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>
Department store giant David Jones may look to redevelop its flagship department stores in the Sydney and Melbourne CBDs as it reported a 13.5% decline in interim profits.
<a href="/companies/david-jones" target="_blank">David Jones</a> reported a company-wide profit after tax of $73.5 million for the six months to January 26 compared with $85 million in the same period in 2012.
Leasing and occupancy costs increased from $93.3 million in 2012 to $95.6 million in 2013 over the six month period.
“In 2012 independent property consultant Cushman &amp; Wakefield concluded that the potential worth of the company’s Sydney and Melbourne flagship CBD store properties (on an existing use basis) was $612 million,” said David Jones in its half-year results announcement.
The flagship stores are the two Sydney stores on Elizabeth Street and Market Street in Sydney - the former being the very first David Jones store, which opened in 1927 - and the Melbourne store on Bourke Street Mall.
“The company is continuing to explore options to unlock the development value of these assets, whilst retaining ownership of its retail trading space.
“Priority has been given to the two Sydney sites as it felt these have the greatest potential.
“CB Richard Ellis has been appointed to advise the company on maximising the value of these assets.
“This remains a significant opportunity for the company however it is complex and will take time.”
The Australian Financial Review speculated this could mean adding "airspace" above its Sydney stores with "20 storeys to its Market Street store and perhaps five stories on Elizabeth Street where development is restricted because it could overshadow Hyde Park".
The extra storeys would be turned into hotels and apartments.
As part of interim results briefing, David Jones said it would continue to focus on its omni channel retailing (OCR) strategy, which includes emphasis on online sales.
Online sales increased 288% in the second quarter of 2013 following the launch of the David Jones web store in mid-2012.
David Jones chief executive Paul Zahra also highlighted that the company would examine its store portfolio in light of its broader omni channel retailing strategy and with six store leases in “less robust demographic locations:” set to expire in the next five years.
Stores in <a target="_blank" href="/news">Bondi Junction</a> and Canberra Centre will be refurbished over the next 12 months while the company will also focus on improving the productivity of stores with a target of lifting its average proportion of selling space compared to gross lettable area from a current 76% across the store portfolio to 85%.
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David Jones considers development of flagship Sydney and Melbourne stores

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A ground floor shop with an upstairs dwelling has sold at auction on Burke Road, Camberwell, for $2.11 million – $360,000 above the reserve price. 
The sale was closed by Fitzroys director Chris Kombi, with the price reflecting a yield of 4.1%.
The <a href="https://www.commercialrealestate.com.au/property/2010256689/for-sale/vic/camberwell/retail" target="_blank">two-storey brick building</a> is approximately 168 square metres and is situated on a 184-square-metre lot.
<img alt="camberwellmarch20one" height="305" width="470" src="/images/stories/2013/03/camberwellmarch20one.jpg">
The ground floor – with a 5.5-metre frontage to Burke Road – is occupied by New Zealand-owned brand Ziera Shoes on a five-year term from October 2011.
There is separate access to the first level, which features an un-renovated two-bedroom residence.
Kombi says there was heavy interest throughout the campaign and a large <a target="_blank" href="/news">auction</a> crowd on the day.
He says the strong sale price was further proof of improving sentiment among buyers.
The property is currently returning $88,484 per annum plus outgoings and GST.
Burke Road, <a href="/news">Camberwell</a>, boasts an array of Australian retailers including Sportsgirl, Witchery, Sussan and Just Jeans.
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Two-storey Burke Road Camberwell property sells for $360,000 above reserve

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It may be popular to say that first-home buyer incentives don’t work or are inflationary but it’s simply not supported by the data in Victoria.

Not only is this not supported by the data but it is also a position which, from a policy perspective, is inequitable for one simple reason: stamp duty.
The REIV believes that <a target="_blank" href="http:/www.propertyobserver.com.au/first-home-buyers/first-home-buyer-grant-schemes-simply-don-t-work-terry-ryder">first-home buyers</a> deserve a better deal from governments because they have to compete with second- and third-home buyers who enter the market with equity built in earlier transactions. This would be less of an issue if not for stamp duty.
There is no rational reason why a first-home buyer should be subject to a wealth tax such as stamp duty to the same level as someone who has actually generated personal wealth from property.
How is a first-home buyer supposed to compete with other buyers? They have to save for a considerable amount of time to build the deposit, only to see it evaporate when they receive their stamp duty bill.
This is a far more significant issue than the standard debate about affordability for first-home buyers suggests. It is concerning that many who argue for more affordable property don’t also argue for lower wealth taxes on first-home buyers.
The First Home Buyers Grant, now a paltry $7,000 (the equivalent of one 25 point cut in interest rates), pales into insignificance against most stamp duty bills in Australia. Despite that fact, many commentators and organizations take pride in arguing against this form of assistance.
While governments continue to levy large stamp duty bills this is no more than an argument for wealth taxes on those who don’t have any. This position is supported by the findings in the report on Housing Supply and Affordability Reform by the Supply and Affordability Reform (HSAR) Working Party of COAG.
In its report, it found that “the FHOG does provide some help to potential first homebuyers in competing against existing homeowners, who have typically benefitted from capital gains from previous property price growth”.
In the Victorian context, there is plenty of evidence of incentives for first-home buyers being both equitable and delivering on their aims.
The first example is the First Home Owners Bonus, or builder’s bonus as it became known. When the Global Financial Crisis hit Victoria, it had a growing population that was not matched with an increase in supply. The National Housing Supply Council pointed to a supply shortfall which was translating into rapidly increasing prices.
In response, governments responded with significant grants – up to $36,500 for a new home in regional Victoria – to both increase activity in the housing market and, more pointedly, get the builders building more homes.
This policy was also part of the stimulus package aimed at generating employment for builders and related trades.
It worked. First-home buyers flocked to the market and the builders built more homes. The increased incentives came into effect on October 14, 2008 and within 12 months the number of first-home buyers in Victoria increased from 2,420 a month to 4,448. Over the last decade first home buyers have comprised 20% of all buyers; this share increased by 50% with targeted government incentives.  Those incentives achieved their aim by increasing the construction of new dwellings and addressing the supply shortfall.
These incentives also seemed to transcend politics as they were commenced under a Labor government, continued by a Coalition one and then, when they were clearly no longer needed, ended.
All home buyers benefited because housing became more affordable as there was less of an imbalance between supply and demand.
So much for suggestions that the incentives don’t work.
The second example is of the cuts to stamp duty in Victoria.
The REIV campaigned for cuts to stamp duty for all first-home buyers because we believe that it is, firstly, unfair to tax first home buyers’ precious deposits, and secondly, inefficient for governments to take with one hand and give with the other. This should not be taken as a lack of support for the grant; first-home buyers need all the help they can get and the moves by NSW, Queensland and South Australia will only make it harder for first home buyers.
As a result of our advocacy and support from the Victorian Government, by the 15th of September next year most first-home buyers will benefit from a 50% cut to stamp duty. Depending on the home you are buying, that is effectively a doubling of the $7,000 grant. This assistance has not had an immediate noticeable impact on the market nor did the REIV ever expect it to; after all it has been progressively introduced, rising from 20% in 2012 to 50% in 2014.
It may not have had the immediate impact of the builders’ bonuses but that was never the point. It was simply to reduce the inequities faced by first home buyers trying to get a start in the market. If this sort of policy is not more widely adopted, then governments are saying that they are happy for first-home buyers to spend years saving to pay a tax.
How does that help anyone?
Robert Larocca is Real Estate Institute of Victoria (<a target="_blank" href="https://www.reiv.com.au/">REIV</a>) policy and public affairs manager
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Why should first home buyers spend years saving to pay stamp duty? Robert Larocca

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One of the most important decisions to make when you buy an investment property is whether to appoint a professional property manager or manage the property yourself.

More than three quarters (77%) of landlords have their properties professionally managed by an agent, or have done so in the past, according to The Australian Landlords Panel 2012.
Both options needed to be carefully considered before making a final decision that is right for you.
Do-it-yourself property management can appeal to some investors, who may see it as an easy way to save money.
However, managing an investment property involves a time commitment that can significantly outweigh the cost.
Self-managing landlords will need to find the time to screen tenants, conduct regular property inspections, ensure rent is being paid on time and be ‘on call’ to attend to maintenance issues.
Landlords who fall behind in these tasks may find themselves in hot water. For example, if a tenant is damaging the property and regular inspections are not held, the landlord could be faced with mounting repair bills.
Likewise, if maintenance issues aren’t attended to promptly and the tenant injures themselves as a result, the landlord could find themselves exposed to a costly legal liability claim.
The Australian Landlords Panel 2012 study revealed that landlords received higher rental yields and profits when a property manager was used, and that they generally had better investment experiences.
Property managers can provide landlords with risk management benefits and potentially minimise loss for the landlord if an issue arose.
Property managers are able to conduct regular property inspections to identify maintenance issues, ensure the tenant is looking after the property and, if required, liaise with appropriate tradespeople as soon as possible to address any problems.
They also have systems and processes in place to find and screen prospective tenants, and have access to databases that list tenants with a history of defaulting on rental payments, damaging property and eviction.
Property managers can ensure the correct paperwork is in place, collect the rent, monitor arrears, form a professional relationship with the tenant and regularly liaise with them.
If a dispute arises with the tenant, they will be familiar with the relevant legislation and are therefore able to follow the correct procedures to help resolve the problem as quickly as possible.
For example, if a tenant falls behind in their rent, a property manager can ensure the proper notices are issued to the tenant within the required timeframes.
This is helpful if the dispute ends up in court and, if the landlord has landlord insurance in place, can also assist with the payment of loss of rent claims.
Regardless of what option property investors chose, a specialised form of landlord insurance was a must."Landlord insurance is designed to help protect investors from many of the risks associated with owning a rental property.
These include malicious damage by tenants, accidental damage, legal liability and loss of rental income if a tenant absconds or leaves a property unable to be re-let while damage is repaired.
It can also provide peace of mind if the unforeseen should occur, as well as ease a landlord’s concerns about receiving regular rental payments.
Even the most fastidious tenant is able to damage a property, whether accidental or otherwise.
This can be extremely costly for the landlord in terms of repairs and the loss of rental income.
The Australian Landlords Panel 2012 study found that 81% of landlords who employ a professional property manager had landlord insurance cover. However, only 54% of landlords who self manage their properties had a landlord insurance policy.
Uninsured landlords really need to think about how they would manage financially if they were faced with thousands of dollars worth of damage to their rental property, or were unable to re-let their property while repairs were being made.
Carolyn Majda is insurance manager at <a target="_blank" href="https://terrischeer.com.au/">Terri Scheer</a>
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Should you manage your own investment property? Carolyn Majda

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The premises of a brothel formerly owned by bankrupted Gold Coast entrepreneur Ken Lacey have been listed for April 3 auction.
The <a href="https://www.commercialrealestate.com.au/property/2010324947/for-sale/nsw/chinderah/industrial-warehouse" target="_blank">31-33 Morton Street, Chinderah</a>, property is near <a href="/news">Tweed Heads</a> on the far north coast of NSW.
The listing includes photos of the entertainment area complete with pole-dancing space as well as of the bedrooms, one of which has a jacuzzi and tiger print pillows.
{yoogallery src=[images/stories/2013/03/march20lacey]}
The vacant property comprises a 568-square-metre two-level building, which has current approval for a 24-hour brothel formerly known as Lacey’s Club Lace bordello.
The listing of the brothel made front page news in the <a href="https://www.goldcoast.com.au/article/2013/03/20/448963_gold-coast-news" target="_blank">Gold Coast Bulletin</a> today after one of Ken Lacey's sons  - Jade Lacey - had his current prison sentence extended by two years.  Another son - Dionne Lacey - is also serving a long jail sentence.
Sam Johnson and James Shugg of Ray White Commercial Coolangatta/Tweed Heads have the listing.
Johnson tells Property Observer, the property offers investors net yields of around 8% to 10%.
"We've received 11 serious enquiries and had a 127 hits on the website, so there's good interest in the property," he says.
Johnson says the property would appeal to investors or developers who might also be interested in running the brothel, which is currently vacant.
Development approval to expand the existing facilities with 19 industrial units expired in January, but could be easily renewed, he says.
“The approved brothel has recently undergone a complete refurbishment,” Johnson says.
“This was a high-class brothel which the former milk magnate Ken Lacey had originally purchased as an inheritance for his sons Jade and Dionne, who are presently serving prison sentences for a number of offences.
“Ken has withdrawn from the sex industry and the property will be sold vacant.
“The property certainly has a colourful history as a previous owner of the brothel Victor Elliott was gunned down there in a contract killing in 2000.”
Shugg says the total land area of the property was 4,093 sqm and there was potential gross rental income of $180,000 per annum.
“The property also includes two large 200-square-metre warehouses with an attached 85-square-metre office,” he said.
“There’s an additional 2000-square-metre of hardstand with approval for 19 industrial units.”
Last September, Property Observer reported on a brothel in the outer Melbourne suburb of Campbellfield which had $3 million price hopes but was <a href="https://www.propertyobserver.com.au/leisure/campbellfield-brothel-fails-to-perform-at-auction-and-passed-in-at-%2428-million/2012092856879" target="_blank">passed in at auction</a>.
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Former Ken Lacey Tweed Heads brothel premises with pole dancing space listed for April auction

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News that Myer has been successful in renegotiating rental agreements for some of its department store leases has re-ignited debate about the balance of power between shopping centre landlords and retail tenants.
In better-than-anticipated half-year results released last week, <a target="_blank" href="https://www.propertyobserver.com.au/retail/myer-and-david-jones-need-to-pull-their-weight-shopping-centre-council-of-australia/2013031359871">Myer confirmed that "proactive lease negotiations"</a> had yielded results amid reports that it and fellow department store giant David Jones would consider closing more stores if rents were not reduced.
Last week, David Jones opened its latest store in the redeveloped <a target="_blank" href="https://www.propertyobserver.com.au/retail/zara-opens-in-melbournes-highpoint-mall-as-amancio-ortegas-wealth-hits-%2457-billion/2013031359801">Highpoint Shopping Centre in Maribyrnong</a> alongside global retailer Top Shop, with Zara opening its outlet this week.
Shopping Centre Council of Australia executive director Milton Cockburn hit back saying department stores hadn't been pulling their weight in attracting foot traffic to shopping centres in the way anchor tenants are supposed to do.
The latest Sitting Tenant Renewal Report prepared by consultants Leasing Information Services (LIS) reveals that its not just the likes of Coles, Woolworths, David Jones and Myer that have bargaining power when it comes to lease renewals.
Shoe retailer Hype DC managed to secure a 40% discount on its Westfield Bondi Junction lease when it negotiated its renewal in September 2011.
The reduction in annual rent from $340,000 to $200,000 a year was for its 86 square metre shop in the Sydney Eastern suburbs mall.
According Peter Pitt, a director of Hype DC, the retailer was paying “way above market rent” in its previous tenancy agreement with Westfield.
“It’s one of the few mistakes we’ve made in leasing over the years,” he tells Property Observer.
When the Bondi Junction store came up for renewal, Pitt said they negotiated the discount on the basis that they would leave unless Westfield agreed to lower their rent.
“They understood that the market is the market” says Pitt of Westfield, who he describes as a “very professional landlord”.
The substantial discount highlights the challenges faced by smaller retailers and the importance of finding out what other retailers are paying for an equivalent space.
Pitt said they were able to compare what other tenant were paying using information provided by LIS.
Tenants can also access leasing information from the NSW leasing register. All leases of three years or more are required to be registered.
Hype DC also secured a 44% discount off its shop lease in the Westfield <a href="/news">Chatswood</a> on Sydney's north shore.
Pitt says this reduction was due to relocating to a smaller shop in the mall and was around the same rate per square metre that it was previously paying on its bigger shop.
Hype DC operates 17 stores across NSW, 13 in Victoria, 10 in Queensland and one each in Perth and Adelaide.
Data from the LIS report suggests the trend whereby Queensland shopping centres are retaining tenants at higher rates, whereas NSW is fairly stagnant.</body></html>

David can slay Goliath with retail lease discounts of 40% possible

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Woman have edged in front of men when it comes to Australian home ownership, according to figures compiled by the ABS from 2011 census data.

The data shows that 61% of women own their own homes compared with 58% of men who have embraced the great Aussie dream.
The gap is even wider among singles, with 65% of single-female households owning their own home compared with 55% of single-male households, the ABS figures obtained by the Herald Sun reveal. 
This has led to changes in the way estate agents are marketing properties given the rise in home ownership among the fairer sex. 
<a target="_blank" href="/news">Ferntree Gully</a> real estate agent Billy Schroeder told Property Observer that more vendors are staging properties as a result. 
“It’s more like a display. Especially in the kitchen, a lot more people are baking cakes and burning candles,” he said. 
The release of the ABS data comes as a new survey found that the kitchen was the most important room for all prospective homebuyers, but especially so for women.
Nearly 49% of 612 prospective homebuyers surveyed online by mortgage broker Loan Market picked the kitchen as the most important  room when attending an open home inspection.
Around 59% of female respondents picking the kitchen as their most important room in the house compared with 37% of men.
Conversely and not surprisingly, 56% of men picked the living room as their most important room in the house compared with just under a quarter of women.
Schroeder said female property buyers are distinctly different to male buyers, as they are “a little bit emotionally attached.”
He also noted that female buyers tend to focus more on the kitchen and outdoor entertaining areas, while male buyers tend to gravitate towards the living area – as highlighted in the survey.
Loan Market spokesperson Paul Smith says the results of the survey shed some important insight into the <a target="_blank" href="https://www.propertyobserver.com.au/western-australia/perth-s-housing-market-is-reacting-to-pent-up-demand-david-airey/2013031359851">real estate market</a> as buying activity accelerates into autumn and as auction clearance rates continue their strong results.

“We’re seeing a steady stream of confidence return to the real estate and home finance market and with lots of great stock on the market buyers are going to be very selective on the properties they inspect,” Smith says.

Smith says many buyers wouldn't necessarily be assessing a property on its existing fixtures and features but rather its scope for renovations and improvements.

“Often when a buyer shows interest in a property it’s because of the potential they see in certain rooms of the house or unit. Today’s buyers have become astute at assessing how much effort and additional money may be required to get the property to that point,” he says.

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Kitchen appeal: Women outnumber men in home-ownership stakes

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Yagoona, the first suburb in Australia to get a McDonald’s restaurant in 1971, was the top performing unit market in Sydney in 2012, according to the Real Estate Institute of NSW (REINSW)’s latest quarterly report.
Located 20 kilometres southwest of the CBD, unit prices in Yagoona increased 22.7% to a median of $400,000 over 2012.
This was from 84 sales over the past year.
The average increase for unit prices in Sydney from 2011 to 2012 was 3.8%.
Professionals Bankstown agent Ross Gravaris says a new development along the Hume Highway could have pushed the median unit price up.
Gravaris told Property Observer the area is popular among first home-buyers as well as investors, as properties often see good rental returns.
He also says that properties in Yagoona are generally quite affordable, with many young families purchasing properties there.
“One side of Yagoona is very affordable, while the other side closer to Bankstown is a bit expensive,” he said.
A three-bedroom unit at <a href="https://www.domain.com.au/Property/For-Sale/Townhouse/NSW/Yagoona/?adid=2009918233" target="_blank">26 Brunker Road</a> (pictured below) sold for $395,000 this month.
<img alt="yagoonamarch21one" height="283" width="470" src="/images/stories/2013/03/yagoonamarch21one.jpg">
It last sold for $167,500 in 1997, according to RP Data records.
Another recent sale was a two-bedroom apartment at 149 Auburn Road, which sold for $325,000 through Goldstar Partner Real Estate. It last sold for $284,000 in 2007.
Gravaris also noted that some buyers choose Yagoona as “Bankstown is a bit out of reach [in terms of prices]”.
Some areas of <a href="/news">Yagoona</a> are within walking distance to <a target="_blank" href="/news">Bankstown</a>, making it a popular choice amongst residents who enjoy the proximity to Bankstown without the extra price tag.
Gravaris cited Bankstown’s shopping and recreational facilities as a big draw for Yagoona residents. <a href="https://www.propertyobserver.com.au/retail/centro-buys-coffs-harbour-mall-from-syndicate-for-%24655-million/2013012358920" target="_blank">Centro</a> Bankstown is close by, while Bankstown Oval is a popular local sporting ground.
There are also a number of private and public schools in the area.
The 2011 Census showed that 18% of residents have a Lebanese background and 12.3% of residents have a Vietnamese background, indicating that Yagoona is a culturally diverse suburb.
Yagoona is also relatively accessible by public transport. Yagoona train station, situated next to Hume Highway, is part of the CityRail Bankstown line. A trip to Central Station in the Sydney CBD takes approximately 30 minutes.
The southwestern suburb of <a target="_blank" href="/news">Leumeah</a> experienced the second highest annual growth in unit prices with a rise of 15.7% to $248,000, followed by <a target="_blank" href="/news">Wentworthville</a> with a 11.8% increase in median unit prices to $369,000.
Sydney suburbs with an above-average increase were*:
<img alt="yagoonamarch21two" height="404" width="470" src="/images/stories/2013/03/yagoonamarch21two.jpg">
Source: REINSW
*Suburbs which recorded less than 50 sales for the year were not included.
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Yagoona is top Sydney unit suburb with 22.7% growth in 2012: REINSW

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Overall, people appear to have returned from their Christmas break with a renewed sense of confidence — certainly as far as commercial property is concerned.
In a recent article, I covered <a href="https://his-best.biz/commercial-property-looking-ahead/" target="_blank">the reasons for this change</a>.
However, investors are also being buoyed by the past two weeks of solid economic data, including a welcome boost to Australia's trade balance and retail turnover increasing by 0.9% during January.
And with the corporate reporting season now over, the stock market has provided the ultimate confirmation of things having bottomed out.
No longer are people concerned about falling property prices. Instead, there is a growing fear they may actually be missing the full benefit of the upswing.
The business of analysis
So let's get down to business and explore several questions you need to be asking — as part of analysing any properties you may be considering.
<ol>
<li>What net rental are they generating?</li>
<li>What does the sale price represent per square metre?</li>
<li>How do both these figures compare to market levels?</li>
<li>What would it cost (per square metre) to build the property today?</li>
</ol>
Forming a complete picture
In an earlier article, I gave you <a href="https://www.propertyobserver.com.au/commercial/how-you-can-find-the-best-deal-when-buying-a-commercial-investment-property-chris-lang/2013022059473" target="_blank">several simple ways to uncover a good deal</a>. However, these further four questions will help you gain an even better appreciation of what's needed to fully assess your potential acquisitions.
Establishing how much a property is worth occurs through comparison with other similar properties.
And in the absence of many years of study to become a qualified valuer, you now have a simple toolkit to use as part of your initial research.
For a more detailed final assessment you will still need to involve your trusted consultants (for legal, property, construction etc). But you are now more than capable of creating your own shortlist of potential starters.
Bottom line
What's important is for you to take action right away, if you have any plans at all to acquire commercial property.
Because otherwise, you will find yourself joining the mid-year rush — as the penny finally drops, and investors realise the upswing is already underway.
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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Don't miss the commercial property upswing: Chris Lang

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The Reserve Bank expects the housing construction sector to pick up further over 2013 alongside an improvement in buyer interest in some states, minutes of the March monetary policy meeting released today reveal.
At the March 5 meeting, the RBA decided to leave the cash rate unchanged at 3% as "global economic conditions continued to be more positive" and signs that "dwelling investment was growing and it was likely to continue to do so at a moderate pace in the period ahead".
The minutes record that members "observed that dwelling construction activity had picked up further in the December quarter".
“Forward-looking indicators such as building approvals pointed to further growth in construction in the months ahead.
“The increase in approvals had been geographically widespread and the Bank's liaison with builders also suggested there had been an improvement in buyer interest in some states.
“Overall, recent housing market developments pointed to a further moderate increase in dwelling construction in the period ahead," says the minutes.
The minutes also note continued high household savings rates and "borrowing restraint" while "households' net wealth had risen recently with the recovery in asset markets"
"Debt-servicing capacity had also been boosted by lower interest rates, which had helped to keep housing loan arrears and other aggregate measures of financial stress low, despite the unemployment rate recording a modest rise over the past year," say the minutes.
In attendance at the monetary policy meeting were RBA board members Glenn Stevens (chairman and governor), Philip Lowe (deputy governor), Martin Parkinson PSM (secretary to the Treasury), John Akehurst, Jillian Broadbent AO, Roger Corbett AO, John Edwards, Heather Ridout and Catherine Tanna.
Others present were Guy Debelle (assistant governor, financial markets), Malcolm Edey (assistant governor, financial system), Christopher Kent (assistant governor, economic), Jonathan Kearns (head, economic analysis department), Anthony Dickman (secretary) and Peter Stebbing (deputy secretary).
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