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.

Joel Robinson

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

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

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

<html><body>
As tenants keenly line up, the $575 million Colonial First State development Emporium Melbourne nears its scheduled December completion date.
It will be the first Melbourne site for Japanese retailer Uniqlo, joining the likes of British retailer Topshop who will open their second Melbourne store in Emporium Melbourne.
<img src="/images/stories/2013/04/emporiumapril24two.jpg" alt="emporiumapril24two" width="470" height="277">
The quarterly update released this week by CFS confirms recent retail leasing deals with lululemon, Marcs, Saba and M.J. Bale.
Previously announced stores include Coach, Carla Zampatti, Mulberry, Scanlan &amp; Theodore among many others.
Uniqlo will lease 3,000 square metres of retail space over four floors – a larger store than the 2,600 square metre Topshop store over three levels.
Emporium Melbourne will replace the former Myer Lonsdale Street store and will offer over 225 stores of premium retail space over eight levels.
The gross leasable area of the complex is 48,000 square metres with Myer accounting for 7,000 square metres of retail space.
<img src="/images/stories/2013/04/emporiumapril24one.jpg" alt="emporiumapril24one" width="470" height="402">
Designed by Buchan Group and WonderWall from Japan, the heritage listed facades on both Lonsdale Street and Lt Bourke Street will be restored.
The complex will also link with department stores Myer and David Jones via Pedestrian Bridges and tunnels.
Emporium Melbourne is being built by Grocon and was at the heart of the dispute last year between Grocon and CFMEU.
The project commenced in February 2011 and retail trading is set to commence later this year.
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Names, names names.....Uniqlo, Marcs, Saba and M.J. Bale set for Emporium Melbourne

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A mixed-used commercial and residential building metres from <a href="/news">Bondi Beach</a> is expected to fetch over $20 million at its May 8 auction.
Located on a prime corner site at <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/doublebaybondibeach/properties/275024" target="_blank">Hall Street and Gould Street</a>, the three-level building includes eight retail shops and 10 residential apartments.
It is currently home to 7-Eleven and Flight Centre, who both have long-term leases.
“Properties like this are exceptionally rare, especially in this location, which will drive highly competitive bidding and should result in this being one of the highest priced commercial properties sold at auction for many years,” says Anthony Bray of CBRE.
“This property offers the option to sell each unit off individually, or keep as an investment and enjoy growing returns currently at $1.3 million a year, plus substantial depreciation benefits.”
“This building is strata approved and offers the possibility of increasing the floor space subject to council approval,” says Bray.
CBRE and Raine &amp; Horne Double Bay agent Martin Maskin have the listing.
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Mixed-used building in Bondi Beach expected to fetch over $20 million at auction

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A New South Head Road Double Bay retail offering sold at its recent auction for $4.425 million to a local investor.
It last sold at $1.585 million in 1992 to the South Australian Investment Corporation, a trustee company directed by Jennifer Pridmore, John Hugo, Victor Hugo and Allan Farrer.
Its represented 5% annual growth over the 21 years.
<img alt="doublebayapril18one" src="/images/stories/2013/04/doublebayapril18one.jpg" width="470" height="305">
Close to the much anticipated $110 million Kiaora Lands redevelopment, it was offered vacant possession. The 425 square metre site has a 520 square metre nla.
The building has been occupied by Double Bay Clothing Warehouse for 23 years, according to the marketing. 
Its been on and off the market since 2010.
"This is the perfect time and opportunity to capitalise on this significant adjoining development and rare freehold opportunity in the heart of Double Bay," the marketing by Miron Solomons and Warren Duncan from City Commercial Property said.
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Double Bay $4.425 million retail sale after three years trying

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Retail development activity is likely to increase over the next few years, according to M3 Property Strategists.
Over the past three years, the number of building approvals has increased to above long-term averages.
Last year, Victoria had $1.6 billion of retail building approvals – the highest of any state – with NSW approvals rising noticeably.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/04/chartoftheweekapril24one.gif"><img src="/images/stories/2013/04/chartoftheweekapril24onethumb.gif"></a>
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Retail building approvals on the rise led by NSW: Chart of the week

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Should you be fixing the interest rate for the term of your investment loan, or simply running with the best variable rate?
Lurking behind that question is another concern: will interest rates fall any further, and if so, by how much?
The case for a further interest rate cut:
Many pundits feel the rest of the rest of the economy may not pick up the slack from the anticipated decline in the mining sector.
And that's mainly because manufacturers are still struggling on two fronts in coping with our high dollar:
1. cheaper imports make them less competitive in Australia; and
2. the high dollar makes their exports less competitive overseas.
Even though new housing construction enjoyed a 2% jump during the December quarter, it has since flattened out and may well need a boost.
The case against a further interest rate cut:
With the level of Australian household savings at a record high, a sizeable "war chest" has been created for consumers.
And after five years of doing nothing, most people have now become rather bored. They have been squirreling away funds for a rainy day, which (for Australia) simply hasn't come.
So far, it has purely been a confidence issue. But positive events have been consistently occurring over the past six months. Things like:
<ul>
<li>
A partial resolution of the US fiscal cliff;
</li>
<li>
US employment data continues to improve;
</li>
<li>
Our government has backed off its surplus commitment;
</li>
<li>
Iron ore prices have increase about 70% since September;
</li>
<li>
The EEC claims the "essential threat" to the euro is over;
</li>
<li>
Australian share prices and bond yields have risen; and
</li>
<li>
Unemployment has remained fairly steady.
</li>
</ul>
All of which would tend to indicate the only way for interest rates from here is upward.
The blip in the unemployment figure of 5.6% for March will probably provide you with a small window in which to still obtain a competitive fixed interest rate for your mortgage.
Because <a href="https://his-best.biz/does-a-solid-sales-increase-in-february-mean-the-retail-sector-is-back/" target="_blank">as we discussed last week</a>, the unexpected strength of retail sales during February is seen as a lead indicator — signifying the return of consumer confidence.
And that has also been reflected in the high clearance rates for in-city residential auctions around Australia — currently hovering between 65% and 70% each week, so far this year.
By mid-2013, this will also be fully reflected within the commercial sector, which is already starting to see a strong increase in demand.
Bottom line: you probably have about two months in which to secure a reasonable fixed rate for your investment loans. And I would strongly suggest you <a href="https://his-best.biz/commercial-property-arranging-your-finance/" target="_blank">engage a good finance broker</a> to help you source them.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a target="_blank" rel="nofollow" href="https://property-edge.com.au/">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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Now could be the time to secure a competitive fixed-rate investment loan: Chris Lang

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The Toga Group has acquired the Leisure Inn Hobart Macquarie for $13.65 million possession in a joint venture with a private equity partner with plans to re-brand it as a Travelodge Hotel.
The hotel at 167 Macquarie Street formed part of the collapsed Bluechip Properties Australia Pty Ltd group headed by <a href="https://www.propertyobserver.com.au/leisure/bluchip-hotel-chain-which-operates-under-the-leisure-inn-brand-enters-receivership/2012101657201" target="_blank">high-profile Sydney property mogul Kurt Braune</a>.
RP Data records show Bluechip acquired the hotel for $3.75 million in September 2004, spending $6 million refurbishing it between 2006 and 2010.
Bluechip was placed in the hands of receivers Korda Mentha in October last year after running into debt obligation difficulties with Bankwest the major creditor.
Other hotels in the Bluechip group include Woolmers Inn and the Waterfront Lodge in Hobart and Launceston's Penny Royal.
The hotel, built in 1968, had been listed for sale last year with price expectation in excess of $16 million, The Mercury reported in October last year.
The investor report notes that it is as “short stroll” from Battery Point, Salamanca Place and Hobart waterfront restaurant and bars.
The sale price represents an initial yield, after management fees, of 9.55% with the hotel forecast to bring in annual net income of $1.3 million in 2013.
For the year to July 2012 its earnings before interest, tax and depreciation were $1.37 million with revenue per available room of $74.
It was sold as vacant possession with an average daily rate of $107 and an occupancy rate of 73%.
It had been managed by Staywell Leisure under an agreement which was due to expire in November 2013, but with the option to acquire as vacant possession.
The hotel features 131 rooms and has an AAA rating of 3.5 stars. It includes two restaurants, a bar and parking for 38 vehicles, 14 of these spaces leased from an adjoining property.
The sale was negotiated by Rob Cross, Andrew Jackson and Scott Callow from CBRE Hotels, who said the likely intention of the purchase was to install a Travelodge branding and management agreement.
According to the investor report prepared by CBRE, Tasmania’s hotel market has remained stable in terms of supply levels, with the total number of available rooms at 2,327 available per night.
From December 2006 to December 2011, the total number of available rooms has risen by only 1.7% percent.
"A buoyant occupancy rate growth figure was experienced in the 12 months to March 2012 in the Hobart Tourism Region, with occupancy at 74.3% Average room rate saw a 4.2% increase in comparison to the 12 months prior, to $133.14," says the report.
Toga Group's hospitality management division comprises Adina Aparment Hotels, Medina Serviced Apartments, Vibe Hotels and Travelodge Hotels.
<a target="_blank" href="https://www.propertyobserver.com.au/leisure/former-labor-party-favourite-the-hotel-kurrajong-sells-for-%24765-million/2013032560034">Last month Toga Hotels and the NRMA</a> acquired Labor Party favourite, the Art Deco-inspired Hotel Kurrajong in Canberra’s Parliamentary precinct for $7.65 million at auction.
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Toga Group buys Kurt Braune’s Leisure Inn in Hobart on 9% yield

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Louis Christopher of SQM Research has highlighted a worrying trend towards increasing vacancy rates in a number of mining towns.
In <a target="_blank" href="https://www.propertyobserver.com.au/residential/gladstone-leads-dramatic-rental-vacancy-rise-in-mining-towns-sqm/2013041860501">this article</a> on Property Observer and also <a target="_blank" href="https://www.bloomberg.com/news/2013-04-18/australia-mining-town-vacancy-jump-shows-investor-risk-sqm-says">here on Bloomberg</a>, some of the larger recent rises were identified in Port Hedland, Karratha, Gladstone and Roma.
Investors in property are usually wise to seek out areas where vacancy rates are low as this can drive up rents and property prices. Interestingly, while Melbourne (2.6%) and Hobart (2.0%) recorded higher than the national average vacancy rates in March, other capital cities showed lower than average vacancy rates which in part explains why prices have been forced up a little since the middle of 2012.
Terry Ryder of Hotspotting highlighted <a target="_blank" href="https://www.propertyobserver.com.au/residential/why-now-could-be-the-time-to-buy-in-bowen-terry-ryder/2013021359332">on Property Observer</a> how vacancy rates in Queensland's Bowen, which he tipped for growth in <a target="_blank" href="https://www.hotspotting.com.au/article/2222-bowen-again-to-be-real-estate-coast-with-the-most-">2011</a>, <a target="_blank" href="https://www.smartcompany.com.au/property/20120111-mining-towns-lead-list-of-property-hotspots">2012</a> and a <a target="_blank" href="https://www.propertyobserver.com.au/residential/why-now-could-be-the-time-to-buy-in-bowen-terry-ryder/2013021359332">few times</a> in <a target="_blank" href="https://livingspace.commbank.com.au/what-to-expect-in-2013">2013</a>, have jumped alarmingly, up to 18% according to local reports.
Bowen, although in a region influenced by coal mining, is not a pure mining town per se. I haven't visited the land of the Big Mango since 2011 so any observation from me is valueless, but one assumes that the vacancy rates are largely related to seasonal agricultural work and fruit-picking, and so may only be temporary.
It's all too easy to generalise when it comes to mining towns; rather they are to be assessed on a case-by-case basis.
As someone who grew up in South Yorkshire where mine closure after mine closure devastated our pit villages mining towns are not for me,  but if you're going to invest in mining towns here are three of the risks to watch out for:
Risk 1 - Transition to production
In the resources sector it is often the case that the construction of a project is a highly labour-intensive business. But the operational phase is often a significantly less labour-intensive affair than the construction, and thus the property market dynamics duly shift.
Consequently, property investors need to be vigilant regarding projects approaching construction completion and be certain that demand for rental property will remain high. This is particularly pertinent at this point in time as the mining construction boom is finally reaching (or possibly has reached) its peak, with capital expenditure looking set to decline markedly in the 2013/2014 financial year and beyond.
A number of planned major projects or extensions have not received green ticks and therefore the decline in capex investment may accelerate faster than previously expected. Paradoxically, it is this very data set below which dictates that the next move in interest rates will be down, which in turn is likely to lure further property investors into the markets.
Throw in a benign CPI print on Wednesday and another weak Labour Force report on May 9 and the cash rate cut to a record low 2.75% could even be as soon as June 4...
<img src="/images/stories/2013/04/wargentapril24one.jpg" width="470" height="179" alt="wargentapril24one">
Source: ABS
Risk 2 - Commodity price collapse
Where a town is reliant on a single project which is highly exposed to one commodity price, be very wary. Certain commodity prices have been slammed over recent months, so you must tread only with precision.
As a former Group FC in the wonderful world of South Australian copper mining, I often cocked half an eyebrow at pundits promoting Adelaide property by <a target="_blank" href="https://www.momentumwealth.com.au/sites/momentumwealthcomau/assets/public/Media/2011/API%20Mag,%20Standing%20in%20the%20Shadows,%20March%202012.pdf">talking up</a> BHP's ambitious Olympic Dam open-cut expansion. Sure enough, it was postponed indefinitely in August 2012.
Some experts have been <a target="_blank" href="https://www.realwealthaustralia.com.au/media/vox_pops.pdf">tipping Adelaide</a> for years now, particularly the cheapest quartile of the market, but RP Data reports that prices in the most affordable sector of that market are miles off where they were back in 2010, <a target="_blank" href="https://petewargent.blogspot.com/2013/04/sydney-middle-market-surges-24-above">down some 10%</a>. In fact, of the capital city markets only Sydney's middle market has pushed on to new heights <a target="_blank" href="https://petewargent.blogspot.com/2013/04/sydney-middle-market-surges-24-above">by around 2.4%</a>, in particular unit prices which reached a new peak way back, almost a year ago.
To be fair, vacancy rates have fallen to <a target="_blank" href="https://propertyupdate.com.au/latest-vacancy-rate-figures-rise-in-some-states-and-falls-in-others/">just 1.3% in Adelaide</a> so perhaps better times lie ahead, I don't know. But <a target="_blank" href="https://petewargent.blogspot.com/2013/04/jobs-blow-for-whyalla-sa">as I note here</a>, South Australia is treading through some very choppy waters right now.
Now for sure, there is more to South Australia than Olympic Dam (and indeed resources - healthcare and defence, for example), but be mindful and remember to be healthily sceptical of areas with land potentially available for release.
 
<hr class="system-pagebreak">
The manic-depressive Dr. Copper is looking borderline suicidal at the moment (we call him Dr. Copper because he is the only commodity whose price reflects a Ph.D. in economics for predicting turning points in the global economy).
Is the copper spot mooching around down at US$3.12/lb partly reflective of increased warehouse stocks? Hmm, possible, but unlikely. Or is the market price reflecting an expected substantial weakening in demand? Much more probable.
As for investing in property in a uranium mining town...well, if that's your life's calling and that commodity gives you a warm glow, then that's your lookout. Personally, I (literally) wouldn't touch it.
<img src="/images/stories/2013/04/wargentapril24two.jpg" width="470" height="307" alt="wargentapril24two">
<img src="/images/stories/2013/04/wargentapril24three.jpg" width="470" height="302" alt="wargentapril24three">
Source: Kitco
Risk 3 - Land release
Another area that sees much press is the Pilbara region with its sky-high rental high yields and stratospheric  median unit and house prices. I don't pretend to be able to predict the future, and again I haven't visited the region in two years, but there is an inherent risk in such regions of land release (South Hedland, Karratha...) impacting prices.
With regards to the Pilbara and manic-depressive commodity prices, refer to Risk 2 above. If you buy property where median prices are already very high, then this must surely elevate investment risk, for a key element of the return on any investment is the entry price.
There is perhaps no more manic-depressive commodity price at presents than iron ore, and while Fortescue might tell you that the outlook for the commodity is bright enough (well, they would - FMG is one mightily-leveraged iron ore play after all) most commentators forecast that the price will recede.
In my opinion, the very point at which Australians sail merrily over the crest of the mining investment wave (cliff?) is a poor time to borrow other people's money for speculating in a mining town property.
You've been warned.
Pete Wargent holds a range of finance and property qualifications and is the author of <a target="_blank" href="https://petewargent.blogspot.com.au/" rel="nofollow">Get a Financial Grip – a simple plan for financial fr</a><a target="_blank" href="https://petewargent.blogspot.com.au/" rel="nofollow">eedom.</a>
Image courtesy of Flickr.
 
 
 
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pwargent-M4siyDbqQY

The three investment property risks in the challenging days ahead for some mining towns

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Eight Colliers International agents have raised $17,400 for Oxfam to help fight global poverty by braving the elements and going without sleep for 28 hours.  
The agents, Jeremy Gruzewski, Ben Baines, Hamish Burgess, Andrew Ryan, Rob Joyes, Ted Dwyer, Leigh Melbourne and Tony Landrigan, formed two teams to participate in the <a target="_blank" href="https://trailwalker.oxfam.org.au/">Oxfam Trailwalker Challenge</a> last weekend.
<img src="/images/stories/2013/04/oxfamapril24one.jpg" width="470" height="352" alt="oxfamapril24one">
Oxfam Trailwalker began in 1981 as a military training exercise for the elite Queen's Gurkha Signals Regiment in Hong Kong. It has since grown into one of the world's leading team endurance challenges, with 15 events in 11 countries.
The event launched in Australia in 1999, with Melbourne joining in 2003 and steadily growing each year since.
According to Oxfam, the 2013 Melbourne event comprised 3,024 walkers and, to date, has raised almost $2.3 million to aid in fighting poverty around the world.  
This year’s Melbourne challenge saw 750 teams walk 100km from Wheelers Hill through the Dandenong Ranges National Park to Wesburn from April 19-21.  
The Colliers International participants walked through the night, with no sleep, through seven checkpoints to complete the trail.  
Mr Gruzewski said each team had set a fundraising target of $5,000, which had been easily exceeded.  
“We’ve been blown away by people’s generosity – we’ve well exceeded our original fundraising goal and it’s a huge thrill to know that all the pain, exhaustion and blisters were worth it,” Mr Gruzewski said.  
“Oxfam do great work across the world to fight poverty, and we’re so glad the physical challenge we embarked upon will contribute, even in small way, to this very worthy cause.”  
Since November, the eight agents have endured blisters, chafing, sore legs, and shed lots of sweat in order to adequately prepare for the challenge.  
“It was a grueling challenge, which tested us not only physically but mentally and emotionally as well. We were pushed to our limits, but every step was worth it to know that we have been able to help Oxfam in their ongoing fight against poverty,” he said.
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Colliers staff join Oxfam Trailwalker effort

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Despite the attractiveness of lower interest rates and higher rental yields, the RBA expects less investor demand for investment property in coming years due to "lower trend capital gains".
This was noted by Luci Ellis, the head of RBA's financial stability department in a speech on the outlook for the property and mortgage markets delivered at the Citibank Property Conference in Sydney today.
Ellis presented the following chart at the Citibank Property Conference in Sydney today showing how rental yields, as measured by both RP Data and the Real Estate Institute of Australia, have been trending upwards while 10 year government bond yields have dipped. 
<img alt="rbaapril23one" height="439" width="470" src="/images/stories/2013/04/rbaapril23one.jpg">
“With slower trend growth in housing prices, total returns on rental properties would fall unless other things adjusted, said Ellis.
“Sure enough, rental yields, which are a real yield, have been rising in recent years. 
“They are now back to a level that seems like a more reasonable spread over long-run average indexed bond yields, given the investment risk. (And when you consider the current level of indexed bond yields, the rental yield looks even more attractive.),” said Ellis, who heads up the RBA's financial stability department. 
"But for given interest rates and rental yields, lower trend capital gains should result in less investor demand than we saw in the past couple of decades.
“Presumably this will also bring forth less construction activity than we used to see at a given level of interest rates," she said.
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Less investor demand likely for property due to lower capital gains outlook: RBA

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The RBA says housing price growth will be slower in future than in the past three 30 years.
But the central bank doesn't have a strong view about whether the ratio of prices to income should be mildly rising, falling or constant.
But they do think it is very unlikely to rise rapidly once again.
"Nor would we want to see another boom like the one a decade ago,"Luci Ellis, the RBA's head of its financial stability department told the Citibank Property Conference.
She suggested if the bank's analysis was correct Australia was facing the ‘new normal’, which implied additional changes to future outcomes.
"A second implication is that, if housing price growth is now cycling around a lower average, there will be more periods when prices are falling (a little) in absolute terms.
"This has implications for the loss given default (LGD) in mortgage portfolios.
"In my view, this vindicates APRA's decision to require a higher LGD floor than the 10 per cent minimum built into the Basel rules for banks using their own models.
"It also vindicates its decision to require higher risk weights for non-standard and high loan-to-valuation loans for lenders that do not use their own models.
"This has obvious implications for the rate of growth of bank balance sheets and profits.
"We have been making this point for a while," she said.
"Financial stability requires that the owners of banks accept that domestic balance sheet growth will be slower from here than it was in the previous 20 years or so.
"We would not want banks to ease their lending standards to make more loans and bring back the boom times.
"Nor would we want them to cut costs in a way that impinges on their risk-management capabilities."
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