Melbourne developer <a href="https://www.apartments.com.au/developers/pdg-corporation">PDG</a> has unveiled its vision for the former Water Tank Site in Ivanhoe, which would see it transformed into a thriving residential neighbourhood, complete with a 2000 sqm public park.&nbsp;

Delivered in partnership with <a href="https://www.apartments.com.au/developers/development-victoria">Development Victoria</a>, the proposal would transform the prominent corner of Bell Street and Upper Heidelberg Road into a connected community comprising two residential buildings, generous public open space and shared amenities.&nbsp;

The vision includes 287 one, two and three-bedroom apartments, with a minimum of 10 per cent allocated to affordable housing, alongside a 2,000-square-metre publicly accessible park featuring a children's playground, activity lawn, indigenous planting, timber climbing logs, seating areas and a rock gathering circle.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>, the proposal draws on the site's industrial heritage, using a robust architectural language that references the former water tank through expressive structural elements and durable, self-finished materials.&nbsp;

Extensive landscaping has been woven throughout the development, creating a living landscape that strengthens connections to nature while responding sensitively to the surrounding neighbourhood. Two residential buildings ranging from three to 12 storeys are linked by a landscaped forecourt, creating a welcoming arrival experience and improving pedestrian connections through the site.&nbsp;

Residents would also enjoy more than 1,000 square metres of communal open space, including barbecue and dining facilities, vegetable gardens, landscaped seating pavilions and a dedicated coworking space.&nbsp;

PDG Founder and Managing Director Vince Giuliano said the vision reflected an opportunity to transform one of Ivanhoe's most recognisable sites into a place that balanced housing, community and landscape.&nbsp;

"This is an opportunity to reimagine an important site and create a neighbourhood that delivers lasting benefits for Ivanhoe," Giuliano said.&nbsp;

"We're creating much more than new homes. The vision brings together affordable housing, quality architecture, meaningful public open space and shared places that encourage people to connect, while respecting the site's history and its place within the local community."&nbsp;

Development Victoria’s Executive General Manager Precincts, Niall Cunningham, said the application is an important step for the government-owned site.&nbsp;

“This is about delivering more homes in a well-connected location, along with public open space that the Ivanhoe community will benefit from for years to come,” Cunningham said.&nbsp;

PDG was selected as development partner in late 2025 following a competitive tender process.&nbsp;

A planning submission for the project is currently being progressed through the Victorian Government's Development Facilitation Program, with positive early engagement from both Banyule Council and the Department of Transport and Planning.

Joel Robinson

PDG unveils plans to transform landmark Ivanhoe Water Tank Site

Shane Wilkinson's <a href="https://www.apartments.com.au/developers/pace-development-group">Pace Development Group</a> has lodged plans for a major residential precinct on the former Presentation College site in Windsor, with an eight-building masterplan ultimately rising to 10 storeys.

The proposal at <a href="https://www.apartments.com.au/new-apartments/167-dandenong-road-windsor-vic-3181">167–187 Dandenong Road</a> spans a substantial 19,027 sqm site and is being progressed across six stages, with the first residential stages comprising 170 homes across four buildings designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>.

Stage Two will deliver the bulk of the initial housing, with Building A comprising 81 apartments and Building B 49 apartments, both rising to six storeys.

Stage Three will deliver a further 40 homes. The heritage Nagel Building, identified as Building C, will be converted to 12 dwellings, while a new five-storey Building D will comprise 28 apartments at the Hornby Street and Dandenong Road corner.

The 170 homes across Stages Two and Three will include a mix of one, two and three-bedroom apartments, including townhouse-style dwellings.<img alt="First look: Pace plans landscaped housing precinct on former Windsor school site" data-entity-type="file" data-entity-uuid="83c56e3e-dfb9-4e12-b172-c3f18513ec32" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_9.png?VersionId=xRcRpSZsxX.UX_NDDGcRZktw7HVrzx7u" />

&nbsp;

The longer-term masterplan points to considerably greater density across the site.

Indicative plans show Building E accommodating around 80 dwellings across up to 10 storeys, while Building F is earmarked for around 120 dwellings and also up to 10 storeys. Building G is planned to range between four and 10 storeys, however its apartment yield is yet to be determined. That means the masterplan currently identifies at least 370 dwellings across Buildings A to F before any apartments within Building G are counted.

Across the 1.9-hectare site, that represents an indicative density of at least 194 dwellings per hectare, with the final figure to increase once the yield of Building G is established.

Pace is pursuing the project through the Victorian Government's Development Facilitation Program, with Urbis lodging a combined Section 96A planning scheme amendment and planning application on behalf of the developer, which secured the site earlier this year.

The application seeks detailed approval for Stages One, Two and Three, alongside approval of the broader masterplan framework that will guide the later residential stages. Stage One will see an existing heritage building adaptively reused for a wellness and fitness-related facility, while the broader precinct will retain several significant heritage buildings and established trees as part of the redevelopment.

A minimum 10 per cent affordable housing contribution is proposed across both the initial residential stages and the later masterplan stages, delivered through a discounted rental model.

The project comes immediately after a major change to the site's planning controls.

The site was rezoned to the Housing Choice and Transport Zone through Planning Scheme Amendment GC285, gazetted on July 22, 2026, and now sits within the inner catchment of the Windsor Station precinct under the State Government's Train and Tram Zone Activity Centres Program.

While the new controls identify large sites within the inner catchment for buildings of up to six storeys, Pace's masterplan pushes height to 10 storeys in parts of the site, with the taller buildings concentrated toward the centre and along the Sandringham railway corridor.

Lower-scale built form is proposed toward the site's more sensitive residential and heritage edges, with Buildings A and B generally stepping from three storeys at their interfaces to six storeys at upper levels.

Cera Stribley's masterplan breaks the development into a collection of separate buildings rather than a continuous built form, with landscaped spaces, new pedestrian links and a new publicly accessible road forming part of the precinct.

The planning report says the development will create new pedestrian connections to Elm Place and along the railway corridor, as well as a new publicly accessible road linking Elm Place with Dandenong Road. The proposed buildings will occupy around 54 per cent of the site, leaving a substantial portion available for landscaping, communal areas and permeable surfaces.

Urbis said the scale of the project reflected the site's strategic location close to Windsor Station, tram services and the Chapel Street Activity Centre, with the former school campus identified as a significant opportunity to increase housing supply on an underutilised inner-Melbourne site.

&nbsp;

First look: Pace plans landscaped housing precinct on former Windsor school site

<a href="https://www.apartments.com.au/developers/jl-place">JL PLACE</a>'s Veil Brighton is approaching its final months of construction, with the nine-townhouse development at 17 Rooding Street expected to complete in December 2026.

The milestone is bringing the boutique project closer to becoming a finished part of the <a href="https://www.apartments.com.au/developments/brighton-vic-3186">Brighton</a> streetscape, with much of Brighton's everyday amenity within a short walk.

Palace Cinema, Coles Supermarket and North Brighton Station are all around five minutes on foot from <a href="https://www.apartments.com.au/new-townhouses/veil-brighton-17-rooding-street-brighton-vic-3186">Veil</a>, alongside numerous cafés, restaurants and bars. The station provides a direct rail connection toward Melbourne's CBD, while Bay Street and the wider Brighton retail and dining network add to the range of services accessible without relying on a car for every trip.

"The location was fundamental to the project. Brighton is an established suburb where many buyers already have strong connections to the area and want to remain close to the people, places and amenities that form part of their everyday life," the developer said.

"Veil sits in a highly walkable part of Brighton, with a Walk Score of 90/100."

For buyers looking to right-size within Bayside, that level of walkability adds to the appeal of a more manageable way of living. Everyday shopping, dining, entertainment and public transport can be accessed without relying on the car for every trip, while residents remain connected to the places and routines that make Brighton familiar. It allows buyers to simplify day-to-day life without giving up the convenience, amenity and connections they already value.

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As completion approaches, the architecture, landscaping and material palette are progressively becoming visible on site, giving prospective purchasers a clearer view of the finished development beyond its plans and renders.

Veil comprises nine townhouses, predominantly three-bedroom homes with between 2.5 and 3.5 bathrooms, two car spaces and, depending on the residence, study areas and private outdoor space. Selected homes include a bedroom on the ground floor.

Veil occupies a middle ground between detached housing and apartment living, retaining private gardens, storage and secure parking within a more manageable residential format.

<a href="https://www.apartments.com.au/architects/schmidt-pang-architects">Schmidt &amp; Pang</a> designed the architecture around natural light, ventilation, privacy and practical use of space. From Rooding Street, the façade has been composed to read as a cohesive residential building rather than nine individual townhouses, with landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a> integrated throughout the site.

Inside, natural stone, oak flooring, integrated joinery and brushed nickel finishes establish a restrained material palette, while kitchens include Miele appliances and substantial storage such as pantries. Walk-in robes and dedicated study spaces have also been incorporated across the collection.

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The project team said the planning of the homes has been informed by how the spaces function for both daily routines and larger gatherings.

"Our new homes owners at Veil have enjoyed the attention to detail in creating efficient layouts that use every space well. Hosting Christmas lunch and large family gatherings is an ease when care is taken to consider how people really live and entertain."

Private landscaped gardens extend the living spaces outdoors, while secure basement parking and bicycle parking are provided below. The homes have also been designed to achieve a 7-star energy rating, supported by double glazing, high-quality insulation, natural ventilation, LED lighting, water tanks and water-efficient fittings. Each residence is backed by a 10-year building guarantee.

Veil is being built by <a href="https://www.apartments.com.au/builders/jeniton">Jeniton</a>.&nbsp;Limited-time stamp duty savings are also currently available on selected purchases at Veil, adding another consideration as the project moves toward completion.

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Veil Brighton nears completion in one of the suburb's most walkable pockets

<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a> has recorded 134 sales worth just over $400 million in two months of pre-release activity at The Riversdale, as the developer brings its $750 million South Brisbane riverfront project to the broader market.

The sales represent more than 60 per cent of the project's 213 apartments, with Mosaic reporting the majority of purchasers have been local owner-occupiers and downsizers.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale</a> will rise 39 storeys from its north-facing site at 91 Montague Road, delivering a mix of two, three and four-bedroom apartments alongside a collection of Mosaic's premium Masterpiece Series Sky Homes.

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The early buyer response comes ahead of the wider evolution of the northern end of Montague Road, where The Riversdale will be one of the first major residential projects delivered within an emerging riverfront precinct.

Directly adjoining the development is a planned 7.1-hectare mixed-use precinct, set to introduce new residences, parkland and public realm along the river's edge. The Riversdale's position directly on the Brisbane River gives it a relationship with the waterfront that Mosaic says cannot be replicated by future buildings within the precinct.

The site is also the result of a years-long pursuit by Mosaic. The developer first earmarked the <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a> property in 2018, reflecting what Founder and Managing Director Brook Monahan has described as a deliberately patient approach to acquiring development sites.

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"We aren't opportunistic," Monahan previously told Apartments.com.au.

"Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau Proberts</a>, The Riversdale has been shaped around the qualities of the riverfront site, with apartments oriented to capture northern light and uninterrupted Brisbane River views.

Generous floorplans and expansive balconies extend the living spaces towards the river, while natural materials and a restrained interior palette have been selected with longevity in mind.

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Residents will have access to a level of amenity more commonly associated with world-class hotels and private members' clubs, with almost 3,000 sqm dedicated to wellness, connection, recreation and everyday convenience.

At ground level is a business lounge, private meeting rooms and dedicated workspaces. Mid-tower is a wellness sanctuary featuring magnesium hot and cold plunge pools, sauna, steam room, infrared therapy facilities, a Pilates and yoga studio, and a commercial-grade gymnasium.

Crowning The Riversdale is a rooftop featuring a 35-metre swimming pool with lap lane and spa, outdoor dining and seating terraces, firepit lounges and views of the city, river and Mount Coot-tha.

A private members' club-inspired retreat offers private dining rooms, a whisky lounge, media rooms and immersive entertainment experiences. Completing the amenity offering are two hotel-style guest suites and a resident-exclusive electric vehicle fleet and car-share program.

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The Riversdale sits at the northern end of Montague Road between South Bank and West End, around 1.3 kilometres from the Brisbane CBD, providing access to the city's major cultural, dining and recreation precincts.

It becomes Mosaic's largest Brisbane project to date and adds to a pipeline already under construction across the city.

In Brisbane, the developer is currently delivering The Bedford and The Carter at Kangaroo Point, both of which are approaching sell-out, with a further four projects being delivered on the Gold Coast. Mosaic has completed more than $2 billion in projects since 2012 and has a further development pipeline exceeding $2 billion across South East Queensland.

Early works are underway at The Riversdale, which will be delivered by Mosaic's in-house construction division. Completion is anticipated in late 2029, with remaining apartments priced from $1.98 million.

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Mosaic records more than $400m in two months at South Brisbane's The Riversdale

Lender, fund manager and apartment developer Princeton has completed <a href="https://www.apartments.com.au/buildings/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, the first new apartment development in South Sydney to provide its owners with a 10-year Latent Defects Insurance policy, the most comprehensive insurance available for a new apartment building.

The policy has been a key consideration for prospective purchasers of the 58 one-, two-, and three-bedroom apartments, strategically located between&nbsp;Rockdale Plaza and Rockdale Station.&nbsp;

Buyers have also been drawn to the fact that it is one of few new apartment developments delivered in the suburb in the last 10 years, and the only one located on Princes Highway to be set well back from the street to reduce noise. There's also a communal rooftop, a rarity in the suburb, complete barbecue facilities, landscaped seating areas, a children's play zone and herb gardens.

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Ray White Projects’ Matt Otway said buyer enquiry reflected the increasingly diverse and cosmopolitan population that has made Rockdale home.

“We’re seeing strong interest from a broad mix of buyers, including young professionals and people who have rented in Rockdale and the surrounding suburbs and now see Marque as an opportunity to buy a brand-new apartment in an area they already know,” Otway said.

“Proximity to the CBD and Sydney Airport is another key advantage particularly for buyers working in these locations who want the added convenience of living close by.”

Investors have also been attracted to the project, with rental yields of more than five per cent, which is considered a strong result for the Sydney market.

[smartcode_project:default project_id=136442 project_image_fid=374090]

Adding another layer to the buyer proposition is Marque's 10-year Latent Defects Insurance policy from Resilience Insurance, making it the only new apartment development in Rockdale to offer the cover.

The policy protects apartment owners against major structural and waterproofing defects for 10 years following completion, giving Marque purchasers cover until early 2036 at no additional cost.

The likelihood of defects emerging has also been mitigated through the Technical Inspection Service (TIS), which saw independent experts inspect the building at various stages throughout construction to identify potential issues during the build, rather than after the fact.

SDSS, which provided the TIS, consistently ranked the construction quality at Marque, undertaken by iCIRT-rated builder Coplex, among the best across its extensive portfolio of projects.

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Otway said the LDI had become a major drawcard for buyers, particularly given Rockdale has seen relatively little new apartment development over the past decade.

"Rockdale hasn't had a lot of new apartment buildings in the last decade, and has never had a project with 10-year defect insurance," Otway said.

"Marque presents a truly rare opportunity at an affordable price point, so well connected to the Sydney CBD."

One-bedroom apartments at Marque start from $735,000.

[smartcode_project_cta:default project_id=136442]

Marque Rockdale completes as South Sydney’s first apartments backed by 10-year defect insurance

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.

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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.

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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.

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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.

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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 most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

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Before making a decision to refinance, you need to thoroughly and comprehensively compare your current financial position with your position if you refinance.
Each application for a new credit product (be it a mortgage, personal loan or credit card) affects your credit rating, so you should reasonably expect you will take up the offer.
Make sure your existing mortgage is in a healthy state.
The more missed payments you have had in the last six months, the more wary lenders will be about refinancing your mortgage.
Compile a list of credit cards, persona loans and debts you have. These could all affect your capacity to borrow.
Even credit cards that have been paid off can reduce your loan amount, as the lender may consider the credit limit in its calculations.
Lenders dislike lending to people who have even small credit problems such as default on a credit card.
It is worthwhile obtaining a copy of your personal credit file to see if there are any issues that need to be resolved.
It will provide information about payment defaults or overdue accounts. You can obtain a free copy from Veda Advantage.
Ensure that all taxes and bills (utilities, mobile phones, etc.) have been paid.
If you are self-employed, tax returns and business accounts need to be up to date.
Lenders will have different documentation requirements but generally will require copies of your last two tax returns, evidence of any other income/allowances, statements of your existing bank accounts for the past six months and your accountant’s details.
Ascertain the value of your property and how much equity you have built up in it. If you find yourself owing more than the value of your property (negative equity) this will affect your capacity to refinance because lenders are reluctant to refinance a loan at 95% plus loan to value ratios (LVR).
In addition, your current lender might require you to inject capital into your loan to get the LVR ratio back to anacceptable level, which could force you to sell your home.
Once you have gathered all this information, a good place to start the process of refinancing is to sit down with a mortgage broker to discover if switching would be to your benefit in the medium to long term.
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Get your affairs in order to make the process as smooth as possible

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Chiropractor Luke Smith has taken up the last available retail space in Colonial First State's 367 Collins Street office tower in the Melbourne CBD, known as the Optus Centre.
Smith, part of the Queen Street Chiropractic practice, has leased a 119 square metre shop paying gross annual face rent of $336 per square metre ($40,000 per annum).
The space has been sub-leased from the Commonwealth Bank for three years commencing from June 15.
The lease was negotiated by Ben Tremellen, manager of retail leasing at Colliers International.
Tremellen notes that this is the last remaining retail tenancy within the lobby of the Optus Centre. 
"The building is well serviced by numerous public transport options including trams traversing Collins Street and Elizabeth Street and trains from Spencer Street and Flinders Street Railway Stations. 
"In addition to the substantial amounts of building pedestrian traffic, Collins Street itself benefits from enormous amounts of daily pedestrian traffic – approximately 10,000 people," he says.
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Chiropractor takes up last retail space at the Optus Centre on 367 Collins Street office

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After a tough five years, conditions in the Gold Coast retail property market appear to have stabilised during the first half of 2013, according to Herron Todd White.
There now appears to be a general perception that the market has bottomed.
The property valuation group says it is evident that there was further softening of the market in 2012, in line with a soft local economy and high unemployment, coupled with the adverse impact brought on by reduced tourist numbers and infrastructure upgrades.
‘’The mindset of many buyers in today’s market has shifted on the back of low interest rates and a more competitive finance environment.
‘’Most importantly, however, feedback from local marketing agents indicates that the interest from international investors is also increasing, which is further expanding the pool of potential buyers.
‘’Such parties are canvassing the market and appear to be taking preference towards sites within recognised retail precincts, such as Broadbeach, Surfers Paradise and Southport.’’
Herron Todd White says other beachside areas, such as Burleigh Heads and Coolangatta, are still looked upon favourably by local investors, however, the prospect of any ‘blue sky’ does not ‘’weigh heavily on the purchase decision’’.
Some notable retail transactions over the course of this year include:
• Market Square, Varsity Lakes – reportedly settled in recent weeks, achieving a sale price of around $6 million.
• Pinnacle Pines, Pacific Pines – This McDonald’s and 7-Eleven anchored convenience centre was placed under contract last year, but only emerged as a confirmed sale for $13 million in recent weeks.
• Bronberg Plaza, Southport - This 7-Eleven and IGA anchored convenience centre is reportedly in the final stages of negotiation and is set to be another example of the Gold Coast’s improving retail market.
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Gold Coast retail property stabilised over first half of 2013: Herron Todd White

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Recently, there was an article focusing upon how much the government could save in rent through more efficient use of the office space it occupies.
But let's perhaps look a little wider than that, because over the past decade many major companies have been adopting an activity-based workplace format.
By using this campus-style approach, staff are being provided with a laptop and a locker,  but are not allocated any specific desk.
In Melbourne, the trend has mainly been unfolding within the Docklands with companies like NAB, Telstra, ANZ, Suncorp and Fairfax having all relocated their main offices there. In fact, NAB is currently in the process of filling its second Docklands building — this time in Bourke Street.
So, why is the trend occurring?
<img src="/images/stories/2013/08/lang_aug_14_graph.jpg" width="470" height="266" alt="lang_aug_14_graph">
Source: Jones Land LaSalle, Deloitte Access Economics, The Age.
As you can see from the above graph, workspace ratios (ie: space occupied per employee) has been progressively falling over the past 20 years. But more recently, the trend has been driven by this activity-based approach to tenancy layouts.
Clearly, these larger companies will not need to occupy as much space, if they:
<ol>
<li>
No longer allow for individually-petitioned offices; and
</li>
<li>
Only provide seven desks for every 10 staff members.
</li>
</ol>
What does this mean for landlords? 
Effectively, you are now witnessing the concept of an open plan layout on steroids and obviously, that will translate into bottom-line savings in the annual rent bill.
When the GST was first introduced, there was an initial one-off surge in inflation and similarly, there will need to be a one-off adjustment in the space requirement in these recent new lettings for these larger companies.
As you can appreciate, there are significant upfront costs involved before tenants can achieve these resultant savings in rent. Therefore, according to Jones Lang LaSalle, the targeted "efficiencies" are realistically available only to tenancies of at least 3000 square metres.
As such, there are some existing CBD landlords who will need to cope with the initial impact of this workplace trend and in the process, creatively retro-fit the space being vacated — if their tenants do decide to relocate.
The bottom line is you need to keep in mind that just under half of all CBD tenancies are too small to derive any benefit from an activity-based layout.
Plus, there are a number of pundits who still doubt whether this new trend will deliver anywhere near the expected gains in staff productivity.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a href="https://property-edge.com.au/" rel="nofollow" target="_blank">Property Edge Australia</a> to help you get the most out of your commercial property investing.
This article originally appeared on <a href="https://his-best.biz/" target="_blank">Commercial Property Made Easy</a>.
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Activity-based workplace formats translates to bottom-line savings, but requires the space to implement

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A Clifton Hill owner-occupier has reaped the rewards of Clifton Hill’s growing popularity as a development opportunity, selling a sought after mixed-use site for more than $4million – well above expectations.
Colliers International’s Ted Dwyer and Hamish Burgess sold the 243-247 Queens Parade site prior to auction amid keen buyer interest.
Local developer TSW Developments, run by David Tarascio and Adam Wulff, snapped up the 1080 square metre site, with Wulff saying its appeal lies in its prime inner city location and adaptability.
“We are impressed with the mixed use element of the site, and the flexibility it provides to redevelop for a range of different uses, such as residential, commercial or retail,” Wulff says.
“Of significant appeal is the property’s fantastic amenity with train, tram, bus and retail just a stone’s throw away.”
TSW Developments has two residential projects on the go in Balwyn.
The Queens Parade property has a 190 square metre showroom, 485 square metre warehouse, and a car park.
“From day one, we had significant interest in this property,” Dwyer says. “It is in a sought-after location, with strong local amenity and public transport, and to top it off, any future development will have views across Studley Park.”
There is also potential for the site to benefit from the proposed East-West Link.
Burgess says the success of other recent developments in the area, such as Oxley Collingwood and Graphite in nearby Fitzroy North, also fuelled interest in the Clifton Hill property.
“Inner city infill sites close to transport are always sought after, and this property is no exception. Medium-to-high density residential living in this area is in high demand, and apartment sales are at record levels.
“End residential users like this area for its retail and transport amenity, and for its trendy atmosphere and aesthetic appeal.”
The inner north has been popular lately with nearby development sites 466-482 Smith Street in Collingwood, and 304-310 Lygon Street in Brunswick, selling for $5.4 million and $2.27 million.
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Clifton Hill mixed-use development opportunity sold for more than $4 million

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The department store sector has been under an intense amount of pressure during the past few years, with Myer and David Jones feeling the majority of it.
But the recent moves by David Jones provides some insight into the company’s strategy – and it may just be what the company needs to survive.
Chief executive Paul Zahra said that the company had entered into an agreement with Dick Smith Electronics – recently sold to private equity group Anchorage by Woolworths – to operate the existing electronics business under the Dick Smith banner.
Specifically, the products will be branded under “David Jones Electronics Powered by Dick Smith”.
Under the terms of the agreement, Dick Smith will acquire all of David Jones’ electronics inventory, as well as fittings. Dick Smith will be responsible for fulfilling all orders.
“Dick Smith will…pay to David Jones on a monthly basis a fixed percentage of the sales generated by the David Jones Electronics Business,” the company said.
This gets rid of a lot of problems for David Jones. It no longer has to deal with a low-margin business and it can focus on what it does best in other categories. At the same time, it provides Dick Smith with a good way to start expanding after a recent downsize.
David Gordon, partner at Lowe Lippmann, said that the move makes “complete sense”.
“To bring in a partner that has expertise in those categories is a good move,” he says. “Their position is that they’re turning around – and so they need to focus on what they’re good at.”
The David Jones-Dick Smith partnership is a great move at turning the department store’s fate around. But more than that – it’s just a great business move.
So here are five lessons smart businesses should take away from this deal – lessons they should implement in their own companies:
<img alt="numberonejuly11" height="32" width="25" src="/images/stories/2013/07/NUMBERS/numberonejuly11.jpg">
Focus on what you’re good at
David Jones is traditionally good at a few things – selling fashion and high-end consumer goods.
Televisions and electronics equipment aren’t in this category. It doesn’t employ specialists who know all there is to know about every product, and worse than that, the stores don’t even stock a lot of inventory in these categories.
When consumers head to David Jones, they want to buy dresses, suits, cosmetics and higher-priced homewares goods. Focusing on those categories is a solid move.
<img alt="numbertwojuly11" height="29" width="25" src="/images/stories/2013/07/NUMBERS/numbertwojuly11.jpg">
Get rid of low margins
Televisions and electronic equipment is a notoriously low-margin business. Earlier this year the company even said it would stop selling games, music and DVDs as a first step towards transforming its electronics category.
JB Hi-Fi may have delivered an 11% profit increase yesterday, but its chief executive Terry Smart will no doubt say televisions are a low-margin game. David Jones is already heavily invested in fashion, an industry which has suffered in recent years.
Losing a low-margin category is always a good decision.
<img alt="numberthreejuly11" height="33" width="25" src="/images/stories/2013/07/NUMBERS/numberthreejuly11.jpg">
Keep control of your brand
David Jones has a solid brand – at first glance it seems partnering with Dick Smith is a combination that doesn’t quite gel.
But note the branding chosen under the deal – “David Jones Electronics Powered by Dick Smith”. This is an operation run by Dick Smith, but David Jones keeps its name square in the centre of that title.
Protecting your brand is paramount. David Jones’ insistence upon such a name indicates it realises just as much.
<img alt="numberfourjuly11" height="32" width="25" src="/images/stories/2013/07/NUMBERS/numberfourjuly11.jpg">
Use as much data as you can
There is a key part of the David Jones-Dick Smith agreement which provides the department store with quite a bit of power:
“The Electronics business customer database will continue to be owned by David Jones and used by the Company for marketing purposes,” it says.
Data is king. By keeping control of its database, David Jones has allowed itself a significant amount of power. Clever businesses would ensure the same.
<img alt="numberfivejuly11" height="27" width="25" src="/images/stories/2013/07/NUMBERS/numberfivejuly11.jpg">
Partners can be beneficial
This isn’t the first time David Jones has partnered up. Recently the company <a href="https://www.smartcompany.com.au/retail/053871-online-retailer-shoes-of-prey-teams-up-with-david-jones-to-launch-in-store-sales-booths-2">launched a deal with online retailer Shoes of Prey</a> to set up a booth inside the department stores. There customers can use tablets to customise shoes on the website.
When a partnership is a good fit from a branding perspective, there’s no reason not to explore or experiment. Clearly allowing different companies to set up shop in David Jones is a way the department store can hedge its losses – there are almost certainly more on the way.
This article originally appeared on <a rel="nofollow" href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Five key lessons from the David Jones and Dick Smith co-branding deal

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A 1790 square metre commercial property site currently occupied by tiling company Price Tiles in Leichhardt, NSW has been put up for auction.
Located at <a href="https://www.realcommercial.com.au/property-land+development-nsw-leichhardt-500836335" target="_blank">33 Flood Street</a>, the site (pictured above) has been made available for the first time in 44 years, according to listing agent Michael Montano of Raine &amp; Horne Commercial.
On the site stands an office and storage building that measures 1445 square metres over two levels. It is defined by 7 lots on Flood Street, and located in a zoned residential area. It is also walking distance to parks, public transport, shopping centres and other amenities.
Montano told Property Observer the property used to be a timber yard before Price Tiles purchased it for $39,000 in 1969. 
“The building itself is unrenovated and a bit dilapidated. The main part of the building is where it was the original timbre yard; it has a solid brick wall with nice timbre trusses and exposed beams.
"It hasn't been updated for some time and really reflects yesteryear,” he said.
The listing states that the property could be potentially used for residential developments, childcare facilities, education establishments and aged care services.
Montano added that the property market in Sydney’s west has been “robust”, and the site has attracted interest from childcare operators as there has been a “shortage of that".
The property is available to view by appointment, and goes to auction on Saturday, September 21.
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Redevelopment opportunity as Leichhardt tile showroom listed for auction

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While much of Australia is set to experience a flat to declining non residential building sector, recent industry forecasts show that Tasmania is set for an upswing in demand for non-residential work due to its unique set of factors.
“Demographics play a big part in this,” says Peter Barda, executive director of Australian Construction Industry Forum.
“An ageing population creates an increased need for aged-care facilities and health services. While the sharp uptick in demand for these assets will moderate when compared with the past decade, it will remain at relatively high levels.”
<img height="286" width="470" src="/images/stories/2013/08/acif-chart-aug-14-one.jpg" alt="acif-chart-aug-14-one">
The Tasmanian engineering construction sector also gets good news from the forecasts. Drivers in the local demographic are seeing, over time, an increase in the level of engineering work that may make interstate migration an option for some players.
Residential builders won’t be so pleased, though. ‘’A mild recovery is forecast, once we get through the next period of flat to declining demand,’’ Barda says.
The chart shows the relatively strong forecast for Tasmania’s non-residential sector compared to the outlook for the rest of Australia.
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Changing demographics creating opportunities for Tasmanian builders: ACIF

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Offering easy access to South Melbourne from all directions, Park Street is one of those streets that almost everyone who lives south of the Yarra has travelled along.
Linking Kingsway and St Kilda Road and close to The Shrine, Park Street takes a lot of through traffic to and from Domain Road and it’s on one of Melbourne’s major tram routes. It’s also the address of the hit TV series, The Block.
‘’Those looking to locate their business close to the city without paying CBD rates will find Park Street as good as it gets. Perhaps the best way to describe it is high profile, yet low key,’’ says Chris Curtain, a director at estate agents Lemon Baxter.
“This year has been notable for the good quality properties that have come onto the market in the South Melbourne/St Kilda Road precinct and 39 Park Street is another example that continues this trend.”
The four level office building of 1888 square metres on a 1078 square metre site is expected to fetch between $6.5 million and $7 million when it sells via an expressions of interest on September 5, says associate Nick Bade.
Built in the early 1980s and progressively refurbished over the years it has a vaulted foyer, ground floor office/showroom, three office levels plus parking for 27 cars at the rear.
Typical office floor plates are about 560 square metres except for the ground floor. The car park is accessed from Kings Place via a single driveway with a steel security boom gate.
The building’s mixed use zoning creates rental options, Curtain says. It has been successful in encouraging development of surrounding multi-level offices and multi-dwelling residential apartments.
Curtain says that out of the net lettable area of 1888 square metres the owner/occupier can access 887 square metres now. He says other tenancies with refurbished spaces and good natural light contribute around $384,330 per annum.
‘’With interest rates so low it would be cheaper to own than rent,” he says of the building which is ‘’the only one of its size currently being offered for sale in South Melbourne’’.
It has 18 air-conditioning units on the roof and a fully automated smoke detection system and traditional fire hose and real system.
Other comparable and recent South Melbourne office building sales:
<ul>
<li>
228 Albert Road South Melbourne, bought by a private investor in May, for $6.2 million
</li>
<li>
35 Market Street, South Melbourne, bought by a private investor in January, for $3.75 million
</li>
<li>
102 Dodds Street, bought by an owner-occupier last October for $8.87 million.
</li>
</ul>
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Park Street, South Melbourne mixed use offering

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A one-bedroom apartment in St Kilda was the cheapest auction sale in Victoria on a recent Saturday, according to Australian Property Monitors.
The unit at <a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-st+kilda-114369799">5/50 Carlisle Street</a> sold for $254,000 through Greg Hocking St Kilda.
The unit was listed with a price guide of “$235,000 to $260,000”.
It had been listed for rent in 2007 at an asking price of $215 per week, in 2012 at an asking price of $260 per week, and in June this year at an asking price of $250 per week, according to RP Data records.
Listing agent Rowan Bustin told Property Observer that the unit was currently rented out at $250 per week, the price reflecting a 5.12% rental yield.
Bustin also told Property Observer the auction was “very vibrant”, after the starting bid at $240,000. 
Bustin said the successful bidder was an investor.
“It is a very good investment with an over 5% return,” he said.
The block of units at 50 Carlisle Street has traditionally been priced quite cheaply in comparison to other units in the area. Recorded sales include unit 10, which sold in 2008 for $210,000, and unit 14 which sold last year for $290,000.
“The block is a great spot. Obviously there's some concern about the space it is situated in, it is two minutes from the red light district. But it is a well-policed area,” Bustin said.
He noted that St Kilda has been a popular suburb for investors as units for lease are snapped up very quickly and are rented at “realistic value”.
“With the cash rate, it is a stimulant for market activity and people buying in the area,” Bustin said. 
He added that most investors are couples who are looking to buy into the area.
Conversely, Bustin also noted that young females are dominating the St Kilda market.
“The buyers we've seen recently are young female, not the male purchaser anymore,” he said. 
But he cited a one-bedroom unit at <a href="https://www.realestate.com.au/property-apartment-vic-st+kilda-114288379">2/84 Blessington Street</a>, which was listed for sale with a price guide of “$260,000 to $280,000” and sold at auction for $325,000 when purchased by parents for their son.
According to the <a href="/news">latest RP Data report</a>, the median sale price for units in St Kilda is $450,000, down 4.3% on last year. The average discount required to sell a unit is 6.9%, while private treaty sales average 91 days on market.
The median asking rent for units is $380, while gross rental yield currently stands at 4.4%. 
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