Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Joel Robinson

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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US private equity giant Blackstone has reportedly pulled out of its takeover bid for listed property trust Australand following GPT Group’s formal withdrawal yesterday.
Blackstone had put in a bid for the entire Australand business at around a 10% discount to the trust’s $3.46 a security net asset backing, The Australian Financial Review’s StreetTalk gossip column reported.
However, it withdrew its bid via email a few hours after the GPT statement was issued yesterday.
<a target="_blank" href="/news">GPT’s $2.8 billion December offer</a> (StreetTalk quotes a $2.95 billion offer) was for only the non-residential businesses of Australand.
Analysts John Kim from CLSA and Jason Weate from Deutsche Bank continue to back Australand despite the withdrawal of GPT and Blackstone after its share price fell 18 cents to $3.35 (a 5.3% fall) in morning trading today.
The option still remains for a block trade of Singapore-based majority shareholder CapitaLand’s $1.2 billion stake, but according to StreetTalk, this would represent a worse outcome for shareholders than the Blackstone offer and would be difficult to accomplish.
In a statement released yesterday, Australand confirmed that it had been unable to reach agreement with GPT on the sale of its investment portfolio and commercial and industrial businesses that would be a “superior outcome than business as usual”.
It also said it was not in receipt of any formal proposals, but that process had not yet concluded.
Clearly Australand was eager to sell to GPT, but the two parties could not agree on a fair price.
StreetTalk reported that a high-ranking CapitaLand executive flew into Sydney on Monday to try and help thrash out a deal with GPT, but could not get the property group to budge on its offer.
</body></html>

lschlesinger-FZcF9M3vE6

Australand running out of options as Blackstone joins GPT at the exit gates

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Tasmania has joined NSW, Queensland and South Australia by announcing plans to axe the $7,000 first-home owner grant (FHOG) for established homes on June 30, 2014.
It will coincide with the end of Tasmania's First Home Builder Boost (FHBB) - a payment of $8,000 - on June 30.
From July 1, Tasmanian first-home buyers who build or buy a new home (including off-the-plan) will be entitled to a $7,000 FHOG. Those buying an existing home will receive no grant.
The withdrawal of the FHOG for existing homes was announced by Tasmanian premier Lara Giddins as part of her recent 2013-14 state budget announcement.
Giddins said the $7,000 grant for new homes only would provide "an ongoing stimulus to the building industry and creating jobs in the process".
"This change will bring Tasmania into line with other States such as Victoria, NSW and South Australia while saving an estimated $11 million per annum, which will be used to fund job-creating changes to the payroll tax," Giddins said.
South Australian Premier Jay Weatherill will deliver his state budget on June 6, but the state's revenue office website reveals that the already reduced $5,000 FHOG will end on June 30. The state's $15,000 FHOG for new homes is ongoing.
These are the key dates first-home buyers need to diarise:
All dates correct as of May 27 2013.
June 30, 2013 - Victoria
The date the Victorian government ends its $7,000 first-home owner grant. The grant is available if the price of the property or construction of the home does not exceed $750,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land.
June 30 2013 - South Australia
The $8,000 Housing Construction Grant (HCG) will expire on June 30. It applies to contracts entered into between 15 October 2012 and 30 June 2013, or in the case of owner builders, where construction commenced between 15 October 2012 and 30 June 2013. A property value cap of $450,000 applies.
June 30 2013 - ACT
The Home Buyer Concession Scheme (HBCS), offering stamp duty concession to first-home buyers and anyone else purchasing a new home or residential vacant land under certain thresholds (<a href="https://www.revenue.act.gov.au/home_buyer_assistance" target="_blank" rel="nofollow">details on the ACT government website</a>), is due to expire on June 30.
July 1, 2013 – Victoria
The start of the $10,000 grant in Victoria for newly constructed homes. In addition, the state government will also increase stamp duty cuts of 40% for all first home owners (including those buying existing homes) for homes valued up to $600,000. The combination of a $10,000 first-home owner grant and 40% stamp duty cut means that Victorians buying a newly constructed first home for $400,000 will save over $16,500.
January 1, 2014 - NSW
The $15,000 grant for first-home owners who purchase or build a new home in NSW valued at up to $650,000 will reduce to $10,000 from this date.
June 30, 2014 – Tasmania
Up until this date, Tasmanian first-home buyers of established homes are entitled to a $7,000 grant. From July 1, 2014, the grant is only available to those who buy or building a new home, including off the plan and house and land packages.
June 30, 2014 – South Australia
Up until this date, South Australian first-home buyers of established homes are entitled to a $5,000 grant. From July 1, 2014, no first-home owner grant is available to purchasers of established homes.
June 30, 2014 – South Australia
Stamp duty concessions for first-time buyers who purchase an apartment off the plan in the Adelaide CBD will end on this date. The scheme is available on the transfer of a new CBD apartment or a "substantially refurbished apartment" for a contract entered into from May 31, 2012, to June 30, 2014, capped at stamp duty payable on a $500,000 apartment of $21,330. 
June 30, 2014 – Tasmania
The $8,000 First Home Builder Boost Scheme grant available to Tasmanians building a new home (including off-the-plan) if the qualify for the first-home owner grant will end on this date.
September 1, 2014 - Victoria
All first home buyers (whether purchasing newly constructed or established homes) will benefit from a 50% stamp duty concession for homes valued up to $600,000.
June 30, 2016 - South Australia
Partial stamp duty concessions for first-time buyers who purchase an apartment off the plan in the Adelaide CBD will end on this date.
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Tasmania and South Australia to axe first-home owner grants from June 30 2014: key dates to diarise

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Writing about the Australian economy and in particular the resources sector is way too important to be left to newspaper journalists. Somebody competent should be doing it.  
Not a day goes by without an over-rated hack with "editor" in his or her byline - economics editor, small business editor, deputy resources editor, acting deputy rural editor - declaring the resources boom to be over.  
A total of 73 mining, gas and infrastructure projects costing $268 billion are under construction but, according to nine out of 10 journalists who misquoted the Bureau of Resources and Energy Economics, this constitutes the end of the boom.  
Imagine how big it was before it finished.  
Are we so desensitised by the numbers attached to mega projects that proliferate in this country that $268 billion in investment is interpreted as a slump?  
Of course, the BREE report did not declare the end of the resources boom, as many print journalists so dishonestly claimed. When a journalist for The West Australian, Shane Wright, wrote "The resources investment boom is over, a new report has found" he was being inaccurate. That wasn't the finding of the BREE report, it was Wright's own spin on the report content, for the sake of a cheap headline.  
He also stated, inaccurately, that the "figures show for the first time since the boom began that the value of new mining and energy projects is falling". This ignores events around 2008 when the GFC caused many resources projects to be deferred or scrapped. Many journos declared the end of the resources boom then as well - not to mention myriad predictions of recession and double-digit unemployment.  
But, despite the global economic calamity, the resources sector bounced back, stronger than ever. And will do so again.  
The basic message in the BREE report is that an unprecedented $394 billion has been spent developing 390 resources projects since 2003. The great bulk of that is the $268 billion invested in projects currently still under construction.  
Based on the current status of known projects, this will drop to $256 billion by the end of the end and then to $248 billion in 2014.  
If no new projects are announced, and if none of the projects currently rated as "deferred" came back on line, investment will be about $70 billion in 2017.  
A couple of things about that. The $70 billion figure is where things were at in 2007, when it was considered to represent the mother of all booms amid a raging national economy. We've become a little blasé about the enormity of the numbers since.  
But that figure assumes no new events or no resuscitation of projects that have been sent back to the drawing board as mining companies seek to reduce costs - projects like the expansion of Olympic Dam, the Browse Basin gas project and expansion of port facilities at Port Hedland.  
I'm pretty sure that a lot more than $70 billion will be pouring into resources projects in 2017. So too is BREE. The fine detail in its report, overlooked by many journalists seduced by the opportunity to declare the boom over, suggests that 120,000 new jobs could be created in the resources sector in Queensland and New South Wales alone over the next 10 years.  
If all potential projects go ahead, another $270 billion will be invested, creating 80,000 jobs in construction and 40,000 in operation.  
BREE resource manager John Barber says: "The resources boom is progressing. We're turning that investment into projects that will deliver economic benefits such as jobs and revenue to Australian economy for years to come."  
Consulting group Wood Mackenzie has published an optimistic outlook for the resources sector, particularly for oil and gas. It says there is unprecedented spending in this sector and expects it to continue.  
"The outlook for the next three years confirms the strength of the Australian resources sector," it says.  
Wood Mackenzie's Gero Farruggio sees Australia's dominance in iron ore increasing, taking its share of global seaborne trade above 50% by 2016. He also says the resumption of deferred coal projects and the development of new projects will keep resources spending strong through to 2017.  
Wood Mackenzie sees investment in iron ore, gas and coal remaining high for at least the next three years.  
The resources cycle is never smooth but the current boom in Australia, which started a decade ago and has persisted despite the GFC and the fluctuations in commodities prices, will continue to drive the national economy and many of its property markets.
Terry Ryder is the founder of <a target="_blank" rel="nofollow" href="https://www.hotspotting.com.au/">hotspotting.com.au</a>
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Newspapers getting it wrong on the never smooth resources boom: Terry Ryder

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Is this a price spike or a stepping stone to a new price level?
There is little doubt that Melbourne's $1 million-plus market has been seeing increased activity either side of Easter, and that its strength is filtering into the $3 million-plus top end in noticeable ways.
The clearance rate for Inner Melbourne and Bayside’s $1 million-plus property was 74% on the 38 auctions we covered. Bidderman, our bidders per auction measurement, was back up at 1.8.
Is this a price spike, after which we go back to “more-normal” market? Or is this a stepping stone on the way to another more sustained “new level” of price?
Interest rates and the dropping dollar certainly appear to be accentuating the increased demand at the top end. We have had minor but noticeable increases in enquiry from overseas clients.
In Malvern, an expat is believed to have bought 4A Mayfield Avenue via an expression of interest. This property was on the market quietly late last year and had a nibble at $5 million but was not bought. It has now sold for close to $5.5 million. As the dollar drops further we are likely to see more cases of expats buying back in to the Australian top end market, pushing prices up still further.
Other evidence of a strengthening market is the increase in $1 million-plus sales in the "B" suburbs of Balwyn North, Box Hill, Beaumaris and Bentleigh that fringe the more-traditional blue chip suburbs.
When you see sales improving in these suburbs you know the top end market generally is improving because buyers start moving there when they can no longer afford the blue chip suburbs. The reverse happens when a market is falling, as fringe buyers move back from these fringe suburbs into the blue chip suburbs.
We're also seeing buyers becoming more anxious about missing out on a home, and sometimes insisting on buying anything - even if it is not really suitable for their needs. We believe these kinds of panicky purchases can lead to poor long term financial and/or emotional outcomes. Over the long term, any market fluctuations that might happen while you're waiting for the right home, will be more than evened out by the better outcomes - financially and emotionally.
Mal James is principal of<a rel="nofollow" target="_blank" href="https://www.jamesbuyeradvocates.com.au/" title="James Buyer Advocates"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.

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Melbourne suburbs see more buyer activity as prices jump in blue chip areas: Mal James

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Perth leads the nation with 5.5% annual home value growth followed by Sydney at 4.2% annual growth, according to the latest RP Data release.
Perth is the only capital among the five majors to be in the positive over the past month.
<img alt="rpdatahomevaluesmay27one" src="/images/stories/2013/05/rpdatahomevaluesmay27one.jpg" width="470" height="223">
<img alt="rpdatahomevaluesmay27two" src="/images/stories/2013/05/rpdatahomevaluesmay27two.jpg" width="470" height="190">
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Perth leads nation in annual price growth: RP Data

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You don’t have to be a golfing enthusiast to move to QM Properties golf course development The Fairways.
Located 50 minutes west of Brisbane, the <a href="https://www.qm.com.au/residential-projects/fairways" target="_blank">Hatton Vale development</a> is releasing its latest stage of 24 lots ranging from 400 square metres to 9,811 square metres.
Facilities in the estate include a primary school and two nearby childcare centres.
<img height="311" width="470" src="/images/stories/2013/05/fairwaysmay27one.jpg" alt="fairwaysmay27one">
Prices for allotments range from $99,950 to $149,500.
The Fairways first launched in June 2004 and 357 lots out of the total 545 lots have sold.
<img height="309" width="470" src="/images/stories/2013/05/fairwaysmay27two.jpg" alt="fairwaysmay27two">
QM Properties sales manager Damien Ross believes The Fairways development to be the most affordable golf course land in Australia.
Ross says the estate traditionally attracted golfing enthusiasts but is now attracting more families looking for bigger blocks and country view outlooks.
“Many of our buyers don’t even play golf, but are attracted to the large blocks and country style outlook.
“We have a large percentage of buyers who are moving there from other smaller lot residential subdivisions,” says Ross.
Ross says there is a strong sense of community in a golf development that you don’t really get in high-density living.
<img height="313" width="470" src="/images/stories/2013/05/fairwaysmay27three.jpg" alt="fairwaysmay27three">
Residents include RAAF reservist and former F-111 aircraft engineer Darrly Prestidge and his family.
Prestidge built a six-bedroom, three-bathroom home.
“We got fed up with the noise and really wanted to have somewhere quieter that gave us room to build a big house for the family,” says Prestidge.
The newest stage is set to be completed in June 2013 and 17 allotments in stage R have already sold.</body></html>

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You don't have to be a golfing enthusiast to live at Hatton Vale's The Fairways

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GPT Group has formally withdrawn its bid to acquire the non-residential businesses of Australand.
A <a target="_blank" href="/news">$2.8 billion bid</a> to acquire Australand’s investment property portfolio and commercial and industrial businesses was rejected in December.
"The GPT Group (GPT) announces that it has withdrawn from pursuing a proposal with the Board of the Australand Property Group (Australand) to acquire its Commercial and Industrial assets and business," said the A-REIT. "GPT expressed an interest to work with Australand in early December 2012 to develop a proposal in the interests of both sets of securityholders.
"Following the completion of  detailed due diligence and discussions, it has become apparent that a transaction at a price that GPT is willing to pay is not possible. "GPT has maintained a disciplined approach and has consistently advised the market that it does not need to proceed with the transaction to achieve its strategic goals. "GPT will continue with its existing organic growth plans for its logistics &amp; business parks and office portfolios and allocate capital accordingly," said GPT. 

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GPT pulls out of Australand bid 

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Despite the continued terrific auction clearance rates, Melbourne vendors must still expect to discount their private treaty asking prices by 8.9% to secure a sale. Melbourne private treaty houses are typically selling fairly quickly at 46 days.
But only Hobart requires a higher discount of 9.5%, according to the latest RP Data information. Hobart's typical 67 day time to secure a house sale isn't the slowest capital city as Adelaide, Brisbane and Darwin are currnetly taking 70 days or more.
With the fastest sales rate in the country, Sydney private treaty house stock is rushing out the door in just 35 days average time on market with vendors required to typically offer a 6% discount for houses.
For Sydney private treaty established unit stock is even quicker selling in just 32 days average time on market with vendors required to typically offer a 4.1% discount. The data covers the week ending May 26.
Just three months ago Sydney houses were also spending  the least time on average on the market, but it was taking 70 days. Sydney units in late February were typically take 59 days to sell, <a href="/news">also the quickest sale type in the country</a>.
<img alt="rpdatatommay28one" src="/images/stories/2013/05/rpdatatommay28one.jpg" width="470" height="317">
<img alt="rpdatatommay28two" src="/images/stories/2013/05/rpdatatommay28two.jpg" width="369" height="331">
<img alt="rpdatatommay28three" src="/images/stories/2013/05/rpdatatommay28three.jpg" width="364" height="330">
'Time on market' (TOM) is the average number of days between when a property is first listed for sale and the contract date.
The rate of vendor discounting isthe average percentage difference between the original listing price and the final selling price.
The statistics are calculated across results received by RP Data overthe past week and include properties transacted over the past four weeks.
The data is based on private treaty sales only and records without a valid sale price havebeen excluded from the vendor discount analysis.
The analysis also excludes results where there are less than 10 observations.
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Sydney's sale pace picks up as time on market cut by half: RP Data

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The market for the sale and purchase of a business lacks the easy-to-access metrics of the residential housing market.
There are no median prices and nor are there any clearance rates. As a result, trends can really only be found through the people buying and selling businesses: the business brokers themselves.
The REIV Business Broking Chapter contains a wealth of just this sort of knowledge. Its members know what will sell, what won’t and how best to prepare your business for sale.
After studying the trends in their business they have highlighted five types of businesses that are currently finding buyers.
<ul>
<li>
Service-based businesses suitable for white-collar professionals.
</li>
</ul>
This reflects the broader trend towards service-based industries in the Victorian economy and is an attractive business type as the established cliental is readily transferrable with the sale. Brokers find this sort of business is in reasonable demand because of the guaranteed income.
<ul>
<li>
Manufacturing businesses with niche products
</li>
</ul>
It is no secret that broad-based manufacturing does not hold the place in the local economy that it did a few decades ago, but that does not mean there is no future in the market. Rather the focus has shifted to business based around specialised products, often with small production runs. These businesses are able to compete because of the unique nature of their product and they don’t face the cost based pressures from the high Australian dollar and related costs.
<ul>
<li>
Industrial businesses that provide a service to other industries
</li>
</ul>
As businesses look to find ways to reduce fixed overheads in the face of competitive pressures they often outsource functions that are uneconomic to provide due their specialised nature or irregular need. This has created a niche business of industrial service businesses.
<ul>
<li>
Micro businesses that can provide a second family income
</li>
</ul>
Families looking for a way to increase the household income have two choices, finding further waged employment or running their own, small, business. This has created a demand for very small business that can be run from a home office. This trend has been boosted by the Internet which allows a world-wide audience and simplifies the process of selling.
<ul>
<li>
Businesses involved in health and aged care
</li>
</ul>
Australians are spending increasingly large amounts on health and aged care as our population ages. This creates an ongoing and strong demand for services in the sector. Not surprisingly the businesses that operate in the sector are also in high demand and according to REIV business brokers also readily find buyers.
To find an REIV Business Broker visit <a target="_blank" href="https://www.reiv.com.au/Members/Agency-Search">https://www.reiv.com.au/Members/Agency-Search</a>.
Colleen Danaher is chair of the REIV Business Broking Chapter.
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Five types of businesses currently selling well: REIV's Colleen Danaher

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The property market has <a href="https://www.smartcompany.com.au/property/055623-sydney-weekend-clearance-rate-at-three-year-high">continued its strong year</a> with another weekend of high auction clearance rates, and the lower Australian dollar could make it even stronger.
Experts say the plummeting currency could actually start encouraging more foreign investors to spend their money in Australia.
“This goes both ways,” says SQM Research managing director Louis Christopher. “You see existing property investors being hurt by the lower dollar because it means they’re getting less of their local currency coming back.
“That being said, when we see a falling dollar, housing becomes cheaper for those who are considering entering the local market and it means they’re getting a better price.”
The dollar has continued its fall, opening this morning above US96 cents. New reports indicate the dollar could hit as low as US85 cents within the next year, according to Fairfax. Many economists have expected this fall to eventuate as the American economy improves.
But as Christopher explains, the lower dollar attracts property investment to certain areas.
“The falling dollar is good for the local economy, and therefore it becomes good for the local housing market,” he says. “We’ll see more international tourism, and less domestic tourists who head overseas.”
Meanwhile, the property market has continued its streak of solid auctions results.
The Real Estate Institute of Victoria (REIV) reported Melbourne recorded a clearance rate of 71% over the weekend, compared to the same result last weekend and 60% the same time last year.
“Strong clearance rates continue to be recorded in the inner east, south eastern and Bayside suburbs this year as competition among bidders increases in some of Melbourne's million-dollar suburbs,” REIV chief executive Enzo Raimondo said in a statement.
There were 665 auctions reported, with 473 sold.
In Sydney, the city recorded a clearance rate of 76.5%, based on 286 reported auctions and 237 sales. The figure compared to 54% recorded during the same time last year.
Both results continue the strong series of clearance rates recorded during 2013, alongside positive sales price data from RP Data and the Australian Bureau of Statistics.
Christopher says he believes the market is in a state of “modest recovery”.
“Overall, the market is in a recovery. In some cases it’s a little quicker than modest, but house price growth has been difficult to measure because the reporting bodies have been varied.
“However, our opinion is that we’re still on the recovery path.”
Christopher says while the Melbourne and Sydney markets have remained positive, Canberra is struggling.
“The market is hurting there, and Darwin… while fairly strong, we think is sensitive to a downturn.”
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
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