Gold Coast-based developer <a href="https://www.apartments.com.au/developers/ignite-projects">Ignite Projects</a> has lodged a Development Application for a landmark $120 million precinct set to transform the southern gateway of the much-loved Spit.

Positioned at the most prominent entry point to the iconic peninsula, the project has been designed with a strong focus on architecture, public space, heritage and connectivity, delivering a revitalised parkland setting that invites locals and visitors to engage with the Broadwater.

Central to The Isles proposal is a significantly upgraded public realm, including landscaped open space, a new waterfront café, and a family-friendly park featuring a naval-themed playground, open lawns and improved pedestrian connections.

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="de83a270-6091-4b26-bed0-86f9248e7f9e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%201.jpg?VersionId=vt79HlCOwV9F7eLQe9.Z3bv9JGLMaSP2" />

The design retains and celebrates key elements of the site’s history. The training mast from the vacant and degraded naval cadet building, which forms part of a former Navy minesweeper, will be preserved. The existing Navy Memorial will be relocated and upgraded in collaboration with the RSL, allowing it to be publicly accessible for the first time in years. 
&nbsp; 
Heritage-listed Humphreys Boat Shed remnants will remain and be incorporated into the landscape, while the site’s established Norfolk Pines will be retained, reinforcing the area’s character and sense of place. The enhanced parkland will ultimately create a long-term community asset at the entry to The Spit. 
&nbsp; 
The Development Application (DA) lodged with Gold Coast City Council includes 28 waterfront apartments across three levels, ranging in size from 145sqm to 383sqm, designed as a feature landmark within the precinct and complement the public domain.

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="bbf94e00-b56a-47fb-a15d-3d17b0b1ec76" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%203.jpg?VersionId=A0vmBNE_KohYJo1EoZcmF5IVW4tT5aDo" /> 
&nbsp; 
Ignite Projects Director Josh Foote said the project as a whole had been carefully shaped to deliver a meaningful outcome for the wider community, not just future residents. 
&nbsp; 
“This is about more than delivering opulent apartments – it’s about creating a welcoming and memorable gateway to The Spit that people can enjoy every day,” Mr Foote said. 
&nbsp; 
“We’ve worked hard to ensure the public realm is a central part of the project, from the landscaped parklands and family-friendly spaces through to the preservation and celebration of important local heritage.”

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="443bbde5-8221-45f8-a549-dad2623df20c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%204.jpg?VersionId=iUl6nc.sHkjMdo_1RigwbwUz_celHJ3H" /> 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, The Isles adopts a considered subtropical approach, with the building form shaped to maximise natural light, cross ventilation and views to the Broadwater and surrounding parklands. 
&nbsp; 
Architect Rafael Contreras said the design responded directly to its unique coastal setting. 
&nbsp; 
“Rather than a typical built form, the architecture has been shaped by performance and experience – from optimising outlook and privacy to creating a strong connection to landscape and climate,” Mr Contreras said. 
&nbsp; 
“A central landscaped courtyard allows light, air and greenery to permeate the building, while the articulated façade introduces movement and rhythm inspired by the Broadwater.

“The Isles will create a place where people can gather, relax and connect with the water, while also delivering a refined residential product that responds to its unique setting.”

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="1089570d-1120-4302-9900-fb9f75c75c26" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%205.jpg?VersionId=pl9qmKZNbaL3A7XjmD7sjhLwmXaqzzLZ" /> 
&nbsp; 
The DA relates to the residential and public realm components, with a proposed boutique marina to be progressed as part of a future stage, subject to separate approvals. 
&nbsp; 
The Isles is being delivered under The Spit Master Plan, a collaborative vision to create a new residential, tourism, leisure, natural environment and cultural heritage hub on the iconic and much-loved peninsula.&nbsp; 
&nbsp; 
Ignite Projects has an established track record delivering premium residential projects across the Gold Coast, including The Monaco at Main Beach and Cabana at Palm Beach. 
&nbsp; 
Sales for The Isles are expected to commence in coming months from an on-site display suite, with construction targeted to begin later this year, subject to approvals.

Joel Robinson

Ignite Projects unveils exciting details of landmark gateway precinct for the Spit

The Federal Government’s sweeping changes to negative gearing and capital gains tax could trigger an unintended consequence: a surge of investor demand into the new and off the plan apartment sector.

While Treasurer Jim Chalmers has framed the reforms as a way to improve housing affordability and rebalance the tax system, the carve-outs for newly built housing are already positioning off the plan apartments as one of the few remaining tax-effective property investment plays.

Under the changes handed down in the Federal Budget, investors purchasing established properties after budget night will no longer be able to access negative gearing benefits. The Government will also replace the long-standing 50 per cent capital gains tax discount with a new inflation-indexation model and introduce a minimum 30 per cent tax on gains from July 2027.

However, there is a major exemption.

Investors buying new builds, including off the plan apartments, will still be eligible for negative gearing and will be able to choose between retaining the current 50 per cent CGT discount or adopting the new indexed model.

That distinction is expected to reshape investor behaviour almost immediately.

For years, established housing has dominated investor purchases because of its perceived lower risk, immediate rental returns and stronger historical capital growth. But with the tax advantages now heavily skewed toward new housing supply, the economics are changing rapidly.

The Federal Government has been explicit about its intent.

“The housing market and tax system are broken,” Chalmers said ahead of the Budget, arguing that existing concessions were disproportionately rewarding speculation rather than supporting housing supply.

The Government says the reforms are designed to encourage investment into new housing rather than established stock, a move aimed at increasing supply during a prolonged housing shortage.

According to the official Budget papers, limiting negative gearing to newly built homes is intended to “better align tax incentives with housing supply objectives.”

For the apartment development sector, particularly the off the plan market, the changes could become one of the strongest investor tailwinds in years.

Developers across Sydney, Melbourne and Brisbane have spent the past two years battling elevated construction costs, higher interest rates and subdued investor confidence. Many projects have struggled to secure sufficient pre-sales to commence construction, particularly in markets heavily reliant on investor demand.

The Budget changes may now alter that equation.

Investors seeking tax-effective property exposure will increasingly find themselves funnelled toward newly built apartments simply because established dwellings no longer offer the same benefits.

Commonwealth Bank described the reforms as one of the most significant shifts to residential property investment settings in decades, noting that the package is centred around “limiting negative gearing for residential property to new builds” while replacing the existing CGT framework.

That could have profound implications for the apartment sector.

Off the plan apartments already hold several advantages for investors. Purchasers typically secure a property at today’s price while settlement occurs years later, allowing time for capital growth and reducing the upfront capital burden. Brand-new apartments also generally attract depreciation benefits, lower maintenance costs, and stronger appeal to renters seeking modern amenity.

Now, they may also become one of the only residential property types still offering the full suite of historical tax advantages.

Industry analysts expect investor demand to increasingly migrate toward projects that can clearly demonstrate strong rental demand, transport connectivity and long-term supply constraints.

The shift is likely to be particularly pronounced in apartment markets already underpinned by structural undersupply, including inner Brisbane, the Gold Coast, parts of Sydney’s Lower North Shore and select Melbourne precincts where new apartment commencements have collapsed over recent years.

The reforms also arrive at a time when apartment supply nationally remains critically constrained.

Australia is already struggling to meet the Federal Government’s target of delivering 1.2 million new homes over five years. Construction feasibility pressures have delayed or shelved thousands of apartments across the country, particularly as building costs remain elevated and financing conditions remain tight.

Critics of the Budget changes argue the reforms could reduce overall investor participation in the housing market and place upward pressure on rents by discouraging investment in established housing.

Some economists estimate the measures could reduce housing supply over the longer term if overall investor appetite weakens.

However, the Government is betting that redirecting investor capital into new housing supply will offset those concerns.

“To continue to incentivise construction of new housing, investors building new residential properties will be able to choose either the 50 per cent CGT discount or the new arrangements,” the Budget papers stated.

That wording has been closely watched by the development industry because it effectively positions new apartments as the preferred investment class within residential property.

For off the plan developers, the reforms could become a powerful sales tool.

Projects that have increasingly relied on owner-occupier demand may once again attract investors seeking to preserve the tax advantages still attached to newly built housing before the July 2027 changes take effect.

The reforms are also expected to sharpen the divide between established and new housing markets.

Rather than a broad investor retreat from property altogether, many analysts expect a redistribution of capital toward sectors still supported by Government incentives.

That could create stronger demand for apartment projects in key urban growth corridors and transit-oriented precincts where population growth, migration and rental shortages remain elevated.

The policy direction also aligns with the Government’s broader push toward increasing housing density in established urban areas.

Across Sydney, Brisbane and Melbourne, planning reforms are increasingly encouraging higher-density apartment development around transport infrastructure and activity centres. By maintaining tax incentives for new housing, the Federal Government is effectively reinforcing that agenda from a taxation perspective.

For apartment developers who have spent years navigating subdued investor confidence, the changes may ultimately become the catalyst that reactivates parts of the off the plan market.

While the broader property sector is still digesting the long-term implications of the Budget, one thing is already becoming clear.

The era of investors buying established apartments and houses primarily for tax advantages may be ending.

But for off the plan apartments, the investment story may just be beginning.

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Investors to flood off the plan apartment market?

Adding to Chatswood’s growing skyline, <a href="https://www.apartments.com.au/new-apartments/the-anderson-chatswood-54-56-anderson-street-chatswood-nsw-2067">The Anderson</a> is grounded in a simple principle: apartment living in a major centre does not have to come at the expense of space and outlook.

Set on Anderson Street in the heart of <a href="https://www.apartments.com.au/developments/chatswood-nsw-2067">Chatswood</a>, the new residential tower, a collaboration between developers <a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a> and <a href="https://www.apartments.com.au/developers/huirong-group">Huirong Group</a> with architecture and interiors by <a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>, will introduce 122 apartments that prioritise generous proportions, considered orientation, and a strong connection to the surrounding heritage precinct.

The design originated from a Design Excellence Competition, where AJC proposed a building that combines suburban-style apartment scale with the density expected in a transport-rich centre. The development will include more than 1,800 square metres of retail and commercial space at street level, landscaped communal roof terraces, and a ground-floor pocket park framed by canopy trees. Together these elements aim to create a building that integrates with Chatswood’s evolving streetscape while maintaining a strong residential focus.

[smartcode_project:default project_id=151353 project_image_fid=353250]

A key driver behind the architecture was the desire to deliver family-sized apartments rarely seen in the Chatswood market. The Anderson includes a mix of one to four-bedroom apartments, with around 35 per cent of the residences configured as three or four-bedroom homes. At the top of the building, two double-storey penthouses span approximately 200 square metres each, reinforcing the project’s emphasis on scale and long-term liveability for both downsizers and intergenerational households.

Orientation and outlook were central to the planning of the building. The apartments are positioned to maximise views to the north and east across Chatswood’s heritage precinct, with upper levels capturing glimpses of the Pacific Ocean. South-facing apartments gain distant views toward the Sydney CBD and Harbour Bridge, while the building’s configuration intentionally reduces western exposure at lower levels to minimise overlooking toward the nearby railway corridor.

The external design references the character of the surrounding conservation area without replicating it directly. A brick podium anchors the building to the street and introduces a series of architectural portals that draw inspiration from the nearby Chatswood Presbyterian Church. Above this base, the tower shifts to a lighter, more open expression defined by horizontal lines and carefully detailed balconies that balance privacy with outward views.

[smartcode_project:default project_id=151353 project_image_fid=353254]

Toward the top of the tower, AJC introduces a distinctive lantern-like element formed by sliding screens. These screens provide both solar shading and privacy while also creating a visual marker for the building within the Chatswood skyline. The feature reinforces the architectural intent of the project, a structure that is visually refined while still responding to the practical requirements of apartment living.

Inside the residences, interior architecture focuses on clear spatial flow and practical everyday use. Open-plan living areas connect directly to large balconies, extending the internal living spaces outward and allowing natural light to move deeper into the apartments. Kitchens are designed as central working spaces with premium appliances and carefully selected materials, positioned to serve both daily living and entertaining.

[smartcode_project:default project_id=151353 project_image_fid=353256]

Bathrooms follow a similarly restrained design language, using refined fixtures and materials to create calm, functional spaces, while wardrobe areas adopt a gallery-style layout with integrated lighting and generous storage. These elements reflect a broader design approach that prioritises clarity, functionality, and durability over decorative gestures.

Positioned just a short walk from Chatswood Interchange, residents will have direct access to rail, metro, retail, and dining. The Metro extension allows travel from Chatswood to Martin Place in approximately 11 minutes, placing the CBD within easy reach for residents while maintaining the convenience of a walkable North Shore neighbourhood.

One-bedroom apartments at The Anderson start from $1,022,000.

[smartcode_project_cta:default project_id=151353]

How AJC designed The Anderson to bring oversized apartment living to Chatswood

<a href="https://www.apartments.com.au/developers/bridgewell-development">Bridgewell Capital</a> has lodged plans for a major mixed-use apartment development in the heart of Maroubra, seeking a significant uplift in height and density controls to deliver 120 apartments and a 120-place childcare centre near Maroubra Junction.

The State Significant Development application, filed through the NSW Government’s Housing Delivery Authority pathway, covers a 3,270 sqm amalgamated site at 251-257 Maroubra Road and 133-135 Garden Street. The proposal includes a concurrent rezoning that would increase the maximum building height from 12 metres to 35.6 metres and lift the floor space ratio to 4.02:1.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the project would replace a mechanic’s workshop and several detached homes with a 10-storey residential building above four basement levels.

The scheme comprises 120 apartments, including 27 affordable housing units to be managed by a community housing provider for 15 years, alongside 203 basement car spaces and 92 bicycle spaces. A childcare centre occupying nearly 900 sqm of floor area would sit at ground level and be capable of accommodating 120 children and 22 staff.

<img alt="First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre" data-entity-type="file" data-entity-uuid="038a0639-f9e4-4303-8fcc-d43e73fa480f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bridgewell%20pers.png?VersionId=eGBElxmNqJW.YF3JFYgHTnPgAstdyXR3" />

According to the Design Report, the project has been conceived as a “gateway proposal” that responds to Maroubra’s evolving urban character and its proximity to the town centre.

“Designed to complement the character of Maroubra’s town centre, this gateway proposal features a building scale that matches its surroundings,” the report stated.

“It integrates residential units above a ground-level childcare centre, fulfilling the strategic objectives of the Randwick City Council Masterplan.”

The apartment mix is weighted toward larger residences aimed at families and downsizers, reflecting changing demographics in the Randwick LGA and increasing demand for medium-density housing close to transport and amenity.

BKA Architecture said the proposal seeks to reinforce Maroubra Road as a civic spine while improving the pedestrian experience around the site through landscaping and upgraded public interfaces.

“The design capitalises on the following site opportunities: reinforcement of Maroubra Road as a civic spine, enhancement of pedestrian pathways and the public interface via new landscaping, and strong market demand for two and three-bedroom apartments to support families and down-sizers,” the Design Report noted.

<img alt="First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre" data-entity-type="file" data-entity-uuid="ee509779-3c7e-4918-b03d-761c785459d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bridgewell%20site.png?VersionId=eZC4Ruyn.C7O.Qwfr1SVeP5.ds1c5.66" />

The building has been designed with setbacks and articulation intended to transition between the commercial intensity of Maroubra Junction and the surrounding lower-scale residential neighbourhoods. Communal open space is proposed on level one, while upper-level apartments would secure views towards Port Botany, Maroubra Beach and Sydney’s eastern suburbs.

The development sits around 200 metres east of the Maroubra Junction intersection of Anzac Parade and Maroubra Road, within one of Randwick’s identified strategic centres. The site is close to Pacific Square Shopping Centre, major bus routes, schools, parks and future cycling infrastructure proposed under the Maroubra Junction Masterplan.

The Maroubra proposal aligns with broader NSW Government initiatives encouraging higher-density housing near established centres and transport corridors, particularly where affordable housing is incorporated.

Bridgewell is also working on a <a href="https://www.apartments.com.au/news/qld/goldfields-sets-the-stage-as-quartet-milton-launches">new 55-unit project in Killara</a>.

First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre

National diversified developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has launched its latest Brisbane apartment project, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet Milton</a>, marking its entry into the sought-after inner-city suburb just two kilometres from the CBD.

The circa $100 million development will rise 18 storeys and deliver 131 apartments, offering a mix of one, two-, and three-bedroom residences.

Ideally located on Manning Street, Quartet residents will be within 300 metres of Milton Station, 500 metres from the Milton Ferry Wharf, and a short walk to Milton Markets, the iconic Park Road, as well as a range of breweries and cafés.

[smartcode_project:default project_id=108736 project_image_fid=367993]

Designed by architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, the building features a simple, gridded façade paired with generous glazing to enhance views, maximise aspect, and capture both sunrises and sunsets from within the apartments and their generously sized balconies.

Residents will have access to a 1,000 sqm rooftop, curated to balance wellness and entertaining, in response to increasing demand for wellness-focused shared spaces.

"We've approached Quartet Milton as a complete lifestyle offering, not just apartments, but a place where the design, amenities, and location all work together in a meaningful way," says Goldfields Managing Director Lachlan Thompson.

"Buyers are looking for that sense of confidence, knowing the vision has been carefully thought through not just by us as developers, but by all our consultants appointed to bring this together, and that it will be delivered to the standard they expect."

[smartcode_project:default project_id=108736 project_image_fid=368000]

Cera Stribley Co-Founder and Managing Principal Domenic Cerantonio said the rooftop is designed to feel like a place "you'd genuinely use every day."

"A 25-metre pool framed by city and mountain views, wellness areas, and private dining spaces for evenings with friends create a setting designed for year-round comfort and effortless Brisbane living."

[smartcode_project:default project_id=108736 project_image_fid=367999]

In addition to the 25-metre pool, the rooftop will include a sauna, cold plunge, fully equipped gym, and zen gardens, all complemented by panoramic views of the city and river.

While the building is expected to appeal predominantly to owner-occupiers, Goldfields anticipates interest from investors seeking strong rental returns, driven by the project's design, location, and the city's projected capital growth in the lead-up to the 2032 Brisbane Olympics.

[smartcode_project:default project_id=108736 project_image_fid=367991]

<a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>, widely regarded as one of Brisbane's most desirable inner-ring suburbs due to its lifestyle offering and proximity to the CBD, has experienced a shortage of new apartment supply in recent years.

Goldfields is already active in the Brisbane residential market through its Ripley Valley masterplanned community, Hayfield. The 109-hectare neighbourhood is already home to more than 300 families and features a large community park.

Plans for the precinct include a 4 km running track, future schools, and retail and commercial amenities, all within a 35-minute drive of the Brisbane CBD.

Goldfields also plans to deliver a new mixed-use tower at 88 Robertson Street in Fortitude Valley, within the James Street precinct. The project will include 16,000 sqm of boutique commercial space, a level of wellness facilities, and a rooftop restaurant and event space, akin to Goldfields House in South Yarra, its flagship mixed-use development on Chapel Street, which is crowned by the Beverly Rooftop bar, one of Melbourne’s best-known venues.

[smartcode_project_cta:default project_id=108736]

Goldfields sets the stage as Quartet Milton launches

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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We recently looked at the <a href="https://www.propertyobserver.com.au/victoria/five-of-the-most-beautiful-homes-currently-on-the-market-in-victoria/2013112766650?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=topstories" target="_blank">five most beautiful properties on the market in Victoria</a>, and promised to get to the other states and territories in subsequent weeks.
Here we looked for the five homes, be they apartments or houses, that had us in awe from across New South Wales.
Vote on your favourite, and send in any that you have seen.
5) <a href="https://www.kenjacobs.com.au/549366/" target="_blank">2/11 Gladswood Gardens, Double Bay</a>
This waterfront beauty at circa 1860 sandstone Gladswood House has traditional architecture combined with contemporary design. The three-bedroom, two-bathroom apartment does actually feel more like a house than anything else.
With three car parks and in a cul-de-sac in Double Bay, it has views of the harbour, and comes with a $4.9 million price tag.
With fireplaces, timber panelling, mosaic tiled ensuite, herringbone parquetry floors and plantation shutters, it's a beautiful residence.
It has a gorgeous balcony, which we can see from the photos, and is one of the most amazing apartments we have seen.
Originally, the house was called Seaford House, before being re-named Glenyarrah and then, finally, taking the title Gladswood House. It was previously on the market from 2008 to 2010, according to RP Data, without achieving a sale.
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4) <a href="https://www.ianrayner.com.au/search/display.aspx?ln=1795977" target="_blank">28 Ranelagh Road, Burradoo </a>
This four-bedroom five-bathroom house has $4,950,000 expectations. The circa 1930s home is on two acres with timber parquetry flooring, high ceilings, and a northerly aspect.
It also has a conservatory and a library, and the overall feel of the property is that of a grand country manor house.
It has five garage spaces and last sold for $3,030,000 in 2002 (RP Data). It was listed in July this year for $4,950,000 having been listed in February 2012 for $5,500,000.
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3) <a href="https://www.cbrealestate.com.au/buying/NSW/Macarthurorcamden/Denham-Court/Acreage/40P5409" target="_blank">30 Cubitt Drive, Denham Court </a> Asking for offers over $3.2 million the listing dubs this property "The most famous home in south-west Sydney". With five-bedrooms, six-bathrooms and on 2.5 acres of land, it's fairly gorgeous with a stunning inside swimming pool.
A Georgian-style property built in 1992, it has a gated entry, a private study, an 'award-winning' kitchen, floodlit championship tennis courts, a gym, a spa and a wine store.
With off-street parking for 20 cars, as well as a three car garage, it is certainly one for the entertainers. Some of the rooms are very bright colours, however the outside entertaining areas are absolutely gorgeous.
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2) <a href="https://wahroonga-pymble.ljhooker.com.au/8GMGZ6" target="_blank">10 Alma Street, Pymble</a>
Last sold for $3,150,000 in July 2008, this property on 1,794 square metres is circa 1930 and has been extensively renovated. Named "Camberwarra" it is a five-bedroom, four-bathroom beauty with a dressing room in the master quarters.
With a swimming pool, tennis court and a teenage retreat, it also has french doors opening to the outside pool.
Tallowood flooring and coffered ceilings are throughout.
The light and airy feeling of the photographs, while keeping a more traditional feel to the overall design, have secured this property a spot on the top five list. Look at those beautiful windows!
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1) <a href="https://www.wardpartners.com.au/buying/NSW/North-Shore-Lower/Hunters-Hill/House/1P1062" target="_blank">14 Vernon Street, Hunters Hill</a> Last selling in 1992 for $1,775,000, this waterfront mansion is stunning. With five-bedrooms and five-bathrooms, it is dubbed Puerto Galera after the an area in the province of Oriental Mindoro in the Philippines.
It has an Italian veranda, a master suite with spa, separate guest accommodation, a garden pool and gazebo, gym, home theatre, wine cellar, bar and a three-car garage.
{yoogallery src=[images/stories/2013/12/02/hunt]}
 
{module Which of these NSW homes is your favourite?}
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
 
 
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Step inside five of the most beautiful residences in NSW

<html><body>Australian Property Monitors (APM) has released a list of results from 510 auctions in Sydney for the weekend of November 30. The clearance rate was 80.4%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's Sydney 510 auction results show a 80.4% clearance rate

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Sitting on Sydney Harbour, Rushcutters Bay was home to the sailing events in the 2000 Sydney Olympics. Located 3km from the Sydney CBD, it was previously referred to as “Rush Cutting Bay” in the 1800s because the swampy land was covered in tall rushes used by early settlers for thatching houses.
Fast-forward 200 years and Rushcutters Bay has been transformed into a prime waterfront site. According to the <a target="_blank" href="/news">latest RP Data report</a>, unit prices in the area have increased by 27.6% on last year, while rental yield currently stands at 5.6%.
Australian Property Monitors senior economist Dr Andrew Wilson told Property Observer that there are “continuing levels of demand” for the unit market in Rushcutters Bay, and “demand levels will continue in the area”.
“I believe there will be price growth again next year of around 5%. There’s a strong unit market there,” he said.
James Peach of Bresic Whitney Real Estate told Property Observer Rushcutters Bay is currently seeing a “big jump in buyers” especially for properties along Bayswater Road.
“Properties in the $500,000 range, and the studio and one-bedroom range, we’ve been seeing an increase in numbers and an increase in sale prices,” he said.
He noted that buyers were starting to move away from nearby suburbs such as Potts Point and Elizabeth Bay, and have been turning to properties in Rushcutters Bay. 
“With prices going so high in Potts Point and Elizabeth Bay, people are starting to look at the surrounding suburbs. There’s a lot of older people here, it’s one of the older suburbs, so it’s not really young and trendy,” he said.
However that is changing with the new Advanx East development that has brought an additional 132 units and a younger demographic to the area.
“Lots of restaurants have come in, and it’s brought a lot more people to the area,” Peach said. 
Peach has also noticed a jump in demand for art deco properties in Rushcutters Bay.
“A year ago, numbers were quieter. But it’s been much hotter in the last six to nine months,” he said.
He believes Rushcutters Bay will continue to grow in popularity, citing growth in Potts Point and Elizabeth Bay as examples.
“What we’re seeing in Rushcutters Bay now is more of a price correction; prices will go even higher, I think,” he said.
Richardson &amp; Wrench Elizabeth Bay/Potts Point property manager Leanna Levitt told Property Observer Rushcutters Bay is “doing very well”. 
She agrees that the Advanx East development has added a lot of apartment space to the area. As a result, there is a growing number of restaurants and cafes.
“It’s becoming like a small village,” she said.
She noted that the Advanx East property has likely influenced the median unit price in Rushcutters Bay.
“Generally with new developments, prices will go up, and that will be reflected in the next 12-18 months as properties are sold and resold,” she said.
Levitt has also noticed that tenants are considering purchasing their own properties as a result of the current low interest rates.
“With interest rates so low, renters are asking if they should be paying someone else’s mortgage. We can’t increase rent by 25 to 30% now, unlike two and a half or three years ago. It’s quite an interesting time,” she said. 
“Vacancy rates are quite low at the moment, though I think it’s more on the supply side than the demand side,” she added.
She expects that the property market in Rushcutters Bay will continue to do “very well”, as with suburbs within a five-kilometre range from the Sydney CBD.
According to the <a target="_blank" href="/news">latest RP Data report</a>, the median unit price is $472,000, up 27.6% on last year as mentioned earlier. The average discount required to sell a unit is 7.6%, while private treaty sales average 54 days on market.
The median asking rent for units in Rushcutters Bay is $510 per week, while gross rental yield currently stands at 5.6%.
dleow@propertyobserver.com.au 
 
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Suburb spotlight: Rushcutters Bay sees strong unit price growth

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Amendments to new planning legislation remove the code assessable development community consultation process, leaving New South Wales different from Victoria and Queensland where similar initiatives are currently in place.
Minister for Planning and Infrastructure, Brad Hazzard, said that the removal of this aspect of the legislation effectively reduces the say from the general public.
"Queensland and Victoria have used similar systems for years and their communities have benefitted from the upfront consultation and the certainty as to what development will occur where," said Hazzard.
"NSW currently has only limited complying code provisions which sees 27 per cent only of developments approved this way."
Currently, Queensland sees 80% of developments approved through codes and Victoria has 76%.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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NSW planning to remain far cry from Victorian and Queensland counterparts

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Located in New South Wales’ Hunter region, Cessnock is about 52km west of Newcastle and about 150km north of the Sydney CBD. Originally a wine region, it has progressed to a popular mining town.
Australian Property Monitors’ senior economist Dr Andrew Wilson told Property Observer Cessnock has recorded 4% growth in the last year, even though it has seen a softening in price growth over the last few weeks.
“Given that there’s some dollar recovery in the resources sector, Cessnock will continue to be a reasonable performer into 2014,” he said.
Dr Wilson added that the “strength of the local community” adds to Cessnock’s popularity.
Jurd Real Estate principal Alan Jurd told Property Observer Cessnock’s property market was “very good until about six weeks ago”.
“The mining downturn, the rationalisation in the mining industry has taken the zing off it a little. It is still fine, but it was very very strong up until six weeks ago,” he said.
He added that investors were fueling buyer activity in Cessnock at the moment, as opposed to homebuyers.
With the mining region winding down, Jurd notes that tenant demand remains if landlords have “realistic” expectations.
“Vacancies are now higher than they were a few months ago. A few months ago there were houses going for $600 per week that should be getting $450 per week. Now they’re getting $450,” he said.
Jurd mentioned that Cessnock would be a good place for investors with a long-term view.
“There was a property purchased in 1987 that resold recently that saw 600% capital growth. That’s the average over 25 years, with a 4% rental return over that period,” he said.
“Anybody looking to buy now and sell in two years and make a profit, I don’t recommend that. If you’ve got a ten-year view, I think Cessnock is as good as anywhere (for investments),” he said.
For investors looking to buy in Cessnock, he recommends purchasing house and land packages.
“You’re looking at typically 650 to 1000 square metres. You not only get rental return, but can also redevelop it in the future,” he said.
As for Cessnock’s future, Jurd noted that areas that have experienced the most amount of growth in the last decade have often seen population growth and major infrastructure projects.
“The Hunter Expressway extension will open in January. That’s a major infrastructure project that will reduce driving time from Sydney and Newcastle by 15 to 20 minutes. That may drive population growth too, but not immediately.”
“There are also a couple of large land releases that are coming closer, increasing the amount of product available and building activity – that will increase population. Even though there’s a downturn in mining, there’s a lot of major projects going on,” he said.
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Suburb spotlight: Cessnock over 2014

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With another of Sydney's biggest auction weekends coming up, Will Hamspon, an auctioneer for My Auctioneer, warned vendors to be careful with their reserve prices.
Noting that the market is the hottest it has been seen in years, Hamspon said that vendors may miss the boat if they wait until January. They should also be careful not to over-expect.
“Weekly media reports of record prices can prompt some vendors to over value their property and in turn buyers can be spooked if reserve prices are too high," he said, noting that some vendors are rejecting good offers causing buyers to be hesitant.
Auctionner Kate Lumby also noted that vendors need to be realistic.
“The auction culture is growing in Sydney and buyers are doing their homework. They have access to the web, they follow real estate commentary and in most cases they know the value of a property,” Lumby said.
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Media reports can prompt some to over value: Auctioneer

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NGA Human Resources, formerly known as NorthgateArinso, has signed a lease for 829 square metres of office space at 50 Carrington Street from listed property group DEXUS.
The six year lease, commencing on February 2014, is expected to generate a net rent of $580,300 per annum or $700 per square metre) gross.
The lease was negotiated by Ben Kardachi and Tom Mott from Jones Lang LaSalle, acting for DEXUS, and Rob Johnston of Cushman &amp; Wakefield acting for the tenant.
The property underwent an extensive refurbishment to include the lobby, lifts, and additional facilities, including male and female amenities, shower, new window glazing (allowing 35% more natural light), polished concrete floors and an exposed ceiling, said the CBRE agents.
<a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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NGA Human Resources sign six year lease in Sydney CBD

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An Internet security provider has leased an office suite of about 193 square metres in the Sydney CBD.
The firm known as Pure Hacking signed a four year lease, at 175 Castlereagh Street, in a deal negotiated by David Schmidt-Lindner of Savills Leasing NSW.
Suite 1.03 is described as a fully fitted out office with boardroom, 12 workstations, kitchen and storage area.
The area is about 193.2 square metres and it attracted a gross rental of $101,430 per annum.
Centuria Property Funds owns the 13-storey building.
<a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Internet security provider secures Sydney CBD lease

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An office building occupied by government and professional services tenants in the Tweed Heads CBD has sold under the hammer for $2.7 million. 
The 38-40 Frances Street property was purchased by an investor from northern NSW on behalf of an overseas-based owner.
The selling agent was Assi Dadon of Ray White Commercial.
Mr Dadon said the building on an area of about 1,315 square metres included  eight tenancies and "had potential to generate rental income in excess of $350,000 net per annum". 
Recently refurbished, the two level building has a net lettable area of about 1,208 square metres.
<a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
 
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Tweed Heads office building sold for $2.7 million

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The five-bedroom, five-bathroom mansion <a href="https://www.realestate.com.au/property-house-nsw-mosman-115212507" target="_blank">'Glenmire', 17 Stanley Avenue Mosman</a>, was advertised to go to auction at 6.30pm tonight, however the agent said the intention was never to have an auction. It's now currently under negotiation. The circa 1889 Victorian Italianate sandstone villa was completely restored in 2008. The landmark property is said to have once been used as ships as a navigational point on entering Sydney Harbour and is believed to be one of the first two properties built in the area. It previously sold in 2007 for $10,500,000 prior to restoration, with current estimates of around the $15,000,000 mark. Century 21's Ivan Resnekov said that it's currently under negotiation with several interested parties and that the prices being discussed are "up there". He also noted that they never intended to actually put the property to auction, telling Property Observer that it was just to let the public know they were definitely keen on selling. He said that they were happy with the buyer interest, saying that the mansion had received some notoriety and that overseas buyers were also on the list of interest parties. The current negotiations started a "few days ago" and it seems unclear when they are to end. With original features listed including 12-foot ceilings, decorative cornices, cedar joinery and leadlight windows, as well as five marble fireplaces and mosaic tiles to the entry and mid-level balconies, the photographs set it off perfectly. With views of Balmoral and Sydney Heads, it also includes all the little extras a top end purchaser would presumanly hope for. This includes Aquatherm under floor heating in level one, heated towel rails in all the bathroom, a heated pool, fountains, ultra lift TV systems, a sound system and, of course, a decent security system.
It also has a four-car stacker lock up garage.
The mansion was previously known as 'Merriwa' and was noted to have been built by goldfields tycoon Edward Stanley. Property Observer awaits the final sales result.
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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