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>
InterContinental Hotels Group will build the first Holiday Inn Express in Australia in the Perth CBD.
 The $35 million development comes as <a target="_blank" href="https://www.propertyobserver.com.au/western-australia/perth-property-prices-just-%247500-shy-of-all-time-peak-david-airey/2013020659194">Perth</a> boasts Australia’s highest CBD hotel occupancy rate of 85.1% according to the Deloitte Access Economics Tourism and Hotel Market Outlook report for the fourth quarter of 2012.
It forecasts the average price of a Perth hotel room is also expected to increase 30% by December 2015 from $199 to $259.
December 2012 quarterly tourist accommodation figures released yesterday by the <a target="_blank" href="https://www.propertyobserver.com.au/commercial/commercial-lending-up-86-in-december-abs/2013021359320">ABS</a> record a 71.6% occupancy rate for Western Australia licensed hotels with 15 rooms or more,  a 69.5% occupancy rate for serviced apartments and a 63.9% occupancy rate for motels and guest houses.
By comparison the hotel occupancy rate in NSW is 76.8%, for services apartments its 74.9% and  for guest houses and motels, 57.8%.
The 224 rooms in the Holiday Inn Express will be spread across 20 floors and will incorporate a circa 1888 heritage house.
It will be located at 257 Adelaide Terrace and overlook the Swan River.
The 1,308-square-metre site was purchased in 2007 for $5.05 million.
Launched in 1991, Holiday Inn Express has more than 2,190 hotels worldwide, targeting the more affordable end of the hotel market.
“There is real investment potential in Perth hotels at the moment, with the mining capital of Australia experiencing soaring room rates and a shortage of guest rooms,” says Ralph Nunis, head of Perth-based developer Sunfire Asset.
“The CBD hasn’t seen a new hotel build for more than a decade, so we’re delighted to be working towards a solution for both business and leisure travellers to the city.”
“Once open, the Holiday Inn Express business model also means we will be able to keep operational costs down and room rates at affordable levels, while meeting the highly competitive demands of the market for comfort, convenience and value,” says Nunis.
Construction is set to commence mid 2013 and has an expected completion date of early 2015.
“As one of Australia’s gateway cities, it is vital that visitors to Perth can access suitable and affordable accommodation,” says Trent Zimmerman, CEO of Industry Body Tourism &amp; Transport Forum.
Holiday Inn Express is one of nine IHG brands, including three brands currently operating in Australia - InterContinental, Crowne Plaza and Holiday Inn. 
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Perth to get first Holiday Inn Express as city hotel occupancy rate hits 85%

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With the exception of a few auctions – half of which are on the Mornington Peninsula – March is largely complete and there are clear indications that the market has moderately improved.
The clearance rate for March is currently 67%, which compares favourably to the 60% recorded in 2012. The clearance rate has come down from 72% in February this year, but given there were 60% more auctions in March, that is a reasonable outcome.
From the perspective of transactions, both auction and private sale, the REIV estimates a 9% lift in sales. Comparing sales volumes in March can often be complicated by when Easter falls and, as it occurred in April last year, it may have overstated the market in March.
This is a very healthy improvement as it shows overall market activity is higher as more people are actively buying and selling.
The improvement is also clear when the financial volume is considered. Last weekend saw $932 million in sales reported. Not only is that higher than any weekend in March last year, it’s the highest since the middle of April in 2010 when there were $936 million in sales.
Incidentally, the first quarter in 2010 saw three weekends with more than $950 million worth of homes transacted.
After Easter, auction volumes will be reduced, with around 500 in the first weekend of April and 550 in the second weekend.
Robert Larocca is communications manager of the <a rel="nofollow" href="https://www.reiv.com.au/" target="_blank">Real Estate Institute of Victoria</a>.
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Clear signs of improvement in Melbourne property market: Robert Larocca

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The $12.5 billion Westfield Retail Trust has reported a modest 2% rise in earnings for the 2012 financial year noting the expansion of international brands in its malls.
The trust comprises 38 Westfield's in Australia and nine New Zealand shopping centres with more than 12,000 shops.
The REIT reported $573 million in distributable earnings for the year ending December 31 2012.
Retail sales reached $20.9 billion with speciality retail sales of $9,852 per square metre in Australia and a portfolio occupancy rate of 99.5%.
The Westfield Retail Trust completed $1.5 billion in developments including Westfield Sydney (completed in April 2012) and the redevelopment of Westfield Fountain Gate (the biggest in the porfolio at 174,000 square metres) with a development pipeline of $1.2 billion.
The portfolio delivered a yield of 6%.
Westfield Retail Trust managing director Domenic Panaccio called it a "strong financial result" noting that several international retailers had entered or expanded their operations" among the portfolio of malls.
The portfolio is home half of all Zara stores in Australia and a third of all Apple stores.
Panaccico says he expects 2013 to continue to present challenges but says the trust's high quality shopping centres "remain the first choice for many domestic and international retailers".
This year the trust will commence redevelopment of Westfield Miranda and Westfield Mt Gravatt.
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Westfield retail trust reports 2% rise in earnings and growth of international brands

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Nearly half (45%) all real estate investment into the Asia Pacific region is flowing into Australian commercial property markets.
This is double the next biggest markets of Japan (19% of investment) and China (18), according to Jones Lang LaSalle, with investors attracted to Australia by its transparent markets, efficient regulatory regimes supported by solid economic fundamentals and relatively high yields.
Offshore buyers of Australian commercial property are now around four times greater than those selling their investments, a trend that commenced in 2007 and which has grown more pronounced in the last three years.
“Australia punches well above its weight in terms of direct investment,” said Jones Lang LaSalle’s head of research and consulting David Rees at a retail outlook breakfast in Melbourne this week.
“Last year 29% of investment came from offshore – an all-time record.”
Rees says that while the big commercial markets of New York, London and Paris continue to attract offshore investors, a significant flow of investments into the Asia Pacific region is underway.
“They are investing in the region because of the long-term growth prospects with a big shift to Australia,” Rees says.
“Capital flows into Australia are expected to continue through 2013,” he says, highlighting that retail and office yields are broadly in line with long-term averages, and very appealing to offshore investors.
Regional shopping centre yields are around 6.32% compared with a 10-year average of 6.39% while sub-regional yields are above the 10-year average of 6.39% at 6.32%.
However, a scarcity of premium assets (sought by offshore investors) should see yields compress by around 25 basis points at the tight end of the market.
Rees says the shift to Australian commercial real estate is part of a global re-weighting to real estate as global investors shift their portfolio weightings from the large equity and bond markets to the much smaller real estate markets.
“A 1% downsizing in global equity portfolios towards non-residential real estate implies a 7.8% increase in global real estate portfolios. A 1% reduction in global bond markets in favour of real estate has a similar impact. A 0.1% re-weighting of global real estate portfolios towards Australia implies an increase of around $9 billion in offshore holdings of Australia real estate,” says Rees.
 
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Australia to continue as commercial property investment hotspot in 2013: Jones Lang LaSalle

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More evidence has emerged of the damaging impact that changes to first-home buyer grants in NSW and Queensland are having on home buyer sentiment.
First-home buyer (FHB) sentiment fell 12.8% according to the latest <a href="/news">Genworth</a> Homebuyer Confidence Index, driving a 5.1% fall in the overall index – its lowest level since 2008.
The bi-annual index, a measure of home buyer and would-be home buyer sentiment, fell from 98.4 to 93.4 over the six-month period while the first-home buyer sub-index fell from 98.5 to 85.9.
Click to enlarge
<a href="/images/stories/2013/03/genworthmarch27one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/03/genworthmarch27onethumb.gif"></a>
“Changes to incentives in New South Wales and Queensland states may be affecting FHB con?dence more broadly, with New South Wales having the lowest proportion of prospective FHBs who thought now was a good time to buy a home,” the report says.
“New South Wales and Queensland both saw a large fall in the number of FHBs in the market, according to ABS data, of 56% and 66% respectively between September 2012 and January 2013.”
In addition, mortgage stress among FHBs is rising with the report finding that 41% of recent first-home buyers are expecting difficulty with mortgage repayments over the coming year – up from 18% in September 2012. 
The fall in the overall index was primarily driven by a 42% increase in the proportion of borrowers who expect to experience mortgage stress over the next 12 months rising from 18% in September 2012 to 27% in March 2013.
“The sharp rise in the proportion of surveyed FHBs experiencing and anticipating hardship follows the removal of FHB incentives on established dwellings in New SouthWales and Queensland, which went into effect in October 2012.
“Amongst FHBs in Queensland, over-commitment/borrowing was cited as the main reason for expecting mortgage stress," says the report.
Bridget Sakr, chief commercial officer of Genworth, says the changes to government grants led to a bigger drop in first-home buyer confidence compared with the overall decline in the index.
The changes to the FHB grants impacted on the ability of FHBs to purchase the properties they want, Sakr told Property Observer.
She highlighted the findings of the report that fewer than one in four FHBs wanted to buy a new home.
Despite this sharp fall in FHB confidence, time to buy a home sentiment is still higher than it was a year ago, though it too fell from 54% of FHBs to 49% as of March 2013.
“FHBs still aspire to own a home, this has increased from last year, but most want an established home in an area they want to live,” Sakr says.
“The grant removals have hindered them from being able to do that.”
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FHB grant changes drive home buyer confidence to lowest level since 2008: Genworth

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The Melbourne property market is like an incoming tide. It ebbs and flows on the waves of confidence and buyer demand. In some cases the property market slips backwards but it always seems to get back to where it once was.
Over the last couple of years the value of many properties have slipped back by 5% to 10% but we are now seeing the <a target="_blank" href="https://www.propertyobserver.com.au/news/the-10-insights-into-the-2013-property-market-what-why-when-and-where-to-look/2012121658500">market</a> take up that slack very quickly.
For example, in November 2010 a three-bedroom villa unit went to auction at <a target="_blank" href="https://www.realestate.com.au/property-villa-vic-hawthorn-106960682">3/15 Lisson Grove, Hawthorn</a> (pictured below).
<img src="/images/stories/2013/03/armstrongmarch27one.jpg" width="470" height="353" alt="armstrongmarch27one">
At the time, the market was coming to the end of a two-year strong growth phase, but even in such a strong market nobody expected the result that was achieved.
I remember seeing a shocked crowd of onlookers when the property sold for $1.26 million. This result set a new bar for this style of property in Hawthorn and took many people by surprise.
Scarcely six months after this sale the Melbourne market had fallen to its knees and the thought of achieving a similar result again seemed impossible.
However, last weekend a <a href="https://www.realestate.com.au/property-house-vic-hawthorn-113159479" target="_blank">property</a> (pictured below) in a very similar condition and in the same development went under the hammer.
<img src="/images/stories/2013/03/armstrongmarch27two.jpg" width="470" height="348" alt="armstrongmarch27two">
Leading into the auction the agent expected the property to sell in excess of $900,000 and had a reserve around $1 million. The massive result achieved a couple of years earlier was not on the cards as far as the vendor was concerned because ‘that was a different market’.
A large crowd turned up to the auction and when an opening bid of $1 million was placed it was clear the market for this style of property had shifted in the early months of this year. When the five bidders had all been exhausted the final result was a $1.22 million sale. This was just $40,000 short of the 2010 result and $200,000 more than what the vendor would have accepted.
The property market is a unique asset class because it is not primarily an investment. Its main job is to provide shelter. Over time family units grow and fall as we get married, have families, get divorced and eventually die. As a result our living requirements are always evolving.
Over the last couple of years there has been a fear that now is not the right time to buy but the necessity to move has been building in the background.
The market has been slipping back as many buyers opted to wait for the ‘right time’. But while they have been waiting the need for that extra bedroom or smaller home has not gone away. Essentially, even though the market has been weak, the pent-up demand has been growing and now we are seeing that demand flex its muscle.
These buyers are realising that they are in a low and steady interest rate environment and they have not lost their jobs.  The need to do something – in conjunction with the fact many have the capacity to make a move – is driving the market.
Like an incoming tide the market goes through surges. This is a normal part of the market cycle and we are now seeing the market surge back to where it was in 2010.
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/" target="_blank">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
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Melbourne property market bounces back to 2010 levels: Mark Armstrong

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Central, the retail heart of the $2 billion Central Park development in Sydney’s Chippendale being developed by Frasers Property Australia and Sekisui House Australia, will launch this spring. 
The retail precinct will comprise 20,000 square metres of retail area that will be integrated into one of Central Park’s residential buildings, <a target="_blank" href="/news">One Central Park</a>.
The retail area will cover six levels.
The street level will focus on fashion retailers and the inside of the ground floor will house a variety of fashion retailers and homeware stores.
The second and third floors will offer a mix of food outlets, bars and entertainment.
<img alt="centralmarch27one" height="248" width="470" src="/images/stories/2013/03/centralmarch27one.jpg">
Central Park has been architecturally designed by Jean Nouvel and local collaborating architect PTW Architects.
French artist Patrick Blanc and French lighting artist Yanne Kersale will also contribute to the project.
The interiors of One Central Park and Central will be designed by Koichi Takada Architects and Smart Design Studio.
<img src="/images/stories/2013/03/centralmarch27four.jpg" width="470" height="233" alt="centralmarch27four">
A main feature of Central Park will be its plans to be an urban village - with greenery growing up the sides of One Central Park and into the building themselves.
Gardens will line the escalators in Central, from ground level down to lower ground level.
 
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A heliostat – a device that contains 320 individual mirror panels – will be fixed to the bottom of the cantilevered Sky Garden of One Central Park and will bounce sunlight through Central during the day.
At night, the heliostat will boast 3000 coloured LED lights to create a light display, designed by Kersale.
“The heliostat will become a dramatic beacon on the city skyline as well as providing a dynamic, theatrical night-time experience for Central customers as it is out intention to trade well into the evening,” says Frasers Property's CEO Guy Pahor.
Central's main access point will be via Broadway Street.
<img alt="centralmarch27five" height="516" width="400" src="/images/stories/2013/03/centralmarch27five.jpg">
Broadway experiences approximately 74,000 pedestrians movements per day and ranks in as Sydney’s third busiest pedestrian street – behind Martin Place and Pitt Street.
Pahor said Frasers was attracted to the retail potential of the area due to the youth-biased demographics of the catchment area.
“55% of the catchment comprises of young singles and couples with a higher than average disposable income which will have a major impact on retail expenditure,” says Pahor.
Pahor says the locality to Central Station was also an important component, with 168,000 commuters passing through each day.
Central will offer time flexibility with trading hours from early morning to late in the evening.
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Central Park's retail precinct set to launch this spring

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The former Port Melbourne home of the highly awarded post-production company Soundfirm has been sold by Lemon Baxter for $3.275 million.
“It’s a brilliant corner site location with the potential for future re-zoning,” says Lemon Baxter associate director Nick Bade.
The site, at <a target="_blank" href="https://www.commercialrealestate.com.au/property/2009893055/for-sale/vic/port-melbourne/offices">35 Crockford Street, Port Melbourne</a> (pictured below) is 1,041 square metres with a building area of 1,020 square metres, and currently with parking for 15 cars.
<img alt="lemonbaxtermarch27one" height="272" width="470" src="/images/stories/2013/03/lemonbaxtermarch27one.jpg">
And a few blocks away, <a target="_blank" href="https://www.commercialrealestate.com.au/property/2010124538/for-sale/vic/south-melbourne/offices">35 Market Street, South Melbourne</a> (pictured below) has been sold for $3.75 million also by Lemon Baxter.
<img alt="lemonbaxtermarch27two" height="351" width="470" src="/images/stories/2013/03/lemonbaxtermarch27two.jpg">
“A financial services company has purchased the building that boasts exposed ceilings and timber and concrete floors, a good looking office,” says  Lemon Baxter director Paul O’Sullivan.
“We have definitely noticed a renewed confidence in the commercial market through <a target="_blank" href="/news">South Melbourne</a> and <a target="_blank" href="/news">Port Melbourne</a> over recent weeks.”
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Lemon Baxter secures sales in Port Melbourne and South Melbourne

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Whenever you're looking to acquire a commercial property for $1 million or more you should undertake thorough due diligence on it before making a final commitment.
However, some investors new to commercial property generally find themselves with a dilemma:
1. By carrying out their due diligence before making an initial offer, they could end up missing out on the property and running up unnecessary costs; or
2. By trying to make due diligence a condition of the contract, this may offend the vendor and derail the whole deal.
So, let's explore both of these approaches in a little more detail.
<h3>Due diligence before making your offer</h3>
Apart from incurring costs and running the risk of missing out, there is an even more important reason for not undertaking your due diligence before finalising the commercial terms of any deal.
You see, once you have completed your due diligence study, the vendor will assume your subsequent purchase proposals take account of any "defects" you may have found.
And you are then also making your offers against other buyers, who may not have been as thorough as you have.
Either way, you are at a disadvantage.
Due diligence after agreement is reached
At first glance, achieving this may seem an impossible outcome. But it all comes down to carefully framing your initial purchase proposal.
Anyway, more on that in a moment.
Once you pull it off, a post-agreement due diligence provides you (as the purchaser) with the upper hand:
<ul>
<li>You have already agreed the commercial terms of the deal;</li>
<li>The contract is conditional upon a satisfactory due diligence; and</li>
<li>You are not incurring any unnecessary costs.</li>
</ul>
But most importantly, if you do find any impediments with the property or documentation, you get a second bite at the cherry.
Sometimes, that may be reflected in an adjustment to the purchase price. And other times, the vendor will simply agree to rectify the problems you have uncovered.
Either way, you end up with an improvement to the deal already under contract.
How do you set all this up?
As mentioned earlier, it all comes down to how you frame your initial purchase proposal.
You see, most people view negotiating as an event, without realising that it is actually a process.
But even worse than that, they tend to focus solely upon one aspect: the price. Therefore, you end up with a situation where one party wins while the other loses.
Under those circumstances, to then ask for everything be "subject to due diligence" is clearly fraught with danger.
The secret lies in properly framing your initial proposal to include at least three or four items under negotiation, one of which being the aspect of due diligence.
Bottom line: Top clients are given a copy of this purchase proposal from my swipe files — which you will also receive, as soon as you become part of my <a target="_blank" href="https://howtomastereverynegotiation.com.au/">Negotiating Master Class</a>.
And armed with this, you'll then hold a strategic advantage during all future purchases you make.
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 rel="nofollow" href="https://property-edge.com.au/" target="_blank">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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Think carefully about your commercial property purchase due diligence: Chris Lang

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Adelaide retailers will be hoping the $385 million Rundle Place development, six years in the making and which opened this week, will draw more shoppers into the CBD. 
Rundle Place features 85 shops over 22,000 square metres of retail space running between Grenfell Street and Rundle Mall as well as an 11-storey office tower covering 30,000 square metres pre-leased to the Bendigo and Adelaide <a target="_blank" href="companies/bendigo-bank">Bank</a>, scheduled to open in October.
<img src="/images/stories/2013/03/rundlemarch27one.jpg" width="470" height="303" alt="rundlemarch27one">
It has been developed by the Pacific Group and designed by retail architect Andrew Mackenzie, the Melbourne-based director of The Buchan Group.
The main entrance to the new centre is at 81 Rundle Mall.
<img alt="rundlemarch27two" height="298" width="470" src="/images/stories/2013/03/rundlemarch27two.jpg">
It will boast some retail firsts for Adelaide including  <a href="https://www.propertyobserver.com.au/retail/rundle-place-secures-canadian-fashion-tenants/2012120258220" target="_blank">three Canadian retailers</a> as well as Ted Baker, Seduce, Peter Jackson and Vince Camuto stores.
 
<hr class="system-pagebreak">
It will also feature a flagship Harris Scarfe store, a Coles supermarket as anchor tenant, along with a mix of other retailers and a 500-seat food court.
<a target="_blank" href="https://www.propertyobserver.com.au/trends/cbre-embraces-flexible-working-space-in-sydney-office/2013031259832">CBRE</a> reported Rundle Place as being 95% leased late last year, but warned that the Adelaide CBD was likely to see an increase in the vacancy rate during the first half of 2013.
<img alt="rundlemarch27three" height="311" width="470" src="/images/stories/2013/03/rundlemarch27three.jpg">
"There are two reasons for this. Firstly, that there are currently several sites which are being marketed for lease, but are still occupied by the current tenant and they are likely to vacate in the first half of 2013," CBRE says.
"Secondly, there are several tenants which currently occupy space on Rundle Mall which will move to the new accommodation in the Rundle Place development when it is completed in March 2013.
"This is likely to result in very limited growth in rentals in the CBD and depending on how much vacancy eventuates and there will be a increase in the incentives landlords will need to offer to attract a tenant."
CBRE reported Rundle Mall, Adelaide's prime retail strip, as having a vacancy rate 5.3% in October 2012. The vacancy rate had increased from 3.11% in June 2012.
<img alt="rundlemarch27four" height="318" width="470" src="/images/stories/2013/03/rundlemarch27four.jpg">
Rundle Mall is anchored by Myer and David Jones and is located between Pulteney Street and King William Street.
The Myer Centre includes a 35,000-square-metre Myer store as well as 105 specialty shops and the Adelaide Central Plaza houses David Jones and 43 specialty retails.
Annual rents in Rundle Mall range from $2,400 per square metre to $4,000 per square metre, according to CBRE.
The vacancy rate in more affordable Rundle Street remains relatively low, having decreased to 1.94% in February 2013 from 2.91% in the second half of 2012.
Rundle Street, the fashion and food precinct, located between East Terrace and Pulteney Street, is anchored by a two-level Target store and Rundle Street East boasts designer stores such as Sass and Bide, Marcs and Lisa Ho.
Annual rents on Rundle Street range from $400 to $1,200 per square metre.
 
 
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