A who's who of Australian surfing, business and entertainment has emerged on title records following the completion of Esprit Rainbow Bay, the latest boutique beachfront apartment development by former professional surfer Paul Gedoun's S&amp;S Projects.

The completed project has attracted an enviable collection of owners, many with long-standing ties to the southern Gold Coast and the surf culture that has helped define Rainbow Bay and neighbouring Kirra for generations.

Given Gedoun's own background in surfing, it perhaps comes as little surprise that some of Australia's most recognisable surfers have chosen to buy into the development overlooking one of the country's most celebrated stretches of coastline.

Pezet Matheson directors Jayde Pezet and Todd Matheson launched the project in late 2021, and have managed the sales campaign all the way through to its sell-out and recent completion.

<img alt="Esprit" data-entity-type="file" data-entity-uuid="08fc6261-b84e-4b09-8a44-66d3067fd0d1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-29%20at%208.51.05%E2%80%AFAM.png?VersionId=4AOcb6ETZwNUnMPdTtz1B3pZAIB_jgZ2" />

Former world champion Mick Fanning, who grew up in Coolangatta, secured an apartment in 2023. He paid&nbsp;$2.07 million. Last year he sold his Bilinga home for over $16 million.

Three-time world champion Joel Parkinson also purchased in the development, alongside big wave surfer Mark Mathews. Mathews bought the most expensive apartment in the building, spending just over $4 million.

Joining them is Rip Curl founder Doug Warbrick, whose company helped shape Australia's global surfing industry over the past five decades.

The appeal of Rainbow Bay has extended well beyond the surfing community.

International DJ Paul Fisher purchased an apartment through his investment vehicle, YLB Developments, an abbreviation of his trademark phrase "You Little Beauty".

The purchase comes as Fisher and his wife Chloe are developing their own luxury apartment project further north in Palm Beach. Their boutique beachfront development, Pescado, comprises just seven apartments on Jefferson Lane, which start from just shy of $6 million. The couple intend to retain the two-level penthouse as their Australian base between international touring commitments.

Melbourne Storm coach Craig Bellamy and his wife Wendy have also invested in Esprit, purchasing two apartments after spending decades holidaying on the southern Gold Coast. They also have a luxury apartment in Joe Adsett's Rockpool, less than 400m away from Esprit.

<h2>Boutique project draws owner-occupiers</h2>

Esprit launched in 2021 and sold strongly, with buyers drawn to its boutique scale, beachfront position and contemporary design.

The completed development comprises 94 apartments across 11 levels, offering expansive floorplans designed primarily for owner-occupiers rather than the investor market.

Crowning the building is Club Esprit, pitched as being the Gold Coast's first residential rooftop wellness centre. The roof features a&nbsp;25 metre magnesium lap pool, which is surrounded by wet daybeds and poolside cabanas,&nbsp;multiple barbecue areas,&nbsp;a yoga and relaxation play lawn, and a private dining room with a kitchen scullery, bar, lounges, and an outdoor terrace.

The wellness centre is&nbsp;fully equipped with a Technogym, ice bath, infra-red sauna, steam room, thermal room, and treatment room. The roof has views spanning&nbsp;Rainbow Bay, Snapper Rocks and the Pacific Ocean.

<h2>S&amp;S Projects continues to shape Rainbow Bay</h2>

S&amp;S Projects founder Paul Gedoun has become one of the key figures behind Rainbow Bay's evolution over the past several years.

After establishing S&amp;S Projects, Gedoun has focused on delivering lifestyle-driven apartment developments designed primarily for owner-occupiers seeking a permanent coastal home.

Esprit is Gedoun's third completed project in Rainbow Bay, following Flow and Awaken, both of which achieved record prices for the suburb.

He is now delivering <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, a 38-apartment development on Boundary Street that is currently selling, and has no plans to leave the precinct anytime soon. S&amp;S Projects has also lodged plans for its fifth Rainbow Bay development, an 88-apartment project on Boundary Street featuring a strong wellness focus.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">First look: S&amp;S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street</a>

&nbsp;

&nbsp;

&nbsp;

Joel Robinson

Who's who of buyers revealed as Esprit Rainbow Bay settles

Nature Based Cities (NBC), the not-for-profit organisation focused on improving biodiversity and nature outcomes in urban development, has launched its latest industry design guidelines and accreditation framework, this time targeting precinct-scale residential communities.

The move extends NBC’s influence beyond its initial focus on medium and high-density residential developments. Several projects have already achieved NBC accreditation since the launch of its Medium &amp; High-Density Residential Guidelines in early 2025.

The expansion into masterplanned communities and new residential precincts reflects the growing need for stronger nature-positive benchmarks as Australia’s outer suburban growth corridors continue to expand at pace.

Paul Hameister OAM, NBC Founder and the Executive Chairman of Melbourne developer Hamton who itself leans heavily into nature and biodiversity in its developments, says the&nbsp;nature-first approach to mitigate the effects of climate change has become standard in other parts of the world such as the UK, but Australia is lagging.&nbsp;Australia’s environmentally sustainable design (ESD) rating tools have no minimum mandatory requirements for living landscapes.

“We’ve always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren’t there,” Hameister says. “In Australia, you can have a five-green-star rated building that’s concrete and glass with not a blade of grass. 
 
“The focus is on reducing emissions, which is laudable, but there hasn’t been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities.”

He says that having now&nbsp;made good progress in supporting developers of medium and high-density residential projects, NBC is now looking to bolster better nature-based decision-making and recognise developers of greenfield projects in the outer ring and large inner-ring brownfield precincts, who want to champion nature and living landscape as a defining feature.

Since 2022, the not-for-profit has sought to remove the roadblocks preventing developers from incorporating nature and living landscapes into their projects, shifting the conversation from the reduction of emissions and grey infrastructure, toward recognising nature as an essential infrastructure.

The New Communities Design Guidelines and Scorecard arm developers with the tools needed to deliver a nature positive outcome for their new communities. Intended to be adopted at the outset of the planning process, the guidelines are designed to help create communities that are cooler, healthier and more resilient while also enhancing social wellbeing and long-term economic value.&nbsp;

New Communities developers seeking accreditation will be independently assessed across a range of key criteria including ecology, tree canopy, biodiversity, and walkability. Once the masterplan is complete and submitted for approval, the scorecard is formalised based on proposed outcomes. Projects that meet the NBC criteria will receive either Commended or Exemplary accreditation outcomes, creating a clear benchmark for nature-positive new communities in Australia.&nbsp;

Janis Fischer, Director at Tract and NBC Advisory Council member, said the development of new communities in our suburbs can have a substantial impact on nature and biodiversity.

"By incorporating nature-based design principles at the inception of a project, developers and their design teams can achieve nature positive outcomes that are good for both people and the planet.’’&nbsp;

NBC accredited New Community projects will gain access to NBC branding and marketing tools to help communicate their nature-based credentials to purchasers and the broader market.&nbsp;

Nature Based Cities: A new Australian benchmark for developing nature-positive new communities

Apartment buildings are increasingly being designed around how people actually live day to day, not just how they want a building to look.

For buyers, that shift is showing up in practical inclusions that respond to changing habits. Work-from-home spaces, EV charging, wellness amenities, secure bike storage and parcel management are becoming part of the broader apartment conversation, reflecting a move toward buildings that reduce friction in everyday life.

Online shopping has become one of the clearest examples of that change.

Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online. That has made parcel delivery a regular part of apartment living, rather than an occasional inconvenience.

For apartment residents, however, the delivery process can be less straightforward than it is for detached homes. Parcels may be left in lobbies, redirected to Post Offices, missed entirely, or placed under the responsibility of building managers and concierge teams.

That is why secure parcel infrastructure is increasingly being considered alongside more familiar apartment amenities.

<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/-VjjLwoViX0?si=A3k7ws9NX35Uac7_" title="YouTube video player" width="560"></iframe>

Australia Post Parcel Lockers offer one way to address the issue. When a parcel arrives, residents receive a notification through the AusPost app or SMS, then collect it using a QR code or one-time PIN. The parcel is kept secure, accessible and removed from common areas.

The broader Parcel Locker network now includes more than 1,500 locations across Australia, positioned at Post Offices, shopping centres, supermarkets, transport hubs and other accessible locations.

For new apartment projects, the relevance is clear. A building’s amenity offering is no longer only about lifestyle spaces, but also about convenience, security and functionality.

As buyer expectations evolve, secure parcel delivery is becoming part of the same design conversation as flexible working, sustainable transport and resident wellbeing.

It is one less thing for residents to worry about, and another example of apartment design adapting to the way Australians now live.

Apartment design is adapting to the way Australians shop

While school holidays and trips to Europe tend to define the winter property market, there's been no cold snap at <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> in North Sydney.

Developer-builder&nbsp;<a href="https://www.apartments.com.au/developers/aland">ALAND</a> sold more than $35 million worth of apartments throughout June, including a $6.8 million apartment that now ranks among the highest apartment sales ever recorded in North Sydney.

SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.

"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.

"Many recognise the opportunity to secure an apartment in an iconic building and premium location while values remain attractive. They may initially lease the property, but the intention is to eventually move in themselves, rather than purchasing purely as an investment."

[smartcode_project:default project_id=134323 project_image_fid=367129]

Located at 177 Walker Street, The Walden will deliver 161 one, two, three and four-bedroom residences across a 30-storey tower designed by Rothelowman. Every apartment occupies a corner position, maximising natural light, cross ventilation and views across Sydney Harbour, the Opera House, Sydney Heads and the northern districts.

Rather than a traditional balcony, the residences feature winter gardens that seamlessly extend the open plan living areas, creating versatile spaces for relaxing or entertaining throughout the year. Floor-to-ceiling glazing draws in natural light while showcasing sweeping views from the building's elevated Walker Street position.

Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.

The larger residences have been planned with distinct entertaining and private zones, with many master suites positioned on corners to capture natural light and harbour views. Walk-in dressing rooms, freestanding baths and refined stone finishes reinforce the house-like feel that has resonated with downsizers and owner-occupiers.

[smartcode_project:default project_id=134323 project_image_fid=6393]

Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.

"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.

"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."

Residents will also have exclusive access to The Pavilion, a dedicated amenity building featuring a rooftop pool, wellness studio, gymnasium, sauna, concierge service, residents' lounge, private dining spaces and work-from-home facilities.

[smartcode_project:default project_id=134323 project_image_fid=6402]

The project marks ALAND's first major luxury apartment development in Sydney's inner-city market after more than two decades delivering residential communities across Greater Sydney.

Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.

"This is a rare opportunity to bring a truly exceptional project to life in one of Sydney's most iconic locations, and to showcase our craftsmanship and design expertise at a world-class level," Hrsto said.

[smartcode_project:default project_id=134323 project_image_fid=6383]

The Walden has been introduced to the market at a time when demand for living in North Sydney is at an all-time high. Billions of dollars have been invested in infrastructure, including the recently opened Victoria Cross Metro station, located just 300 metres from The Walden, providing residents with direct access to the Sydney CBD in just minutes.

Private investment has also transformed the area through the arrival of new retail and dining destinations, elevating the lifestyle offering in what was once considered primarily a commercial precinct rather than an aspirational residential address.

The Walden is currently under construction and is scheduled for completion in 2028.

[smartcode_project_cta:default project_id=134323]

ALAND records $35 million in sales in North Sydney as The Walden bucks quiet winter selling season

The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.

The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.

The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" />

&nbsp;

Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.

At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."

"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" />

DKO said the design had been shaped by the site's landscape setting and surrounding open space.

"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."

"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."

The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.

The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.

Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

First look: ‘Far more than replacing a shopping centre’ as Conquest unveils 736-home Eastlakes redevelopment

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

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

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

<html><body>
Melbourne’s CBD retail core has continued its overall downward trend recording a vacancy rate of just 3.3 percent in 2016 according to research from Savills.
Research from Savills found a moderate rise of 0.7 percent on the previous year’s figure but well below the 5.2 percent, five year average.
The survey of CBD Core &amp; Swanston Street Precinct found there were just 39 vacancies among the 1181 shops which are dominated by Clothing, Footwear &amp; Personal Accessories stores (492) and Cafes, Restaurants &amp; Takeaway Food Services (281).
The number of shops grew from 1132 to 1181 over the 12 months, largely due to the opening of St Collins Lane.
Notable debutants to CBD trading included Debenhams which will open its first Australian flagship store (4000 sqm) at St Collins Lane in September, joining  L'Agent, Kooples and Zadig &amp; Voltaire.
Meanwhile Sandro and Maje, Folli Follie and REISS, Coach, TAG Heuer and Furla have also opened up to trade at the refurbished city centre.
Elsewhere US based footwear retailer, Foot Locker, leased a prime 600 square metre Bourke Street Mall premises, Michael Hill Jewellers leased 69sqm on the corner of Bourke and Swanston streets.
Viva Hair leased 142sqm at 147-149 Russell Street, Connect Hearing leased 124sqm at Centrepoint, and  Sushi Hub continued its CBD expansion with a 26 Elizabeth Street lease (all Savills leases).
The data which paints a relatively positive picture of CBD retailing reflects growing CBD and worker populations,
This has driven a significant rise in service and hospitality based retail in recent years, as well as recent ABS data indicating growth in Victorian retail trade and a household move away from saving to spending.
ABS retail trade (seasonally adjusted) data revealed Victorian retail trade grew by 4.12 per cent in 2016, above the national average growth of 3.45 per cent.
Meanwhile the household savings ratio has been in +6 percent territory over the past year - its lowest level since the GFC - indicating households budgets have begun a shift away from saving to spending.
Monica Mondkar, Savills’ associate director research and consultancy, said Melbourne’s CBD core retail had weathered an apparent downturn in retailing surprisingly well given static wages growth and moderate levels of consumer confidence.
"Melbourne’s CBD has undoubtedly been a good performer in recent times with vacancy characteristic of periods of stronger economic growth and certainty," she said.
"But what may seem outwardly as anomalous growth has some key underpinnings that more than adequately explain its status.
"There has been an apartment boom in Melbourne over several years which has significantly increased CBD and environs residential populations,
"Meanwhile latterly a stronger office leasing market has also increased white collar employment and hence worker population, and of course a resurgence in student numbers has also been important.
"When you consider that the dominant CBD retail sectors are hospitality, food, and service sector related, it’s clear that population growth factors have been the key driver of CBD retail."
Ms Mondkar said the continued influx of high profile global fashion brands and the attraction of modern retail hubs was also attractive to both tourists and Melbourne’s suburban population.
"The number of new and refurbished retail precincts and the continuation of the influx of high profile global brands has no doubt accounted for a significant part of the increase in spending, attracting thousands of new shoppers to the CBD," she said.
"With the resident population alone expected to grow by 14 per cent by 2020 we are going to see the vacancy rate remain low over the medium term."
 
<table class="GridTable7ColorfulAccent1" style="width: 468px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="155">
CBD Core Tenancy Mix 
</td>
<td valign="top" width="86">
       2012
</td>
<td valign="top" width="86">
       2016
</td>
<td valign="top" width="79">
2017
</td>
<td valign="top" width="63">
5 year change
</td>
</tr>
<tr>
<td valign="top" width="155">
Cafes, Restaurants &amp; Takeaway Food Services
</td>
<td valign="top" width="86">
       251
</td>
<td valign="top" width="86">
         281
</td>
<td valign="top" width="79">
282
</td>
<td valign="top" width="63">
   +12.4%
</td>
</tr>
<tr>
<td valign="top" width="155">
Clothing, Footwear &amp; Personal Accessory
</td>
<td valign="top" width="86">
       420
</td>
<td valign="top" width="86">
         466
</td>
<td valign="top" width="79">
492
</td>
<td valign="top" width="63">
+17.1%
</td>
</tr>
<tr>
<td valign="top" width="155">
Department Stores
</td>
<td valign="top" width="86">
          7
</td>
<td valign="top" width="86">
             7
</td>
<td valign="top" width="79">
7
</td>
<td valign="top" width="63">
       -
</td>
</tr>
<tr>
<td valign="top" width="155">
Food 
</td>
<td valign="top" width="86">
         34
</td>
<td valign="top" width="86">
           48
</td>
<td valign="top" width="79">
48
</td>
<td valign="top" width="63">
   +41.2%
</td>
</tr>
<tr>
<td valign="top" width="155">
Household Goods
</td>
<td valign="top" width="86">
         58
</td>
<td valign="top" width="86">
           51
</td>
<td valign="top" width="79">
51
</td>
<td valign="top" width="63">
   -12.1%
</td>
</tr>
<tr>
<td valign="top" width="155">
Services
</td>
<td valign="top" width="86">
       130
</td>
<td valign="top" width="86">
         141
</td>
<td valign="top" width="79">
151
</td>
<td valign="top" width="63">
   +16.2%
</td>
</tr>
<tr>
<td valign="top" width="155">
Other
</td>
<td valign="top" width="86">
       102
</td>
<td valign="top" width="86">
         108
</td>
<td valign="top" width="79">
112
</td>
<td valign="top" width="63">
   +9.8%
</td>
</tr>
<tr>
<td valign="top" width="155">
Vacant 
</td>
<td valign="top" width="86">
         75
</td>
<td valign="top" width="86">
           29
</td>
<td valign="top" width="79">
39
</td>
<td valign="top" width="63">
   -48%
</td>
</tr>
<tr>
<td valign="top" width="155">
Vacancy Factor
</td>
<td valign="top" width="86">
         7%
</td>
<td valign="top" width="86">
          2.6%
</td>
<td valign="top" width="79">
3.3%
</td>
<td valign="top" width="63">
   -3.7%
</td>
</tr>
</tbody></table>
Source: Savills Research 
Ms Mondkar said the demographic change - which reflected a cultural shift with Melburnians, once wedded firmly to the suburban quarter acre block.
"It is now showing a definite penchant for inner-city apartments, fashion, education sector growth and tourism would continue to bolster the coffers of CBD retailers," she said.
"Apartment living is a development which is here to stay and that will continue to be a key driver in the make-up of CBD retail.
"At the same time Melbourne remains the fashion capital and is also firmly on the radar with tourist shoppers and students and those factors will continue to drive the CBD market for the foreseeable future.".   
The survey found little movement in rents which now range between $1500 a square metre, for CBD shopping centre space, to circa $11,000 a square metre for prime space on Bourke Street Mall.  
<table class="GridTable7ColorfulAccent1" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="220">
CBD Retail Rents (Gross $sqm) 
Shop sizes: 50 -150 sqm
</td>
<td valign="top" width="92">
       Low 
</td>
<td valign="top" width="156">
      High
</td>
</tr>
<tr>
<td valign="top" width="220">
Laneways/Arcades
</td>
<td valign="top" width="92">
       1800
</td>
<td valign="top" width="156">
       3500
</td>
</tr>
<tr>
<td valign="top" width="220">
CBD Shopping Centres
</td>
<td valign="top" width="92">
       1500
</td>
<td valign="top" width="156">
       3000
</td>
</tr>
<tr>
<td valign="top" width="220">
 CBD core retail shopfronts  
(excluding Bourke St Mall)
</td>
<td valign="top" width="92">
       3000
</td>
<td valign="top" width="156">
       6000
</td>
</tr>
<tr>
<td valign="top" width="220">
Bourke St Mall
</td>
<td valign="top" width="92">
       9000
</td>
<td valign="top" width="156">
       11,000
</td>
</tr>
</tbody></table>
Source: Savills Research Two levels, numbers seven and nine, are currently up for lease through Savills on the south eastern corner of Queen and Collins Streets in <a href="https://commercialpropertysearch.savills.com.au/7cb45e7e-52c7-e611-80c4-005056816dfc/Lease/Melbourne/379-Collins-Street" target="_blank">379 Collins Street</a> (pictured above).
A combined total area of 2954.10sqm is available at a cost of $116.00 per sqm per annum.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Retail vacancies down 37 percent on post GFC high

<html><body>
The former CEO of Channel Nine David Gyngell has teamed up again with his mate, John "Strop" Cornell to expand their Brunswick Heads holdings.
They've spent $3 million on the 1,012 sqm parcel in the northern NSW tourist town. It currently comprises two storey four units in a fibro dwelling with a huge backyard.
The site, which sold through Siwicki Real Estate agent Dave Bosselmann, sits across the laneway from the Hotel Brunswick, another of the duo's holdings.
Gyngell spent $5.25 million in 2013 to buy a half share of Cornell's Hotel Brunswick, a pub known for its classic Australian 1940s architecture with its courtyard beergarden shaded by giant poinciana trees. 
The coastal village pub was built by Jim Cavill overlooking Simpsons Creek and the Brunswick River. Locals reckon Brunswick Heads is what Byron Bay was 20 years ago.
The freehold of the pub was bought by Cornell in 1990 from Austotel for $2.1 million. 
Gyngell, who has a newly completed retreat in the Byron Bay hinterland, has been a family friend of the entreprenurial former comedian John Cornell and his wife, Delvene Delaney.
It was Gyngell's father Bruce who helped found the Nine network in 1956.
David walked away from one of the biggest jobs in the entertainment industry.
Gyngell and wife, journalist Leila McKinnon, have also just spent $1,675,000 on a three bedroom art deco apartment at Bondi Beach.
Gyngell outbid five others for the ground floor apartment, coming in with his first bid at $1.6 million after an initial vendor bid of $1.25 million kicked off proceedings.
This article first appeared in the Sunday Telegraph.
 
 
</body></html>

jchancellor-FAypfDUnLy

David Gyngell, 'Strop' Cornell buy in NSW's Brunswick Heads

<html><body>
The popular Woodfrog Bakery has moved into Camberwell to open its seventh Melbourne shop in a deal brokered by Fitzroys. 
The bakery, which started its story from a vacant furniture shop in St Kilda, took the lease for ground floor space with extra first floor space at the rear of 570 Burke Road, Camberwell at $80,000 per annum net. 
The 81 sqm Camberwell site will join the bakery’s existing sites in St Kilda, Toorak, Kew, Melbourne CBD, Brighton and Doncaster. 
Fitzroys Chris James negotiated the five-year lease with options.
James said the bakery was keen to place itself in a high foot traffic location, with the property fronting the Camberwell Fresh Food Market, Target, Coles and Market Place car park, and positioned amongst the popular retail offerings of Burke Road.
“The large number of recently completed medium and high-density residential developments in the area, and high number of apartments in the pipeline are further underpinning the demand from for tenants for a presence on Burke Road.” 
</body></html>

prateek24-ezbwHMbNAk

Melbourne's Woodfrog bakery leases into Camberwell 

<html><body>
SPONSORED POST
In the past 18 months, there has been a continual compression of capitalisation rates, or cap rates, across Australia’s commercial property markets.
So what exactly does this tell us about where the market is now and where we are headed in the next couple of years?
Let’s start with what a cap rate is. It is the ratio of net operating income of a property to its market value – the percentage return an investor would get if they purchased the property for cash.
We spoke with Dr David Higgins, Associate Professor, Property Investment at RMIT University, and asked him what drives cap compression.
“To understand the dynamics you have to think of the influences in three parts. First, there is the demand by tenants for a certain property type and location, a factor I call space demand. Then we have to consider the supply of property available for lease and how much new stock is coming on to the market,” he says.
“Finally, and most importantly, we have to factor in the dynamics of the investment and debt markets, because property’s return on investment must be seen relative to other investment avenues, particularly cash and term deposits.”
Cap rates can be a useful guide to market expectations of what will happen to values in the future but they can be bumped around by changes in investor sentiment and alternate markets.
“A-REITS returned to the market after the shock of the GFC,” Higgins told us. “And when you look at institutions like Stockland and Dexus, you see a new breed of management. They used to be drawn to idea that big is beautiful, but what I’m seeing from the new group is that they are more selective and have tightened their risk management.
“Vacancy rates are creeping up but this is not reflected in market yields.”
The reason why is primarily because, with the official cash rate at 2.5%, investors can invest in property and borrow at a rate close to inflation to buy assets with a history of stability.
James Quigley, National Director of Capital Markets at Colliers International, told us that it is this weight of money returning to market which is driving values.
“In the 2007 peak before the GFC hit, a quality asset in the Sydney market would be yielding say at 7% but the cost of debt was around 8%. When you look at the equation now, a well-rated investor’s cost of debt could be as low as 4.5% – 5%, which means their asset is cash flow positive from day one,” Quigley says.
“What’s been driving compression is capital looking for yield. We’re seeing demand from a range of onshore investors, syndicates filled with ‘mum and dad’ investors, super funds and A-REITS.
“But we also see a lot of offshore money as well, particularly global sovereign wealth funds and private investors from Asia.
“The office lease market is still soft, with incentives up for assets with shorter WALEs (weighted average lease expiries) but there is good investor demand for quality modern offices and industrial assets like distribution centres with long-term mandates to single leaseholders.
“The change we’ve seen in recent times is offshore investors looking at office buildings with shorter WALEs with a view to converting them to residential.”
And what is likely if interest rates, as predicted by some analysts, start to rise over the next two years?
“Obviously if we see upwards movement that holds the potential to change the current equation, but right at the moment, it is the sheer weight of money which is driving the market,” Quigley says.
For more information, <a href="https://www.realcommercial.com.au" target="_blank">click here</a>.
</body></html>

Cap rate compression & what it tells us about the market: realcommercial.com.au

<html><body>
The latest research from Melbourne Cityscope shows that commercial property sales in the CBD have risen in both number and total sales value, according to CoreLogic’s Cityscope.
The property data firm says that for the three months to December 2016 there were 81 sales for a total of $1.170 billion.
For the quarter to September 2016, there were 75 sales at a total value of $1.05 billion, compared to 64 sales at a total value of $504.6 million for the previous quarter.
The yearly figures have fallen considerably, however, with 297 sales at a total value of $3.525 billion for the twelve months to December 2016, compared to 336 sales at a total value of $5.905 billion for the previous year.
The table below shows sales recorded for the past eight updates of Melbourne Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/01/25/Melbourne-1.jpeg">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/25/Melbourne-1.jpeg" alt="">
Notable sales listed in the December 2016 update of Melbourne Cityscope include:
<ul>
<li>376 -390 Collins Street, Melbourne, the 34-storey ANZ World Headquarters including three historic buildings with a building area of 30,000 sqm total was bought for $274.5 million through CBRE Melbourne and Knight Frank Melbourne;</li>
<li>St Collins Lane, at 260 Collins Street, Melbourne, a boutique retail precinct of four levels of retail space with over 60 stores, which was bought for $247 million through JLL Melbourne and</li>
<li>114 William Street, Melbourne, an office building of 23 storeys, two basements (with a 106-space car park) and a paved pedestrian plaza, which was bought for $161.5 million through Colliers International Melbourne.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/01/25/Melbourne-2.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/25/Melbourne-2.jpeg" alt="">
Properties listed as being for sale in the December 2016 update of Melbourne Cityscope include:
<ul>
<li>Askew House, 364-372 Lonsdale Street, Melbourne, a six-storey concrete office building with three ground-floor showrooms, built 1937 and available through Colliers International and Hocking Stuart Commercial;</li>
<li>Bourke House, 179 Bourke Street, Melbourne, a six-storey concrete building with five street-level shops available through Gross Waddell and CBRE Melbourne and</li>
<li>9-27 Downie Street, Melbourne, a two-storey brick building consisting of first-floor offices above five double garages, available through Colliers International.</li>
</ul>
Leasing opportunities listed in December 2016 update of Melbourne Cityscope include:
<ul>
<li>440 Elizabeth Street, Melbourne, an 11-storey office building with five showrooms to Elizabeth Street, which has office space of 1,047 to 2,711 sqm for lease through Teska Carson;</li>
<li>333 Exhibition Street, Melbourne, an 18-storey building with a 705-space car park, which has office space of up to 6,003 sqm for lease through Colliers International; and</li>
<li>15W, at 15 William Street, Melbourne, an A-grade 20-level office building with a two-storey retail and car park extension for 300 car spaces, which has office space of 490 to 12,000 sqm for lease through CBRE Melbourne and JLL Melbourne.</li>
</ul>
</body></html>

Melbourne commercial sales rises in both listings and sales value: Cityscope

<html><body>
Immigration Minister Peter Dutton and wife Kirilly have paid $760,000 for a commercial investment property in Townsville.
He's bought three retails spaces in <a href="https://www.realcommercial.com.au/property-retail-qld-wulguru-501840974" target="_blank">Edison Plaza</a>, a retail shopping centre in Wulguru.
He's sought tenants for all three spaces.
The property came with $1.1 million price hopes and had been on the market for over 500 days.
<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/2017/02/14/Peter1.jpg" alt="" width="514" height="228">
Elders Real Estate Townsville agent Glenm Adair sold the property.
The investment property takes his total portfolio up to five rental properties.
The most notable is the four bedder at Queensland's Palm Beach that cost the couple $2.3 million early last year.
They have two properties in the Sunshine State and another in Canberra. They live at Camp Mountain, north-west of Brisbane.
</body></html>

Immigration Minister Peter Dutton buys Townsville retail investment property

<html><body>
Industrial property group Goodman Group has pre-leased an additional one million square feet of logistics space to Amazon at its Goodman Commerce Center Eastvale, California.
Sydney-based Goodman will build the logistics centre for Amazon. The US ecommerce giant is expected to move into the facility in 2018. 
The 205 acre mixed-use development will offer a variety of space options, including distribution, business park, retail and medical. 
Anthony Rozic, CEO of Goodman North America said: “Our e-commerce customers require modern, flexible design solutions that cater to their diverse operational needs. Our success is based on our understanding of these needs and our track record of on-time delivery to enable the successful execution of our customers' growth strategies.” 
Goodman’s network spans 16 countries and has more than $33 billion of assets under management. 
The Eastvale project is one of several in Goodman’s US$2.3 billion identified US development pipeline, which will provide 17.7 million square feet of Class A logistics space. 
Over the last 18 months, Goodman has completed 3.3 million square feet of Class A development product in the Inland Empire West and Greater Los Angeles logistics markets, with a further 2.6 million square feet currently under construction.  
</body></html>

jonathanchancellor-7SQnKwU6yx

Goodman announces 1 million sqft lease with US Amazon

<html><body>
DEXUS Property Group’s statutory net profit fell more than 10 percent for the half-year ended December 2016 from the previous corresponding period, though the company raised its market outlook for the 2017 financial year.
The group, which invests directly in Australian office and industrial properties, said its development and leasing activities offset the impact of asset sales.
DEXUS’s underlying business (excluding trading profits) delivered FFO (funds from operations) per security of 29.7 cents, up 10.6% on the previous corresponding period. 
Statutory net profit after tax of $716.0 million was hurt by lower revaluations and lower trading profits which also drove down FFO, Adjusted Funds from Operations (AFFO) and distribution compared to the previous corresponding period, it said in an ASX release.
<img src="https://www.urban.com.au/images/2017/02/15/DexusFinResults.png" alt="">
The group said it settled on $688 million of asset sales, including the sale of 39 Martin Place, Sydney.
“We have significantly reduced our gearing as a result of the settlement of asset sales over the past six months,” said Alison Harrop, the chief financial officer. 
 <img src="https://www.urban.com.au/images/2017/02/15/DexusGearing.png" alt="">
Chief executive Darren Steinberg said: “Income growth from leasing activity and development completions during FY16 helped to offset the impact of recent asset sales, driving a solid underlying result.”
“We’ve progressed priority projects in our trading pipeline as well as opportunities to restock the future pipeline and we’re confident that the remaining forecast trading profits will be realised in the coming months, delivering on our FY17 target.” 
Dexus said it delivered “a strong” one-year total return of 13.9% across its office portfolio, helped by strong leasing deals in Sydney and gains from the sale of investment properties.  
It started construction of the core of 100 Mount Street, North Sydney and added new projects to the uncommitted development pipeline including 201 Elizabeth Street, Sydney.
Dexus has $22.7 billion of assets under management. The group manages an office portfolio of 1.7 million sqm primarily across Sydney, Melbourne, Brisbane and Perth. 
“While property fundamentals continue to improve in Sydney and Melbourne, we expect to see underlying valuation assumptions improving and further capitalisation rate compression for Prime properties over the next 12 months which will continue to support values in our key markets over 2017,” Steinberg said.
In summary, Steinberg was optimistic, saying Dexus has raised its market outlook for growth in underlying FFO per security from 3.0-3.5% to circa 4%, growth in FFO per security to circa 1% and distributions will be paid in line with free cash flow, delivering distribution per security growth of 3.5-4.5% for the 12 months ending 30 June 2017.
<img src="https://www.urban.com.au/images/2017/02/15/DexusPortfolio.png" alt="">
 
</body></html>

Dexus first half profit falls 10 percent, hurt by lower revaluations

<html><body>
The InterContinental Sydney Double Bay five-star hotel Sydney’s eastern suburbs has been put up for sale with expectations of $150 million plus. 
The hotel is controlled by Ashok Hiranandani’s Singapore-based Royal Group Holdings, which owns a portfolio of hotels, shopping centres, office towers, industrial property and residential developments across the Asia-Pacific region.
A report in the Australian Financial Review, said Royal Group reportedly spent about $100 million refurbishing the 140-room hotel, said the report. UK hotel giant Intercontinental took over as operators in November 2014 after the refurbishment. 
The Cross Street property was bought in 2013 for $57 million by Hiranandani’s, Royal Hotels Australia. It had previously sold to the Valad Property Group for $81.5 in 2008. It will be Royal Hotels’ fifth in Australia.
The former Ritz Carlton Hotel-turned-Stamford Plaza was a hotspot for visiting royalty such as Princess Diana, Madonna, Sir Elton John and former US President Bill Clinton, before languishing. 
The marketing is being handled by JLL Hotels &amp; Hospitality CEO Craig Collins.
The property stands on a freehold site of more than 3670 sqm, with six retail tenancies and a 156-space underground public car park.
</body></html>

Sydney's five-star InterContinental Double Bay listed

<html><body>
Travancore is the most affordable apartment in Inner Melbourne based on sqm size, according to Secret Agent’s latest report.
Table 8 provides an update to our price per square metre index for apartments, accounting for internal habitable space and excluding any outdoor area.
<a href="https://www.propertyobserver.com.au/images/2017/06/Table%208.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/Table%208.jpg" alt="">
The full methodology is outlined in Secret Agent’s Apartments Price Per Square Metre Report from June 2016.
Tables 9 and 10 on the following page highlight the most and least affordable areas for apartments based on their average price per square metre and average sale price.
For apartments, the discrepancies between average prices and average price per square metre seem less pronounced.
Travancore, Kensington and Flemington (all neighbouring suburbs in the inner West) appear on the most affordable apartment list for both measurements.
<a href="https://www.propertyobserver.com.au/images/2017/06/Table%209.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/Table%209.jpg" alt="">
All suburbs on the list are either located in the inner West or inner North, and many of these offer good alternatives to the more prestigious suburbs located in those regions.
For example, Kensington vs North Melbourne, which in 2016 was on average $1,400/m2 cheaper; or Brunswick East compared to Fitzroy North, where the difference was about $1,600/m2.
Although the inner South is one of the smaller regions in our sample (in terms of number of suburbs), it dominates the list of least affordable suburbs, with Albert Park, Middle Park and Port Melbourne ranking high based on both average sale price and price per square metre.
<a href="https://www.propertyobserver.com.au/images/2017/06/Table%2010.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/Table%2010.jpg" alt="">
Albert Park was the most expensive on both metrics, more than double the price of Travancore apartments both on average and per square metre.
East Melbourne is also expensive no matter how you look at it, setting buyers back $12,000/m2 on average.
Docklands, while seemingly expensive by average prices is in fact right in the middle when factoring in apartment size, costing on average $8,550/m2.
Property Observer found this three bedroom apartment currently on the market in Travancore at <a href="https://www.realestate.com.au/property-apartment-vic-travancore-124602078" target="_blank">330/68 Mount Alexander Road</a> (pictured above). It last traded for $740,000 in 2010.
A two bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-vic-travancore-124684486" target="_blank">346/38 Mount Alexander Road</a> is on the market for $395,000, having last sold for $402,500 in 2008 (below).
<img src="https://www.urban.com.au/images/2017/02/15/Screen%20Shot%202017-02-15%20at%208.47.47%20AM.png" alt="">
A two bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-vic-travancore-124451922" target="_blank">18 Mt Alexander Road</a> is on the market with expectations around $429,000 (pictured below).
<img src="https://www.urban.com.au/images/2017/02/15/Screen%20Shot%202017-02-15%20at%208.51.09%20AM.png" alt="" width="601" height="374">
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-vic-travancore-123667790" target="_blank">17/190 Mount Alexander Road</a>, Travancore (below) sold for $445,000, going back in price from its $460,000 sale in 2009.
<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/2017/02/15/17_190%20Mount%20Alexander%20Road.jpg" alt="" style="font-size: 12.16px;">
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-vic-travancore-119733747" target="_blank">2421/18 Mount Alexander Road</a> (below) was sold for $412,800, also going backwards from its last sale price of $522,500 in 2010.
<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/2017/02/15/2421_18%20Mount%20Alexander%20Road.jpg" alt="">
For more information from Secret Agent, <a href="https://secretagent.com.au/" target="_blank">click here</a>.
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News