Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

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]

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 

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

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Kulangoor’s big cow has been officially handed over to new owners for the first time in 14 years.
The icon is among the 150 ‘BIG’ things scattered across Australia that make up some of the country's most loved attractions, from the Big Banana in Coffs Harbour to the big boxing crocodile at Humpty Doo.
The spotlight has been thrown on the Big Cow with its sale being confirmed earlier in the week.
ONE Agency Noosa principal Grant Baker said a successful marketing campaign was the driving force behind the sale.
“The team at ONE Agency Noosa has worked diligently to create an outcome where both buyers and sellers are happy,” Grant said.
The property was first designed as the Country World tourist attraction. It had a working dairy farm with Ayrshire cows. Visitors could learn firsthand how dairy farms were run.
The property was last sold in 2000 and was run as The Outdoor Centre for years. Owners then transformed it into the Nambour Regional Training Centre.
Since then the training centre has been leasing out its facilities to companies across Australia. Tenants include marines and mining and disability industries.  
Over the past 14 years the big cow has became synonymous with the property. Sculpted by Hugh Anderson, who also did the big bulls at Rockhampton, the big cow is an exact replica of an Ayrshire cow, only seven times bigger.
The big cow also became home to Sunshine Coast’s first sea and air rescue helicopter, with the old helipad on site.
The complex has 70 parking spaces and has easy access off and on the Bruce Highway. 
Picture: Stuart Edwards/<a class="mw-mmv-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank" style="line-height: 1.3em;">CC BY-SA 3.0</a>.
 
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owisniewski-RiYLqnXfKH

Queensland’s Big Cow icon sold after owners decide to moo-ve on

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GUEST OBSERVATION
People are pretty comfortable with the idea of residential property investment. 
Most people (I’m guessing) have lived in a house or a unit before; many have also rented them.  So it’s a known quantity and having a few houses in our portfolio makes us feel pretty good.
Now, maybe you’ve been to realestate.com.au on the odd occasion, and you’ve noticed the ‘commercial’ tab on the far right.  A quick search in your local area brings up a plethora of offices, retail shops, warehouses, hotels and even commercial farms, many with the words ‘outstanding opportunity’. 
So is commercial property investment something within the reach of all property investors?  How does it compare to investing in residential property?  Should you be looking to diversify into commercial? 
Well the attractiveness and suitability of any investment boils down to risk vs return.  So let’s compare the two asset classes:
<ul>
<li>Returns</li>
</ul>
Show me the money, as they say.  Here, commercial has the upper hand with returns usually around 6-8%, and sometimes significantly higher for the real 'unicorns'. Residential returns are a little lower at 4-5%, but as you’ll see, less risky and cheaper.
<ul>
<li>Vacancy</li>
</ul>
One of the biggest risks in property is the vacancy rate.  How long can you afford to make repayments and pay outgoings on a property receiving no income? 
Residential property has lower vacancy rates than commercial.  A house or unit may stand vacant for a few weeks before it’s rented, whereas a warehouse, a shop or an office might be vacant for months or years at a time. 
The commercial leasing sector tends to be more affected by the economic climate - they’ll lay off staff and consolidate space when times are tough, causing a contraction in demand for space, whereas individuals still need somewhere to live.  That tends to make the residential property sector a bit more stable.
<ul>
<li>Rental / Lease agreements</li>
</ul>
In the residential world, striking a deal with a tenant is pretty straightforward with much of the common terms (or boilerplate) outlined in a mandated Residential Tenancies Agreement.  All you need to consider are your variables like lease term, rental amount, bond, etc. 
In the commercial world, there’s no statutory authority to tell you how to reach agreement - it’s all up for negotiation (there are conventions though).  Commercial leases run to dozens of pages and include things like incentives paid by the lessor to put towards fit out, and make good clauses, specifying if and how the tenant should return the tenancy when they vacate.  You’ll need specialist property lawyers or a tenant advisor to help with this process.
<ul>
<li>Cost</li>
</ul>
Square metre for square metre, commercial real estate is often cheaper than residential property (unless you’re talking about CBD office space north of $700 a square metre per annum) but because you’re buying more square metres per property, commercial is usually dearer in real terms.  And you have outgoings such as electricity, security, and base building maintenance to consider, however these are passed on to the tenant in some way (net or gross lease). 
In commercial, it’s easier to pass on costs if utility prices climb, but harder to do so with residential property.
<ul>
<li>Maintenance</li>
</ul>
A dripping tap or faulty ceiling fan in a residential property is an annoyance to a tenant and something you should get fixed promptly to keep your tenant happy.  However in the commercial world, tenants tend to be more demanding, particularly if the fault or shortcoming is costing them money - for example the air conditioning breaking down in a shopping centre in summer. 
For this reason, you’ll need a professional property manager with agreements in place with services contractors like air conditioning technicians, plumbers, electricians, security contractors, and who knows the language of that world.
<ul>
<li>So which is better?</li>
</ul>
You may get sick of hearing me say this, but it really comes down to your personal financial strategy, your financial situation, and your appetite for risk &amp; return. 
Before investing in property or any asset class, know what you’re getting into, retain good advice and don’t overcommit yourself. 
For many investors, commercial property represents ‘the next level’ where the scale is greater, the sums are larger, and the returns are higher.
Owen Davis is the principal of <a href="https://dfgproperty.com.au/" target="_blank">DFG Property</a>, a full service property management, finance &amp; sales firm based in Sydney. 
Owen has over 15 years experience in property financing, real estate and property management.
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OwenDavis-dWJoq5LscE

Residential or commercial - which should I invest in?

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<h3>GUEST OBSERVATION</h3>
Labor’s state election victory in Victoria has fatally undermined Melbourne’s most controversial tunnel, the now-doomed <a href="https://www.linkingmelbourne.vic.gov.au/east-west-link" target="_blank">East-West Link</a>, with new Premier Daniel Andrews pledging to rip up the contracts for the project.
His decision is a victory for anyone who values 21st-century urban thinking over the outdated car-first mentality.
It’s also a financial relief, because – as the project’s back story shows – the East-West Link was always more about politics than economics.
<h3>Courting cars</h3>
For many years, the only groups calling for a tunnel to link Melbourne’s Eastern and Citylink freeways were the <a href="https://www.racv.com.au/wps/wcm/connect/racv/Internet/Primary/home" target="_blank">RAC of Victoria</a> and <a href="https://www.vicroads.vic.gov.au/" target="_blank">VicRoads</a>. The problem was that the tunnel never made economic sense when it was just a freight project, yet most attention in the transport planning system was on public transport, where demand was growing rapidly. The East-West tunnel needed a large dose of cars to justify it.
Enter Tony Abbott, who <a href="https://www.smh.com.au/federal-politics/federal-election-2013/tollfree-eastwest-link-preferable-tony-abbott-20130902-2t0ff" target="_blank">pledged A$1.5 billion</a> before last year’s <a href="https://theconversation.com/au/topics/federal-election-2013">federal election</a> for the East-West plan, arguing that Australians love their cars and public transport was not in his federal knitting.
The East-West project grew in concept and soon became a massive capital cost, with the price tag for the whole plan, including the western extension to Melbourne’s port, threatening to <a href="https://www.theage.com.au/victoria/state-budget-2014-major-road-and-rail-projects-worth-24b-to-transform-melbourne-20140506-zr5mj">hit A$10 billion</a> and swamp the transport budget.
Meanwhile, in the waning days of the first <a href="https://www.infrastructureaustralia.gov.au" target="_blank">Infrastructure Australia</a> (on which I was privileged to serve for four years), it became obvious that the East-West tunnel and Sydney’s <a href="https://www.westconnex.com.au" target="_blank">WestConnex</a> would never be subject to the scrutiny of our process. They were to be seen as purely political projects and the case for their going ahead would depend on their popularity, not on value for money.
<h3>Why tunnelling Melbourne was a bad idea</h3>
The old shibboleth that building roads is vital for improving the economy is no longer true. Economic growth has divorced itself from car dependence (my new book with <a href="https://theconversation.com/profiles/jeff-kenworthy-15708" target="_blank">Jeff Kenworthy</a>, <a href="https://www.bibliovault.org/BV.book.epl?ISBN=9781610914635" target="_blank">The End of Automobile Dependence</a>, traces the fall of the empire of car-based planning).
Growth in the Victorian and Australian economies now depends on the growth in “knowledge economy” jobs. These jobs at the creative, productive, innovative edge of our economy are now firmly enmeshed in the dense centres of our cities.
As the US urban economists Ed Glaeser and Richard Florida have <a href="https://blog.ted.com/2012/02/29/cities-ed-glaeser-at-ted2012" target="_blank">shown</a>, the knowledge economy depends on close interactions between creative people and those who can deliver projects. This work requires intensive spaces in cities, which in turn need intensive modes of transport to enable them. This means that rail, cycling and walking are critical to the knowledge economy. Although heavily into digital communications, knowledge economy workers need face-to-face contact and are now shifting back into central and inner city locations to optimise this process.
In contrast, cars and trucks are dispersive modes of transport, and are needed for the consumption economy. These jobs are important too, but are essentially based in the dispersed spaces of the suburbs. These jobs are not the ones we are seeking as much as those in the knowledge economy, because they do not drive productivity growth as effectively.
It is no wonder that around the world, we are seeing <a href="https://www.scirp.org/journal/PaperInformation.aspx?PaperID=38472#.VH1FI2SUdgA" target="_parent">declining car use per capita and growing public transport use</a>, as well as a widespread return to formerly neglected inner cities.
The six most walkable US cities have <a href="https://urbanful.org/2014/06/20/walkable-cities/" target="_blank">38% higher gross domestic product than the national average</a>. Cities now compete on new measures such as <a href="https://www.nytimes.com/2012/05/27/opinion/sunday/now-coveted-a-walkable-convenient-place?_r=0" target="_blank">walkability</a> and <a href="https://www.livablecities.org/blog/value-rankings-and-meaning-livability" target="_blank">livability</a>. Governments everywhere are aiming to build quality rail projects and make city centres more human in scale. Even <a href="https://www.canberratimes.com.au/act-news/canberras-780m-light-rail-line-gets-final-go-ahead-business-case-to-be-released-20140915-10gzr3">Canberra</a> and <a href="https://www.parracity.nsw.gov.au/work/business_in_parramatta/strategy/solving_transport_problems/light_rail_for_western_sydney">Paramatta</a> are joining in, as they work out how to build light rail.
Melbourne has one of the most attractive city centres in the world for knowledge economy jobs. It needs to ensure that this is not lost by tipping more cars into its walkable centre. Instead it needs to encourage commuting by rail, bike and on foot.
<h3>Change in the air</h3>
Victoria’s people have now spoken. The East-West Link will be scrapped, and should be replaced by more sensible transport planning. Melbourne does need to improve east-west access for people and freight, but it should not be beyond us to find some solutions that do not break the bank.
Clearly there are plans for upgrading rail access through several proposed rail projects, including the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-11-19/melbourne-rail-a-better-deal-than-east-west-toll-planners-say/5902268" target="_blank">original Melbourne Metro plan</a>, and the <a href="https://ptv.vic.gov.au/assets/PTV/PTV%20docs/Melbourne-Airport/Melbourne-Airport-Rail-Link-Study-Overview.pdf" target="_parent">Airport Rail Link</a>. <a href="https://ptv.vic.gov.au/projects/rail-projects/doncaster-rail-study" target="_blank">Doncaster Rail</a> should remain on the table, hopefully not for another 100 years, as it is a simple and direct way to move passengers east-west.
The freight system seems to be amenable to much simpler concepts than the East-West Tunnel, like those <a href="https://habitattrustmelbourne.org.au" target="_blank">presented by the Habitat Trust</a>, using several inland rail interchange facilities.
The <a href="https://www.propertyobserver.com.au/https://www.thefifthestate.com.au/spinifex/bays-precinct-five-principles-emerge-from-summit/69895">same principles</a> should lead New South Wales to modify the Connex West project, especially where it spills traffic into Sydney’s central and inner areas. Such traffic “solutions” actually harm the economy of inner urban areas, burying investment opportunities under bitumen for parking and road-widening, and congesting areas that already have too many cars.
The public can sense that we have to update the way we travel and how we build cities so they are not car-dependent. The road-building brigade needs to take a deep breath and see that their plans are old-fashioned. Perhaps the legacy of the East-West Tunnel will be that such projects will never again be foisted on the Australian public.
<img src="https://counter.theconversation.edu.au/content/34914/count.gif" alt="The Conversation" width="1" height="1">Peter Newman is professor of sustainability at Curtin University.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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po-LsXgBTHBmX

The East-West Link is dead – a victory for 21st-century thinking

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It’s not just the first time buyers who are eligible for government grants and assistance for purchasing property.
While prospective home owners that have previously owned a property will find themselves needing to jump through more hurdles, there are some available cash grants on the market.
Property Observer notes that not every state and territory has a grant or benefit for property buyers other than first home buyers and they have been omitted where this is the case.
<h3>ACT</h3>
In the ACT, there’s no grant but there is a concession available – the Home Buyer Concession Scheme (HBCS) – that allows those purchasing a brand new home or residential vacant land to have their duty charged at a concessional rate. This was once extended to established properties, but this ended in September 2012.
Currently, this applies to properties until 31 December 2014 with a total gross income threshold of $160,000. The property also counts if it has been “substantially renovated”.
The <a href="https://www.revenue.act.gov.au/home-buyer-assistance/home-buyer-duty-concession/1-July-2014-31-December-2014" target="_blank">ACT Revenue Office</a> also notes that property worth $540,000 or more is not eligible, with land having an upper threshold limit of $292,800.
<h3>NSW</h3>
The New South Wales New Home Grant Scheme is a $5,000 grant that has been available since 1 July 2012.
It applies to new homes, off the plan purchases and vacant land that you can build a home on.
The value of the new home must not be higher than $650,000, or for land, $450,000, to achieve the grant. 
<h3>NT</h3>
Up to $7,000 is available under the Principal Place of Residence Rebate in the Northern Territory. The concession is a stamp duty rebate.
This is only achievable by those purchasing a new home or land to build a home and the property can also have been “substantially renovated”.
<h3>SA</h3>
In South Australia, buyers aged 60 or more who are purchasing or building a new home may be eligible for an $8,500 Seniors Housing Grant. This has been available since 1 July 2014 and is set to continue until 30 June 2016.
A property value upper threshold limit is currently at $450,000.
For those not in their golden years, an Off the plan Stamp Duty Concession is potentially available for those buying a new or substantially refurbished apartment within select areas.  
The partial concession is available until 30 June 2016. You can read the amounts available on the <a href="https://www.revenuesa.sa.gov.au/grants-and-concessions/off-the-plan-concesson" target="_blank">RevenueSA portal.</a>
<h3>VIC</h3>
In Victoria, those purchasing off the plan are eligible for a concession that is deducted from the contract price of the cost of construction or refurbishment.
A concession is also available for those buying house and land packages for the construction of a new house, townhouse, apartment or unit and applies to a single lot development or a multi lot development.
Pensioners are <a href="https://www.sro.vic.gov.au/sro/sronav.nsf/LinkView/8F5F78F86966B677CA2575D0002A87C518E490D796850F8ECA2575C1008187C7" target="_blank">also available for a stamp duty concession</a>.
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jduke-EHk3XBmHkn

Grants for non first timers: Buying new property

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Harry Li, director of the McDonald Real Estate’s Springvale office in Victoria was REIV’s winner of the award for senior auctioneer of the year in 2014 and a finalist in the Australia and New Zealand auctioneering event held recently in New Zealand. 
He spoke to Zoe Fielding about what it takes to be a top auctioneer.
Harry Li (pictured above) started out as a real estate rookie in Victoria about a decade ago.
After four years in property sales, Li – now a director of McDonald Real Estate Springvale – turned his sights towards auctioneering.
“I felt that was a natural progression,” he says. “At the time the company did not have a full time auctioneer so I thought I would do the training.”
Basic auctioneer training teaches the foundations needed to run an auction sales campaign and the technical skills to call an auction.
Some auctioneers simply do the basics but Li goes much further. Over the years he has taken one-on-one training from other auctioneers, and sought guidance and tips from people with more experience. But the most important element of Li’s skills development is practice.
“Time is what it takes,” Li says. “I practice with a partner four times a week. It’s like going to the gym. If you want to build your muscles you have to train regularly.”
The pair conduct mock auctions on a weekly basis whereas Li says many auctioneers only train once a week or only practice their craft when they conduct auctions on a Saturday.
It’s the details that make a good auctioneer stand out from the crowd, Li says.
In addition to the technical skills, such as knowing the rules, keeping track of the numbers, and using the right type of language, an auctioneer’s general persona is important. The auctioneer must be likeable and “real”.
“You don’t have to be an aggressive person. Some people are more passive and that’s OK but you have to be able to read the play of the auction. You have to be flexible enough to handle the scenarios that come up,” Li says.
An auctioneer must know when to take large or small bids and how far to push the bidders.
The auctioneer’s performance can have a major effect on how much more a property sells for, regardless of whether it is snapped up under the hammer or passes in and sells during later negotiations.
“If the auctioneer gets on the wrong side of a buyer it can cost the seller a lot,” Li says. “It’s an art form and that plays a part when it comes to the final result.”
Li’s hard work has paid off. He was winner of the Real Estate Institute of Victoria’s award for senior auctioneer of the year in October and was a finalist in the Real Estate Institute of Australia’s auctioneering competition held in New Zealand.
Unsurprisingly, he is a big advocate of auctions, although he says they are not appropriate in all markets or for all homes. In a slow market, or when buyers have access to a large amount of accurate data about the property’s value, which might be the case for identical units in a large block for example, an auction may not be the best option.
“If it’s a highly competitive area and there’s good demand for properties an auction is the way to go,” Li says.
Competitive bidding can boost the price that the property achieves, pushing buyers to spend the maximum amount they can, or risk losing the auction to another more committed bidder.
Auctions also create a sense of urgency among buyers with auction day acting as a deadline by which they must make a decision on the property. In a private treaty sale, the process may be more drawn out.
The seller in an auction is protected by the reserve price, which means the property will not sell unless the pre-agreed level is reached.
After the hammer falls, the sale is final and unconditional. This allows the vendor to set specific sale terms, such as the settlement date, and prevents a buyer from backing out after the deal has been agreed. This is typically a benefit to sellers but it can limit the number of potential buyers as some people wish to purchase subject to finance, which is not an option with an auction.
Another potential downside of an auction is that engaging a specialist auctioneer comes with an additional cost, but if the campaign and auction are run well, the extra cost may be recouped through a higher sales price.
{qtube vid:=2l2YoUdC4eg}
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zfielding-GvX3Uq9KTa

Agent profile: Harry Li - what it takes to be a top auctioneer

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We know property in the western suburbs of Sydney has reached an all-time high.
Many of my family and friends, as well as clients, are selling their old home investments. They all know that their investments have reached an all-time high and think now the wisest move is to sell.
Renovation works are becoming too costly and older homes in Sydney's western suburbs are also becoming more and more untenantable. They can also see mandatory changes looming due to the dangers around asbestos and old led paint, therefore feel it is time to sell out. Frankly I don't blame them, most property managers found in these areas aren't aware of the dangers and possible claims against the landlord.
Investing is all about numbers and frankly, the numbers just don’t add up presently in terms of rents v cost to purchase.
This however is not the premise for this article. This article is about the future costs I strongly believe will be incurred by many property investors in these suburbs and in the near future.
Watch this space, because what the average real estate agent doesn’t know is alarming. Or maybe they do know, but just don’t tell you, since they just want to keep your management. Whatever the case, in my humble opinion, it will cost you a lot of money.
<a href="/expert-insights/welcome-to-the-asbestos-belt-of-sydney">As I wrote</a> in Property Observer recently:
“You can just imagine a tour guide calling out through the loudspeaker, ladies and gentlemen, please put your masks on as we are about to enter the asbestos belt of Sydney. To our right we see 40 year old/plus homes riddled with asbestos and to our left…more homes riddled with the same and led paint."
For now, if investors that own properties in the “asbestos belt” of Sydney, believe that we are far removed from <a href="https://www.cincinnati.com/story/news/politics/2014/10/23/poisoned-kids-forces-landlord-fine-pricy-clean/17779535/" target="_blank">what is taking place in the US</a>. Well let me once again say; it is only a matter of time before we follow suit.
I am one to believe there will be civil action against many landlords within three to five years. I further believe the “asbestos belt” will undergo a major possibly mandatory transformation within five to 10 years.
This may not only happen in Sydney alone, as a matter of fact, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-11-11/mr-fluffy-asbestos-home-owners-opt-in-to-act-government-buyback/5882940" target="_blank">the ACT have already commenced a similar program</a> to what I have been writing about for years. The worst case scenario for the owner is; for the value of the property to decrease to land value only and a further cost to demolish the old home made of fibrous sheeting. Or for the landlord to be caught up in a legal suit due to health issues, claimed by the tenants.
My stance on this matter, as once again written in Property Observer:
I can envisage a couple of scenarios occurring soon. One which will place real estate agencies in the firing line when tenants take action against the landlord for health issues, a dangerous position to be in. The second which can occur, is where agents fall short of their regulatory requirements to disclose possible hazards due to ignorance and/or neglect.
Can I say, ignorance from agents is no defence against any claim made by the tenant. Furthermore, blatant neglect to disclose hazards in the homes also by agents and all because they want to keep the management and don’t want to lose the landlord, is in my opinion criminal.
Further to this I see that the smarter agencies will soon be offloading managements belonging to greedy landlords that simply do not have an ounce of care nor intentions to rectify these hazards. To these agencies I say well done in advance.
What to look for when buying a home as an investment in Sydney Australia:
<ul>
<li>If it’s a fibro home and built pre 1986, you can be assured it has asbestos. 
</li>
<li>If it has been cladded, then it only shields the outer skin: what about the inside where tenants and trades people drill holes, affix nails and have exposed wall lining? Secure yourself on all sides. 
</li>
<li>Check the roof sheeting. Older homes generally have asbestos roof sheeting, again if affixed prior to 1986. 
</li>
<li>Ask the agent or agency that is selling the home to confirm when the home was built even if it is a brick home. Asbestos is found in the lining of the wet areas, bathrooms, kitchens and laundries. 
</li>
<li>Make sure you obtain a pest and building inspection report before you commit to a purchase. An outlay of a few hundred dollars may save you tens of thousands of dollars. 
</li>
<li>If you have or if you are considering purchasing an old home in Sydney's Western suburbs, be sure you have a strong property management team on your side. This should be a team that can protect you and the tenant from future issues, and can establish clear tenancy guidelines; to protect you from legal action and to protect the tenants from injury and harm.</li>
</ul>
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-thin.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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ealmedia-arK4DBYLjS

Why I wouldn't buy an old home Sydney's western suburbs

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Australia's close links to Asia, the fastest growing part of the world economy, was reason to be confident of the economy's future strengths, according to Philip Lowe, Deputy Governor of the Reserve Bank of Australia.
He noted exports to Asia are up by around 30% over the past five years in his address to the recent Australian Business Economists' annual dinner.
Speaking on factors affecting the national psyche and weigh on the national economic mood, Lowe stressed the Australian economy does have the foundations for a successful and prosperous future.
"How well we take advantage of those foundations depends increasingly on investment not in physical capital, but in human capital."
"I sense a degree of nervousness about our future among some commentators who sometimes ask: what happens to Australia after this mining boom is over?; how can Australian businesses compete internationally given our high costs?; and, where will the jobs come from in the future?
"These are all good questions," he said adding uncertainty was normal. 
"Given this, it is important that we guard against the possibility that this uncertainty mutates into chronic pessimism – that is, for it to become normal for us to think that our prospects are limited.
"If this were to become our normal mindset, then we would be well on the way to finding ourselves in the very world that we feared.
"We certainly have a number of strong foundations that provide the basis for this optimism. The question is how well we can use those foundations over the years ahead," adding he wanted to focus on the people-to-people relationship.
"Currently, around 8% of the Australian population was born in east and south-east Asia or India (Graph 1 below).
"This is up from less than 1% of the population around the time that I was born.
"In comparison, in the United States, only around 3½% of the population was born in Asia and for most European countries the figure is below 2%."
Graph 1
<a href="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph1.gif" target="_blank" title="Link, opening in a new window, to larger image."><img src="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph1-small.gif" alt="Graph 1: Population Born in Asia" title="Graph 1: Population Born in Asia" width="373" height="322"></a>  <a class="displayNone" href="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph1.gif" target="_blank" title="Link, opening in a new window, to larger image.">Click to view larger</a>
"There are also large numbers of students from Asia studying in Australia," Lowe said.
"Currently there are around 150,000 Chinese student enrolments at Australian educational institutions, more than double the number a decade ago (Graph 2 below).
"There are also large numbers of students from India, South Korea, Malaysia, Thailand, Vietnam and Singapore.
"All up, there are more than a quarter of a million Asian students studying here.
"In time, these students will add to the already vast network of our alumni across the region."
Graph 2
<a href="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph2.gif" target="_blank" title="Link, opening in a new window, to larger image."><img src="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph2-small.gif" alt="Graph 2: Chinese Student Enrolments" title="Graph 2: Chinese Student Enrolments" width="373" height="311"></a>  <a class="displayNone" href="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph2.gif" target="_blank" title="Link, opening in a new window, to larger image.">Click to view larger</a>
"The strong people-to-people linkages can also be seen in the broader data on international short-term arrivals (Graph 3 below)," he noted.
"At the moment, more than 250,000 citizens from Asia are travelling to Australia every month, with arrivals from China reaching nearly 80,000 a month.
"As is evident from the graph, these figures have grown very strongly over recent years.
"There has, of course, also been very strong growth in the number of Australians travelling to Asia for both business and leisure."
Graph 3
<a href="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph3.gif" target="_blank" title="Link, opening in a new window, to larger image."><img src="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph3-small.gif" alt="Graph 3: Short-term Overseas Arrivals to Australia" title="Graph 3: Short-term Overseas Arrivals to Australia" width="374" height="288"></a>  <a class="displayNone" href="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph3.gif" target="_blank" title="Link, opening in a new window, to larger image.">Click to view larger</a>
"Taken together, this deep and growing people-to-people engagement is an increasingly important national asset," he said.
"It helps us better understand the most dynamic part of the global economy.
"It promotes goodwill and can help identify cross-border business opportunities.
"Some of the students studying here will hopefully become ‘champions’ for our country when they return home.
"Others will remain here and use their knowledge and relationships in their country of birth to build new and stronger business ventures between our countries," he noted in the aim of achieving a highly productive, globally competitive economy that is operating close to, or at, full employment.
"Such an economy would be characterised by: a national currency with sustainably high purchasing power; sustainably high real wages; and sustainably high real returns on capital.
"High purchasing power and high wages mean that for each hour that we work we are able to buy more goods and services.
"And high returns mean that savers get rewarded when they take a risk or defer their spending and save for the future," Lowe noted.
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jchancellor-FAypfDUnLy

Vast alumni across Asia is one of Australia's economic strengths: RBA

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The eagerly awaited <a href="https://www.aph.gov.au/~/media/02%20Parliamentary%20Business/24%20Committees/243%20Reps%20Committees/Economics/44p/Real%20Estate/Report/Front.pdf" target="_blank" title="Report on Foreign Investment in Residential Real Estate">report on foreign investment in residential real estate</a> was finally released last week and yes, the House of Representative committee has done a reasonable job with its findings.
Although with closer scrutiny, many questions remain both unclear and without a definitive answer.
The Chair’s forward starts with a predictable warm and fuzzy moment: “Buying into the Australian Dream doesn’t come cheap.” 
Only to proceed to the most amazing faux pas: “There is no simple explanation for the decline in housing affordability – although lack of land supply (a government responsibility), underdevelopment (a government responsibility), state planning laws and regulations (a government responsibility), local council red tape (a government responsibility) and stamp duty and tax arrangements (a government responsibility) likely all play a part.”
 What a fascinating admission that surely warrants another inquiry into these frank admissions.
“According to Foreign Investment Review Board (FIRB) statistics, in the first nine months of this financial year, FIRB approved foreign investment into residential property of around $24.8 billion, 44% higher than the $17.2 billion approved during all of 2012/13. Much of this investment is concentrated in the Melbourne and Sydney markets. Most of the increase is attributable to proposed investment in new property, which at $19.3 billion for the first 9 months of 2013/14 is 79% higher than 2012/13. The total number of established property approvals for the first 9 months of 2013/14 is 5,755 compared to 5,101 for 2012/13.”
Then the clanger: “First, there is no accurate or timely data that tracks foreign investment in residential real estate. No-one really knows how much foreign investment there is in residential real estate, nor where the investment comes from.” 
That being the case then how can the House Economics Committee find that foreign investment is not causing distortions in the Australian housing sector – when by their own admission they concede they have no idea how much real estate has been sold to foreign buyers?
Then of course: “During the course of the inquiry, it came to light that no court action has been taken by FIRB since 2006. During the entire Rudd-Gillard-Rudd government, not one divestment order was issued, which means that not one government sale of illegally acquired property was made. This compares with 17 divestment orders between 2003 to 2007 when foreign investment in residential real estate was at much lower levels.”
They quite conveniently failed to mention that for some strange reason the Rudd government abolished FIRB approvals to foreign investment during the course of the global financial crisis. At the time it was most unclear as to what was exactly happening as decisions based on FIRB appeared at best chaotic. How can you then prosecute when the Rudd government made this totally legal?
Of course the bull in the china shop (no pun intended) is those many loopholes that exist to overseas buyers in that it is very easy for a family member who resides overseas to simply transfer monies into an Australian bank account. The family member here goes out and buys a property in their name and when the overseas family member gains Australian residency they simply pay the stamp duty to transfer the property into their own name.
Alternatively, attaining Australian residency can take a few years so it is much easier to take up New Zealand residency – an almost immediate process. New Zealanders are permitted to buy all forms of Australian real estate so it is very easy to beat the system. It is just a shame that the Senate Inquiry missed many of the existing trap doors that remain open in the Australian property industry today.
Of course it is just a mere coincidence that the Chinese government requested a bipartisan arrangement with the Australian government to process the identities of all Chinese buyers who purchase Australian real estate. Cue the establishment of a national register of land title which still requires approval from the states and territories – who are yet to be consulted on this measure.
Then of course the recently announced Free Trade Agreement with China allows any Chinese national full access to acquire any commercial or agricultural property up to $1 billion. 
I’m really struggling to get my head around this.
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robertsimeon-hRNTwJyXkQ

Foreign buyers inquiry leaves many questions unanswered

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<a href="https://www.smartcompany.com.au/growth/economy/35550-scandinavian-fashion-brand-cos-to-open-in-australia">Scandinavian brand COS</a> opened its flagship store on Friday to long lines in Melbourne; proving Aussie consumers are still hungry to be served up fast fashion from the big overseas players.
On Friday afternoon at the flagship store in Melbourne’s newly refurbished The Strand arcade, a line of eager shoppers waited patiently as staff served customers inside at full capacity.
The brand, short for Collection of Style, sits under the H&amp;M Group umbrella, which <a href="https://www.smartcompany.com.au/marketing/sales/41400-h-m-set-for-australian-roll-out-as-its-first-local-store-launches-tomorrow">launched in Australia</a> in April to incredible demand. COS is at a higher price point to sister brand H&amp;M and appeals largely to a work-wear market with its simplistic Scandinavian design aesthetic.
Retail Doctor Group director Brian Walker told SmartCompany COS is a “very on trend” brand in the fast fashion category.
“There’s definitely an appetite here for it,” says Walker.
Walker says the strong launch of the brand illustrates the “social buzz” created by a big retail opening, pushed along by a strong social media campaign.
“There’s no doubt we always love something new in the retail mix,” says Walker, who believes the hype will “die down” as the brand settles into the retail landscape.
“It will find its place, like Zara and Topshop, as they all do,” says Walker.
Walker says brands such Witchery and Country Road will not be too threatened by the arrival of an international brand in the higher price point category.
“It is a broad category, so competition can actually be very healthy,” says Walker.
Walker is tipping another big year for Australian fashion retail: “At the end of the day, 2015 will be at least as big as 2014.”
He says the flood of international retailers to Aussie shores will not be slowing down, with brands like River Island and Sephora set to open next year.
“The other side of it though is that it is a finite market, we will definitely see some closures domestically,” he says.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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krobb-aCrRNnPq6D

Long lines at COS opening proves appetite for overseas fashion brands remains

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The US arm of collapsed fast food chain Pie Face could be in for a costly legal battle, with a New York-based building company initiating legal action against the company, which it alleges wrongfully terminated a contract and failed to pay bills of up to US$360,000 (A$425,129).
Building company AT Concept has launched a claim against the Pie Face store near Hell’s Kitchen as well as parent company Pie Face Holdings in the Supreme Court of the State of New York, <a href="https://www.theaustralian.com.au/business/pie-face-pursued-for-building-debts-in-the-us/story-e6frg8zx-1227140189885" target="_blank">according to News Corp</a>.
In its claim, AT Concept said it was engaged by Pie Face Holdings to construct the store in 2013 for an agreed price of US$303,560, with the bills for the project later climbing to $US360,000 due to new demands from Pie Face management.
But AT Concept alleges Pie Face breached its contract by failing to pay for the completed work and later terminating the contract.
“At the time the plaintiff’s contract was wrongfully terminated, it had completed work in the amount of US$313,831.35, no part of which had been paid, except the amount of US$194,069.08, thereby leaving a balance due and owing of US$119,762.27,” the AT Concept claim states.
The building firm is hoping to recover this amount through the court action, as well as legal costs and fees.
According to News Corp, Pie Face has denied the claims. Jirsch Sutherland, the administrators of the Australian Pie Face business, declined to comment when contacted by SmartCompany this morning.
The lawsuit follows the quiet closure of six out of seven Pie Face stores in New York City in October, just weeks before the Australian business plunged into administration.
Administrator Sule Arnautovic of Jirsch Sutherland <a href="https://www.smartcompany.com.au/growth/franchising/44816-pie-face-company-stores-in-melbourne-close-ahead-of-meeting-with-franchisees-next-week" target="_blank">said on Friday</a> that 20 Pie Face stores have closed as part of the voluntary administration process, with 130 part-time employees losing their jobs.
A meeting of Pie Face franchisees, management and administrators is expected to take place this week, while a meeting of creditors is scheduled for Wednesday.
Macquarie has emerged as the one of the troubled chain’s secured creditors and last week appointed Ferrier Hodgson partners Steve Sherman and Peter Gothard as receivers to a number of key Pie Face assets.
A spokesperson for Ferrier Hodgson said this morning Sherman and Gothard have been appointed as receivers for “cash at bank as well as shares held in Pie Face Inc, as well as director loan accounts” in Pie Face Holdings.
However, the spokesperson says Ferrier Hodgson will not have any involvement in determining if a Deed of Company Arrangement will be presented to Pie Face creditors.
“This is a matter for the voluntary administrators and creditors generally,” the spokesperson says.
<a href="https://www.smh.com.au/business/retail/how-pie-face-cooked-its-own-goose-20141128-11vbpq" target="_blank">Fairfax reports</a> Ferrier Hodgson has been appointed as receivers to control the agreement between Pie Face and high-profile US casino developer Steve Wynn, who made a $15 million investment in Pie Face’s US operations in 2012.
SmartCompany has contacted Wynn but is yet to receive a response and has been unable to contact AT Concept.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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