<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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"The cockroaches have even moved out" is the marketing tagline for a waterfront property up for sale in Church Point, near Bayview.
It’s an old fisherman’s cottage on 390 square metres of bayside land that has been held by the same family for 40 years.
The dilapidated home is nestled among a row of renovated prestige Sydney Pittwater properties, each with jetties into the water.
The home, with views across to national park land is marketed as an opportunity to demolish and start from scratch.
Ross Ewington from LJ Hooker Mona Vale hopes to secure around $800,000 at auction.
 
 
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Cockroach-free Church Point waterfront cottage  on the market 

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Western Australian Treasurer and Attorney-General Christian Porter says a flat housing market has cost the state government an estimated $836 million in projected stamp duty over the next four years.
In his budget speech to Parliament he said “transfer duty forecasts in this budget have been revised down by $836 million, reflecting ongoing weakness in the housing market”.
Porter told Fairfax Media house buyers were waiting for the market to bottom out.
“You would hope that it would improve, but right now there is not movement,” he said.
“Buyers still think that the bubble that burst after 2005 and 2006’s extraordinary growth has not yet quite reached the bottom.”
Budget papers show transfer duty was about $1.2 billion for both 2010-11 and 2011-12, a figure expected to go up 17.7% to $1.45 billion for 2012-13. The government predicts a 17.7% rise to $1.45 billion next year, with the start of a recovery in the market.
The budget Porter presented says transfer volumes has been low in recent years but is expected to improve.
“Housing transfer duty has suffered from weak established housing transaction volumes and house prices in recent years, with average monthly transactions since 2008-09 around  35% lower than the previous four years.”
“However, transfer duty is expected to improve over coming years in line with a forecast recovery in housing demand.”
In the budget, Porter concedes the estimate for actual income from stamp duty may change.
“Property transactions are highly susceptible to fluctuations in market sentiment and are therefore highly volatile and difficult to forecast.”
“The current transfer duty forecasts are balanced against the risk of continued weakness in the housing market and the risk that market sentiment could quickly change and cause  a faster than expected recovery in transaction volumes,” he says.
In the budget he says property transaction volumes are expected to improve along with a modest increase in residential property prices.
“Transaction volumes are expected to move toward a long-run trend over the forecast period, while residential property prices are forecast to increase at a modest rate broadly in line with the expected growth in incomes (of around 5-6% per annum).”
Porter expects in four years, transfer duties will be at lower levels than before the global financial crisis.
Despite the fall in revenue Porter has kept stamp duty concessions for first-home buyers. The concession waives duty on properties under $500,000.
REIWA president David Airey says the concession is needed to support the housing market. He says first-time buyers are one of the few groups active in the current market.
“I’m pleased to see the government has retained its stamp duty concession for first-home buyers, because this has been successful in maintaining first-home buyers at around 25 to 27% of the market over the past 12 months,” he says.
“The importance of the stamp duty concession for first home-buyers in the modest market recovery currently being experienced cannot be underestimated.
“REIWA analysis of the budget papers indicates that, as usual, property buyers will carry much of the burden of the shortfall in GST revenues as the government, by not indexing thresholds, reaps the windfall gain from projected price and sales volume increases.”
He says he is disappointed there are no stamp duty concessions for older citizens looking to downsize their housing, saying it’s a lost opportunity to free up housing capacity at a time when supply is tight.
He says the Perth rental market is under enormous pressure caused by a growing population, low vacancy rates and increasing rents.
The government has committed $130 million towards construction of social housing dwellings over the next two years.
Western Australian Council of Social Services CEO Irina Cattalini welcomed the construction investment but says it falls short of demand.
"While the housing initiatives are welcome, the overall investment in social housing will not do enough to reduce the time people are stuck on the social housing waiting list – which has grown from 113 weeks last financial year and will continue to increase to 134 weeks in 2012-13," Cattalini told Perth Now.
 
 
 
 
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Flat WA property market could cost state government $836 million in lost stamp duty: Treasurer

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The first creditors meeting for the collapsed construction arm of St Hilliers has been set for May 25 as accusations continue to fly over decisions to award government contracts to the Sydney-based property and construction group just months before it collapsed.
A spokesperson for administrators Trent Hancock and Michael Hird of Moore Stephens Sydney Corporate Recovery Group says the meeting will be held in Sydney but could not provide details about the number of creditors or how much they are owed.
Creditors will include hundreds of building contractors, many of which are small business operators who have worked on St Hilliers projects around the country and have not been paid for their work.
Yesterday the administrators met with major clients, but smaller contractors are yet to receive any reassurances.
At the same time the NSW’s Barry O’Farrell government continues to come under heavy fire for awarding tenders to St Hilliers to take over 13 public housing projects in Wollongong, the Hunter, Shoalhaven and Coffs Harbour worth $25 million just two months ago.
St Hilliers won the tender to complete the projects following the collapse of previous contractor, Sydney-based building company Perle, in February last year.
Embattled NSW Finance Minister Greg Pearce says the federal government should investigate the collapse of the construction business and has accused St Hilliers of using the voluntary administration as “cynical attempt” to avoid its debts.
However, Pearce has in turn been accused of passing the buck after approving St Hilliers as the winning bidder for the public housing projects.
Pearce has defended the appointment of St Hilliers and says the NSW government performed two financial assessments of the company before it was contracted to complete the NSW projects.
He claims that “no one at all raised with me any issue about St Hilliers’ financial position”.
Among those caught out by the collapse is Lake Macquarie landscaper Matt Corfield, who worked on a public housing project in Teralba in the Hunter and is owed more than $6,000 by St Hilliers and a further $10,000 from Perle.
Corfield told the Newcastle Herald he had received “an iron-clad guarantee” from St Hilliers he would be paid because “there was no way the government could afford the embarrassment of a second collapse”.
"Now this has happened. They owe me $6,732. It was supposed to be a stimulus job, but it’s reverse stimulus because it could put us out of business.”
Corfield has three full-time employees, a full-time apprentice and a casual worker, who he says could all end up on the dole as a result of the collapse.
The Coffs Coast Advocate reports that Coffs Harbour tradesmen working on a public housing project are owed $660,000 and like Corfield have been caught up in the second collapse of a government-appointed building contractor on the same project.
 
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Yesterday, administrators announced that <a target="_blank" href="https://www.propertyobserver.com.au/news/anxious-wait-for-creditors-and-contractors-as-30-st-hilliers-projects-worth-%24300-million-stuck-in-limbo/2012051754737">four St Hilliers projects</a> – two commercial projects in Sydney and mining projects for BHP and Xstrata – had reopened but as many 26 remain closed leaving up to 1,000 contractors out of work and not yet paid.
The four projects have a combined value of $31 million but still leave the value of stalled projects at between $300 million to $500 million based on different media estimates.
It’s difficult to calculate the value of current St Hilliers projects, as all links on the company’s website lead to the administrators’ statement – archived press releases are inaccessible.
In a strange coincidence Greg Pearce’s website <a href="https://www.gregpearce.com.au/" target="_blank">https://www.gregpearce.com.au</a> is also not working and automatically redirects to <a target="_blank" href="https://www.myelectorate.com.au/">https://www.myelectorate.com.au/</a>.
Yesterday the administrators, Trent Hancock and Michael Hird of Moore Stephens Sydney Corporate Recover Group, along with St Hilliers executive chairman Tim Casey and his team met major clients.
The Department of Defence has $173 million of work with St Hilliers.
A spokesman said it was investigating options with the administrators that would deliver the “best outcomes for all parties as soon as possible”.
But the cause of the problem, the need for an additional $150 million in funding for the Ararat Prison extension, is unresolved.
Victorian Corrections Minister Andrew McIntosh says the larger players in the project’s consortium, including Commonwealth Bank and Bilfinger Berger, should deliver the Ararat Prison and pay all contractors and sub-contractors.
“It is incumbent on them to deliver on their contractual obligations,” he said on a visit to Ararat.
He said the government was committed to the project but played down any government intervention.
“The best use of taxpayers’ money is to enforce the terms of that contract,” he said. “The most important thing is we desperately need the 350 beds as soon as possible.”
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St Hilliers creditors’ meeting set for May 25 as hundreds of contractors still await payment on projects

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{yoogallery src=[images/stories/may18hambledonhills]}
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Hambledon Hill, the two-storey 30-room 1860s Hunter Valley residence (pictured above), has been listed for sale by artist Dale Frank. The sandstock brick homestead – typical of the transition period from the late Georgian to the Victorian era – has been listed by Franks through First National Max Bailey agent Scott Bailey. Frank is among Australia’s foremost contemporary painters, with a career spanning more than three decades. His works have been most recently exhibited at Roslyn Oxley9 Gallery, Sydney and Anna Schwartz Gallery, Melbourne.  In 1983 his work was included in the exhibition Panorama della post – critica: critica ed arte at the Museo Palazzo Lanfranchi in Pisa and in 1984 he was included in the Aperto section of the Venice Biennale. Towards the late 1990s, Frank began experimenting with commercial varnishes and the chemical reactions that occur when certain pigments are added. He's added a studio to the property - blending with the orginal architecture - in 2008.
With views down the valley between the Brokenback and Barrington mountain ranges, the  property is nine kilometres from Singleton. It was built by an English merchant and horse breeder, Richard Dines, who hosted a seven-race St Patrick's Day race meeting to celebrate its completion in 1865. It sits in gardens including Queensland kauri, Morton Bay fig and Norfolk pine planted more than 140 years ago. An underground irrigation system fed from the Hunter River provides water for the gardens. Its previous owners include Edward Lloyd-Jones, a director of the David Jones retailing family, who bought the then 300-hectare property in 1914 and ran a cattle stud until he sold to a local dairy farmer, Bert Ball, in 1926. Upon his death, it was passed on to his son, James Ball, in 1982. In 1988 the property was bought by the Sydney publishers Kay and Garry Burke. Frank bought it from consultant to the airport industry Coralie Kelly who bought it in 1999. No price disclosure has been given, but it joins Neotsfield, another Hunter Valley homestead, that comes with $1.4 million plus hopes through Ray White Singleton. Ofcourse Neotsfield, once the Dangar pioneering family property, now sits on just nine hectares at Whittingham, and the Hambledon Hill property is 18 hectares and does come with indirect Melbourne Cup winning connections. Richard Dines had previously owned the 1868 Melbourne Cup winner, Glencoe. The district has produced at least 10 Melbourne Cup winners: Glencoe (1868), Lord Cardigan (1903), Poseidon (1906), Lord Nolan (1908), Prince Foote (1909), Piastre (1912), Nightwatch (1918), Poitrel (1920), and Peter Pan (1932 and (1934) which is buried at Baroona, another Dangar family homestead.
<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), comes with $5 million-plus hopes after failing to selling at its auction last weekend. The four-bedroom Mitchell Street house has been listed by the Marshman family with initial $5.5 million-plus hopes in March. It last sold at $2.4 million in 2000. They are the couple who've bought the Surry Hills warehouse recently sold by Neville and Beryl Miles for $5.71 million through McGrath agent Ben Collier inconjunction with Shannon Whitney at BresicWhitney.
<img src="/images/stories/wellingtonst1.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">
International sailing champion owner Jake Gunther is selling his Tuscan-style Brighton house (pictured above). The five-bedroom, six-bathroom house, designed by Edgard Pirrotta, has reported $4.9 million-plus hopes through Kate Strickland from Marshall White for its May 30 auction. Gunther, the president of the International Etchells Association, is the Australian champion of the Olympic Finn Class. He is also the owner of the bayside property development company Gunther Developments. Cameo, the Tuscan-styled 2002 Wellington Street house, comes with a rooftop terrace with bay views.
 
<img src="/images/stories/russellst1.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">The head of Credit Suisse’s global metals and mining equity research business, Paul  McTaggart, and wife Susan have listed their Vaucluse house with $3.3 million-plus hopes for its June 2 auction. It's a six-bedroom, three-bathroom house that has been refurbished since bought in 1998 for $1,156,000.
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Cinematographer Steve Davis and his wife, personal stylist Kath Davis, have listed their Warrawee weatherboard set on a 1,839-square-metre block with veggie patch and chook run. The 100-year Findlay Road house originally a fruit picker’s cottage comes with $1.4 million plus hopes. It cost $1.3 million in 2010.
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jchancellor-FAypfDUnLy

Artist Dale Frank lists his colonial Hunter Valley retreat: Title Tattle

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<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/mrs-morris-stops-palm-beach-clifftop-sale-of-ex-gp-noble-boss-tony-morris-former-australian-home/2012051154666"><img src="/images/stories/5m.gif"></a>
The vendor bid in March for <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/mrs-morris-stops-palm-beach-clifftop-sale-of-ex-gp-noble-boss-tony-morris-former-australian-home/2012051154666">ex-GP Noble boss Tony Morris' Palm Beach clifftop home</a>. It was passed in at its March auction, and now his soon-to be-ex-wife, Vanessa Morris-Jackson, has stopped the sale. There was an application to the Australian Federal Magistrates Court by his bankruptcy trustee Andrew Wily to sell it - for reputedly about $4.6 million. But Magistrate Rolf Driver ruled against Wily’s application to delete the requirement for Vanessa’s consent to any sale of the northern beaches clifftop house.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/what-baby-boomers-retirement-will-mean-for-the-sydney-property-market-bis-shrapnel-s-martin-bregozzo/2012051354458"><img src="/images/stories/25percent.gif"></a>
The percentage of<a target="_blank" href="https://www.propertyobserver.com.au/residential/what-baby-boomers-retirement-will-mean-for-the-sydney-property-market-bis-shrapnel-s-martin-bregozzo/2012051354458"> Sydney's population who are baby boomers</a>. "Location is paramount" to this group, according to BIS Shrapnel's Martin Bregozzo, and "they will not be herded off to Sydney’s Never Never."
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/1st-fleet-s-stephen-brown-owns-just-one-thousandth-of-his-%2416-million-harbourfront-watson-bay-property-listing/2012051354676"><img src="/images/stories/1over1000.gif"></a>
The amount of equity that <a href="https://www.propertyobserver.com.au/new-south-wales/1st-fleet-s-stephen-brown-owns-just-one-thousandth-of-his-%2416-million-harbourfront-watson-bay-property-listing/2012051354676" target="_blank">1st Fleet boss Stephen Brown has in his Sydney Harbour home</a>, which is on the market with $16 million price hopes. His wife, Corrine, holding the remaining 999/1,000 equity.
 
<hr>
<a target="_blank" href="https://mcconnellbourn.com.au/buying/NSW/North-Shore-Upper/PYMBLE/House/1P2397"><img src="/images/stories/31.gif"></a>
The number of contracts estate agency McConnell Bourn has received for the property at at <a target="_blank" href="https://mcconnellbourn.com.au/buying/NSW/North-Shore-Upper/PYMBLE/House/1P2397">55 Beechworth Road, Pymble</a>, which is going to auction on Saturday.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/western-australia/warren-andersons-wa-beachfront-retreat-kennebunkport-s-revised-pricing-title-tattle/2012051454623"><img src="/images/stories/5point2mplus.gif"></a>
The revised price hopes for Kennebunkport, the <a target="_blank" href="https://www.propertyobserver.com.au/western-australia/warren-andersons-wa-beachfront-retreat-kennebunkport-s-revised-pricing-title-tattle/2012051454623">Western Australian beachfront retreat of bankrupt property developer Warren Anderson</a>. The six-bedroom home has direct beach access, high ceilings and jarrah floors.
 
<hr>
<img src="/images/stories/2.gif">
The number of lenders that passed on the full RBA 50-basis-point rate cut. Of the bigger lenders, ING Direct is offering the lowest standard variable rate of 6.44%.
 
<hr>
<a href="https://www.propertyobserver.com.au/overseas/christopher-robins-16th-century-childhood-home-on-nine-not-100-acres-on-the-market/2012051554699" target="_blank"><img src="/images/stories/2mpounds.gif"></a>
The starting price <a href="https://www.propertyobserver.com.au/overseas/christopher-robins-16th-century-childhood-home-on-nine-not-100-acres-on-the-market/2012051554699" target="_blank">for the East Sussex childhood home of Christopher Robin, of Winnie the Pooh fame</a>. It’s the first time in over four decades the 16th-century English house on nine (not 100) acres has been offered for sale.
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The 7 must-know numbers of the week, starting with the vendor bid for ex-GP Noble boss Tony Morris' Palm Beach home

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The Victorian government has changed the way in which it will be assisting first-home buyers so that more people benefit.
The first-home buyers’ grant of $7,000 remains available for all those buying their first home for $750,000 or less. The grant is paid by the state government and has no scheduled end date.
First-home buyers also benefit from a 20% reduction on their stamp duty bill. That means that on the purchase of a $400,000 home they will save $3,274 and on a $550,000 home they will save $4,994. The stamp duty reduction is not available for homes priced over $600,000.
The good news is that on January 1, 2013 the cut to stamp duty will increase from 20% to 30%. That means that on the purchase of a $400,000 home they will save $4,911 and on a $550,000 home they will save $9,321.
The stamp duty cut will then increase to 40% on January 1, 2014 and then to 50% on September 1, 2014.
From July 1 this year the first-home buyers’ bonus will no longer be available. The bonus was only for first-home buyers of new homes and was introduced a few years ago to stimulate the building of new homes during the GFC. It has done its job and now the government’s preference is to help all first-home buyers. Those buying a new home off the plan will still benefit from concessions to stamp duty.
There is other assistance available for different groups, including exemptions for deceased estates, family farms, young farmers and pensioners. Details on those programs and the exact criteria for the assistance for first home buyers can be found at <a href="https://www.sro.vic.gov.au" target="_blank">www.sro.vic.gov.au</a>.
Enzo Raimondo is CEO of the <a href="https://www.reiv.com.au/" target="_blank">Real Estate Institute of Victoria</a>.
 
 
 
 
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Government changes helping more Victorian first-home buyers

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The 1902 Fremantle landmark the Elder Building has been listed for sale at $5 million with an adjoining separate vacant block available at $2 million. The block would be suitable for a four-storey building, according to the listing agent.
The stately Federation Free Classical offering had a $9.5 million asking price in 2010.
The building with a limestone façade and Melbourne bluestone is topped off with a copper-clad, domed turret designed for the merchants and shipping agents Dalgety &amp; Co by Western Australian architect J.J Talbot Hobbs.
The land had been purchased from George Shenton, the Perth lord mayor between 1886 and 1888.
The ship lookout at the top on the top of the tower is 21 metres above the pavement.
Costing £40,000 and then representing the largest contract let privately in the state for a building, it is highly representative of 19th-century shipping offices with the grand business hall.
Frederick Gonnerman Dalgety had arrived in Sydney in 1834 before moving to Melbourne in 1842 as manager of the new firm. Dalgety prospered especially during the Victorian gold rush in the early 1850s, returning to England in 1854 to establish the headquarters of a metropolitan-colonial enterprise dealing mainly with Victorian pastoral companies. Dalgety &amp; Co. continued to grow after the founder died in 1894.
Its ownership was transferred in 1927 to the agribusiness Elder Smith &amp; Co and became known as the Elder Building.
During WWII it was requisitioned by the Australian Navy as its administration and intelligence headquarters.
It housed the Norwegian shipping company, Wilhelmsen Line, for 23 years and more recently Challenger TAFE. Ale Nominees sold it to the current investment syndicate in 2002.
A mixed-use residential and commercial development would be possible, says listing agent Fleur Barrett at O'Byrne Estate Agents Fremantle.
The 1,700-square-metre building on a 1,484-square-metre site could be refurbished as a private residence, converted to a boutique hotel, or made into an art gallery with artists' studios and accommodation for artists in residence.
It’s set at the corner of Phillimore and Cliff Streets.
Another 1902 Talbot Hobbs designed Cliff Street building, the Samson Bond store building, was converted into 13 luxury apartments in 2007.
 
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Fremantle’s 1902 Elder Building listed with $5 million hopes

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Work has stopped on 26 building projects worth $300 million across Australia following the <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/st-hilliers-construction-arm-placed-in-voluntary-administration/2012051554713">collapse of the construction arm of St Hilliers.</a>
Administrators to St Hilliers Construction Pty Ltd, Trent Hancock and Michael Hird of Moore Stephens Sydney Corporate Recovery Group, advised that four construction sites operated by St Hilliers Construction Pty Ltd have reopened today including 153 Clarence Street, Sydney, NSW – a commercial office refurbishmen, Chullora Marketplace, Greenacre, Sydney, NSW – extension and refurbishment of a retail complex, Mt Arthur Coal Mine, Muswellbrook, NSW – infrastructure works for a mine site and Glenden Mine, Bowen Basin, Queensland – housing construction for a mine site
The Administrator and St Hilliers executive chairman Tim Casey and his team are working together and in active discussions with all clients, with the objective of reopening as many construction sites as soon as possible.
Closed projects range from state government social housing projects only recently awarded to St Hilliers to defence projects, a new school, mining accommodation projects, office redevelopments and luxury apartment blocks.
Some St Hilliers sites have already been blocked off, with one local business operator in The Rocks in Sydney tweeting that a St Hilliers apartment project on Cumberland Street had been blocked off, with a guard standing outside.
“Just went to Cumberland street and St Hilliers have a big security guard stationed in the foyer. They never did before,” tweeted ‘Stuart C’.
The collapse of the business has placed around 1,000 contracting jobs at risk, with many contractors yet to be paid for projects they have worked on.
Creditors will have to wait more than a week to find out what administrators are proposing for the failed business.
A spokesperson for administrators Trent Hancock and Michael Hird of Moore Stephens Sydney Corporate Recovery Group told Property Observer a creditors' meeting is expected in the next 10 days.
In NSW, current building projects in limbo include 13 social housing projects being developed on behalf of the state government as well as the construction of mining infrastructure for BHP Billiton in its Mt Arthur Coal Mine in Muswellbrook.
<img src="/images/stories/redcross.jpg">
Other prominent NSW projects include the heritage-listed Red Cross Building in 153 Clarence Street in the Sydney CBD (pictured above), which St Hilliers bought last year and is currently converting into strata offices.
<img src="/images/stories/gateway.jpg">
In Victoria, St Hilliers has been contracted to build the Ashwood Chadstone Gateway Project (picutred above and artist's impression below) for the Port Philip Housing Association, with the aim of delivering a mix of 210 affordable rental homes and 72 private homes.
<img src="/images/stories/gateway2.jpg">
 
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Projects in Queensland include two training facilities for the Department of Defence as part of a $1.4 billion infrastructure project at Gallipoli Barracks in the Brisbane suburb of Enoggera.
St Hilliers is also working on building project within the St Lucia campus of the University of Queensland and an accommodation project for Xstrata Coal’s Glenden Mine near Mackay.
ACT projects include a $27 million school in Bonner for ACT Department of Education, a maintenance training facility for the Department of Defence and headquarters for the government’s Air Services Australia.
Some government projects had only recently been awarded to St Hilliers Construction, including a tender awarded in March to take over failed public housing projects in Wollongong, the Shoalhaven and Coffs Harbour (pictured below).
<img src="/images/stories/coffsharbour2.jpg">
These projects are almost complete, but contractors have not been paid.
Speaking to the ABC, Coffs Harbour MP Andrew Fraser said he was “absolutely livid” at the decision to award the tenders to St Hilliers. "The Department of Housing ought to be hung out to dry.
"I've got a call into the minister, I'm waiting to hear back from him, but as far as I'm concerned we as a state government must make good these losses,” Fraser said.
According to NSW finance minister Greg Pearce the fate of 12 public housing projects that St Hilliers was contracted complete remains unclear.
The NSW government has organised a meeting with the management of St Hilliers and the administrator to discuss the status of the government contracts.
According to St Hilliers, its other funds management, property development and asset management are all operating as normal. The websites for these businesses all link through to the voluntary administration statement, and previous press releases and statements about projects cannot be accessed.
St Hilliers joint venture project with New Zealand firm Hawkins to redevelop the prison has been placed in liquidation.
<img src="/images/stories/araratprison.jpg">
Victoria State Corrections Minister Andrew McIntosh is touring the Ararat prison site (artist's impression above) today following the collapse of the joint venture project.
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Anxious wait for creditors and contractors as 30 St Hilliers projects worth $300 million stuck in limbo

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Properties have been discounted by as much as 39% in SQM Research's latest list of the most discounted properties in Australia.
The list, usually dominated by Queensland, has properties from South Australia, NSW, WA and Tasmania.
The top discounted property was in Campania, Tasmania, with its current advertised price down $130,000 from the original asking price of $200,000.
Meanwhile, longstanding leader of the pack, 92 Beelong Street in Macleay Island, Queensland, has sold after 706 days. It eventually sold for $340,000 – 42% less than the original asking price of $590,000, which is what the vendor paid for the property in December 2007.
"This home was sold at a loss of at least $250,000, not to mention any interest accrued on the original mortgage! Indeed, the property itself is not situated in a particularly sought after location (Macleay Island) but a loss of this proportion is still notable and possibly devastating," says SQM managing director Louis Christopher.
"The original online advertisement mentioned that the mortgagee was in possession for this property, in which case the desperation to sell regardless of the fetching price is perhaps better understood."
 <h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">1</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008421301" target="_blank">27 Reeve Street, Campania, Tasmania, 7026</a>
On the market since: June 14, 2010
Initial asking price: $330,000
Current asking price: $200,000
Reduction: 39%
Days on market: 694
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<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106542744" target="_blank">11 Pyrites Road, Brukunga, SA, 5252</a>
On the market since: May 23, 2010
Initial asking price: $253,000
Current asking price: $155,000
Reduction: 39%
Days on market: 713
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">3</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008766488" target="_blank">202 Wolstenholme Avenue, Greendale, NSW, 2745</a>
On the market since: January 16, 2011
Initial asking price: $2,950,000
Current asking price: $1,850,000
Reduction: 37%
Days on market: 476
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">4</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106211228" target="_blank">15 Gretel, Two Rocks, WA, 6037</a>
On the market since: December 26, 2009
Initial asking price: $1,100,000
Current asking price: $699,000
Reduction: 36%
Days on market: 861
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007736307&gt;" target="_blank">26a Paling Street, Thornleigh, NSW, 2120</a> (pictured)
On the market since: May 16, 2009
Initial asking price: $1,100,000
Current asking price: $700,000
Reduction: 36%
Days on market: 1,085
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">6</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007217761" target="_blank">1302 Birkdale Pl, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,418
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">7</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106358770" target="_blank">27 Light Avenue, Munno Para West, SA, 5115</a>
On the market since: February 27, 2010
Initial asking price: $482,687
Current asking price: $319,000
Reduction: 34%
Days on market: 798
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">8</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107430484" target="_blank">319 West Coast Drive, Trigg, WA, 6029</a>
On the market since: May 28, 2011
Initial asking price: $4,500,000
Current asking price: $2,990,000
Reduction: 34%
Days on market: 343
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">9</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2006781491" target="_blank">22 Beach St, White Beach, Tasmania, 7184</a>
On the market since: July 1, 2008
Initial asking price: $250,000
Current asking price: $170,000
Reduction: 32%
Days on market: 1,407
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">10</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106289694" target="_blank">309 Scarborough Bch Rd, Woodlands, WA, 6018</a>
On the market since: February 7, 2010
Initial asking price: $1.1 million
Current asking price: $750,000
Reduction: 32%
Days on market: 818
</body></html>

Queensland not featured on SQM most discounted list as Macleay Island property sells at last

<html><body>
Sunland Group Limited has agreed to spend $30 million on a 33.4-hectare block of land in outer-Melbourne suburb Point Cook.

The site is due to be developed into 470 allotments over the next five to seven years.

The acquisition is the latest in a string of land purchases for the company, which spent $19 million on a 7.2-hectare block of land in Victoria’s Springvale and $13 million on a site in Queensland’s Mariner’s Cove.

Managing director of Sunland Sahba Abedian told Property Observer the acquisition is part of itsongoing presence on the subdivision market.

“We’ve had a presence in Melbourne for 12 years. Our operation has extended from urban developments to residential housing and high-rise residential as part of this organic replenishment of our portfolio and having a continued presence in the urban development sector.”

“We felt this opportunity was very befitting and accordingly we think this development at Point Cook will ensure we have an ongoing presence in the subdivision market.”

Point Cook is 25 kilometres south-west of Melbourne and has been the subject of major development over the last 15 years.

Abedian says the area has been the subject of much development and acknowledges state and local government will have to spend time upgrading infrastructure.

“The suburb has been one of the fastest-growing municipalities consistently over the last five years. There’s no doubt it’s experiencing some infrastructure bottlenecks. 

"But having that said that, it is still regarded as one of the premier residential enclaves in terms of growth. Over time, council will no doubt address the bottlenecks that have come as a consequence of this fast pace of growth.”

Abedian says the parcel of land is the last developable block of land in the area.

“The reality of this acquisition, when you look at Point Cook strategically, there are not that many large-scale parcels available. This represents one of the last strategic holdings in that corridor.”

“The timing of our delivery project coming online is within the next 12 to 18 months. We’re confident the conditions will continue to bode well even though nationally market conditions are somewhat subdued.”

Sunland has been aggressively buying back its own shares in a bid to push to the value up for shareholders. Fairfax Media reports the company's share has been traded about half stated asset backing since the global financial crisis struck in 2008.

The buyback was put on hold after a poor December result, but the company has since restarted the buyback.

Abedian says the company is on track to reduce the number of shares to 150 million.

“We’ll be maintaining a conservative balance sheet.”
The block of land is at 333 Point Cook Road.
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