National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

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The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

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Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

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Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

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Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

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Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

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Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

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One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

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There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

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The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

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The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

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Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

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?

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

The inflation result the property market was waiting for

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Melbourne’s retail market continues its strong run and continues to improve, according to Herron Todd White’s latest report.
The property valuation firm says that Melbourne’s retail property market has continued its strong run over the past 12 months with supply generally limited and yields firming and reflecting pent up demand and rising prices.
The steady low interest rate environment, strong Australian dollar and the ongoing perception of being a safe haven have all combined to drive strong interest from domestic and overseas retail property buyers.
The Melbourne CBD retail property market continues to go from strength to strength.
Despite approximately 50 new shops opening in the 12 months to January 2017, the vacancy rate is stable and below the five year average.
“Rents have remained stable and range from $1,500 per square metre for CBD shopping centre space to $11,000 for Bourke Street Mall frontage while yields range from 3.5% to 6.5% for CBD shopping space and 3.5% to 5.5% for the Bourke Street Mall.
St Collins Lane, formerly Australia on Collins, which completed a $30 million upgrade in 2016, sold in November 2016 for $247 million on an initial yield of approximately 5% and a rate of $27,444 per square metre,” the report stated.
The revitalised site offers over 9,000 square metres of retail space over four floors.
With street frontage to Collins Street and Collins Lane in the heart of the Melbourne CBD, the centre comprises 60 specialty stores, including international brands such as The Kooples, Reiss, Sandro Paris, TAG Heuer and Coach plus restaurants.
The Melbourne CBD apartment construction boom and consequential growing population have been the driving force behind the strong market.
With more retailers scheduled to open their doors in the Melbourne CBD, including British retailer Debenhams’ first foray into the Australian market, and more apartment completions, 2017 is shaping up to be another strong year for the retail property market in the Melbourne CBD.
Within the suburban shopping centre market, owners may however be affected by store closures following the recent collapse of a number of retailers including Pumpkin Patch, Herringbone, Rhodes &amp; Beckett, Marcs, David Lawrence, Payless Shoes and Howards Storage World.
"Many commentators are forecasting more retail brands, particularly clothing retailers or fast fashion competitors, to fold in the face of increased competition from overseas retailers such as Uniqlo, H&amp;M, Zara and the forthcoming arrival of giants Amazon and Alibaba as well as a gradual yet inexorable move to online retailing.
"Store closures may affect suburban shopping centres in particular as it is precisely these shopping centres that the above named global players have pushed into," the report tipped.
Local mid-market players are effectively squeezed out both in terms of retail price of clothing and also in costs with overseas players able to negotiate lower rents than their local counterparts.
While the closure of one or two stores may not have much of an immediate impact for shopping centre landlords, over the longer term shopping centre vacancies on a larger scale may combine to push sales growth and rental growth down, subsequently impacting income levels and values of shopping malls.
Meanwhile, council valuations are released on a two yearly cycle and council rate notices for 2017 are now becoming available, it advised.
"As land values have generally risen markedly across metropolitan Melbourne it is highly likely that land tax bills will also increase.
"Landlords are likely to face higher land tax bills from the State Revenue Office.
"Under current Victorian state based legislation (the Retail Leases Act 2003), landlords are unable to recover land tax from their retail tenants unless the occupancy cost (rent and outgoings) exceeds $1 million per annum or the tenant is a listed corporation or a subsidiary of a listed corporation.
"Consequently, owners may try to recover higher occupancy costs through increases in rentals which tenants may resist.
It is therefore possible that higher land tax costs could lead to more lengthy and greater numbers of dispute resolution processes relating to tenancy occupancy costs.
“For example, we are aware of one large retail site in Hawthorn where the site value increased from $10.05 million in January 2014 to $11.223 million in January 2016 with the current land tax bill increasing from $183,600 to $210,000.
Although the Melbourne retail investment market currently appears to be strong and purchaser interest for retail properties is relatively high, we are of the view that this is led by an optimistic buyer perception of the market direction and may not ultimately reflect what is actually happening with tenant demand, affordability and achievable investment returns on a property,” the report stated.
There appears to be a discrepancy between capital values and rental income growth as capital values within precincts experiencing this exponential growth appear to be indicating strong growth whilst rental income growth appears to be moderate in comparison.
As such, the market within these precincts may be more strongly affected by economic volatility.
The Melbourne retail market has experienced a significant strengthening in purchaser demand over the past 12 to 24 months.
We have witnessed several strong results in recent times and it is worth noting that there is a perception of a rising market at present.
A downturn in the economy or a softening in local market conditions could lead to downward pressure on demand and price in the short to medium term.
Purchasers and tenants alike are advised to ensure due diligence and proper market research is conducted prior to making purchase and rental decisions.
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j.ballantyne1990-6AQqhLzZaK

HTW expect increased Melbourne retail tenancy disputes after new State Revenue land tax valuations

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Brisbane’s commercial property market is expected to rise on the radar of investors over the next two years as yield compression reaches its peak in Sydney and Melbourne.
That was one of the key outtakes of CBRE’s annual Brisbane Market Outlook presentation, which highlighted the continued outperformance of Australia’s south east property markets had compressed yields to their tightest levels.
CBRE’s Head of Research for Australia, Stephen McNabb, said strengthening drivers in the Brisbane economy, coupled with an attractive yield spread, would drive an increase in investment over the coming years.
“The gradual improvement of Queensland’s economy, which has been gaining momentum over the past 12 months, is making Brisbane look more attractive – particularly given the yield in prime assets of 6 percent – 6.5 percent.
Office vacancy is forecast to drop below 10 percent by the end of 2019, which will support rental growth and ultimately yield compression.”
The presentation also referenced CBRE’s latest Investors Intentions Survey – highlighting 30 percent of Asian investors list Australia as their preferred APAC destination for investment.
“As the Sydney and Melbourne markets reach their peak in terms of yield, investors are looking for new locations – in particular markets that offer a higher yield spread,” Mr McNabb said.
The presentation was followed by panel discussion with CBRE experts – key points from which are summarised below.
Mr Baker said Brisbane was well positioned to capitalise on a shift in the investment cycle over the next two years.
“When capital pours into a strong market like Sydney, which is reaching its limit in yield compression, it starts to point to alternative markets that offer attractive yield spreads such as Brisbane,” Mr Baker said. 
“A recovery in Brisbane’s office occupier market will further support the attraction of capital, in addition to an increasing population lending itself to a sustained economic recovery.”
Mr Lawrence said for most borrowers, debt had become more important to their purchase and investment decisions given the current tight lending conditions and low for longer outlook.
“Australian Banks are facing a number of constraints at the moment in terms of capital costs and limits, resources and APRA focus on their property exposures. 
Australia is unique in the market share that domestic banks have in terms of property funding so these constraints have a large effect on the market,” Mr Lawrence said.
“The constrained conditions, particularly for development funding, are creating opportunities for alternative lenders.
Importantly many of these groups have a different capital model than the domestic banks.
This allows funders to provide loans with a longer tenor or a different risk/return profile than Australian banks.”
CBRE has active relationships with more than 270 lenders worldwide and is engaging with a number of these to develop Australian loan programs.
“We are seeing a significant increase in offshore lender appetite for Australia - often for the same reason that equity investors are attracted to Australia.
These funders are in a position to grow their lending books and provide a more diverse range of loan products than domestic banks,” Mr Lawrence said. 
Ms Fitzgerald said in an environment of relatively limited growth, property owners needed to seek out opportunities to optimise their portfolios, taking into account the importance of placemaking and customer service.
“It’s about creating places people enjoy and more importantly want to return to.
"Places that help people manage their work life balance.
"To provide that point of difference, property owners need to think beyond end of trip and gym facilities – they need to get a lot more creative,” Ms Fitzgerald said. 
“We create real value in our assets by providing focus on the experience and service offering."
For example, in September and October landlords might want to partner with tax agents for two weeks to provide a tax return service within the building.
"It’s still paid for by tenant employees, but you have facilitated the convenience – you have helped make their work life balance easier.
"It’s about reducing the impact of distracting, mundane tasks, so that people can focus on their work when they are in the office, or spend time with their family and friends in personal time.”
Mr Curtain said there had been a major shift in the focus of placemaking in the office sector over the past decade.
“For a long time the responsibility sat with occupiers to provide collaboration zones and additional amenities within the tenancy NLA. 
Landlords have now taken up this challenge and are offering a wide range of services and amenities to ensure the needs of their occupants from early in morning until late at night are catered for.
Major corporate organisations want to provide their people with a workplace experience that offers the same benefits as a five-star hotel.
This includes a comprehensive food and beverage offering, gymnasium, conference facilities and personal concierge.
Importantly, these services and amenities enhance productivity, and provide settings for people to collaborate and recreate within the work environment.
Grocon/DEXUS’ recently completed 480 Queen Street is a great example of this in practice offering 11 different food and beverage options, childcare, rooftop entertainment terrace and gymnasium.”
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Brisbane commercial landlords need to think beyond gym facilities 

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Property group Charter Hall Group has announced that its Direct Office Fund (DOF) has leased several floors in the glass wall skyscraper, 1 Nicholson Street, on the northern edge of Melbourne CBD for an eight-year term.
Leading water treatment and chemicals company Ixom has leased three levels of the building.
1 Nicholson Street is Melbourne’s first glass curtain wall facade skyscraper, designed by Bates Smart and built in 1958. The building comprises 18 levels of office, ground floor retail cafe and basement parking.
It is located opposite Parliament Gardens at the intersection of Lonsdale/Albert and Nicholson/Spring Streets with commanding views and natural light throughout.
Head of Charter Hall Direct, Steven Bennett said, “We are pleased to partner with an existing customer to deliver property solutions that meet their individual business requirements and create value.”
“We are excited that Ixom will continue to be located at the iconic 1 Nicholson Street building, and that they value the quality of the building and its strategic location in one of the most desirable precincts of the city,” Bennett said.
DOF currently comprises 10 office buildings in Sydney, Melbourne, Brisbane and Perth with a total value of $1.025 billion as of December 31, 2016.
The fund is currently open to investors who can expect to earn 6.25% per annum income distribution with the prospect of capital growth and the advantage of partial tax deferred tax returns.
DOF returned 15.9 percent per annum in the 12 months to 31 December 2016.
This compares to the benchmark return - the MSCI/IPD Australian Unlisted Wholesale Property Fund Index - of 11.1 percent over the same period.
“DOF is a flagship fund for the Charter Hall Direct business,” said Bennett.
"Its key characteristics of long WALE (weighted average lease expiry), 100 percent occupancy, exposure to the strategic markets of Sydney and Melbourne accounting for over 75% of the fund’s portfolio, conservative gearing, and high quality tenants, is emblematic of the Charter Hall approach to property investing and a reason for our ongoing success,” Bennett added.
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Charter Hall fund says Melbourne's iconic 1 Nicholson Street has new tenants

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Sales of retail properties in the Newcastle CBD continue to be slow, according to Herron Todd White’s latest report.
The property valuation firm says that there is a moderate level of confidence in the retail market; however, this is tempered somewhat due to major infrastructure projects not at the completion stage.
“As the new university campus on Hunter Street nears completion, which is expected mid 2017, we would expect to see more activity in the market as flow on from the influx of students and university staff to the CBD,” the report stated.
In addition to the university nearing completion the 1.66 hectare Hunter Street mall site was recently sold to a Sydney developer with plans to redevelop large portions on the site.
Early indications are that the development will include a large number of mixed use retail and residential developments, HTW noted.
“This will be a welcome change for the mall precinct, which has undergone a period of uncertainty during the time it was held by GPT.
Now, as some certainty comes back into this area we may see more activity,” the report stated.
The CBD is a tightly held market, and this is seen by the very low level of transactions in the past 12 months.
"This is not to say that there is no confidence in the market, more a willingness of owners and investors to wait for these major infrastructure projects to complete.
This willingness to wait for projects to complete is evidenced by the number of vacant retail shops in the immediate vicinity of these projects.
It is reasonable to presume that as projects progress these properties will be transacted, either as sales or rentals, as a result of the increased pedestrian traffic," the report stated.
HTW are seeing yields for retail properties in the mid 7 percent to 7.5 percent range.
It suggests confidence is definitely evident in the CBD and the next 6 to 12 months will provide good opportunities for current investors to maximise their returns as the number of people in the CBD increases.
"It will also make the CBD an attractive prospect for new investors and tenants, if these tightly held properties are put to market," HTW advised.
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Newcastle retail market slows down despite market confidence: HTW

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Address to the Australian Housing and Urban Research Institute, Melbourne: Scott Morrison

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Heritage Victoria has approved further developments to the former Richmond Maltings site mixed-use development in Cremorne, Victoria.
Caydon Property Group has proposed a two-stage residential and commercial development for Caydon’s Malt District.
The new plans include the restored and working Nylex clock above the extruded concrete silos.
The Victorian Civil and Administrative Tribunal (VCAT) approved stage one of the development proposal last year.
A major feature of the revised plans is the retention of a majority of the concrete silos under the Nylex clock that were previously earmarked for demolition.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/31/Cremorne_Rooftop_City_Final.jpg" alt="">
Jarrod Stratton, Caydon chief operations officer said the determination is significant because having agreement with Heritage Victoria on the heritage aspects of this important urban renewal site means we can confidently move forward on a project that has already captured significant public interest.
“We’ve listened to Heritage Victoria’s concerns about the original plans, and through constructive dialogue and collaboration have a consensus that includes further heritage retention, whilst still delivering our vision for the Malt District and a viable urban renewal project," he said.
"We will continue to consult and work closely with Heritage Victoria and other government officials on the remaining aspects of our plans, and appreciate their ongoing collaboration regarding this state-significant project.
"Retaining and restoring the significant heritage fabric of this site has always been a priority for Caydon, as has been returning the famous Nylex clock to working order for Melburnians to once again enjoy.
"We are now an important step closer to the Nylex clock being re-lit as a focal point of a great new destination for people to live, work and enjoy.”
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Heritage Victoria determination given to Caydon's Malt District redevelopment

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The mystery $22.4 million buyer of Mosman’s second most expensive house has been revealed as Bryan Rose, the son of property developer Bob and Margaret Rose.
His purchase, tipped by Fairfax Media, marks a triumphant return to Mosman for Rose, who grew up in the Balmoral Beach trophy home Seacliff.
The waterfront property was sold by Ying Li, from China, who had bought it in 2012 for $20 million.
The Bay Street estate was previously owned by retired car dealer Laurie Sutton and the late TV presenter Bob Dyer. 
It was sold through Mark Manners, of Simeon Manners.
Settlement is expected to confirm the sale price, but it is understood to have topped an underbid of $22.3 million.
Rose owns at Vaucluse where he bought almost a decade ago for $4.62 million.
Rose’s new Beauty Point estate was the home of retired car dealer Laurie Sutton for 35 years after it was sold in 1977 for $376,960 by the late television presenter and quiz show host Bob Dyer and his wife Dolly.
Rose Group was founded by veteran property developer Bob Rose in 1976, and his son Bryan is joint managing director with his brother Stuart.
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Pick a Box Mosman home sold to property developer Bryan Rose

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The television tradie James Bawden and his wife, interior designer Kimberley-Jade sold their single-fronted 1890s St Kilda East cottage ahead of its weekend auction.
No price reveal but Sotheby’s agent Sarah Case was seeking <a href="https://www.realestate.com.au/sold/property-house-vic-st+kilda+east-124955250" target="_blank">around $1.45 million</a> (below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/10/700_terrace1.jpg" alt="">
Bawden, who started his television career with Channel Nine’s Domestic Bliss then onto Network Ten’s The Home Team DIY show, bought it with Kimberley-Jade, who runs runs the Kim INC design studio, for $610,000 in 2014 which was followed by their renovation and extension.
It was one of the 166 Melbourne auction offerings snapped up ahead of schedule, according to the REIV. 
Melbourne's 81 percent success rate just sits behind Sydney's 81.5 percent with neither city unduly concerned by rising regulatory concerns about a housing bubble.
In Melbourne's outer west, Ardeer, it was a Sydney investor who snapped up a $731,000 <a href="https://www.realestate.com.au/property-house-vic-ardeer-124984098" target="_blank">three-bedroom brick veneer house</a> (below).
<img src="https://www.urban.com.au/images/2017/04/10/Screen%20Shot%202017-04-10%20at%209.12.02%20AM.png" alt="">
In South Yarra an expat living in Dubai spent $1,214,000 on a Moore Street single-fronted <a href="https://www.realestate.com.au/property-house-vic-south+yarra-124954986" target="_blank">two bedroom cottage semi</a> (below), The Herald Sun reported.
<img src="https://www.urban.com.au/images/2017/04/10/Screen%20Shot%202017-04-10%20at%209.13.56%20AM.png" alt="">
In South Melbourne, a charming ugly duckling left vacant for 40 years, sold through Greg Hocking Holdsworth to a couple for $2,635,000 who will be convert the former corner milk bar and adjoining classic terrace <a href="https://www.realestate.com.au/property/440-park-st-south-melbourne-vic-3205" target="_blank">into one family home</a> (lead image).
The effervescent national clearance rate tally came after the busiest week for auctions so far this year, as vendors sought to get in before the Easter break.
Auctions returned a 77.6 percent national tally, according to CoreLogic’s latest report with 3,424 homes put to auction.
In Melbourne, the number of homes taken to auction rose to 1,458, up from last week’s 1,143, with the clearance rate hitting 81 per cent, up from 79.6 per cent over the previous weekend.
Across Sydney the preliminary clearance rate was up at 81.5 per cent after Sydney's biggest ever auction day saw 1140 homes go under the hammer.
CoreLogic’s auction analyst Kevin Brogan said described it as "a robust performance."
<div class="wp-caption">The dearest reported sale was at Drummoyne where a four-bedroom art deco home on Sydney Harbour sold for $7.2 million. </div>
<div class="wp-caption"> </div>
<div class="wp-caption">The auctioneer Damien Cooley had called the property onto the market at $6.8 million.</div>
<div> </div>
<div id="sticky_holder_news">“There’s a shortage of waterfronts in Drummoyne,” Cobden and Hayson agent Frank Colacicco told The Sunday Telegraph.</div>
<div> </div>
<div>Melbourne's highest result was when a <a href="https://www.realestate.com.au/property-house-vic-middle+park-124983402" target="_blank">Middle Park duplex fetched $6,985,000</a> (below), according to the REIV.</div>
<div> </div>
<div><img src="https://www.urban.com.au/images/2017/04/10/Screen%20Shot%202017-04-10%20at%209.17.39%20AM.png" alt=""></div>
<div> </div>
<div>There were 17 rooms in Veronique, the Page Street offering, which sold through Cayzer Real Estate.  </div>
<div> </div>
<div>An 1880s Brighton house, Marama was passed in on a <a href="https://www.realestate.com.au/property-house-vic-brighton-125013006" target="_blank">vendor bid of $5.8 million</a> in front of a big crowd (below). The Age advised the iconic Victorian mansion did not receive a single bid, although the vendors had lowered their reserve to $6.4 million from initial $7 million hopes. </div>
<div> </div>
<div><img src="https://www.urban.com.au/images/2017/04/10/Screen%20Shot%202017-04-10%20at%209.18.45%20AM.png" alt=""></div>
<div> </div>
Canberra’s preliminary auction clearance rate of 69.8 percent was higher than last week when the final auction clearance rate was 60.8 percent and higher than the 52 percent recorded last year.
A suburb record was secured in Florey where <a href="https://www.realestate.com.au/sold/property-house-act-florey-124977586" target="_blank">3 Edman Close</a> (below) sold under the hammer for $960,000 through Peter Blackshaw Gungahlin, topping the previous $840,000 record set in February.
<img src="https://www.urban.com.au/images/2017/04/10/Screen%20Shot%202017-04-10%20at%209.23.17%20AM.png" alt="">
It had five bedrooms, study and theatre room amid its 220 sqm internal living space.
CoreLogic advised there were 182 Brisbane properties taken to auction with a clearance rate of 54.6 percent.
Adelaide saw a preliminary clearance rate of 67.4 percent across a total of 170 scheduled auctions.
Perth’s clearance rate of 22.7 percent across 53 auctions was down from the previous week.
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South Melbourne ugly ducking sold

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The busiest week for auctions so far this year returns a preliminary clearance rate of 77.6 percent, according to CoreLogic’s latest report.
The property data firm says that auction activity ramped up across the combined capital cities this week in the lead up to Easter, with 3,424 homes taken to auction this week, recording the highest volume of auctions year-to-date.
<a href="https://www.propertyobserver.com.au/images/2017/04/09/Screen%20Shot%202017-04-09%20at%2010.55.55%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/09/Screen%20Shot%202017-04-09%20at%2010.55.55%20am.jpg" alt="">
The preliminary clearance rate remains strong despite the increase in volumes over the week, with 77.6 percent of auctions reporting as successful.
This week’s results are higher than both last week’s 75.9 percent across 2,657 auctions and the same time last year when 67.1 percent of the 1,831 auctions were cleared.
<a href="https://www.propertyobserver.com.au/images/2017/04/09/Screen%20Shot%202017-04-09%20at%2010.56.01%20am.jpg" target="_blank">Click to enlarge</a>
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However, if we compare to the pre-Easter weekend in March last year, volume’s reached their highest level for 2016, with 3,540 auctions held.
In Melbourne this week, the number of homes taken to auction rose to 1,458, from last week’s 1,143, with the clearance rate for the city also increasing over the week (81.0 percent), up from 79.6 percent over the previous week.
This is significantly higher than the corresponding week last year when 803 auctions were reported with a clearance rate of 73.2 percent.
<a href="https://www.propertyobserver.com.au/images/2017/04/09/Screen%20Shot%202017-04-09%20at%2010.57.20%20am.jpg" target="_blank">Click to enlarge</a>
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Across Melbourne’s sub-regions, the Mornington Peninsula region recorded the highest clearance rate of all the regions, with 87.0 percent of the 66 auctions successful, followed by the North West region, where an 86.1 percent clearance rate was recorded across 107 auctions.
Across Sydney, there were a higher volume of auctions this week, with 1,392 held, up from 1,104 over the previous week.
The preliminary clearance rate for the city saw an increase over week, up to 81.5 percent from 78.0 percent last week.
<a href="https://www.propertyobserver.com.au/images/2017/04/09/Screen%20Shot%202017-04-09%20at%2010.57.27%20am.jpg" target="_blank">Click to enlarge</a>
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When compared to the same time last year, both the clearance rate and number of auctions held were significantly lower, when 67.1 percent of the 678 auctions were successful.
The Outer West and Blue Mountains region recorded the strongest clearance rate of all the Sydney sub-regions, with an 90.0 percent rate of clearance across 13 auctions, while the North Sydney and Hornsby region recorded the highest volume of auctions (221).
There were 182 Brisbane properties taken to auction this week, with a preliminary clearance rate of 54.6 percent.
This is up from 52.4 percent last week and also higher than the same period last year, when 47.7 percent of the 160 properties taken to auction were successful.
<a href="https://www.propertyobserver.com.au/images/2017/04/09/Screen%20Shot%202017-04-09%20at%2010.57.35%20am.jpg" target="_blank">Click to enlarge</a>
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Across the Gold Coast 29 results have been reported so far, with a clearance rate of 37.9 percent.
This week, Adelaide saw a preliminary clearance rate of 67.4 percent across a total of 170 scheduled auctions.
<a href="https://www.propertyobserver.com.au/images/2017/04/09/Screen%20Shot%202017-04-09%20at%2010.57.42%20am.jpg" target="_blank">Click to enlarge</a>
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This is lower than the previous week, when Adelaide’s clearance rate was 76.3 percent and higher than the 63.6 percent recorded one year ago.
Perth’s clearance rate of 22.7 percent across 53 auctions is down from the previous week, when 43 auctions were held and a clearance rate of 38.7 percent was recorded.
Over the same week last year, the clearance rate was also higher, when 33.3 percent of the 36 auctions were successful.
Canberra’s preliminary auction clearance rate of 69.8 percent this week is higher than last week, when the final auction clearance rate was 60.8 percent and higher than the 52.2 percent recorded last year.
In Tasmania this week, there were a total of 21 auctions held, with 15 results so far.
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Preliminary auction clearance rate at 77 percent in lead up to Easter: CoreLogic

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Sydney's biggest ever auction day saw 1140 homes go under the hammer and with 677 of the results in by Saturday evening, CoreLogic put the clearance rate as nudging 80 percent.
At 79.47 percent - and "all of that extra supply", CoreLogic’s auction analyst Kevin Brogan described it as "a robust performance,”.
The dearest at Drummoyne, saw a four-bedroom art deco home on the waterfront sold for $7.2 million. 
The auctioneer Damien Cooley called the property onto the market at $6.8 million.
“There’s a shortage of waterfronts in Drummoyne,” Cobden and Hayson agent Frank Colacicco told The Sunday Telegraph.
A freestanding ocean-view Federation house in Sydney's Bronte has been sold for $5.33 million, making it Sydney’s second most expensive auction weekend sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-bronte-124949282">12 Cross Street</a>, it overlooks Tamarama and is centrally located to both Bronte and Tamarama beaches.
It has a double frontage of 450 sqm with an elegant entry hall and ornate ceilings
It features a huge living room with original floorboards along with spacious dining and casual living.
Double doors leads to the raw timber deck along with retractable awning and landscaped gardens.
Kitchen features Caesarstone along withg Bosch dishwasher and Ilve gas cooker.
Upstairs is the retreat featuring an ensuite.
There is also an Italian glass mosaic-tiled family bathroom.
Huge scope to extend upper level and there are also off-street parking for two cars.
The property was offered through Phillips Pantzer Donnelley agents Alexander Phillips and Gavin Lewis.
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