South East Queensland developer&nbsp;<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a>’s entry into the Gold Coast apartment market has progressed from pipeline to market, with its Chevron Island project Bronze on Chevron now formally available to purchase ahead of a planned 2029 completion.

The 119-apartment development on Mawarra Street marks the Brisbane-headquartered builder-developer’s first residential play in the Gold Coast, following its expansion south from Brisbane and the Sunshine Coast.

<a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-surfers-paradise-qld-4217">Bronze on Chevron</a> comprises a mix of two-, three- and four-bedroom residences, with pricing starting from just over $1.5 million. The project is being delivered under Gardner Vaughan’s fully integrated model, with the group acting as both developer and builder, a structure it has consistently applied across its South East Queensland portfolio.

[smartcode_project:default project_id=107520 project_image_fid=367182]

Architecture has been designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jeremy-ferrier-landscape-design">Jeremy Ferrier</a>. The building presents as a single-tower scheme, with a focus on maximising outlook across both the Surfers Paradise skyline and the Nerang River.

Apartments have been planned with open-plan living zones extending to generous balconies, a response to the site’s dual-aspect positioning between river and ocean. Interiors follow a restrained coastal palette, with two colour schemes offered, and an emphasis on natural light and cross-ventilation.

[smartcode_project:default project_id=107520 project_image_fid=367181]

Resident amenity is concentrated across more than 1,250 sqm and includes a resort-style pool, gym, yoga lawn and rooftop entertaining areas. A function space with catering facilities forms part of the upper-level offering, alongside north- and south-facing outdoor areas.

Ground level will incorporate two retail tenancies, intended to extend the existing village character of the surrounding streets.

&nbsp;

[smartcode_project:default project_id=107520 project_image_fid=367200]

The project sits within walking distance of Thomas Drive’s established dining strip, while maintaining proximity to <a href="https://www.apartments.com.au/developments/surfers-paradise-qld-4217">Surfers Paradise</a> beach and broader Gold Coast amenity. The location, positioned on Chevron Island between the river and coastline, has increasingly attracted mid- to high-density development in recent years as the precinct evolves beyond its low-rise origins.

Gardner Vaughan’s move into the Gold Coast was first signalled in 2025, with the group identifying the region as a natural extension of its operations. Chief Executive Officer Simon Betteridge described the expansion as both “strategic and natural”, citing demand for well-designed apartments in lifestyle-driven markets.

Construction is expected to complete in early 2029.

[smartcode_project_cta:default project_id=107520]

Joel Robinson

Gardner Vaughan brings Bronze on Chevron to market as Gold Coast debut

One of the penthouses at Lily Lane, the latest stage of Carrington Place by Ellipse Property, has set a new local apartment price record.

The four-bedroom residence, purchased by a local downsizer, sold for $5.75 million—around 75 per cent higher than the previous record of $3.3 million.

Over 40 per cent of the first release of apartments at&nbsp;<a href="https://www.apartments.com.au/new-apartments/lily-lane-at-carrington-place-castle-hill-32-carrington-road-castle-hill-nsw-2154">Lily Lane</a> have already been snapped up just six weeks since it launched to the market.

&nbsp;

Located at 32 Carrington Road, <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a> and designed by award-winning architects <a href="https://www.apartments.com.au/architects/ptw">PTW</a>, Lily Lane is directly opposite the Hills Showground Metro station. It offers a total 213 units over two 12-storey towers - a mix of 67 one-bedroom, 100 two-bedroom and 46 three-bedroom apartments - with a ground-floor retail offering.

[smartcode_project:default project_id=151821 project_image_fid=368352]

Blake Schulze, National Director – Residential at <a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a>, says around 44 per cent of buyers are&nbsp;owner occupiers, with 35 per cent being investors and 21 per cent first homebuyers.

“Developments of this calibre are very rare in the Hills District, and Lily Lane’s sales success demonstrates the depth of demand for over-sized apartments that genuinely compete with freestanding homes," Schulze says.

"We are seeing particular demand from downsizers who want to remain in the area but transition into spacious, high-quality apartment living."

On the penthouse sale, it says it shows buyers&nbsp;are prepared to pay a premium for scale, quality, and direct access to the Metro.

[smartcode_project:default project_id=151821 project_image_fid=368351]

One-bedroom apartments are sized from 50-72 sqm with prices starting at $745,000, while two-bedrooms are priced from $990,000 with sizes from 75 to 132 square metres. Three-bedroom floorplans are sized between 97 and 182 sqm,, with prices starting at $1,395,000.&nbsp;

The three remaining penthouses, spanning up to 262 sqm, are priced from $2.9 million.

Over 75 per cent of apartments include dedicated studies, multipurpose rooms or family rooms, with select layouts offering walk-in pantries and laundries. Apartments are appointed with premium Miele appliances including ovens, washing machines, dryers, gas cooktops and dishwashers, while larger residences also incorporate integrated Miele microwaves, Fisher &amp; Paykel integrated refrigerators and five-burner Miele cooktops.

[smartcode_project:default project_id=151821 project_image_fid=360285]

Lily Lane will be constructed by award-winning iCIRT-rated builder <a href="https://www.apartments.com.au/builders/decode">Decode Group</a>, with construction to commence in mid-2026 and expected to complete early 2029.

Carrington Place comprises more than 800 apartments and is being delivered across multiple stages, with completion expected in 2032. Integrated with neighbouring bushland, the project will feature over 20,000 sq, of outdoor recreational area, including a one-kilometre boardwalk to Fred Caterson Reserve.&nbsp;

The Hills Showground Metro Station is just a two-minute walk away, offering fast connectivity to Sydney’s CBD, North Sydney, Chatswood, Macquarie Park and Norwest Business Park.

[smartcode_project_cta:default project_id=151821]

Ellipse sets Castle Hill apartment record with $5.75 million Lily Lane penthouse sale

Fresh off completing its Delano Crows Nest development, Lindsay Bennelong has lodged plans for its next project, this time turning its attention back to the beach.

The developer, started 20 years ago by Clarendon Homes founder Peter Campbell, is proposing a 37-apartment scheme at <a href="https://www.apartments.com.au/new-apartments/17-25-ashburner-street-manly-nsw-2095">17-25 Ashburner Street</a>, Manly, positioned between the southern end of <a href="https://www.apartments.com.au/developments/manly-nsw-2095">Manly</a> Beach and East Manly Cove.

Lindsay Bennelong called on local architecture firm Platform Architects to design the new building, given their success at Finn, Lindsay Bennelong's current luxury apartment project on North Steyne.&nbsp;

According to the Design Verification Statement by Bridie Gough of Platform Architects, the proposal “relates to the current context but also the desired future character of taller buildings suitable to the new planning controls.”

The site has been identified as a Low to Mid-Rise Housing (LMR) location, given its position within 400 metres of the Manly Town Centre E1 Business Zone. The LMR controls are intended to unlock additional housing supply in well-located areas close to public transport, allowing developers to seek increased height limits to support greater density.

“The proposal seeks to provide this increased level of housing whilst being respectful of some of the smaller scale buildings also nearby,” the statement reads.

Lindsay Bennelong Development Director Leigh Manser said the project has been carefully aligned with the intent of the LMR controls. The proposal will significantly increase housing yield on the site, replacing four houses and 10 apartments, comprising 25 bedrooms, with 37 new apartments delivering a total of 94 bedrooms, whilst remaining compliant with the LMR controls.

“Sydney is in a severe undersupply, and delivering more dwellings and more bedrooms than what currently exists is exactly what the LMR policy is designed to activate,” Manser said, noting that nine of the apartments will be allocated as affordable housing for frontline workers.

“We have already commenced discussions with our community housing provider to determine the rental levels that frontline workers can realistically afford in this location,” he said. “These will need to sit well below the standard affordable housing benchmark of 20 per cent below market rent, and that has been factored into our feasibility and pricing.”

<img alt="Manly" data-entity-type="file" data-entity-uuid="ad03000f-19f9-48b4-b27d-e85ca800a1da" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%208.41.59%E2%80%AFAM.png?VersionId=a.txHwCZgbCInlQ6QXbIrI.umvW1T.r8" />

The design of the building incorporates a wave-like indentation running through the façade, referencing the nearby coastline and anchoring the building within its local context.

The&nbsp;Design Verification Statement says careful consideration has been given to the articulation of the building, ensuring the bulk is broken down to a more human scale through a defined four-storey podium."

The scheme includes a mix of one-, two- and three-bedroom apartments, as well as a full-time building manager's office and wellness facilities including a sauna and a gym.

“The design ensures a high level of amenity, with apartments offering generous private open space, many with expansive views, and all with comfortable proportions."

<img alt="Bennelong" data-entity-type="file" data-entity-uuid="6a7f2812-72a1-4959-84b0-997e8cd88aed" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%2010.15.50%E2%80%AFAM.png?VersionId=6iMxU3MkXmHVHAoNhYBjnqgka8CUZNbk" />

<a href="https://www.apartments.com.au/developers/lindsay-bennelong-developments">Lindsay Bennelong</a>&nbsp;is currently developing Finn Manly, just four full-floor luxury apartments on North Steyne. They recently welcomed residents to its 81-unit Delano Crows Nest development, a&nbsp;carefully scaled infill project designed to bridge&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>’s lively village centre with its surrounding heritage streets.

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>,&nbsp;<a href="https://www.apartments.com.au/new-apartments/delano-crows-nest-27-57-falcon-street-crows-nest-nsw-2065">Delano</a>&nbsp;is arranged across three low-rise buildings, incorporating a mix of one, two, and three-bedroom apartments alongside a limited number of townhomes addressing Hayberry Lane. The architectural approach drew on the area’s Art Deco lineage, reinterpreted through contemporary detailing and framed by landscaped communal gardens.

The developer also has a development site in Maroubra.

First look: Lindsay Bennelong's new Manly apartment development revealed

Fifty-nine residences across 37 levels. No more than two per floor. With 80 per cent now sold, what remains at <a href="https://www.apartments.com.au/new-apartments/madeline-by-mosaic-broadbeach-22-mary-avenue-broadbeach-qld-4218">Madeline by Mosaic</a> is a short list.

Madeline was always conceived at a scale that sits outside the normal register of Gold Coast apartment living. The residences are half- and full-floor configurations, with the largest spanning more than 400 sqm, dimensions that place them closer to the penthouse end of the market regardless of where they sit in the building.

That scale is the organising principle of everything else: how the floorplans are laid out, how the materials read, how the connection between inside and outside works.

[smartcode_project:default project_id=150135 project_image_fid=355941]

The interiors were developed in collaboration with <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a>, the architecture practice&nbsp;<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic</a> brought in as design partner for the first time on this project. The palette runs to natural stone, textured timbers, and soft metallics, materials chosen as much for their tactile quality as their appearance.

Light cleverly shifts across surfaces through the day, and the design is explicit about wanting that to be noticed. Full-height glazing runs across the primary living areas, and where the building faces east toward the ocean, those walls of glass are doing real work: framing a view corridor that the site's position directly opposite Broadbeach State School's playing fields keeps permanently open.

That outlook is the site's most consequential asset. In a suburb where new towers continue to rise, a protected view line is genuinely rare, and the Mary Avenue address secures it. Residents at Madeline will look out over open parkland rather than the rear of another building, a distinction that becomes more meaningful with each new development approved nearby.

[smartcode_project:default project_id=150135 project_image_fid=355939]

The private outdoor spaces are sized to match the residences themselves. Terraces on the upper levels frame uninterrupted ocean panoramas, and the planning ensures that living areas extend into those outdoor zones rather than treating them as separate attachments. The flow between the two is part of the design intent, not an afterthought.

Inside, the finish specification reflects the same approach. Rich stone benchtops, warm timber joinery, bespoke hardware, each element specified to hold up over time rather than read as a moment in a particular trend cycle.

[smartcode_project:default project_id=150135 project_image_fid=3409]

Beyond the residences, the amenity offering extends that register. A lap pool and sun deck anchor the outdoor space, alongside a magnesium pool, cold plunge, steam room, and sauna.

A commercial-grade gymnasium, residents' lounge, library, and boardroom round out a programme that functions more like a private members club than a standard building amenity floor.

Construction has commenced under Mosaic's in-house building arm, with completion scheduled for late 2028.

[smartcode_project_cta:default project_id=150135]

Madeline by Mosaic delivers penthouse-level living across every apartment

Developer Fortezza Group is the latest to take its new apartment development, <a href="https://www.apartments.com.au/new-apartments/the-belvedere-5-7-church-street-nelson-bay-nsw-2315">The Belvedere in Nelson Bay</a>, to the NSW Government.

Fortezza, predominantly a South East Queensland developer, is the latest to apply for State Significant Development&nbsp; status through the NSW Government's Housing Delivery Authority, a pathway becoming favoured by developers to speed up the approval process.

They are planning 57 two- and three-bedroom apartments across 5-7 Church Street and 42 Donald Street, near d'Albora Nelson Bay Marina. The diverse apartment mix has sizes from just over 80 sqm to the largest three-bedroom penthouses that reach nearly 200 sqm.

<img alt="Fortezza" data-entity-type="file" data-entity-uuid="090360e1-66d7-43ad-b686-aba81f173bf2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%2010.22.40%E2%80%AFAM.png?VersionId=DMqF96eBZolqSAAAcugX0l66ueWng66m" />

Fortezza calls the project a "piece of Istria in Nelson Bay,"&nbsp;referring to the largest peninsula in the Adriatic Sea, shared by Croatia (90%), Slovenia, and Italy, which is known for its Roman history, Venetian-style coastal towns and inland hilltop villages.

They say the The Belvedere is strategically positioned at the apex of Nelson Bay, offering unrivalled views of the ocean, the bay and captivating topography of the area.

"Our commitment to maintaining the integrity of every view and sight line has been relentless," Fortezza Group says.

"Through extensive modelling and analysis, we ensure that each apartment enjoys the natural beauty of Nelson Bay, regardless of future developments. Each design element is carefully curated to harmonise with our European heritage, drawing profound inspiration from the Roman architectural marvels in Istria. The arches, the cascades of greenery and the stonework that define our project pay homage to the structures that once exemplified Roman grandeur."

Residents will have access to a pool, communal green spaces, an office and a coffee shop.

First look: Fortezza Group takes The Belvedere, Nelson Bay apartment development, to NSW Government

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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Property tycoon Donald Trump’s outrider says Queensland's Gold Coast needs to lift its game if it hopes to attract more premium tourism.
Trump International senior vice-president for global hotel development and acquisitions, Todd Wynee-Parry is currently in Australia sizing up opportunities.
But it's not looking likely.
“I think [the Gold Coast] needs to rethink its development strategy and designate some proper resort sites," he told Fairfax Media.
"The Gold Coast is a gorgeous beach with no world class resorts actually on the beach.”
Mr Wynne-Parry is speaking at the Tourism &amp; Transport Forum’s 2013 Outlook Conference in Sydney where the Trump group has given fleeting interest to developing a prestige hotel and apartment Trump Tower at Sydney’s <a href="https://www.propertyobserver.com.au/new-south-wales/paul-keating-urges-james-packer-to-reconsider-barangaroo-hotel-and-casino-but-definitely-keep-it-off-the-grass/2012022853608" target="_blank">Barangaroo</a>.
But Australian gambling tycoon James Packer has a near monopoly on that ambition.
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Donald Trump's senior vice president says the Australian Gold Coast needs to lift its game to attract premium tourism

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Ray White Surfers Paradise Group secured more than $5 million in sales at their Autumn auction on the Gold Coast last Sunday.
Some 28 properties went under the hammer with 16 sold, reflecting a clearance rate of 57%.
The highest priced sale included an acreage dwelling in <a href="/news">Helensvale</a> which sold for $1.1 million.
The main home includes three bedrooms plus a study and a family room with a wet bar. The 4,318-square-metre riverfront property last sold in 2004 for $720,000.
Another sale was a 14th floor apartment in the Surfers Paradise block, Surfers Manhattan, which sold for $980,000 through Tolemy Stevens from Ray White Prestige.
The unit (pictured below) occupies half of the 14th floor and features three bedrooms and two bathrooms.
<img src="/images/stories/2013/04/surfersapril19one.jpg" alt="surfersapril19one" width="470" height="300">
Surfers Manhattan is a residential building only, with no holiday letting allowed.
The apartment last sold in 2009 for $970,000 and $1.05 million in November 2004, suggesting prices continue to bounce along the bottom.
<img src="/images/stories/2013/04/surfersapril19two.jpg" alt="surfersapril19two" width="470" height="312">
The most recent sale at Surfers Manhattan was $1,565,000 for the 350 square metre whole floor on the 17th floor. It had previously sold at $105 million in 1997 and at $1.1 million in 1994.
The prestige properties sold last weekend by Ray White Surfers Paradise almost totalled $20 million.
“The result follows prestige sales very strong week of sales in the prestige segment of the market,” says Ray White Surfers Paradise CEO Andrew Bell.
“This reinforces a strong sales trend in the first quarter across the Ray White Surfers Paradise Group, with sales result in keeping with the best market in Australia.”
 Bell says inspection volumes are also very high this year, which shows there are more people looking to get into the market.
“Buyer confidence is improving and coupled with lower than usual supply levels is creating greater competition for properties,” says Bell.
There were 103 registered bidders at the auction.
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Ray White Surfers Paradise secures competitive auction clearance rate as prices bounce along the bottom

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Investors in Queensland stand to earn yields of up to 6.4% on Brisbane units, according to statistics released by the Real Estate Institute of Queensland.

The top ten yielding postcodes for units in Brisbane are led by Brisbane City along with Moorooka and Greenslopes - all with a gross yield of 6.4%.

The median price in postcode 4000, which includes Brisbane City and <a target="_blank" href="/news">Spring Hill</a>, is $438,057 with rents at $542.
Click to enlarge
<a href="/images/stories/2013/04/reiqapril18one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/04/reiqapril18onethumb.gif"></a>
Property Observer undertook a survey of current rental listings to ascertain the actuality of the statistically derived figures with the live marketplace. The random results suggest a correlation, with perhaps the weakest being Greenslopes.
In Brisbane City a two-bedroom, two-bathroom unit in <a target="_blank" href="https://www.realestate.com.au/property-apartment-qld-brisbane+city-113556795">347 Ann Street</a> (pictured below) is listed for sale in the mid to high $400,000s. It currently rents via a corporate letting firm for $540 per week unfurnished. If it sold for $475,000 it would give a potential gross yield of 5.91%.
<img src="/images/stories/2013/04/reiqapril18two.jpg" width="470" height="350" alt="reiqapril18two">
It is being sold by Alexander Veal from Next Property Group Brisbane.

Also in Brisbane City is a two-bedroom, two-bathroom unit in <a target="_blank" href="https://www.realestate.com.au/property-apartment-qld-brisbane+city-113454399">120 Mary Street</a> is listed for sale at $489,000. Marketing for the property suggests a potential rental of $660 to $690 per week giving a potential gross yield of 7.34%.

It is being sold by Tom Kralikas from North South Real Estate.

And <a target="_blank" href="https://www.realestate.com.au/property-unit-qld-brisbane+city-113297995">unit 1003 at 92 Quay Street</a> Brisbane City is listed for sale at more than $495,000. It currently rents at $650 per week giving a potential gross yield of 6.83%.

It is being sold by Justin Hagen from Calibre Real Estate.

<a target="_blank" href="/news">According to RP Data</a> Brisbane City unit prices increased 4.3% in the last year.
 
<hr class="system-pagebreak">
The median price in <a target="_blank" href="/news">Moorooka</a>, six kilometres south of the CBD, is $287,500 with rents at $355 per week, according to the REIQ.

A two-bedroom <a target="_blank" href="https://www.realestate.com.au/property-unit-qld-moorooka-113379479">unit 1 at 28 Hamilton Road</a>, Moorooka, (pictured below) is listed for sale at more than $279,000. According to RP Data it was last listed for rent at $340 per week in January 2012. This would give a potential gross yield of 6.34%. It last traded for $200,000 in 2010.
<img src="/images/stories/2013/04/reiqapril18three.jpg" width="470" height="349" alt="reiqapril18three">
It is being sold by Wayne Hankinson from Go Gecko.

A two-bedroom <a target="_blank" href="https://www.realestate.com.au/property-unit-qld-moorooka-113034435">unit 2 at 116 Chaucer Street</a> Moorooka is listed for sale at more than $390,000. According to RP Data it was last listed for rent at $400 per week in 2012. This would give a potential gross yield of 5.33%. It last traded for $390,000 in 2009. 

It is being sold by David Cotterill from Belle Property.

The median price in <a target="_blank" href="/news">Greenslopes</a>, 4.5 kilometres south of the CBD, is $293,500 with rents at $362 per week, according to the REIQ.

A two-bedroom unit at <a target="_blank" href="https://www.realestate.com.au/property-unit-qld-greenslopes-113581675">3/58 Douglas Street</a> Greenslopes is listed for sale at more than $310,000. It is currently rented at $290 per week giving a potential gross yield of 4.86%. 

It is being sold by Di Dent from Harcourts.

A two-bedroom unit at <a target="_blank" href="https://www.realestate.com.au/property-unit-qld-greenslopes-113547943">51/38 Palmer Street</a> Greenslopes is listed for sale at $345,000. It currently rents at $385 per week giving a potential gross yield of 5.8%.

It is being sold by Matthew Griffiths from RE/MAX.

Outside of Brisbane, the highest unit yields in Queensland are found in <a target="_blank" href="/news">Holloways Beach</a> and <a target="_blank" href="/news">Yorkeys Knob</a> in Cairns, as well as <a target="_blank" href="/news">Chinchilla</a> in the Western Downs, both at 8.2%.

The Logan City localities of <a target="_blank" href="/news">Woodridge</a> and <a target="_blank" href="/news">Slack’s Creek</a> are next at 7.8% and 7.7%.
 
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Moorooka, Greenslopes and Brisbane City top the unit yields in Brisbane suburbs: REIQ

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It’s been a long time coming, but the Sunshine Coast has finally made it to the Hotspotting list of prime suspects.  
I’ve been a long-time resident of the Sunshine Coast region but have never been able to include it in a top ten hotspots list because, frankly, the market has stunk for years.  
The local tourism economy was struggling, there was over-supply and affordability was poor. The Sunshine Coast market has ranked, alongside the Gold Coast, among the worst performers on capital growth in Queensland over the past five years.  
Noosa, which has never deserved its star ranking with investors, still has apartment prices lower than five years ago.  
But nothing lasts forever. I’ve been watching the Sunshine Coast market for the past couple of years, awaiting the optimum time for investors to consider this location. I think that time has arrived.  
The market is being helped by a combination of factors. The tourism industry is stronger; the market is more balanced in terms of supply and demand; previous price decline has made coast property more affordable; apartments are increasing in popularity with both home-buyers and investors; many FIFO mine workers are choosing to settle on the Sunshine Coast; and some serious infrastructure is being built in the area.  
This last factor is probably the most important. Nothing generates property price growth like major new infrastructure, which generates jobs, economic activity and improved amenity for residents.  
The big-ticket item is the $2 billion Sunshine Coast University Hospital, now under construction. There will also be a $150 million private hospital built in association with it. The Sunshine Coast University continues to expand, with a $37 million engineering learning hub the latest project to be announced.  
That combination of medical and education facilities is always powerful in driving real estate demand.  
There is considerable retail expansion as well, with Lend Lease recently winning approval for a $350 million expansion of Sunshine Plaza, Reed Property Group undertaking a major revamp of the Big Top shopping centre and Coles planning a supermarket in the Sippy Downs Town Centre.  
Big-ticket residential developments include master-planned communities at Oceanside Kawana and Caloundra South.  
The Sunshine Coast market is now showing the first signs of growth for several years. There has been a considerable uplift in sales volumes, which is a forerunner of price growth.  
I believe the best part of the Sunshine Coast for investors to consider is the southern precinct, from Kawana south to Caloundra. This is the area where the key new infrastructure is being built, including new commercial precincts, the University Hospital, the associated private hospital and major residential developments. This is where the new jobs are being generated.  
This is also the precinct that offers the best affordability on the Sunshine Coast.  
Other parts of the Sunshine Coast will show growth also, but the Kawana precinct offers the best combination of affordability and growth drivers of anywhere on the coast.  
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>
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terryryder-YECXbqmri2

The time has come for the Sunshine Coast to prosper

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A four-bedroom home in Fig Tree Pocket is listed for a auction this Saturday with a $2 million-plus price guide. 
Situated on a large 2,425-square-metre elevated block across two titles on Mactier Street, the two-storey heritage-style home last sold in 2008.
Inspired by Brisbane’s Milton House on Coronation Drive, the home boasts 3.3-metre high ceilings, sandstone stairs and a large wrap around verandah.
Milton House features Georgian architecture and was built in 1853 for retired Queen Street chemist Ambrose Eldridge.
Built in 1995, the Fig Tree Pocket property features a floodlit tennis court and a pool.
<a href="https://www.adcockprestige.com/properties.php?id=7374883" target="_blank">Jason Adcock from Adcock Prestige Brisbane</a> says the property (pictured below) has confirmed bidders for its March 20 auction.
<img alt="figtreeapril18one" height="310" width="470" src="/images/stories/2013/04/figtreeapril18one.jpg">
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Milton House look alike property seeks $2 million plus in Fig Tree Pocket

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There are more than 100 postcodes in Queensland with yields above 5% for houses, according to the Real Estate Institute of Queensland.
Yields are particularly firm in mining locations and those with affordable housing, it found in its latest gross rental yield report.
“Our property market has turned a corner over the past six months, and these robust yields reflect that sales prices had yet to fully rebound in the December quarter last year but rents had definitely increased,” REIQ chief executive Anton Kardash says.
“This year, there continues to be strong demand for rental properties from tenants which in turn is driving activity from investors.
“REIQ analysis of Australian Bureau of Statistics (ABS) housing finance data found that the number of investors in the Queensland property market in February had increased more than 10% compared to January this year.”
The highest yields for houses are found in <a target="_blank" href="/news">Miles</a>, at 9.3%. In the Western Downs region, Miles forms part of the Surat Basin Energy Province. According to RP Data, median prices in the area increased 17.5% in the last year.
Click to enlarge
<a href="/images/stories/2013/04/reiqapril17two1.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/04/reiqapril17two1thumb.jpg"></a>
The town was initially called Dogwood Crossing by explorer Ludwig Leichhardt who passed through the district on three expeditions. It was later renamed Miles in honour of a local member of parliament.
In March, Terry Ryder pegged Miles as one of the Surat Basin towns which will continue to grow.
"They all had double-digit price increases last year and will continue to show more," he says.
One of the cheapest houses listed on online real estate portals is <a href="https://www.realestate.com.au/property-house-qld-miles-112459211">13 Daisy Street</a>. The three bedroom house on 809 square metres is listed at $280,000. The sales campaign started at $350,000 in December last year.
A new four bedroom house on 2514 square metres at <a href="https://www.realestate.com.au/property-house-qld-miles-113560763">Lot 20 Vowles Road</a> is listed for sale at $525,000. It advertises an unfurnished rent of $725 a week and a furnished rent of $1200 per week. The unfurnished rent would give a potential gross yield of 7.18%.
There are a number of <a href="https://www.realestate.com.au/property-house-qld-miles-110414053?listingType=buy">off-the-plan housing developments</a> being marketed, variously promising returns of around 9%.
Number two were <a target="_blank" href="/news">Russell </a>and <a target="_blank" href="/news">Macleay islands</a> at 9%. The Brisbane Bay islands boast plenty of affordable houses and a healthy rental market.
Number three was <a target="_blank" href="/news">Mount Morgan</a> at 8.7%. It is in the Rockhampton local government area, which features many affordable properties.
There were no Brisbane suburbs in the top 20. Brisbane first makes an appearance on the list at number 24 with the outer-southwest suburbs <a target="_blank" href="/news">Durack </a>and <a target="_blank" href="/news">Inala </a>at 6.2%.
The REIQ gross rental yields use weighted median rents and sale prices to derive yields, which is the annual income earned from a tenanted property divided by the purchase price.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/04/reiqapril17one.gif" title="Click to enlarge"><img src="/images/stories/2013/04/reiqapril17onethumb.gif"></a>
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Miles heads Queensland's top 20 house yield locations with Brisbane suburbs missing the cut

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A historic gold mine tourism attraction 140 kilometres west of Cairns has been listed for auction.
The <a target="_blank" href="https://www.tyrconnell.com.au/">Tyrconnell gold mine</a> (pictured below) commenced operation in 1876 producing large quantities of gold.
<img height="349" width="470" src="/images/stories/2013/04/goldmineapril15one.jpg" alt="goldmineapril15one">
The mine helped launch the development of Far North Queensland with the establishment of port towns Cairns and Port Douglas.
It was only 16 years ago that the owner shifted their focus from mining to developing a tourist attraction. Andrew Bell and Cate Harley and their family mined for gold at Tyrconnell since the 1980s, but the focus has been on restoring the heritage assets on site and sharing it with visitors since 1997.
<img height="303" width="470" src="/images/stories/2013/04/goldmineapril15two.jpg" alt="goldmineapril15two">
Tyrconnell mine is held under mining leases covering 40 hectares with campsite and four heritage style cottages. Some 120 years ago Tyrconnell was the most famous mine on the Hodgkinson goldfield with several original buildings and machines remnants from the bustling era.
<img height="354" width="470" src="/images/stories/2013/04/goldmineapril15three.jpg" alt="goldmineapril15three">
Colliers International marketing agent, Dan Brown says that rarely do opportunities like this come along.
Its up for May 2 auction.
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jchancellor-FAypfDUnLy

Tyrconnell historic gold mine tourism attraction in FNQ listed for auction

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KordaMentha and its affiliate firm Calibre Capital have been appointed joint trustees of the $350 million Gold Coast-based LM Managed Performance Fund (LMPF).
The Supreme Court of Queensland made the appointment.
The LMPF raised about $350 million from unit holders and is the second largest mortgage investment fund in the LM Group, once one of Australia’s biggest mortgage fund operators. 
Most of the $350 million invested in LMPF came from overseas investors. The principal asset of the fund is an <a target="_blank" href="https://www.propertyobserver.com.au/developments/irregularities-suspected-in-lmim-s-maddison-estate-mortgage-fund-reports/2013040160117">investment in Maddison Estate</a> (pictured below), a large proposed residential development on the Gold Coast which has recently been the subject of debate about its value.
<img alt="maddisonapril15one" height="327" width="470" src="/images/stories/2013/04/maddisonapril15one.jpg">
The LMPF was previously under the control of administrators of LM Investment Management Limited (LMIM), which was also the trustee.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/jamie-durie-s-garden-designs-wilt-as-gold-coast-mortgage-fund-manager-lm-investment-management-placed-in-voluntary-administration/2013032459976">John Park and Ginette Muller were appointed voluntary administrators of LMIM on March 19</a>.
They then applied to the Supreme Court to be appointed receivers however on Friday last week the court made an order appointing KordaMentha and Calibre Capital as joint trustees, replacing LMIM.
KordaMentha partners David Winterbottom and Simon Vertullo will handle the trusteeship for KordaMentha.
"The court was concerned to ensure that someone was in place actively and independently managing the fund in the best interests of unitholders," Mr Winterbottom said.
"Our urgent priority is to determine the financial position of the managed performance fund and implement strategies to protect and enhance the value of the loans in the Fund.
"We will also be immediately investigating past transactions relating to the fund and vigorously pursuing any claims coming out of those transactions."
The law firm Piper Alderman, which represents a group of LM investors, said in a statement at the weekend that it was confident KordaMentha will be able to represent their interests free from any conflicts that may be associated with having the administrators of LMIM fulfil the role of trustee.
The LMPF is not to be confused with the other large LM fund, the LM First Mortgage Income Fund, which remains under the control of its responsible entity, LMIM.
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Trustees appointed to Gold Coast-based LM Managed Performance Fund

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Sydney property developer Rory O’Brien has won the right to sue Bankwest over its 2009 decision not refinance a loan for his $282 million Whisper Bay luxury development at Airlie Beach.
The clawback of the loan forced the luxury Whisper Bay development (pictured below), which counted former prime minister Bob Hawke as a buyer and promoter, into receivership in May 2009, months before it was due for on-time completion.
<img src="/images/stories/2013/04/whisperbayapril12one.jpg" width="470" height="307" alt="whisperbayapril12one">
The claim against Bankwest is also likely to shed light on the Commonwealth Bank's conduct following its acquisition of Bankwest in October 2008 and claims it unfairly foreclosed on hundreds of loan arrangements.
Yesterday, the NSW Court of Appeal overturned a decision made in May last year in favour of Bankwest's claim against O’Brien and other guarantors for payment of the balance of an outstanding loan (a sum of around $158 million) following the sale of the Airlie Beach development to David Marriner for $56 million in 2010.
The project had once been valued at more than $250 million.
The Court of Appeal also struck out the May ruling preventing O’Brien from making a counter-claim against Bankwest for breach of contract.
The counter-claim by O’Brien struck at the heart of subsequent allegations made against the Commonwealth Bank, -that it was able to negotiate a cheaper purchase price of Bankwest if there were more bad loans on the Bankwest book.
The Court of Appeal judgement notes that O’Brien had claimed that Bankwest took the steps it did “at the direction of a third party (in order that there might be a reduction in the price to be paid for the acquisition of the Bank)”.
Apartments in Whisper Bay carried price tags of between $1.5m and $6.75m.
It had achieved around $106 million in pre-sales and was due for completion in December 2009 when Bankwest issued a notice of demand for the repayment of a $180 million loan facility in May 2009.
The loan was due to mature in January.
The development was subsequently placed into receivership with around one-third of the 104 apartments in the project sold.
At the time he lost the development O’Brien said that all that still needed to be done was “put the front of the office in, the bar and the furniture".
The demand that O’Brien repay the loan came just eight months after the Commonwealth Bank acquired Bankwest for $2.1 billion in October 2008.  
This, and other demands of repayment by Bankwest, sparked a Senate inquiry led by Nationals Senator John Williams into changes in bank lending practices since the GFC.
The inquiry heard from 150 Bankwest customers, who claimed the bank unfairly and unconscionably foreclosed on their loans after the Commonwealth Bank takeover.
In August last year Property Observer reported around 120 businesses had signed up to law firm Slater &amp; potential class action for aggrieved borrowers/mortgagors against BankWest and the Commonwealth Bank.
O’Brien’s successful appeal against the May 2012 judgement, which included costs, is expected to throw further light on the conduct of Bankwest as well as details of the sale of the bank to the Commonwealth Bank.
Had the NSW Court of Appeal not ruled in his favour the earlier decision would have bankrupted O’Brien.
“We can now sue the bank for a breach of contract that their termination of our agreement was for an improper purpose and we can pursue whether or not the claw back arrangement was relevant to Rory’s case,” said his lawyer Andrew Sutherland of Russells.
The case dates back to 2006 when Bankwest entered into an agreement to provide a $175 million loan to refinance the development.
On April 6 2009, O’Brien and his Middle East business partner, Essque Hotels and Resorts received a letter of demand from Bankwest for “moneys then outstanding under the facility agreement”.
Bankwest then terminated its lending facility provided for the development and "subsequently appointed receivers and managers…and in due course the property the subject of the refinancing arrangements was sold.”
On 28 January 2011, Bankwest demanded payment from the guarantors of the balance then outstanding (after the sale of the property to Marriner) under the previous lending agreement.
In the now oveturned 2012 judgement, Justice Robert McDougall ruled that O’Brien was liable for the funds his company had borrowed.
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lschlesinger-FZcF9M3vE6

Developer Rory O’Brien wins right to battle Bankwest-Commonwealth Bank over Whisper Bay receivership

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FKP's $210 million development The Milton, which integrates transport with residential living, is currently 65% sold.
It is the first Transit Orientated Development (TOD) to be released under the South East Queensland Regional Plan.
Located near Milton railway on Railway Terrace – 1.5 kilometres from the Brisbane CBD – The Milton comprises of 298 one-, two-, and three-bedroom apartments across 30 levels.
<img alt="miltonapril12one" height="461" width="470" src="/images/stories/2013/04/miltonapril12one.jpg">
“The exciting notion of TOD has been embraced in major metropolitan centres around the world and we expect The Milton will pave the way for more TOD to be released right across the city,” says FKP Director of Developments Mark Jewell.
The complex will comprise 1,200 square metres of street level retail space, a roof top observation deck with landscaped BBQ areas and a leisure deck boasting a pool and gymnasium.
<img src="/images/stories/2013/04/miltonapril12three.jpg" width="470" height="290" alt="miltonapril12three">
Positioned on the podium level, level six, will be an exclusive Club Lounge with Armani Casa furniture.
One-bedroom apartments range in price from $410,000 to $584,000 and two-bedroom apartments range in price from $675,000 to $938,000.
One and two bedroom apartment range in size from 60 square metres to 97 square metres.
A limited number of three-bedroom apartments have just been released also starting from $675,000.
The development has currently sold 65% off-the-plan apartments, totaling $110 million.
FKP says they have been inundated with enquiries and expect sales to soar in the coming months as these enquiries translate into sales.
<a href="https://www.propertyobserver.com.au/leisure/queensland-based-dbi-design-wins-award-for-abu-dhabi-hotel-etihad-towers/2012012253088" target="_blank">DBI Design will design the Milton’s architecture and interior.</a>
<img src="/images/stories/2013/04/miltonapril12two.jpg" width="470" height="353" alt="miltonapril12two">
“Milton is just two train stops from the CBD, giving residents accessibility and convenience, reducing the reliance on cars and allowing them easy access to destinations right across Brisbane,” says Jewell.
“Milton has historically been one of Brisbane’s most sought-after suburbs and is one of the most undersupplied markets in inner Brisbane.”
“The Milton is meeting demand with its prime location, access to transport and the array of renowned restaurants, cafes and shops along Park Road,” says Jewell.
Brisbane Lord Major Graham Quirk turned the first sod on March 27.
The development is scheduled for completion in 2015.
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