<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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Jock Whittle has been appointed chief executive officer of the Macquarie Pastoral Fund, which runs the Paraway Pastoral Co.
The appointment follows a decision by the fund's former chief David Goodfellow to re-join Elders as group general manager for its Australian network. For the past 19 months the Elders network's management has been overseen directly by Elders chief executive officer Malcolm Jackman, who assumed responsibility for network performance on a temporary basis following disappointing performance results in 2009-10.
Whittle has been at the Macquarie fund since 2008 having previously been with Clyde Agriculture, Westpac and National Australia Bank's agricultural businesses.
After 30 acquisitions, the Macquarie Pastoral Fund has 3.5 million hectares of property in New South Wales, Queensland and the Northern Territory. The properties have a carrying capacity for more than 240,000 sheep and 220,000 cattle.
Its most recent acquisition was Hay, NSW property. It was part of TA Field Estates' Pevensey Station, west of Hay close to Mungadal Station which Paraway purchased in 2010.
The purchase took Paraway's land total in the western Riverina to more than 170,000 hectares since Paraway was formed five years ago.
A prominent former NSW Country rugby back rower, Whittle has a master of business administration degree from the Australian Graduate School of Management and a bachelor of science in agriculture degree from the University of Sydney after growing up on his family's sheep and cropping Wellington property in rural NSW.
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jchancellor-FAypfDUnLy

Jock Whittle to head Macquarie Pastoral Fund

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Actor Jodi Gordon, the fiancée of rugby league player Braith Anasta, has listed her redundant <a target="_blank" href="/news">Potts Point</a> apartment. The former Home and Away star has $625,000-plus hopes for the property.
It’s listed through her future brother-in-law Damon Anasta and Vanessa White, both estate agents at McGrath Estate Agents. They have it listed for private treaty sale without an asking price in its public marketing.
The two-bedroom, one-bathroom Springfield Palms unit is split level. It comes with two balconies.
Last year the Sydney Roosters captain Anasta sold his <a target="_blank" href="/news">Malabar </a>investment property. Listed with $1.25 million-plus expectations, the unrenovated five-bedroom house fetched $1.32 million through Richard Shalhoub of McGrath. It cost $1.18 million in 2003. Anasta then bought a $1.805 million <a target="_blank" href="/news">Clovelly</a> house through Raine &amp; Horne agent Graeme Anderson.
The couple are set to marry in October.
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Actress Jodi Gordon lists in Potts Point as marriage to Braith Anasta draws near: Title Tattle

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<img src="/images/stories/rozelle.jpg">
Dumped Wiggle Sam Moran is in the midst of upgrading Sydney abodes. Moran, the former yellow Wiggle, his wife, Lyn, and their daughter, Eloise, are moving into their newly acquired $955,000 Rozelle cottage in inner Sydney (pictured above).
It was bought last year at auction through Sarah Lorden Real Estate agent Lynsey Kemp and according to RP Data then briefly leased at $750 a week while the couple sought to sell their Pyrmont apartment (pictured below).
{yoogallery src=[images/stories/jan20pyrmont]}
Earlier this month the sale of the Moran's two-bedroom, two-bathroom Paramount, Pyrmont apartment was recorded at the land titles office at a healthy $682,500. It cost $500,000 in 2007. The apartment walls were full of show business memorabilia including Jersey Boys posters.
Moran has overseen the recent minor renovation of the three-bedroom Rozelle cottage on a 272-square-metre block, which has been freshly painted and new carpet installed. It has three bedrooms and one bathroom and was marketed as offering “tremendous scope to refresh or renovate” and “currently in very liveable condition” with some retained period features. A formal lounge with slow combustion fireplace was the home’s focal point.
It was reported the auction of the freestanding weatherboard cottage attracted young families and older executives given with its character charm and good position.
But the home, which had been in the one family for 30 years, was built in 1880 and only partially updated 15 years ago.
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Dumped yellow Wiggle Sam Moran upgrades in Sydney, with not much wiggle room: Title Tattle

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<img src="/images/stories/residences.jpg">
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">The chief executive of ANZ's Australian operations, Philip Chronican, now has a Sydney bolthole, having bought in the newly completed complex The Residence overlooking Hyde Park (pictured above).  The Melbourne-based banking executive and his wife, Leanne, spent $2.35 million for the College Street apartment. The couple left for Melbourne in 2009 after the 27-year Westpac veteran accepted the senior posting with the ANZ. They then sold their Raglan Street Mosman abode for $3.1 million in 2010 and bought for about $4.5 million in a boutique Armadale apartment block, Lutetia. It was Chronican who argued the case when the ANZ moved to sever the long-standing link between Reserve Bank decisions and movements in mortgage rates, saying ANZ interest rates would now be reviewed each month, independently of the central bank. But his latest acquisition has no registered mortgage, saving him the bother of seeking out the best of the bank rates.
<img src="/images/stories/tamarama3.jpg">
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">Emma Christen, the partner of Mark Fennessy, the television production entrepreneur, has spent $6.6 million to buy in Tamarama (pictured above). It’s the former home of Dan White, which was <a href="https://www.propertyobserver.com.au/residential/title-tattle-bill-gates-rents-on-sydney-harbour/2011092351664" target="_blank">passed in on a vendor bid of $6.5 million at its Ray White onsite auction in September</a>. Fennessy’s long career in TV production includes time at Crackerjack, FremantleMedia Australia and since 2010 at Shine Australia, where he’s overseen shows including MasterChef, Junior MasterChef and The Biggest Loser. Dan White, a great-grandson of the founder of the Ray White real estate empire, and his wife, Sam, wanted close to $7 million when through Ray White Double Bay agent Elliott Placks for the house, which was completed four years ago in gardens designed by landscaper William Dangar. The house has expansive north-easterly ocean views. The couple sold to upgrade to a $13.1 million Bellevue Hill estate – some 2,460 square metres with a tennis court. Dan White was spotted attending a short course at Harvard over the break.
<img src="/images/stories/johnst.jpg">
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">The art and antique dealers John and Lynette Cunnington are seeking again to sell their Woollahra residence (pictured above), with plans to spend more time in Paris. The John Street house is expected to fetch around $2.2?million at its forthcoming auction. The three-storey, three-bedroom house comes with sandstone fireplace and private courtyard. Fiona Marano at Ballard Property has the listing. It had been listed for August auction with $2.45 million hopes. The Cunningtons plan to live in the apartment they bought five years ago in the ninth arrondissement of Paris.
{yoogallery src=[images/stories/november14hawkins]}
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">Jennifer Hawkins has yet to sell her Coogee home (pictured above). The former Miss Universe turned television personality and swimwear designer put in a $2.5 million vendor bid when auction last December through McGrath agent Adrian Bo. It now sits listed with price hopes around $2.5 million.
{yoogallery src=[images/stories/jan19barnesy]}
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">There's always been bit of the working-class man in Jimmy Barnes. Not just in the gravelly voice, but also in the singer's taste for property. But Barnes, who formed his band Cold Chisel on the industrial outskirts of Adelaide, has decided to offload his twin Botany industrial warehouse investment spaces (pictured above). The two warehouses in the Sydney industrial precinct have residential conversion potential given their residential 2b zoning. They cost $2.3 million in 2009 when bought by Barnes and his wife, Jane. Steve Pappas at Firmstone Properties Rosebery has the listing with a $3 million hopes. The couple had engaged architects to start negotiations with the council for a multi-unit redevelopment. The 1,470-square-metre Daniel Street holding was envisaged as potentially suitable for private premises for their extended entourage given their own residence has been in the neighbourhood  since 2004 when they spent $1.6 million on a 490-square-metre holding that conveniently had a recording studio.
{yoogallery src=[images/stories/jan17nicole]}
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">The Cronin Island, Surfers Paradise mansion (pictured above) of Nicole Bricknell, the ex-wife of bankrupted Billabong founder Matthew Perrin, has been listed for January 28 auction. The seven-bedroom property with 10-car garaging will be auctioned following a 27-month absence of south-east Queensland houses fetching more than $10 million. Photographs show some 30 crates, mostly unopened, of Penfolds Grange in the wine cellar. The Southern Cross Drive house with a lift between its basement and rooftop has previously been valued at $15 million. Nicole Bricknell, who has reverted to her maiden name, the daughter of one of the country's top bookmakers, Laurie Bricknell, <a href="https://www.propertyobserver.com.au/residential/nicole-perrin-joyous-but-stacey-mcivor-distraught-in-cronin-island-home-dramas/2011092051617" target="_blank">won her battle last September against the Commonwealth Bank</a>, which was seeking to repossess her family home, which sits on a 2,218-square-metre block that cost $1.45 million in 1999. The Queensland Supreme Court found the former Billabong chief repeatedly forged the signature of his wife to secure a $13.5 million loan from the Commonwealth Bank. The ruling meant the Commonwealth Bank could not enforce its mortgage over the couple's Gold Coast riverfront mansion or enforce personal guarantees against Perrin's wife. The lawyers for Bricknell returned to the courtroom last month to seek to determine the amount of costs to be paid. After a trial spanning two weeks, Walter Sofronoff, QC applied for additional costs on the ground that the matter should never have gone to trial.
Kylie Downes, SC for the bank, said the bank had every right to test the veracity of the fraud allegations in court. “Nicole trusted me with all financial matters and I have destroyed that faith and trust,'' Matthew Perrin confessed in a private gesture to his family. “No one could comprehend what I have done to her – taken her husband, faith, trust, house, family and financial security to hell without her having any idea,” he wrote in a confession, handed for safe keeping to his then father-in-law, which made its way into the court documentation. Michael Willems of Ray White Prestige Gold Coast Surfers Paradise has the listing.
{yoogallery src=[images/stories/august16mcivor]}
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">Still no sale – and therefore price comparison – from elsewhere on Cronin Island, given the abode of former Equititrust executive Mark McIvor remains for sale following its September auction. It’s a two-storey riverfront home (pictured above) designed by Sydney-based architect Alex Popovon a 1,736-square-metre block with 50-metre frontage onto the Nerang River. McIvor built the house on the $1 million block, which he bought in 1994. It sits in landscaping by international garden designer Andrew Pfieffer. The island’s highest sale was $8 million in 2004, when an older-style house on 2,300 square metres was sold.
McIvor, who founded the Gold Coast's own merchant bank, Equititrust, in 1993, also owns two other houses on the island. They cost $3.6 million in 2002 and $1.7 million in 2003. There are just 33 houses on the island. Michael Kollosche, the Ray White Broadbeach agent, has the listing. Equititrust, which became known for using a Roman voussoir arch as its marketing logo to suggest structural stability, was among the many unlisted mortgage funds to take a battering following the 2008 financial crisis.
{yoogallery src=[images/stories/jan20urumbirra]}
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">Urimbirra, the imposing granite homestead (pictured above) on 40 hectares in the Tilba Valley, has been sold. It fetched $2.3 million plus for its vendor, Carol Ladd, through Julie Rutherford at Julie Ruitherford Real Estate Bermagui. Urimbirra comes with 10-metre-high beam ceilings and features forged ironwork, antique timbers and handmade terracotta tiles. Its living areas open to the courtyard swimming pool. It was designed to be run as an exclusive six-bedroom B and B guest house, previously known as the Valley Country House when operated by then tourism industry operatives Lynton Manley and Catherine McDonough, who in the early 1990s employed French stonemasons to use the property's granite boulders to build the 900-square-metre home. The buyers from Orange, NSW plan to use it as a private home.
<img src="/images/stories/gingersmart.jpg">
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">More than $820,000 is being sought by the Ginger and Smart fashion label co-founder Genevieve Smart’s Avalon house (pictured above and below). Smart and her partner, Aidan Sarsfield, a producer of animated films with Animal Logic studio, had initially hopes for $850,000 for the modest home, which was gutted after it cost $590,000 in 2003.
<img src="/images/stories/gingersmart2.jpg">
Set on 650 square metres in gardens with tall palms, the Lewis Street house with black floorboards and Asian-style sliding door to the deck has been photographed for Vogue and Marie Claire magazines. It’s listed with LJ Hooker Avalon agent Nina Sokolov, given the couple are looking for a bigger house in the northern beaches.
{yoogallery src=[images/stories/jan18mainbeach]}
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">Melbourne construction industry company director and horse racing enthusiast Peter Devitt has snapped up a heavily discounted Gold Coast penthouse (pictured above). It was bought late last year from Jennifer Reardon, the wife of cotton and macadamia farmer Rob Reardon, who accepted $9.2 million for the five-bedroom Liberty Panorama penthouse at Main Beach. It was initially listed in 2007 with $16.5 million hopes, then $15 million in 2008 and $14 million in 2009. Built over two levels with a private lift, it sits atop the Gold Coast's first elliptical-shaped high-rise, completed in 2001. Coming with 1,200 square metres of space, it was bought off the plan from Mirvac for $3.29 million in 2000. The shared facilities include lagoon-style pool, tennis court and indoor lap pool. The complex is only a short distance from the restaurant and boutique shopping precinct. It had been listed through Livin In Prestige Properties agent Sharon Lloyd. The last time Devitt, the LU Simon Builders managing director and former president of the Master Builders Association of Victoria, was in the news was in 2010 when he snapped up the penthouse at The Melburnian on St Kilda Road for about $15.5 million.
<img src="/images/stories/foamst.jpg">
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">Former Richmond AFL footballer Nathan Brown is prepared to cop a small knock on his Elwood property (pictured above). Not surprising, really, since The Sunday Footy Show panellist only bought it at November 2010 auction. Costing $1.85 million, the three-bedroom, three-bathroom house now comes with a $1.79 million asking price through Hocking Stuart agent David Sullivan.
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">Title Tattle aims to tell you as soon as we know – often before it happens – so the word is that Mary Wong-Jenkins sold her triplex Darling Point penthouse this week, which had been listed last July. She’d been hoping for $2.65 million through 1st City Hasemer and Caldwell Eyles Double Bay in conjunction with Richardson &amp; Wrench Elizabeth Bay. It was bought in 2008 for $2.35 million by the longtime managing director of the Kyko Group, best known for its multimillion-dollar refurbishment of the Art Deco City Mutual building in the Sydney CDB and the Wondakiah redevelopment of the AGL site at Wollstonecraft Bay.
<img src="/images/stories/rozelle.jpg">
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">And don't say that Title Tattle told you, but the dumped Wiggle Sam Moran is in the midst of upgrading Sydney abodes.  Moran, the yellow Wiggle, his wife, Lyn, and their daughter, Eloise, are moving into the newly acquired $955,000 Rozelle cottage in inner Sydney (pictured above). It was bought last year at auction through Sarah Lorden Real Estate agent Lynsey Kemp and according to RP Data then briefly leased at $750 a week while the couple sought to sell their Pyrmont apartment.
Earlier this month the Morans sold the two-bedroom, two-bathroom Paragon, Pyrmont apartment for a healthy $682,500. It cost $500,000 in 2007. The apartment walls were full of show business memorabilia including Jersey Boys posters. Moran has overseen the recent renovation of the three-bedroom Rozelle cottage, which has been freshly painted and new carpet installed. It was marketed as offering “tremendous scope to refresh or renovate” and “currently in very liveable condition” with some retained period features. A formal lounge with slow combustion fireplace was the home’s focal point.
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No mortgage for ANZ chief Philip Chronican's pricey Sydney bolthole: Title Tattle

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There's always been bit of the working-class man in Jimmy Barnes. Not just in the gravelly voice, but also in the singer's taste for property.
But Barnes, who formed his band Cold Chisel on the industrial outskirts of Adelaide, has decided to offload his twin Botany industrial warehouse investment spaces.
The two warehouses in the Sydney industrial precinct have residential conversion potential given their residential 2b zoning.
They cost $2.3 million in 2009 when bought by Barnes and his wife, Jane.
Steve Pappas at Firmstone Properties Rosebery has the listing with a $3 million hopes.
The couple had engaged architects to start negotiations with the council for a multi-unit redevelopment.
The 1,470-square-metre Daniel Street holding was envisaged as potentially suitable for private premises for their extended entourage given their own residence has been in the neighbourhood  since 2004 when they spent $1.6 million on a 490-square-metre holding that conveniently had a recording studio.
Recording studios aren't always included, but warehouses traditionally offer flexible floor plans, vaulted ceilings, timber trusses and high walls that encourage the imagination to soar.
They also offer open-plan living spaces that are usually alive with tactile and textured energy – blank spaces aplenty for contemporary artworks to be displayed with an ease not familiar to older homes.
And warehouses can be special internally without regard to their dull street presence.
As inner-city land values rose in the late 1970s and companies were tempted to move further out, the warehouse fad took off.
Celebrity manager Harry M. Miller was a pioneer of the trend. He made his home in Woolloomooloo after paying $122,000 for a 512-square-metre inner-city block.
Miller's three-storey warehouse was described by the international architecture photographer Tim Street-Porter as a contemporary palazzo with French-walled garden set into the busy urban landscape. It included an internal glass lift that whisked visitors from the foyer.
Miller left the warehouse with polo practice pit after 20 years, selling to the Melbourne recording supremo Michael Gudinski in 1999.
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Jimmy Barnes lists his Botany industrial investment: Title Tattle 

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Anton Kardash has been appointed the new chief of the Real Estate Institute of Queensland.
He was most recently at the helm of Aged Care Queensland and has a long history of working in the not-for-profit sector.
“I am looking forward to the challenges that the current market conditions have brought to everyone working within the real estate profession,” he says.
The institute’s website, <a href="https://www.reiq.com/" target="_blank">reiq.com</a>, has 68,000 property listings for sale.

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Anton Kardash new chief executive of the Real Estate Institute of Queensland

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Dixon Advisory’s US Masters Residential Property Fund added a further 18 Jersey City properties to its portfolio in December, it revealed in its latest update to the National Stock Exchange (NSX), where it is listed.
The fund now has 93 properties on its books with a combined value of $18.6 million. The properties have yields of between 8% and 13.7%
The fund also received conditional acceptances for five more properties, with an estimated combined acquisition cost of US$900,000, increasing the value of conditional acceptances to $18.6 million.
The December purchases range in price from US$139,000 for a two-family attached property featuring one three-bedroom apartment and one two-bedroom apartment with an estimated annual yield of 10.5% to US$359,000 paid for a three-family attached property featuring one four-bedroom apartment and two three-bedroom apartments with an estimated annual yield of 8%.
The fund raised an <a href="https://www.propertyobserver.com.au/overseas/investors-dry-up-as-dixon-advisory-raises-%2431-million-for-us-property-fund-in-third-capital-raising/2012011353033" target="_blank">extra $31 million from investors</a> in the second of a three-stage capital raising, which concluded this month, taking total capital raised to more than $100 million.
Shares in the fund are currently trading at $1.67 on the NSX, having listed at $1.61 at the end of June 2011.
 
 
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lschlesinger-FZcF9M3vE6

Dixon Advisory's US portfolio grows to 93 properties

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Melbourne construction industry company director and horse racing enthusiast Peter Devitt has snapped up a heavily discounted Gold Coast penthouse.
It was bought late last year from Jennifer Reardon, the wife of cotton and macadamia farmer Rob Reardon, who accepted $9.2 million for the five-bedroom Liberty Panorama penthouse at Main Beach.
It was initially listed in 2007 with $16.5 million hopes, then $15 million in 2008 and $14 million in 2009.
Built over two levels with a private lift, it sits atop the Gold Coast's first elliptical-shaped high-rise, completed in 2001.
Coming with 1,200 square metres of space, it was bought off the plan from Mirvac for $3.29 million in 2000.
The shared facilities include lagoon-style pool, tennis court and indoor lap pool.
The complex is only a short distance from the restaurant and boutique shopping precinct. It had been listed through Livin In Prestige Properties agent Sharon Lloyd.
The last time Devitt, the LU Simon Builders managing director and former president of the Master Builders Association of Victoria, was in the news was in 2010 when he snapped up the penthouse at The Melburnian on St Kilda Road for about $15.5 million.
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Peter Devitt snaps up heavily discounted $9.2 million Main Beach Gold Coast penthouse: Title Tattle

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The Manly municipality recorded strong growth in land values over the past three years.
There was an $11.719 billion total land value across the Manly local government area as at July 2011.
This was 10% higher than the $10.631 billion total determined as at July 2008, according to NSW Valuer-General Philip Western.
There was a 3.2% change in the last year, with the median residential value up from $885,000 to $913,000.
The new values for the 9,752 properties were derived from analysis of 184 residential, 13 commercial and four industrial sales over the last year.
Over the three-year period residential land has shown a moderate increase.
“The value of commercial land has shown a slight increase, while industrial land values have remained steady,” Western says.
Business land median values rose 2% from $750,000 to $771,000 in the 2010 to 2011 valuation year.
The median industrial holding rose 2% in the past year from $1.02 million to $1.04 million. 
Typical residential land values were:
<ul>
<li>727 square metres at Castle Circuit, Seaforth valued at $1,100,000 </li>
<li>594 square metres at Curban Street, Balgowlah Heights valued at $958,000 </li>
<li>586 square metres at Grandview Grove, Seaforth valued at $935,000 </li>
<li>736 square metres at Jenner Street, Seaforth valued at $1,100,000 </li>
<li>550 square metres at Judith Street, Seaforth valued at $680,000 </li>
<li>1,271 square metres at Seaforth Crescent, Seaforth valued at $1,370,000 </li>
<li>627 square metres at Upper Beach Street, Balgowlah valued at $890,000 </li>
<li>542 square metres at Wanganella Street, Balgowlah valued at $710,000</li>
</ul>
Typical commercial land values were:
<ul>
<li>178 square metres at North Steyne , Manly valued at $1,130,000 </li>
<li>101 square metres at Pittwater Road, Manly valued at $450,000                     </li>
<li>196 square metres at Sydney Road, Fairlight valued at $347,000 </li>
<li>368 square metres at Sydney Road, Balgowlah valued at $661,000 </li>
<li>209 square metres at Sydney Road, Manly valued at $1,040,000 </li>
<li>220 square metres at The Corso, Manly valued at $2,100,000 </li>
</ul>
Typical industrial land value was:
<ul>
<li>974 square metres at Condamine Street, Balgowlah valued at $1,040,000</li>
</ul>
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Manly land values up 10% in three years

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The Cronin Island, Surfers Paradise mansion of Nicole Bricknell, the ex-wife of bankrupted Billabong founder Matthew Perrin, has been listed for January 28 auction.
The seven-bedroom property with 10-car garaging will be auctioned following a 27-month absence of south-east Queensland houses fetching more than $10 million.
The marketing decision to put it to auction appears to have been made during the Christmas period, as the vast living room has been photographed with Christmas decorations.
Other photographs show some 30 crates, mostly unopened, of Penfolds Grange in the wine cellar.
The Southern Cross Drive house with a lift between its basement and rooftop has previously been valued at $15 million.
Nicole Bricknell, who has reverted to her maiden name, the daughter of one of the country's top bookmakers, Laurie Bricknell, <a href="https://www.propertyobserver.com.au/residential/nicole-perrin-joyous-but-stacey-mcivor-distraught-in-cronin-island-home-dramas/2011092051617" target="_blank">won her battle last September against the Commonwealth Bank</a>, which was seeking to repossess her family home, which sits on a 2,218-square-metre block that cost $1.45 million in 1999.
The Queensland Supreme Court found the former Billabong chief repeatedly forged the signature of his wife to secure a $13.5 million loan from the Commonwealth Bank.
The ruling meant the Commonwealth Bank could not enforce its mortgage over the couple's Gold Coast riverfront mansion or enforce personal guarantees against Perrin's wife.
The lawyers for Bricknell returned to the courtroom last month to seek to determine the amount of costs to be paid.
After a trial spanning two weeks, Walter Sofronoff, QC applied for additional costs on the ground that the matter should never have gone to trial.
Kylie Downes, SC for the bank, said the bank had every right to test the veracity of the fraud allegations in court.
“Nicole trusted me with all financial matters and I have destroyed that faith and trust,'' Matthew Perrin confessed in a private gesture to his family.
“No one could comprehend what I have done to her – taken her husband, faith, trust, house, family and financial security to hell without her having any idea,” he wrote in a confession, handed for safe keeping to his then father-in-law, which made its way into the court documentation.
Michael Willems of Ray White Prestige Gold Coast Surfers Paradise has the listing. January is the key auction month on the Gold Coast, with millions of dollars’ worth of property to be sold at seven mega auctions over a four-week period.
The biggest is Ray White Surfers Paradise Group's annual two-day showcase The Event, to be held January 28-29.
It has 130-plus prestige, marine and commercial properties.
Ray White chief executive Andrew Bell says he expects strong buyer activity on the back of the two interest rate cuts at the end of last year and the 2018 Commonwealth Games announcement.
Bell says some sellers have waited six months or more to sell their properties, at his auction and he is hopeful of a good clearance rate.
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