Australia’s housing debate has rarely been more urgent. The National Housing Supply and Affordability Council forecasts the country could fall around 262,000 homes short of housing needs by 2029, underscoring the scale of the challenge facing planners, governments and developers.

In response, much of the conversation has centred on high-density towers around transport corridors and strategic centres.

Diversified developer Coronation Property, while also focused on well-located, strategic sites, is incorporating an arguably underutilised typology, the terrace.

Difficult to integrate into true high-rise developments, terraces have become a defining feature of Coronation’s lower-rise portfolio, including projects in Ashbury and Erskineville. <a href="https://www.apartments.com.au/buildings/ashbury-terraces-165-171-milton-street-ashbury-nsw-2193">Ashbury Terraces</a> places a stronger emphasis on this housing type, forming part of a broader community mix.

At its Erskineville development, <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, terraces are more limited, with just a handful&nbsp;included within the wider, predominantly apartment-led precinct, one of the first developments to launch in Erskineville in several years.

[smartcode_project:default project_id=135149 project_image_fid=368392]

Terrace residents at Lillian benefit from many of the same advantages as apartment owners, the lock-up-and-leave lifestyle and access to shared amenities like the rooftop wellness space, but with significantly more space.

Spanning multiple levels, the terraces also feature front and rear courtyards, providing direct access to the central landscaped gardens within the precinct.

<h3 data-end="212" data-section-id="1n97jye" data-start="191">The terrace model</h3>

Terrace housing has long been part of Australia’s urban fabric. From Paddington and Surry Hills to Glebe and Annandale, rows of terrace homes have shaped neighbourhood streets, offering a housing form that sits between detached houses and apartments.

The contemporary terrace, however, addresses many of the limitations of older designs, where narrow staircases and constrained layouts often compromised liveability.

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“Terraces represent one of the city’s most intelligent housing models,” says Joe Nahas, Managing Director of Coronation Property.

“They deliver density without losing the human scale that makes neighbourhoods liveable. In many ways, they provide a bridge between the Sydney we know and the Sydney we need to build. If Sydney is going to grow well, it can’t rely on towers alone.”

<hr data-end="1090" data-start="1087" />
<h3 data-end="1124" data-section-id="1a7l0gw" data-start="1092">The evolution of the terrace</h3>

That thinking has shaped Coronation’s approach at Ashbury Terraces, where the terrace typology has been reinterpreted for modern living.

Designed by SJB, the project recently received recognition at the 2026 Better Future World Design Awards, acknowledging its architectural clarity and response to the surrounding suburban context.

SJB Director Adam Haddow says the intent was to evolve a familiar housing form rather than reinvent it.

“The terrace is one of Sydney’s most familiar housing forms, so our approach at Ashbury was to reinterpret that typology in a contemporary way,” Haddow says.

“The homes are designed to sit comfortably within the existing neighbourhood while introducing more light, landscape and shared spaces that support modern living.”

Ashbury Terraces combines terraces, apartments and penthouses across a series of low-rise buildings, integrating contemporary architecture with landscaped communal spaces and resident amenity.

That same typology is now being carried into Coronation’s Lillian development in Erskineville, where a smaller number of terraces sit within a predominantly apartment-led precinct.

<hr data-end="2269" data-start="2266" />
<h3 data-end="2289" data-section-id="cazuws" data-start="2271">Buyer response</h3>

Coronation’s decision to include terraces at Lillian was informed by strong buyer feedback from Ashbury Terraces, where purchasers were drawn to the flexibility and scale the housing type offers.

One resident, Sweta Pursem, purchased a terrace as a single buyer, citing its long-term versatility.

“As a single buyer, it might seem surprising that I chose a terrace over an apartment, but I was thinking long term,” Pursem says.

“The terraces are incredibly versatile, catering to a range of lifestyles while still offering the space and privacy of a house.”

For Pursem, the multi-level layout provides a level of functionality not typically found in apartment living.

“Having a separate living area from the bedroom and home office makes everyday living feel both functional and comfortable. When friends and family come to visit, the layout gives a sense of privacy while still feeling open and spacious.”

Her terrace also supports a more connected, lifestyle-driven way of living.

“I love entertaining, and the courtyard is ideal for relaxed weekend drinks with friends. I tend to use each level differently throughout the day, it creates a natural rhythm between work, downtime and entertaining, which I didn’t have in apartment living.”

Ashbury Terraces is now complete and ready to move in, while Lillian in Erskineville is under construction and expected to welcome residents in mid-2027.

Joel Robinson

Coronation champions terraces as a key piece of Sydney’s housing mix

Private equity real estate firm Conquest has entered into a $220 million partnership with Woolworths’ development arm, Fabcot, to deliver its long-awaited Waterloo project on Bourke Street.

The Bourke Street development was first flagged by Fabcot back in 2021 as part of its push into Sydney’s residential market. However, progress has since stalled, with no activity on site amid a number of design revisions in consultation with the City of Sydney.

<a href="https://www.apartments.com.au/developers/conquest">Conquest</a>, which is actively planning more than $6 billion worth of new developments, predominantly mixed-use precincts, is now set to move the project forward.

The current plans include between 110 and 120 apartments across two buildings designed by Bates Smart at <a href="https://www.apartments.com.au/new-apartments/923-935-bourke-street-waterloo-nsw-2017">923 Bourke Street</a>. The scheme will incorporate a portion of apartments reserved for key workers, alongside premium commercial space at ground level, including a full-line Woolworths supermarket.

Construction is expected to commence in the second half of 2026.

Michael&nbsp;Akaawi, CEO of Conquest, said the partnership reflects the firm’s commitment to "convenience-led" urban renewal."

"We are preparing to commence construction in the second half of this year," Akaawi says.

"Along with Woolworths, we look forward to delivering the first major supermarket to the growing Waterloo community, integrated with premium new apartments and specialty retail shops. Our focus is on creating a seamless lifestyle hub where essential services are at the doorstep, saving residents time and enhancing their quality of life."&nbsp;

<img alt="Conquest" data-entity-type="file" data-entity-uuid="d8beee83-ef9b-446b-a3b3-1e2fe596512b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-01%20at%2011.08.46%E2%80%AFAM.png?VersionId=raYhGepiLUJfx4InLPRRJduA3ftDJ_kS" />

The news comes just a week after Conquest went to the NSW Government to upsize its plans for Castlecrag's Quadrangle Shopping Centre.

Conquest purchased the site for just shy of $70 million last year, with existing plans in place for a mixed-use residential and retail precinct comprising 38 luxury apartments.

Those plans have now been significantly expanded, with the developer lodging a State Significant Development Application with the NSW Government’s Housing Delivery Authority for 150 apartments across two 11-storey buildings. The apartments will sit above a four-storey podium, incorporating specialty retail tenancies and five levels of basement car parking, on the 5,166 sqm site at&nbsp;<a href="https://www.apartments.com.au/new-apartments/100-edinburgh-road-castlecrag-nsw-2068">100 Edinburgh Road</a>.

Conquest has been increasingly active in the development space in recent years. The group acquired the&nbsp;<a href="https://www.apartments.com.au/developments/eastlakes-nsw-2018">Eastlakes</a>&nbsp;Shopping Centre redevelopment, where it plans to deliver more than 1,000 apartments above a new retail precinct, and has also lodged a $900 million State Significant Development Application for a&nbsp;<a href="https://www.apartments.com.au/news/nsw/conquest-unveils-900m-stanmore-village-vision-for-landmark-inner-west-site">mixed-use precinct in Stanmore</a>.

Conquest partners with Woolworths to deliver mixed-use Waterloo project

A shift away from Sydney’s industrial past has left parts of the inner south defined by contrast, brick warehouses repurposed into dining precincts, former factory streets softened by landscaping and pedestrian activity.

Rosebery is one of those suburbs. Over the past decade, it has undergone significant gentrification, anchored by The Cannery, which has helped reposition the area as one of the inner city’s most sought-after lifestyle pockets.

What hasn’t kept pace with that transformation is new residential supply, which has remained relatively limited. Builder-developer Deicorp identified that gap early, securing a site in 2019 and delivering what is now one of the suburb’s most architecturally distinctive developments.

To realise the vision, Deicorp engaged Candalepas Associates to design The Rothschild, a project that is immediately recognisable from the street.

Completed in 2025, The Rothschild comprises two buildings across Rothschild and Mentmore Avenues, delivering 176 apartments. The development replaces a former industrial site, retaining a material and structural dialogue with its past while introducing a more resolved residential framework. The scale is deliberate but not monolithic, broken into forms that engage both street frontages, with retail at ground level and two levels of basement parking below.

[smartcode_project:default project_id=106843 project_image_fid=221665]

From the street, the architectural intent is clear. Off-form concrete columns run through the façade, establishing a repeated structural rhythm that gives the building its visual weight. These are paired with deep-set arches and sections of exposed brickwork, creating a layered elevation that reads less like a typical apartment block and more like a reinterpretation of industrial architecture.

The material palette is intentionally restrained, with concrete left exposed and brick used to define mass rather than decoration. The result is a building that stands out through proportion and repetition, rather than height or glazing.

This approach continues internally. A central landscaped courtyard sits between the two buildings, anchored by an olive grove that acts as both a visual and spatial focal point. Rather than functioning as residual space, the courtyard is designed as a shared ground plane, where circulation paths, seating areas and planting come together to create a usable communal environment. Its positioning allows natural light to penetrate deep into the site while maintaining separation between residences.

[smartcode_project:default project_id=106843 project_image_fid=221666]

Within the apartments, the planning follows a clear and functional logic. Entry points lead directly into open-plan living areas, with kitchens positioned as central elements alongside dining and lounge spaces. These zones extend to balconies or external openings, maintaining a visual connection to either the courtyard or the street.

Kitchens prioritise practicality, with generous bench space, ample storage and European appliances configured for everyday use. Bedrooms are typically set back from the main living areas, creating quieter zones within each residence, with separation achieved through layout rather than material change. Bathrooms are compact but efficient, incorporating mirrored cabinetry and integrated storage to maximise space. Across all residences, the emphasis is on clarity of movement and functional planning.

[smartcode_project:default project_id=106843 project_image_fid=221669]

At ground level, retail and hospitality uses extend the building’s presence beyond its residential function. A café or restaurant space, alongside communal amenities such as a music room and rooftop areas, positions the development as part of a broader urban network rather than a standalone project. These shared spaces reinforce a lifestyle where the building operates as an extension of the surrounding neighbourhood.

Rosebery’s proximity to Green Square, The Cannery and nearby parklands supports this model of living, where much of daily life is within walking distance. The Rothschild sits comfortably within that network, contributing to the streetscape through its distinctive architecture, while internally organising space around light, structure and communal use.

The Rothschild is now complete and ready to move in, with limited residences remaining.

[smartcode_project_cta:default project_id=106843]

The Rothschild reinterprets Rosebery’s industrial DNA into residential form

KTQ has unveiled&nbsp;<a href="https://www.apartments.com.au/new-apartments/casilia-16-marine-parade-coolangatta-qld-4225">Casilia</a>, the final residential release within the Kirra Point precinct which really kicked off the boom in the area back in 2019.

The final stage comprises&nbsp;87 residences and marks the culmination of a long-term, family-led vision for Kirra Point, as the precinct moves toward completion in tandem with the development.

Around $100 million in sales have been achieved already, close to 35 per cent of the residences secured ahead of launch. There have been a significant number of buyers returning from the first stage of the development, Miles Residences, securing another property within Kirra Point.

[smartcode_project:default project_id=152295 project_image_fid=368410]

Selling agent Tim Keenan from Keenan Byrne said the response reflects both the scarcity of the offering and Kirra’s growing reputation as a premium coastal market.

“This is effectively Kirra’s final act, the last release within what has become one of the Southern Gold Coast’s most tightly held beachfront precincts,” Keenan said.

“We’ve seen exceptionally strong pre-sale interest, from VIP waitlists through to off-market enquiry, which speaks to both the quality of the product and the confidence buyers have in the precinct. What’s particularly compelling is the number of buyers returning from Miles, either upgrading or investing again, which is a strong signal of how the precinct has been received."

Keenan adds that at the same time, north-facing beachfront remains exceptionally rare in Australia, limited to places like Noosa, Byron and Kirra, which is underpinning long-term value.

[smartcode_project:default project_id=152295 project_image_fid=368415]

Positioned along one of Australia’s few true north-facing beaches, Casilia offers a mix of two and three-bedroom residences with pricing ranging from $1.87 million to $7.15 million and two exclusive penthouses. Residences are oriented to capture varying outlooks, from uninterrupted Pacific Ocean views across Kirra Beach to hinterland vistas, with upper levels and shared amenity taking in sweeping perspectives along the Gold Coast coastline.

At rooftop level, a north-facing pool deck captures expansive, uninterrupted views over Kirra Beach and north towards Surface Paradise. The space incorporates a heated resort-style pool, mineral spa, sun lounges and a covered BBQ cantina.

Buyer profiles are broad, typically aged between 40 and 70, with a strong skew toward second-home ownership, drawn by a combination of lifestyle, relative value, proximity to Gold Coast Airport and lower congestion compared to more established markets such as Byron Bay and Noosa.

[smartcode_project:default project_id=152295 project_image_fid=368414]

The project is being delivered by <a href="https://www.apartments.com.au/developers/ktq-group">KTQ Group</a>, a family-owned Australian property group with a diverse portfolio spanning residential, hospitality and commercial developments. The group has delivered a number of notable projects across sectors, including the award-winning Elements of Byron resort, demonstrating its depth of experience across both hospitality and residential development.

Known for its long-term approach to place-making, KTQ Group retains a vested interest in its projects, often holding assets within its portfolio, which has also helped build trust among buyers and reinforced confidence in both the vision and delivery certainty of the precinct.

“Casilia represents the final opportunity to secure a residence within Kirra Point and brings to market the last release within our long-term vision for the precinct," KTQ Group's Jeremy Holmes said.

"Kirra Point has been more than a decade in the making, and that timeframe reflects the care behind each decision, it takes listening, balance and vision to arrive at something that feels right for the location.

“Our approach has always been to deliver Kirra Point as a destination in its own right, a connected coastal neighbourhood integrating residential, hospitality and wellness, rather than a standalone project. It’s a vision that respects place, pace and permanence, and contributes to a sense of community that feels authentic to Kirra.”

[smartcode_project:default project_id=152295 project_image_fid=368411]

Once complete, the Kirra Point masterplan will incorporate a mix of dining establishments, bars and cafés, alongside the Kirra Point Health Club and a future 91-room independent resort hotel, creating a walkable, integrated lifestyle precinct.

Architecutue and interiors at Casilia have been designed by the experienced design houses of <a href="https://www.apartments.com.au/architects/little-boat-projects">Little Boat Projects</a> and O’Neil Architecture &amp; Interior Design, The design moves beyond the conventional coastal apartments, instead taking cues &nbsp;from the surrounding landscape - layering natural materials, soft curves and warm textures to create spaces that respond to light, airflow and the rhythms of coastal living.

Residences are designed with an array of floorplates, generous proportions and intuitive flow, while at ground level Casilia connects into the broader precinct, where future laneways, retail and hospitality offerings will contribute to a neighbourhood defined as much by how people live day-to-day as its beachfront position.

[smartcode_project_cta:default project_id=152295]

The final residential release within the Kirra Point masterplan is set to launch, as strong pre-sales signal sustained demand for the Southern Gold Coast

A decade in the making: KTQ launches Casilia at Kirra Point

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]

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

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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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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FKP's $210 million development The Milton starts construction with renewed buyer interest

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A 27 square metre serviced apartment in South Brisbane promising returns of around 7.5% is being offered for sale aimed at self-managed super fund investors. 
Located at 42 Montague Road  and close to the Suncorp Stadium, it is managed by corporate accomodation operator AHR Group.
It is listed for $160,000 with a new 10-year lease is in place. 
The building currently operates as Riverside Hotel Southbank.
Facilities include hotel-style accommodation as well as an outdoor swimming pool. Body corporate and repair costs are borne by the manager. 
According to RP Data, another 27 square metre unit in the building sold in December last year for $153,250. In the same month, another 27 square metre unit sold for $160,000. 
“Annual net rental of $12,000 is guaranteed by the management rights operator AHR group,” George Koukides, the First National – Commercial listing agent said.
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SMSF serviced apartment investment opportunity in South Brisbane offers 7.5% return

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A “steady stream” of investors are adding their names to what could become a Slater &amp; Gordon class action against financial planners who recommended they invest in mortgage funds issued by collapsed Gold Coast-based fund manager and developer LM Investment Management (LMIM).

Slater &amp; Gordon had already issued legal proceedings against financial advisors on behalf of a number of those investors and says more proceedings will be issued in coming weeks.
LMIM was placed into voluntary administration last month with initial reports suggesting there may be <a href="https://www.propertyobserver.com.au/developments/irregularities-suspected-in-lmim-s-maddison-estate-mortgage-fund-reports/2013040160117" target="_blank">irregularities in how some of the funds operated</a>.
Administrators John Park and Ginette Muller from FTI Consulting have applied to become the receivers of the $400 million LM Managed Performance Fund, which has the $1 billion Maddison Estate on the Gold Coast as its primary investment asset. The application has the backing of ASIC, The Australian Financial Review reported.
Another Gold Coast residential development backed by the same LMIM fund, the 271-unit Rhodes apartment development (pictured below) on Mount Cotton Road at Capalaba is caught up in the collapse of LMIM.
<img alt="lmimapril10one" src="/images/stories/2013/04/lmimapril10one.jpg" width="470" height="264">
Last week administrators revealed the business lent its founder, Peter Drake, a loan worth $17 million.
Slater &amp; Gordon commercial litigation lawyer Mark Walter has told Property Observer the firm continues to field inquiries from investors and is confident of commencing proceedings in the “near future”.
The exact form they will take has not been decided but it could a class action with Slater &amp; Gordon specialists in this area.
Previous class actions have included litigation on behalf of investors against financial planners who recommended investments in Basis Capital Funds; a fund linked to the US sub-prime market, Premium Income Fund and collapsed Gold Coast property and financial services group MFS.
 
<hr class="system-pagebreak">
Walter says some investors have up to $1 million invested in LMIM mortgage funds, but have little prospect of getting any of their money back.
Instead investors will seek to reclaim their money from financial advisers – LMIM used as many as 250 different financial advisory firms.
“Any advisor needs to have a reasonable basis for their recommendations,” says Walter.
He says the timing and the circumstances of these recommendations have been called into question with queries about the appropriate of recommending these product types for investors.
“Planners are required under the corporations act to be able to match up their recommendations with their clients’ objectives,” he says.
Walter warns that a six-year time limit generally applied for anyone wanting to sue, meaning anyone who invested in 2007 during the pre-GFC boom period needed to obtain immediate legal advice.
“We believe there is a large number of viable claims against financial advisors who recommended this and other high-risk products that will be affected by the time limit,” Walter says.
“It's important that people exercise their right to hold their advisors to account and seek legal advice before it is too late.
“We have found that funds like LM were particularly popular among financial planners in communities where there are large populations of retirees with money to invest.
“The people we are talking about are typically risk averse and conservative and have relied on the professional advice of financial advisors to invest in these funds. It is debatable whether these funds were appropriate for them given their conservative needs.”
Another law firm, Piper Alderman, has also been assisting unit holders who invested in the LM First Mortgage Fund in respect of a class action.
Piper Alderman partner Amanda Banton and her team are investigating claims against the responsible entity of the Fund, LM Investment Management Limited, its directors and other third parties, including advisors, associated with the fund’s demise with a view to bringing a class action or any other appropriate action.
“Those actions will seek to recover the losses sustained by unit holders, many of whom are elderly persons who invested their life savings,” says Piper Alderman.
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Angry investors line up to sue financial planners who spruiked LMIM mortgage funds

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Foreign buying expenditure in Queensland soared past the 10-year average with a total of $443.5 million spent on residential property during the last financial year, according to the latest Foreign Investment in Queensland Residential Property report by Colliers International.
This is an expenditure increase of 33% from the previous financial year, with 67% of property bought for investment purposes and the other 33% owner-occupiers.
Gold Coast continues to dominate as the top choice with $237.1 million spent last financial year – an increase of 43% from the previous financial year.
China is the dominant buying country for the third consecutive year, with its buyers spending a total of $184.9 million.
China accounted for 42% of total foreign purchases in Queensland and its buyers increased their spending by 73% from the previous financial year.
The report noted that 72% of Chinese buyers bought for investment purposes while the other 28% bought as owner-occupiers.
The report also noted that Chinese buyers preferred to purchase in the Gold Coast.
Singapore comes in second place with a total expenditure of $29.24 million on residential property in Queensland over the past financial year.
This is an increase of 150% on spending by Singaporean buyers from the previous financial year, but well below their peak in the 2002/2003 financial year of $54 million.
Gold Coast was the top choice for foreign investment by Singapore buyers.
However, the United Kingdom dominates the foreign buyers list for the past ten years, over which time its buyers have spent a total of $687.5 million.
The report notes that foreign purchasers from the United Kingdom prefer to invest in Brisbane.
Brisbane ranks as the second top foreign investment location with a total of $135.9 million spent across 298 residential transactions over the past financial year.
Although buyers from United Kingdom favour Brisbane as a foreign investment location, China dominated spending in Brisbane over the last financial year with $62.6 million spent.
Of the 298 residential property transactions that took place during the last financial year in Brisbane, 51% of purchases were for investment purposes and the remaining 49% were for owner-occupation.
Buyers from the United Kingdom spent $8.6 million over 22 transactions in Brisbane last financial year.
The report says the easing of interest rates and stable economic conditions should see the current level of investment by foreign nationals continue.
It is also noted that China will continue to dominate the Queensland residential property market as the state is seen as a safe haven which offers diversification for property investors from China.
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Gold Coast top choice in Queensland for foreign investors

<html><body>Australian Property Monitors (APM) has released a list of results from auctions in Brisbane for the weekend of April 6. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Brisbane.pdf" target="_blank" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's Brisbane auction results

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A Gold Coast brothel that was formerly owned by bankrupted Gold Coast entrepreneur Ken Lacey was passed in at auction last Wednesday despite strong interest from investors.
The glitzy brothel was passed in on a vendor bid of $1.5 million with no bids from the five buyers present at the auction.
Ray White agent Sam Johnson says he expects the premises to sell within a few weeks.
“We’re dealing with about eight people now. The hottest buyers in the room weren’t in the position to buy it at auction. They needed approval for more financing,” Johnson says.
“If bidding had started they might have chucked their hand in the air to make sure it didn’t sell.”
It’s now on the market for $2 million.
Johnson expects the property to rent for around $180,000 per year, which would give potential investors a 9% gross yield.
Johnson says all interested parties were interstate investors.
The property at <a target="_blank" href="https://www.propertyobserver.com.au/https://www.raywhitecommercial.com.au/nsw/chinderah/786190">31-33 Morton Street Chinderah</a> is a 568-square-metre two-level building with current approval for a 24-hour brothel formerly known as Lacey’s Club Lace bordello.
{yoogallery src=[images/stories/2013/03/march20lacey]}
The property was originally developed by Ken Lacey for his incarcerated sons.
Johnson says Lacey has since withdrawn from the sex industry.
“The property certainly has a colourful history as a previous owner of the brothel Victor Elliott was gunned down there in a contract killing in 2000,” Johnson says.
The brothel contains a kitchen, a laundry, an office, five bedrooms with ensuites on the ground floor and a large entertainment area on the first floor with a kitchen and private function rooms.
The bedrooms include luxury beds with red and white wall themes, hanging picture frames, and a complementary bath or spa.
The property also includes two large warehouses, an office and a hardstand.
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Bidders look but don’t touch at Ken Lacey  brothel auction

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House prices grew spectacularly in the rural Queensland town of Wandoan on the back of mining activity in the area with yields as high as 22.2% being touted, but recent reports suggest the biggest project in the area may not go ahead.
<a target="_blank" href="/news">Wandoan</a>, 300 kilometres northwest of Brisbane in the Surat Basin, had the highest price growth of any rural suburb in Australia, according to Residex’s February data. It says the median house price grew 29.95% for the year ending February.
<img src="/images/stories/2013/04/wandoanapril4three.jpg" width="470" height="295" alt="wandoanapril4three">
Mining company <a target="_blank" href="/companies/xstrata">Xstrata</a> was due to develop the biggest coal mine in the southern hemisphere just west of Wandoan, but a proposed merger with commodities company Glencore has put those plans in jeopardy.
Glencore is in negotiations with the Chinese government to approve its $35 billion acquisition of Xstrata. If it goes ahead it will make it the world’s fourth largest diversified mining company and the largest commodities trader.
Glencore chief executive Ivan Glasenberg recently told investors the merged company would be avoiding greenfield projects.
“Greenfields are risky. Greenfields do have capital overruns. Greenfields do have delays which kill the NPV (net present value) on those projects,'' he told investors in London.
That means the $7 billion Wandoan thermal coal mine now hangs in the balance.
It has been on the cards since 2007 but has faced numerous setbacks including pressure from local landowner disputes. It has yet to receive final approval.
If developed, the mine is expected to produce 30 million tonnes of coal a year.
According to RP Data, the median house price in Wandoan is $365,000, increasing 15.9% over the last year. The median asking rent is $600 per week, giving an indicative gross yield of 8.5%.
According to ABS census data, the suburb has a population of 655 people with 450 private dwellings, 35% of which are unoccupied. Most dwellings are three or four-bedroom houses.
 
<hr class="system-pagebreak">
Listings on online real estate portals for properties in Wandoan reveal 51 properties up for sale, made up primarily of residential land and houses.
A fairly basic three-bedroom property on 857 square metres at <a href="https://www.realestate.com.au/property-house-qld-wandoan-113302443">9 Hoffman Street</a> is listed for sale at more than $300,000. The property is marketed as “mining accommodation” and has an advertised rental return of $500 to $600 per week, giving a potential gross yield of 10.4%.
A three-bedroom timber home on 809 square metres at <a href="https://www.realestate.com.au/property-house-qld-wandoan-112443951" target="_blank">24 Weldon Street</a> (pictured below) is listed at $380,000. According to RP Data the asking price has dropped from $420,000 in January. It was last listed for rent at $450 per week in 2010.
<img src="/images/stories/2013/04/wandoanapril4one.jpg" width="470" height="352" alt="wandoanapril4one">
And a three-bedroom house marketed with potential as accommodation for work crews at <a href="https://www.realestate.com.au/property-house-qld-wandoan-108220306" target="_blank">16 Hoffman Street</a> is listed at $350,000. According to RP Data the 809 square metre property last traded for $68,000 in 2005.
A <a href="https://www.realestate.com.au/property-residential+land-qld-wandoan-200535939" target="_blank">602-square-metre block of residential land</a> is listed at $242,000 or $402 per square metre.
And a <a href="https://www.realestate.com.au/property-residential+land-qld-wandoan-200475019" target="_blank">500-square-metre block</a> (pictured below) on the same lane is listed at $250,000 or $500 per square metre.
<img alt="wandoanapril4two" height="353" width="470" src="/images/stories/2013/04/wandoanapril4two.jpg">
LJ Hooker agent Mark Robinson, based in Brisbane, has a number of properties in the area listed for sale including two big mining accommodation developments.
He says prices are going up in the town, driven by a massive undersupply of accommodation.
Accommodation is taken up by workers from a number of projects in the area, particularly the $1.4 billion water pipeline to Dalby.
Robinson says big companies are winning contracts in the area but are unable to house workers in the town which has driven rents up massively.
“The problem is Wandoan is there’s not enough accommodation. That’s basically it,” Robinson says.
He says even if the Xstrata project doesn’t come online there is still strong demand from other projects.
“It’s on the border of the Surat Basin. The whole thing up there is getting driven by coal-seam gas which gets piped to <a target="_blank" href="https://www.propertyobserver.com.au/queensland/gladstone-property-market-cooling-with-some-20-price-corrections-htw/2013010858637">Gladstone</a>,” Robinson says.
“Xstrata have merged but coal prices are still good. You’ve got Gina Rinehart up there. You’ve got a lot of action around the area. You’ve only got to look at Mooloomba to see what happens to a town that needs accommodation.”
One of the developments Robinson is selling is a series of new five-bedroom houses built specifically to house miners.
The six properties sell for $820,000 each and Robinson says each property could earn a staggering $3,500 per week for short-term tenants. That’s a potential gross rental yield of 22.2%.
“It’s a changing space up in these mining places. It’s a work in progress. I don’t think anyone has estimated how many people will come in if everything comes online,” Robinson says.
“I think it’s definitely an investment hotspot.”
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Queensland mining hamlet Wandoan records 30% house price growth in one year: Residex

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There has been some pick-up in the Gold Coast property market, but it still takes almost six months on average to sell a residential property, according to the latest market update from Australian Property Monitors (APM).
Average days on market on the Gold Coast have reduced from 184 a year ago to 173 as of February 2013 - the long-term average is 130 days.
The average discount required to sell a property has also reduced marginally from 11.6% to 10.3% and is approaching the long-term average of 9.7%
According to APM, there are 11,000 properties listed for sale on the  Gold Coast, nearly 20% less than a year ago, but still 1.5% higher than the long-term trend.
"High levels of unsold properties will remain a drag on a sustained Gold Coast housing market revival in 2013," says APM.
"This is particularly the case for the unit market, which continues to suffer from high listing numbers with prices down by 1.6% over the December quarter and down 7% over 2012.
"The local economy however is doing its part, with the latest unemployment rate recorded by the ABS over January at 5.8% compared to the 6.7% of January 2012.
<img src="/images/stories/2013/gold_coast_days_on_market.gif" width="565" height="431" alt="gold_coast_days_on_market">
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Gold Coast properties still taking nearly six months to sell: APM

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The family-friendly Zagame's Paradise Resort in Surfers Paradise has been listed for sale, with current owners seeking $70 million.
Located on Ferny Avenue, the current vendors purchased the resort in late 2010 for over $38 million.
Over the past three years, the 358-guest room resort has undergone an extensive refurbishment to now include a <a href="https://www.propertyobserver.com.au/leisure/new-wet-n-wild-waterpark-for-prospect-in-sydney-s-west/2012100256951" target="_blank">water park</a>, ice skating rink and room upgrades.
The resort sits on approximately 2.49 hectares. Its owners have grown the resort's net income from $1.5 million in 2010 to a forecasted $4.45 million this financial year.
The sale comes with development approval for stage one of a four-stage master plan.
Stage one approval includes plans for a 30-storey 447-bedroom residential development for a 6,710-square-metre portion of the site that has been cleared.
The master plan comprises of a four tower mixed use development of 2,476 bedrooms and 7,080 square metres of retail and commercial space.
“We believe that the property will be attractive to a wide group of potential buyers because it is unique in that it is the best income producing development site on the Gold Coast,” says Will McVay of McVay Real Estate.
McVay says he has received a great deal of interest from both domestic and international parties.
The property <a href="https://www.mcvayre.com.au/for_sale/paradise_resort/" target="_blank">has been listed</a> by Will McVay and Sam McVay of McVay Real Estate, with EOI closing April 8.</body></html>

Zagame's Paradise Resort in Surfers Paradise listed

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Brisbane is on track for a property market recovery in 2013 driven by strong employment and population growth coupled with a supply shortage and rising rents, according to John McGrath’s autumn property report.
A noticeable increase in buyer enquiries in the last quarter of 2012 bodes well for 2013, which McGrath says will act as a springboard for 2014 and 2015.
As first-home buyers have dropped off, investors from Sydney, Melbourne and locally are filling some of the void.
Buyers are particularly drawn to sub-$500,000 apartments and townhouses in <a target="_blank" href="/news">Toowong</a>, <a target="_blank" href="/news">St Lucia</a> and <a target="_blank" href="/news">Paddington</a>, with strong yields and low vacancy rates.
“The typical local upgrader is swapping a two bedroom workers’ cottage worth $600,000-$800,000 for a $1M-plus Queenslander. There’s not a lot of cross-town moving, as low interest rates and good value prices are enabling people to buy a larger home in inner city areas where they already live,” McGrath writes.
McGrath says downsizers remain active with many selling $1 million-plus family homes and buying a smaller $700,000 property and then reinvesting the remaining cash.
McGrath tips <a target="_blank" href="/news">Hawthorne</a>, Toowong and <a target="_blank" href="/news">West End</a> as top picks for investors in Brisbane.
“Hawthorne has undergone a huge transformation with the emergence of lifestyle amenities, food markets and café culture that’s attractive to families and young professionals. Watch this space as home renovators move in,” McGrath writes.
“Toowong, just 4km from CBD and less than five minutes to the St. Lucia campus, it’s attracting an investor market who want to capitalise on the demand from young professionals and students.
“West End is an urbane suburb with great café culture, it has that real inner-city feel. Close proximity to Southbank, there is a surge of development attracting both investors and owner-occupiers.”
</body></html>

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