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.

&nbsp;

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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."

&nbsp;

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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."

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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.

&nbsp;

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<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, two levels 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.

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Joel Robinson

Goldfields sets the stage as Quartet Milton launches

<a href="https://www.apartments.com.au/developers/stockland">Stockland</a> and Homes NSW have taken the next major step in the transformation of Waterloo Estate, lodging a Concept State Significant Development Application and concurrent rezoning proposal for the renewal of Waterloo South.

The proposal, now on public exhibition, outlines plans for around 3,300 new homes across the 12.3-hectare precinct. A minimum 30 per cent of residential gross floor area will be delivered as social housing, approximately 20 per cent as affordable housing, and a maximum 50 per cent as market housing. The redevelopment would more than quadruple the number of homes currently on the site and more than double the existing supply of social and affordable housing.

The renewal of Waterloo South forms the first stage of the broader Waterloo Estate transformation and is set to unfold over the next 10 to 15 years. The estate currently contains 750 social housing dwellings and 120 private homes.

<img alt="First look: Stockland and Homes NSW unveil plans for 3,300-home Waterloo South renewal" data-entity-type="file" data-entity-uuid="ba2da34b-171b-4ff1-b0c7-4baf0bce97f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Waterloo%20public.png?VersionId=S5apPKOqjPHJhk_SzCvdVPxsEBYs300o" />

The proposal, prepared by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> and Beam Planning, spans 10 street blocks bounded by Cope, Raglan, George, Wellington, Gibson, Kellick, Pitt and McEvoy Streets, directly adjoining the Waterloo Metro Station precinct and within walking distance of Redfern and Green Square stations.

Under the masterplan, building heights would range from two to 33 storeys, delivering approximately 282,485 sqm of residential floor space alongside at least 10,000 sqm of non-residential uses and a minimum 5,000 sqm of community space. The planning framework has been specifically structured to support the mixed-tenure outcome, with the residential gross floor area capped at a maximum 50 per cent market housing allocation.&nbsp;

The Urban Design Report describes the vision as creating “a unique and vibrant mixed-tenure housing precinct that supports the needs of the community and delivers much needed housing in response to National and State Government priorities.”&nbsp;

<img alt="First look: Stockland and Homes NSW unveil plans for 3,300-home Waterloo South renewal" data-entity-type="file" data-entity-uuid="6e1a6d8b-0626-4fa7-94fc-aa91c0af86dc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/waterloo%20per.png?VersionId=duyiJTFOeezTNdM22leI3SoHuqnW6ZaY" />

A major focus of the revised proposal has been increasing the social and affordable housing component. The Minns Government increased the affordable and public housing allocation from 35 per cent to 50 per cent after coming to office in 2023.

Minister for Housing and Homelessness Rose Jackson said the changes were critical to maintaining Waterloo’s social diversity.

“When we came to government, we immediately reviewed the plans for the Waterloo renewal and boosted the number of public and affordable homes from 35 to 50 per cent,” Jackson said.

“This was a crucial step to ensure Waterloo remains a welcoming place for people from all walks of life to call home now and into the future.”&nbsp;

Minister for Planning and Public Spaces Paul Scully said the project would reshape the precinct for generations.

“This concept DA brings thousands of new public, affordable and market homes on the doorstep of the Waterloo Metro station another step closer to reality,” Scully said.

“Importantly, alongside the new homes the plan also proposes new open space where residents and the broader community can gather, relax and play.”&nbsp;

<img alt="First look: Stockland and Homes NSW unveil plans for 3,300-home Waterloo South renewal" data-entity-type="file" data-entity-uuid="867520cb-6e07-4204-885e-53793ac88066" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Waterloo%20public%20a.png?VersionId=lgSI85Q23xBLYLC9NcWKuWZY2HfP4zQ3" />

Stockland Managing Director and CEO Tarun Gupta said the project had been shaped around long-term liveability and community infrastructure.

“As delivery partner, Stockland is proud to be working with the NSW Government on the renewal of Waterloo South – a significant project with community at its heart,” Gupta said.&nbsp;

The planning documents place strong emphasis on “Designing with Country,” recognising the site’s location on Gadigal land. The masterplan incorporates new east-west pedestrian links, activated streetscapes, rooftop communal spaces, retail frontages, and landscaped public areas intended to improve permeability and community connection throughout the estate.&nbsp;

The proposal also seeks to establish a more flexible planning framework for future detailed SSDAs, including updated provisions for educational uses, creative industries, rooftop communal areas, and active frontages. A minimum seven per cent of residential floor space will be delivered as affordable housing managed in perpetuity by community housing provider City West Housing.&nbsp;

The Social Impact Assessment prepared by Urbis describes the renewal as one of Australia’s most significant public housing transformations, identifying substantial long-term positive impacts associated with housing supply, accessibility, public domain improvements, and community infrastructure.&nbsp;

Stockland and Homes NSW have already commenced the first stage of resident relocations, with some tenants moved into newly completed homes at Waterloo Metro Quarter and the Boronia development nearby.

First look: Stockland, NSW Gov, unveils plans for 3,300-home Waterloo South renewal

<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

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The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

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Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

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Smith by Valli delivers design-led apartments to Melbourne’s inner north

<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

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Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

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Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

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The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

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Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

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The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

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Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

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The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

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MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

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.

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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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<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/flagtitletat.jpg" style="margin: 5px; float: left;">
The high-flying recently retired Australian expat hedge fund trader Greg Coffey finally has his Balmoral compound.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/12/burran31.jpg" width="470">
It's been sealed with the recent acquisition of a $3.5 million Burran Avenue holding (pictured above). The four-lot, three purchases total 4,400 square metres, have cost $17.8 million.
The latest purchase added a strategic 610-square-metre holding to the hillside compound, which began with the purchase of the Merdjayoun estate in 2005.
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Coffey paid $11.8 million for Merdjayoun, a seven-bedroom, 1930s Kirkoswald Avenue house (pictured above) on 3,200 square metres through Ray White agent Kingsley Yates inconjunction with Richardson &amp; Wrench. It had been held by the Hattersley family for decades.
Then earlier this year Coffey paid $2.5 million for the home on 610 square metres of the late Patricia Flynn, which had been unoccupied for several years when listed by the NSW Trustee and Guardian through Ray White Lower North Shore.
The latest acquisition through Ray White Lower North Shore last traded in 2001 when bought by the Balicki family.
No plans yet lodged with Mosman Council, so just what Coffey wants awaits. The two smaller purchases give him both sites in front of his main residence holding, which has a slight covenated building restriction.
Elsewhere at <a href="/news">Balmoral</a>, the Manassen family spent $7.5 million on one place, then $6.4 million on the adjoining clifftop harbour property in 1998 and 1999. Ditto Urs Schwarzenbach, the Swiss-born financier based in Britain, and his Australian wife, Francesca, who bought their first Balmoral clifftop house for $3.9 million in 1988 and then $11 million for the neighbouring sandstone cottage in 2010. The Schwarzenbachs currently have a $2.3 million demolition and works project by architect Ian Little before council.
The Karedis family spent $19.05 million on their two-block Balmoral acquisition in 2005 and 2006.
Topping the outlay was the Oatley family, who spent $15 million for Rivendell in 2001 through Richardson &amp; Wrench, and then $19 million in late 2011 for the adjoining holding.    
Ros Oatley-Lambert, the former wife of the former Southcorp wine chief Keith Lambert, snapped up her neighbouring Balmoral harbourfront property, Kahala, to improve her garden and boating facilities.
The 1,485-square-metre Hopetoun Avenue acquisition was sold by Albert Bertini, the flamboyant property developer. The adjoining Rivendell was a 2,000-square-metre double block.
Of course one doesn't have to buy more than one holding to make an impression.  Mosmanites are marvelling at the deep excavation at the recent Kirkoswald Avenue acquisition of Kimberly Simpson-Morgan, the wife of UBS boss Matthew Grounds. They are replacing a large Federation house on a 1,680-square-metre block that cost $14.05 million. The council were advised the newBKH-designed house would cost $3.9 million with the construction being undertaken by Todd Grounds at Grounds Construction Pty Ltd. It was approved but only after the potential heritage significance of the house was queried by near neighbour, Emeritus Professor David Carment.
Sydney's most noteworthy compound surrounds the main Packer family residence, Cairnton in <a href="/news">Bellevue Hill</a>. Although there's been no acquisitions for a decade, it totalled nine separate acquisitions in the decades following the first purchase in 1935 by James Packer's late grandfather Sir Frank Packer, costing about $9.1 million, at yesteryear price levels, but obviously worth much more in today's market.
Credited as reshaping London's financial district, the City, Coffey initially lived in relatively humble London homes.
From 1999, Coffey and his wife, Ania Brzezinski,resided just off Clapham Common in a suburban Tudoresque semi with attic that was worth about £1 million freehold, based on Title Tattle's 2006 kerbside appraisal.
He then moved to the pricier Chelsea, which the Australian Financial Review described as culminating a dazzling career that catapulted had him from Cabramatta in Sydney’s western suburbs to Chelsea in west London.
In October Coffey hit international headlines when he announced his retirement aged 41 from his London hedge fund, taking with him as estimated fortune of $400 million to enjoy.
His resignation letter at Moore Capital Management said he intended to spend more time in Australia with his wife, Ania, and their children.
Shortly after Title Tattle heard the rumour that swept the Pittwater peninsula that the Coffey's spent $13 million-plus to be the buyers of <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/news/geoff-cousins-snappily-secures-%2413-million-plus-whale-beach-buyers/2012101957317" target="_blank">adman Geoff Cousins' weekender</a>, adjacent to their own Whale Beach retreat.
But this wasn't the case.
Instead they had their eyes on their Balmoral neighbour.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/10/harrison1.jpg" width="470">
Coffey also has grand plans for his sprawling Ardfin estate (pictured above and below) in the Hebridean Island of Jura, Scotland, for a golf course.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/10/harrison2.jpg" width="470">
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Greg Coffey gets his Balmoral residential compound for $17.8 million: Title Tattle

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A two-bedroom Paddington cottage, set on an inner-Sydney 70-square-metre landholding, was snapped up before its scheduled weekend auction for $825,000.
The Paddington Lane cottage last traded at $812,500 in July 2010.
<img src="/images/stories/2012/12/padlane.jpg">
The late 1880s renovated property is set to be rented out at around $825 a week by its new investor owner.
It traded for $545,000 in 2002 and at $515,000 in 2001.
Before that it traded at $306,000 in 1997 and at $125,000 in 1991.
<a target="_blank" href="https://www.realestate.com.au/property-house-nsw-paddington-112287691">Maclay Longhurst of BresicWhitney</a> secured the latest sale after around 125 parties inspected the offering.
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Pocket-sized gains for Paddington Lane, Paddington offering

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There's almost no more ultimate terrace house address in Sydney than owning on Paddington Street, Paddington.
And that's just where the former Queensland premier Anna Bligh has been spotting house hunting.
Everyone knows she's been looking – though Property Observer has the first confirmed location – since she and her husband, Greg Withers, have been renting after he took a job in Sydney earlier this year.
''We are looking to rent for 12 months while we get acquainted with the Sydney property market,'' Bligh told the local paper after her August arrival when Withers began as a senior executive in Arts NSW.
And Bligh, who said she would ''always regard Queensland as my home", seems to have kept herself busy with Saturday open for inspections. With around $2 million to spend, it won't be at the pointy end of the <a href="/news">Paddington</a> market, but certainly above the suburb median which RP Data says sits around $1,325,000,  down 9.1% over the past year.
Paddington's most recent sale was last night when Brad Caldwell-Eyles at<a href="https://www.1stcity.com.au/Buying/Search/Detail.aspx?id=HCES248&amp;wlid=06e16cb5-0826-495e-857e-5d023e3f94d1" target="_blank"> 1st City Hasemer + Caldwell-Eyles </a> secured $3,425,000 for 138 Glenmore Road Paddington at Cooley Auctions. It sold at mortgagee auction having last traded at $3 million in 2004. 
There are currently 34 houses for sale in Paddington, advertised on realestate.com.au.
There are five on Paddington Street and one on Paddington Lane.
The listings include <a href="https://woollahra.ljhooker.com.au/1Y6GP8" target="_blank">13 Paddington Street </a> which has been listed for sale since May this year through LJ Hooker Woollahra agent Michael Stavianos by the Stravrianos family.
The imposing offering at <a href="https://rweast.com/nsw/paddington/832179/" target="_blank">133 Paddington Street </a> is for sale at $2.5 million through agent Richard Carwin. The Ray White Paddington office initially listed it in August 2011.
The fresh offering (pictured above) at <a href="https://www.ballardproperty.com.au/Buying/Auction-Timetables/residentialdetail.aspx?id=WOOLLAHRA%202012091&amp;wlid=c451b1f6-9eb0-46c9-bf9c-36594a0b42fb" target="_blank">84 Paddington Street </a>went to November auction through Ballard Property Group agent Mark Lowe.
With Harbour views from some of its four levels, the six-metre-wide terrace was on the market for the first time in more than 30 years. It sits on a 190-square-metre parcel of land.
Another fresh listing that didn't sell at its November auction was <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-paddington-nsw-2021/168931" target="_blank">168 Paddington Street</a>. It last sold in 2009 at $1.78 million.
The <a href="https://www.bresicwhitney.com.au/real-estate/Buy/Auction-Times#top" target="_blank">1 Paddington Lane </a>offering is a timber cottage which goes to auction this weekend through Maclay Longhurst of BresicWhitney Estate Agents. 
It was <a href="https://www.propertyobserver.com.au/new-south-wales/listing-of-%2411-million-could-smash-paddington-record/2011092251645" target="_blank">September 2011 when the suburb's priciest listing hit the market, and remains for sale through McGrath agent Ben Collier</a>.
The Leal family, who made their money as owners of Super Smash, the Bondi smash repairer, listed their grand Paddington Street home with $11 million hopes.
It wasn't their first foray into record-setting Paddington listings, as they sold their previous double-fronted offering for a record $4.52 million in late 2004 to investment industry bigwig Andre Morony and his wife, Beverley, through McGrath agents James Dack and Ben Collier. It was a four-level, six-metre-wide terrace standing on a 202-square-metre block.
The latest offering is described by Ben Collier as "arguably one of Paddington’s finest homes".
The north-facing terrace is set on a 390-square-metre block of land, located at the Woollahra end of Paddington Street.
It has four levels with lift access. The double-fronted terrace spans 12 metres in width.
The two now amalgamated terraces were consolidated in 2000.
The Paddington record residential price is $7.75 million when a Goodhope Street Dunkley Developments residence sold through Bickmore-Hutt agent Damien Bickmore-Hutt in April 2010.
There had been an earlier $7.75 million sale in 2006 when stockbroker Neville Miles sold in Union Street.
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Anna Bligh seeks out Paddington purchase possibilities

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Last sold in 2006 at $4.85 million, Coombe Grange, a heritage-listed Tudor Revival-style Cronulla house, has been listed for sale.

The 2,637-square-metre Taloombi Street estate almost commands beachfront prices, albeit with freehold pathway access to Gunnamatta Bay.
It's been listed through McGrath agent Sean Egan for December 15 auction. Around $5.95 million is tipped.
Taloombi Street beachfront prices hit $6.9 million in 2007, with four subsequent sales above $4 million.
The <a target="_blank" href="/news">Cronulla </a>house, with Queensland maple timberwork plus diamond-shaped leadlight windows, sandstone fireplaces and ballroom, comes with a tennis court, pavilions and pool.
The house initially hit the headlines in the early 1990s when a mortgagee sale in 1991 secured $970,000 after the catering industry manufacturer Patricia Poulos, founder of the Centre Unity Party, lost the house pursuant to her Commonwealth Bank indebtedness.
The $360,000 debt, with interest, had soared to $1,019,000 during lengthy contest court hearings.
It was last sold in 2006 by the Burke &amp; Shute estate agent Chris Burke who'd had the house leased briefly to $2,000-a-week tenants Robert Bassili and Nicholai Dimitri Popov, who'd ran the ill-fated Radisson Maine property lending group.
The house was designed by architect Spencer Spasfield for Reginald and Florence Snelling who'd operated a Glebe printing business.
The house was completed in stages, including the addition of the ballroom in 1925.
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Sutherland Shire Tudor Revival heritage mansion Coombe Grange in Cronulla listed

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Towns and rural villages within an hour’s drive of Newcastle present first-home buyers and investors with many opportunities to acquire property priced under $300,000, though in some cases, employment, shopping and transport options may be limited.
Valuers Herron Todd White pick Cessnock, the fringe suburbs of Lake Macquarie and range of small rural towns to the north, south and west of Newcastle, where houses can be picked up below this benchmark.
“At Cessnock in the west, very basic and dated housing can be acquired for $150,000 to $200,000 as well as in fringe villages like Aberdare and Millfield.
“Further west in the town of Singleton, the coal mining boom is impacting on housing, seeing basic prices again rising to the $250,000 to $300,000 range.
“Singleton can further expect to benefit from the M15 expressway due to open in September 2013 making the region more accessible,” says HTW.
Outer-suburb buyers are being spurred on due to a tight rental market in Newcastle with the Real Estate Institute of NSW reported a 1.6% vacancy rate in October.
The median price of a Newcastle house is $655,000 and $430,000 for units, according to RP Data with BIS Shrapnel tipping <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/hotspot-newcastle-tipped-for-strong-growh/2011062950648">strong capital growth of around 6% per annum </a>over the next two years.
Apart from being Australia’s sixth biggest city with a population of 550,000, Newcastle is also a beneficiary of coal mining investment activity and is well connected to Sydney plane, train and by car via the Newcastle Freeway and the Pacific Highway.
Herron Todd White notes that affordable houses are “typically in areas with limited employment opportunities, shopping, education, and public transport.
“The typical purchaser of affordable housing is quite varied and includes a wide range of owner-occupiers, first home buyers and investors.
“In the current economic climate we are finding the most remote of locations experiencing greater sales periods than their more centralised counterparts.
South of Newcastle, first-home buyer and investor opportunities can be found on the southern fringes of Lake Macquarie, with cheaper housing is priced from around $250,000 to $300,000 in areas such as Doyalson and Wyee.
“Similar pricing occurs in the small villages near the Pacific Highway like Morisset, Dora Creek and Awaba.
Buyers with a penchant for rural living might consider the more remote areas of the upper north and north-west, around towns such Dungog, Stroud, Gloucester and  Buladelah, suggests HTW, with houses priced from as low as $150,000 to $200,000, but where “services and facilities are more limited”.
“Finally in the coastal areas of the north-east, lower end property around Hawks Nest and Tea Gardens can be acquired for around $250,000 to $300,000.
“Just to the south around Nelson Bay, older houses can sell for as low as $300,000.
“Over the last few years these coastal areas have experienced a significantly weakened market with the typical purchaser – an investor or holiday house purchaser having departed the market and sales periods have noticeably increased,” says HTW.
For Terry Ryder's outlook on the state of the regions sign up for the free webinar on Thursday, December 6 at 12.30pm on <a target="_blank" href="/news">Regions versus capital cities - where to invest in 2013?</a>
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Newcastle fringe suburbs attracting first-home buyers and investors with many options under $300,000: HTW

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The Tamarama property occasionally occupied by model Megan Gale sold yesterday at an undisclosed price, believed to be around $3 million.
The sale was revealed by the realestate.com.au website. Buyers were being advised $2.95 million-plus was expected for the four-bedroom house, which might have fetched closer to $3.5 million at its peak.
The property sold one week before its scheduled December 6 auction.  Gale's mother bought the Ashley Street house in 2003 for $2.4 million with it rented out much of the nine years.
Property Observer featured the on-the-quiet listing last weekend. At $3 million, the investment yielded an ordinary 2.3% annual price growth.
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Megan Gale farewells Glamarama as Tamarama investment property sells  pre-auction

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{qtube vid:=bMfBjqsOdK8&amp;feature=plcp}
In our Purchase of Pass segment this week, Chris Gray is joined by John Edwards, CEO of Residex, to look at multiple properties on a single title.
<img src="/images/stories/2012/11/pptriplex.jpg">
Is buying a single property with multiple streams of income a good investment strategy, or are there some downsides that you might not be aware of?
This <a target="_blank" href="/news">Bondi Beach </a>property consists of a three-bedroom, two-bedroom and a one-bedroom unit in a converted house style property with double frontage. It’s 6.9 kilometres from the city and one kilometre from the action. The property has recently been renovated and receives $2,200 per week rent and it has an asking price of $1.5 million plus.
Chris Gray: John, what’s the main attraction of going for a property with multiple streams of income on the one title?
John Edwards: What this is all about is the yield that's available, and the yield is very attractive. I had a look at this particular property on the internet, and I was a little bit, frankly, disturbed by it. There looked to me to be some inherent problems with it. I also had a question whether it was, in fact, approved by council, and that's something that everybody ought to consider very carefully. Then I looked at the structure of it all and can see some cracking above some windows and some other things, and so I was a little concerned about the property. Would the rate of return really be there once I fixed it up, and would I be really able to rent it out as it currently was and get the income stream? If I couldn't, I wouldn't think it is worth $1.5 million. There are a couple of lessons in that: you need to check your council, and make sure the building is really sound. Remember one other thing: unless you can strata this, you're not going to get the capital growth out of it that you really ought to get.
Chris Gray: Because ultimately you can't sell it.
John Edwards: Absolutely. And there are rules with regard to strata-ing that you  have to remember. I didn't think this particular property was strata-able at the end of the day. I was a bit concerned about its structure. I loved its return, however, I passed.
Chris Gray: Typically with niche properties, is it something that might get capital growth, or is it a function of that particular property?
John Edwards: Capital growth is a function of demand, and by definition, for a niche property the number of people who are going to look at it or bid for it is smaller. You are unlikely to get the same level  of capital growth out of it. These properties are return properties. Make sure you get a sufficient return to account for the fact that your capital growth is going to be less.
Chris Gray: Certainly the other downside you've got to think of is quite often the banks will treat these as commercial, so they might only lend 70% and there might be higher interest rates as well. This is not an investment for the everyday investor and will only suit a certain type of person that has extra cash for deposit and who wants a higher yield as well as some growth. It’s a fantastic yield in an ok area of a great suburb, so for some diversification I would purchase, subject to checking out some comparable sales to confirm price.
Chris Gray is a buyer’s agent at <a href="https://www.yourempire.com.au/">Empire</a>. He is host of Your Property Empire on Fridays on the Sky News Business Channel.
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Purchase or Pass? A one-title triplex Bondi Beach offering

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Just a year after its $25.7 million after its consolidation, the Blundy family have decided the Vaucluse compound is not for them.
The waterfront portion with a frontage to Kutti Beach has been listed with $20 million hopes through <a href="https://doublebay.ljhooker.com.au/KESF93" target="_blank">Bill Malouf at LJ Hooker Double Bay</a>. It's up for an expressions of interest campaign closing February 2013.
The Wharf Road property cost $17.75 million when the family also bought next door on The Crescent for $7.95 million.
The <a href="/news">Vaucluse </a>acquisition totalled over 2,000 square metres by retail entrepreneur Brett Blundy, the founder and owner of BB Retail Capital (including the Diva and Bras N Things chains), and his wife, Vanessa.
Title Tattle is unaware of any purchase by the family, but there is talk the family are off to Singapore. 
The family also sold their penthouse atop 7 Macquarie Street at Circular Quay, mid-year for $12 million to the Manassen family from <a href="/news">Mosman</a>.  The Blundys had bought the two-level penthouse for $12 million in mid-2007 from the businessman Warren Johns and his wife, Joan.
The five-bedroom, five-bathroom mid-1990s Vaucluse home was constructed for the television entrepreneur Michael Willesee, who sold for $10.3 million in 2000. The residence was designed by Ancher Mortlock and Woolley architect Ken Woolley with championship-sized tennis court and heated swimming pool occuping its elevated 1,597-square-metre block.
A September development application to Woollahra Council to reinstate the orginal lot boundaries after a consolidation of titles gave the clue to the short-lived harbourfront compound.
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Singapore looms as Blundy family list best bit of their $25 million Vaucluse compound

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REST Industry Super has paid $167.5 million for the Eclipse Tower in Parramatta.
The 19-storey A-grade development was sold Leighton Properties and Grosvenor Fund Management Australia just a month after its practical completion by builders John Holland.
<img src="/images/stories/2012/11/leighton.jpg">
Its sales reflected a 7.28% yield to the superannuation giant, which has $23 billion in funds.
REST recently repositioned its holdings with the sale of a smaller tower in Carrington Street, Sydney, for $58.5 million to Dexus.
REST chief executive Damian Hill said the fund’s property portfolio accounted for about 9% of its holdings, with both direct holdings along with units in wholesale funds.
Designed by Fitzpatrick and Partners, Eclipse Tower has a net lettable area of 25,660 square metres, anchored by QBE Insurance Group and professional services firm Deloitte, plus Landcom and Servecorp.
It was sold about 83% with an 18-month rental guarantee over vacant space.
Leighton Properties managing director Mark Gray said at over $6500 square metre, the sale cemented <a href="/news">Parramatta </a>as a location for institutional investment for prime grade commercial property.
Anthony Lombardo, head of office development at Grosvenor Fund Management, said the sale demonstrated the benefits of identifying and committing to potential growth areas outside of the Sydney CBD.
"Eclipse Tower has set a new rental level benchmark for Parramatta," he said.
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REST Industry Super buys Eclipse Tower in Parramatta for $167.5 million

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Since December 2011 a review of strata and community scheme law in NSW has been underway, and comments and submissions closed last week.
In 1961 it was NSW that enacted the world’s first strata title laws with the introduction of the Conveyancing (Strata Title) Act. In 1973 there was a major upgrade to the laws, and the Strata Titles Act was introduced.
When the current review was first announced more than 1,200 comments and some 600 suggested changes to current laws were received. NSW Fair Trading has issued a strata and community title law reform discussion paper, which highlights some of the key concerns the review is expected to address.
Some of the key points noted in the discussion paper are of vital interest to the ongoing development of the entire range of projects we are all involved with, and they cover a wide gambit of topics.
One of the key points is that the current legislation is a "one size fits all" approach, which experience demonstrates is a rigid and unrealistic approach given the variation is the size of projects. Clearly a small scheme of six apartments or homes is very different from a high rise that contains 100 or more apartments.
Red tape is another area the review may well address, as the discussion points out the original 29 provisions of the original law has now grown to more than 1,500 provisions covering 926 pages.
A need for a more flexible approach
It is interesting then to note that the discussion paper is also suggesting that greater flexibility is required for individual schemes.
Examples given in the discussion paper include pointing to the mandating of a particular colour scheme for outdoor furniture and the banning of Christmas decorations and flags.
Somewhat allied to this point is the very real need to balance personal freedoms and co-operative duties, because as we will all understand the move from a private freestanding home into a strata building or community projects is for many people a major lifestyle change.
This then leads onto the very real question of how so many competing interests in a scheme are best managed. Just think about the varied stakeholders that an owners corporation has to interact with – developers, owner-occupiers, strata managers, letting agents, tenants, selling agents, investors – are just a few.
And just like the red tape issues outlined there is clearly more room to use simple plain English in the new legislation.
Beyond these issues other major topics covered in the discussion paper cover governance and participation, these areas are very important, as there appears to be some reluctance for many owners to be involved with management of their owners' corporation.
One way to improve participation is the discussion paper notes a more deliberate focus on communications, which would for instance accommodate "virtual meetings" using Skype and teleconferencing. As technology moves this sounds like a logical and helpful idea.
In NSW 60% of schemes are managed by licensed managing agents and almost 100% of large schemes are managed by agents, making transparency and accountability key issues.
 
<hr class="system-pagebreak">
 
Urban renewal
Urban renewal in the area of project development and project marketing are topics of particular interest, because the redevelopment of existing strata schemes needs to be facilitated as the current act is often a barrier to change and redevelopment.
And so a review of the law in this area may directly impact future redevelopment and urban consolidation efforts – in a forthcoming post I will be talking with Shane Dargue from Colliers International in Melbourne as Shane’s work focuses on major site sales and acquisitions, which is an area that impacts opportunities in many markets.
A fourth level of government
The full discussion published in September can be sourced via the NSW governments Fair Trading website, and I will not go into all of the details it covers. However, most of the key issues will not come as a surprise and many make interesting reading.
According to a recent study by the University of NSW looking at the experiences of the estimated 3 million people who live in strata-title dwellings, there are many and varied issues with strata living which the current review aims to address.
Lead author of the study Governing the Compact City: The role and effectiveness of strata management is Dr Hazel Easthope, research fellow at the City Futures Research Centre at UNSW’s Faculty of The Built Environment.
She said a quarter of Sydney people now live in what is virtually a fourth tier of government, as strata dwellings set laws and impose taxes on residents.
Where to from here?
From the many topics outlined above there are many and varied issues to address. Some of which are very close to home and can involve a high level of emotion, as more people live in less space and as lives overlap this will be an ongoing and important issue that we all need to be involved with.
However as far as the timetable to complete the current review, meet with key stakeholders and draft new legislation, the final bill is then expected to be introduced into the NSW Parliament in the spring session 2013, but I expect we will return again to many of these issues before then.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
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