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

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Three unlikely Melbourne suburbs have appeared on  the Real Estate Institute of Victoria's (REIV) million-dollar suburbs list, but share very few characteristics with well-known $1 million-plus hotspots like inner-suburban East Melbourne and the coastal enclave of Brighton.
In the year ending February 28, REIV’s $1 million suburbs list contained 39 suburbs, including Kangaroo Ground, Warrandyte South and Red Hill South.
Kangaroo Ground is located 26 kilometres northeast of Melbourne’s CBD and has a median house price of $1,062,500.
The average size home is four bedrooms and the suburb population is 1,014.
Not far from Kangaroo Ground is Warrandyte South – 24 kilometres northeast of Melbourne CBD – which has a median house price of $1,325,000.
The average size home is five bedrooms and the population of the suburb is 647 persons.
Towards the Mornington Peninsula sits Red Hill south, with a median house price of $1,687,500.
The average size home is four bedrooms and the population of the suburb is 1,170 persons.
The <a target="_blank" href="https://www.reiv.com.au/">REIV</a>’s Robert Larocca says each of these suburbs are on the edge of the metropolitan area, meaning that proximity to the CBD is not a factor underpinning their high prices.
Larocca says it’s a lifestyle choice to purchase in these suburbs, as buyers could live much closer to the CBD for the same price.
Characteristics that differ from their inner-city counterparts include larger dwellings – four to five bedrooms are the average – and larger blocks.
The average size block in Kangaroo Ground is 14-acres and the median age of residents are 40 years old.
“The higher average age underpins very high levels of home ownership, between 41% to 52%, compared to the city wide average of 33%,” says Larocca.
The three suburbs don’t appear in the quarterly median price series due to their small sizes and their low volume of sales.
Larocca says the trend will likely continue as the city becomes more dense and suburbs in green wedges become comparatively scarce, desirable and expensive.
A five-bedroom, four-bathroom home on Kangaroo Ground-Warrandyte Road is listed for sale for over $2.3 million.
The 40-square-metre home sits on approximately 2.45 hectares.
It has been listed by Morrison Kleeman Estate Agents Eltham and last sold in 2009 for $1.3 million.
<a href="https://www.realestate.com.au/property-house-vic-warrandyte+south-112762831" target="_blank">A four-bedroom home on Green Ridge</a> in Warrandyte South (pictured below) sold on March 8 for around $1.5 million.
<img alt="warrandytemarch13one" height="353" width="470" src="/images/stories/2013/03/warrandytemarch13one.jpg">
It boasts two bathrooms, a heated outdoor pool and spa and a Balinese hut with a wet bar.
The house was built in 2000 and sits on just over 0.4 hectares of land.
A <a href="https://www.realestate.com.au/property-acreage+semi+rural-vic-red+hill-112842655" target="_blank">four-bedroom, two-bathroom home</a> on Paringa Road, Red Hill South (picture below), is currently on the market for offers over $1.7 million.
<img src="/images/stories/2013/03/redhillmarch13one.jpg" width="470" height="351" alt="redhillmarch13one">
Situated on a 5.6-hectare block, the property boasts a tennis court and an orchard.
It has been listed by Blane Paton from Paton Estate Agents Balnarring. 
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Kangaroo Ground among little-known $1 million Melbourne suburbs: REIV

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Property development group Little Projects has sold all 388 apartments in its ILK South Yarra development just as the building topped out at 24 storeys.
To celebrate the company ran a topping out ceremony where a crane hoisted an olive tree on top of the concrete structure while managing director Michael Fox posed for a photo (below).
<img alt="ilkmarch13three" height="313" width="470" src="/images/stories/2013/03/ilkmarch13three.jpg">
The tradition is a somewhat common practise in the construction industry with many skyscrapers and bridges being topped off with an evergreen tree, supposedly for good luck. The tradition is an ancient Scandinavian practise that has been carried on through the ages and popularised by immigrant ironworkers in America.
In this case the ceremony did highlight the wide panorama residents at the top end of the tower would have from their apartments.
According to Little Projects, <a target="_blank" href="https://www.ilksouthyarra.com.au/index">the building</a> is just months of being completed with settlements planned for late July 2013.
<img src="/images/stories/2013/03/ilkmarch13one.jpg" width="470" height="300" alt="ilkmarch13one">
The project will include a landscaped roof garden with barbecues and dining area, a large indoor/outdoor cinema and a swimming pool with a sauna and a gym.
<img src="/images/stories/2013/03/ilkmarch13two.jpg" width="470" height="295" alt="ilkmarch13two">
Fox says the sales of the building outperformed other projects in the area.
“ILK sold out quickly, ahead of other competition in the area. We attribute this to its enviable South Yarra location, iconic building design, outstanding residents’ amenity and the high quality fit out of each of the apartments. We have dedicated some of the best views and spaces in the building to amenity which allows for more of the residents to enjoy,” Fox says.
The company has just launched Central South Yarra, a new project in the Forrest Hill Precinct of <a href="/news">South Yarra</a>.
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Little Projects celebrates sale of all units at South Yarra's ILK development

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Asian buyers continue to buy into Melbourne’s eastern suburbs – in particular the suburb of Balwyn – for the sake of their children’s education.
It is that fundamental desire that makes a suburb like Balwyn so attractive to this core buying constituency.
Balwyn – a picturesque suburb located 10 kilometres east of the CBD – is home to 2,861 residents of Chinese descent, out of a population of 12,944, according to the 2011 census.
The median house price is $1,280,000, and there is ample public transport infrastructure, particularly trams.
Jellis Craig Balwyn director Richard James says the majority of Chinese buyers purchase in high school zones and close to public transport routes that will take their children safely to school.
Balwyn is located in the Whitehorse school zone.
Living within a particular school zone means a place is reserved for you at schools within that zone.
Children may attend schools outside of the school zone they live in, but it depends on the number of vacancies available.
James says Chinese buyers generally buy new properties or properties that have been significantly renovated.
The suburb offers Balwyn High School, but close by are a dozen other secondary schools, including Box Hill High and Canterbury Girls School.
James says Balwyn has developed a large Chinese community and is viewed as a safe place to live.
"People coming from another country feel very safe," he says.
"Balwyn is a very family-orientated location and gets a lot of recommendation from friends and family."
James mostly sells to those with permanent residency, but occasionally sells to people with temporary status or offshore buyers, who are subject to approval by the Foreign Investment Review Board (FIRB).
Balwyn agents say school zoning influences are as important as ever, with Tom Ryan from Jellis Craig Balwyn saying the agency always has buyers wanting to buy in the zone due to the quality of education offered to their children, and the associated price is extremely reasonable.
That’s despite the price rise, especially around 2007, when property commentator Mark Armstrong noted that the price point was pushing some buyers towards Mount Waverley and Glen Waverley.
“You will always get some people who simply cannot afford the Balwyn High zone," says Ryan.
"That situation has not changed over the last 10 years but the amount of people wanting the Balwyn area is always very solid.”
"As long as the school maintains its reputation the sales will continue to flourish, regardless of the prices," says Ryan.
A <a href="https://www.realestate.com.au/property-house-vic-balwyn-112964511" target="_blank">three-bedroom, one-bathroom home</a> on Tonkin Avenue (pictured below) sold on March 2 for $1,252,000.
<img alt="balwynmarch12one" height="353" width="470" src="/images/stories/2013/03/balwynmarch12one.jpg">
Located within the Balwyn High School zone, it was the first time the home was offered in over 30 years.
Situated on 694 square metres, the sale was closed by Steve Chharia from Allens Real Estate Doncaster East.
On the higher end of the spectrum, a <a href="https://www.realestateview.com.au/Real-Estate/5-belmont-avenue-balwyn/Property-Details-sold-residential-4950000" target="_blank">four-bedroom, three-bathroom home</a> (pictured below) sold in the suburb last week for $1,825,000.
<img alt="balwynmarch12two" height="313" width="470" src="/images/stories/2013/03/balwynmarch12two.jpg">
Located only seconds from the Whitehorse Road tram and situated on 752 square metres, the sale was closed by Noel Jones Balwyn.
A <a href="https://www.realestateview.com.au/Real-Estate/2-10-henry-street-balwyn/Property-Details-sold-residential-4947722" target="_blank">two-bedroom, one-bathroom unit</a> on Henry Street sold on March 2 for $912,000.
The unit boasts a secure gated entry, two alfresco courtyards and is located within the Balwyn High School zone.
Marshall White Armadale closed the sale.
Balwyn has had a steady start to the year with a clearance rate of 69% from 29 auctions and Balwyn North has a clearance rate of 73% from 22 auctions.
REIV's policy and public affairs manager Robert Larocca says these rates are spot-on the Melbourne average at the moment of 70%, but it is too soon to draw comparisons.
The average household size in Balwyn is three persons, and family households account for about 70% of the population, according to RP Data.
For more on the allure of Australian property to Asian buyers, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment">download our free eBook. </a>The eBook is also available for<a target="_blank" href="http://propertyobserver.com.au/ebooks/australias-allure-for-asian-residential-property-investment-free-ebook"> free download in Chinese.</a>
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Balwyn’s school zone continues to draw Asian buyers

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The rural homestead, The Rest, situated in the historic town of Flinders on the Mornington Peninsula <a href="https://www.realestate.com.au/property-house-vic-flinders-113030755" target="_blank">has been listed for auction</a> on March 17.
Located only 300 metres from the beach, the house is thought to be built in the 1890s and is in its original, unrenovated form.
It has retained the vintage aesthetic of the era, characterised by its high ceilings, classic detailing and an arched hallway.
Owned by the late Bob Boynton, a former Australian yachting champion, the house features four bedrooms and two bathrooms sitting on a generous half a hectare block, complete with a private garden.
Kay and Burton Real Estate agent Paul Armstrong, who is marketing the homestead, notes the declining number of similar large properties in the suburb.
“There are very few holdings left in the Flinders region that offer blocks of this size,” he says.
Armstrong believes the property will fetch between $1.75 million and $2 million when it goes to auction.
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Late yachting champ's Mornington rural retreat set for auction

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Pollster Gary Morgan doesn't need to take a poll. The Melbourne prestige market is bouncing back a bit. Earlier this month Gary Morgan was the highest bidder when $5.155 million was secured in an East Melbourne auction.
Contested by four bidders, in front of a crowd of 150, its Nelson Alexander listing agent Arch Staver opened with a vendor bid of $3,950,000 for the historic, Claverings.
The first bidder came at $4 million, then $4,050,000. The third bidder came with a bid of $4,125,000.
They were after the chance to become <a href="https://www.nelsonalexander.com.au/properties/buying/east-melbourne-120-powlett-street" target="_blank">the home's third owner </a>as just two families had the property over the past 139 years.
There were 14 rooms comprising up to five bedrooms, along with three formal rooms, a separate consulting/home office suite of three rooms, with reception and waiting room with separate side access.
Also an original cellar and garage and workshop with space for up to six cars on its 752 square metre allotment.
The James Buyer Advocates report on the auction action noted increments of just $5,000 came as the pace slowed at $4,325,000.
The vendors were back with a $4.4 million bid, but soon the final bidder came in at $4,710,000 with two then battling it out to its $5,155,000 hammer price.
"There was jubilation and commiseration offered to the two crowd champions before Mr Staver thanked the crowd for the lively competition and directed the successful bidder into his new home," buyers agent Josie Wagstaff noted.
The pollster Gary Morgan is now about to list his historic East Melbourne mansion in George Street.
The chairman of Roy Morgan Research has engaged Jock Langley of Abercromby on the marketing with The Age saying about $10 million is being sought for the two-storey Victorian designed by architect Charles Webb in 1864.
At that price its considered one of the best houses in East Melbourne.
<div>Meanwhile Mal James of James Buyer Advocates says Melbourne's $3 million plus segment is still something of a mixed story.  </div>
<div>
 In a recent sale James pointed to "a very strong result" at Toorak Road West, South Yarra", which had four bidders and sold under the hammer for, $4,365,000. It was the Alannah Hill offering.
But James noted "some non-events."
He says there are a lot of homes in the price segment were still left unsold from last year, "so it could take a bit of time to clean up that overhang."
James noted, with very few truly trophy homes in the mix, that it won’t be known until Easter if the top end is on its merry wa?y.
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Pollster Gary Morgan to test bounce back in Melbourne's prestige residential market

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Certain Victorian suburbs deemed to have significant local character will be protected from towering apartment developments as part of changes to residential zoning.
Residential zones 1,2 and 3 will be replaced by neighbourhood residential, general residential and residential growth zones.
The 'neighbourhood residential' zone, billed as the strictest zoning in Australia, was created to ensure that any developments in areas with character that are of predominately single and double storey residences “respect the identified neighbourhood character, heritage, environmental or landscape characteristics".
New residential developments will have an eight metre height limit, if there is no other height limit in the area, as well as lot size restrictions.
The zone also allows for easier approval of medical centres and convenience stores to cater to an aging population.
The zone prohibits brothels, cinemas, nightclubs, certain retail premises, offices and others.
The boundaries of the zoning will be revealed with its implementation on July 1.
“This is the first time we will have a zone to genuinely protect neighbourhoods from inappropriate development,” planning minister Matthew Guy told The Herald Sun.
“It provides mandatory controls for councils on the numbers of lot, and on height – it is a very strong zone and it will help communities protect their streetscapes.”
Higher density residential development and office and retail projects will be restricted to the other two new zones – general residential and residential growth.
The reforms may prove unpopular with developers depending on where the boundaries fall.
“Melbourne is home to many important thoroughfares and activity centres which are ideal locations for appropriate housing developments,” Property Council of Australia state executive director Jennifer Cunich told The Herald Sun.
“It is important these areas be zoned correctly in order to provide housing choice for our growing population.”
Guy told The ABC the criteria councils will use to determine the new zones will be developed over the next two months.
"We will work with the Municipal Association and councils to make sure we have a criteria that looks at heritage issues, environmental issues, areas around existing transport links," he said.
The general residential zone will allow moderate housing growth and diversity with a nine metre height limit. The residential growth area will allow for medium density unit developments and will enable minor commercial uses.
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New Victorian zoning rules to keep high-rise developers out of heritage suburbs

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A large crowd of eager bidders and onlookers is expected to gather at the corner of Lygon Street and St Phillip Street this Friday when a rare Lygon Street corner property goes to auction in  Melbourne's Italian food heartland.
Property investors and restaurateurs seeking a trophy retail property asset are likely to be among those bidding for the vacant shop and upstairs residence to be auctioned at noon on March 8.
<img alt="lygonmarch6one" height="351" width="470" src="/images/stories/2013/03/lygonmarch6one.jpg">
"We have received over 100 enquiries and sent out around 15 contracts," says Colliers International agent Tom Noonan who is marketing the property alongside colleague Jeremy Gruzewski.
Noonan expects a price in excess of $2 million.
The 70 Lygon Street property stands at on the corner of Lygon and St Phillip Streets. It comprises 226 square metres of space, of which 75 square metres is ground floor retail on a site measuring 230 square metres. 
The second floor has a three-bedroom residence. 
It has stood vacant since being acquired by the owners of DOC Pizza in late 2010. 
The owners had planned to turn it into a restaurant or café but never went ahead with these plans. 
It previously operated as a florist, which is the signage that remains on the building. 
According to RP Data the property was last listed for rent in October 2010 at $75,000 per annum. 
A sale price of $2 million would equate to a yield of around 3.75% if tenanted. 
In October last year, the historic Lygon Street premises of <a target="_blank" href="https://www.propertyobserver.com.au/retail/lygon-street-premises-of-donatis-fine-meats-slices-records-with-emotion-driven-%24289-million-auction-sale/2012103057521">Donati’s Fine Meats</a> sold for $2.89 million at auction, with a private investor paying nearly $1.4 million above pre-auction expectations – a yield of just 2.3% amid “emotionally-driven” bidding. 
Gruzewski and Noonan also marketed the Lygon Street butchery last year. 
“The sale of the Donati’s premises last year represented only the third commercial property to change hands on Lygon Street in the past two and a half years,” says Noonan. 
“The opportunity to be part of the vibrant, popular precinct that is Lygon Street doesn’t come along often, so when it does, interest is high. 
“We are expecting this new listing to attract strong interest from food and beverage retailers keen to be part of the gentrification of this pocket of Melbourne’s northern suburbs. 
“Serious foodies are now venturing into the north, following the lead of quality restaurants and cafes such as Hellenic Republic, Albert Street Food and Wine and Pope Joan.” 
“This is a versatile property suited to an investor, owner-occupier or developer.
“Vacant possession is also beneficial to investors who are looking to lease out the tenancy as it allows for immediate occupation. The location and current configuration would suit a number of tenancy profiles,” says Noonan.
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Vacant Lygon Street shop goes to auction with $2 million plus hopes

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Investors who placed funds in investment property schemes associated with former South Yarra property developer Mark Ronald Letton may soon receive their first payments since the appointment of receivers more than three years ago.
KPMG joint receivers and managers Damian Templeton and Philip Hennessy, appointed by a Federal Court to properties associated with Letten schemes in February 2010, have notified investors and other claimants that they intend to declare an interim distribution. “It is not yet clear what amount, if any will be available for distribution,” said Templeton in a notice placed in today's The Age and Herald Sun.
ASIC believes that more than 1,000 investors placed more than $100 million in the projects managed by Letten and promoted through a number of companies associated with Letten, particurlarly LGH Administration Pty Ltd and LGH Holdings Pty Ltd.
The investments were made between 1998 and 2010.
<a href="https://www.propertyobserver.com.au/industry-news/melbourne-property-developer-mark-ronald-letten-facing-criminal-charges-over-alleged-unregistered-investment-scheme/2011121452844">Schemes managed by Letten</a> include the Healesville Walk Shopping Centre Joint Venture in Victoria, Reef House Resort in Palm Cove, Queensland and the Yarra Valley Golf Joint Venture in Chirnside Park.
The possibility of investors receiving a payment follows the receivers selling a number of properties in joint venture schemes operated by Letten.
Properties sold by administrators include 167-173 Flinders Lane, a five level office and retail building on the corner of Hosier Lane, which sold for $13.31 million in July 2010, the Glen Centre, retail and offices on Glenferrie Road in Hawthorn, which sold in August 2010.
Investors and claimants must submit a formal proof of claim or investment confirmation form to the receivers by March 25 (or have done so in the past) to participate in the possible interim distribution.
Letten, an accountant and director of LGH Holdings Ltd, is alleged to have promoted and sold investments in commercial property joint venture projects that were required to be registered as managed investment schemes under the Corporations Act.
He is facing 21 counts of operating unregistered managed investment schemes, one count of carrying on a financial services business without an Australian Financial Services (AFS) licence, and 15 counts of obtaining financial advantage by deception involving approximately $1.4 million.
He has been granted conditional bail to appear at the Victoria Country Court on March 20, 2013 for a directions hearing.
Action against Letten dates back to February 2010, when the Federal Court appointed Damian Templeton and Phillip Hennessy of KPMG as receivers and managers to the property of the 18 unregistered managed investment schemes and their related companies and ordered that the schemes be wound up.
The court orders follow an application made by ASIC to the Federal Court on February 2010 for the schemes to be declared unregistered and for receivers to be appointed to the properties in the schemes.
Detailed information for investors can be found on a <a target="_blank" href="https://www.kpmg.com/AU/en/services/Advisory/Transactions-Restructuring/Restructuring/Letten/Pages/Default.aspx">dedicated KPMG - Letten website.</a>
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Interim payment likely for Mark Letten property scheme investors: KPMG receivers

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A five-bedroom, four-bathroom home in Brighton has sold at auction for $6.2 million.
The home, on 1467 square metres across two titles, attracted just the two bidders. Its auctioneer Leigh Hallamore started the auction of the Victoria Street offering by accepting a $4.9 million offer according to the James Buyer Advocates attendee Kristen Hatt.
<img alt="brightonmarch5one" src="/images/stories/2013/03/brightonmarch5one.jpg" width="470" height="313">
Then followed a $5 million second bid.
Announced as on the market around $5.8 million, bidding slowed at $6,000,000 with the second bidder offering another $20,000.
<img alt="brightonmarch5two" src="/images/stories/2013/03/brightonmarch5two.jpg" width="470" height="313">
Then followed another $180,000 taking the sale price to $6.2 million through <a href="https://www.buxton.com.au/?page=why_us&amp;title=Why%20us" target="_blank">Buxton agent Brian Devlin</a>. It had been listed unsuccessfully in early 2012. The expansive family/informal dining and living room had sliding glass walls opening out to Japanese-inspired gardens with tennis court, pool and entertaining area. The last acquistion cost $1.51 million in 2003. It came with parking for five cars.
<img alt="brightonmarch5three" src="/images/stories/2013/03/brightonmarch5three.jpg" width="470" height="313"> 
Below is a list of the ten most expensive sales in Australian capital cities in the past week, as recorded by RP Data.
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/26_victoria_street_brighton_vic_3186/10024489" target="_blank">26 Victoria Street, Brighton, VIC, 3186</a>, five-bedroom house, sold at auction on March 2 by Buxton Real Estate Brighton for $6.2 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/778_orrong_road_toorak_vic_3142/13587970" target="_blank">778 Orrong Road, Toorak, VIC, 3142</a>, five-bedroom house, sold at auction on March 2 by Marshall White Real Estate Armadale for $3.615 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/4_lachlan_avenue_sylvania_waters_nsw_2224/6645593" target="_blank">4 Lachlan Avenue, Sylvania Waters, NSW, 2224</a>, five-bedroom house, sold at auction on March 2 by Ray White Sylvania Waters for $3.47 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/53_shirley_road_roseville_nsw_2069/5961523" target="_blank">53 Shirley Road, Roseville, NSW, 2069</a>, four-bedroom house, sold at auction on March 2 by McConnell Bourn Estate Agents Lindfield for $3.415 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/4_cooper_street_paddington_nsw_2021/5263895" target="_blank">4 Cooper Street, Paddington, NSW, 2021</a>, four-bedroom house, sold at auction on March 2 by GoodyerDonnelley Real Estate Woollahra for $3.23 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/1173_barrenjoey_road_palm_beach_nsw_2108/5301608" target="_blank">1173 Barrenjoey Road, Palm Beach, NSW, 2108</a>, three-bedroom house, sold at auction on March 2 by McGrath Estate Agents for $3.2 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/47_york_street_st_kilda_west_vic_3182/13287147" target="_blank">47 York Street, St Kilda West, VIC, 3182</a>, four-bedroom house, sold at auction on March 2 by Marshall White Real Estate Armadale for $3.13 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/4_glenbrook_avenue_malvern_east_vic_3145/11591950" target="_blank">4 Glenbrook Avenue, Malvern East, VIC, 3145</a>, six-bedroom house, sold at auction on March 2 by RT Edgar Booroondara for $2.97 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/126_bellevue_road_bellevue_hill_nsw_2023/1367147" target="_blank">126 Bellevue Road, Bellevue Hill, NSW, 2023</a>, four-bedroom house, sold at auction on February 26 by Real Estate Redefined Double Bay for $2.755 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/14_liguria_street_south_coogee_nsw_2034/6255697" target="_blank">14 Liguria Street, South Coogee, NSW, 2034</a>, four-bedroom house, sold on February 27 by Black Lifestyle Property Randwick for $2.65 million
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Brighton's $6.2 million offer tops the week's sales 

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Mirvac has spent four decades developing its client base and branding, as much as its impressive residential property portfolio.
Now it has launched a project-specific brand loyalty-royalty scheme for their returning or new clientele.
Their offering, Black Label by Mirvac, accompanies Mirvac’s Array apartment tower at Yarra’s Edge. The campaign comes complete with a one-off, Array-inspired couture garment; Reflection, created for Array by Bowie, with the gown aiming to reflect the architectural beauty of the tower, and to capture the movement and evolving moods of the Yarra, which spelt backwards is Array.
<img height="620" width="470" src="/images/stories/2013/03/mirvacmarch4one.jpg" alt="mirvacmarch4one">
Mirvac launched its on-going loyalty program set for purchasers suggesting it presented a gateway to a "lifestyle of culture, fashion and luxury" through collaborations with premium brands.
<a target="_blank" href="https://www.arraybymirvac.com/black-label">The </a><a target="_blank" href="https://www.arraybymirvac.com/black-label">Black Label by Mirvac</a> partners include furniture and design powerhouse, Coco Republic, which will deliver a range of bespoke interior design services for Array purchasers during March. The March buyer will received a $20,000 choice of fitout.
The other major partners include BMW, Bang &amp; Olufsen, Mont Blanc, Georg Jensen, De’Longhi, Moet Hennessy and Tag Heuer, which will offer Array purchasers access to style, design and VIP experiences extending well past the initial March offering.
<img height="268" width="470" src="/images/stories/2013/03/mirvacmarch4three.jpg" alt="mirvacmarch4three">
The fusion of  fashion and architecture comes in an eight kilogram Swarovski crystal dress design collaboration with the Paris-bound couture fashion designer, Bowie Wong, who is known for his high-end couture aspirational signature garment designs.
"Mirvac has always been an aspirational developer," says Mirvac residential chief, John Carfi.
"It is through collaborating with leaders in culture and design that are synonymous with Mirvac’s reputation for elegance, style and luxury that we’re able to create a value offering that’s completely unique to Array."
<img height="430" width="470" src="/images/stories/2013/03/mirvacmarch4four.jpg" alt="mirvacmarch4four">
The loyalty offering program, officially launched last week, runs throughout March with the current other, with later offers to be available for its participants. To date, <a target="_blank" href="https://www.propertyobserver.com.au/developments/half-of-apartments-in-mirvacs-array-development-in-docklands-sold/2013021459351">50% of apartments at Array have sold</a>, with works on site now underway. Full settlement is expected in 2015. While more than half the sub-penthouses have been sold, its two $8 million penthouses remain on the market.
Buyers get to decide on their fitouts with the apartments labelled various aspirational cities including the Paris, London or New York options.
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