For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

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?

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GUEST OBSERVATION
With <a href="https://www.dailytelegraph.com.au/news/nsw/badgerys-creek-airport-would-drive-growth-in-sydney-suburbs-pwc-australia-report-shows/story-fni0cx12-1226845273563" target="_blank">pressure mounting</a> to finally build Sydney’s second airport at Badgerys Creek, it’s a good time to ask: can we avoid the noise mistakes of the past?
Aircraft noise and whether the new airport would be open 24 hours a day – unlike the <a href="https://www.infrastructure.gov.au/aviation/environmental/curfews/SydneyAirport/SydneyCurfewBrief.aspx" target="_blank">11pm to 6am curfew</a> at <a href="https://www.sydneyairport.com.au/corporate/about-us/fact-sheets/overview.aspx" target="_blank">Sydney’s existing airport</a> – are <a href="https://www.parramattasun.com.au/story/2114940/badgerys-must-have-same-curfew-as-sydney-airport-mps/?cs=1497" target="_blank">still proving to be the main obstacles</a> to Badgerys Creek finally going ahead.
There are vital lessons for western Sydney residents, airport supporters and federal and state politicians to learn from the way Sydney’s third runway was developed, where many residents weren’t given the information they needed about how noise would affect them.
A short history of a long saga
Next year will mark the 30th anniversary of Badgerys Creek being initially selected as a new airport site. In 1993, the first sod on construction was officially turned at event with the then Federal Transport Minister Bob Collins.
But development stalled when a third runway was constructed at Sydney’s existing Kingsford Smith airport (which is best known as <a href="https://www.sydneyairport.com.au/" target="_blank">Sydney Airport</a>) in 1994 to meet growing aviation demand in the Sydney Basin.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/43053/area14mp/hd65z42h-1393906693.jpg" style="font-size: 0.8em;"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/43053/width237/hd65z42h-1393906693.jpg" style="display: block; margin-left: auto; margin-right: auto;"></a>
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/43053/area14mp/hd65z42h-1393906693.jpg" style="font-size: 0.8em;"></a>Just how noisy is it?
After the new runway opened, there was a massive and sustained angry reaction from the Sydney community. Residents believed that the runway’s Environmental Impact Statement (EIS) had been used to deliberately mislead them about what the noise would be like once the new runway opened.
The extreme public pressure resulted in a 1995 Senate Select Committee inquiry on aircraft noise in Sydney. The Committee largely accepted the thrust of the community’s objections and produced a damning report, <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/work/21668956?versionId=44646761" target="_blank">Falling on Deaf Ears</a>.
The Committee identified that the EIS process had a key failing: it had limited its noise assessment to residents living within the forecast aircraft noise contours. These contours indicate the amount of aircraft noise likely to be heard on the ground during an average day. In the EIS for the third runway, the area within the forecast aircraft noise contours was termed the “noise affected area”.
Not unreasonably, residents assumed that the areas outside “the noise affected area” would not be exposed to aircraft noise. So they were extremely surprised and angry once the runway opened to find themselves being overflown many times an hour throughout the day.
About 90% of the formal noise complaints lodged with aviation authorities after the runway opened came from people living outside “the noise affected area”.
Much of the public anger also arose because the way the aircraft noise impact was assessed was based on an “average day” – which had hidden what the noise would be like during peak periods or on busy days.
Clearing up confusion on aircraft noise
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/42718/area14mp/3bjcvgt2-1393557535.jpg" style="font-size: 0.8em;"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/42718/width237/3bjcvgt2-1393557535.jpg" style="display: block; margin-left: auto; margin-right: auto;"></a>These two maps illustrate how different Sydney suburbs can experience more or less noise from Sydney Airport. The top map shows the estimated number of noise events louder than 70 decibels on an ‘average’ day, while the one below shows how the aircraft noise shifts on days when the air traffic is in a northerly flow for more than 15 hours.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/42717/area14mp/2686jyj4-1393557425.jpg" style="font-size: 0.8em;"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/42717/width237/2686jyj4-1393557425.jpg" style="display: block; margin-left: auto; margin-right: auto;"></a>On coming to power, the Howard government immediately set up a process to enable the community to become engaged on finding ways to manage aircraft noise at Sydney Airport on a long-term basis.
These discussions led to the establishment of the Long Term Operating Plan for Sydney Airport, as well as the development of a range of <a href="https://www.infrastructure.gov.au/aviation/environmental/transparent_noise/expanding/index.aspx" target="_blank">new ways to describe aircraft noise</a>. That made it much easier for community members to meaningfully engage in discussions about how the airport’s aircraft noise could best be managed.
You have to look at aircraft noise in a number of different ways in order to get a proper indication of noise impacts.
One of those ways is to have maps of flight paths and how they are used. Another way is to create a “N70 contours” map, showing where the noise levels will be at 70 <a href="https://en.wikipedia.org/wiki/Decibel" target="_blank">decibels</a> or above. (Such as those shown on the right.) These indicate the number of overflights with a maximum level greater than 70 decibels.
Normal speech when talking to someone 1 metre away is approximately 60 decibels. So during an aircraft overflight of 70 decibels, if you were standing outside you would have to raise your voice.
However, if you are inside a house – even with the windows open – that aircraft noise is reduced down to about 60 decibels.
Involving western Sydney locals
If a new airport at Badgerys Creek is built mainly to take the load off Sydney Airport – as a supplementary airport, not a replacement one – it will have one very significant advantage.
There would be only a slow build-up of noise, as the traffic in and out of the airport gradually increased, rather than what happened when Sydney Airport’s third runway opened and there was a sudden, very dramatic change in aircraft noise exposure from opening day.
So how could the federal, state and local governments do a better job of making sure that locals at Badgerys Creek and surrounding areas don’t experience any noisy surprises?
The key to addressing the Sydney Airport noise problems was to engage much better with the community. What that experience clearly showed was that using concepts such as “noise affected areas” or “the average day” are now very likely to be seen by residents as attempts to understate aircraft noise.
Understandably, residents don’t just want to know what the noise might be like most of the time – they want to know how noisy it might get at different times of day, including during peak flight times.
If we want to do a better job of consulting western Sydney locals, the authorities need to <a href="https://www.wyle.com/PDFs/archive/southgateICAOreport.pdf">be inclusive</a>. That means not just talking to householders in the immediate area around Badgerys Creek, but going much further afield, to include any area which will be overflown and exposed to aircraft noise.
And that community engagement should not just be during the planning stages, but continue during the airport’s operation (assuming it eventually gets built).
Night-time noise
Discussions about noise at Badgerys Creek will inevitably also involve questions about sharing noise between the new airport and Sydney Airport.
In particular there could be issues around night?time noise. Given the strict curfew in Sydney now, any suggestion of night flights at Badgerys Creek is likely to be highly sensitive.
With that in mind, Badgerys Creek would need a Long Term Operating Plan with a clear noise management plan.
In Europe, major airports are legally required to develop <a href="https://www.heathrowairport.com/static/Heathrow_Noise/Downloads/PDF/NAP_main.pdf" target="_blank">Noise Action Plans</a>. Typically the plans lay out the major factors influencing noise exposure around an airport, including: the location of flight paths; the times of use of runways; and any restrictions on operations by different types of aircraft (by runway and/or by time of day).
Wherever a new airport is built in the Sydney region there will inevitably be people who feel aggrieved about aircraft noise. At the very least, governments owe local residents the opportunity to be involved in deciding the patterns of noise exposure around the airport.
Marion Burgess is president of the International Commission for Acoustics &amp; Research Officer at the University of New South Wales.
This article was co-authored by <a href="https://southgateaviation.wordpress.com/about/" target="_blank">David Southgate</a>, an aircraft noise specialist and former Australian Government representative on the United Nations International Civil Aviation Organization Committee on Aviation Environmental Protection.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>. 
                         <img src="https://counter.theconversation.edu.au/content/23641/count.gif" alt="The Conversation" width="1" height="1">
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mburgess-c8aGcHh3TX

Sydney’s second airport: local noise concerns must be heard

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According to the latest Local Development Performance Monitoring Report, the number of home builders using complying development to get faster and cheaper approvals is growing. But despite complying developments making up 25% of all housing approvals  in New South Wales last financial year, some are saying that the state's approval process is still unacceptably inefficient.
Housing approvals on using complying development take on average 17 days for councils to determine compared to an average of 68 days for regular development applications, according to the 2012-13 report, released this month.
The report also noted that complying development applications were up 12% from the previous year, with their total value up 35% on the previous year, at $3 billion. The new complying development process also appears to have increased overall housing application approval efficiency at NSW councils, with the average time taken by councils to determine regular development approvals down three days since its introduction.
NSW Planning and Infrastructure Minister Brad Hazzard has commented that the fast track process allows home builders to “take the hassle” out of planning.
“Home builders can save up $7,000 on the cost of building a new home and get their project ticked off extremely quickly if they meet the rules for complying development,” said Hazzard.
“The NSW government expects to see further increases in fast track development approvals as a result of recent expansions of complying development to include straightforward renovations such as building a garage door or putting in a foot path.”
But despite the increasing use of complying development applications, the NSW approvals process is still slow, says the Urban Development Institute of Australia NSW (UDIA). According to the UDIA, the approvals process in NSW is three times slower than that in Queensland.
According to UDIA chief executive Stephen Albin, NSW cannot compete with fast tracked development on a national level.
“Project delivery in this state is so choked up in outdated, inconsistent bureaucratic red tape - a symptom of a 33 year old planning act,” he said.
“NSW cannot compete on an even footing with other States when it comes to investment and job certainty in the property construction sector.
“The number of complying development applications in Queensland is at 80% with development applications generally approved far more efficiently than in NSW.”
While Albin said that the number of complying developments processed in NSW last year was a good start, the state still has a long way to go.
“Let me be clear, streamlined approvals do not provide a green light for all development but a more efficient way to manage the process,” he said.
“To get Code Assessable Development approved in NSW applicants have to meet more than 20 strict criteria including privacy, energy usage, landscaping and floor areas to name a few,” he said.
The Local Development Performance report also showed that the value of total developments approved in NSW was up 11% on the previous year, at almost $25 billion. However, overall development activity only increased marginally from the previous year, up 0.5% (74,875 approvals).
Almost all determinations were valued at less than $1 million, with Coolamon Shire, Ryde, Junee Shire and Brewarrina Shire the local government areas with the highest proportion of complying development applications.
<a href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
 
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jrichardson-uRX5hFdKfN

Fast track complying developments making up a quarter of housing approvals: NSW

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Located at 5a-9a Silver Street, St Peters, five newly developed townhouses are available for purchase from $1.45 million upwards.
The properties, of which three-bedroom homes are available from $1.45 million, and <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-st+peters-116200003">four bedrooms from $1.6 million</a>, have been developed by PNC and each come with 2.5 bathrooms.
The Torrens title terrace homes have a northerly aspect, and are said to be designed to maximise sunlight.
Blocks range from 201 to 294 square metres, with storage, gas cooking, SMEG appliances and open designs. Each also has a garden, air conditioning, security alarms, video intercoms and double security garaging.
Joint managing director NSW project marketing for Knight Frank, and exclusive marketing and sales agent, Noel Lucas-Martinez, said that the development is indicative of the gentrification and evolution of the area.
“Located only six kilometres to the CBD and in close proximity to parks, universities and train stations, the luxurious boutique development boasts flexible floor plans to provide for additional multipurpose rooms which are perfect for today’s varied living,” said Lucas-Martinez.
Local purchasers, downsizers, empty nesters, international investors and expats are all expected to show interest in the properties.
Internal size areas range from 159 to 245 square metres, with external areas of 119 to 184 square metres.
The site is located close to bus links, the Princes Highway and shops, including fast food outlets.
There are open for inspections for the next three weeks, with the first at 11am tomorrow.
The median house price in <a target="_blank" href="/news">St Peters</a> is $860,000, with the median unit price at $529,750, with median weekly asking rent on a house at $625, and $475 for a unit. This equates to a 3.8% and 4.7% yield respectively.
It appears St Peters, and Silver Street in particular, is fast undergoing development. Recently, the owner of 68 Silver Street put in a planning application to Marrickville Council to demolish the existing house, subdivide the property into two and then build a two-storey house on each allotment. There have been a significant number of applications around this area in the past three years.
The last inner west project undertaken by PNC was three years ago with a 10 terrace home complex, located at 2 Douglas Street, Stanmore, which sold around the $1 million mark, according to 2011 records.
<a target="_blank" href="https://mce_host/jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
                        
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jduke-EHk3XBmHkn

Streets of gold: Sydney's inner west sees new $1.45 million plus townhouse offerings

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Hi Margaret,
I am currently looking at purchasing an investment property in Sydney.  I am considering the purchase of an established one or two bedroom apartment in the inner west. Do you believe this is the right option and that the Sydney market will continue to have good capital growth? I hope I would not be buying at the peak of the property cycle in Sydney.
Also, can you have your investment property transaction account offset against a personal home loan and not the investment home loan? I presume that it is more advantageous to have this arrangement as the interest on the investment property is tax deductable, where my personal home loan interest is not?  I just want to ensure that I would not be breaking any tax rules by having this loan structure.
Thank you
Darren
Margaret's answer on next page. Please click below.
                        
<hr class="system-pagebreak">
Hi Darren,
Some experts are saying that the Sydney market will continue to boom during 2014, but I believe it will be headed for a distinct slowdown toward the middle of the year.  Even so, I truly believe the best Sydney buying opportunity is now behind you and it may be better to seek out an emerging market, like the mid-ring suburbs of Brisbane, and get in on the start of that boom.
When you refer to your ‘investment property transaction account’, I am going to assume you mean that you have a savings account set up, into which you pay money which covers your investment property expenses, which is also able to offset loan interest.  You can have this offsetting interest on any loan and the tax office does not prescribe where you choose to offset interest.  They can only prescribe which interest is deductible and they have made it clear how they feel about capitalising interest.
Having sad that, remember that you can have your rental income paid straight into your home loan (or home loan offset account) and as long as you meet the interest payment on your investment loans as and when it falls due, this is acceptable. 
Some accountants also say that you can redraw from an investment loan to meet investment property expenses such as rates and repairs, or keep a separate, smaller line of credit style loan which you use to pay investment property related expenses, ensuring you also pay its interest bill each month too.  I’d always seek a private ruling form the tax office before putting any of these unusual arrangements in place.
Regards,
Margaret
Margaret Lomas is a best-selling author and writes and hosts the popular 'Property Success With Margaret Lomas' and heads up the panel on 'Your Money, Your Call', both on Sky News.
She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
                                      
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mlomas-KC9MUPZ6Ca

Is it still a good time to buy in Sydney and how can I structure my personal and investment loans?

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<img alt="brisbane_march_6_on" src="/images/stories/2014/03/06/brisbane_march_6_on.jpg" height="436" width="470">
Artistic impression
An undeveloped site at <a target="_blank" href="https://www.realcommercial.com.au/property-land+development-qld-brisbane+city-501016895">550 Queen Street</a> (pictured above) in Brisbane’s CBD has been listed by owners Consolidated Properties Group. The 1,530 square metre site is being marketed by Seb Turnbull and Geoff McIntyre of JLL.
“With Development Approval for a 20,000 square metre commercial scheme in place, plus the residential market showing positive fundamentals, the buyer for this prime site in Brisbane’s CBD could come from either market sectors however there’s strong interest from residential development players,” said JLL’s Seb Turnbull.
There is existing development approval for a 20,000 square metre gross floor area tower on the site, which has three street frontages to Queen Street, Ann Street, and Clark Lane. Consolidated Properties previously had plans for a residential tower on the site, with a design by John Wardle Architects.
 
{yoogallery src=[images/stories/2014/03/06/her]}
<a href="https://rca.joneslanglasalle.com.au/property-hotel+leisure-qld-urangan-500504047" target="_blank">Fisherman’s Wharf Marina and Slipway </a>in Hervey Bay (pictured above) is being sold via expressions of interest by Jacob Swan of JLL and Lindsay Fallon of Ray White. The 4.78 hectares of leasehold land comprises 2.38 hectares above the high water mark, and 2.40 hectares below high water mark, with 136 marina berths. The property located in Urangan Boat Harbour, which the agents tout as the “whale watching capital of the world.” The site is an access point to the Great Sandy Strait and Fraser Island, and has a fully operational 200 tonne slipway and 40 tonne travel lift.
According to the listing, the marina and slipway had earnings before income tax of $433,000 for the 2013 financial year.
 
{yoogallery src=[images/stories/2014/03/06/wav]}
<a target="_blank" href="https://www.propertyobserver.com.au/retail/waverley-park-stadium-shops-on-the-market/2014012867386">Two shops are available</a> at Mirvac’s Waverley Park Stadium in Mulgrave, Victoria. The two shops, Stadium Fish and Chippery and Last Piece Café (pictured above), are being auctioned by Tom Noonan and Jeremy Gruzewski of <a target="_blank" href="https://www.colliers.com.au/Auctions/AuctionPortfolio/Current_Auction_Listings/VIC/Waverley_Park_Stadium_Mulgrave.aspx">Colliers International on March 19</a>. Stadium Fish and Chippery, at Shop One, is currently bringing in $23,920 per annum in rent, while Shop Seven is leased to the Last Piece Café, bringing in $91,936 per annum.  The stadium is currently the training ground for the Hawthorn Hawks.
 
{yoogallery src=[images/stories/2014/03/06/well]}
A mixed use building on <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/properties/310448" target="_blank">Swift Street in Wellington</a>, New South Wales (pictured above), is being marketed by Gary Francis of Raine &amp; Horne. Part of the building houses NAB, with the tenant contributing to 45.8% of the building’s outgoings. The other section of the two storey building is currently leased to residential tenants, but the listing notes that there is potential to convert the residential section to commercial space.
The building features marble fireplaces, ornate ceilings and tessellated tiles, along with contemporary bathrooms and kitchens. Raine &amp; Horne are accepting offers over $550,000, with a listed price of $580,000.
<a target="_blank" href="https://mce_host/jrichardson@propertyobserver.com.au"> jrichardson@propertyobserver.com.au</a>
                 
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Commercial roundup: Waverley Park shops up for auction as Brisbane CBD development site listed

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In what’s no surprise to Australians, Sydney and Melbourne have been ranked as two of the world’s 10 most expensive cities, with wine, cigarettes and petrol particularly expensive by global standards.
The Economist Intelligence Unit’s latest biannual Worldwide Cost of Living Survey ranked Sydney fifth and Melbourne in equal sixth on the list. Australian cities Perth, Brisbane and Adelaide ranked inside the top 40.
The most expensive city in the world was deemed to be Singapore, followed by Paris, Oslo and Zurich.
Rounding out the top 10 most expensive locations were Caracas, Geneva, Tokyo and Copenhagen.
“As well as Singapore there have been <a href="https://www.smartcompany.com.au/finance/investment/35572-residential-property-value-exceeds-5-trillion-with-sydney-the-most-expensive-city" target="_blank">sustained increases in the cost of living in Australian cities</a>, driven by the long-term appreciation of the Australian dollar,” the report says.
“As a result, Asian (and Australasian) locations made up one-half of the 10 most expensive cities last year.”
Over the past decade the Singaporean dollar has risen by 40%, which along with solid price inflation has resulted in Singapore moving steadily up the rankings, from 18th a decade ago to first.
“The city also has some structurally expensive items that skew the overall cost of living upwards. For example, car costs have very high related certificate of entitlement fees attached to them, which makes Singapore significantly more expensive than any other location when it comes to running a car,” the report says.
And while Melburnians frequently complain about the cost of transport, spare a thought for the Singaporeans whose transport costs are three times that of New York. It’s also the most expensive place in the world to buy clothes, with an abundance of luxury and European brands.
The survey of 140 cities assesses the cost of more than 160 products and services including drink, clothing, household supplies, rent, transport and utility costs.
While New York is used as the benchmark city for comparisons, its cost of living has only increased slightly this year, with the Big Apple moving into 26th overall.
“This is partly reflected by the stronger performance of cities around New York in the ranking, with European cities in particular buoyed by an appreciation of the euro over the last twelve months,” the report says.
On the opposite end of the spectrum, the world’s least expensive city was found to be Mumbai.
While Asia is responsible for some of the world’s most expensive cities, it’s also home to the cheapest.
“Within Asia the best value for money is in the Indian subcontinent (defined as India, Pakistan, Bangladesh, Nepal and Sri Lanka),” the report says.
“Mumbai is the cheapest location in the survey and three of the four cheapest cities surveyed hail from Pakistan, India and Nepal. These cities are only joined by Damascus because of the unfolding crisis in Syria and its impact on exchange rates.”
Karachi and New Delhi rank second and third on the cheapest cities list, while Damascus comes in fourth and Kathmandu also makes the top five.
Also included in the bottom 10 cities are Algiers, Bucharest, Panama City, Jeddah and Riyadh.
These locations might be cheap, but they’re not cheerful. The chances are even people looking for a cheap holiday won’t consider travelling to many of these cities, as most are known for their security issues and civil unrest.
The 10 most expensive cities (four cities have been ranked equal sixth most expensive):
1. Singapore
2. Paris, France
3. Oslo, Norway
4. Zurich, Switzerland
5. Sydney, Australia
6. Caracas, Venezuela
6. Geneva, Switzerland
6. Melbourne, Australia
6. Tokyo, Japan
10. Copenhagen, Denmark
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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yredrup-o4Anfe78KF

Sydney and Melbourne in 10 most expensive cities, but Singapore tops the list

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Furniture retailer Homeland Furniture is expanding its business into the Lower Hunter region of New South Wales after signing a lease at the Sentinel Property Group's Hunter Supa Centre at Rutherford.
The retailer has secured 785 square metres of retail space at the centre on a five year lease with a further five year option, at a gross annual rental of $145,225 a year.
The Hunter Supa Centre, at 343 New England Highway, Rutherford, is on a 50,690 square metre site which features three separate buildings with a total lettable area of 19,768 square metres plus 438 parking bays.
The Brisbane-based Sentinel acquired the centre in May 2013.
More than 85% of the centre is underpinned by national tenants, including Fantastic Furniture, Petbarn, Betta Electrical, Loot Homewares, The Outdoor Furniture Specialists, Bubs Baby Shops, Plush, Genesis Fitness and Repco.
<a href="mailto:news@propertyobserver.com.au" target="_blank"></a><a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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kjiminez-eaYKfU7qd2

Homeland Furniture secure Hunter Supa Centre, Rutherford lease

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AMP Capital Wholesale Office Fund has taken full control of NAB house in Sydney's CBD announcing today it has acquired the remaining 25% interest in the A-grade building.
Developed by AMP Capital, 255 George Street has been the Sydney headquarters for National Australia Bank since its completion and NAB remains the building’s anchor tenant today.
AMP Capital Wholesale Office Fund Manager Nick McGrath said the acquisition further strengthens the AWOF portfolio.
In recent years, the owners have invested over $50 million in a transformational upgrade of the asset, setting a new standard of sustainability for existing buildings in the CBD. The building today boasts a 5-star NABERS rating.
“As full owner of the building, we believe we can continue to extract value from this prime asset for investors over the long-term”, McGrath said.  
AWOF is an open-ended unlisted trust investing in high-quality office buildings in Australia and New Zealand. As of 31 December, 2013, its assets stood at $2.9 billion.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
                  
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AMP Capital take full control of NAB House in Sydney

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Prolific developers Crown Group’s Sydney by Crown is a $250 million residential offering in the heart of Sydney CBD and appears to be bringing a bit of Melbourne to the New South Wales capital.
A pedestrian-only laneway, something common in Melbourne’s city centre, is going to be created by Crown Group to connect Skittle Lane off King Street into a T-shaped area, to be home to 11 new cafes, restaurants and fashion retail outlets. The laneway will be publicly accessible and will link Kent Street with Clarence Street as part of <a href="https://www.sydneybycrown.com.au/" target="_blank">Sydney by Crown</a>.
The 25-storey tower will have a curved steel roof feature, <a href="https://www.propertyobserver.com.au/developments/koichi-takada-designs-new-sydney-cbd-development-by-crown-group/2013072363512" target="_blank">designed by renowned Koichi Takada Architects</a>, who have worked with Crown Group on <a href="https://www.propertyobserver.com.au/new-south-wales/skye-by-crown-set-to-become-north-sydney-icon-skye-crown/2013052361500" target="_blank">Skye by Crown in North Sydney</a>.
<img alt="crownjuly24" src="/images/stories/2014/03/05/crownjuly24.jpg" height="517" width="470">
Crown by Sydney artistic impression
Heritage influenced archways on the lower levels will transition upwards into modern glass and steel. There will be 220 apartments in total, including five star serviced apartments to bring in foreign visitors. The apartments and penthouses will be one-, two- and three-bedroom offerings.
CEO of Crown Group Iwan Sunito said that they wanted to reflect the global-nature of Sydney, bringing corporations, brands, designs and people from across the world together.
“Although still a relatively young city by global standards, Sydney is capturing the attention of the world, taking its place among cities like New York, Tokyo and London,” said Sunito. “Sydney by Crown will be unlike anything Sydney has seen before,” he said.
The ground floor will be a retail precinct, leading through to the laneway. Sunito expects it to become a symbol of history and future for the City of Sydney. “We hope Sydneysiders will find the new laneway to be a lively intersection and public meeting place between three active city streets - Clarence, Kent and King Street,” he said. “The podium building blocks, create a sequence of vertical voids, a seven-storey opening to the through-site link and a central nine-storey atrium, which allow natural light to reach the centre of the site.“
Expected to have a gross realisation value for the project of $250 million, Crown Group plans to launch more than $1 billion in total of projects through Sydney CBD, Green Square and Waterloo.
Expressions of interest are giving price reference options from $400,000 to $2 million plus.
According to Shirley Fitzgerald, a Sydney historian, Skittle Lane was given the name due to it being the meeting place for soldiers where there was a skittle ground in 1879. It’s highly likely Crown Group has worked closely with the City of Sydney council in this instance, particularly as the <a href="https://cdn.sydney2030.com.au/documents/2030-Vision-Complete.pdf" target="_blank">2030 Vision for ‘Sustainable Sydney’ includes reference to plans to rejuvenate the laneways around the CBD</a>.
“Laneways and under-utilised areas will be activated with bars and cultural-activities,” the vision explains.
It will be close to bus routes, Wynyard train station and a wharf. Construction is expected to commence mid-2014.
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/">Investor Showcase</a>.
                          
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Crown Group’s new development to “be unlike anything Sydney has seen before”

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A NSW-based retailer of bathroom and kitchen products, with $17 million in turnover is up for sale, following the appointment of voluntary administrators.
The company, trading as Renovation Boys, registered for voluntary <a target="_blank" href="https://www.smartcompany.com.au/growth/economy/33222-king-of-knives-retail-chain-with-60-stores-collapses-into-administration-after-25-years-in-business">administration</a> on February 25, with administrators Vaughan Neil Strawbridge and Jason M Tracy from Deloitte Touche Tohmatsu appointed.
It stopped trading on March 1 and its financial position is under review. Renovation Boys has stock of around $1.3 million, with the future of its 43 full-time staff and seven casual staff uncertain.
Deloitte restructuring services partner Jason Tracy told SmartCompany some employees have been stood down as a result of the store closures.
“We understand this is a difficult time for employees and we are keeping them updated on developments,” he says.
The business retails bathroom, kitchen and laundry fittings from two leased premises in NSW – one in Camperdown and the other in North Parramatta, with adjoining warehouses. It also has showrooms, IT platforms and fit-outs.
Tracy says a full review of the company’s financial position and operations is underway.
“To conduct an assessment of the available stock situation and reconcile this with customer payments and orders made before our appointment, we were required to close the business to further trading effective March 1,” he says.
“There will be no further sales or deliveries until the administrators have a better understanding of the stock situation.
“To resolve this uncertainty around stock and customer orders, we are seeking Court directions on a number of matters on March 5. As soon as a judgment is released, and hopefully later this week, we will advise customers of next steps.”
Tracy was unable to provide specific numbers of customers affected by the appointment and store closures, however suggests customers who have paid deposits for goods by credit card may wish to contact their credit card company.
“We are also seeking expressions of interest in the sale of the business.”
The first meeting for creditors is due to be held on March 6 at the Deloitte offices in Parramatta.
The website for Renovation Boys is currently not operating.
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany</a>.
           
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