Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

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Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

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

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

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

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A historic double brick home in Victoria’s <a target="_blank" href="/news">Maldon </a>has been listed for sale with a $690,000 asking price.
Charlotte House was built circa 1860 by carpenter John Boots, shortly after the 1850s gold rush. He was something of an evangelical entreprenuer.
Following his death in 1875, Charlotte Boots occupied the property until 1885.
Comprising three bedrooms and one bathroom, Charlotte House has been restored but still boasts original features.
The home has original timber, brick paved and flagstone floors as well as a Stanley wood stove with a water jacket.
The house also includes four open fireplaces and boasts bluestone foundations.
Boots sold the property to Ellen Paul in 1875, who then sold it to John Templeton Couchman, a local mine manager, in 1910. It has since had four more owners.
Located on Templeton Street, it is situated on a double block of 2,024 square metres.
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-maldon-112892395">Charlotte House has been listed by Leah Panos at Waller Realty Maldon</a>.
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Historic Charlotte House, Maldon, listed

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Adam Elliot, the Oscar-winning creator of the animated Harvie Krumpet film, has his <a href="https://www.realestate.com.au/property-house-vic-prahran-112890831" target="_blank">Prahran Edwardian residence</a> listed for auction.
The price hopes are $700,000 plus.
<img src="/images/stories/2013/02/elliott.jpg" alt="elliott" width="470" height="353">
The two-bedroom, one-bathroom refurbished house has been home to Elliot since 2007.
Located on Fern Avenue, which is actually in Windsor, it comes with tall ceilings with antique French chandeliers.
It is scheduled for February 23 auction. 
As he has always wanted to combine his home with a mini production studio, Elliot says he's now looking for new premises north of the city with his partner, Dan Doherty.
The couple bought the property for $600,000 in 2007.
The property has been listed by Fiona Martin from Hocking Stuart Armadale.
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Adam Elliot, the Harvie Krumpet creator, list his Prahran Edwardian home 

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Popular chef and owner of Melbourne’s iconic Vue De Monde restaurant Shannon Bennett has listed his <a href="/news">Kensington </a>property with price hopes of $1.5 million to $1.65 million.
Located on Bruce Street, Kensington, the four-bedroom home is shared with his wife, Madeleine West.
It's a chef’s dream.
Bennett is the ambassador for German brand Miele and has decked out his kitchen in the best appliances on offer.
Also included is a barbecue kitchen with a pizza oven.
The property boasts Jack Merlo-designed gardens, a Japanese pond and a self-cleaning lap pool.
There's a Joost Bakker herb wall plus a vegetable garden on the roof of the double garage.
The property has been listed by Lou Rendina of Rendina Real Estate for a March 2 auction.
Title Tattle recalls the former Sydney Swan Dale Lewis, the former Essendon ruckman Simon Madden and Kangaroo teammates Leigh Colbert and Anthony Stevens were among those who’d inspected the property before it was last auctioned in mid-2004.

But the then contemporary house failed to attract a single bid after more than 300 inquiries. 

It sold to Bennett for $820,000 a few months later.

The Nicholas Murray-designed residence had been listed through Hocking Stuart, which was quoting between $800,000 and $850,000 on its 2004 listing.</body></html>

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Chef extraordinaire Shannon Bennett lists home for $1.5 million plus

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A clifftop house with a unique design of three wedges has been listed for sale in the coastal town of <a target="_blank" href="/news">San Remo</a>, Victoria.
Linda Richardson – a retired company director – has listed her five-bedroom, four-bathroom home with an asking price of $5.5 million. 
Perched above the cliffs on the Anderson Peninsula on an 8.57-hectare block, the 1990 house was designed by <a target="_blank" href="https://www.smrekararchitects.com.au/index.php?option=com_content&amp;view=article&amp;id=4&amp;Itemid=6">architect Ermin Smrekar</a>.
The property boasts 360-degree views of Bass Strait, Cape Woolamai and Kilcunda.
One of the five bedrooms is a loft and is reached via a ship’s ladder.
<img height="216" width="470" src="/images/stories/2013/01/sanremo1.jpg" alt="sanremo1">
Other features of the property include high ceilings, four fireplaces and a potbelly stove in the main lounge room.
The property also boasts a north facing swimming pool and spa.
Located on Punchbowl Road, the home has been listed by Matt Davis from <a target="_blank" href="https://www.kayburton.com.au/property/135-punchbowl-road-san-remo">Kay &amp; Burton</a> in conjunction with South Coast First National Real Estate agent Russell Wilson.
Among architect Ermin Smrekar's other works since migrating from Trieste, Italy, was an elegant early 1980s house on North Road, <a target="_blank" href="/news">Brighton</a>.
Linda Richardson was a director of Carrol and Richardson, the textile and flag manufacturers.
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Ermin Smrekar-designed San Remo clifftop listing

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The weekend release of Real Estate Institute of Victoria (REIV) median house and unit prices for the December 2012 quarter were greeted with a mixture of surprise and some celebration, perhaps indicating greater resilience in the Melbourne property market than first thought.
The REIV reported a 7.8% gain in the Melbourne median house price over the final three months of the year to $555,000, with units up 4.2% to a median value of $456,000.
But while REIV chief executive Enzo Raimondo says the results showed strengthening demand from a “combination of improved Victorian consumer confidence, four interest rate cuts and the seasonal increase in activity in the December quarter”, other quarterly data cast genuine doubt over the turnaround.
December quarter figures released by RP Data-Rismark based on its daily updated index suggest the Melbourne property market continues to undergo a correction, with house prices falling by 1.5% over the quarter and units down 2.7%.
The data provider Australian Property Monitors (APM) released its figures today, showing a more modest 2.4% gain in Melbourne house prices and a 1% gain unit prices of the December quarter, with both markets essentially treading water over the past 12 months.
Factoring in the figures from APM and RP Data provides a more sobering view of house and unit price changes over the December quarter.
Melbourne houses
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="491" colspan="4">
House price changes
</td>
</tr>
<tr>
<td valign="top" width="133">
 
</td>
<td valign="top" width="114">
Quarter
</td>
<td valign="top" width="134">
2012
</td>
<td valign="top" width="110">
Median
</td>
</tr>
<tr>
<td valign="top" width="133">
RP Data
</td>
<td valign="top" width="114">
-1.5%
</td>
<td valign="top" width="134">
-2.9%
</td>
<td valign="top" width="110">
$550,000
</td>
</tr>
<tr>
<td valign="top" width="133">
APM
</td>
<td valign="top" width="114">
+2.4%
</td>
<td valign="top" width="134">
+0.5%
</td>
<td valign="top" width="110">
$526,000
</td>
</tr>
<tr>
<td valign="top" width="133">
REIV
</td>
<td valign="top" width="114">
+7.8%
</td>
<td valign="top" width="134">
+4.7%*
</td>
<td valign="top" width="110">
$555,000
</td>
</tr>
</tbody></table>
 
Melbourne units
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="491" colspan="4">
Unit price changes
</td>
</tr>
<tr>
<td valign="top" width="133">
 
</td>
<td valign="top" width="114">
Quarter
</td>
<td valign="top" width="134">
2012
</td>
<td valign="top" width="110">
Median
</td>
</tr>
<tr>
<td valign="top" width="133">
RP Data
</td>
<td valign="top" width="114">
-2.7%
</td>
<td valign="top" width="134">
-2.5%
</td>
<td valign="top" width="110">
$435,000
</td>
</tr>
<tr>
<td valign="top" width="133">
APM
</td>
<td valign="top" width="114">
+1%
</td>
<td valign="top" width="134">
+2.2%
</td>
<td valign="top" width="110">
$391,000
</td>
</tr>
<tr>
<td valign="top" width="133">
REIV
</td>
<td valign="top" width="114">
+4.2%
</td>
<td valign="top" width="134">
+1.3%*
</td>
<td valign="top" width="110">
$456,000
</td>
</tr>
</tbody></table>
*The REIV figures compare December quarter 2012 figures with December 2011 quarter figures. APM and RP Data are annual changes over 2012.
The differences can be partly explained by the different median calculation methods used and in the case of the REIV, by the quality of the data used to calcuate its December results.
The REIV bases its figures on the median price – that is it ranks all sales from high to low recorded over the quarter and plucks out the middle or 50th percentile observation.
Australian Property Monitors (APM) and RP Data use what some would consider more sophisticated measures of median property price changes.
APM uses a stratified median price method, which controls for changes in the composition of properties sold by separating the total sample of properties into a number of sub-samples. It also issues revised figures based on better available data.
RP Data-Rismark uses a daily hedonic index, which measures home price movements on a “like-for-like” basis according to their key attributes, such as location, land size, number of bedrooms and bathrooms, and is the only provider that does not revise its figures.
The gains reported by the REIV suggest there is a trend of improving property values, but readers should keep in mind a number of issues which may have impacted on the stronger-than-expected results.
Firstly, they follow significant downward revisions to September quarter figures, which increased the gap between REIV figures quoted for the December and September quarters.
The September quarter median for Melbourne houses was revised down from $530,000 to $515,000, while units were revised down from $442,000 to $437,500.
As a result of the revisions the December quarter gains were much greater.
The stronger REIV results in the December quarter were also impacted by a lack of sales in nearly two-thirds of suburbs, which would also have skewed the data.
Property Observer analysis found there were 166 suburbs (63%) that had fewer than 30 sales over the December quarter – meaning their median price changes are less statistically reliable.
Indeed, there were only 95 suburbs that recorded a statistically significant figure of more than 30 sales.
Given that the majority of suburbs in the December quarter figures had fewer than 30 sales and revisions made to the September quarter figures, it is likely that December quarter figures will be revised downwards by the issuance of the next quarterly report.
Readers could of course consider taking an average of the three data providers (as Melbourne property market analyst Monique Sassoon Wakelin suggested investors do in her ABC radio program last year), which thereby confirms that any conclusion of a dramatic December quarter recovery may be premature.
Averaging out the three data providers’ results, house prices rose 0.8% over the quarter while units are up 0.3%, indicating something of upward trend, but no major rebound.
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Melbourne residential property market on the mend? Property Observer navigates the muddling median maze

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Former St Kilda football player turned property developer Max Hudghton and his wife, Anya, have listed their fully renovated <a target="_blank" href="https://www.kayburton.com.au/property/33-gordon-street-hampton">Hampton home</a> with $4 million-plus hopes.
Located on Gordan Street, the four-bedroom, two-bathroom home sits on 1,902 square metres of land.
The house boasts travertine flooring, and the kitchen has marble bench tops and miele appliances.
A floodlit mod grass tennis court is on the block.
The property has been listed by Ian Jackson from Kay and Burton Brighton.
Hudghton's construction company built the Brighton townhouse that soccer champion Harry Kewell leased as his Melbourne base.
The Nicholas Day-designed property was built by Maxton Constructions for a development syndicate headed by the former St Kilda champion Fraser Gehrig.
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Former St Kilda player Max Hudghton lists home for $4 million plus

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 The Melbourne property market had everything thrown at it at 2012 with low clearance rates, international reports that stated it is overvalued and a barrage of negative reports in the media suggesting the market was going to experience a US-style crash.
But the latest figures from the REIV show not only did the property market hold its ground, but it actually began to pick itself up from the canvas and showed significant growth in the last quarter of the year.
<img alt="armstrongjan30" height="91" width="470" src="/images/stories/2013/01/armstrongjan30.png">
While the 2012 year started on shaking ground as property values continued to slide, the December quarter showed a massive 7.8% jump in median value for houses.
This growth is in line with what I was seeing in the market as reported in my September Property Observer article<a target="_blank" href="https://www.propertyobserver.com.au/residential/a-new-breed-of-upgrading-home-investors-injects-buoyancy-into-the-subdued-suburban-property-market-mark-armstrong/2012091856658"> A new breed of upgrading ‘home investors’ injects buoyancy into the subdued suburban property market.</a>
The research showed strong demand coming from home buyers who were looking to upgrade the family home and take advantage of a soft property market.
This jump in last quarter median values turned the corner for the housing market and resulted in a 4.7% growth for the year. Melbourne apartments also performed well. with 4.2% growth in the last quarter pushing it into positive territory by years end.
The wash-up is the market has proved to be very resilient and as we look forward into the 2013 there are some clear signs the property market will continue this trend and some sectors may even return to the heady heights of in explosive growth seen in 2009. The catalyst will be a growth in confidence driven by interest rates once again.
While history is no guarantee of what will happen in the future it does provide some useful insights. In September 2008 the cash rate was at 7%, seven months later it had plummeted to 3% and property investors exploded back onto the scene forcing the property market in Melbourne to surge by more than 20% in 2009.
This time around the RBA has been a bit more tentative with the trigger. It has been careful not to cause a frenzy and has slowly lowered rates to entice investment back.
The last upward interest rate movement was way back in November 2010, and the RBA has met to discuss the economies outlook 23 times since. On 17 of those occasions it has decided to leave the rates on hold. In the remaining meetings the board have voted to lower rates.  Rates have now fallen by 1.75% at sit at the 2009 level of 3%.
<img alt="armstrongjan301" height="199" width="470" src="/images/stories/2013/01/armstrongjan301.png">
This slow decline in rates has meant property investors have sat on the sidelines and watched. This will not last forever.
I don’t think the return of property investors will be as bullish as we experienced in 2009, and this is a good thing. Any market that experiences euphoric highs is destined to fall on the other side. I predict the market will learn from its recent experience and move into a more sustainable growth pattern.
Interest rates are not the only factor weighing on investors' minds. Their confidence is being enhanced by the fact many Australians have money burning a hole in their pockets. According to the RBA household savings rates are at the highest levels since the mid ’80s. They have been trending up since the mid-2000s and now hover around 10% of disposable income.
In addition, many borrowers have been making substantial excess principal repayments in recent years, and this will increase their equity and cashflow positions.
 
Mark Armstrong is a director of <a target="_blank" href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
 
 
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Melbourne property market very resilient and may return to heady heights of 2009 in some sectors: Mark Armstrong

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The Industry Superannuation Property Trust's plans to build an $800 million, 2,994-apartment block on the former Age site in the city’s CBD have been approved.
It is Melbourne’s largest-ever residential development, with six Bates Smart-designed towers between 39 and 63 storeys.
The site comprises 11,755 square metres on the corner of Spencer and Lonsdale streets.
The Victorian  Planning Minister Matthew Guy gave his approval last week after the plans were first submitted in December 2011. The project will be staggered over eight to 12 years.
<img height="783" width="470" src="/images/stories/2013/01/ISPT.jpg" alt="ISPT">
The eastern portion of the 250 Spencer Street mixed use site was sold in April 2010 to Central Equity.
"Optimum site utilisation is being worked up as well as the potential exit strategies available," ISPT's most recent annual report noted.
The site has been income producing with the office building leased to the Australian Bureau of Statistics, and the carpark leased to an independent operator.
It was in 2007 when ISPT and Axiom Properties Limited formed a joint venture to buy The Age newspaper’s Melbourne headquarters for $66.1 million. The site at the time comprised nearly a whole city block of 15,200 square metres.
At the time the executive director of Axiom, Ben Laurance, said the purchase and scheme for redevelopment were part of the long-term vision Axiom’s major shareholder, Pivot Group.
<img alt="age" height="235" width="470" src="/images/stories/2013/01/age.jpg"> “We think this is an opportunity to accommodate major office tenants and apartment dwellers with environmentally sustainable space in a village atmosphere with all of the transport access and retail conveniences everybody wants,” Laurance said in 2007.
Axiom Properties cashed in its stake in 250 Spencer Street in 2010 when its 50% was bought by ISPT.
<img alt="age2" height="251" width="470" src="/images/stories/2013/01/age2.jpg">
ISPT described it as an opportunistic purchase of their joint venture partner’s interest in the site at "a discount to book value driven by their desire to exit in a timely fashion".
The Age – sometimes referred to as the Spencer Street Soviets – relocated to their new premises in December 2009 and formally vacated the 250 Spencer Street property in February 2010.
<a target="_blank" href="https://www.crikey.com.au/2010/02/09/lamenting-the-old-age-pies-not-ruccola-panini/?wpmp_switcher=mobile">Crikey columnist Michael Vaughan </a>wrote that the moniker Spencer Street Soviet came because of its left-leaning coverage as much as for the communistic-style brutalist architecture that was the old Age building. 
When the building is demolished, the industry super fund developer must complete an environmental audit of the site given fears of soil contamination from chemicals used in the newspaper's printing presses during its four decades of operation from 1969.
Sean Hogan from ISPT told The Age that few would miss the old Age building.
"The building doesn't have any fans ... this is probably the last industrial part of the Hoddle Grid," Hogan said.
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jchancellor-FAypfDUnLy

Six high-rise towers to replace former Age building on Spencer Street

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An iconic Robin Boyd creation, the McClune courtyard home at Frankston South has been listed for sale.
The sympathetically restored home is being marketed as an exceptional example of Boyd's ability to blend clean structural lines, huge expanses of glass windows and zoned living to integrate perfectly with nature.
It's set on a gently sloping 4,028-square-metre <a target="_blank" href="/news">Frankston South</a> block in a natural bush setting.
The marketing agent Janice Dunn at Eview Real Estate Partners Frankston is describing <a target="_blank" href="https://www.realestate.com.au/property-house-vic-frankston+south-112796523">it as a number of connecting rooms sheltered beneath a suspended roof with a central open square landscaped courtyard</a>.
More than $1 million is being tipped for the Marcus Road family home.
Built in the late 1960s on land then abutting Sweetwater Creek for teacher Ian McClune, the property is one of 11 Robin Boyd-designed homes built on the Mornington Peninsula.
It was briefly owned by Melbourne lawyer –and Boyd fan – Peter Mitrakas, who sold it to the Stowe family in 2009.
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Robin Boyd-designed Frankston South home listed

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It's a cute historic timber cutter's cottage, circa 1900, in South Gippsland with what looks like a new veneer. 
The <a target="_blank" href="/news">Mirboo North</a> cottage, which comes with a $285,000 asking price, has investment potential. Its initial price hope was $310,000 last September.
It dates back to the timber-getters who sawed the mountain ash from South Gippsland's once vast forests.
Now the simple abode has been reinterpreted as a nature retreat attracting nightly tourism rentals in the heart of the Strzelecki Ranges.
It's been freshly repainted in a clotted cream palette. 
The<a target="_blank" href="https://www.realestate.com.au/property-house-vic-mirboo+north-111549631"> listing agent Allen Bartlett at </a><a target="_blank" href="https://www.realestate.com.au/property-house-vic-mirboo+north-111549631">First National Real Estate Prom Country Mirboo North</a> says the original now air-conditioned timber cutter's cottage has a welcoming, nurturing ambiance and a sense of history perfect as a relaxing retreat.
"The perfect getaway for you or paying guests, this quaint home has been lovingly restored to retain many original features including polished timber floors, painted timber ceilings and an open fireplace."
The two-bedroom cottage is set on a 4,000-square-metre battleaxe parcel of rolling lawns, mature trees and cottage gardens that are appealing throughout all the seasons.
Included in the sale of this property is the business registration, Ferndale Holiday Cottage.
Bartlett's ads suggest $190 to $230 a night has previously achievable, although one leasing site suggests $150 plus a night was the base for any rental income calculation.
The property's style most definitely lends itself to holiday accommodation and is presently fitted with new, exquisite furnishings that are also able to be purchased, subject to negotiation.
The timber kitchen features a stainless steel range and dishwasher.
The property is within walking distance of Mirboo Norths town centre, which includes shops and eateries that trade seven days, Baromi Park, the entry point to the Grand Ridge Rail Trail and a boutique brewery.
Mirboo North is growing as a destination for nature-based tourism and is centrally located in South Gippsland for visitors to experience the Grand Ridge Road Tourist Drive, Wilsons Promontory to the south and Latrobe Valley to the north.
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