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

Joel Robinson

Conquest partners with Woolworths to deliver mixed-use Waterloo project

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

The Rothschild reinterprets Rosebery’s industrial DNA into residential form

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

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

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

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

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

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

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

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?

Nearly a year after purchasing the former Leo's Fine Food &amp; Wine supermarket in Kew for a reported $52 million, Melbourne developer <a href="https://www.apartments.com.au/developers/orchard-piper">Orchard Piper</a>, in a consortium with billionaire James Packer, has filed development plans for the site.

The proposal includes just under 200 apartments on the 6,835 sqm block, which spans <a href="https://www.apartments.com.au/new-apartments/26-36-princess-street-kew-vic-3101">26-36 Princess Street and 11-15 Brougham Street</a>. Approval is being sought through the Department of Transport and Planning’s (DTP) Development Facilitation Program (DFP).

The buildings, designed by Wardle, will vary in scale and rise up to 18 storeys. One-, two-, three- and four-bedroom apartments will be offered, along with townhouses. Ten per cent of the total dwellings will be allocated to key worker housing.

The development will also include 19 new retail premises, comprising a mix of shops, restaurants and cafés, including a dedicated space for a high-quality produce offering similar to Leo’s.

<img alt="Kew" data-entity-type="file" data-entity-uuid="67cc85a5-a9d8-4eaa-95ae-fd93762d3297" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%208.15.07%E2%80%AFAM.png?VersionId=_p57VJNE2w16xNXB4ISvu3mnVHDDk86R" />

Orchard Piper noted the development is "designed to revitalise the Junction with high-quality housing and retail, while also improving the public realm."

"Assembling an expert team, we've been working with leading architects Wardle and landscape architects Oculus on a site-sensitive design. Wardle is one of Australia's pre-eminent architectural practices, and its founder, John Wardle, is a former long-term Kew resident with an intimate knowledge of the area.

"After close to a year refining the plans, our current opposition embodies Kew's unique character and meets the community's needs, including detailed consideration of the surrounding building design, streetscape conditions and broader planning context."

On top of the extensive retail component, the opportunity to deliver offsite public realm works, involving the council owned land to the south, would include a comprehensive new landscaped laneway strategy that connects Athenaeum Place into the site, a new public park, and the relocation of the public parking currently on the site to the adjoining council land.

<img alt="Kew" data-entity-type="file" data-entity-uuid="02da73ff-e9d9-4e6a-8b6c-75c6f4cb3b01" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%208.15.12%E2%80%AFAM.png?VersionId=NXlzip8H0suSqc.X2H6nLKZr6LB1joJ." />

Orchard Piper, led by Luke Mckie and Rick Gronow, is currently delivering The Carter building on St Kilda Road and One Toorak Place in Toorak village.

Kew has been a popular suburb for new development in recent years. The likes of Piccolo, ANGLE, and Carpe are delivering projects in the area.

&nbsp;

&nbsp;

First look: Orchard Piper, James Packer's Kew development revealed

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One of Melbourne's most renowned buildings is up for sale. Investors are being offered a rare opportunity to buy the Prahran Post Office in Prahran, which has been listed for sale with price expectations of about $10 million.
Located in one of Melbourne’s most sought after boutique shopping strips, the <a target="_blank" href="https://cbre.realcommercial.com.au/property-retail-vic-prahran-500879895" x-apple-data-detectors="true" x-apple-data-detectors-result="19">168 Greville Street</a> property, is a combined retail and office building over three levels. The total building area is 1,890 square metres.
The property is expected to attract strong interest from private investors and self-managed super funds.
CBRE's Josh Rutman, Tom Tuxworth and Mark Wizel have been appointed exclusive marketing agents.
Mr Rutman described the property as a "trophy passive holding"', highlighting that the building is fully leased. Among the tenants in the building is renowned Italian restaurant Zucca Rossa. 
Expressions of interest close on 25 October. 
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Prahran Post Office on the block with $10 million expectations

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A large industrial site in Melbourne's western suburb of Altona has fetched $3.62 million 
The 34,510 square metre parcel of industrial land,  at 44-58 Marshall Road, was purchased by an owner occupier/builder, who is looking to construct a large scale warehouse, providing jobs for the local community.
The price represented a sale rate of $105 per square metre.
“This successful sales result suggests that the Western Suburbs of Melbourne have rebounded from the subdued economic conditions experienced in recent years,” said DTZ Associate director of industrial, Mr Rob Mirabello.
“We are witnessing an increase in demand for development sites in Melbourne’s West as businesses are now realising the value of the area with sophisticated road infrastructure in place and a strong, readily available labour force.”
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Altona industrial site fetches $3.62 million

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A new approach has been taken for Mornington Peninsula’s $650 million Martha Cove development, with an alliance forming between three stakeholders – development company Three Pillars and receivers and managers KordaMentha and PPB Advisory.
Set on Safety Beach, the 94-hectare residential marina development offers house and land packages and will consist of around 1,100 residential dwellings upon completion.
Martha Cove will also include 750 marina berths, a commercial precinct and aged care facility.
Broken into three precincts, PPB Advisory will develop Sovereign Point, KordaMentha will look after Hidden Harbour and Three Pillars will develop Harbourside.
<img alt="Martha_Cove_three_key_stakeholders_L-R_Tom_Hoogenbosch_Three_Pillars_Berrick_Wilson_KordaMentha__Ian_Carson_PPB_Advisory_2" height="315" width="470" src="/images/stories/2013/10/04/Martha_Cove_three_key_stakeholders_L-R_Tom_Hoogenbosch_Three_Pillars_Berrick_Wilson_KordaMentha__Ian_Carson_PPB_Advisory_2.jpg">
Martha Cove key stokeholder: (left to right) Tom Hoogenbosch Three Pillars, Berrick Wilson KordaMentha &amp; Ian Carson PPB Advisory
“The stakeholders are working towards common outcomes so it made sense to work together to create harmony, synergies and economies of scale,” said Berrick Wilson, national head of real estate at KordaMentha,
“We all benefit from a joint approach and marketing initiative, and individual precincts will draw in inquiry to provide purchasers with ample choice.
“This project has been a decade in the making and is unlikely to be repeated any time soon as you simply can’t find a site like this with direct access to the Bay. When it’s gone, it’s gone,” says Wilson.
Three Pillar’s Harbourside development offers three-bedroom house and land packages from $429,000 and four-bedroom homes from $499,000.
Hidden Harbour offers house and land packages from $395,000 and Sovereign Point offers house and waterfront luxury from $960,000.
The first stage of Harbourside was released four months ago and so far 55 terrace homes out of 80 have sold.
Sovereign Point was released this week and so far one house and land package has been snapped up, out of 30 on offer.
“There is a limited number of absolute waterfront houses and land blocks available in this unique peninsula location,” says Ian Carson, chairman of partners from PPB Advisory.
“It’s still possible to buy a waterfront home for less than $1 million – that is rare and very appealing to a wide range of buyers,” says Carson.
The first stage of Harbourside began construction in July and is scheduled for completion by March next year.
Hidden Harbour and Sovereign Point completion dates are subject to settlements.
The median house price in <a target="_blank" href="/news">Safety Beach</a> is $520,000, an 18.6% change in the past five years, according to RP Data.
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Alliance forms for Mornington Peninsula's $650m Martha Cove development

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Visiting 171 Collins Street and entering in, it's a little like a maze, but with crisp white walls and suggestions of technology from every corner. Property Observer was given special access to see the building.
{yoogallery src=[images/stories/2013/10/01/col]}
With a total net lettable space of 33,500 square metres, the project, completed in late May 2013, has already been a place where prestigious tenants have set up camp.
<blockquote class="twitter-tweet">
At 171 Collins Street Melbourne for a closer look at the offices <a href="https://twitter.com/search?q=%23propertyobserving&amp;src=hash" target="_blank">#propertyobserving</a> <a href="https://t.co/Z0enlWgg5n" target="_blank">pic.twitter.com/Z0enlWgg5n</a>
— Jennifer Duke (@JennieDuke) <a href="https://www.propertyobserver.com.au/https://twitter.com/JennieDuke/statuses/380217048887861248" target="_blank">September 18, 2013</a>
</blockquote>
Key tenants
BHP Billiton (mining company headquarters)- 13,510 square metres over Levels 11–18 of the office tower and 802.8sqm for their Business Centre on the ground floor
Evans and Partners (stock brokers) - 1,700 square metres across seven levels of the Mayfair Building
Egon Zehnder (global executive search firm) - 986.9 square metres on Level 10 
Dolce &amp; Gabbana (fashion outlet)
Andrew McConnell (restaurant)
<img src="/images/stories/2013/10/01/collins-oct-1-two-small.gif" width="470" height="641" alt="collins-oct-1-two-small">
It's not just that the air conditioning is in the floor and can be individually altered, or the efficient elevator design that groups people together, but a combination of small elements that makes the building stand out. The floor-to-ceiling windows, tilted slightly, also have a special ceramic frit covering that helps with energy efficiency and internal temperature and also acts as a shade screen. The axis helps reflect light to provide a backdrop for the Cathedral.
Key players in the project
Cbus property
“We have delivered a genuine, new Premium Grade asset for Melbourne to admire and be proud of; a building to keep.  Bates Smart was commissioned to design the building because of their long history and portfolio of buildings that are unashamedly modern, but with a timelessness, credibility and integrity about them.”
(Truman Dare, Senior Development Manager)
Charter Hall
“We are extremely proud of this significant achievement which solidifies 171 Collins Street’s position as a world leader in sustainable design; a building that is superior in both architecture and environmental credentials.”
(Adrian Taylor, head of Wholesale Partnerships)
Bates Smart (Architect)
"This is a landmark development for Melbourne and one which heralds a new era of office building design in Melbourne and Australia. The crystalline features of the design exemplify the rich and prestigious status of this site and are brought to life in an elegant and refined vertical woven sculpture.” 
“The historic Mayfair building is embraced by the new tower through the atrium, which is wrapped by a nine story curtain of glass that pulls everything together and makes the old and new work in harmony.”
(Kristen Whittle, director)
Umow Lai (ESD and Services Design)
“171 Collins Street is an excellent example of a refined design for a well-engineered building that we were involved with from the concept stage right through to the end.”
(Eben Simmons, sustainability expert and associate director)
Brookfield Multiplex (Builder)
APP Corporation (Project manager)
URBIS (Town Planner)
Knight Frank (Property Manager)
Click to enlarge <img src="/images/stories/2013/10/01/Floorplans-oct-1-small.gif">
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/10/01/StackingPlan-oct-1-big.gif" rel="shadowbox"><img src="/images/stories/2013/10/01/StackingPlan-oct-1-small.gif"></a>
On the ground levels, two windows of every four are frosted to help fit in with the outside laneway feel. This was a requirement from Council. We are also shown around the carpark (with 137 car spaces and 24 motorcycle spaces), and the bicycle rank (where there are 280 bicycle spaces).  It’s the first new PCA Premium Grade office development on this end of the Street for the last two decades.
There's a hotel feeling. Not only are there couriers, and assistance available - we're later told that if someone needed sold out P!nk tickets or similar these are the staff members that would know how to find them - but the bathrooms, change rooms and fresh towels all feel like overnight luxury, not a working week in an office highrise. With showers, lockers, a courier drop-off zone, there are so many features that it’s hard to keep up.
<blockquote class="twitter-tweet">
Office bathroom at 171 Collins, five star resort feel <a href="https://twitter.com/search?q=%23propertyobserving&amp;src=hash" target="_blank">#propertyobserving</a> <a href="https://t.co/7yxrVyj3ed" target="_blank">pic.twitter.com/7yxrVyj3ed</a>
— Nicola Trotman (@NicolaKTrotman) <a href="https://www.propertyobserver.com.au/https://twitter.com/NicolaKTrotman/statuses/380222752512159744" target="_blank">September 18, 2013</a>
</blockquote>
Then there's the retail area downstairs. As we walk through, they're not yet completed. Instead, it's bare concrete walls and floors. They're waiting on tenants, and are not too worried about leasing the space. In fact, we're told that they recently said no to a retail tenant that they felt just didn't quite fit the feeling of what they're trying to achieve. What it is that they are after is fairly clear - preferably a cafe or a restaurant tenant, with a specific Melbourne dim-lit laneway feel that caters to an upmarket crowd.
Having already <a target="_blank" href="https://www.propertyobserver.com.au/retail/dolce-gabbana-set-to-open-at-171-collins-street/2013040859441">secured Dolce &amp; Gabbana as a tenant</a>, at which Property Observer<a target="_blank" href="https://www.propertyobserver.com.au/victoria/dolce-and-gabbana-open-in-melbourne-after-a-five-year-hunt/2013091064912"> </a><a target="_blank" href="https://www.propertyobserver.com.au/victoria/dolce-and-gabbana-open-in-melbourne-after-a-five-year-hunt/2013091064912">attended the preview</a>, it’s not surprising they’re confident.
{yoogallery src=[images/stories/2013/10/01/dol]}
On September 9, at 4pm, media were invited along to see the inside of the 350 square metre Dolce and Gabbana fit out. With canapés and champagne in the room, as well as clothes on display, it was said to be a ‘perfect’ site for the store due to not only the street front location on prestigious Collins Street, but also the ability for it to appear as though there is a separate male and female store – despite both being in the one shop.
In fact, we’re told that they’ve been searching for a site of this caliber for the past five years. It’s well decked out now, with patterned wallpaper that seems as though it’s made out of thick fabric, and all assumptions are that they’re paying a pretty penny for it. This ‘Paris end’ of Collins Street, where big-brand names include Prada at 77, Gucci at 161, Chanel at 209 and Tiffany &amp; Co. at 267, rents for around $4,000 per square metre. 
But now we’re in the office building, a world apart from high-fashion. Winding down towards the retail end beneath, we’re shown into the bare bones of Andrew McConnell’s restaurant. There’s nothing here yet – except for white tape marking out where the chairs and tables may be. The restaurant, ‘Super Normal’ will be open in early 2014 and has a storefront on Flinders Lane. It’s very easy to imagine an upper end foodies haven, with a basement feel about the space, and many will be familiar with other popular restaurants from McConnell, such as Cumulus Inc.
The <a href="https://www.goodfood.com.au/good-food/food-news/spice-up-your-delight-during-good-food-month-20130902-2t0b8" target="_blank">pop-up "Supernormal Canteen"</a> will open on Gertrude Street, Fitzroy for Good Food Month, which may give some sort of suggestion as to what to expect at 171.
We also had the opportunity to ask the senior development manager for Cbus Property, Truman Dare, some of his thoughts on the project. See over page for his responses.
 
<hr class="system-pagebreak">
Q&amp;A with Truman Dare, Senior Development Manager at Cbus Property
How do you select the tenants? 
Prior to constructing 171 Collins Street, BHP Billiton committed to the building for their global headquarters. Cbus Property and Charter Hall are also currently actively marketing 171 Collins Street to lease. We undertake a number of marketing initiatives to ensure the asset is well known to potential lessee’s, and that the attributes of 171 Collins Street are promoted appropriately. We also have strong links with the Tenant Representatives throughout Australia, who are all aware that 171 Collins St is the first premium building constructed in Melbourne in 20 years and who promote the asset to their clients accordingly.  
Walking around the building I was certainly very aware of how individualised each of the office spaces felt – how much interest do different features garner for different spaces e.g. terraces? 
<blockquote class="twitter-tweet">
Terrace on 171 Collins Street <a href="https://twitter.com/search?q=%23propertyobserving&amp;src=hash" target="_blank">#propertyobserving</a> <a href="https://twitter.com/propertyobs" target="_blank">@propertyobs</a> <a href="https://t.co/0AGErkCEWH" target="_blank">pic.twitter.com/0AGErkCEWH</a>
— Jennifer Duke (@JennieDuke) <a href="https://www.propertyobserver.com.au/https://twitter.com/JennieDuke/statuses/380222854689611776" target="_blank">September 18, 2013</a>
</blockquote>
The efficient floor plates enables tenants to individualise their fit-out, and we have seen great results with the fit-outs currently in the building. Level 6 has a terrace which is for the exclusive use of the tenant on that floor, which adds a point of difference. Generally, tenants are also attracted  to the base building amenities, with high quality shower and change rooms, destination control lifts, and PCA premium grade finishes, services and building management. 
Are retail tenants difficult to select? 
We have been fortunate to secure retail tenants of the calibre of Dolce &amp; Gabbana and Andrew McConnell to 171 Collins Street. We are currently targeting restaurant and café operators who we believe will add amenity to the building and complement our existing retailers. When assessing potential retailers, we carefully examine the previous experience of the operator, their proposed fit-out for the tenancy and the product that they’re proposing to sell so that we’re comfortable they are the right fit for the building.  
Can you explain the thought process behind the overall feel of the building, and how you intend to maintain this?
In terms of maintaining the overall feel of the building, we are diligent in selecting materials, furniture and signage that is consistent with the feel of the building. We have an on-site management team who are responsible for managing the building to a PCA premium grade standard. We also select service providers who understand the concept of a premium building. Our cleaners and security staff wear a 171 Collins uniform, and we have a concierge service that all our tenants can utilise for restaurant bookings, dry cleaning, theatre tickets and many other services such as what a five star hotel operator would be able to provide. We also expect that tenants fit-outs are consistent with the feel of the building. 
<blockquote class="twitter-tweet">
171 Collins Street views <a href="https://twitter.com/search?q=%23propertyobserving&amp;src=hash" target="_blank">#propertyobserving</a> <a href="https://t.co/qQ8rJVI5w0" target="_blank">pic.twitter.com/qQ8rJVI5w0</a>
— Jennifer Duke (@JennieDuke) <a href="https://www.propertyobserver.com.au/https://twitter.com/JennieDuke/statuses/380218965013708801" target="_blank">September 18, 2013</a>
</blockquote>
The sustainability aspect
Bates Smart provided this list of the sustainability credentials of the building:
Nine storey atrium for natural light
Floor to ceiling double glazing
Ceramic frit on glass façade to reduce heat gain and glare
Dedicated waste storage area for separation, collection and recycling
Advanced rainwater and grey water reuse system
Highly flexible under-floor air conditioning system
Integrated lighting and security
Low VOC and formaldehyde emissions
End of trip facilities
Destination controlled lifts
 
Click to enlarge
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Highrises and high-fashion: 171 Collins Street

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There may have been fewer auctions this week due to the grand final but that has not prevented people buying and selling.
RP Data’s preliminary results include 63 auctions reported in Melbourne this week with 53 finding a buyer.
Across the broader market there have been 1,748 houses and units sold over the last week. The median sale prices have remained mostly stable with $462,000 being recorded for houses and $425,000 for units.
Over the same time the daily index recorded a 2.2% rise in Melbourne which was consistent with the 2.1% recorded in Sydney. Over the medium term Sydney has stronger price growth as different fundamentals apply.
Time on market for houses dropped from 40 to 39 days over the last week.

<hr>
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
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Grand Final hasn't prevented Melbourne auction sales: RP Data

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With 2,000 homes currently in Diggers Rest, Investa's general manager Victoria, Paul O'Brien, gave Property Observer a look into how they intend to develop the community and bring an injection of properties onto the market.
The new house and land estate, <a target="_blank" href="https://www.bloomdale.com.au/about-bloomdale">Bloomdale</a> (pictured below), has 3,500 lots proposed to be built with an approved precinct structure plan in place.
{yoogallery src=[images/stories/2013/09/30/dig]}
"We've got 1,400 lots in that precinct structure plan and we're first off. We're running the start and most of the frontage is with us. The first stage we've done is the Eastern side," said O'Brien. 
Currently, the township needs to be larger.
"The township's not big enough, you need a population of around 10,000 to make it a decent township where you get the police and all the services you want to get. It has a fire brigade there, and good football ovals and a school, but you need the larger cachment to make it a community," he said.
Gesturing to the masterplan (see the images below) he explained that there are six lots left available from stages one and three, and that latest achievements include a deal with Woolworths who will set up on the site. Stage four is completely sold.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/09/30/diggers-rest-sept-30-masterplan-big.jpg" title="Click to enlarge"><img src="/images/stories/2013/09/30/diggers-rest-sept-30-masterplan-small.jpg"></a>
There is also a potential deal for a carpark in place.
"Basic land is $163,000 for traditional house block and you can have a townhouse in there for $130,000. You can produce a turnkey townhouse for $300,000," he said.
He runs the numbers quickly. Building cost will come in around $125,000, with an assumed $15,000 margin on the build either way. This, with the land cost of $130,000 for a townhouse, equates to $270,000. Add in an agent's commission fee of $5,000 and the builders are left with a $25,000 profit.While it's tight, he explains that the economy of scale helps keep the cost down for the consumer and the builder.
The reason for the location is that travel is based around the currently underutilised Calder Freeway. While there are bank-ups and congestions on other freeways, this one remains relatively easy to drive.
"You drive casually out, you drive through country, which is why we called it country connected," he said.
Current buyers are largely second and third home buyers, with some first time buyers and a handful of investors. Development around the area will be restricted for some time, he said."It's isolated as far as the growth of the cachment, Melton don't want to connect with Diggers Rest," said O'Brien.
This will assist in maintaining the lifestyle requirement.
"Often if you go to an estate you have to wait until the developer builds the [community infrastructure] and they're not going to do it until they can afford it. Here, it's mostly there, you're coming into an established community. They don't need to hope and pray the road is connected, because it already is."
In February next year, through to October, a display village will be in place. Some housing may be complete between March and July, with residents then starting to move in. When looking at the overall picture, it will take sometime for the area to be developed completely.
"It's about the rate of sale. With 1,400 lots, we'd like to do 14 per month. In theory, we could be out in ten years, but it's probably a 15 year project."
Their historic average, however, is eight sales a month. So it could take up to 17 years.
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Big plans for Diggers Rest

<html><body>Australian Property Monitors (APM) has released a list of results from 33 auctions in Melbourne for the weekend of  September 28. <a rel="nofollow" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" target="_blank" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's Melbourne auction results for September 28 weekend

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<div>RP Data is expecting only 80 auctions across Victoria this week with 64 in Melbourne alone. The auction market typically takes a break each year at this time to allow vendors and real estate agents to enjoy the AFL Grand Final. Incidentally there are seven auctions scheduled in Perth with all except one on Sunday.</div>
<ul>
<li>Final clearance rate week ending 22 September: 75.9%</li>
<li>
Melbourne auctions expected week ending 29 September: 64
</li>
<li>
Melbourne private sales time on market week ending 22 September: 40 days (houses)
</li>
<li>
Melbourne vendor discounting market week ending 15 September:  -6.3% (houses)
</li>
<li>
New listings in Victoria: 7.9% higher in month ending 22 September
</li>
</ul>
After this weekend’s hiatus the market will enter a very busy period until Christmas on a very strong footing with eight consecutive weeks of clearance rates in excess of 70%.
Over the past four weeks the median price of houses sold by private sale in Melbourne has been $460,000 which is only a minor variation on the $455,750 recorded a month ago. The moderate nature of price growth in Melbourne is also shown in the RP Data-Rismark Home Index which has shown a 1% rise in prices over the past month.
 
<hr>
 Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
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RP Data's Melbourne weekend auction preview for September 28-29

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Whether you’re in Melbourne, Perth or elsewhere around the country tomorrow, it will be hard to escape footy fever as Hawthorn and Fremantle battle it out for the 2013 AFL premiership.
Footballers are worshipped by die-hard fans, however, like any other physically tough athletic pursuit, their time in the spotlight can be brief. Therefore, giving players advice on planning for life beyond football has become a key focus of football clubs.
When they hang up their boots, many stars of the field go on to run their own business – with their celebrity status giving their ventures a good kick off the ground. Some start their companies on the side while still playing, in order to capitalise on the public’s good will. No doubt the discipline, teamwork and marketing savvy they learn from the game helps in their pursuit.
We've has gathered a list of some of the most interesting football-to-business ventures in recent times.
1. Up and coming
Melbourne Football Club players Joel Macdonald, James Strauss and Rowan Bail are teaming up off the field to launch their own business called Liquorun. As the name suggests, it is an alcohol delivery service which will see customers order their beer, wine and spirits online, and have them delivered to their door. Here’s the point of difference though – they promise to do so within the hour.
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/planning/business-planning/afl-players-set-to-launch-a-start-up-to-deliver-alcohol-within-the-hour-to-your-door/2013071710240">Macdonald said</a> the idea was hatched over a post-training coffee brainstorm.
“A little while back, I was involved in an altercation in a taxi rank in Brisbane and ended up getting arrested,” Macdonald said. “I had this vision that the hospitality and late-night transport industry needed a bit of a shake-up.
“Straussy [James Strauss] had a night where he was drinking with a couple of mates and they ran out [of alcohol], and the night ended because they couldn’t drive to a bottle shop and it was too far and a bit risky to walk.”
Macdonald, Strauss and Bail have partnered with a 24-hour bottle shop in Melbourne and venture technology group Blue Chilli. They plan to launch Liquorun in Melbourne in October, followed by Sydney and Brisbane.
Hawthorn star Cyril Rioli is also involved in a brand-new venture, <a target="_blank" href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/technology/websites/three65-underwear-aims-to-make-cheap-mens-undies-cool/2013090410634" rel="nofollow">with StartupSmart reporting</a> he is a shareholder in online men’s underwear subscription service Three65 Underwear.
2. On your bike
There must be something in the water at Melbourne Football Club, as player James Magner has also ventured into the business world.
<a target="_parent" href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/growth/start-up-profiles/glow-fixie-founder-afl-player-james-magner-from-melbourne-football-club-says-be-passionate-about-new-business/2013091710735" rel="nofollow">He said</a> that while looking to upgrade his bike, he came across glow-in-the-dark fixed single-gear bikes, known as ‘fixies’, which were sold in the US.
He was inspired to import and sell the colourful bikes online, so launched Glow Fixie, appealing to the inner-city “hipster” crowd.
“I thought ‘that’s a pretty awesome point of difference’,” Magner said.
3. Behind the bar
Running pubs, nightclubs, cafes and restaurants has been a common theme for ex-players over the years. Former star-player and Western Bulldogs captain Luke Darcy has followed this lead. He is involved in his family’s business the Darcy Group, which runs a chain of Melbourne-based hotels. These include The Precinct in Richmond (a stone’s throw from the heart of football, the MCG), and The Motel nightclub in South Melbourne among others.
In August he told <a target="_blank" href="https://www.smh.com.au/small-business/managing/what-luke-darcy-did-next-20130813-2rufq#ixzz2g310j7pH" rel="nofollow">The Sydney Morning Herald</a> that a profile from playing football can help in business pursuits.
“There’s been a long history of footballers buying into pubs. I think it’s probably because of the idea that if you’re trying to attract patrons then someone with a profile would make a good publican,” he said.
4. In fashion
He’s admired on field as much for his prowess as his striking looks, so it’s no surprise Hawthorn star Lance ‘Buddy’ Franklin has a side career in running a fashion brand.
He’s behind unisex street-style fashion label Nena &amp; Pasadena, and reportedly owns a fashion boutique, the Neverland Store, in Melbourne’s trendy retail precinct, Chapel Street.
His fashion brand, which he often models for, has <a target="_blank" href="https://www.smh.com.au/lifestyle/fashion/lifeguard-booted-off-bus-over-buddybrand-tshirt-20130709-2pnm0" rel="nofollow">sparked controversy</a> over the past few years for its provocative prints on T-shirts.
Also in fashion, Hawthorn’s Michael Osborne is cofounder of Melbourne-based pyjama company Sleep'n Round, which launched in 2009, and which also has a store in Chapel Street.
5. Money and suits
In the 1990s, Chris Langford was a star on the field for the Hawthorn Football Club. In 2011, he cofounded Newmark Property Group, a Melbourne-based business which is involved in property funds management and development.
Similarly, embattled Essendon coach James Hird is involved in the corporate world, as a non-executive director of savvy marketing group Gemba.

<hr>
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
 
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From the footy field to running a business – star AFL players who’ve taken the leap

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Two useful statistics for measuring the health of the local market, particularly the private sale one, are the number of days a dwelling is on the market for and the amount the vendor discounts the property over the course of the advertising campaign.
A review of those metrics for the Melbourne private sale market for houses shows that time on market is approaching the lows of 2010 and 2007 but that vendors expectations are less likely to be matched by the market.
In July the time on market was 44 days compared to 62 days a year ago and above the 36 days in September 2009. It’s worth noting that 36 days was the lowest recorded since the series begun in 2005.
If the market continues to strengthen as suggested by recent consumer confidence data then this will also fall, as long as vendors’ price expectations remain in line with the market.
A similar pattern is evident when looking at the level of discounting. It is commonly understood that unlike an auction, homes that sell through private sale do so for less than their advertised price, but the lower the difference the stronger the market.
In July the average vendor discount was -6.5% compared to -7.5% a year ago and above the -4.7% in January 2008.
The improving trend is backed up by more recent preliminary data but does not change the underlying message that the current market is better than a year ago but still below its strongest.
Buyers between now and Christmas will face more competition but still have negotiating power.

<hr>
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
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