<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

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

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

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

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

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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;">
Just because billionaire developer Bob Ell has abandoned plans to build on his 4,397-square-metre, four-lot Cremorne harbourfront doesn't mean the days of the mega-mansion are over.
Indeed, Title Tattle has spotted something quite special happening at Bronte.
<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/2013/02/bronte.jpg" alt="bronte" width="470" height="351">
The funds manager Seumas Dawes and his wife, Rosemary Seaton, initially spent $12.3 million for a large, modern three-storey residence in 2006. One of the most expensive coastal suburbs in the east,  the <a href="/news">Bronte</a> property sits along the exclusive strip known as The Cutting. It was a modern five-bedroom residence on the ocean side of Bronte Road overlooking the beach and ocean.
<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/2013/02/bronte1.jpg" alt="bronte1" width="470" height="351">
Then earlier this year the couple splashed out with the $16.5 million purchase of the neighbouring house, which they're set to bulldoze.
<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/2013/02/bronte3.jpg" alt="bronte3" width="470" height="341">
Weir Phillips Architects are undertaking the 672 square metre works, which include extensive undercover garaging on the newly acquired block, (above right with palm tree) which will have grounds prepared by Formed Gardens. The new works which include gym and cabana, improve the neighbouring contemporary houses's north eastern aspect. It's only going to cost $846,000 apparently, which will take the spend to $29.6 million.
<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/2013/02/bronte2.jpg" alt="bronte2" width="470" height="351">
The total holding is the original 801 square metres plus the latest 778-square-metre acquisition.
Dawes, the one-time adviser and private secretary to the former 1980s Federal treasurer Paul Keating during the era of banking deregulation, and his Albury-born partner, Seaton, were Hampstead, London-based on their initial 2006 acquisition.
It was bought from from Christina Patterson, who built a modern house after consolidating two blocks.
Dawes is an old boy of the NSW Right, having been assistant secretary of the NSW ALP from 1983 to 1985.
Title Tattle recalls that after quitting Canberra in 1989 for the heady world of merchant banking, Dawes spent time with Faye Richwhite, Merrill Lynch, Paribas and then at Ashmore, the London-based emerging markets fund management business since 2000. He's the senior portfolio manager and member of investment committee at <a href="https://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?capId=6234478">Ashmore Group PLC.</a>
The couple's previous home in Sydney was sold for $640,000 in 1999.
<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/2013/02/ell1.jpg" alt="ell1" width="470" height="221">
<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;">Back to Bob Ell, whose company, Leda Holdings, has listed the building blocks (above and below) that come with permission for a nine-bedroom house with two pools on its 4,397-square-metre holding.
<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/2013/02/ell2.jpg" alt="ell2" width="470" height="305">
<a href="https://www.randw.com.au/749071/" target="_blank" rel="nofollow">It is one of the largest waterfront properties on the north shore</a>. Offers are due March 12.
"Approval is in place for the construction of a 2,739-square-metre home of extraordinary calibre presiding over its exclusive waterfront position," says the marketing.
"Our strategy initially is to target the Chinese market both locally and internationally," says listing agent Richard Simeon of Richardson &amp; Wrench.
<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/2013/02/ell4.jpg" alt="ell4" width="470" height="381">
The $12 million scheme includes a rooftop tennis court with a retractable fence and parking for eight cars.
<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/2013/02/ell3.jpg" alt="ell3" width="470" height="305">
"Masterfully conceived, the one-of-a kind residence features such remarkable amenities as a guest house, caretaker's house, two pools, N/S tennis court, gym, billiard room, home theatre and office whilst still enjoying over 1000sqm of level lawns and garden," the R&amp;W advertisement says.
"With Laurie's Sutton's recent sale at 10 Bay Street Mosman for $20 million we have expectations of early to mid-$20 millions," Simeon told Property Observer. 
They will try to find a buyer in one line.
Simon Clausen, who debuted on 2009's BRW Rich List with a $180 million fortune after selling his software company, PC Tools, was another high-flyer who spent big on residential consolidation. Clausen outlayed $31 million between 2008 and 2009 consolidating three adjoining Balmoral Slopes properties. The adjoining properties with direct views out towards Sydney Heads included a since demolished new home that was sold by developer Albert Bertini, onetime star of The Secret Millioniare. But the bulk of the 3,180 square metre site amalgamation has been offloaded as he know spends most of his time overseas. He retains the heritage home that cost $12 million in 2009.
 <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 real battle for mega-mansion is between media tycoon scions James Packer and Lachlan Murdoch.
Lachlan Murdoch's Bellevue Hill mansion Le Manoir is undergoing works that exceed a $10 million spend. 
Lachlan and Sarah Murdoch's Le Manoir, the 1928 Bellevue Hill estate, began with the $23 million outlay in late 2009. They also spent $2.63 million on an adjoining property in 2010.
The SJB architectural plans approved by Woollahra Council <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/residential/lachlan-murdoch-calls-in-the-renovators-with-%2411.6-million-plans-for-bellevue-hill/2011111152328" target="_blank">were for an $11.6 million redevelopment</a>. That's $34.6 million.
It involves alterations and additions to the existing mansion plus a new pool and pool house. It includes "construction of a new garage with security access areas with subterranean access to the dwelling". Underground appears vital for mega-mansions.
<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/2013/02/packer.jpg" alt="packer" width="470" height="351">
James Packer is doing his Batcave-style security fortress set-up too out at Vaucluse, (pictured above and below) and that building contract could be many times dearer than Murdoch's. The furniture delivery trucks started arriving this week out in Vaucluse.
It was 2009 when Packer and his wife, Erica, lodged their plans for the $11.4 million Tzannes Associates makeover and extension to the 1972 landmark Guilford Bell house at Vaucluse. The Packers engaged the University of Melbourne professor of architecture, Philip Goad, as a consultant. Goad wrote a chapter in the 1999 book on Bell, whose clientele was drawn from a who's who of the establishment.
Bell designed another Packer family home, the now demolished Hordern House at Point Piper, which was eventually replaced by the John Symond house.
The Packers bought the hillside 2374 square metre Vaucluse property from the executors of the estate of the oil shale pioneer Sir Ian McFarlane for $18 million, then added another two blocks which allowed for their innovative underground wing. The extra land cost $12 million adding 985 square metres to the property.
The official tally comes to $41.4 million for the Packers. Ofcourse at Cairnton, the family's Bellevue Hill fiefdom, the Packers made nine separate acquisitions since the original purchase in 1935 by James Packer's late grandfather, Sir Frank. These have cost about $9.1 million.
 
<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/2013/02/packerreno.jpg" alt="packerreno" width="470" height="351"> 
 
 
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jchancellor-FAypfDUnLy

A cut above the rest – the era of Sydney mega-mansions far from over: Title Tattle

It seems Andrew Winter and his team may have done too thorough a renovation in Wollongong, as the owners decided just before auction to withdraw the property from sale and move back in.

<img alt="newdapto" height="353" src="/images/stories/2013/02/newdapto.jpg" width="470" />

&quot;They did too good a job,&quot; says listing agent Michele Lay of Ray White of the Selling Houses Australia team. &quot;If you see it on Selling Houses Australia you&#39;ll see how beautifully it came up.&quot;

The episode featuring the Wollongong house aired on Wednesday, and the auction was supposed to take place in September last year. The house was on the market for some months last year, says Lay.&nbsp;

The marketing had said &quot;With a realistic vendor and all the hard work done for you; this house MUST BE SOLD&quot;.

A short walk to the Wollongong CBD, the three-bedroom cottage last sold for $185,000 in 1999 and was on the market briefly in 2006, according to RP Data. The Selling Houses Australia team added new&nbsp;paint throughout, new blinds, new doors, new light fittings, new taps and a revamped kitchen and outdoor entertainment area. Lay says it could have attracted a rental of up to $460 per week. In 2009 it was listed for rent for $400 per week.

[smartcode_project:default project_id=31751 project_image_fid=160996]

Lay&nbsp;was marketing the property with price hopes of $399,000 plus.

The median house price in Wollongong fell 9.9% in&nbsp;the past year but rose 10.5% in the past five years, according to RP Data.

For more about prices and yields in&nbsp;<a href="/news">Wollongong, see the&nbsp;RP Data suburb page.</a>

For real-life property lessons from reality TV shows, download our free eBook&nbsp;<a href="http://propertyobserver.com.au/ebooks/free-ebook-lessons-from-the-block-and-other-property-reality-television-shows" target="_blank">Lights, Camera, Auction!</a>

cknowlton-QnEa6ntUYP

Wollongong vendor decides to move back in after Andrew Winter's work is done

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Over the last decade or so, petrol prices have more than doubled and the amount of available and accessible agricultural land has decreased mainly due to suburban sprawl extending further and further away from the major city centres where the majority of our population reside. This invariably has placed cost pressures on the price of fresh produce, increases the environmental impacts through greenhouse gas emissions and puts pressure on the cost of living. To combat this, the most sensible option would be to bring accessible agricultural land closer to the city centres however a combination of high land prices and a shortage in suitable farming land makes this option close to impossible to achieve.

<figure><a class="colorbox colorbox-insert-image gallery-all" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/NYC%20farm.jpg" rel="gallery-all" title="Eagle Street Farms overlooking New York City. Image credit: rooftopfarms.org"><img alt="" class="image-article-full-width-580px" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/NYC%20farm.jpg?itok=DSivgd2p" title="Eagle Street Farms overlooking New York City. Image credit: rooftopfarms.org" typeof="foaf:Image"></a>

<figcaption>Eagle Street Farms overlooking New York City. Image credit: rooftopfarms.org</figcaption></figure>Roof-tops are generally seen as the most ideal locations for setting up farms as they are usually the least occupied areas and have generous amounts of sunlight and rain which are essential to a thriving garden. In recent times, there have been many initiatives to incorporate community gardens in existing areas and residential buildings including the Pop-Up Patch located at the Federation Square car park where inner city dwellers rent out veggie patches made from apple containers and pay a modest fee. Another noteable example is the Eagle Street roof-top farm located on a warehouse roof in Greenpoint, Brooklyn in New York City (pictured above). According to the farms fact sheet, the farm comprises of an approximate area of 6,000 square feet (approximately 557 square metres) and provides ultra local fresh produce to the North Brooklyn community along with providing educational programs on how to grow and maintain an urban farm. Furthermore, the initial start up costs for getting the farm up and running was approximately AUD$9.52 per square metre (USD$0.90 per square foot based on a conversion rate of $1 AUD to $1.05 USD) however it was noted that this costing was far cheaper than a standard installations due to the use of recycled materials where possible.

The aforementioned examples demonstrate how existing structures could potentially be utilised to incorporate roof-top farms however the next challenge is to incorporate these roof-top farms into new developments and potentially introducing planning policies or state government tax cuts to encourage developers to incorporate community farms into proposed residential developments. Some of the potential benefits for such initiatives could include:

<ul>
<li>Local food production for the community living within the residential building which will be available to all residents and could even potentially be used as a source of income.</li>
	<li>Increased community engagement by residents with them working together to care for the farms.</li>
	<li>Increased health and well-being.</li>
	<li>Reduced rainwater run-off from the roof as the water will be either captured in the garden beds and/or captured in rainwater tanks which could be used during the drier months of the year.</li>
	<li>Environmental impact may be reduced due to the elimination of the need to transport the produce from a farm in a provinicial area to the city centres.</li>
	<li>Through the use of educational programs, residents can learn new farming skills and pass those skills onto others.</li>
</ul>
A group of Melbourne urban professionals teamed up recently to consider the viability of establishing an urban rooftop farms. Inspired by the <a href="/new-apartments/melbourne-vic">City of Melbourne</a>'s ambitions to be a "green city"; Pippa Howard, Nicky Scheltus and Alex Houlston have combined their powers along with Russell Hughes, to come up with a plan to develop a sustainable rooftop farm. "imagine rooftop gardens and other dead spaces being put to use growing fresh fruit and vegetables for sale to city swellers" said Pippa, an architect and part time lecturer in environmental design.

The group is preparing a business model for developing an urban farm over the Queen Victoria Market car park which is approximately 2.5 hectares in area. "The Queen Victoria Market is a fantastic case study of how you can make a city much more self-reliant in terms of food supply as well as creating a vibrant and exciting urban space" said Alex who has a strong background in urban design. Further: "Our case study will examine opportunities such as building a lightweight, tiered structure on top of the car park, or potentially redeveloping the site for the community's advantage with a rooftop produce garden, bio-digester and cogeneration boiler. The goal would be to provide food products to vendors at the market for a management fee, meaning we would not compete with stallholders and we would save on transportation costs and emissions".

This is one example of how under-utilised spaces in inner city Melbourne could be activated into productive, vibrant areas.

Further to this, recent residential proposals, in particular the <a href="/new-apartments/footscray-vic-3011">Footscray</a> Market Redevelopment which will be constructed by <a href="/builders/hacer-group">Hacer Group</a> and due for completion by 2014, comprises a two stage redevelopment including the refurbishment of the existing Footscray Market and the addition of a five storey residential component built using an ultra light weight steel frame. The communal courtyard incorporates a sun filled roof top farm which looks back to the areas history as a fresh produce market whilst looking forward as a sustainable inner city farming solution.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/project4.jpg" rel="gallery-all" title="Proposal Footscray Market Redevelopment including communal roof-top farms. Image credit: http://www.bureau-ua.com/footscray"><img alt="" class="image-article-full-width-580px" height="891" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/project4.jpg?itok=i4KfL0kn" title="Proposal Footscray Market Redevelopment including communal roof-top farms. Image credit: http://www.bureau-ua.com/footscray.html" width="580"></a>

<figcaption>Proposal Footscray Market Redevelopment including communal roof-top farms. Image credit: http://www.bureau-ua.com/footscray.html</figcaption></figure>Although roof-top farming can be seen as simple and easily applicable response to Melbourne's sustainability vision, the biggest challenge for stakeholders and policy makers will be engaging and motivating our community to see these types of approaches as the "way of the future" and as a necessary "way of life". However in my opinion, I believe that in the not too distant future that these types of initiatives will be a necessity rather than a option as we grow into a more sustainable, urbanised Melbourne.

<h2>Sources and further reading</h2>

<ul>
<li>http://www.csl.org.au/2009/11/urban-farming/</li>
	<li>http://www.nockdoig.com.au/diy-rooftop-gardens/</li>
	<li>http://www.bureau-ua.com/footscray.html</li>
	<li>http://rooftopfarms.org/</li>
</ul>
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flame

Roof-top farming: Part of the future of inner-city living

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The GPT property group remains committed to pursuing its cherry picking bid for parts of rival, Australand's businesses.

GPT made a $3 billion takeover offer for two thirds of rival Australand's businesses last December, but was rebuffed.
The reaffirmation came today as GPT unveiled its surge in full year profit.
The chief executive Michael Cameron said an Australand offer was still in the works.
"We are committed to advancing a proposal that's going to be in the best interest of Australand and GPT security holders," he said.
GPT Group has gained a big uplift in profit because of a strong operational performance and an rise in underlying values.
Net profit after tax rose to $594.5 million in the full year ending December 31 from $246.2 million with Michael Cameron saying the group again exceeded expectations.
The GPT net tangible assets were up 3.9% helped by a big rise in the value of Melbourne Central in the second half.
The GPT retail portfolio has a 99.5% level of occupancy with the retail portfolio achieving comparable income growth of 3% over 2012.
 
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GPT still wants Australand bits as GPT profit surges

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Property group Mirvac’s first half profit has dropped 69% with massive writedowns on its development projects.
Mirvac made a net profit of $55.2 million in the six months to December 31, down from $176.6 million in the previous corresponding period.
"The outlook for capital city residential markets remains mixed by location, however underlying factors underpinning the residential property market continued to improve through 2012," its chief executive Susan Lloyd-Hurwitz advised.
"Lower borrowing rates, rising household incomes and weak property prices contributed to an advance in housing affordability, while population growth also picked up sharply.
"Whilst there has not been a material uplift in demand to date and purchasers maintain a cautious position, the stronger fundamentals should result in a further improvement in the residential property market, with the trend towards medium density living continuing, particularly in the south eastern states.
"A low rental vacancy rate and strong rental growth are evident of strong underlying demand in NSW.
"Population growth picking up, affordability improving and state measures directed towards boosting the demand for new dwellings, suggests a further uplift in the residential housing market is likely to be forthcoming," she said.
In Victoria Mirvac noted the strength of the Australian dollar had continued to exert pressure on the Victorian manufacturing sector and, as a consequence output and employment.
"Even though medium density approvals have been growing strongly, the Victorian property market is likely to under perform the other main states particularly in some segments characterised by oversupply," she said.
In the Queensland property market, while it had been adversely impacted by a number of one-off factors, Mirvac noted growing signs the influences which underpin the market are becoming increasingly more tangible. "This points to a medium term improvement in the property market, although state government spending and employment measures will continue to dilute the recovery in the short term," she said.
Thesharp uplift in population growth had meant the WA property market has experienced an improvement in dwelling volumes and firmer pricing in low to mid price points.
"Short-term prospects for the property market are expected to remain favourable as the increased demand in absorbed," she said.
Longer- term prospects in WA will remain dependant on the extent and duration of the resources cycle, Susan Lloyd-Hurwitz added.
With its investment property occupancy remaining high at 98.2%, there was a 1.1% increase in its total investment property revaluations.
The group completed 193 leasing deals over 85,632 square metres of net lettable area, representing 6.4% of the investment portfolio.
It also has progressed on with its commercial developments including Treasury Building in Perth WA where works commenced on the 30,000 square metre office tower, that will house the WA Government which has pre-committed to a 25 year lease across the whole tower.
The company last week announced it would write down the value of developments in Queensland and Western Australia by $273 million.
Susan Lloyd-Hurwitz said Mirvac’s underlying performance was in line with expectations, and the company was on track to deliver its previously forecast full year operating earnings of about 10.7 cents per security.
Mirvac told investors the volatility created by the European debt crisis and US budgetary issues dominated international capital markets for the six months to 31 December 2012, resulting in funding costs remaining elevated.
"There will be limited impact of these events on the group’s borrowing costs for the next six to 12 months, allowing time for conditions to stabilise before any refinancing is required.
<div>"The group remains focused on managing its capital position prudently by monitoring and accessing diversified sources of capital, including both domestic and international markets," the report said.  
</div>
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Mirvac profit slumps with residential outlook mixed but improving excepting Victoria

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The Queensland Investment Corporation has reportedly bought entrepreneur John Longhurst’s share in the Logan Hyperdome shopping centre for about $336 million.
The Australian Financial Review reported the deal at around $350 million had been finalised reflecting a yield in the low 6% range.
RP Data shows December 18, 2012 documentation of involving $168 million transactions.
Property Observer notes it was 1990 when Longhurst paid $200 million for developer Bob Ell's then 12-month-old shopping Taj Mahal.
QIC Global Real Estate now owns the entire 82,500 square metre centre which is located south of Brisbane.
The AFR met a brickwall when QIC Global Real Estate managing director Steven Leigh declined to comment on the transaction, saying as a leading institutional investor, QIC Global Real Estate’s operations are "commercial in confidence.”
The industry bble, Shopping Centre News’ annual “Big Guns” report, the Logan Hyperdome is ranked as the 35th largest shopping centre based on a moving annual turnover of $462 million.
Mr Longhurst, whose wealth is estimated at $370 million by BRW Rich List, is the creator of Dreamworld theme park on the Gold Coast.
John Longhurst sold the half share to QIC in 1996 for about $131 million.
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John Longhurst sells his half of Logan Hyperdome to QIC

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Eight consortiums have lodged expressions of interest with the Queensland government to build on state-owned land at the Broadwater on the Gold Coast.
Most plans include a casino as part of the proposal. The Broadwater Marine Project is a joint initiative of the Queensland Government and Gold Coast City Council seeking private sector investment to deliver what could be the largest integrated tourism infrastructure development in Queensland’s history. The project seeks delivery of a cruise ship terminal on state government-owned land on The Spit or on Wave Break Island in the Broadwater.
In addition to the terminal, the potential multi-billion dollar integrated tourism project could include hotel, casino, marina and super yacht facilities, retail, entertainment, hospitality, community open space, recreation facilities and a mix of residential development. A Gold Coast cruise ship terminal and associated tourism infrastructure have the potential to boost tourist visitation, increasing expenditure into the state and local economies and creating jobs.
The Chinese-backed development company Ridong is the first to confirm its interest.
All the applications include a cruise ship terminal at the request of the Gold Coast City Council as a "value add" for the city's tourism industry.
The Gold Coast Bulletin reported that of the eight, four are Asian, along with a Middle Eastern company.
Sources close to the project say it is not viable without the development of a casino.
RDG boss Steven Haggart confirmed the Chinese-backed development company was one of the parties.
The land on offer was Wavebreak Island and parts of The Spit, including land immediately to the north and south of Sea World Nara.
"We have put forward a plan for the Broadwater which has 10 game-changing developments on it," said Mr Haggart, whose company is behind the $1 billion Jewel, Surfers Paradise resort.
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Eight bids for Broadwater Gold Coast cruise ship development site

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Stockland’s share price rose to near two-year highs despite yesterday's profit downgrade to its 2013 full-year guidance.
The worse than expected half-year performance was met by high trading volumes which saw the stock price pushed up 5.2% to $3.66 by market close.
It followed a $306 million hit to the value of Stockland’s residential portfolio as well as a 26% slide in its underlying profit.
The group's profit outlook had been known to be problematic as in November the group informed the market its earnings would be 10% to 15% below the 2012 full-year result.
The new chief executive, Mark?Steinert yesterday gave the sixth revision in a year, according to research from analysts at CLSA.
Adam Fairfax at JP Morgan, said Wednesday’s trading volume of 40 million shares was roughly four times higher than the recent average and attributed the sudden uplift to the break in the “buyer’s strike.” 
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Stockland shares hit near two year highs despite profit downgrade guidance

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Property investors need to be constantly vigilant with their research, particularly when local events can quickly change market dynamics. 
Bowen, a bright and busy regional centre in Queensland boosted by agriculture, fishing, tourism and mining, provides a stark example. It has a strong future, but in the short-term its market is likely to decline. 
Almost overnight, vacancies have gone from low to very high. Late in 2012, vacancies were well below 3%. In mid-February, they’re around 18%, according to local estimates. 
<img src="/images/stories/2013/02/bowenmap.jpg" width="272" height="358" alt="bowenmap"> 
How did that happen? <a href="/news">Bowen</a>, until recently, was busy with construction work, some of it re-construction work from recent storms and some of it new residential buildings. 
Lots of builders were in town and the small crop season was in full flight, which meant there were seasonal workers renting. There was also demand from people working in coal mines in the region. 
Lately, a series of adverse events have coincided. The construction projects and the small crop season have ended, while coal mines have downsized. Lots of workers have left town, at a time when the new residential buildings have added to the level of investor stock. 
Tony Doyle, principal of LJ Hooker Bowen, says Bowen has copped a triple whammy. 
“All of a sudden we have an enormous vacancy rate,” he says. “There are 224 vacancies in Bowen advertised by all agents – which means 18% or 19%, which is unheard of in Bowen.” 
In the circumstances, a decline in rents and prices in inevitable. But it’s likely to be short term. Bowen has a lot of big things on the medium-term horizon, because the Abbot Point export facility sits just outside the town. 
Multiple billions of dollars will be spent on new rail links from the emerging Galilee Basin coal mining province and on expansion of Abbot Point facilities. There will likely be action on those projects in the third or fourth quarters of the year. 
Major investors include the two Indian entities gearing up to spend around $10 billion each establishing coal mines, rail links and export facilities in Queensland – Adani and GVK. Adani has already invested $1.9 billion in a 99-year lease over the X50 Abbot Point Coal Terminal. 
Others with interests in an expanded Abbot Point include BHP Billiton and Gina Rinehart’s Hancock Coal. 
“We have some great things coming up, but it’s happening very slowly,” Doyle says. “It’s frustrating.” 
In the meantime, if you believe Bowen has a solid future, there may be opportunities to buy well in this market. 
Currently the median house price is around $350,000, largely created by an upturn in the four to five years leading up the 2007. I’d be expecting that to drop a little over the next six months or so.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" rel="nofollow" target="_blank">hotspotting.com.au</a> and can be <a href="https://www.twitter.com/hotspotting" rel="nofollow" target="_blank">followed on Twitter</a>.
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terryryder-YECXbqmri2

Why now could be the time to buy in Bowen: Terry Ryder

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The billionaire developer Bob Ell has abandoned plans to build a mansion on the <a href="/news">Cremorne </a>harbourfront.
His company, Leda Holdings, has listed the building blocks that come with permission for a nine-bedroom house with two pools on its 4,397-square-metre holding.
<a href="https://www.randw.com.au/749071/" target="_blank">It is one of the largest waterfront properties on the north shore</a>. Offers are due March 12.
"Approval is in place for the construction of a 2,739-square-metre home of extraordinary calibre presiding over its exclusive waterfront position," says the marketing.
<img src="/images/stories/2013/02/ell1.jpg" alt="ell1" width="470" height="221">
The $12 million proposal, which also includes a rooftop tennis court with a retractable fence and parking for eight cars, has been listed by Richardson &amp; Wrench Mosman agents Richard Simeon and Mark Manners.
<img src="/images/stories/2013/02/ell2.jpg" alt="ell2" width="470" height="305">
"Masterfully conceived, the one-of-a kind residence features such remarkable amenities as a guest house, caretaker's house, two pools, N/S tennis court, gym, billiard room, home theatre and office whilst still enjoying over 1000sqm of level lawns and garden," the advertisement says.
"With Laurie's Sutton's recent sale at 10 Bay Street Mosman for $20 million we have expectations of early to mid-$20 millions," Simeon told Property Observer.
<img src="/images/stories/2013/02/ell3.jpg" alt="ell3" width="470" height="305">
"Our strategy initially is to target the Chinese market both locally and internationally," he says.
<img src="/images/stories/2013/02/ell4.jpg" alt="ell4" width="470" height="381">
It was in 2008 when Leda snapped up the lots fronting Willoughby Bay.
Leda bought two of the properties from the brothel owner Eddie Hayson, and a third from a neighbour, spending a total of $16 million.
The properties had houses built in the 1950s and '60s.
 
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