Too often, heritage buildings become the podium for a contemporary tower. At <a href="https://www.apartments.com.au/new-apartments/623-collins-607-623-collins-street-melbourne-vic-3000">623 Collins</a>, <a>Sterling Global</a> challenged its design team to reverse that process.

The brief to <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> was deliberately simple: "Don't design around the heritage. Design from it." It became the philosophy behind a project that draws inspiration not only from two landmark heritage buildings, but from Collins Street itself, a street layered with architectural history and civic significance.

That philosophy has shaped one of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a> CBD's most considered residential projects, where the 1924 State Savings Bank and neighbouring Batman's Hill Hotel have become the architectural foundation for 623 Collins rather than remnants preserved beneath a new development.

[smartcode_project:default project_id=145324 project_image_fid=372749]

Rather than approaching the site as a blank canvas, <a href="https://www.apartments.com.au/developers/sterling-global">Sterling Global</a> saw the existing buildings as the beginning of the story.

"Sites like this rarely become available," the developer said.

"623 Collins wasn't simply an opportunity to develop a prominent CBD site. It was an opportunity to restore and reimagine one of Melbourne's important heritage landmarks while contributing to the continued evolution of Collins Street. For us, the existing buildings weren't constraints. They were the beginning of the story."

Instead of mimicking the ornate heritage architecture, Plus Studio studied the proportions, rhythm and craftsmanship of the original buildings before translating those characteristics into a contemporary 42-storey tower.

[smartcode_project:default project_id=145324 project_image_fid=372748]

"The brief challenged us to create a contemporary landmark that respected Melbourne's architectural history without becoming nostalgic," Plus Studio said.

"Rather than mimicking heritage, we sought to understand its proportions, rhythm and material language before translating those qualities into a distinctly contemporary architectural expression."

The practice says the State Savings Bank and Batman's Hill Hotel became the project's primary source of inspiration, allowing the heritage buildings and contemporary architecture to exist "in conversation rather than contrast." Generous planted terraces further soften the transition between old and new, creating elevated green spaces while reinforcing the dialogue between the restored podium and the contemporary tower.

That dialogue continues throughout the interiors, where Melbourne designer Fiona Lynch developed a material palette inspired by the idea of alchemy, balancing contrasting materials that reference both the Neo-Grec detailing of the original bank and contemporary urban living. The result is a series of spaces that feel timeless rather than trend-driven.

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The project will deliver 316 residences across four collections, Heirloom, Signature, Reserve and the Penthouse Collection, with each responding differently to its position within the building, from the restored heritage podium through to the upper levels of the tower. The Heirloom Residences retain defining heritage elements including original heritage windows, generous proportions and high ceilings, while the tower introduces contemporary homes with expansive layouts and elevated views.

Amenities have likewise been designed to support long-term city living rather than short-stay convenience. Residents will have access to concierge services, wellness facilities including a pool, cold plunge, sauna, steam room and gym, alongside private lounges, entertaining spaces and dedicated resident clubs.

Sterling Global says that approach is resonating with buyers seeking permanence rather than novelty.

[smartcode_project:default project_id=145324 project_image_fid=354347]

According to the sales team, purchasers are looking for enduring architecture, generous floorplans, heritage character and long-term value, with many commenting that 623 Collins "doesn't feel like another apartment development" because of the way the architecture has been curated around the site's history.

Situated on the prominent corner of Collins and Spencer streets, the project occupies one of Melbourne's most recognisable gateway sites, marking the western entrance to the city's best-known street. For Sterling Global, it also reflects a broader shift in city-making.

"Rather than maximising development yield, the project embraces adaptive reuse as a design philosophy, allowing heritage to inform architecture, interiors and the overall resident experience," the developer said.

"The result is a building that feels uniquely connected to Melbourne."

[smartcode_project_cta:default project_id=145324]

Joel Robinson

How Sterling Global designed 623 Collins from Melbourne's history

Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

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<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

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 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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I love comparing apples with apples. When it comes to property managers, this is something you can easily do. In theory, property management is pretty much the same everywhere. Or at least it should be. Strong customer service to you, superior management of tenants, and prompt notification (and resolution) of any issues that fall in between these two parties – these are the skills you should be seeking when shopping around for a property manager. This is also the expectation you ought to have when selecting the manager for your property.
Excellent property management is such a crucial element to a successful investment. Like any investment or business venture, poor management of an asset – no matter how strong the asset is – could seriously compromise the viability of your entire investment.
Think of your investment property like a small business. For example, let’s say a corner sandwich shop. You’ve done all your due diligence on the sandwich shop before purchasing the business, so you’ve checked the figures: inventory, turnover, growth, and depreciating asset values. But if you hire mediocre staff to manage and run the business day to day for you, poor management can drive it in to the ground and turn a profitable sandwich shop into a one that is not profitable.
Of course, that manager you hired during the interview sold his or her skills and assured you he or she was highly capable, yet this has not transitioned to successful business management.
You must think of your property manager as your business manager. They control the quality, checking and ultimate appointment of tenants, the (swift) sourcing of new tenants should current ones choose to vacate, and the satisfaction of tenants by way of prompt responses to repair requests and general enquiries.
Finding good tenants is only half of the battle; the other half is keeping them. Retention is so important because it is effectively the cream on the top of an already great investment. Most property investors, including myself, will factor in two or three weeks of vacancy per year in their overall holding costs, so when you are canvassing properties you are considering for purchase, in your cost analysis you should always factor in at least two weeks per year of vacancy.
If your property manager is competent, they will work hard to keep good tenants happy, and you may find yourself in the fortunate position I have been in for one of my properties, where I’ve had the same tenant for three years. This is great because to my bottom line, that’s six weeks of additional rental revenue I had not actually budgeted for. Sure, as an owner you should always act promptly to requests from your property manager on behalf of the tenant, but what good is this when your manager did not even report the problem to you for three months to begin with?
Finding a good property manager can be tough, and sometimes it is hard to distinguish two candidates from one another. And once you do find a good property manager for your first property, what happens when your portfolio starts growing? How do you manage multiple properties with multiple property managers? At what point do you consolidate, and how easy is it to transfer and change property managers?
You may get to a point, after acquiring several properties, where employment of a different property agent company for each one becomes too complex and tough. At this point you may want to consolidate this management to a company or manager who is capable of managing all of your properties, regardless of geography. There are many experienced management companies out there offering such services that can manage portfolios across multiple states and territories.
 
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So what are the best attributes to look for when appointing and agent? And what things should you avoid? Today I’ve put together a list of things to keep in mind when seeking a managing agent:
1)      Don’t just settle for the real estate agent you happened to have purchased a property from. As a forward-planning investor, when appointing managers you must look beyond the here and now and think of property managers that are capable of managing outside of the immediate suburb/council district/city/state that your first property exists within.
Selling agents see the easiest (and perhaps laziest) “up sell” in the property world as selling a property to an investor and then offering to manage it. And in some instances, this will make sense. If the tenant has already been there long term, and the same agent has managed them the entire time, then the relationship between the tenant and the agent is usually pretty solid. So why fix it if it isn’t broken? However, this is also something to be wary of. Ask the agent what his or her growth capacity is, and then ask what discounts you’ll be entitled to should you opt to choose him or her, and then grow your portfolio.
2)      Let agents you speak to know that you are speaking to other agents! This is a common business tactic that is effective in almost any industry, and property management is no exception. You must position yourself as being a client worth fighting for. Let them know that you are a serious investor and that you are “looking for a partner to grow together with”. This sounds so much better than “I need someone to look after my place for me”. Agents worth their salt will go the extra mile and fight hard to win your business. You’ll quickly distinguish those who agents who consider you as being “too tough a client” to those who see the potential in winning your favour.
3)      Experience, credentials, testimonials, and references – do you due diligence. This is actually the most important one. Look at websites for property managers who have loads of testimonials. I always go by these. And I’m not shy about “stalking” some of those testimonials on Linked In or Facebook, sending them a message telling them I am an investor and checking personally their view of their managing agent. Ask to see references or ask for a list of long-term customers whose portfolios they are managing.
4)      Negotiation, economies of scale, and “buying in bulk”. Of course, top-notch service is the priority when appointing a property manager. But so too is the bottom line. Regardless of your investment strategy, and whether it is a short term or long term one, we are all in the property investment profession to make money, so one way to help increase revenue margins is to reduce your overall holding costs.
Sure, when you have just one property, the difference between say a 6% property management fee and a 4% one may not seem that great. But again think of that scenario in 10 properties’ time. Let’s say your weekly rent on one property is $350, the 2 percentage point difference per month in management fees is only $84-$56 = $28 per month, so $336 per year. However, when you have 10 properties, that annual savings translates to $3,360, which is a serious saving. Look for property management companies that are able to manage in this way: in other words; wherever your next portfolio purchase may take you. 
 
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5)      Think beyond real estate agents. Real estate businesses make the bulk of their revenue from property sales, not property management. No discredit to agents, but why partner with a company that, from the outset, is not as driven to provide the best management service because its primary revenue does not come from there? It is like comparing the quality of bread sold from a major supermarket versus a boutique corner baker. The boutique will almost always be better, because baking is all they do. They must hang their hat on baking as a skill or else their business fails. Estate agents sometimes see property management as merely an ‘add on’ to their primary revenue stream.
6)      Regular inspections and tenant screening. Ensure that whoever you appoint has, in writing, that their service to you will include twice-yearly (at minimum) inspections to your property. Even if the tenant is a long-term one and looks after the place, it is important for the tenant to know that the agent is actively checking up on the property regularly. As for tenant screening, ask many questions around their process of tenant selection and appropriation. Have a copy of their rental application form emailed to you and inspect it. Generally speaking, the more thorough the application forms, the better quality of property management it is.
Success in holding investment property as an asset class short or long term is significantly dependent on management. Unlike investing in say gold, or managed funds, which are typically “set and forget” investment classes, property allows you to be dynamic in the management process, which in turn can help you increase your return significantly if managed well. Just make sure you partner with people who will help this vision, not hinder it.
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a href="https://propertyspectator.blogspot.com.au/" target="_blank">Property Spectator.</a>
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cmcevoy-Go82SmsJA9

Six things to look for when choosing a property manager

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Australia's largest charitable group, World Vision Australia, will pay around $85 per square metre net per annum to lease a 1,250-square-metre office and warehouse facility at Croydon South in Melbourne’s eastern suburbs in a deal negotiated by Savills Australia.
The combined warehouse and office is located at the Merrindale Estate Business Park at 36 Research Drive on a 2,023-square-metre site zoned Industrial 1 with 18 on-site car spaces.
The leasing deal was brokered by Savills’ Notting Hill office executive Adrian Smith.
World Vision had taken a five-year lease with two, five-year renewal options and will move from former leased premises in Mulgrave. 
The lessor is a local private investor.
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lschlesinger-FZcF9M3vE6

Charity World Vision leases warehouse space in Croydon

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A local investor has acquired the warehouse premises of Classic Picture Framers in Clayton for $515,000, equating to yield of around 7%, in a private sale.
<img src="/images/stories/2012/10/classicframers.jpg">
The price is exclusive of GST.
Classic Picture Framers has a long-term lease on the property, which is situated at 49 Sarton Road in Melbourne's outer south-east.
It was marketed and sold by Ryan Amler of Ray White Commercial Oakleigh, who said he fielded over 25 enquiries about the property before completing the sale to the local investor.
RP Data records show the warehouse took just 32 days to sell, having been marketed at $540,000 plus GST.
 
“The property currently returns approximately $36,000 per annum, plus GST and outgoings, so the fact it had a long-established tenancy agreement that delivers a consistent and healthy yield meant interest would be high," says Amler.
The warehouse measures 450 square metres with a total land area of approximately 712 square metres.
“The size of the complex is advantageous, and the on-site parking and terrific street frontage to busy Sarton Road make it a prime location for a number of commercial uses,” says Amler.
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Investor picks up outer-Melbourne warehouse for $515,000 on 7% yield

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A Singapore developer has been called “a bit cheeky” and "a little bit arrogant" by Melbourne lord mayor Robert Doyle for selling apartments in proposed CBD skyscraper Melbourne Tower to Asian investors, despite not yet receiving planning approval from Victorian Planning Minister Matthew Guy.
CEL Australia, a subsidiary of Singapore-based developer Chip Eng Seng Corporation, is still awaiting a permit to build the 68-storey, 220-metre tower on the corner of Queen and Bourke streets.
Sydney developers have a greater reputation for the pre-approval sale practice, with half of the <a href="https://www.propertyobserver.com.au/developments/edwin-davey-flour-mill-rises-again-as-harbour-mill-as-investors-rush-to-secure-stamp-duty-exempted-units/2012052954887" target="_blank">apartments in the Ceerose's Harbour Mill </a>selling ahead of an expected approval in May. But NSW has a staged development process, and developers have pre-sold apartments with a fair degree of confidence of having the project approved.
Observers have noted that a 68-storey tower in the heart of the Melbourne CBD is another matter entirely.
The planning permit for the Melbourne Tower application features 581 apartments, 12 storeys of office space as well as retail and food services on the lower levels.
The skyscraper has been designed by local architects Elenberg Fraser, featuring thin undulating glass construction and would be just shorter than the iconic blue glass Rialto Tower, which rises to 250 metres at the Southern Cross station end of Collins Steet. The Eureka Tower on South Bank is Melbourne's tallest tower, rising to 297 metres.
<img style="margin: 5px; float: left;" src="/images/stories/2012/10/melbournetower1.jpg">
According to Fairfax, the apartments in the building are being “heavily marketed to Asian investors, particularly a newly wealthy generation of Chinese entrepreneurs and business people”.
The application for Melbourne Tower was submitted on March 29 and is currently listed as “under assessment”.
The site at 150 Queen Street currently houses the 1960s-built 14-level office building known as the Prudential Building, which was purchased for $25.5 million in September last year following a joint Savills and Colliers International campaign. It was sold by Charter Hall, which bought it for $32 million in September 2007, just before the commercial property market peaked.
Its development is opposed by the Melbourne City Council, with Doyle, currently in an election battle, labelling it “too big”.
“In the core of our city we do have tall buildings, but we don’t want canyons, and we need to think about the culture of the city.
“At the footpath level it needs to be something that is active and adds to culture of Melbourne,” he told the Ten Network.
Doyle called the move to sell apartments prior to approval as “not only a bit cheeky” but also "a little bit arrogant" though there is nothing illegal about doing it either in Singapore or Melbourne.
“I understand this is still at [Victorian planning] minister [Matthew Guy’s] desk.
“He has not said yes or no.” If Guy does say yes, Doyle said he could not fight the decision, as it is a ministerial decision.
Guy himself has also labelled the move to sell apartments in Melbourne Tower as "very cheeky".
''And that's very much an understatement – of someone to be selling off the plan to people on a tower that isn't approved," Guy told ABC Radio.
In a statement, CEL Australia said it has been “cooperating with the Department of Planning and Community Development in relation to the development approval for Tower Melbourne”.
CEL Australia corrected an earlier media release, which said it was co-operating directly with the minister's office.
Doyle says high-rise buildings need “human scale”.
“When you get mega-buildings you have to look at the context as a whole."
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Singapore developer 'cheeky' for selling unapproved Melbourne CBD high-rise project off the plan: Lord mayor

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Three hotels straddling the glittering lights of Kings Cross have been listed for sale - the Mercure Hotel, the D*Lux and the Diamant Hotel.
Property Group Australand will again try to sell its $70 million <a target="_blank" href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-potts+point-500465999">Mercure Hotel, formerly known as the Crest Hotel</a> (pictured below), near Kings Cross station.
<img src="/images/stories/2012/10/cresthotel.jpg">
The group has enlisted Jones Lang LaSalle Hotels agents Mark Durran and John Musca to sell the hotel, which includes gaming pub on the ground floor.
The building is being offered in one line or as different stratas.
The decision to sell the trophy property “in the not too distant future” was raised in Australand's July results, with the group saying the hotel was not core to its portfolio, though it was performing well.
The Crest Hotel comes with some interesting associations, including links to the recent the death of Michael McGurk.
In 2007, Australand bought the hotel for $63 million from Coogee Bay Hotel owner Chris Cheung. Cheung had bought the hotel from developers Allen Linz and Eduard Litver. After closing the sale, Australand announced plans to convert the building into a series of apartments, waiting for the market to improve.
Australand never saw those plans through, but in 2009 the group came close to selling the building for $72 million to developer Michael Sanchez, whose Benchmark Group planned to do the conversion.
Sanchez narrowly pipped the cash-strapped Michael McGurk, who desperately tried to negotiate a deal to have the syndicate he represented buy the property for $70 million. He died shortly afterwards.
Both deals eventually fell through but the conversion plans were never scrapped, with Australand coming close to developing the building 2010.
Way back in 1992, a Korean developer bought the hotel for $23.8 million.
 
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Meanwhile the nearby<a target="_blank" href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-potts+point-500433575"> D*Lux Budget Hotel</a> (pictured below next to the Empire building) has been listed for sale also by Jones Lang LaSalle.
<img src="/images/stories/2012/10/dluxhotel.jpg">
Currently run as a budget hotel with beds starting from $22 a night, it is being offered as vacant possession.
At 30 Darlinghurst Road, the building is a near entreprenuer David Kingston’s significant holdings.
The hotel is currently owned by veteran Sydney property investor Millie Phillips through her company Rebenta Pty Ltd.
Phillips, a former nickel mining spruiker, owns a number of hotels and retirement homes throughout Sydney.
In 2010, Phillips started trying to find a new tenant for the property.
The property was unsuccessfully listed last year for $14 million.
Current listing agent Peter Harper declined to give a price for the property, saying it’s an expressions of interest campaign and they’ll hear from the market before they list a price.
It’s in its second week of marketing this time around, with Harper saying there has been inquires from 40 to 50 potential buyers.
He says it’s been a mixed group of potential buyers including developers, possible owner-operators, and people looking at converting.
It currently earns just under $700,000 per year.
The seven-storey building includes 60 ensuited rooms with approximately 300 beds in a dorm arrangement. It has a TV room, two lounge rooms with bathrooms, a computer room, a large kitchen and two storage rooms.
It also has two retail tenancies at 226 square metres.
 
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And the <a target="_blank" href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-potts+point-500471243">Diamant Hotel</a> (pictured below), on the eastern side of Darlinghurst Road, has been listed through Jones Lang LaSalle.
<img src="/images/stories/2012/10/diamant.jpg">
The four-star boutique hotel on Kings Cross Road comes with 76 guest rooms and three retail lots.
The hotel, run by 8Hotels, is being sold by by owner Arena Funds Management.
The building was originally constructed in the 1970s and was then operated as the Hyatt Kingsgate. It then became the Millennium Hotel and underwent renovation in 2007. The strata-titled building consists of the Diamant Hotel, three retail lots, 49 commercial office suites and a penthouse apartment. Arena Funds Management own just three of the stratas amounting to 4,583 square metres, all of which are offered for sale.
Its hotel runs from levels two through six while the three retail lots are on the lower ground, ground and mezzanine floors.
The three retail stratas are leased by Ginseng Baths, Hillery Group's wine bar Time to Vino, and Latitude Fitness.
The main lease is due to expire in 2019.
The group has $51 million in investment properties.
The operator recently unveiled three new apartments in the hotel, which were converted from office space on the hotel's 11th floor, with prices reportedly starting from $500 a night.
And speaking about leisure properties, two nearby brothels have been listed for sale.
<a target="_blank" href="https://www.realcommercial.com.au/property-retail-nsw-kings+cross-500070421">Studio 52</a>, on Kellett Street has been listed for sale at $2 million plus.
The 10-room brothel is licensed as a 24-hour, seven-day-a-week sex parlour.
And just next door, at <a target="_blank" href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-potts+point-500126486">48 Kellett Street</a>, Moods of Sydney brothel has been listed for sale as well.
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Mercure Hotel, D*Lux Budget Hotel and Diamant Hotel listed for sale in Kings Cross

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Australand has slammed some of its biggest house-and-land competitors for offering incentives to entice buyers as the outlook for the Melbourne land market remains soft.
Land sales on Melbourne’s fringes have been in decline since the second half of 2009, falling from 16,000 sales in 2010 to just 6,000 for the first six months of 2012, according to the latest Melbourne communities report from Colliers International, which forecasts only modest growth ahead.
Median land prices fell by 9% over the six-month period, from $215,000 to $205,000, but recorded an increase of 7% year-on-year.
Developers have also been hurt by the withdrawal of the $13,000 Victorian government first-home buyer handout for the construction of new homes, which ended in June.
Australand general manager Rob Pradolin told Fairfax the current land market remained tough, with first-home buyers disappearing following the ending of the grant, but says rebates and incentives are causing hundreds of home owners to pay more stamp duty because the face value of contracts included those extras.
He says there is a lot of competition in the marketplace, with “developers under-cutting each other and offering significant incentives to make a sale”.
Pradolin says rebates are disguising the adjustment that has already occurred in the Melbourne land market and says it is about time developers face the facts, give a simple best price and move on.
Australand has eight land estates for sale on the Melbourne fringes including Casiana Grove in Cranbourne West, with land prices starting at $187,000 featuring 670 lots.
According to Colliers, 400 lots remain available for sale in this development.
Among those offering incentives is one of Australand’s biggest competitors, Stockland, which is offering a $10,000 cash rebate on selected lots.
The rebate is offered at Selandra Rise in Clyde North, the-top selling residential project over the second half of 2011, according to the same Colliers report.
Lend Lease is offering to pay back the value of stamp duty of the land component of the sale to be received as a cash-back upon settlement before December 7, 2012.
Another developer, Peet, was giving away Toyota cars up until October 14.
Other developers offering incentives include Intrapac, which is offering a $15,000 new home buyer grant at its Somerfield development at Keysborough in Melbourne’s south-east, which is available to all buyers.
“We’re extending the expired new home buyer hrant to include everyone,” says the Somerfield brochure.
Some of the promotions come with flashy, attention-grabbing signage.
<img src="/images/stories/2012/10/hotlots.jpg">
The Stockland offering is called the “Hot Lots Offer” complete with burning flame.
Other developer incentives have included cash rebates, stamp duty rebates, free fencing and landscaping.
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Flashy developer incentives push up cost – and attendant stamp duty – of Melbourne land packages: Australand

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<img src="/images/stories/2012/10/cbrelogo3.jpg">
CBRE Melbourne CBD retail specialist Zelman Ainsworth talks about the work he did on the retail leasing of the newly refurbished Hamer Hall in the Arts Centre, including concluding leases with a number of Australia’s biggest restaurateurs.
How long have you been in the industry?
Three years.
What’s happening in the area you specialise in?
I specialise in Melbourne CBD retail leasing. Retailing has generally been difficult over the last 24 months due to the competition from online retail and the newly adapted saving habits people are becoming accustom to. Although the Melbourne CBD retail market has proven to be resilient when compared to the suburban retail markets, this can be accredited to the limited retail vacancies in the Melbourne CBD and the success CBD retailers have been experiencing due to the large increase in CBD residents, office workers and visitors over the last five years.
<img style="margin: 5px; float: left;" src="/images/stories/2012/10/zelman.png">
Describe the most interesting property you have sold/leased:
I was fortunate enough to work on the retail leasing of the newly refurbished Hamer Hall in the Arts Centre. This high-profile project attracted interest from some of Australia’s biggest restaurateurs and chefs; it was a privilege to work with such great talent. We concluded a leasing deal with Frank Van Haandel for his new restaurant Trocadero and the Sydney-based Asian restaurant Sake. We will soon be announcing the last and final restaurant deal within the Hamer Hall, which will certainly be as high-profile and exciting as the first two leasing deals done.
What are the ingredients to being successful in your job?
Working hard and always be proactive, avoid taking any shortcuts and always do my absolute best. I always strive to give the best possible advice to clients. It helps to put myself in their shoes and think, 'What would I do if this was my property?'.
What aspects of your role do you enjoy the most?
Working with creative and exciting retailers and restaurateurs and getting a clear understanding of their retail requirements and then going out to the market and helping  them make the right property decisions for their business. At the same time  achieving the best possible outcome for our clients’ retail properties.
Where would invest a spare $750,000?
Use it as a down payment to buy a retail property anywhere in the Melbourne CBD.
Which football team do you support?
Collingwood (maybe next year, boys).
What’s your favourite app or techno gadget?
Google Maps.
How do you use social media?
I use <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/zelman-ainsworth/21/30b/154" target="_blank">LinkedIn</a>.
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In profile: CBRE's Zelman Ainsworth, Melbourne CBD retail specialist

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There are a growing number of investors using their self-managed super funds (SMSFs) to purchase fast-food outlet premises, attracted by the opportunity to earn rental yields as high as 8%.
This follows a number of recent sales of fast-food outlets, including a Red Rooster on Murray Street in Colac that sold for $1.3 million with a yield 7.16%.
Burgess Rawson agent Jamie Perlinger, who sold the property,believed that the brand name played an important part in the sale, as well as the long lease term.
“It was two things, the brand and the 15-year term,” he tells Property Observer.
Other recent fast-food outlet sales include a 440-square-metre Hungry Jack’s in Corio, Geelong, which sold at auction in August for $1.9 million with a yield of 7.83%.  The Hungry Jack’s lease runs until 2017 with multiple renewal options and brings in rent of around $153,000 per annum.
A combined Subway and KFC outlet in Riverstone, NSW, measuring 778 square metres was also sold for $1.3 million, with a yield of 6.7%. Both fast-food outlets are on long leases bringing in net income of $88,000 per annum plus GST.
Both were marketed by Burgess Rawson.
“There has been a lot interest in properties between the $1 million and $2 million price bracket. A lot of investors are after that kind of price and have been interested in investing through their self-managed super funds,” says Perlinger, who believes that yield rates of between 7% and 7.5% on these properties would remain steady over the coming months.
A combined Red Rooster and Souvlaki Hut premises is currently on the market. It is at 40 Princes Highway, in the small town of Traralgon in Victoria.
The 372-square-metre premises is leased by the fast-food chain on 10-year lease with rent of around $178,000 per annum.
Traralgon is the retail capital of the Latrobe municipality, with a trade catchment in excess of 70,000 people.
The property is for sale by private treaty, with the listing held by Raoul Holderhead and Jamie Perlinger of Burgess Rawson in conjunction with Ted Addison and Matt Addison of Addison Real Estate.
It last sold for $2.46 million in October 2010 with estimated annual rent of $200,000 – a gross yield in excess of 8%.
Another two KFC premises have been listed for sale by Burgess Rawson, the KFC in Casino in NSW's Northern Rivers region and the KFC Mona Vale. Both are on long leases and will be auctioned on October 30 through Burgess Rawson the listings agents.
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Investors have a taste for high yields, long leases and brand names of fast-foods premises

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Australia is clearly not the only country in the Asia-Pacific region where rising property prices have been linked to a possible housing bubble – and downplayed, says CommSec chief economist Craig James.
Attending a Standard &amp; Poor's (S&amp;P) briefing to analysts today in Sydney, James tweeted:
<a target="_blank" href="https://twitter.com/search?q=craigjamesoz&amp;src=typd"><img src="/images/stories/2012/10/jamestweet.jpg"></a>
Earlier CommSec tweeted that S&amp;P gave a "guardedly positive analysis of global bank system" adding that US banks are "85% through the working off problem loans".
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Tweet of the day: Hong Kong housing bubble risks downplayed by S&P, notes CommSec's Craig James

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Investment in the housing market has remained weak and at odds with housing demand fundamentals, the October minutes of the RBA monetary policy meeting have revealed.
The October 2 meeting minutes note that sentiment in the housing market is improving but also acknowledge the challenges faced by residential developers selling new houses in some areas, “given their prices relative to existing dwellings”.
At the meeting the RBA cut the cash rate by 25 basis points to 3.25%, just one rate cut off record lows.
“Dwelling investment remained at a low level in the June quarter, although there were signs of improving sentiment in the housing market more recently,” say the October minutes.
“Members noted that weak dwelling investment had been at odds with the fundamentals for housing demand, as evidenced by the relatively low vacancy rate, below-average mortgage rates and ongoing population growth.
“They observed that, in some areas, developers had difficulties selling new dwellings given their prices relative to existing dwellings." 
The RBA board also noted that the improvement in sentiment in the housing market had been accompanied by an increase in dwelling prices in recent months.
However, they also note that borrowers continue to deleverage, helped by the recent lowering of mortgage rates.
“Household credit had been growing a little more slowly than household incomes, with members discussing the desire of households to pay down their debts ahead of schedule, helped by the reductions in borrowing rates,” said the RBA.
The minutes indicate the decision to cut the cash rate was made mainly due to global concerns, with members noting that “recent indicators suggested that the pace of global growth had edged down”. The RBA says it had scope to cut rates  due to the inflation outlook being within its target range.
“At its previous meeting, the board had observed that the effects of earlier reductions in the cash rate were still working through the domestic economy, and that the outlook for inflation was consistent with the target over the next one to two years.
"Members concluded that the current assessment of the inflation outlook provided scope to adjust policy in response to the softer growth outlook. Therefore, at this meeting the Board judged that it was appropriate for the stance of monetary policy to be a little more accommodative, thereby providing some additional support to demand over the period ahead,” said the RBA board.
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