<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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As we look back on 2011, Property Observer is republishing some of our most noteworthy stories of the year.
Alan Dixon, fund manager of Dixon Advisory’s US Masters Residential Fund, has defended the fund’s decision to buy 55 rental properties in Jersey City in Hudson County across the river from Manhattan, following a stinging attack from property market commentator Monique Sasson Wakelin. 
Wakelin called the fund’s choice of properties “speculative” and said they offered limited opportunities for capital growth. 
But Dixon says the investments represent a “huge opportunity” for Australian investors. 
“Our properties have average a purchase price just below US$200,000 compared to peak prices of approximately US$500,000 and an average construction value of $280,000. We are buying below construction replacement cost and getting the land value for free. “We are getting net property yields of 8% to 12% and we are confident of capital growth over the medium term. Our firm’s view is that the Australian dollar is also moderately overvalued, so we expect some gains there as well,” he says. 
Dixon disagrees with Wakelin’s suggestion that the fund should buy in Manhattan instead due to her concern that only 30% of Jersey City locals are home owners and thus there is little chance of gentrification of the area. 
He says tenancy rules and rent controls in Manhattan mean that many renters pay more than $1,000 a month below market rents and cannot be evicted by the owner. 
“We comprehensively reviewed Manhattan and simply don’t agree with her. “Hudson County has no rent control on properties with less than four families and eviction can be achieved in six weeks upon any non-payment of rent. In Manhattan (or Australia, for that matter) it can take four to six months.” 
He also defends the choice of fund’s choice of investment property, multi-family properties, and says they compare favourably with Australian duplexes or semi-detached properties. 
“Most properties are two, three or four families and have always been. They are just like duplexes or semi-detached properties in Australia, but in a local quirk they always stay on one title. They do not have design flaws, and the local residents consider it a normal way to live. 
He says Wakelin’s attack on the fund for buying an asset when it is low and depressed actually fills him with confidence because it’s effectively buying a “quality stock on a low price-to-earnings ratio” rather than not buy because others are not.  “When it comes to valuation I’ll stick with Warren Buffett, Benjamin Graham and all great investors and I’ll be buying where there is deep value available and capitulation in the market prices.” 
Dixon has put his money where his mouth is and alongside his father Daryl Dixon (a director of the fund) has increased his own investment in the fund in the latest capital raising. 
He says “smart investors will be looking to have 4% to 12% of their SMSF portfolio in an excellent opportunity such as this”.
Aside from backing the location and choice of properties, Dixon also highlights the depth of research undertaken and US property knowledge base of the management team. 
‘[We] stared our process some 18 months ago now with a team including myself, our head of funds management, Alex MacLachlan, and our head of strategy, Chris Brown. 
“Alex grew up in New Jersey, he is a graduate of Cornell University and has an MBA from the Wharton School at the University of Pennsylvania. 
“Chris Brown is a dual US/Australian citizen and immediately prior to joining Dixon Advisory in 2008 was an executive director of UBS AG based in New York, where he had been living and working for the previous four years. As such we had very strong connections to allow us to research this opportunity properly,” Dixon writes in <a href="https://www.eurekareport.com.au/">The Eureka Report.</a> 
In addition, the fund has this week strengthened its advisory board with the appointment of Stuart Nisbett as independent director of the fund’s advisory board. 
Nisbett runs Archerfield Capital Partners, which specialises in equity raising, debt restructuring and mergers and acquisitions as well as strategic and project advice, with a focus on real estate” and formerly ran the property funds management arm of ANZ Investment Bank.
Referring to Wakelin’s October visit to Jersey City, Dixon says the fund didn’t take a day off on its holidays to buy properties – “we spent months and months researching and talking to the US’s leading economists, property professionals, money managers and investment bankers to make our decision.  Dixon takes particurlar issue with Wakelin’s claim that Hudson County (where Jersey City is based) is unlikely to gentrify due a predominance of renters over buyers (70% to 30%)
“There has been a complete renovation and gentrification of Hoboken (about 8 kilometres north east of Jersey City) to make it one of the most desirable areas in the New York Metropolitan region.
“In the words of Wikipedia, 'the character of the city has changed from a blue-collar town to one of upscale shops and condominiums'."
Dixon list a number of other developments, which he says are “signs of strong gentrification and investment in the area” including the completion of Newport, Jersey City, a 600-acre master planned mixed use community with retail, residential, office and entertainment facilities.
“More than $10 billion has been invested since the project commenced in the 1980s,” he says.
Other developments include Goldman Sachs completing the tallest building in New Jersey, a 42-storey modern office building in Exchange Place in 2004, “part of what is sometimes referred to as “Wall Street West” due to the large concentration of financial firms based there.
Dixon also rubbishes Wakelin’s claim that the journey on the Path light railway from Jersey City to Manhattan is “no 15 minute commute” and can be unreliable.
“She is wrong. From Journal Square, where the fund owns a large number of properties, to the World Trade Centre is an 11-minute PATH train ride. It is on time, clean, air-conditioned and runs every four to five minutes in peak hour. It is rarely late,” says Dixon.
He says his office also has had a “chuckle” at Wakelin’s suggestion that properties the fund purchased should not be marketed as “New York metropolitan properties”.
“A quick visit to Wikipedia would have helped her reveal that ‘New York metropolitan’, ‘tri-state and ‘greater New York’ are completely interchangeable terms and all mean the same thing. Perhaps she should spend a little more time researching her subject. Indeed, Hudson County is the closest county or borough to Manhattan of all 30 counties in the area.”
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lschlesinger-FZcF9M3vE6

Our US investments are sound and well researched: Alan Dixon  

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As we look back on 2011, Property Observer is republishing some of our most noteworthy stories of the year.
 
The now fire-damaged house at 42 Bartholdi Avenue, Jersey City, New Jersey sold for $114,000 in August this year to the Australian-listed US Masters Residential Property Fund headed by Alan Dixon.
<img src="/images/stories/bartholdi.jpg">
The colonial-style property (pictured above) had sold at $49,569 just three months earlier in a repossession sale.
“We’re comfortable that at $114,000 there was plenty of upside in it for us,” Alan Dixon told Property Observer after an analysis of the fund’s most recent acquisitions found 19 of the 34 identified in the fund’s prospectus were bought for a price substantially higher than the last, but recent, sale price.
“In simple terms, property that is being bought for $114,000 has around $250,000 to $280,000 worth of construction value within five kilometres of Manhattan,” Dixon suggests.
“The $49,569 price in a repossession was excellent buying for the party who vended the property to us,” Dixon concedes.
“But in addition to $49,569 they will likely have paid a variety of liens against the property of things such as municipal liens (water/sewerage, local tax), possibly federal tax, bank fees or so forth.”
"For every single property we buy, we do a very detailed inspection and analysis of properties in the area, including looking at comparable sales for equivalent properties in the area.  I’m very comfortable we are not paying above market, in some cases we’ve got incredible deals, in many cases we’ve simply met the appropriate market price," Dixon says.
Dixon acknowledges whatever the vendors spent they achieved “a good profit on the sale to us”.
"Many of the properties we have bought were recently owned by another party," he says. "There are two types of property that fit that category, ones with a small differential and ones with a large differential between the two prices.
"With a relatively small differential it reflects someone picking up a property at a depressed price, perhaps through a short sale or some other complex process where it didn’t enter the regular market and when the property is offered to us there is still enough differential between the price offered and the market price that we are comfortable to proceed," Dixon says.
"The fact that another party got involved and made a small profit doesn’t concern us if we are still buying at or below the market price and the price meets our return hurdles. Given we now have closed on approximately 80 properties and have over 100 tenants we are able to forecast / estimate returns very accurately given our in house market knowledge and data. In addition to assessing the property at a market level, we also place great emphasis on the property meeting our conservative financial hurdles, which ultimately is of significant importance to our investors."
The US Masters Residential Property Fund, managed by Dixon Advisory is in New Jersey to buy high-yielding property, but perhaps ominously in some questionable neighbourhoods, as less than four weeks after the Bartholdi Avenue purchase a two-alarm fire broke out at the house. The freelance news photographer Joe Shine was on the scene as <a target="_blank" href="https://www.nj.com/hudson/index.ssf/2011/09/photos_fire_breaks_out_on_bart">firefighters raced to fight the blaze shortly after midnight</a>. No one was hurt and the fire is still under investigation.
The insurer, Lloyds of London, has since paid a $200,000 settlement, and Dixon is comfortable the money will allow the fund to end up with a rental property that is completely renovated.
"The other situation is where there is a big differential between the two prices because they’ve had to do very substantial work to make the properties saleable and leaseable.  We’ve consciously done this because it has often lead to result in a finished, completely renovated property at or below the market price.  Whilst the renovator/developer will have made a profit, it will not come without the substantial risk of doing major renovations and building work," Dixon says.
"The concept that we should be the ‘first buyer’ of all these properties would basically turn the fund in to a construction company.  Yes, we are prepared to do work internally that is of the right size and costing to add value.  We have already completed 24 construction jobs and have another 15 in progress.  All these jobs have been up to $20,000 in value.  Whilst we have the skills internally, we have decided at this stage not to do major rehabs preferring to take them off developers.  However, we continue to assess each property on a case-by-case basis and from time to time will do some bigger jobs, however, we will not be making this our primary business."
Property investment commentator <a href="https://www.propertyobserver.com.au/overseas/aussie-fund-s-new-jersey-us-properties-cheap-and-nasty-monique-sasson-wakelin/2011121352822" target="_blank">Monique Sasson Wakelin has slammed the acquired rental properties after a recent trip</a>.
Without any reference to the sales history, she advises the purchases demonstrate a “worrying lack of understanding of what constitutes investment-grade property”, and “ongoing zeal for financial engineering and lack of property knowledge”.
She says many “unsuspecting Australian retail investors” have bought “some very speculative assets”.
“By going for high yield and low prices, the fund has chosen poor assets in highly compromised locations with no scarcity value,” she says in an article for <a target="_blank" href="https://www.eurekareport.com.au/">The Eureka Report</a>.
Dixon has responded saying in part: “We didn’t take a day off on our holidays – we spent months and months researching and talking to the US’s leading economists, property professionals, money managers and investment bankers to make our decision.” 
But the Property Observer analysis suggests the now-fire damaged Bartholdi Avenue property  was not the most dramatic price difference on last sale by the fund over recent months.
A single-family house at 89 Bostwick Avenue, Jersey City, NJ sold to the fund at $235,000 in September. The property previously sold for $62,000 in May.
There are 19 acquisitions among the 34 identified in the US Masters fund prospective where the latest purchase price sits substantially above the last sale price. All up the fund, which expects annualised net yields between 8% and 12%, <a target="_blank" href="https://www.propertyobserver.com.au/overseas/dixon-advisory-attracts-815-more-aussies-to-take-a-punt-on-us-housing-investment/2011112952603">has bought 127 properties for a $24.5 million total as at October 31 this year.</a>
“We know the history on all of them and are very confident of our buying process,” Dixon says.
“I'd be able to show you scopes of work etc on all properties that more than cover the difference,” he says.
 
<hr class="system-pagebreak">
 
Dixon cites a single-family house at 73 Warner Avenue, Jersey City, NJ bought for $185,000 recently.
US land title records reveal Dixon’s spent $65,000 more than the property’s previous $120,000 sale in June this year.
“73 Warner Ave is one of the properties where we did a complete turn-key renovation deal with the vendor,” Dixon says.
“The property was in need of a major rehab when the vendor purchased it and they purchased looking for someone like us to take them out of a property that is fully renovated and ready to rent.
“Typically they make a decent development profit, but we’ll get the property in better condition but a little cheaper than the going market rate.”
He says on 73 Warner, the fund replaced one of the boilers; reinstalled and restored the hallway on the first floor; repaired and renovated the kitchen on the first floor; installed a built-in wardrobe and sheet rock for an extra bedroom on the first floor; installed a built-in wardrobe and sheet rock for an extra bedroom on the second floor; completely gutted and replaced a kitchen on the second floor; and fully carpet the entire house.
“On properties that have needed (substantial) work, we have determined what we think fair value would be with a full renovation and negotiated a turn-key as complete price,” he says.
“We have only done this with vendors with a good reputation in the marketplace for doing quality work and we inspect thoroughly before we finalise the purchase.”
Dixon points to two examples of properties that he says will reap high rewards:
<ul>
<li>  
<ul>
<li>Property number 1: 89 Bostwick Avenue, Jersey City.  This property is located in the Greenville section of Jersey City.  As you note it was sold for $62,000 in May 2011.  It is on a large block for the area and consists of four separate apartments all on the one title.  There is one  three-bedroom apartments and three two-bedroom apartments.  I.e., the property has nine bedrooms and four bathrooms.  Our estimate is that actual construction costs with no margin for development profit or risk would total around $120,000.  The property was offered to us both in its wrecked state or to agree on a fully renovated basis.  We chose to elect to purchase the property fully renovated for $235,000.  We got completely new kitchens, bathrooms, carpeting, heating, roofs, internals and so forth for four apartments for a total of $173,000.  I.e., about30 rooms fully renovated for $173,000.  I was there on the day we closed on the property and it was a very high-quality job inside.  We think it was a very good deal.  We will get net yields out of the property (before fund management fees) of over 12.5% per annum.</li>
</ul>
</li>
</ul>
<ul>
<li>  
<ul>
<li>Property number 2:  2A Dwight Street, Jersey City.  This is also located in the Greenville section of Jersey City and is one of only two single-family properties we have.  Again, this property at $30,000 was an unliveable wreck.  To give you some valuation indications, we now receive rent of $1,600 a month for the property or $19,200 a year.  Properties trading at $30,000 are unliveable in our target area. This was bought by a developer and we were not shown it when the first transaction occurred as it was prior to the commencement of the fund in May.  As such, we cannot estimate how much the developer will have spent on repairs, but it will have been substantial.  When we first inspected the property on 20 July 2011, the renovation was already about 90% complete but consisted of new bathrooms, new kitchens, full painting, new carpets and so forth.  A brick residence and single family it was quite unique on the rental market and leased within a week at $1,600 a month.  We think that $85,000 differential for a completed fully renovated house is a very good deal for the fund, as comparable transactions would suggest the property is worth $125,000 plus.  Yes, the developer will have made a profit on the deal but not so substantial that it is not a very good buy at the price.  We are getting net yields of around 10% from this property.</li>
</ul>
</li>
</ul>
 
Dixon says tenants pay a high premium for renovated properties in the area.
“Interestingly, because the property market has been falling for five years and is so depressed, a lot of owners are not keeping their rental properties up to the sort of standard you would normally expect.
“As such, when a renovated property becomes available on the rental market, it is very popular and you can get really high-quality tenants,” Dixon suggests.
Other properties in the fund’s portfolio include:
<ul>
<li>A $242,000 purchase at 198 Bergen Avenue Jersey City, NJ in August had previously traded hands for $67,000 in April.</li>
<li>A house at 278 Winfield Avenue, Jersey City, NJ was sold for $235,000 in September. It had previously sold for $173,000 in June 2011.</li>
<li>A single-family home at 16 Weldon Street, Jersey City, NJ was bought for $199,000 in October. The 1900 property previously sold for $85,000 in September.</li>
<li> A single-family house at 17 Bergen Avenue, Jersey City, NJ sold for $155,000 in October. The property previously sold for $80,000 in September.</li>
<li> A single-family house at 268 Bergen Avenue, Jersey City, NJ sold for $184,900 in October. The property previously sold for $75,000 in October 2010.</li>
<li> A single-family home at 73 Warner Avenue, Jersey City, NJ sold for $185,000 in September. The property previously sold for $120,000 in June.</li>
<li>A house at 136A Clendenny Avenue, Jersey City, NJ sold for $225,000 in September. The 1900 property previously sold for $180,000 in July last year and at $125,000 in January 2010.</li>
<li>A single-family home at 111 Winfield Avenue, Jersey City, NJ sold for $162,000 in September. The property previously sold for $110,000 in March 2009.</li>
<li>A property at 112.5 Orient Avenue, Jersey City NJ sold for $112,000 in September. The property previously sold for $100,000 in 2008 having sold at $255,000 in 2006.</li>
<li>A single-family home at 202 Delaware Avenue, Jersey City, NJ sold for $125,000 in September. The property previously sold for $75,000 in August.</li>
<li>A home located at 66 Gardner Avenue, Jersey City, NJ sold for $235,000 in August. The property previously sold for $175,000 in 2008.</li>
<li>A single-family home located at 146 Stevens Avenue, Jersey City, NJ cost $189,000 in August. The property previously sold for $100,000 in December 2010.</li>
<li>A home located at 120 Orient Avenue, Jersey City, NJ sold for $175,000 in July this year. The property previously sold for $50,400 in October last year.</li>
<li>A home at 69 Belmont Avenue, Jersey City, NJ sold for $205,000. It last sold in 2008 at $145,000.</li>
</ul>
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jchancellor-FAypfDUnLy

Dixon Advisory fund pays more than double recent sales prices for some high-yielding US property after quick refurb

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Academy Award-winning actress Renee Zellweger has listed her four-bedroom, three-bathroom property in the Connecticut town of Pomfret with price hopes of US$1.5 million.
Zellweger bought the 16-hectare property, which she used as a holiday house, in November 2004 for $1.32 million and has renovated an updated it. In addition to the main house the property includes a separate guest quarters and a barn, now used as an entertainment area. 
It is being marketed by <a target="_blank" href="https://www.coldwellbankermoves.com/property/details/2796922/MLS-M9131773/Pomfret-CT-06259.aspx">Coldwell Banker</a> agent Jonathan Radford.
In the property's marketing, Zellweger enthuses about the town of Pomfret.
"Socially, architecturally and aesthetically, Pomfret is the embodiment of the old-fashioned American small town while it is simultaneously a culturally rich and sophisticated community," she says.
"The seasons and landscapes are breathtaking, the quality of life and festive celebrations are of bygone days, and you'll make more friends in Pomfret within weeks than you would during a lifetime in most other places." 
Zellweger, whose breakout role was in the Tom Cruise vehicle Jerry Maguire, won an Oscar in 2003 for her performance in Cold Mountain. She also reportedly owns a house in the Hollywood Hills.
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cknowlton-QnEa6ntUYP

Renee Zellweger lists in Connecticut

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As we look back on 2011, Property Observer is republishing some of our most noteworthy stories of the year.
 
Property investment commentator Monique Sasson Wakelin has slammed the New Jersey rental properties being acquired by the Australian-listed US Masters Residential Property Fund managed by Dixon Advisory. 
Sasson says Australian investors are mistaken if they believe the marketing literature that highlights low prices (about US$170,000) and “attractive” rental yields (up to 12%)<a href="https://www.propertyobserver.com.au/overseas/dixon-advisory-pays-more-than-double-recent-sales-prices-for-some-high-yielding-us-property-after-quick-refurb/2011121352826" target="_blank"> of the properties it has acquired in Hudson County, New Jersey, across the river from Manhattan. </a>
She says investments made by the fund demonstrate a “worrying lack of understanding of what constitutes investment-grade property”, and “ongoing zeal for financial engineering and lack of property knowledge”. 
As a consequence, she says many “unsuspecting Australian retail investors” have bought “some very speculative assets”. “By going for high yield and low prices, the fund has chosen poor assets in highly compromised locations with no scarcity value,” she says in an article for <a href="https://www.eurekareport.com.au/">The Eureka Report</a>. 
“Consequently, the prospects for sustained capital growth are severely limited and there is the high possibility of further capital loss because the recovery and bounce back will be slow compared to other parts of New York City.” 
“These properties are cheap because no one else wants to buy them and cheap does not equal a good investment. Why invest in something that the vast majority of the local population eschews?” 
<img src="/images/stories/moniqueus2.jpg">
Her heavy criticism of the fund comes after its recent <a href="https://www.propertyobserver.com.au/overseas/dixon-advisory-attracts-815-more-aussies-to-take-a-punt-on-us-housing-investment/2011112952603">successful second round capital raising campaign</a>, which added a further $26.9 million to the $70 million invested ahead of its listing on the small cap National Stock Exchange at the end of June. 
A second opportunity to acquire shares in the fund closed yesterday, with a third offer closing on January 9. 
The fund has to date snapped up 55 properties for $11.18 million and exchanged contracts on a further 106 (worth an additional $20 million) with annualised net yields generally ranging from 8.0% to 12%.
Wakelin says there is clearly merit in buying at the bottom of the US residential property cycle in areas such as Manhattan, the inner suburbs of Boston or San Francisco, but not in Jersey City.
Having visited New York several times and recently back from her annual October trip, Wakelin says she was “deeply alarmed” to discover the fund had chosen to focus its buying in Hudson County, New Jersey “an area not exactly well known for prime real estate”. 
She also criticises the marketing of the properties as “New York metropolitan”, which she says in not accurate when the properties are in New Jersey. 
“Americans refer to the ‘tri-state,’ the contiguous parts of New Jersey, Connecticut and New York that are commuting distance from Manhattan. 
“Commuting distance, yes, but not within the New York metro area. As for the short commute, try driving it or being stuck on the subway during rush hour, especially if something goes wrong. It’s no 15-minute commute!” 
She says a visit to the area in mid-October confirmed her fears about “the dangers of this offer”. 
“Hudson County is doing it tough. There is little sense of resilience or prosperity and vacant houses are common.
“But this shouldn’t be a surprise to anyone as, according the US Bureau of Statistics, in April 2011 unemployment in Hudson County was 10.3%, compared to 8.7% nationally. This place is in a recession.” “Worse, it is not merely a case that Hudson County is just going through a bad patch and that its long-term prospects are rosy.” 
Wakelin says the “tightly cropped photographs” in the Dixons product disclosure statement do not show the streets of Hudson County, which “contain highly variable, non-descript, and often unattractive architecture”. 
“Any potential investor is well advised to use Google Maps to see the broader vista around these properties!” 
She also the prospect of Hudson County being gentrified in the coming years is very low because just 30% of residents are home owners. “Gentrification occurs when there is a critical mass of incoming first-home buyers or upgraders, who identify strong future potential because a locale is underpinned by an intense and diverse array of services and infrastructure. They renovate the properties and their discretionary disposable incomes draw in boutique shops and restaurants. “This can turn a suburb from down-at-heel to trendy in a few years and drive strong capital growth in the immediate future. 
“Instead Hudson County is an area of cheap, unattractive properties in a high unemployment context with a transient population of tenants and little in the way of amenity. Unfortunately, the fund confuses ‘cheap and nasty’ with ‘opportunity’. 
And she says the fund has contradicted its mission to invest in “properties which have the potential to achieve superior risk-adjusted income and long-term capital appreciation by investing in an area which the fund itself acknowledges suffers from “underlying oversupply, foreclosures, short sales and distressed sales”.
“A parcel of apartments in parts of Manhattan – say Tribeca or Murray Hill – would be far better at fulfilling the fund’s investment mission.”
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Aussie fund's New Jersey US properties 'cheap and nasty': Monique Sasson Wakelin

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The penthouse on top of the Ritz at Cremorne Point has been sold.
Its price has not been disclosed, but a $7 million offer was recently rejected, with those buyers instead securing a $5.5 million house nearby.
It sold through LJ Hooker Mosman agents Geoff Smith and Richard Harding.
The Milson Road penthouse, with four bedrooms and six bathrooms, spreads over 400 square metres.
It includes a rooftop terrace and garden with space to entertain 300 guests.
The property was purchased by a local retired couple who will undertake internal renovations and redecorating before taking up residence.
The penthouse has been two apartments joined together, while retaining two kitchens.
The new owners intend to reconfigure the space so it becomes one purpose-built penthouse reflecting their own taste and style.
The building’s recreation area is resort like with limestone walls and extensive facilities, including pools, gyms, squash court, sauna, spa and steam room.
The entire building has just completed a major restoration to the tune of $1.5 million.
“The incoming purchasers saw the current world economic turmoil and the fact that the property  was in the hands of Taylor Woodings as receivers and managers, as providing an extraordinary opportunity to secure a unique and dramatic penthouse of enormous proportions at a very attractive price,” Smith says.
“When finished the new owners will have arguably created the biggest and best penthouse in  Sydney in a prestigious and completely restored building,” Harding adds.
It was listed through the receivers after the developer, Simon Symond, who was weighed down by a stalled shopping centre project at Toongabbie, lost control of it during the global financial crisis.
The penthouse, which took Symond a decade to develop, was completed in 1996.
Symond bought The Ritz site for $3 million in 1986 when it was a rundown boarding house accommodating 90 tenants paying about $50 a week.
It sold through LJ Hooker Mosman, who had its listing in conjunction with Colliers International Hong Kong agent James Hall in case there was any offshore interest.
It’s understood the sale fell short of $9 million, which was the aim its 2010 marketing campaign, and a north shore apartment record.
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Ritz Cremorne Point penthouse to get renovation after sale to retirees

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Professional golfer Fred Couples has listed his home in La Quinta, California, at US$4,195,000.
The Spanish-style villa with courtyard with a fountain sits on nearly a half-acre site with mountain views.
Its interior features include limestone and wood floors, arched windows, a great room with an oversized stone fireplace, a wine room and two master suites with stone fireplaces and terraces. There are four bedrooms and four bathrooms in the 483-square-metre house, which is being sold furnished.
Among community amenities are two fitness centres, a swimming pool and a private golf course designed by Tom Fazio.
Couples uses the house as a place to relax at the end of the golf season. He is selling because he plans to build a custom home in the same development. Public records show Couples bought the property in 2009 for $3,047,500.
<a href="https://www.janinestevens.com/" target="_blank">La Quinta Real Estate and Luxury Homes </a>agent Janine Stevens<a href="https://www.zillow.com/homedetails/81670-De-Soto-Ave-La-Quinta-CA-92253/89236443_zpid/" target="_blank"> is marketing the property.</a>
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Golfer Fred Couples lists in California for US$4,195,000

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Former NSW lands minister Tony Kelly faces the prospect of criminal charges after the Independent Commission Against Corruption found he acted corruptly over the purchase of the Pittwater property, Currawong.
The NSW corruption watchdog has found Kelly "engaged in corrupt conduct" earlier this year involving the $12.2 million purchase.
ICAC commissioner David Ipp has advised the state government to consider launching criminal charges.
The former workers’ retreat at Currawong had a troubled planning history, having been sold by Unions NSW to a private developer, Eco Villages, in controversial circumstances in 2009.
Less than a fortnight before this year's state election, and despite lacking authority from the former NSW premier Kristina Keneally, the former chief of the Land and Property Management Authority Warwick Watkins bought the land for public use in March much to the joy of conservationists.
The report tabled in Parliament found Watkins engaged in corrupt activity when he asked Kelly to sign a backdated letter that gave him permission to buy a property, Currawong, without the government’s consent.
The nostalgic 20-hectare Pittwater beachfront site is where union workers have holidayed since 1949.
There was wild talk of its $20 million value in boomtime 1988 when the Labour Council was under the control of John MacBean.
In 1990 the NSW Trades and Labour Council overturned its decision to sell its Currawong Beach site to the property developer CRI for $3.87 million.
It was relisted in 1991 by Michael Easson's Labour Council of with private residential potential or small leisure resort possibilities, and spruiked by Macquarie Bank's Rob Lee.
In 1999 Michael Costa, who was then the Labour Council secretary, tried unsuccessfully to negotiate a 99-year lease with the transcendental meditation group Maharishi TM Incorporated.
In 2006, three days before Christmas, Allen Linz and Eduard Litver lodged documents with the Land Titles Office for the Currawong beach cottages, which are surrounded by national park, under the company name Echo Villages Pty Ltd.
A spokeswoman for the Friends of Currawong, Jo Holder, accused the then secretary of Unions NSW, John Robertson, of deliberately putting the land in private hands after a long campaign to retain it for public use.
 
 
 
 
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Former NSW lands minister Tony Kelly faces criminal corruption charges over government's Pittwater land purchase

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The offshore takeover of Australia’s sugar cane fields and sugar mills has continued following Thai sugar giant Mitr Phol seeking shareholder approval to take over north Queensland-based MSF Sugar.
The Thai company is seeking to acquire four far north Queensland sugar mills, more than 6,000 hectares of agricultural land and other infrastructure assets owned by MSF Sugar, a company dating back to 1886.
Mitr Phol has today opened its $313 million all-cash takeover offer for acceptance by MSF Sugar shareholders.
Mitr Phol has given shareholders until February 10 to accept its $4.45 per share offer, which has already been unanimously recommended by the directors of MSF Sugar.
To be successful, the bid must be accepted by 50.1% of shares on issue.
The offer is at a 31% premium to the MSF trading price of $3.40, the last trading price before shares were suspended following the takeover bid announcement on November 7. Shares in MSF are currently trading around $4.47.
Earlier this month, Sucrogen, a subsidiary of Singapore-listed agribusiness conglomerate Wilmar International Ltd, obtained creditor approval for its $120 million purchase of Proserpine Sugar Mill.
Sucrogen acquired Proserpine following a five-month battle with Chinese giant COFCO (the China Oil and Food Company).
Aside from its sugar mill holdings at Gordonvale, South Johnstone, Atherton Tablelands and Maryborough, MSF Sugar is a shareholder of Sugar Terminals Australia, the owner of six major port facilities in Queensland.
It sources its cane sugar from a property portfolio of almost 5,500 hectares in the Maryborough district, 60 hectares in the Isis district and 315 hectares in far north Queensland as well as from about 660 independent growers.
It also owns a 174-hectare tract of former cane land known as Mary Harbour located in Maryborough and earmarked for a mixed urban development (subject to planning approval). Other assets include water rights totalling 7,233 megalitres in the Lower Mary Irrigation Scheme and 142 megalitres in the Bundaberg Water Supply Scheme.
MFS Sugar’s origins date back to 1886, when The Maryborough Sugar Factory began operations as a juice mill.
Mitr Phol is Asia’s largest sugar producer and among the six biggest in the world with operations in Thailand, Laos and China.
 
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Thai sugar giant Mitr Phol seeks to take over 125-year-old Queensland sugar company MSF Sugar

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Australian farmer confidence has staged a mild recovery off the back of good spring seasonal conditions across much of the country, according to the latest quarterly Rabobank Rural Confidence Survey.
The survey found 24% of primary producers expected the agricultural economy to improve in the next 12 months, which was up from 18% in the previous quarter.
The number expecting conditions to deteriorate dropped to 20% from 35% previously, according to the Rabobank Rural confidence survey, which has questioned about 1,200 farmers each quarter since 2000.
Rabobank general manager Rural Australia Peter Knoblanche says very good growing conditions throughout spring across much of the country had been the major factor boosting farmer confidence.
“We are now looking at one of the biggest grain harvests on record, although recent rains in northern and central New South Wales, as well as parts of Victoria and Western Australia, have delayed harvest and impacted the quality of the grain coming off,” he says.
Knoblanche says although farmers have been buoyed by the positive spring conditions, concerns about another wet finish to harvest and into summer are keeping confidence at subdued levels.
“With a La Nina weather pattern back this year, farmers are on tenterhooks that there might be a repeat of last year’s wet summer that saw what would have been a good year for grain marred by a wet harvest and rain damage,” he says.
Of those expecting the agricultural economy to improve over the next 12 months, 49% cited seasonal conditions as a driving factor, while 40% nominated commodity prices.
Farmers had mixed views on commodity prices, with prices also being nominated as a concern among those expecting the conditions to deteriorate.
“While beef and sheepmeat prices have held at relatively high levels, grain prices have been softening – and have come off even further since the survey was taken,” Knoblanche says.
Other concerns included overseas economies and markets (21%) and rising input costs (20%).
Public policy and government intervention – of major concern for farmers last quarter – were still an issue, cited by 27% though well down from 45% previously.
Farmers’ expectations of their own business performance had also improved.
The Rabobank survey found 38% of those surveyed expected to see improved performance in their business over the next 12 months, up from 31% last quarter.
Only 9% expected their business performance to worsen, down from 21% previously.
The improved income expectations have followed a generally favourable third quarter for gross farm income this year.
Knoblanche notes a total of 45% of Australian producers surveyed reported higher gross farm incomes compared with the same period the previous year, 35% the same and 18% lower.
The survey found all states recorded improved sentiment compared with the previous quarter, with confidence strongest in Western Australia and Tasmania.
Knoblanche says Western Australian farmer confidence was driven by very positive seasonal conditions experienced in the state, although excessive rainfall had impacted cropping.
“Quality is expected to be lower on large tonnage as a result,” he says.
“However the yield will hopefully help offset quality issues and lower commodity prices.”
Knoblanche says Tasmanian confidence was largely driven by plentiful spring rainfall, especially in the areas that had been drier.
“If the higher than average rainfall continues into the remainder of the year, good pasture cover should continue well into summer for graziers, while crop yields are expected to be good,” he says.
South Australian farmer confidence had improved slightly from last survey, however SA was the only state still reporting negative sentiment – with more farmers expecting conditions to worsen than the number expecting them to improve.
“The reality is things are still pretty good in South Australia, but the state is coming off an extraordinarily year in 2010 which saw a record-breaking crop and excellent conditions for livestock and this appears to be influencing their feelings about the year ahead,” Knoblanche says.
Softer commodity prices in the grain sector were also subduing South Australian farmer confidence levels.
Improved seasonal conditions were the main driver of the improved confidence among New South Wales farmers.
“However, in the north of this state, in recent weeks it’s become a case of ‘too much of a good thing’,” Knoblanche says, “with floods affecting cotton crops in the north west and negatively impacting on grains in some other areas.”
Concerns about rainfall impacting on this year’s grains crop was also keeping Victorian farmer optimism in check, although the state had also seen some rise in rural sentiment.
Queensland rural confidence levels also remained relatively low, though optimism was being driven by expectation of good commodity prices in the meat and sugar sectors.
Confidence had improved in all sectors, except dairy.
“With the case of dairy, it’s more a matter of returning to the status quo after very high confidence levels seen in this commodity earlier in the year,” Knoblanche says.
“That said, production looks good in most dairying areas, although farmers are anticipating some wind back in milk prices which has dampened sentiment slightly.”
Beef was the sector with the highest confidence levels, staging a dramatic turnaround from the previous quarter – when beef producers had the lowest confidence.
Knoblanche says generally solid prices in the livestock sectors were experienced through the survey period.
Graziers were also benefiting from good pasture growth due to spring rains.
The outlook among the grain sector is less positive, he says, with a significant differential in prices for milling and feed grain wheat.
“This is due to residual levels of feed grain held over from last year and a generally softer outlook for global grains this year,” he says.
Cotton and sugar cane sector confidence also improved, though with sugar still at relatively low levels.
“Prices for both these commodities eased over the quarter although remain stable and above the historical average,” Knoblanche says.
“For cotton, there has been a successful start to the season with an abundance of rain following planting, although the rain has caused some damage to the predominantly dry land crops around Moree.
“Cane growers have had favourable weather through the Australian crush which is drawing to a close. However weather-related impacts from last season limited Australian sugar production in 2011.”
 
 
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Farmers more positive after good spring crops: Rabobank survey

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{yoogallery src=[images/stories/november14hawkins]}
The Coogee home of Jennifer Hawkins, the former Miss Universe, television personality and swimwear designer, and her fiance, Jake Wall, was passed in at weekend auction on a $2.5 million vendor bid through McGrath agent Adrian Bo.
It’s now listed with a $2.6 million asking price.
The couple moved out of the Moore Street townhouse several months ago – staying at The Star casino in the interim – while waiting for construction of their northern beaches home to be completed in the Windy Dropdown gated estate.
<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/new-south-wales/model-jennifer-hawkins-coogee-pad-finally-hits-the-market/2011111452342" target="_blank">The 2003-built Coogee property</a> has three bedrooms and three bathrooms. It cost Hawkins $2.27 million in late 2008.
The main bedroom comes with ensuite, dressing room and terrace. One of its ultra-modern bathrooms has a Japanese agape spoon bath. Its third bedroom could be a home theatre or home office.
There’s a private rooftop terrace with ocean views as well as a cellar – all a stroll to Gordon’s Bay and Coogee and minutes to shops, cafes and transport.
Much of the house, including a feature wall of Florence Broadhurst-style wallpaper, pre-dates Hawkins’ 2008 purchase.
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