<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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Announcing the nine-month financial results, ANZ chief Mike Smith says the salary for many executives at the bank including himself, will remain unchanged. The bank reported solid growth over the last nine months in a subdued lending environment. In 2011 Smith was paid $5,005,515.
<a target="_blank" href="https://twitter.com/ANZ_Media"><img width="470" src="/images/stories/2012/08/anztweet.jpg"></a>
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ANZ boss Mike Smith's salary freeze: Tweet of the day

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Developer Mirvac represents quality, stability and performance. Real estate agents use ‘built by Mirvac’ as a sales tool. The company's careful character is one reason investors were surprised – some say shocked – when chairman James MacKenzie announced the resignation of Mirvac’s CEO, Nick Collishaw, after four years in the top job.
The company has a replacement: Susan Lloyd-Hurwitz. Currently overseas, Lloyd-Hurwitz has an investment background, including with Macquarie Group, a factor that flags a potential shift in business model for Mirvac, according to investment researcher Morningstar’s property analyst, Tony Sherlock.
“Lloyd-Hurwitz brings extra experience in the funds management side,” he says. Sherlock says others in the industry have moved to a different capital structure for developments and Mirvac may be looking to catch up.
Mirvac’s performance has not been bad; certainly not worse than other developers caught up in the slowdown in construction, and housing prices, created by the GFC, Sherlock points out.
So what does a board, such as Mirvac’s, have to weigh up when it decides to part ways with its chief executive?
Industry expectations
Developers have had a spate of leadership changes – Stockland’s longstanding leader, Michael Quinn, will depart next February; earlier this year, Victor Hoog Antink left the top job at DEXUS Property Group, and FKP Property Group’s Peter Brown is also set to leave.
Whatever the factors influencing Mirvac’s share price – down from more than $5 in 2008 to $1.35 today – it is clear that rivals are clearing the decks for change.
The risks of a clean sweep
Mirvac’s CFO, Justin Mitchell, resigned in April and was due to leave in October, but he has already been replaced, prompting his departure in July. He had been there for eight years, and worked closely with Collishaw through the GFC.
With both leaders’ departures, Mirvac lost a lot of experience in one hit.
Peter Wilson, the national president of the Australian Human Resources Institute, says: “The CEO and CFO are two very important positions … Clean sweeps are unfortunate.”
What walks out the door with senior executives are their general expertise and their relationships. “Those always walk with senior people,” Wilson says. “You protect yourself by ensuring a range of people are involved on important projects. The CEO won’t have a lot of detail; not enough to replicate the project.”
The benefits of a clean sweep
A new leader brings fresh ideas and a morale boost. Chief executives and chief financial officers work closely together and it can be difficult when one leaves for the remaining leader to switch allegiances.
With both gone, Lloyd-Hurwitz can come in and stir things up, add new perspectives and bring a fresh look at old problems, Wilson says. “That is healthy. We expect that,” he says.
It provides an opportunity for the company to reposition itself.
Collishaw is a ‘details man’, according to reports. “Steady, straight, direct and knew his stuff,” is how he was described in an article last year in The Australian.
Lloyd-Hurwitz suggests a progressive, more daring appointment – a woman, relatively young, with global expertise and a different skill set: less in the nuts and bolts of real estate, and more in broader strategies and financial nous.
Strategy change
Sherlock says that rivals such as Westfield, Goodman and Lend Lease have changed their business model to a “capital light” approach. For any one project, half the money comes from debt, and half from equity. “The developer puts in 20% of the equity, and gets 80% from other investors – sophisticated investors – and they earn management fees on the other equity,” he says. “There is a flavour of the old Macquarie model.”
Prior to her current role as managing director, Europe, of LaSalle Investment Management, Lloyd-Hurwitz held senior executive positions at Macquarie Group and Lend Lease in Australia, America and Europe. Mirvac’s announcement says: “Susan’s real estate experience spans fund and portfolio management in both direct and indirect markets, fund development, mergers and acquisitions, disposals, research and business strategy,”
Managing nerves
If investors were surprised by the news, staff will also feel nervous. However, the announcement of a new CEO, the quick replacement of the departing CFO and the appointment of the chair, James MacKenzie, himself an experienced CEO, will all go towards alleviating staff concerns, Wilson says.
“People are going to get nervous if the company doesn’t have a sensible response, and that sensible response is five years of planning,” Wilson says. “People leave jobs about every five years. The foundation for any board’s response to a departure is to have a strong succession planning framework. It doesn’t matter which executive is departing; you must have a pipeline of successors. If you have that, the easiest way to respond is to say, ‘It is sad that this person is leaving, but we are a strong organisation and we have X who can step into the role.”
The next step
Mirvac has already issued guidance to the market about its upcoming result, Sherlock says. “What is more important is what will happen going forward. They are positioned at the premium end of the development market, at the top end of $2 million-plus,” he says. “They might find them harder to offload. I am not saying they will move out of that space, but rather than doing 10 more of those, they might put effort or capital into other areas.”
Such as? Cutting corporate overheads, which are seen as fairly high. Rivals such as Stockland and Westfield have had job cuts. Other have also been doing share buy-backs to allow investors a way out.
This article originally appeared on <a target="_blank" href="https://www.leadingcompany.com.au/">Leading Company.</a>
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The challenges Mirvac will face after two departures from its board

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<img src="/images/stories/2012/08/giangulla.jpg">
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg">
The founder and managing partner of the corporate advisory firm O'Sullivan Partners, Tony O'Sullivan, and his wife, Marianna, founder of the children's fashion shop Arabella Boutique, have finally sold their  Bellevue Hill property (pictured above). Designed by Tzannes Architects, it fetched $6.95 million when bought by Edwina Horesman,  the fashionista who recently upgraded from her $3.15 million Drumalbyn Road, Bellevue Hill house. The Ginahgulla Road home  had been listed with $10 million-plus hopes in June 2010 shortly after its completion. The house set on a 1,030-square-metre block was built after the O"Sullivan family moved out in late 2006 to allow for its construction, only to subsequently get tempted and buy in Woollahra, where they seemingly now intend to reside.
Given the difficulty in selling Bellevue Hill, the couple had sought very briefly in March and April 2011 to offload the Woollahra acquisition but without success. The Tzannes-designed Bellevue Hill house, which sits amid Peter Fudge landscaping, has three levels. Its a four-bedroom, four-bathroom house with views across the harbour with a northern perspective. There is a self-contained guest wing with two bedrooms, two bathrooms and a kitchenette. The previous owners were the Cutler family, who sold at $3.45 million in 2004 after the O'Sullivans returned from six years in London.
 The O'Sullivans are not alone in their predicament, as Sydney's luxury market still suffers from a sales paralysis given a vendor class unprepared to quickly embrace revised price expectations that match cautious buyer offers.
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg"> Elsewhere in the pricey eastern suburbs, stockbroker John <a href=""></a><a href=""></a>Bowie Wilson and his wife, Sally, have listed their two properties simultaneously for sale. Their <a href="https://www.realestateview.com.au/Real-Estate/2-17-gladswood-gardens-double-bay/Property-Details-buy-residential-4296493">Double Bay waterfront </a>apartment – which has been renovated by architect Nick Tobias since the couple bought it for $5.8 million in 2010 – is for auction. Laing+Simmons Double Bay agent Sally Hampshire and Raine &amp; Horne Double Bay agent Martin Maskin have price hopes of $8.5 million for its August 27 auction. The longstanding Point Piper residence, where the Bowie Wilsons have lived since 1997, has also been recently relisted for sale  through Agency by Alison Coopes with offers due August 29.
Designed by architect Michael Suttor, with Michael Love interiors, the Wyuna Road house had been on the market in May last year, when listed with $10 million plus hopes through other agents. It last traded at $1,629,000 in 1997 when bough from the Wohl family. 
{yoogallery src=[images/stories/2012/06/june5deauville]}
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg">Another case of a swap almost coming off the rails occured when the property developer and yacht racing identity George Snow and his wife, Sabrina, sought for many months to sell Deauville (pictured above), the 1935 five-bedroom Point Piper harbourfront residence with direct frontage to Lady Martins Beach. It sold for about $13.6 million, but it was 13 months after the Longworth Avenue house went to June auction last year when it was passed in at $16.1 million while seeking $17 million plus.
In the meantime their Keltie Bay, Darling Point penthouse, which was bought for $8.5 million, was put up for sale as they explored their options. 
Deauville was bought by the Haifer family, who've sold in Bellevue Hill for about $10 million. Coppernoll, the Haifer family's 1920s Kambala Road residence, sold off-market having been extensively renovated in 2003 after it was traded for $2.85 million in 2000. The Kambala Road property was briefly listed with $10 million hopes in 2004. The 1,347-square-metre property has a wide street frontage and security gates that open to a driveway down to two double garages and a porte cochere. The rear comes with a wide covered terrace overlooking the swimming pool and level lawn.
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg"> 
Returning from his lengthy overseas posting, Macquarie banker Tim Bishop and his wife, Stacey, have decided not to return to their Bellevue Hill house, but rather buy Ecclesbourne, the Ocean Avenue Double Bay property through LJ Hooker agent Bill Malouf. At a reported $9.5 million, it was sold by recruitment executive Mark Kerry and his interior designer wife, Lynda Kerry, who renovated the circa-1840s heritage-listed house after they bought it from the Cancer Patients Assistance Society of NSW. Mark was a backstroke and freestyle swimming champion, the winner of three Olympic medals. The Bishops' Kambala Road bungalow, with development approved plans, remains listed through Malouf.
<img src="/images/stories/2012/08/baluka.jpg">
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg">The latest big Bellevue Hill listing is the former Toorak banker Mike Tilley, who came up from Melbourne to work for the Packer family of Bellevue Hill. He  parked himself on Bulkara Road, paying $8.4 million in 2005. Bill Malouf at LJ Hooker Double Bay is entrusted with the prestige listing (pictured above), having come off some recent big sales. Set on 1,286 square metres, the renovated residence showcases French Moderne interiors by designer Sally Greenaway. The gardens come with generous outdoor living areas and large gas-heated swimming pool.
 
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg"> Title Tattle likes to tell readers of all the property deals as soon as they happen – if not before – so the latest word from Bellevue Hill is that it was the Scali family - Nicodemo and Johanna - who recently spent the $9.5 million through Malouf to buy from the Malouf  family. It sold within 28 days of listing suggesting the vendors had been well conditioned on current market condistions. Designed by Bruce Stafford Architects, the 1,143 sq m holding comes with northerly harbour views.<a href=""></a>
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jchancellor-FAypfDUnLy

Battling to find willing buyers in fashionable Bellevue Hill – as gap between asking and sale prices hits 25%: Title Tattle 

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REA Group, the dominant online real estate listings business and publisher of realestate.com.au, has posted a<a target="_blank" href="https://www.afr.com/p/business/marketing_media/rea_reports_pc_profit_jump_sK50CeCzO76euVYulKkHCM"> </a>29% rise in net profit to $87 million for the 2012 financial year ahead of analysts’ expectations, but real estate agent numbers have fallen 5%.
The group earned revenues of $278 million for the year ending June 30, a 16% rise on revenue of $238 million in the previous financial year.
Over the full year, the number of paying real estate agents declined by 5% to 9,069 and the number of listings dropped 2% to 761,329 - despite figures from SQM Research showing residential listings rising from 377,000 to 387,000 over the course of REA's reporting period.
REA Group said the decrease in paying agents to 21,448 in 2012 from 22,919 in 2011 was the result of “market contraction and consolidation”.
The drop in agent numbers was offset by a 16% rise in revenue per agent to $1,693.
Two years ago, REA Group reported it had 9,612 agents subscribing to its online offerings.
It reported that it had a unique audience of 2.9 million during 2012, with its nearest competitor, Fairfax’s Domain, achieving 1.6 million.
On the key measure of unique browsers for the year, realestate.com.au reported a figure 6.49 million – comparative figures on this metric appear not to be available in the current or previous year's results.
Realestate.com.au accounted for 61% of total minutes Australian spent on residential property portals as of June 2012, with Domain managing 17% of total minutes.
More than a third of total visits (34%) to property portals are via mobile devices, and REA chief executive Greg Ellis expects most of REA’s traffic to come from smartphones and tablets within three years.
Downloads for realestate.com.au’s iPhone, iPad and Android apps have reached 1.1 million, with mobile continuing to be a growth platform for the group.
Residential revenue increased by 12%, commercial revenue grew by 17% and media and developer revenue grew by 31% due to increased take-up of value-added products across all segments.
Ellis says he is cautious about the short-term outlook for the Australian property market with the downturn that began at the start of 2012 “out of alignment with the general economy”.
Despite this cautious outlook, Ellis is confident of double-digit growth in the current financial year.
“In Australia, we achieved 15% growth across the residential, commercial and media businesses and surpassed one million downloads of our realestate.com.au mobile apps.  Our high-growth Italian business achieved revenue growth of 35%. 
"In other international markets we achieved solid growth and continued to increase our leadership.”
The group derives 88% of its revenue from its Australian listings businesses – realestate.com.au, realcommercial.com.au, holiday rentals business homeaway.com.au and property.com.au.
Australian revenue growth was 15% for the full financial year, but slowed to 14% year-on-year in the second half, down from 16% in the first half – reflecting the impact of the market downturn Ellis referred.
The publisher also announced that it would pay shareholders a better than expected final dividend of 20.5¢ per share.
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REA Group says market contraction to blame for drop in realestate.com.au agent numbers as profits rise 29%

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<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/one-of-harry-m-miller-s-hand-me-downs-%E2%80%93-a-1920s-f-glynn-gilling-woollahra-manor-home-%E2%80%93-listed-for-sale/2012081355939"><img src="/images/stories/2012/08/6mplus.gif"></a>
The<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/one-of-harry-m-miller-s-hand-me-downs-%E2%80%93-a-1920s-f-glynn-gilling-woollahra-manor-home-%E2%80%93-listed-for-sale/2012081355939"> price hopes for a 1927 Woollahra manor home </a>last sold in 1968 by the entreprenuer Harry M Miller. The F. Glynn Gilling-designed house, which sits on 1,365 square metres, was built for Justice Allen Maxwell and his wife, Sadie.
 
<hr>
 
<a href="https://www.propertyobserver.com.au/residential/top-10-cheapest-studios-apartments-in-the-melbourne-cbd-starting-frrom-%24145000/2012081255753" target="_blank"><img src="/images/stories/2012/08/145k.gif"></a>
The <a href="https://www.propertyobserver.com.au/residential/top-10-cheapest-studios-apartments-in-the-melbourne-cbd-starting-frrom-%24145000/2012081255753" target="_blank">price of the cheapest studio apartment in the Melbourne CBD</a> recently for sale. The Flinders Street studio sold to an investor in the last couple of weeks.
 
<hr>
<a href="https://www.propertyobserver.com.au/landlords/low-yields-for-bondi-beach-house-investors-in-the-top-50-rp-data-suburbs-list/2012081255933" target="_blank"><img src="/images/stories/2012/08/3point7percent.gif"></a>
The <a href="https://www.propertyobserver.com.au/landlords/low-yields-for-bondi-beach-house-investors-in-the-top-50-rp-data-suburbs-list/2012081255933" target="_blank">average rental yield for houses  in Bondi Beach,</a> according to RP Data. Bondi Beach has the highest median price – and one of the lowest yields for houses – among the most active rental suburbs across Australia.
 
<hr>
<a href="https://www.propertyobserver.com.au/trends/australian-mining-project-investment-to-peak-in-2014-anz/2012081255962" target="_blank"><img src="/images/stories/2012/08/75percent.gif"></a>
The <a href="https://www.propertyobserver.com.au/trends/australian-mining-project-investment-to-peak-in-2014-anz/2012081255962" target="_blank">percentage of investment in mining infrastructure in the next two years that will be invested in Queensland and Western Australia</a>, according to ANZ.  ANZ forecasts mining projects to peak at around $37 billion in 2014 in its August Major Projects report.
 
<hr>
<a href="/news"><img src="/images/stories/2012/08/5point5m.gif"></a>
The <a href="/news">sale price for a brand-new Nicholas Day-designed property</a> on Cole Court, Toorak, which was the highest sale of the week.
 
<hr>
 
<a target="_blank" href="/news"><img src="/images/stories/2012/08/67percent.gif"></a>
<a target="_blank" href="/news">The fall in profits in the past 12 months for listed office and industrial property developer Dexus.</a> Dexus reported annual statutory profits of $181.1 million for the 12 months to June 30, compared with profits for the previous period of $553 million.
 
<hr>
 
<a href="/news"><img src="/images/stories/2012/08/19percent.gif"></a>
The <a href="/news">fall in mortgage enquiries from first-home buyers in July compared with June</a>, according to mortgage broker Loan Market. This decline may confirm what some market commentators have suggested: that the ending of generous first-home buyer schemes in four states and territories artificially pulled forward demand and could result in a  decline in first-home buyer numbers in the months that follow.
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The 7 must-know numbers of the week, starting with the price hopes for Harry M Miller's former Woollahra manor home

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Rents in metropolitan Perth have increased again in the last quarter as vacancy rates remain tight, according to the Real Estate Institute of Western Australia.
In the three months to July, rents increased $10 a week to a median of $440 per week. That’s $450 a week for houses and $420 a week for units and apartments.
The quarterly found the vacancy rate has remained at 1.9% due largely to population growth and limited housing stock.
REIWA’s David Airey says the vacancy rate traditionally eases during the winter months and the current situation is unusual.
“The equilibrium for vacancy rates across Perth sits at around 3%, so the current rate of just under 2% is a third below where it would normally be,” Airey says.
There are currently 2,440 rental properties on the market, down from a peak of 3,708 in the first week of July last year.
“As the number of rental properties diminish rents are being pushed up. It’s a classic case of supply and demand being driven by population growth and weak investor activity,” Airey says.
He says the rents increases in Perth are causing more people to break their leases.
“Some people are breaking their lease to move into a more affordable place if they find one, some tenants have bought a home of their own to move into, while many younger tenants might be returning to the family home to live with mum and dad.”
Airey says the situation is unlikely to change soon.
“I can’t see this rental situation changing in the short term, particularly given that the market tends to pick up in spring. The bottom line is that our population growth is higher than the rest of the country, and everyone needs somewhere to live."
“Hopefully the strong first-home buyer activity will see many current renters moving into a home of their own incoming months, freeing up rental stock and helping to ease the vacancy rate.
“We may also see investors return to the Perth market in greater numbers now that the rental yield has improved, house prices have stabilised, interest rates are steady and demand for accommodation is likely to continue for some time.”
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Rents in Perth increase again as vacancy rate still tight: REIWA

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The major acceleration of growth in the Queensland mining super-hotspot Gladstone is over, according to property investment advisor Michael Matusik.
He says while there is still some growth to be had, the major acceleration is now finished and investors might have missed the boat.
“Gladstone is a good example of a market that’s when everyone wants to buy now,” Matusik told Smart Property Investment.
“Yes, you can buy a good asset in that cycle, but the generic push behind the market is probably exhausted and is slowing down the acceleration. You generally want to buy when the acceleration is beginning to happen.”
Matusik put Gladstone at between nine and 12 on the property investment clock, meaning growth is slowing and values could stagnate.
Hotspotting.com.au founder Terry Ryder echoed Matusik, saying the savviest of investors were already in the market 12 to 18 months ago and are now selling up leading to high sales volumes.
“If you buy there now you may still get some growth, but really you’ve missed a lot of the growth that’s happening in Gladstone over a five year time span... An investor who does proper due diligence and research would have identified Gladstone in advance of the growth we’ve seen over the last 12 to 18 months,” Ryder says.
He says there were early indicators of the size of the mining projects in the area which led to his early identification of the town as a hotspot.
“I have included Gladstone going back six years, but certainly two to three years ago, in my reports.”
“What a smart investor will be doing, such as in the case of Gladstone, is seeing the media is talking about it and that there’s been a 20% price rise… and then looking for the next Gladstone instead of buying in.”
“But now it’s no longer a future hotspot it’s already hot.”
He says there are numerous upcoming mining projects which give ample opportunity to get in ahead of this curve.
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Gladstone's mining-related property boom over: Michael Matusik

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ASIC has cancelled the Australian financial services (AFS) licence of investment firm Lion Advantage Limited and banned its chief executive, David Hickie, from providing financial services for two years after undertaking a surveillance of the business.
Hickie provided consulting services to Mark McIvor’s failed mortgage fund operator Equititrust in November 2011 and was appointed a director of Equititrust in January 2012.
He was a director at ASX-listed software group Sofcom from March 2008 to April 2009.
At the time of his appointment Sofcom noted that he had over 39 years'experience in banking, finance and funds management and says tha for a "period of approximately a decade" he was a non-executive director of Societe Generale Australia Limited securitisation conduits, ACE Limited, ACE Funding Limited, AUSTRA Limited and HOMES Limited and has also provided consulting for structured finance to a number of parties locally as well as offshore.
Lion Advantage provided financial product services to retail clients and acted as a responsible entity, operating four registered managed investment schemes that invested in real property.
The firm’s services included issuing, acquiring and disposing of interests in managed investment schemes.
The cancellation of Lion’s AFS license was effective August 10, 2012, and Hickie’s banning was effective from August 14. ASIC found that Lion Advantage had breached a number of the financial, reporting and other obligations of a financial services licensee in contravention of the Corporations Act.
Among its failures, ASIC found that Lion Advantage repeatedly failed to lodge audited financial reports on time for Lion Advantage and the schemes it operated and did not and did not have adequate professional indemnity (PI) insurance in place.
ASIC was also concerned that Lion Advantage and David Hickie “failed to comply with the obligation to notify ASIC of significant breaches, and did not have adequate compliance measures in place to ensure compliance with financial services laws”.
"Companies have important obligations that are central to ensuring the transparency and accountability of the reporting process and must comply with their reporting requirements to ensure users of financial reports like shareholders and creditors have the information available to them to help them make informed decisions," said ASIC commissioner Greg Tanzer.
"Licensees who fail to maintain adequate PI insurance expose retail clients to the risk that they go uncompensated in circumstances where a licensee has insufficient funds to meet client claims. EDR schemes are equally important as they provide consumers with alternatives to legal proceedings in respect of resolving complaints with their financial service providers.’ In an April 2012 report, David Whyte, the ASIC-appointed receiver of Gold Coast mortgage fund operator Equititrust, noted that David Hickie had been engaged by Equititrust in November 2011.
The Supreme Court of Queensland appointed Whyte to wind up the Equititrust Income Fund (EIF) and Equititrust Priority Class Income Fund (EPCIF) on November 21. The court also appointed Whyte as receiver of the property of EIF and EPCIF.
Whyte says that “David Hickie of Lion Advantage has worked closely with Mark McIvor and Ross Honeyman (director of financial services)” devising an alternative strategy for Equititrust.
McIvor and Honeyman had sought to be reimbursed for the consultancy fee paid to Hickie, but Whyte had refused on the grounds that it was “not properly and reasonably occurred in the winding up of the fund”.
Richard Albarran, Blair Pleash and Glen Oldham of Hall Chadwick as liquidators of Equititrust Ltd on April 20, 2012.
Lion Advantage and David Hickie have the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
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Lion Advantage loses financial services licence and CEO David Hickie banned by ASIC for two years

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Born in Britain, educated in Australia, Susan Lloyd-Hurwitz has become the face of women in property, whether she likes it or not.
In an industry still heavily dominated by men, Lloyd-Hurwitz's appointment as CEO of Mirvac marks a significant first for women.
The stats are truly against women when it comes to development, real estate and property  in Australia. Back in 2006, the ABS reported that just 15-20% of the property and development sector is female, despite this sector employing almost a fifth of the workforce.
Mirvac made the announcement yesterday that Lloyd-Hurwitz would become its new CEO, following the departure of Nick Collishaw.
Lloyd-Hurwitz, 45, is currently based in London as the Europe managing director of LaSalle Investment Management. She has previously held senior executive roles at Macquarie Group and Lend Lease in Australia, Europe and the US.
Mirvac Group chairman James MacKenzie says Lloyd-Hurwitz has spent 23 years in the industry, working accross four continents and a variety of facets in the property sector.  "She is a respected leader of people and businesses, has a global outlook and is well-versed in the opportunities and challenges associated with all parts of the business cycle," he says.
This article originally appeared on <a target="_blank" href="https://www.womensagenda.com.au/">Women's Agenda</a>
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Mirvac's Susan Lloyd-Hurwitz the face of women in property

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The heritage-listed old sandstone jail in Castlemaine Victoria has sold for $550,000 to a local consortium that plans to redevelop the site into a residential project.
The consortium plans to build 22 townhouses and 16 homes on the 1.73-hectare site and use the mid-19th-century building as a conference centre.
The group comprises Gary McClure, Trevor Butcher and Don Culvenor.
McClure told the Australian Financial Review he hoped the jail would become an arts and hospitality hub for the area.
“However the long-term viability of any proposal is crucial. We don’t want to start something that again fails within a few years from lack of support," says McClure.
McClure was referring to the previous tenant, CVGT, which relinquished its lease in November 2009 after failing to secure government funding to redevelop the site.
The jail was built from local sandstone between 1857 and 1861 based on the 1842-built model prison Pentonville in London. The Pentonville influence can be seen in the the radial wings, central hall and exercise yard.
Heritage Victoria says the prison, along with the Bendigo and Beechworth jails, are the closest Victorian representations of the panopticon design – a concept that allowed a single guard to watch all inmates of a jail without the inmates knowing they were being watched.
The 67-cell Old Castlemaine Gaol was designed by Charles Vickers in the Victorian period Academic Classical style.
The jail was decommissioned in 1990, with the cells later converted to accommodation. Since then it has been used as a function centre, school camp and conference venue.
Colliers agent Andrew Lewis negotiated the sale for Mount Alexander Shire Council.
The agents received six submissions over the six-week campaign, which kicked off on May 21.
Castlemaine, 120 kilometres north-west of Melbourne, is a former goldrush town and is now a fruit and farming area with population of about 8,000.
The site is zoned residential 1, though any development would require heritage approval.
Mount Alexander Shire mayor Janet Cropley told Fairfax the zoning and heritage listing would ensure development was sympathetic to the shire.
“This proposal represents the best chance for the jail to have a viable future whilst maintaining community access and use,” she said.
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