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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Women’s fashion identity Amanda Morgan has sold her Walter Burley Griffin-designed home in Toorak for $1.81 million.
The property at <a href="https://www.propertyobserver.com.au/https://www.thehomepage.com.au/property/residential/16a-glyndebourne-avenue-toorak/637511?utm_medium=email&amp;utm_campaign=RealEstateNews+Tuesday+13+November+2012&amp;utm_content=RealEstateNews+Tuesday+13+November+2012+Version+A+CID_604a870d06001272bf917665c8b1700d&amp;utm_source=Email%20marketing%20software&amp;utm_term=The%20home%20will%20be%20auctioned%20at%201pm%20on%20Saturday%2024th%20November%20by%20R%20T%20Edgar%20Boroondara" target="_blank" rel="nofollow">16a Glyndebourne Avenue, Toorak</a>, is known as Salter house after Stanley Salter, who commissioned the property in 1922. It was featured in The Australian Home Beautiful in 1927.
It went to weekend auction<a href="https://www.propertyobserver.com.au/https://www.thehomepage.com.au/property/residential/16a-glyndebourne-avenue-toorak/637511?utm_medium=email&amp;utm_campaign=RealEstateNews+Tuesday+13+November+2012&amp;utm_content=RealEstateNews+Tuesday+13+November+2012+Version+A+CID_604a870d06001272bf917665c8b1700d&amp;utm_source=Email%20marketing%20software&amp;utm_term=The%20home%20will%20be%20auctioned%20at%201pm%20on%20Saturday%2024th%20November%20by%20R%20T%20Edgar%20Boroondara" target="_blank" rel="nofollow"> </a>through R T Edgar Boroondara agent Simon Derham who had a $1.7 million reserve. It last traded at $1,082,500 in 2006. It's now a three-bedroom, three-bathroom house with bluestone terraces with heated waterfall saltwater pool on its 642-square-metre block.
Melbourne recorded a clearance rate of 61% compared to 51% for the same time last year – with the REIV chief executive Enzo Raimondo suggesting the continued good results are "helping to build confidence and should provide the foundations of further improvements in the new year".
In Sydney, the city recorded a clearance rate of 59%, compared to 58% last week and 53% last year.
Salter House was being marketed as showing Walter Burley Griffin’s <a href="https://nla.gov.au/nla.pic-vn3919897" target="_blank" rel="nofollow">architectural simplicity </a>while incorporating many of his subtle innovations to take advantage of the home’s natural surroundings.
The heart of the project was arguably its internal courtyard, which architecture commentators described as a gesture adapted from his Prairie House experiments 20 years prior.
It comes with his “knitlock” brick method of construction, which has made his commissions known around the world.
Knitlock was patented in 1917, with a company headquartered at Griffin's Melbourne office formed to market it.
Walter Burley Griffin first settled in Sydney, forming a brief partnership with J Burcham Clamp, who had sought out a friendship with the Griffins in Chicago in about 1913.
However, the partnership was dissolved in 1915 when it became necessary for Griffin to move to Melbourne, as the Federal Capital Office, of which he was director, was in Melbourne.
Griffin rented an office on the seventh floor of 395 Collins Street.
His initial plans to build his patented knitlock construction met resistance from Malvern Council, which was slow to be convinced as to the suitability of the material for a home in the wealthy suburb of Toorak.
The council's procrastination delayed construction, so the Griffin Society records reveal instead the Griffins sold the land in Kooyong Road to William R. Paling, who in turn commissioned Griffin to design his two-storey house in knitlock.
The Palings' neighbour was a <a href="/news">Toorak </a>property investor who became one of Griffin's best Melbourne clients. Mary Williams commissioned the rental flats Langi at the corner of Toorak and Lansell roads, Toorak.
Griffin's design for Stanley Salter led to designs of knitlock houses for Stanley's brother, Foster Salter in <a href="/news">Brighton</a>, and his brother-in-law, Alfred Ewins in <a href="/news">Ballarat</a>, although neither was built.
Other knitlock houses were built in <a href="/news">Canterbury </a>(1921), <a href="/news">Black Rock</a> (1923), <a href="/news">Surrey Hills </a>(1923), <a href="/news">Heidelberg</a> (1924) and <a href="/news">Woodend </a>(1929).
Knitlock was based on cheap manufacture, lightness and compactness for minimising transport, and on standard units assembled without hand fitting, cutting, bedding or plastering for speedy erection.
Much of the renovation was undertaken by Barbara Hocking, who recollected on its listing once that Griffin's original cottage in the mid-196os was terribly dilapidated.
"In those days it was normal to just tear houses like that down," Hocking recollected.
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Walter Burley Griffin's 1922 Salter House, Toorak, sells

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A Rye beach bathing box without power or water has sold for a record $275,000.
It was snapped up before its scheduled weekend auction. 
They might be a throwback to the 19th century, when the increasing popularity of sea bathing clashed with Victorian-era prudishness, but demand is still there for them.
<img src="/images/stories/2012/11/ryebathing.jpg">
The pre-summer sale betters the previous $170,000 <a target="_blank" href="/news">Rye </a>record, according to JP Dixon Portsea Sorrento agent Jenny Fink, who sold <a href="https://www.jpdixon.com.au/view.php?OID=4510601" target="_blank">122 Tyrone foreshore in Rye</a>.
"There is no power and no water. It is just a box and it is on the beach."
But she said<a href="https://www.realestateview.com.au/Real-Estate/122-pt-nepean-road-rye/Property-Details-sold-residential-4510601" target="_blank"> the beach boxes </a>were bought by now elderly people who paid $4,000 for them and now "they just get handed down."
Victorians last year spent more than $5 million on beach boxes, according to a News Ltd report.
The tiny beach boxes dot Port Phillip Bay from Melbourne to the Mornington Peninsula. 
A Portsea box last year sold set a record $585,000.
A Brighton record was set 18 months ago when a new box sold for $260,000. <a href="https://www.propertyobserver.com.au/victoria/brighton-bathing-box-market-buoyant/2011120652689" target="_blank">Bathing boxes existed in Brighton as far back as 1862</a>.
Those now on the market include one at <a target="_parent" href="/news">Rosebud </a>for $75,000, <a target="_blank" href="/news">Mt Eliza</a> for $65,000 and <a target="_blank" href="/news">Mornington </a>for $180,000-plus.
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Rye beach bathing box sells for $275,000

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The recent buyers of Mintaro, the 1882 Monegeetta mansion, have listed their own Diggers Rest property with a reserve price of $3.25 million.
Brian and Cheryl Glassel have listed the seven-bedroom, four-bathroom Pinewood for December 13 auction.
Located at <a href="https://www.realestate.com.au/property-house-vic-diggers+rest-112328323" target="_blank">829 Black Hill Road</a>, the 1870s house sits on 97 hectares with formal gardens and farmland. The property has nine main paddocks and sheep and cattle yards.
The bluestone, brick and weatherboard construction comprises of classic drawing and dining rooms, conservatory, library, sewing room, four bedrooms and two bathrooms.
There's a second brick veneer residence for guest accommodation.
<a href="https://www.propertyobserver.com.au/victoria/mintaro-the-1882-monegeetta-sunbury-district-mansion-has-been-sold-at-its-%243-million-reserve-price/2012111457817" target="_blank">Last week the Glassels bought Mintaro</a>, the Sunbury district mansion, for its $3 million reserve price shortly after it had been passed in at $2.85 million.
The Glassels plan their own “Country House Rescue” with tours and dining experiences set to make the “property pay for itself”.
The Pinewood, Toolern Vale, auction will be conducted by John Keating from Keatings Real Estate Woodend.
It's only the second time in Pinewood's history since 1848 that it's available for sale.
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Mintaro, Monegeetta, mansion buyers list their Diggers Rest property

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It's scheduled for mooted late 2015 completion and it doesn't actually have planning approval, but the developers of the Australia 108 tower in Melbourne's Southbank precinct are inviting buyer registrations.
It will cost $1,000. And registrants will get a pre-release briefing at a level 89 Eureka Tower event in February.
Prices start at $425,000 for one-bedroom apartments and from $575,000 for two-bedroom apartments. Its three bedrooms are priced from $775,000.
<a href="https://australia108.com.au/" target="_blank">The 108-storey project</a> was unveiled earlier this month as the southern hemisphere's tallest six-star hotel/apartment building – with its mooted mammoth 388-metre skyscraper high above Melbourne's Yarra River.
<img src="/images/stories/2012/11/australia108.jpg">
The site is set on the corner of City Road and Southbank Boulevard, and the Victorian Civil and Administrative Tribunal (VCAT) gave approval for a 72-storey, 226-metre, 532-unit skyscraper in September 2010 after a battle with Melbourne City Council.
The new project, if approved, will feature 600 apartments, plus the nation's highest hotel and restaurants floating 84 stories above the city.
<img src="/images/stories/2012/11/australia1083.jpg">
The 108-storey tower, which will be the 18th-tallest building in the world, is planned to rise near the 297-metre Eureka Tower, with 91 storeys.
Architects Fender Katsalidis, which also built Eureka, gained planning approval for a 228-metre apartment building on the 70 Southbank Boulevard site in 2010, but architect Nonda Katsalidis has super-sized his plans, by adding a 288-room hotel and sky deck on top.
He says the economy has strengthened and Melbourne is more confident and ready for an iconic centrepiece.
<img src="/images/stories/2012/11/australia1081.jpg">
"Buildings like this change cities, they make the city more dynamic, more interesting, more exciting," he said.
One of Australia 108's most striking features will be a two-storey sky lobby, which is set to house two restaurants and two bars, extending nine metres out of the building, 84 storeys above Melbourne. The hotel check-in and swimming pool will also appear to hang over the city, with sections of glass floor enabling visitors to see all the way to the ground in a much larger version of Eureka's Sky Deck. In July Property Observer<a href="/news"> reported the site was owned by Katsalidis and property developer Adrian Valmorbida </a>from the Valmorbida family.
<img src="/images/stories/2012/11/australia1082.jpg">
Although the project is in its preliminary design stage and will be subjected to a fresh planning application process, Victorian Planning Minister Matthew Guy has already commented that such a project being proposed underlined the confidence in Melbourne. "Australia is coming of age, and our cities are growing upwards," Guy said. "Taller buildings ... are a symbol of a growing nation, a strong economy, and they do have the ability to define a city," he said.
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Fender Katsalidis' Australia 108 tower seeks $1,000 early buyer registrants 

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Glenholme, the 1870s grand Victorian Ballarat residence, whose asking price was reduced from $2.5 million to $2.25 million, has been sold, possibly at a historic house record for the district.
It's been with the Cuthbert family since 1901, first occupied by accountant John Cuthbert, the son of Henry Cuthbert, who’d arrived in Australia in 1854 and lived in nearby Beaufort House.
Hidden behind a white paling fence within a meandering garden, the grand six-bedroom Victorian house at 111 Webster Street, <a target="_blank" href="/news">Lake Wendouree</a> is wrapped in wisteria.
There are three reception rooms comprising the salon with white marble fireplace and bay window, the sitting room, which features hand-made copper-plated bookshelves and a black marble fireplace, and the stately dining room with open fireplace and gas heating.
Exotic trees, shrubs and old-fashioned flowers create a romantic National Trust-classified garden – which is possibly one of Victoria's finest intact examples of a late Victorian suburban garden, according to the garden historian Peter Watts, who said in 1980 that it was of national significance.
It was <a target="_blank" href="https://www.propertyobserver.com.au/victoria/national-garden-treasure-glenholme-the-1870s-grand-victorian-ballarat-residence-listed-with-record-%2425-million-asking-price/2012062955347">listed through Tony Douglass and Tim Valpied of Hocking Stuart Ballarat</a>, who have kept the sale price undisclosed since its October 31 sale.
The suburban villa was built for the merchant John Joseph Goller, a convenient distance from his warehouse in Lydiard Street North. The family had Gollers Wholesale Wine &amp; Spirit Merchants, which was established in 1855.
Ballarat’s most expensive historic home sale is currently on Wendouree Parade, which fetched $2.23 million in 2010. Set back from the road and the banks of Lake Wendouree, the 1888 house had been altered moderately in the 1930s. With four-metre-high ceilings, detailed plaster and paint work, arched doorways and stone fireplaces, the 424-square-metre six-bedroom house had been listed with $2.7 million-plus hopes in 2009.
The $2.23 million purchase was bought from the Deam family by Ballarat estate agent and farmer Stewart Gull, who played for South Melbourne and Melbourne in the 1970s, and his wife, Sue.
Property Observer is aware of a $2.4 million sale in March this year of the Invermay mansion Whistlers Run. It was a five-bedroom modern mansion, previously home to local businessman Gavin James.
Whistlers Run was marketed as a semi-rural retreat, with a 10-car garage, saltwater swimming pool, six bathrooms, three living areas and floor-to-ceiling windows with views to Ararat and Mt Langi Ghiran. Its tallowwood floorboards are reclaimed from the seats at the Melbourne Cricket Club Members Stand.


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Property Observer is also aware of a higher sale on Lake Wendouree when $2,825,000 was paid in late 2007 for a house with 53 square metres of living space, an indoor pool and a tennis court on a large block.
Earlier this week another <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/alfred-street-lake-wendouree/Property-Details-sold-residential-4546673">contemporary Lake Wendouree </a> house (pictured below) sold at an undisclosed price. It had $1 million-plus hopes. It was marketed as coming with exclusive access to a neighbouring tennis court for $110 per annum.
<img src="/images/stories/2012/11/alfredst3.jpg">
The district's renowed Peter Coburn-designed 1927 residence, which was built for the mayor of Ballarat Alfred Pittard, is listed at $1.75 million through <a target="_blank" href="https://www.harcourts.com.au/Property/474613/VBT7349/303-Wendouree-Parade">Harcourts agent Gerald Cosgrave</a>. Set with 1700 square metres of established gardens, it has views over Lake Wendouree rowing course.
<img src="/images/stories/2012/11/wendouree.jpg">
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Glenholme, the Lake Wendouree 1870s house in Ballarat, sells

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After more than five years on and off the market, Dalkeith House, the two-storey gabled Tudor-style mansion at Mount Martha, has been sold for about $2 million.
The four-hectare property at <a href="https://www.rtedgar.com.au/?pagecall=property&amp;propertyID=1973683" target="_blank">245 Nepean Highway</a> came with initial $5 million hopes in 2007 and then was relisted with $4 million hopes in 2009 by the Heber family, who fully restored the property since paying $1,725,000 in 2004. It was most recently listed at $2.65 million.
The five-bedroom Dalkeith House residence includes original half-timber wall finishes, stone chimneys and leadlight picture windows.
The grounds includes an orchard, horse paddock, tennis court and swimming pool.
Over the years Dalkeith House has been used as a wedding reception venue, bed-and-breakfast accommodation – even the site of Agatha Christie-type murder-mystery parties.
In 1974, the Dalkeith House estate, which was then around 34 hectares, was bequeathed to three hospitals – the Royal Melbourne, St Vincents and The Alfred.
The hospitals later onsold it as a private home.
It's been listed over time through Bennison Mackinnon, in conjunction with Aqua Real Estate and RT Edgar, which has its listed as sold.
It is believed to have been built around 1938, with parts of the home dating back to at least 1911.
There were reportedly 24 full-time staff at the property, which spread over more than 700 acres on the west side of <a href="/news">Mount Martha</a>.
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Dalkeith, the 1911 Mt Martha Mornington Peninsula Tudor estate, sells after five years

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Melbourne Music Week’s secret pop-up music venue has been revealed as the gothic Argus building on the corner of LaTrobe Street and Elizabeth Street.
The 86-year-old building has been in decrepit state for decades. Its first tenant, The Argus daily newspaper, closed in 1956.
The Herald and Weekly Times Group bought the Argus newspaper along with the building in 1957 and later closed the newspaper down and sold the building.
<img src="/images/stories/2012/11/argus.jpg">
Education entrepreneur and founder of Melbourne Institute of Technology (MIT) Shesh Gale bought the site in 2010. His company, MIT Group Holdings, a holding of Ghale Investments, bought the six-storey building from La Trobe University for a reported $15 million.
In Melbourne the group also own 374-376 Bourke Street, 386-412 William Street, 388-390 Lonsdale Street, 277-279 Flinders Lane (Tomasetti House), 179 Collins Street and 1151-1155 High Street in Armadale. They also own 154-158 Sussex Street in Sydney.
Ghale has the site earmarked as the future flagship campus for MIT, established in 1996.
According to BRW, the Nepalese-born Ghale is worth $269 million and is the 176th richest person in Australia.
The building was constructed in the Beaux Arts style by architecture firm Godfrey &amp; Spowers. It represents a combination of the interwar styles, a stripped classical composition with Beaux-Arts, Chicagoesque and Moderne influences.
<img src="/images/stories/2012/11/argus2.png">
Melbourne lord mayor Robert Doyle has labelled the site one of the worst bomb sites in Melbourne.
In July Doyle said it was a building of ''historic significance, but it is deteriorating as we look at it and I want to give them the strong message that we will not tolerate the tactic of allowing a building to deteriorate to a point where you can't do anything with it – we will be saying to them we are putting you on notice now''.
 
<hr class="system-pagebreak">
 
The six-storey Argus building was built in 1926 and is riddled with asbestos.
La Trobe University bought the site for $8 million in 2004 to use as a campus but sold it after asbestos removal and renovation costs proved too high. The university reportedly spent more than $34 million developing the site.
In 2010, Ghale had indicated he would spend about $50 million on the renovation, which would be completed by the end of 2011. Any evidence of this has yet to be seen.
"We have been working on a number of design options over the last two years which are ready to go ahead and currently considering the option of staged development, which we hope to  finalise in the very near future," a spokesperson for the company told Property Observer.
Prior to La Trobe University's ownership, the building was owned by the Stamoulis family’s Ryssal-Three Pty Ltd, who tried for many years to sell and sell the property.
La Trobe University took legal action against the vendor claiming it was misled over the state of the building. The action was settled out of court.
A large portion of the roof and several floor sections in the 1920s building are missing. Badly cracked concrete exposes rusty iron beams and severe water damage throughout. Much of it will remain off limits, with just the two lower floors to be used.
<a href="https://blog.melbmusic.com/" target="_blank">Melbourne Music Week</a> has taken on a short-term lease for the building to use a festival site. The tenancy was meant to be kept a secret until November 16, the opening day, but details were leaked to The Age.
The tenancy was orchestrated by event entrepreneurs Kevin Karlberg and Starr Guzman of Marksthespot in conjunction with the City of Melbourne.
''Our main theme is reclamation,'' Guzman told The Age.
''We become a living organism in something that has decayed and we bring out the beauty in it.''
The festival will be restricted to the bottom two floors, with most of the building off-limits due to missing roof and floor sections, exposed rust and water damage.
Festival organisers say asbestos has been removed and stress tests allow 400 people upstairs and 800 downstairs once stairs are built.
The festival starts on November 16 with French dance duo Housse de Racket.
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Argus building to host Melbourne Music Week before long-awaited MIT campus transformation

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Mintaro, the 1882 Monegeetta, Sunbury district mansion, has been sold at its $3 million reserve price.
It had been passed in shortly before at $2.85 million at its November 15 onsite auction. It's been bought by Brian and Cheryl Glassel of Toolern Vale who intend to restore the house as a residence.
The new owners plan their own "Country House Rescue'' with tours and dining experience set to make the "property pay for itself". Country House Rescue is an observational documentary series on the British television channel, Channel 4, where an expert visits a struggling country house to turn its fortunes around with advice on making more usage of the estates.
More than 500 attended the onsite auction, with three bidders.
The 9.9-hectare estate was an executor's sale, concluding 78 years of family ownership by the Rae family.
{yoogallery src=[images/stories/2012/10/oct15mintaroout]}
"A once undeniably grand and gracious country residence is now in need of total restoration with outstanding future use potential," its selling agent John Keating of Keatings Real Estate says.
{yoogallery src=[images/stories/2012/10/oct15mintaroin]}
It's a smaller replica of Melbourne's Government House, which was built by a Captain Robert Gardiner to a design by architect James Gall. The auction crowd included Gardiner family descendants.
<img src="/images/stories/2012/09/mintaro3.jpg">
The property is 56 kilometres from the Melbourne GPO at Monegeetta on the Melbourne Lancefield Road.
<a target="_blank" href="https://www.keatings.com.au/view-property/?OID=4545899">John Keating </a>advised potential buyers of its $3 million reserve price in the advertising material for the Victorian Period Italiante-style mansion.
"Buyers love the transparency of declared reserve auctions and if the reserve is set at a realistic amount, the publication of the reserve price acts like a buyer-enquiry magnet," he said.
<img src="/images/stories/2012/09/mintaro2.jpg">
It was listed by the executors of the estate of musician Derek Rea.
When the house was entered on the register of the National Estate in 1978, the accompanying notes indicated that it was in a "superb state of intactness and is being meticulously restored".
It's close to land owned by the Department of Defence for its Land Engineering Agency (LEA).
Photos of the house in 2007 on <a href="https://www.walkingmelbourne.com/forum/viewtopic.php?f=13&amp;t=4419&amp;start=20">Walking Melbourne </a>show it surrounded by dozens of derelict cars prior to its yard clearance sale.
<img src="/images/stories/2012/09/mintaro.jpg">
Picture courtesy of <a target="_blank" href="https://www.walkingmelbourne.com/">Walking Melbourne</a>
Robert Gardiner was born in Scotland in 1812. He and his first wife, Susan Foley, had five children. He first came to Tasmania, where he was involved in the whaling industry. He was one of the earliest European settlers in the Berwick area, having taken up a pastoral lease in 1837.
The front room of the property is painted with his initials on the ceiling.
The walls are painted with friezes of whaling, pastoral and gold mining, which is reputedly how he made his money.
Robert Gardiner, who was the great grandfather of ballet dancer Sir Robert Helpmann, died in South Yarra in 1889.
"I wish we had another couple of Mintaro's we could offer to the unsuccessful bidders, but unfortunately they just don't exist," Mr Keating said. 
There were 230 purchaser enquiries and some 85 inspections during the market campaign.
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Country House Rescue envisaged for Mintaro, the sold $3 million 1882 Monegeetta, Sunbury district mansion

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Leighton Properties intends to start building a 55,000-square-metre office building at 567 Collins Street within weeks, according to a company statement.
It has plans to building a 26-level tower at the site between Spencer and King streets after signing an anchor tenant agreement.
Leighton Contractors has been appointed to build tower and is considering signing an anchor tenant lease for building, occupying the podium campus component of the building.
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Law firm Corrs Chambers Westgarth has also agreed to lease 8,800 square metres of the building.
The company has bought the entire site having exited a partnership with APN in 2008.
“This is an exciting new chapter for Leighton with Leighton Properties and Leighton Contractors  working together as a team to achieve an outstanding result in leasing, design and construction,” says managing director Mark Gray.
“567 Collins St will be an iconic contribution to the Melbourne central business district, and an exemplar of Leighton’s expertise in the development of high sustainability, architectural and urban quality and amenity.
“We are confident of the prospects for a new premium building on Collins Street which will redefine the centre of business activity in Melbourne.”
The building includes a two-three level high foyer comprising a lobby, cafe and retail component, two levels of health club, seven levels of podium campus office and 16 levels of upper tower office with a net lettable of 54,770 square metres.
The tower will occupy a 3,942-square-metre site with a 74-metre frontage to Collins Street.
It is designed by architects Cox and Spowers and is hoped to achieve a six-star green star office design v2 rating with the Green Building Council of Australia.
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Leighton Properties to begin construction of 567 Collins Street, Melbourne, within weeks

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The southern hemisphere's tallest hotel/apartment building – with its mooted mammoth 388-metre skyscraper high above Melbourne's Yarra River – is actually a development site that's up for sale. Its a tad premature to suggest the touted 108-storey development will radically alter the city skyline.
The 2,642-square-metre site has been for sale since July through <a target="_blank" href="https://www.realcommercial.com.au/property-land+development-vic-southbank-500322779">CBRE agents Mark Wizel and Josh Rutman</a>.
<img src="/images/stories/2012/11/australia108.jpg">
The site is set on the corner of City Road and Southbank Boulevard, and the Victorian Civil and Administrative Tribunal (VCAT) gave approval for a 72-storey, 226-metre, 532-unit skyscraper in September 2010 after a battle with Melbourne City Council.
Designs for the huge Australia 108 are being reportedly finalised and, if approved, will feature 600 apartments, the nation's highest hotel and restaurants seemingly floating 84 stories above the city.
The 108-storey tower, which will be the 18th-tallest building in the world, is planned to rise near the 297-metre Eureka Tower, with 91 storeys.
Architects Fender Katsalidis, who also built Eureka, gained planning approval for a 228 metre apartment building on the 70 Southbank Boulevard site in 2010, despite objections from Melbourne City Council that it was "excessive in both height and bulk".
But architect Nonda Katsalidis has super-sized his plans, by adding a 288-room hotel and sky deck on top, saying the economy has strengthened and Melbourne is more confident and ready for an iconic centrepiece.
<img src="/images/stories/2012/11/australia1081.jpg">
"Buildings like this change cities, they make the city more dynamic, more interesting, more exciting," he told the News Ltd papers today.
The <a target="_blank" href="https://www.skyscrapercity.com/showthread.php?p=97223192">skyscrapercity.com website </a>shows both visions for the development site.
One of Australia 108's most striking features will be a two-storey sky lobby, which is set to house two restaurants and two bars, extending nine metres out of the building, 84-storeys above Melbourne. The hotel check-in and swimming pool will also appear to hang over the city, with sections of glass floor enabling visitors to see all the way to the ground in a much larger version of Eureka's Sky Deck. Although the skyscraper is intended to dominate Melbourne's skyline, Katsalidis says it would form a pair with Eureka. The site was listed with a $25 million price tag via an international public expressions of interest campaign closing in August.
In July Property Observer<a target="_blank" href="/news"> reported the site was listed by Katsalidis and property developer Adrian Valmorbida </a>from the Valmorbida family, who had decided to go in different directions.
The site is the former head office of international explosives and fertilising giant Incitec Pivot and is currently in use as office accommodation.
Although in its preliminary design stage, and will be subjected to a fresh planning application process, Victorian Planning Minister Matthew Guy has already commented that such a project being proposed underlined the confidence in Melbourne. "Australia is coming of age and our cities are growing upwards," Guy says. "Taller buildings ... are a symbol of a growing nation, a strong economy, and they do have the ability to define a city," he told News Ltd.
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