which can be in stark contrast to the level of exposure associated with a medium or high density project.
“However, despite the financial pressures demand is currently strongest across the inner ring suburbs, these same areas are also very popular with end-buyers where owner occupiers dominate demand, but investors are also active. In the CBD there tends to be a bigger percentage of investors and in many cases an off-shore buyer with a long-term view of the market, which then helps underpin the demand for quality development sites.
We did highlight earlier that in the CBD the investment required for a major project outweighed the costs associated with other locations. The dynamics are very different attracting the bulk of high-end professional development, and for other developers this fact then shifts their focus to the inner ring suburbs.
“The inner ring locations are very popular and there is a pool of local developers keen on these sites. And so demand is mixed and there are more players looking for opportunities. While finance is still an issue we are dealing with local developers who know the market and work within a comfortable level of risk and capital/development."
At this stage of our topic it is the various risk profiles that have the most impact on the demand for sites. The risk profiles are also very dynamic across all three markets, still there are many other influences to take into consideration, which we will continue to explore and welcome your thoughts.
 
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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What is the best location for a residential development?

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Congratulations to Rainbow in Melbourne and Davidk9 in Sydney, who have taken out the title of Property Tycoon for spring 2012. A $1,000 Christmas bonus is on its way!
There’s a website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a rel="nofollow" target="_blank" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" style="font-size: 14px;">Property Observer readers had their own competition</a><a rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition won $1,000.
Carlyonc and RFM were the best-performing Tycoons in the final round and win the movie tickets.

A huge crowd crammed into the backyard of 14 Jessamine Avenue, <a target="_blank" href="/news">Prahran</a> (pictured below), on Saturday to watch a very quick auction. While there is no doubt there were more people who had an interest in the property, it was left to only two bidders to fight it out.
<img src="/images/stories/2012/12/jessamin.jpg">
The auction consisted of a flurry of $50,000 bids before a $2.4 million bid was referred to the vendor and the property was declared on the market.  After this announcement another burst of bidding took the price to $2.7 million before the property was knocked down.

You can watch the auction highlights on our <a target="_blank" href="https://propertytycoon.cmail5.com/t/r-l-uyljuud-etrwtikd-y/">Facebook</a> page.

It was a different story in Sydney where 1/64 Ocean Street, <a target="_blank" href="/news">Woollahra</a> (pictured below), failed to gain any real traction. Although there were interested parties in the crowd there was no sense of urgency as bidding was lacklustre. The property finally passed in to a legitimate bidder for $1,475,000.
<img src="/images/stories/2012/12/oceanst.jpg">
Since the conclusion of the auction agent Peter Starr has had interest slightly above $1.5 million, and the property is expected to sell in the coming days.

Thanks to everyone who played Property Tycoon this season. We will be back bigger and better in February 2013. Merry Christmas to all.

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marmstrong-sd3emVLPPb

Quick Prahran auction and lacklustre bidding in Woollahra round out 2012 auction tipping competition

<html><body>Australian Property Monitors (APM) has released a list of results from 459 auctions in Sydney for the weekend of December 8. The clearance rate was 61.7%. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

po-LsXgBTHBmX

APM's 459  Sydney auction results show 61.7% clearance rate

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Eight regional centres scattered across NSW, Victora, Queensland and WA – not all of them tied to the mining boom – will present property investors with the best opportunities for capital growth in 2013, according hotspotting.com.au’s Terry Ryder.
In a <a href="/news">Property Observer</a><a href="/news"> webinar</a>, Ryder said the growth seen over 2012 had been “primarily seen in the regions” with some “good growth” in Darwin and “to a lesser extent” in Perth.
“But the places producing double digit growth are all in the regions,” he says.
Regional locations, Ryder says, give investors the opportunity to buy at more affordable prices and have very good prospects for growth, “as long as you pick the right ones”.
According to Ryder, these are the eight regional locations investors should take a look at:
<a href="/news">Albury </a>/<a href="/news">Wodonga </a>(NSW/Victoria) <img src="/images/stories/2012/12/ryderslide1.jpg">
 
<hr class="system-pagebreak">
 
 
<a href="/news">Dubbo </a>(NSW)
<img src="/images/stories/2012/12/ryderslide2.jpg">
 
<hr class="system-pagebreak">
 
<a href="/news">Toowoomba </a>(Queensland)
<img src="/images/stories/2012/12/ryderslide3.jpg">
 
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<a href="/news">Mount Isa</a> (Queensland)
<img src="/images/stories/2012/12/ryderslide4.jpg">
 
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<a href="/news">Bendigo </a>(Victoria)
 
<img src="/images/stories/2012/12/ryderslide5.jpg">
 
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<a href="/news">Mudgee </a>(NSW)
 
<img src="/images/stories/2012/12/ryderslide6.jpg">
 
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<a href="/news">Mackay </a>(Queensland)
 
<img src="/images/stories/2012/12/ryderslide7.jpg">
 
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<a href="/news">Geraldton </a>(WA)
 
<img src="/images/stories/2012/12/ryderslide9.jpg">
Click on the following pages for details on each location. The entire webinar can be listened on  <a href="/news">Property Observer.</a>
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lschlesinger-FZcF9M3vE6

Terry Ryder's eight regional hotspots for 2013: The key webinar slides

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During the week I received scores of emails from cash investors who are either retired or are on the verge of it and are alarmed at the direction of official interest rates, which hit 3% last week.
These people are alarmed because with inflation at 2% (and core inflation at 2.8%) and the average cash yield from banks at 3.5% (soon to be lower), their investments aren’t earning much more than the cost of living.
A lot of these people have retreated from shares due to their volatility but now find themselves relying on either money in transaction accounts or term deposits.
In the latest Australian Taxation Office breakdown of the investments in self-managed superannuation funds, the largest asset class is “cash and term deposits”, at 30.7%.
The retreat from shares into government-guaranteed cash has made people feel safe in the short term, but now also vulnerable.
So what to do? Here are some thoughts:
1. Transaction accounts, cash management accounts, term deposits and accelerated savings accounts are all capital guaranteed by the government up to $250,000 per person. They are all zero risk.
2. You can find a better yield than a transaction account’s 0% without taking on more risk. I’m sure that the institution you save with has another product that rewards savers by paying them up to 4%, and it also has term deposits that pay more than that.
3. You can diversify your investments within capital-guaranteed investments; you don’t need all your cash in one account. Why not have a lump of funds constantly being rolled over in 90-day term deposits, and some others in one-year TDs? Then have a large amount of your savings in a high-yield online savings account, and have the interest paid into your transaction account.
4. Don’t forget bonds. Typically they come in the form of government bonds, corporate bonds, bank bonds and bank covered bonds. Many bonds are low-risk debt products that yield good returns, and retail investors can invest in them, usually in a retail fund environment. Some of these funds have been returning as high as 7-8%t p.a. to their investors.
5. Get advice. From what I am seeing, cash investors are staying away from advisers or they’re unhappy with the amount of interest shown in cash investors by advisers. I suggest that instead of dropping out of financial advice altogether, you search for a planner with an interest in cash investment strategies and then adopt a more active approach. Don’t make cash a ‘set-and-forget’ option.
If you look at all of the cash and bond options, your available yields move from 0% to 8% p.a.
As interest rates move down, your job is to find more yield with little risk. I’ll be interested to see how you go. <a target="_blank" href="mailto:mark@ybr.com.au">Send me an email</a>.
Mark Bouris is executive chairman of <a target="_blank" rel="nofollow" href="https://www.ybr.com.au/">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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mbouris-tauSvXGAM2

Five tips to increasing your savings in a low-interest-rate environment

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This Saturday will be the final round of Property Tycoon for 2012, and we have some belting properties going under the hammer.
There’s a website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a rel="nofollow" target="_blank" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" style="font-size: 14px;">Property Observer readers have their own competition, which you can access here</a><a rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition will win $1,000.
Dean Gilbert from Marshall White will have a big auction on his hands when he calls for bids at 14 Jessamine Avenue, <a href="/news">Prahran</a> (pictured below).
<img src="/images/stories/2012/12/jessamin.jpg">
Winton was built in 1929 and lies in one of Prahran's most tightly held heritage-listed leafy pockets, only metres from Lumley Gardens and High Street's cafes and shops. The totally captivating solid-brick English-style residence sits on almost 800 square metres of land and is surrounded by spectacular botanic garden setting.
Many buyers will want this one, but they will need more than $2 million up their sleeves to secure it.
In Sydney it will be the receivers from Ferrier Hodgson that will be calling the shots at the auction of 1/64 Ocean, <a target="_blank" href="/news">Woollahrra</a>.
The townhouse is located in one of Woollahra’s premier tree-lined streets opposite Chiswick Park. In a block of only four, the property has three bedrooms and comes with the all-important basement lock-up garage.
<img src="/images/stories/2012/12/oceanst.jpg">
Downsizing baby boomers are expected to be out in force. Peter Starr from McGrath Real Estate says the expectations of the receivers are closely aligned with where he believes the market value lies. He is confident this one will sell under the hammer in excess of $1.5 million.
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A tightly held heritage Prahran property and a Woollahra receivership sale end auction tipping competition season

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13/26 Bayshore Drive Byron Bay, NSW, 2481 <img width="470" src="/images/stories/2012/12/bayshore.jpg">
Just one kilometre from the beach, this single-level, two-bedroom villa is currently tenanted at $380 per week. It includes a single lock-up garage, and listing agent Brett Connable of Ray White says it presents a "great investment opportunity".
Connable <a target="_blank" href="https://myproperty.raywhite.com/PropertyDetails.aspx?id=869488">is marketing the property </a>with price hopes of $329,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 6% at its current rent, above the gross rental yield for Byron Bay units of 5.3%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $8,000 and over five years to be $29,000.
The median unit price in Byron Bay fell 20.7% in the past year but rose 11.4% in the past five years, according to RP Data.
For more information about prices and yields in <a target="_blank" href="/news">Byron Bay, see the RP Data suburb page.</a>
The property will go to auction Saturday, December 8 at 10am.
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Friday form guide: Yields of up to 6% in Byron Bay

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Malaysian developer Mammoth Empire has secured a prime development opportunity in the northern fringe of Melbourne’s central business district, opposite a 55-storey residential tower it already has under construction.
The current low-rise 398-406 Elizabeth Street site was acquired from a Melbourne family for $15.1 million.
The 1,029-square-metre site on the corner of A’Beckett and Elizabeth streets is on the adjoining corner where the $250 million MY80 tower is under construction.
<img src="/images/stories/2012/12/my80.jpg">
MY80 is a 55-level glass tower on the corner of Elizabeth and A'Beckett streets with plans for the architecturally striking, 173-metre high rise to have a private rooftop nightclub-bar and lounge on its 53rd floor (artist's impression above). Retail tenants in the single-storey building latest acquisition are delivering a low passing yield of a little less than 2%, hence the site was offered by CBRE agents Mark Wizel and Josh as one for residential redevelopment. Its sale price was one of the highest per square metre prices for CBD land in the past year.
Over the past few years, Malaysian, Singaporean and Chinese-based developers have snapped up $385 million of prime CBD residential sites in the Victorian capital, with sites including the Fulton Lane project, where Malaysian developer SP Setia is building 800 apartments at 151 Franklin Street.
Last month a Malaysian investor purchased the CBD corner occupied for 57 years by the clothes manufacturer and retailer Fletcher Jones.
The 1 Queen Street asset – a double-storey showroom on a 746-square-metre block at the north-west corner of Flinders Street – sold for $11 million to an investor who is expected to lease the existing asset but resell after a redevelopment permit has been obtained.
The Queen Street sale price reflected a land rate per square metre of $14,745 was pushed up by residential developers, in the mix of 11 that submitted formal offers for the property to Savills.
“We are fielding continued interest from offshore developers wanting to acquire large development sites in the Melbourne CBD,” Wizel says.
“Interest from publicly listed Malaysian development companies remains particularly strong, with active mainland Chinese developers not far behind.”
The property services company PDS Group, which is co-ordinating the MY80 project, also negotiated the latest deal for Mammoth, which was attracted by the precinct close to Melbourne’s universities.
At 206 A'Beckett Street, the Malaysian developer recently completed its 25-level high rise with 280 apartments, with the name Pegasus Apartment/Hotel.
It was never marketed for sale in Australia when the off-the-plan sales took place at the time when federal government foreign ownership legislation  by the Labor government allowed 100% ownership by offshore interests in new residential projects.
The site was the former car dealership, near Flagstaff Gardens.
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Malaysia-based Mammoth Empire the latest Asian developer to take another piece of Melbourne residential development pie 

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Melbourne estate agents are holding twilight auctions this December in a bid to get through their freshest 11th-hour listings.
Their Saturday schedules are already full over the two remaining sales weekends before Christmas.
So the Noel Jones agency has twilight auction offerings.
There's an ultra-modern <a href="https://www.noeljones.com.au/property-details/4727727/" target="_blank">North Melbourne property </a>(pictured below) listed for December 20 private twilight auction.
<img src="/images/stories/2012/12/leveson.jpg">
It's got a very dark charcoal facade to boot. It has three first-floor bedrooms, a fully fitted 3D home theatre, a pool featuring Bisazza mosaic tiles and four-car garage. There's a huge bluestone paved rooftop.
The agency also has a Malvern East house listed the same night for twilight auction with $800,000-plus hopes.
<img src="/images/stories/2012/12/theridge.jpg" width="470">
Saturday, December 15 will be Jellis Craig’s last auction day before Christmas, but the agency has a number of mid-week twilight offerings, including a 1920s Canterbury house scheduled for December 20 auction through agent Geordie Dixon. The property at<a target="_blank" href="https://www.jelliscraig.com.au/property/CANTERBURY-8-The-Ridge/4733503/#.UL_GRuScd8E"> 8 The Ridge, Canterbury</a> (pictured above), will be put to 7pm auction. Jellis Craig agent Charles Boyd puts a 1940s Malvern East house, <a target="_blank" href="https://www.jelliscraig.com.au/property/MALVERN-EAST-75-Bowen-Street/4736799/">75 Bowen Street</a>, to auction at 6.30 on December 19.
<img width="470" src="/images/stories/2012/12/bowen.jpg">
At Mill Park, Ray White agents Lisa Reginato and Daniel Nardella have a <a href="https://raywhitemillpark.com.au/vic/mill-park/885189/" target="_blank">four-bedroom contemporary house with turret </a>(pictured below)listed for December 20 twilight auction.
<img width="470" src="/images/stories/2012/12/randell.jpg">
Tonight a builder's home in Doncaster East (pictured below) goes to twilight auction through Ray White Manningham agent Carmen Stenta. Its marketing material includes<a href="https://raywhitemanningham.com.au/vic/doncaster-east/871698/" target="_blank"> twilight imagery</a> since it's obviously a selling point.
<img width="470" src="/images/stories/2012/12/tusanne.jpg">
Only the bravest of vendors will auction Saturday, December 22.
But Hocking Stuart is trying to get buyers to turn up at an auction of a two-bedroom Preston apartment.
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