Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

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

<html><body>
Prices will remain steady for at least the first half of 2017 in western Gold Coast areas primarily due to low interest rates and limited stock levels, according to HTW’s February 2017 update.
The valuation firm says agents continue to report low levels of available stock and vendors being unsure when to list their property as they try to pick the top of the market.
Due to strong demand, the $450,000 to $650,000 dwelling market in Carrara, Nerang, Oxenford, Pacific Pines and Maudsland will be worth watching to see if prices increase albeit mildly, HTW says.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-pacific+pines-124492830" target="_blank">16 Austral Crescent</a>, Pacific Pines (above) was recently sold for $552,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-oxenford-123417786" target="_blank">21 Silver Dawn Crescent</a>, Oxenford (below) was recently sold for $490,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/20/21%20Silver%20Dawn%20Crescent.jpg" alt="">
Equally the $300,000 to $450,000 townhouse, villa and duplex market in Oxenford, Pacific Pines and Maudsland is expected to remain strong.
“Carrara and Nerang are generating interest due to infrastructure being constructed for the Commonwealth Games,” the report says.
“The suburbs of Oxenford, Pacific Pines and Maudsland continue to benefit from additional and improved roads and commercial development adding greater convenience and amenity for residents.”
However other areas of the region continue to struggle. The rural residential markets in and around Tamborine and Beaudesert continue to experience steady rates of sale although prices have not increased greatly.
“Lifestyle and additional employment opportunities in and around these areas continue to underpin demand,” HTW says.
“Older pockets of Nerang and Highland Park remain comparatively affordable due to perceived social stigma and proximity to train lines and the M1 motorway.
“As always the higher price point dwelling and rural residential properties over $850,000 that saw sharp rises over the previous one to two years ought to tracked to ensure that value levels are sustained. Land values should also be tracked.”
The firm says that stock levels will be the main issue for 2017 in the region.
“It is expected however that values and confidence will remain steady provided no significant fluctuations in interest rates or unemployment occur.
“Growth as witnessed in 2015 and 2016 is not expected.”
</body></html>

jonathanchancellor-7SQnKwU6yx

West Gold Coast prices to flatline in 2017: HTW

<html><body>
Local Adelaide agents are reporting continued low levels of stock in city fringe, locations within 10 kilometres of the city and in beachside locations, according to HTW’s February 2017 update.
The valuation firm says demand for quality housing in these areas seems set to continue if lower supply levels prevail.
There is also continuing activity from developers within suburbs that have undergone zoning changes in recent times such as the Campbelltown and Prospect areas.
“The outlook for 2017 will largely hinge on any potential interest rate increases and in the northern suburbs, the upcoming closure of the Holden manufacturing plant,” HTW says.
“Recent media reports have discussed the increasing levels of consumer debt and the high levels of investor activity versus diminishing activity in the first home buyer market segment.
“Future interest rate decisions will further influence these levels of activity.”
The firm also cautions buyers that there is quite a high level of stock available of housing that is less than five years old.
“Quite often a premium is being paid for a new product, when a similar dwelling is available in the same suburb, albeit slightly older.
“There is increasing construction of apartments in the Adelaide CBD and given the relatively stagnant values in this market segment, this type of property should be treated with caution.”
According to HTW, Adelaide is the most affordable mainland capital city on a median house price basis.
It points to ongoing infrastructure projects such as the Torrens to Torrens road upgrade, O-Bahn tunnel works and Darlington upgrades as employment opportunities for the state and improved facilities for the public.
“We would expect some increased activity in the market leading into February,” the report says.
A two bedroom house at <a href="https://www.realestate.com.au/property-house-sa-adelaide-124597538" target="_blank">265 Angas Street</a>, Adelaide (above) has been listed for between $560,000 to $580,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-sa-adelaide-124527802" target="_blank">907/39 Grenfell Street</a>, Adelaide (below) has been listed for between $425,000 to $440,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/21/907_39%20Grenfell%20Street.jpg" alt="">
</body></html>

Adelaide property market hinges on interest rate decisions: HTW

<html><body>
A warehouse/office in Adelaide’s northern industrial market has recently changed hands for $2 million.
Located on an expansive 8,380 sqm site, the 22-24 Plymouth Road property comprises a 393 sqm office and 2,058 sqm factory warehouse.
Leizak Investments trading as Atalanta Refrigeration has secured a 2,950 sqm warehouse/office facility in Wingfield to accommodate its expanding operations.
The property includes drive-through roller door access and dual street frontage.
CBRE’s Andrew Nagy, who negotiated the transaction in conjunction with fellow agents David Reid and Jon Nitschke, said the sale reflected local business growth.
“The purchaser was keen to secure property that would support their growing operations in the Adelaide’s metropolitan areas,” Nagy said.
</body></html>

Warehouse in Adelaide's Plymouth Road fetches $2 million at sale

<html><body>
Sydney’s inner east is expected to see robust demand for commercial assets in 2017 after almost $370 million worth of sales last year, says a report from Ray White Commercial.
There were more than 150 commercial sales in the inner east in 2016 with Surry Hills accounting for 45 per cent of the deals, according to Samuel Hadgelias of Ray White Commercial NSW.
“The inner east market (which includes Surry Hills, Redfern, Darlinghurst and Woolloomooloo) offers a wide array of investments at varying price points,” Hadgelias said in Between the Lines – Inner East Sydney Commercial Report February 2017.
Being close to the Sydney CBD, demand is strong from both smaller investors interested in retail or office suite holdings together with larger investors and developers looking for office buildings, larger retail holdings and possible development sites, the report said.
This demand is unlikely to subside into 2017 given the low interest rate environment and appetite for quality, well located assets which will result in further expansion of the capital value range achieved and continued lows in investment yields.
With access and cost of financing still reasonably low coupled with increased demand for stable investments for private investors.
Retail assets have generated yields as low as 4 per cent across the inner east while office assets can range anywhere between 5.5 per cent and 7 per cent, he said.
Hadgelias said capital values across the markets vary considerably depending on the type, quality, location, size and lease covenant of the asset.
He said average values achieved in Redfern are at $11,059 per sqm, slightly below the Darlinghurst rate of $11,593 per sqm, while Surry Hills has an average of $13,592 per sqm and Woolloomooloo $13,988 per sqm.
“Looking at office assets alone, this average is closer to $16,000 per sqm keeping in mind potential redevelopment opportunities.”
Meanwhile, retail averages $11,430 per sqm and there is a wide variation in this asset class depending on access.
“In addition to potential redevelopment, the strength of the office market in the city fringe can further be explained by the tight Sydney CBD vacancy environment, currently just 6.20 per cent (January 2017).”
</body></html>

j.ballantyne1990-6AQqhLzZaK

Demand for Inner Sydney commercial assets on the rise: Ray White

<html><body>
Berri Bunnings Warehouse in South Australia’s Riverland region is on the market, representing the first sale of a Bunnings-occupied asset for 2017.
Located at the corner of Hoskins Road and Sturt Highway, the new hardware store opened in May 2016 and is the first stage of a master plan for The Riverland Complex Site on the Old Sturt Highway in Berri.
CBRE’s Joseph Du Rieu, Justin Dowers, Alistair Laycock and Jordan Kies, are selling the property on behalf of Adelaide-based developer Pat &amp; Co Pty Ltd – headed by Tony Moro.
He added that Bunnings committing to being the property’s anchor tenant was a vote of confidence for the precinct.
“With one of the country’s most recognised retailers taking a long term lease on the first stage of the development, we can take great confidence that other retailers and business owners will be drawn to the development of Riverland Complex Bulky Goods precinct stage two and three over the coming years,” Moro said.
The 6,557 sqm store was developed in a similar design as the Victorian Swan Hill Bunnings, - which sold in late 2015 for a yield of 5.11 percent - and constructed with a long-term view to accommodate the growing population of the Riverland region.
CBRE’s Justin Dowers said the property marked the first Bunnings warehouse investment offered for sale in Australia for 2017.
“Bunnings warehouse investment properties have been a highly sought after investment vehicle over the past two or so years – a factor that is helping compress yields to as low as 5 percent in some instances,” Dowers said.
He said the lack of retail investment opportunities such as this is also driving investors to compete for assets in regional locations. Furthermore, “the consistent performance and revenue growth of Bunnings has been a key attraction for private and institutional investors,” he added.
In late 2016, the Yarrawonga Bunnings in Victoria was sold off the plan for a record yield of 4.94% – representing the first Bunnings warehouse to be sold to a mainland Chinese investor.
 
</body></html>

First Bunnings sale of 2017 in SA to test investment appetite

<html><body>
The office market in 2016 witnessed more divergence between the southeast markets and the resource-based states with the trend likely to continue in 2017, according to commercial real estate firm CBRE’s latest report.
Strong economic growth in New South Wales and Victoria led to increased demand in the office sector.
Queensland and Western Australia continued to lag, although Brisbane has stabilised and will be on the road to gradual recovery in 2017, while Perth is expected to bottom.
Office markets in Sydney and Melbourne performed well in 2016. Sydney CBD, in particular, outperformed with its strongest level of net effective rental growth in over 20 years.
Net effective rents (NER) grew 25 percent in the prime grade sector.
The Sydney CBD secondary grade office market set new records in 2016: vacancy fell to record lows, NERs grew 32 percent and indicative secondary rents topped $600/sqm for the first time ever.
Stock withdrawals affected the secondary market more significantly, helping deliver these results.
The prospect of limited supply over the next three years, strengthened by high withdrawal activity, in conjunction with steady growth in the services sector will continue to keep vacancy constrained.
The Melbourne CBD office market set new records in 2016 in terms of investment metrics.
Prime and secondary yields reached new lows at 5.5 percent and 6.2 percent respectively, and the spread between the two grades narrowed to a record level.
Further, albeit minor, compression is expected in H117 before yields bottom.
VIC’s strong economic growth drove white collar employment (WCE) and thus demand for office space.
Melbourne CBD achieved the highest level of positive net absorption of all states over 2016 with 117,253 sqm.
Most of this strength was captured in the last half of 2016 and resulted in vacancy declining to 6.4 percent at year end.
This helped the Melbourne CBD market achieve NER growth after four years of declines due to rising incentives.
A combination of above-average face rental growth and slight easing of incentives saw prime and secondary NERs grow 7.2 percent and 6.3 percent respectively in 2016.
"With limited supply in 2017 and demand expected to remain healthy, we forecast further NER growth in 2017 (Figure 2),” the report said.
<a href="https://www.propertyobserver.com.au/images/2017/02/16/Figure%202.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/2017/02/16/Figure%202.jpg" alt="">
The QLD economy has overcome the drag of the LNG CAPEX unwind and returned to growth in 2016.
“We expect further gradual improvements in 2017,” the report stated.
The advancement towards a possible 2017 construction start for the $21.7 billion Carmichael mine project by Adani has provided some confidence to the medium-term outlook, although the project represents only a fraction of activity sparked by the three recent LNG projects.
Brisbane CBD vacancy peaked in 2016 but then tightened to 15.3 percent by year-end due to its strongest annual absorption ever recorded (94,601sqm).
The latest supply cycle has completed and 2017-18 is expected to see low levels of supply in the CBD and Near City markets.
“We forecast a gradual fall in vacancy despite the strong absorption outcome in 2016, partly due to at least two further major tenant relocations to the Near City market,” the report said.
The Perth CBD office market appears to be approaching the bottom of the cycle: vacancy has probably peaked at 22.5 percent, leasing activity has picked up, and the rate of rental decline slowed substantially over 2016, with Q416 net face and effective rents remaining static.
The market is starting to benefit from tenant migration from fringe and suburban locations as businesses take advantage of lower rents and higher incentives by upgrading accommodation in a flight-to-quality.
This has led to an increase in the number of CBD leasing transactions.
The SA economy in 2016 was bolstered by public investment and also surprising growth in private consumption and retail trade.
These impacts will pass in 2017 and economic growth will moderate. The Adelaide office market remains steady with vacancy hovering at around 16%.
“Net absorption was weak in 2016 and we don’t expect much improvement in 2017,” concluded the report.
Limited supply (in the form of refurbishments) will help the vacancy rate tick slightly lower.
The ACT recorded the highest growth in State Final Demand of all the state and territories in the year to Q316, which supported Canberra CBD white collar employment growth of 3.4 percent over the same period, more than any other CBD market in Australia.
Limited new supply has resulted in vacancy trending downward since 2015 – a trend expected to continue over the medium term, posing a favourable outlook for the Canberra market.
Although softer tenant demand is expected in major office markets in 2017, the outlook for Australia’s office sector is favourably impacted by the lowest level of net supply additions in 20 years.
National CBD vacancy will begin to trend down and we forecast it to reach 9.8 percent by year-end 2017.
CBRE Research’s near-term view of office market return expectations (annualised 3-year NER growth plus yield as at December 2016) for each market is illustrated in Figure 3.
<a href="https://www.propertyobserver.com.au/images/2017/02/16/Figure%203.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/2017/02/16/Figure%203.jpg" alt="">
“This return calculation assumes static yields so paints a clear picture of our NER growth expectations.  "We forecast that the best performing markets in Australia will be: Melbourne CBD, Macquarie Park, Parramatta, Canberra CBD and Sydney CBD,” the report concluded.
</body></html>

New South Wales and Victoria economic growth leads to increased office demand: CBRE

<html><body>
The large format retail property sector will likely not be able to sustain the strong growth trend of 2016 as weakening consumer demand for household goods is likely to hurt the sector in the near term, according to new research.
Last year saw a fall in vacancy rates at retail centres, while rental growth was the strongest since before the GFC, investment yields firmed on the back of record investment transactions, and double-digit total returns were recorded. But these buoyant conditions will not be sustained, says research firm BIS Shrapnel’s latest Large Format Retail Property report.
Report author Maria Lee, senior project manager at BIS Shrapnel, notes that the key drivers of consumer demand for household goods—which accounts for the majority of floorspace in large format centres—are either already weak or have started to weaken. Sluggish economic growth and subdued consumer sentiment are likely to continue for some time. 
Meanwhile, housing commencements and alterations and additions activity have peaked, while turnover of existing dwellings fell sharply in 2016. 
“We’re already seeing the effects in turnover data, which has slowed sharply in recent months” says Lee, qualifying that “the larger retailers and chains are holding up better, but they aren’t immune.” 
Chart below shows the slowdown in demand.
<a href="https://www.propertyobserver.com.au/images/2017/02/20/BISShrapnel-chart.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/20/BISShrapnel-chart.png" alt="">
Meanwhile, the closure of Masters and planned reconfiguration of most of its stores into large format centres with an internal mall will cause a spike in ‘new’ supply of centres. 
“There’s still a lot of uncertainty at this stage regarding the fate of the ex- Masters stores. However, if we take at face value Home Consortium’s plans, and allow for Bunnings to take some of the vacant stores, there could be up to 700,000 square metres of ‘new’ centre floorspace as well as new development on sites owned by Masters,” said Lee.
BIS Shrapnel says this represents several years’ demand even allowing for the ‘transfer’ of turnover from Masters to replacement retailers. The report cautions that, at a time of softening demand, the sector could have trouble absorbing the floorspace and forecasts rental growth to weaken. 
On a more positive note, the report predicts stronger consumer spending growth in the longer term and a continued expansion of the retailer pool that large format centres tap into. 
“The sector continues to evolve. Large format centres offer relatively cheap space that is attractive to a range of uses. Some centres are morphing into mixed-use, lifestyle or even convenience centres” says Lee. 
Overall, BIS Shrapnel forecasts internal rates of return of around 10 percent over a five or 10 year investment horizon. This compares well with other shopping centre types and property classes. 
</body></html>

prateek24-ezbwHMbNAk

Large format retail property to take a breather after strong growth in 2016: BIS Shrapnel

<html><body>
Mirvac’s flagship West Australian office tower, Allendale Square, has secured a range of retail tenants as it launches a new name for the precinct, Underground at Allendale Square.
The new tenants include 18 food, beverage and service businesses including Perth’s iconic Mary Street Bakery, Mo Espresso, Three Grains and Timeless Beauty.
Old favourites Lalla Rookh Bar and Eating House, Bellini Barber, Lunches Down Under and Zensaki are also available in the 1,600 sqm precinct.
The new name ‘Underground at Allendale Square’ was chosen to reflect the vision for the precinct, which is currently undergoing refurbishment, to create a vibrant retail hub for people to gather and connect. The refurbishment is expected to be complete in May.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/01/Allendale_B40.jpg" alt="">
The precinct will feature improved access, seating and wifi. 
Mary Street Bakery is looking forward to opening their second city store at Allendale Square.
Co-owner of Mary Street Bakery, Michael Forde says, “The building’s great location and beautiful design caught our imagination. We already have a store at the western end of the city and thought there was a need for another store at the eastern end."
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/01/Allendale_D41.jpg" alt="">
The building will have a glass atrium and will open out onto the street.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/01/Allendale_F19.jpg" alt="">
Mirvac’s group executive of Office MPT, Andrew Butler said, “With the Allendale Square office tower now over 95 per cent leased, Underground is set to become a thriving modern hub for workers to meet, dine and relax."
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/01/I01_34.jpg" alt="">
Mo Espresso general manager, Zac Barrett said, “The range of retailers that are going into Allendale Square and the vibrant vision for the development is what got us on board."
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/01/I02_Arcade_02.jpg" alt="">
The office tower at Allendale Square is undergoing an extensive refurbishment that includes a re-modeled lobby, brand new end of trip facilities, upgraded lifts and the conversion of level 31 to office space.
The precinct will be brought to life with a public artwork by artist Anne Neil and an architecturally striking glass canopy framing the entrance to the office tower, designed by Christou Design Group.
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/01/I03_Arcade_02.jpg" alt="">
Allendale Square is close to shops, bus stops and the Esplanade train station.
The leasing agents for retail are Jim Tsagalis and James Hopkins from Lease Equity, while office leasing is being handled by Warren Wright of JLL and Mark Clapham of Sheffield Property.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/01/I04_Arcade_02.jpg" alt="">
</body></html>

New tenants for Perth's Allendale Square retail precinct

<html><body>
Sydney leads top global cities in office yields, which continue to firm as investors seek safe havens for their funds amidst economic and political uncertainties which look to prevail for some time, according to real estate firm Savills.
The latest World Office Yield Spectrum report by Savills and Australia’s Deakin University found yields across 11 gateway cities had firmed by an average 95 basis points since December 2014, with San Francisco witnessing a dramatic 32 per cent fall from nearly 7 percent to 4.64 percent.
Of the gateway cities, Sydney led the pack offering by far the most attractive yields at 5.37 percent, with LA West and San Francisco the only others offering above 4.50 percent.
Shanghai and LA West recorded falls of just 0.29 and 0.31 percent respectively.
The data from 54 cities across Asia, Europe, the US and Australia, put Hanoi on top with a prime yield of 8.75 percent followed by Ho Chi Minh City at 8.5 percent.
Taipei brought up the rear with the tightest yield of just under 2 percent, while Hong Kong was at 2.5 percent.
Report editor Tony Crabb, Savills national head of Research in Australia, said overall office markets looked set for another year of strong investment.
It will be driven by office property’s most preferred investment status along with economic and political factors which had pushed investors towards the safety of bricks and mortar.
"This is an interesting time in the investment cycle where markets have responded to the inflation/growth trade by pushing bond yields and growth stocks, whilst also recognising office markets should perform well as demand grows’’ Crabb said.
He said with some level of economic and political uncertainty remaining in most markets it was fair to say that office risk premiums would continue to offer very good value and hence drive demand and, in some instances, even firmer office investment yields.
"Much of what happens in 2017 and beyond will depend on the course the US Federal Reserve takes with regards to interest rates and the new President’s policy settings.
Those factors, along with Brexit negotiations and elections in key European countries, will largely determine how currencies behave, how trade flows and how capital moves around the world,’’ Crabb said.
He said if anything would limit office property investment it was the shortage of stock in most gateway markets which had experienced, in some instances, record investment levels in recent years.
"That shortage of stock is being exacerbated by the strength of leasing markets, especially in gateway cities, which is driving tighter vacancy and rental growth, and landlords are happily holding on for the ride,’’ Crabb said.
 World Office Yields: Gateway Cities – 2014 - 2016
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td style="text-align: center;" valign="top" width="129">
 
</td>
<td style="text-align: center;" valign="top" width="129">
December 2016 %
</td>
<td style="text-align: center;" valign="top" width="129">
December 2014 %
</td>
<td style="text-align: center;" valign="top" width="129">
Change %
</td>
</tr>
<tr>
<td style="text-align: center;" valign="top" width="129">
Sydney
</td>
<td style="text-align: center;" valign="top" width="129">
5.37
</td>
<td style="text-align: center;" valign="top" width="129">
6.62
</td>
<td style="text-align: center;" valign="top" width="129">
- 1.25
</td>
</tr>
<tr>
<td style="text-align: center;" valign="top" width="129">
LA West
</td>
<td style="text-align: center;" valign="top" width="129">
5.03
</td>
<td style="text-align: center;" valign="top" width="129">
5.34
</td>
<td style="text-align: center;" valign="top" width="129">
- 0.31
</td>
</tr>
<tr>
<td style="text-align: center;" valign="top" width="129">
San Francisco
</td>
<td style="text-align: center;" valign="top" width="129">
4.64
</td>
<td style="text-align: center;" valign="top" width="129">
6.97
</td>
<td style="text-align: center;" valign="top" width="129">
- 2.33
</td>
</tr>
<tr>
<td style="text-align: center;" valign="top" width="129">
Shanghai
</td>
<td style="text-align: center;" valign="top" width="129">
4.42
</td>
<td style="text-align: center;" valign="top" width="129">
4.71
</td>
<td style="text-align: center;" valign="top" width="129">
- 0.29
</td>
</tr>
<tr>
<td style="text-align: center;" valign="top" width="129">
New York
</td>
<td style="text-align: center;" valign="top" width="129">
4.09
</td>
<td style="text-align: center;" valign="top" width="129">
5.04
</td>
<td style="text-align: center;" valign="top" width="129">
- 0.95
</td>
</tr>
<tr>
<td style="text-align: center;" valign="top" width="129">
Singapore
</td>
<td style="text-align: center;" valign="top" width="129">
3.97
</td>
<td style="text-align: center;" valign="top" width="129">
5.29
</td>
<td style="text-align: center;" valign="top" width="129">
- 1.32
</td>
</tr>
<tr>
<td style="text-align: center;" valign="top" width="129">
London
</td>
<td style="text-align: center;" valign="top" width="129">
3.88
</td>
<td style="text-align: center;" valign="top" width="129">
4.38
</td>
<td style="text-align: center;" valign="top" width="129">
- 0.50
</td>
</tr>
<tr>
<td style="text-align: center;" valign="top" width="129">
Munich
</td>
<td style="text-align: center;" valign="top" width="129">
3.40
</td>
<td style="text-align: center;" valign="top" width="129">
4.25
</td>
<td style="text-align: center;" valign="top" width="129">
- 0.85
</td>
</tr>
<tr>
<td style="text-align: center;" valign="top" width="129">
Tokyo
</td>
<td style="text-align: center;" valign="top" width="129">
3.20
</td>
<td style="text-align: center;" valign="top" width="129">
3.95
</td>
<td style="text-align: center;" valign="top" width="129">
- 0.75
</td>
</tr>
<tr>
<td style="text-align: center;" valign="top" width="129">
Paris
</td>
<td style="text-align: center;" valign="top" width="129">
3.18
</td>
<td style="text-align: center;" valign="top" width="129">
4.52
</td>
<td style="text-align: center;" valign="top" width="129">
- 1.34
</td>
</tr>
<tr>
<td style="text-align: center;" valign="top" width="129">
Hong Kong
</td>
<td style="text-align: center;" valign="top" width="129">
2.53
</td>
<td style="text-align: center;" valign="top" width="129">
3.11
</td>
<td style="text-align: center;" valign="top" width="129">
- 0.58
</td>
</tr>
</tbody></table>
Source: Savills Research
Australia/New Zealand
The $27 billion worth of commercial property transactions recorded in Australia in 2016 remained above the five-year average for the fourth year running, Crabb said.
Meanwhile, the market was on track to record a fifth consecutive year of growth, a lack of portfolios and a diminishing supply of prime properties would limit investment volumes.
Foreign investors were the most active in 2016, purchasing 40 percent of stock reported sold - approximately $10.7 billion - while professional investors.
It is represented by trusts, funds and syndicates, spent $8.75 billion.
Crabb said while both buyer groups remained keenly interested in ongoing investment, yields would continue to firm.
"In some markets, particularly Sydney and Melbourne, market fundamentals are improving rapidly. "We believe this improvement will lead to further tightening in yields as investment capital starts to price in expectations of future NOI growth. This part of the yield cycle is just beginning,’’ he said.
<a href="https://www.propertyobserver.com.au/images/2017/02/14/Savills-1.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/2017/02/14/Savills-1.jpg" alt="">
Asia
In Hong Kong, Savills’ senior director, Research and Consultancy, Simon Smith, said yields across Asian investment markets had firmed but there was still some limited scope for further falls.
"The low interest rate environment, the ongoing search for yield and increasing allocations to real estate are all considered to be positives for the sector.
One of the most significant challenges for investors is a lack of prime office stock and volumes have fallen consistently compared with 2015.
This is a situation which is unlikely to reverse any time soon,’’ Smith said.
He said the lack of liquidity across most asset classes had arguably been masked by the above average number of portfolio deals recorded over the second half.
"Scarcity of assets has resulted in money accumulating on the side-lines causing fundraising to decline versus the previous year,’’ Smith said.
He said despite its inward focus Asian real estate capital had continued to explore overseas markets with the US attracting the lion’s share of deals.
Cross border activity had been dominated by China, South Korea, Singapore and Hong Kong in that order while South Korean activity registered the highest rate of increase.
UK/Europe
Savills director, Research Europe, Lydia Brissy, said Brexit had seen a decline in institutional investment activity but a sharp rise in demand from off-shore private investors.
Many investors, she said, had been attracted by the weakening of the pound which was seen as enough to compensate for a perceived increase in occupational risk.
"Overall, our predictions for 2017 and beyond are investment volumes are expected to trend downwards towards £50 billion per annum, with a swing away from opportunistic deals to income-security plays.
Yields are expected to rise in most sectors, though the stable debt market, low vacancy rates, and global investor demand is expected to put a lower ceiling on prime yields than was reached during the GFC.
Brexit definitely carries a risk of creating a sustained period of occupier uncertainty, but to some degree this should be balanced by lower levels of development activity.
However, until some clarity emerges as to how Britain will exit from the EU, the real impact on the UK market will be hard to quantify,’’ Brissy said.
She said the expectation was that investment volumes in Continental Europe in 2017 would be similar to 2016.
"Although interest rates are expected to rise to 1.16% in the Eurozone, the property market should remain high on investors’ radar.
In France, Germany and the Netherlands where elections will be held, we expect a wait and see attitude, however the prevailing story regarding core countries is the lack of prime product."
She said prime yields in non-core countries remained above the European average, offering more attractive returns and yield compression potential.
"This is especially so in countries like Spain and Italy where strong property fundamentals combined with the availability of portfolio opportunities are attracting foreign investors.’’
USA
In New York, director of US Real Estate Analytics at Savills-Studley, Keith DeCoster, said in comparison to the volatility in equity markets, real estate in the United States held up very well in 2016 with office property sales totalling $124 billion to November, roughly 4 percent below the $129.6 billion in the first 11 months of 2015.
"The 'most-favoured market' status of some gateways is slipping slightly with most buyers showing disdain for markets such as Manhattan and Washington DC, where demand is running short of growing supply," DeCoster said.
"On the other hand, they have remained active in Boston and Los Angeles, where the life science and entertainment/social media sectors continue to grow."
He said Boston’s market fundamentals were among the strongest in the country and appeared as though they had more to run than San Francisco.
It had seen a recent spike in sublet supply and drop off in leasing, while Los Angeles has seen its strongest leasing volume in a decade.
</body></html>

Sydney leads as global yields remains firm: Savills

<html><body>
A fully tenanted commercial building with development potential has been listed for sale in Gold Coast City's business hub, CBD Robina.
The two-storey building at 69 Laver Drive has 1,502 sqm of net lettable area over three tenancies, and is located on a 3,774 sqm parcel of land.
The listing agents are Knight Frank's Mark Witheriff and Colliers International's Darrell Irwin and it will be marketed through an offers to purchase campaign closing on March 22.
Witheriff said the property was a cash positive investment in a sought-after location.
"The building has a net passing income of $598,800 per annum, is located in the tightest office market in Gold Coast City and offers significant future potential,” he said.
Property Council of Australia figures released this month (February) revealed Robina/Varsity Lakes had the lowest office vacancy rate of Gold Coast City's five key office precincts at just 6.9 per cent, compared to the city's average of 12.2 per cent.
"It is an investment that really adds up for a savvy private investor or property fund," Witheriff said.
It has been placed on the market by Gold Coast City’s largest developer of office space, the Robina Group.
The fully-tenanted building includes a 1,095 sqm first floor commercial space tenanted by The French Beauty Academy, formerly Gold Coast Training Academy. The lower level fronts the Riverwalk waterway and is tenanted by MedRecruit and Keola Wellness.
The building offers a Weighted Average Lease Expiry (WALE) of 5.5 years.
</body></html>

Latest Expert Insights

The inflation result the property market was waiting for

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

The inflation result the property market was waiting for

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News