Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&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.

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 international 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

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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The rental yield a private investor will receive on The Palms restaurant at 213-215 Blackburn Road, in Mt Waverley, bought for $2.03 million at auction. The property was marketed by Hamish Burgess and Ben Baines form Colliers International. The 485-square-metre freehold property stands on land measuring 1,015 square metres and is currently tenanted to the restaurant for 10 years with the lease commencing on Feb 2012. Burgess says three strong bidders pushed the price well above the reserve. “The sale was a leaseback from the vendor, who will stay on to run the business, which has thrived in this strip since 1996,” he says.
 
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How much Savills Australia is expecting for a 548-square-metre office and warehouse property at Derrimut in Melbourne’s western industrial heartland. The property is located within the West Park Industrial Estate. The 152 Derrimut Drive property comprises a two-level, 88-square-metre office and a 466-square-metre warehouse facility with three-phase power and a fully secured yard.  According to market agents Chris Telley and Luke Jesson of Savills, the property would ideally suit a smaller owner-occupier looking for opportunities in the Derrimut precinct.
 
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The price being sought for the premises of Harris Farm Markets at 126-128 Pittwater Road in Gladesville, Sydney. <a href="https://sydney.burgessrawson.com.au/pol/property/search.asp?f_propertyID=1861029&amp;xsl=4211&amp;f_st=1&amp;f_ct=2&amp;f_ps=2&amp;f_propertyType=%27Retail%27" target="_blank">The property is being sold by Simon Staddon from Burgess Rawson</a> and is leased to independent fruit and vegetable retailer for 10 years to September 2021 with renewal options. The property has net income of $675,000 per annum plus GST. It is being sold by private treaty.
 
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How much a private investor has paid to acquire a 126-square-metre office suite in the Atlas building within Norwest Business Park in Baulkham Hills.  The building’s latest sale was negotiated by CBRE’s Jason Smith and Kieran Bourke on behalf of developer Capital Corporation. The Atlas building was completed in May 2011, and features two adjoining structures, a six-storey office tower and parking for 740 vehicles. Major occupants include Virgin Active, Bell Partners, Crowe Horwath and CABE Developments. Baulkham Hills is located approximately 31 kilometres north-west of the Sydney CBD.
 
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<img src="/images/stories/11point5m.gif">
 
The price paid for a freestanding supermarket tenanted by Coles at 4 Oscar Street (Corner West Street) in Umina Beach. Coles has signed a new 20-year lease on the building with eight renewal options of five years each to 2072. Net income is $755,597 per annum plus GST. The price was paid at auction in Sydney, with the campaign led by Shaun Venables from Burgess Rawson. It previously sold for $3 million in November 2002.
 
 
 
 
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lschlesinger-FZcF9M3vE6

Commercial hammer prices

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The estimated net annual rent that national distributor of fibre optic and copper-based infrastructure hardware Optical Solutions Australia (OSA) will pay to lease new Queensland headquarters at Murarrie in Brisbane’s east. OSA has taken out a five-year lease with renewal options at 2/9 Archimedes Place, Murarrie, in a deal negotiated by Ray White Industrial Milton Principal Stephen Ferguson. Ferguson says OSA has leased a freestanding 1,277-square-metre building, which included 889 square metres of high-bay warehousing with container-height roller door access.
 
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<img src="/images/stories/30k.gif">
The estimated gross rental rate that the Sunshine Coast Vein Clinic will pay to lease an office suite as its new surgery in the seaside village of Peregian Beach. Sunshine Coast Vein Clinic has secured a two-year lease with renewal options at Suite 5, 8 Kingfisher Drive, Peregian Beach in a deal negotiated by David Brinkley of Ray White Commercial Noosa. The 72-square-metre office is owned by a local investor.
 
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<img src="/images/stories/870.gif">
The net rent per square metre that law firm Turks Legal will pay to lease a 121-square-metre office in the Citigroup Centre at 2 Park Street Sydney. The lessor is Trust Company Limited (The GPT Group and Charter Hall). The office is in the premium grade landmark office tower in the mid-town precinct and lease term is seven years commencing August 1, 2012. The deal was negotiated by Rowan Humphreys of Tenant Representation Services acting for Turks Legal and Cameron Williams of Colliers International acting for the building’s owners: the GPT Group and Charter Hall. 
 
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The estimated annual rent per square metre that eStore Logistics, a company involved in the e-retail sector, will pay to lease an office-warehouse of 10,960 square metres in Melbourne’s south east. Colliers International agents Nathan Bingham and Stephen Newsham secured the new lease at 185-189 Boundary Road in Laverton North. The property was vacated by Airroad Logistics in early January following a move to larger premises of 24,000 square metres.
 
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<img src="/images/stories/270k.gif">
The estimated rent that international industrial machinery manufacturer Atlas Copco Australia Pty Ltd will pay to lease a warehouse complex in Townsville’s major commercial precinct. Atlas Copco has taken out a 10-year lease with five renewal options of five years each.  The company is leased a 4,433-square-metre block comprising a modern tilt-up concrete office and warehouse at 108-110 Enterprise Street. The complex was recently purchased by a local investment syndicate at 108-110 Enterprise Street, Bohle, in a deal negotiated by Graeme Russell of Ray White Commercial Townsville. The warehouse has a gross floor area of 1,981 square metres.
 
 
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Commercial leasing: Watch this space

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<img src="/images/stories/390k.gif">
 
The price Queensland Renewable Energy paid for two units at Coolum Beach on the Sunshine Coast. Its has purchased units at 25 Quanda Road, Coolum Beach, in a deal negotiated by Tracey Ryan from Ray White Commercial Noosa. The units are each 88 square metres and suitable as the business requires extensive pallet racking. One was offered for sale by a private vendor and the other by an interstate developer.
 
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<img src="/images/stories/8percent.gif">
The yield for the Beca House office building at 21 Pitt Street in Auckland, NZ, which was recently bought by a private New Zealand investor for NZ$55 million. The deal was negotiated by Warren Hutt of CBRE and is the city's largest commercial transaction in two years. The building's major tenant (with naming rights) is Beca Corporate Holdings, which occupies more than 14,400 square metres of space on a nine-year lease that commenced in 2010. The building is 10 storeys and has a net lettable area of 16,800 square metres.
 
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<img src="/images/stories/200m.gif">
The price Queensland Investment Corporation paid for Noosa Civic shopping centre on the Sunshine Coast. The shopping centre, on 31.7-hectare activity site, is "one of the key sub-regional shopping centres on the Sunshine Coast," QIC global managing director Robert Carter told the Australian Financial Review. QIC bought the centre from Commonwealth Games chairman Mark Stockwell.
 
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<img src="/images/stories/7point8m.gif">
The price a private investor paid for 4,631-square-metre ground-floor retail property at 126-128 Pittwater Road, Gladesville, in inner north-west Sydney. Harris Farm Markets has a 10-year lease for 1,505 square metres and is paying rent of $675,000 net per year. The remainder of the building comprises parking. The sale price represents a gross rental yield of 8.65%.  The deal was negotiated by Simon Staddon from Burgess Rawson and Steffan Ippolito from Oxford Commercial. 
 
 
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Seven out of this week’s top 10 sales of the week were in New South Wales, with Victoria rounding out the other three.
1. <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/surry-hills-millionaires-show-a-flair-for-pricey-warehouse-conversions/2012022653560">5 BENNETT PLACE, SURRY HILLS, NSW</a>, four-bedroom house, sold at auction on Saturday, February 25 by McGrath Estate Agents for $5.71 million
2. 35 WYBALENA RD HUNTERS HILL, NSW, five-bedroom house, sold at auction on February 25 by McGrath Estate Agents for $2.72 million
3. 21 SILVERDALE ROAD, EAGLEMONT, VIC five-bedroom house, sold at auction on February 25 by Miles Real Estate for $2.34 million
4. 25 MOORAMIE AVENUE, KENSINGTON, NSW, four-bedroom house, sold at auction on February 21 by Bradfield Cleary Real Estate for $2,275,000
5. 14 EVANS COURT, TOORAK, VIC, three-bedroom house, sold at auction on February 25 by RT Edgar Toorak for $2.24 million
6. 27 DUXFORD ST PADDINGTON, NSW, three-bedroom house, sold before auction on February 25 by McGrath Estate Agents for $2.05 million
7. 11 STANTON ROAD, HABERFIELD, NSW, four-bedroom house, sold before auction by McGrath Estate Agents for $2.05 million
8. 76 TAMBOURINE BAY ROAD, RIVERVIEW, NSW, four-bedroom house, sold before auction on February 25 by McGrath Estate Agents for $2.03 million
9. 13 ALFRED STREET, BRONTE, NSW, four-bedroom house, sold before auction on February 25 by GoodyerDonnelley Real Estate for $1,955,000
10. 4 GREEN STREET, CAMBERWELL, VIC, four-bedroom house, sold at auction on February 25 by Jellis Craig Hawthorn for $1,951,000
 
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po-LsXgBTHBmX

Top 10 sales of the week: RP Data

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New South Wales and Victoria were tied on RP Data's top 10 sales of the week this week, with four apiece. The other two slots were filled by a four-bedroom South Australian house at number three, and a six-bedroom Queensland house that rounds off the list at number 10.
1. <a target="_blank" href="https://www.realestate.com.au/property-house-vic-albert+park-109081541">148 BEACONSFIELD PDE ALBERT PARK, VIC</a>, five-bedroom house, sold at auction on February 18 by Hocking Stuart Albert Park for $3.01 million
2. 2 OSWALD ST MOSMAN, NSW, four-bedroom house ,sold at auction on February 18 by McGrath for $2,911,000
3. 21 PEMBROKE STREET, KENSINGTON PARK, SA, four-bedroom house, sold at auction on February 17 by Toop &amp; Toop for  $2.74 million
4. 56 CENTRAL PARK RD MALVERN EAST ,VIC, four-bedroom house, sold at auction on February 18 by Bennison Mackinnon Armadale for  $2.68 million
5. 21 ILUKA ROAD, PALM BEACH, NSW, four-bedroom house sold on February 14 by McGrath for $2,359,000
6. 1 FARLEIGH GROVE, BRIGHTON, VIC, three-bedroom house, sold at auction on February 18 by RT Edgar Brighton for $2,222,000
7. 4 INGLETHORPE AVENUE, KENSINGTON, NSW, five-bedroom house, sold on February 14 by GoodyerDonnelley Real Estate for $2.1 million
8. 83 LOCKSLEY ROAD, IVANHOE, VIC, five-bedroom house, sold at auction on February 18 by Jellis Craig Ivanhoe for $2,025,000
9. 6 EURABALONG ROAD, BURRANEER, NSW, five-bedroom house, sold at auction on February 18 by Highland Property Agents for $2,015,000
10. 15 CAPSTAN PLACE, MACGREGOR, QLD, six-bedroom house, sold at auction on February 18 by LJ Hooker Sunnybank Hills for $1.95 million
 
 
 
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<img src="/images/stories/75.gif">
Roughly how much Chinese bathroom supplies importer and distributor Sunny Group Pty Ltd will pay per square metre to lease a new office and warehouse in Noble Park in Melbourne’s south-eastern suburbs. The company has agreed terms on a new five-year office at 7/450 Princes Highway, which comprises a brand-new 2,750-square-metre office and high-bay warehouse building. The deal was negotiated by Savills Australia industrial executive Daniel Kelly along with colleague Lynton Williams. Kelly says the tenant was also interested in the buildings’ capacity to achieve the good fortune attributed to feng shui design criteria. The lessor is a Melbourne-based private investor. 
 
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The estimated net rent per square metre per annum that law firm Middletons will pay to lease 5,400 square metres of space over five floors in 1 O’Connell Street in the Sydney CBD in a seven-year lease deal. The law firm will also receive a rental incentive as part of the lease agreement, which begins in September. The five floors are currently being refurbished after the exit of long-time anchor Clayton Utz. The building is owned by Lend Lease’s Australian Prime Property Fund and the Abu Dhabi Investment Authority. Accounting and consulting firm Crowe Horwath has taken 3,570 square metres, Thomsons Lawyers has leased 2,400?square metres and law firm Clifford Chance has leased 1,190 square metres. About 20,000 square metres remains available to lease in the building.
 
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<img src="/images/stories/320.gif">
The net annual rental rate per square metre that Childcare software solutions provider QikKids will pay to lease a 650 square metres of office space at 20 Metroplex Avenue in Murarrie in the eastern suburbs of Brisbane. The deal was negotiated by Jones Lang LaSalle’s Chris Davis and Sam Barr, who are seeking tenants for the 1,056-square-metre single-level office. Davis says the proximity to QikKids’ current office (next door to the office) and single-level floor plate were the key factors, “particularly given their previous tenancy spanned three levels and didn’t provide functional space”.

 
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The annual rent that Trican Well Service Ltd, an international pressure pumping company headquartered in Calgary, Canada, will pay to lease 343 square metres of office space at 196 Wharf Street in Spring Hill next to the Brisbane CBD. The lease was negotiated by Jones Lang LaSalle’s Sam Barr and new fringe leasing director Don Mackenzie on behalf of Calidad Property Group, which has owned the building since mid-2011. The building has been extensively refurbished and now has only one floor remaining.
 
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<img src="/images/stories/136k.gif">
The annual rent that tenants are paying on a 7-Eleven in Woodridge, a suburb of Logan City in south-east Queensland. The 7-Eleven, located at 1 Kingston Road and measuring 5,072 square metres, is part of a <a target="_blank" href="https://www.propertyobserver.com.au/retail/six-queensland-7-elevens-to-tempt-commercial-property-investors-at-march-auction/2012030453591">batch of six Queensland 7-Eleven service stations that are being  marketed by Sam Hatcher and Ben McGrath from Jones Lang LaSalle for auction on March 22.</a> All properties come with new 15-year leases with three options of five year renewals and guaranteed 4% annual rent increases.
 
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<img src="/images/stories/270k.gif">
The annual rent that Kinetic Group will pay to lease 588 square metres of office space on a five-year lease at 196 Wharf Street in Spring Hill next to the Brisbane CBD. The lease was negotiated by Jones Lang LaSalle’s Sam Barr and new fringe leasing director Don Mackenzie on behalf of the Calidad Property Group, which has owned the building since mid-2011. The building has been extensively refurbished and now has only one floor remaining. Barr says Spring Hill is currently experiencing positive net absorption of office space.  “With tightening vacancy in the Brisbane CBD, immediate surrounding suburbs like Spring Hill are proving attractive alternatives for companies,” he says.
 
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As expected, the Reserve Bank has left interest rates unchanged at 4.25% for the second successive monetary policy meeting.
There were no surprises this time around, <a target="_blank" href="https://www.propertyobserver.com.au/economy/economists-unanimously-tip-rates-to-remain-on-hold-until-may-bloomberg/2012022653559?utm_source=Property+Observer+List&amp;utm_campaign=15a57d9559-March_6_RBA&amp;utm_medium=email">with all 23 economists polled by Bloomberg last week</a> forecasting the RBA to leave the cash rate on hold.
In his statement following the announcement, RBA governor Glenn Stevens said “housing prices have shown some sign of stabilising recently, after having declined for most of 2011, but generally the housing market remains soft”.
The Australian dollar fell slightly to $1.061 against the US dollar following the announcement. It was trading at $1.064 just before the announcement, having opened at $1.067. You can track the dollar <a target="_blank" href="https://www.fxstreet.com/rates-charts/currency-rates/">here</a>.
Laing+Simmons general manager Leanne Pilkington says debt refinancing efforts in Europe provided the “necessary reprieve for the RBA to stay on the sidelines, because from a domestic perspective, the two-speed economy is still seeing the states less impacted by mining experience softer conditions”.
“It appears the RBA has taken the view that the international economic landscape will provide a sufficient platform for our mixed-bag national economy to weather an unchanged interest environment.
“However, from a housing market perspective, now that the major banks have clearly demonstrated their unwillingness to be guided by the Reserve Bank, mortgage holders can no longer breathe a sigh of relief.
“Certainly after the interest rate increases the banks slugged their customers with last month, despite the RBA not moving on rates, there is no justification for them doing so again. But we’ll have to wait and see if they are again willing to face the public backlash,” she says.
Commonwealth Bank economist Peter Dragicevich said ahead of the announcement that while the bank continued to have a further rate cut “pencilled in for May, with the overall domestic economic picture remaining positive, the global macro backdrop stabilising and the risks of a full-blown banking crisis in Europe abating, there is a risk that we may be at the end of the RBA’s easing cycle”.
ANZ borrowers will have to wait until Friday (March 9) when the bank makes its independent interest rate decision to find out whether there will be another interest rate adjustment out of cycle with the RBA.
Other lenders may also wait to see what ANZ does before making any decisions.
Since the February out-of-cycle rate rises the major banks have repeatedly said that there is now a disconnect between the RBA’s cash rate and mortgage lending rates due to higher funding costs.
The RBA decision to leave rates on hold follows the two rate cuts in November and December, which helped lift business and consumer confidence. The Westpac-Melbourne Institute Consumer House Price Expectations Index rose to its highest level since April last year, the first gain since January 2010.
According to Westpac, more than 53% of Australian economic data has improved in the past eight weeks, up from 40% in December.
However, housing credit growth has remained subdued (up just 0.5% in January), new home sales fell by 7.3% in January to the lowest reading in 11 years and retail sales rose by just 0.3% in January after sliding by 0.1% in December.
The release of GDP figures for the December quarter on Wednesday as well as February unemployment figures (both sets of data from the ABS) will be factors in the next rate decision on April 3.
 
 
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RBA leaves rates unchanged

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<img src="/images/stories/915k.jpg">
How much a vacant development site in the north Canberra industrial precinct of Mitchell has been sold for at auction. The 2,997-square-metre property at 173 Flemington Road, Mitchell, was sold by Ray White Commercial Canberra’s Andrew Smith and John Price on behalf of Albina Nominees Pty Ltd.  “We had solid interest in the site, which is approved for uses including bulky goods, offices and light industry,” says Smith.
 
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The asking price on a 5,000-square-metre office and warehouse facility, to be constructed at the Salta Properties developed Proximity Industrial Estate at Sunshine in Melbourne’s western industrial zone. The development is being marketed by Savills industrial director David Norman, who says the 33 Endeavour Way property is for sale, fully constructed. He says the vendor, Melbourne-based developer Nikstan Constructions, might also consider a pre-lease arrangement at about $80 a square metre. Norman says the building will feature a clear-span, high-clearance warehouse of circa 4,780 square metres with multiple roller doors, loading docks and canopies, a generous office component and 60 car parking spaces. He says construction is due to begin shortly, with a completion date of late 2012 or early 2013.
 
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The price unlisted property fund ISPT paid for a 50% share of the Brisbane Myer Centre. The fund bought the half share from the CFS Retail Property Trust to further expand its already strong position along the Queen Street Mall in the Brisbane CBD. The sale was brokered by <a href="https://www.propertyobserver.com.au/commercial/commercial-sales-limp-to-%241.4-billion-aggregate-in-march-2012-quarter-cbre/2012032854044" target="_blank">Simon Rooney, Australian head of retail investments for Jones Lang LaSalle</a>.
 
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The price paid for an 18,000-square-metre high-density residential development site in the Molonglo Valley in Canberra that can accommodate up to 180 apartments and townhouses. The sale of land at section 47, John Gorton Drive was negotiated by Shane Radnell and Tim Mutton. The site was bought by Empire Building Group, with the vendor being the Land Development Agency.
 
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How much a commercial free-range broiler farm about 58 kilometres north of Adelaide near Mallala has sold for in a deal negotiated by Jesse Manuel from Colliers International Rural &amp; Agribusiness. “The free-range broiler farm known as ‘Banero’ was being marketed online only when an approach was made by a motivated private buyer,” says Manuel.  Banero Broiler Farm currently operates as a free-range farm and comprises a total land area of approximately 50.49 hectares.  The broiler operation consists of six climate-controlled tunnel sheds and is contracted to Baiada Poultry, Australia’s largest chicken meat processor.
 
 
 
 
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The time the Burnett family has held their Buderim property before deciding to sell. In the Sunshine Coast, 157 Burnett Street is a 13,100-square-metre block of land with views over the Sunshine Coast from Bribie Island to Maroochydore. The original 1895-built homestead still sits on the property. Barry Ashby of Savills Sunshine Coast has been tasked with selling the development site, which is zoned as mixed housing.
 
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The price one doctor paid for a medical centre in Ashwood. The two-storey, 288-square-metre building sits on 211 square metres of land. “We had solid interest in the auction of the property with more than 30 inspections and three bidding parties on the day,” says agent Ryan Amler from  Ray White Commercial Oakleigh. A local general practitioner bought the recently renovated building with the intention of being an owner-occupier.
 
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The price paid for a block of 18 fully leased residential units, including two medical suites, in Sydney’s Balmain. The property, which earns a yield of 4%, was sold by CBRE’s Frank Oliveri and Peter Vines after more than 100 buyer inquiries.
 
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The net passing rent of a 3,517-square-metre warehouse in Wetherill Street in Sydney’s Silverwater. A buyer paid $3.8 million for the property, which is currently leased to tool manufacturing and plastic moulding company LJ Wallace Group until December 2014. CBRE’s Cameron Grier and Michael O'Neill sold the property at its May 9 auction with three interested bidders.
 
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The current rent of a consulting room in Adelaide’s Norwood. The 174-square-metre building comes with six main rooms and staff amenities and sits on a 556-square-metre block of land, with parking for seven cars. The property is currently leased to physiologists in a three-year lease with two extension options. They use the building as consulting rooms. CBRE’s Will Brown and Ben Younger will bring the property to auction later this month.
 
 
 
 
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The gross rent per annum that software development company Blue Chilli will pay to lease a 396-square-metre office at level 2, 50 York Street, Sydney. The office block is described as a character-filled warehouse style commercial strata building. The two-and-a-half year lease was negotiated by Anthony Harris of Ray White commercial office leasing on behalf of the lessor, Avard Pty Ltd.
 
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The estimated net annual rent that Everlasting Watertanks Pty Ltd will pay on a new three-year office and warehouse lease at Mulgrave in Melbourne’s south-eastern suburbs in a deal negotiated by Savills Australia. The 15 Glenvale Crescent property comprises a modern 785-square-metre premises, which according to leasing agents Savills Australia’s Daniel Kelly and Lynton Williams will cater to the company’s consolidation and offer significant cost efficiencies. The lessor is a Melbourne-based private investor.
 
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The net face rent per square metre that fashion store Supre to lease a 600-square-metre industrial property at 9-11 Springvale Road, Springvale. The two-year lease was negotiated by Sasan Misaghian and Jamie Stuart from Colliers International. The lease has three options of five-year renewals. The lessor was John Cappellin and the previous tenant was liquor group BWS. According to Misaghian, Supre has taken up a prominent site next to the corner of Princes Highway and Springvale Road (Spaghetti Junction).Stuart said the site was leased in less than a month, with the premium rental achieved with minimal incentive.
 
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The estimated net rent per annum net that industrial business consultant the Phalanx Group will pay on anew five-year office lease at Mt Waverley in Melbourne’s south-eastern suburbs.  The 8/14 Lionel Road property comprises a modern 550-square-metre premises, which leasing agents Savills Australia’s Daniel Kelly and Lynton Williams say will cater to the company’s expansion and offer significant cost efficiencies. The lessor is a private investor based in Melbourne.
 
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The gross rent per annum that pharmacy chain Priceline will pay to lease a shop at 128 Exhibition Street in the Melbourne CBD. The 10-year lease was negotiated by Ben Tremellen from Colliers International for around 433 square metres of ground-floor space. According to Tremellen the lease set a new rental record for the strip. “The retail scenery on Exhibition Street is, without a doubt, changing. This move by Priceline – as well as a restructure of the tenancy mix at Southern Cross, which includes Australia Post currently fitting out their new flagship premises and another new national retailer joining the building within a similar timeframe – has activated this retail strip.”
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