<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

[smartcode_project:default project_id=140747 project_image_fid=367540]

The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

[smartcode_project:default project_id=140747 project_image_fid=367529]

Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

[smartcode_project_cta:default project_id=140747]

Joel Robinson

Smith by Valli delivers a refined collection of luxury residences to Melbourne’s inner north

<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=365684]

Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=365687]

Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

[smartcode_project:default project_id=509 project_image_fid=365689]

The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

[smartcode_project_cta:default project_id=509]

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

[smartcode_project_cta:default project_id=146358]

MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

[smartcode_project_cta:default project_id=110588]

Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

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

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

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Ray White Marine, the largest full service marine brokerage in Australasia, has established a new office within the Royce-Rolls Motor Cars Showroom in Richmond.
CEO and founder Rick Rodwell said the business already had many existing luxury yacht clients in Melbourne, which was home to the highest number of megayacht owners (above 40m) in Australia, so the initiative will also provide local support for both these new and pre-owned brokerage vessel owners.
“Ray White Marine’s Melbourne office will provide the Victorian market with the first sales and service presence of a leading global euro luxury motor yacht brand as the exclusive Australian and New Zealand distributor for Ferretti Yachts, Pershing, and the iconic Riva marque. Other brands in the Ferretti Group include semi displacement and planing yachts from Custom Line, and the full custom superyacht from 45m to 90m built by the CRN shipyard,” Mr Rodwell said.
Ray White Marine is also appointed the Australian and New Zealand distributor for Technohull high performance bespoke RIBS.
The move will also expand the marine auction program to conduct events locally for buyers and sellers alike in consort with the more than 90 local offices in the Ray White real estate network in Victoria.
“Connoisseurs of high end luxury motor cars tend to be interested in luxury yachts, and vice versa, so it makes sense to form an association of this nature,” said Zagame Automotive founder and managing director, Bobby Zagame.
The Ferretti Group has announced the launch of the Riva 50m Megayacht hull #1.
Ray White Marine officially opens in Melbourne this May 15 from 6pm on Level one of the Rolls-Royce Motor Cars showroom, 420 Swan St, Richmond.
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j.ballantyne1990-6AQqhLzZaK

Ray White Marine opens it's doors in Melbourne

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EXPERT OBSERVER
The biggest recurring problem for real estate is politicians who don’t understand the industry. Which is pretty much all of them, on both sides of politics.
They also display a chronic inability to think through the consequences of their policies designed to impact housing markets. This sad truth is evident in the policies from both the major parties in the impending Federal Election.
We’re going into Saturday’s poll with no policies from any of the major parties that address the fundamental problems of the housing industry, of which affordability is the biggest. What they’ve served up just fiddles around the edges of the problem.
The Liberal Party has announced a plan that will make it easier for first-time buyers to get loans with smaller deposits, by supporting loans to people who have saved 5% of the purchase price. Federal Labor has given a “me, too” response to that policy (and why not, they’re spending like drunken sailors, why not just add this to the national credit card as well).
But the First Home Loan Deposit Scheme will be available to only a limited number of FHB borrowers and it fails to address the core issues – the price they will pay for properties and the associated costs of getting into the market.
Labor’s core policy is changing negative gearing tax benefits. This is a revenue measure dressed up as a policy to improve housing affordability but clearly it won’t make a positive difference, while creating myriad problems elsewhere.
Whenever they’re asked whether their negative gearing policy will force down house prices, Bill Shorten and Chris Bowen are adamant that it won’t. That being the case, how does it improve affordability? The answer is: it doesn’t. It’s purely a revenue measure.
What the policy will do is put first-home buyers in direct competition with investors for new properties.
This is the polar opposite of the Labor’s stated intentions, because they say they want to prevent FHBs having to compete with investors. These clowns simply don’t understand their own policy or its consequences.
Currently most first-time buyers have to buy or build a new home if they want a state grant. And investors are encouraged to buy new by the recent changes to depreciation benefits. Now Labor says investors will get tax benefits through negative gearing only if they buy new.
So everyone will be compelled to buy new rather than established property. Labor’s policy puts FHBs on a collision course with investors.
The thing is, most buyers don’t want to buy new because it’s usually considerably more expensive than a comparable second-hand home. The core problem in real estate, and none of the major parties are addressing this, is the high cost of creating new dwellings in Australia. 
The costs are so high because all three levels of government milk real estate for revenue. They treat the housing industry as their favourite cash cow. Stamp duty, land tax, capital gains tax, GST, rates, infrastructure charges, application fees, the list goes on and on.
Every time a state or territory government brings down a budget, it adds to the affordability problem by increasing existing imposts or imposing new ones. It’s relentless and it’s the core of the affordability problem.
Everyone (if Labor wins) will be pushed to buy new property but the prices are unreasonably high, thanks to our cynical politicians.
This is occurring at a time when new supply is drying up, partly because federal and state policies have extinguished the contribution of foreign investors – officially to help FHBs but in truth just another grab for cash. 
The surcharges placed on foreign investors in Australian real estate are revenue-raising measures, pure and simple, but they’re hurting Australian buyers by killing off projects that can no longer make the required level of pre-sales to get funding. The reduced supply is just another component of the affordability problem. 
Another unforeseen consequence of the Labor policy will be a revival of the spruiker industry. With most categories of buyers being compelled to buy new – e.g. off-the-plan apartments – we will see a revival of the get-rich-quick seminars that used to proliferate, where crooks make lots of money by ripping off unsuspecting consumers.
So it's not much of a choice this Saturday for voters who care about the housing industry and its related issues, like housing affordability. 
Labor proposes to increase the taxation burden on the real estate industry, which will worsen the problem, and the Liberal pitch may make it easier for FHBs to get a loan to buy a home, but it won’t make the cost of the home cheaper.
It’s a choice between dumb and dumber.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
Currently MOST first-time buyers have to buy or build a new home if they want a state grant
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terryryder-YECXbqmri2

FHB deposit guarantee scheme shows politicians don't understand the housing market: Hotspotting's Terry Ryder

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GUEST OBSERVATION
A little-discussed facet of the real estate market is that people are not turning over their properties as fast as they used to.
It used to be that, on average, people would turn over their properties between three – four years, which of course meant that some people stayed in their properties forever whilst other people would turn over their properties within a year or two.
This was driven by a large pool of people who saw real estate as a money-making mechanism rather than buying homes to live in.
There were people who made a living out of buying properties, renovating and selling.
That trend has eased back significantly as the cost of doing so has become too significant that it is now also a higher risk proposition, and because there is a diminishing number of properties that are old enough to require major renovations.
As such, we are starting to see that people are staying in their properties significantly longer.
In the 12-months to July 2018, we saw a variety of turnover rates throughout Australia, with the regional areas having a higher turnover rate than the capital cities.
For example: Sydney saw a turnover rate of 4.1% but outside of Sydney it was 5.6%.
Regional Tasmania saw the highest level of turnover for all regions with 6.1%, whilst the lowest turnover levels were in Perth at just 3.3%.
Closer to home, we see the Gold Coast with quite a higher turnover rate at 7.2%.
In fact, on the Gold Coast, there were 18,206 sales out of 253,045 total dwellings.
This is a good healthy turnover which does continue to show the strong interest and demand for Gold Coast properties, but we are likely to continue to see the turnover rate soften, particularly in the current climate where there is greater uncertainty about the direction of the real estate market in the medium term.
I have had a significant increase in questions regarding what is going to happen to the real estate market should there be a change of Federal Government at our upcoming Election, and negative gearing be eliminated for the resale residential market.
Anyone who has negative gearing up until the time the new legislation passes through Parliament will retain those negative gearing rights.
This is likely to see a significant jump in the number of people looking to buy their investment properties in the period between the Election and the legislation passing Parliament, which could take two or three months.
This is also a very important window of opportunity for sellers of properties to be able to offer their property to that increased number of investors as undoubtedly there will be a pull forward demand by investor buyers pre the change of legislation, and then a significantly smaller number of investor buyers for resale properties after the legislation passes through.
This means some very careful strategy for both buyers and sellers. Key to that is the decision of which party is elected at the upcoming election.
Give it some careful thought.
It may well be if you have a property ideal for an investor that you should be selling, and we would love to hear from you so we can give you more information around that.
If you are wanting to take advantage of negative gearing and the Labor party is elected, then you need to do so before the new legislation passes through Parliament.
Andrew Bell is Chief Executive Officer of the Ray White Surfers Paradise Group.
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What to consider before negative gearing changes: Ray White's Andrew Bell 

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Manenti Quinlan &amp; Associates, in conjunction with John Hannigan Real Estate Services, have listed the renowned, Ettamogah Pub, Albury.
The Australian icon is located off the Hume Highway, just 16 kilometres north of Albury on a 4.81ha site.
The original creator of the Ettamogah Pub was Ken Maynard who started drawing images of the Ettamogah Pub in 1959. 
It was made famous through his regular cartoons in The Australasian Post. The Ettamogah Mob cartoons, an iconic series of weekly cartoons, were published in the national magazine for nearly 50 years.
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As a boy Ken would cycle around a water hole called Ettamogah, an Aboriginal word meaning 'place of good drink'. This struck Ken as an ideal name for a pub and hence the infamous Ettamogah cartoons were born.
The actual pub dates back to 1987 when built by Albury businessman Lindsay Cooper.
Albury Ettamogah was used as the base to bring the Ettamogah brand into a themed restaurant and pub chain across Australia. 
Continual development has turned the Albury Ettamogah into a well- known tourist destination.
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In addition to hotel trade, the Ettamogah site offers a village with five retail shops, a reception centre, and large dining barn with structures close to completion. Lease negotiations are currently underway with a hairdresser and supermarket operator.
Leonard Bongiovanni of Manenti Quinlan and Associates said it best suited a hands-on operator.
The property has a mid-$3 million price guide with expressions of interest closing June 7.
It has been listed by Leigh O’Brien, who now has projects overseas, with the pub currently operating under management.
The sale includes Ettamogah memorabilia and a 25-year licensing agreement for the Ettamogah Pub name, with a further 25-year option, operating under a royalties scheme.
O’Brien previously held other Ettamogah pubs including one at Kellyville Ridge, in Sydney’s north west, now owned by Woolworths’ ALH, to which he licenses the Ettamogah name.
 
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The original Ettamogah Pub at Albury hits the market

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The Star Sydney complex has unveiled the design for its Grand Foyer, part of the group’s $65 million update to its Pyrmont entrance.
The group bills the Grand Foyer as “the world’s first permanent indoor light and interactive digital art foyer in an integrated resort”.
The $22 million installation is “part light, part water and part digital art gallery”.
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Other inclusions to the property in the transformation project include a brand-new bar, luxury retailers and a new arrival experience.
The Star Sydney Chief Operating Officer, Dino Mezzatesta, said the work was part of the group’s plans to impress guests.
“Architecture, contemporary art and technology have converged to form an iconic showpiece that delivers a unique, unexpected and dynamic arrival experience for our guests,” said Mezzatesta.
“The new Grand Foyer includes a 25-metre-long, 8K resolution crescent shaped screen which will showcase the works of emerging and established Australian artists, university students, cinematographers and animators. 
“The screen content reacts dynamically to the real-world environment and human movement, encouraging guest interaction.               
“Inspiration behind the artworks was drawn from The Star’s proximity to the busy Sydney Harbour shoreline – and the constant ebb and flow of human activity within the Pyrmont area. 
“Alongside the digital canvas, is the first sculptural water installation of its design in the Southern Hemisphere – the ‘Aquatique’ artwork of falling water.
“The integration of Aquatique, LED screens, lasers, lighting and live performances is a world first for an entertainment precinct.” 
The work is being done in collaboration with lighting specialists Ramus Illumination, who was responsible for the permanent outdoor projection system at The Star Gold Coast.
Headed by Bruce Ramus, the firm has also created designs for artists including U2 and David Bowie, as well as events such as The Academy Awards, The Grammys and the Super Bowl Halftime Shows. 
“With The Star Sydney Grand Foyer arrival experience, we wanted to design an experience full of compelling encounters that enrich the journey. We envisioned a beautiful, unifying space that embraces and welcomes all people, and we believe we’ve achieved this,” said Ramus.
“We’ve turned light into an expressive platform in the form of the digital canvas. Through this, light animates to tell the story of the local environment, it is the light, movement and artistic expression of the community that shares the wider story of The Star and Sydney.”
The Grand Foyer work has been timed with the rebrand of Astral Towers and Residences to The Star Grand Hotel and Residences, following a $100 million investment to its hotel rooms and suites.
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Star Sydney unveils $22 million Grand Foyer interactive light installation design

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The hotelier Justin Hemmes has sold his family's longstanding landmark building, Wirrara in Potts Point ahead of tonight's auction.
The corner building had been listed for sale with an $11 million plus guide through Allan Levy from Metro Commercial inconjunction with the local R&amp;W office, but Hemmes was actually hopeful of $13 million, which would reflect a 4 percent yield.
The building's listing coincided with the lease of Arida formally expiring this August.
Through the years, as the Hemmes family expanded their fashion and restaurant business, they also started buying up the buildings in which they operated their different businesses. His parents opened a Thai tea café within their Sydney CBD fashion building in the early 1970s.  
One of their first Merivale coffee shops was this one in Potts Point.
Justin Hemmes' late father, Mr John bought the property at 61-63 Macleay Street for $1.428 million in 1988.
The offering was a rare offload by the hotelier.
Set in the corner of Macleay Street and Challis Avenue, the mixed-use freehold investment located features four large apartments and two retail shopfronts. 
It boasts Merivale’s Fish Shop at street level and the Arida clothing retail outlet next door. 
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Justin Hemmes, who hosted Prime Minister Scott Morrison’s campaign fundraiser at his Vaucluse estate on Monday night, has acknowledged the Potts Point premises needed some rectification works.
But the hotel baron will soon have his hands full with a mooted $1 billion redevelopment of his recently expanded Ivy, George Street site in the CBD.
He has not lodged any plans, but intends to redevelop the site with an office tower and a hotel, in partnership with investors.
There is current $520,950 total rental income with $328,550 from the Potts Point shops and $192,400 from the four upstairs units per annum. 
The luxury retailer of international clothing brands and distinctive interiors has been on a five year lease at $158,000 a year.
It has been trading there, in one name or another, for almost two decades.
The neighbouring Hemmes-run restaurant The Fish Shop has been on a $170,000 a year lease which Hemmes could continue subject to the next owners' wishes.
It has been many restaurants through the decades including Juillet's, Moran, Giraffe, Clochemerle, Lotus and Merivale.
At one point the building was leased by Thelma and Terry Clune, the gallerists, who are best associated with the adjacent acclaimed Yellow House. 
The total internal 741 sqm area comprises 300 sqm of the ground floor. 
There are $10,000 estimated council rates, $93,000 water rates and $55,000 land tax. 
The property is part of the Santa Fe row of 1905 Queen Anne style terraces that once ran from 45 to 63 Macleay Street.
It is part of the surviving half of a set of 10 terraces, designed by architect Maurice B Halligan, some of them demolished to make way for the Chimes.
One of the terraces, also in a neglected state, is the Holiday Inn, which is owned by the Benjamin family.
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Justin Hemmes sells longtime Potts Point retail building pre-auction

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Port Adelaide's iconic Portland Hotel premises has been listed for sale for the first time in over a decade.
The <a href="https://www.commercialrealestate.com.au/property/286-commercial-road-port-adelaide-sa-5015-2014996691" target="_blank">Commercial Road property</a> last sold in 2006 when it fetched $2.3 million, $300,000 up from its $2 million trade just two years earlier.
The Portland Hotel was established in 1886.
The ground floor comprises a sports bar with pool table, a bistro lounge, TAB, alfresco area and a gaming lounge with 33 machines.<a href="http://commercialpropertysearch.savills.com.au/ad924a0c-5a44-e911-80dd-005056816dfc/Sale/Port-Adelaide/286-Commercial-Rd"> </a>It is serviced by the main kitchen.
Upstairs there are 14 bedrooms, a communal kitchen and an office.
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Savills agents Rob Williamson and Steve Bobridge are marketed the freehold corner property with a long term lease 5+5+5+5+5+5 years
It has a current net rental of $235,000 per annum with a building area of 1,155 sqm.
 
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jrobinson-rf4aSBido9

Savills list Port Adelaide's Portland Hotel

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The waterfront Circular Quay premises of Guylian Belgium Chocolate Café has been listed for sale.
The rare freehold property comes with price expectations of up to $35 million.
Property records show the asset is owned by Kazal Bros, run by businessman Karl Kazal, one of the brothers of the prominent Kazal property-developing family.
Mr Kazal owns several other lots in the Opera Quays complex. 
The sale includes <a href="https://www.realcommercial.com.au/property-retail-nsw-sydney-503162790" target="_blank">lots 10, 11 and 54 of Opera Quays</a>, which have been offered for the first time.
Lots 10 and 11 comprise 120 sqm of net lettable area and are supported by two outdoor licenced areas.
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They can be purchased separately or in one line, with vacant possession with potential leaseback of the retail space to Guylian.
Lot 54, the Guylian retail space, also has office suites above the space.
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Cushman and Wakefield agents Anthony Bray and Ryan Cross are marketing the property.
Last month another waterfront space along the Circular Quay Wharf, which is currently tenanted by Buckleys Craft Beer Bar, was listed for sale.
In 2017, the Kazal family sold the Buckley's Bar site in the Bennelong Building at Circular Quay for $21.5 million, a deal also brokered by Mr Bray and Mr Cross.
The buyer of the Opera Quays property will be able to purchase the site with vacant possession or opt for a lease-back arrangement with a five-year term and five-year option with an initial net rent of $600,000 per annum.
<a href="https://www.realcommercial.com.au/property-retail-nsw-sydney-503162790"> </a>
 
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Opera Quays home of Guylian Belgium Chocolate Café listed

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Melbourne-based restaurant chain Dosa Hut have opened their first Gold Coast store after securing space at a convenience centre located in a central part of the region. 
The chain will occupy a 165 square metre tenancy at Crestwood Plaza in Molendinar after signing a five-year lease with options in a deal negotiated by Tanaka Jabangwe, Knight Frank’s Associate Director of Retail Leasing. 
Jabangwe said Dosa Hut had been looking for the right opportunity to open a store in the growing Gold Coast region for some time before leasing the Crestwood Plaza space.
“The tenant had been wanting to establish a presence on the Gold Coast for some time but was looking for the right space and this Molendinar shopfront ticked all the boxes,” he said. 
“Dosa Hut were seeking a central location in a suburban catchment with ease of access to major road networks, and Crestwood Plaza fit the bill on every aspect. 
“The convenience centre is situated on Olsen Avenue, which is a very busy thoroughfare with plenty of traffic passing estimated at circa 57,000 cars daily, which offered great exposure for the restaurant.” 
Dosa Hut, which serves south Indian cuisine, already operates 19 restaurants across Victoria, New South Wales, the Australian Capital Territory and Queensland, but the Molendinar restaurant is the first for the Gold Coast. 
“Crestwood Plaza offered a perceived geographical centre to service both the northern catchment and parts of southern Gold Coast with ease,” a spokesperson said. 
“We are confident in our food and believe the Gold Coast will appreciate the quality, authentic Indian food we have on offer.”
Located in the heart of a major Gold Coast growth district in Molendinar, Crestwood Plaza convenience centre fronts the booming Crestwood Heights residential estate, is adjacent to Bunnings Warehouse and opposite Griffith University’s future development land. 
The centre features over 190 car parks, a full line Supa IGA as anchor tenant and 17 other specialty stores. 
With limited vacancies remaining in Crestwood Plaza, Knight Frank are currently seeking interest from additional food and beverage establishments, health and fitness groups, allied health and/or medical. 
Jabangwe said the Gold Coast retail market continued to be largely driven by demand from local and interstate food and beverage operators. 
“After the Commonwealth Games we’ve seen an increase in enquiry from established operators seeking high profile positions across the city,” he said. 
“There has also been an increase in Asian cuisine offerings and national chains in strategic shopping centre positions particularly through the northern suburbs of the Gold Coast. 
“High-end food and beverage offerings have predominantly been focused around the traditional premium precincts of Surfers Paradise and Broadbeach with a surge in demand for southern Gold Coast positions between Mermaid Beach through to Palm Beach, but there is also plenty of demand from other operators for other suburban areas of the Gold Coast. 
“The suburban catchment offers a less seasonal serviceable population as it alleviates the predominant dependence on tourism spend as perceived in areas such as Surfers Paradise and Broadbeach. 
“Dosa Hut believe local community engagement is paramount to their success and this was one of the key reasons why the first store had to be in a central suburban area.”
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Dosa Hut restaurant chain opens first Gold Coast store in Molendinar

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Insurance giant Youi have taken a lease at Gateway Office Park at Murarrie, one of Brisbane's most sought-after office parks. 
Youi have taken 880 square market of office place on the second level of the building.
The new office space will serve to house specialist skills such as software development and marketing.
Savills agents Shaw Harrison, Jason O'Meara and Wes Woodroffe negotiated the lease.
Harrison said they were looking for accommodation for Youi in the more traditional areas like Milton, Newstead and Woolloongabba, however they found the location at Murarrie a suitable fit.
“They found that the location was ideal for their team and assessors to gain access onto the road networks,” Harrison said. 
Previously occupied a smaller building in Hendra, the new lease at Murarrie will provide Youi with additional space to accommodate their future expansion plans. 
Harrison said the interest in the Gateway Office Park accommodation to date has been overwhelming. 
“We are seeing a trend infringe occupiers seeking to occupy in more traditional industrial locations,” he said.
“Tenants that are normally occupying an office or warehouse facility are seeking out more corporate accommodation in stand-alone office premises that provide them with a more solid corporate identity.”
Savills also negotiated the leasing of professional services firm Acclario IT on a lease in the same building.
Acclario leased 435 square metres on the ground floor with an existing fitout in place.
Acclario managing director Peter Birbeck described the moving process as streamlined.
“The whole transition including the negotiations, and planning for the move from the existing building was painless and streamlined,” Birbeck said. 
“Savills were very professional and courteous, which made the whole process less painful than it could have been.”
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