ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

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Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

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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One of Australia's premier municipalities, the City of Stonnington comprises Melbourne's inner-south-eastern suburbs. 

Known for its leafy streets and good schools, the region also has beautiful new properties entering the market for luxury buyers. 

Stonnington suburbs have a long history of outperforming the average capital growth in Melbourne, according to Michael Yardney.

Urban takes a look at three luxury properties with three-bedrooms for families, downsizers and investors.

1. Hurstmon, Malvern East 
Address: 3 Hurstmon Street, Malvern East VIC 3145 
Three-bedroom apartments from $1,599,500

[smartcode_project:default project_id=4807]

Delivered by Landream, Hurstmon boasts 39 residences in two and three-bedroom configurations in Malvern East.

The development, designed by Telha Clarke, delivers a restrained design to transition between the commercial building and two-storey brick homes that border it.

Each residence includes double-glazing, ducted heating and a butler’s pantry, with floorplans responsive to changes and requests from homebuyers.

Handcrafted lighting by Richmond-based studio Articolo also features in the project’s foyer.

2. 661 Chapel Street, South Yarra 
Address: 661 Chapel Street, South Yarra VIC 3141 
Three-bedroom apartments from $1,841,000

[smartcode_project:default project_id=600]

Located just three-kilometres south-east of the Melbourne CBD, 661 <a href="/buildings/661-chapel-street-661-chapel-street-south-yarra">Chapel Street</a> provides investors with great opportunities to capitalise on high-income professionals who are renting in Melbourne.

Among its 116 one, two, three and four-bedroom apartments, the development features extensive hotel-inspired resident amenity.

A four-level private lobby, 25-metre pool, grand library and winter garden are among the numerous features available to residents.

The project is delivered by Gamuda Land and designed by local architecture firm Bird de le Coeur.

3. 107 Darling Street, Malvern East 
Address: 107 Darling Street, Malvern East VIC 3145 
Three-bedroom townhomes from $1,750,000

[smartcode_project:default project_id=29921]

107 Darling Street is a boutique development of just nine three-bedroom townhomes in Melbourne’s Malvern East.

The homes feature lofty ceilings, full-height glass doors and open-plan kitchens.

Inspired by Malvern’s verdant streetscape, the contemporary homes feature plenty of outdoor space, including terraces, balconies and courtyards, perfect for entertaining.
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One of Australia's premier municipalities, Stonnington has beautiful new properties entering the market for luxury buyers

max.kwok_55688

Three luxury three-bedroom residences on the market in Melbourne’s Stonnington 

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The Melbourne Cup-winning jockey Mick Dittman has committed to buying an apartment in the $2.3bn Imperial Square development in Southport. 

Dittman made the decision after being asked to become an ambassador for the mixed-used project.

The project includes the southern hemisphere’s tallest tower, and a 45-storey “twister” tower.

[smartcode_project:default project_id=29350]

It has been popular with locals who have made up 50 per cent of sales in the development's first stage.

The $155 million Regal Residences has secured $34 million in sales, with the developer, Azurra Investments, securing 53 sales of the 145 apartments by last month, and now sees commitments to more than half.

Azzurra is headed by Robert Badalotti.

Architect Kris Kowalski has worked on the project for five years.

The Gold Coast Bulletin reported in January that the developer, Azzura Investments, was set to fast-track construction commencement before June.

Sales director Jason Paris indicated buyers who work in the Health and Knowledge precinct at Griffith University and the Gold Coast Hospital see the opportunity to buy with work and lifestyle options.

Paris said apartments are selling for an average of $6000 a square metre, with prices for a one-bedroom apartment starting at $359,000, rising to $745,000 for three bedrooms.

The projects shared amenities include a rooftop pool terrace, a sauna, spa, steam room, gym, a barbecue terrace, dining area and executive lounge.

<a href="/new-apartments/regal-residences-imperial-square-59-73-meron-street-southport" target="_blank"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/imperial_square_tall.jpg" style="width: 950px; height: 1692px;"></a>

Imperial Square is located on a 1.34ha site bounded by Ferry Road, Meron Street and Gillian Lane.

It will have three landmark towers on completion, including the 108-storey Imperial Tower and the 54-level Monarch Place.

In 2018 Dittman sold his purpose-built horse stable complex on the Gold Coast for $2.5 million.

The 3001-square-metre Racecourse Drive, Bundall facility was part-owned by Dittman, who was listed in the Australian Racing Hall of Fame in 2002.
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Queenslander Mick Dittman has committed to buying an apartment in the southern hemisphere’s tallest tower project

jchancellor

Jockey legend Mick Dittman secures off the plan apartment in Southport's Imperial Square 

Auburn Square is the latest development from Tian An in Sydney&rsquo;s west, receiving development approval for six mixed-use buildings.

Comprising a total 427 residences in one, two and three-bedroom configurations, the apartments will include nine retail and commercial suites as well as numerous amenities.

[smartcode_project:default project_id=7317]

Designed by acclaimed architects Rothelowman, each apartment has been designed for day-to-day liveability with high-end finishes and premium inclusions.

Auburn Square apartments feature open concept living and dining areas, offering an overall sense of space.

<a href="/buildings/auburn-square-26-36-northumberland-road-auburn"><img alt="" height="2059" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/auburn-square-26-36-northumberland-road-auburn-fc1da8c6dd1b19c37a402bb0fddd771f.jpg" width="3500" /></a>

The design focus was on increasing natural light through apartment orientation, tiled flooring and deep balconies.

&ldquo;Large format floor tiling in neutral colours provides a seamless transition from the kitchen through to the living area and out onto the balcony or terrace&rdquo;, the project marketing reads.

The project&rsquo;s landscape design has been developed as an integral part of the project.

Designed by Ground Ink, 2,000 sqm of green space will be featured to provide common areas between buildings and a high level of amenity for occupants and local residents.

<a href="/buildings/auburn-square-26-36-northumberland-road-auburn"><img alt="" height="2059" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/auburn-square-26-36-northumberland-road-auburn-f346b84fc7a9a0425ab7ab67f5997758_0.jpg" width="3500" /></a>

Homebuyers will also rejoice at communal spaces on the first-floor podium and on the rooftop terrace.

Communal dining areas, custom-built bench seating, planter beds, barbeque facilities, an outdoor cinema and exercise equipment will feature across the two resident areas. 
&nbsp;

<h2>Finishes</h2>

Residents at Auburn Square can select between two colour schemes for either a predominantly light or contrasting finish which carries into the bathrooms, cabinetry and flooring.

These colour schemes will run through the whole apartment, according to the project marketing, &ldquo;including a stylish feature wall that sets the tone for your living, dining, and kitchen spaces.&rdquo;

You can view the finishes below

Light Scheme

<img alt="" height="212" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2021-04-15_at_6.14.04_pm.png" width="838" />

Contrasting&nbsp;Scheme

<img alt="" height="212" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2021-04-15_at_6.14.17_pm.png" width="838" />

1. Kitchen benchtop and splashback 
2. Kitchen joinery &ndash; feature shelf 
3. Kitchen joinery &ndash; island bench 
4. Kitchen/ bathroom joinery 
5. Floor tile 
6. Bathroom wall tiles 
7. Bathroom feature tiles 
8. Bedroom carpet

Designed by acclaimed architects Rothelowman, each apartment has been designed for day-to-day liveability with high-end finishes and premium inclusions.



The design features we love about the Auburn Square homes

New South Wales investors have been on red alert since the launch of Miles Residences on the Gold Coast&#39;s Kirra Beach late last year.

Miles Residences, the apartment component of the luxury $180 million redevelopment of the Kirra Beach Hotel, are offering investors strong yields in one of the most sought-after locations in the country at the moment, with many forecasting the demand to continue for years to come.

The development of 118 apartments, which will sit above the new pub pavilion, is being developed by the Peggy Flannery-led KTQ Group, who are behind the award-winning Elements of Byron.

The affordable entry point has Sydneysiders considering an investment bolthole intrastate, with the option of taking a holiday or moving to the area permanently upon retirement.

[smartcode_project:default project_id=27575]

KTQ have calculated solid net rental yields for investors based on a 75 per cent occupancy rate, which doesn&#39;t account for higher demand and peak rates over summer, school holidays and in particular Christmas.

The Real Estate Institute of Queensland predicts the relaxation of border restrictions will make it even harder to find a rental property on the Gold Coast. In November, the vacancy rate was 1.6 percent. Vacancy rates are predicted to remain as tight in 2021.

And Mark Smith from PRDnationwide Burleigh Heads, reckons the Gold Coast is very attractive, especially for investors.

&quot;Even with our market gaining and theirs falling, we still have a long way to go before we reach the level of unaffordability experienced in Sydney and Melbourne.&rdquo;

<h2>Sea Apartments</h2>

The Sea Apartment collection of Miles Residences, facing the beach, start from $545,000, considerably below Sydney&#39;s median apartment price of $755,360.

The one bedroom Sea Apartment, with an occupancy rate of just under 75 per cent for a calendar year, will offer investor owners a return of 6.7 per cent.

Based on an average daily rate of $220, the 82 sqm apartment will yield $1,157 a week and over $60,000 a year.

<a href="/buildings/miles-kirra-beach-hotel-101-musgrave-street-coolangatta"><img alt="" height="896" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/miles_kirra_views_1.jpg" width="1200" /></a>

After the property management fees such as body corp, letting management fees and council rates, investors are likely to secure a net return of five per cent, just under $30,000.

There&#39;s the same net return on offer for a two bedroom Sea Apartment, which would warrant a $275 daily rate, $1,447 a week and over $75,000 a year.

With the same occupancy rate of 75 per cent, an investor would see a net return of over $39,000, a five per cent net return.&nbsp;

The two bedroom Sea apartments, with an internal area of 91 sqm and 33 sqm external, are priced from $795,000.

<h2>Stone Apartments</h2>

The larger Stone Apartments are forecast to see a net return of four per cent if a 75 per cent occupancy is achieved.

The two bedroom apartments with multi-purpose room, priced from $1.13 million, are set to command an average daily rate of $330, which would mean $1,736 a week and over $90,000 a year.

<a href="/buildings/miles-kirra-beach-hotel-101-musgrave-street-coolangatta"><img alt="" height="900" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kirra_point_miles_residences_pool_1.jpg" width="1600" /></a>

The apartments, spanning 106 sqm of internal living space and 18 sqm external area, would see a net return after fees of $50,665 per annum.

The three bedroom stone apartments with 132 sqm of internal area and 28 sqm of balconies could see investors pocket over $61,000 in net income.

Those apartments are forecast to fetch $385 a day, over $2,000 a week or $105,366 a year.

To find out more, <a href="/buildings/miles-kirra-beach-hotel-101-musgrave-street-coolangatta">click here</a>.

&nbsp;

The development of 118 apartments is being developed by the KTQ Group, who are behind the award-winning Elements of Byron.



Why New South Wales investors are eyeing Kirra’s Miles Residences

The local&nbsp;Gold Coast developer Sherpa Property Group are the latest to benefit from the continued Gold Coast apartment boom.

They&#39;ve secured a sell-out at their $35 million Palm Beach apartment development Perspective 488 within just three months of its early 2021 launch.

Buyers snapped up the seven full floor apartments, which sold for more than $3 million each, as well as the beach homes which fetched between $4.1 million and $4.5 million.

Named after its location at 488 The Esplanade, Perspective 488 was popular among local buyers looking to upgrade. Only one interstate buyer managed to grab a key.

<a href="/buildings/perspective-488"><img alt="" height="1131" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/perspective_beach_houses.jpg" width="1600" /></a>

Sherpa, led by former real estate agent Christie Leet, are now plotting a sister development on an adjacent site at Twenty Seventh Avenue, with plans expected to be released later this month.

&ldquo;We&rsquo;ve been blown away by the response to Perspective 488, which is encouraging as we prepare for our newest development,&rdquo; Leet said.

&ldquo;From the outset we took an innovative approach to the Perspective 488 site to ensure it blended perfectly with the laid-back lifestyle Palm Beach is known for. It&rsquo;s especially rewarding for the Sherpa team to know that our vision has been so warmly received by our buyers and in particular by locals.&rdquo;

About the developer

Christie Leet, formerly principal of PRD Whitsundays, is a property industry veteran, with an eye for lifestyle buyers. He timed his entry to the Gold Coast market perfectly three years ago by acquiring prime development sites at Palm Beach to Cabarita.

&ldquo;It was evident to me at the time that local buyers had an appetite for a unique style of development that combined a bespoke design with an unparalleled location &ndash; a recipe that defines the ultimate in coastal living,&rdquo; said Mr Leet.

&ldquo;We&rsquo;re pleased with the success of Perspective 488 and look forward to bringing another unique offering in this pocket of paradise.&rdquo;

Sherpa has an extensive history of successful developments in the Whitsundays and Funnel Bay apartment and land sub-division.

<h2>Other developments for sale on the Gold Coast</h2>

Shoreline, Surfers Paradise

[smartcode_project:default project_id=22057]

Shoreline is the latest Surfers Paradise tower to be created by Marquee Development Partners.

The boutique 27 apartment development across 17 levels offers residents a luxury unseen in the between Surfers Paradise and Broadbeach for a number of years.

Miles Residences, Kirra Beach

[smartcode_project:default project_id=27575]

The Miles Residences Kirra Point will be one of Kirra Point&#39;s most impressive towers when it&#39;s completed in 2023.

The development of 118 apartments is part of the redevelopment of the&nbsp;Kirra Beach&nbsp;Hotel. The brains behind the operation is the family-ran KTQ Group, led by Peggy Flannery, who are behind the award-winning Elements of Byron Bay.

Sherpa, led by former real estate agent Christie Leet, are now plotting a sister development on an adjacent site at Twenty Seventh Avenue

Sherpa sell out Palm Beach residential development Perspective 488 in three months

<html><body>The extension of updated NSW’s short-term letting rules has been delayed.

The rules were proposed by Planning and Public Spaces Minister Rob Stokes to start from July.

They involved the extension of the 180-nights-a-year cap for unattended holiday lettings from within the greater Sydney area into regional and holiday hotspots.

The 180-day cap dated back to 2018, when the NSW government announced it would cap the use of Airbnb/Stayz-style lettings to control rental affordability and to give respite to neighbours from party homes.

The rule has applied only applied to greater Sydney, with regional councils initially set to impose their own caps.

The extension proposed in locations such as Newcastle, Bega, Dubbo and Ballina would see absentee landlords be allowed to rent out their homes for only up to 180 nights a year. 

The Byron Shire would face the restriction from 31 January 2022.

The rules will allow people living in an apartment or house to rent out a part of their home for 365 days a year.

After suggesting the new rules were “simple”, Stokes has announced that “in the interest of conciliation, and to give the policy the best chance to succeed, we’re happy to extend the date for implementation to November 1.” 

Stayz corporate affairs director Eacham Curry noted the NSW tourism industry was only starting to bounce back after a months dominated by COVID-19 and bushfires.

“The expansion of night caps to further regions is a blow to the tourist economy, and the NSW government should rethink their approach in the face of an uncertain outlook for tourism,” Curry said.

But Stokes said the industry should have been prepared for the implementation of the new rules.

“I maintain that the introduction of the policy should not come as a surprise, as we have been working with industry and councils on short-term rental accommodation since 2017.”</body></html>

The extension of short term rental limits in NSW has been delayed by three months to November 1.

NSW delays extension of short term accomodation rules into the regions

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A South Yarra triplex has been listed for sale in one line.

The Marne Street comes with a $11.5 million to $12.5 million price guide.

It is for sale through Kay &amp; Burton agent Peter Kudelka who said it was a rare chance to secure a whole block of apartments in the heart of the Botanic Gardens precinct.

Offers are due 12 May.

The marketing seeks buyers who will either iInvest or re-develop.

Its land size is 885 sqm.

Apartment three, a rear one bedroom garden apartment, was up for rent at $350 a week last June.

Apartment one was last advertised in 2012 at $1500 a week.

[smartcode_project:default project_id=600]

South Yarra has a $620,000 median price for units that rent for $410 PW with a rental yield of 3.4%. 

Based on five years of sales, South Yarra has seen a compound growth rate of 0.7% for units, according to realestate.com.au.
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The Marne Street, South Yarra block comes with a $11.5 million to $12.5 million price guide

South Yarra triplex listed with $12.5 million hopes

Demand for apartments&nbsp;is not letting up on the Sunshine Coast.

Cube Developments, led by veteran developer Scott Juniper, have secured a sell out of their $27 million apartment&nbsp;project One Prosperity in the small waterfront suburb of Birtinya, and are soon to sell all of the apartments in their boutique Mooloolaba project Picasso.

Picasso saw high demand from investors from Sydney and Melbourne, and Juniper says the trend, which he&#39;s seen across the whole of the portfolio,&nbsp;isn&#39;t slowing down.

[smartcode_project:default project_id=29372]

&quot;The demand on the Sunshine Coast has been exceptional,&quot; Juniper says.

&quot;We had a much higher increase in both investor demand and owner occupier demand from Melbourne and Sydney,&quot; Juniper says, adding that there are still high number of owner-occupiers moving from the southern states to the Sunshine Coast.

&quot;People are still not tied to the city, there&#39;s been no change to that&quot;, Juniper says.

<img alt="" height="770" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cube_2.jpg" width="2228" /> 
Cube&#39;s sell-out One Prosperity development. Image supplied 
 
Investors are still keen from Sydney and Melbourne, with the vacancy rate holding firm at record lows of around 0.5 per cent.

Cube&#39;s latest offering is Seasons by Cube, which Juniper says is a much more budget conscious apartment development in Birtinya.

The majority of stock in the development of 146 apartments is under $600,000, with it focused on bringing an affordable product to the market.

<img alt="" height="884" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/seasons_by_cube.jpg" width="1486" /> 
Seasons by Cube, designed by Cottee Parker. Image supplied

Prices start from $495,000.

Cube only have a handful of apartments left at another one of their Birtinya developments, Curve, which is set for completion in July.

&quot;There are quite a few people in the market looking to move immediately, reflected by the area&#39;s very low vacancy rate&quot;, Juniper suggests, adding that that gives Curve an advantage in the current market that the product will be available to move in in just a few months.

Cube have their&nbsp;premium product,&nbsp;Nature at Cotton Tree in Maroochydore, overlooking&nbsp;Rotary Park and the Maroochy River.

Juniper told Cottee Parker Architects to deliver&nbsp;the best the Sunshine Coast has ever seen.&nbsp;

<a href="/buildings/nature-by-cube-maroochydore"><img alt="" height="700" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/nature_juniper.jpg" width="733" /></a> 
The luxury Nature development. Image supplied

&quot;Nature allowed me to do some things you couldn&#39;t do in other developments&quot;, Juniper says of the boutique 13 apartment development. The ground floor is dedicated tp communal space and facilities&nbsp;including a 25-metre lap pool, gym, steam room and sauna and&nbsp;yoga studio, as well as barbecue areas and a private dining area.

Cube are also in the planning stages of one of their best projects to date in Alexandra Headland.

Cube's latest offering is Seasons by Cube, which Juniper says is a much more budget conscious apartment development in Birtinya



Sunshine Coast apartment demand continues as Cube sell-out one development, launch another

Queer visibility in the workplace remains just as necessary as it was ten years ago to normalise LGBTQI+ leaders as corporate role models that young people can look up to.&nbsp;

Only 21 per cent of LGBTQI+ leaders are &lsquo;out&rsquo; to the whole of their organisation, according to global data from <a href="https://www.accenture.com/us-en/blogs/accenture-research/the-surprising-reasons-most-lgbt-people-are-not-out-at-work" target="_blank">Accenture Research</a>.

But visible &lsquo;out and proud&rsquo; leaders provide a path for others to follow, with over 70 per cent of queer professionals claiming that these role models help&nbsp;them to thrive.&nbsp;

Broader conversations about equality and representation have been a catalyst for more inclusive practices in the workplace. However, the property industry is indeed lagging behind.&nbsp;

&ldquo;Unless LGBTQI+ people see people like them having successful careers in property and construction they&rsquo;ll look elsewhere,&rdquo; said Lendlease special projects executive Aaron Spicer.

Urban sits down with four change-makers transforming the face of the property industry to discuss the importance of queer visibility, the targets currently in place and what&rsquo;s next for the property industry. 
&nbsp;

<h2>Who are they?</h2>

<hr />
&nbsp;

<figure class="align-right "><img alt="" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/untitled_design.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" srcset="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/untitled_design.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=1 600w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/untitled_design.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=2 1200w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/untitled_design.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=3 1800w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/untitled_design.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=1 754w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/untitled_design.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=2 1508w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/untitled_design.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=3 2262w" />
<figcaption>Michael Vavakis</figcaption>
</figure>

Michael Vavakis, Chief Operating Officer &ndash; Europe, Lendlease: Michael has worked in Human Resources roles for over 25 years at Hewlett-Packard and Lendlease. Formerly the Lendlease Australia CPO, Michael played pivotal roles in implementing initiatives to build a true culture of inclusiveness, where diverse employees are not only represented but truly engaged and integrated into their workplace. These include the Property Male Champions of Change collaboration.

&nbsp;

<hr />
&nbsp;

<figure class="align-left "><img alt="" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" srcset="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=1 600w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_copy.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=2 1200w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_copy.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=3 1800w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=1 754w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_copy.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=2 1508w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_copy.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=3 2262w" />
<figcaption>Meg Patten</figcaption>
</figure>

Meg Patten, Marketing Manager, Riverlee | Co-Founder, Queers in Property: Current Chairperson and Co-Founder of Queers in Property, an independent network connecting LGBTIQ+ people in the property industry, Meg has sought to foster safe spaces and empower the community. They also sit on the Property Council of Australia&rsquo;s diversity and inclusion committee.&nbsp;

&nbsp;

<hr />
&nbsp;

<figure class="align-right "><img alt="" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" srcset="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=1 600w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_copy.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=2 1200w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_copy.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=3 1800w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=1 754w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_copy.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=2 1508w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_copy.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=3 2262w" />
<figcaption>Aaron Spicer</figcaption>
</figure>

Aaron Spicer, Special Projects Executive, Lendlease: Aaron has been very involved in progressing LGBTQ+ inclusion at Lendlease and more broadly in the property sector over the last few years. Aaron is the present Chair of the Lendlease Pride Network, where he has driven numerous strategies that helped the company to be recognised in the Australian Workplace Equality Index (AWEI) Awards. Lendlease was named a Platinum Employer at the 2020 Australian LGBTQ Inclusion Awards.

&nbsp;

<hr />
&nbsp;

<figure class="align-left "><img alt="" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" srcset="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=1 600w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_copy.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=2 1200w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_copy.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=3 1800w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=1 754w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_copy.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=2 1508w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_copy.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=3 2262w" />
<figcaption>Marcus Skeggs</figcaption>
</figure>

Marcus Skeggs, Account Manager, DisplaySweet | Board Member, Queers in Property: Marcus is a committee member on the Diversity and Inclusion Committee for the Urban Development Institute of Australia (UDIA) NSW, and is the Chair of their subcommittee for diversity, inclusion, and leadership. Marcus also sits on the Queers in Property board, alongside Meg.

&nbsp;

<hr />
&nbsp;

<h2>Why visibility makes all the difference</h2>

Young queer people want to know they can be themselves at work and that being LGBTQI+ will not hold back their careers.

According to a <a href="https://offers.indeed.com/AU_en_081820_DIReport_CON-EBOOK_CM" target="_blank">2020 report by Indeed</a>, 61 per cent of LGBTQI+ Australian workers say they either some or all of the time feel the need to hide their sexual orientation at work.

For over half of all LGBTQI+ employees to hide this part of their identity points to an underlying fear of stigmatisation &ndash; that perhaps there is a price to pay for being openly queer. Many workers hold a&nbsp;<a href="https://everfi.com/blog/workplace-training/lgbt-workplace-issues-hide-their-identity/" target="_blank">persistent feeling of being unwelcome</a>, while others remain &#39;closeted&#39; due to&nbsp;<a href="https://theconversation.com/coming-out-at-work-is-not-a-one-off-event-101118" target="_blank">legitimate career risks</a>, including fewer job opportunities and fears of discrimination.

This is why visibility plays such an important role in breaking down these fears and stigmas, allowing employees to feel more comfortable to bring their whole self to their workplace.&nbsp;

<img alt="" height="3648" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shutterstock_1177679803.jpg" width="5472" />

As for Riverlee&rsquo;s marketing manager Meg Patten, seeing others gave them the courage to be an &ldquo;out and proud, non-binary lesbian in the workplace.&rdquo;

&ldquo;Visibility has the power to inspire and cultivate change within the property industry which is known to be male-dominated and heteronormative&rdquo;, they said.&nbsp;

<blockquote>
&ldquo;There is nothing more empowering than seeing another LGBTQI+ person letting their individuality shine.&rdquo;
</blockquote>

DisplaySweet&rsquo;s Marcus Skeggs echoed this sentiment, &ldquo;Visibility equals empowerment,&rdquo; he said.&nbsp;

Feeling hopeful that the industry has moved beyond &ldquo;having a conversation&rdquo;, Skeggs has started to see real change and action, including support for Sydney Gay and Lesbian Mardi Gras from development groups by gong rainbow for the festival,&nbsp;and diversity and inclusion training for workplaces.&nbsp;

&ldquo;I would like to see this happen more often and workplaces start to celebrate significant days for the LGBTQIA+ community, like Wear it Purple Day for example where we celebrate our rainbow youth.&rdquo;&nbsp;

&ldquo;It&rsquo;s important we keep the momentum going&rdquo;, he concluded.&nbsp;

[smartcode_project:default project_id=27728]

With industry initiatives like Pride in Diversity, <a href="http://www.interbuild.online" target="_blank">InterBuild</a> and <a href="https://queersinproperty.com.au/" target="_blank">Queers in Property</a>, it is likely we will continue seeing this push for action.

Executives who embrace these initiatives can become more successful leaders and boost the empathy, efficiency, and productivity of their organisations. 
&nbsp;

<h2>The blue-collar identity gap</h2>

While &ldquo;good progress&rdquo; is being made in corporate office roles, more work needs to be done on site-based roles, Spicer said.

Within the construction industry, homophobia was more present than on average, reported <a href="https://www.pwc.com.au/publications/pdf/pwc-workplace-inclusion-report-sep17.pdf" target="_blank">PwC&rsquo;s GLEE team</a>.

<blockquote>
75 per cent of respondents indicated&nbsp;they had observed homophobia, compared to 56 per cent in other sectors.&nbsp;
</blockquote>

&ldquo;The initial focus has been on corporate [and] white-collar environments and much more needs to be done here, but we also need to consider regional, site and blue-collar workforces.&rdquo;&nbsp;

&ldquo;Given the subcontract nature of those environments we can only create truly inclusive workplaces if the industry works together to achieve a base level of expectations and behaviours&rdquo;, he added.

However, Patten, despite co-founding Queers in Property, still feels like they are always learning about how to tackle this issue. It&rsquo;s all a learning curve.&nbsp;

&ldquo;People don&rsquo;t generally understand what they can&rsquo;t see which reinforces how important visibility is&rdquo;, they noted.&nbsp;

Executives and diversity and inclusion teams can follow Patten&rsquo;s lead in adapting initiatives to be &ldquo;as inclusive as possible.&rdquo;

The young change-maker immerses themselves in the community and listens to stories to help drive the change the industry needs.

Chief operating officer at Lendlease, Michael Vavakis adds: &ldquo;Conversation, role models, product design, calling out positive and negative behaviours [&hellip;] is really what creates an inclusive environment and each of these things needs to be relentlessly pursued.&rdquo;

Lendlease is similarly working to increase its focus on inclusion, partnering with UNSW to research the barriers to LGBTQI+ inclusion on construction sites.&nbsp;

&ldquo;We look forward to sharing the results of that research and recommendations for the industry to address later in the year&rdquo;, Spicer said.&nbsp; 
&nbsp;

<h2>Building inclusivity into communities&nbsp;</h2>

According to Vavakis, it is not only employees that developers and industry associations should be helping, but homeowners too.&nbsp;

&ldquo;Outside of all the activities we are doing to create inclusive workplaces, I believe that this point about designing and creating and building with inclusivity in mind is a unique proposition that has only begun to be explored in the property industry.&rdquo;

<blockquote>
&ldquo;[This] is something unique that the property industry can contribute. That is how do we design, create and build places that reflect the importance of inclusiveness and the sometimes uniqueness of the LGBTQI+ community&rdquo;, he said.&nbsp;
</blockquote>

Patten echoed: &ldquo;We have so much influence on the built environment, we need to understand how we can create LGBTQI+ friendly spaces for people as well.&rdquo;

Although it&rsquo;s unlikely we&rsquo;ll be seeing queer design hitting residential projects in the mainstream anytime soon, dialogue about inclusiveness and community-making should continue across the property industry.&nbsp;

&quot;Diversity is more than a box ticking exercise, it&#39;s about creating meaningful change to ensure the homes that we&#39;re building meet the needs of the communities we serve&quot;, said Apartments.com.au CEO Mike Bird.

For Spicer, this might include discussions on&nbsp;the &ldquo;bigger picture,&rdquo; such as &ldquo;are the placemaking needs of our community different and how are they likely to evolve.&rdquo;

&ldquo;Inclusiveness does need more of a conversation across the property industry and [I] think it is starting to happen.&rdquo;

[smartcode_project:default project_id=29358]

Urban sits down with four change-makers transforming the face of the property industry to discuss the importance of queer visibility

LGBTQI+ Leader Series: Four change-makers transforming the face of property

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Developers are reportedly keenly vieing for the 63 Exhibition St, Melbourne apartment project.

The 52 storey proposal dates from before the introduction of stricter Melbourne CBD planning rules, having been granted with a generous plot ratio of 33:1.

The vendor was nominated as the Tarascio family owned Salta Properties.

It was reported in 2015 that Salta had teamed with joint venture partner Malayisa's Asia One to acquire and develop the site having been independently acquired by Asia One for $37.5 million in 2014.

<img alt="" height="896" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/exhibition_2.jpg" width="1200">

They initially sought approval for a 64-level high-rise apartment and hotel tower, replacing the 6132 sqm floorspace, formerly known as ASF House or Citicorp House, which was constructed in 1969.

The bidding interest in recent weeks has been through JLL which was appointed to broker the sale of the property at the end of last year.

The Financial Review reports bids in the final four have come from parties, including Gurner and also the private developer Goldfields. There is also a foreign developer in the final four.

The 13 storey Melbourne CBD office block on an 894 sqm holding has planning approval for a 52-storey apartment and hotel complex.

JLL marketed it as an "never to be repeated permit approval for a 52 level luxury hotel and residential tower with 225 keys and 42 apartments."

It advised it would appeal as an international benchmark luxury hotel and branded residences opportunity.

The bids sit about $80 million, which was the price guide on its listing last December.
</body></html>

The proposal, known as EAST SIXTY THREE dates from before the introduction of stricter Melbourne CBD planning rules, having been granted with a generous plot ratio of 33:1

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