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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GUEST OBSERVATION
If you think your local supermarket is shrinking, you might be right.
Coles has announced that it will open smaller-sized supermarkets in more locations. This follows the lead taken by other large retailers such as Woolworths, Harris Scarfe and Target.
Australia’s growing population may mean more customers, but it is also putting pressure on available real estate for retailers. As population density increases, mostly in urbanised areas, many retailers are shrinking to grow.
The blame for recent store closures has fallen mainly on Amazon and other global players entering the Australian market.
However, high rents, a lack of prime real estate, and rising inventory costs and wages have also contributed to the need to downsize.
Shrinking to grow
Retailers have responded to increased costs and competition in two ways: either by “rightsizing” - closing underperforming and unprofitable locations as Myer has done, or by “downsizing” - shrinking their store footprints.
Smaller store formats allow retailers to maintain a bricks-and-mortar presence at a more affordable cost.
Several established firms, as well as retail start-ups, are taking the small store trend a step further by opening “micro” stores.
Some retailers are also cleverly using smaller shopfronts as “click and collect” points for their online customers.
Smaller stores equal smaller rents. Retail rents are charged per square metre, meaning the bigger the store, the higher the rent.
To put it in perspective, while global retailers seek retail sites from anywhere between 7,500 square metres (Lululemon Athletica) to 40,000 square metres (Uniqlo), smaller stores typically measure around 600 square metres which is around a quarter of the size of the average supermarket.
Prime location retail rents continue to increase due to lack of available space and strong demand from overseas retailers such as Zara and H&amp;M, who are happy to pay up to A$20,000 per square metre per year to shore up key inner city locations.
Industry reports indicate that the Sydney CBD remains the most expensive for retailers, with an average of A$13,335 per square metre per year. Melbourne’s CBD is half the cost at A$6,670, Brisbane is A$4,704, Adelaide is A$4,000-5,000 and Perth is nearly A$4,000 per square metre per year.
Annual average rents in trendy inner-city suburbs, like Surry Hills and Wooloomooloo in Sydney, come in at almost A$14,000 per square metre.
So if you have a very small 80 square metre convenience store in a prime Sydney CBD location, your annual rent bill will be a little over A$1 million.
Going smaller can open up new, and often better, locations. As some real estate analysts noted last year, “with the current environment characterised by a lack of premium retail investment offerings” retailers are increasingly finding it difficult to snap up prime locations.
Going smaller therefore opens up more opportunities) for retailers to capitalise on prime locations, particularly in highly populated and affluent inner-urban and suburburban areas.
But there are other benefits too, such as less inventory, which also means less discounting. Smaller stores also require fewer staff, and less cleaning and maintenance.
What are the benefits for consumers?
Research shows that customers are increasingly suffering from choice overload, also known as the “tyranny of choice”.
This is particularly so for online shoppers and for those browsing the aisles in superstores, department stores and large chain stores. A limited product offering, in a much smaller space, helps consumers make decisions more easily, and appeals to those shoppers who are primarily looking for “convenience”.
Small stores appeal directly to a growing number of affluent baby boomers and millennials who shop more frequently with smaller basket sizes. These shoppers demand personalisation, special services and quality products.
Because small retailers have less inventory, they are able to turn stock over, replenish and refresh products at a much faster pace than their larger rivals. They can promise new items arriving in store at shorter intervals. The lure of “newness” is a very attractive prospect for shoppers.
Are smaller stores here to stay?
In 2018 and beyond, retailing will continue to evolve. Retailers have always had to adapt to meet changing consumer demands, advances in technology and the like.
A sure sign that physical retail is still alive and well is evident in the growing number of online retailers and established brands that are opening physical stores to complement their online offerings.
<img src="https://counter.theconversation.com/content/98246/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Just as pop-up retailing has cemented itself in the retail landscape, smaller stores are also likely to become a significant long-term strategic proposition for the retail industry, where it is now “big to be small”.
Louise Grimmer, Lecturer in Marketing, Tasmanian School of Business and Economics, University of Tasmania
Gary Mortimer, Associate Professor in Marketing and International Business, Queensland University of Technology
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/honey-i-shrunk-the-store-why-your-local-supermarket-is-getting-smaller-98246" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Why your local supermarket is getting smaller

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A new ground floor lobby commissioned by Charter Hall, has transformed the building into a community hub.
The occupants were given charge of the design, activities and offerings at 65 Berry Street in North Sydney.
It includes a ‘Wellness Area’ with complimentary yoga and pilates, an auditorium which can be hired for events and used by tenants free of charge, North Sydney’s only Not For Profit café, an artists studio and a variety of events including Wellness Weeks, after work drinks and morning teas.  
“It’s exciting to see landlords going to extra lengths to attract and retain tenants,” said Michael Arcus, director office leasing at Colliers International. 
The ground floor at 65 Berry Street originally contained a series of offices (approx. 1000sqm) which has been redesigned into a collaborative lobby space. 
Architects WMK responded with a beautiful minimalist design incorporating a wellness area, artists studio, exhibition space, auditorium and communal environment.
Symbol Café , a Not-For-Profit café – the only one of its kind operating in North Sydney – which donates 100% of its profits back to the community. 
Symbol has a menu of locally-sourced, sustainable and organic food.
On payment, customers simply choose a charity to donate to causes like Ozharvest, Greenfleet and Eat Up, and can see these contributions displayed on a board at the café. 
“A Not-For-Profit cafe is an extremely rare entity – I have never leased anything of this nature throughout my 15 of years in the industry,” Michael Arcus 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/2018/6/18/65%20Berry%20Street%202.jpg" alt="">
The lobby at 65 Berry Street is also home to Project 504, a collaborative artist’s studio sponsored by Charter Hall which has been established to provide an outlet for artists to showcase their work outside the mainstream gallery scene, offering artists a supportive creative working environment.
The paintings, some of which have been showcased at the Archibald, are displayed in the lobby. 
<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/2018/6/18/65%20Berry%20Street%203.jpg" alt=""> 
 
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Tenants inspire new lobby at Charter Hall's 65 Berry Street, North Sydney

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Townsville commercial property market continues consistent upward trend.
The remainder of 2018 is likely to remain status quo in the Townsville commercial property market with overall confidence and market sentiment positive, according to the latest report from Heron Todd White.
The inner city remain buoyant with inner-city projects including the Townsville Stadium and proposed waterfront precinct being "positive factors".
The valuers at HTW stated that "the present market is highly suburb selective, with reasonable turnover levels in the sought after mid to inner suburbs, but patchy sales in other areas and suburbs with perceived social issues."
During 2018, the trending rental vacancy rate has remained in a "balanced market range" with the overall trend vacancy rate at just over 3%.
This is significantly lower than the prevailing trend in vacancy rate for the similar period of 2017 at 5.52%.
The unit market is currently steady, albeit at low volumes, with some resistance still being experienced due to the holding costs associated with unit ownership including body corporate fees and high insurance costs.
The report forecasts that the remainder of 2018 will remain similar to what we has been seen to date, with any changes to demand or sentiment heavily reliant on factors such as unemployment, job security and population growth.
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Townsville commercial property market continues consistent upward trend: HTW 

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Strong sales have been achieved in Melbourne’s Box Hill following the sale of a block of adjoining offices for $10.85 million.
CBRE sold a 1,220sqm landholding at 25-29 Ellingworth Parade, which comprises three office buildings.
CBRE Victorian Development Sites Manager Chao Zhang, who has been selling development sites in the City of Whitehorse since 2015, said the success of well-known Chinese and local developers in the area is fueling confidence amongst buyers.
“The Asian demographic is a significant catalyst for the continued interest by local and new off-shore Asian developers in the area” said Mr Zhang.
“Box Hill is the centre piece of the City of Whitehorse in Melbourne’s eastern suburbs. It's council has also been working alongside local and international developers that working on landmark developments.”
There 1,161 apartments under construction in Box Hill, and four more projects being built or currently permitted, joining the 30-storey Whitehorse Towers development in the central activity centre.
CBRE Director Scott Orchard said the sale reflected the strongest land rate achieved this year in Box Hill for a development site.
“The Box Hill activity centre represents a range of different development opportunities given the differing height potential in various locations."
"However, the Ellingworth Parade sale of approximately $9,000sqm on land represents the strongest land rate achieved in Box Hill when analysed in context to the height potential,” stated Mr Orchard
Mr Orchard concluded that appetite for commercial office properties in Box Hill is also incredibly healthy.
“The 25-29 Ellingworth Parade sale is the second recent office sale with 18-20 Prospect Street also transacting to a local Chinese buyer.
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Strong sale achieved in Melbourne's Box Hill

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A 1,100sqm Fitzroy corner building in Melbourne’s inner-north has been sold to international volunteering organisation AVI, which will move its headquarters to the building from nearby Kerr Street.
Fitzroys Director, David Bourke and Manager, Terence Yeh, together with Rodney Morley Real Estate’s Rodney Morley and Naomi Dorevitch, sold the 160 Johnston Street property under the hammer for $5.050 million.
It marked the first time the vendors, a private local family, had put the property to the market in half a century.
The 579sqm site is between the bustling Brunswick Street and Smith Street hospitality and lifestyle precincts, and has frontages of more than 20m to busy Johnston Street and more than 28m to Hertford Street.
It has a two-level office and showroom building with onsite parking, and traded with a holding income of $110,732 per annum.
Yeh said the property’s attractive Commercial 1 zoning saw strong enquiry from investors, owner occupiers and developers, with more than 120 enquiries received during the campaign and strong competition in front of a large crowd at auction.
In close collaboration with the Australian government, AVI - initially Australian Volunteers International - has been at the forefront of volunteering initiatives since sending the world’s first international volunteer to Jakarta in 1951.
Last year, it was selected to deliver to the Department of Foreign Affairs and Trade’s new Australian Volunteers program, which began at the start of this year, as part of a consortium with Cardno and The Whitelum Group.
Another not-for-profit agency has purchased an office building, this time in Fitzroy.
The deal leaves AVI in front from two property disposals in 2016 and April which banked a total of $15.1 million, former headquarters at 71-75 Argyle Street and 88 Kerr Street.
The property's Commercial 1 zoning (which would allow for the construction of apartments) generated more than 120 inquiries.
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AVI stays local after securing Fitzroy corner site 

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Lifestyle clothing brand Mister Zimi has taken a lease of an office and warehouse facility at Prahran in Melbourne’s inner east.
Teska Carson’s Jack Kelliher, who brokered the 3-7 Walker Street deal, with Luke Bisset, said the two level, 880 square metre, premises was let at $160,000 per annum net.
It was on a five year term with a five year option.
He said the property offered a very flexible premises in a sought after inner city location.
"This was a great opportunity to secure a unique and very functional property in a prime location just off Chapel Street in the heart of Prahran and within walking distance of public transport and a range of lifestyle amenities,’’ Mr Kelliher said.
He said the tenant was attracted to the utility and adaptability of the two level space in a location which offered accessibility and close proximity to all necessary services and amenities as well as clients and staff.
The lessor is a Melbourne based private investor. 
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Mister Zimi clothing brand takes Prahran lease

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Two Paddington terraces that are operating as a high yielding 16 studio boarding house have been listed for sale.
The Paddington <a href="https://www.realestate.com.au/property-terrace-nsw-paddington-128629126">Oatley Road properties</a> on two separate titles are being offered in one line.
Last traded for $1.05 million in 2009, the properties yield over $406,000 per annum.
All of the studio's are fully self-contained, offering a variety of different floorplans. 
Spread over two levels, there are two triple studios, 10 double studios and four single studios.
They all have their own kitchenette and wall-mounted flat screen TV and are being sold as a going concern with all furnishings and inventory included in the sale.
There are two communal courtyards, the main featuring outdoor tables, chairs and barbecue facilities.
Each terrace has coin-operated laundries.
D'Ettorre Real Estate Woollahra agent Dominic D'Ettore is marketing the property for a July 17 auction in conjunction with McGees Property agent John Grujovski.
 
 
 
 
 
 
 
 
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jrobinson-rf4aSBido9

Two Paddington terrace boarding house listed

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The property at 1 Kilmore Road, Gisborne, has been listed for sale.
The 2.1 hectare property comes with a dilapidated 1840s hotel.
It is on the market for $1,395,000.
Macedon House at <a href="https://www.realestate.com.au/property-residential+land-vic-gisborne-202131722" target="_blank">1 Kilmore Road</a> is because it is a rare surviving example of an early Victorian hotel, according to Heritage Council Victoria. 
The rendered bluestone building retains a host of original features, including the hardwood-framed roof, chimneys, sash widows and timber mouldings.
The building sits about 500 metres from the township.
The property was at the gateway to Gisborne.
It is offered through Rodney Morley agent Rodney Morley.
The property is located in a road and rural conservation zone on two titles made up of eight allotments.
It has 214 metre frontage to Melbourne Road.
It has attracted buyers wanting to establish a retirement village, Morley noted.
It is believed to have been built for Elizabeth and Thomas Gordon as the Mount Macedon Hotel.
The hotel changed hands over the years, also including a blacksmith’s business from 1863 to 1867.
From the 1880s, it became a boarding and guest house for many years.
During the 20th century it has been a private house, restaurant, reception centre, bowling clubhouse and school.
<img src="https://www.realestate.com.au/blog/images/1600x1600-fit,progressive/2018/06/13160008/capi_6333670f8c0e3755ba65c089a51f5786_4e3c11e7eecbc10c596e9d8a1034b2ba.jpeg" alt="1 Kilmore Rd, Gisborne, Sunbury Leader real estate" data-capiid="4e3c11e7eecbc10c596e9d8a1034b2ba">
Photo: Heritage Victoria
The property also includes significant trees including monterey cypresses, an Irish strawberry tree and English oak trees.
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Retirement village mooted for 1840s Gisborne hotel site, Macedon House 

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Brisbane’s industrial space has seen a few new estates come online recently.
They all have two things in common: good access to major transportation infrastructure and surrounding amenities, according to the latest report from Herron Todd White (HTW).
This is the case in particular for North Lakes Business Park (further stage released in 2017 and now almost sold out), Metroplex at Westgate South in Richlands (one lot remaining) and Colmslie Business Park on Lytton Road in Morningside (recently released).
North Lakes Business Park is a mixed-use development precinct that accommodates a variety of uses including retail, office, warehousing and service industry.
An example if a a new office/warehouse warehouse (pictured above) that sold for $3.1 million just weeks after completion last year.
The valuers stated that "this prime location has attracted a wide variety of occupiers due to its exposure and road connectivity to the Bruce Highway, Gateway Motorway and Gympie Road".
"Stage 1 was completely sold out after being released in 2017 and Stage 2 is expected to come online around the third quarter of 2018."
The Metroplex at Westgate has offered an alternative to Brisbane’s existing high profile commercial centres within the CBD, Airport precinct and Port of Brisbane.
The Metroplex South estate is located in Wacol within Brisbane’s "western growth corridor" and sits at the nexus of the Ipswich Motorway, Logan Motorway and Centenary Highway.
Metroplex Westgate is serviced by both rail and bus transport options.
Transportation infrastructure around Metroplex Westgate has been significantly upgraded, making it a prime industrial location the report noted.
The valuers stated that Colmslie Business Park’s prime location within the TradeCoast is a major asset to the development, having direct access to the Brisbane Airport, Port of Brisbane and major transport routes with the added benefit of being close to the CBD, major infrastructure and public transport.
The TradeCoast precinct is the most tightly held industrial precinct in Brisbane.
"We expect to see high levels of pre-commitments throughout 2018, as was seen in 2017 with a 19% increase in space from 2016 supply levels."
"This is due to the desire of tenants to occupy new, modern space with attractive rents and good incentives," noted the valuers at HTW.
On the other hand, there has been limited levels of speculative development.
Development activity for owner-occupiers has been "subdued" with Sigma Pharmaceuticals being the only major build in 2017 of approximately 14,990 square metres.
Hilton Foods meat processing facility at Logos Heathwood Logistics Estate will comprise circa 45,000 square metres as well as a Coca-Cola Amatil expansion being completed in the first half of 2018.
Several transport-related infrastructure projects are well underway in Brisbane that will stimulate industrial development through better connectivity and transport options.
The Kingsford Smith Drive update commenced mid-2016 at a cost of $650 million and involves widening Kingsford Smith Drive from four to six lanes in certain areas, road improvement works, public transport improvements and cycling and pedestrian infrastructure and is projected to be completed in 2019.
Brisbane Airport Corporation (BAC) has invested $1.7 billion in infrastructure projects since 2012 with a further $1.7 billion investment in redeveloping the domestic terminal, building a new runway, building a new multi-storey car park, investing in the latest passenger friendly technology and developing a new Industrial Park and Auto Mall project.
The Gateway Upgrade North Project (Nudgee to Bracken Ridge) is a $1.143 billion project aimed to reduce congestion (particularly from population growth and continued expansion of the TradeCoast), improve safety and increase the efficiency of the motorway network.
The Logan Enhancement Project is a $512 million project to improve congestion along the Logan Motorway/Mt Lindesay Highway/Beaudesert Road interchange and the Wembley Road/Logan Motorway interchanges.
It also includes construction of southfacing on and off-ramps on the Gateway Extension Motorway at Compton Road. 
The Inland Rail is another major project that will see the construction of a 1,700-kilometre freight rail that will run from Tottenham in Victoria to Acacia Ridge in Queensland.
This will be up to ten hours faster than the existing rail network via Sydney and will assist in reducing congestion on highways the report noted.
The valuers stated that overall, industrial yields stabilised over the first quarter of 2018.
Prime yields are currently sitting between 6.25% and 7.25% with the TradeCoast precinct having the tightest investment yields, whilst secondary stock typically ranges between 8% and 12%.
The latest report noted rent levels have been low some time now but have remained stable over the past year.
Developers offering competitive rents and incentives in the pre-commitment market are factors holding back rental growth.
Leasing demand increased over the first quarter of 2018 and was mostly concentrated in the south side.
Net face rents for prime industrial assets generally range between $95 and $140 per square metre per annum whilst secondary rents range between $50 and $100 per square metre per annum.
Incentives being offered to secure tenants typically range between 5% and 20% for prime assets depending on size and between 8% and 25% for secondary assets.
The majority of leasing transactions during 2017 were design and construct and pre-commitments, with a high volume of this also expected for 2018.
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Latest industrial estates to hit the Brisbane market coming up big: HTW 

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EXPERT OBSERVATION
The announcement by the NSW Government that they will be funding $285 million for apprenticeships is good news for housing supply.
The current boom in construction in NSW and particularly in Sydney will need a continuing supply of skilled trades people.
The NSW Government support for a continuing number of apprentices in the building and construction industry is therefore essential for the future work-loads.
New South Wales currently has 400,000 people employed in the development / construction industry with 280,000 of these working on new residential projects.
While recent approvals for residential projects seem to be slowing down this is hopefully a short term dip that will be balanced by continuing growth.
The allocation of almost $300 million to a continuing program of apprenticeships is a good move to help the future of the industry and will ensure thousands of young people have opportunities to develop valuable skills and undertaking training which will help them secure employment.
But the NSW Government needs to carefully manage the current community concerns about the extent of development in the residential sector as well as for major infrastructure projects.
It is important that the current extent of development is maintained so that the thousands of apprentices trained through the government’s funds have employment opportunities now and into the future.
To ensure a good flow of construction work into the future the state government needs to also manage demands from councils to increase infrastructure levies and affordable housing levies that will add to the cost of housing and slow down the supply of new housing.
CHRIS JOHNSON is the Urban Taskforce CEO.
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