One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

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>

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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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EXPERT OBSERVER
After weeks of <a href="https://www.insideretail.com.au/news/macquarie-report-says-up-to-60-big-w-stores-may-need-to-close-201903" target="_blank">speculation</a>, Woolworths has confirmed it will close 30 of its Big W stores in Australia, as well as two distribution centres. This represents <a href="https://www.woolworthsgroup.com.au/page/media/Press_Releases/woolworths-group-market-update/" target="_blank">about 16%</a> of its 183-strong network.
The obvious culprit, and the one identified by many analysts, is online shopping.
As one <a href="https://www.news.com.au/finance/business/retail/woolworths-announces-closure-of-30-big-w-stores-after-slow-profit-improvement/news-story/f8ff7222fded595ec627dd7d9a45e7e8%5D" target="_blank">industry analyst explained</a>: “The physical department store footprint is likely to continue to shrink as online sales penetration increases further.”
Online shopping is certainly a factor, but it is not the primary reason for Big W’s troubles.
Though online shopping in the department and variety stores category is growing fast (by 29.6% in 2018 according to the NAB <a href="https://business.nab.com.au/wp-content/uploads/2019/03/NAB-Online-Retail-Sales-Index-January-19.pdf" target="_blank">Online Retail Sales Index</a>, the total amount of money spent online by Australian shoppers – A$28.8 billion – is still only about about 9% of what is spent in traditional bricks-and-mortar stores.
<hr>
<a href="https://images.theconversation.com/files/267227/original/file-20190402-177163-y5vxk8.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/267227/original/file-20190402-177163-y5vxk8.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Online retail sales growth by industry in the 12 months to December 2018, <a class="source" href="https://business.nab.com.au/nab-online-retail-sales-index-quarterly-update-december-2018-33296/" target="_blank">NAB Online Retail Sales Index</a>
More important to Big W’s woes is the growth of the so-called category killers, which are disrupting the entire discount department store business model. It a threat to which Big W has failed to respond with the same agility of rival <a href="https://www.cmo.com.au/article/658773/kmart-turnaround-king-takes-chairman-post-gyg/" target="_blank">Kmart</a>.
<h2>Departed departments</h2>
If you’re old enough you may remember getting your wall paint mixed in the Big W hardware department, or buying car accessories from its automotive department. There was also a large “sight and sound” department filled with televisions, sound systems, videos and CDs. Discount department stores truly lived up to the idea of a variety store.
<iframe src="https://www.youtube.com/embed/fT8i7hpLGDs?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
‘You know the price is low, everyday’: A television advertisement for Big W in 1994.
But the profitability of all these market segments for department stores has been eroded by the growth of “<a href="https://www.insideretail.com.au/news/category-killers-breaking-hearts-everywhere-201709" target="_blank">category killers</a>” – retailers specialising in the same product categories.
Examples include Office Works for office supplies, Rebel for sports equipment, JB Hi-Fi for audiovisual, Super Cheap Auto for car parts, and Bunnings for hardware. All have taken market share from the discounters. These stores compete on price and have superior range, and shoppers trust the expertise of staff working in a specialist shop.
<h2>Speed of change</h2>
The popularity of category killers explains in large part the stagnant sales and talk of store closures throughout the department store segment.
Harris Scarfe and Best and Less <a href="https://www.insideretail.com.au/news/greenlit-brands-holds-off-disaster-201810">are reportedly</a> struggling. The Reject Shop’s net profit for the first half fell from an expected A$17 million to less than <a href="https://www.afr.com/business/retail/reject-shop-shares-plunge-40pc-after-profit-downgrade-20181017-h16qqu" target="_blank">A$11 million</a>. <a href="https://www.afr.com/business/retail/david-jones-interim-profits-plunge-39pc-20190221-h1bisz" target="_blank">David Jones’</a> half-year profit fell 39% to A$36 million. <a href="https://www.powerretail.com.au/multichannel/myer-1h2019-results/" target="_blank">Myer</a> reported a 2.8% drop in total sales for the same time frame.
Wesfarmers expects earnings from its department store brands Kmart and Target to fall about 8% this financial year. Eight Target stores closed during the first half of the financial year, with another six closures expected by the <a href="https://www.wesfarmers.com.au/docs/default-source/asx-announcements/2019-half-year-report-(incorporating-appendix-4d).pdf?sfvrsn=0" target="_blank">end of June</a>.
<h2>Cutting losses</h2>
Kmart is considered Australia’s discount department store “darling”. A decade ago it was on life support. Under the direction of chief executive Guy Russo <a href="https://www.afr.com/business/retail/wesfarmers-sticking-with-its-strategy-despite-setbacks-for-target-and-coal-20160624-gpr87n" target="_blank">it doubled it profits by 2015</a>.
A key to the turnaround was recognition it needed to quickly reduce or exit categories it could not compete in, such as hardware, automotive, fishing, consumer electronics and sporting goods. It has <a href="https://www.news.com.au/lifestyle/home/interiors/meet-the-woman-behind-discount-retailers-cheap-homewares/news-story/c3b87320cea433d89b2d894f34438c4a" target="_blank">turned to</a> homeware, soft furnishings, manchester and kitchenware.
There appears no such swiftness in Big W’s moves.
Big W’s chief executive from January to November 2016, Sally MacDonald, reportedly wanted to closes stores and make other major changes but <a href="https://www.afr.com/business/retail/woolworths-to-shut-30-big-w-stores-20190401-p519jr" target="_blank">was thwarted by the board of Woolworths Group</a>, owner of Big W.
Such differences in strategic vision explain why MacDonald left the role within the year.
This process of “right-sizing” therefore seems long overdue. To what extent it makes Woolworths a sustainable business, however, will depend on future response to changing circumstances.
What is certain is that discount department stores aren’t what they used to be; and if they want to be around in future, they probably can’t be what they are now.<img src="https://counter.theconversation.com/content/114630/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/gary-mortimer-1322" target="_blank">Gary Mortimer</a>, Associate Professor in Marketing and Consumer Behaviour, <a href="http://theconversation.com/institutions/queensland-university-of-technology-847" target="_blank">Queensland University of Technology</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-trouble-with-big-w-dont-blame-online-for-killing-discount-department-stores-114630" target="_blank">original article</a>.
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jrobinson-rf4aSBido9

The trouble with Big W: don't blame online for killing discount department stores

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The South Yarra office market is set to double in size in the next four years in the most significant expansion this increasingly sought after commercial precinct has seen in recent history. 
According to Colliers International research, there is 80,000 square metres of upcoming space in the South Yarra commercial market over three projects, with a pipeline until 2023. 
The largest injection of new office space will be an additional 50,000 square metres over four buildings at the new-look Jam Factory, being developed by Newmark Capital.
An estimated 4,000 square metres will be added at Chapel Plaza (402 Chapel Street) and another 25,000 square metres at Goldfields Group’s 627 Chapel Street which will comprise 25,000 square metres of office space.  
“No substantial office building over 4,000 square metres had been delivered in South Yarra in the last six years – all development in the last five years has been in the Forrest Hill precinct, so as new office space comes online, it joins a thriving, mostly residential, development market in this area,” Rob Joyes, Colliers International National Director of Office Leasing, said. 
“In recent years, large occupiers of 4,000 square metres-plus have had to focus on other city fringe areas such as Richmond and Cremorne due to a lack of options in South Yarra.  
“Led by the rejuvenation of the Jam Factory, these new projects will open the door for large occupiers to position themselves in this tightly held precinct.” 
According to Colliers International, South Yarra’s net lettable area was 97,000 square metres at March 2019. 
“An 80,000 square metres investment in new office space will result in the doubling of this boutique commercial precinct and turn it into one of the next city fringe office hot spots,” Colliers International Research Manager Sarah Walker said. 
“An analysis of historic office demand in the CBD shows that for every new head of population, 0.9 square metres of office space is demanded. Up until about 2015, office supply in the Melbourne CBD broadly kept pace with population growth.
“Since that time, however, the increase in population has outpaced CBD supply growth. This has contributed to the exceptionally low vacancy we are recording in both the CBD and City Fringe markets. 
“Based on ABS forecasts, as well as Colliers’ own analysis of future office supply, this supply/demand imbalance is forecast to become even greater and the undersupply in the CBD will need to be met by alternative markets. 
“Tenant location preferences are continually moving towards greater emphasis on accessibility to public transport and amenity for staff. City fringe markets, particularly those serviced by a train station, are best positioned to capture this demand.  
“Vacancy in the city fringe is currently at just under 4.5%, and has been sub-4.5% for two years now. Coupled with the very low vacancy in the CBD, and a forecast for continued low vacancy, upcoming supply in the City Fringe is expected to be met favourably by Melbourne occupiers.” 
Joyes said office leasing teams were seeing a strong desire from businesses to cater to the lifestyle of their staff.
“People want to work, live and play in close proximity, and South Yarra offers not only easy access to the CBD for meetings but an abundance of after hours entertainment and amenity for employees to enjoy,” he said.
“The Jam Factory in particular is set to capture this demand and be snapped up by savvy businesses looking to attract and retain the best staff. This once in a generation development will truly unlock the full potential of this commanding 1.8 hectare site in one of Melbourne’s fastest growing and most affluent suburbs.  
“Occupiers of the Jam Factory will also be able to take advantage of a new dedicated pedestrian connection linking the development to South Yarra railway station, one of the busiest train stations outside the Melbourne CBD.” 
Jonathan Bradhurst , Newmark Capital Project Director, said The Jam Factory was at the focal point of South Yarra’s vibrant lifestyle precinct fueled by innovation, creative industry and its young and affluent demographic.  
“South Yarra continues to evolve, on trend, with an exciting lineup of new apartments, food halls, restaurants and gyms in the pipeline,” Bradhurst said.
“Businesses across the spectrum of culinary, physical fitness and wellness and entertainment see the value of bringing their services to South Yarra to reach the millennial, educated demographic that makes up nearly 50% of the neighbourhood’s residents.
Jonathan Isaacs, of the Clemenger Group, said South Yarra was an ideal fit for businesses looking to provide work-life balance in close proximity to the CBD and an abundance of amenity. 
“We’re proud to base some of the Clemenger Group’s businesses in South Yarra because our employees love to work here,” he said.
“Our agencies get to form a part of the creative precinct along Chapel Street, and the competitive overheads mean we can invest in contemporary, exciting office fit-outs that reflect the businesses they house.”
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j.ballantyne1990-6AQqhLzZaK

South Yarra office market set to double with record injection of capital

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The Gold Coast tourism market continues to drive economic growth and support demand for retail activity, according to a new market report.
Approximately 25% of investment sales in Queensland in 2018 were Gold Coast retail assets, said the Colliers International release. 
And $465 million in sales were recorded in the Gold Coast retail market in 2018, with yield spreads up to 100bp compared to Sydney and Melbourne. 
Steven King, Director-in-Charge of Colliers International Gold Coast said international tourism and education sector may receive a boost at the back of the lower Australian dollar, which will ultimately support demand for retail property and increase demand for hotel accommodation. 
“We have seen $500 million worth of investment in new retail developments in 2018, such as the $470 million Westfield Coomera, which is a testament to owners’ optimistic outlook for the retail sector in the Gold Coast over the short to medium term,” said King. 
“Low regional unemployment, population growth and consistent net interstate migration is supporting the retail activity and demand for future retail centres. Residential hot spots like Ormeau, Oxford and Nerang are desired locations for future retail development. 
“Consistent growth in airport operations is on the back of increasing tourism activity which is boosting the retail sector. Per the Gold Coast Airport Master Plan 2017, the Gold Coast Airport will service 16.6 million passengers by 2037, an average growth rate of five% per annum.”
The author of the report, Research Manager at Colliers International Karina Salas, said residential sector is set to benefit from strong forecast population growth and solid infrastructure investment pipeline. 
<a href="https://www.propertyobserver.com.au/images/2019/4/8/GOLD%20COAST%201.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/8/GOLD%20COAST%201.jpg" alt="">
“Median house price on the Gold Coast is $100,000 more affordable than Noosa, and $50,000 more affordable than Brisbane,” said Salas.
“The affordability factor along with the unique lifestyle makes Gold Coast an attractive location for owner-occupiers and investors.” 
<a href="https://www.propertyobserver.com.au/images/2019/4/8/GOLD%20COAST%202%20.jpg" target="_blank">Click here</a> to enlarge
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/8/GOLD%20COAST%202%20.jpg" alt="">
“Looking at other markets, value proposition of investment in the Gold Coast office market is solid, considering the current prime-yield spread of 200bp compared to the Brisbane market,” said Salas. 
“The performance of the leasing market is also gradually strengthening, as demand for office accommodation continues to gradually increase and support a consistent tightening of vacancy rates. 
“When it comes to the industrial sector, Yatala precinct will remain a popular location for industrial operators looking for large space requirements of 2,000 square metres and above. This is because Yatala offers affordable leasing and investment opportunities compared to other industrial precincts in Brisbane. 
“The net face rents in Yatala are usually 15 to 20% cheaper than Brisbane industrial precincts, while land values could be up to 35% more affordable compared to other industrial precincts in Brisbane. 
“Demand in this precinct is coming from the growing transport and logistics sectors, considering the excellent accessibility which is further supported by $2.5 billion M1 upgrade masterplan within the Logan corridor and Yatala.”
<a href="https://www.propertyobserver.com.au/images/2019/4/8/GOLD%20COAST%203.png" target="_blank">Click here</a> to enlarge
<img src="https://www.urban.com.au/images/2019/4/8/GOLD%20COAST%203.png" alt="">
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Solid Gold Coast economy boosting retail sector: Colliers International 

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The former St Joseph’s Convent of Mercy – The Old Convent - in Broken Hill is set to be auctioned by Colliers International. 
The property, located at 232 Lane Street, Broken Hill is a key part of the area’s history.
At its peak, St. Joseph’s Convent of Mercy was home to over 70 nuns, boasting a school for girls and boarding facilities and was the main convent in the area.
After being destroyed by a fire in 1979, the prominent heritage asset received extensive restoration and renovation. 
The L-shaped parcel of land, with dual frontages onto Lane Street and Sulphide Street has a substantial site area of 6,350 square metres.
It is expected to sell for upwards of $1 million. 
“This is a prime re-positioning opportunity for the complex which comprises six separate buildings including 11 self-contained residential units, an auditorium, function room, commercial grade kitchen and generous on-site parking,” said Clarence Chan at Colliers International.
The property is 900 metres north-west of Broken Hill’s main Town Centre and 1 kilometre from the Broken Hill Railway station. 
The Old Convent, Broken Hill will be auctioned on May 9.
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Broken Hill's Old Convent to go under the hammer

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An inner-city warehouse at South Yarra in Melbourne’s inner east, scheduled for April 4 auction, now has a $3.3 million asking price.
Located directly opposite the Como Centre and Vogue Plaza the 56 River Street property, comprises a single level, 235 square metre brick building on a 324 square metre site zoned Activity Centre 1.
It has street and laneway access as well as on-site parking.
According to marketing agents, Teska Carson’s Luke Bisset and Matthew Feld, the property offers an owner-occupier opportunity and/or office conversion or development opportunity.
"The purpose of Activity Centre zoning is to encourage a mixture of uses and the intensive development of the activity centre as a focus for business, shopping, working, housing, leisure, transport and community facilities, and to deliver a diversity of housing at higher densities to make optimum use of the facilities and services," the agents said.
The property will be sold subject to a short term lease at $50,000 per annum net. 
The warehouse sold for $3.75 million through Teska Carson in 2016 to an intending owner-occupier reflecting $10,135 a square metre.
It has been offered by the Williams family from South Yarra.
The family is headed by Lyn Williams, who has managed the estate of the artist Fred Williams, and is executive director of Maraquita Pty Ltd, the family company.
Opposite the Como Centre, the 56 River St property is a 250 square metre building on 371 square metres, with two frontages and on-site parking.
At the time the premises had a short-term tenant returning $44,950 a year.
It had sold at $82,000 in 1977.
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jonathanchancellor-7SQnKwU6yx

Loss likely on South Yarra warehouse 

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Hong Kong based, Compass Offices, a serviced office and co-working space provider, has announced the opening of it's new Barangaroo business centre.
The new business centre is at the 21st floor of the Symantec Building, located at 207 Kent Street.
A short walk from the Barangaroo Waterfront, this office building gives businesses a number options from open plan workstations to private offices in all sizes.
The Compass Offices Barangaroo site is located near King Street Wharf and Darling Harbour with many of the external offices providing views of Darling Harbour, the Barangaroo Waterfront, and the Sydney Harbour Bridge.
It is a three minute walk to Wynyard Train Station.
“To meet the ever-evolving needs of burgeoning businesses, our hybrid workspaces combine an open and inviting business-casual habitat within a professional and corporate environment,” says Hans Leijten, CEO of Compass Offices.
“We are very happy to see our sixth centre opening in the Australian market. We continue to expand this innovative concept to further locations, thus making it available to even more businesses,” he concluded.
 
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Compass Offices expands to Barangaroo

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A City of Sydney owned asset, located at 73-75 William Street Darlinghurst, has been offered to the market.
Located close to Hyde Park on the city fringe, the three level, 908 sqm building is currently unoccupied and zoned B4 mixed-use.
Miron Solomons, Matt Pontey and Nick Lumley of Colliers International are managing the sales campaign. 
 “This building is a complete blank canvas, which will undoubtedly attract interest from developers, investors, value-add specialists and owner-occupiers alike. We are likely to see interest from businesses such as restaurants, boutique hotels, co-working spaces or even a corporate HQ for a medium to large firm,” said Miron Solomons, National Director, Investment Services at Colliers International. 
Matt Pontey, Manager, Investment Services added “This is a value-add proposition; specialists will be attracted to this well-located, quality asset.” 
“There is strong demand for commercial property in the city fringe, evidenced by the sale of Watters Gallery which we sold at auction two weeks ago for $5.5 million.” 
73-75 William Street, Darlinghurst is for sale via and expressions of interest campaign closing May 13.
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City of Sydney selling Darlinghurst building

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Australian Unity has appointed Chris Burnell to the role of portfolio manager for its $1.57 billion healthcare property trust (HPT).
Mr Burnell (pictured below) joins Australian Unity from Vicinity Centres where he was the finance manager – planning and analysis and previously acting financial controller for its wholesale funds business.
Mr Chris Smith, head of healthcare property at Australian Unity said Chris’s proven track record in financial management for multi-billion dollar investment funds and his valuable contribution to the delivery of business strategy are both skills that will support HPT in its next phase of growth.
Mr Burnell said he was attracted to the role at Australian Unity because of the organisation’s mutual not shareholder structure, its long-term focus and HPT’s long and impressive track record.
<img src="https://www.urban.com.au/images/2019/4/8/CB_headshot.png" alt="">
Prior to Vicinity, Mr Burnell was fund accountant for Colonial First State Global Asset Management. He is a member of the Chartered Accountants Australia and New Zealand and holds a Bachelor of Business in Accounting and Finance from the University of Technology, Sydney.
Mr Burnell commenced in the role on 8 April 2019.
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Australian Unity appoints Chris Burnell to manage healthcare property trust

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The first business signed the lease to their new purpose-built facility in Aura Business Park.
Situated at 1/22 Hancock Way, the 295 sqm property, was leased to local business Auramotive Mechanical Solutions, and they signed a tenancy term of 3 + 3 years.   The asset was marketed and leased by Ray White Commercial Northern Corridor Group’s Sales and Leasing Executive Jordan Hayes and Commercial Principal Michael Shadforth.   Mr Hayes said the tenant had such confidence in the future growth of Aura and the business it will bring, that he changed his trading name to Auramotive Mechanical Solutions, a year before the park even opened.   “The functional layout and ability to customise certain inclusions were the key factors that made this the building of choice for the lessee,” he said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/19/180366-Lot1148-View01.jpg" alt="">
“Activity is evident across the business park with eight buildings now under construction. “This is set to increase considerably with 25 of the 30 lots in stage one sold and over half of stage two’s 33 lots already under contract.” 
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First lease signed at Aura business park

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A fully-tenanted standalone Coolum commercial asset has sold for $1.1 million.
Ray White Commercial Noosa and Sunshine Coast North Property Consultant Tracey Ryan, held the listing for the building.
Situated at 12 Williams Street, the purchaser was a local investor.
<img src="https://f.datasrvr.com/f1/419/45945/Coolum_22.JPG">
The property, which comes with a 358 sqm building area and 620 sqm site area, is currently occupied by Coolum Wellness Hub, Rory Williamson School of Dance and Evolve Fitness.
Ms Ryan said the exceptional standalone building was in the heart of Coolum Beach’s retail professional services area and was opposite the proposed new 43-townhouse Allura development.
“The asset was originally purpose-built for an owner-occupier and comes as two-levels, with off-street parking and a goods lift, with the possibility of being converted to passenger,” she said.
“The three offices include air-conditioning and individual amenities. The level one spaces could be reconfigured to suit a variety of businesses, including medical, if the lift was converted." “All businesses are long-standing, were sold with 3+3-year leases in place, and delivers $71,000* net return p.a." “The long-term owner was looking to liquidate the asset and relocate to Brisbane. The local investor was looking for a standalone with strong leases in place and an upside,” Ms Ryan concluded.
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