<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>
Fund managers have acquired nearly half of the debt-laden Becton Property Group, which has struggled since the onset of the GFC. 
Following Darren Olney-Fraser’s fund management business the Mariner Corporation acquiring a 20% stake yesterday, Sydney-based fund manager Telopea Capital has bought a 19.9% stake, while property investment firm and fund manager Titanium Property has acquired a 7% stake. 
The three firms acquired the shares that were held by PricewaterhouseCoopers, the liquidator of Australian Capital Reserve (ACR), a financing company that collapsed in 2007. 
The decision to snap up the shares is  expected to provide some support to Becton following reports last week in the Fairfax press that the company was at the mercy of its lender after revealing debts of $200 million and assets of just $800 million. 
The sale was made possible following an agreement with ACR liquidator Greg Hall of PricewaterhouseCoopers and Macquarie Bank over the weekend. 
Mariner acquired 1.47 million shares for $1 million, equating to a price of 68¢ per share as well as $1.56 million in options, which can be converted into shares at no cost by 2021. Taking up the share options would raise Mariner’s stake to 26.9%. 
Andrew Kerr, managing director of Telopea Capital, says Becton has been held back because half of its shares have been controlled by a liquidator and says the recent transactions would provide diversification to its shareholder base and provide it with partners with “experience in capital partnerships and the real estate development markets”. 
In a statement Becton said it believed it had “sound long-term fundamentals” and that Mariner believed it was “in a good position to continue to reduce its debt from its current development projects and rebuild the business through the next property cycle”. 
Becton is currently working on three residential development projects with forecast settlements worth $1.23 billion and six retirement village projects with forecast settlements of $177 million. 
Current projects include Divercity in Waterloo in Sydney’s eastern suburbs; a master-planned development in Newleaf, Bonnyrigg near Liverpool in Sydney’s outer west, and Liv in Kensington, the inner-Melbourne suburb north-west of the CBD. 
Last week Becton revealed that it had obtained an extension on its financing arrangements with Suncorp on a $2.2 million loan for projects in Wahroonga and Hervey Bay but had not been able to negotiate the refinancing of a $73 million retirement community loan with Suncorp.
Becton is currently undertaking a revaluation of its retirement assets in conjunction with the Oman Investment Fund in the hope of securing a short-term extension of debt facility with Suncorp. 
The results of the revaluation will be completed on June 30, the value of retirement assets is expected to be reduced by between $20 million and$30 million.
</body></html>

lschlesinger-FZcF9M3vE6

Fund managers acquire nearly half of struggling Becton Property Group

<html><body>
Deauville, the 1935 five-bedroom Point Piper harbourfront residence with direct frontage to Lady Martins Beach, has been sold reputedly for about $13.6 million.
The Longworth Avenue house went to June auction last year when it was passed in at $16.1 million through Ben Collier and James Dack at McGrath, in conjunction with Bart Doff of Laing + Simmons Double Bay, who were seeking $17 million plus.
It was sold through Double Bay agents Brad Pillinger and Elliott Placks by the property developer and yacht racing identity George Snow and his wife, Sabrina, who bought it 19 years ago for $3 million.
Title Tattle recalls the 1993 auction purchase when it was sold at Geoff Speers' Sydney Property Auction Centre room. Overseas currency conversions – Hong Kong dollars and Japanese yen – of every bid were brightly digitally displayed on the wall in what was briefly then the latest advance in auction room gadgetry. The 1993 vendor was the ball-bearing industrialist Ron Martin-Weber, who had paid $395,000 in 1973.
Capital Property Trust's George Snow – who had debuted in the 1993 BRW Rich List at $35 million – is best known for twice taking line honours in the Sydney to Hobart as the owner-skipper of super-maxi yacht Brindabella. The Snows are off to the Keltie Bay, Darling Point penthouse, which was bought from David Kunde for $8.5 million last year.
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 having 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.
</body></html>

jchancellor-FAypfDUnLy

George Snow sets sail from Deauville, Point Piper after 19 years

<html><body>
Aussie Home Loans and the Commonwealth Bank have picked up multiple awards at the 22ndAustralia Banking and Finance Magazine Awards held recently in Sydney. 
John Symond’s Aussie was named mortgage broker of the year for the fifth consecutive year and also won in the “best advertising, marketing and promotional campaign” and “best career development program”. 
In a year in which it acquired prominent Melbourne mortgage aggregator National Mortgage Brokers (nMB) and grew its mortgage book to $43 billion, Symond said winning the mortgage broker of the year award was particularly valued.
The Commonwealth Bank picked up five awards including three for its personnel, with Ralph Norris, who stepped down as chief executive at the end of November (replaced by Ian Narev), named financial services executive of the year.
However, the CBA lost out to ANZ for major bank of the year, while Suncorp was named best of the second-tier banks. Online bank ING Direct picked up the technology kudos with an award for Andrew Henderson, its chief information officer.
Westpac and NAB went home empty-handed on the night.
Newcastle-based lender the Greater Building Society was name building society of the year for the second year running, fending off competition from Illawarra-based IMB as well as Queensland-based Wide Bay Australia.
The building society has almost 250,000 customers across NSW and south-east Queensland and has assets worth almost $5 billion.
Greater chief executive officer Don Magin paid tribute to his staff for helping make the building society a “real competitor to the major banks” and one that is not “beholden to shareholders”. 
Gateway Credit Union was named best credit union. 
The full list of AB&amp; F winners are:
 
INNOVATIVE MORTGAGE PRODUCT OF THE YEAR
QBE – HomeKeeper
 
INNOVATIVE RETAIL BANKING PRODUCT OF THE YEAR
Commonwealth Bank - CommBank Kaching
 
INNOVATIVE CARD AND PAYMENT PRODUCT OF THE YEAR
Suncorp Bank - Visa Prepaid Card
 
BANKING WEBSITE &amp; ONLINE OFFERING OF THE YEAR
HSBC - HSBCnet Mobile
 
ADVERTISING, MARKETING &amp; PROMOTIONAL CAMPAIGN OF THE YEAR
Aussie
 
BEST USE OF SOCIAL MEDIA
Commonwealth Bank - Commonwealth Bank Facebook Places with Deals
 
BEST CAREER DEVELOPMENT PROGRAMME
Aussie 
MORTGAGE BROKER OF THE YEAR
Aussie
 
BUILDING SOCIETY OF THE YEAR
Greater Building Society
 
CREDIT UNION OF THE YEAR
Gateway Credit Union
 
LAW FIRM OF THE YEAR
King &amp; Wood Mallesons
 
AUSTRALIAN FINANCIAL INSTITUTION OF THE YEAR – Non-Big Four
Suncorp Bank
 
AUSTRALIAN FINANCIAL INSTITUTION OF THE YEAR – Major Banks
ANZ
 
CHIEF INFORMATION OFFICER OF THE YEAR
Andrew Henderson, Chief Information Officer, ING Direct
 
CHIEF RISK OFFICER OF THE YEAR
Alden Toevs, Commonwealth Bank
 
CHIEF FINANCIAL OFFICER OF THE YEAR
Peter Marriott, ANZ
 
BANKING AMBASSADOR AWARD
Bryan Fitzgerald, Commonwealth Bank
 
FINANCIAL SERVICES EXECUTIVE OF THE YEAR Ralph Norris, Commonwealth Bank
</body></html>

Wins for Aussie, Greater Building Society and CBA at annual banking awards

<html><body>
This past week, another revolutionist was busy plotting the future of the human race and this time the savior of the world is going to be surrounded by concrete in the form of a vertical city.  The founder of TED, Chris Anderson, told a Sydney audience that the worlds 10 billion (which is expected to be achieved over the next 70 years – providing we don’t self-destruct, which I ponder is an ever present reality) can only be fed, sustained, and resourced, with <a href="https://bit.ly/M4GhIs" target="_blank">urban living</a>.  Chris’s view of urban living isn’t in the suburbia that fueled the old Australian Dream, providing a backyard to grow food and sustain a comparatively healthy lifestyle for the average family.  In Chris Anderson’s vision, children will be born and raised in vertical towers, the family car will become a bygone antique, and once habitable rural land will be allowed to regenerate into forests and wilderness.
While I admit to being a fan of TED and love a healthy exchange of ideas, Chris’s vision is frighteningly close to the reality of our inner-city municipalities. Especially when you consider Melbourne’s currently undergoing a <a href="https://bit.ly/M4GEmi" target="_blank">massive growth spurt</a> with high-rise CBD expansion set to grow from 180 hectares to 900 hectares in a bid to accommodate our unprecedented population growth. In his speech, Anderson did make comment advocating a standard of quality in his vertical vision.  He maintains that architects need to design towers where residents are not living in a rat trap or boxes jammed together.  However, in our modern, money-making, bang for buck economy, it’s doubtful whether any developer would put internal floor space above the potential of squashing as many on a block as possible while selling in bulk to the first foreign investor to register interest. It’s well accepted that our current high-rise craze is the bread and butter of the foreign investor market – most of which are sold off the plan with generous rental guarantees.
Anderson isn’t wrong in his assessment of urban growth, however.  Back in the 1800s just 3% of the world's population lived in urban areas. By 1900, the figure had swelled to almost 14%, with 12 of those cities numbering a population of 1 million or more. By the 1950s the numbers jumped again, with 30% of the world’s population choosing city living over a rural lifestyle – 83 cities had a population of 1 million or more. In 2008, for the first time in recorded history, half the world’s population was living in towns and cities. And by 2030 – assuming we’re not hit by a plague on the scale of Spanish flu, which wiped out 3% of the world’s population – the number living in towns and cities will swell to almost 5 billion – that’s 70% of the population.
This unprecedented growth in urbanisation is a powerful force.  The top 25 ‘mega-cities’ now account for over half the world’s wealth, 50% of which comes directly from within India and China – Australia’s largest migrant populations (which are incidentally now on the brink of outnumbering the European-born residents). However, while we’re busy urbanising the world and working out how to squash the average family into a vertical tower while still providing quality living, it might be worth while sparing a thought for who’s going to be farming the land to feed the world’s 10 billion?  Especially considering there are still in excess of 1 billion people suffering worldwide from hunger and according to the <a href="https://bit.ly/M4H1gL" target="_blank">Population Reference Bureau</a>, there are a further 8  billion mouths to feed each year.  Not to mention the robust level of population growth Australia is experiencing.
In a recent report led by land-use expert Trevor Budge at La Trobe and RMIT universities questioned if <a href="https://bit.ly/M4HiQJ" target="_blank">“Australia risked being profligate in wasting or taking out of production its best farmland</a>.” Coal seam gas exploration knows no bounds in this regard – quickly eating into some of the richest agricultural land in NSW and Queensland.  As an excellent <a href="https://bit.ly/M4HDmE" target="_blank">Four Corners</a> documentary pointed out last year, Australian landowners are only considered owners of the top soil - not the mineral reserves below.  Therefore gaining planning permission to drill and prosper is seemingly no hard task. However, according United Nations' Food and Agriculture Organisation <a href="https://bit.ly/M4I3cJ" target="_blank">(FAO)</a>, over the past 33 years, our farmland has diminished by 16%.  It’s not due to building so much as the financial pressures on small farmers who can’t compete with the big players in the industry.  Much of the land has been reserved for conservation, some has been urbanised, however in short, it’s an industry that should be a thriving magnet for young Australians and yet for a number of reasons it’s dwindling . Consequently, intensive farming rules to the detriment of our smaller farmers who can’t compete with the large global companies who bid and buy prime Australian arable land.
As farming struggles, regional locations suffer the consequences.  According to the National Farmers Federation <a href="https://bit.ly/M4Ifsj" target="_blank">(NFF)</a>, Australia has more than 135,000 farms, which our inland regional towns and centres largely service. Not only are these regional towns the life and blood of our farming communities, they are areas of natural beauty preserving age-old traditions and providing an historical link to the roots of Australian culture.  While we’re busy building up our cities and taking advantage of the prosperity spanning from urban migration, there are some real challenges facing our primary farming communities. Low commodity prices, years of draught, foreign imports, increasing debt and the dominant duopoly of our major two supermarkets forcing prices down have caused many to sell up and move on.  Losing primary rural industries results in the devastating loss of smaller rural communities, and if we’re really to solve Australia’s population challenges this is exactly where we should be pouring funds rather than building more vertical towers.
 
<hr class="system-pagebreak">
 
Most city dwellers have their eyes firmly fixed on residential investment, the argument being that everyone needs shelter and we simply don’t have enough affordable accommodation to support the unprecedented level of urban growth our capital cities are attracting. This is true, however, land is about more than just shelter – it’s about food, biodiversity, productivity, and sustainability.  The answers to Australia’s population growth aren’t contained in the skies above – although vertical living is part of that plan. Rather the answers are to be found under the soles of our feet – in the abundance of land that surrounds us.
As our arable land diminishes, investment in farmland is promising large returns. Wheat prices have soared due to poor weather conditions in Russia and Ukraine.  According to the <a href="https://bit.ly/M4IH9Y" target="_blank">Australian Farm Institute</a>, Australia is the second biggest wheat exporter – hence why we see so many international investors eyeballing our crops.  However, the profit taking is dominated by the bigger players and in the meantime small communities are missing out.  Victoria’s government have been <a href="https://bit.ly/M4IR14" target="_blank">harshly criticised</a> for its plans to build over prime agricultural land in Werribee South and Casey, and the suburban sprawl is daily fodder for the passions of media journalism.
However, when you consider the challenges facing our increasing population, you’d be woefully shortsighted if you didn’t recognise the roll on effect assisting smaller land owners would present, in encouraging numbers to enter the industry and consequently reviving growth and business in dying regional communities.  Fostering an atmosphere where smaller farmers could compete without being swallowed up by larger companies (often part internationally owned) would be dependent on policy changes.  Areas not so centralised on capital locations should play a significant part in our grand plans for population accommodation.
Not everyone wants to be a city dweller.  A significant minority would happily relocate to regional centers if opportunity presented itself.  For example, a few weeks ago, in excess of 8,000 attended Melbourne’s Exhibition Centre for the inaugural Regional Victoria Living Expo. Following the expo, Peter Ryan, the Victorian Deputy Premier released evidence indicating 11% of Melbourne’s metropolitan residential population (around 450,000 people) are contemplating moving to regional Victoria in the next <a href="https://bit.ly/M4JzLM" target="_blank">three years</a>.  The challenge will be sourcing employment in the regional centers – the primary industries being agriculture and tourism.  The will is there if the chances arise.
Last week’s episode of Four Corners <a href="https://bit.ly/M4JS9w" target="_blank">“Casualties of the Boom”</a> uncovered similar sentiments.  The program focused on the small Queensland town of Moranbah, which is suffering a self-sacrificing demise as miners fly in and out without contributing to the greater community.  Although the majority of workers would choose to reside only temporarily, a significant minority would be happy to move their families and lives to the area permanently.  Unfortunately, the cost of housing and lack of essential facilities from smaller businesses, unable to compete with wages offered by the mining sector, prevent those willing from doing so. The key to solving this problem is closer work and communication from industry partners and local government with the community as a whole – ensuring dominance doesn’t always mean demise.
As it stands at present, demand for agricultural university graduates is double current supply and enrolments are diminishing. According to La Trobe University, over the past decade, the number of university campuses offering agricultural courses in Australia has fallen by more than half – <a href="https://bit.ly/M4Kg7K" target="_blank">down from 23 to nine</a>. Yet, Australian farms have grown into a $40 billion industry, with just over half our land mass devoted to agriculture.  Mining will adequately fuel Australia’s growth for the foreseeable future, but agriculture will be one of the prime industries we’re left with. Therefore, we need to make moves now to ensure opportunity in this sector serves Australia and her citizens – and more importantly, use the wealth to benefit and increase the feasibility of living in regional centers. It will take more than the NBN – we need to empower local communities to enable them to take control of local development.
Meanwhile global demand in our farmland is growing. <a href="https://bit.ly/M4Lct5" target="_blank">TIAA-CREF</a>, a leading US financial services provider, has recently raised $2 billion in commitments to invest in farmland in the United States, Australia and Brazil. On its website it states: “Farmland presents a risk-return profile that meets our depositors’ objectives and that offers portfolio diversification.” Other big investors allocating money into farmland assets include <a href="https://bit.ly/K1ubfa" target="_blank">Jim Rogers</a>, the chairman of Rogers Holdings and Beeland Interests, Inc. who has recently established an Australian farmland investment fund – boldly announcing that we’re in the middle of an agricultural “super cycle”. <a href="https://bit.ly/K1ucQ5" target="_blank">China</a> is pushing for less scrutiny in its Australian farmland acquisitions and according to one report, even the <a href="https://bit.ly/K1uzdF" target="_blank">Kiwis</a> can purchase Aussie farmland cheaper than Australian investors.  The ABS have foreign investment in Australian farmland at 11% – under current policy, this will no doubt increase.  Our own farmers simply can’t compete.
Of course, reviving regional localities is not just about agricultural investment – it’s part of a much broader plan.  Alignment of state and regional responsibilities, greater attention on transport and telecommunication, establishing strong connections between smaller and larger neighborhoods to enable the support and development of high performance industries, which will in turn attract a younger work force, are essential.   Let’s start developing our country for people and community rather than selling it off to big profiteers who have a vested interests elsewhere.  We are the lucky country by world standards, but complacency should never be allowed to dominate. Vertical living may suit some, however we need a better plan for all.  Part of that plan should be dramatically speeding up the regional agenda and this requires a much larger investment in Australia’s agricultural industry by way of education, along with immediate policy changes to level the playing field so smaller farmers are able to compete once again.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition. She is Channel Ten’s property expert on <a href="https://ten.com.au/the-circle.htm">The Circle</a> and a senior consultant for <a href="https://www.nationalpropertybuyers.com.au/">National Property Buyers</a> servicing the needs of property owners Australia wide.
</body></html>

catherinecashmore-6LXia3pPQj

We must encourage regional and rural living to house and feed our growing population

<html><body>
The inability of developers of residential property and the commercial property sector to access financing for their projects remains one of the biggest changes to the banking sector following the 2007 GFC, according to the Reserve Bank.
“The most significant change in business lending since the onset of the global financial crisis has been in the provision of finance to the commercial property sector, including developers of residential property,” says the RBA in its submission to the Senate Economics References Committee’s inquiry into the post–GFC banking sector.
“Some of this reflects the fact that the foreign banks which have scaled back their operations in Australia had large exposures to this sector. Other banks have also reassessed the risks of lending to this sector, in light of commercial property exposures accounting for a disproportionate share of impaired bank loans.
<img src="/images/stories/2012/06/rbajune51.gif">
“Beyond developments in commercial property, the softness in business credit in the years following the global financial crisis has reflected both weak demand from the non-mining business sector as it has taken a more conservative approach towards debt in an uncertain environment, and the mining sector making little use of domestic intermediated credit,” says the RBA.
Recently though, the RBA says, there have been some “tentative signs that larger business borrowers are willing to take on some additional debt”.
<img src="/images/stories/2012/06/rbajune52.gif">
</body></html>

Residential developers struggling to access financing post-GFC: RBA

<html><body>
It’s possibly the biggest property question in wintery Melbourne as home buyers and investors start getting shown through the renovated South Melbourne terraces on The Block 2012.
How much will The Block terraces on Dorcas Street fetch at their June 30 auction?
The appointed selling agents were advising $1 million plus as their indicative price guide. Some have moved along to $1.1 million plus already. All will monitor the progress of enquiry throughout the campaign to see how the price needs tweaking. Some have expressed the hope of achieving close to $1.2 million.
Property Observer has run the numbers over the expenditure to ascertain just where the profit would kick in for Channel 9’s hit renovation show.
The initial purchase of the four unrenovated terraces was $3.8 million through agents Karl Gillon and Kent Morgan, with another $209,000 spent on the stamp duty.
The television show production company then implemented a previously council approved $800,000 development application, albeit slightly reducing the scale of the proposal.
The contestant couples had equal budgets of a record $125,000, made up from cash and vouchers including:
<ul>
<li>$20,000 from Mitre 10 for hardware;</li>
<li>$10,000 from Carpet Court for flooring;</li>
<li>$10,000 from Beacon Lighting for lighting;</li>
<li>$20,000 from Freedom Kitchens for the kitchen;</li>
<li>$5,000 from Freedom Kitchens for the laundry; and</li>
<li>$20,000 from Reece for bathroom fixtures and fittings.</li>
</ul>
So for a real profit, it means each terrace must sell for $1,325,000 plus, not including the further expenditure arising from the weekly winning room/challenges cash prizes.
It puts the three-level terraces at well above the December 2011 median house price for South Melbourne, which was $1,097,500, and the more recent APM median of $1 million for the six months to April. There has been a $1.26 million average price over the past six months for three bedroom offerings.
Situated on the corner of Dorcas Street and Montague Street, the four terrace houses, constructed from solid brick with hand-carved timber staircases, would once have been considered among the finest homes in the suburb.
Its known costs total $5.3 million - and that is not including the unknown costs such as the architect Julian Brenchley who was enlisted to prepare the houses for renovation.
The production company spent a further $1.2 million on an adjacent Montague Street property hoping to secure planning permit to construct garage-loft space, which would have provided one car parking space and a studio for each of the dwellings.
But a Port Phillip Council spokesperson says the council refused the planning permit application. The production company did get some use from the acquisition, as it was used for workspace during production.
The four terraces, which are diagonally opposite former 1877 hotel The Star and Garter, have been tightly held, with the last known recorded sale being at about $360,000 in 1999.
It was bought by the television production company from Nottingham Funds Management, formerly known as Stanfield Funds Management, the corporate entity headed by the corporate lawyer turned property trust investor Darren Olney-Fraser since late 2009.
Channel 9 and the production company have generally not been too fussed by the actual sale price profit realisation, as they make their big money from the advertising associated with the hit series.
</body></html>

With $5.3 million outlay, The Block 2012 terraces will have to outperform South Melbourne market to make close to a profit

<html><body>
In my day job I work in a media agency. Lately it has been exciting to exchange stories of property experiences, it investment or otherwise, with my colleagues. Often we learn from each other and share some tips and tricks with one another all in the interest of, well, passing some time at the water cooler. And from my perspective it is great to get a feel for what others in the community who unlike myself don’t ‘live and breathe’ property, are thinking and doing. I welcome these conversations because they allow me to step outside of my own investment headspace and get a fresh or new perspective on things.
Today I was given one such new perspective, or should I say “opportunity”, in the property investment world. Mind you, it's hardly new, but new to me.
An Australian colleague who has been based in our Singapore office for the last few years has spent the last 12 months doing research and due diligence on the Balinese holiday villa market. She is looking to acquire land and build two luxury villas on it, turning them into high-rental-return investments – with the bonus of achieving great long-term capital growth prospects. What my colleague is actually seeking in doing this is what locals in Bali are calling the lucrative “Western dollar”. This market is specifically the luxury holidaymakers who want a bit more than a Jetstar pre-packaged crowded resort-style holiday. This market wants something more elusive, peaceful and off the beaten track, but still in reasonable proximity to all the attractions, and still in five-star luxury. And they are willing to pay for it.
Bali, although having been a tourism favourite for Australians for a very long time, is more recently undergoing somewhat of a gentrification process. And not just gentrification in the property investment meaning of the word, but in regard to the evolution of both its tourism industry, as well as its domestic supply-and-demand ratios for native Indonesian rental market within the Bali island itself. And this is a good thing.
The island is in more recent years now starting to attract the Western dollar beyond just the Australian and New Zealand travellers who historically have dominated the market. The island is increasingly more attractive to US, Canadian, UK, and European holidaymakers too, and this is important to note because in order to make such an investment viable, there must be signs of strong and increasingly growing demand for holiday accommodation. And of demand, there is plenty.
Property-wise, I've read a number of recent white papers on the Balinese property market (versus the broader Indonesian market separately) indicating steady capital growth over the past 10 years. The island is much more politically stable now than previous years, and is actually higher on the “desirability” list for internal migration for Indonesians due to this greater stability. The island’s comparable stability compared with larder cities Jakarta, Bandung, and Medan has resulted in a high migration internally to not just Denpasar on Bali island, but also the villages and towns around it. This is important because demand for housing by Indonesia’s domestic market, coupled with increased demand for tourist accommodation, has seen a steady increase in land and property values in this provincial island.
This information has inspired me to write today and invite the community to share their experience, or even basic knowledge and understanding of, the Bali property investment market. Are the returns as favourable as they seem? Can a development go ahead while being based in Australia? And how much time “on the ground” is needed from investors? Also, what are some of the bigger risks involved? Some bloggers have reported poor construction quality and poor site selection as being some of the greatest risks. Is this true?
Cameron McEvoy is a property investor and maintains a blog, <a target="_blank" href="https://propertyspectator.blogspot.com.au/">Property Spectator.</a>
</body></html>

cmcevoy-Go82SmsJA9

Property investment opportunities in Bali

<html><body>
Australia’s banks have increased the margins they earn on their loans by 25 basis points over the past 12 months adding to the 130-basis-point buffer built up over the previous four years, says the RBA in a submission on the state of the banking sector, post-GFC.
According to the RBA, the increases “reflect efforts by banks to retain their net interest margins in the face of a combination of higher funding costs  relative to the cash rate, a shift in the composition of funding towards higher-cost forms, including equity, and an increase in expected loan losses".
However, as the graph below shows, households have fared better than small businesses when it comes to the increasing cost of borrowing money:
<img src="/images/stories/2012/06/rbajune5.gif">
In its submission to the Senate Economics References Committee’s inquiry into the post–GFC banking sector, the RBA highlights that since the onset of the GFC in 2007 “there has been a lift in the whole structure of interest rates in the economy relative to the cash rate”.
“This has reflected higher wholesale credit spreads and increased interest rates on deposits due to increased competition. Higher funding costs for financial intermediaries have led to higher loan rates relative to the cash rate.
“This realignment of funding costs and lending rates, relative to the cash rate, has occurred at various stages over the past five years. While funding costs and lending rates had largely stabilised relative to the cash rate by the end of 2010, over the past year there has been a further increase in both funding costs and lending rates relative to the cash rate,” says the RBA.
However, the central bank says the implementation of new capital and liquidity standards under Basel III global bank rules is “likely to have only a marginal effect on lending rates relative to the cash rate”.
“As stated on a number of occasions, the Reserve Bank Board has taken these developments into account in its setting of the cash rate, to ensure that the lending rates faced by bank customers are consistent with the desired stance of monetary policy,” says the RBA.
</body></html>

Banks have pushed up their lending margins, but funding costs have risen: RBA

<html><body>
The collapsed construction arm of St Hilliers has resumed work on projects in the ACT and Queensland as administrators seek a buyer for the cash-strapped business.
Construction group Brookfield Multiplex has also been tipped as a possible buyer of St Hilliers Construction, according to a report in The Australian.
Work has resumed at the $30 million Bonner Primary School project, $12 million Airservices headquarters and $10 million Philip social housing complex following a “constructive” meeting with the ACT government earlier in the week.
St Hilliers chairman Tim Casey says work has also resumed at a number of Queensland projects, including housing projects for the Department of Defence, a $14.5 million building extension project at the St Lucia campus of the University of Queensland and a $10 million contract to build modular mining housing for Xstrata in Glenden in the Bowen Basin.
Casey says the $500 million worth of projects undertaken by St Hilliers has now shrunk to about $260 million after it was placed in administration.
Staff numbers at St Hilliers Construction are expected to fall from 360 to 200.
St Hilliers and administrators Trent Hancock and Michael Hird of Moore Stephens Sydney Corporate Recovery Group are also in discussions to reopen an office refurbishment project on Elizabeth Street in the Sydney CBD.
This follows St Hillier announcing that <a href="https://www.propertyobserver.com.au/industry-news/four-st-hilliers-sites-being-built-for-department-of-defence-to-reopen-today/2012052154764">four training facilities</a> – two in Queensland and two in Victoria that are being constructed for the Department of Defence with a combined value of $170 million –would reopen on May 21.
On May 17, St Hilliers announced that four sites had reopened: 153 Clarence Street, Sydney, NSW, a commercial office refurbishment; Chullora Marketplace, Greenacre in Sydney, extension and refurbishment of a retail complex; infrastructure works at Mt Arthur Coal Mine in Muswellbrook; and the mining housing project at Glenden Mine.
Work has also resumed today on a public housing project on Harbour Drive in Coffs Harbour, the Coffs Coast Advocate reports – one of 13 NSW public housing projects that the NSW government has taken over following St Hilliers being placed in administration.
St Hilliers was placed in voluntary administration on May 16 following the collapse of funding for a joint venture project to redevelop the Ararat Prison.
</body></html>

St Hilliers resumes ACT and Queensland projects with Brookfield Multiplex named as possible buyer

<html><body>
{yoogallery src=[images/stories/2012/05/june1geddes]}

<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">
The internationally renowned photographer Anne Geddes, famous for her portraits of babies often in cabbage patches, and her husband, Kel, have listed their impressive Potts Point apartment. It’s in the Alex Popov-designed block Grantham, which has front-row views of Woolloomooloo Bay, Sydney Harbour and the Bridge, Opera House and CBD skyline. It’s been listed through Jason Boon and Geoff Cox of Richardson &amp; Wrench Elizabeth Bay presumably with $7 million or so expectations. There are just the eight whole-floor apartments in the 2010 completed Halcyon Group development. Each apartment occupies a whole floor and comprises three bedrooms and three bathrooms, two ensuite. There are two car spaces for each of the apartments, plus generous storage areas. The SJB Interiors introduced a mix of natural stone, bronze and timber.
<img src="/images/stories/2012/05/shellcove1.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">
The Priory, the monastic Neutral Bay harbourfront estate listed with $10 million-plus hopes, has been sold. The sale price accepted by retired United Artists executive turned property developer Ken Stevens and his wife, Judit, has not been revealed by the listing agents Christie's agent Ken Jacobs and LJ Hooker Mosman's Richard Harding. It last traded in 2001 for $4.35 million when bought from the former Worldschool director-turned-property-investor Ashley Owen and wife Julie, who had paid $2.8 million in 2000. The 1906 Federation residence on a 914-square-metre block comes with a waterfrontage of 32 metres – deemed as one of the widest available on the lower north shore. It’s no doubt been bought by boating enthusiasts, as the Shellcove Road property's facilities include a mooring pen, a large L-shaped jetty, an iron slipway and a boat shed with a home office above it. In 1926, when The Priory was owned by a religious order, a chapel was added. It’s now the dining room with vaulted ceilings, cedar panelling and an impressive sandstone fireplace. The four-bedroom house near Kurraba Point wharf comes with a self-contained guest apartment. There's talk its been sold at $8 million plus to a Mosman buyer.
<img src="/images/stories/liverpoolst.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">The Ingham family has sold its long-held apartment (pictured above) in The Connaught, a high-rise residential tower opposite Hyde Park in the city. McGrath agents Ben Forsyth and Ben Collier had $2.6 million hopes for the 24th floor three-bedroom apartment with a 17-metre balcony. Title Tattle recalls it last traded for $505,000 in 1984, the year the Liverpool Street building was completed. When the 239 apartments came onto a depressed market in the early 1980s, they were initially slow sellers and prices realised were quite low.
 
<hr class="system-pagebreak">
{yoogallery src=[images/stories/2012/05/may31baker]}
 
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">The hapless debt-laden Sydney socialite property developer Gary Baker has lost his latest attempt to escape bankruptcy. The Federal Court rejected his appeal that the April 2011 bankruptcy should be overturned because two lenders – Perpetual and Challenger – had misled him and sold his trophy properties off too cheaply. The overly ambitious developer – best known for white zinc on his smiling lips while driving a 1957 Ford Thunderbird around Sydney’s eastern suburbs – particularly blamed a sky-high $5,595,000 apartment valuation given in 2007 for misleading him into thinking his prestige property empire was worth more than even he’d concluded. Baker’s case on appeal was based on his unchallenged evidence that but for the misleading valuation, he’d have offloaded a Bellevue Hill triplex apartment (pictured above) when offered $4.25 million in early 2008 rather than forlornly await offers closer to the $5,595,000 refinancing valuation. But the Bellevue Hill apartment eventually yielded only $3,001,000 at a mortgagee 2010 sale to antiquarian booksellers – with Baker arguing that part of the $1,249,000 difference would have been sufficient for him to have avoided his financiers bankruptcy attempts in an outstanding damages claim. Baker has declared that he is living "at no fixed address (living with family and friends)''. News.com.au says his sequestration paperwork lists his main creditor as his wife, Karin Upton Baker, being owed $5.1 million. Title Tattle understands the couple's former abode, the unsold Elizabeth Bay penthouse is now occupied by renters, including Sydney nightclub owner James Miller.
<img src="/images/stories/mitchellst.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Warringa, the 1880s McMahons Point residence (pictured above), has been sold by the Marshman family, who've bought the Surry Hills warehouse sold by Neville and Beryl Miles. Warringa had $5 million-plus hopes after failing to selling at its auction last month. The four-bedroom Mitchell Street house last sold at $2.4 million in 2000. The warehouse cost $5.71 million when bought at auction through McGrath agent Ben Collier in conjunction with Shannon Whitney at BresicWhitney.
{yoogallery src=[images/stories/april18gipps]}
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">One of East Melbourne’s most elegant terraces houses (pictured above) dating back to the early 1860s remains listed for sale after failing to sell at its May auction. The Gipps Street terrace, currently home to Delwyn Freestone’s Chrysalis Gallery, comes with a striking all-white Classical Italianate Revival façade, the work of renovations in the 1880s by architects Terry and Oakden. It sold at $920,000 in 1999. Around $4.5 million was expected by Rob Vickers-Willis at Abercromby's Real Estate. Chrysalis Gallery will continue to open during the sale of 179 Gipps Street. The gallery will relocate at a date to be confirmed.
{yoogallery src=[images/stories/april11anchorage]}
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">
Sanctuary Cove has a new record-setter mansion (pictured above). The Anchorage Terrace mansion, which came with adjusted $13.75 million price hopes on its April listing through Ray White Sovereign Islands agent Ali Mian, has reputedly been sold for around $12 million. It’s 1,000-square-metre mansion with a 43-metre river frontage. <a href="https://www.propertyobserver.com.au/queensland/sanctuary-cove-stunner-listed-with-%2413.75-million-price-tag/2012041154214">The house has symmetrical designer interiors</a>, from its grand double-wing staircase entrance to its heated pool. It has hallways reflecting the strong black-and-white palette of the French fashion house Chanel, the latest home technology system, plus tepanyaki bar, home cinema and Swarovski crystal chandeliers. The land was consolidated by tourism entrepreneur Chris Scott, who bought two neighbouring houses, and finished off by UK-based businessman John Baines and his wife, Elizabeth. They paid $4.3 million in 2009 for the shell of a home on its 2,836-square-metre holding, which then had a Greg Reid-designed house built by Thomas Hughes Construction. The Baines have previously sought $17.5 million for the property on earlier listings. The prior Sanctuary Cove record was $7.22 million on Bayview Terrace.
 
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Freemantle Football Club player Adam McPhee and his wife, Bree, didn’t sell their former Port Melbourne home at auction last weekend through RT Edgar agent Gerald Betts. The renovated traditional Victorian terrace was bought when the then Essendon player paid $885,000 when he moved from Ascot Vale in 2007. It has three bedrooms, two bathrooms plus secure car parking. There’s a rooftop terrace with views over the beach to Port Philip Bay. It went into the rental pool at $1,650 a week after his move west. The couple were hoping for around $2 million for the Beaconsfield Parade property.
{yoogallery src=[images/stories/november8collette]}
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">
And hasn't Academy Award-nominated actor Toni Collette been in our faces this week with the CBA can/can't ad campaign. Of course <a href="https://www.propertyobserver.com.au/new-south-wales/toni-collette-faces-a-supreme-court-non-performance-claim-for-the-%24850000-difference-on-abandoned-paddington-purchase/2012053054902" target="_blank">Title Tattle has been following her many property plays of late </a>and next week her property settlement legal proceedings will be back in the Supreme Court list. Title Tattle revealed the likely quantum of the claim for non-performance of her once intended Paddington terrace. Collette and her musician husband, David Galafassi were set to pay $6.35 million for the Stewart Street house, which resold this week for about $5.5 million through McGrath agent Ben Collier. It's not known what defence the entertainment industry couple will mount to explain their alleged contractual non-performance. The new owner of the Paddington terrace is Ian Ball, the Ernst and Young accountant and chief executive officer of the International Federation of Accountants. And hats off to the Sydney Confidential sub-editors and advertising reps at the Daily Telegraph for their co-ordination!
<img src="/images/stories/2012/05/collettead2.jpg">
</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