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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

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Joel Robinson

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

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Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

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?

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

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Melbourne units sold for a median price of $468,000 for the quarter to June, according to RP Data.
The newly released figures in RP Data-Rismark’s Daily Home Value Index for June show that Melbourne units displayed 2.7% capital growth. However, with a 2.4% drop over the quarter to June, Melbourne units have seen no actual capital growth in the year to date.
Property Observer looks at some recent sales of townhouse villas, units and apartments to see what exactly $468,000 will buy you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-apartment-vic-prahran-117088995" target="_blank">6/8 Grandview Grove Prahran</a>
 <img src="/images/2014/07/02/1.jpg" alt="">
This one bedroom apartment with a car space is located in the inner south-eastern suburb of <a href="/news">Prahran</a>. It was sold for $468,000 last month.
The north facing apartment has a lounge, separate kitchen and dining area, and a double bedroom with built in robes.
In twenty years, it has more than quadrupled its value – the vendors purchased the home for $95,000 in 1994.
Price: $468,000
Bedrooms: One
Drive to CBD: 20 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-vic-carrum-117002651" target="_blank">25A McLeod Road, Carrum</a>
 <img src="/images/2014/07/02/2.jpg" alt="">
Located in Melbourne’s south-east, this <a href="/news">Carrum</a> free-standing unit sold for $470,000 in June.
It has three bedrooms, two bathrooms, and a separate lounge area.
The unit, with a double carport, shares the block with one other unit, and is within walking distance of the beach.
Price: $470,000
Bedrooms: Three
Drive to CBD: 43 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-vic-pascoe+vale-116887055" target="_blank">3/385 Gaffney Street Pascoe Vale</a>
 <img src="/images/2014/07/02/4.jpg" alt="">
This single level brick unit sold for $465,000 at the beginning of June.
Located in the northern suburb of <a href="/news">Pascoe Vale</a>, the three bedroom home is close to the Pascoe Vale shops, train station, Citylink and in the <a href="/news">Strathmore</a> school zone.
Price: $465,000
Bedrooms: Three
Drive to CBD: 22 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-vic-footscray-116809915" target="_blank">G05/277-287 Barkly Street Footscray</a>
 <img src="/images/2014/07/02/5.jpg" alt="">
In the fast-gentrifying inner Western suburb of <a href="/news">Footscray</a>, this ground floor apartment has two bedrooms and one bathroom. It sold for $465,000 last month.
Located in the Barkly Theatre Apartments, the open plan apartment has its own private outdoor entertaining areas, a galley style kitchen and secure parking.
Price: $465,000
Bedrooms: Two
Drive to CBD: 18 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-vic-blackburn-116800915" target="_blank">2/194 Surrey Road Blackburn</a>
 <img src="/images/2014/07/02/6.jpg" alt="">
This eastern suburban unit sold for $460,000.
The brick villa with two bedrooms and one bathroom is within walking distance of <a href="/news">Blackburn</a> Village, the train station, primary schools and buses.
The vendors bought the unit for $315,000 in 2008. Price: $460,000 Bedrooms: Two Drive to CBD: 27 minutes
</li>
</ol>
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jrichardson-uRX5hFdKfN

What can you buy for Melbourne’s median unit price?

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A Georgian-inspired Toorak mansion on a 1,178 square metre block sold for $6.01 million was the weekend's highest sale in Victoria.
It was listed through Tim Derham and Jock Langley of Abercromby’s Real Estate, inconjuction with Australian Professionals Property Service, with three bidders competing at the auction. 
The initial price guidance was given as $4.5 million plus. The opening bid was $4.8 million, with the formal on the market announcement made at $5.25 million.
It offered the potential for multi-unit development subject to council approval sitting within City of Stonnington’s draft general residential zone, which allows for medium density development of up to three stories.
The five bedroom home sat at the rear of a L-shaped block at <a href="https://www.realestateview.com.au/Real-Estate/42-washington-street-toorak/Property-Details-buy-residential-7161159" target="_blank">42 Washington Street, Toorak</a> which last sold in 1976 at $212,000.
Melbourne recorded a preliminary clearance rate of 72% according to the REIV.
THE TOP 5 HOUSES
42 Washington Street, Toorak $6,010,000 
2. 13 Oxford Street, Malvern $4,225,000 
3. 9 Brynmawr Road, Camberwell $2,815,000 
4. 15 Raven Street, Kew $2,810,000 
5. 57 Athelstan Road, Camberwell $2,350,000 
CHEAPEST 5 HOUSES 
1. 127 Eighth Avenue, Rosebud $241,000 
2. 46 Booth Crescent, Dandenong North $310,000 
3. 32 Bellbird Avenue, Launching Place $310,000 
4. 5 Parkstone View, Craigieburn $340,000 
5. 17 Millstream Pass, Craigieburn $345,000 
Source: REIV
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jchancellor-FAypfDUnLy

Toorak home with medium density potential fetches $6.01 million

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June is set to be another record-breaking month with auction numbers, according to the REIV.
The REIV has tabulated about 4,000 auctions for June which will comfortably pass the record of 3,329 auctions held in June 2010.
There was a weekend clearance rate of 71 per cent compared to 61 per cent June Queen's Birthday long weekend and 70 per cent on the same weekend last year.
The REIV is expecting about 870 auctions in 246 suburbs this weekend, June 21/22.
The top auction locations this week are Richmond (19 auctions), Glen Iris (13 auctions), Hawthorn (12 auctions) and Preston (11 auctions).
Auctions continue to become more popular in the outer suburbs of Melbourne. \
So far this year, 17 per cent of auctions in Melbourne were held in outer suburbs in locations such as Craigieburn, Wheelers Hill, and Parkdale. 
This compared to 14 per cent this time last year.
<a href="https://www.realestateview.com.au/portal/search?rm=search&amp;mapsearch=0&amp;sub=Wheelers%20Hill%20VIC%203150%2C%20&amp;sur=bord&amp;bel=0&amp;beh=0&amp;bal=0&amp;bah=0&amp;sor=featured&amp;CID=0&amp;GID=0&amp;con=S&amp;ptr=r&amp;pal=0&amp;pah=0&amp;portalview=residential&amp;portalsection=buy&amp;journeyplanner=1&amp;jpdate=2014-06-21&amp;jpday=1&amp;bs=12&amp;prl=0&amp;prh=0" target="_blank">There are four Wheelers Hill auctions this weekend</a>.
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Outer Melbourne listings assist record June auction volume: REIV 

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There were no loss making property sales detected in just the two Melbourne, Victorian municipalities during the March quarter, according to the latest RP Data Pain and Gain report.
They were Murrindindi and Moorabool.
The highest volume of loss-taking was the 19.1% that sold for less than last time in the increasingly problematic Melbourne municipality where the typical loss was $35,000, followed by the 13.4% in the Whittlesea municipality were the typical loss was $17,500.
The biggest losses were taken in the Macedon municipality at a typical $161,500 drop.
Some 22 of the 35 municipalities secured gains well in excess of the biggest loss, with the biggest being a typical $458,000 gain Bayside and a $455,500 gain in the Manningham municipality.
Some 7.4% of Melbourne homes which re-sold over the March 2014 quarter sold at a loss, down from 9.3% at the same time a year ago but up from 6.1% the previous quarter. 
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Source: RP Data
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Bayside the biggest Victorian profit takers, but Murrindindi and Moorabool property sellers make no losses

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Northwood Farm, a stud in the making given its location within Victoria’s thoroughbred horse breeding heartland, has been listed for sale.
Northwood Farm, which has been a cattle grazing property, has as its immediate neighbour Eliza Park Northwood, one of the breeding properties of the Eliza Park group owned by Hong Kong based Sun International. Just a short distance away is Darley Stud, which has recently undergone a major development by the Al Maktoum family, the ruling family of Dubai.
A little further north on the same side of Northwood Road are to be found the further acclaimed thoroughbred studs and breeding farms including Yarran and the major Swettenham Stud.
Its impressive stone and timber homestead was designed by French architect Claudine Dublier with granite stone sourced locally from Oak Valley in the nearby Strathbogie Ranges for the vendors Tony and Cathy Blazey who selected the land when it was just vacant farm land in 2000.
With direct frontage to the Goulburn River, the Northwood Farm at 60 Johnsons Lane has been listed for 28 June auction <a href="https://www.prh.com.au/property-details?listing_id=1333" target="_blank">through agent Bart O'Sullivan at Pat Rice &amp; Hawkins</a> with expectations around $2 million.
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Northwood Farm, Seymour farm offering

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There are two very frequently asked questions in real estate. The first is what counts as a “good” investment property, also known as investment-grade stock. The second is the damage that securing one of these properties will do to your back pocket.
Of course, this differs from city to city. Wakelin Property Advisory, who specialise in the Melbourne market, have answered these two questions for one-bedroom apartments, two bedroom apartments and two bedroom houses.
Firstly, they note that the property must be in a high land value location, close to transport, schools, village-type shops, restaurants and recreation activity and must be on an attractive street with architecturally consistent streetscape.
These are the non-negotiable aspects when they property hunt.
Richard Wakelin notes that this is so you can ensure somewhere with consistent, historical growth and that has the crucial scarcity factor.
So how much do you need to scrape in to purchase these types of property?
Wakelin notes that $400,000 is the starting point (if you aren't yet at this capacity, the video below includes some tips for starting out on less).
This nets a one bedroom apartment within the inner north that fulfils the above criteria.
Suburbs for a $400,000 budget (inner north):
<ol>
<li>
<a href="/news">Carlton North</a> 
</li>
<li>
<a href="/news">Brunswick</a> 
</li>
<li>
<a href="/news">Kensington</a> 
</li>
<li>
<a href="/news">Flemington </a> 
</li>
<li><a href="/news">Ascot Vale</a></li>
</ol>
Suburbs for a $450,000 budget (inner bayside apartments):
<ol>
<li>
<a href="/news">Elsternwick</a> 
</li>
<li>
<a href="/news">Elwood </a> 
</li>
<li>
<a href="/news">St Kilda </a> 
</li>
<li><a href="/news">St Kilda West</a></li>
</ol>
Suburbs for a $450,000 budget (inner eastern suburbs apartments):
<ol>
<li>
<a href="/news">Hawthorn</a> 
</li>
<li>
<a href="/news">Toorak</a> 
</li>
<li><a href="/news">South Yarra </a></li>
</ol>
Higher budgets:
<ul>
<li>$600,000: Can net you a two-bedroom apartment in the inner north</li>
</ul>
<ul>
<li>$650,000: Can net you a two-bedroom apartment in the bayside and inner eastern suburbs 
</li>
<li>$700,000: Can net you a single fronted two-bedroom cottage in the inner north 
</li>
<li>$800,000: Can net you a single fronted two-bedroom cottage in the bayside and inner eastern suburbs</li>
</ul>
You can watch the video below for more of Richard Wakelin’s thoughts on investing in Melbourne and what to do if your budget doesn't yet stretch to $400,000.
{qtube vid:=G4xUGkdIFrs}
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jduke-EHk3XBmHkn

What is an investment-grade property in Melbourne and where can you buy for your budget?

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Melbourne saw the biggest price drop for houses of any capital city last month, according to RP Data.
RP Data-Rismark’s Home Value Index recorded a 3.6% drop in house values in May. The median price of houses in Melbourne based on settled sales over the quarter to May now sits at $612,000.
Property Observer looks at recent sales in Melbourne to see just what that price will get you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-vic-flemington-116056671" target="_blank">282 Pin Oak Crescent, Flemington</a>
<img src="/images/2014/06/10/flemington-june-10-one.jpg" alt=""> This two bedroom Victorian weatherboard sold for $600,000. Marketed as a “renovators delight”, it was sold at executors auction through Geoff Green and Adam Hicks of Geoff Green Real Estate. The <a href="/news">Flemington</a> home is within walking distance of a train station, trams, cafes and restaurants and the Newmarket Village shops.
Price: $600,000 Bedrooms: Two Drive to CBD: 16 minutes
</li>
<li>
14 St Andrews Close, Croydon 
<img src="/images/2014/06/10/2.jpg" alt=""> A four bedroom, three bathroom <a href="/news">Croydon</a> home sold for $608,000 last month. Set on a 1,092 square metre plot, this sprawling family home is essentially a duplex, with two dwellings under the same roof. At one end of the home there are three bedrooms, two bathrooms, a kitchen, two large living spaces and a separate dining space. The other home, which has separate meters and access has a bedroom, one bathroom, a kitchen and dining area.
Price: $608,000 Bedrooms: Four Drive to CBD: 43 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-reservoir-116465303" target="_blank">9 Tambo Avenue, Reservoir</a> <img src="/images/2014/06/10/3.jpg" alt=""> This home is located in the northern suburb of <a href="/news">Reservoir</a>, roughly 12 kilometres from the Melbourne CBD. The three bedroom, one bathroom home has a formal living room, a separate formal dining room and a central kitchen. Sitting on a 730 square metre lot, the new owners could potentially redevelop on the land as the neighbours have done.
Price:$620,000 Bedrooms: Three Drive to CBD: 34 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-seddon-116323435" target="_blank">17 Scott Street, Seddon</a> 
<img src="/images/2014/06/10/4.jpg" alt=""> This two bedroom home clad in Tasmanian Red Gum was sold for $615,000 earlier this year. The <a href="/news">Seddon</a> house was marketed as an “Eco-home” by selling agent Bretty Ayles of Village Real Estate, with exterior double insulation, a “thermal chimney for heat escape”, double glazed windows, solar panels and a first flush cleaning system for water capture. 
Price: $615,000 Bedrooms: Two Drive to CBD: 20 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-ringwood-116772519" target="_blank">41 Barkly Street, Ringwood </a>
<img src="/images/2014/06/10/5.jpg" alt=""> Another two bedroom weatherboard home, this house in <a href="/news">Ringwood</a> sold for $610,000. The home has an open living and dining area, a renovated kitchen and sunroom, with polished timber floorboards throughout. Outside, there is a carport and covered verandah. 41 Barkly Street is within walking distance of Heatherdale and Ringwood Station.
Price: $610,000 Bedrooms: Two Drive to CBD: 32 minutes
</li>
</ol>
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What does a house at Melbourne’s median price look like?

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The BRW rich-lister Mark Rowsthorn has sold the former Golden Crust bakery in Armadale, in Melbourne’s inner south-east, for $11.5 million.
The bakery, built in 1915, was converted into a luxury five-bedroom residence by architects Jackson Clements Burrows in 2010 (pictured above).
Title Tattle gathers it has been bought by the Toorak couple, Sara and Clark Kirby. He is the chief operating officer of Village Roadshow. Their $2,695,000 plus redundant Toorak offering remains for sale after failing to sell at last month's Marshall White auction.
It was last sold in 2006 at $4.5 million to Rowsthorn and Allison Gibson through Kay &amp; Burton by the antique dealers Edward and Peta Clark who had 69 Sutherland Road as their home and gallery. The Clarks <a href="/news/vic/industrial-era-windsor-factory-abode-listed-with-3-5-million-plus-hopes">moved to Windsor</a>, selling to their interior designer daughter, Tamsin Clark and her husband Patrick Johnson for $3.1 million in early 2013.
Built in 1915, the former Golden Crust Bakery was largely untouched when the Clarks bought the 915 square metre holding in the mid-1980s.
It still bears the original bakery signage on its brick exterior, the Australian Financial Review wrote.
The other bakery sale was at the weekend when 1A College Place, Albert Park (pictured below) sold at $3,705,000 through Greg Hocking Holdsworth to Julian Cress, co-creator of the Channel Nine series, The Block. 
The vendors had bought The Block contestants Kyal and Kara's apartment in last season's finale.
With separate living and dining spaces, <a href="/expert-insights/buying/albert-park-former-1896-bakery-listed-in-the-block-aftermath">the five bedroom property had been tipped to fetch more than $2.9 million at its auction</a>.
<img src="/images/2014/05/20/albert%20park_0000_1.jpg.jpg" alt="Albert Park former 1896 bakery listed in The Block aftermath">
There is an upstairs retreat at the 300 square metre holding with ivy-covered red brick house that was the Albert Park bakery between the 1890s and 1920s. The property originally fronting Kerford Road. 
<a href="https://www.realestate.com.au/property-house-vic-albert+park-116896327" target="_blank" style="line-height: 1.3em;">Warwick Gardiner, of Greg Hocking Holdsworth, had the listing</a> which traded at $860,000 in 1998.
Julian Cress and Sarah Armstrong have been renting in Albert Park.
Super Saturday had 1,159 properties scheduled to go under the hammer, the third highest weekend for auctions this year.
Australian Property Monitors reported Melbourne has conducted more auctions over the first five months of this year than over the same period in any previous year. 
There was a preliminary weekend clearance rate of 74.4%.
Photo of Golden Cruset Bakery, Armadale © Shannon McGrath. Architect Jackson Clements Burrows Pty. Courtesy of Facebook.
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Bakery property sales bonanza in Melbourne as Mark Rowsthorn sells

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Lukas Kamay, the young NAB dealing desk broker arrested in the alleged ABS insider trading case, was not only the buyer of one of the four apartments sold in the recent Channel 9 The Block series.
He had two other Victorian properties in his property portfolio, all now with restraining orders.
Property Observer has ascertained he owned small investor property at Sebastopol and Darley, in regional Victoria.
The Silverdale Drive, Darley property, near Ballan in the Moorabool municipality, cost $289,000 in 2011. <a href="https://www.onthehouse.com.au/reports/property_profile/21364737/Unit_4,_13_Silverdale_Drive_Darley_VIC_3340/" target="_blank">The onethhouse website suggests its current value sits between $275,000 and $311,300</a>.
The four bedroom Baudinette Drive, Sebastopol property, near Ballarat, was bought for $120,000 in June last year, both purchases occurring before any of the alleged foreign exchange trading.
<a href="https://www.onthehouse.com.au/reports/property_profile/22396528/26_Baudinette_Drive_Sebastopol_VIC_3356/" target="_blank">Onethehouse gives its likely value estimate now as between $113,100 and $127,100</a>.
It was available for rent earlier this year at $280 a week.
The more recent headline grabbing Albert Park purchase was the luxury apartment decorated by the runner-up Adelaide twins, Alisa and Lysandra which sold at its 8 April auction for $2.375 million —<a href="https://www.dinglepartners.com.au/index.cfm?pageCall=property&amp;propertyID=2618525" target="_blank" style="line-height: 1.3em;"> a massive $616,000 above the reserve of $1.759 million</a>.
<img src="https://cdn.portplus.com.au/742/2649068/20058186_640x.jpg" alt="3/47 O'Grady Street, ALBERT PARK - Rental - Dingle Partners" hspace="" vspace="" width="640" name="thePic"> 
NAB broker Lukas Kamay, who turned 26 on Anzac Day, has been accused of using insider Australian Bureau of Statistics information to make $7 million-plus by trading in the Australian dollar online over the past 10 months.
He was arrested on Friday last week after a joint investigation by the Australian Federal Police and the Australian Securities and Investments Commission.
Police allege Kamay, of Melbourne, used confidential ABS statistics to trade online, betting against foreign exchange derivative movements in the Australian dollar after allegedly being in receipt of national economic, retail trade and labour-force statistics before the normal 11.30am release.
After it was alleged Mr Kamay profited between August 2013 and May this year with around $7 million made from the trades, police froze assets including property, a $15,000 car - and $6.5 million in bank accounts.
<a href="https://ow.ly/i/5wuz5/original" target="_blank">The Sunday Herald Sun uncovered Kamay's $2,375,000 purchase</a>, which Property Observer believes along with the other sales in the block, has yet to settle.
The three bedroom apartment was marketed for Alisa and Lysandra, the former SA police officers, by the Melbourne CBD agents, Anton Wongtrakun and Rochelle Wilson from Dingle Partners.
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Property Observer gleans it unlikely that settlement of apartment 3 at 47 O'Grady Street will occur as expected by the production company, Watercress Productions with the reputed 20% deposit likely to be subject to legal proceedings. Watercress will have rights of termination and compensation.
The twins were not the overall winners, so it will not affect the final result of the television renovation gameshow, and in all likelihood it will not affect their payout as the outcome of the auction night are likely to be honoured by Watercress and Channel 9.
There were six or seven competitive bidders on the apartment, according to <a href="/expert-insights/buying/it-was-our-last-throw-of-the-dice-bidding-and-winning-at-the-block-fans-v-faves-auctions">one attending buyers' agent</a>, Frank Valentic who was there for an intending buyer from Horsham. It appeared to be knocked down to another buyers' agent. The exact intended ownership of the apartment has yet to determined, according to News Ltd, as the ASIC and the AFP continue their investigation. It is possible the purchase was made through one of two companies directed by Kamay, L.A. Promotions Pty Ltd or Lukam Pty Ltd which was established in April this year.
There  is now a caveat taken  over the asset by the AFP-led Criminal Assets Confiscation Taskforce.
Kamay, who appeared briefly in court in Melbourne last Friday, arranged $500,000 in bail, agreeing to surrender his passport, and live with his parents at their 1000 square metre property in the Melbourne suburb of Eaglemont. He is due back in court on August 24 for a committal mention.
It appears Kamay secured the apartment as an investment property as Dingle Partners, until this week, had it listed as available with a $2,500 weekly asking price, reflecting a gross 5.4% rental yield. 
It was advertised as available for rent from 26 May, presumably around its intended settlement. 
<div class="propImages">
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<div id="imageContainer"><img class=" allImages" src="https://cdn.portplus.com.au/742/2649068/20058171_x350.jpg" alt="" hspace="" vspace="" height="350"></div>
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<div class="clearBoth">FOR RENT    $2500 per week</div>
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<div class="propDetails">
<div class="propDetailsLeft">
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<div class="bbc">
<div class="bedIcon"><img src="https://202.91.7.245/storage/templatedWeb/13_742_new/resources/images/bed.png"></div>
<div class="bedValue">3</div>
<div class="bathIcon"><img src="https://202.91.7.245/storage/templatedWeb/13_742_new/resources/images/bath.png"></div>
<div class="bathValue">3</div>
<div class="carIcon"><img src="https://202.91.7.245/storage/templatedWeb/13_742_new/resources/images/car.png"></div>
<div class="carValue">2</div>
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<div>
<div>FURNISHED HIGH END LOFT APARTMENT WITH A QUINTESSENTIAL MANHATTAN FEEL</div>
<div>3/ 47 O'GRADY STREET ALBERT PARK</div>
<div>
Available 26 May 2014
Bond $15,000
Rent per calendar month $10,863
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The apartment was marketed before being taken down from the website as a cutting edge transformation over three state-of-the-art floors."The international standard warehouse inspired apartment fuses innovative interior design with bespoke style to create a spectacular inner city abode."
The four apartments were recently installed into a red brick former cinema turned office warehouse that was offloaded <a href="/news"></a>by a company associated with <a href="/expert-insights/investing/the-block-albert-park-warehouse-price-appreciation-in-history">Lloyd Williams</a>, the Melbourne property developer.
<a href="/news/substance-over-style-as-chantelle-and-steve-win-the-block-2014-fans-v-faves">The Block Albert Park results</a> were as follows:
<ol>
<li>Steve and Chantelle, 1/47 O’Grady: $2.47 million ($636,000 above the adjusted reserve)</li>
<li>Alisa and Lysandra, 3/47 O’Grady: $2.375 million ($616,000 above the adjusted reserve)</li>
<li>Kyal and Kara, 2/47 O’Grady: $2.44 million ($567,250 above the adjusted reserve)</li>
<li>Brad and Dale, 4/47 O’Grady: $2.31 million ($507,250 above the adjusted reserve)</li>
</ol>
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Alleged ABS insider trader Lukas Kamay, the three time property investor with restraining order

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The federal budget has paved the way for Melbourne’s suburbs to shine, underpinned by the infrastructure package and improving access to employment hubs.
LJ Hooker national research manager, Matthew Tiller, said that the capital works injection and low interest rates are expected to provide a lift for property markets near the major project zones.
“The infrastructure package will help alleviate housing affordability issues by bringing new housing markets closer to centres of employment,” he said.
“A number of the projects will help ensure employment opportunities are evenly spread across cities and regional areas and ensure housing demand and price growth is not distorted,” said Tiller.
LJ Hooker’s state manager for Victoria, Paul O’Regan, said that fringe and outer suburban markets will benefit the most, including:
<ol>
<li>Richmond 
</li>
<li>Collingwood 
</li>
<li>Abbotsford  
</li>
<li>Brooklyn 
</li>
<li> Tottenham  
</li>
<li>Sunshine 
</li>
<li>Footscray</li>
</ol>
He believes these areas will be the “major beneficiaries” of the spending, and will come onto investors’ radars.
“Those who purchase property in the outer suburbs will see the social and lifestyle benefits of having a shorter commute to work, alleviating pressure on the inner city areas,’’ he said.
Tiller said that the $1 billion for East-West Link Stage 2 will lessen congestion on the Monash West Gate Freeway.
“Surrounding suburban streets will be spared the current ‘rat running’ but it’s accessibility to the CBD for western suburbs residents which will be the catalyst for further development,’’ he explained.
The current price growth experienced in Melbourne is also expected to continue in the capital.
Other major projects that should see property markets doing well across the country include the Badgerys Creek airport, the 33 kilometre Westconnex and the Toowoomba Bypass.
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