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
As expected, the Reserve Bank Board decided to leave the cash rate unchanged at 1.50%.
This represents the twenty-second consecutive meeting (last change in August 2016) that rates have been on hold. The previous longest run of steady rates was sixteen consecutive meetings in 1995/96.
There were a number of changes/ additions to the statement following the July meeting. Previously, the Governor had noted the growth outlook being “a bit above 3 per cent in 2018 and 2019”.He repeated that line. But previously  he made no inference as to that impact on capacity. In today’s statement he asserts that the growth outlook “should see some further reduction in spare capacity”. This was borne out in the discussion on the labour market when he noted that the unemployment rate was likely to fall to around 5 per cent over the next couple of years.
Recall that in the May Statement on Monetary Policy, the Bank revised its unemployment forecast from 5 ¼ per cent (end 2018) and 5 ¼ per cent (end 2019) to 5 ½ per cent (end 2018) and 5 ¼ per cent (end 2019). The forecasts that will be updated in the August Statement on Monetary Policy which will be released on August 10 are now likely to include a forecast that the unemployment rate by end 2020 will be 5 per cent. A reasonable criticism of the Bank’s unemployment forecasts and rhetoric around increasing wages growth was that a low-point of 5 ¼ per cent was still comfortably above the generally accepted NAIRU for Australia of 5 per cent. With the unemployment rate staying above the NAIRU, it was questionable as to whether the expected lift in wages growth would occur.
Our view, based on offshore evidence, is that the NAIRU in this cycle is likely to be below 5 per cent, so even with this new lower unemployment forecast, it still seems a big call to expect sustained upward pressures on wages growth.
In July, the Bank noted the increase in short-term wholesale interest rates over recent months. However, it provided little guidance as to the implications. “It remains to be seen the extent to which these factors persist”. Fortunately, that sentence has been deleted, but, still, no real guidance is provided in the current statement. It is observed that retail deposit rates have not risen and some lenders have increased mortgage rates by small amounts. It would have been helpful for the Bank to have given its own view on the sustainability of this move and any implications from the associated tightening in financial conditions.
The Governor notes that “the drought has led to difficult conditions in parts of the farm sector”, but has not clarified whether these developments have any significant implications for risks and growth forecasts.
The August Statement has the benefit of an update on inflation developments. The June quarter inflation report was slightly below market expectations but not sufficient to alter the Bank’s views. Having said that, a literal interpretation of the sentence “the central forecast is for inflation to be higher in 2019 and 2020 than it is currently” would be that the forecasts for inflation in the August Statement on Monetary Policy are set to be lifted. The forecasts for underlying inflation in the May Statement on Monetary Policy were for underlying inflation to be 2 per cent in 2018 and 2 per cent in 2019. That outlook seems consistent with the June inflation report. We would be surprised if the forecast for underlying inflation in either 2018 or 2019 is lifted in the August SOMP.
One clue to this puzzle is that the Governor points out that headline inflation to the September quarter is likely to fall to 1 ¾ per cent. As such, the forecast for headline in the May SOMP of 2 ¼ per cent in 2018 and 2019 indicates a lift from the expected September reading. Such fluctuations in the headline number are unlikely to have any implications for policy.
In July, the Governor referred to “nation-wide measures of housing prices are little changed over the past six months”. The CoreLogic national index was actually down 1% and this index is now down by 1.2%. That sentence has not been repeated in the August Statement, although the easing in Sydney and Melbourne housing markets is confirmed. The Governor has also dropped the comment that “some further tightening of lending standards by banks is possible” and now makes the less controversial comment that lending standards are tighter than a few years ago.
There has been a significant change in the global commentary. In July, the Governor noted “the Chinese economy continues to grow solidly”. In this statement, that is replaced with “growth in China has slowed a little, with the authorities easing policy”.
Conclusion
Westpac has long held the view that the RBA cash rate will remain on hold over the course of 2018 and 2019.
In his statement, the Governor does not provide a convincing commentary that wage pressures can be expected to lift; the housing slowdown and the associated wealth effect will not be headwinds for the economy; any evidence that inflation pressures are likely to build; and why global developments are not pointing to some challenges for Australia. Consequently we see no reason to be persuaded to change our view that rates will remain on hold.
Bill Evans is the Chief Economist for Westpac
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bevans-rYk9SxEa4r

RBA remains on hold; with no apparent change in sentiment: Bill Evans

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The Westpac building in historic Parramatta as been sold.
The <a href="https://www.commercialrealestate.com.au/property/264-270-church-street-parramatta-nsw-2150-2014154192" target="_blank">Church Street </a> premises, comprising 660 square metres, sold for $14 million at a yield of 4.3 per cent.
It was sold through Khoury &amp; Partners, Parramatta to UPM Pacific, directed by Chinese investors from Knoxfield in Melbourne.
Last time it sold was in 2012 for $7.1 million, an almost 100% increase in six years for the heritage building (pictured above). The 2012 price represented a net yield of 7.5 per cent, with income of $536,815 a year.
Westpac sold it in 2000 for $3.03 million, with little growth during its next ownership, selling at $3 million in 2007.
Located at 264-270 Church Street, the property was originally offered fully leased to Westpac until 2015, with two further five-year options.
The building, totalling 1275 square metres, is on one of the suburb's busiest retail corners.
Agents through the years have suggested the listing was an A-grade bank investments.
The site has been occupied as a bank since 1874.
Earlier this year it was reported Westpac Bank extended its long-term 506sq m commercial lease with the new deal due to commence in March 2020.
The gross annual rent for the property is $1000 a square metre for seven years with options, and incentives.
Khoury &amp; Partners' Jon Race and Anthony Khoury executed the deal.
Banks have been somewhat difficult propositions for landlords in recent times across the country.
However a Bayswater retail property in Perth could revisit its banking roots, after being sold under the hammer earlier this month to a local community bank franchise.
Originally constructed as a banking chamber in 1975, the premises were sold off by the Bank of NSW, aka Westpac,, in 1997 at $210,000.
The 83 Whatley Crescent property was purchased by Bayswater Community Financial Services Limited.
It was bought at auction for $1.06 million.
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j.ballantyne1990-6AQqhLzZaK

Westpac Parramatta premises sell for $14 million

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Up Property's iconic Morris Moor development will soon be home to CLIK Collective.
It will be the only co-warehousing and co-working space designed around the needs of ecommerce businesses in Melbourne, with the 6,000 sqm space set to meet the specific needs and growth of local online retailers.
Formerly known as Kensington Collective, CLIK Collective developed the co-warehousing concept after identifying co-working spaces for ecommerce retailers, that also included tailored warehousing spaces, loading bays, photography studios and showroom facilities, did not exist.
With over 80,000 ecommerce business in Australia, CLIK Collective Founder and Director Harry Kempler, explains that it was the well-connected location and planned surrounding onsite amenities that drove them to choose Morris Moor as the new location for their co-warehousing space.
CLIK Collective plans to provide purpose-built spaces, facilities and services for ecommerce businesses based in Melbourne's South East, assisting in the development of more than 60 new innovative businesses for the Moorabbin community.
<img src="https://www.urban.com.au/images/2018/7/31/Up%20Property_Click%20Collective%20Morris%20Moor%20Render%202.jpeg" alt="">
"Collaborative economies are making their way into the logistics industry by offering unique and clever solutions that are both efficient and environmentally responsive. We're passionate about small businesses and coworking environments and look forward to supporting local online retailers on a large scale and for the opportunities Morris Moor will bring to the local community," Kempler added.
Opening in September, CLIK Collective Moorabbin will offer a range of individually secure warehouse spaces from 12 sqm through to 300 sqm.
The business is one of four already confirmed for Morris Moor, which Up Property has revealed will see the transformation of the 60-year-old Philip Morris manufacturing site.
Up Property Managing Director, Adam Davidson, explains that they are excited to welcome CLIK Collective who are bringing the unique co-warehousing concept to Morris Moor.=
Construction began this month on Morris Moor's office building, located at the corner of Chesterville and Cochranes Road. Boasting 5,257 square metres of office space across two levels, the building has the potential to house up to six tenants ranging from approximately 250 sqm to the whole building.
Up Property have secured their first commitment within the office space.
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A new take on co-working: co-warehousing comes to Moorabbin's Morris Moor

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EXPERT OBSERVER
Who can concentrate under these conditions?
<img src="https://images.theconversation.com/files/228128/original/file-20180717-44103-1ms7ein.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="File 20180717 44103 1ms7ein.jpg?ixlib=rb 1.1"> 
Open-plan offices have taken off because of a <a href="https://www.sciencedirect.com/science/article/pii/S0272494413000340">desire</a> to increase interaction and collaboration among workers. But an innovative <a href="https://www.propertyobserver.com.au/http://rstb.royalsocietypublishing.org/content/373/1753/20170239" target="_blank">new study</a> has found that employees in open-plan offices spend 73% less time in face-to-face interactions. Email and messaging use shot up by over 67%.
The study is the first to track the impacts of open-plan offices using objective measures of communication. It used electronic badges and microphones to monitor interactions among employees and tracked changes in email use.
The findings build on previous research, which has found, for instance, open-plan work environments <a href="https://www.sciencedirect.com/science/article/pii/S0272494413000340" target="_blank">compromise employees’ ability</a> to focus and concentrate on their work.
Why go open plan?
Theoretically there are good reasons to move to an open-plan office. Our social environment <a href="http://psycnet.apa.org/record/2000-13324-007" target="_blank">plays a big role</a> in our ability to be proactive and motivated.
And success in modern workplaces is often driven by how well individuals <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/joms.12024" target="_blank">interact</a> with each other and with the organisation.
Research has shown that the time employees spend on “collaborative activities” has “<a href="https://dialnet.unirioja.es/servlet/articulo?codigo=5543898" target="_blank">ballooned by 50% or more</a>” in the past two decades.
Workplaces that facilitate more frequent and higher-quality contact with others have been shown to have improved <a href="https://www.propertyobserver.com.au/https://www.jstor.org/stable/2392545?casa_token=TA0oRq0WNiEAAAAA:hXZ9j6DPo2nz3vJb1aS5W2SQR39YdMnMdtuFAm9INVhZ01etTstg6PcwFOX9MZUh0ieX8ZUwtK0Uhw_LM6jwN-CLP_MEB8jI_JBzUWSl5p6hnNOW4VA&amp;seq=1#page_scan_tab_contents" target="_blank">communication and collaboration on tasks</a>, <a href="https://www.propertyobserver.com.au/http://journals.sagepub.com/doi/abs/10.1177/0146167201278002" target="_blank">job satisfaction</a> and <a href="https://www.sciencedirect.com/science/article/pii/S0272494414001182" target="_blank">social support</a>.
The design of the workplace significantly influences this, by supporting or detracting from interdependent work.
Building a strong sense of community <a href="http://www.wired.co.uk/article/we-work-startup-valuation-adam-neumann-interview" target="_blank">has been</a> a key factor in the success of the coworking space provider WeWork. This has been largely achieved through the physical work environment – clean spaces, narrow hallways, communal kitchens and the like.
Privacy and concentration are critical
But despite the pursuit of collaboration in workplaces, the need for concentration and focused individual work is also increasing.
And <a href="https://www.emeraldinsight.com/doi/abs/10.1108/978-1-78714-577-120171011" target="_blank">research</a> shows that when employees can’t concentrate, they tend to communicate less. They may even become indifferent to their coworkers.
Knowledge work <a href="https://www.propertyobserver.com.au/http://journals.sagepub.com/doi/abs/10.1177/0018726701547004" target="_blank">requires</a> employees to attend to specific tasks by gathering, analysing and making decisions using multiple sources of information. When any of these cognitive processes are interrupted, inefficiency and mistakes <a href="https://www.sciencedirect.com/science/article/pii/S0003687011000986" target="_blank">increase</a>.
Being able to focus on a task without interruption or distraction is an essential <a href="https://www.sciencedirect.com/science/article/pii/S0003687011000986" target="_blank">foundation</a> for effective work.
But <a href="https://www.sciencedirect.com/science/article/pii/S0090261617302000" target="_blank">research</a> suggests that poor design can have unintended consequences – increasing the cognitive load on workers through high density or low privacy, both of which increase distraction.
Why open plan doesn’t necessarily lead to collaboration
In many open-plan offices, the drive for increased interaction and collaboration comes at the expense of the ability to focus and concentrate.
When distraction makes it hard for employees to focus, cognitive and emotional resources are <a href="https://www.sciencedirect.com/science/article/pii/S0090261617302000" target="_blank">depleted</a>. The result is <a href="https://onlinelibrary.wiley.com/doi/abs/10.1002/hrm.20004" target="_blank">increasing</a> stress and errors, undermining performance.
When employees can’t concentrate on their work, their <a href="https://www.anzam.org/wp-content/uploads/pdf-manager/1687_ANZAM-2014-293.PDF" target="_blank">desire</a> to interact and collaborate with others is reduced.
In addition, <a href="https://journals.aom.org/doi/abs/10.5465/amr.2016.0240" target="_blank">new research</a> suggests that increased crowding in the workplace and low levels of privacy lead to defensive behaviours and strain workplace relationships.
Other aspects of workplace design, such as views of nature or access to daylight, can replenish <a href="https://www.sciencedirect.com/science/article/pii/S0090261617302000" target="_blank">cognitive resources</a> even in the presence of distractions.
An aesthetically pleasing environment may provide an experience that is <a href="https://link.springer.com/chapter/10.1007/978-1-4757-4425-5_5" target="_blank">restorative</a>.
Additionally, <a href="https://journals.aom.org/doi/abs/10.5465/amj.2016.0248?casa_token=1B194dHoBzEAAAAA:Z32URe5SJO3Q_t34iM77xEhxgj7i9Mrs8X60fdnzQAiJc96YN70bKxH1uY9aCOL5LC_HfHEbT3Dh" target="_blank">research</a> has shown that aesthetically pleasing workplaces can help create trust within organisations.
Getting the balance right
Emerging <a href="https://www.anzam.org/wp-content/uploads/pdf-manager/1687_ANZAM-2014-293.PDF" target="_blank">research</a> has shown that individuals view similar work environments differently. Rather than a one-size-fits-all approach, as is traditional in open-plan design, work environments should provide various options that support employees working effectively.
Evolving <a href="https://www.propertyobserver.com.au/https://www.emeraldinsight.com/doi/abs/10.1108/14630011111136830" target="_blank">models</a> of workplace design are seeking to achieve this, by providing different zones for different types of work and different needs.
However, the effect of shared desk arrangements in these types of environments requires further <a href="https://www.sciencedirect.com/science/article/pii/S0003687016302514" target="_blank">investigation</a>.
Many employers are heavily <a href="https://www.propertyobserver.com.au/https://www.tandfonline.com/doi/abs/10.1080/09613210412331313025" target="_blank">focused</a> on driving collaboration and interaction at the expense of privacy and concentration. This has negative outcomes for both productivity and work relationships.
Organisations should focus on providing workplaces that support the requirements for privacy and focus, as well as interaction and collaboration.
<img src="https://counter.theconversation.com/content/99756/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">To achieve this, greater emphasis needs to be placed on both visual and auditory privacy, particularly the use of acoustic treatments, as well as the layout and appearance of the workplace as a whole.
Libby Sander is the Assistant Professor of Organisational Behaviour at the Bond Business School
This article was originally published on The Conversation.
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A new study should be the final nail for open plan offices

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Queensland property group CFMG Capital has unveiled their latest investment opportunity from its $200 million CFMG Land &amp; Opportunity Fund, seeking to raise $3 million for a 100-lot community between Brisbane and the Gold Coast.
The new project, Elevate, will be located on a 5.7-hectare site at Ormeau Hills which was recently acquired for its strategic positioning in the thriving development corridor between Brisbane and the Gold Coast.
The CFMG Land &amp; Opportunity Fund is an unlisted managed investment scheme that invests in the development of residential land subdivision projects on a case-by-case basis. The Fund currently holds investments in seven different projects with a gross sales value of more than $200 million.
The Product Disclosure Statement (PDS) for the Elevate project indicates a 12% fixed return per annum over the two-year fixed investment term.
CFMG Capital General Manager Andrew Thomson said the property was settled in June 2018, with a development approval for 96 allotments already in place, with plans to apply for amendments which will allow for Elevate's 100 total lots.
Mr Thomson said the Land &amp; Opportunity Fund was a powerful tool for investors seeking exposure to Queensland's residential land market.
"The Fund's fixed 12% per annum return is quite attractive in a low interest rate environment and only achievable through a combination of our internal development expertise, a commitment to putting returns to investors ahead of development profits and the expectation that Queensland land market will continue to strengthen over the next two years," he said.
"Investors also receive the return on their investment on a fixed maturity date - typically after 18 to 36 months.
"In contrast to volatile property investments based on assumptions, CFMG Capital's fund duration and fixed return policy gives investors a healthy level of confidence that the returns will be delivered."
Mr Thomson said managed investment schemes like the CFMG Land &amp; Opportunity Fund were a sensible alternative for investors looking for property exposure but not the risks associated by directly buying a single property that is heavily leveraged.
"The Fund is based on exposure to dozens of blocks of land in a subdivision or across multiple projects, providing diversification over direct residential property which typically limits investors to one asset," Mr Thomson said.
"CFMG Capital is also a solid investment due to the strict criteria we adhere to before acquiring land to maintain value over the long term," Mr Thomson said.
"Our entire business model is based around securing land with proximity to a major capital city, existing and proposed competing land estates and key planned infrastructure projects.
"We also take population growth and demographics of the locality into account, and ensure investors can secure opportunities in areas with employment opportunities, lifestyle choices like schools, transportation and recreation," he said.
CFMG Capital's Elevate site in Ormeau Hills is 25 kilometres north of the Gold Coast CBD and 40 kilometres south of the Brisbane CBD, and is within one kilometre of the existing Ormeau Town Centre which features a Woolworths, IGA, service centre, health care and a range of specialty stores.
The future North Ormeau Town Centre is also currently under construction 500 metres away with Coles confirmed as the major tenant.
Ormeau Hills has also earned it title as a growth area from the demand generated by the proximity of major transport infrastructure such as the M1 and Gold Coast bus routes, nearby open space and parkland and key employment nodes including the 127 hectare Yatala Enterprise Area, which is projected to inject $1 billion into the local economy over the next decade.
Stage one subdivision works on the Ormeau land are planned for October 2018 and will carry on through 2019, with registration of allotments taking place April 2019 and final stage one settlement later in the year.
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CFMG unveils Ormeau Hills investment offer with fixed 12% return

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Australia’s main CBD markets have recorded a decline in office vacancy rates throughout the first half of 2018, with Sydney and Melbourne CBDs continuing to exhibit their strength as vacancy rates in both markets fell to their lowest levels in more than 10 years.
The findings come in the Property Council of Australia’s (PCA) release of its mid-2018 Office Market Report. 
Here's Savills Australia's analysis starting with the national outlook, then state by state:
National overview
Savills Australia’s Associate Director for <a href="http://www.savills.com.au/research/australian-research.aspx" target="_blank" title="Savills Research">Capital Strategy and Research</a>, Shrabastee Mallik, said there had been a clear difference in performance between the Sydney and Melbourne CBDs and the other main CBD markets, with the resource-reliant Perth and Brisbane office markets feeling the effects of the mining downturn until about six months ago.
“A renewal in economic growth globally in 2017 saw a renewal in demand for Australian resources and subsequent rises in commodity prices, leading to significant growth in corporate profits, particularly in the mining sector,” Ms Mallik said.
“We are now seeing this having a positive effect on the previously struggling Perth and Brisbane office markets, with subsequent falls in vacancy rates in these markets.”
Ms Mallik went on to say that a turnaround in these markets was already evident, with further improvements in 2018 likely when activity on the ground and various forward-looking economic indicators were considered.
“Low rents and high incentives in Perth and Brisbane are providing the impetus for businesses to acquire space in the CBDs, with recentralisation likely to be a key theme in the short to medium term,” she said.
“While there is concern that the Sydney and Melbourne CBD office markets appear to have peaked in terms of performance, when we consider forward-looking economic indicators, such as economic growth forecasts – particularly in the services and education sectors, which are key market-drivers for these markets – these fears would appear to be largely unfounded."
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Source: Savills
New South Wales
In the first half of 2018, the Sydney CBD office vacancy rate fell to its lowest level since the Global Financial Crisis in 2008, after a steady decline for the past eight quarters.
The strength of the market has been further highlighted by face rents rising to record high levels across all grades.
“We have seen a large number of tech and IT firms centralising and organically growing in the CBD after decentralisations due to cost pressures during the 2008 to 2010 period,” Savills NSW State Director for <a href="http://www.savills.com.au/services-and-sectors/leasing/office-leasing.aspx" target="_blank" title="Office Leasing">Office Leasing</a> in Sydney, Rob Dickins, said.
“These firms are now profitable and chasing and trying to retain talent in a very competitive industry sector."
“We have obviously also seen the emergence of co-working groups such as WeWork, Regus and Spaces, among others, which are now significant occupiers of space in the CBD.”
Mr Dickins said demand from smaller occupiers was still evident, with a spike in leasing activity in the sub-1,000sq m category, driven largely by the opportunity and capital cost savings in speculatively fitted tenancies.
“While net absorption has been low, this is largely as a result of reduced available space in this category, due to the absorption associated with government projects, and the redevelopment and change-of-use projects currently underway,” he said.
Victoria
The Melbourne CBD experienced a reduction in vacancy rate as a result of tenant migration to higher-quality office space, predominantly A Grade space, as well as some tenants taking on expansion space. 
Savills Australia’s State Director for <a href="http://www.savills.com.au/services-and-sectors/leasing/office-leasing.aspx" target="_blank" title="Savills Office Leasing">Office Leasing</a> in Melbourne, Mark Rasmussen, said that the Melbourne CBD office market continued to maintain strong growth across all office building grades and all sectors.
“Continuing falling vacancy due to lack of supply and steady demand has resulted in maintaining the trend of increasing rentals and lower lease incentives,” he said.
“The strong economy, positive market sentiment and continued migration – of tenants to the CBD and the increasing population – is underpinning demand."
“The co-working sector, education market and growth across Melbourne’s increasingly diversified market is adding further upward pressure to rents.”
Mr Rasmussen said the fourth quarter of 2019 would see the market peak, with record low vacancy rates and rental rates continuing to climb after decades of remaining “stubbornly low”, when compared to most other Australian marketplaces.
“While the 2020 and 2021 new supply numbers are locked in and significant, the pent-up demand will see the new higher rent levels being maintained, with increases in incentives back to 2016 and 2017 levels likely,” he said.   
Queensland
Following a slight spike in the total office vacancy rate in Brisbane’s CBD in December 2017, vacancy rates dropped after strong leasing activity in the first six months of 2018. 
“With rents and incentives in the Brisbane CBD now very similar to the surrounding fringe office market, we have seen a number of recentralisations from large firms in the finance and insurance sectors consolidating space in the CBD, as they take advantage of large floor plates in refurbished prime grade buildings,” Savills Australia’s State Director for <a href="http://www.savills.com.au/services-and-sectors/leasing/office-leasing.aspx" target="_blank" title="Savills Office Leasing">Office Leasing</a> in Brisbane, John McDonald said.
South Australia
Adelaide’s CBD office vacancy rate appears to be in a holding pattern, as the “flight to quality” trend continues to partially offset the migration from potentially non-competitive space, to prime-grade space concentrated within specific buildings.
Increasing competition on the supply side for prime-grade stock had previously led to a rise in backfill vacancy within secondary space as these tenants relocated but this trend seems to be subsiding, as the gap between prime and secondary vacancy rates begins to shrink. 
This observation comes on the back of owners looking to reposition buildings on a floor-by-floor basis to retain existing tenants.
Savills Australia’s Director for <a href="http://www.savills.com.au/services-and-sectors/leasing/office-leasing.aspx" target="_blank" title="Savills Office Leasing">Office Leasing</a> in Adelaide, Adam Hartley, said the majority of demand for office space in Adelaide was for prime-grade space, although the market was seeing lower levels of take-up.
“We are starting to see signs that incentives are tapering off, particularly for prime or refurbished space,” he said.
“We have seen examples of tenants securing a net incentive of around 35 percent – this time last year, that figure would have been around 40 percent.”
Mr Hartley said he was expecting to start seeing a shift in the technical vacancy rate in the second half of the year.
“There have been a number of economic metrics that have constrained tenant decision-making throughout the past nine months, including the state election and the last stage of abolishing stamp duty cuts for non-residential property transfers being finalised,” he said.
“On that note, there are several green shoots emerging, which will begin to benefit office take-up in the CBD – defense announcements being key, as well as general public infrastructure investment that is underway."
“These industries bode well for take-up of engineering or project space in the short-term,” he concluded 
Western Australia
Perth’s office leasing market is unlikely to see any further increases in the technical vacancy rate in the medium term, as the market is no longer facing the high volume of incoming new supply that it was through 2015 and 2016.
While the period of tenants rationalising space is over, the “flight to quality” trend remains a key driver in the market, as does recentralisation back to the CBD.
Savills Australia’s Director for <a href="http://www.savills.com.au/services-and-sectors/leasing/office-leasing.aspx" target="_blank" title="Savills Office Leasing">Office Leasing</a> in Perth, Shelley Ritter, said demand for prime-grade space was continuing to drive a reduction in the overall vacancy rate, and it was becoming “increasingly challenging for larger tenants to secure contiguous floor options, especially in premium-grade space”. 
“The differential between prime and secondary space that began to emerge mid-2015 has never been this wide, a trend which is beginning to drive down incentives, particularly in premium and A Grade space,” she said.
Ms Ritter said there had been some “marked improvements” in the state’s economy, with long-term outlooks suggesting a return to a more sustainable investment level in regards to the mining and resource sector. 
“Some of the state’s biggest and best-known mining producers have announced commitments to new projects, and investment in emerging sectors such as lithium is rising,” she said.
“We know that there is circa 70,000sq m in active leasing requirements currently in the market for new or expansion space from some of these large occupiers.
“These companies will play a significant role in office take-up for the next three to five years, with indirect organic demand expected to be created on the back of this from other industries, such as finance, legal, property and business services.”
Ms Ritter said a conservative outlook would suggest that the weight of this demand, together with a “somewhat cautious” development pipeline, will contribute to a decline in vacancy rate.
“Our view, however, is that this will potentially occur much faster than the market anticipates,” she said.
Australian Capital Territory
Canberra’s office market offers stable rental growth unlike any other office market in Australia, due to the strong government sector presence, according to Pip Doogan, Savills Australia’s Director of <a href="http://www.savills.com.au/services-and-sectors/leasing/office-leasing.aspx" target="_blank" title="Savills Office Leasing">Office Leasing</a> in Canberra.
“While other markets are often subject to economic cycles, the nature of the government tenants in Canberra means that lessors are protected against significant rises and falls in rents,” she said.
Savills Australia data shows that on average, net face rents for Canberra’s A Ggrade assets grew 2.8 percent throughout the 12 months to June 2018, largely in line with the 10-year Compound Annual Growth Rate (CAGR) of 1.95 percent per annum. 
“Interestingly, rental growth across B Grade assets was more pronounced, with net face rents growing 8.5 percent throughout the past financial year, far exceeding the 10-year CAGR of 0.7 percent per annum,” Ms Doogan said.
Ms Doogan noted that a slight increase in incentives across secondary-grade assets has meant that growth on an effective basis has been flat. 
“Based on leasing deals we are currently looking at and witnessing, there appears to be a divergence in rental growth in prime and secondary grade buildings,” she said.
“Given the wide range of buildings available in Canberra (based on quality), lessees are able to negotiate more favorable terms on secondary-grade space, while the pendulum remains firmly in the landlord’s favour, particularly in those sub-precincts with record low vacancy rates.”
<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/2018/8/3/office%20vacancy%203.jpg" alt="">
Source: Savills
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Savills on what the future holds for Australia's office market

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Miron Solomons, Matt Pontey and Nick Lumley are selling 10 Oxford Street, Woollahra, home to St Claude's restaurant, via a public auction on August 30 2018.
St Claude's is a contemporary French bistro in the heart of Woollahra which was originally opened as Claudes restaurant in 1976, forming part of Sydney's 'golden restaurant age'. It reopened as St Claude's in 2015.
"This area has transformed from one of Sydney's prime shopping strips into a suburb awash with top restaurants, wine bars and cafes," said Miron Solomons, National Director, Investment Services at Colliers International.
"This is an opportunity to purchase a quality freehold asset with a strong 5x5 lease and iconic tenant in one of Sydney's most affluent areas."
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Woollahra institution is on the market

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Franzé Developments has proposed plans for the biggest new hotel project in the Geelong region for two decades.
The burgeoning expansion of one of Australia's fastest growing regional cities has been bolstered with Franzé Developments securing planning approval from the Department of Environment, Land, Water and Planning for its $150 million Geelong development – the largest mixed-use project in the region.
Located at 44 Ryrie Street within the Geelong Activity Centre Zone, the 2,700 square metre gateway site will comprise 1,000 square metres ground floor retail, 7,400 square metres office space, 24 residential apartments and a 180 bed hotel, all connected by a highly activated street level plane with public access.
In a coup for Geelong's hotel and tourism sector, global hotel operator The InterContinental Group signed a 20-year management agreement to operate the 180 bed hotel in late 2017. The $75 million Holiday Inn Hotel &amp; Suites in Australia and the largest new hotel project in the region in almost 20 years.
Paul Franzé, Founder and Managing Director of Franzé Developments says he is thrilled to receive approval for the gateway site as Geelong develops into the region's epicenter for retail, tourism and employment due to its strong population and economic growth.
"Our vision for the Ryrie Street site is to deliver a truly mixed-use project that responds to the Central Geelong Action Plan which will see Geelong evolve from its manufacturing roots to a city of culture and innovation.
Geelong is now one of Australia's fastest growing regional cities, with population expected to grow by more than 150,000 people in the next 20 years, and the urban environment and amenity needs to respond accordingly.
"Geelong has a diverse and strong economy with over 17,000 businesses and a highly skilled labour force. It continues to attract new residents and investment due to its livability and proximity to Melbourne, combined with increasing employment opportunities and affordability."
Architectus, the design studio behind 1 Bligh Street, Sydney and 383 La Trobe Street, Melbourne (in collaboration with architect Ateliers Jean Nouvel), has been appointed as the project design team, with Hansen Partnership managing the project's urban planning.
It is located on a prominent corner at the intersection of Ryrie and Fenwick Streets.
"The design of 44 Ryrie Street draws upon the history of both the city and the site. The materiality, rhythm and scaling of the buildings reference the iconic wool stores of Geelong, and the grain of the city's rich heritage fabric. Creating an active mixed use development that incorporates hotel, residences, office and a vibrant retail ground plane, the project stiches seamlessly into the adjacent cultural precinct and builds on the investment in the area to become a gateway to Geelong's city centre," says Matthew Smith, Managing Principal at Architectus.
The orientation of the site forms a 90 metre northern frontage to Ryrie Street with a physical split, creating a public thoroughfare linking Ryrie Street to Cuzens Place. 
Colliers International, in conjunction with MP Burke Commercial, is managing the leasing campaign for the 7,400 square metre office space across ten levels with a generous double-height lobby. The apartments are expected to start selling in October 2018.
The site, which was home to John Orchard Furniture and was previously an intercity bus depot, was purchased from John Orchard for $7 million in 2017.
Demolition is underway and construction is scheduled to commence in late 2018, with completion expected in mid 2020.
The Holiday Inn Hotel is scheduled to open in 2020 and will target the longer stay segment of the tourism market. The property will include an all-day dining restaurant and bar, swimming pool, gym, parking and 300 square metres of meeting facilities, including a function room for 250 people.
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$150 million Geelong gateway development gets the green light

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Adelaide, the capital city of SA, has begun it's recovery on the HTW commercial office property clock for August, according to valuation firm Herron Todd White latest report.
Meanwhile, Echuca has dropped a notch to a declining market position from the previous peak of market point in HTW’s Office property clock in June. Canberra however has transitioned to a starting to a starting recovery position from its bottom of the market position in June.
At the bottom of the property cycle, Cairns joins Townsville and Launceston. Others in the same position are Darwin, Perth, Brisbane and Hobart.
<a href="https://www.propertyobserver.com.au/images/2018/8/6/August%20Office%20Property%20Clock%20HTW.JPG" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2018/8/6/August%20Office%20Property%20Clock%20HTW.JPG" alt="">
 
"There has been a revolution in office real estate and the way it’s adapting to the demands of the modern workspace have a direct impact on owners, tenants and their workforce," the report stated.
"Some markets have thrived as a result, while others have failed to keep up," they concluded
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Adelaide's office market has begun its recovery: HTW property clock

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Jewish Care Victoria has listed the former Mark &amp; Dina Munzer Community Residential Aged Care facility in Melbourne’s Caulfield North. 
Gary Peer &amp; Associate, inconjunction with CBRE, are handling the sale of the 52-58 Northcote Avenue property. 
The 3,683 sqm site has remained vacant since the aged care facility’s closure in March 2017.
The property is expected to attract the attention of local and overseas developers, aged care operators and not-for-profit and charitable organisations looking to establish new headquarters.
Jewish Care Victoria CEO Bill Appleby said the property did not align with the organisation’s recently released Strategic Plan, which would determine its key strategic priorities for 2018-2020.
Gary Peer &amp; Associates’ Philip Kingston said the former aged care facility was the most significant allotment the firm has handled for public sale. 
“The property is more than double the size of any landholding in the notoriously quiet street, and more than 1,000sqm bigger than anything we have handled in the Caulfield precinct over the last five years,” Mr Kingston said.
The property features all the amenities required of an aged care facility, including 45 beds, full line commercial kitchens and formal living and dining areas. 
Offers close September 6.
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