Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

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

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

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Macquarie Park is set to get its first CBD-quality office building with the launch of John Holland’s Macquarie Square development.
The development precinct will launch a new standard for Macquarie Park, creating 117,071 sqm of office space across five buildings, with a new 7,000 sqm public park at its heart. 
Designed to blend work, lifestyle and recreational activities, the development will also feature retail, premium dining, bars, event spaces, a gym and activated public spaces.
John Holland CEO Joe Barr said the launch of Macquarie Square marked a milestone in the company’s history as an integrated property and infrastructure leader.
“We are the owner, developer and builder of this iconic new precinct, and we are excited to show off this modern marketplace for Sydney,” Mr Barr.
“Thanks to the delivery of another John Holland project, Sydney Metro Northwest, Macquarie Park is more accessible than ever before.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/25/WaterlooRd_View1_REV-B-Less%20logos.jpg" alt="">
Executive General Manager Development &amp; Investments Tom Roche said Macquarie Square presented a huge opportunity for Sydney’s second-largest CBD.
“Macquarie Square is a two-minute walk to Sydney Metro, and will integrate public space, co-working areas, a curated CBD style retail offering, active transport and premium end-of-trip facilities,” Mr Roche said.
“Arriving to market hot on the heels of the record sale of 275 George St, Macquarie Square is an exciting addition to John Holland’s integrated market offering.”
Stage one of the development includes 25,000sqm NLA pre-commitment from the NSW Government.
 The initial building, the Glasshouse, will be complete in March 2020.
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j.ballantyne1990-6AQqhLzZaK

John Holland’s Macquarie Square development launched

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Institutional investors are chasing logistic and warehouse opportunities in Brisbane with the sector recording an estimate of $230 million in sales in Q1 this year (for properties above $5 million). Portfolio sales that were an equity buyout made up an estimated $106 million of this total.  
Rise of e-commerce, logistics and warehousing activity are influencing investors to increase their exposure in the industrial markets across Australia. 
“Investment into the industrial sector has started off strongly this year, with indicative figures showing an increase of 135 per cent on Q1 last year, when sales totalled $98 million, and $27 million was attributed to portfolio sales,” said Simon Beirne, Queensland Chief Executive at Colliers International.  
“Institutional investors are dominating, making up about 74 per cent of the sales, with most of the activity occurring in the greater Brisbane south and south west regions.  
“Strong investor demand and limited available assets have led to further increase in prices and tightening yields across the board, with average prime grade yields sharpening for eight consecutive years and average secondary grade yields tightening for a sixth consecutive year,” said Mr Beirne. 
The highest settled industrial sale in Queensland so far this year was a portfolio of two significant industrial assets in Acacia Ridge which were sold to a Sydney based private investor for $42.08m. 
The subject properties are 134-160 Ingram Road and 220-240 Bradman Street and span a total of 10.3ha of general industry land.
They are occupied by Austube Mills Pty Ltd and Onesteel Reinforcing Pty Ltd on long term leases. Both companies were acquired by GFG Alliance, an international group of businesses, founded and owned by the British Gupta Family. 
The offering was sold via an Expression of Interest campaign marketed by Simon Beirne and Matthew Frazer-Ryan from Colliers International and Tony Iuliano and Gary Hyland from JLL, on behalf of KordaMentha. 
As per the latest research from the Industrial Research and Forecast Report, prime grade yields have tightened in the range of 25bp to 50bp for the past 12 months, to an average of 6.07 per cent as at March 2019.
Lower yields have driven an annual average increase in capital values of 9 per cent to $1,799 per sqm as at March 2019. 
In the secondary market, average yields have compressed 47bp for the YoY to March 2019, to 7.65 per cent. Consequently, annual average capital values for secondary assets have increased by 2.7 per cent, to $1,073 per sqm.
The extent of the capital value increase for secondary assets was limited by a modest fall in rents recorded in the North and South West precincts.
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Institutional investors dominate Brisbane’s industrial market

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Global Industrial will relocate its Sydney manufacturing/distribution facility to Prestons, an industrial hub in the city’s south-west. 
Located at 40 Lyn Parade, the property comprises a quality freestanding industrial warehouse spanning 3,112sqm with large canopy.
The property features modern office space and amenities with internal clearances of up to 10.5 metres. 
CBRE’s Adam Tresidder, Fabio Screpis, John Tsoutsa and Elijah Shakir negotiated the five-year lease deal for an initial rental of $128 per square metre (net). 
Mr Tresidder said the property’s quality offering and location were key to the deal. 
“With great linkages to the M7 and M5 motorways, this property represented an outstanding opportunity to secure a footprint in a key industrial market,” Mr Tresidder explained.
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Global Industrial sets up shop in Sydney’s Prestons

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Fiji’s newest five-star luxury resort, situated on the beachfront of Wailoaloa Beach near Nadi, is being offered to the market for the first time. 
Colliers International in conjunction with the local agents My Fiji Home has been appointed to sell the Pullman Nadi Bay Resort and Spa Fiji by way of an international expressions of interest campaign. 
The marquee resort boasts 236 guest rooms, five restaurants and bars, multiple conference facilities, three swimming pools and a world-class health spa. 
Pullman Nadi Bay opened in May 2019, in time for the busy Fijian winter period, and is managed by global hotel operator Accor Hospitality – the largest operator in Asia Pacific.  
Nestled on 5.7ha of prime beachfront land, on the foreshore of Wailoaloa Beach, it is the closest five-star hotel to the recently upgraded Nadi International Airport.  
Dean Humphries, Colliers’ National Director of Hotels for New Zealand and the South Pacific, acknowledges it is rare for a brand-new resort be offered to the market so soon after opening. 
“The owners of the resort, who are a large and established Fiji-based family, have spent the last four years developing the hotel. However, they have decided to sell this marquee asset now to capitalise on Fiji’s strong tourism sector and a global investment market hungry for high-quality, high-yielding hospitality assets.” 
“Fiji has seen stable governance now for 15 years, with the last democratic elections taking place in November 2018. Economic growth over the period has been strong with a significant amount of infrastructure completed including a FJ$100m plus upgrade of the Nadi International Airport.” 
“We have seen an increasing amount of global capital flow through to the tourism sector in recent years given its attractive returns and strong growth profile.”  
Richard Kirke, International Sales Director of Colliers International’s Capitals Markets team, is confident a large number of international investors will be attracted to investing in Fiji due to the strong growth profile and attractive underlying returns this country offers.  
“In the recent past we have seen a range of institutions, sovereign wealth and private equity funds investing heavily into tourism hotspots such as Maldives, Thailand, Vietnam, Tahiti and the eastern seaboard of Australia.” 
“Fiji as a prime tourism destination ticks all the boxes and is a country we believe will interest many of these parties.” 
Gus Moors, Head of Hotels for Colliers International Australia, says Fiji also has a highly attractive exchange rate at just 0.46 against the USD and 0.66 AUD.  
“Fiji has always been the star performer in the South Pacific basin, accounting for 41% of all international visitors in the region.”  
“Inbound arrivals for the year ending 2018 reached 870,000, representing an annual growth rate of 5.6% since 2014. The key markets segments are Australians (43 per cent), New Zealanders (22 per cent) and the United States (10 per cent). It is forecast Fiji will reach 1 million international tourists by 2023. The Fijian Government has estimated the tourism industry to be a FJ$2 billion industry by the end of 2020.” 
The hotel is being sold through Colliers International and local agents My Island Home Fiji by way of international expressions of interest closing at 4pm (NZST) on Wednesday 31 July.
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Five-star Pullman Nadi Bay resort in Fiji listed for sale

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EG, one of Australia’s leading commercial real estate fund managers, draws the Core Plus Fund (CPF1) to a close with the successful sale of North West Plaza, Everton Park QLD.
EG’s CPF1 was initiated in 2014 with a total gross acquisition asset value of $231 million across 7 assets over a 3-year acquisition horizon. 
The Fund consisted of Sydney, Melbourne and Brisbane office, industrial and retail real estate assets which had the potential for uplift via strategic capital works and active asset management initiatives.
“We are incredibly happy with the performance of CPF1. The Fund has vindicated the investment strategy of identifying and acquiring assets which disproportionally benefit from repositioning while also ensuring strong underlying cash-flows on limited downside risk” Divisional Director, Daniel Farley said.
Assets within this portfolio also included office properties 92 Pitt Street Sydney, 277 William Street Melbourne and 223 Liverpool St, Darlinghurst.
 The Fund will deliver net returns to investors of well over 20% EIRR.
The final disposal for the Fund was Brisbane neighbourhood shopping centre, North West Plaza, (pictured above) which has transacted at $42.5 million in June 2019. 
The successor fund, EG’s Australian Core Enhanced Fund (EG ACE) has completed its first close of $500 million and is open for further investment for the next 12 months.
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EG successfully close Core Plus Fund No.1 after Everton Park sale

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Centuria Property Funds Limited (Centuria) has sold 19 Corporate Drive in Cannon Hill, an A-grade office building in Brisbane’s inner city, for $36.95 million following a campaign that generated strong buyer interest.
Sydney-based syndicator Aviator Capital was the successful buyer. It was Aviator’s third acquisition within the Brisbane market.
Completed in 2008, the two-level commercial building comprises 6,028 sqm of A-grade office accommodation strategically positioned six kilometres from the Brisbane CBD in the tightly-held Southgate Corporate Park.
“The property was originally purchased in December 2012 for $23.30 million and the Fund’s investment rationale since commencement was to provide investors with stable, high yielding and diversified income returns from a quality commercial office property situated in one of Brisbane’s most prominent growth corridors," Head of Real Estate and Funds Management, Jason Huljich said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/13/cannon%20hill%202.jpg" alt="">
“The gross sale price achieved was approximately $5.1 million or 17% in excess of the December 2018 valuation, which is an outstanding result for the Fund.
“In addition, the Fund has yielded an average income return to investors of approximately 10.3% p.a. over the six and a half years.
“This is an excellent result for all investors in the fund,” Huljich said.
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The sale was negotiated by Matt Barker, Justin Bond and Christian Sandstrom of Knight Frank, along with Anthony Ott and Peter Chapple of Savills.
 
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Centuria sells 19 Corporate Drive, Brisbane for $37 million

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Land values across all Brisbane industrial precincts have trended upwards for the past three years, with the average land value increasing 5.3% to $310 per sqm, for the YoY to March 2019. 
As per the latest Colliers International Industrial Research and Forecast Report, Australia Tradecoast (ATC) experienced the strongest growth in land values for the YoY to March 2019, increasing by 9.9% to an average price of $390 per sqm, from $355 per sqm in March 2018. 
“We anticipate that the limited new development supply will continue putting upward pressure on rents in ATC over the next few years,” said Matthew Frazer-Ryan, National Director, Industrial at Colliers International. 
“As at March 2019, average prime grade net face rents are $118 per sqm, the highest out of any other precinct. 
“Average incentives fell by 1.5% to 12.5% for the YoY to March 2019, which usually is a sign of future rental growth for prime grade assets.” 
<a href="https://www.propertyobserver.com.au/images/2019/5/21/brisbane%20industrial%20.jpg" target="_blank">Click here</a> to enlarge:
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Karina Salas, Research Manager at Colliers International said they anticipate Brisbane’s industrial land values will continue to rise over the medium term. 
“This is due to the current and forecast value proposition of the investment achieving solid yield spreads compared to Sydney and Melbourne, of up to 170bp in some instances, and the significant infrastructure investment program under construction in South East Queensland. 
“According to the Brisbane City Council Industrial Strategy 2019, industrial land in the outer Brisbane regions remain under pressure from encroaching residential and other non-industrial uses and has been reduced by 10 per cent in the last five years (2 million sqm of industrial gross floor area). 
“The rezoning of industrial areas is becoming an issue worldwide as population growth continues putting pressure on land availability to meet housing demand and encroaching into industrial-use land. 
“Demand in the Brisbane industrial market continues to transition from traditional manufacturing industrial use to transport and logistics, retail warehousing and mixed industry business precincts. Ecommerce and online retail activity is changing the way the industrial market operates in Australia and Brisbane is not isolated to this trend,” said Mrs Salas.
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Brisbane industrial land values heading north

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Billionaire Lindsay Fox has bought another commercial holding in Sorrento on Victoria's Mornington Peninsula.
The Fox family have paid $3 million for a 1,660 sqm fringe land holding at 856 Melbourne Road (above).
Currently on the land are two 1920s built homes.
It it's likely given its location one street back from the main shopping strip on Ocean Beach Road, that it will be developed into commercial premises.
One of the homes was known as Mayfair. They were sold as a tenanted investment, according to the Commercial Real Estate website.
The site sits along the road from where Fox owns a 4000 square metre site on the corner of Melbourne Road and Ossett Street, the busy roundabout at the far end of the retail strip.
Running from 839-843 Melbourne Road and on Ossett Street, Fox acquired it for $4.1 million in December 2015, settling October 2016.
CBRE secured the recent sale which was bought by a family run company Fox Shelf No 1 Pty Ltd.
The Fox family have their weekender compound at Portsea, a 16,000 sqm compound on the cliffs.
The most recent retail sale within the Sorrento township was $4.07 million for 54-56 Ocean Beach Road, the Sportsgirl premises - $1 million above reserve.
Investment company, developer and retirement living specialist Knowles Group bought the premises, paying more than $22,000 a square metre — a record for the popular coastal shopping strip. It is headed by Melbourne socialite Coral Knowles, the wife of John Knowles.
The Country Road concept store fetched $7.125 million in 2018 when the former Post and Telegraph office and postmaster’s quarters was sold. 
The 10-16 Ocean Beach Rd property on 750sq m had been expected to sell for over $6 million.
The vendor, former Rothschild Australia chairman Peter Griffin, paid $2.53 million in 2013 for the property.
It is currently leased until 2022 with two further five-year options available.
It sold to Anna Maria and Giuseppe Pollio.
In 2016, the Mitre 10 hardware store at 80-98 Ocean Beach sold for $11.47 million to Melbourne property developer Colin DeLutis on a yield of 0.4 percent.
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Billionaire Lindsay Fox buys another commercial holding in Sorrento

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Vaughan Constructions has won the contract to build Australia’s largest distribution centre for key German supermarket player Kaufland.
The Melbourne facility will have more than 117,000 sqm of building area and will be built over two stages.
Stage one will comprise 98,700 sqm of building area and 107,210 sqm of concrete hardstand, along with 168 recessed loading docks and substantial temperature control areas.
The facility has a total projected investment of $255 million and will create 600 new jobs in Mickleham, around 30 kilometres north of the Melbourne CBD.
"Kaufland were very mindful that the European climate, construction and building materials can be very different than those in Australia and were thus keen to partner with a builder with a sound track record in delivering quality facilities along with the requisite experience building state-of-the-art temperature control areas,’’ Vaughan’s senior development manager Chris Telley said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/26/Kaufland%20Victoria%20.jpg" alt=""> Source: www.kaufland.com.au
He said a detailed Early Contractor Involvement (ECI) process had assisted in delivering substantial savings and design improvements for Kaufland.
"Our team worked very closely with the Kaufland team to overcome key supply chain issues and meet strict budget expectations.
"Through the ECI we were able to jointly explore a number of design options and put in place a detailed value management process,’’ Telley said.
The buildings will sit next to the Vaughan Constructions-built award-winning Dulux paint manufacturing facility next door.
Vaughan have previously built complexes for Aldi, Coca Cola, Coles, PFD, Kraft, Made Group, Ferguson Plarre, and Murray Goulburn.
In March Kaufland Australia announced the approval of it’s first three stores in Victoria in Dandenong, Epping and Chirnside Park.
Kaufland Australia has also received planning approval for two sites in South Australia.
 
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jrobinson-rf4aSBido9

Vaughan Constructions to build Australia’s largest distribution centre for German supermarket giant Kaufland

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Multiplex, a global construction company, has completed restoration and refurbishment works on Trades Hall &amp; Literary Institute’s Trades Hall Living Heritage Project, funded by the State Government of Victoria.
The historic three level Trades Hall building in Victoria Street, Carlton. Victoria’s Trades Hall is Australia’s oldest and largest trades hall.
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It was constructed in 10 stages with the most significant occurring between 1876 to 1925 and is a prominent Carlton landmark that serves as a hub for union organisation.
The Trades Hall Living Heritage Project was led by architect and heritage consultant Lovell Chen, and focused on conservation works and refurbishment for the main public spaces in the 3,800 sqm heritage-listed building.
Works included the refurbishment to the New Council Chamber and building services upgrades. 
The also refurbishment included the specialist restoration of several of the main interiors, including the Old Council Chamber and the New and Old Ballrooms.
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The Old Council Chamber officially opened in 1884 and the original 1880's decorative scheme, including significant portraits and elaborate wall treatments, is the work of prominent decorators of the period, C.S. Paterson Brothers.
Works to the New Council Chamber included the recreation of the original footprint resulting in 300 seat auditorium with restored honor boards and murals that had been covered during previous renovations.
The project also saw the construction of modern amenities facilities and a new lift to improve access throughout the building and deliver access to all new areas.
Work commenced in April, 2018 and according to Multiplex 550 people worked on site during construction.
This was one of the first major building projects to benefit from the Government’s Living Heritage Grants Program.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/26/Tradeshall.jpg" alt="">
The grant funding financed the refurbishment project plus essential conservation and activation works such as roofing works and repairs to the Lygon Street portico.
Multiplex recently delivered the Australian Nursing and Midwifery Federation’s (ANMF) multi-million mixed-use commercial development, located at 535 Elizabeth Street in Melbourne’s CBD.
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