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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Australand has announced a Thursday morning update on acceptances regarding Frasers bid which have now reached 32%.
Frasers Centrepoint Limited offer to acquire Australand was just over halfway there, with the prior announcement when there was 24 hours to go.
At 6.30 pm Wednesday, offer acceptances received totalled 28.65%. 
<a href="/expert-insights/investing/frasers-australand-takeover-bid-still-short-as-deadline-draws-closer">Acceptances of more than 50% of all Australand securities must be received by 7pm</a> Thursday, or the offer will lapse.
Unofficially Frasers controlled 43% of Australand’s register and should surge over 50% by 4pm on Thursday afternoon, the Australian Financial Review Street Talk column suggested late morning.
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jchancellor-FAypfDUnLy

Frasers' Australand takeover acceptances pass halfway with 24 hours to go

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A second New South Wales UNIQLO store has been announced, this time for the Macquarie Centre. It follows their May announcement that their first Sydney store will be in Pitt Street Mall.
The Macquarie Centre, North Ryde store, which will be 1,514 square metres, looks to take advantage of the current $440 million redevelopment of the centre that will house 130 stores.
UNIQLO’s store will include their apparel, including their spring/summer 2014 collection, including men’s, women’s, children and baby wear.
They have recently announced the opening of their second Victorian store, in Chadstone Shopping Centre. Both this, and the Pitt Street Mall store, will open in late-2014.
Their first Australian store was opened in April at Emporium Melbourne.
Shoichi Miyasaka CEO of UNIQLO Australia said that growing the brand in Australia is important.
UNIQLO opened their first store in Singapore in 2009, Malaysia and Taiwan in 2010, Thailand in 2011, the Philippines in 2012 and Indonesia in 2013.
Most recently, <a href="/expert-insights/investing/h-ms-first-sydney-store-set-for-a-16-october-opening-at-macquarie-centre-north-ryde">H&amp;M also announced that they would be opening their first Sydney store</a> in the Macquarie Centre.
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jduke-EHk3XBmHkn

UNIQLO to open Macquarie Centre store later this year

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GUEST OBSERVATION
What is proposed? 
The proposal is an exemption from unnecessary real estate agent licensing requirements, and other regulation, for agents managing on behalf of ‘large professional commercial property owners’, including those agents managing for ‘related entity’ property owners (e.g. AMP’s shopping centre management arm managing on behalf of AMP-owned shopping centres).
Why shouldn’t these agents hold a real estate agents license? 
The real estate agents license is exclusively oriented to residential real estate and teaches the holder nothing about commercial property work. Large commercial property owners (such as Dexus, AMP Capital Investors and Stockland) understand fully the risks involved in commercial real estate transactions.
They do not need the protection of Parliament in their business affairs. All this does is add unnecessary costs.
Why not have a special license for commercial property? 
There is no need for a licence. Because the present license is irrelevant, large professional commercial property owners have instigated their own intensive on the job, and off the job, training for their staff.
The Property Council Academy also provides specialised professional development courses. The training of commercial property staff in Australia is admired around the world.
Will this have a major impact on commercial property? 
No. This will affect fewer than 1% of commercial property buildings and more than 96% of commercial building sales will be unaffected.
If it has such a limited impact, why bother doing anything? 
This is a major cost for commercial property owners since they have to send staff off to gain an unnecessary qualification and provide staff cover for them while they are doing so.
It also hamstrings them in making efficient staffing arrangements. This also means taxpayers’ money is being spent unnecessarily administering and enforcing this regulation.
What effect will it have on tenants? 
None. Retail tenants are protected by retail tenancy legislation (such as the Retail Leases Act) and this reform is supported by the major retailer associations. It has never previously been claimed that the estate agents legislation was a protection for tenants.
Are any other States doing this?  
Yes. The Queensland has already legislated for these exemptions in its new Property Occupations Act which is expected to begin operation in September.
The government said this was a major initiative to reduce business costs in Queensland. The Victorian government has also announced it will do the same, following a recommendation from its independent Red Tape Commissioner. 
Will this have any implications for home owners and home buyers? 
None. This does not affect residential real estate.
Will this have adverse implications for small and medium sized commercial real estate agencies? 
No. This will only benefit large commercial property owners. These do not use small commercial real estate agencies for their management. Those large commercial property owners who do use large third-party managers (such as JLL, Savills) will still opt to use those agencies because they bring professionalism and experience.
Why did State Governments require regulation and licensing of these large commercial property owners in the first place? 
This was regulation by historical accident. The original legislation was in existence prior to the rise of the professional commercial property industry in Australia and before the founding of companies such as Westfield (now Scentre Group) and Stockland. Because an agency relationship existed between these companies and their managers (even when the manager was a ‘related entity’) they were ‘caught’ by the legislation.
If this removal of regulation so minor, why are the Real Estate Institutes opposing it? 
Not all REIs are opposing. The REI Queensland supported the exemptions, although it specified a minimum threshold for defining a ‘large commercial property owner’. We agree with their minimum.
The attitude of the REINSW and REIV is puzzling since it will have such a limited impact. We have been told privately by some of their officials that they fear this will be the ‘thin end of the wedge’, leading to the removal of all licensing requirements for commercial property agents. They fear this will lead to more competition in the industry. This should not be a consideration for governments.
Is there a precedent for removing a portion of an industry from regulation? 
Yes. It is common for Parliaments to decide that there are entities that are large enough, and commercially sophisticated, to look after themselves in commercial transactions.
For example large retailers (those whose floor space is more than 1,000 square metres or whose rent exceeds a certain threshold) do not get the protection of the Retail Leases Act.
Parliaments decided that retailers such as Coles and Woolworths do not need the protections of this legislation, which was to be confined to ‘small retailers’. This is the same.
Companies as large as AMP and Lend Lease do not need to be protected in business dealings with their managers.
Is this being rushed through? 
No. Debate on this issue has been going on for more than 10 years. The ‘related entity’ exemption has been recommended (twice) by the NSW Independent Pricing and Regulatory Tribunal (IPART) and by the independent Review of the NSW Property Stock and Business Agents Act. 
Both the ‘related entity’ and ‘large property owner’ exemptions were recommended in the Regulatory Impact Statement on the proposed national license for real estate agents. Both exemptions were recommended in Queensland by the Red Tape Reduction Review of the Property Agents and Motor Dealers Act, which led to the exemptions being legislated in Queensland (see Q.6). 
Milton Cockburn is an adviser to Shopping Centre Council of Australia.
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po-LsXgBTHBmX

Why real estate agent licensing requirements for large commerical property owners are unnecessary 

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Prices for corporate car spaces outside of Melbourne CBDs have doubled as supply dwindles, according to Savills.
The Quarter Times Melbourne Office report from Savills Australia recorded that car spaces in the suburbs, notably within the inner east and south-east and CBD fringe, have seen their rent increased by up to 145%.
In some instances, this looks like a $90 per calendar month car space rent in mid-2009 jumping to between $170 to $220.
Meanwhile, the cost of parking in the CBD is up 27%, from $550 as the top monthly rate in mid-2009, to $700 in 2014.
St Kila Road parking remains at the same rate - $240 to $300 per calendar month.
The huge rises in some areas is noted as reflecting the increasing sale and commercial development of smaller infill sites and allotments that had previously been used as cheap car parks, explained Savills Australia Victorian head of research Glenn Lampard.
“Melbourne has some of the fastest growing metropolitan regions in the nation but governments have been slow or unable to provide the necessary public transport infrastructure. That means our roads become clogged with cars looking for a parking space,” Lampard said.
“Consumers that frequent our vibrant inner city retail strips would only be too familiar with this issue over recent years, with a plethora of parking meters going beyond the retail strip, stretching into surrounding streets,” he said.
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Leases jump by up to 145% for car spaces outside Melbourne CBD: Savills

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Industrial property’s total vacancies continues to increase, according to Knight Frank Research, with 2.17 million square metres on the eastern seaboard available.
For perspective, this is 29% higher than Knight Frank recorded 12 months ago in their Industrial Vacancy Analysis.
Much of this vacancy rise has been a result of Melbourne’s market – which has increased by 29%.
Knight Frank national director of Research &amp; Consulting Matt Whitby said that rises have also been seen in Brisbane, and in Sydney, which has stopped an improvement previously being recorded.
“As at July 2014, the Melbourne industrial market continues to account for the highest proportion of east coast industrial vacancies with a 37% share of available space followed by Sydney which accounts for 36% of vacant space and Brisbane accounting for a share of 27%,” said Whitby.
“Although the level of prime grade industrial space across the Australian East Coast market remains marginally lower than secondary accommodation, the gap continues to narrow.”
Whitby also said that firm enquiry is still being seen for sub-2,000 square metre leasing options, and tenants are continuing to upgrade to prime industrial stock.
“This reaffirms the trend, in evidence since late 2013, where companies are increasingly making decisions for the longer term off the back of greater confidence levels, rather than taking short term space within secondary buildings as a hold over measure,” he said.
“With some further speculative supply in addition to several pending vacancies forecast to be added to the vacancy count in the October quarter, the market will be looking to an improvement in leasing absorption to prevent a further increase in the level of available space”.
Total vacancies of prime stock, as of July 2014, is at the highest level since the series began, and accounts for 49% of east coast vacancies, the report explains. This is 34% higher than just two years ago.
However, managing director of industrial Greg Russell said that it’s actually a promising outlook across the east, as tenant requirements begin to pick up.
“Not only is prime available industrial space well above the long term average, but speculative development (both completed and under construction) increased sharply over the past quarter, rising by 56% to total 277,452sqm and now accounts for 13% of all East Coast industrial available space,” said Russell.
Despite this, the pipeline of “speculative development” under construction has almost doubled over the past quarter and is at the highest level since the beginning of the series.
“More options continue to emerge for larger space users in Sydney, with 18 prime opportunities above 10,000sqm (compared to 14 last quarter), while 15 over 10,000sqm exist in Melbourne (down from 16 options), and there are nine prime vacancies above 8,000sqm in Brisbane (compared to eight last quarter),” he said.
In Sydney, CBRE research has suggested that a significant number of new developments will prove a positive for the industrial property market, with their 2014 Industrial MarketView Q2 report suggesting it will be a strong base.
They noted that by the close of 2014, 600,000 square metres of new supply over 5,000 square metres will be added to the market.
CBRE research manager Mark Lafferty has said that the scheduling of the projects would be a positive, but that there is uncertainty around the funding of some projects.
“As a result, the surrounding industrial markets are positioned to benefit from a lift in investor sentiment levels, as well as stronger demand for industrial space,” he said.
“The greatest additions of new supply are in Sydney’s outer west, where 58% of the 2014 supply pipeline is being delivered,” Lafferty said.
“Future supply is being built to best service the growing transport and logistics sector, with a focus on super prime logistics facilities that have sound accessibility to existing and planned transport infrastructure.”
Major projects include the $11.5 billion WestConnex project and the $3 billion FS-M2 tunnel link.
Sydney’s industrial sales activity also saw an uplift, with $395 million selling over the three month period – up 73% from the same quarter in 2013.
See over page for a state-by-state breakdown.
Turn to page three for information about industrial sector yields.
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KNIGHT FRANK’S BRISBANE, MELBOURNBE, SYDNEY AND PERTH ROUND UP
Brisbane
<ul>
<li>Available space up to new highs over past quarter 
</li>
<li>Above-average take-up of space</li>
</ul>
Knight Frank managing director of industrial Greg Russell:
The take-up indicated that there is been a welcome return to the market of smaller to medium size tenants with ten of the 17 vacancies absorbed over the quarter under 5,000sqm, which is the lifeblood of much of the Brisbane market. At the same time, there is also strong demand at the larger end of the scale, which was dominated by retailing or logistics occupiers who are currently focused on newly built accommodation.
There has been good absorption of both speculatively developed and D&amp;C offerings in recent months, and while this is a positive in terms of demand, the backfill space left by these larger tenants has been a factor in the vacancy increases.
Take-up was strongest in the South and South West markets, as the South saw significant take-up of secondary space and the South West saw solid absorption of prime assets, boosted by speculative construction in the region. Good take-up of speculatively developed space is expected to trigger more commencements in the South West, South and TradeCoast markets.
Sydney
<ul>
<li>Vacant property levels up 12.6% over the past quarter 
</li>
<li>Now at 770,014 square metres total vacant space 
</li>
<li>Increase in available speculative stock</li>
</ul>
Knight Frank managing director of Western Sydney Derek Erwin:
Gross take-up for the quarter to July measured 98,276sqm, which is 17% below the average level since the series began in 2011. Additionally, the absorption figure continues to be boosted by some vacant possession sales to owner occupiers. Absorption of prime stock has outpaced secondary by a factor of two to one over the past 12 months (excluding D&amp;C’s).
Fifty-three per cent of take-up (excluding D&amp;C’s) over the past 12 months has occurred in the Outer West, while additional deal activity in the region has also been achieved in the pre-lease market given land availability. It is noted, however, that land supply is expected to start seeing some of the pre-lease demand move into the North West and South West regions in the short to medium term.
Melbourne
<ul>
<li>Three months to July 2014 saw available industrial space increase by 10% 
</li>
<li>Total of vacant space now at 807,269 square metres 
</li>
<li>This is the highest level in almost five years 
</li>
<li>It’s 38% above the historical average 
</li>
<li>Take up has been stable for the past three quarters 
</li>
<li>Increase in available speculative stock</li>
</ul>
Knight Frank’s state industrial director Gab Pascuzzi:
The second quarter total take-up of 82,107sqm across eight buildings greater than 5,000sqm, remains 41% below the historic average of 138,961sqm. Notably, gross absorption recorded over the quarter was entirely within backfill space.
Speculative space under construction grew by 20,299sqm to reach 61,771sqm, 27% above its long term average. Four out of the seven projects currently under construction are located in the South East, while in contrast there are no speculative developments under construction in the West.
Perth
<ul>
<li>Over the quarter, available industrial space increased by 8% 
</li>
<li>Available space now totals 303,562 square metres 
</li>
<li>An influx of sub-lease space has entered the market, up 42% on last quarter 
</li>
<li>Sub-lease space available totals 69,776 square metres – 23% of the total</li>
</ul>
Knight Frank state industrial director Jarrad Grierson:
A growing number of vacancies has offset relatively strong leasing take-up over the three months to July 2014, as an increasing number of smaller secondary assets become available in the Perth Industrial market.
See over page for information about the leasing environment for the industrial sector.
<hr class="system-pagebreak">
New information from JLL has looked into the currently available yields for investors looking towards industrial property, noting that the stable fundamentals are attractive to many.
According to their quarterly research statistics, transaction volumes are indeed up 35% in the first half of 2014 compared to the same period in 2013, with almost $1.6 billion in industrial sales year-to-date 2014.
Melbourne and Sydney have led the sales activity in the second quarter of 2014. Construction wal also noted to be accelerating, with new supply to get to a record high since 2008 levels, and average rents to remain steady.
JLL head of industrial Michael Fenton said that investment activity is at present very solid, with capital allocation to the industrial sector exceeding available product by five times.
The average sale price in 2014 totals $18.4 million, with a $21 million record per sale set last year.
 “Our expectation is that vendors will increasingly be encouraged by price signals and the depth of capital evident in the market to selectively bring assets to the market to crystalize gains made over recent years or to exit underperforming assets,” said Fenton.
“Buyers remain led by the major and smaller domestic A-REITs and their managed funds, mid-tier boutique funds, syndicators and some high-net worth private investors.”
In the second half of 2014, the expectation is that larger offerings will see offshore interest, and Fenton predicts one or two new entrants without current exposure to Australian property.
Upcoming expectations include the first time that more supply has been completed in Brisbane than Sydney, and the first time since 2006 that Melbourne has overtaken Sydney.
Softer leasing is being experienced in Melbourne and Brisbane for both rental growth and market incentives.
Minimal evidence of rental growth over the past few quarters was recorded, with flat average face rents.
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Industrial property vacancies continue to rise, but overall outlook promising: Knight Frank

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CBD office markets in Australia are still seeing substantial foreign investment interest, with sales to foreign investors recently topping their 10 year record, according to Savills.
Approximately $12.8 billion of office sales, including those outside the CBD, were recorded in the 12 months to June 2014. Foreign buyers were responsible for 39% of the sales - $5 billion, explains Savills national head of research Tony Crabb who compiled the information.
<img src="/images/2014/08/06/savills-aug-6-one.gif" alt="">
During the 12 months, 246 properties were purchased. In the 12 months prior, the total was 199, and the five year average was recorded as 191.
Of $6.8 billion of CBD office transactions nationally, foreign investment totalled 47% of the purchases, or $3.2 billion, with much of the capital coming from Europe and South East Asia, as well as Mainland China.
<img src="/images/2014/08/06/savills-aug-6-two.gif" alt="">
Savills International Investments’ Ben Azar said the results were positive for the market.
“This is a very good sign for the Australian property market and as a result in key markets such as Sydney and Melbourne we anticipate further yield compression particularly in respect to quality long leased landmark assets,” said Azar.
"With such a depth of buying power we expect the off-shore capital to become even more competitive over the balance of 2014," he said.
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Australia’s CBD offices maintain place on foreign investment radar

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The Blue Buddha is a new vegan offering to Melbourne’s café scene.
Officially opened on 27 July, the vegan café is located opposite the Queen Victoria markets.
With a focus on Fairtrade, organic and vegan coffees and food, the store’s fit out also includes recycled materials for their tables, chairs and crockery.
The food includes raw cakes, such as avocado chocolate cake, and a shitake mushroom based vegan bacon.
Located at 30/1 O'Connell Street, North Melbourne, it is a small 44 square metre site now painted with a frontage of a blue Buddha, to match the shop’s title.
<a href="https://sha.com.au/view.php?listing_id=5624" target="_blank">Upstairs is currently available for lease</a> as student accommodation in the Victoria Terrace Apartments development with 15 studio and 12 one-bedroom fully furnished apartments from $280 per week through Student Housing Australia.
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Blue Buddha, vegan café opens in North Melbourne

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A new record land rate for North Melbourne, of $6,358 per square metre, has been set by a Chinese buyer who paid $13.2 million for an office building on the edge of the CBD. This totaled 32% over reserve, according to Savills Australia selling agents Clinton Baxter and Nick Peden.
The property, 13-21 Bedford Street, was owned by Engineers Australia and is currently leased to six tenants totaling 52%.
It is a 2,219 square metre building on 2,079 square metre site. It is zoned mixed use, which has the potential for development of up to 24 metres or approximately eight levels.
It isn’t clear what the buyer intends to do with the site in the long-term, however redevelopment is a clear option. In the short to medium term, the property will be leased.
“The price of $13.2 million reflects a new land value record for North Melbourne of over $6,000 a square metre and is an indication of the immense competition for high quality properties with strong development fundamentals,” said Baxter.
In total, the campaign attracted 125 enquiries and 29 inspections.
There were then 11 expressions of interest, and Peden notes that the top three buyers were off-shore located.
“We have had enormous enquiry from off-shore buyers for similar properties with development potential and so it was no surprise that there was such strong foreign interest in this property,” he said.
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Chinese buyer pays 32% over reserve, a record land rate, for North Melbourne office site

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Investors secured seven NSW offerings of 7-Eleven service stations at auction yesterday, but the average 4.6% yield was tighter than the 6.8% two years ago.
Generating $33.08 million in sales, the top price was $6.01 million for a Lane Cove Road, Macquarie Park, North Ryde property (pictured above), which sold on a net yield of 4.96%.
 The other service stations sold on net yields of between 3.85% in Dee Why and 5.04% in nearby Mona Vale - all with 15-year leases to 7-Eleven.
The 15-year lease terms that commenced between 2010 and 2012, come with three five-year options; guaranteed fixed 4% annual rent increases, with the tenant responsible for all outgoing costs except land tax.
JLL’s John Macree, Leslie Cheng and Dylan McEvoy marketed the properties on behalf of the Withers Barlow Property Trust.
More 7-Eleven service stations, two in South East Queensland and six in Melbourne, will be auctioned this week.
Russell Withers, worth an estimated $665 million according to the recent BRW Rich list, jointly owns the rights to 7-Eleven in Australia with his sister, Beverley Barlow.
Jones Lang LaSalle has been selling the stores in tranches on behalf of 7-Eleven since early 2011.
The stores were purchased as part of 7-Elevens acquisition of 250 retail sites from Mobil Retail in 2010.
In 2011 seven properties in Thomastown, Clifton Hill and Noble Park in Victoria, Blacktown East, West Gosford and Long Jetty in NSW and Robina in Queensland were successfully auctioned by Jones Lang LaSalle with net yields ranging between 7.28% and 7.95%.
The purchasers have been attracted by land rich investment properties in prime locations with secure long-term leases and fixed rental increases.
7-Eleven Stores is the biggest convenience retailer in Australia, operating about 600 stores.
Many of the buyers were self-managed super fund retirees looking for passive cash flow investments, seeing the opportunity as ticking the box for a premium tenant on long-term lease, high underlying land value, rental growth guarantee, and high-profile exposure locations.
The New South Wales 7-Eleven convenience store and service station investments sold:
<ul>
<li>Ashfield, 132 Hume Highway – 1,524 square metres, sold for $4.9 million with a yield of 4.21%</li>
<li>Camperdown, 198 Parramatta Road – 1,107 square metres, sold for $3.65 million with a yield of 4.72%</li>
<li>Dee Why, 940 Pittwater Road – 1,867 square metres, sold for $5.05 million with a yield of 3.85%</li>
<li>Mona Vale, 38 Barrenjoey Road – 1,573 square metres, sold for $4.325 million with a yield of 5.04%</li>
<li>Macquarie Park / North Ryde, 404 Lane Cove Road – 1,716 square metres, sold for $6.01 million with a yield of 4.96%</li>
<li>Sans Souci, 476 Rocky Point Road – 1,538 square metres, sold for $4.55 million with a yield of 4.96%</li>
<li>St Ives, 157 Mona Vale Road – 2,257 square metres, sold for $4.6 million with a yield of 4.94%.</li>
</ul>
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Yields tighten in latest 7-Eleven Sydney service station offering 

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Clothing, jewelry and cruelty-free makeup shop Save Yourself is undergoing a move from the Hardwick Building to a new Brunswick Street address.
Their new address, set to be <a href="https://www.realcommercial.com.au/property-retail-vic-fitzroy-500967639%20%20" target="_blank">284 Brunswick Street, Fitzroy</a>, was up for lease through Fitzroys – Melbourne and has a floor area of 98 square metres. It adjoins the newly opened Stagger Lee’s café, includes rear access and had an advertised rent of $75,000 per annum plus GST and outgoings.
<a href="https://www.saveyourselfboutique.com.au/pages/the-shop" target="_blank">Save Yourself</a>'s opening date is yet to be confirmed, but will retain its focus on local and sustainably made eclectic products.
Formerly known as OKOK, known for hosiery, they officially opened their <a href="https://www.commercialrealestate.com.au/property/2009842498/for-sale/vic/brunswick/retail" target="_blank">Hardwick Building, Sparta Place, 459 Sydney Road store</a> as Save Yourself on 20 September 2012. Their last open day prior to the move was 19 July.
OKOK had held the Shop 16 property on a two year lease, with rent at $18,616 per annum plus GST. The store was 24 square metres plus mezzanine, with outgoings paid by the tenant.
At their Sparta Place residence they’d previously held pop-up bake sales with local Hello You bakery and held The Design Journey exhibition.
Their previous premises are re-let through Red Dot Real Estate.
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