&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Joel Robinson

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more internation and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

<section data-scroll-anchor="false" data-testid="conversation-turn-5" data-turn="user" data-turn-id="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" data-turn-id-container="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" dir="auto">Time &amp; Place’s plans to transform the former David Jones factory building in Surry Hills into a mixed-use residential precinct have gone on exhibition through the NSW Government’s In-fill Affordable Housing pathway.</section>

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" data-turn-id-container="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" dir="auto">
The Marlborough House proposal, lodged for the <a href="https://www.apartments.com.au/new-apartments/marlborough-house-47-97-marlborough-street-surry-hills-nsw-2010">47-97 Marlborough Street</a> site, would see the adaptive reuse of the heritage-listed warehouse building alongside the construction of new residential additions and a separate apartment building on the northern portion of the site.

The proposal seeks approval for 172 apartments across three buildings, including 15 per cent affordable housing managed by a community housing provider for at least 15 years from occupation.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="5d1d3c2a-bf13-47d6-a335-7c01102cdee1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.36%E2%80%AFAM.png?VersionId=cjMYrbR.BLUlWH4dar0RVDDo0bG.u2YT" />

Interior view from the Northern Building Penthouse overlooking the park

&nbsp;

The redevelopment is planned for the prominent 3,413 sqm site bounded by Marlborough Street, Goodlet Street and Lansdowne Street, directly opposite Eddie Ward Park and around 200 metres from the Surry Hills light rail stop.

Time &amp; Place acquired the former David Jones building in 2024, marking the first time the property had changed hands in around 50 years.

Designed by Wardle, the proposal centres around the adaptive reuse of the former David Jones factory, originally constructed between 1913 and 1935 in the Inter-War Chicagoesque architectural style.

Wardle noted in its Architectural Design Report that the building “occupies a significant place in the industrial and cultural history of Surry Hills” and at its peak was “the largest department store manufacturing facility in Australia, employing over 800 people and fuelling the growth of Sydney’s fashion and retail industries.”

The practice said the project positions itself “not as an isolated intervention, but as a contributor to the civic, social, and architectural grain of the precinct.”

The proposal would deliver 75 apartments within the retained southern heritage building, 59 apartments within the central addition, and a further 38 apartments within the new northern building fronting Lansdowne Street.

Planning documents show the scheme would comprise a mix of heritage apartments, new-build apartments, townhouses and penthouses.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="57758518-40a3-4b83-958c-d06e96a2cffa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.42%E2%80%AFAM.png?VersionId=VerlX9ST5xgBi8.1_YRsqdWTJeT6ygjs" />Interior View of the Heritage Building Apartment

The development would also include a ground-floor retail tenancy on the corner of Marlborough and Lansdowne streets, rooftop communal open space, a landscaped pedestrian link along the western edge of the site, and basement parking accessed from Lansdowne Street via a car stacker system.

&nbsp;

The scheme emerged from a competitive design process run by Urbis, with Wardle ultimately selected as the winning architect ahead of FJC Studio, TZG, Architectus and Wilkinson Eyre.

The Design Integrity Panel later described several aspects of the Wardle scheme as fundamental to the project, including “the stepped character of the new addition to the north of the site”, the landscaped western pedestrian link, and the “garden arrival” experience separating the original Marlborough House from the heritage addition.

Wardle’s design heavily references the site’s industrial and heritage history, while also responding to the surrounding Surry Hills streetscape.

The Architectural Design Report describes Surry Hills as “a finely grained neighbourhood with beautiful and expressive brickworks throughout the suburb,” with the proposal introducing a material palette intended to sit comfortably alongside the existing warehouse fabric and neighbouring terraces.

The report also outlines the project’s relationship with Eddie Ward Park and the broader landscape context of the area.

“Marlborough House occupies a site of deep cultural memory and the neighbouring Eddie Ward Park is of local ecological significance, where natural systems, topography, and stories have long shaped human experience,” Wardle noted in the report.

The architects said the proposal sought to “rebind built form to Country” through landscape, materiality and the adaptive reuse of the heritage structure.

<img alt="Marlborough House" data-entity-type="file" data-entity-uuid="9ae3f2f9-c85f-477a-a6f8-b43f6cb97c41" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.53%E2%80%AFAM.png?VersionId=B.qUCLqRvJOR.n9CvYcTpaknIX9LuqKZ" />

The project is also being progressed under the NSW Government’s in-fill affordable housing provisions, allowing developments that include affordable housing to access additional height and floor space incentives.

Under the plans, 2,593 sqm of the project’s floor space would be dedicated to affordable housing, slightly exceeding the required 15 per cent threshold.

In its Design Excellence Strategy, Urbis said the project aimed to “sensitively adapt and enhance the heritage-listed building on site through alterations and additions that preserve its historical significance” while delivering “high-quality market and infill affordable housing development in Surry Hills.”

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in&nbsp;<a href="https://www.apartments.com.au/developments/south-melbourne-vic-3205">South Melbourne</a>, and have future projects, <a href="https://www.apartments.com.au/new-apartments/the-wilmot-173-burke-road-28-hope-street-glen-iris-vic-3146">The Wilmot</a>&nbsp;in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>, the redevelopment of the Northcote Plaza, and another tower in South Melbourne.

The developer broke into Sydney just a few years ago with Two Tides in Manly. They have another project nearby, which is at the ultra-luxury end of the market on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach.

It is also continuing to work through the <a href="https://www.apartments.com.au/news/nsw/first-look-time-place-settles-on-design-for-the-chimes-potts-point-redevelopment">redevelopment of The Chimes building</a> on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as a project on <a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Mosman's Redan Street</a>.
</section>

First look: Time & Place unveils Marlborough House redevelopment designs for former David Jones warehouse in Surry Hills

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

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?

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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<img src="/images/stories/architect.gif">
- The Real Estate Agents Authority of New Zealand, which  has slammed local agents for <a href="https://www.nzherald.co.nz/residential-property/news/article.cfm?c_id=76&amp;objectid=10756666" target="_blank">claiming houses are "architect-designed" when they are not</a>. 
 
 
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jchancellor-FAypfDUnLy

Quote of the week

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<img src="/images/stories/16120.jpg">
The space the Queensland state government’s Department of Public Works will take up in a new nine-story office tower being developed as part of the $1 billon Ipswich City Heart development. Located on the corner of Brisbane and Bell streets in the Ipswich CBD, the A-Grade office tower will become the largest commercial building in the city, comprising a net lettable area of 18,000 square metres. The deal with the Department of Public Works includes nine levels of commercial space and a 520-square-metre customer service centre on the upper ground floor. Leighton Properties and Ipswich City Properties intend to commence early works on the commercial tower at the end of 2011, with completion scheduled in late 2013.
 
<hr>
<img src="/images/stories/200dollars.jpg"> 
The gross annual rent per square metre that Wavelength Pty Ltd will pay to lease a 310-square-metre office at 3/28 Smith Street, Chatswood on the Sydney North Shore from Westerlop Pty Ltd. The lease term is three years, with a three-year option and was arranged by John Swanson, from Sutton Anderson.
 
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<img src="/images/stories/283.jpg"> 
The total area that GK Trading has leased at 11/2-4 Hale Street, Botany in Sydney from P &amp; E Szoreni. The lease term is two years with the agreement negotiated by Marino Rodriguez from Taylor Nicholas, South Sydney.
 
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<img src="/images/stories/78dollars.jpg"> 
The net rent per square metre that Parben Pty Ltd will pay to lease a 1,538-square-metre warehouse at 97 Percival Road in Smithfield in Western Sydney from Boden Property. The lease is for four years, plus a four-year option. The agreement was negotiated by Elijah Shakir from Jones Lang LaSalle Narrabeen.
 
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<img src="/images/stories/7100sqm.jpg"> 
The amount of space ANZ will lease at One One One Eagle Street in the Brisbane CBD. The bank will lease five floors of the River Rise section to accommodate about 600 staff.
 
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<img src="/images/stories/485dollars.jpg"> 
The annual rent per square metre that mining services firm Sedgman has agreed to pay to lease 6,600 square metres of office space in two buildings in Gardiner Place, Milton in Brisbane for a term of five years. Tom Barr from Jones Lang LaSalle negotiated the deal, one of the largest outside the CBD this year.
Know of a commercial leasing deal? <a target="_blank" title="Email us" href="mailto:%20news@propertyobserver.com.au">Let us know</a> to be included in next week's listing.
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lschlesinger-FZcF9M3vE6

Commercial leasing: Watch this space

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<img src="/images/stories/2point375.jpg">
The sales price achieved for a freehold property located in the Puckle Street retail strip in Moonee Ponds, Melbourne. The sales campaign was handled by Fitzroys director Chris Kombi on behalf of Leighton Lynch Pty Ltd, with the result representing a yield of 4.86% on the net passing rental. Located at 38 Puckle Street, the property comprises a two-storey retail building and features street frontage of 7.62 metres on a 272-square-metre site. The property is leased to Zilla Holdings Pty Ltd, trading as the Paddington Coat Factory, and is returning a rental of $120,000 per annum plus outgoings and GST, excluding land tax. The current lease ends  September 15, 2012, with two further three-year options available to the tenant.
 
<hr>
<img src="/images/stories/4point87.jpg"> 
The yield reflected by the sales price of $550,000 achieved for a prominent corner property in McKinnon’s retail strip centre at auction. James Lockwood from Fitzroys handled the sales campaign. The two-storey property is located at 129 McKinnon Road, McKinnon in Melbourne and features a 5.82-metre frontage to McKinnon Road and incorporates a building area of about 125 square metres. The property is leased to café Mr Burch on a three-year deal beginning August 2010, with three further three-year options and is currently returning $26,780 per annum plus GST.
 
<hr>
<img src="/images/stories/7point9.jpg"> 
The amount Woolworths supermarket on the corner of Shannon Avenue and Aberdeen Street in in Geelong has sold for to a local private investor at a Melbourne auction. The sales price reflected a yield of 6.83%. The property was marketed by Shaun Venables and Graeme Watson from Burgess Rawson. The supermarket is on a 7,545-square-metre site with three street frontages and includes 140 car spaces.
 
<hr>
 
<img src="/images/stories/316m.jpg">
The amount Singaporean property group Ascendas is expected to pay for three Stamford Hotels in Melbourne, Adelaide and Sydney as part of a proposed sale and leaseback agreement. The hotel group has signed a non-binding memorandum of understanding. The three hotels have a book value of $148.7 million, meaning the proposed sales price is $167.3 million above this value. The three hotels are the Stamford Plaza Melbourne, the Stamford Grand Adelaide and the Stamford Plaza Sydney Airport Hotel.
 
<hr>
<img src="/images/stories/8point08.jpg"> 
 
The yield achieved following the sale of the Future Kids Childcare Centre at 975 Frankston-Cranbourne Road in Cranbourne, Melbourne for $1.725 million at auction in Melbourne. The property, built on a 1,370 square metre site, was sold to a Berwick based private investor. The sales campaign was led by Shaun Venables and Adam Thomas from Burgess Rawson. Future Kids pays annual rent of around $140,000 to lease the property.
Know of a commercial sales deal?<a href="mailto:news@propertyobserver.com.au" target="_blank"> Let us know </a>to be included in next week's listing.
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Commercial hammer prices

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<img src="/images/stories/1point1.jpg">
Offers, excluding GST, expected for a standalone 216-square-metre office building at 28A Blazey Street, Richmond close to the Melbourne CBD. The building is being marketed by DTZ selling agents Patrick O’Callaghan and Danny Clark. It has three off-street secure car spaces with additional storage on the ground floor, a 5.7-metre street frontage and a separate entry to the first-level offices from the left side of the building with access from the footpath. Bonus features include a shower and a caretaker’s residence on the top floor, together with a spectacular balcony area. The property will appeal to creative, consulting or professional owner occupier businesses. According to Clark, one of the strong features of the building is its location: “Blazey Street runs east off Burnley Street and parallel with Bridge Road, offering transport connections by all modes in every direction.”  The deadline for the private sale is December 7.
 
<hr>
<img src="/images/stories/2200sqm.jpg"> 
The size of an office and warehouse property snapped up by online computer software and hardware retailer PC Case Gear for $2.2 million at Mulgrave in Melbourne’s south east. The sale was negotiated by Savills Australia’s Daniel Kelly. Located at 18-20 Glenvale Crescent, the building includes a 2,000-square-metre warehouse and 200 square metres of office space. The 1970s building was part of the original and tightly held AV Jennings Slough subdivision, which had been one of the first industrial developments in the area. Kelly says PC Case Gear had recognised there were few options in this location but wished to remain close to its staff and provide for expansion of the business. The vendor was a Melbourne-based private investor.
 
<hr>
<img src="/images/stories/10ha.jpg">
The size of the cherry orchard situated on the Murray Valley Highway at Wyuna listed for sale $480,000. <a href="https://www.propertyobserver.com.au/rural/two-sweet-victorian-orchard-offerings-as-cherry-season-begins/2011110152159" target="_blank">The property is dubbed The Big Cherry</a>. John Lilford, the Hinchliffe + Greed Real Estate Kyabram listing agent, says the majority of the orchard is of different cherry varieties, along with apricots and apples. The property boasts a large air conditioned display area for the sale of fruit and jams produced from the orchard and two large cool rooms used for storing fruit for the market.


 
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<img src="/images/stories/750k.jpg"> 
The amount being sought for the humble <a href="https://www.propertyobserver.com.au/victoria/stable-investment-on-the-market-in-ascot-vale/2011103152147?source=flicker5">Ascot Vale stables,</a> the 526-square-metre holding just a short gallop from Flemington Racecourse. It due to be auctioned on November 12 auction through Nada Pali at McLeod Real Estate The Professionals. It’s been listed by the Lawson family, who have owned the property for more than 60 years. Trainer Alec Lawson’s stable included Gay Filou, the Toorak Handicap winner at Caulfield in 1962. 
 
 
 
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<a title="Click to enlarge" rel="shadowbox" href="/images/stories/rpsaleslarge.gif"><img src="/images/stories/rpsales.gif"></a>
Click to enlarge
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Top 10 sales of the week: RP Data

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<img src="/images/stories/2point1m.jpg">
The amount a Westpac branch at 1-3 Rohini Street in Turramurra sold for at auction on the Sydney North shore. The 390-square-metre property was marketed by Charles Gonzalez from Burgess Rawson. It was sold to a SMSF investor on a net yield of 6.88%. It comes with a five-year lease starting from June 2010.
 
<hr>
<img src="/images/stories/9point98.jpg">
The yield achieved on the sale of an IGA in Dungog in the Upper Hunter Valley in NSW that sold to a Victorian private investor for $3.255 million. The property is located at 219-235 Dowling Street and was marketed by Charles Gonzalez from Burgess Rawson and Guy Littler from Knight Frank. It comes with a 15-year lease.
 
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<img src="/images/stories/200m.jpg">
The amount two offshore funds have additionally invested in <a href="/news">Charter Hall Office REIT</a> after Macquarie Group sold its share and pulled out of a consortium bid it led to acquire the REIT. Macquarie sold its stake to Canada’s Public Sector Pension Investments Board (PSP Investments) and Singapore’s GIC fund. Both funds will inject an additional $100 million to acquire Macquarie’s share of the fund and take their total investments in the office trust to $400 million each.
<hr>
<img src="/images/stories/6per.jpg">
The yield on Westfield’s half share in the <a href="https://www.propertyobserver.com.au/retail/lend-lease-buys-westfield-s-stake-in-cairns-central-shopping-centre/2011102452053" target="_blank">Cairns Central shopping centre</a> sold to Lend Lease’s Australian Prime Property Fund for $261 million. The 52,725-square-metre, two-level centre was put up for sale by Westfield and Lend Lease earlier this year with a price tag in excess of $450 million. The sales campaign was run by Simon Rooney of Jones Lang LaSalle with Perpetual Trustees appointed to manage the process following a four-year dispute between Westfield and Lend Lease over management of the centre.
 
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<img src="/images/stories/50mill.jpg"> 
The price tag placed on the Century Centre in the Parramatta CBD, which has been listed for sale for the first time on behalf of private developer Capital Corporation. <a href="https://www.propertyobserver.com.au/office/parramatta-office-tower-on-the-market-for-about-%2450-million/2011102052018">The 12-storey A-grade office building is located in the business hub of Parramatta CBD between George and Macquarie streets</a> on a heritage-listed site steeped in history. It sits above the convict-built sandstone barrel-drains that run under Church, George, Smith, Charles and Macquarie streets. CBRE’s Greg Cohen and Michael Brislane in tandem with Frank Sassine and John McCann of Colliers International will jointly market the building.
 
<hr>
<img src="/images/stories/2m.jpg"> 
The amount a private developer paid for a 446-square-metre site at 333-335 Ferrars Street, South Melbourne with plans to transform it into residential apartments.  This mixed-use site is currently a used car dealership. The sale was negotiated by Nick Bade from Lemon Baxter. The tenant has a lease agreement until January 18, 2013 and is currently paying $31,800 per annum. There is no option to renew the lease.
 
Know of a commercial sales deal? <a href="mailto:news@propertyobserver.com.au" target="_self">Let us know</a> to be included in next week's listing.
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<img src="/images/stories/goldquote.jpg">
- Journalist Rory Gillen, in <a target="_blank" title="Irish Times" href="https://www.propertyobserver.com.au/https://www.irishtimes.com/newspaper/finance/2011/0902/1224303346122">The Irish Times</a>
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<img src="/images/stories/83k.jpg">
The estimated gross annual rental that electrical contractors John Moss Electrical Pty Ltd will pay to lease a vacant 700-square-metre warehouse in Mortdale in Sydney’s southwest. The company has leased a freestanding warehouse at 33 Barry Avenue in a three-year deal negotiated by Ryan Jennings of Ray White Industrial M5.
 
<hr>
<img src="/images/stories/490.jpg"> 
The amount ASX-listed mining company PanAust Limited will pay per square metre to rent approximately 1,000 square metres at 15-19 James Street in Fortitude Valley, Brisbane, a redevelopment of the Centro on James complex owned by John James and Patrick George. The new lease takes all of the first floor in a five-year deal. The company will also lease 10 car bays at $275 per bay per month. The building is currently under construction, and PanAust expects to move into the new space in fourth quarter of 2011.The lease agreement was negotiated by Jones Lang LaSalle’s Tom Barr and Don Mackenzie.
 
<hr>
<img src="/images/stories/110num.jpg"> 
The net annual rent per square metre that CRG will pay to lease a 1,570-square-metre warehouse at A2/175 Power Street in Glendenning in the outer west of Sydney from ARV. A lease term of three years was negotiated by Elijah Shakir from Jones Lang LaSalle.
 
<hr>
<img src="/images/stories/300.jpg"> 
The net annual rent per square metre that Crunch V Group Pty Ltd will pay to rent a 1,780-square-metre shop at 48-52 Scott Street, Liverpool from Gazcon Pty Ltd.  A lease term of 10 years was negotiated by Fab D'Alfonso from Colliers International.
 
<hr>
 
<img src="/images/stories/350sqm.jpg">
The size of a high-tech unit that mortgage technology company Nextgen Pty Ltd has leased at 57/6-8 Herbert Street in St Leonards from Keneva Super Fund. The lease term is three years with the deal negotiated by Kellie Tattersall from Taylor Nicholas North Shore.
 
<hr>
<img src="/images/stories/2770.jpg"> 
The size of the office/warehouse unit that data storage company Verbatim will lease at Lend Lease managed Australian Prime Property Fund Industrial’s Noble Park complex. The complex is situated at 450-466 Princes Highway, Noble Park, Melbourne in close proximity to the Eastlink freeway. The lease agreement was negotiated by CBRE senior manager David Aiello at net rental rate believed to be just under $80 per square metre. Verbatim, a subsidiary of Mitsubishi Chemical Corporation, is presently based at Glen Iris.
Know of a commercial leasing deal? <a href="mailto:news@propertyobserver.com.au" target="_blank">Let us know</a> to have it included in next week's listing.
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<img src="/images/stories/3mil.jpg">
The amount Bunnings has paid for a 24,500-square-metre industrial lot in Northern Alice Springs on the Sturt Highway. The home improvement group will open its first store in Alice Springs on the site. The deal was negotiated by First National Commercial Frampton’s director David Forrest. The site had been up for sale for more than a year.
 
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<img src="/images/stories/29point2.jpg">  
The amount an <a target="_blank" href="https://www.propertyobserver.com.au/developments/asian-investors-snapping-up-melbourne-development-sites-savills/2011100451800">Asian developer has paid for 3,200-square-metre site with potential for more than 500 apartments at 224-250 La Trobe Street</a> in the Melbourne CBD. The deal was negotiated by Clinton Baxter and Nick Peden from Savills Australia.
 
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The amount road building contractor Delcon Civil Pty Ltd is believed to have paid for a new industrial building at Carrum Downs in Melbourne’s outer southeast. Located at 37 Yazaki Way (unit 1), the property comprises a 377-square-metre office and warehouse unit. The deal was negotiated by Savills Australia divisional director Joseph Catanese. The vendor was Melbourne-based developer Elite Property Group.
 
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The yield achieved following the sale of a 350-square-metre heritage-listed three-storey building at 19 McKillop Street, Melbourne for $2.6 million. The sale was negotiated by Tom Backay of Fitzroys. Built in 1854, the building provided a rare example of a converted bluestone warehouse in Melbourne’s CBD. The property was leased to Guhng, a Korean charcoal BBQ restaurant, in mid-2010 on a five-year lease, with a further five-year term at $150,000 per annum net plus GST and with annual increases of 5%.
 
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The amount developer <a target="_blank" href="https://www.propertyobserver.com.au/developments/asian-investors-snapping-up-melbourne-development-sites-savills/2011100451800">Chip Eng Seng of Singapore paid for an 8,000-square-metre office building on a 900-square-metre site at 150 Queen Street</a>, which is earmarked for residential conversion. The building was sold by Sydney-based fund manager Charter Hall, which acquired it for $32 million in September 2007. The property was marketed by Clinton Baxter and Dominic Long from Savills along with Nick Rathgebe and Leigh Melbourne from Colliers.
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The size of the Novotel Forest Resort near Daylesford, which has been listed for sale. The property incorporated an eco-friendly resort, golf course and gated residential community featuring 37.2 hectares of freehold land and 25.2 hectares of leasehold land. Jeremy Gruzewski and David Grima from Colliers International have been appointed to market the resort, which opened in 2008 and was built at a cost of $200 million. The resort comprises 144 rooms over four levels, including a wellness centre and day spa, modern convention centre, retail facilities, bistro and restaurants.  Also up for sale is the 18-hole, 72-par golf course and an 80% shareholding in Forest Resort Utilities Pty Ltd, a wastewater treatment plant. The land was acquired by developer Jim Walsh and his family for less than $1 million in 2001, after it was in financial trouble. Approval to develop the land took four and a half years of Walsh’s Forest Resort business and the local Dja Dja Wurrung tribe for the use of 25 hectares of adjoining Crown land. The golf course was designed by famed golf course architect Tony Cashmore and is the site of heritage water courses and gold diggings, which date back to the mid-1800s gold rush. 
The Walsh family almost lost the hotel after being caught up in the collapse of Gold Coast lender MFS in 2009, which had provided a $48.3 million loan to fund construction of the resort. In April this year Walsh lodged a $168 million lawsuit in the Victorian Supreme Court against MFS and its custodian prior to its collapse, Perpetual Trustees.
 
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The amount Gold Coast developer Sunland paid for <a href="https://www.propertyobserver.com.au/leisure/sunland-cements-gold-coast-holdings-with-neighbouring-%2413-million-mariners-cove-purchase/2011102652080">Mariners Cove and Marina at Main Beach</a>. Industry sources were expecting $20 million for Mariners Cove, which has been in the hands of receivers since late 2009.The site comprises 1.15 hectares of land lease and 2.8 hectares of seabed lease, with 102 marina berths. Mariners Cove is located in a prime position on the Broadwater of the Gold Coast and is adjacent to the Marina Mirage Retail precinct and Palazzo Versace Hotel.The site sold through public tender through receivers McGrath Nicol. Settlement is due on December 24, 2011.
 
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The amount Stockland will receive following the sale of its half stake in 52 Martin Place, Sydney to joint owner QIC Global Real Estate. The sale price is above the 30 June, 2011 book value of $167.7 million. The landmark A-grade office tower has 33 floors including the Channel 7 news studio and a retail arcade linked to the Martin Place railway station. The property is a leasehold title, with 33% of the area leased back to the NSW state government until 2110.The transaction is part of Stockland’s ongoing asset sale program, the proceeds of which are being used to fund investment in the share buy-back currently underway as well as growth in Stockland’s core businesses.
 
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The size of the rural property <a href="https://www.propertyobserver.com.au/rural/sean-howard-sells-upper-murray-holding-for-about-%246-million/2011103152139">Mount Falcon Station in the Upper Murray region</a> of southern NSW sold by entrepreneur Sean Howard for about $6 million. Howard had owned it since 1998. It includes a five-bedroom 1934 homestead set in a mature garden and recently carried up to 1,350 breeding cattle. It has had three owners over most of the past century including the Falkiner family, who sold in 1964. It changed hands again in 1998 when offloaded by the Olympic runner John Landy and his brothers, Richard and Tony. John Landy was the governor of Victoria from 2001 to 2006. The property is close to the junction of the Murray and Tooma rivers near Corryong. Howard, one of the founders of OzEmail, spends his time in the retirement and aged care sector.
Know of a commercial sales deal? <a href="mailto:news@propertyobserver.com.au" target="_self">Let us know</a> to be included in next week's listing.
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