Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

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

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As crazy as it sounds, settling a new off the plan apartment requires you to be even more organised then when you purchased. It is an exciting time and you are well on your way to reap the advantages of apartment ownership, such as:

<ul>
<li>Freedom and flexibility.</li>
	<li>Predictability and stability.</li>
	<li>Accumulating capital and equity.</li>
</ul>
A quick recap: you have picked your apartment out with Apartment Register, signed the contract of sale and paid your 10% deposit, and the construction of the development has commenced. Now what do I do? Depending on the size of the building, construction will take on average 18 months to two years before you can settle and move in or rent the apartment.

Over the course of the construction of your off the plan apartment, My Real Estate Mate will update you with photos and construction commentary from the builder and developer. It is a fascinating and rewarding time to watch one of your lifetime's largest purchases be built from the ground up.

The settlement process involves every person you interacted with when purchasing the apartment, to ensure the process runs smoothly. The following tasks are required to be completed:

<ol>
<li>Final inspection.</li>
	<li>Certificate of Occupancy.</li>
	<li>Settlement time and date confirmation.</li>
	<li>Valuation report.</li>
	<li>Statement of Adjustments.</li>
	<li>Transfer of funds.</li>
	<li>Registration of the title / transfer of land.</li>
	<li>Handover packet.</li>
</ol>
The handover packet will include your keys, appliance guarantees and other information, such as the appointed body corporate manager. The body corporate will require a number of apartment owners within the development to be on the committee which manages operational matters of the development. The body corporate manager will hold an annual general meeting, which you can attend to be kept up to date with items such as building maintenance.

Effective the day of settlement, Apartment Register recommends connecting all apartment services such as electricity and water and commencing insurances. You don’t want to move in in the dark! As a new owner, you will need to book the time and date to move in. This is to ensure a lift is allocated to ensure smooth, stress free day. Depending on the development move in schedule, you may only be allowed to move in on a weekday.

If you are an investor, you will need to appoint a rental agent. Apartment Register recommends interviewing local agents as they know the area and may have potential tenants ready to move in. You will need to sign a rental agreement with the agent, along with placing an advertisement on various real estate websites.

The rental agent will then hold open days throughout the week to gain interest and take apartment application forms from prospective tenants, who will have to provide information on their current employment status, referees and rental history. You as the vendor choose your tenant from the application pool and then enter into a tenancy agreement.

Your rental agent will provide you with regular apartment inspection reports to ensure the tenant is looking after the apartment, along with monthly or fortnightly financial statements.

My Real Estate Mate hopes you found our summer reading series useful and remember to be nice to your neighbour! Our previous articles in this series:

<ul>
<li><a href="/news/my-real-estate-mate-summer-reading-series-purchasing-off-the-plan-apartments">Purchasing off the plan apartments</a></li>
	<li><a href="/guides">Buying off the plan: the first move</a></li>
	<li><a href="/guides">Buying off the plan: the nitty gritty</a></li>
</ul>
Apartment Register is a value added service offering our clients first pick of apartments in new off the plan developments prior to public launch. Register here and we will be in contact with you straight away.

Cameron Clarke is licensed real estate agent and managing director of My Real Estate Mate and Apartment Register; a joint venture partner of Alamar AV Communications Pty Ltd, publisher of Apartments.com.au. Each Saturday over summer Cameron will provide provide commentary and tips on all things apartments.

Cameron's published commentary is not designed to be taken as financial advice and should you wish to register with Apartment Register, Apartments.com.au strongly recommends registrants consider their financial position and do their own research before entering into contracts for sale.
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cameron

My Real Estate Mate summer reading series: Buying off the plan - the finished product

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Calculator ready! In our third instalment of Apartment Register’s Summer Reading Series we will identify key investor considerations.

You will often hear the term ‘vacancy rate’ which is a calculation based on tenanted dwelling within an area and is used as a tool to determine rental demand. A 3% vacancy rate is the point at which a market is set to be evenly balance between landlords and renters, that is equilibrium.

Calculating an off the plan property rental yield by taking your property's purchase price, and the yearly rent (weekly rent times by 52). Divide the yearly rent by the purchase price and times the result by 100 to get yourself a percentage. This percentage is your gross rental yield. For example:

<ul>
<li>Purchase Price: $500,000</li>
	<li>Weekly Rent: $465</li>
	<li>Annual Rental Income: $24,180</li>
	<li>Calculation: $24,180 / $500,000 * 100</li>
	<li>Gross Rental Yield = 4.83%</li>
</ul>
In order to calculate the net rental return, you will need to subtract other associated expenses such as the annual body corporate fee.

The body corporate is an annual fee for the maintenance and insurance of all public areas of the building. This may be cleaning the public areas to maintaining the lifts and if the building has a swimming pool or gym, the cost to clean and manage these services.

New off the plan apartment developers will typically provide you with marketing collateral outlining the position and proximity to amenity, as well as independent research information including demographic and infrastructure data and analysis, that presents all the facts and figures to ensure a purchaser can make an informed decision.

Included in the information packet is a deprecation schedule. Inclusions in new off the plan apartments are able to be depreciated; indicative depreciation schedules are supplied by developers at the point of sale and a company such as BMT Quantity Surveyors can provide a depreciation schedule specifically for your apartment.

The Victorian Government offers a stamp duty concession when you purchase property off the plan. Effectively as a purchaser you pay duty on the improved value of the land, that is, the completed construction value including GST as at the contract date. As you are buying off the plan, in most cases construction will not yet have started at the date of contract, therefore the percentage saved by purchasing off the plan versus purchasing the same completed apartment is significant.

Inclusions, also referred to as fixtures and fittings, includes items such as the brand of kitchen oven to the type of benchtop, be it stone or stainless steel. There is no wrong or right appliance type or brand within an apartment, it will have been chosen by the interior decorator and architect to best reflect the apartment building brand and positioning.

When Purchasing a new off the plan apartment you will have to choose an internal colour preference - usually from two colour palates - and this will invriably come down to a choice of a light theme and a dark theme. The colour variations will often include the colour of the carpet or floorboards, kitchen bench and splash back to the bathroom wall tiling.

Ceiling heights will vary from some rooms: this is due to the air conditioning type, ventilation from kitchen and bathroom, all those pipes need to fit somewhere so it is just something to be aware of and is perfectly normal to see a variance in ceiling heights listed.

My Real Estate Mate always recommend you review the Contract of Sale and instruct your solicitor to do so also. Items we recommend to check include the inclusion list, and that the floor plan of the marketing material is the same as in the contract of sale. Also check the nomination clause, as you might purchase the apartment in your own name and when you settle may want to allocate the asset to your superannuation fund. You will need to sign three copies of the contract of sale: a copy will be for your record, the developer and solicitor. Make sure you keep it in a safe place for your records, your bank will also request a copy for settlement.

If you are an investor and searching for healthy rental yield and capital growth off the plan apartment opportunities, feel free to contact My Real Estate Mate through Apartment Register on Apartments.com.au and we will be in contact with you straight away.

Cameron Clarke is licensed real estate agent and managing director of My Real Estate Mate and Apartment Register; a joint venture partner of Alamar AV Communications Pty Ltd, publisher of Apartments.com.au. Each Saturday over summer Cameron will provide provide commentary and tips on all things apartments.

Cameron's published commentary is not designed to be taken as financial advice and should you wish to register with Apartment Register, Apartments.com.au strongly recommends registrants consider their financial position and do their own research before entering into contracts for sale.

Lead image courtesy Pixabay.
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My Real Estate Mate summer reading series: Buying off the plan: the nitty gritty

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The corporate watchdog has deregistered 440 self-managed super fund auditors who did not undertake or pass the competency exam necessary to be registered.
The move to have stricter controls over the industry comes as the <a href="https://www.smartcompany.com.au/finance/superannuation/31900-smsfs-continue-to-grow-reaching--22-billion">SMSF sector continues to gain popularity </a>in Australia.
The Australian Securities and Investments Commission said of the 440 auditors whose registration was cancelled, 373 did not attempt the exam and 67 did not pass the exam.
SMSF auditors, of which there are around 7,000 in Australia, are given up to two attempts to pass the competency exam.
ASIC said 1,421 auditors were required to sit the exam before July 1 this year, but the regulator extended the cut off to August 31, 2014.
Graeme Colley, director of technical and professional standards at the SMSF Professionals' Association of Australia, said the matter had been referred on to ASIC by the Australian Taxation Office after the ATO cross-checked the number of audits each auditor was declaring and undertaking.
Colley says auditors, many of whom would be accountants, had declared they only undertook a handful of audits a year to escape sitting the competency test, but the ATO figures had caught up with them.
“The ATO has crosschecked the actual with the theoretical,” says Colley.
“They’ve realised, wait a minute, these people are telling porkies. They haven’t done the test and they are not meeting the qualification requirements.”
Colley says many small accountants would have tried to avoid the exam out of fear or embarrassment.
“Would you want to go do an exam if you haven’t done one in ten years?” he says.
Colley says the move to cancel the registration is a positive outcome for the SMSF sector because it will make sure auditors adhere to the highest standard of education.
“It means those that are there now to look after self-managed super funds are making sure audits are done properly,” he says.
Deregistered auditors have 12 months to re-apply for registration and pass the competency exam in no more than two attempts.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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440 SMSF auditors deregistered after failing or not sitting the exam

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The unfulfilled dream of countless small business owners is to run an active business through their self-managed super fund (SMSF).
The typical driver is to pay tax at half the corporate rate or no tax once the super fund is in the pension phase.
During his 40-plus years advising SMSFs, Martin Murden has had at least one request a year from fund trustees for advice about whether they can operate a business, such as a corner shop, through a self-managed fund.
But Murden, a director of SMSF consulting and auditing with the Partners Wealth Group, says none of these trustees to his knowledge has gone ahead and operated a business through their SMSF after listening to his warnings.
While Murden says that the law does not, in theory, prohibit SMSFs from running active businesses, various superannuation and trust laws make it highly impractical.
Here are five questions that fund trustees should ask themselves before trying to setup an active business in their SMSFs:
<ol>
<li>
Will your fund still comply with the sole-purpose test if running a business? This is the biggest stumbling block to an SMSF operating an active business. Under the sole purpose test, a super fund must be maintained for the purpose of providing retirement or death benefits to members. Indeed, Stuart Jones, author of the Australian Superannuation Handbook 2014-15, published by Thomson Reuters, writes that the Tax Office, as self-managed super regulator, “generally considers” an SMSF is breaching the sole-purpose test if conducting a business. 
</li>
<li>
Does your SMSF trust deed allow the fund to operate an active business? An SMSF may not be permitted by trust law to carry out a business unless expressly empowered under its trust deed, Jones warns. 
</li>
<li>
Can your SMSF business operate without an overdraft? Murden says the strict limits on borrowing by an SMSF will prevent the fund having an overdraft. SMSF are prohibited from borrowing except in limited circumstances. An SMSF can borrow for up to 90 days to pay a member benefit or to cover the settlement of securities such as shares and bonds. (Such loans must not exceed 10% of a fund’s assets.) 
</li>
<li>
Will your SMSF business have to pay cash for its trading stock? An SMSF is prohibited from lending to members or relatives of members, Murden stresses. 
</li>
<li>
Will your SMSF business employ members or relatives of members? While superannuation law does not prohibit a fund from employing members and relatives, their employment may encourage the Tax Office, as SMSF regulator, to take a closer look.
</li>
</ol>
Jones says the regulator may look at the “stated rationale” for employing family members and at the level of income.
In regard to salaries paid to family members, Murden points to provisions in superannuation law requiring funds to conduct their affairs on an arm’s length, commercial basis.
An inflated salary paid to a family member would also be an issue under the sole-purpose test.
As Murden says, it is common for SME owners to own their business premises through their SMSFs. Business real estate is among the few types of assets that SMSFs are permitted to acquire from their members and other related parties.
And business real estate is one of the few types of assets that funds can lease to related parties – including fund members and their businesses – without a restriction on its value.
However, running an active business through an SMSF is much harder to achieve without breaching superannuation and trust laws.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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mlaurence-vhAHaLZT8y

Five questions you should ask before trying to run a business through an SMSF

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The odds of your self managed super fund getting an Auditor Contravention Report (ACR) are just 53 to one, according to information provided by Chris Hocking Strategies.
An ACR is a notice that super law has been contravened in your self managed superannuation fund (SMSF) and that they have been detected and reported to the Australian Tax Office (ATO).
With 11,000 ACRs issued in 2013/2014, Chris Hocking Strategies explains that the ATO has made it obvious that those trustees who identify and actively address the contraventions will be viewed more favourably, with each ACR assessed by the ATO as either low, medium or high risk.
Your accountant or financial adviser should be speaking to the ATO for you in these situations. If you need to speak to the ATO then do so when you have prepared yourself, they suggest.
Low risk: Will be dealt with by a letter or phone call to trustee within eight weeks of the ATO receiving the ACR from the auditor.
Medium risk: A phone call to the trustee is likely to discuss the contraventions.
High risk: The SMSF will likely receive a comprehensive or full audit to look for additional problems.
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jduke-EHk3XBmHkn

Odds of SMSFs getting a contravention report are 53 to one

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The Financial System Inquiry recommendations, which include limiting self managed superfunds’ investment in property, have been criticised by the Real Estate Institute of Australia (REIA) who remain unconvinced about the risks.
REIA chief executive Amanda Lynch said they welcome the release of the Inquiry as an opportunity to identify scope for concern, but see a number of recommendations that could burden home borrowers.
“REIA is not convinced that the risks associated with lending through self managed superannuation funds (SMSFs) warrant the recommendations to limit the scope for SMSFs to invest in property,” she said.
“While we have well-documented concerns around the inappropriate marketing of property as part of an SMSF, REIA would be concerned by any move to restrict the possibility for mum and dad investors to secure their retirement through a balanced portfolio which includes property.”
The submission made by the REIA in August to the interim report noted that it is the place of the Inquiry to report on integrity and risks to the financial systems.
At the time, they warned that proposals around prohibiting SMSFs from leveraging into property “could be seen as passing an assessment on what are suitable investments for individuals.”
“Further, it ignores the fact that lending to SMSFs is such a very small part of the financial system that it is inconceivable that it presents a risk to it, even with further growth,” the submitted.
They noted that borrowers already have a number of restrictions, including the use of the property, the arms-length relationship with tenancies, and annual auditor scrutiny.
“To impose a prohibition on borrowing by SMSFs would put a constraint on the maximising of the profits of those funds and thus limit retirement savings,” the submission noted.
In fact, they made these four recommendations instead:
<ol>
<li>That the risk weights for insured loans be reduced. 
</li>
<li>That the current arrangements regarding negative gearing remain unchanged. 
</li>
<li>That a data base be developed to reduce information asymmetries between lenders and borrowers. 
</li>
<li>That the current arrangements regarding leveraging by superannuation funds remain unchanged.</li>
</ol>
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The REIA’s four alternatives to restricting SMSF property investments

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The Federal Treasury's Murray Financial System Inquiry has recommended that self-managed superannuation funds be banned from borrowing to buy assets such as property and shares.
There is no indication the recommendation will be accepted, or how it may be implemented, but the spectre could see the current levels of SMSF property investors further elevated before any announcement in 2015 of changes or grandfathering of the current rules.
<div title="Page 118">
In implementing the recommendation, Murray says funds with existing borrowings should be permitted to maintain those borrowings.
Funds disposing of assets purchased via direct borrowing would be required to extinguish the associated debt at the same time.
<div title="Page 117">
<div>
<div>
Over the past five years, the amount of funds borrowed using LRBAs increased almost 18 times, from $497 million in June 2009 to $8.7 billion in June 2014.
The inquiry opted against imposing a maximum cap on fund assets that can be invested in a single asset other than cash or bonds, saying it would impose additional regulation, complexity and compliance costs on the superannuation system. 
</div>
</div>
</div>
David Murray, chairman of the Financial System Inquiry, said the panel recommended a removal of the exception to the general prohibition on direct borrowing for limited recourse borrowing arrangements by superannuation funds.
</div>
One reason for the recommendation was that it would fulfil the objective for superannuation to be a savings vehicle for retirement income, rather than a broader wealth management vehicle. 
“Restoring the original prohibition on direct borrowing by superannuation funds would preserve the strengths and benefits the superannuation system has delivered to individuals, the financial system and the economy and limit the risks to tax payers,” the report also said.
After borrowings within super funds have risen to $8.7 billion, the FSI noting the level of borrowing was relatively low, but could pose a risk to the financial system.
“Further growth in superannuation funds’ direct borrowing would, over time, increase risk in the financial system,” the report stated.
“Borrowing, even with LRBAs, magnifies the gains and losses from fluctuations in the prices of assets held in funds and increases the probability of large losses within a fund.”
The FSI recommended the government should remove section 67A of the SIS Act on a "prospective basis".
The report noted that lenders can charge higher interest rates given the higher risks associated with limited recourse lending, and often required personal guarantees from SMSF trustees.
There were 44 recommendations to the government from the inquiry, the first wide scale review of the financial system in 17 years. Treasurer Joe Hockey will respond next year.
Previous financial system inquiries, including the Campbell Report in 1981 and Wallis Report in 1997, were the catalysts for major economic reforms in Australia. The Campbell Report led to the floating of the Australian dollar and the deregulation of the financial sector.
The Wallis Inquiry led to streamlined financial services regulation, the creation of the Australian Prudential Regulation Authority (APRA), and the current form of the Australian Securities and Investments Commission (ASIC).
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jchancellor-FAypfDUnLy

SMSFs to rush further into property after borrowing ban looms following Murray Financial System Inquiry

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Suggestions that young and naïve investors are rushing to set up self-managed super funds have been debunked by figures from the Australian Taxation Office.
Graeme Colley, director of technical and professional standards at SMSF Professionals' Association of Australia (SPAA), told SmartCompany that despite an increase in <a href="https://www.smartcompany.com.au/finance/superannuation/35704-younger-generation-interest-in-smsf-on-the-rise">popularity with the younger generation</a>, the latest statistics show SMSFs are still very much the heartland of the wealthy and the mature.
“From what we see, it’s still the 50 plus category,” says Colley.
The September ATO figures show the greatest proportion of SMSFs are funds of between $200,000 and $2 million. The number of funds within this range has risen from 63.9% in 2009-10, to 65.7% in 2012-13.
In contrast, funds under $150,000 have been in a decline over this four-period from 20.5% to 17.2%.
Colley says there has been unfounded media speculation young people were rushing into setting up SMSFs.
“What the industry didn’t want to see happen was people brashly going into SMSFs without seeing if it was the right option for them. But we are not seeing that from these figures,” says Colley.
Colley says while the popularity of SMSFs is certainly on the increase, there has been a “steady as she goes” approach to SMSF investment.
“It’s more of a ‘look before you leap’ situation, we don’t want a runaway freight train,” he says.
Colley believes there has recently been a considerable focus given to the education and training of SMSF managers, in the wake of <a href="https://www.smartcompany.com.au/legal/politics/44700-fofa-changes-scrapped-by-senators-as-financial-planners-plead-for-certainty" target="_blank">changes to the financial planning industry.</a>
He says the ATO statistics also put to bed the myth that SMSFs with low balances have an "unhealthy" concentration of their assets in residential property.
“That doesn’t seem to be the case. Funds with property investment seem to be in the $300,000-$400,000 plus range. It is a common sense investment, rather than people with massive mortgages.”
"The notion that SMSFs are piling into residential property with their ears pinned back is simply not supported by the ATO figures,” says Colley.
The SPAA expects another 20,000 SMSF will be created in 2015.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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SMSFs still the heartland of the mature and wealthy 

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To this day, I have not seen any financial planner, accountant, or other financial specialists offer secondary stock to their SMSF client when their client is being referred to buy property.
What I have seen are many financial professionals moonlighting as real estate agents and offer new stock to their clients in droves.
My belief is that many are attracted by the extremely high commissions being offered, some as high as 6%-8% of the value of the property. A standard commission paid to an agency is on average 1.7% as reported earlier in the year.
Now if I read correctly, our own representatives from the REIA believe the lines are blurred on our side: “Our involvement with this inquiry was at the request of the committee, although the REIA has been pro-actively working to address community and industry concerns about the blurring lines between real estate agents and the provision of financial advice,”<a href="/guides/the-blurring-line-between-real-estate-agents-and-smsf-advice"> said the REIA</a>.
Property marketing companies may blur the line but they are not the majority of what I call the “real” real estate industry. I’m of the opinion that the lines are blurred on the side of financial planning (FP) and the finance sector and there should be tighter controls there, or at least be on-par with the onus placed on the real estate industry.
As real estate agents, we work under very close scrutiny by the authorities when it comes to offering any form of financial advice. In a nutshell, we can’t offer any financial advice. Even hints in our marketing of property by using such terms as 'great investment opportunity', 'great rental returns', 'awesome growth potential' and even 'investors dream' may get an agent into hot water.
However, many financial professionals moonlight as real estate agents. It appears that individuals in the financial sector and property marketing companies can state all of the above under their governance. They can also refer property without being holders of real estate licences. Ironic, unfair, unjust? however seemingly true. It’s a marketing fee, a referral fee that they get and not a commission. Semantics I know, yet a major loophole in the regulations that needs to be closed.
I have had many discussions with Tim McKibbin from the REINSW with respect to these issues over the years. I have been assured the REINSW is lobbying to have these issues resolved. Closing these loopholes couldn’t come soon enough. 
A lawyer friend of mine says: "If you don’t want to be fined and serve time, don’t have a licence and you have a better chance to keep under the legal radar." Wow, I guess these words echo very loudly in the halls of many financial institutions and property marketing companies pushing new property to SMSFs.
We also have the reversal, an agency<a href="https://www.smh.com.au/business/comment-and-analysis/shock-as-real-estate-franchise-enters-financial-planning-market-20140916-10hljo" target="_blank"> Ray White looking to move into the financial planning sector</a>. In my humble opinion, this move is a recipe for major disaster. However this is a path chosen by one group. If this is a means by the agency to get a piece of the action where very high commissions abound in the sale of new properties to SMSFs. If it is, all I can say is “watch this space” and good luck.
Some real estate agent will be tempted to flirt with massive fines and law suits as they step into a paddock where they believe the grass is greener. But I am one to believe most, if not all, that work in the space of “secondary stock” were “normal/standard” commission are paid will not be tempted to flirt with danger, nor have time to see if the grass is greener on the other side.   
Edwin Almeida is licensee in charge of <a href="https://www.just-thin.com.au" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for<a href="https://propertyinvestingvault.com/" target="_blank"> propertyinvestingvault.com</a>.
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ealmedia-arK4DBYLjS

When it comes to SMSFs, blurred lines favour financial planners not real estate agents

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Trustees of self-managed super funds (SMSFs) are increasingly putting their retirement savings in jeopardy by granting high-risk, high-interest loans to unrelated businesses in an effort to boost returns in a low-interest environment.
Chris Malkin, senior consultant auditor with Baumgartner Superannuation, suspects that many of the SMSF trustees granting these commercial loans do not understand the extra risks and legal complications involved.
“Some funds are effectively turning themselves into lenders of last resort,” Malkin says. “High-interest, high-risk loans are hardly appropriate investments for super funds.”
Typically when SMSFs strike difficulties with lending money, <a href="https://www.smartcompany.com.au/finance/superannuation/44336-risky-business-using-a-self-managed-super-fund-as-a-personal-bank" target="_blank">the loans have been made to related parties</a>. However, a recent Federal Court case highlights the potential extra risks for super funds when making high-interest loans to unrelated parties.
In the case of <a href="https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2014/2014fca1034" target="_blank">Pozzebon (Trustee) v Australian Gaming and Entertainment Ltd (in liquidation)</a>, a husband-and-wife SMSF agreed in December 2013 to grant a $250,000 secured loan to a Perth-based business, which had agreed to provide security over corporate assets. Five months later, the company went into voluntary liquidation.
The SMSF then claimed that the liquidated company owed the fund $348,713 – $98,713 higher than the amount of the initial loan.
However, the Federal Court ruled the SMSF was an unsecured creditor after finding the fund had not registered the “security interest” on the relatively new Personal Property Securities Register within the required time.
Stuart Jones, author of the Australian Superannuation Handbook 2014-15, says: “The Pozzebon case serves as a warning to SMSF trustees chasing a higher yield that commercial loan investments are intrinsically problematic for most trustees in terms of the skills required to assess and manage the additional risks in such loans.”
Martin Murden, a director of SMSF consulting and auditing with the Partners Wealth Group, says his annual auditing of SMSFs show more funds are granting high-interest commercial loans. And he expects this trend to grow during the current financial year.
Murden believes that most of the SMSFs being drawn into investing in high-interest, high-risk loans already hold a high proportion of their assets in fixed interest and have become dissatisfied with prevailing interest rates.
He says such SMSF trustees typically don’t want to invest in residential real estate because of their concerns about a property bubble yet find the share market too volatile.
Stuart Jones of Thomson Reuters says there is nothing under the Superannuation Industry (Supervision) Act (SIS) to prohibit an SMSF from investing in a loan to an unrelated borrower.
However, Jones says the loan would still need to comply with SIS investment rules including the sole-purpose test, trustee duties, arm’s length dealings and mandatory investment strategy. (Under the sole-purpose test, a super fund must be maintained for the purpose of providing retirement or death benefits to members.)
“The risks associated with a commercial loan would also need to be suitable as part of the fund’s written investment strategy,” Jones stresses. “Therefore, at minimum, a trustee considering an investment loan would need to establish a detailed risk-management plan for the life of the loan.”
Jones says if an SMSF trustee is going to “make loans like a bank”, it needs to assess the loan application and take security, ideally real estate, “like a bank”. This would typically require specialist and accounting advice to assess the loan investment and to ensure security for the loan or priority status among creditors in the event of a default.
This article first appeared on <a href="https://www.smartcompany.com.au" target="_blank">SmartCompany</a>.
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