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.

Joel Robinson

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]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

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Garry Rothwell, founder and principal of the Winten Property Group, has been named Property Person of the Year 2011 by the Urban Taskforce.
Since 1972, off the back of his architectural training, Rothwell has undertaken more than 180 development projects, building a reputation for quality of design and innovation, the award panel noted.
While much of the Winten’s public persona centres on boutique apartments constructed most noteworthily in Point Piper, Cremorne Point, Potts Point and Palm Beach, Rothwell has also developed extensively in medium-density markets and pioneered more affordable compact living apartments on Sydney’s lower north shore.
“Along with his development activities Garry is an active supporter of various charities, including the dedication of time through directorship roles, and a patron of heritage preservation,” Urban Taskforce’s chairman Noel Hemmings says.
“From a base of residential development activity, Garry expanded into land subdivision and has developed many thousands of lots throughout estates in NSW and South East Queensland in the last three decades.
“Growth continued into the commercial office sector, where notable successes include the winning tender for the NSW Police Headquarters at Parramatta,” Hemmings says.
“Garry’s group has been a consistent winner of industry awards and in particular was the winner of the inaugural Urban Taskforce Development Excellence Award in 2002 for the Forum at St Leonards.
“Garry pioneered transit-orientated development and Forum remains the template for high-density mixed-use developments over railway stations.”
Winten’s current portfolio includes planning for some 6,000 home sites in Sydney’s North West Growth Centre, some 140,000 square metres of next-generation commercial office space along with 200 residential apartments on Sydney’s Lower North Shore and continued land subdivision in the Lower Hunter and southeast Queensland.
The Winten Property Group has never maintained a construction arm, preferring to contract individual projects to those builders best resourced for a specific job.
Its website notes the group has grown from the architectural talent of its principal into a multi-discipline company with approximately $800 million of project activity underway.
Its business name is Garry Rothwell's middle name.
Garry Rothwell and his wife, Susan, have been major supporters of the Endangered Houses Fund within the NSW Historic Houses Trust.
The Property Person of the Year Award, now in its ninth year, was awarded last year to Bob Rose, chief executive officer of Rose Property Group, whose 50-year career in property has included the ongoing development of the 52-hectare AGL site at Mortlake – which has been transformed into the new Breakfast Point community. Breakfast Point, a joint venture with Cbus, will be home to 5,000 people after its 16-year development program roll-out.
The inaugural winner was Harry Triguboff, chairman and managing director of Meriton Apartments Pty Ltd, which has built more than 55,000 houses and apartments in Australia. In 2004, it completed Sydney's tallest residential building, the World Tower, and in 2011 it completed Brisbane’s tallest building.
Other previous winners included Wal King, chief executive at Leighton Holdings, Greg Goodman, chief executive at Goodman, Bill Moss, former chief executive officer of the banking and property group at Macquarie Bank, Lang Walker, chairman of Walker Corporation, and Liam Forde, the chief executive of Baulderstone Hornibrook.
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jchancellor-FAypfDUnLy

Garry Rothwell named Property Person of the Year

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
Suddenly, borrowing to invest in direct property through self-managed super funds is much more appealing. Following the recent release of a SMSF draft ruling, countless fund trustees would be feeling more confidence in the strategy – particularly when investing in older properties. 
In <a target="_blank" href="https://law.ato.gov.au/pdf/pbr/smsfr2011-d001.pdf">the draft ruling</a>, the ATO explains in detail its interpretation of the SMSF borrowing laws in relation to the purchase, maintenance, improvement and other fundamental changes to geared real estate.  
And the regulator effectively provides a blueprint for SMSF trustees on how far they can go in looking after and improving their properties within strictly-controlled borrowing arrangements – according to its interpretation of the law. 
For most SMSF investors in geared direct property, the draft ruling suggests they can maintain their assets with a fair degree of freedom using money borrowed under the original loan arrangement. 
Meg Heffron, co-principal of specialist SMSF administrator Heffron and a former member of the Cooper superannuation review, puts the draft ruling into perspective. 
“This is a ruling – and a draft ruling at that – rather than a legislative change,” Heffron emphasises. “It is simply the view that the ATO intends to take in regulating SMSF borrowing.” 
Although noting that a court could one day reach different interpretations on some issues, Heffron realistically adds that many SMSFs prefer to follow the ATO’s thinking rather than risk a clash with the regulator. 
Sydney tax lawyer Robert Richards succinctly adds: “The value of the draft ruling is the examples [see case studies below] as to what will, and as to what will not be, acceptable to the Tax Office.” 
In other words, SMSF trustees who are considering gearing property should pay close attention to the draft ruling. 
Although the final ruling will no doubt contain some changes after consultations and submissions, it will almost certainly mirror what has been described as a pragmatic and practical approach to interpreting the laws involving maintaining and improving geared property in SMSFs. 
Previously, many SMSFs would have been uncertain about the extent they could go to with renovations, maintenance, improvements and changes to geared properties without contravening the law – or at least the ATO’s interpretation of the law. (The final ruling will apply to gearing from July last year when key changes were made to the SMSF borrowing laws.) 
SMSF advisers are typically expecting a marked pickup in the gearing of properties by funds. It would be difficult to believe otherwise. 
Here is our three-point, no-nonsense guide to the draft ruling: 
Understand what is an acceptable geared asset
 
Detail: In July last year, superannuation law was amended to stipulate that a SMSF is only permitted to borrow to buy what is called a “single acquirable asset”. This means that a separate borrowing arrangement is necessarily for each geared asset. A difficulty is that it is not always clear to fund trustees whether a property – such as a building constructed across two titles – is a single asset or not. 
Draft ruling: Here the ATO displays its pragmatism. “Fortunately,” says Heffron, “the ruling indicates that the ATO will take the view that where the two [assets] cannot be separated, they will be treated as a single asset.” This is the position even if a property is over more than one title. 
“This is a new, far broader and more practical interpretation,” Heffron adds. “Previously, the ATO has effectively equated ‘asset’ with ‘title’.” 
Case studies from draft ruling: A factory is built over three titles yet, under the draft ruling, the ATO would treat the property as a single asset that could be acquired with a single borrowing arrangement. 
An apartment and its car park are on separate titles. And state law, in this case, does not allow the properties to be sold separately. Under the ruling, the ATO would treat the properties as one asset. 
A SMSF wants to buy two adjacent blocks of land that the vendor will only sell together. However, there is no physical or legal reason why the blocks are not sold separately. The ATO would treat the blocks as separate assets. And therefore, the fund must enter into separate loan arrangements to gear the properties. 
A SMSF wants to buy an off-the-plan apartment. Under the draft ruling, the ATO would allow the fund to use its own cash to secure the purchase. And then the fund could enter a borrowing arrangement to buy what the ATO would treat as a single asset.
<a href="https://www.propertyobserver.com.au/renovating/what-you-need-to-know-about-borrowing-via-a-smsf-and-property-repairs/2011101251901">Tomorrow we will review the difference between repairs and improvements and discuss what improvements create a new asset.</a>
For more on self-managed super funds and property, download our e-book.
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mlaurence-vhAHaLZT8y

Tips for borrowing through your DIY super for property investment

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I have had the pleasure of spending three and a half weeks walking through central Italy.  Many have asked me since my return about what is happening over here in relation to the European Union (EU) and the euro.
The European condition (outside of Germany and maybe the Nordic block) can best be summed up in nine words – “the ruins proclaim that the city was once prosperous.”
For mine, we are witnessing the dying gasps of the EU and the euro as we know it.  The world-renowned American economist Milton Friedman said that the EU wouldn’t make it past its first recession – it looks like he was right.  And this is not a trivial event.
In short, European countries are just too diverse to create a long-lasting currency zone.  Languages, cultures and mindsets are very different across its membership.  Most locals I spoke to during our trip identify themselves via their city or region first and foremost, then country but never as a “European”.
While the thrusts behind the creation of the EU are numerous, it isn’t a military alliance (such affairs are linked to NATO) but an economic one.  The idea was that free-trade, regulated by a central bureaucracy, would unite greater Europe, suppressing nationalism and creating prosperity without surrendering what it means to be French or Italian.  The common currency – the euro – is the ultimate expression of this hope.  But in the end, Germans are Germans and Greeks are Greeks.
And “united” does not mean “even”, and Europe’s wealth is not evenly spread.  There is deep-seated resentment between countries and even regions across Europe, which, as history shows, can be suppressed when times are good but resurface when things go custard.  This is especially the case when the controlling identities (Germany and to some degree, France) play by the rules while many others don’t.  For example, it is estimated that 10% of all employment across Italy is “off the books” and in some southern European states the black market accounts for close to half of the country’s trade.
I witnessed such first hand, with the official numbers suggesting recession, but many Italian streets indicating a much stronger real economy.  Most cafes and restaurants ask for payment in cash, while the Italian police wait outside asking customers to see receipts, in some half-baked effort to slow down black-market trade.  It is little wonder that the German and French public don’t want to continue to bail out their neighbours.  As a result, the level of distrust is growing; resentment is on the rise and so too are the local calls for nationalism.
An important sidebar here is that the formation of the EU removed the once-strong legal barriers to migration between European countries. For example, in the last 10 years alone, close to 4 million new migrants have moved into Italy – many from poorer European countries – adding to the growing unrest.
Major action and political leadership is needed and now, but I cannot see the current crop doing anything much about it.
Even if the political elite muscled up, the EU restricts any sensible economic response.  Most economic policy makers would like to achieve three goals – open up their markets to international capital; use monetary policy to help even out their economy; and maintain a stable currency.  Ironically, you cannot achieve all three at once, but you need two working at the same time to prosper.
The US has chosen the first two options; China the second and third.  The troubled EU countries have no monetary choice, cannot influence their currency and also now have very limited fiscal options available to attract foreign capital.  Something has to give. and the public will demand that their governments use all the economic tools available to a sovereign country.
I expect the unrest to increase and spread across Europe.
There will be winners and losers there, with Germany and the emerging Russia and Turkey getting the upper hand, while the “PIIGS” are somewhat doomed, economically.  Europe will, of course, remain a large economy, and it will still consume goods and services; and the best case scenario for the region is little or no real economic growth over the next, say, five years.
The most likely outlook, however, is that the “European” economy will shrink. Major capital/bond listings are likely to be required, which will cause inflation to rise and maybe to hyper levels, resulting in higher global interest rates.
The Bank of England’s decision last week to pump £75 billion ($A 119 billion) of newly created money into the UK economy won’t be the last quantitative easing we will see.  QE typically raises the price of the assets bought, which lowers their yield or economic return.  In short, such action can be very inflationary whilst reducing an investment’s return and underlying value.
England’s latest move clearly illustrates that the political elite will continue to dribble out economic assistance in the hope that prosperity will return, instead of fixing Europe’s economic problems.  On the one hand who could blame them as there is really little to hold the EU together except for the promise of prosperity?  In the meantime, the European public are accumulating grievances, with some remembering how to hate.
I will not go into the history behind the last two world wars and I am not suggesting WWIII, but there are some common elements emerging, and armed conflict in Europe isn’t out of the question.
This bluster aside, we had a fantastic time, visiting close to 20 Tuscan towns and cities and walking about 350 kilometres from Orvieto to the sea.  The food and wine was so good that I, despite the exercise, put on weight!
Oh and by the way, if you want to visit Europe, I would maybe do it sooner rather than later.
Also, whilst the RBA’s present monetary policy stance is mildly restrictive, I don’t expect rates to fall on Melbourne Cup; to do so would suggest that the world’s economy is indeed going pear shaped, and as we argued in a previous missive such action might be counter-productive.  Interest rates here are likely to remain steady for some time.  But they will rise in the future and maybe more than many think.
We have been advising snapshot subscribers that they need to be able to comfortably service a mortgage 1% higher than today’s rates.  Also buyers need to hold a residential asset for at least five years in order to see any worthwhile capital appreciation.  But if Europe’s economy takes a turn for the worse then our suggested 1% buffer needs to be lifted to 2%, maybe 3% and any half-decent asset growth will take much longer.
It might be time to prioritise achieving the return of your capital, not the return on your capital.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>.
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michaelmatusik-49YzLvdmNv

The end of the euro is nigh, and it will affect Australia's markets

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{yoogallery src=[images/stories/october12villa]}
This 15th-century villa near Montepulciano, Italy comprises 4,330 square metres of space spread across three floors. It includes six bedrooms and five bathrooms, three living rooms and a chapel. 
On 2.4 hectares of land, the grounds include immaculate gardens and a swimming pool, and the villa comes with a further 30 hectares of vineyard and olive-producing land.
It is being marketed by <a href="https://www.kwnyc.com/index.cfm?page=details&amp;id=14702" target="_blank">Keller Williams </a>agent Richard Tayar with price hopes of  €38 million ($52 million).
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cknowlton-QnEa6ntUYP

Italian villa for  €38 million

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{yoogallery src=[images/stories/october11oceanique]}
Serious money is beginning to trickle back in the WA’s troubled prestige residential market, with Port Bouvard securing another two settlements on its Oceanique development. 
Located on the waterfront at Dawesville, south of Perth, the latest settlement is for a $2.1 million apartment in the glamorous project. This brings the total number of sales to 27 units in the 66-unit twin-tower building, for a total of $65.7 million. 
Despite being lauded with awards from the Master Builders association, the UDIA and the Royal Australian Institute of Architects WA Chapter, the project was released into a troubled market. 
“Sales are slow but we are making them, which is good for these market conditions,” says Port Bouvard executive director Stephen Court. 
Of the 27 sales, 19 relate to presales and eight are deals secured since December, when the company discounted some units by 40%. 
The developer has targeted investors who specialise in buying display units and lease them back for its three display apartments in Oceanique. 
“We are offering a 9% return for two years on these units, which are worth between $900,000 and $2 million,” Court says. “This is a tried-and-tested marketing method and a good opportunity for investors with their cash parked up to get into the market at low and even sub-market prices.” 
<a href="https://www.propertyobserver.com.au/news/was-south-west-shaken-not-stirred/2011070650723" target="_blank">Late last year the company started a savage price-slashing campaign to stimulate interest</a>, and it brought several sales to the table and renewed interest. 
Now prices are steady at 25% off original projections set in 2007. “We started marketing Oceanique in 2007 when the market was blasting along, so we were hit hard by the GFC,” Court says. 
The company is pursuing some sales made off the plan through the Supreme Court.
About half of the 15 pre-sales are currently in mediation as part of the judicial process while the balance are in “sensible negotiations” with the developer. “Some people were ruined by the GFC and we are not interested in that type of business, but we will go all the way to settle deals that were done,” Court says says. 
Next year Port Bouvard will start construction of a massive 3,080-home site and marina development at Point Grey in WA’s Peel region and has plans for a canal project in Esperance for 2014.
For advice on buying off the plan download our free e-book.
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andreadixon-oif3j7eKne

Calmer waters for WA's luxury Oceanique development as sales pick up

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{yoogallery src=[images/stories/october11isabella]}
Friesia, the 1888-built Italian Renaissance-designed Hawthorn house and one of Melbourne’s most captivating residences, has been listed for sale. The single-storey mansion was designed for German consul William Brahe by architect John August Bernard Koch, who later designed Labassa in North Caulfield.
The Hawthorn<a target="_blank" href="/news"> </a>house was last traded in 1970 for $49,000 totally derelict – with no electricity, no hot water, no internal toilet, and the sky could be seen through most rooms.
It’s been listed by Kay &amp; Burton agent Scott Patterson, with offers due by November 15. Patterson hopes to secure $6.5 million plus for the property.
Decorated in a way befitting a man of Brahe's standing, there are three dwellings set within established gardens covering approximately half an acre.
The residence, with its unique single-storeyed arcaded loggia (veranda) and internal octagonal domed vestibule, was inspired by the works of Filippo Brunelleschi, father of Italian Renaissance architecture in Florence.
From its Corinthian-arcaded entrance, Friesia exhibits the grandeur, glory and grace of Melbourne's magnificent boom period during the 1880s
It’s been listed by Warwick Forge and his wife, Sue, who have been running the biennial Australian Landscape Conference for 10 years in a bid to bring together creative landscape designers from overseas and Australia.
They camped at Friesia on the first night with candles.
Set in the small Isabella Grove enclave near a bend of the Yarra a pocket of German high culture was formerly centred on Friesia.
The flow of German immigrants began within 10 years of Melbourne being established in 1835, with vignerons laying the foundations of the Victorian wine industry in the Lilydale and Geelong districts during the 1840s, and many were attracted by gold discoveries in the 1850s.
The marketing material says it was a much-loved cultural meeting place for educated Europeans during the 1880s – a golden age for Australian art and architecture.
“However, during the First World War, the German eagles on the parapet, German flags and German generals painted on the octagonal hall ceiling were all removed owing to anti-German sentiment,” says the house’s marketing material.
William Brahe was a founding partner of the 1856 law firm Garland Hawthorn Brahe. Brahe was appointed consul for Prussia in 1868 and consul for the North German Confederation in 1869. On the re-establishment of the German Empire in 1870 he was appointed consul for the German Empire, a position he held for 25 years.
In 1924, “Vally” Cole, son of E W Cole – famous for Cole's Book Arcade in Bourke Street – purchased Friesia for £6,000 pounds.
Vally's daughters, Nancy and Evangeline, lived on until 1970 when it was sold to the Forge family.
Friesia has been described as the most beautiful house in Melbourne by Dr George Tibbits, senior lecturer in the faculty of architecture at the University of Melbourne.
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Hawthorn house built for 19th-century German consul on the market

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Australian property developer Sunland’s progress on its two Dubai projects, Palazzo Versace Dubai and D1 Tower, continues at a slow pace.
Set inland on the banks of Dubai Creek, Palazzo Versace Dubai has an anticipated mid-2012 opening.
Work on Palazzo Versace slowed and sales slumped as a result of the economic global financial crash of 2008 that eventually consumed Dubai in 2009.
Its early off-the-plan buyers have been required to make regular purchaser progressive instalments on the two projects and as at June 2011 they totalled $396 million (AED1.45 billion).
But sales achieved over the past year slowed, with just three in the Palazzo Versace Dubai totalling AED15 million and 26 sales in D1 totalling AED64 million.
The apartments for sale range from one bedroom to six bedrooms.
<img src="/images/stories/versacefurniture.jpg">
The Versace-branded resort – unveiled in 2006 – will include 169 private apartments and 217 hotel suites, decorated with furnishings from the Italian designer’s home range (pictured above and below).
<img src="/images/stories/versacefurniture2.jpg">
The developer companies have taken legal action against non-performing purchasers across the projects, according to the annual report.
Forfeited deposits for Palazzo Versace Dubai and D1 total $55.6 million (AED 216.3 million).
Sunland’s net tangible assets per share in Dubai represents just $0.02 of Sunland’s total net tangible assets per share of $1.55.
Sunland’s development projects in Dubai are non-recourse to the group, meaning that development and funding risks are limited to the respective projects.
There is no recourse back to Sunland’s Australian operations.
The market is expected to remain challenging in the short to medium term.
In its June 2010 annual report Sunland noted the D1 residential tower was 60% complete and the Palazzo Versace Dubai was 70% complete. Palazzo Versace Dubai is 87% complete 13 months later.
Plasterboard works are now completed in all condominiums, along with the installation of all major services installation to the condominiums and plant rooms.
Stone floors are complete to approximately 40% of the condominiums, and separate crews are working on level three and level eight.
A total of 600 panels have been installed during June, and approximately 85% of the façade is installed, its July building update notes.
It is being developed by Emirates Sunland Group, a joint venture between the UAE’s Emirates International Holdings and Australian-based Sunland Group Limited.
In 2008 Sunland Group Limited entered into an agreement with the House of Versace for the global rollout of the Palazzo Versace Hotels. The company committed to a payment of €6.75 million by December 2009.
It was anticipated there would be 15 such hotels.
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Sunland's troubled Dubai projects progressing slowly amid defaults

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After 15 years of service, Taine Moufarrige has resigned as an executive director at Servcorp Limited.
Moufarrige wishes to spend more time with his young family, and board chairman Bruce Corlett has asked him to stay on as a non-executive director.
Servcorp is a world leader in providing executive serviced offices currently operating 118 floors in 52 cities across 21 countries.
The Moufarrige family remains active in the operational management with Taine’s father, CEO Alf Moufarrige, and his brother, senior executive Marcus Moufarrige, who has been with the company for 16 years.
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Taine Moufarrige steps down as executive director of Servcorp

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{yoogallery src=[images/stories/october11hulkhogan]}
Mid-1990s WWF star Terry Bollea - known to all and sundry as Hulk Hogan - has more than cut the asking price for his Florida mansion by more than half. Hogan initially put the five-bedroom, eight-bathroom property onto the market with price hopes of US$25 million in 2006. Finding no buyers, he removed it from the market until 2009, when it was listed with price hopes of US$ 13.9 million. In February 2010 Hogan wanted US$10. 9 million, and now the reality star is willing to settle for US$8.85 million. 
Hogan bought the property in 1992 for $2 million, and it featured in the reality show Hogan Knows Best.
The property is on a hill and overlooks the Intercoastal Waterway to the Gulf of Mexico. It comprises 1,580 square metres of living space, a dock with two boat lifts, and of course, a massive gym. It also includes a four-room guest apartment. The property is being marketed by Martha Thorn of <a target="_blank" href="https://www.coldwellbanker.com/property?propertyId=209219123&amp;mode=detail&amp;brandType=CB">Coldwell Baker Real Estate</a>.
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Hulk Hogan wrestles his asking price down to size

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After 77 years of Ashton family ownership, Millamolong East, the 1930s Mandurama property in NSW's central west, has been sold off in three parcels.
It was listed by Susan Ashton and her four children following the death last year of Susan's husband, polo champion James.
The total sale price has not been disclosed, but is understood to be less than its$9.6 million asking price. 
The parcels totalling about 3,400 hectares were sold through Ian Roberston at Elders Cowra. It sold at about $900 an acre, or about $2,250 per hectare.
Situated 50 kilometres from Cowra, the property, with Belubula River frontage, was settled in 1836 and remains one of Australia's oldest working stations.
The offering came with the 28-hectare wine estate but not its renowned polo facilities or homestead, with the family retaining about 84 hectares.
Steeped in history, Millamolong was bought in 1934 by James Hay Ashton, one of the four brothers who took the British and American polo establishment by storm in the 1930s.
The eight-bedroom homestead, with seven fireplaces and an Aga slow-combustion stove, was designed by Orange architect S.C. van Breda and built in 1936.
Its rooms hold trophies and memorabilia from the family's three generations of polo playing and equine breeding.
The grounds come with a floodlit tennis court, pool and separate accommodation for guests.
Millamolong remains a hive of activity, from polo-pony breeding to sheep and cattle grazing and farm-stay accommodation.
Its award-winning vineyard has the varieties of chardonnay, cabernet sauvignon, merlot, riesling and shiraz, planted in 2000 and producing between 200 and 300 tonnes with forward contracts until 2013.
It has won gold medals for cabernet and shiraz at both Orange and Cowra wine shows.
<a href="https://www.meares.com.au/property/millamolong/gallery/millamolong.htm" target="_blank">Millamolong East</a> also has two acres of truffles.
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