A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

&nbsp;

Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada Australia</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada Australia's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada Australia as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

First look: Arada Australia doubles down in Campsie with 33-storey Metro-front tower plans

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

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

The inflation result the property market was waiting for

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EXPERT OBSERVER
This column is going to be a little controversial however, lenders are well within their rights keep a portion of future rate cuts up their sleeve.
Furthermore, the fact that banks have to consider mortgage holders as well as savers is an important consideration.
It is true that Australians are obsessed with housing.
In no way is this better reflected by the fact that interest rate cuts are cheered because they lead to cheaper interest cost on our mortgages and interest rate rises are jeered because our repayments increase. This is notwithstanding the fact that lower interest rates typically reflect a slowing economy with low inflation and low wages growth that requires more stimulus.
On the other side, higher interest rates typically reflect stronger inflation, stronger wage growth and an economy that is overall too strong.
Looking at data from the Reserve Bank to April 2019 shows that the value of deposits with authorised deposit-taking institutions (ADIs) was recorded at $1.584 trillion.
By comparison, the total value of outstanding mortgages was recorded at $1.825 billion. The value of outstanding housing credit is larger than the value of deposits however, bank deposits account for 86.8% of the value of outstanding housing credit.
Since this long interest rate cutting cycle began in November 2011, the cash rate has dropped from 4.75% to 1.5% in May 2019 with an additional 25 basis points of interest rate cuts delivered this month, taking the cash rate to 1.25%. Between October 2011 and May 2019, an owner occupier with a principal and interest mortgage has, on average, seen their mortgage interest rate reduce by 218 basis points.
Over the current interest rate cutting cycle, mortgage interest rates to owner occupiers have reduced by 218 basis points however, the drop in savings and term deposit rates has been much greater.
As an example the fall in some of the rates are detailed below (based on averages published by the RBA):
1. Rates for banks bonus savings accounts with at least $10,000 have fallen 330 basis points to 2.15%
2. Rates for online savings accounts with at least $10,000 have fallen 400 basis points to 0.85%
3. Rates for cash management accounts at banks with deposits of at least $10,000 have fallen 320 basis points to 0.45%
4.Rates for three month term deposit rates with at least $10,000 have fallen 320 basis points to 1.85%
5. Rates for three year term deposit rates with at least $10,000 have fallen 330 basis points to 2.3%
As this data shows, while on average the benefit of the reduction in mortgage interest rates to owner occupier borrowers has been 218 basis points, the reduction in interest rates for savers has been significantly larger. Mortgages are a generally large and significant debt, so many view the drop in mortgage interest rates as more beneficial, especially with the increased use of mortgage offset accounts over recent years.
However, with official interest rates as low as they are currently and savers having experienced much greater interest reductions than mortgage holders, it could be argued there is currently little benefit in saving.
While that may potentially be good for the economy (more spending) and lower interest rates are certainly perceived as good for mortgage holders, there is a fairly large proportion of the population that rely on savings as well as those that have little or no mortgage debt.
Another factor to consider is that the major banks, which account for the majority of mortgage lending in the country, remain heavily reliant on domestic deposits to fund their mortgage lending. The latest data available shows that around two thirds of major banks non-equity funding comes from domestic deposits.
Very low interest rates discourage saving and over time could lead to a drop in domestic deposits and an increase in the requirement for lenders to increase their reliance on other sources of funding (such as offshore).
Listed lenders also have a responsibility to their shareholders. Very low mortgage rates have the potential to further depress net interest margins.
This increases the likelihood that future cuts to the cash rate may not be passed on in full and likely explains why the reduction to deposit rates have to-date been larger than the cuts to mortgage interest rates.
As always when interest rates are changed there are winners and losers.
For the most part the focus is on the benefit of lower interest rates for mortgage holders what is often forgotten in the conversation, and has been throughout the current rate cutting cycle, is how much lower interest rates hurt savers and disincentive saving.
Given cuts to interest rates for savers have been much greater than cuts to interest rates for mortgage holders and savers are not that much of a smaller cohort than mortgage holders it is reasonable for lenders to have greater consideration of the impact of the current ultra-low interest rates on this segment of the market.
CAMERON KUSHER is the head of research for the Australian branch of CoreLogic
Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.
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The case for not passing on RBA cash rate cuts to home loan mortgage rates: CoreLogic's Cameron Kusher

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A Templestowe Lower, Victoria mortgagee home has sold at auction for $525,500.
The 2013 built terrace went to auction with a price guide of $450,000-$495,000.
Declan Treacey and Michael Moretti of Phillip Webb held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-terrace-vic-templestowe+lower-131218222" target="_blank">3/215 High Street</a>, Templestowe Lower the property is held within a boutique complex that is walking distance from Macedon Square.
Set across two levels, the terrace comprises two bedrooms and two bathrooms.
Featuring secure basement parking, the property has easy access to the freeway &amp; public transport.
Last listed as a rental in 2016, it had an accompanying price of $460/pw a minor reduction on the price it sought in 2013 and 2015 of $480/pw.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/templestowe-lower-vic-3107">Templestowe Lower</a> is $1.1 million according to CoreLogic, which calculate its annual change in median price over the past 10 years as 5.4%. 
 
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Templestowe Lower mortgagee home sold for $75,000 above price guide

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A Southport, Queensland, mortgagee home has sold for $502,000.
When it first entered the market in September 2018 it had a price guide of $780,000, following multiple reductions and one unsuccessful auction, the home has sold for $278,000 less than what was initially sought.
Clare Brettell Mike Roberts of Ray White held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-southport-131232486" target="_blank">111 Benowa Road</a>, the four bedroom, two bathroom house was sits on a 600 sqm block.
The current home was built in 2015, however the property last sold in 2013, transacting for $270,000 after two and a half years on the market.
In June 2011 the vendors originally sought $399,000, however following numerous asking price reductions, the property eventually settled at it's asking price of $270,000.
Featuring a two car garage, along with three additional parking spaces, the home is close drive to schools, shops, hospitals and other amenities.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/southport-qld-4215">Southport</a> is $546,250 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 7.5%. 
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Southport, Queensland mortgagee home listing slashed $280,000 sold

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Perth architecture and property development group Baltinas’ new mixed-use development on Beaufort Street in Mount Lawley has been approved.
The project was approved by The City of Vincent.
It includes 26 luxury apartments with a mix of one to three bedroom offerings, offices, and ground floor retail and café spaces.
Baltinas’ founder Barry Baltinas said the CHALLIS development on the Highgate Drycleaners site had been named in honour of the couple who’d owned the site since the 1950’s until his company purchased it two years ago.
Mr Baltinas said the new landmark building would feature quality architecture drawing inspiration from Mount Lawley’s cornerstone art deco buildings.
He says that the tree planting system CHALLIS incorporates is unlike any other seen in Perth, with trees growing throughout the upper levels of the building.
“The calibre of this development will help enrich the local community by activating residential life and the town strip with new bustling retail, cafe and office space, and the inclusion of public art of significant importance,” said Mr Baltinas.
The development is targeted at the owner-occupier demographic, in particular the downsizer. 
“This downsizer market is potentially one that will spend most of their daytime hours out and about in the town centre supporting the local economy, so it’s a very exciting project for Mount Lawley and for us,” he said.
Construction is due to start in January 2020,
The project is forecast to be completed by July 2021
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Art deco inspired Mount Lawley, Perth development approved

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Billionaire Lindsay Fox has bought another commercial holding in Sorrento on Victoria's Mornington Peninsula.
The Fox family have paid $3 million for a 1,660 sqm fringe land holding at 856 Melbourne Road (above).
Currently on the land are two 1920s built homes.
It it's likely given its location one street back from the main shopping strip on Ocean Beach Road, that it will be developed into commercial premises.
One of the homes was known as Mayfair. They were sold as a tenanted investment, according to the Commercial Real Estate website.
The site sits along the road from where Fox owns a 4000 square metre site on the corner of Melbourne Road and Ossett Street, the busy roundabout at the far end of the retail strip.
Running from 839-843 Melbourne Road and on Ossett Street, Fox acquired it for $4.1 million in December 2015, settling October 2016.
CBRE secured the recent sale which was bought by a family run company Fox Shelf No 1 Pty Ltd.
The Fox family have their weekender compound at Portsea, a 16,000 sqm compound on the cliffs.
The most recent retail sale within the Sorrento township was $4.07 million for 54-56 Ocean Beach Road, the Sportsgirl premises - $1 million above reserve.
Investment company, developer and retirement living specialist Knowles Group bought the premises, paying more than $22,000 a square metre — a record for the popular coastal shopping strip. It is headed by Melbourne socialite Coral Knowles, the wife of John Knowles.
The Country Road concept store fetched $7.125 million in 2018 when the former Post and Telegraph office and postmaster’s quarters was sold. 
The 10-16 Ocean Beach Rd property on 750sq m had been expected to sell for over $6 million.
The vendor, former Rothschild Australia chairman Peter Griffin, paid $2.53 million in 2013 for the property.
It is currently leased until 2022 with two further five-year options available.
It sold to Anna Maria and Giuseppe Pollio.
In 2016, the Mitre 10 hardware store at 80-98 Ocean Beach sold for $11.47 million to Melbourne property developer Colin DeLutis on a yield of 0.4 percent.
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Billionaire Lindsay Fox buys another commercial holding in Sorrento

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GUEST OBSERVATION
Project managers are expected to effectively manage large and complex projects or programmes, but it is widely recognised that these large-scale projects are not always delivered as planned.
In liaison with the client, project managers commit to delivering the defined scope, within a forecast time and to a designated budget.
Despite the unavoidable optimism bias of project managers, in which we hear “not my projects, my projects are different”, the statistics around project delivery tell us majority of projects face budget overruns and delays. Nine out of 10 projects go over budget, with time overruns also being a major issue. It is true that some projects are delivered successfully, although the odds are not in favour of large-scale projects.
How do other industries get it right?
In other industries, such as the medical field, consistent developments and advances are made to its technology, and due to these advancements, medical outcomes are vastly improved as time goes on. Unfortunately, the same cannot be said for project delivery. Statistically we are just not getting much better, and that means that what we as projects managers have been doing up until now is not working effectively enough.
When surgeons prepare for a surgery there are fundamentals to be undertaken, such as effective testing, accurate diagnoses, precise anaesthetic, high levels of cleanliness and controlled recovery. The meticulous steps are taken so that innovative medical interventions can be made safely and effectively.
The project management industry needs to raise the bar
Current project management systems lack the big innovative methods that make a stepped difference. It seems project management has become static, and we need to move beyond the focus on more methodologies, more systems, more detail, more reporting and essentially, more work. The world is on the verge of a massive technological and social shift due to advancements in artificial intelligence, machine learning, increased connectivity, big data and the like. These changes provide project management, and professional service industries in general, with huge opportunity but also major risk.
Those who don’t move with technology will be left behind
Our profession must reposition its thinking and to step away from the heavy investment project management has in the status quo. We are going to have to experiment, and unfortunately we are not afforded the benefits of lab mice the way that medical scientists are. 
Socio-technical change is upon us and our profession must maintain but move beyond the past paradigm of disciplined project planning, management and reporting that has long been the dominant underlying philosophy.
Endeavour Programme is implementing technology advancements
<a href="https://www.endeavourprogramme.com/">Endeavour Programme</a> is applying artificial intelligence, data analytics and related technologies to assist project managers in delivering projects effectively and efficiently.
Alongside senior academics from the University of Oxford, Endeavour Programme has developed Octant AI, which uses machine learning and advanced data analytics to change the way projects respond to emergent risks and opportunities. It is the solution to human limitations and can dynamically predict critical factors and find better ways to avoid problems and manage issues. It delivers insights earlier, faster and more accurately than has ever been possible, so that project managers, owners, deliverers and financiers can make the right decision at the right time.
Endeavour Programme continues to partner with global firms to implement more effective and efficient project management practices.
DAVID PORTER is the founder and managing director of <a href="https://www.endeavourprogramme.com/" target="_blank">Endeavour Programme</a>
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Future management of large-scale projects: David Porter

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Vaughan Constructions has won the contract to build Australia’s largest distribution centre for key German supermarket player Kaufland.
The Melbourne facility will have more than 117,000 sqm of building area and will be built over two stages.
Stage one will comprise 98,700 sqm of building area and 107,210 sqm of concrete hardstand, along with 168 recessed loading docks and substantial temperature control areas.
The facility has a total projected investment of $255 million and will create 600 new jobs in Mickleham, around 30 kilometres north of the Melbourne CBD.
"Kaufland were very mindful that the European climate, construction and building materials can be very different than those in Australia and were thus keen to partner with a builder with a sound track record in delivering quality facilities along with the requisite experience building state-of-the-art temperature control areas,’’ Vaughan’s senior development manager Chris Telley said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/26/Kaufland%20Victoria%20.jpg" alt=""> Source: www.kaufland.com.au
He said a detailed Early Contractor Involvement (ECI) process had assisted in delivering substantial savings and design improvements for Kaufland.
"Our team worked very closely with the Kaufland team to overcome key supply chain issues and meet strict budget expectations.
"Through the ECI we were able to jointly explore a number of design options and put in place a detailed value management process,’’ Telley said.
The buildings will sit next to the Vaughan Constructions-built award-winning Dulux paint manufacturing facility next door.
Vaughan have previously built complexes for Aldi, Coca Cola, Coles, PFD, Kraft, Made Group, Ferguson Plarre, and Murray Goulburn.
In March Kaufland Australia announced the approval of it’s first three stores in Victoria in Dandenong, Epping and Chirnside Park.
Kaufland Australia has also received planning approval for two sites in South Australia.
 
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Vaughan Constructions to build Australia’s largest distribution centre for German supermarket giant Kaufland

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Multiplex, a global construction company, has completed restoration and refurbishment works on Trades Hall &amp; Literary Institute’s Trades Hall Living Heritage Project, funded by the State Government of Victoria.
The historic three level Trades Hall building in Victoria Street, Carlton. Victoria’s Trades Hall is Australia’s oldest and largest trades hall.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/26/TRADESHALL_small4.jpg" alt="">
It was constructed in 10 stages with the most significant occurring between 1876 to 1925 and is a prominent Carlton landmark that serves as a hub for union organisation.
The Trades Hall Living Heritage Project was led by architect and heritage consultant Lovell Chen, and focused on conservation works and refurbishment for the main public spaces in the 3,800 sqm heritage-listed building.
Works included the refurbishment to the New Council Chamber and building services upgrades. 
The also refurbishment included the specialist restoration of several of the main interiors, including the Old Council Chamber and the New and Old Ballrooms.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/26/TradesHall_2019.05_001_small2.jpg" alt="">
The Old Council Chamber officially opened in 1884 and the original 1880's decorative scheme, including significant portraits and elaborate wall treatments, is the work of prominent decorators of the period, C.S. Paterson Brothers.
Works to the New Council Chamber included the recreation of the original footprint resulting in 300 seat auditorium with restored honor boards and murals that had been covered during previous renovations.
The project also saw the construction of modern amenities facilities and a new lift to improve access throughout the building and deliver access to all new areas.
Work commenced in April, 2018 and according to Multiplex 550 people worked on site during construction.
This was one of the first major building projects to benefit from the Government’s Living Heritage Grants Program.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/26/Tradeshall.jpg" alt="">
The grant funding financed the refurbishment project plus essential conservation and activation works such as roofing works and repairs to the Lygon Street portico.
Multiplex recently delivered the Australian Nursing and Midwifery Federation’s (ANMF) multi-million mixed-use commercial development, located at 535 Elizabeth Street in Melbourne’s CBD.
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Multiplex complete restoration of Australia's oldest trades hall

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Brisbane-based fund manager Cromwell Property Group are set to purse over $1 billion worth of strategic growth opportunities across Australia and Europe.
Cromwell have announced an underwritten $375 million institutional placement at a fixed issue price of $1.15 per new security.
They have identified a number of strategic growth opportunities across both its indirect and direct property investment segments.
The opportunities will be funded with proceeds from the equity raising, recycling of existing capital and introduction of new capital partners.
The proceeds, along with recycled capital from asset sales, will provide funding for over $1 billion of value-add development opportunities across Cromwell’s existing Australian Core+ and Active real estate portfolio.
Cromwell CEO Paul Weightman said: "Cromwell continues to identify value enhancing investment opportunities across both its Indirect and Direct Property Investments that will deliver significant medium term growth in enterprise value for Cromwell and realise significant capital returns for securityholders.
"The Equity Raising will provide certainty of funding to pursue these opportunities, strengthen the balance sheet and allow for growth in distributions.”
“Cromwell has identified over $0.5 billion of high quality Australian core office opportunities and over $0.5 billion of office and retail opportunities in Europe which are ideally suited to our ‘Invest to Manage’ strategy.
"The warehousing of these opportunities will allow us to seed new funds, co-invest alongside our global capital partners and accelerate growth of assets under management (AUM).”
“Finally, Cromwell will also look to use the proceeds from the Equity Raising along with recycled capital from asset sales and sell down of new funds to deliver over $1.0 billion of accretive value add development opportunities across the existing Australian balance sheet portfolio.”
Cromwell have reaffirmed the FY19 guidance of operating profit of no less than 8.00 cps and distributions of 7.25 cps2.
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Cromwell Property Group identify $1 billion worth of growth opportunities

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A BP service station and convenience store in Penshurst has sold under the hammer for $2.6 million.
The self-serve service station on a 1106 square metre site at <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGjbELeHnO+iI0F/4HNRZHAZhkJjilzWfq&amp;rh=ff004d9112bb757b10ea167f9d4d8cc7b94563d2" target="_blank">494 Forest Road</a> was leased by a BP franchise.
The building measured 221 square metres.
The property was marketed and sold by Ray White Commercial NSW Director Michael Ajaka and Ray White Hurstville Sales Manager Christopher Munk.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/25/494%20Forest%20Road%20-%203.jpg" alt="">
Ajaka said the auction was attended by a 50-strong in-room crowd.
“The bidding started at $1.6M and more than 35 bids later, the sought-after asset finally sold for $2.6 million, $1 million more than the opening bid,” Ajaka said.
“Two multi-site service operators looking to add the property to their individual portfolios were raising their paddles, with a local Chinese syndicate and offshore buyer also bidding, until a local identity placed the winning bid.
“The sale represented a yield of five per cent net and highlighted how service stations are a solid investment in the current market. 
“It’s the only service station to be sold in the St George area in at least five years, with me selling the previous one.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/25/494%20Forest%20Road%20-%201.jpg" alt="">
Munk said the property benefited from a high volume of nearby traffic flow.
“The property is leased to the BP operator until September 2020 with 2x4-year options taking you all the way up to 2028,” Munk said.
“The asset produces $127,202 net rent per annum, plus GST, and has fixed three per cent increases.
“There were over 67 genuine enquiries for the asset, and they're still contacting Michael and I, wanting service stations.”
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Latest Expert Insights

The inflation result the property market was waiting for

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The inflation result the property market was waiting for

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New townhouses

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