Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

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?

ANZ believes the Reserve Bank is in no rush to move again.

Following the release of the May Monetary Policy Board Minutes, ANZ has taken the view that the RBA is now firmly in a holding pattern, with the cumulative impact of previous rate hikes giving the Board scope to assess how the economy evolves from here.

That positioning, in ANZ’s view, makes a June rate hike unlikely.

The bank continues to expect the cash rate to remain unchanged at 4.35 per cent for an extended period, with the RBA adopting what is effectively a wait-and-see approach.

The Minutes point to a Board that sees financial conditions as already restrictive, but without a clear read on just how restrictive they are. That uncertainty has shifted the focus away from immediate policy action and toward monitoring both domestic conditions and global developments, particularly the conflict in the Middle East.

As ANZ interprets it, the Board is deliberately avoiding strong forward guidance.

Instead, it is allowing itself flexibility, acknowledging that monetary policy has limited ability to influence the near-term trajectory of inflation, while also recognising that economic growth is likely to remain below potential for some time.

Despite that pause in momentum, ANZ notes that the Board still carries a tightening bias.

The Minutes reveal that, in weighing up its decision, the Board seriously considered another 25 basis point increase. The key debate centred on the trade-off between inflation and activity, particularly in the context of global uncertainty.

Ultimately, most members leaned toward the inflation side of that equation.

Underlying inflation is still expected to remain above target for an extended period, regardless of how external risks evolve. That has led to a view within the Board that the risks to its inflation objective have increased, and that the current cash rate may not be sufficiently restrictive to fully contain those pressures.

That’s important.

While the decision, for now, is to hold, the underlying tone of the Minutes suggests the door to further tightening has not been closed.

ANZ also points to commentary from Assistant Governor (Economic) Sarah Hunter, who highlighted the risk that inflation could pass through the economy more quickly and broadly than in previous cycles. Both Hunter and a majority of the Board expressed concern that inflation expectations could become less anchored after such a prolonged period above target.

That combination, persistent inflation and the risk of expectations shifting, is what continues to underpin the RBA’s cautious stance.

However, where ANZ diverges from the RBA is on the outlook for activity.

The Board appears relatively comfortable with current spending patterns, effectively downplaying recent declines in business and consumer sentiment. It notes that sentiment has historically been only weakly correlated with actual spending, and that feedback from its liaison program has not yet pointed to a meaningful slowdown in consumption.

ANZ is less convinced.

The bank believes the link between household disposable income, sentiment and spending is more direct than the RBA is currently acknowledging. With inflation continuing to erode real incomes, ANZ expects household spending to soften more materially than the central bank is forecasting.

That divergence matters because it shifts the balance of risk.

If activity weakens more than expected, the trade-off between inflation and growth changes. In ANZ’s view, that would reduce the need for further tightening and reinforce the case for the RBA to remain on hold.

It also suggests that the current policy setting may already be doing more work than the Board fully appreciates.

The broader takeaway from ANZ’s interpretation is that the RBA is walking a narrow path.

On one side sits the risk of inflation remaining elevated for longer than expected. On the other is the growing pressure on households and the potential for a sharper slowdown in activity.

For now, the Board is choosing to wait.

But it is a pause that still carries an underlying tightening bias, rather than a clear pivot toward easing.

In practical terms, that leaves the cash rate anchored at 4.35 per cent for the foreseeable future, with the next move still uncertain.

For borrowers, it reinforces the reality that relief is not imminent.

And for the broader economy, it highlights the delicate balance the RBA is trying to strike, between bringing inflation back to target and avoiding an unnecessarily sharp slowdown in growth.

According to ANZ, it is a balance that is becoming increasingly difficult to maintain.

RBA to hold rates for "prolonged period" rather than hikes: ANZ

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Developer Stockland is one step closer to commencing its mammoth Caloundra South community development on the Sunshine Coast following a decision by the Sunshine Coast Regional Council to discontinue legal action against the declaration of the site as an Urban Development Area. 
The proposed Caloundra South community will be the largest project Stockland has ever undertaken, spanning 2,310 hectares, with plans to build 20,000 homes for about 50,000 residents over the next 20 years. 
The development will also include a large town centre, retirement living villages and opportunities for government and business investment. 
Stockland managing director Matthew Quinn says it welcomes the decision by the council. 
“Caloundra South will deliver 13,500 jobs in the first 10 years of development, provide affordable housing, promote sustainable living and ensure the future prosperity of the Sunshine Coast region,” he says. 
“We look forward to continuing to work with the state government and council as we undertake community consultation and meet our commitments to protecting the environmental value of the site and the nearby Pumicestone Passage.” 
Stockland anticipates the Queensland government will make a determination on the approval for the Caloundra South Development Scheme by the end of the year. 
Following this approval the next step in the process is to lodge and obtain state government approval for the Caloundra South Master Plan, which the developer aims to complete during 2012. 
Should the master plan be approved, Stockland will also need to complete a federal environmental assessment process before construction can commence. 
Preliminary works have already commenced on the Bellvista II residential community, which is an advance land release within the Caloundra South Urban Development Area. The Urban Land Development Authority last month granted approval, with first settlements expected towards the end of 2012.
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lschlesinger-FZcF9M3vE6

Challenge to Stockland Caloundra South development dropped

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Even before you start looking for your development site, you’ll need to clarify one thing.  Are you developing to sell or to hold?
To answer this question, you may need to answer another:  Is your strategy short or long term?  If it is short term, then selling may meet your needs to make a quick return on your investment. If you have a long-term strategy to build up a property portfolio, then holding will be the way to go.
There are several factors that will influence your decision:
Location
Your development is in an awesome location but in a poor rental market.  An example of this may be a coastal area where there may be higher demand from owner-occupiers wanting to purchase low-maintenance property to retire to. In this case you may sell to realise your profits, as holding would not be viable due to low rental returns.
Timing
If you complete your development and the market is in an upswing with high demand, then you may get a higher-than-anticipated sales price. So this may influence you to sell. But if the market is down and there is an oversupply of property but a tight rental market, then holding may make sense.
Interest rates
An important factor in calculating holding costs is interest. If interest rates are around 6.5% as they are now yet the rental yield is around 8% in the area you’re developing in, then holding the properties makes good sense. You may look at fixing rates for a few years, to take the risk of rates rising out of the scenario.
Taxation 
You need to discuss your personal and/or company tax situation with your accountant before starting to develop property. There is capital gains tax to consider when selling as well as GST implications when selling new dwellings. These alone may sway you to hold. You also need to check on land tax to see if this will affect you if you decide to hold.
Most of Property Bloom clients develop to hold.  This is because they choose to access the equity – which is created through the development process – through refinancing on completion.  This means they don’t have selling costs like agents selling commission, capital gains tax and GST.   Once refinanced, they can pull some equity out of the development if they choose.
Another deciding factor in holding is in the areas of the Hunter Region we develop in is that we are getting very strong rental returns. We find that we can maximise the rent because the villas are new. Tenants do pay a premium to live in a new dwelling. Also the vacancy rates are less than 1%.  The gross yield on completion can be as high as 9%. The yield does also depend on the size of the development.  A three-villa project will have a higher yield than a dual occupancy.
Another reason our clients hold is take advantage of the high depreciation benefits they receive on the new dwellings.  On a typical dual occupancy, our clients are receiving around $17,000 in year one (based on diminishing value method). If you are paying lots of tax, this is definitely one of the rewards of holding.
The final reason Property Bloom clients hold is because they want to build up a retirement fund and take advantage of future capital gains. In the suburbs we develop in, there is high potential for capital growth because of many factors including increased population, projected housing demand in the council’s regional strategy, spend on infrastructure and the benefits that the coal mining industry bring to these towns.  The long-term growth figures are over 12%.  So if a client can create say $80,000 to $120,000 in equity through the development process and then holds for 10 years, he or she stands to receive 12% growth on average, each year.  The future value of the development will be considerable.
Whatever your strategy, make sure you put down a solid plan that you feel comfortable with and set up a professional team to help you achieve your goals.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/" target="_blank" title="Property Bloom">Property Bloom</a>, which manages property development.
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How to know when to sell and when to hold a new development

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Property developers are offering greater incentives to financial planners who refer self-managed super fund clients to their projects as the appetite for real estate among the $430 billion DIY super fund sector continues to grow.
The closer ties and increased financial incentives come on the back of recent changes to self-managed super fund rules and the growing investment appeal of property over shares, which have spurred more financial planners to add property advice to their service proposition.
According to ATO figures, during the past year the amount of money SMSFs are allocating to property has jumped 25%.
In May this year property developer Stockland signed an agreement with financial planning group Professional Investment Services whereby it would pay its planners 3% for referring leads that result in a sale.
According to the Australian Financial Review, developers have now upped the ante by reportedly offering commissions of up to 7% for successful referrals.
From July next year financial planners will be banned from receiving commissions from fund managers and other investment providers, but this ban does not extend to receive commissions from real estate developers.
Financial planning group Money Tree provides property advice as well as mortgage lending and investment property sourcing to its client. It promises “exclusive access to some of best investment properties in Australia”.
Besides the volatile share market encouraging a reweighting towards real estate, property has become more attractive following the release of draft ATO rules that allow DIY funds to renovate and improve their properties (provided they don’t have to borrow within the fund to do so) as well as greater clarity about the type of real estate assets that a fund can acquire.
Ray White and Raine &amp; Horne are among the real estate franchises who have already set up referral arrangement with financial planners while McGrath Real Estate is also believed to be considering a partnership with advisers.
However, the move by developers to circumvent real estate agents has drawn concern from industry bodies, with the Real Estate Institute of Australia defending the role of its members in the buying and selling of property and providing property advice.
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Financial planners and developers join forces to entice SMSF investment

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There has been a marked increase in the number of distressed development sites put up for sale, particurlarly in NSW and Queensland, according to research carried out by property valuation group LandMark White.
Almost a third of major investment properties advertised in the Australian Financial Review in August were forced sales, the firm has found, with this figure rising to about 50% for sales in NSW and Queensland.
At the other end of the spectrum, just 5% of properties up for sale in Victoria are distressed sales, with the state building a reputation as a safe haven for developers.
However, according to Vanessa Rader, head of research at LandMark White, the increase in the number of distressed sales put up for sale will not automatically push up yields.
She says yields have stabilised since the GFC, with vendors selling now to cut their losses.
Distressed assets up for sale include <a href="https://www.propertyobserver.com.au/developments/raptis-boutique-gold-coast-site-in-receivership-listing/2011100451804" target="_blank">Midwaters, a 1,232-square-metres property at 3496 Main Beach Parade on the Gold Coast</a> that was to be the site of a $48 million 17-storey tower by veteran development group Raptis. The site is being marketed by Stephen Kidd and James Taylor from Colliers under instruction from the mortgagee Wellington Capital with offers due by October 12.
Another distressed asset up for sale is another section of the Martha Cove residential and marina project on the Mornington Peninsula, which is being marketed by CBRE agent Scott Gray-Spencer on behalf of receivers McGrathNichol.
Gray-Spencer says a lot of pressure has been placed on vacant, unapproved land, assets the banks wish to get off their books.
According to receivers KordaMentha, non-incoming producing assets such as development sites are pushing up the number of forced sales.
Berrick Wilson, partner at KordaMentha, says there are a lot of development sites no longer feasible in the current environment.
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Half of NSW and Queensland development site listings distressed

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Meriton Apartments has commenced the marketing of the initial Oceanvale offering on its eight-hectare $276 million Warriewood estate. The first stage comprises 226 apartments.
Its comes just three weeks after Pittwater Council failed in its bid to stall Meriton’s approval, which was given earlier this year by the NSW Planning and Assessment Commission (PAC).
Prices start at $425,000 for one-bedroom units, two-bedroom units from $545,000 and three-bedroom units from $640,000.
The display centre is open at the corner of Macpherson Street and Boondah Road.
The Land and Environment Court ruled last month the 450-apartment project on Sydney’s northern beaches could proceed given it accorded with the state government’s policies as laid out in the north east subregional strategy, which refers to a target of 4,600 new dwellings in the Pittwater local government area to be constructed by 2031.
The PAC decision in January noted there was a need to increase housing stock in metropolitan Sydney and in each subregion to meet housing demand from a growing population and changing household requirements.
The PAC says it took its lead from the state government’s 2010 Metro Strategy and approved a concept plan limiting building height generally to three storeys and development densities to a maximum of 60 dwellings per hectare.
It notes the proposed height is considered compatible with surrounding streetscape and the density is sustainable given the location.
The PAC strongly recommended that the council and the Department of Planning work together to jointly prepare a comprehensive strategic study of the whole Warriewood Valley.
“In the absence of such a study and in order not to unreasonably delay a determination of the applications in considering the merits of the project, the PAC takes its lead from the Metro Strategy as guiding its conclusions regarding the appropriate development density and height at the site,” the court judgement notes.
The PAC considered that a three-storey limit was appropriate, with a fourth storey on certain buildings in the centre of the eight-hectare site.
The project application for stage 1 was also approved subject to the modified concept plan and conditions.
The council submitted there was a requirement for certainty in relation to the determination of concept plans.
Meriton had sought approval for residential development at a density of 75 dwellings per hectare and building heights of variously three, four and five storeys.
The most recent council strategic report – the Warriewood Valley planning framework 2010 – recommended 25 dwellings per hectare.
Under the council local environment plan the site is identified has permitted to have a density of 17 to 18 dwellings per hectare. The development control plan specifies a building height of two to three storeys for the site.
Residents have claimed any 19-metre-high, five-storey development would be the tallest approved on the peninsula since the council was formed almost two decades ago.
The site determination by the PAC followed the procedural state government’s Part 3A planning law that removed council control over the assessment process.
Pittwater Council list the site’s history as August 2009, when under Part 3A of the Environmental Planning &amp; Assessment Act 1979 , a major project was declared at 14-18 Boondah Road, Warriewood.
Under part 3A, the Minister for Planning was the consent authority, rather than Pittwater Council, however the minister delegated determining authority to the Planning Assessment Commission. The council made a submission on the Environmental Assessment and a submission on the preferred project report objecting to the major project application.
On January 18, 2011 the PAC approved a concept plan and project approval for stage 1 works, subject to modifications limiting the number of building storeys and the development density. The concept approval stated that all future stages of the development are to be lodged with and assessed by council.
Information relating to the major project application and the PAC's report may be viewed via the <a href="https://www.planning.nsw.gov.au/" target="_blank">Department of Planning &amp; Infrastructure website</a>.
A development application for stage 2 of the concept plan was lodged with council on April 15, 2011 (N0125/11). This application has now been withdrawn by the applicant.
Pittwater Council appealed the PAC's decision in the Land and Environment Court. The judgment was handed down on September 12, 2011, dismissing the council's appeal.
The concept plan and stage 1 of the development, approved by the PAC, remain valid consents.
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jchancellor-FAypfDUnLy

Pittwater's objections struck down, Meriton Warriewood development starts selling

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The Brisbane entertainment precinct of Fortitude Valley is becoming a hotspot for residential development, and a new 191-apartment complex is set to add to it upon its completion in early 2013.
David Devine’s Metro Property Development, in partnership with Pearls Australiasia, have designed the 14-storey Brooklyn complex on Brookes Street as a New York-style apartment building.
The 14-storey complex will comprise six studio apartments from $305,000, 85 one-bedroom apartments from $356,500, 21 two-bedroom, one-bathroom apartments from $489,500 and 79 two-bedroom, two bathroom apartments between $543,000 and $705,000.
“With its close proximity to the Brisbane CBD and Fortitude Valley’s vibrant shopping, restaurant and entertainment precinct, it’s extremely attractive to individuals and couples looking for an exciting inner-city lifestyle,” says Metro Property Development executive chairman David Devine.
Architecture firm Woods Bagot is designing the complex, which will be very modern in feel with extensive use of glass and textured concrete.
Woods Bagot principal Mark Damant says design of the development was inspired by its namesake city.
“The acknowledgement of the wider block and its urban context inspired the ‘New York’ approach to the design – presenting the building as a series of closely related individual towers, rather than a microcosm of a city,” Damant says. “Brooklyn on Brookes exudes cosmopolitan flair yet embraces the traditional rustic feel that is akin to Fortitude Valley’s urban footprint.”
The development officially launched yesterday, October 4, and Metro Property Development says it has had a flood of interest from potential owner-occupiers and investors, but local and overseas.
The building includes a swimming pool and gym, and the living area in each apartment will have full-width glass windows.
<a target="_blank" href="https://www.propertyobserver.com.au/developments/alex-perry-development-and-others-all-the-fashion-in-fortitude-valley/2011091551568">Other Fortitude Valley developments in the work include a 131-apartment building designed by fashion designer Alex Perry, the 20-storey Belise at 510 St Paul’s Terrace and Leighton’s 18-storey Mosaic project.</a>
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cknowlton-QnEa6ntUYP

Fortitude Valley's Brooklyn development offers a taste of the Big Apple

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A Main Beach, Gold Coast development site with approval for a 17-storey residential tower has been re-listed, this time by Colliers International. Offers are due by October 12.
Midwaters, a 1,232-square-metres property at 3496 Main Beach Parade, was to be the site of a $48 million tower by veteran development group Raptis.
Raptis is credited with changing the face of the Gold Coast skyline as we know it.
<img src="/images/stories/raptisgold.jpg">
Expressions of interest are being sought by Colliers agents Stephen Kidd and James Taylor, who are acting under instructions from the mortgagee Wellington Capital.
The 12 units in the 1970s block were consolidated in 2007 at a cost of $10 million.
Development approval has been in place since June 2008 for a 16-apartment tower with a ground-floor apartment, four half-floor apartments, 10-full floor apartments and a three-storey penthouse apartment.
Most apartments would have beach and river views along with the Surfers Paradise skyline.
“Raptis had spent a long time amalgamating this site knowing that it was special and could never be repeated due to its location and having water on both sides,” Kidd notes.
“Despite recent turmoil in the local market, demand for development sites is returning as the city remains one of the fastest-growing local government areas in Australia with a population of 515,000 and growing,” Kidd suggests.
“There currently are no other sites in Main Beach that are approved for a high rise.
“While the Gold Coast has experienced a recent influx of new high-end quality apartments with the completion of Oracle, the Hilton and Soul, the demand for such stock in a small boutique-style building is still relatively strong.”
The Raptis Group collapsed in late 2008 after its banks called in the receivers.</body></html>

Raptis boutique Gold Coast site in receivership listing

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Demand for inner-city Melbourne land from Asian developers has reached “unprecedented” levels over the last 18 months, according to Savills Australia. 
Savills agents have negotiated the sale of more $100 million worth of development sites over the last 18 months in Melbourne, with more than half of this amount spent in September on two sites. 
In the last two weeks Savills had sold a 3,200-square-metre site with potential for more than 500 apartments at 224-250 La Trobe Street for $29.2 million, and an 8,000-square-metre office building on a 900-square-metre site at 150 Queen Street for $25.5 million, the latter earmarked for residential conversion by purchaser Chip Eng Seng of Singapore. 
Another major development site – a 2,250-square-metre site with a permit for 368 apartments at 420 Spencer Street, West Melbourne – is currently on the market for around $17 million, with significant local and Asian interest already registered. The site is being marketed by Savills head of division for city sales and investments Clinton Baxter and Nick Dempsey via expressions of interest closing on October 14. 
Before these purchases, Asian developers have spent an average of $12.5 million per month buying up another six sites, with buying activity kicking off in March 2010. 
Other Asian buyers had included SP Setia and Mammoth Empire Holdings both from Malaysia along with many mainland Chinese private developers. 
According to Savills divisional director of CBD sales and investments Nick Peden, buyers from China, Singapore and Malaysia have been attracted by Australia’s financial stability and Melbourne’s comparatively inexpensive land values 
“With the global economy experiencing some uncertainty, Australia, and more particularly Melbourne, is the destination of choice for Asian developers seeking to secure development land for high density apartment projects,” Peden says. 
“Melbourne offers sustained population growth, inexpensive land compared to home markets, the potential for significant growth, the benefit of freehold title, and it’s stature as the world’s most liveable city,” he says.
“This Asian demand really is unprecedented.” 
Clinton Baxter says the agency has sold 17 properties with residential development potential since March last year with more than half of those to off-shore Asian purchasers. 
“What has changed recently for these buyers, and particularly Asian developers, is Melbourne’s relative stability in an increasingly uncertain global economic climate. 
“In many cases they have a significant, additional,  competitive advantage over local developers by being able to source funding from off-shore, and in doing so enjoying cheaper costs of debt whilst avoiding the onerous capital restrictions of the local banks. 
“Given the current enquiry we have on the books we expect sales to Asian buyers to continue to play a significant hand in the sale of development sites across Melbourne,” he says.
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Asian investors snapping up Melbourne development sites: Savills

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Frasers and Japanese joint venture partner Sekisui House have secured $550 million in funding for the 5.8-hectare mixed-use Central Park development on Broadway in central Sydney. 
The debt facility is being provided by ANZ and The Bank of Tokyo-Mitsubishi UFJ and will be used to fund the construction of approximately 1,400 apartments across five residential towers and a 16,700-square-metre multi-level retail centre at Central Park development. 
According to Frasers, the loan agreement is one of the largest development facilities agreed in Australia post-GFC.
 
Frasers Property Australia CEO Guy Pahor says the loan represents “a major milestone in the development of Central Park”. 
“Construction is well underway at Central Park and sales are progressing exceptionally well,with more than 80% of the 623 apartments within One Central Park now sold,” Pahor says. 
Earlier this month Watpac Construction was granted the $240 million contract for the second residential stage at Central Park, taking current construction commitments to over $600 million. 
In July 2011 Frasers Property Australia and Sekisui House Australia formed a joint venture partnership to jointly develop the majority of the $2 billion mixed-use Central Park development. 
When completed, the Central Park project will have 1,900 apartments as well as student housing, a hotel and a 70,000-square-metre commercial office campus. 
Key heritage buildings have been retained and will be restored, preserving the site’s cultural heritage. 
Central Park will showcase the talents of some of the world’s leading architects and international designers including French architect Jean Nouvel of Ateliers Jean Nouvel, the UK’s Foster + Partners, French botanist and artist Patrick Blanc, and Australian architects Johnson Pilton Walker, PTW Architects and Tonkin Zulaika Greer. 
Apartments currently for sale at Central Park range in price from $505,000 for a one-bedroom apartment to $2.295 million for a three-bedroom penthouse.
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Frasers secures record post-GFC loan for Sydney Central Park project

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
The six houses in the Channel 10 series The Renovators have all been sold under the hammer – and the overall results weren’t pretty.
Only one of the six sales did really well. It was an auction where there were dozens of competitive bids. The least enthusiastic offering attracted just the one offer, which was accepted.
The reserve prices are undisclosed, so even the most ardent auction attendee won’t necessarily know the winner until the series finale scheduled to air around October 9.
Property Observer was not a signatory to keeping secrets for the next fortnight, as some media organisations have agreed.
And we don’t wish to spoil the enjoyment of laboured countdown to the finale for the viewers.
We did report the<a href="https://www.propertyobserver.com.au/auctions/channel-10-s-renovators-meet-reality-and-foolishly-seek-silence-on-sydney-auction-results/2011092851718" target="_blank"> initial two results of the public auctions </a>(spoiler alert) – but not the contestant details – as the prices gave a terrific indication of the state of the Sydney property market.
It’s unquestionably a buyers’ market.
Based on the costs of purchase and renovation – on which there was welcome disclosure – some of the six offerings only just broke even, and in one case fell well short.
This presumably means the collective prize money pool will be less than anticipated, if the reserve prices match the expenditure cost.
Of course the series is much about entertainment – highs and lows in what’s almost a game – and sadly so this aim even spilled to the listing agents, <a href="https://www.propertyobserver.com.au/renovating/diy-price-estimates-for-the-renovators-six-offerings/2011091351521" target="_blank">who when asked for indicative pre-auction price guides gave none under instructions from Channel 10</a>.
While many were turned off by the hours spent watching varnish dry, there are valuable property lessons in the outcomes, just like The Block 2011 in Melbourne. 
Just one of the four Block cottages sold under the hammer, and <a href="https://www.propertyobserver.com.au/victoria/take-two-auction-frenzy-as-only-one-offering-left-on-the-block/2011082351266" target="_blank">all in quick time afterwards</a>, and now they are <a href="https://www.propertyobserver.com.au/landlords/block-richmond-properties-hit-the-rental-market-with-yields-of-up-to-6.3/2011092851717" target="_blank">possibly rented at terrific gross yields</a>.
For expert commentary and analysis on lessons to be learnt from property reality TV, <a href="https://register.propertyobserver.com.au/lights-camera-auction/" target="_blank">download our e-book Lights, Camera, Auction!</a>
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