One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

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

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

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

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>

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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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Angophora House, a newly completed Avalon house designed by Richard Leplastrier, has been listed by Andew Campbell, the builder who has worked on a number of Leplastrier's designs.
Its being marketed by the agency, <a target="_blank" href="https://www.modernhouse.co">Modern House Estate Agents</a>, as "a piece of fine cabinetry for humans."
They suggest the location of 33 Bellevue Avenue is equally beguiling being sited on the tip of the extended grove of Angophoras.
The recently completed house has six pavilions on an 808-square-metre site with good vantage lookouts towards Bangally Headland. No price guide has been yet given on the house set at Avalon, the northern beachside suburb of Sydney located 35 kilometres north of the Sydney CBD.
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The four bedroom, two bathroom house with 139 square metres of internal space has been worked on full-time for three years and three months until completion in February 2013. The design stems back to 2003.
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Some six months was spent in the ground with the help of master builder John Simpson with the timber, being recycled Jarrah coming from the Freemantle Wool Store, comprising some nine carriage loads delivered by Andrew Brodie of Australian Architectural Hardwoods, Kempsey.
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Image courtesy of Michael Nicholson Photography
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Builder lists Avalon's Angophora House by Richard Leplastrier

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A former self-managed superannuation advisor has received concurrent suspended sentences of 18 months after advising his clients to buy shares he held in a commercial lending business.
Craig Gerard Dangar was yesterday sentenced in the NSW District Court, Downing Centre after pleading guilty to two charges brought by ASIC of obtaining financial advantage by deception.
Dangar pleaded guilty to obtaining a total financial advantage of $250,000 by recommending that two clients purchase a portion of his shares in Morris Finance Ltd, a Geelong-based commercial lender, and misrepresenting the true owner of the shares.  He also indicated to one of the clients that the shares were likely to increase in value. Charges were brought by ASIC following an investigation into Dangar’s conduct between January 2004 and September 2007 while he was employed to provide superannuation advice to trustees of self-managed superannuation funds, and compliance advice to accounting firms. ASIC commissioner Peter Kell said ASIC is focused on promoting the integrity of the self-managed super industry so that ultimately, consumers feel confident when dealing in this area. "This case is a reminder to industry participants in the self-managed super space that dishonest conduct will not be tolerated and can lead to criminal conviction," Mr Kell said. Mr Dangar will be sentenced separately on a related charge before the Downing Centre Local Court on 11 April 2013. The Commonwealth Director of Public Prosecutions is prosecuting this matter.
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SMSF adviser guilty of deceptive investment advice to clients

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Frasers Property Australia has approval to develop a riverfront site at Parramatta, just east of the Parramatta CBD.
The five-hectare site, which is currently an industrial park tenanted by Toshiba, will have 774 apartments across 10 towers.
Ranging from two to 12 storeys, the contemporary Morton Street residential precinct has been designed by the architectural firm Smart Design Studio, following a design competition.
<img alt="frasersfeb21" src="/images/stories/2013/02/frasersfeb21.jpg" width="470" height="264">
The site includes 1.2 hectares of foreshore land which will be remediated and landscaped and then gifted to the city of Parramatta.
The site is close to the University of Western Sydney.
The area was re-zoned for residential, mixed-use, public open space and waterway uses in 2011 under the Parramatta local environment plan (LEP) 2011.
The recent planning consent for Frasers’ Morton Street masterplan and stage one works was given by the NSW Joint Regional Planning Panel following a period of <a href="https://mortonstreetconsultation.com.au/" target="_blank">community consultation</a> co-ordinated by Urbis.
Building heights are generally equal to or less than the heights permissible in the Parramatta City Council development control plan 2011 and the Parramatta local environmental plan.
The development will take place in three stages, with each stage assessed by council. Stage one works include three buildings with around 277 apartments, plus associated open space and landscaping.
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Approval for Frasers' riverfront project at Parramatta

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As the initial advertising of the four Bondi cottage offerings gets further underway, The Block All Stars ratings have picked up a tick, with four consecutive nights above one million viewers.
But it  still can't get close to the Channel 7 juggernaut, My Kitchen Rules.
Wednesday night's Block audience was 1.041 million to MKR's 1.75 million. The Block was the night's third most popular show, excluding news and current affairs.
Estate agents have been limited in rolling out all the internal images as just two rooms have been revealed, although the floor plans give more than a hint of what's to come with the $1.4  million plus inspection by appointment listings.
In a demure strategy, McGrath agent Chris Volpatti has been marketing <a target="_blank" href="https://www.mcgrath.com.au/buy/house-bondi-nsw-2026/176408/?searchID=26595604">6 Tasman Street</a>, but without any reference to The Block what-so-ever. It's the cottage renovated by his clients, the Melbourne couple, Dan and Dani. The ad does say its been renovated in a "signature style."
<img height="333" width="470" src="/images/stories/2013/02/theblockfeb21two.jpg" alt="theblockfeb21two">
By contrast, Phil and Amity kicked off their marketing with fanfare last week for 12 Tasman Street through <a target="_blank" href="https://www.1stcity.com.au/Sales-Detail.aspx?id=HCES280&amp;wlid=b059dba1-f68f-41c9-a078-0e6e7e4922ed">1st City - Hasemer + Caldwell.Eyles</a>.
<img height="451" width="470" src="/images/stories/2013/02/theblockfeb21one.jpg" alt="theblockfeb21one">
Ray White agent Cameron Airlie has begun marketing <a target="_blank" href="https://rwre.com.au/nsw/bondi/927853/">8 Tasman Street</a>, the Josh and Jenna renovation set for March 19 auction. He plays down the Block association, with just the one pic of the renovation couple.
<img height="453" width="470" src="/images/stories/2013/02/theblockfeb21three.jpg" alt="theblockfeb21three">
BresicWhitney have yet to post any marketing for 10 Tasman, which was renovated by the tradies, Mark and Duncan.
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The Block All Stars audience builds, but Sydney listing agent overlooks Dan and Dani

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Asian investment house Bright Ruby is reportedly eying an office tower purchase in Sydney’s central business district.
It has approached the owners of 420 George Street, seeking to acquire the $500 million office component of the premium development.
The Australian Financial Review says the owners of the complex, Fortius Funds Management (75%) andLend Lease’s APPF investment unit (25%) have not formally offered 31-level tower to the market.
Comprising 37,733 square metres of A Grade office space, it tenants include State Street and AECOM.
It was Sydney CBD’s first five-star Green Star Design v2 office building.
Last year, the co-owners appeared to be ready to bring 420 George Street and MidCity shopping centre to market in one line, which could have reaped them $700 million, the AFR reported.
The Singapore-domiciled Bright Ruby has been chasing major Sydney office towers showing interest in the half share of the MLC Centre that GPT Group offered to the market in 2011.
Bright Ruby’s initial foray was the $62.5 million purchase of 10 Barrack Street in the Sydney from BlackRock.
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Singapore's Bright Ruby seeks out more Sydney office acquistions 

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The artist David Bromley and his partner, Yuge Yu, having adjusted price expectations on their current Byron Bay abode, have found a buyer.
Bromley, one of Australia's most prolific artists, and Yu, a fashion designer, cut the asking price on the Jonson Street property from $1.55 million <a href="https://www.propertyobserver.com.au/new-south-wales/artist-david-bromley-knocks-%24150000-off-his-byron-bay-asking-price/2013010758639" target="_blank">to $1.4 million earlier this year</a>.
The property was bought by Bromley's former partner of 17 years, Tori Dixon-Whittle, who paid $1.15 million in 2007. Dixon-Whittle and their three children now live in Vietnam.
The original three-bedroom cottage comes with outbuildings that allow for, all up, five bedrooms. There is commercial zoning.
It was sold through Ray White agent David Gordon who had its listed in conjunction with Bangalow Real Estate.
The property is being offer with painted murals in the courtyard, on the side of the house, in two bedrooms and in the living area.
In its backyard, there’s a vintage AirStream caravan with a deck and Japanese hot tub, and a Studebaker ute decked out with tropical plants.
The selling price has not been revealed.
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Artist David Bromley finds Byron Bay buyer 

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Australia’s financial markets are off to a swashbuckling start in 2013, hitting a 33-month <a href="https://www.businessspectator.com.au/bs.nsf/Article/Aust-stocks-open-at-fresh-33-month-high-pd20130213-4UV59?opendocument&amp;src=rss">high</a> and thus conquering a psychological barrier. This was quickly followed by another <a href="https://www.businessspectator.com.au/bs.nsf/Article/Aust-stocks-open-pd20130214-4VV5M?opendocument&amp;src=rss">breakthrough</a>, which was the benchmark index's highest point since August 2008. The most interesting point is that investors were running scared last year, but once they saw the coast was clear they came flocking back in. You see the same behavioural pattern in real estate: when the market is booming, buyers are prepared to pay well over the reserve, but when the market is falling they are mesmerised by fear.
<a title="As banks’ cash piles grow, so does the pressure to share with investors" href="https://www.smh.com.au/business/as-banks-cash-piles-grow-so-does-pressure-to-share-with-investors-20130211-2e8u2" target="_blank">As banks’ cash piles grow, so does the pressure to share with investors</a>. Last Wednesday, the country’s largest lender the Commonwealth Bank announced it was headed for another year of record earnings. It’s hard to fathom why gloomy former <a title="RBA board member Bob Gregory predicts cash rate to fall to 1.5%" href="/news" target="_blank">RBA board member Bob Gregory predicts the cash rate to fall to 1.5%</a> (although other bank economists are more circumspect). Given the Reserve Bank of Australia (RBA) currently has the cash rate at 3.00% - which is what the bank terms “emergency levels” - one can only assume that at 1.50% our economy would be in intensive care. I can’t see that happening, however. The only positive is that at 3.00 % the RBA still has plenty of fat to cut from the cash rate. Weak outlook <a title="Weak outlook weighs on business confidence: CEO’s" href="https://www.businessspectator.com.au/bs.nsf/Article/Weak-outlook-weighs-on-business-confidence-CEOs-pd20130208-4QQNP?opendocument&amp;src=rss" target="_blank">weighs on business confidence: CEOs</a>, although the RBA is preparing for a slightly weaker economy.
So our fascination with markets continues to confuse given the balance of arguments are both for and against, which translates into the dreaded consumer confusion. <a title="Housing values maintain build – up" href="https://afr.com/f/free/blogs/christopher_joye/housing_values_maintain_build_up_N2u1LtLLkNmHCKvZXOxlFJ" target="_blank">Housing values maintain build – up</a> where the much-maligned “housing affordability” presently sits at a ten year low. Australia’s property markets consist of thousands and thousands of individual niche markets, as shown in the graphs below.
<a href="https://www.rwm.com.au/2013/02/mirage-markets-continue-to-stifle-consumer-confidence/bb67f820-71a0-11e2-8dce-b19ab989915d_09p29sm_joye/" rel="attachment wp-att-7429"><img alt="bb67f820-71a0-11e2-8dce-b19ab989915d_09p29sm_joye" src="https://www.rwm.com.au/wp-content/uploads/2013/02/bb67f820-71a0-11e2-8dce-b19ab989915d_09p29sm_joye.png" width="470" height="244"></a>
<a href="https://www.rwm.com.au/2013/02/mirage-markets-continue-to-stifle-consumer-confidence/12-02-2013-10-25-46-am/" rel="attachment wp-att-7423"><img alt="12-02-2013 10-25-46 AM" src="https://www.rwm.com.au/wp-content/uploads/2013/02/12-02-2013-10-25-46-AM.jpg" width="470" height="796"></a>
In the late 1980s, the Mosman property market was dominated by property developers who were eventually wiped out in the early 1990s with the "recession we had to have". Our markets were benign until 1995 when Sydney was announced as the host of the 2000 Olympics, marking the rise and rise of merchant bankers – a group who were to be severely impacted by the Global Financial Crisis. The new dominant buyer in Sydney’s top–end markets <a href="https://www.propertyobserver.com.au/trends/chinese-signal-property-buying-intentions-in-australia-as-permanent-arrivals-numbers-rise-and-visitor-numbers-jump-dramatically/2013020659187">are the Chinese</a>. According to the Australian Bureau of Statistics (ABS), 17,580 Chinese people settled permanently in Australia in 2012, up from 15,780 in 2011 and 14,720 in 2010. We have seen anecdotal evidence at the top–end that the Chinese are the new main players, which explains why last week we added a Chinese translation to our website.
Yet again, vendors in Sydney's lower north shore are not being drawn into selling, with numbers of houses and apartments well down on this time last year. Given the volumes in 2012 were significantly up when compared to 2013 it is indeed difficult to explain why vendors are not attracted to sell. We believe the reason is many people think that property markets are set to jump significantly and, given the low stock levels, they are concerned about selling and then seeing prices jump and being caught in a vacuum. This takes me back to what I said earlier: you see the very same behavioural patterns with real estate. When the market is booming, buyers are prepared to pay well over the reserve, butwhen the market is falling they are mesmerised by fear.
Robert Simeon is a director of <a target="_blank" href="https://www.rwm.com.au/" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog<a target="_blank" href="https://www.rwm.com.au/news/" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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Fear of price jump holding back north shore vendors

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The Rae's on Watego"s guesthouse at <a target="_blank" href="/news">Byron Bay </a>is back on the market after its $20 million purchaser failed to settle the October 2012 pre-auction deal.
''We had much genuine interest in Rae's at the auction, and I'm annoyed about this situation, having exchanged a signed contract with guarantees from a reputable international businessman who has not delivered,'' owner Vincent Rae told Fairfax Media, having returned from his Paris base to undertake the re-marketing of the beachfront property.
The Marine Parade, Wategos Beach property had been scheduled for early 2013 settlement, but denied whispers began to circulate that the sale was not proceeding.
 In January Rae told News Ltd papers that he intended to meet with the intending buyer, the hedge fund manager William Morris in London in late January to discuss the delayed settlement.
Only last Thursday Property Observer was advised the sale was proceeding.
"News to me," a conjunctional selling agent said when Property Observer suggested the sale was not proceeding.
<a target="_blank" href="https://www.propertyobserver.com.au/news/rae-s-at-wategos-sold-in-the-hour-before-its-auction/2012102657462">During the marketing campaign</a>, the conjunctional agents issued 25 contracts to local and international parties, but just minutes before the auction, there was an announcement that contracts had just been exchanged and the property was sold.
Located on a prized 1,049-square-metre beachfront Marine Parade block, the property was set for auction through Ray White Hotels agents Tony Bargwanna and Andrew Jolliffe in conjunction with Gerald Delany of Kay &amp; Burton in Melbourne.
The auction was scheduled for 2pm but following last minute negotiations, the auctioneer Andrew Bell, of Ray White Surfers Paradise, announced <a target="_blank" href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-byron+bay-500448523">the property </a>had sold.
"It's a momentous day," he told the large waiting curious crowd which included representatives of a Chinese investor with coalmining interests in Australia.
The selling agents have declined to give any indicative pricing, although the local paper says it fetched more than $21 million.
The agents expected interest from hoteliers, but it would mostly likely attract considerable residential buyer interest. There is recent approval for a new underground car park, cocktail bar, lift, sub-penthouse, spa area and a 200-square-metre entertaining terrace.
It charges between $600 to $1,380 a night.
Rae's is opposite the 1,406-square-metre record-setting holding bought by property developer Danny Goldberg for $15.68 million in boomtime 2006.
It was 1994 when the Rae's property sold for $1.37 million.
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Rae's at Wategos relisted after momentous $20 million sale wipeout

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A<a target="_blank" href="/news"> Dee Why</a>, Sydney, property caught in a storm over market price estimates, has been sold for $890,000.
The property had been listed with $880,000-plus hopes through First National Dee Why agent Frank Caterina.
However it had been given a <a target="_blank" rel="nofollow" href="https://www.domain.com.au/Property/For-Sale/House/NSW/Dee-Why/?adid=2010280218">$725,000 to $800,000 market price estimate</a> by the Domain website which the agent told Property Observer had not been helpful.
The property (pictured below) now appears as under contract on the Domain site.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/02/deewhy1.jpg" title="Click to enlarge"><img src="/images/stories/2013/02/deewhy1thumb.jpg"></a>
 
The property had previously sold at $850,000 in May 2012 having been listed with $820,000 plus hopes.
The listing was among those earlier this month where vendor advertisements on Domain were being given unsolicited market price estimates from Australian Property Monitors, the Fairfax-owned data company.
But the Domain management <a target="_blank" href="https://www.propertyobserver.com.au/news/domain-pulls-apm-market-price-estimate-campaign/2013021559360?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">took down the market price estimates from listings</a> across the country after the initiative caused chaos.
 
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Dee Why property sells at agent's price guide, as Domain market estimate falls short

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Camelot, the 1967 Martin Road, Centennial Park house designed by Nicholas Munster, has finally been sold.
The outstanding example of 1960s architecture last traded for $5.61 million in 2006.
It's been resold at $4.175 million.
It's been bought by Damian Secen, co-chairman of Macquarie Renaissance Infrastructure, through <a href="https://www.ballardproperty.com.au/Buying/Search/residentialresult/residentialdetail.aspx?id=WOOLLAHRA%202012008&amp;wlid=736117da-d072-496d-8443-ca2a58e062e6" target="_blank">Ballard Property agent Mark Lowe</a>. Renaissance Group specializes in high opportunity emerging markets in Russia, Ukraine, Kazakhstan, Sub-Saharan Africa, the United Kingdom, the United States and Cyprus.
It had been listed by Dana Swebeck, wife of architect William Zuccon, for sale in October 2010.
<a href="https://www.propertyobserver.com.au/new-south-wales/welcome-to-the-60s-in-centennial-park/2011072550905" target="_blank">Property Observer reported on its listing in July 2011</a>.
It was the iconic home of Ford Pills founder William Rogers. The single-storey, flat-roofed Martin Road house, built to a design by Nicholas Munster, after the land was sold for $36,000 in 1967.
It was first traded for $1,295,000 in 1992 by Rogers' daughter, Joan. 
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