<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

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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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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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
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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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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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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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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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