<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Joel Robinson

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Newstead apartment boom continues with Longland Street tower plans

ALAND has taken the next major step in delivering its vision for Leppington Town Centre, lodging State Significant Development plans for a $549 million residential precinct that would bring more than 1,200 new homes within walking distance of Leppington Station.

The proposal, now on public exhibition, forms the Residential Core Precinct of the broader Leppington Town Centre masterplan and would transform a 4.3-hectare site at <a href="https://www.apartments.com.au/new-apartments/156-166-rickard-road-leppington-nsw-2179">156-166 Rickard Road</a> into a high-density mixed-use neighbourhood comprising nine residential buildings rising between six and 25 storeys.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="fc20982d-a0a9-4989-8fb3-680ca9fdcd10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.44%E2%80%AFAM.png?VersionId=l5EEyS6Dkf_SLDQkwDeyAU2nXkSZP2RW" />

The development has been designed by Rothelowman and is being pursued through a State Significant Development Application alongside a concurrent rezoning request under the NSW Government's Housing Delivery Authority pathway.

If approved, the project would deliver 1,206 dwellings, including 784 build-to-sell apartments, 208 build-to-rent apartments, 189 affordable housing units and a nine-storey serviced apartment building containing 112 rooms. The proposal also includes around 7,400 sqm of non-residential floor space, new public open space, communal recreation areas and a new internal street network.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="c4f80d3b-cb05-4068-8a87-808317807a99" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.36%E2%80%AFAM.png?VersionId=KfPqh1JBuxc53IWntEzGHAeBaCLmRmum" />

<h2 data-end="1990" data-section-id="s6350" data-start="1941">A key piece of Leppington's future town centre</h2>

The site sits around 250 metres from Leppington Station, which opened in 2015 as the terminus of the South West Rail Link and has long been earmarked as the catalyst for the suburb's transformation from a rural fringe location into a major strategic centre for Western Sydney.

Leppington has become increasingly important following the announcement of the Western Sydney International Airport and the emergence of Bradfield City Centre, with government planning identifying the precinct as a significant location for future housing and employment growth.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="8ca0f098-affc-48c0-80d3-468ea090a20c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.26%E2%80%AFAM.png?VersionId=o3mwgBFT6H9YUllI0JR.JfLsUYQy1CTa" />

According to Rothelowman, the proposal responds directly to Leppington's unique position between its agricultural past and its urban future.

"The site offers an opportunity to weave together multiple layers of history, from its ancient connections to Country along the ridgeline between two waterways and its origins as part of the Cumberland woodland, to its more recent agricultural uses, and its future as a new residential community," the architects said in the design report.

The architects said the project aims to establish a high-density residential typology that combines apartment living with extensive landscaping and public open space.

"The design responds by establishing a high-density typology that combines the convenience and amenity of contemporary apartment living with a renewed native landscape."

<h2 data-end="3541" data-section-id="1ko88s2" data-start="3485">Nine buildings arranged around parks and public space</h2>

The proposal has been designed around a landscape-led framework rather than a traditional podium-and-tower approach.

Across the site, approximately 7,500 sqm of public open space would be delivered through a network of north-south and east-west linear parks, connecting into the wider Leppington Town Centre open space network. A further 8,000 sqm of communal open space would be provided for residents.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="f5113abf-5440-4610-9cdc-60a0d41a407e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.55%E2%80%AFAM.png?VersionId=k8zLMj4yZS4hStmGzZJfosjj5iArwIek" />

Rothelowman said the design seeks to maximise landscaping at ground level by concentrating development into compact tower footprints.

"Buildings are carefully lifted and distributed to minimise disturbance to the natural terrain, allowing the ground plane to remain open, permeable, and led by landscape," the design report states.

Rather than creating a continuous podium edge, the design team has focused on allowing landscaping to extend beneath and around the buildings.

"The ground plane is conceived as an extension of the surrounding environment, allowing landscape to flow up to and beneath the built forms."

The architectural language also draws on the area's natural landscape, with Rothelowman describing a material palette influenced by local gum trees, bark textures, creek systems and sandstone tones.

<h2 data-end="4971" data-section-id="s69utu" data-start="4922">Affordable housing and build-to-rent component</h2>

One of the more significant aspects of the proposal is the diversity of housing typologies.

In addition to traditional apartments for sale, the scheme includes a dedicated 25-storey build-to-rent building with 208 apartments and a 22-storey affordable housing building containing 189 homes.

The affordable housing component represents almost 16 per cent of the total dwellings proposed within the Residential Core Precinct.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="f87e6808-e462-44c6-bfa8-a3de1816f2e3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.33.36%E2%80%AFAM.png?VersionId=WTsRKiUAyWw18S5S98yQB5oVuDcnJTxB" />

Community consultation undertaken ahead of the lodgement found support for additional housing in the area, particularly given ongoing affordability challenges across South West Sydney. Survey work conducted with local residents found housing affordability was one of the poorest-rated aspects of living in Leppington, while a majority of respondents were open to additional housing within the local government area.

The site's proximity to Leppington Station was identified as the most positively viewed aspect of the proposal, while public open space and affordable housing provisions also received majority support.

<h2 data-end="6184" data-section-id="1ngkie4" data-start="6140">Part of Leppington's broader expansion</h2>

ALAND will be a significant contributor to the broader vision for Leppington Town Centre, which is expected to accommodate more than 25,000 residents as the precinct evolves over the coming decades.

Located within Sydney's South West Growth Area, the 440-hectare Leppington Town Centre has been identified by the NSW Government as a strategic centre spanning both the Liverpool and Camden local government areas.

In 2023, Liverpool City Council and Camden Council, supported by the NSW Department of Planning and Environment, prepared a draft planning proposal to rezone land and amend development controls across a number of sites within the town centre.

The proposal outlines a new vision for Leppington Town Centre, reducing the amount of land allocated for business park uses while increasing land zoned for commercial development, housing and open space. The changes are designed to optimise land use across the precinct and support the delivery of a more walkable, transit-oriented centre anchored by Leppington Station.

&nbsp;

ALAND plots 1,200-home Leppington masterplan

Brisbane-based developer <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a>&nbsp;has enlisted renowned architecture firm Koichi Takada Architects to design its latest new apartment development.

The new 34-storey tower at <a href="https://www.apartments.com.au/new-apartments/57-berwick-street-fortitude-valley-qld-4006">57 Berwick Street, Fortitude Valley</a>,&nbsp;will have 189 apartments, complete with interiors by <a href="https://www.apartments.com.au/architects/byculprit">byCULPRIT</a>. The upper levels&nbsp;capturing views across the Story Bridge, city skyline, ranges, bay and river.

Residents will have access to a rooftop amenity floor with facilities including a pool, spa, sauna, hot and cold treatment, meditation garden, gym, yoga studio, private dining, BBQ, games lounge, wine display wall, work library, meeting rooms and outdoor work areas.

<a href="https://www.apartments.com.au/developers/trk-property-group">TRK</a> Founder and Managing Director, Arpan Kohli, said it will be a project "Brisbane hasn't seen before."

&nbsp;

"To deliver a project of this calibre, you need the right people involved," Kohli said.

"Koichi Takada Architects and byCULPRIT set the benchmarks for design excellence, and this project reflects that - a building of genuine architectural significance in one of Brisbane's most coveted locations, sitting between Howard Smith Wharves and the James Street precinct."

TRK recently launched <a href="https://www.apartments.com.au/new-townhouses/laya-residences-taigum-203-beams-road-taigum-qld-4018">LAYA Residences in Taigum</a>, 88 three-bedroom townhouses starting from $1,495,000. They have another apartment site in Indooroopilly, at <a href="https://www.apartments.com.au/new-apartments/140-central-avenue-indooroopilly-qld-4068">140 Central Avenue</a>. That will have 131 apartments.&nbsp;

&nbsp;

TRK proposes Koichi Takada-designed apartment development in Fortitude Valley

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?

<html><body>
The Grounds of Kew by Beulah International is about to set a new standard of luxury – so much so, that residents from neighbouring suburbs are willing to pay double what their detached home is worth for a total lifestyle upgrade. 

Construction is now underway, so Apartments.com.au caught up with the company's Executive Director Adelene Teh about the success of the pre-sales, the inspiration behind the design and future developments in the pipeline. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/367_cotham_road_v14_courtyard_golf_0.jpg" rel="gallery-all" title="The Grounds of Kew's private putting greens available for residents on the ground floor. Credit: Beulah International"><img alt="" class="image-article-full-width-580px" height="293" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/367_cotham_road_v14_courtyard_golf_0.jpg?itok=DWN-TSgL" title="The Grounds of Kew's private putting greens available for residents on the ground floor. Credit: Beulah International" width="580"></a>

<figcaption>The Grounds of Kew's private putting greens available for residents on the ground floor. Credit: Beulah International</figcaption></figure>Apartments.com.au: Congratulations on the success of The Grounds of Kew’s record-breaking sales! What do you believe were the key drivers for the property purchases?

Adelene Teh: Thank you! We were excited to launch Kew as a project and having such successful sales was definitely a great reinforcement to what we [Beulah International] believe with regards to what people are looking for when purchasing a new home. Location is certainly key and for The Grounds of Kew in particular, this corner positioning on Cotham Road is second to none. It is amongst the highly coveted Sackville Ward of Kew, and is near some of the state’s most prestigious schools and mansions. This was certainly a key driver for several buyers. Each of our projects goes through a rigorous research, design and development process to ensure that we are delivering a tailored product that will add value to its unique location. We often get comments on the generous size of the apartments within Kew. While it is uncommon for multi-residential developments to offer such spaces, we know that purchasers love the fact they can leave their established home and not compromise on space. One thing that has been truly fulfilling for us is the sense of community our projects bring to the residents. We recently held a demolition party for our future residents at Kew and see the relationships begin to form was so wonderful. Our whole team said we would love to move in; it looks like it will be a very fun, supportive and friendly place to live. We’re really proud that we can offer our purchasers something different and that our projects are going to truly enhance their lifestyle too.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-04-10_at_11.20.35_am_0.png" rel="gallery-all" title="The Grounds of Kew's golden lobby. Credit: Beulah International"><img alt="" class="image-article-full-width-580px" height="254" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-10_at_11.20.35_am_0.png?itok=EzwZpgAf" title="The Grounds of Kew's golden lobby. Credit: Beulah International" width="580"></a>

<figcaption>The Grounds of Kew's golden lobby. Credit: Beulah International</figcaption></figure>U: The Grounds of Kew has been referred to as a “hyper-luxury” residence. What defining features set the development apart from other luxury lifestyle builds of the area?

AT: The word luxury has been overused in the development industry. Generally speaking, in the industry, luxury is defined by space, finishes and materiality - use of stone etc. However, at Beulah, we value the use of good materials but more than just the tangible, luxury is thoughtful design integrated to elevate the everyday lifestyle. We see luxury as the gift of health; body, soul and mind. A big focus for us is bringing back that sense of community living, while still maintaining a sense of privacy and retreat. This is achievable by including sizeable ground floor backyards. For The Grounds of Kew specifically, we have drawn inspiration from the grand estates and gardens of the suburb. The entrance itself adds another layer of privacy and security, located back from public domain, framing it with a bronzed gateway and two contemporary columns, leading to a canopied doorway. Meanwhile the large ground floor gardens are a private playground for their residents, with courtyards ranging in size from 200sqm – 300sqm. Large spaces and the ease spatial flow also enhance each home. Again, luxury is receiving the gift of time. Giving our residents that comfort and ease throughout every aspect of their day. From slowing down in the morning (e.g. getting ready at the makeup vanity) to cooking and entertaining across the expansive kitchen island bench, butler’s pantry, and outdoor spaces. When residents return home they’ll find cupboards just inside the entry for their shoes and keys, while the luxurious walk-in robe includes a makeup/vanity station for comfort and ease. We really like to include details based on how people live on a daily basis. It’s all about bringing a human touch to our designs to enhance every resident’s quality of life. Similarly, quality of life can often be dependent on location. This is our first consideration in any of our project. It was important to us that if we were to build in Kew, the site had to be amongst the Sackville Ward. The Sackville Ward is one of the most prestigious residential precincts in Melbourne with most homes valued at $5 million, and many above $10 million. These homes are the calibre of property we want to produce. Moreso, it is an untapped market when it comes to hyper-luxury, modern developments, so we saw an opportunity to provide something that is the pinnacle of design. The corner location of this site also enhances the offering.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-04-10_at_1.16.03_pm.png" rel="gallery-all" title="The Grounds of Kew's Sackville Ward mansions"><img alt="" class="image-article-full-width-580px" height="298" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-10_at_1.16.03_pm.png?itok=R_8YvEZl" title="The Grounds of Kew's Sackville Ward mansions" width="580"></a>

<figcaption>The Grounds of Kew's Sackville Ward mansions</figcaption></figure>U: The inspiration of Sackville Ward mansions and Federation Architecture has been masterfully achieved by The Grounds of Kew’s architectural team. Which elements of these designs were most important to incorporate in The Grounds of Kew?

AT: First and foremost, The Grounds of Kew will only be four levels high and will be set back from the public domain. The entrance will be framed by a bronzed gateway and two contemporary columns, leading to a canopied doorway. Other Sackville Ward inspired-designs include the interior colour palettes. We’re giving residents the option of two customised material and colour palettes, with the lighter scheme featuring light stone and pale joinery with accents of brass, whereas the darker and more dramatic scheme brings together graphic stone, rich joinery and contemporary bronze highlights.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-04-10_at_4.31.24_pm.png" rel="gallery-all" title="Option 1"><img alt="" class="image-article-full-width-580px" height="304" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-10_at_4.31.24_pm.png?itok=iAYNjRBP" title="Option 1" width="580"></a>

<figcaption>Bathroom option 1</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-04-10_at_4.31.32_pm.png" rel="gallery-all" title="Bathroom option 2"><img alt="" class="image-article-full-width-580px" height="303" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-10_at_4.31.32_pm.png?itok=QeYZ9H2R" title="Bathroom option 2" width="580"></a>

<figcaption>Bathroom option 2</figcaption></figure>From a landscaping perspective, has drawn inspiration from the grand estates and gardens to create a private playground for each ground floor residence. Ground-floor residences have the choice of including a private putting green which is actually an Australian-first from a development perspective.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-04-10_at_4.34.12_pm.png" rel="gallery-all" title="Landscaped garden by Paul Bangay. Credit: Beulah International"><img alt="" class="image-article-full-width-580px" height="303" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-10_at_4.34.12_pm.png?itok=yV0Vr9--" title="Landscaped garden by Paul Bangay. Credit: Beulah International" width="580"></a>

<figcaption>Landscaped garden by Paul Bangay. Credit: Beulah International</figcaption></figure>U: Who was the target demographic for the development, and how has the building been designed to appeal to their lifestyle?

AT: Established homeowners and local downsizers who have lived in the area for over 20 years, as well as those people living in surrounding suburbs – attracting them to the Sackville Ward and Kew. It was important to cater to people that wanted to stay within the suburb they know and love but without the upkeep. Fender Katsalidis has an amazing understanding of how individuals like to live and always ensure the spaces are designed efficiently and respond to the residents' needs. Their philosophy is underpinned by innovation through collaboration and that was something that really evident working alongside them on this project. There is nothing in Kew of this calibre, we have taken the approved permit scheme of 28-apartments, and reduced it to 20 house-size apartments in order to enhance our buyer's lives. There will be spacious two, three and four bedroom residences, with massive kitchens and dining areas that are perfect for entertaining guests, as well as butler’s pantries, wine cellars, walk-in-robes and plenty of storage.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-04-10_at_4.25.01_pm.png" rel="gallery-all" title="Butler's pantry. Credit: Beulah International"><img alt="" class="image-article-full-width-580px" height="304" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-10_at_4.25.01_pm.png?itok=Tl9XW6bn" title="Butler's pantry. Credit: Beulah International" width="580"></a>

<figcaption>Butler's pantry. Credit: Beulah International</figcaption></figure>U: Given the sales success of The Grounds of Kew, what future residential developments are on the cards?

AT: We are currently developing apartment homes in Camberwell following the amazing success of projects such as Hallmark Ivanhoe and The Grounds of Kew. With our high end collaborations attracting home owner-occupiers, Beulah believes that there is a true need in the market for this particular development and we are committed to deliver hyper luxurious spaces for these buyers to live in. We take ownership to deliver bespoke and beautiful developments that reflect the nature of the area and customers' needs. In terms of our current projects, our Fawkner House development in South Yarra’s exclusive Domain Precinct is in the process of moving into its next phase with construction beginning soon. We’ve also partnered with Ironside to begin construction on The Grounds of Kew, who recently delivered an incredibly successful project with Hallmark Ivanhoe.
</body></html>

Olivia Round

Beulah International Executive Director Adelene Teh discusses The Grounds of Kew development

<html><body>
An architecturally designed home situated over 1,081 square metres in Woolwich Peninsula is now on the market.
It has been offered by Tracey Dixon from McGrath Hunters Hill. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/12/hunt%203.jpg" alt="">
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/12/hunt%202.jpg" alt="">
Designed by Bobby Singh with Ian Halliday from BKH Architects, the brand new residence at <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-128325498" target="_blank">Hunters Hill </a>comes with formal lounge integrating home theatre and wet bar, living and dining flowing into harbour view entertainer's terrace, master suite and four other bedrooms. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/12/hunt%204.jpg" alt="">
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/12/hunt%205.jpg" alt="">
Additional features include skylit foyer with Italian marble, gymnasium, steam room, private garden with infinity edge swimming pool, five car garage plus Control4 home automation.
It's also close to Valencia Street Wharf, city buses and eateries. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/12/hunt%206.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

Brand new Hunters Hill trophy home on the market 

<html><body>
Scotsburn, the grand Avoca estate in the Southern Highlands, has sold for a record $9.25 million.
It was offloaded by the Knox grazier family, who paid $8.1 million less than two years ago, an Avoca record.
It was bought by the Lai family, who are behind property giant Zone Q Investments, the Australian arm of China’s JiaHe JianAn Group.
They had been asking $8.9 million through Michael Maloney and Phillip Dwyer from Richardson &amp; Wrench Bowral.
It has been reported the 41 hectare property has been bought by the Chinese Lai family, the family behind Zone Q Investments, the Australian arm of China’s JiaHe JianAn Group.
Monitored by a 16 camera CCTV security system, the sprawling home, complete with five ensuited bedrooms and five living areas, has a mud room, library, billiard room with bar, 2000 bottle wine cellar and a home office.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/4/avoca%202.jpg" alt="">
In its own wing is a 20 metre heated indoor swimming pool, a gym and a sauna.
The mature landscaped grounds feature a championship all-weather tennis court, boules court, netted veggie garden and orchard
The 41 hectares include improved pastures suitable for cattle or horses, as well as cattle yards, a hay shed, six dams and two permanent springs.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/4/avoca%203.jpg" alt="">
</body></html>

Southern Highlands trophy home Scotsburn, Avoca sells for $9.25 million

<html><body>
Scotsburn, an architectural home in Southern Highlands with panoramic district views, is on the market with a price guide of $8.9 million.
The 102-acre property has been offered by Michael Maloney and Phillip Dwyer from Richardson &amp; Wrench, Bowral.
Scotsburn at<a href="https://www.realestate.com.au/property-lifestyle-nsw-avoca-7999486" target="_blank"> 60 Bresnahan Lane, Avoca</a> features five extra-large bedrooms, five living areas, gourmet kitchen, billiard room with bar, and home office.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/4/avoca%202.jpg" alt="">
The grand entry comes with wide foyer, soaring ceiling and double glazed window. 
Other features of Scotburn include mature landscaped grounds, heated indoor pool, all-weather tennis courts, and boules court. 
The property also includes in ground water tanks, three phase power, solar system, improved pastures six dams and permanent springs. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/4/avoca%203.jpg" alt="">
</body></html>

Southern Highlands trophy home Scotsburn in Avoca listed for $8.9 million

<html><body>
<a href="/buildings/oxford-central-30-42-oxford-street-epping">Oxford Central</a>, a multi-residential development in Sydney’s north-western suburb of Epping has officially ‘topped out’, reaching its maximum height on schedule and within the timeframe of 11 months.

Developers Greaton, Ceerose Construction and industry representatives celebrated the milestone at the summit of the 17-storey double tower complex yesterday while enjoying panoramic views of the CBD, greater Sydney and the Blue Mountains.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/oi7uvmzi.jpeg" rel="gallery-all" title="Topping out ceremony at Oxford Central. Credit: Greaton"><img alt="" class="image-article-full-width-580px" height="401" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/oi7uvmzi.jpeg?itok=JEQSBXwH" title="Topping out ceremony at Oxford Central. Credit: Greaton" width="580"></a>

<figcaption>Topping out ceremony at Oxford Central. Credit: Greaton</figcaption></figure>The 252 premium apartments sit atop a recycled brick podium, fusing modern design with the rich cultural heritage of the Epping neighbourhood.

<blockquote>
“Using high-quality design and sustainable construction, our goal is to create exceptional places, and it’s our belief that Oxford Central achieves this objective.”

- Nicho Teng, Greaton Managing Director
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/oxford-central_v02_herolookup-final-5000-1.jpg" rel="gallery-all" title="Oxford Central. Credit: Ceerose"><img alt="" class="image-article-full-width-580px" height="577" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/oxford-central_v02_herolookup-final-5000-1.jpg?itok=4fK3qD1U" title="Oxford Central. Credit: Ceerose" width="580"></a>

<figcaption>Oxford Central. Credit: Ceerose</figcaption></figure>Over the the course of the 11 month construction period, there were 250 construction workers on site each day, with 15,000 cubic metres of concrete and 1,500 tonnes of steel used to create the structural frame of the two towers – named Centrale and Vista.

<blockquote>
“Ceerose has been a strong partner throughout this project and they’ve shared our vision from the outset… their professionalism and high-quality building standards have ensured we’ve reached this milestone with a minimum of fuss and right on schedule.”

- Nicho Teng, Greaton Managing Director
</blockquote>

Designed by award-winning architectural firm Marchese Partners, the apartment complex features 292 car spaces, an open-air café, on-site BBQ and pet-friendly areas, a member only health and fitness track and lush outdoor zones designed by Taylor Brammer Landscape Architects. Indoor features include floor to ceiling sliding doors, large five burner cooktops, Caesarstone benchtops and Miele appliances.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_6.jpg" rel="gallery-all" title="Oxford Central kitchen. Credit: Ceerose"><img alt="" class="image-article-full-width-580px" height="410" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/3_6.jpg?itok=jLT3EhoX" title="Oxford Central kitchen. Credit: Ceerose" width="580"></a>

<figcaption>Oxford Central kitchen. Credit: Ceerose</figcaption></figure>Oxford Central's <a href="/new-apartments/sydney-nsw">Sydney apartments</a> will be completed ahead of the proposed Epping town centre redevelopment by the NSW government.

Currently, 245 of the development’s 251 apartments have already sold. Interested in securing one? <a href="/buildings/oxford-central-30-42-oxford-street-epping">Enquire here</a>.
</body></html>

Greaton’s Oxford Central in Sydney reaches its peak

<html><body>
The Toongabbie district home of jailed TAB tricksters Trevor Raine and wife Talanoa has been sold by the mortgagees for $620,000.
It fetched $140,000 less than the couple paid three years ago when fibros were selling at inflated prices.
The home was listed by the mortgagee as the couple have been serving prison sentences for scamming the TAB out of $600,000.
The mortgagee had to slash the asking price of the Constitution Hill home seven times since its failed auction last August. 
They initially sought $790,000 for the renovated 1950s two-bedroom, one-bathroom home set on 515 square metres which had Westpac as being the registered lender.
There was also a caveat from Tabcorp stating it inadvertently contributed to the purchase.
“Trevor Bruce Raine’s fraudulent misappropriation of funds from the caveator (Tabcorp) was used to pay the deposit,” the Tabcorp caveat read.
Trevor Raine, who was an IT specialist at Tabcorp, was handed a 28-month sentence, while Talanoa’s involvement was less severe, resulting in a 15-month stint.
They were found guilty of fraud after Trevor scoured Tabcorp’s database for winning tickets that had not been claimed for at least three months. 
He then copied the serial numbers to redeem the winnings on fake tickets. 
They were found out when a TAB customer attempted to cash in a ticket that had already been claimed by the Raines with a duplicated fake.
CoreLogic calculates the time on market for Constitution Hill as typically 39 days, but this sale took 200 days.
“We are under strict instructions from the mortgagee to not discuss this sale with the media,” agent Peter Younan said.
This article was first published in the Sunday Telegraph.
</body></html>

firstname1-iYD4UYzvBa

Mortgagee's Constitution Hill home sold for $140,000 loss after 200 days on the market

<html><body>
Melbourne-based developer Beulah International has just confirmed construction will be commencing on their 'Habitus' and 'The Grounds of Kew' developments. While the tightening of financial lending and construction delays have halted projects across Victoria, Beulah International have forged ahead with two of their luxury multi-residential residences following their off-the-plan sales success.

<blockquote>
“From the completion and settlement of Hallmark and Gardenhill, to the ground-breaking at Paragon, we have consistently proven that we can deliver no matter the condition of the market. “Our team has great propensity to find the right location for the right market, and on these sites, create truly incredible, architectural and lifestyle-led projects.”

- Jiaheng Chan, Beulah International Managing Director
</blockquote>

Ironside Construction (Luminary, Morton Park, Piper) has been engaged to build both developments with completion slated for mid-2020. Working off the contemporary designs of DKO Architecture and John Patrick Landscape Architects, Habitus town-homes in South Melbourne will be constructed from a material palette of  brass, steel and glass features, nestled within meticulously landscaped greenery.

The sawtooth roof profile perhaps provides Habitus with its most defining feature - a contemporary design response to its context at the threshold of industry and living.

Interiors of all 27 four-storey town-homes will be modern, with warm timber, natural stone and ribbed glass for added privacy.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-04-10_at_11.33.37_am.png" rel="gallery-all" title="Habitus by DKO Architecture. Credit: Beulah International"><img alt="" class="image-article-full-width-580px" height="385" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-10_at_11.33.37_am.png?itok=gqH3vs9n" title="Habitus by DKO Architecture. Credit: Beulah International" width="580"></a>

<figcaption>Habitus by DKO Architecture. Credit: Beulah International</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-04-10_at_11.33.50_am.png" rel="gallery-all" title="Habitus' private landscaped gardens. Credit: Beulah International"><img alt="" class="image-article-full-width-580px" height="732" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-10_at_11.33.50_am.png?itok=I4BtMT7V" title="Habitus' private landscaped gardens. Credit: Beulah International" width="580"></a>

<figcaption>Habitus' private landscaped gardens. Credit: Beulah International</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-04-10_at_11.34.12_am.png" rel="gallery-all" title="Habitus town-home living area. Credit: Beulah International"><img alt="" class="image-article-full-width-580px" height="347" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-10_at_11.34.12_am.png?itok=jPYKLYUM" title="Habitus town-home living area. Credit: Beulah International" width="580"></a>

<figcaption>Habitus town-home living area. Credit: Beulah International</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-04-10_at_11.34.20_am.png" rel="gallery-all" title="Habitus town-home kitchen. Credit: Beulah International"><img alt="" class="image-article-full-width-580px" height="348" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-10_at_11.34.20_am.png?itok=vwLbozmC" title="Habitus town-home kitchen. Credit: Beulah International" width="580"></a>

<figcaption>Habitus town-home kitchen. Credit: Beulah International</figcaption></figure>The Grounds of Kew meanwhile, has been designed by Fender Katsalidis, with landscape design by Paul Bangay. Located in the heart of Kew, the residences will live up to the postcode's prestigious reputation, with private putting greens (for ground floor properties), gilded hardware, marble benchtops and butler’s pantries – The Ground of Kew encapsulates the glamour of multi-residential living.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image_35.jpg" rel="gallery-all" title="Grounds of Kew by Fender Katsalidis. Credit: Beulah International"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/image_35.jpg?itok=ZiHGlOdK" title="Grounds of Kew by Fender Katsalidis. Credit: Beulah International" width="580"></a>

<figcaption>Grounds of Kew by Fender Katsalidis. Credit: Beulah International</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-04-10_at_11.20.35_am.png" rel="gallery-all" title="Grounds of Kew lobby. Credit: Beulah International"><img alt="" class="image-article-full-width-580px" height="254" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-10_at_11.20.35_am.png?itok=EH_D4UK8" title="Grounds of Kew lobby. Credit: Beulah International" width="580"></a>

<figcaption>Grounds of Kew lobby. Credit: Beulah International</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-04-10_at_11.40.00_am.png" rel="gallery-all" title="Grounds of Kew lounge. Credit: Beulah International"><img alt="" class="image-article-full-width-580px" height="253" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-10_at_11.40.00_am.png?itok=7EndSaY8" title="Grounds of Kew lounge. Credit: Beulah International" width="580"></a>

<figcaption>Grounds of Kew living area. Credit: Beulah International</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-04-10_at_11.20.10_am.png" rel="gallery-all" title="Grounds of Kew bathroom. Credit: Beulah International"><img alt="" class="image-article-full-width-580px" height="254" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-04-10_at_11.20.10_am.png?itok=ElIwDhVs" title="Grounds of Kew bathroom. Credit: Beulah International" width="580"></a>

<figcaption>Grounds of Kew bathroom. Credit: Beulah International</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/367_cotham_road_v14_courtyard_golf.jpg" rel="gallery-all" title="Grounds of Kew putting green. Credit: Beulah International"><img alt="" class="image-article-full-width-580px" height="293" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/367_cotham_road_v14_courtyard_golf.jpg?itok=-7aT71KU" title="Grounds of Kew putting green. Credit: Beulah International" width="580"></a>

<figcaption>Grounds of Kew putting green. Credit: Beulah International</figcaption></figure><blockquote>
“Ironside has a good reputation when it comes to creating spaces that are built for living. They have prudent processes and we align in our company values so it made their appointment to both Habitus and The Grounds of Kew an obvious choice.”

- Jiaheng Chan, Beulah International Managing Director
</blockquote>
</body></html>

Putting greens and “hyper-luxury” town-homes: Beulah International commences dual construction despite turbulent property market

<html><body>
EXPERT OBSERVER
While the month to month rise in sentiment is fairly muted, the survey detail suggests the Budget was well-received.
Sentiment over the course of the week showed a clear boost, with sentiment amongst those surveyed post-Budget 7.7% higher than sentiment amongst those surveyed prebudget – the most positive turnaround since we began tracking pre and post Budget responses in 2011.
The key issue will be whether this boost from the Budget is sustained. Certainly the ‘pre Budget’ print of 96.8 showed a further deterioration in sentiment from the previous print of 98.8, despite what was already quite a sharp 4.8% fall in March.
Persistent weak wages growth; falling house prices; and the perceived rising cost of living are all weighing on consumers.
This is best captured in the component of the Index – ‘family finances compared to a year ago’ – which declined 4.9% in April (showing little movement between pre and post Budget responses) and is down 9.6% on a year ago.
Click here <a href="https://www.propertyobserver.com.au/images/2019/4/10/Sent1.jpg" target="_blank">to enlarge</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/10/Sent1.jpg" alt="">
That compares to the headline Index which is only down by 1.6% over the same period. The month’s survey included an additional question asking consumers about the impact they expect the Budget to have on their finances over the next 12 months. Responses again suggest the 2019 Budget was well-received. Around 15% of consumers expected it to improve their finances; 51% expected no change; and 22% expected it to worsen their finances.
While the overall balance is negative, consumers appear to carry a consistent negative view around budget assessments. At –8.5% the net improve/worsen reading is less negative than last year’s net –10.4% and easily the ‘best’ response we have seen since we began running this question in 2010 (the average reading being –26.6%).
Tax relief was again a key feature of this year’s Federal Budget with new measures building on the seven–year personal income tax plan announced last year.
The main near term measures are clearly targeted at ‘low and middle income earners’. Accordingly it is no surprise that sentiment showed more positive responses amongst consumers in these income groups – both the post-Budget lift and assessed impact on family finances were markedly more positive amongst consumers with incomes in the $60–100k a year range.
Click here <a href="https://www.propertyobserver.com.au/images/2019/4/10/Sent2.jpg" target="_blank">to enlarge</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/10/Sent2.jpg" alt="">
Other factors that may have impacted sentiment in April include: a continued lift in the ASX, now up nearly 10% from its late 2018 levels; but negatives around petrol prices (average pump prices nationally up 18¢/litre since early February) and continued declines in house prices.
The month to month gain in sentiment was driven by a solid rise in expectations for the economy and family finances with some offsetting drag from weaker assessments around current finances and ‘time to buy a major household item’. 10 April 2019 
The Budget appeared to shore up confidence around the economy, which has had a shaky start to the year with choppy reads in the previous three months.
The ‘economic outlook, next 12 months’ sub-index rose 6.2% in April, regaining most of the ground lost in March.
The ‘economic outlook, next five years’ sub-index also rose 5.9%, retracing all of the previous month’s decline. Both sub-indexes are again in net positive territory above 100 and well above long run averages. Consumer views on family finances were much more mixed.
The ‘finances next 12 months’ sub-index posted a solid 4.1% lift, no doubt reflecting the tax measures at the centre of this year’s Budget. However, as discussed, the sub-index tracking assessments of ‘finances vs a year ago’ posted a sharp 4.9% decline in April to be down 9.6% on a year ago and at its lowest level since August 2017.
Attitudes towards spending also cooled notably with the ‘time to buy a major household item’ sub-index declining 2.0% to 115.5 in April (despite a 10.5% post-Budget lift). While that is still a positive read, it is below the levels seen a year ago and well below the long run average of 127. The readings around both current finances and ‘time to buy a major item’ remain consistent with the weak consumer spending growth seen through the second half of 2018.
Renewed confidence around the economy eased job loss fears a little in April. The Westpac-Melbourne Institute Unemployment Expectations Index recorded a 2.5% decline, retracing part of last month’s sharp 8.9% jump. Recall that lower readings indicate that fewer consumers expect unemployment to rise in the year ahead. At 127.4 the index is back below the long run average of 130”. Sentiment around housing improved in April. The ‘time to buy a dwelling’ index rose a further 2.4% to 119.4 in April, a four year high.
The index has now risen 33% from its mid-2017 low and is back around its long run average of 120. Improving affordability continues to see a lift in buyer sentiment in NSW and Victoria although in both cases there is still some way to go before buyer sentiment returns to long run average levels.
More surprisingly, the Westpac-Melbourne Institute Index of House Price Expectations posted a strong 11.9% rise to 95.6 in April, boosted by a sharp increase in New South Wales.
The Index is coming off a March reading that was the lowest level since we began compiling this index in 2009. The Reserve Bank Board next meets on May 7.
The Governor’s Statement following the April meeting saw a change in the wording of the key final paragraph. From our perspective, that change indicated a more flexible approach to interest rate policy than the ‘on hold’ stance we have seen since September 2016. The Board meeting in May will consider the staff’s revised growth forecasts for 2019 and 2020.
We expect these to be markedly lower than when last reported in February with growth tracking around or below potential. In those circumstances it is reasonable to expect the Board to move to a more formal easing bias in preparation for the first rate cut, which we expect to be delivered in August.
BILL EVANS is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
 
 
</body></html>

bevans-rYk9SxEa4r

Westpac consumer sentiment shows the Budget has been well received

<html><body>
Josh Frydenberg has accused Labor of “lying” about figures behind their negative gearing reforms. 
It comes as the Australian ­Bureau of Statistics has denied claims it had produced data showing that only 7 per cent of property invest­ors bought new homes, a figure opposition treasury spokesman Chris Bowen has been using repeatedly to back his housing policy.
Mr Bowen’s use of ABS data has been challenged by the Grattan Institute, a ­public policy think tank, which has argued that 14 per cent of ­investors buy new properties rather than existing ones. 
Mr Bowen has repeatedly referred to ABS figures purportedly showing that negative gearing has failed to promote construction in new housing and create jobs. 
But ABS financial statistics analyst Tony Mitchell told The Australian newspaper the ABS did not collate the figures Mr Bowen had been referring to since 2016. 
“If you wanted to have those numbers you wouldn’t be able to get them from our statistics ­because we don’t collect them,” Mr Mitchell told The Australian. 
“We’ve got a little bit about construction, but it is to do with lending to businesses for construction of investment dwellings. It is not to do with lending to households for construction of ­investment dwellings.
“There is nothing about lending­ for newly constructed dwellings. That is included in other statistics, but you can’t break it out.” 
The Treasurer said Bowen had been “caught out” and had to “come clean” about Labor’s sums in his budget reply speech later today.
“Bill Shorten and Chris Bowen have been tripping over their shoe laces and the election hasn’t even begun,” the Treasurer told Sydney’s Alan Jones on 2GB radio this morning.
“The Labor Party in reality may see a big black hole in them because they have underestimated the number of negative gearers who use new homes.
“Chris Bowen needs to come clean about the data.”
“The most recent Australian Bureau of Statistics data shows that 93 per cent of new investment loans go to people purchasing ­existing housing stock,” Mr Bowen said in January. 
“This means that the vast bulk of investment does not increase supply or boost jobs. 
“All it does is increase demand and the price of the existing homes, allowing investors to use tax subsidies to outbid owner-occupiers and first-home buyers.”
Grattan Institute director Danielle Wood said the independent think tank had estimated that more investors bought new properties than Labor was claiming. 
“It is right that you can’t ­directly calculate it from the ABS data because some of the finance is going into homes that are newly constructed and you can’t see the split between­ investors and owner-occupiers for that ­category,” Ms Wood said. 
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
The Property Investors Council of Australia (PICA) said the use of ‘dodgy data’ shows Labor must urgently authorise the Parliamentary Budget Office to release modelling and assumptions used in their negative gearing and capital gains tax policies.
“If Labor has nothing to hide, then this is a straight forward exercise in full disclosure so all property owners can understand their reasoning for such significant reform,” said PICA chairman, Ben Kingsley.
Mr Kingsley said Labor’s keystone policy failed to include off-the-plan and house-and- land packages in its estimation that more than 90 per cent of new investment loans are to people purchasing existing housing stock.
He said industry experts have shown this figure to be woefully inaccurate.
“Just today Australia biggest aggregator – AFG with over 2900 mortgage brokers – confirmed its mortgage application data for new investment purchases vs. existing property was 43% new and 57% existing,” he said.
</div>
</div>
</div>
</body></html>

Labor's Chris Bowen accused on major negative gearing data miscalculation

<html><body>
Wynn Resorts says it has scrapped preliminary talks to acquire the James Packer-controlled Crown Resorts for $10 billion ($US7 billion) after the Australian Financial Review broke news of the negotiations.
Crown shares jumped as much as 22 per cent <a href="/news/las-vegass-wynn-resorts-seeking-crown-resorts">on the news yesterday</a> to $14.37, close to the $14.75 per share level that Crown said Wynn’s latest cash-and-stock offer valued the company.
When the markets opened they shot down 10.6% to $12.55.
After the AFR revealed Wynn’s takeover approach, Crown not only confirmed the confidential talks on Tuesday, but also disclosed the price that Wynn was offering.
It added that Crown’s board had not yet considered Wynn’s latest offer.
Wynn, the world’s No.2 casino operator, then issued two statements, first confirming the talks, and, a few hours later, stating that they had ended.
“Following the premature disclosure of preliminary discussions, Wynn Resorts has terminated all discussions with Crown Resorts concerning any transaction,” the company said in its second statement.
Wynn was founded in 2002 by Steve Wynn, who started his casino business in Las Vegas in the 1960s.
Beset by sexual misconduct allegations, Wynn left the company and sold his entire 11.8 per cent stake in Wynn Resorts for $US2.1 billion last month.
Wynn operates large resort-and-casino complexes in Las Vegas and Chinese gambling hub Macau, with another under construction in Massachusetts.
The Australian reported the departure of Wynn Resorts billionaire founder Steve Wynn last year enabled the US-based casino operator to come forward with its $10 billion takeover approach for Crown Resorts.
It wrote the offer landed with the company about one month ago, after which Crown called in Goldman Sachs and UBS as its defence advisers.
Ashurst is working as a legal adviser to Crown, which counts James Packer as a 47 per cent shareholder.
Then there was the period when both tycoons were competing for the casino licence in Sydney decades ago, <a href="/news/when-donald-trump-toyed-with-opening-darling-harbour-sydney-casino">and even Donald Trump</a>.
Wynn was unsuccessful in securing the Sydney casino, which was won by Harrah.
Moelis is understood to be working on the transaction with Wynn because of the connections of founder Ken Moelis with casino operators in the US. 
Deutsche Bank is also involved.
</body></html>

Latest Property News

Construction commences on MRCB’s $200m Maris Residences in Southport

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Property News

Construction commences on MRCB’s $200m Maris Residences in Southport

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News