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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{yoogallery src=[images/stories/december9mosman]}
A three-bedroom Mosman home designed and owned by architect Stan Symonds has been on the market since October 2008 and recently withstood two legal attacks on its leafy garden.
The Oswald Street home has two bathrooms, a large family room and a two-car garage. It has an open-plan lounge and dining area opening onto a terrace garden.
The house sits on a 601-square-metre block of land overlooking Reid Park and Mosman Bay.
The garden surrounding the architect’s home is the showcase of the house. Thick vegetation surrounds the home and keeps it hidden from the street. Kaffir Plum, Jacaranda and Hackberry trees frame the view from the living room.
<a href="https://www.propertyobserver.com.au/residential/two-more-mosmanites-fail-to-lop-their-neighbour-s-trees/2011112452521">Last month neighbours attempted legal action against Symonds contending that his trees blocked their views of the harbour and might damage their property</a>. The trees remain safe with the court dismissing both cases.
The home even features a rooftop garden with fish pond and cabana.
David Smeallie from Belle Property Mosman has the listing, with current a current price hopes of more than $1.5 million, down from $1.69 million in October and $2 million in 2009.
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Organic Mosman apartment on the market

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The development application for a nine-storey replacement to the former Ritz Carlton/Stamford Plaza hotel site at Double Bay has been unanimously approved by the Sydney East Joint Regional Planning Panel as long as the developer makes it eight storeys.
The panel considered the application for the long-dormant Cross Street site at a public meeting held at Woollahra Council Chambers.
<img src="/images/stories/cinemadoublebay2.jpg">
The development proposal is for the demolition of the former Ritz Carlton/Stamford Plaza Hotel and construction of a residential complex <a href="https://www.propertyobserver.com.au/new-south-wales/palace-to-bring-popcorn-back-to-double-bay/2011082351268" target="_blank">with mixed-used cinemas and retail on the ground and first floor levels</a>.
Woollahra Council planning staff had recommended conditional approval.
The development was approved in accordance with the staff recommendation but with a new condition requiring the sixth level to be removed from the building, reducing it to eight storeys.
The project under previous owner Ashington stalled in 2009 when public demonstrations were held against the proposed 14-storey high-rise development.
<img src="/images/stories/cinemadoublebay3.jpg">
Ashington took the application without success to Minister for Planning Kristina Keneally after concluding the council would never deviate from demands that it claimed rendered the project financially unviable.
The former mayor of Woollahra Keri Huxley described Ashington's proposal as "tantamount to a Surfers Paradise on Sydney Harbour". Ashington proposed development, at 52.4 metres, was more than three times the 16.5-metre limit imposed by planning controls.
The current mayor, Susan Wynne, welcomed the eight-storey development.
"I am thrilled, it’s an exciting time for Double Bay with the approval of this development.
"Along with the proposed Kiaora Lands development currently on public exhibition till 15 February 2012, these two sites could inject approximately $140 million worth of investment into the area as well as create jobs for the local community.
"Council has always been supportive of a cinema returning to Double Bay as this is a major drawcard for residents and visitors.”
The latest development has been fronted by Kevin McCabe, the founder and chairman of Scarborough Group International, a real estate and leisure activities group wholly owned by the McCabe family.
The joint planning panel was chaired by John Roseth. It heard some 20 ratepayer rejection requests from Keri Huxley, Michael Rolfe,  Barry Lewis, Susan Shaw and Philip Mason. Frances Keevil addressed the panel in favour of the item, along with Greg Solomon.
The development has been designed by architectural firm PTW.
The nine-storey application hit some resistance when earlier this month Woollahra councillors considered the assessment report from planning staff and resolved to advise the Joint Regional Planning Panel that the application should be refused for reasons relating to excessive height, bulk and scale and non-compliance with the council's planning controls.
The $67 million project was for demolition of the existing building from ground-floor level, retention of the basement carpark for 154 vehicles, construction of a mixed-use development with retail tenancies and a five-cinema complex for approximately 600 people which occupies the ground and first floor levels and seven levels of residential above containing 74 units (a mix of one, two and three bedrooms).
It will now be one storey less if the developers proceeds.
Architect's impressions by PTW Architects
 
 
 
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Double Bay cinema and residential project approved after planning panel cuts it down to size

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{yoogallery src=[images/stories/december14holly]}
Actress Holly Brisley, best remembered for her role as a troublemaker on Home And Away, and her property investor husband, Paul, have listed their Bondi Beach abode.
The couple were among the 2006 buyers who snapped up an off-the-plan apartment in the Bondi complex, the apartment block on Campbell Parade that replaced the Bondi Beachside Inn.
They are now seeking $7 million plus for their opulently appointed half-floor residence through Steven Chen and Elizabeth Brunton at McGrath Estate Agents.
It has views that stretch across the beach and bay from North Bondi to Tamarama from the northern side of the building
It has three bedrooms all with ensuite bathrooms, and its luxurious appointments feature custom American oak joinery.
There’s also C-Bus 2 intelligence system with automated blinds and curtains. The couple are understood to have their eye on an off-market house-buying opportunity elsewhere on the coastal eastern suburbs strip.
A few floors down in the same block, Little Joe fashion salon owners Gail Elliott and Joe Coffey are also seeking buyers for their huge apartment overlooking Bondi Beach.
They paid $6.75 million for the 486-square-metre The Bondi apartment with a huge deck off the plan in 2006 and are now seeking more than $8 million for the property. It’s being sold through Steven Chen in conjunction with Barry Goldman of Raine &amp; Horne Double Bay.
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Home and Away actress Holly Brisley lists in Bondi Beach

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The penthouse on top of the Ritz at Cremorne Point has been sold.
Its price has not been disclosed, but a $7 million offer was recently rejected, with those buyers instead securing a $5.5 million house nearby.
It sold through LJ Hooker Mosman agents Geoff Smith and Richard Harding.
The Milson Road penthouse, with four bedrooms and six bathrooms, spreads over 400 square metres.
It includes a rooftop terrace and garden with space to entertain 300 guests.
The property was purchased by a local retired couple who will undertake internal renovations and redecorating before taking up residence.
The penthouse has been two apartments joined together, while retaining two kitchens.
The new owners intend to reconfigure the space so it becomes one purpose-built penthouse reflecting their own taste and style.
The building’s recreation area is resort like with limestone walls and extensive facilities, including pools, gyms, squash court, sauna, spa and steam room.
The entire building has just completed a major restoration to the tune of $1.5 million.
“The incoming purchasers saw the current world economic turmoil and the fact that the property  was in the hands of Taylor Woodings as receivers and managers, as providing an extraordinary opportunity to secure a unique and dramatic penthouse of enormous proportions at a very attractive price,” Smith says.
“When finished the new owners will have arguably created the biggest and best penthouse in  Sydney in a prestigious and completely restored building,” Harding adds.
It was listed through the receivers after the developer, Simon Symond, who was weighed down by a stalled shopping centre project at Toongabbie, lost control of it during the global financial crisis.
The penthouse, which took Symond a decade to develop, was completed in 1996.
Symond bought The Ritz site for $3 million in 1986 when it was a rundown boarding house accommodating 90 tenants paying about $50 a week.
It sold through LJ Hooker Mosman, who had its listing in conjunction with Colliers International Hong Kong agent James Hall in case there was any offshore interest.
It’s understood the sale fell short of $9 million, which was the aim its 2010 marketing campaign, and a north shore apartment record.
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Ritz Cremorne Point penthouse to get renovation after sale to retirees

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Former NSW lands minister Tony Kelly faces the prospect of criminal charges after the Independent Commission Against Corruption found he acted corruptly over the purchase of the Pittwater property, Currawong.
The NSW corruption watchdog has found Kelly "engaged in corrupt conduct" earlier this year involving the $12.2 million purchase.
ICAC commissioner David Ipp has advised the state government to consider launching criminal charges.
The former workers’ retreat at Currawong had a troubled planning history, having been sold by Unions NSW to a private developer, Eco Villages, in controversial circumstances in 2009.
Less than a fortnight before this year's state election, and despite lacking authority from the former NSW premier Kristina Keneally, the former chief of the Land and Property Management Authority Warwick Watkins bought the land for public use in March much to the joy of conservationists.
The report tabled in Parliament found Watkins engaged in corrupt activity when he asked Kelly to sign a backdated letter that gave him permission to buy a property, Currawong, without the government’s consent.
The nostalgic 20-hectare Pittwater beachfront site is where union workers have holidayed since 1949.
There was wild talk of its $20 million value in boomtime 1988 when the Labour Council was under the control of John MacBean.
In 1990 the NSW Trades and Labour Council overturned its decision to sell its Currawong Beach site to the property developer CRI for $3.87 million.
It was relisted in 1991 by Michael Easson's Labour Council of with private residential potential or small leisure resort possibilities, and spruiked by Macquarie Bank's Rob Lee.
In 1999 Michael Costa, who was then the Labour Council secretary, tried unsuccessfully to negotiate a 99-year lease with the transcendental meditation group Maharishi TM Incorporated.
In 2006, three days before Christmas, Allen Linz and Eduard Litver lodged documents with the Land Titles Office for the Currawong beach cottages, which are surrounded by national park, under the company name Echo Villages Pty Ltd.
A spokeswoman for the Friends of Currawong, Jo Holder, accused the then secretary of Unions NSW, John Robertson, of deliberately putting the land in private hands after a long campaign to retain it for public use.
 
 
 
 
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Former NSW lands minister Tony Kelly faces criminal corruption charges over government's Pittwater land purchase

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{yoogallery src=[images/stories/november14hawkins]}
The Coogee home of Jennifer Hawkins, the former Miss Universe, television personality and swimwear designer, and her fiance, Jake Wall, was passed in at weekend auction on a $2.5 million vendor bid through McGrath agent Adrian Bo.
It’s now listed with a $2.6 million asking price.
The couple moved out of the Moore Street townhouse several months ago – staying at The Star casino in the interim – while waiting for construction of their northern beaches home to be completed in the Windy Dropdown gated estate.
<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/new-south-wales/model-jennifer-hawkins-coogee-pad-finally-hits-the-market/2011111452342" target="_blank">The 2003-built Coogee property</a> has three bedrooms and three bathrooms. It cost Hawkins $2.27 million in late 2008.
The main bedroom comes with ensuite, dressing room and terrace. One of its ultra-modern bathrooms has a Japanese agape spoon bath. Its third bedroom could be a home theatre or home office.
There’s a private rooftop terrace with ocean views as well as a cellar – all a stroll to Gordon’s Bay and Coogee and minutes to shops, cafes and transport.
Much of the house, including a feature wall of Florence Broadhurst-style wallpaper, pre-dates Hawkins’ 2008 purchase.
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Jennifer Hawkins' Coogee home passed in

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{yoogallery src=[images/stories/december9mordant]}
Arts guru merchant banker Simon Mordant is the reputed $11 million buyer of the garden apartment in the recently completed Buckhurst block in Point Piper.
The ELK development group secured $68 million in sales of the <a href="https://www.propertyobserver.com.au/residential/luxury-buckhurst-point-piper-block-sells-out/2011112552548" target="_blank">six harbourfront Buckhurst Avenue apartments</a>. The whole-floor units were designed by architect Alex Popov, with interiors by Ruth Levine Designs, following two years of construction.
Simon and Catriona Mordant have been living in Darling Point for the past 24 years, with almost a decade in a two-storey hillside triplex penthouse developed by Ron Powell to a design by Peddle Thorp and Walker.
Their current abode, which cost $5.25 million in 2002, had 245 square metres of space plus 95 square metres of terraces.
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Art aficionado merchant banker Simon Mordant reputedly buys in Point Piper

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{yoogallery src=[images/stories/december7pymble]}
The 1902 Pymble residence sometimes known as Abia and also Coromandel has been listed for December 14 auction, sitting among the last wave of pre-Christmas auctions.
The Church Street house, which comes with five double bedrooms – three with handy fireplaces – is tipped by its McGrath agents to fetch more than $4.25 million.
Its main bedroom leads to a veranda, study/library (with marble fireplace) and a return veranda with views. The large in-ground pool has sandstone surrounds and a gazebo, and the property is set in landscaped gardens (by Gordon Sykes) on about 1,566 square metres with a northerly aspect. The Federation house on a quiet street catches views of the city skyline and Lane Cove valley.
It is also within easy access to a number of schools including PLC, Knox, Barker, Abbotsleigh and Pymble Public School.
It last traded at $3 million in 2002.
Its listing agents are Carole McCrea and Philip Waller from McGrath in conjunction with McConnell Bourn agent Matthew Bourn.
There have been about 90 house sales this year in Pymble at a $1.4 million average price, according to RP Data.
The suburb's highest disclosed sale price was $2.88 million on Taunton Street in February this year although a Bobbin Head Road house sold for about $4.1 million in April, on which RP Data yet to record its sale price.
The sales history
1975    $116,000
1986    $540,000
1988    $1.1 million
1996    $1.1 million
1998    $1,805,000
2002    $3 million
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Pymble listing aims for year high as auctions continue well into December 

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“Stalled”, “subdued”, “dreadful”, “a year to forget” is how valuers from Herron Todd White have described the performance of Australia regional retail property markets in 2012.
Herron Todd White’s team of valuers cast their eye across markets from NSW’s Southern Highlands to the Gold Coast to south-western WA and found very few bright spots as regional centres took a hit from an overall drop in consumer confidence and a “flight to safety” mentality among buyers seeking primarily blue-chip investments.
In the NSW Southern Highlands, the market remained “subdued throughout 2011 with most retailers feeling the pinch from weak economic conditions”.
“Although relatively stable, the market has not fully recovered since the GFC,” the December report says.
“Current conditions are reflected in the vacant shops now evident along prime strips such as Bong Bong Street in Bowral.”
Despite the poor year, the outlook appears bright, with Coles buying the 4,936-square-metre Oxley Mall in Bowral for $14.75 million in May with plans for renovation and expansion.
In June, the Charter Hall Retail REIT acquired 50% of the Highlands Marketplace, in Mittagong, for $23.6 million from Woolworths, at an initial yield of 8.1%. The sub-regional shopping centre comprises 8,241 square metres and 790 car spaces and is anchored by Woolworths and big W with 36 speciality retail shops.
East of the Southern Highlands, the Wollongong retail market was dominated by the “on again, off again, on again drama” surrounding the GPT West Keira development.
The West Keira development is a $200 million project to expand the Wollongong Central shopping centre by 18,000 square metres adding 80 specialty stores.
“While latest reports suggest GPT has committed to moving forward with the project, many are still sceptical,” says HTW.
“This mirrors in personality of the current economy with 2011, which will be remembered for its high level of volatility, primarily in the global financial markets. There is no doubt economic uncertainty and volatility have had an impact on the local retail market.”
Projects that did proceed include the commencement of Stockland’s Shell Harbour shopping mall expansion.
There Wollongong City Council is also examining plans to revamp Crown Street Mall, which is in need of an upgrade. However, the proposal remains stalled with vehicle access ruled out.
In nearby Newcastle, HTW reports that the retail market “appears to have stalled under the weight of stock on the market with the GPT owned Hunter  Street  mall sites, failing to sell to local developers Buildev and now been marketed as eight separate blocks
Moving across into regional Victoria, local small retailers have advised HTW that 2011 is a year they would rather forget with the refurbishment of the Langtree Mall, the town’s retail hub taking most of the year to complete and having had a “detrimental impact on shopping patterns in the city heart to the advantage of Mildura’s Centro regional shopping centre”.
In Echuca on the Victoria/NSW border, the commercial market experienced difficulties but the year was punctuated by sales of several landmark properties including the Old Flour Mill and a number of other CBD shops at yields around 7%.
Giving an indication of the state of the retail market, the Campaspe shire has received an offer of $2.38million for a site it previously acquired in May 2006 for $3.06million.
On the Gold Coast, the 2011 sales market was dominated by sales under instruction by receivers and managers, as more and more owners have been pushed to their financial limit.
“This has resulted in a greater number of sales during 2011 as vendors are forced to meet the market rather than hold out for better days,” says HTW.
There were some signs of better things to come in 2012 with investors started to come back into the market towards the latter part of the year “with a shift in focus to service type locations, such as the old fashioned local convenience centres”.
“We noted a sale of the Mount Coolum Shopping Centre, anchored by an IGA, which achieved a sale price of $6.1 million with an analysed yield of 9% and a weighted average lease of 2.1 years.  Agents reported that interest in this type of asset had improved during the year.”
In South Western WA, the overall the retail property market was subdued during 2011 with very few sales occurring.
“Most retail properties are tightly held and the limited supply has helped to balance the weak demand,” according to HTW.
“Like many areas around the country, business performances in the small retail sector have been poor.
“As a consequence, rental rates and demand for retail space has fallen, with most retail markets in the towns of the south-west having experienced increased vacancies during the year. This is particularly evident in the Bunbury CBD where currently there are a higher number of vacancies than experienced for quite some time.”
At present, prime street front shops in Bunbury’s CBD can be rented for $250 per square metre net per annum.
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Regional retail property had a 'year to forget' in 2011: HTW

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An architecturally significant Rose Bay duplex apartment has been sold for about $5 million.
It’s atop the landmark 1961 building at the corner of New South Head and Beresford roads.
The-700-square-metre penthouse of Peter Kotzias and wife Kathryn has been sold through McGrath agents Paul Ephron and Steven Chen.
The apartment occupies the two top floors of a building designed by Ken Willoughby for the Auswild car dealer family. Newly updated by Weir Phillips Architects with interiors by Pyke Designs, the four-bedroom, four bathroom-apartment has 370 square metres internal space plus a 328-square-metre terrace opposite the harbour.
At street level it comes with a private lobby with a lift connected directly to both levels of the penthouse. It last sold at $3.63 million in 2007.
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