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]

Joel Robinson

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

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

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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Plans by ASIC to implement a tougher disclosure regime for unlisted property trusts starting July 2012 have received support from the Property Funds Association (PFA).
PFA board member Hamish Bowman says the cost of complying with new benchmark requirements will be outweighed by improved investor security and investor sentiment.
“It is a step in the right direction,” he says.
Under the ASIC proposal, unlisted property trusts will be required to comply with six key benchmarks around gearing, related party transaction, valuations and distribution, and they will also be required to advertise that they are complying.
According to Bowman, who is also chief executive of Salvest Capital, the proposed legislation has come at a good time, because funds are starting to trickle back into the unlisted property sector and the new rules will help raise investor confidence.
"Investors were the ones that carried the financial burden, to a large extent, throughout the global financial crisis and that was because there weren't many hurdles," Bowman told InvestorDaily.com.
"Now, it is going to put the onus back on managers to substantiate, to another level, the investment that investors buy into." However, Dugald Higgins, a senior investment analyst at research group Zenith Investment Partners, told the AFR some funds may push back against the tougher guidelines because they do not wish disclose sensitive financial metrics such as cost of capital.
Furthermore, Higgins, who has analysed 100 of the largest funds, which hold $12.4 billion in assets, warns the proposed compliance regime will not be a “silver bullet” for investors, who will still need to their homework on a fund before investing.
“It is very easy to project false confidence,” he says.
Industry participants have until September 6 to comment on the consultation paper.
ASIC will then draft an updated regulatory guide to be released in December 2011.
July 1, 2012 is proposed as the start date for trusts to begin disclosing against the benchmarks and amended disclosure principles.
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lschlesinger-FZcF9M3vE6

Unlisted trusts: ASIC compliance worth the cost: industry

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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.
 
<img src="/images/stories/melbapartment-cropped.png">
March quarter ABS tourist accommodation figures for Melbourne’s serviced apartment market (15 rooms or more) suggest residential investors should take a closer look at the sector.
Melbourne, with 107 apartment complexes and 7,348 serviced apartments, makes up more than three quarters (78%) of the 9,525-room Victorian market.
The capital city has enjoyed strong growth in all key aspects of the serviced apartment sector.
Occupancy rates increased strongly to 83% in March 2011, compared to 74% at the start of the year and 77% a year ago.
Rooms occupied by guests rose from 167,000 nights in January 2011 to 188,000 in March, after suffering a slight dip in February. They are 8% higher than March last year, when room nights tallied 174,000.
Over the March 2011 quarter, overall guest numbers rose from 98,000 arrivals to 107,000, while total guest takings were up 6% to $34 million. On average, one night’s accommodation in a Melbourne serviced apartment generates $181, compared to $176 a year ago, and not far off the $199 a night a Melbourne hotel generates on average per paying guest.
Private hotels, motels and guesthouses in Melbourne generate about $130 a night.
Apartments selling at under $200,000
Against the backdrop of a strong growth, searches of real estate listings reveal a number of affordable serviced apartments for sale in the Melbourne CBD.
Agents are targeting the properties at residential investors, who would otherwise not have the funds to gain direct access to the leisure sector.
A one-bedroom Oaks serviced apartment at 480 Collins Street in the CBD, advertised for sale by First National Real Estate City Residential at $165,000, currently returns net rents of $10,143 per year and 3% capital growth.
The building offers tenants a business centre, pool, gym, sauna, laundry service and restaurant. All outgoings are paid by the tenant.
Just outside the Melbourne CBD, Grant Wallace from Hocking Stuart is selling a Quest apartment at 651 Chapel Street, South Yarra, for $300,000. The apartment offers a rental return of about 5%.
And in Melbourne’s Docklands area Richard Mindraoui from City Residential Real Estate is selling a 65-square-metre, one-bedroom apartment leased by the Mantra Hotel at 222 Russell Street for $310,000.
Mindraoui says the apartment brings in net rents of $18,720 per annum and is currently secured with a 13-year lease.
Regional markets in the doldrums
The ABS figures provide little detail on regional serviced apartment markets outside Melbourne.
Where they are available, it appears these markets have suffered the same fate as other regional markets in Queensland and NSW, where occupancy rates and takings have trended downwards.
In western Victoria, which includes the regional cities of Geelong and Ballarat, serviced apartment occupancy ratios have fallen from 74% at the start of year to 61% in March 2011. Over the quarter, monthly guest arrivals dropped from just under 11,000 to just over 9,000, while average takings per room per night dropped dramatically from $209 in January 2011 – higher than Melbourne – to $163.
This decline reflects the fact regional serviced apartment markets are more heavily reliant on domestic tourism and leisure visitors. However, while in other regional markets in NSW and Queensland serviced apartment guest numbers have declined in line with drops in hotel guest numbers, suggesting a drop in tourism demand is to blame, in western Victoria, hotel occupancy have strengthened over the quarter from 65% to 69%.
This suggests the western Victorian serviced apartment market is weak in its own right.
For the state as a whole, Victoria’s serviced apartment market continues to perform strongly, mirroring Melbourne’s performance over the quarter.
The state’s occupancy ratio stands at 77% in March 2011 compared to 72% at the start of the year and 74% a year ago.
According to research by CBRE, the serviced apartments market is generally 10% more profitable than the hotel market, while yields on serviced apartments averaging between 4% and 5% compared to 3% to 4% for residential investments.
“The unique blend of major hospitality business and strata real estate has produced an investment class that has given opportunity for individual “mum and dad” buyers to enter a sector previously the domain of high-net-worth individuals and institutional investors,” says Ken Smith, CBRE Hotel’s regional director of valuations.
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Melbourne serviced apartments yielding strong returns

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Two of Australia's wealthiest entrepreneurs have bought Gunns woodchip mill on Tasmania's east coast, throwing into doubt the state's forest industry given the buyers’ long-term intentions are to run the site as an eco-tourism venture.
Wotif creator and Australian Greens donor, Graeme Wood, and Kathmandu clothing founder, Jan Cameron, have paid $10 million for the operation. The conservationists stunned the timber industry by outbidding logging company Aprin for the woodchip mill.
Premier Lara Giddings has said the forest industry in the south would have to shut down if the mill was closed.
But Jan Cameron has pledged to keep the mill running in the short term, while the industry moves out of native forest logging.
"Most likely we'll tender the mill out to an operator for this period because obviously we have no experience in running woodchip mills," she told Radio 936 ABC Hobart.
The woodchip mill is among the assets of Gunns which is exiting native forest logging.
In June last year Cameron, who also owns Chickenfeed, bought about 28,000 hectares of native forest from Gunns Limited for conservation.
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jchancellor-FAypfDUnLy

Tasmanian timber turning into tourism after $10m buy

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A-REITs that hold a majority of industrial assets will be better insulated against the impact of the government’s carbon tax scheme while those that own business parks will be worse off, according to a leading analyst.
“Our analysis suggests gross rents could be impacted by between 0.1% at the low end and up to 0.6% at the high end, with industrial property least impacted and business parks most impacted,” says Goldman Sachs analyst Simon Wheatley in a note looking at the impact of the tax.
Impact on gross rent
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="154">
 
</td>
<td valign="top" width="154">
Typical
gross rents
($sqm)
 
</td>
<td valign="top" width="154">
Carbon tax
cost
increase
($/sqm)
 
</td>
<td valign="top" width="154">
Carbon tax
impact on
gross rent
 
</td>
</tr>
<tr>
<td valign="top" width="154">
Office 
</td>
<td valign="top" width="154">
$800 
</td>
<td valign="top" width="154">
$3.06 
</td>
<td valign="top" width="154">
0.4%
</td>
</tr>
<tr>
<td valign="top" width="154">
Retail 
</td>
<td valign="top" width="154">
$1,800 
</td>
<td valign="top" width="154">
$2.86 
</td>
<td valign="top" width="154">
0.2%
</td>
</tr>
<tr>
<td valign="top" width="154">
Business parks 
</td>
<td valign="top" width="154">
$350 
</td>
<td valign="top" width="154">
$2.06 
</td>
<td valign="top" width="154">
0.6%
</td>
</tr>
<tr>
<td valign="top" width="154">
Warehouses 
</td>
<td valign="top" width="154">
$120 
</td>
<td valign="top" width="154">
$0.13 
</td>
<td valign="top" width="154">
0.1%
</td>
</tr>
</tbody></table>
Source: GS&amp;PA Research Estimates
 
Increases will relate to common area energy charges which are typically recoverable from tenants since most leases in the A-REITs sector are net leases.
The cost estimates are based on the assumption that the carbon tax will passed through to commercial property landlords and tenants.
According to Goldman Sachs, some A-REITS such as GPT have already been preparing for a likely carbon tax by focusing on reducing energy intensity costs over the past six years.
“GPT has saved energy costs estimated by GPT at $8.3m, averaging $1.38m per year, which will help soften the blow to tenants of the carbon tax impost, in our view,” the analyst note says.
Goldman Sachs expects investors to prefer prime or A-grade office portfolios such as those managed by Commonwealth Property Office Fund, Dexus and GPT due to the risk that older buildings may see their capex requirements pulled forward as a result of the carbon tax scheme.
The carbon tax is expected to have no discernible impact on asset valuations with slight reductions in net rents offset by higher market-led rents as construction costs increase.
The investment bank has not adjusted any earnings estimates or valuations of A-REITS as a result of the likely carbon tax impact.
The government’s carbon tax scheme, unveiled on July 10, proposes a carbon price of $23 per tonne.
The scheme is due to take effect in July 2013 and will rise at 5% per annum for the initial three years of implementation.
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Industrial to face lesser carbon tax impact than offices: Goldman Sachs

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Chris O’Donnell, the recently departed chief executive of the Dubai-based property developer Nakheel, is suing to seek $US3.7 million (AU$3.49 million) in lost incentives and entitlement fees, according to local court documents.
O'Donnell, who left Nakheel in June after five years, filed the lawsuit with the Dubai World Special Tribunal on June 22, citing a breach of contract, the Al Bawaba website reported.
He wants Nakheel to pay $3 million in long-term incentive payments he says were part of his employment contract, as well as interest on the unpaid incentive payments, worth $180,000.
The lawsuit also asks for payment of $290,850 for damages related to exchange rate losses, $180,000 in interest payments and $231,219 in salary-related claims.
The claim was lodged two weeks after he quit, which followed the conclusion of his contract.
O'Donnell, who earned 3.79 million dirhams ($965,000) a year as chief executive of Nakheel, is also seeking a business class airline ticket from Dubai to Sydney, where he has maintained a Hunters Hill residence, the documents showed.
Nakheel declined to comment on legal proceedings. O'Donnell and his lawyer were not immediately available to comment to Al Bawaba.
O'Donnell oversaw the delivery of the Palm Jumeirah and the man-made archipelago known as The World, but his last three years were spent guiding the company through a post-global financial crisis restructuring.
Nakheel announced O'Donnell's departure with a brief statement wishing him "all the best in his new endeavours".
The company has faced many legal battles as it struggles to finish a $US10.9 billion restructuring.
It has fought back with a series of claims against owners of islands on its world islands development, including one lawsuit against Kleindienst Properties which demands almost $200 million, according to a filing with the special tribunal.
Nakheel recently said it secured approval from 100% of banks and a required majority of trade creditors for its restructuring.
The builder of man-made palm-shaped islands said its restructuring would be completed with the issuance of Islamic bonds to its trade creditors.
Nakheel's potential $1.6 billion Islamic bond was delayed from June to July, two sources familiar with the matter advised Al Bawaba last month.
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Departed Dubai boss seeks air ticket home

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A lack of new development and a drop in owner-occupier activity have pushed prime industrial rents in Melbourne’s west above pre-GFC levels.
Average prime grade industrial rents in the west are now about $70 per square metre, compared with $63 per square metre in 2007, according to latest Colliers data.
For 2011 to date, 131,977 square metres of space has been leased compared with a total of 201,741 square metres leased throughout 2010.
<img src="/images/stories/rentchart-cropped.png">
Recent deals in the area include the Simon de Winter Group, part of the Solomon Lew empire, which has leased 7,340 square metres across at warehouse 7 at 4 Judge Street, Sunshine, for seven years in a deal negotiated by Colliers International’s Stephen Newsham.
The group is relocating from 660 Rathdowne Street, Carlton North, which has been sold and is about to undergo a major redevelopment.
In January 2011, transport and logistics provider Northline signed a six-year 23,000-square-metre lease at 65-76 Strezlecki Avenue in Sunshine at $68 per square metre.
According to Nerida Conisbee, Colliers International national research director, Melbourne west is the only industrial market in the country where the market has bounced to levels above those recorded in 2007.
As a result of the increased demand and lack of development, Conisbee says there are now major opportunities for developers who are in a position to capitalise on the improving conditions.
Nathan Bingham, manager-in-charge of Colliers’ Melbourne West office, says while tenant demand is strong, owner-occupier activity for properties in excess of 5,000 square metres has slowed dramatically and new development has been scarce, which has further contributed to the growth in rents.
“In 2010, there were nine major owner-occupier deals in the west in excess of 5,000 square metres. This year there have been none,” he said.
“This is driven by a lack of supply in the market of buildings that are available for sale, as well as fragile confidence from potential owner-occupiers, and difficulty getting finance,” he says.
Bingham says this is all good news for established private developers looking to undertake new speculative development to capitalise on the improving market conditions.
“In the short term, in the absence of new development, rents are likely to continue increasing this year and given fewer developers can get finance and tenant demand continues to grow, it’s very unlikely that development that does come online in the medium to long term will outstrip demand,” he says.
According to Colliers, the city fringe market remains the most expensive, with rents about $110 per square metre, but well below pre-GFC levels of more than $140 per square metre. Average rents have hardly moved in the last three years.
Melbourne’ s south-east and north industrial markets have also rebounded strongly in 2011. 
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Melbourne west industrial rents soar

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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.
 
While the Sydney serviced apartment market continues to perform strongly, the state’s two biggest regional markets – the Mid-North Coast and Northern Rivers regions – have seen occupancy rates drop sharply in line with declining tourist accommodation demands.
According to latest ABS tourist accommodation statistics, occupancy rates for the Mid-North Coast’s 1,500-room serviced apartment market dropped from a healthy 72% in January 2011 to 62% in March 2011.
The market, which comprises the regional towns of Port Macquarie, Taree, Coffs Harbour, Forster and Kempsey, has fallen in line with a drop in hotel occupancy ratios for the region which are down 10% for the same period to 54%.
Guests are staying for shorter periods – three days instead of four – while average takings per night are down from to $135 from $188 at the start of the year.
It’s a similar story for the Northern Rivers towns of Grafton, Lismore, Tweed Heads and Byron Bay which make up the bulk of the region’s 1,800 rooms.
Occupancy ratios fell from 65% to 53% over the March quarter. At the same time the combined tourist accommodation sector dropped from a 58% occupancy ratio to just over to 53%.
Guest stays are down to two and a half days on average compared with four nights at the start of the year.
According to research by CBRE Hotels, the growth of the serviced apartment market in tourist areas was driven by leisure traveller demands.
In contrast, Sydney, which makes up half of the 12,000-bed strong NSW market, had an occupancy ratio in March 2011 of 88% compared to 85% in January.
Its 6,000 rooms were occupied for 163,000 nights in March, generating average takings per night of $197; slightly down from $199 in January, but up on a year ago when average room takings were $182.
According to research by CBRE Hotels, serviced apartments in regional areas are heavily reliant on domestic travellers, with just 10% of their guests coming from overseas.
In comparison, a quarter of guests in CBD apartments are visiting from overseas.
Online searches revealed very few serviced apartments up for sale in NSW.
The Waldorf Apartment group is current selling a studio serviced apartment in the Parramatta Apartment Hotel at 110-114 James Ruse Drive for $179,000, with guaranteed rent of $260 per week.
Further up on the Central Coast, a two-bedroom apartment at the Entrance Waldorf Apartment Hotel is for sale for $279,000. The Waldorf is offering investors a two-year leaseback option returning 4.5% net per annum on the unit's purchase price.
ABS statistics reveal the Central Coast market declined strongly during the first quarter of 2011, with occupancy ratios falling from 72% in January to 41% in March. However, for the March quarter, the occupancy ratio stands at 54%; higher than 52% recorded in March 2011, suggesting that seasonal factors may play a major role.
Against the backdrop of Sydney’s strong showing, Ken Smith, regional director for CBRE Hotels, tips the serviced apartment market to become a much more dominant force in the Australian market in 2011.
Yields on serviced apartments are between 5% and 6%, compared to between 3% and 4% for residential investment properties, according to CBRE research.
 
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Sydney strong, but regional serviced apartments shedding guests

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The Campbell’s Corner retail premises, Muswellbrook’s original town shopping centre, has sold for $3.2 million. It last sold in 2005 for $3.8 million.
The historic property in the Upper Hunter mining district town has been bought by the local council, which views the site as the ideal location for a regional convention and entertainment centre.
Built in 1870, the site’s current enlarged retail property, with its dramatic tower, was added in 1910 by Walter Barrett, who became the mayor of Muswellbrook in 1915. Mr Barrett was a timber merchant, builder and chairman of Muswellbrook Coal Company for 35 years.
It was in 1862 that Scottish retailing pioneer Malcolm Campbell purchased a Muswellbrook store from John Ferguson. But after the arrival of the railway in 1869, Campbell moved from Sydney Street to Bridge Street, which he judged would become the commercial centre of the town. In 1870 he built a two-storey store and as the business prospered, the building was extended in 1879 and 1891.
The building is on a prominent 6,106-square-metre site with frontage to Bridge and Brook streets, close to the end of the New England Highway.
Its fully-leased income potential is estimated at $640,000, with current tenants including a Franklins supermarket, specialty shops and first floor offices. It has 5,363 square metres of gross net lettable area.
The council says no existing tenant will be dislocated as a result of the acquisition and any redevelopment set to be undertaken.
The council plans a four-stage renovation and extension process, attaching a new auditorium when Franklins moves out. Franklins occupies 1692 square metres on a lease until 2017, with a 10-year option.
“There is no current timeframe for the development of a regional convention and entertainment centre,” a council spokesman said.
“Council is currently going through the process of preparing a concept masterplan in readiness for seeking sources of funding,” he says.
Muswellbrook is a coal mining town and the centre of an important pastoral and dairy area. It boasts three shopping centres: Campbell's Corner; the Muswellbrook Marketplace on Sowerby Street in the north; and the new Muswellbrook Fair along Rutherford Road in the south of the town.
Campbell’s Corner was listed in April last year through CB Richard Ellis agents Steven Lerche and Harry Bui.
In 2008, on its initial listing, more than $6 million was being sought.
On its 2005 purchase through Street Real Estate, investment company Romarx Pty, directed by the Saul family from Sydney’s eastern suburbs, also bought the Singleton Neighbourhood Shopping Centre for $2.7 million. The family company still retains ownership of the Singleton centre.
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Upper Hunter mining town retail gem suffers 15% price slide

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The Eastlakes apartment market, located six kilometres from the Sydney CBD and just a 15-minute drive from Sydney Domestic Airport, has been identified by RP Data as one Australia’s best-value suburbs.
Apartments make up more than two-thirds of the market (69%), with the average median price of $376,500 significantly more affordable than nearby Maroubra ($570,000), Kensington ($540,000) and Botany Bay ($500,000).
<img src="/images/stories/hotspot-eastlake-chart.png">
Sales prices for Eastlakes units have increased by 8% over the past year, according to RP Data, compared to more modest gains in Maroubra and a small drop in values in Kensington.
While Kensington and neighbouring Zetland have seen significant new apartment developments, such as Meriton’s Victoria Square project, there are no new apartment developments currently under way in Eastlakes.
Richard Movsessian from Century21 Coastline Properties is currently selling a 2-bedroom ground floor apartment at 17 Mascot Drive (below) at an advertised price of $397,000.
<img src="/images/stories/hotspot-eastlake1-cropped.png">
The property is advertised as being close to Eastlake's shopping centre, schools, cafes and transport to the CBD.
He tells Property Observer there was a lot of investor interest in Eastlakes just prior to the end of the financial year, but it had recently slowed down.
“First home buyers are back in the market. They are a bit more patient and are only buying a property if it is exactly what they want and [it] ticks every box,” he says.
“Properties priced fairly are selling well.
“Houses are selling slightly above the reserve price at auction while apartments are selling slightly under. There’s more competition for houses than for units,” he says.
Movsessian says the attractions of the suburb are its location – close to the University of NSW and the city – and its multicultural make-up.
According to RP Data, nearly 60% of Eastlake residents were born outside Australia.
Tass Evgeniou from Laing &amp; Simmons Kingsford is selling a two-bedroom unit at 6/6 Barber Avenue (below) aimed at first home buyers, renovators and investors, with a price tag of $370,000-plus.
<img src="/images/stories/hotspot-eastlake2-cropped.png">
He describes the Eastlakes market as very strong, and a good starting point for the eastern suburbs area.
“It’s a good location for investors and first home buyers because prices are more reasonable and still affordable.
“The price range and yields are also attractive,” he says.
Eastlakes is serviced by bus routes providing relatively easy access to the CBD while the Eastern Distributor motorway connects private vehicles to the city.
According to Evgeniou, apartments are selling close to the asking price – with “a little bit of negotiation”.
Eastlakes is already popular with investors, boasting an extremely strong rental market with two-thirds of units rented – more than the rate across Sydney (63%).
According to RP Data, many of the low-set brick complexes built more than 20 years ago which dominate the market present internal renovation potential, which can add value.
“They are also appealing due to the fact they have limited on-site amenity, which typically results in lower body corporate fees,” the RP Data/St George National Hotspots report says.
Phil Manning, senior property adviser at valuer WBP, says Eastlakes’ growth outlook is positive and on par with other suburbs in the region.
Mr Manning says a key attribute is its close proximity to parks and recreational facilities, making it popular with young families.
“A positive driver for Eastlake is the developing ‘food’ precinct in nearby Alexandria, which will provide attractive amenity for the local area,” he says.
“However, the finite number of unit housing in Eastlake could prove an inhibiting factor for the suburb in future as growing affordability issues direct people into smaller, more affordable dwellings. However, this is likely to be a positive for growth in existing unit stock.”
Besides the location and transport benefits, Mr Manning says Eastlakes also offers access to primary and secondary schools both in the suburb and surrounding areas.
According to the RP Data/St.George report, the most desirable areas are likely to be near public transport and shopping amenities.
“Complexes located adjacent to the large parklands are also likely to experience stronger demand,” the report says.
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Price and proximity make Eastlakes a hotspot

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The Australian Tax Office has warned against schemes that seek to make interest payments on home loans tax deductable.
The draft determination relates to a taxpayer with separate loans for at least two properties – residential and investment – with a line of credit.
The line of credit is then drawn down to pay the interest on the investment loan as it falls due, and where no repayments are required the taxpayer does not make any repayment, which results in the interest on the line of credit being capitalised and compounded.
The ATO says without the line of credit, the taxpayer would have made interest payments with cash.
“A key feature of the investment loan interest payment arrangement is the use of the line of credit to pay the interest on the investment loan. This results in interest on the investment loan, in effect, being capitalised and thus its payment deferred in order to enable the taxpayer(s) to repay an equivalent amount on the home loan.
“Therefore, the real effect and substance of the investment loan interest payment arrangement is to purportedly make the payment of interest on the capital sum paid in reduction of the home loan tax deductible."
The draft determination says it is “open for a reasonable person to conclude … that one or more of the parties that entered into or carried out the scheme did so for the dominant purpose of enabling the taxpayer(s) to obtain a tax benefit in connection with the scheme".
“If such a conclusion is reached, Part IVA applies to the scheme and the Commissioner would be entitled to determine … that any deduction for the relevant interest incurred on the line of credit shall not be allowable to the taxpayer(s).”
Gavan Ord, business policy adviser CPA Australia, says the intent of the scheme is to get a tax deduction on your home loan – and that’s precisely what the ATO doesn’t want.
While expressing surprise that the issue has reared its head again, Ord says the ATO has “obviously seen something, and it’s quite clear it’s something they don’t accept.” 
“Somehow the issue’s come back up, and people seem to be offering the product and probably making a risk-assessment to put it out there to see whether the ATO will act.
“And they’re finding the ATO is now acting.
“For those that are doing it, and those that are offering, they need to clarify the tax benefits.”
Ord urges individuals to speak to their accountant first before entering into a similar scheme, adding a lot of them come up at the end of the financial year.
Those that sign up for the scheme are expected to have their deduction claim rejected, and be subject to penalties if they are found to have paid insufficient tax.
Likewise, businesses promoting this scheme could be subject to ATO’s promoter penalty regime, which contains very large fines for the company and its directors, Ord says.
Gerald Foley, managing director of National Mortgage Brokers, was also surprised.
“I haven’t heard of anyone writing these loans for years,” Foley says.
“It seemed as though a small number jumped on the structure and fought a good fight to get it ticked off by the tax office.
“As I recall, it wasn’t success.”
This article first appeared on <a href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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