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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House and unit prices have been on the rise for the past six months while property prices fell in regional Victoria, according to graphs released by the Real Estate Institute of Victoria. 
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The charts, part of a REIV presentation at the Melbourne Home Buyer and Property Investor Show, also show that over the past 10 years the median Melbourne house and unit prices have risen in fits and starts, while regional Victoria has shown more steady, even growth. 
For example, house and unit prices in Melbourne show a sharp spike in 2007, whereas growth is more measured across regional Victoria. 
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Regional Victorian property prices have shown long-term mild growth: REIV

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With a disclosed $750,000 reserve price and 14 contract requests, the weekend auction of a striking modern home at Gisborne triggered an $807,500 sale.
The <a href="https://www.realestateview.com.au/Real-Estate/115-outlook-lane-gisborne/Property-Details-buy-residential-4406745" target="_blank">115 Outlook Lane</a> house, with views of Mount Macdeon, sold through Julian Davies at Keatings Real Estate.
Set above Jacksons Creek, the 1.7-hectare vacant building holding was bought in late 2007 for $340,000 by Kate and Ollie Luciano.
There are views from every room through floor-to-ceiling glass along the entire length of the semicircular design of the valley where deer roam.
After their initial inspection of the site the Lucianos took a sketch made on butcher's paper to the architect Design Edge, who came up with a structure designed as a series of 12 wedge-shaped segments, each supported by a framework of high-strength steel columns and beams and spanned by extra-thick laminated glass panels.
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Striking Gisborne semicircular home finds  $807,500 buyer looking for views

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The Melbourne property market is set for a tentative recovery in the short term, but there are currently buying opportunities for investors, particularly in the west, north and some outer eastern suburbs, according to Clinton McNabb, senior research analyst for Australian Property Monitors (APM).
Delivering a presentation at this weekend’s Melbourne Home Buyer &amp; Property Investor Show, McNabb said investors needed to look for areas displaying the greatest population growth and where incomes are rising.
“There will be a tentative recovery for Melbourne, growth will be subdued for a while,” said McNabb.
But longer term, demand for housing will rise as the city’s population grows to beyond 6 million people over the next 20 years and overtakes Sydney, McNabb said.
“The biggest driver of house prices will be population growth,” said McNabb.
Investors should also look for suburbs, where incomes are growing.
McNabb presented a series of heat maps, with shades of blue, orange and red.
The heat map below shows which suburbs have displayed the greatest house price growth over the past two years.
Suburbs in shades of blue show where property prices have declined by 3% or more over the past two years, green suburbs have exhibited limited growth (up to 3%) orange indicates property prices rising around 10% and red zones show growth in excess of 15%.
<img src="/images/stories/2012/10/heatmelb.jpg">
The map shows much of the growth has been in suburbs around the city, but also good growth in some outlying areas such Narre Warren North and Beaconsfield Upper in the outer east.
In the west, McNabb says suburbs like Altona and Yarraville, where the median house price is around $500,000 – much cheaper than neighbouring suburbs – offer good potential.
Similarly, he picks unfashionable Footscray, West Footscray and Sunshine due to their affordability, closeness to the CBD and good transport connections.
In the north, McNabb says investors should look at well-located suburbs like Brunswick, Coburg and Preston.
They are affordable and also located close to the city with good transport connections.
Currently suburbs that have the highest average discount (the original listing price compared with the sale price) include Canterbury (15% discount), Toorak (12%), Footscray (11%), Brooklyn and St Kilda West.
Taking a wider view of the market, McNabb says the latest census data shows rising numbers of single person and childless couple housing occupants.
This he says indicates an increasing  demand for higher-density living.
“In addition, more families are now willing to live in apartments and they will sacrifice space for location.
“Being close to transportation to the CBD is key. There has been a 47% jump in people using public transport since 2005,” he says.
“Compare suburbs and look at comparable sales – that’s the best way to avoid things like underquoting,” he says.
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Hot property investment opportunities in west, north and outer-east Melbourne suburbs: APM

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An 1870s St Kilda mansion that was the birthplace of former Prime Minister Stanley Melbourne Bruce has been listed for sale by the Presentation Sisters.
The 1,761-square-metre property has been the home to the Sisters of the Society of Australian Congregations of the Presentation of the Blessed Virgin Mary, better known as the Presentation Sisters, since 1919.
The property named Stradbroke was built by Thomas Moore Esq in 1873.
In 1919 the Presentation Sisters purchased the property from the Sisters of Mercy.
The mansion includes arcaded verandas over its two levels and an 18-room interior, including a chapel and a wine cellar.
Bruce, the prime minster of Australia from 1923 to 1929, was born in the property on April 15, 1883, in the house.
From windows overlooking Port Phillip Bay, its occupants would have been able to see ships laden with goods from the mother country sailing from the Great Southern Ocean, writer David Lee said in his book Stanley Melbourne Bruce: Australian Internationalist.
Bruce’s family is better associated with Wombalano, a large colonial-style Toorak mansion.
<img src="/images/stories/2012/09/bruceplaque.jpg">
A plaque unveiled by politician Barry Jones stands outside the Grey Street, St Kilda mansion celebrating his birth.
Bruce was the second youngest prime minister to serve in Australia, taking office at age 39.
The property comes with 788 square metres of vacant land, which is being marketed as prime for development.
Agent Iain Carmichael from BennisonMackinnon is expecting $3 million to $3.5 million for the mansion and around $1.5 million for the land.
The property is being sold by <a target="_blank" href="https://www.benmac.com.au/index.cfm?pageCall=property&amp;propertyID=2177197&amp;showBackToResults=true&amp;realestate=71_&amp;_71a_Grey_Street_ST_KILDA_VIC_3182">BennisonMackinnon agents</a> Iain Carmichael and Andrew Macmillan as well as <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/71-and-71a-grey-street-st-kilda/Property-Details-buy-commercial-4515469">Greg Hocking agent</a> John Holdsworth.
The property is being offered by expressions of interest both as a whole and separately.
Any buyers will have to agree to keep a magnificent English oak tree, which is protected by Vegetation Protection Overlay recently applied by the Port Phillip Council.
Council documents show the protected tree was planted in 1919 by the sisters as a symbol of the congregation.
The 13-metre tree can be seen from the reserve and is thought to offer aesthetic and amenity value to the local area.
The English oak is also thought to hold horticultural value with the species in cultivation in Victoria between 1855 and 1889.The Grey Street
A <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/ndp/del/article/3917348">Grey Street purchase, St Fintans </a>, a primary school run by the nuns was reported in 1928. 
The full original Presentation Sisters' property included what the area now known as Newton Reserve adjoining the southwest of property. The nuns will retain other property on Grey Street.
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Birthplace of former prime minister Stanley Melbourne Bruce listed by St Kilda nuns

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Rino Grollo sold most of his 24 redundant Mount Buller holdings at auction today.
More than $4 million of property sold under the hammer and in the minutes after the mass auction.
Some 17 sold at auction, two sold prior and five properties were passed in but three of sold immediately after.
Castran agent John Castran conducted the auction and says he and Rino were happy with the auction, which had 43 registered bidders.
<img src="/images/stories/2012/09/snowauction1.jpg">
"Rino's happy. There's plenty of new people to ride his ski lifts now," Castran says.
Castran says most of the buyers were leisure seekers rather than investors. He says most of the buyers were buying without borrowing any money.
The stand-out performer was the Stables Chalet, which sold for $980,000 after being marketed with $900,000-plus hopes.
The four-bedroom chalet was designed by architects Bruce Henderson and Provan Burdett. The property won awards at the state and national Master Builder Australia awards.
It is built from local stone and timber, and the new owner will be able to ski in and ski out from the Chamois ski run.
The property includes three bathrooms, open-plan kitchen, dining and living areas, a garage, stone benchtops, stainless steel appliances, laundry/drying rooms, a heated driveway and fireplace.
There were three bidders after the property was announced on the market at $900,000, including one late bidder on the phone.
After bids hit $900,000 they came in $5,000 increments then jumping $10,000 per bid to $970,000 when two bids to $980,000.
 
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Bidder interest wasn’t matched with the Skyline Penthouse in the Chalet Hotel. It had been expected to sell for $900,000 but it passed in on a vendor bid of $800,000.
<img src="/images/stories/2012/09/snowauction2.jpg">
It did sell after auction though with Castran securing just shy of $1 million.
The recently renovated three-bedroom suite includes access to all the luxuries expected with a hotel.
Before auction, Castran relayed a message from Grollo saying, “Today is the day to buy because today is the day I’m selling”.
True to his word he was willing to come down in price on some properties, including the Kirstie Marshall Homestead, which sold for $137,000 despite his insistence $140,000 was the lowest he could accept.
Interest in the freehold small building block land offerings out of the ski slopes at Sawmill Settlement wasn’t as strong, with Castran working hard for every bid.
He said the <a target="_blank" href="/news">Mt Buller</a> lots were selling for almost the same amount that they cost to develop.
He even got to down to $1 bid to get it over the reserve price of $45,000 in two instances for blocks at the Sawmill Settlement location at the foot of the mountain.
Prices for the 12 St Anton apartments ranged from $120,000 to $205,000, having been marketed as likely to secure between $130,000 and $225,000.
Interest in the auction had been strong, with Castran inundated with 600 pre-auction inquiries. There were more than 100 at the auction.
Castran said the results showed the market was price-sensitive with the discretionary acquistions trading at about 20% below last year’s prices.
But he said he hadn’t seen $900-plus prices in?Mt Buller for two years.
Auction attendees at the city auction premises weople were ushered into the 19th-level board room by ski instructors in full garb. It's especially impressive given the weather topped 31 degrees in Melbourne.
Buyers were required to pay a 10% deposit up front with a 60-day settlement period. There was no GST payable, and furniture was included.
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Cashed-up skiers snare 22 of Grollo family Mt Buller snow auction offerings

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Monash University professor, the shoulder and elbow orthopaedic surgeon Simon Bell and his wife Jennifer are selling Greystones, their Brighton home, with a price guide of $7.3 million plus.
Located on Park Street amid established English gardens, the 1914 house sits on 2,219 square metres.
The house comes with six bedrooms and five bathrooms.
It's been home to the Bells for the past 20 years.
The house comes with a large cellar, sauna, studio with a gymnasium and a rooftop retreat that offers views across the bay to the city skyline.
Its vast north-facing living and dining area includes two living areas opening out to the terrace and a dining area set beneath a vaulted ceiling.
“It’s a period home with a history," Simon Bell says.
"We loved the fact that it’s an old house with high ceilings. It has a magic hideaway garden, tennis, cricket and basketball court as well as a spa and heated swimming pool.”
After living there for 20 years, the Bells are selling in the hope of downsizing.
“The house is just so big! We have the biggest main bedroom in Brighton, stretching the length of the house with views over the tennis court,” says Bell.
Greystones has been listed through Ian Jackson from Kay &amp; Burton Brighton with expressions of interest closing October 30.
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Greystones, the 1914 Brighton house, listed

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With a disclosed $750,000 reserve price and 14 contract requests, the weekend auction of a striking modern home at Gisborne seems set to ignite.
The <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/115-outlook-lane-gisborne/Property-Details-buy-residential-4406745">115 Outlook Lane</a> house, with views of Mount Macdeon, is scheduled for October 6 through Julian Davies at Keatings Real Estate.
Set above Jacksons Creek, the 1.7-hectare holding was bought in late 2007 for $340,000 by Kate and Ollie Luciano.
There are views from every room, with floor-to-ceiling glass along the entire length of the semicircular design.
The Lucianos took a sketch made on butcher's paper to the architect Design Edge, who came up with a structure designed as a series of 12 wedge-shaped segments, each supported by a framework of high-strength steel columns and beams and spanned by extra-thick laminated glass panels.
Each glass panel is a sliding door.
Its floor is polished concrete with underfloor heating.
"We wanted a home that looked as if it had landed like a pod on the earth, but which, because it is so transparent, also has a sense of being at one with the land," Kate Luciano told The Age.
They have fenced the property and planted Manchurian pears around the perimeter.
"Signature design on a sensational canvas," is how listing agent Julian Davies describes the property.
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Gisborne's transparent contemporary semicircular pod home listing

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Gorphwysfa, the 1905 St Kilda West Edwardian terrace, has been listed for the first time in three decades.
Set at the beach end of tree-lined Mary Street, the three-bedroom, four-bathroom terrace has been renovated to a lavish style.
There's coffered ceilings, marble master bathroom, internal atrium garden and lighted glass entertainment wet bar.
There's a fourth bedroom studio apartment and rooftop garden above the separate double garage.
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-st+kilda+west-111634227">Karl Gillon and Ranko Cvjeticanin at Buxton Albert Park</a> are letting buyers know that currently they have buyer interest above $2 million well before the October 27 auction.
It last traded at $124,000 in 1982. 
Mary Street’s shaded pavements and richly detailed 19th and early 20th-century properties prompted its selection by The Age earlier this year as St Kilda West's best street. Loch and York streets rated second and third place.
It's suggested being quiet, cool and elegant, Mary Street captured the feel of old St Kilda when wealthy Melburnians built mansions along the bay and the suburb was a playground for the rich.
Fountain Terrace, one of the street’s most significant properties, is a boutique hotel at 28 Mary Street.
Sales have included a two-storey, four-bedroom terrace for $1.61 million in March last year; and a three-bedroom, two-storey residence, which sold for $2.22 million in February 2011.
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Gorphwysfa, the lavishly styled Edwardian St Kilda West terrace, listed

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Mintaro, the 1882 Monegeetta, Sunbury district mansion, has been listed for November auction. 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 9.9-hectare estate is an executor's sale, which will conclude 78 years of family ownership by the Rae family.
"A once undeniably grand and gracious country residence is now in need of total restoration with outstanding future use potential," its listing agent John Keating of Keatings Real Estate said.
<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> has 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 suggests.
<img src="/images/stories/2012/09/mintaro2.jpg">
It has been listed by the executors of the estate of 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.
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Sunbury's Mintaro – a mini Government House – listed with $3 million hopes

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A ground-floor retail shop has sold in a new Melbourne residential tower 33M for $650,000.
The MacKenzie Street tower, being developed by CEL Australia with a scheduled 2013 finish, is located between Exhibition and Russell streets.
It comprises of 372 apartments and two ground floor retail shops.
Shop 2 has been sold by agent Daniel Wolman from Colliers International to a local owner-occupier, who will operate a high-end quality café and convenience store in the 90-square-metre space.
The building 33M is marketed as a development offering residential lifestyle features similar to those expected in a<a target="_blank" href="https://www.33m.com.au/#gallery"> luxury resort</a>, without the associated expense.
Designed by Elenberg Fraser Architects, with further design work by Oculus, the tower consists of five rooftop common areas, a sky gymnasium on level 31 along with lap and relaxation pools on level four.
One-bedroom and two-bedroom apartments in the 33M tower have sold out with the bulk of its prices between $329,000 to $660,000 when marketed in early 2011.
Colliers has confirmed that shop 1 is still available for sale.
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