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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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The Sydney art institution Watters Gallery in Darlinghurst has been sold at auction by Colliers International for $5,505,000.
It was the first time the gallery space had been offered to the market in 50 years. 
Miron Solomons, Matt Pontey and Nick Lumley of Colliers International sold the 230 square metre, three storey Victorian terrace with vacant possession.
It went for more than $1 million over the initial starting bid of $4.5 million, with the property receiving 45 bids. 
Located at 109 Riley Street in Darlinghurst, the art gallery had contemporary internal finishes including polished concrete floors and multiple rooms with high quality amenities including a lift and loading dock. 
The gallery, which closed its doors in December 2018, has been owned and operated by Frank Watters and Geoffrey and Alexandra Legge since 1964. 
“109 Riley Street has significant historic value in Sydney, as it dates from a key period of Darlinghurst development during the subdivision of grand estates into residential and commercial development,” said Miron Solomons, National Director, Investment Services at Colliers International. 
The space has had a variety of uses over time, originally as a boot warehouse from 1858 – 1862, then used as retail space and also operated as a hotel until 1968, where it was converted to an art gallery by architect Don Gazzard.
Watters Gallery is named after director and owner Frank Watters who lived above the gallery since 1970.
Substantial extensions to the rear of the building were carried out by Walter Barda Design in 2010. 
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j.ballantyne1990-6AQqhLzZaK

Watters Gallery in Darlinghurst sells for $5.5 million

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Sydney’s Belfield Bowling Club is selling off two bowling greens, allowing it to reinvest in the club to ensure its ongoing appeal to a younger generation of players. 
The Club will retain ownership of one green and the existing clubhouse.
The Belfield property sits 13 kilometres south west of Sydney in the Canterbury-Bankstown area.
CBRE’s Peter Vines, Victor Sheu and Robert Dowdy are marketing the two greends, as well as the car park, which span a total site area of 4,000 sqm.
The site is permissible for residential, aged care, child care, affordable housing developments and place of public worship (STCA). 
Vines said the sale would enable Belfield Bowling Club to invest in the future, while unlocking a unique development opportunity in Sydney’s tightly held inner-west. 
“Bowling clubs have been at the heart of Australian communities for decades, being the focal point for meetings, events, wedding receptions and a host of other community activities," Vines said.
"In more recent years however, closures have become more common, with reduced membership numbers due to an ageing population and demand for space in the city at a premium."  
Over the past decade, there have been 89 bowling club closures across NSW, with 508 clubs still in operation, including 100 clubs in the Sydney metropolitan area. 
Robert Dowdy said in the face of headwinds, clubs were reinventing themselves in order to attract a new generation of players. 
“Many clubs have found new members by embracing barefoot bowls – a more relaxed approach to the game that allows participants to be casually dressed and partake in friendly competition,” Dowdy said.
The Greens of North Sydney transformed itself into a more trendier place for younger people to socialise. 
“Clubs are also freeing up bowling greens for beer gardens alongside restaurants/bistros – or, as evidenced with this Belfield Bowling Club, divesting parts to spark development and attract new clientele.” 
 
 
 
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jrobinson-rf4aSBido9

Sydney's Belfield Bowling Club lists two of its bowling greens

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GUEST OBSERVATION
Federal and state elections in coming weeks provide a timely moment for Australians to reflect on the increasingly obvious failure of governments to manage the triple crises of inflated property prices, lack of <a href="https://www.facs.nsw.gov.au/providers/housing/affordable/about/chapters/what-is-affordable-housing" target="_blank">affordable housing</a> for people on low to moderate incomes, and property market volatility. The likely <a href="http://blogs.unsw.edu.au/cityfutures/blog/2018/12/shorten-places-housing-at-the-centre-of-the-2019-election/" target="_blank">prominence of housing in the federal poll</a> at least, if not in New South Wales, perhaps signals welcome political recognition that decades of complacency and inaction are to blame for housing system under-performance. And it’s <a href="https://cityfutures.be.unsw.edu.au/research/projects/strengthening-economic-cases-housing-productivity-gains-better-housing-outcomes/" target="_blank">costing the country dearly</a>.
There’s a growing sense that core aspects of the governmental mindset that have underpinned housing policy since the 1980s are long overdue for a rethink. And not just in Australia. Our recent <a href="https://shapingfutures.gla.ac.uk/" target="_blank">knowledge exchange project</a>, involving academics, policymakers and professionals in Australia, Britain and Canada (the “ABC countries”), <a href="https://cityfutures.be.unsw.edu.au/research/projects/shaping-futures-changing-housing-story/" target="_blank">tapped into these debates</a>.
A misplaced faith in markets
Our <a href="https://cityfutures.be.unsw.edu.au/research/projects/shaping-futures-changing-housing-story/" target="_blank">Shaping Futures report</a> identifies important common housing features across the ABC countries. These include their overarching “liberal market” approach (for example, relatively light regulation of private rental housing) and the challenges of managing population-driven growth in cities.
In all three countries, a similar set of foundational beliefs has dominated housing policy for decades. One is an increasingly misplaced faith that housing markets are well-functioning systems. Another is that issues of poor housing and high housing costs are seen purely in terms of redistributive welfare. The impacts on growth and productivity are largely ignored.
Governments of the ABC countries have increasingly delegated responsibilities for coping with national and global pressures on housing. At the same time, they have provided little more autonomy and limited resources for cities and regions to respond to these pressures.
All three nations have seen falling home ownership rates for young adults and long-term declines in home ownership affordability – <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/1467-8462.12174" target="_blank">among the most severe in the OECD</a>. Household debt rates are <a href="https://data.oecd.org/hha/household-debt.htm" target="_blank">close to the highest in the OECD</a>.
Inflated demand is increasing stress in private rental markets. It’s coming from growing numbers of frustrated middle-income aspirant homebuyers and from low-income tenants denied access to social housing by a proportionately smaller supply.
<a href="https://cityfutures.be.unsw.edu.au/research/projects/strengthening-economic-cases-housing-productivity-gains-better-housing-outcomes/" target="_blank">In Sydney in 2017</a>, moderate-earning and low-earning tenants paid, on average, more than A$6,000 a year in rent over and above 30% of their incomes. And that still didn’t spare them the growing costs and lost productivity of commutes commonly exceeding 90 minutes.
Research in <a href="https://cityfutures.be.unsw.edu.au" target="_blank">Sydney</a>, <a href="https://council.vancouver.ca/20171128/documents/rr1.pdf" target="_blank">Vancouver</a> and <a href="https://data.london.gov.uk/dataset/housing-london" target="_blank">London</a> demonstrates that to quantify the real burdens of city housing shortages we need integrated analysis of housing and transport outcomes.
Housing failures have broader consequences
Housing outcomes, including quality, price and location, have significant impacts on the “big goals” of governments.
Regressive subsidies (such as tax concessions for property owners) have worsened rather than offset the effects of rising rents and house prices on income inequality and wealth distribution. In all three countries inequality indices have increased over the last two decades. And in the UK, at least, <a href="https://www.parliament.uk/business/publications/research/key-issues-for-the-new-parliament/social-reform/social-mobility/" target="_blank">social mobility is lower than in other developed countries</a>. Housing systems have been at the heart of these changes.
We should aim to boost economic productivity by enhancing human capital – that is, maximising people’s opportunities and capabilities. Instead, there is an emerging sense that growth dividends have been sunk into raising housing and land prices, through investor speculation. This rentier-driven, rather than entrepreneur-led, economic growth has reduced the housing market’s resilience to cyclical instability.
Piecemeal policies aren’t enough
At least until very recently, longstanding systemic housing problems have generally failed to evoke major policy responses. When interventions have been considered necessary, these have tended to be restricted to homelessness and to helping marginal homebuyers. This has often been done in ways that have proved counterproductive by pumping up demand.
With the possible exception of the UK devolved nations, government housing policymaking capacity has been largely emasculated across all three ABC countries over the past 10-20 years. Housing ministries and agencies have been abolished or “integrated” into human services departments.
Likewise, Shaping Futures stakeholders were unimpressed with recycled policy proposals. One example is suggestions that <a href="https://www.pc.gov.au/inquiries/completed/human-services/reforms/report" target="_blank">income allowances for individuals should replace direct supports for housing supply</a>. Another is that planning is the prime cause of supply-side “stickiness” that holds up the delivery of new housing.
One response would be to join some of our academic colleagues in attributing such shortcomings to a misguided faith in managed markets. We might even echo calls to restore pre-1980s housing policy instruments such as big public housing, deep rent controls, tied subsidies and the like.
However, the reality is that markets are likely to remain a preferred basis for our housing systems. The above diagnoses and prescriptions also overlook the possibility that some post-1980s innovations have produced significant policy progress. The emergence – particularly in the UK – of regulated not-for-profit organisational models is an important case in point.
Nevertheless, minor tinkering will resolve none of the major housing system problems that have become all too apparent in the ABC countries since the turn of the century, and especially since the GFC.
Key features of a solution
As well as a commitment to housing as a higher priority for government spending, a new understanding of how housing systems operate and what housing outcomes achieve is urgently needed. In particular:
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<li>
The housing sector needs to make <a href="https://cityfutures.be.unsw.edu.au/research/projects/strengthening-economic-cases-housing-productivity-gains-better-housing-outcomes/" target="_blank">stronger economic cases for support</a>, while treasury and finance ministries must improve their comprehension of housing markets. Advocates need to voice the productivity case for housing; policymakers need to take it seriously.
</li>
<li>
As failed economic thinking for housing policies has generated unstable and expensive housing outcomes, the conventional wisdom finds easy scapegoats in the regulatory planning system. Yes, unduly tight regulation will hinder supply, but no more so than failure to invest adequately in infrastructure and, indeed, shortages of construction labour and materials. Again, the challenge for treasuries is to resist the simplistic “economics 101” analysis that fails to recognise <a href="https://www.marsdens.net.au/assets/pdf/Peter-Phibbs-LE-2018.pdf" target="_blank">the special qualities of housing and land markets</a>.
</li>
</ul>
<ul>
<li>
Far from further downgrading its influence, planning needs to be cast in a more central role to extract infrastructure-and-planning-induced gains. Critical here is the recognition that “<a href="https://theconversation.com/england-expects-40-of-new-housing-developments-will-be-affordable-why-cant-australia-94581" target="_blank">inclusionary zoning</a>” essentially taxes “scarcity rents”. And – unlike tax-funded housing expenditure – it creates no drag on growth and productivity.
</li>
<li>
Governments in Australia and Canada need to fully recognise <a href="http://blogs.unsw.edu.au/cityfutures/blog/2017/04/ready-for-growth-has-australias-affordable-housing-industry-got-what-it-takes/" target="_blank">the potential of non-profits</a> to deliver not just low-income housing but mixes of renting, owning and shared ownership. This creates opportunities for younger households as well as better neighbourhoods.
</li>
<li>
Governments must reshape young adult routes into home ownership. At the same time, they must avoid over-reliance on crudely designed central bank policies on deposit limits and lending ratios uniformly applied across diverse local housing markets.
</li>
</ul>
Reforms to ensure better housing outcomes in the ABC countries are possible. Significant modernisation of private rental regulation in <a href="https://theconversation.com/an-open-letter-on-rental-housing-reform-103825" target="_blank">Scotland, Victoria</a> and <a href="https://engage.gov.bc.ca/app/uploads/sites/381/2018/12/RHTF-Recommendations-and-WWH-Report_Dec2018_FINAL.pdf" target="_blank">British Columbia</a> provides recent cases in point.
Most such steps will depend, however, on governments providing additional or redirected resources. Even more, they require housing systems to be administered at regional and local level with evidence-based understanding and commitment.
Many of the housing problems that distress urban communities across the ABC countries stem from “a veil of ignorance”. There’s an official disregard for evidence and mistaken adherence to simplistic narratives that play down significant market failures.
Households, communities and cities deserve better futures. <a href="https://cityfutures.be.unsw.edu.au/research/projects/shaping-futures-changing-housing-story/" target="_blank">Shaping them is feasible</a>.
A convincing pitch to do so could well prove critical in swinging young voters’ allegiance and, as a result, the results of Australia’s imminent elections.
Duncan Maclennan, Professorial Research Fellow in Urban Economics, UNSW; Professor of Strategic Urban Management and Finance, University of St Andrews; Professor in Public Policy, University of Glasgow
Hal Pawson, Associate Director - City Futures - Urban Policy and Strategy, City Futures Research Centre, Housing Policy and Practice, UNSW
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/housing-policy-reset-is-overdue-and-not-only-in-australia-112835" target="_blank">original article</a>.
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Housing policy reset is overdue, and not only in Australia

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Vietnamese food truck Nuoc Mama will open its first bricks and mortar site on Sydney Road in Brunswick.
Situated at Shop 2, 623 - 625 Sydney Road, the 160 sqm ground floor space is at the base of the 29-apartment Cannatella mixed-use development by Westlock Pty Ltd.
Fitzroys Agency Executive, Ervin Niyaz negotiated the 4+4+4-year lease to Tian Con and Co. Pty Ltd, trading as Nuoc Mama, at $47,000 per annum net.
“Brunswick is renowned for its eclectic lifestyle and hospitality offering, and Nuoc Mama will be able to capitalise on the strong following it has generated while adding a unique offering to this section of Sydney Road,” Niyaz said.
According to realestate,com.au listing views, Brunswick remains one of Melbourne’s most sought-after apartment markets in 2019.
There are approximately 1,500 apartments in the area that have either been recently completed or are in various stages of planning and construction.
According to Fitzroys’ Walk the Strip report, retail vacancies along the stretch of Sydney Road from Victoria Street up to Moreland Road came down from 10.2% in 2017 to 6.5% last year.
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Vietnamese food truck operator open eatery in Brunswick

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FDM Group, a global Recruit, Train and Deploy (RTD) company, has begun its tenancy at the International Towers, Tower Three at Barangaroo. 
FDM joins tenants the likes of the Green Building Council of Australia (GBCA), Indigenous performing arts company Bangarra Dance Theatre, and global fintechs CMC Markets and OnMarket. 
Among others including, KPMG, law firm Gilbert + Tobin, global reinsurer Swiss Re Lendlease, which developed International Towers Sydney, Westpac Group and Visa.
FDM’s Chief Executive Officer, Mr Rod Flavell, said "Sydney is a really important area for us to invest in and APAC has proved to be a fantastic region for the business to grow in.
International Towers General Manager, Mr Tony Byrne said FDM Group was an impressive addition to the high-growth, tenant partner roster being established within the two towers. 
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Global RTD company FDM begins tenancy at International Towers, Barangaroo

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Major mailing house and distribution company DMC - Direct Mail Corporation - has relocated to a new West Heidelberg location 600 metres away.
DMC moved to a 7,440 sqm industrial building at 26 Dougharty Road, West Heidelberg in a transaction negotiated by Gray Johnson. 
Their move has left a 2,100 sqm Richmond site available at 158 Murphy Street Richmond (pictured in title) vacant. 
The building, featuring an office component of 200 sqm has found a new tenant in the form of Harvey Norman 
Harvey Norman signed a sub tenancy for the two years and six months term that remained on the DMC lease. 
Gray Johnson agent Rory White said "the sub-lease is at an annual rental of $325,000 gross plus GST with fixed annual rental increases of 4 %”. 
Mr White says that Harvey Norman proposes to use the property as a bulky goods store and dispatch centre in support of their Richmond retail outlet at 479 Bridge Road. 
“The two properties are located either side of the Burnley Street - Bridge Road intersection and are diagonally roughly 600 metres apart” Mr White concluded.
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Harvey Norman sub-leases former DMC Richmond property 

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A High Street office building in Brisbane’s inner-city suburb of Toowong has sold to the University of Queensland (UQ).
The University of Queensland (UQ), which has its main campus in the neighbouring suburb of St Lucia, bought the 74 High Street property with vacant possession.
It intends to occupy the office in the future.
With over 4,000 sqm of net lettable area (NLA) the building has a basement car park with space for 43 vehicles.
Set on 1,827 sqm of land is has over 80 sqm of frontage to High Street.
Christian Sandstrom, Matt Barker and Ben McGrath of Knight Frank negotiated the sale of the property following an expressions of interest campaign.
Mr Sandstrom saidm "numerous offers were received at the close of the campaign with particular strong interest from a number of local companies wishing to acquire the property for their own occupation given the cost advantage compared to leasing their premises."
Mr Barker said 74 High Street presented a unique opportunity to purchase a quality office building located in the popular inner western suburb of Toowong.
“The area surrounding 74 High Street is continuing to experience valuable development and investment, and has the potential for redevelopment.
“It was 100 per cent leased to Allianz Global Assistance, but this tenant moved out in January this year after occupying the building for 15 years.”
University of Queensland Property and Facilities Director Steve Dickson said the purchase would help meet the university’s project planning and space requirements during a five-year capital works program at the St Lucia campus.
“It’s close proximity to St Lucia with good transport links will ensure that it remains a strategic part of our estate planning into the future,” he said.
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University of Queensland purchases Toowong office building

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A 41,000 sqm land parcel in a South West Sydney's Gregory Hills, has been listed for sale. 
CBRE’s Peter Vines and Nick Willis have been appointed to sell the site located in the Gregory Hills Corporate Park.
The park is a 30 ha master planned development situated 53km from the Sydney CBD.  
The site - The Precinct @ Gregory Hills– is available for immediate development, equipped with an existing DA for a mixed-use project comprising large format retail premises, food and drink premises and recreation facilities.  
The Gregory Hills Corporate Park consists of three main precincts; Soma Lifestyle – an approved large format retail centre incorporating leisure and entertainment; Soma Wellness – a completed mixed use medical precinct; and Camden Medical Campus – an approved large-scale private hospital plus a second smaller private paediatric hospital and day surgery.  
Mr Vines said the opportunity to acquire a substantial footprint in one of Sydney’s most transformative regions would ignite strong buyer interest. 
“Strong population growth and the ongoing anticipation of the Badgerys Creek Airport continue to position South West Sydney as an extremely sought-after region. It is extremely rare for a landholding of this nature – scale, location and development approval – to come the market, which will fuel strong buyer interest from owner occupiers, industrial and retail developers,”
“Adding to the appeal of this site is the current lack of industrial and large format retail opportunities for owner occupiers in South West Sydney."
"While the site has an existing DA in place for a large format retail centre, the flexible B5 zoning, coupled with the strength of the industrial market, will also attract interest from developers and investors that will value in other uses," he concluded.
Mr Willis added, “significant infill retail development sites of this nature are seldom offered to the market, particularly in metropolitan Sydney."
"The catchment is underserviced and demanding for a superior level of retail development to be delivered. This precinct is positioned and designed to be the next premier Sydney lifestyle and large format retail destination.”
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40,000 sqm site with DA in South West Sydney's Gregory Hills listed

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The property group, <a id="LPlnk1025" href="https://p4bne.sharepoint.com/Current%20Clients/31BB/Media%20Materials/optimusdevelopments.com.au" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Optimus Developments</a>, has announced the appointment of Alex Windsor as it's new CEO.
Earlier this year Alex Windsor (pictured below) officially joined the business.
He had previously been working on behalf of Optimus Developments for more than four years as Development Director on the EQ Tower, a 65-level residential project comprising 634 apartments in the heart of Melbourne’s CBD.
Mr Windsor brings more than 15 years of industry experience across architecture, engineering, construction and project management.
Originally from England, Mr Windsor moved to Australia in 2004 and was employed by boutique property company Sinclair Brook in an advisory capacity, before becoming Associate Director and staying at the firm for more than 10 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/2019/3/14/thumbnail_image013.jpg" alt="" width="240" height="240">
Mr Windsor believes the country’s economic stability ensures a promising future for investors. 
“Australia really is a safe haven for investment compared to the global uncertainty from Brexit and the US/China trade war and our view is that 2019 will remain flat with some market sectors under or over performing,” Mr Windsor said.
“With a strong renewal of market sentiment in 2020, an increased availability of capital funding for mortgages and overall a much more positive outlook and environment for the residential property market, I’m confident we will see the sector continue to grow.”
Mr Windsor added that the company’s upcoming activity remained strongly in providing premium residential options to Australians, though expanding in new areas was also on the cards. 
“We are very focused on Australia’s Eastern Seaboard and specialising in all things residential,” he said.
“That said, we are also interested in diversifying our portfolio to include industrial and commercial assets for long term yield generation and redevelopment opportunity.”
He is currently focused on Optimus Developments making its début into the Queensland property market following the 2017 launch of the $65 million beachside development, 31 Broadbeach.
“With construction of 31 Broadbeach well underway, I'm personally very excited to see this project come to life in my new role as company CEO.”
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Optimus Developments welcomes new CEO

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Matrix Property has sold a development site in the Warnervale Town Centre. 
This subdivision site was bought by a Hong Kong developer who has appointed a local project manager.
The 5.6 hectare residential sub-division site along Hiawatha Road has planning for up to 85 lots and incorporates over 6,000 sqm of dedicated parkland. 
The property is part of the master-planned Warnervale Town Centre, one of the Central Coast's largest development and growth areas projecting 40,000 new residents over the next 20 years. 
It was sold under instruction from the mortgagee for $6.4 million. 
The site has 2 existing frontages via Hiawatha and Hakone Roads. 
“The EOI attracted over 80 enquiries and over 8 offers as it’s a vanilla subdivision site in a major land release area” Commented Godfrey Franz – Head of Central Coast/ Hunter for Matrix Property Group, a specialist Development Site Commercial Sales Agency. 
“Further the area is popular with first home buyers at lower prices hence the popularity of the offering to potential developer buyers producing housing product in the sub $700K price point” 
“Despite the anxious outlook for property we are not seeing it and given the success of this campaign we are seeing many confident and cashed up developers coming back into the market ” he concluded.
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