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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

<html><body>
SPONSORED POST
The Melbourne CBD recorded the greatest yield compression throughout the past three years across CBD office markets globally, as reported by Savills latest Impacts report. 
In Impacts, Savills global thought-leadership programme, Savills explores the link between office yields and borrowing, and concludes that the relationship has become more tenuous as investors’ profiles have changed and fewer investments have been predicated on finance from bank borrowing. 
According to Savills, a rise in interest rates in any domain (which is looking increasingly improbable) is unlikely to result in a corresponding rise in prime office yields so they are likely to remain stable or continue to fall in many markets. 
Looking at the level of yield compression across key CBD markets globally, Melbourne led the charge, with prime yields falling 174 basis point since 2015, followed by Beijing (-132 basis points) and Berlin (-120 basis points). 
Savills Australia’s CEO, Paul Craig, said that while Australian cities were still off the 3.0 percent mark hit by other CBD markets worldwide, “It would be prudent to assume that yields Down Under will fall in a similar trend in the next five years”. 
“This is even more so the case given the Melbourne CBD’s status as a regional gateway city and the Sydney CBD’s status as a global gateway city,” he said.
CBD prime office market yields are now sub-3.0 percent in Hong Kong (2.43 percent), Frankfurt (2.9 percent), Tokyo (2.9 percent) and Berlin (2.9 percent), in a reflection of the new benchmarks being set globally. Savills report forecasts that the Paris (3.0 percent) and Amsterdam (3.5 percent) prime CBD office markets could see market yields harden to under 3.0 percent by the end of 2019.
“Throughout the past three years, we have seen growing investor demand from both foreign and domestic investors drive yields down to record low levels,” Savills Australia’s Director for <a href="https://www.savills.com.au/services-and-sectors/sales-and-investment/capital-transactions.aspx" target="_blank">Capital Transactions</a> in Victoria, James Girvan, said.
“Investors are drawn to the Victorian capital, not only because of strong demand drivers and nation-leading economic indicators.
“The risk-adjusted return for Melbourne CBD remains among the highest recorded across all office markets globally (according to latest available data from the MSCI IPD).”
Positively, as a result of record low interest rates, and thus record low long-term bond yields, the yield premium throughout the 10-year bond rate remained elevated at 305 basis points, according to Savills data in March 2019.
“We are seeing more and more investors, both domestically and internationally, recognise the investment potential in Australia, which will likely drive yields further down, particularly with interest rates likely to remain low in the short to medium term,” Savills Australia’s Director for <a href="https://www.savills.com.au/research/australian-research.aspx" target="_blank">Research &amp; Consultancy</a>, Shrabastee Mallik, said.
“We are not only seeing our peers abandoning tightening monetary policies globally, but domestically, there is also a growing consensus that the RBA will likely bring the cash rate down further this year. 
“We are seeing swap markets pricing interest-rate cuts for the remainder of 2019, which will add more downward pressure on 10-year bond rates, keeping the yield premium elevated and in favour of commercial property.
“Based on global data, yields in Australia remain elevated, compared to comparable investment destinations, providing the impetus for foreign investors to invest in Australian office markets. 
“In the past six months, we have seen increasing foreign investor activity in recovering markets like Perth and Brisbane, as they look to capitalise on relatively higher yields.”
Savills Australia’s Director for <a href="https://www.savills.com.au/services-and-sectors/sales-and-investment/capital-transactions.aspx" target="_blank">Capital Transactions</a> in Western Australia, Nick Charlton, said the prime yield differential between Sydney and Perth was at historical highs, with an approximate 170-basis-point spread encouraging international investors to look more closely at counter-cyclical investment opportunities in the Perth CBD office market.
“Investors are confident the spreads are too wide and set to narrow in the short to medium term,” he said.
“Interest in the CBD office market has been further heightened by the prospect of net effective rental growth in prime office buildings forecast to be at 9.0 per cent per annum between now and 2021, with the lack of new stock and tightening vacancy rates, which are now at sub-5.0 percent.”
Mr Charlton went on to say that Perth was “a distinctly two-tiered market”, with the premium and upper A-grade segment behaving very differently to the lower-quality A and B Grade stock, which were seeing persistently high vacancy rates. 
“Investors see this is where the opportunity lies, finding functional, well-designed and well-located buildings that can be re-purposed to capitalise on the lack of new supply and the forecast net effective rental growth,” he said.
Click here <a href="https://www.propertyobserver.com.au/images/2019/5/1/Savills-yields.jpg" target="_blank">to enlarge</a>.
<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/2019/5/1/Savills-yields.jpg" alt="">
Mat Oakley, Head of Commercial Research for UK and Europe at Savills, says: “While the link between real estate yields and base rates has become less strong, it is by no means broken. Investors who look across a multitude of asset classes, particularly those searching for long-term secure income, will reach a point where the yield on sovereign bonds becomes attractive enough to prompt them to choose them above real estate. For the foreseeable future, however, prime offices in the world’s global cities will remain attractive, with competition fierce for the best assets.”
Simon Smith, Head of Asia Research at Savills, comments: “With the threat of a US-China trade war easing and the Fed signalling that it is unlikely to raise rates at the time of writing, we have seen a resurgence in demand for prime offices in Asia-Pac after activity weakened in the latter half of 2018. 2019 is therefore unlikely to see any movement outwards in yields.” 
Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. To learn more about Savills, visit <a href="http://www.savills.com.au/" target="_blank">savills.com.au</a>.
</body></html>

jrobinson-rf4aSBido9

Melbourne leads CBD markets globally in yield compressions for past three years: Savills

<html><body>
Melbourne developer Welsh Group has purchased an additional site in the Victorian suburb of Armstrong Creek.
The site at 500-540 Surf Coast Highway completes the Welsh Group ownership of over 40 hectares of landholdings at the mixed-use Armstrong Creek Town Centre.
Construction of the site, which has now received planning approval, is due to commence in the coming weeks.
Stage 1 of the development comprises of a Coles supermarket along with supporting specialty retail.
<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/2019/5/31/IN1.jpg" alt="">
Andrew Welsh, Managing Director of Welsh Group, said Stage 1 of the Town Centre is scheduled to open in 2020.
“Stage 1 will initially service approximately 58,000 people, and provide in excess of 1,100 ongoing jobs, with the suburb set to rapidly increase to over 110,000 residents by 2036,” Welsh said.
“The Welsh Group has a strong investment within the Geelong region through its residential homes division, Welsh Homes.
“The Armstrong Creek Town Centre will be the first major commercial project in this region delivered by Welsh Group, and will include a range of retail, leisure and entertainment, residential and community facilities; bringing an array of services and employment opportunities to the growing community.”
Colliers International has been appointed as exclusive leasing agents with Mike Crittenden and Adam Lester set to manage the leasing campaign.
“The initial off market campaign in securing the anchors, has already generated significant local and national retail interest for the soon to be launched specialty tenancies,” Crittenden said.
</body></html>

jonathanchancellor-7SQnKwU6yx

Welsh Group buys another site at Armstrong Creek with construction set to commence

<html><body>
Construction is about to commence shortly on a new health and wellness centre at 101 Collins Street.
The commercial tower, which is managed by AXA Investment Managers – Real Assets, will be home to  two studios with sprung floors and heated ceiling panels, equipped for a range of activities including yoga, pilates, barre, meditation, HIIT and a range of cardio-based classes.
The studios will be located alongside three specialist consultation rooms offering services such as physiotherapy, osteo therapy, chiropractic’s and remedial massage. 
The wellness centre, designed by Australian architects Gray Puksand, will be for the exclusive use of 101 Collins Street tenants.
Construction of the facility is slated to commence in April, with completion expected in October 2019. 
The wellness centre is the second phase of a comprehensive strategic asset plan, said Brett Dillon, Head of Funds Management at AXA IM-Real Assets.
“For almost three decades, 101 Collins Street has held the position as Melbourne’s pre-eminent office address, but we can’t afford to be complacent,” said Dillon.
“Our team is focused on responding to evolving tenant needs, new trends in technology and innovation, so our projects will continue to set new benchmarks in the premium space market.
“Wellness offerings are an essential element of today’s modern workplace, so we are excited to announce that construction will shortly commence on this industry-leading amenity at 101 Collins Street.”
Tenants at the 57-storey 101 Collins include Herbert Smith Freehills, Allens Linklaters, Goldman Sachs, and J.P Morgan.
</body></html>

j.ballantyne1990-6AQqhLzZaK

New wellness centre for 101 Collins Street tenants starts construction 

<html><body>
Australia’s banking sector is in recover mode after being hit by the perfect storm of influences, according to a new industry survey from Stamford Capital. 
Due to the effects of APRA restraints, the Royal Commission and resulting Hayne Report, pre-sale criteria continues to constrict residential development, according to Stamford Capital’s Real Estate Debt Capital Markets Survey 2019.
The survey found lenders are looking to size up loan books and scramble to develop new products for the changing market and many anticipate an interest rate decrease.
More than 100 active lenders participated in the national survey from major trading banks and non-bank lenders to super funds, foreign banks, private financiers and second-tier trading banks. 
Stamford said the survey aims to be a barometer of lending sentiment and an early identifier of market trends.
Overwhelmingly, the sentiment is that the residential apartment and housing market is in decline, according to the survey.
85% of respondents believe the residential markets are in decline, up from just 50% in 2018.
<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/2019/4/11/MICHAEL_MG_0430.jpg" alt="">
“The pre-sales hurdle is now a barricade in the market and this is where we are witnessing one of the biggest divides between bank and non- bank lenders. It is no surprise that non-bank lenders are continuing to gain momentum in this market,” said Stamford Capital Executive Director Michael Hynes (pictured above).
The Stamford Capital Survey reveals that while 84% of major and second-tier banks require pre-sales of between 60 to 100%, 34% of non-bank lenders have no pre-sale commitment requirement.
Survey respondents also forecast an interest rate decline in 2019 which could prop up the residential sector - with 29% believing rates would drop, up significantly from just 3% in 2018.
Interest Cover Ratio (ICR) has replaced Loan Value Ratio (LVR) as the preferred metric for bank credit assessments and 60% of term-debt lenders see an ICR of 1.5 times for investment lending with banks seeking at least two times ICR.
“Lenders are definitely looking to find their feet in this rapidly changing landscape and typically the non-bank lenders are nimbler at this as they are not governed by APRA,” said Hynes.
A third of respondents revealed concerns are limited to specific locations and market sectors with the top three identified for risk:
<ol>
<li>Inner-city residential apartment oversupply in inner-urban areas of Sydney, Melbourne and Brisbane;</li>
<li>Pre-sales settlement defaults in new residential projects; and</li>
<li>Under-performing retail assets</li>
</ol>
Despite weakening market sentiment and rigid lending criteria for banks, the survey revealed that 73% of respondents are looking to increase the size of their loan book, down from 92% last year.
A whopping 90% of non-bank lenders expect to increase or maintain their loan book size with 62% indicating they expect increasing by 15%.
“Non-bank lenders are growing in terms of volume and appetite in this market, while the banks have pared back - adding further fuel to the fire in an already dynamic commercial finance sector this year,” said Executive Director of Stamford Capital, Domenic Lo Surdo.
However, the non-bank sector may soon face greater restrictions on lending criteria reducing their competitive edge – with 65% of Stamford Capital Survey respondents saying they expect APRA to increase oversight.
But while lenders remain cautious about market risks, Stamford Capital’s survey revealed many are developing innovative ways to cater to investor demand with 41% of respondents looking to introduce new products in 2019-2020.
Build-to-rent is a firm favourite new product with more than half of respondents looking to introduce loan facilities catering to this market, with 36% focusing on investment loan products and 34% on stretched senior debt investment products.
Crowdfunding is unlikely to make an impact in Australia with only 9% of respondents viewing it as a credible commercial lending option.
The outlook is not entirely bleak with increasing flexibility for investors who conform to criteria.
“All lenders are competing for quality investment applications to replace their construction loan books so investors are tipped to come out on top and those who tick the boxes will get competitive finance deals,” said Lo Surdo.
Non-banks however will have an increased appetite for investment and construction lending, transacting construction deals that don’t meet the banks criteria.
75% of survey respondents anticipate non-bank investment loan appetite will increase with 36% predicting investment margins will also increase.
Further, 67% of respondents anticipate non-bank appetite for construction loans will increase with 48% forecasting an increase in construction margins.
</body></html>

Pre-sale criteria continues to constrict development: Stamford Capital

<html><body>
A Melbourne based investor has paid $6.5 million on a 6.3% yield for a Campbellfield industrial facility with Hume Highway frontage.
Dawkins Occhiuto directors, Chris Jones and Walter Occhiuto brokered the deal.  
Located a short distance from the Metropolitan Ring Road, the 1608 Hume Highway property comprises a total building area of 4,949 square metres covering only 25% of the 16,550 square metre site.
It is leased to multinational tenant, Komatsu, on a seven year term expiring August 2020, at a current passing net rental of circa $411,000 per annum. 
Mr Jones said the Expressions of Interest campaign drew a strong field of local, interstate and off-shore buyers based on the property’s exceptional investment credentials.  
He said, “this property offered an excellent location and exposure right on the highway, a secure lease to a blue chip tenant, buildings and hardstand in very good condition and of high utility, high underlying land value, and significant future development upside with a low site coverage. It was hard to beat." 
“We are seeing strong yield compression, particularly for the best located, modern, industrial facilities with secure lease covenants, and that is likely to continue while industrial yields remain comparatively attractive vis-à-vis retail and office property, and while alternative assets classes are offering lower and/or more volatile return prospects,’’ Mr Jones added. 
The vendor was an interstate syndicator.
</body></html>

Campbellfield Industrial facility fronting the Hume Highway sold for $6.5 million

<html><body>
Seven individual Metro Petroleum service stations spread across NSW, VIC and QLD are headed to auction, at the same Sydney in-rooms event.   Sites at Broken Hill and Cootamundra in NSW, Bonnie Doon, Rutherglen, Cann River, Great Western in VIC and Texas in QLD are all going to be under the hammer on May 16.   The sites are marketed by Ray White Commercial NSW Director Michael Ajaka, Commercial VIC Director Paul Waterhouse and Commercial QLD Director John Dwyer.   Mr Ajaka said the portfolio of service stations, currently head-leased to Dib Group (trading as Metro Petroleum and a Shell service station at Cann River), offered investors exceptional opportunities to purchase premium investment properties.   “'Metro Petroleum' is a major petroleum brand with approximately 250 service stations and convenience stores across Australia’s east coast, including Western Australia and South Australia,” he 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/2019/4/19/PRINT_Shell_Cann_River_133_7.jpg" alt="">
“Servicing a large base of wholesale customers nationwide, it makes the company one of Australia’s largest independent service station franchises.   “Service stations really are a solid investment and banks are still financing investors to buy them, which makes them particularly appealing in the current market.   “The operators have good sustainable businesses such as the fuel sales, convenience stores, and with some having cafes they also run on-site.   “These opportunities will appeal to a number of people, from mum and dad investors as part of their superfund portfolios, to high net-worth individuals with interest expected to come from locals, nationals and offshore investors   “Leases on the sites run until 2028, 2029, 2030 with options, with an annual rent increase of CPI as per lease, and tenants paying outgoings as per lease (excluding land tax and building insurance).'"
Service station location and details:   NSW – Ray White Commercial NSW Director Michael Ajaka   <a id="LPlnk195651" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGRRfjY0I8EBuIExwxzbeVsbuhKX/r1pFevSn3VIfLmZU=&amp;rh=ff004a5e3f2a188bb6f86effce4a835efc129c4d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">·         571 Beryl Street, Broken Hill, NSW 2880</a> Lease term with options 10 years + five years + five year + five years Commencement date 1 December 2018   <a id="LPlnk412210" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGJKCadd8OMjqFleKKoVl5m7x81vYjdkXNBSL8tPGFBNo=&amp;rh=ff004a5e3f2a188bb6f86effce4a835efc129c4d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">·         111 Sutton Street, Cootamundra, NSW 2590</a> Lease term with options 10 years + five years + five years Commencement date 1 August 2017   VIC – Ray White Commercial Vic Director Paul Waterhouse   <a id="LPlnk579059" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZG9u9uZGomxbBu/2zFzDXsPeRSu23KUkTqOjJu7F/J4b0=&amp;rh=ff004a5e3f2a188bb6f86effce4a835efc129c4d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">·         1 Jones Street, Boonie Doon, VIC 3720</a> Lease term with options 10 years + five years + five years + five years Commencement date 1 July 2017   <a id="LPlnk3678" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGKfkRMUK57/KKEeAipBpXadv0lKwGi61PfPh6+f37vxw=&amp;rh=ff004a5e3f2a188bb6f86effce4a835efc129c4d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">·         155-163 Main Street, Rutherglen, VIC 3685</a> Lease term with options 15 years + five years + five years + five years Commencement date 1 December 2015   <a id="LPlnk816553" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGqdp6twqTXLIFaqGm1FdnTPChqLN9nmAFjtuyCnva7Tg=&amp;rh=ff004a5e3f2a188bb6f86effce4a835efc129c4d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">·         28 Princes Highway, Cann River, VIC 3890</a> Lease term with options 12 years + five years + five years + five years Commencement date 1 August 2017   <a id="LPlnk758652" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGfBzxsG4gjnMLhKlnt7GjZksdw4ouA5SBw3X3puuh0j4=&amp;rh=ff004a5e3f2a188bb6f86effce4a835efc129c4d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">·         116 Main Street, Great Western, VIC 3374</a> Lease term with options 11 years + five years + five years + five years + five years Commencement date 1 April 2018   QLD – Ray White Commercial QLD Director John Dwyer   <a id="LPlnk361010" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGC0xdXocb+cXytLqjXtn/jPUq9RmQXcp2&amp;rh=ff004a5e3f2a188bb6f86effce4a835efc129c4d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">·         37 Greenup Street, Texas, QLD 4385</a> Lease term with options 15 years + five years + five years + five years + five years Commencement date 1 December 2015 
</body></html>

Seven Metro Petrol service stations set for auction

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
The final three retail assets in Central Park Retail, in Sydney CBD's downtown precinct are being offered for sale in one line.
Central Park Retail is Frasers Property Australia and Sekisui House’s award-winning $2 billion mixed-use Central Park development. 
With the flagship 12-year project now nearing completion, the joint venture is divesting the remaining three retail assets – Central Park Mall, DUO Retail and Park Lane Retail – in one line.This transaction is the final component of the partnership’s divestment strategy.
Internationally recognised for the vertical gardens and heliostat, it was transformed from a former brewery site into a mixed-use precinct with retail, commercial, hotel, education, student accommodation and residential uses.
“Central Park has redefined urban living in Sydney and Central Park Mall is the natural heart of this community. The precinct has won multiple awards in design and liveability and we are searching for the right buyer to keep the retail offer evolving,” says Mick Caddey, Development Director, Frasers Property Australia.
“These retail assets serve a large and growing catchment from a highly prominent and easily accessible location; surrounded by universities and education precincts with over 115,000 students within walking distance of the centre."
“Neighbouring Central Station is less than a 500 metre walk and is Australia’s largest and most frequented railway station. Central Station is currently undergoing a $955 million upgrade, with an estimated 270,000 commuters passing through the station daily,” says Mr Caddey.
Colliers International’s Head of Retail Investment Services, Lachlan MacGillivray, has been appointed to sell the CBD retail assets via an International Expressions of Interest campaign commencing in early May.
The Central Park Retail offer comprises Central Park Mall, DUO Retail (eight retail outlets) and Park Lane Retail (six retail outlets) in one line.
<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/2019/4/16/COLL_Central_Park_Mall_Grounds_4025.jpg" alt="">
Central Park Mall opened in late 2013. 
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
Its comprised of 14,600 sqm of gross lettable area set across five levels.
“The Central Park precinct continues to go from strength to strength and customers are voting with their feet and wallets with customer traffic and sales having grown 33 percent and 56 percent respectively since 2014,” says Mr MacGillivray.
This transaction represents the first significant opportunity since 2013 to acquire a 100 percent interest, with management, in a high calibre retail centre in Sydney’s CBD.
Recent sales of Sydney CBD retail assets highlight strong investor demand for a tightly held asset class, with a 25 percent interest in MidCity Centre transacting at a yield of approximately 4.0 percent and Pitt Street’s Soul Pattinson Building sold for $95 million at 4.0 percent. 
Central Park Retail is expected to transact in excess of $170 million.
Mr MacGillivray anticipates Central Park Retail will receive keen interest from domestic and international, private and institutional purchasers, given its quality and profile.
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Final three Central Park Retail assets hit the market

<html><body>
Liminal, part café, part wine store, part event space, part market place, is set to open in May this year.
It is the latest project from Melbourne hospitality outfit The Mulberry Group.
Liminal will be located on the ground level of 161 Collins Street and is a new direction for the group who sold their signature cafés, Top Paddock, Kettle Black and Higher Ground, in December last year.
Situated Adjacent to the lobby atrium in the art deco T&amp;G Building.
The 400 sqm space was designed by The Stella Collective. .
Executive Chef Martin Webster (Jackalope, Montalto) has created breakfast and lunch menus. 
We’ll be changing them regularly depending on what produce comes through from the market.” says Webster.
The wine store offers customers the opportunity to select a bottle to enjoy in house or pick up one to take home.
Liminal will also feature a private board room.
It will operate Monday – Friday 7am – 6pm.
</body></html>

Mulberry Group's latest Melbourne CBD project Liminal opens May

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
There has been a mish-mash of infrastructure charges across Sydney’s growth areas with some of the highest growth areas being hit with big charges and a poor system for determining costs, according to new research from the Property Council of Australi
The research, originally conducted by Elton Consulting and supplemented with recently released population data from the ABS, claims areas of high growth need a better system for funding infrastructure with the charge placed on one dwelling taking up to 27 mortgage repayments to pay off.
“Sydney is growing and needs infrastructure, but we haven’t got the right funding system for delivering it. Currently communities in high growth areas are paying high infrastructure costs on their homes and this is not sustainable or equitable,” Acting Property Council NSW Executive Director William Power said.
“These areas are quickly developing and so there is often a layer cake effect to the charges – some charges coming from the State Government, others from local government – money drawn from multiple sources for much needed infrastructure.
“The blame for this scenario does not lie with any particular level of government, but rather in a lack of focus and line of site of what is being charged, for what infrastructure and for what community outcomes. This is made worse by the fact that some Councils are trying to administer up to 8 different contribution plans.
“At the moment, no one has a complete view of what is being charged and for what outcome across Greater Sydney and this is resulting in higher charges in some areas than others - It needs a rethink, and our recently elected state government needs to tackle this issue as one of their top priorities.”
The Property Council believes the State Government needs to:
<ul>
<li>Conduct an audit and create an online record of all infrastructure charges across Sydney</li>
</ul>
<ul>
<li>Create an infrastructure charges calculator that tells the community or industry what the infrastructure charge on each dwelling will be in a suburb.</li>
</ul>
<ul>
<li>Give IPART (Independent Pricing and Regulatory Authority) greater resourcing and remit to review more contribution plans, review and edit the essential infrastructure list and ensure the community is getting the right infarstrcure to support growth from these contributions</li>
</ul>
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
“Planning Reform and infrastructure charges must be the top two priorities for Minister Stokes and thenew Department of Planning and Industry to ensure Sydney is growing well," Mr Power concluded.
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Infrastructure funding for Sydney needs big rethink: Property Council Australia

<html><body>
The Canterbury League Club, which started life as a small community hall in 1957, has just unveiled its new renovated venue.
Commencing in 2014, the $106 million redevelopment was designed with the goal of creating a 5-star premier hospitality venue, featuring cafés, lounges, bars, restaurants, gourmet food and drinks, entertainment, shows, a play area and a 24 hour health club.
The Club, whose members now number over 62,000 aims to be a ‘gathering place’ for the local community and a true ‘foodie hub’.
Along with two new restaurants, The Bakehouse Café, which is open 24-hours, and The Bistro, which can  seat 700 guests, and Lavico, the traditional Italian eatery, there is also a new bar, The Atrium Bar, 10 levels of underground parking featuring nearly 1,300 parking spaces and a newly created LED lightshow.
All of this is supported by an underground services area, which includes an underground loading dock and production kitchens that feature cutting-edge facilities.
This area also boasts sustainable features including an elevated loading dock, a Wi-Fi connected garbage compactor that can book its own waste pick up and the revolutionary Orca system which can turn waste into water.
The Club is set for more expansion with a hotel and residential apartments set for the top of the Club in the planning.
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News