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>

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Ellen Walker

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

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Nearly a third (31%) of Australian households would consider re-locating to another state for financial benefit with Queensland the preferred destination, according to the latest ING Direct Financial Wellbeing Index.
Across households that would consider relocating interstate, Queensland (46%) is the most popular destination ahead of both NSW and Victoria (40%) followed by WA (31%) and South Australia (31%).
These responses tie with interstate migration forecasts from BIS Shrapnel, which anticipate a big rise in Queensland from 31,300 interstate migrants in 2011 rising to 41,900 in 2012, 49,700 in 2013, 54,300 in 2014 and 58,200 in 2015.
BIS Shrapnel also forecasts interstate migration to rise in NSW from 50,200 in 2011 to reach 71,500 by 2015 while WA numbers will rise from 30,800 to 53,600 over the same time period. More modest gains are expected in Victoria rising from 45,700 interstate migrants to 57,200 by 2015.
Interstate, along with overseas migration, is a key driver of demand for housing.
According to BIS Shrapnel, relative housing affordability and economic conditions are the main reasons people move states.
Among the smaller states and territories, the ING Direct report found that more people would consider relocating to Tasmania (22%) and the ACT (20%) than the Northern Territory (16%) – perhaps put off by surging house prices in Darwin and a lack of rental accommodation, as much by its remoteness.
The results are based on the online responses of 1,024 households between September 26 and October 3 carried out by Galaxy Research for ING Direct – households could pick multiple interstate migration options.
Digging down into the responses, they reveal that more than half of Victorians and those from NSW considering relocating would choose to move to Queensland.
Nearly two-thirds (62%) of Queenslanders pick NSW as their preferred relocation destination.
However, nearly one in two (47%) households from WA would move to Victoria for financial benefit.
The overall results of the survey were that household finances are in good shape with the Financial Wellbeing Index rising to 109.0 in the third quarter of 2012, up from 105.6 in the previous quarter and on par with the highest ever index score recorded in the second quarter of 2010, when ING Direct kicked off the index.
It also found that households are more comfortable with their mortgage than any other aspect of personal finances, with almost one in two (47%) of those households with a mortgage ahead with their loan repayments.
Median household savings across the country is $9,735.
Only 6% of households say income is insufficient to pay immediate bills.
“Australian households are continuing to adopt cautious money management with a focus on reducing household debt,” says ING Direct.
“As a result almost nine out of ten (88%) are comfortable with credit card debt, and 93% are comfortable with their home loan."
“Households are saving more and reducing debt which is leading to greater confidence,” says Vaughn Richtor, CEO of ING Direct.
“It is a good sign that confidence is on the way up with financial wellbeing reaching a 2-year high.”
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Queensland the top destination for those prepared to “pull up stumps”: ING Direct

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A Balmain East home going to auction this week could demonstrate the dangers of overcapitalising.
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.
<img src="/images/stories/2012/10/darlingst.jpg">
Since they purchased it in 2006 for $1.4 million, the new owners have “gone to town” on the renovation for <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-balmain+east-111628587">110 Darling Street, Balmain East</a> (pictured above). Top-of-the range finishes and a view of the harbour cap off this stunning five-bedroom home.
The question for tycoons is: has the owner over capitalised? When owners spend a lot of money renovating a property their valuation can be out of whack with the wider market.
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Sydney auction tipping: Stunning renovated home in Balmain East

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The significant amount of interest in a Mount Waverley property has encouraged its agent to lift his price expectations. 
There’s a website, <a href="https://www.propertytycoon.com.au/" target="_blank">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 style="font-size: 14px;" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" target="_blank" rel="nofollow">Property Observer readers have their own competition, which you can access here</a><a href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" rel="nofollow">.</a> The winner of the overall competition will win $1,000.
When an agent lifts the quote through a campaign that is a clear sign he or she has a lot of interest in the property. During early stages of the advertising for 15 Bond Street, <a href="/news">Mount Waverley</a>, it was expected to achieve a sale of between $900,000 and $1 million.
<img src="/images/stories/2012/10/bondst.jpg">
However, this is a unique property that backs onto Valley Reserve, and it has attracted a significant amount of interest, with more than 75 groups inspecting the property. Agent Cedric Newbond from Hocking Stuart has indicated interest is now above $1million. As a result he has revised the quote range to $1 million to $1.1 million.
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Melbourne auction tipping: Unique Mount Waverley property with upwardly revised price hopes

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Rents rise first and prices follow. 
That simple formula provides a clue to investors in choosing where to buy property for future growth. 
Anyone following that recipe a year or so ago would have had solid capital gains in Gladstone and Mackay in Queensland. 
We’ve seen it start to happen in Darwin as well. 
The locations now poised to follow suit include Perth and Townsville. 
Some 18 months ago I was scratching my head wondering why there had been little in the way of price growth in the nation’s number-one boom town, Gladstone. 
Gas projects and other enterprises were bringing thousands of new workers into the place, and everything that mattered was in short supply – but the only reaction from the property market had been a massive hike in residential rents. 
Then, almost belatedly, prices followed the rental trend. In the past 12 months, the median price in most Gladstone suburbs rose 17-18%. Mackay is a little behind Gladstone in the cycle but is now exhibiting similar patterns. 
Darwin has been leading the state and territory capital cities on price movements, by a considerable margin. It, too, experienced big lifts in rental levels before prices started to follow. 
Australian Property Monitors records a 27% lift in Darwin’s median house rent in the year to June, with the median weekly asking rent for apartments rising 15%. In the September quarter, Darwin recorded the biggest increase in home values among the capital cities. 
Perth is set to follow this trend. It’s had a 15% rise in its median house rent in the past 12 months, according to Australian Property Monitors. The median rent for apartments has climbed 11%. 
Perth prices so far have moved little, but that is soon to change. Strong demand for accommodation has led to a 0.5% vacancy rate, according to the latest figures from SQM Research, and WA housing finance commitments by owner-occupiers are up 18% in the 12 months to the end of August (the biggest jump in the nation). Loans to investors have risen solidly, as well. 


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WA has the nation’s strongest economy and leads on population and employment growth. The projects that really matter in the WA resources sector – the mega gas projects, not the iron ore ones – are now starting to crank up their construction phases.
 Against that background, price growth is inevitable in Perth, particularly with rents strongly leading the way. 
Townsville is another significant market where rents have been pressured by high demand, but prices remain in the doldrums. 
That will change. Townsville gets my vote as the strongest regional economy in Australia, with not only diversity but considerable muscle in all its multi-faceted economic sectors. It’s a city that doesn’t need the resources sector, but gets considerable oomph from it anyway. 
Queensland is Australia’s most decentralised state, with numerous strong regional centres, but Townsville is undoubtedly king of the regions. Despite being impacted by the state government’s manic cost-cutting, job-shedding and plot-losing, Townsville is experiencing expansion in many other key sectors, particularly its already-substantial military economy. 
Its spinoffs from the resources sector include an expanding port, processing facilities and lots of fly-in fly-out workers who reside in Townsville. 
People want rentals in Townsville but can’t get them. Prices will react sooner or later.
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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Rent rises today mean capital growth tomorrow for next property hotspots:Terry Ryder

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Auction clearance rates across the combined capital cities fell slightly over the week to 55.4%, compared with 56% the previous week. There were 1,494 auctions held across the capitals last week, which was up from 1,344 over the previous week. In comparison to last year, clearance rates continue to track much higher. The current clearance rate is almost 10 percentage points up on the clearance rate of 45.5% recorded over the same week in 2011.
Across Australia’s largest auction market, Melbourne, clearance rates were down from 60.9% the previous week to 57.5% last week. Auction volumes, on the other hand, increased across the city, with 686 auctions held last week, compared with 567 the week prior.
In Sydney, clearance rates improved over the week from 57.8% the previous week to 61% last week. Auction volumes remained relatively steady, with 536 auctions held in Sydney last week, up only slightly from 519 the week prior.
It is expected that there will be almost 1,600 auctions held across the capital cities next week.
Click to enlarge
<a href="/images/stories/2012/10/rpoct18.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/10/rpoct18thumb.gif"></a>
Source:<a target="_blank" href="https://www.myrp.com.au/"> RP Data</a>
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Melbourne set for about 750 auctions as auction clearances fall slightly: RP Data

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Sentiment in the property industry has dropped in resource states and picked up in the others, according to ANZ’s latest industry confidence survey.
Sentiment fell across the country for the second consecutive quarter from 106 points to 102 for the December quarter, though ACT, Victoria, NSW and Tasmania have improved, according to the latest Property Council of Australia-ANZ property industry confidence survey.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/10/pcaoct18.gif" rel="shadowbox"><img src="/images/stories/2012/10/pcaoct18thumb.gif"></a>
The survey polled more than 3,500 property and construction professionals from all states and territories for their forward-looking views.
The survey found the biggest mining states suffered the biggest declines, with NT, Queensland and WA posting the largest falls in sentiment.
NT dropped from 151 to 130 on the index, Queensland dropped from 113 to 96 and WA dropped from 136 to 120, with SA also declining slightly.
Queensland was the only state to shift from positive to negative sentiment over the quarter.
Despite falling confidence in resource states, the survey found most respondents did not think the mining boom was over.
Some 68% of respondents did not think the mining boom was over, and 27% believed their business’ performance would be reliant on the mining sector.
 
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The survey found expectations for forward work have increased in Victoria and NSW, with respondents there having more faith in their own states than in the national economy.
The outlook for office space and retail sales in NSW and Victoria has also improved.
The survey found sentiment in the residential market has risen from 93 to 101, the first time in the survey’s five quarter history the sentiment has been positive. Sentiment for residential capital values rose in all states and territories, except for NT. It found housing construction expectations have also risen.
Confidence in funding projects has improved according to the survey, though staffing level expectations have fallen from 104 to 102 on the index.
The office market had the strongest investment potential over the next 12 months according to respondents, followed up residential, industrial, retirement living, shopping centres and then leisure/hotel/tourism property.
Property Council chief executive Peter Verwer says Australia’s largest property markets – NSW and Victoria – showed some encouraging signs.
“Respondents in these states have more faith in their local economy than the national economy, and expectations for forward work have improved,” Verwer says.
“Furthermore, although sentiment for debt funding availability is still negative, the shift in outlook here bodes well for future development.”
ANZ chief economist Warren Hogan says the survey shows a net balance of 13% of respondents believe economic growth will weaken over the next 12 months, up from 9% last quarter.
“We expect economic activity will remain relatively soft in the short term as Australia transitions to slower real income growth, with the terms of trade returning to pre-crisis levels,” Hogan says.
“Nonetheless, the medium term domestic economic outlook remains solid and will continue to be underpinned by strong growth in business investment.”
Hogan says though house prices remain soft in most Australian capital cities, prices have shown tentative signs of reaching a floor following recent RBA rate cuts.
“May and June RBA rate cuts are expected to be further supported by the October rate cut,” Hogan says.
“Residential auction activity has increased and auction clearance rates are at the highest level since 2010.”
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Property industry confidence down in mining boom states but up in non-resource states: PCA-ANZ

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Conditions remained tough for residential home builders in the June quarter, according to the latest ABS data.
New house commencements fell 0.6%, to $5.63 billion, and new other residential building (apartments) rose 22.1% to $3.37 billion with total residential building work declining for the fifth consecutive quarter by 3.1% compared with the 2.5% decline originally reported in August.
Alterations and additions fell 3.9% to $1.64 billion.
Non-residential work commenced fell 22.1%, to $6.76 billion.
Of the major state housing markets, WA recorded the biggest decline in new residential building work done of 13.2% followed by South Australia (-5.7%), Victoria (-5%) and NSW (-3.4%).
The value of residential work done in Queensland rose 7.4% to $1.8 billion.
In aggregate, commencements of new residential buildings rose 6.8% to $9 billion while total new building starts (residential and non-residential) fell 7.5% to $17.4 billion following rise of 4.1% in March 2012.
A pick-up in new residential building activity in NSW and Queensland is anticipated following the doubling of state grants for first-home buyers buying a new property.
The Housing Industry Association (HIA) said the ABS figures show that  in mid 2012 residential construction activity was even weaker than first reported.
HIA chief economist, Harley Dale, said that a fifth consectutive decline in residential building work done in the June 2012 quarter was steeper than initially thought and confirmed an ten year low for new home building activity.
“Interest rate cuts are helpful in hopefully turning around residential construction from the parlous state evident in mid 2012. However, the efficacy of easier monetary policy is considerably diluted by the historically high and excessive margin between the official cash rate on the one hand and mortgage and business loan rates on the other,” said Harley Dale. “Federal and state governments need to view today’s update on Australia’s residential construction industry as a signal they are failing to adequately invest in and reform new housing supply.
“Today’s update makes a mockery of recent scuttlebutt suggesting negative gearing arrangements need to be diluted or removed," says Dale.
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New home building flat in June quarter: ABS

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A local investor has acquired the warehouse premises of Classic Picture Framers in Clayton for $515,000, equating to yield of around 7%, in a private sale.
<img src="/images/stories/2012/10/classicframers.jpg">
The price is exclusive of GST.
Classic Picture Framers has a long-term lease on the property, which is situated at 49 Sarton Road in Melbourne's outer south-east.
It was marketed and sold by Ryan Amler of Ray White Commercial Oakleigh, who said he fielded over 25 enquiries about the property before completing the sale to the local investor.
RP Data records show the warehouse took just 32 days to sell, having been marketed at $540,000 plus GST.
 
“The property currently returns approximately $36,000 per annum, plus GST and outgoings, so the fact it had a long-established tenancy agreement that delivers a consistent and healthy yield meant interest would be high," says Amler.
The warehouse measures 450 square metres with a total land area of approximately 712 square metres.
“The size of the complex is advantageous, and the on-site parking and terrific street frontage to busy Sarton Road make it a prime location for a number of commercial uses,” says Amler.
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Investor picks up outer-Melbourne warehouse for $515,000 on 7% yield

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A Singapore developer has been called “a bit cheeky” and "a little bit arrogant" by Melbourne lord mayor Robert Doyle for selling apartments in proposed CBD skyscraper Melbourne Tower to Asian investors, despite not yet receiving planning approval from Victorian Planning Minister Matthew Guy.
CEL Australia, a subsidiary of Singapore-based developer Chip Eng Seng Corporation, is still awaiting a permit to build the 68-storey, 220-metre tower on the corner of Queen and Bourke streets.
Sydney developers have a greater reputation for the pre-approval sale practice, with half of the <a href="https://www.propertyobserver.com.au/developments/edwin-davey-flour-mill-rises-again-as-harbour-mill-as-investors-rush-to-secure-stamp-duty-exempted-units/2012052954887" target="_blank">apartments in the Ceerose's Harbour Mill </a>selling ahead of an expected approval in May. But NSW has a staged development process, and developers have pre-sold apartments with a fair degree of confidence of having the project approved.
Observers have noted that a 68-storey tower in the heart of the Melbourne CBD is another matter entirely.
The planning permit for the Melbourne Tower application features 581 apartments, 12 storeys of office space as well as retail and food services on the lower levels.
The skyscraper has been designed by local architects Elenberg Fraser, featuring thin undulating glass construction and would be just shorter than the iconic blue glass Rialto Tower, which rises to 250 metres at the Southern Cross station end of Collins Steet. The Eureka Tower on South Bank is Melbourne's tallest tower, rising to 297 metres.
<img style="margin: 5px; float: left;" src="/images/stories/2012/10/melbournetower1.jpg">
According to Fairfax, the apartments in the building are being “heavily marketed to Asian investors, particularly a newly wealthy generation of Chinese entrepreneurs and business people”.
The application for Melbourne Tower was submitted on March 29 and is currently listed as “under assessment”.
The site at 150 Queen Street currently houses the 1960s-built 14-level office building known as the Prudential Building, which was purchased for $25.5 million in September last year following a joint Savills and Colliers International campaign. It was sold by Charter Hall, which bought it for $32 million in September 2007, just before the commercial property market peaked.
Its development is opposed by the Melbourne City Council, with Doyle, currently in an election battle, labelling it “too big”.
“In the core of our city we do have tall buildings, but we don’t want canyons, and we need to think about the culture of the city.
“At the footpath level it needs to be something that is active and adds to culture of Melbourne,” he told the Ten Network.
Doyle called the move to sell apartments prior to approval as “not only a bit cheeky” but also "a little bit arrogant" though there is nothing illegal about doing it either in Singapore or Melbourne.
“I understand this is still at [Victorian planning] minister [Matthew Guy’s] desk.
“He has not said yes or no.” If Guy does say yes, Doyle said he could not fight the decision, as it is a ministerial decision.
Guy himself has also labelled the move to sell apartments in Melbourne Tower as "very cheeky".
''And that's very much an understatement – of someone to be selling off the plan to people on a tower that isn't approved," Guy told ABC Radio.
In a statement, CEL Australia said it has been “cooperating with the Department of Planning and Community Development in relation to the development approval for Tower Melbourne”.
CEL Australia corrected an earlier media release, which said it was co-operating directly with the minister's office.
Doyle says high-rise buildings need “human scale”.
“When you get mega-buildings you have to look at the context as a whole."
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Singapore developer 'cheeky' for selling unapproved Melbourne CBD high-rise project off the plan: Lord mayor

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In my recent conversation with Mark Percy, executive manager of residential of Cbus Property, we explored some of the main issues confronting our sector. I was also very pleased to hear Mark express some refreshing thoughts across a range of ongoing topics impacting the housing market, as well as some timely points directly related to project marketing. By way of a preamble we firstly touched upon the positive impact of working for a subsidiary of a wholly owned superannuation fund, including its role in supporting building and construction employment.
These topics included Mark’s views on housing affordability, the impact of local and regional planning laws and how he sees the two points as very much intertwined. We also went on the talk about other diverse subjects such as delivering quality projects and good design alongside the need for Cbus Property to take an active and leading development role, not simply acting as a passive funding partner.
In our conversation we also looked at marketing and the all-pervading role of finance, which now, post-GFC, intrudes into almost any property-related topic, from personal mortgages to corporate and development funding to marketing.
The Cbus Property brand
Cbus Property brand is very visible within the development industry, and it is well worth recounting that the company has been successful, not only in terms of completed projects, but also the investment returns for Cbus Property’s parent, Cbus, the industry superannuation fund for the construction, building, infrastructure and allied industries. According to SuperRatings’ fund crediting rate survey, Cbus generally rates above average.
As a wholly owned subsidiary, Cbus Property works very closely with Cbus. Each company has a separate board. The super fund is one of the best performing in the industry, showing how a development, funding and labour model can and does work. This is a view that is clearly backed by concrete results.
“Helping to create employment, by creating jobs, has many benefits, and I am always reassured by the positive feedback I experience when I visit one of our development projects. The workers on-site obviously appreciate Cbus investing back into the industry through Cbus Property,” says Mark.
Cbus was formed in 1984, and currently has 675,000 members with $19 billion under management, of which $1.5 billion is invested within the activities of Cbus Property.
Given its scope and size, just how does Cbus Property work? As might be expected there is no particular magic formula. Cbus Property looks for development opportunities, both commercial and residential, but as already mentioned, one core objective is to help drive employment in the construction industry.
Cbus Property does not buy passive assets and has been operating as a high-profile developer since 2003 and operates a small and highly skilled management group. Mark brings in excess of 35 years of experience to his role.
Today Cbus Property has a range of projects underway with office projects and four residential developments in Sydney and Melbourne. Most commercial projects are held as long-term investments by Cbus and managed by Cbus Property.
 
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According to Mark, partly as a result of the GFC, with residential projects there is a dynamic change in the availability of capital for new projects. Cbus Property is and has been a major financial partner across a range of projects, not just its own developments. One high-profile example is the recently completed upmarket The Residence project in Sydney. This project, as we will see later, also had some interesting marketing aspects.
The Cbus Property residential portfolio currently includes Sydney’s Dominion, in Darlinghurst, with 108 apartments, and the long-running Breakfast Point, in Sydney’s inner west, which is a joint venture project with Rose Group with over 2,000 homes and is set to run until 2016-17. In Melbourne, construction has recently commenced on Warleigh Grove in Brighton, set to deliver 101 apartments and seven townhouses.
Another key project for Cbus Property is at the Paris end of Melbourne, where in 2013 its next major new project, at 35 Spring Street, will get started. The 42-level building will have 270 apartments. According to Mark, this landmark project will highlight the role of quality design, one of Mark’s pet subjects and a driving factor in how he and the company look at each project they are involved with. We will return to this topic later to flesh out some of Mark’s more detailed thoughts.
I asked Mark about Cbus Property’s plans for the immediate future and where he saw the key opportunities.
“In the immediate future our focus will continue to be Sydney and Melbourne, but we are also keeping an eye on Brisbane. The city, core CBD locations is our home territory, then with residential within 10 to 12 kilometres of the CBD, such as suburb like Brighton and Breakfast Point.
“In Sydney we are currently working on a new CBD commercial opportunity.
“We will limit future projects to just commercial and residential, where our expertise is strongest.
“In terms of our own immediate future beyond the projects already outlined, like our many developers we are part of a wider industry network knocking on doors for new opportunities. We also get a lot of approaches from people looking for development partners and finance. We are part of a major superannuation fund, and that will always attract attention.
“In the post GFC environment, I do think there is real value and opportunities, as already suggested, in our structure. I think it creates harmony across our projects; it creates good returns and pride in their investments for Cbus members. We are very positive but cautious in moving forward in the post GFC environment.”
Moving to reflect upon the wider market, Mark clearly sees housing affordability and market confidence as key points that we will discuss in the next post.
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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