Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

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For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

Joel Robinson

ALTA Property to deliver $200 million Queens Road apartment tower

Construction is set to begin at <a href="https://www.apartments.com.au/new-townhouses/orchard-mews-glen-iris-18-scott-grove-glen-iris-vic-3146">Orchard Mews</a> in Glen Iris, with&nbsp;PC Whitehall &amp; Sons&nbsp;now appointed as the townhome development moves into its next phase.

The development by&nbsp;<a href="https://www.apartments.com.au/developers/montcoeur">MontCoeur</a>,&nbsp;located at 18 Scott Grove, is now around 30 per cent sold, with completion targeted for late-2027.

Orchard Mews comprises a curated collection of three- and four-bedroom customisable townhomes, positioned within one of <a href="https://www.apartments.com.au/developments/glen-iris-vic-3146">Glen Iris</a>’ more tightly held residential streets. The low-density project has been designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo</a>, bringing together a team known for high-end residential projects across Melbourne.

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The development is defined by its focus on flexible living and long-term usability. Each residence includes multiple living zones and a customisable multipurpose room, allowing buyers to tailor spaces to suit changing needs, whether as a home office, additional bedroom, wellness area or entertainment space.

Architecturally, the townhomes emphasise natural light and spatial volume, with dual-aspect layouts and double-height living areas incorporated into the design. Interiors feature natural stone benchtops, premium appliances, and a neutral material palette intended to support everyday functionality rather than statement-driven finishes.

All residences are all-electric and include private lifts and secure double garages, reflecting a broader shift toward sustainability and future-focused housing in Melbourne’s established suburbs.

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Outdoor connections are also central to the offering, with a mix of private courtyards and terraces extending internal living spaces and integrating with the landscaped surrounds.

The Scott Grove address places Orchard Mews within close proximity to some of Melbourne’s key lifestyle and education amenities, including Scotch College, Sacré Cœur, Cabrini Hospital and the retail hub of Chadstone. Public transport access is also nearby, with trams and Gardiner Station providing connectivity to the CBD and surrounding suburbs.

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Construction to commence at luxury Glen Iris townhome project, Orchard Mews

A rare new apartment development has been proposed on the fringe of St Ives Village.

Developer Newquest Property has lodged plans for a low-rise apartment project designed by well-regarded architecture firm Warren &amp; Mahoney, which is best known for its work in the multi-residential sector in Melbourne.

The building, proposed for a 1,916 sqm site on <a href="https://www.apartments.com.au/new-apartments/st-ives-residences-3-5-memorial-avenue-nsw-2075">Memorial Avenue</a> opposite St Ives Village Green, has been designed to blend into the surrounding natural environment.

<img alt="St Ives" data-entity-type="file" data-entity-uuid="5c1c7437-2fba-4345-a6d7-05321714ad3e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.28.46%E2%80%AFPM.png?VersionId=KrYyMaJvNqR7vbx0xbB3Ef8sJ6FuHpmn" />

“Drawing inspiration from the pale trunks and flowering canopies of the scribbly gums and blue gums prevalent in the area, a considered material palette was developed,” the architectural design report states.

“This palette references the established materiality of the suburb while elevating it through refined finishes to achieve a more luxurious architectural expression.”

Of the 33 apartments proposed, 21 will be three-bedroom residences. The remaining mix includes nine two-bedroom apartments, one one-bedroom apartment and two four-bedroom residences. The development will be supported by 62 car parking spaces and 33 secure bicycle spaces.

The proposal would replace two single-storey brick buildings currently on the site.

<img alt="St Ives" data-entity-type="file" data-entity-uuid="21422eaf-09a9-4439-9278-b9bd9daf22a1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.38.10%E2%80%AFPM.png?VersionId=v.fXSgcUcEscvOZzqcjG5nk3gVqk_Amt" />

St Ives remains a relatively untapped market for new apartment development. North Shore developer WINIM has a number of projects in the area, while INCA is nearing completion of Ellis Residences.

More recently, Traders In Purple has lodged plans for one of the denser projects proposed in the suburb, a 75-apartment development on a 5,900 sqm site on Cowan Road.

NewQuest, a construction, design and development firm, has delivered over 24 projects across commercial, residential, industrial, and lad markets.&nbsp;

&nbsp;

&nbsp;

First look: NewQuest Property proposes new St Ives apartment development

<a href="https://www.apartments.com.au/developers/centa-property-group">Centa Property Group</a> has achieved two major milestones at its <a href="https://www.apartments.com.au/new-apartments/bilinga-house-107-golden-four-drive-bilinga-qld-4225">Bilinga House</a> apartment development in the sought-after southern Gold Coast.

They've almost sold 50 per cent of the Golden Four Drive building, while at the same time announcing the commencement of construction through reputable builder Greyburn Construction.

The boutique 10-storey building, with 47 two- and three-bedroom apartments, now has a mid-to-late 2028 completion date.

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The <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed project is positioned just 200 metres from Bilinga Beach and brings a relatively rare apartment offering to a market that has seen limited new supply in recent years.

Residences have been designed to maximise natural light and ventilation, with open-plan interiors, generous glazing, and material palettes that reflect the surrounding coastal landscape.

Interiors incorporate engineered timber flooring, stone benchtops, and custom joinery, with layouts designed to adapt to both permanent living and lock-and-leave use.

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Rothelowman Senior Project Leader Matthew Tencate said the design approach centres on liveability and community.

“Providing curated on-site amenities and communal spaces for residents that facilitate a sense of community, liveability, and wellness,” Tencate said.

Residents will have access to a suite of private amenities including a pool, gym, sauna, and communal alfresco areas, alongside practical features such as surfboard storage and bicycle facilities.

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Centa Property Group Director Jason Yuen said the project has been designed to appeal to a range of buyers seeking flexibility in how they use their property.

“Bilinga House is designed for those who want the best of both worlds – a modern beachside escape with the flexibility to generate income when you're not there,” Yuen said.

[smartcode_project:default project_id=150037 project_image_fid=5338]

Bilinga remains one of the quieter pockets of the Gold Coast, sitting between the more established hubs of Coolangatta and Palm Beach. Its appeal has strengthened in recent years, supported by proximity to the Gold Coast Airport and the Oceanway coastal path.

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Bilinga House apartments snapped up as Greyburn commences construction

Breaking into the Sydney property market has long felt out of reach for many first home buyers, particularly as median house prices sit above $1.6 million and unit prices push beyond $900,000.

But entry points still exist in pockets of Greater Western Sydney, where pricing, government incentives, and product mix are aligning to make ownership more attainable.

Understanding where those opportunities sit, and how the numbers actually stack up, is becoming increasingly important for buyers weighing up their next move.

<h2>Work out what you can actually afford</h2>

Sydney is expensive, but it isn’t uniformly expensive. The Greater Parramatta region continues to offer comparatively accessible entry points, particularly for buyers open to alternative configurations like studios.

There's an assumption that a first home needs to be a certain size, that anything smaller than a one-bedder is a concession rather than a choice. That assumption doesn't hold up against what well-designed studios in the right location actually offer: immediate liveability, strong urban amenity, and a price point that makes the deposit target realistic rather than theoretical.

At <a href="https://www.apartments.com.au/buildings/mason-main-merrylands-249-259-merrylands-road-merrylands-nsw-2160">Mason &amp; Main</a>, <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>'s multi-award winning precinct in Merrylands, studio apartments are unlike the typical studio configuration.

Starting from $498,000, the bedroom is fully enclosed, separated from the living area by a cavity sliding door, creating a genuinely private sleeping space that functions more like a one-bedroom apartment than a traditional open-plan studio.

[smartcode_project:default project_id=31751 project_image_fid=359814]

At 42 sqm internally, with an open-plan kitchen, built-in robes, modern bathroom, and separate laundry, the apartments are designed for everyday liveability rather than short-term use.

With a five per cent deposit under the Federal Government's First Home Guarantee, that equates to a deposit of around $24,200, achievable for many first home buyers without the added cost of Lenders Mortgage Insurance.

<h2>Understand the real cost of renting versus buying</h2>

For buyers weighing up the shift from renting to owning, the numbers are closer than many expect.

Here’s how the numbers stack up for a studio at Mason &amp; Main (based on a $498,000 purchase):

<ul>
	<li>Purchase price: $498,000</li>
	<li>Five per cent deposit (First Home Guarantee): ~$24,900</li>
	<li>Loan amount: ~$473,100</li>
	<li>Estimated mortgage repayment (6.29% variable, 30-year term): ~$675–$695/week*</li>
	<li>Estimated rental return: $590–$620/week*</li>
	<li>Rental yield: 6.16% - 6.47%</li>
</ul>

At this level, the gap between renting and owning is relatively narrow, particularly when factoring in long-term equity, with rental returns also making the apartments a viable option for investors.

The rental range reflects current asking rents for remaining studio stock in the development and, based on prevailing asking prices, equates to an indicative gross rental yield of up to 6.47 per cent.

For buyers seeking more internal space, Mason &amp; Main also offers a range of one-bedroom apartments from $629,000, alongside larger one-bedroom plus multipurpose room configurations priced from $680,000 - all priced under $800,000 and eligible for first home buyer incentives.

<ul>
	<li>Purchase price: $629,000</li>
	<li>20 per cent deposit: ~$125,800 (5% deposit on exchange: $31,450)</li>
	<li>Loan amount 80%: ~$503,200</li>
	<li>Estimated mortgage repayment: ~$720–$740/week*</li>
	<li>Estimated rental return: $650–$680/week*</li>
	<li>Rental yield:&nbsp;5.37% - 5.62%</li>
</ul>

One-bedroom apartments continue to present a balanced option for both owner-occupiers and investors, supported by steady rental demand across Western Sydney.&nbsp;

[smartcode_project:default project_id=31751 project_image_fid=359812]

<h2>Make sure you're across the government incentives</h2>

Government incentives continue to play a key role in reducing the upfront cost barrier.

At Mason &amp; Main, studio, one, and two-bedroom apartments are priced under $800,000, allowing eligible buyers to access a full stamp duty exemption under the NSW First Home Buyers Assistance Scheme.

On a $498,000 purchase, that represents a saving of roughly $17,900 that would otherwise need to be paid at settlement.

Combined with the First Home Guarantee, which enables purchases with as little as a five per cent deposit, the total capital required to secure a home is significantly reduced compared to traditional lending pathways.

<h2>No waiting, no uncertainty</h2>

For first home buyers who want to move sooner rather than later, Mason &amp; Main removes one of the more common pain points from the purchase process entirely. The development is already complete and move-in ready, meaning buyers can walk through the apartments, inspect the finishes, and have full certainty about what they're purchasing before signing anything.

Coronation brought in renowned architecture firm <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> to design the development.&nbsp;

"The project's design drew inspiration from the area's rich heritage, in particular the nearby brickworks and aqueduct, infusing a contemporary perspective to seamlessly integrate historical influences into the design," Woods Bagot Principal Dom Alvaro says.

[smartcode_project:default project_id=31751 project_image_fid=736]

<h2>Factor in location and lifestyle</h2>

Beyond the apartment itself, the surrounding infrastructure matters, particularly for a first purchase. Merrylands Station sits 350 metres from the development, putting the Parramatta CBD a five-minute drive away and the Sydney CBD roughly 25 minutes via the Western Line. Directly across the road is Stockland <a href="https://www.apartments.com.au/developments/merrylands-nsw-2160">Merrylands</a>, one of Greater Western Sydney's major retail centres.

At street level, Mason &amp; Main's own retail and dining precinct has more than 30 tenants trading, including Iftar, Macelleria, Hayat, San Churro, Yuzu, and Fat Jaks. Residents also have access to a resort-style pool, a Technogym-equipped gym, private dining rooms, and a rooftop terrace with panoramic views across Parramatta, the Sydney CBD, and the Blue Mountains, all exclusive to the building.

Due to the mix of configurations, including studios which are rarely offered in today's new apartment market, first home buyers and investors have driven Mason &amp; Main to over 90 per cent sold.

Coronation Property Managing Director Joe Nahas says the development is driving a revitalisation of Merrylands, setting a high standard for future developments in the area.

Mason &amp; Main is move-in ready and is the latest in a series of award-winning mixed-use developments by Coronation Property.

Disclaimer: Mortgage repayment figures are estimates only, based on a 6.29 per cent variable rate over a 30-year term (Canstar, April 2026). Pricing and rental estimates are indicative and based on current listings and project information. Gross yield figures are indicative and derived from asking prices and estimated rental ranges. Stamp duty savings are indicative only. Buyers should seek independent financial and legal advice before proceeding.

[smartcode_project_cta:default project_id=31751]

How first home buyers can enter the Sydney property market for under $500k

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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A mansion on the Mornington Peninsula that was home to the former governor of Victoria, Sir Dallas Brooks, has been listed for sale.
The sprawling Frankston home has seven bedrooms and three living areas.
Ray White Frankston agent Callum MacPherson advises the home is in need of renovation, but is also offering it as a development site given its planning permit for 15 three bedroom townhouses in place.
It is being offered in conjunction with Mick Whelan at McLennan Real Estate.
MacPherson calls it a "one-off property".
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He has a guide of $2.45 million to $2,659,000 for the July 13 auction of the large 7,230 sqaure metre Crathie Court parcel.
The English-born Brooks was in the navy, serving at Gallipoli, before rising through the ranks.
Brooks, who died in 1966, succeeded Sir Winston Duncan as governor of Victoria in 1949.
He retired to Frankston as Victoria's longest-serving governor in 1963 with wife Muriel, who sold in 1973.
This article first appeared in The Weekend Australian. 
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firstname1-iYD4UYzvBa

Former Victorian governor's sprawling Frankston mansion with development approval listed 

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A 410 square metre Surrey Hills block, occupied by a scout hall, will go under the hammer on June 22.
It has been listed by David Taylor and John Taylor from Fletchers Canterbury with a price guide of $1.3 million to $1.4 million. 
The wide frontage block at 7 Robinson Road offers the potential to create a low maintenance home on its own title. 
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Situated between Chatham and Surrey Hills Stations, it's within walking distance to Surrey Hills Village shops, supermarket, cafes plus nearby Canterbury Sports Ground and Chatham Primary School. 
Scouts Victoria bought the property in 1955 and built the hall. 
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j.ballantyne1990-6AQqhLzZaK

Surrey Hills scout hall to go under the hammer

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A near-waterfront single level home situated on a quarter acres site at Newhaven, Victoria is on the market with $1.3 million to $1.4 million hopes. 
It has been offered by Mike Cunningham and Scott Lethbridge from Garth Lisle Property Consultants. 
Sitting facing the eastern passage of Westernport Bay between Newhaven and San Remo, the three bedroom house at 1 Beach Crescent is filled with characters including high ceilings, ornate period finishes and updated fittings. 
It comprises master room with modern ensuite, two guest bedrooms opening to rear yard, kitchen zone with wood-fired heater, and large family room with open fireplace.
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The separate kitchen with dining offers views of the front garden and harbour across the lawn, and opens to the full width verandah. 
Beach access is directly opposite the driveway of the home. 
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With direct access to the local jetty, the home is also close to the public boat launching ramp and the Newhaven Yacht Squadron with its sheltered harbour.
The expressions of interest campaign for the home ends July 22.
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Waterfront Newhaven home with jetty access listed

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Over the year to February 2019, dwelling sales were down -10 per cent across the Latrobe-Gippsland region, although current sales activity is in line with the five year average for the region, according to the latest CoreLogic regional report. 
Dwelling values across the Latrobe-Gippsland region increased year-on-year with house values increasing by 5.9 per cent over the 12 months to March 2019, while unit values were up by 7.9 per cent over the same period.
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<a href="https://www.propertyobserver.com.au/images/2019/6/5/geelong%202.jpg" target="_blank">Click here</a> to enlarge: 
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Source: CoreLogic 
 Renting is more expensive across the region with advertised rental rates up $20/week for houses and $15/week for units over the year to March.
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<a href="https://www.propertyobserver.com.au/images/2019/6/5/geelong%204.jpg" target="_blank">Click here</a> to enlarge: 
 
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Source: CoreLogic 
The time a home sits on the market across the region has improved with the average house selling 17 days faster, and the average unit selling 10 days faster when compared to February 2018. 
The average vendor is offering less of a discount to secure a sale over the same period.
<a href="https://www.propertyobserver.com.au/images/2019/6/5/cairns%205.jpg" target="_blank">Click here</a> to enlarge: 
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Source: CoreLogic 
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Latrobe-Gippsland regional sales volumes down 10 percent: CoreLogic 

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The Geelong region saw 5,595 dwellings sold across the 12 months to February 2019, according to the latest CoreLogic Regional Report. 
Sales across both houses (-14%) and units (-38%) have fallen over the year, although units only accounted for 12% of transactions over that period.
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<a href="https://www.propertyobserver.com.au/images/2019/6/5/geelong%202.jpg" target="_blank">Click here </a>to enlarge: 
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Source: CoreLogic
The report notes Geelong home values increased year-on-year, with house values rising by 0.4% and unit values up 5.4% over the same period.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/cairns%203.jpg" alt="">
Click here to enlarge: 
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Source: CoreLogic 
Homes across the region are selling faster. The average time on market for houses fell by three days over the year to February, while units are selling 19 days faster over the same period.
Vendor discounting levels remain unchanged for units, while increasing slightly for houses.
<a href="https://www.propertyobserver.com.au/images/2019/6/5/cairns%205.jpg" target="_blank">Click here </a>to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/cairns%205.jpg" alt="">
Source: CoreLogic
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Geelong house and unit sales activity in decline: CoreLogic

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A group of strata unit owners have joined forces to sell their assets in one line to a Chinese developer for $14.1 million. 
The eight units on the 2,061 square metre landholding at 12-16 Shipley Street in Box Hill have been acquired by a number of families since 1985. 
Savills Australia’s Dorothy He, Benson Zhou and Julian Heatherich brokered the deal.
It was at a rate of $6,841 per square metre.
He said it was rare to be able to market a series of assets in one line. 
“To the vendors, the family memories carry enormous emotional weight, leading them to eventually decide to sell together,” she said. 
“They were able to achieve a greater sale price by selling their units together than they would have if they took them to market individually.”  
He said the purchaser recognised the versatility of the site, which currently provides a flexible income stream as a land-bank prospect and is also one of the final major development opportunities in Box Hill. 
“The buyer, a locally based Chinese developer, realised the upside of a landholding in the Box Hill Activity Centre,” she said. 
“This is a proven development location, with several successful projects either complete or under construction in the immediate area.
“With an adjacent 20-level project under construction, substantial height can be achieved through development (STCA) and there is enormous potential for views of the Box Hill Gardens and Melbourne CBD.”
Savills has previously tipped Box Hill to become Melbourne’s second high-rise CBD, with the City of Whitehorse population forecast to grow to about 22,850 people by 2036. 
“Box Hill is a thriving hub in Melbourne’s east, currently home to more than 12,500 residents,” Zhou said. 
“The suburb is projected to need more than 5,000 new dwellings in the next decade and beyond, in order to accommodate the rising population, which has been a direct result of significant public and private investment into health, education, retail and commercial initiatives in recent years.”
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Eight strata unit vendors band together to sell half-acre Box Hill holding

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EXPERT OBSERVER
Melbourne shows that even in a city with a distinct overall trend, there are many diverse scenarios in play. Melbourne generally continues to decline but different sectors are producing different results, especially with price outcomes.
Apartment markets in particular are holding up well and there are more suburbs with rising unit prices than those with prices down. That runs contrary to the general media rhetoric of prices down across the board, thanks to generalised data and bad analysis.
Across the Melbourne metropolitan area, Hotspotting has analysed price trends in 435 house and unit markets and found that 44% have median prices higher than a year ago, while 56% have prices lower than last year.
Markets with significant declines in prices are relatively rare. Only 35% of the 435 suburban markets analysed have had median prices fall by more than 5% in the past 12 months – and it’s mostly the top end markets where prices have dropped a lot. Conversely, the locations where prices are still up substantially are primarily in the outer-ring areas where buyers are chasing affordability.
But, as we frequently observe, prices take time to respond to market realities, as shown by sales activity. The trends with buyer demand suggest Melbourne overall is at the bottom of the trough – suburbs with rising demand are virtually non-existent (the worst outcome since we started our quarterly surveys four years ago) and there are 73 suburbs which we have classified as “decline” markets (more than Sydney currently has).
In terms of trends with buyer demand, the steadiest markets are the areas where most suburbs are “plateau” or “consistency” markets. These are mostly the more affordable areas, either outer-ring precincts or middle market ones.
The City of Melton LGA on the western outskirts of the Melbourne metro area is a stand-out, both with sales trends and price outcomes. There are no “rising” suburbs in terms of sales activity but there are 11 classified as “plateau” markets. And many of the Melbourne suburbs where median prices have risen by more than 10% in the past 12 months are in the Melton LGA.
Other municipalities with steady buyer demand include the Hume LGA in the north, Casey in the far south-east, Brimbank in the western suburbs and Wyndham in the far south-west, as well as middle-ring areas like Darebin, Nillumbik and Moreland. The only LGAs in the Melbourne metro areas with no suburbs classified as “decline” markets are those three middle-ring areas, plus Melton City in the far west.
The middle-market Kingston LGA demonstrates the many different scenarios that can be found in real estate, even within one municipality. We have ranked 13 suburbs in the Kingston LGA: 2 rising, 6 plateau, 2 consistency and 3 decline. The rising suburbs are Chelsea and Chelsea Heights, the only two suburbs across Melbourne to be identified as having rising buyer demand in this Autumn survey.
The strongly-emerging trend is the number of Melbourne locations with significant declines in sales activity – and they are found right throughout the metropolitan area.
Many of the upmarket areas have multiple decline suburbs, including the LGAs of Boroondara, Glen Eira and Melbourne. But middle-markets LGAs like Whitehorse and Monash, as well as more downmarket locations like Greater Dandenong, have multiple decline markets.
And suburbs classified as decline markets are now starting to appear in the outer-ring LGAs like Casey and Hume, which provides further evidence that the previous growth cycle is over.
But the worst of the decline markets is the Mornington Peninsula – in this outlying LGA, we have classified 10 suburbs as decline markets.
Price levels remain quite resilient in many parts of Melbourne. Among the housing markets, 36% of suburbs have median prices higher than a year ago, while in the apartment sector 57% have higher prices.
In the housing markets, 94 suburbs have median prices higher than last year, while among the apartment markets, 98 suburbs have higher prices (compared to 73 with lower medians).
In terms of locations with significant price decline (a drop of more than 5% in the median price), only 38% of housing markets and 25% of apartment markets are in this category.
The suburbs with major decline in median house prices are all millionaire suburbs. Those where the median house price has dropped more than 20% in the past 12 months are Box Hill, Brighton, Canterbury, Carlton, Caulfield North, Hawthorn, North Melbourne, South Melbourne, South Yarra, St Kilda, St Kilda East and Toorak. 
The biggest drops in median house prices have occurred in Box Hill (down 36%), St Kilda (35%), Toorak (31%) and Hawthorn (30%).
Conversely, the areas still delivering good price growth are at the affordable end of the market. Of 11 suburbs with median house price growth above 10% in the past year, 5 are in the Melton LGA, 2 are in Hume and 2 are in Casey. Virtually all of these 11 suburbs are suburbs with median house prices under $600,000.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

Multiple property scenarios producing different results in Melbourne: Hotspotting's Terry Ryder

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EXPERT OBSERVER
The Victorian Budget 19/20 has been adjusted to deal with the biggest write down in revenue in Victoria’s history. 
This is due to the challenging headwinds for Victoria’s property market with sales volumes down 24 per cent and cooling values as we have seen over the past year. 
Victoria’s property industry remains the cornerstone of the Victorian Budget, continuing to contribute 46 per cent of revenue and $10.5 billion in land tax and stamp duty alone in the next financial year.
The Budget delivers on the Government’s bold and ambitious infrastructure investment plan and has addressed many of the priorities outlined in the REIV’s Election Platform and Budget Submission. 
In particular, the REIV welcomes the payroll tax relief for small business and commends the Government for adjusting the rates in Regional Victoria so that by 2022/23 regional businesses will pay the lowest payroll tax in the nation.
The Victorian Government will invest $2.6b to support jobs, economies and communities in Regional Victoria and an additional $150m in the next financial year to establish the Victorian Jobs and Investment Fund. 
The REIV is also pleased with the investment in new urban growth corridors and precinct plans which we have consistently advocated for.
Included in this is $173m for the Geelong City Deal and an additional $18.8m for services.
We welcome the Fishermen’s Bend Framework which includes homes for 80,000 people and the investment in the innovation and employment clusters in Sunshine, Monash, Dandenong, LaTrobe and Werribee.
The Government has also committed $50m for the Growing Suburbs Fund to build and upgrade new community facilities in Melbourne’s 10 rapidly-developing interface municipalities. 
The REIV commends the Government for its commitment to education and training with historic expenditure in the sector.
We will work with the relevant bodies to ensure the ongoing professionalism and upskilling of our industry which was a fundamental tenet of the REIV’s Budget Submission. 
We also welcome the $2.5m support for mentoring for small business.
Other noteworthy initiatives include the extension of the Better Apartments program to the suburbs, the expansion of solar homes and the 50 per cent discount on land transfer duty for commercial and industrial properties in Regional Victoria in four year’s time.
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The Budget is still heavily reliant on property taxes. 
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While we congratulate the Victorian Government on many positive initiatives, the reliance on property taxes is of great concern to our industry.
We appreciate the government has a big infrastructure agenda, but they can’t keep dipping into the same revenue pot to fund their promises. 
The REIV and the industry predicted the property market correction and planned accordingly, but it seems the government did not. 
Robyn Waters is the president of the REIV.
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jrobinson-rf4aSBido9

Victorian Budget delivers infrastructure and incentives

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The former Peters Ice Cream HQ in Mulgrave is set to be heritage listed.
<a href="http://heritagecouncil.vic.gov.au/wp-content/uploads/2019/05/ED-REPORT-INCLUDE-PETERSVILLE-FINAL-FINAL-.pdf" target="_blank">The classic 1960s office building</a>, with its sinuous roofline and waffle-style facade, is hip enough decades on to warrant heritage listing.
It was May 1964 when the new factory was officially opened by the Governor of Victoria, Sir Rohan Delacombe.
The term Petersville had been coined during 1962 as a quasi-geographic label for the factory site on Wellington Road, and it subsequently became the moniker of the company.
The Petersville Factory Administration Building is one of the classic post-war factory administration buildings, associated with the development of manufacturing in the 1950s and 1960s, a phase of historical importance in Victoria. 
Overall, the Petersville Factory Administration Building remains in very good condition.
Externally, most of the brickwork, concrete columns, door frames and window frames show very few signs of deterioration. There are some areas of rust to metal elements and deterioration to eaves.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/31/New%20Project%2026.jpg" alt="">
Internally, the foyer of the Administration Wing is in excellent condition with only minor defects to timber ceiling lining and area of damage to stair treads.
In April this year an Interim Protection Order was issued by the Victorian Heritage executive director who has now recommended permanent heritage listing.
The Petersville Factory Administration Building is located at 254–294 Wellington Road, Mulgrave.
It comprises a double-storey brick Administration Wing, attached single-storey Office Wing and Staff Amenities Wing to the rear.
The three wings form an asymmetrical H-plan.
The building is a freestanding element within a landscape setting that includes lawn, a row of flagpoles, paths and mature plantings.
The Administration wing’s arresting design, incorporating a full-length decorative screen and wave-form roof, presents a distinctive and highly visible street frontage. The interior of the Administration Wing has a double-height entry foyer that includes a floating staircase, terrazzo flooring, mezzanine gallery and timber-lined ceiling that reflects the wave-form roof shape. Office space lies to either side of the foyer on both levels. 
The Petersville Factory Administration Building was constructed as part of a large manufacturing complex built in 1962–63 for leading food manufacturers Peters Ice Cream (Vic) Ltd (later Petersville Australia Ltd).
The company developed the Mulgrave site, which became known as Petersville, to replace the Richmond premises that it had occupied since 1936.
During the early 1960s Peters Ice Cream had rapidly expanded to incorporate brands such as Four’n Twenty Pies, Edgell and Birdseye.
Designed by the architectural office of D Graeme Lumsden, the new complex included offices, amenities and extensive production areas.
Lumsden designed several interesting commercial and industrial buildings in Victoria, including the Nicholas Factory in Clayton (demolished) and Mitchelton Winery.
Although he and his firm contributed to the practice of architecture and commercial building design, Heritage Victoria conclude it could not be said to have made a strong or influential contribution to the course of Victoria’s history more broadly.
Architect D Graeme Lumsden had established his own practice in 1948 and was later joined by younger architects Ted Ashton and Bill Hale, who became key members of the office.
Although the office of D Graeme Lumsden (and its later incarnations) undertook a range of projects including houses, office buildings, banks and a winery, the firm’s main focus was industrial buildings. 
Factory projects were commissioned by such high-profile manufacturers as Nicholas Ltd, Volkswagen Australia, Glaxo, Patons Brakes, Leyland Motors, Speciality Press, Murfett Publishers and Smith &amp; Nephew.
After Lumsden’s death in 1995, an obituary by Neil Clerehan described him as both ‘one of Australia’s most successful industrial architects’ and an ‘industrial design pioneer’.
In 1998, under the ownership of Nestle, the production areas of the site were substantially updated.
The Petersville Factory Administration Building was utilised until 2016 before Peters staff moved to a new administration building elsewhere on the site.
Production of Peters products continues to take place elsewhere on site in the new facilities. The Petersville Factory Administration Building is currently vacant.
In 2012, The Peters Ice Cream business, including its Mulgrave factory, was purchased by Pacific Equity Partners (PEP), with licence to produce sub-brands that were retained by Nestlé, e.g., Drumstick.
In May 2014, the European company R&amp;R Ice Cream bought Peters.
It was the American expatriate Frederick Peters who founded the Peters American Delicacy Company in Australia in 1907.
First established in Paddington in Sydney, by 1929 subsidiaries had been set up in Queensland, Western Australia and Victoria.
The Victorian branch and was based in Meyers Place in central Melbourne, before moving to a refurbished former shoe factory in Richmond in 1936.
During 1957, Peters Ice Cream (Victoria) Ltd, took over two rival ice cream producers, and between 1960 and 1963 acquired a further 10 companies.
These acquisitions included other iconic brand names including Four’n Twenty Pies, Edgell and Birds Eye.
To accommodate this growth, in 1961 Peters acquired a 35-hectare site at the south-west corner of Wellington Road and Springvale Road in what was then known as Clayton (now Mulgrave).
The decision to relocate from Richmond reflected a post-war trend towards decentralisation of industry that saw many established Melbourne manufacturers move from the inner-city to developing suburban fringes.
In 1964, Peters Ice Cream (Victoria) Ltd took on the name of the new site and became known as Petersville Australia Ltd.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/31/New%20Project%2025.jpg" alt="">
The company is notable for its high profile and longstanding promotional activities –including street signage, radio and television programs, branded small refrigerator cabinets and sponsorship of the Moomba parade.
Victoria experienced rapid industrial expansion after World War Two.
Major manufacturers developed substantial new facilities in suburban fringe locations such as Dandenong, Cheltenham and Clayton.
This form of decentralisation developed alongside the growth in car ownership and suburban housing estates.
Manufacturing facilities were built alongside major roads, often some distance from train stations, and car parking was provided for staff on site.
These new greenfields locations allowed for an expansive use of space, with administration buildings often set well in front of more utilitarian production facilities and complemented by landscaping and gardens.
Photos: Heritage Victoria 
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jchancellor-FAypfDUnLy

Peters Ice Cream 1960s Mulgrave HQ to be heritage listed

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EXPERT OBSERVER
The latest ABS figures estimate that the total number of dwelling units that commenced construction fell 9.5% in the December quarter. The current decline in Victoria’s residential property development is pushing many developers to look at diversifying.
Restrictions on foreign investment, changes in statutory fees and investment incentives, lending becoming tighter and policy uncertainty with the looming federal election have all contributed to a decline in the Victorian residential property market. As a result, developers are struggling to pre-sell a sufficient number of properties to fund residential development projects in the current environment. 
However, with Australia’s rapidly growing population, the need for new housing will persist and lead to a bounce back in the market in time.
Until then, more and more developers are looking at repurposing their existing residential development sites and transitioning them into commercial sites. Some are looking to capitalise on growing sectors of the market by turning to opportunities in the aged care and retirement living and the up and coming ‘build-to-rent’ sector. Build-to-rent developments are purposely built for rental, rather than sale. This benefits people who want or need to rent for longer periods of time. 
Residential developers frequently discuss rezoning and repurposing sites to a commercial development.
Commercial properties are vastly different from residential property developments in terms of size, function, characteristics and most importantly financial risk. 
While residential developments involve selling off the asset once complete, commercial developments usually involve retaining and maintaining the asset, which is a much longer-term financial model.
The biggest challenge for residential developers who adopt any of these alternatives is understanding market expectations and changing their feasibility from a short-term to a longer-term return with a different model and risk profile.
However, with the right team of consultants leading the transition of a development, traditionally residential developers are presented with the potential to thrive under the current housing climate in Victoria.
Opportunities in the growing aged care and retirement living market
The aged care sector is expected to boom over the next few years as our population ages and continues to live longer. 
Aged care and retirement expectations and offerings have completely changed over the last few years in Melbourne due to our society becoming accustomed to an amenities-rich way of living.
New aged care and retirement living sites are no longer sprawling developments on the suburban fringes. They are now situated in inner city areas and have become high-rise modern developments with the same premium finishes as a luxury apartment development.
Traditional residential property developers are seeing the growing ageing and downsizer population as an opportunity to take advantage of in the current market. In particular, an originally proposed high-density residential apartment site can now present an ideal transition for a modern inner city vertical aged care and retirement living development.
Earlier this year, Lendlease submitted an updated proposal for the redevelopment of the historic Channel Nine studio site in Richmond to include aged care and retirement living precincts.
One caveat is that aged care and retirement living sites have a different set of regulations and requirements which developers will need to consider in terms of feasibility and buildability.
Making moves in the new build-to-rent sector
Some developers are also considering repurposing their residential sites into a ‘build-to-rent-model’. 
While this model is still largely untested in the Australian market, there’s a growing demand for this alternative development scheme, particularly as the issue of housing affordability continues across Melbourne. 
In terms of transitioning residential development sites into a build-to-rent model, the design and construction remains largely the same, but the financial model is completely different. 
Developers will be keenly observing how ‘build-to-rent’ sites, such as UBS Asset Management, Grocon and JLL’s Gold Coast ‘built-to-rent’ site which opened early this year, will perform to see if they should transition their developments over to this model.
The reality is, the Victorian residential property development market as we know it is changing. For developers to stay afloat, they may need to explore different types of developments and repurpose their existing residential development sites. 
James Ford is the National Director at WT Partnership
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