<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

<main data-perf-region="main">
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>

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?

<html><body>
The Melbourne property market is set for a tentative recovery in the short term, but there are currently buying opportunities for investors, particularly in the west, north and some outer eastern suburbs, according to Clinton McNabb, senior research analyst for Australian Property Monitors (APM).
Delivering a presentation at this weekend’s Melbourne Home Buyer &amp; Property Investor Show, McNabb said investors needed to look for areas displaying the greatest population growth and where incomes are rising.
“There will be a tentative recovery for Melbourne, growth will be subdued for a while,” said McNabb.
But longer term, demand for housing will rise as the city’s population grows to beyond 6 million people over the next 20 years and overtakes Sydney, McNabb said.
“The biggest driver of house prices will be population growth,” said McNabb.
Investors should also look for suburbs, where incomes are growing.
McNabb presented a series of heat maps, with shades of blue, orange and red.
The heat map below shows which suburbs have displayed the greatest house price growth over the past two years.
Suburbs in shades of blue show where property prices have declined by 3% or more over the past two years, green suburbs have exhibited limited growth (up to 3%) orange indicates property prices rising around 10% and red zones show growth in excess of 15%.
<img src="/images/stories/2012/10/heatmelb.jpg">
The map shows much of the growth has been in suburbs around the city, but also good growth in some outlying areas such Narre Warren North and Beaconsfield Upper in the outer east.
In the west, McNabb says suburbs like Altona and Yarraville, where the median house price is around $500,000 – much cheaper than neighbouring suburbs – offer good potential.
Similarly, he picks unfashionable Footscray, West Footscray and Sunshine due to their affordability, closeness to the CBD and good transport connections.
In the north, McNabb says investors should look at well-located suburbs like Brunswick, Coburg and Preston.
They are affordable and also located close to the city with good transport connections.
Currently suburbs that have the highest average discount (the original listing price compared with the sale price) include Canterbury (15% discount), Toorak (12%), Footscray (11%), Brooklyn and St Kilda West.
Taking a wider view of the market, McNabb says the latest census data shows rising numbers of single person and childless couple housing occupants.
This he says indicates an increasing  demand for higher-density living.
“In addition, more families are now willing to live in apartments and they will sacrifice space for location.
“Being close to transportation to the CBD is key. There has been a 47% jump in people using public transport since 2005,” he says.
“Compare suburbs and look at comparable sales – that’s the best way to avoid things like underquoting,” he says.
</body></html>

lschlesinger-FZcF9M3vE6

Hot property investment opportunities in west, north and outer-east Melbourne suburbs: APM

<html><body>
Potential hotspot suburbs are the holy grail for property investors, but that oughtn’t necessarily be the wisest course.

By the time the mass-selling magazine publications hit the newsagency, locations that have a red-hot reputation have most likely passed their invest-by date – or at least are getting close to over satuaration by those who have gotten in before the tipster following herd.
Picking and purchasing property gems before they have got theirshine is the wisest strategy,which Residex forecaster John Edwards says involves buying at the right price, in the right place and at the right time.
Investors shouldn’t totally ignore the magazine tipsters, but sensibly should be seeking out individual property that represents good buying value, whereever it’s located.
Finding the property that suits your portfolio aided by insights from mentors.
These magazine hotspot lists are all too often way too cursory – they ought to be read and filed in your burgeoning library of research data, as they will be a handy resource and reference book, a template for starting the research, but I wouldn’t use them as a call to action.
Much of the current hotspots buzz centres on mining towns.
And there’s no better example of the hotspotting herd getting it terribly wrong than Zeehan, the picturesque small west coast Tasmanian town with a population of around 850.
It had significant speculative investment from 2003 to 2008, largely driven by mainlanders seeking dwellings with good rental returns at the cheapest end of the national market.
The investor demand had been driven by a number of exposés of the town promoting it as a hotspot.
Things really took off after a 2006 segment on Channel 9’s A Current Affair highlighted the town as the cheapest for housing in Australia.
Prices that were around $10,000 in the early 2000s jumped to $80,000 after the ACA story and then went as high as $150,000, even $190,000 in one sale, at the time of the Avebury nickel mine opening.
They’re now back to $100,000, according to a recent Australian Housing and Urban Research Institute (AHURI) study by Professor Andrew Beer.
While the June 2008 opening of the mine assisted prices along, the mothballing of the mine just six months later in December 2008 – and the loss of almost 200 jobs – has since caused house prices to plummet dramatically.
In its wake there’s been a procession of residential investors defaulting on their mortgages and business closures all too common.
Currently, Zeehan’s housing market is described as depressed by Beer and unlikely to recover from this position until the Avebury mine reopens.
A quick search of recent sale around Zeehan didn't take long before Property Observer uncovered<a target="_blank" href="https://www.myrp.com.au/n/40-leventhorpe-street-zeehan-tas-7469/myrp-490?propertyId=14156489"> one cottage sold at $147,500 in 2007 that resold this year</a> at $66,000. It had been a much speculated property selling for $20,000 in 2004, at $13,000 in 2002 and at $7,000 in 2002, according to RP Data. Nearby <a target="_blank" href="https://www.myrp.com.au/n/1-severn-street-zeehan-tas-7469/myrp-490?propertyId=14156703">a vacant building block that fetched $33,000 in 2007</a> sold for $5,250 earlier this year.
<hr class="system-pagebreak">
And despite their apparent cheapness, any investor would need to think long and hard about the location even now. With poorly maintained residential stock, lack of services and funding for local infrastructure, along with the poor overall Tasmanian economy, it’s very much a case study of a town and state in decline.
Indeed Beer wrote in June 2012 that <a href="/news">Zeehan </a>was emblematic of the mining industry generating a whole new housing dynamic with great volatility.
And of course, the mere term “hotspots” implies volatility – investors getting in and out of a market in quick succession.
Nothing about property being for the long-haul strategy here.
Boom/bust markets ought to be treated with utmost caution – and are not necessary within the sustainable portfolio of savvy investors.
It is true that sometimes the greater the risk, the greater the reward, so for some it represents an engaging endeavour.
As an independent news analysis and advise website, Property Observer has the advantage of cherry-picking some of the good ideas of many experts with national profiles.
But do your homework and stick to what’s suitable for your situation.
Have your wits about you not only when it comes to the property and its location, but also its promotion.
Investors ought to bear in mind who is making the recommendation, what interest they may have in the hotspot and whether they will earn commission income from the sale of real estate in this area.
By all means go ahead, so long as you’re happy with the transparency of the transaction.
It is essential against this backdrop that investors arm themselves with sufficient research to make a considered investment.
The cursory overview provided by the magazines just isn't sufficient to make such important investment decisions.
Terry Ryder, from the independent <a target="_blank" href="https://www.hotspotting.com.au">www.hotspotting.com.au</a> website, says all the information you could ever need is out there.
Anyone with internet access can find it, he says.
But the challenge is to know where to look and to have the time to appraise the market intelligence. Like Terry, I have been writing about property for more than 25 years, and I've learnt that getting passionate about property is easy. Getting it right is trickier.
The news, analysis, commentary and data that is available on Property Observer is all aimed at assisting that endeavour to a hopefully profitable outcome for you.
For more, dowload our free eBook<a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-tools-for-getting-through-the-hotspot-tipping-maze"> Tools for Getting Through the Hotspotting Tipping Maze</a>
</body></html>

jchancellor-FAypfDUnLy

Getting passionate about property is easy but getting it right is trickier

<html><body>
Since the peak of the market six years ago, Irish residential property has lost two-thirds of its average value.
But the latest data offered a glimmer of hope as Dublin house prices enjoyed their first quarterly increase in six years.
The estate agency DNG says there are signs of price stabilisation, as average price are now less than 1% lower than they were at start of year.
Dublin house prices rose by an average of 3.1% in the past three months.
“Whilst it still remains too early to call the absolute bottom of the market for all property types in all areas of Dublin, the latest results add further weight to the argument that the market in 2012 has proved flat in terms of price movement at the very worst and in some cases prices have moved away from their low point, at least for the time being,” <a target="_blank" href="https://www.independent.ie/business/personal-finance/property-mortgages/dublin-house-prices-record-first-quarterly-increase-in-six-years-report-3243433">DNG boss Keith Lowe </a>was reported as saying.
The news coincides with a new register of every house and apartment sale price over the past two years. The International Monetary Fund had demanded the new register be put in place to make the market more transparent.
Prepared by the Property Services Regulatory Authority, it's been hailed as a key step in instilling confidence in the property market, according to Charlie Weston, the personal finance editor at the Irish Independent.
The website <a target="_blank" href="https://www.propertypriceregister.ie">www.propertypriceregister.ie</a> has prices for some 50,000-plus properties, which total €11.9 billion, according to the register.
The register details the decline and apparent stabilisation in the market over the last three years.
<div class="body font-null">
The number of transactions declined sharply from nearly 21,000 in 2010 to less than 18,000 a year later.
Just over 14,000 deals have been done to September 21 this year.
The value of the transactions has dropped dramatically over the same period.
In 2010, €5.2 billion changed hands, but up to a fortnight ago, this year's sales were worth only €2.8 billion.
Housing economist Ronan Lyons said the website meant buyers and sellers would now have confidence about pricing.
"If you are buying you will no longer fear that you are paying twice what next door sold for a few months ago," he said.
Up to now the data produced by the <a target="_blank" href="https://searchtopics.independent.ie/topic/Central_Statistics_Office_(Ireland)">Central Statistics Office</a> and other indices, such as those produced by Daft.ie and MyHome.ie, did not keep the market truly informed.
 
</div>
</body></html>

Irish house prices rise for first quarter in six years, as IMF gets residential property price transparency

<html><body>
An 1870s St Kilda mansion that was the birthplace of former Prime Minister Stanley Melbourne Bruce has been listed for sale by the Presentation Sisters.
The 1,761-square-metre property has been the home to the Sisters of the Society of Australian Congregations of the Presentation of the Blessed Virgin Mary, better known as the Presentation Sisters, since 1919.
The property named Stradbroke was built by Thomas Moore Esq in 1873.
In 1919 the Presentation Sisters purchased the property from the Sisters of Mercy.
The mansion includes arcaded verandas over its two levels and an 18-room interior, including a chapel and a wine cellar.
Bruce, the prime minster of Australia from 1923 to 1929, was born in the property on April 15, 1883, in the house.
From windows overlooking Port Phillip Bay, its occupants would have been able to see ships laden with goods from the mother country sailing from the Great Southern Ocean, writer David Lee said in his book Stanley Melbourne Bruce: Australian Internationalist.
Bruce’s family is better associated with Wombalano, a large colonial-style Toorak mansion.
<img src="/images/stories/2012/09/bruceplaque.jpg">
A plaque unveiled by politician Barry Jones stands outside the Grey Street, St Kilda mansion celebrating his birth.
Bruce was the second youngest prime minister to serve in Australia, taking office at age 39.
The property comes with 788 square metres of vacant land, which is being marketed as prime for development.
Agent Iain Carmichael from BennisonMackinnon is expecting $3 million to $3.5 million for the mansion and around $1.5 million for the land.
The property is being sold by <a target="_blank" href="https://www.benmac.com.au/index.cfm?pageCall=property&amp;propertyID=2177197&amp;showBackToResults=true&amp;realestate=71_&amp;_71a_Grey_Street_ST_KILDA_VIC_3182">BennisonMackinnon agents</a> Iain Carmichael and Andrew Macmillan as well as <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/71-and-71a-grey-street-st-kilda/Property-Details-buy-commercial-4515469">Greg Hocking agent</a> John Holdsworth.
The property is being offered by expressions of interest both as a whole and separately.
Any buyers will have to agree to keep a magnificent English oak tree, which is protected by Vegetation Protection Overlay recently applied by the Port Phillip Council.
Council documents show the protected tree was planted in 1919 by the sisters as a symbol of the congregation.
The 13-metre tree can be seen from the reserve and is thought to offer aesthetic and amenity value to the local area.
The English oak is also thought to hold horticultural value with the species in cultivation in Victoria between 1855 and 1889.The Grey Street
A <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/ndp/del/article/3917348">Grey Street purchase, St Fintans </a>, a primary school run by the nuns was reported in 1928. 
The full original Presentation Sisters' property included what the area now known as Newton Reserve adjoining the southwest of property. The nuns will retain other property on Grey Street.
</body></html>

awalsh-7Ub9EypybQ

Birthplace of former prime minister Stanley Melbourne Bruce listed by St Kilda nuns

<html><body>
<img src="/images/stories/2012/09/kooyongkoot2.jpg">
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg">
The low-key off-market 2012 Easter $12 million-plus sale on Kooyongkoot Road, Hawthorn has been settled. It was an remarkably private sale, so only Marshall White agent Marcus Chiminello knew anything about the details. It was sold by Craig Parsell, who was Hong Kong based when he bought it in 2002 for $3.45 million. Parsell is a veteran executive partner in the technology services company Accenture.
Known as Koot, its situated in the heart of the Scotch Hill precinct. It's got a tennis court and pool on its 2,788-square-metre holding.
Title Tattle has gleaned the $12,588,000 buyer was company director Juhne Liu. Add $692,000 in Victorian stamp duty to get the actual outlay. Juhne Liu, who was born in China in 1973, directs Australia Yijiahe Investment Pty Ltd which was registered with the ASIC in March last year. Liu's existing home is within the Mirvac development at Mulgrave.
Title Tattle isn't aware  of any other private sale this year in Melbourne, with two other sales just under $12 million in Toorak and South Yarra.
The road's name stems from the Aboriginal word kooyongkoot, meaning the haunt of the wild fowl.
There's an imminent fresh St Georges Road, Toorak, listing set to hit the market, but unless it's priced right Koot might just well remain the year's highest priced sale.
For property punters who like to guess sale prices Property Observer has set up a mini-competition among readers within the auspices of the PropertyTycoon website. Football tipping season may be over, but readers can take part in <a href="https://propertyobserver.us2.list-manage1.com/track/click?u=24bd0766a834290948593f5aa&amp;id=78b1a98c11&amp;e=fbc19bce07">Property Observer’s auction tipping contest</a> and stand a chance of winning $1,000.
  
</body></html>

Koot's $12.5 million sale still holds mantle of Melbourne's top 2012 mansion sale

<html><body>
Midwaters, a 1,232-square-metres residential development site on Main Beach on the Gold Coast, has been sold.
The $5 million-plus sale through Mark Witheriff and Lachlan Harris of CBRE was a year after <a target="_blank" href="https://www.propertyobserver.com.au/developments/raptis-boutique-gold-coast-site-in-receivership-listing/2011100451804">its listing through other agents</a>. It was to be the site of a $48 million tower by veteran development group Raptis.
<img src="/images/stories/2012/09/raptis.jpg">
The property attracted interest from Chinese developers, with three buyers short-listed from the offers received. The buyers' identity has not been disclosed but is understood to be a south-east Queensland developer.
“We understand that the purchaser plans to proceed with the existing development application on the site,” Harris says.
The Midwaters site has development approvals in place for a 17-level apartment building configured for 16 apartments.
Raptis Group secured development approval for the site in 2008, and the approval is in place until 2014.
The property was placed on the market on behalf of funds manager Wellington Capital, which purchased all the shares in Octaviar Investment Management Limited, which was a lender to the Raptis Group.
The Midwaters site backs on to an arm of the Nerang River.
It currently has an ageing three-storey walk-up, known as Midwaters, that has lain dormant for years.
</body></html>

Raptis Gold Coast development site sells 

<html><body>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/cheapest-of-rp-datas-100-growth-suburbs-grenfell-rising-property-values-would-have-inspired-native-son-henry-lawson/2012100156909"><img src="/images/stories/2012/09/150k.gif"></a>
The<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/cheapest-of-rp-datas-100-growth-suburbs-grenfell-rising-property-values-would-have-inspired-native-son-henry-lawson/2012100156909"> approximate median house price in the NSW regional town of Grenfell</a>, the cheapest entry on RP Data's list of the top 100 growth suburbs. Prices have increased 20% in the past year in the town, which is the place of bush poet Henry Lawson's birth.
 
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/news/cubbie-station-sale-to-chinese-supported-by-just-13/2012093056888"><img src="/images/stories/2012/09/13percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/news/cubbie-station-sale-to-chinese-supported-by-just-13/2012093056888">percentage of Australians polled by UMR who supported the sale of Cubbie Station to Chinese investors</a>. Some 63% of Australians are opposed to the sale of the southern Queensland property to overseas interests, with 24% unsure.
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/victoria/woodend-s-mintaro-%E2%80%93-a-mini-government-house-%E2%80%93-listed-with-%243-million-hopes/2012093056889"><img src="/images/stories/2012/09/3m.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/victoria/woodend-s-mintaro-%E2%80%93-a-mini-government-house-%E2%80%93-listed-with-%243-million-hopes/2012093056889">price hopes for Mintaro</a>, the 1882 Monegeetta, Sunbury district mansion. It's a smaller replica of Melbourne's Government House, which was built by a Captain Robert Gardiner to a design by architect James Gall. The 9.9-hectare estate is an executor's sale, which will conclude 78 years of family ownership by the Rae family.
<hr>
<a target="_blank" href="/news"><img src="/images/stories/2012/09/53percent.gif"></a>
The <a target="_blank" href="/news">percentage of Australian households who have no income left at the end of the month</a> once they have paid their mortgage and other bills, according to ME Bank. The report found that 43% of households break even and 10% spend more than they earn by drawing on savings, loans, credit or equity in their homes.
<hr>
<a target="_blank" href="/news"><img src="/images/stories/2012/09/3point25percent.gif"></a>
The<a target="_blank" href="/news"> current cash rate, after the RBA cut rates on Tuesday</a> by 25 basis points. This is the lowest the cash rate has been since October 2009.
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/residential/surprise-14-rise-in-capital-city-dwelling-values-highest-in-30-months-but-moderate-growth-ahead-rp-data-rismark/2012100256920"><img src="/images/stories/2012/09/1point4percent.gif"></a>
The<a target="_blank" href="https://www.propertyobserver.com.au/residential/surprise-14-rise-in-capital-city-dwelling-values-highest-in-30-months-but-moderate-growth-ahead-rp-data-rismark/2012100256920"> increase in house prices in September across Australia</a>, according to RP Data. The result was the largest month-on-month rise recorded since March 2010 and means that capital city dwelling values are now 0.8% higher over the first nine months of 2012, with a median dwelling price of $450,500.
<hr>
<a target="_blank" href="/news"><img src="/images/stories/2012/09/4point5mplus.gif"></a>
The <a target="_blank" href="/news">price hopes for the Princeton, Double Bay penthouse</a> of the late interior design doyen Leslie Walford. The interiors showcase the tastes of Walford, who retired just five years ago after an international career spanning five decades.
</body></html>

cknowlton-QnEa6ntUYP

The 7 must-know numbers of the week, starting with the median house price in Henry Lawson's home town

<html><body>
Vision, planning, strategy, calculated risk, conservative debt levels, integration and execution sum up Paul Little’s approach to running a business. The man who built Toll Holdings into a global logistics giant, with revenue of $8.7 billion, is using the same principles to create his property developing business.
Little Property group has about 1800 apartments under development, with a market price of more than $1 billion. Little strongly believes successful businesses create a point of difference, so he is focusing on building apartments on the fringes of Melbourne’s central business district: St Kilda, Port Melbourne, South Yarra and Brunswick.
Little chooses the inner city because he believes younger generations, particularly well-paid professionals, prefer a different lifestyle to their parents. “I see access to public transport becoming more important and owning and driving a car less important,” he says.
“The Aussie dream of a backyard is far less important to younger people today than when I was growing up. So my developments offer community facilities, such as theatres, pools, gymnasiums and barbecue areas.
“I’m driven to create an iconic development rather than just a box with a number of apartments in it. So that requires courage, and an ability to be innovative and creative with design.”
He says his business model revolves around finding and developing the site, selling the units themselves and managing apartments on behalf of investors who let them. His property group is akin to a one-stop shop.
“It’s the integrated solution,” he says. “And we’re finding that no one else is specialising in the apartment area in an integrated way.”
He says his company, established in 2005, uses its own equity to start a project. “We go to the banks when we have pre-sold about 65 per cent of the available apartments,” he says. “At 65 per cent, the banks are keener to assist with funding. It’s a point of difference to other developers looking for mezzanine finance and using all sorts of high-risk instruments.”
Little says property developers fail when they pay too much for a site, borrow too much, or can’t secure the necessary permits for their plans. Or they lack the skills. “Everyone thinks they’re a property developer these days,” he says. “But it’s totally specialised.”
Little – who retired as Toll Holdings’ managing director in December 2011 after 26 years at the helm – is a consummate dealmaker. He was mostly responsible for arranging the company management buyout in 1986 and listing Toll on the ASX in 1993. At Toll, Little did about 100 acquisitions, expanding the company’s transport logistics network to 55 countries. Today, the global company generates $8.7 billion in revenue and employs 45,000 staff involved in road fleets, warehousing, shipping, air freight, ports and rail.
 
<hr class="system-pagebreak">
 
Acquisitions
A good acquisition must add value to existing operations, whether it’s an additional service or improving economies of scale. Little says suitors should question whether an acquisition will make it “bigger, better, smarter and more efficient” before doing the deal.
“An acquisition has to increase activity that lowers operating costs, or it needs to enhance customer service levels,” Little says. “An acquisition has to do one of those two, or in some cases it needs to do both.
“One of the last things I did at Toll, with newly-appointed managing director Brian Kruger, was try to acquire a good freight-forwarding business in Philadelphia. We spent a lot of time on this potential acquisition, but in the end it was too expensive so we walked away.
“It’s hard to do, but you must have that discipline, or you’ll end up paying too much. And that’s something you determine before you go into the transaction.”
Provided it ticks all the boxes, Little says a major benefit of merger and acquisition activity is faster growth than the organic option. An acquisition can bring plant, equipment and staff, so “you can hit the ground running”.
“But acquisitions aren’t all plain sailing,” he says. “The cheaper companies, in terms of what you have to pay for them, are cheaper for a reason. That is poor equipment, poor people, poor marketing strategy and execution – all resulting in poor P&amp;L (profit and loss).”
Integration generates efficiencies by removing waste and impediments. “I think integration is the way of the future,” he says. “It enables clients to see the whole process – electronically. Removing the middle man, or middle men, is what we aspire to do – both when I was running the logistics business, and now in the property area.”
Gearing
Little says managing risk makes a successful business. “I will always be risk-averse,” he says. “But where I believe I can use my experience, knowledge and the people around me, I’m prepared to take on calculated risk.”
It’s at this point in the interview thatLittle talks about Fortescue Metals Group and its debt of more than $9 billion that had recently forced the company into a trading halt and a debt restructure as a result of plunging iron ore prices.
It’s not that long ago that highly-geared companies across the world went out of business or merged in response to the credit crunch and ensuing global financial crisis.
According to analyst Michael Heffernan, of stockbroking firm Lonsec, Fortescue Metals’ net debt-to-equity ratio was 156% at June 30, 2012. Simply, Heffernan, says: “That would be a red flag to any investor.” In contrast, Heffernan says BHP Billiton’s net debt-to-equity ratio was 35.8% in mid-2012.
Little politely says a debt/equity ratio such as Fortescue’s may not have been tolerated in too many other companies.
“In a bull market, Fortescue’s debt/equity ratio may have been more manageable,” he says. “But the iron ore price fell from $US180 a tonne to $US90 a tonne – that’s the problem. It’s much harder to manage debt when your income levels can halve relatively quickly.
“In any business you run, whether it be the corner milk bar or a publicly-listed company, you must have conservative debt levels. The businesses I see get into trouble usually have high debt levels. I’ve always felt that you can ramp up short-term debt if the prospects of repaying it quickly are good.
“Long-term debt is a bit scary.
“Too much debt kills companies. That’s why the gearing ratio is terribly important in public companies. I’ve been accused of having a ‘lazy balance sheet’, but today you would swap it for almost anything.”
 
<hr class="system-pagebreak">
 
Global
Little encourages businesses to think global. Take advantage of the internet to grow in and beyond Australia. “The use of technology is vital for global growth,” he says. “The speed, accuracy and amount of information will assist in managing businesses more effectively, efficiently and open new global markets.
“I keep talking about global markets because we live in a global marketplace. Business leaders must be aware of the opportunities and threats from countries outside Australia. We can’t just look at Australia as a separate marketplace anymore.”
Little sees Asia, due to its population and proximity to Australia, as an opportunity. “Clearly, you can’t offer a global service if you’re not in Asia,” he says, but, as always, expansion needs a plan due to cultural differences in the way business is done. “In Asia, you need to be patient and selective about how and where you grow.”
It’s an important point, given Toll’s troubled Footwork Express business in Japan. As Little is no longer on the Toll board, he declined to comment about the Footwork Express performance that resulted in a $168 million writedown and contributed to a 76% fall in net profit after tax to $70.9 million (after non-recurring items) for the 2011/2012 financial year.
Leadership and strategy
“It’s fair to say, if there’s one thing that separates chief executives from the rest is their ability to have a vision and the courage to pursue it,” Little says. “The vision isn’t for a month or the next reporting period – it’s for five years from now. Consider where you want a business to go and what it will look like in future? How can your service offering be different to you competitors?
“Good leaders surround themselves with the best possible people. I know that sounds obvious, but it’s terribly important. Senior employees working closely with the chief executive are generally ambitious, but also team players.
“At Toll, I encouraged senior people to take on responsibility, accountability and the destiny of their part of the business. I didn’t want to interfere.
“The corporate office would set parameters, be they treasury, budgetary or legal, and the rest was up to the individual. Employees should be adequately rewarded for taking on a slice of the business, managing the risk and growing profits. It’s difficult to get the best people and to incentivise them without paying them adequately.”
A good leader is confident and persuasive about strategy. “At Toll, the audience I had to be persuasive to was essentially shareholders,” he says. “There has to be a level of believability about your strategy. You need to exude confidence about executing it, because a strategy is long term and shareholders are impatient.
“It’s a balancing act that public companies often struggle with today. And articulating a strategy is terribly important because an inability to do so can bring additional pressures that wouldn’t otherwise emerge.”
Patrick acquisition
Even the best-laid plans can go astray. The bitter battle with the competition regulator for stevedoring company Patrick in 2005-06 took a toll on Little. “The deal became all-consuming,” Little recalls. “We had a war office inside Toll, and for about a year, I was good as cut off from the outside world. I lost a year.”
Little says Toll was keen to acquire Patrick’s port activities to complement its land-based services. “For us to achieve our ambition of being a global logistics operator, you couldn’t do it effectively, at that point, without some sort of stevedoring capability,” he says.
But Little says Toll’s original acquisition plans for Patrick eventually met stringent opposition from Graeme Samuel, Australian Competition &amp; Consumer Commission chairman between 2003 and 2011. “The regulator thought differently and stopped our original proposal from happening,” Little says.
To meet conditions of the deal, Toll restructured, spinning out Pacific National (rail) and Patrick’s port divisions that would become listed company, Asciano. “We went ahead on that basis, but some of the cream was lost on the cake,” he says. “There’s no doubt about it.
“The mistake we made was misreading what the regulator was going to allow us to do. Prior to the final decision, we thought the regulator was accepting of our strategy that we were trying to articulate and put in place.”
To this day, Little says he and Samuel disagree about the outcome. “I still bump into Graeme and we have an OK relationship,” he says. “The disagreement wasn’t personal then and it isn’t now.”
 
<hr class="system-pagebreak">
 
Little by Little
Q: What is your favourite source of leadership inspiration and ideas? A: Mostly biographies and autobiographies of inspirational and successful people.
Q: What is the one thing a leader should never do or say? A: A leader should never be untruthful or inconsistent.
Q: What two elements are critical to achieving change? A: clear direction and ownership of the process.
Q: What was the worst moment of your career, and what did you learn? A: A phone call while at Toll from the competition regulator advising his change of direction relating to the Patrick acquisition approval.
Q: What important qualities do you look for in your direct reports? A: Loyalty, accountability, experience, drive and competitiveness.
Q: What makes a workforce productive or more productive? A: Job security, job satisfaction, clear individual and group targets and feedback on performance.
This article originally appeared on <a href="https://www.leadingcompany.com.au/" target="_blank">LeadingCompany.</a>
Crane photograph by Ian Sanderson, courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>
</body></html>

Paul Little turns property developer and focuses on inner-city units

<html><body>
It seems Melbourne real estate agents continue to underquote prices of properties going to auction, according to a Property Observer survey.
An analysis of sales data by Property Observer from the results of auctions attended in the last month by buyers advocate group National Property Buyers shows 75% of homes sold for more than the upper price bracket indicated by real estate agents before the auction.
Out of the 61 sales analysed, 11 sold for more than 10% above the upper price bracket given by agents.
In cases where properties sold for above the indicated price range, the average difference was 6.5% above the upper bracket.
The analysis does not include properties that passed in or those for which the agents did not indicate a price range.
Underquoting was most rampant among properties selling for less than $600,000. Out of the 24 sales examined, just four fell within the price range indicated by agents before auction. Four sales went for more than 10% above the upper bracket.
There were 23 properties that sold for between $600,000 and $1 million, 16 of which sold for above the price range indicated, including four that went for more than 10% above.
There were 14 properties that sold for more than $1 million, 10 of which sold for above the price range indicated, including three that sold for more than 10% above.
The most extreme example was a three-bedroom house in Yarraville that had a price guide of $1.15 million to $1.3 million. It actually sold at $1,565,000, 20% above the highest price in the agent's bracket.
Out of the 61 sales analysed, just one sold for under the price bracket, falling short by just $2,500.
Of the 15 sales that fell in the middle of the agent's price guide, six sold for exactly the same figure as the highest indicated, and most the rest were very close to the highest figure.
 
<hr class="system-pagebreak">
 
Buyers' agent Catherine Cashmore from National Property Buyers, from which the raw data was taken, says the quotes are generally recorded as close to the auction data as possible.
"If the quote is not openly published, we aim to get it as close to the auction date as possible.  A lot of agents 'step quote'  – it's a common practice to gain as much interest as possible at the start of a campaign and up the quote in the last week to avoid any issues when the reserve is revealed during the auction – specially in a sluggish market," Cashmore says.
"However, when we catalogue the auctions, we do so during the last week of the campaign to avoid any discrepancies." 
A previous analysis of 220 auction results<a target="_blank" href="https://www.propertyobserver.com.au/auctions/melbourne-auction-listings-typically-selling-at-5-above-upper-end-estimate/2012090956435"> found 77% of properties </a>were selling above price guides. Those that sold above were going for an average of 5% above expectations.
Commenting on those results, Cashmore says agents who don't suggest a somewhat low figure risk scaring potential bidders away from auctions.
"Selling agents know that to run a successful auction means attracting as many buyers as possible. The more buyers prepared to put their hand up at auction the better the result."
"No agent is going to risk 'over cooking' a property by quoting too high. It will always be placed – at the very least – a 'conservative' level.
"Whilst I’m in full agreement of fair legislation outlawing deceitful advertising and agree that price quotes which vary between agencies can be a wishy-washy guideline in purchasers' eyes, buyers should not be misled into believing further legislation will change the sales process to work in their favour."
</body></html>

Underquoting still rife for Melbourne auction offerings

<html><body>
Rino Grollo sold most of his 24 redundant Mount Buller holdings at auction today.
More than $4 million of property sold under the hammer and in the minutes after the mass auction.
Some 17 sold at auction, two sold prior and five properties were passed in but three of sold immediately after.
Castran agent John Castran conducted the auction and says he and Rino were happy with the auction, which had 43 registered bidders.
<img src="/images/stories/2012/09/snowauction1.jpg">
"Rino's happy. There's plenty of new people to ride his ski lifts now," Castran says.
Castran says most of the buyers were leisure seekers rather than investors. He says most of the buyers were buying without borrowing any money.
The stand-out performer was the Stables Chalet, which sold for $980,000 after being marketed with $900,000-plus hopes.
The four-bedroom chalet was designed by architects Bruce Henderson and Provan Burdett. The property won awards at the state and national Master Builder Australia awards.
It is built from local stone and timber, and the new owner will be able to ski in and ski out from the Chamois ski run.
The property includes three bathrooms, open-plan kitchen, dining and living areas, a garage, stone benchtops, stainless steel appliances, laundry/drying rooms, a heated driveway and fireplace.
There were three bidders after the property was announced on the market at $900,000, including one late bidder on the phone.
After bids hit $900,000 they came in $5,000 increments then jumping $10,000 per bid to $970,000 when two bids to $980,000.
 
<hr class="system-pagebreak">
 
Bidder interest wasn’t matched with the Skyline Penthouse in the Chalet Hotel. It had been expected to sell for $900,000 but it passed in on a vendor bid of $800,000.
<img src="/images/stories/2012/09/snowauction2.jpg">
It did sell after auction though with Castran securing just shy of $1 million.
The recently renovated three-bedroom suite includes access to all the luxuries expected with a hotel.
Before auction, Castran relayed a message from Grollo saying, “Today is the day to buy because today is the day I’m selling”.
True to his word he was willing to come down in price on some properties, including the Kirstie Marshall Homestead, which sold for $137,000 despite his insistence $140,000 was the lowest he could accept.
Interest in the freehold small building block land offerings out of the ski slopes at Sawmill Settlement wasn’t as strong, with Castran working hard for every bid.
He said the <a target="_blank" href="/news">Mt Buller</a> lots were selling for almost the same amount that they cost to develop.
He even got to down to $1 bid to get it over the reserve price of $45,000 in two instances for blocks at the Sawmill Settlement location at the foot of the mountain.
Prices for the 12 St Anton apartments ranged from $120,000 to $205,000, having been marketed as likely to secure between $130,000 and $225,000.
Interest in the auction had been strong, with Castran inundated with 600 pre-auction inquiries. There were more than 100 at the auction.
Castran said the results showed the market was price-sensitive with the discretionary acquistions trading at about 20% below last year’s prices.
But he said he hadn’t seen $900-plus prices in?Mt Buller for two years.
Auction attendees at the city auction premises weople were ushered into the 19th-level board room by ski instructors in full garb. It's especially impressive given the weather topped 31 degrees in Melbourne.
Buyers were required to pay a 10% deposit up front with a 60-day settlement period. There was no GST payable, and furniture was included.
</body></html>

Latest Property News

The Eveleigh brings house-like apartments to Broadbeach

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Property News

The Eveleigh brings house-like apartments to Broadbeach

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News