Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<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/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of 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."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

What does it really mean for a building to be 'green'?

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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National office vacancy in Australia remained largely flat, says the latest Property Council of Australia Office Market Report but it belies the changes to the economy as the mining investment boom ends and significant new office space comes online.
The rise in vacancy was 10.5 percent from 10.4 percent, but demand was seen increasing for the fourth consecutive period.
“The almost static national rate makes it look like it is all smooth sailing across the lake. This hides what is happening below the surface,” said Property Council chief executive Ken Morrison, pointing to the major differences between the cities and regional areas. 
“The economy is in transition; Sydney and Melbourne are reclaiming their historic claims as the economic engine-rooms of the economy; and in most cities, we are witnessing strong increases in demand. This demand is being sufficiently met by significant additions to office supply.”
He said the demand for offices in Sydney and Melbourne is strong, which is good news for Australia as the mining investment boom ends. 
Sydney CBD and Melbourne CBD showed the lowest vacancy rates with 6.3 per cent and 7.7 per cent respectively, closely followed by Hobart (8.1 per cent). The two top cities are also the best performing markets by net absorption.
“But the story is not even. Office vacancies in Brisbane, Perth, Canberra, Adelaide and Darwin are more than double that of Sydney,” Morrison said. 
The report also shows that Sydney, Brisbane and Adelaide will all have above average increases in new office stock over the next year.
Other highlights include: 
• Vacancy rates falling in 13 of the 17 Non-CBD markets tracked
• Vacancy rates increasing in Adelaide CBD (14.1 per cent up from 13.5 per cent), Perth CBD (19.2 per cent up from 16.6 per cent) and Darwin CBD (20.7 per cent up from 10.9 per cent)
<ul>
<li>An additional 394,243 sqm in office space was added over the last six months – 25 per cent higher than the historic average </li>
</ul>
 “The latest figures from the Property Council of Australia highlight the two-tier nature of Australia’s office markets nationally as a new year swings into action,” commented Simon Hunt, managing director- office leasing at Colliers International.
“In 2016, tenant appetite for Australian office space will continue to diverge between the high demand cities of Sydney and Melbourne and the country’s remaining major cities.”
The non-CBD markets were holding up well too with 13 out of 17 reporting falls in vacancy rates and 11 out of 17 markets reporting lower vacancy rates than the Australia wide non-CBD rate.
Perth saw the first positive net absorption (42,387sqm) after three years of negative demand. This helped to offset the large spike of an additional 113,463 sqm of new office stock that was added to the market over the past six months. 
Sydney continues to have the lowest vacancies and strongest demand of all cities. As well, it has a strong pipeline of new stock with 243,126 sqm expected in 2016. 
The fall in Hobart’s vacancy rate is occurring at the same time as major regulatory changes are taking place. These include the passage of the Tasmanian Planning Scheme and proposed changes to the Building Act amendments. 
Brisbane’s vacancy rate remained steady. The city is expecting an additional 192,281sqm in office space to come online during 2016. Brisbane is facing near record levels of new supply over the next year, which will continue to put pressure on this market. 
Melbourne’s vacancy rate fell to 7.7 per cent – second only to Sydney – off the back of strong demand. With 71,768sqm of new supply to come on board over the next year and none forecast for 2017, this market can be expected to remain tight. 
Adelaide continues to suffer from negative demand with CBD vacancies reaching as high as 20.6 per cent for D grade property. 
Canberra’s vacancy rate fell from 15.3 per cent to 14.9 per cent. While the improvement is welcome, the city continues to have one of the highest vacancy rates in the nation. The prevalence of older buildings throughout the city has seen vacancy rates hit 30 per cent for D grade properties. 
Darwin reported the worst result in the nation with vacancies increasing from 10.9 per cent to 20.7 per cent. This was the result of an economic convergence of increasing supply and lower demand. The city reported the highest supply rate increase in Australia at the same time as it was experiencing the lowest demand growth.
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Modest rise in national office vacancy, but demand soars in Sydney, Melbourne: PCA report

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Non-residential and residential building approvals fell over the last six months in NSW, says the Urban Taskforce citing Australian Bureau of Statistics data.
“In a worrying sign that the property market is slowing down the latest ABS approval numbers continue a fall from June 2015,” said Urban Taskforce CEO Chris Johnson. 
In the high density apartment market, approvals in December 2015 dropped to 3,060 from a high of 3,338 approvals in June 2015 on trend numbers. 
This could be a settling down to more normal production or point to less confidence in the market through a tightening of bank loans, said Johnson.
“While the state’s performance is well above the 10-year average the continual slow down means the government must be careful with any changes that affect the industry. We are concerned that statements about value capture levies along with a less focussed local government sector due to amalgamations could lead to further drops in production,” he said.
“Even at the June high point NSW was not producing sufficient housing for the increased population particularly when many approvals do not proceed to housing production.” 
According to the NSW Department of Infrastructure and Regional Development website, land value capture or uplift involves governments levying a proportion of the increase in the unimproved capital value of private land due to public sector transport infrastructure investments. 
The various forms of value capture range from property taxes, parking levies and voluntary planning agreements.
The non-residential building approvals — measured by value — have also slowed over the last six months with NSW now behind Victoria and Queensland despite these states being smaller. 
Non-residential building approvals in Victoria were $833,198,000 in December 2015 compared to Queensland at $692,603,000 and NSW at $691,569,000.” 
“While the NSW economy is generally in good shape the role of building production needs to be carefully supported to ensure it remains robust,” said Johnson.
He suggested that the Greater Sydney Commission take a more proactive role with approvals of major projects during the transition process to ensure housing supply continues at a strong level.
<a href="/images/2016/02/04/Screen%20Shot%202016-02-04%20at%2010.21.07%20AM.png" target="_blank">Click to enlarge</a>
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NSW building approvals slowing down: Urban Taskforce 

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Canberra’s commercial property sector is expected to attract an increasing level of offshore attention from investors in 2016.
<div>According to Knight Frank’s Associate Director, Institutional Sales, Canberra, Nic Purdue, there are numerous signs that point to a stronger market and more diversified attention on the capital city this year.</div>
<div> </div>
<div>“Recent positive economic signs in Canberra are expected to help underlying market fundamentals," he said.</div>
<div> </div>
<div>"This includes a far more stable vacancy rate, stable incentives and forecast rental growth – all signs that the Canberra commercial market has reached the lowest end of its cycle.” </div>
<div> </div>
<div>Nic said that investors from Asia are looking increasingly towards the Canberra market due to its secure, long-term government tenants. </div>
<div> </div>
<div>“The current wave of Asian capital is looking to diversify away from Australia’s core markets and into higher-yielding regions, such as Canberra.</div>
<div> </div>
<div>“With some volatility in global markets, Canberra is increasingly being considered as a safe haven within the context of the wider Australian market place.</div>
<div> </div>
<div>"Australia remains attractive for offshore investors who are drawn by the low Australian dollar, cost-effective borrowing and government stability and should the global volatility continue there will be a case for the RBA to keep rates on hold, adding to the attractiveness of Canberra as a market."</div>
<div> </div>
<div>“We are already receiving increased interest from Asian countries including Korea, Singapore and Malaysia.</div>
<div> </div>
<div>"In December 2015 Korea’s FG Asset Management purchased the Louisa Lawson Building for approx. $225 million and we anticipate that this significant transaction will lead to more interest from these groups in 2016.” </div>
<div> </div>
<div>Mr Purdue said that Canberra hasn’t yet seen the influx of Chinese investors in the commercial market, although the residential market has seen plenty of interest. </div>
<div> </div>
<div>“Canberra’s commercial sector hasn’t yet seen the levels of demand from Chinese investors that other capital cities have seen, but that could also change.” </div>
<div> </div>
<div>According to Nic, hotel buyers from Asia are seriously considering Canberra at the moment and actively seeking opportunities.</div>
<div> </div>
<div>“In addition to interest in the commercial office sector, we have recently received several enquiries for hotels in Canberra on behalf of Asian hotel groups," he said.</div>
<div> </div>
<div>"We expect this interest to continue.”</div>
<div> </div>
<div>A final factor that may have a positive impact on the flow of Asian investment into Canberra, according to Nic, is the potential upcoming announcement by Singapore Airlines that they may look at initiating direct flights between Canberra and Asia. </div>
<div> </div>
<div>“As reported in the media over the past week, if Singapore Airlines does create a direct flight route between Canberra and Asia, this will continue to build the case as an investment destination for Asian investors,” he concluded.</div>
</div>
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jrobinson-rf4aSBido9

Asian investors size up Canberra office market

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The Australian Bureau of Statistics (ABS) released building approvals data for December 2015 which have been analysed here by CoreLogic RP Data research analyst Cameron Kusher.
The results tend to be somewhat volatile on a month-to-month basis, largely due to the more ‘lumpy’ unit approvals. 
Following a -12.4% monthly fall in dwelling approvals in November, approvals rose by 9.2% to 18,868 approvals in December 2015.
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.47.54%20pm.png" target="_blank">Click here to enlarge</a>
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.47.54%20pm.png" alt="" width="515" height="163">
The 18,868 dwelling approvals in December 2015 consisted of 9,968 house approvals and 8,899 unit approvals. 
Both house and unit approvals recorded a large jump in December, up 5.7% and 13.5% respectively. 
Year-on-year, house approvals are 3.4% higher while unit approvals are -8.3% lower resulting in a -2.5% fall in total dwelling approvals. 
Despite the year-on-year fall in approvals they remain at close to record high levels although they are -8.7% lower than their recent record high recorded in June 2015.
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.19%20pm.png" target="_blank">Click here to enlarge</a>
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.19%20pm.png" alt="" width="501" height="181">
Looking specifically at the types of units being approved over the 2015 calendar year, 27.0% were townhouses, a record-low 8.7% were low-rise units (less than four storeys) and 64.3% were high-rise units (four storeys or higher). 
The above chart highlights the rising prevalence of high-rise approvals over the past few years, largely at the expense of townhouses. 
Of course this is reflective of the large volume of in-fill development taking place, particularly in inner-city areas. 
From a developer’s perspective the returns are much higher building to high-densities than there are constructing medium density properties such as townhouses. 
More recently the chart shows that there has been a slight easing of high-rise unit approvals however, developers are still overwhelmingly seeking more high-rise approvals than approvals for low-rise or townhouses.
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.29%20pm.png" target="_blank">Click here to enlarge</a>
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.29%20pm.png" alt="" width="455" height="169">
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.41%20pm.png" target="_blank">Click here to enlarge</a>
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.41%20pm.png" target="_blank"><img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.41%20pm.png" alt="" width="444" height="163"></a>
The above two charts show the six month average number of house approvals across each of the capital cities. 
The charts show that in most cities the number of house approvals have recently started to trend lower. 
In particular this downwards trend is now most prevalent in Perth, Darwin and Canberra. 
Despite the recent downwards trend in approvals, they remain well above average levels in Sydney and Perth, are at about average levels in Melbourne, Adelaide and Hobart and Darwin and are well below average in Brisbane and Canberra.
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.46%20pm.png" target="_blank">Click here to enlarge</a>
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.46%20pm.png" target="_blank"><img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.46%20pm.png" alt="" width="477" height="175"></a>
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.51%20pm.png" target="_blank">Click here to enlarge</a>
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.51%20pm.png" target="_blank"><img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.51%20pm.png" alt="" width="472" height="176"></a>
 
Unit approvals have also generally started to trend lower over recent months however, the notable exception is Sydney where they are still increasing. 
Despite the recent slowdown of unit approvals they have been at record highs in Sydney, Melbourne and Brisbane and remain at extremely high levels. 
The challenge now will be to see how many of these recent approvals end up constructed. 
With sales volumes slowing, offshore demand reportedly slowing, investor activity reducing, value growth slowing and concerns of an oversupply in certain areas it will be interesting to see how many of these projects go ahead.
We anticipate that despite the month-to-month volatility in the data, building approvals will most likely trend lower through 2016. 
This will be driven in large by the market due to an expectation of slowing value growth and sales volumes. 
Furthermore, many are concerned about oversupply in certain markets and developers may find it harder to achieve their pre-commitment targets, particularly for units. 
The recent slowdown in investment lending will also impact units more than houses with the last Census showing that units are more than twice as likely to be rented as houses are. 
The fact that rental yields have pushed to record lows and rents are unchanged over the year is also likely to act as a further deterrent for buyers of new off-the-plan property.
While the trend in dwelling approvals appears to have peaked, there are still a large number of projects that are either under construction are due to start construction, which implies building activity probably has some way to go before we see a similar easing trend that is visible with approvals.
 
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Dwelling approvals remain below peak despite December rise

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Skincare brand Origani is the newest entrant on Melbourne’s Swanston Street shopping strip.
The beauty giant has signed a seven-year lease for its first street store in the Melbourne CBD. 
The store at 191 Swanston Street will be spread over 56 square metre at an annual rental of $4,303 per sqm.
CBRE’s Zelman Ainsworth and Samantha Hunt brokered the off-market deal for Erdi Group.
Ainsworth said the deal was evidence of strengthening demand from international retailers looking to acquire street stores in the Melbourne CBD over shopping centre outlets.
“While shopping centres have traditionally been Origani’s preferred target location, on the back of unmatched traffic and retail spend in the Melbourne CBD, the retailer was eager to secure a presence in the sought after hub,” Ainsworth said.
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Origani scoops beauty spot in Melbourne CBD shopping hub 

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A mixed-use development site at Cremorne (Richmond) in Melbourne’s inner eastern suburbs is up for auction on February 19.
It is expected to fetch more than $2 million.
Located at <a href="https://www.commercialrealestate.com.au/property/24-26-cubitt-street-richmond-vic-3121-2012536208" target="_blank">24-26 Cubitt Street</a>, the 365 square metre site will be sold with a planning permit for the development of a five-level building comprising a commercial office space and two apartments.
Cremorne is in the south-western corner of Richmond and adjacent to Melbourne’s premier sporting facilities and parklands, including the Rod Laver Arena, the MCG and the Royal Botanic Gardens, and abuts the Monash Freeway and the Yarra River.
According to marketing agent, Teska Carsons’ Matthew Feld, the property is ideally suited to the permitted development given its location and the success of similar projects within the vicinity.
“This is a well located site so close to every possible amenity in one of Melbourne’s most vibrant inner suburbs and within easy commuting distance to the CBD,” said Feld.
The site is zoned Commercial 2 under the City of Yarra Planning Scheme. The property will be sold with vacant possession.
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Melbourne’s Richmond site with mixed-use permit up for auction

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Invested in residential property, but a little frustrated with a 'steady' 3-4 percent return?
It might be time to consider the time-tested strategy of diversifying your portfolio and invest in commercial property.
As the heat comes out of the housing market, particularly in Sydney and Melbourne, and expectations of continued softness in the January Core Logic RP Data home price indexes, investors could make a beeline for commercial property.
The search for better yields by investors could benefit commercial property and infrastructure, says AMP Capital chief economist Shane Oliver in its latest weekly update.
Reinforcing the view is the outlook that cash and bank deposits are likely to provide poor returns, with term deposit rates running around 2.5% and the central bank expected to cut the cash rate to 1.75%.
Raine &amp; Horne Commercial’s executive chairman Angus Raine noted late last year that, “low cash rates were helping the smart money find its way into commercial real estate”.
A Commonwealth Bank report said late last year that Australian commercial property sales was set to break the $20 billion benchmark for a third year in a row.
Here are a few reasons why it might be more bang for your buck.
First and foremost, the prospect of higher returns.
Capital city rental rates recorded their slowest annual rate of growth (0.3%) in the 12 months to November, latest Corelogic RP data shows. Growth rental yields also fell to 3.5%, the data showed.
For commercial property, 8% to 12% gross rental yields are not uncommon, according to a blog post on www.realestate.com.au.
Commercial property also offers more options such as office space, industrial, retail, hotels, rural and agribusiness, healthcare and retirement living, meaning it can fit in with most investor needs and risk appetites.
Commercial properties also score on tenancy periods, with contracts typically between three to 10 years, translating to a stable income stream and also less risk of defaulting tenants. For residential property, a lease agreement could be as short as six months and if not renewed, it means the search for new tenants again.
Also, commercial tenants usually pay all the outgoings for you, unlike a residential property, where the landlord is liable for paying council and water rates, maintenance etc.
Square metre for square metre, commercial real estate is often cheaper than residential property but because you’re buying more square metres per property, commercial is usually dearer in real terms. 
On the flip side, vacancy rates are generally higher for commercial, sometimes months or years before a retail space or office is taken up by tenants unlike a house or unit, which typically rent out within weeks. 
Economic fluctuations also impact commercial properties more as businesses rise and fall, hurting demand.
As with any investing, buying commercial property calls for thorough research, best summed up by hotspotting.com.au founder Terry Ryder. 
"Research is the foundation of all successful investment strategies. It takes time and if you don’t have the time, you need to be willing to spend money buying good research."
“We’re seeing plenty of activity in industrial and retail markets priced below $5 million, with assets priced between $1 million and $3 million very popular with yield hungry, self-managed super funds,” said Angus Raine, executive chairman, Raine &amp; Horne Commercial said recently.
“Low cash rates are also helping the smart money find its way into commercial real estate, which is producing some good sales results for vendors.”
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Commercial Property 101: Not happy with residential property returns? Try commercial property 

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The American burger franchise Carl's Jr has opened it's first Australian store on the NSW Central Coast.
The controversial burger chain, known for for their raunchy TV ads, has huge expansion plans for Australia, targeting 300 restaurant sites in the next 10 to 15 years.
Carls Jr, which already has food joints in 30 countries is positioned next to McDonald's in the Bateau Bay area.
Carl Jr's created its own publicity stunt - offering a year's supply of free burgers to the first 50 people through the door of their grand opening, with a burger fan lining up since Sunday night for his share.
Carl's Jr are already <a href="https://www.propertyobserver.com.au/https://www.seekcommercial.com.au/business-listing/carls-jr-franchising-australia-global-leaders-in-restaurant-franchising/179823" target="_blank">advertising the opportunity to potential franchises</a> as they look to continue their expansion.
The Bateau Bay store's franchisee Lindsey Brennan owns 18 liquor stores across the region and has a licence for 10 new Carl's Jr restaurants across the central and northern New South Wales coasts.
The Carl's Jr TV ads have caused a stir amongst onlookers, with Paris Hilton and Kate Upton having worn next to nothing on the US advertisements.
One of the most recent clips featured model Charlotte McKinney was banned from the 2015 Superbowl.
They haven't looked to clean up the promotion in Australia either.
The Carl's Jr Australia ad was reported to the Advertising Standards Board after being aired on Channel 10 after the Big Bash League during December and January with local model Gemie Howe.
The advertisement will be reviewed at the next ASB board meeting.
The 300 planned restaurants will take a sizeable chunk of the burger monopoly across Australia.
Australia has been a highly successful franchise step for burger joints, with McDonalds opening their first restaurant in Yangoona in 1971.
They now have 900 stores across Australia.
Hungry Jacks have 390 and the supposed healthier burger choice Grill'd has 122 locations, however founder Simon Moore targeted another 200 across Australia in 2014.
Among new entrants to the market are​ Mary's, Chur Burger Express, Burger Project, Burger Edge, Burger Shed, Ribs &amp; Burgers, Burger Bro? and Melbourne's Brother Burgers. 
Director of retail listing at Frank Knight Alex Alamsyah recently told Fairfax Media it is unlikely to see Carl's on pricey prime streets in Sydney's CBD.
"Global burger chains like Carl's Jr, and Johnny Rockets from America and MOS burger from Japan are looking at prime streets in Sydney's CBD, but appear reluctant to make a move, as rental in prime George Street could hit $5000 per sqm per annum."
Carolyn Cummins of the Sydney Morning Herald noted that McDonalds is paying roughly $1.25 million a year for their 250 sqm spot in central Sydney and Hungry Jacks's is paying $1.65 million a year for the whole building at 640 George Street. 
Franchisee Lindsey will hope Carl's Jr doesn't follow in the footsteps of Urban Burger. Two of their three outlets were sold off in Melbourne's Balaclava and Middle Park in 2014. 
Ned Lyerly, Carl's Jr president of international doesn't have that concern.
"We've done extensive research ourselves," said Lyerly.
"It's a $16 billion market today and will continue to grow, so I think the market itself is large enough to sustain that sort of operation"
"We compete favourably with all [quick service restaurants]... and believe with the right partners, that those numbers are meetable."
Chief executive Andy Puzder told The Australian Financial Review in 2013 that their success in New Zealand energised the interest in Australia and they want to take advantage of that.
They already have eight shops in New Zealand and plan to open another 50.
 
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American burger joint Carl's Jr opens on NSW Central Coast

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A 19th century building in Melbourne’s Surry Hills has two new corporate tenants.
The corner building at 613 Canterbury Road, Surrey Hills (above) will house Melbourne start-up and financial services provider Selfwealth, and 51 Pay.
Selfwealth will occupy 330 square metres on level 1, while 51 Pay will move into level 2, also 330 sqm. 
Both have rented the spaces at $250 per sqm with $50 per sqm on outgoings. Car spaces are leased at $120 per space per month.
Fitzroys agents Martin Huang and Michael Ryan negotiated the deals in the three-level building.
The building was constructed in 1888 as the Surrey Family Hotel, “Surrey Lodge”, and was closed by a poll in 1920. It was renovated in 1939 and made into shops and a guest house, which was followed by another makeover in the 1990s.
 
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New tenants for historic building in Melbourne’s Surrey Hills

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A milk bar with a three-bedroom house at the rear in Melbourne’s Springvale sold recently for $540,000.
According to selling agent Leyton Real Estate, the milk bar on <a href="https://www.realcommercial.com.au/property-retail-vic-springvale-501789442" target="_blank">68 View Road</a> was the perfect way to enter the Springdale commercial property market.
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%203.30.48%20PM.png" alt="">
The corner property is in an area classified Business Zone 1.
It last sold in mid-2014 at $403,888 and in 1988 at $250,000.
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%203.30.43%20PM.png" alt="">
The rent is $16,500 including GST with an annual increase of 4 percent per annum.
The land area is 210 square metre with a floor area of 70 sqm.
The property is on a three-year lease which started in 2014 and has options for renewals.
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%203.30.54%20PM.png" alt="">
The dwelling at the rear comprises a kitchenette, separate bathroom and secured car space with rear entry.
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