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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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>
GUEST OBSERVATION
Australia’s electricity sector has begun to transition away from coal, with coal’s contribution to our electricity mix falling from around four-fifths 13 years ago to around three-fifths today.
Twelve coal-fired power stations closed between 2012 and 2017.
There are clear upsides to the transition, among them an ongoing <a href="/news">decline</a> in carbon dioxide emissions from the electricity sector.
For local economies, however, the closure of a coal-fired power station can create economic challenges, including higher unemployment.
We’ve quantified the effects of 12 closures
In a <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/1467-8489.12289" target="_blank">new paper</a> in the Australian Journal of Agricultural and Resource Economics, we use detailed Statistical Area Level 4 (<a href="https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/1270.0.55.001%7EJuly%202016%7EMain%20Features%7EStatistical%20Area%20Level%204%20(SA4)%7E10016" target="_blank">SA4</a>) data to quantify the extent to which local unemployment rates have increased following the closures of twelve coal-fired power stations across Victoria, NSW, Queensland, South Australia and Western Australia.
There are 87 SA4 regions in Australia, each with an average population of around 290,000 people. We found that on average the regional unemployment rate climbs by around 0.7 percentage points after a station closes.
The effect remains observable for year or two, although it varies from region to region.
Clearly, labour mobility and the creation of new jobs do not fully make up for the impact of such closures.
This means there is scope and need for strategies to smooth the labour market transition as we move towards a lower-carbon energy system.
What we found
A simple look at the data indicates that local unemployment rates tend to rise after closures, both in absolute terms and relative to what is happening at the state level.
We find that this effect remains when controlling for the impacts of other key factors, such as macroeconomic shocks and the coal export price.
<hr>
<a href="https://images.theconversation.com/files/266292/original/file-20190328-139364-g9g1jv.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/266292/original/file-20190328-139364-g9g1jv.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://onlinelibrary.wiley.com/doi/full/10.1111/1467-8489.12289" target="_blank">Burke, Best, Jotzo, 2019</a>
<hr>
Typically the increase in the first year is around 0.7 percentage points – for example, from 6.0% prior to a closure to 6.7% afterwards. It is a sizeable effect. For males the increase is 0.9 percentage points.
The Latrobe Valley in Victoria faces one of the biggest structural adjustment challenges. It has seen two closures of coal-fired power stations in recent years: Morwell in 2014 and Hazelwood in 2017.
As the graph below indicates, the average unemployment rate in the Latrobe-Gippsland SA4 region climbed well above the Victorian average after the first closure, before turning down.
<hr>
<a href="https://images.theconversation.com/files/266330/original/file-20190328-139371-9lm7bd.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/266330/original/file-20190328-139371-9lm7bd.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="http://www.abs.gov.au/ausstats/abs@.nsf/PrimaryMainFeatures/6291.0.55.001" target="_blank">ABS Labour Force, detailed</a>
<hr>
A multitude of local transition efforts are underway, coordinated by the <a href="https://lva.vic.gov.au/" target="_blank">Latrobe Valley Authority</a>. These have included a <a href="https://lva.vic.gov.au/worker-transfer-scheme/" target="_blank">worker transfer scheme</a> that has found places for displaced employees at other power stations.
At the even finer-grained level SA2 level, the unemployment rate in the town of Morwell remaines stuck at around <a href="https://docs.jobs.gov.au/documents/sa2-data-tables-small-area-labour-markets-september-quarter-2018" target="_blank">17%</a>, one of the highest rates in Victoria, years after the closure. Before the closure it was around 13%.
The region’s remaining power stations – Yallourn W, Loy Yang A and Loy Yang B – are ageing. Yallourn W is the oldest, at 45 years.
We need to prepare
Structural change is an ever-present feature of a healthy economy. But, especially where rapid structural change happens due to closures of large plants in regional areas, it is important to have measures in place to ease the transition.
The Labor party has promised a national <a href="https://theconversation.com/labors-policy-can-smooth-the-energy-transition-but-much-more-will-be-needed-to-tackle-emissions-107565" target="_blank">Just Transition Authority</a> to plan for and manage the transition process as coal-fired power stations close. Whether it can help mitigate rises in local unemployment after plant closures remains to be seen.
Many of Australia’s remaining coal-fired power stations are likely to close over the next decade or two as renewable energy becomes more cost competitive and the pressure increases to meet emissions targets. The next cab off the rank is likely to be the Liddell power station in the NSW Hunter Valley, which is due to cease coal-fired operations <a href="https://www.smh.com.au/business/companies/agl-tells-shareholders-it-will-close-liddell-power-plant-in-2022-20180926-p50633" target="_blank">in 2022</a>.
And then there’s the larger question of the transition away from coal mining. Export demand for coal <a href="https://coaltransitions.files.wordpress.com/2018/09/coaltransitions_finalreport_australia_20181.pdf" target="_blank">is set to fall over time</a>, winding back a large export industry in New South Wales and Queensland.
The <a href="https://theconversation.com/labors-policy-can-smooth-the-energy-transition-but-much-more-will-be-needed-to-tackle-emissions-107565" target="_blank">Just Transition Authority</a> will have its work cut out.
<hr>
This research was supported by the Coal Transitions Project and the Australian-German Energy Transition Hub. An open access version of the research paper is available <a href="https://ccep.crawford.anu.edu.au/publication/ccep-working-paper/12998/closures-coal-fired-power-stations-australia-local-unemployment">here</a>.<img src="https://counter.theconversation.com/content/113369/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Paul Burke, Associate Professor, Crawford School of Public Policy, Australian National University
Frank Jotzo, Director, Centre for Climate Economics and Policy, Crawford School of Public Policy, Australian National University
Rohan Best, Lecturer in Economics, Macquarie University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/bad-news-closing-coal-fired-power-stations-costs-jobs-we-need-to-prepare-113369" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Closing coal-fired power stations costs jobs - we need to prepare

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A Sunshine Coast investor, who was familiar with the Coolum commercial market, has snapped an industrial warehouse for $245,000.
The property at <a id="LPlnk154374" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLe+gWUrddmiCFEoTVfSuCLXq+FkE4p1rusvbe7meTHQf0FT1KP5siqkiZ3XYT4UQ6hYdTssQlpCNsY8mJKNBQQzjGzAAeLTRh3pvkzNnsVVmBjRBbxhrwglxTwOImA4bMFb+I4gG26KBMVjOjPsJh8sw==&amp;rh=ff0048223b214747420b0ac7ba40be363f116da1" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">13/25 Quanda Road, Coolum Beach</a> came with a 113 square metre building area, was part of a strata tilted slab block of 19 units with easy access to the Bruce Highway and Sunshine Coast Motorway.
The asset was marketed and sold by Ray White Commercial Noosa and Sunshine Coast North Property Consultant Tracey Ryan.
Ryan said the team had worked on the original development of the unit complex, selling 14 of the original 19, in the first offering.
“The unit featured retail style shop fronts on two sides, allowing two-street access and flow-through from two sides,” she 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/2019/3/7/RWC%20Quanda25_13%209.jpg" alt="">
The Quanda Road development is at the gateway to the Coolum Industrial Estate and has always sold and leased well.
“Unit 13 was a resale for a previous investor,” Ryan said.
“The property had been continuously let for the previous eight years, with some improvements being made in that time, including an open mezzanine office.
“The seller was divesting to consolidate his Brisbane-based investments and the new owner had a prospective tenant secured for post-purchase.
“The price reflected the range for sales rates in the area. The Coolum Beach small industrial unit market continues to be buoyant, with more than 70 units sold in the past two years.”
 <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/2019/3/7/RWC%20Quanda25_13.jpg" alt="">
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Coolum industrial warehouse sells for $245,000

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A three-storey, A-grade commercial office building at Yeerongpilly has been listed by the City of Brisbane Investment Corporation (CBIC).
The purpose-built site at 665 Fairfield Road was constructed in 2012 for the Brisbane City Council.
The site has 4,198 square metres of net lettable areas across three levels and 71 car spaces.
It is being sold fully leased with a WALE of eight years, and a further two x five-year options to extend.
Cushman &amp; Wakefield’s Joint Heads of Middle Markets QLD, Mike Walsh and Peter Court along with Nick Spiro, and Savills’ Peter Chapple and Gregory Woods will manage the on-market expressions of interest campaign, due to commence on 1 April, 2019.
It is significant opportunity for investors to secure a high-quality office building, said Mike Walsh, Joint Head of Middle Markets QLD, Cushman &amp; Wakefield.
“Located in an affluent and growing inner-city area, the property is also poised to benefit from major surrounding development activity,” Walsh said.
“This includes Consolidated Properties’ $850 million Yeerongpilly Green project which will include a Woolworths-anchored shopping hub and more than 55,000 square metres of commercial space.”
Strong demand from local and offshore investors is expected, said Peter Court, Joint Head of Middle Markets QLD, Cushman &amp; Wakefield. 
“Overall, the fundamentals of the Brisbane market remain positive and we continue to see aggressive appetite for well positioned commercial building with yields continuing to compress in testing cyclical lows.”
Peter Chapple, State Director, Capital Transaction, Savills, said: “With the site 100% leased to the Brisbane City Council it will attract interest from all interest from all investor types active in the Australian market.”
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City of Brisbane list commercial office building at Yeerongpilly

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Stone Real Estate have opened a branch in the Albury Wodonga region.
Agents Craig and Kelly Huckel initially intended to become an independent agency before joining Stone.
“When we saw the way in which Stone carried out its marketing plus all the technology and strategy that goes along with presenting properties we couldn’t go past this,” said Craig Huckel (pictured above), principal of the new office. 
“We were looking to be independent but could see immediately that the way they presented themselves and as well as their properties was next level. 
“It’s a very city looking brand and we’re very excited to deliver this type of marketing into Albury Wodonga.” 
Kelly, who will serve as manager of the new office, said reactions to Stone’s website technology during their first opens during the week had been hugely favourable.
“Stone’s technology improves the customer experience enormously,” Kelly (pictured below) 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/2019/3/28/HIRES%20Kelly%20Huckel%20Stone%20Albury.jpg" alt="">
 Stone franchise director Luke Cameron said the Huckels are the ideal candidates to introduce Stone to Albury’s real estate market.
“They’re both excellent leaders and business people as proven by their track records in both real estate and their past careers,” Cameron said.
“We couldn’t be happier they’ve chosen to join Stone.”
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Stone Real Estate open branch in Albury Wodonga 

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Ivanhoe’s Woolworths full-line supermarket and BWS has hit the market with expectations of more than $20 million.
The 3,552 square metre retail asset is located at 72-84 Upper Heidelberg Road.
<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/2019/3/28/72-84%20Upper%20Heidelberg%20Road%20Ivanhoe%20-%20IMG%202.jpg" alt="">
Savills Australia’s Benson Zhou, Clinton Baxter, Julian Heatherich and Jesse Radisich have been appointed to market the property.
Zhou said they expected interest from private local and offshore investors. 
“We have three local agents and four Asian Services agents working timelessly on this campaign, and have been extremely busy answering enquiries from overseas and organising inspections,” he said.
“We have received a decent level of interest from Asian investors indicating their willingness to offer more than $20 million. 
“Chinese investors have found a great level of security in the Woolworths brand so we’re also anticipating strong contest from this buyer group, particularly given the premium Ivanhoe location – one of the best suburbs they can expect to buy a full-line Woolworths in Melbourne.” 
Zhou said the long-term lease to Woolworths Limited would be a drawcard for prospective buyers. 
“The 15-year lease covenant with six five-year options to renew is a secure investment proposition, generating a net income of about $917,078 per annum,” he said.  
Baxter said a recent $4.9 million upgrade to the premises was another key selling point.
“The asset presents significant depreciation benefits of about $14.5million,” he said. 
The property includes 178 basement car parks on title. 
Zhou said the retail catchment area would grow in line with the suburb’s population. 
“The City of Banyule’s population is forecast to grow to 147,098 by 2036,” he said. 
“As a result, there is increased residential development in the area, and a gradual upward trend in the value of building approvals.” 
Expressions of interest close Wednesday, April 10 at 2pm.
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Woolworths supermarket in Ivanhoe listed with $20 million expectations 

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EXPERT OBSERVATION 
Australia’s national population is estimated to have increased by 109,057 persons over the quarter to be up 395,101 persons or 1.6% over the 12 months to September 2018 according to the latest Australian Bureau of Statistics (ABS) demographic arrivals and departures data release.
Analysing the results, CoreLogic noted that while nationally the drivers of population growth are net overseas migration and natural increase (births minus deaths), between the states net interstate migration is an important component of population growth.
While nationally the drivers of population growth are net overseas migration and natural increase (births minus deaths), between the states net interstate migration is an important component of population growth.
NSW 
Net interstate migration to NSW saw the state lose 22,113 residents over the year to September 2018, its largest net loss of residents since March 2008. As the chart shows, the biggest sources of arrivals to NSW over the year were Qld (36,730), Vic (25,876) and ACT (11,728). Arrivals from Vic were the highest they’ve been since June 1993 while arrivals from ACT were the greatest they’ve been since December 1997.
<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/2019/3/28/NSW%20.jpg" alt="">
Vic 
Annual net interstate migration was recorded at 13,985 persons over the year to September 2018, the lowest it has been since December 2015. The largest source of migration to Vic was NSW (32,688) followed by Qld (22,433) and WA (12,187). Arrivals from Qld were the highest on record while arrivals from Tas (4,195) were the highest since March 2004 and arrivals from ACT (4,076) were also the highest on record.
<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/2019/3/28/VIC%20.jpg" alt="">
Qld 
Net interstate migration over the year to September 2018 was recorded at 24,316 persons, which although it remains high was slightly lower than the previous quarter. With 52,409 arrivals, NSW accounted for almost 50% (49.45%) of interstate arrivals to Qld over the year. Arrivals from NSW were the highest they’ve been since December 2005. The 24,680 arrivals from Vic were the greatest since June 2004.
<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/2019/3/28/QLD%20.jpg" alt="">
WA 
The state has seen a large net loss of residents due to residents leaving for other states over the year (10,304) however; the outflow has slowed to its smallest levels since June 2016. Although WA is shedding many residents, arrivals from NSW (7,970) were the greatest they’ve been since September 2014, arrivals from Vic (7,364) were the greatest they've been since September 2015 and arrivals from NT were the greatest they’ve been since December 2015.
<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/2019/3/28/WA%20.jpg" alt="">
Tas 
Over the year to September 2018, net interstate migration of 2,370 persons was recorded which was slightly lower than the previous quarter however, net interstate migration remains at the highest levels since June 2004. NSW (3,560), Vic (4,053) and Qld (3,800) were the prime sources of arrivals to Tas. Arrivals from NSW were the highest they’ve been since December 2004, arrivals from Vic were the largest since September 2004 and arrivals from Qld were the largest since March 2008.
<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/2019/3/28/TAS%20.jpg" alt="">
NT 
The state saw a loss of 3,920 residents due to net interstate migration over the year to September 2018, which was the largest outflow of residents on record. Although NT is losing people to other states, the largest sources of arrivals to NT are Qld (3,848), Vic (2,775) and NSW (2,731). As the accompanying chart shows the number of arrivals to NT from other states is typically trending lower.
<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/2019/3/28/NT%20.jpg" alt="">
ACT 
Net interstate migration was recorded at 274 persons over the past year, the smallest gain from net interstate migration since March 2016. With 12,604 arrivals to the ACT, NSW accounted for 56.7% of all arrivals over the past year. The only two other significant states for arrivals were Vic (3,358) and Qld (3,290). While arrivals to ACT were generally trending lower, arrivals from NSW were the greatest on record over the past year.
<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/2019/3/28/ACT%20.jpg" alt="">
Over the year to September 2018, there were 394,193 interstate arrivals across the nation. Australian’s are becoming more willing to move interstate with the 394,193 arrivals over the past year the greatest number since September 2003.
While the economies of NSW and Vic remain much stronger than elsewhere, the cost of housing in these states is also much higher than elsewhere. With greater flexibility around working remotely nowadays, it’s no surprise that the trend towards more interstate movements increasing - we would expect that this trend is set to continue over the coming years.
<img src="https://www.urban.com.au/images/2019/3/28/NATIONAL%20.png" alt="">
TIM LAWLESS heads up the CoreLogic RP Data research and analytics team and can be contacted<a href="https://blog.corelogic.com.au/author/timlawless/" target="_blank"> here.</a>
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tlawless-5VLUrbAk9s

Trend towards interstate movements increasing: Tim Lawless

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Luxury Melbourne home builder Chris Holland has finished another spec built project in Toorak.
He's listed the Albany Road home that was bought in wife Wendy's name two years ago. It cost $4.5 million.
<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/2019/3/29/toorak%202.jpg" alt="">
There's now a modern Drew Cole Architects-designed home within 550 square metre landscaped gardens from Jack Merlo.
Built by his company Holland Building Developments, the four bedroom, four bathroom home has an entertaining area with a built in barbecue and a seven seat cinema and a gym.
Crowning the home, the last stop of the internal Schindler lift, is a roof top terrace with built in kitchenette.
<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/2019/3/29/toorak%203.jpg" alt="">
RT Edgar Toorak agents Oliver Booth and Anthony Grimwade have an $11.52 million to $12.8 million guide.
The Holland's purchase came in 2017 around the time they sold their last project, a glass-swathed Myvore Court home which fetched $16 million, two months after it sold for $19.1 million however the Chinese buyer backed out.
The Hollands had collaborated with architect Drew Cole on several Toorak projects and an earlier residence in Hawthorn.
Cole’s brief was to design a luxury residence he describes as “living in your own home but feels like you’re on holiday."
This article was first published in the Weekend Australian.
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jonathanchancellor-7SQnKwU6yx

Property developer Chris Holland completes another Toorak project

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Hands were being raised furiously as a total of 26 bids saw a Clayton office/warehouse sell under the hammer on site at Unit 21, 1866 Dandenong Road, for $500,000.
With a 219 square metre total building area, <a href="https://www.raywhite.com/vic/clayton/2057662/" target="_blank">the vacant property</a> provided a balance of warehouse and office space, with three car parks on the title that included two undercover.
The property was marketed and sold by Ray White Commercial Oakleigh Sales and Leasing Consultants Joshua Colosimo and Paul Rizzo.
Colosimo said because the business park was so tightly-held, the sale figure reflected a return of $2,500 per square metre, a record price for the estate.
“There was a genuine buzz around the auction with a crowd of 40 people turning up, and the asset eventually sold to a local investor, who will look to lease the property out,” 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/2019/3/26/007_Open2view_ID559863.jpg" alt="">
“The opening bid started at $350,000, and with competition for the site so strong, it was 25 bids later when it eventually sold for $500,000.”   Rizzo said the potential buyers understood the office/warehouse was in a prime location in one of Clayton's most tightly-held and highly sought after business parks.   “The property included a first floor office area of 80sq m* and had ample amenities including ground and first-floor toilets and shower,” he said.   “It also came with a container-height motorized roller door, three-phase power, alarm system, split system heating/cooling and had kitchenette facilities on both the ground and first floor.”
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Clayton office//warehouse sells for $500,000 under the hammer

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Melbourne designer Bernadette Pimenta Couture has committed to a refurbished office space to be used as a showroom for her bridalwear selection.
Bernadette Pimenta has been a fixture in the fashion industry for more than 27 years.
The designer has moved into the prime section High Street Armadale and will use the space for their new design and fitting studio for its hand-crafted gowns.
The move highlights the high demand for retail space in Armadale's tightly held, coveted High Street precinct.
Fitzroys James Spencer leased the refurbished 187 sqm space at Level 1, 1062 High Street on a three-year deal with a three-year option at $50,000 per annum net.
Spencer said the floor had been used in the past as an office, but the overwhelming demand from independent and international retailers for a prime location in one of Melbourne’s most prized shopping strips has seen this transformed into a boutique retail space.
According to Fitzroys’ Walk the Strip, Armadale saw retail vacancies fall by 7.9% over 12 months to 4.1% during 2018, making it one of the best performers of Melbourne’s shopping strips.
“High Street Armadale is one of the strongest retail strips in Melbourne at the moment, supported by major retail brands. The sheer lack of retail space available in the strip underpinned the decision to turn the beautiful office space into a retail showroom experience for retailers,” he said.
“We are consistently talking to reputable retailers who want to be on High Street, Armadale and the outlook for demand and the strip is bright.”
The shopping strip’s strong catchment and inner-city location has attracted high-end independent and international fashion retailers, with ACNE Studios, Carla Zampatti, Zimmermann and Scanlan Theodore all located in the prime section and within a few metres of Bernadette Pimenta’s new space, as well as the recently opened bespoke store of H&amp;M’s upmarket sister label Cos.
 
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Bernadette Pimenta commits to High Street, Armadale tenancy

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Sydney's newest office building has set the record for the most expensive office rental in the Sydney CBD.
It is at an annual net face rate of more than $1800 a square metre at 60 Martin Place.
The 33-level premium-grade building topped out on Wednesday, in a project being undertaken by Investa Commercial Property Fund and Gwynvill Group.
Higher floors have been leased at an annual net face rent of more than $1800 a square metre, while lower floors were averaging around a net annual face rent of between $1200 to $1300 a square metre, Investa group executive Michael Cook said.
Its three latest tenant signings have taken leases of over 9000sq m on terms of between 10 to 15 years.
<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/2019/3/27/Martin1.jpg" alt="">
Flexible workspace provider International Workplace Group has agreed terms on 4500 square metres within the building's podium across levels one to three, with plans to use them as a co-working hub called "Spaces".
Financial services group, Munich Re secured 2600sq m of space on levels 27 and 28, moving out of its own building on Macquarie Street.
The Japan megabank, Mizuho Bank will relocate from 60 Margaret Street to levels 29 and 30, occupying 1900 square metres.
Other tenants which have committed to 60 Martin Place include Norton Rose Fullbright and Banco Chambers.
"The interesting thing is that incentives had been stubborn, and we are into the teens. I am surprised prices have been sticky on the way down but it is a function of the fact that a lot of organisations struggle to justify the capital expenditure of a fitout," Mr Cook told Nine Entertainment.
"There is more elasticity in rents than fitout costs. I would rather have my incentives and rents a little higher because we are producing a cashflow, and I use the incentives to support a cashflow."
Mr Cook said only four to five floors were still available for lease.
The HASSELL-designed building with state-of-the-art end-of-trip facilities is on track for September completion.
In 2016 Investa Office Management Pty Ltd raised $600 million in equity and another US$150 million through a US private placement after it acquired a 50 percent stake in the 40,000 sqm office redevelopment.
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