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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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>
EXPERT OBSERVER
Urgent and radical change in urban transport policies and practices will benefit the planet and future generations.
The UN Intergovernmental Panel on Climate Change recently warned that <a href="https://www.theguardian.com/environment/2018/oct/08/how-the-un-climate-panel-ipcc-got-to-15c-threshold-timeline" target="_blank">global warming could reach 1.5℃ as early as 2030</a>. The landmark <a href="http://www.ipcc.ch/report/sr15/">report</a> by leading scientists urged nations to do more to avert an impending crisis.
<a href="https://www.vox.com/2018/10/8/17948832/climate-change-global-warming-un-ipcc-report" target="_blank">We have 12 years</a>, the report said, to contain greenhouse gas emissions. This includes serious efforts to reduce transport emissions. 
In Australia, transport is the <a href="https://www.climatecouncil.org.au/resources/transport-fact-sheet/" target="_blank">third-largest source of greenhouse gases</a>, accounting for around <a href="/news">17% of emissions</a>. Passenger cars account for <a href="https://www.climatecouncil.org.au/resources/transport-fact-sheet/" target="_blank">around half of our transport emissions</a>.
The transport sector is also one of the strongest factors in emissions growth in Australia. Emissions from transport have <a href="/news">increased nearly 60% since 1990</a> – <a href="https://www.climatecouncil.org.au/resources/transport-fact-sheet/" target="_blank">more than any other sector</a>. Australia is ranked <a href="https://aceee.org/research-report/i1801" target="_blank">20th out of 25 of the largest energy-using countries for transport energy efficiency</a>.
Cities around the world have many opportunities to reduce emissions. But this requires renewed thinking and real commitment to change.
Our planet can’t survive our old transport habits
Past (and still current) practices in <a href="https://theconversation.com/australian-infrastructure-plan-has-some-way-to-go-to-give-our-cities-what-they-need-54954" target="_blank">urban and transport planning</a> are fundamental causes of the transport problems we face today.
Over the past half-century, cities worldwide have <a href="https://theconversation.com/density-sprawl-growth-how-australian-cities-have-changed-in-the-last-30-years-65870" target="_blank">grown rapidly, leading to urban sprawl</a>. The result was high demand for motorised transport and, in turn, increased emissions.
The traffic gridlock on roads and motorways was the catalyst for most transport policy responses during that period. The solution prescribed for most cities was to <a href="https://theconversation.com/stuck-in-traffic-we-need-a-smarter-approach-to-congestion-than-building-more-roads-84774" target="_blank">build out of congestion by providing more infrastructure for private vehicles</a>. Limited attention was given to <a href="https://theconversation.com/on-the-road-research-can-improve-transport-across-australia-43643" target="_blank">managing travel demand</a> or improving other modes of transport.
Equating mobility with building more roads nurtured a tendency towards increased motorisation, reinforcing an ever-increasing inclination to expand the road network. The result was a range of unintended adverse <a href="http://www.oecd.org/economy/rethinking-urban-sprawl-9789264189881-en.htm" target="_blank">environmental, social and economic consequences</a>. Most of these are rooted in the high priority given to private vehicles.
What are the opportunities to change?
The various strategies to move our cities in the right direction can be grouped into four broad categories: avoid, shift, share, and improve. Major policy, behaviour and technology changes are required to make these strategies work.
Avoid strategies aim to slow the growth of travel. They include initiatives to reduce trip lengths, such as <a href="https://theconversation.com/higher-density-and-diversity-apartments-are-australia-at-its-most-multicultural-97176" target="_blank">high-density</a> and <a href="https://theconversation.com/a-place-to-live-work-and-play-why-mixed-use-developments-are-making-a-comeback-73142" target="_blank">mixed land use developments</a>. Other options decrease private vehicle travel – for example, through car/ride sharing and <a href="https://www.gizmodo.com.au/2015/12/how-to-fix-traffic-congestion-in-australia/" target="_blank">congestion pricing</a>. And <a href="https://theconversation.com/go-forth-and-telework-but-will-it-work-for-you-10682" target="_blank">teleworking</a> and e-commerce help people avoid private car trips altogether.
Shanghai’s Hongqiao transport hub is a unique example of an <a href="https://uic.org/cdrom/2013/nextstation/doc/proceedings/3Ajianping.pdf" target="_blank">integrated air, rail and mixed land use development</a>. It combines Hongqiao’s airport, metro subway lines, and regional high-speed rail. A low-carbon residential and commercial <a href="https://www.usgbc.org/articles/building-shanghai-tomorrow-hongqiao-cbds-low-carbon-transportation-hub">precinct</a> surrounds the hub.
<a href="https://images.theconversation.com/files/246775/original/file-20181122-161609-x8oxhj.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/246775/original/file-20181122-161609-x8oxhj.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Layout of Shanghai Hongqiao integrated transport hub.<a href="https://www.researchgate.net/figure/Layout-of-Shanghai-hongqiao-integrated-transport-hub-SHITH_fig1_309453749"> </a>
Shift strategies encourage travellers to switch from private vehicles to public transport, walking and cycling. This includes improving bus routes and service frequency.
<a href="https://theconversation.com/stuck-in-traffic-we-need-a-smarter-approach-to-congestion-than-building-more-roads-84774" target="_blank">Pricing strategies</a> that discourage private vehicles and encourage other modes of transport <a href="https://www.ted.com/talks/jonas_eliasson_how_to_solve_traffic_jams" target="_blank">can also be effective</a>. Policies that include <a href="https://www.theguardian.com/money/2018/jul/02/norway-electric-cars-subsidies-fossil-fuel" target="_blank">incentives</a> that make electric vehicles more affordable have been shown to encourage the shift.
Norway is an undisputed world leader in electric vehicle uptake. <a href="https://www.theguardian.com/environment/2017/dec/25/norway-leads-way-electric-cars-green-taxation-shift" target="_blank">Nearly a third of all new cars sold in 2017 were a plug-in model</a>. The electric vehicle market share was expected to be as much as 40% within a year.
An electric vehicle charging station in the Norwegian capital Oslo. <a href="https://www.shutterstock.com/image-photo/electric-car-charging-station-oslo-eco-670494520?irgwc=1&amp;utm_medium=Affiliate&amp;utm_campaign=TinEye&amp;utm_source=77643&amp;utm_term="> </a>
Share strategies affect car ownership. New sharing economy businesses are already moving people, goods and services. Shared mobility, rather than car ownership, is providing city dwellers with a real alternative.
This trend is likely to continue and will pose significant challenges to car ownership models.
Uber claims that its <a href="https://www.uber.com/en-IN/blog/mumbai/onestepforward-with-uberpool/" target="_blank">carpooling service in Mumbai</a> saved 936,000 litres of fuel and reduced greenhouse gas emissions by 2,662 metric tonnes within one year. It also reports that <a href="http://www.cityam.com/242760/uber-reveals-london-ride-sharing-figures-for-uberpool" target="_blank">UberPool in London</a> achieved a reduction of more than 1.1 million driving kilometres in just six months.
<img src="https://images.theconversation.com/files/244778/original/file-20181109-35554-ym7dj5.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
UberPool is available in inner Melbourne suburbs. Trip must begin and end in this area.
Improve strategies promote the use of technologies to optimise performance of transport modes and <a href="https://theconversation.com/intelligent-infrastructure-when-roads-and-vehicles-talk-to-each-other-7865" target="_blank">intelligent infrastructure</a>. These include <a href="https://www.weforum.org/agenda/2015/03/why-our-cities-need-smart-transport/" target="_blank">intelligent transport systems</a>, urban information technologies and emerging solutions such as <a href="https://www.itf-oecd.org/files/urban-mobility-system-upgrade" target="_blank">autonomous mobility</a>.
Our <a href="https://www.tandfonline.com/doi/abs/10.1080/23249935.2018.1528485?journalCode=ttra21" target="_blank">research</a> shows that sharing 80% of autonomous vehicles will reduce net emissions by up to 20%. The benefits increase with wider adoption of autonomous shared electric vehicles.
Autonomous vehicles can offer first- and last-kilometre solutions, especially in outer suburbs with limited public transport services. <a href="https://www.shutterstock.com/image-photo/iot-smart-automotive-driverless-car-artificial-794528215?irgwc=1&amp;utm_medium=Affiliate&amp;utm_campaign=TinEye&amp;utm_source=77643&amp;utm_term="> </a>
The urgency and benefits of steering our cities towards a path of low-carbon mobility are unmistakable. This was recognised in the past but progress has been slow. Today, the changing context for how we build future cities – smart, healthy and low-carbon – presents new opportunities.
If well planned and implemented, these four interventions will collectively achieve transport emission reduction targets. They will also improve access to the jobs and opportunities that are preconditions for sound economic development in cities around the world.<img src="https://counter.theconversation.com/content/106076/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/hussein-dia-110689" target="_blank">Hussein Dia</a>, Chair, Department of Civil and Construction Engineering, <a href="http://theconversation.com/institutions/swinburne-university-of-technology-767" target="_blank">Swinburne University of Technology</a>
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/four-ways-our-cities-can-cut-transport-emissions-in-a-hurry-avoid-shift-share-and-improve-106076" target="_blank">original article</a>.
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Four ways our cities can cut transport emissions in a hurry

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Strong trading has prompted healthy food purveyors and café Cocomamas to expand into a nearby bigger space within its home suburb of Elsternwick.
It will move around the corner to an 80sqm space on busy Glen Huntly Road following a deal negotiated by Fitzroys agent Jordan Ceppi, following a high level of demand for the space from hospitality operators.
Ceppi negotiated the 4x4-year deal for <a href="https://www.realcommercial.com.au/property-retail-vic-elsternwick-502917398" target="_blank">341 Glen Huntly Road</a> at $55,000 per annum on behalf of a private investor.
“Cocomamas will move from their smaller premises of 20sqm that has served them well in their formative period, and their strong performance has prompted the operators to take the next step in its journey,” Ceppi said.
Ceppi said the precinct’s offering of national and well regarded local tenants and operators had benefited from numerous mixed use developments recently completed and in various stages of planning, bolstering the immediate residential catchment.
“Glen Huntly Road has developed an attractive lifestyle and hospitality offering, bringing people to the precinct across all hours,” he said.
“A large proportion of Melbourne’s rapid population growth is being accommodated in the inner- and middle-suburban retail strips, generating sustained local demand for hospitality and retail services in particular.”
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Cocomamas cafe expands in Elsternwick

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EXPERT OBSERVER 
Our quarterly surveys of sales activity always reveal key trends and the latest shows just how many growth markets we have in the different markets across Australia.
The smaller capital cities and in particular regional Australian are providing some compelling growth areas which provide an attractive combination of affordable prices and solid rental yields, compared to the now-fading markets in the biggest cities.
Here are four key findings from the new edition of The Price Predictor Index:-
1. Adelaide Is the Unsung Hero
Hotspotting’s latest survey confirms that Adelaide is the standout market in capital city Australia and is largely an unheralded star – although we note the latest report from realestate.com.au which lists Adelaide alongside Hobart as the fastest-selling markets in the country. 
Adelaide seems destined to always fly under the radar screen of national media, but it has a noteworthy property market. 
We reported in the previous edition that Adelaide had become the nation’s leading market jurisdiction, with 61 suburbs with rising sales activity. Our new survey reveals Adelaide has improved further and now has 71 growth suburbs. 
The next best city is the recovering Perth market, which has 49 (up from 45 in the winter survey). Canberra is also travelling well, with a solid (relative to its size) 22 upwardly-mobile suburbs. 
Brisbane remains lukewarm, but with promise of better things, and Hobart, which is currently the leading city on price growth, looks to have passed the peak of its up-cycle. 
Darwin remains mired in its downturn. As noted in previous reports, Sydney and Melbourne are well past their peaks and have few growth markets.
2. Regional Markets Out-do Their Capital Cities
Regional areas continue to out-perform their capital cities in the eastern states. 
Regional NSW is the only serious challenger to Adelaide as the market jurisdiction with the most rising markets and now has considerably more growth markets than Sydney. 
Regional Victoria is also pumping and is out-performing the fading Melbourne market. 
Regional Queensland is out-doing Brisbane, which is yet to fire. And Regional Tasmania is raging in the wake of Hobart’s mini-boom. 
This is also being reflected in price performance. The strongest price growth in the past 12 months has occurred in selected Regional Victoria markets, while Regional NSW has multiple precincts where double-digit annual price growth has been recorded. 
The strongest market in Queensland is the Sunshine Coast and we are seeing a return to solid price growth in recovering Central Queensland markets like Mackay. A recent REIQ report confirmed that Regional Queensland was out-doing Brisbane on price uplift and a CoreLogic analysis in November listed Regional Tasmania as a national leader on price growth.
3. Price Patterns Confirm The Importance Of Demand Data
Price performance around Australia in the past 12 months has emphatically confirmed the basic premise of The Price Predictor Index: that increases in sales volumes (buyer demand) in a location leads to price growth, but with a time lag. 
The time lag factor often means that price uplift continues for a considerable time after sales activity has started to taper off. 
Right now, many of the locations around Australia with the biggest price growth are what we classify as “plateau” markets – places where sales activity has passed its peak and tapered off at still-solid levels a little below the peak. 
A prime example is provided by the outer ring suburbs of Melbourne, where sales were previously rising strongly and have now tapered off – but prices are still rising. This is true for suburbs in the Whittlesea, Hume, Casey and Wyndham LGAs, where most suburbs have recorded growth above 10% in the past 12 months, including many which have recently topped 20% growth. 
This is also true for the suburbs of Greater Geelong and other areas just outside Melbourne, including Pakenham, Officer and Warragul in the south-east. New South Wales examples include the Central Coast and the City of Newcastle.
4. Big City Prices Stronger Than Media Suggests
Mainstream media is over-stating price decline in our two biggest cities, partly caused by dodgy data and analysis from some of the research companies and partly through the ineptitude of economists, who pontificate on subjects beyond their area of expertise, notably residential property markets. 
Our detailed analysis of recent activity in Sydney and Melbourne has found evidence of price decline in some markets, but not the wholesale large decreases claimed in daily newspaper reporting. 
In our analysis of Melbourne we say this: “A feature of Melbourne is the number of locations where prices remain strong … Our survey has found over 100 suburbs across the metropolitan area where median prices have recorded double-digit growth in annual terms, including 85 where prices have risen further in the most recent quarter. This finding contradicts media coverage, which suggests prices are falling across the Melbourne metropolitan area. The general theme, based on our survey, is that the top end suburbs are experiencing price decline, the middle market areas are holding firm on pricing and the cheaper areas are still rising.” 
Prices are weaker in Sydney, but we can find few locations with sufficient decline to justify claims that Sydney prices are down 8% in annual terms (CoreLogic figures). Few individual suburbs have fallen that much, as yet.
And I note that the latest figures from other research sources, including SQM Research, Domain and the ABS, record Sydney’s price decline in smaller numbers. 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Four standout trends in the end of 2018 Australian property markets: Hotspotting's Terry Ryder

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Global mens health charity Movember Foundation has called on CCWS Interiors to fit out the London HQ for the second time.
The HQ, in the creative district of Farringdon, is set among art galleries and a thriving entertaining precinct with bars and restaurants.
 The 555 sqm space is the hub for the Movember workforce to collaborate, initiate and implement its objective to bring men's health to the forefront of public conversation.
<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/2018/11/27/Mov1.jpg" alt="">
CCWS Interiors' David Keane and Amy Elliott headed up the project.
They were tasked with transforming the open-plan office into an inspirational environment that reflected the ethos and brand identity of the organisation.
The brief was to upgrade the office design and create an environment that better matched the people, brand and culture behind Movember.
<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/2018/11/27/Mov3.jpg" alt="">
 
Providing a base for both local and visiting international teams, the newly-configured office needed to easily ‘expand-and-contract’ as required during busy campaign periods. 
Over a six-week period, CCWS delivered flexible workspaces, hot desks and hot-booth-meeting areas to encourage collaboration and introduce both formal and flexible productivity areas. 
The traditional concept of ‘one desk, one employee’ was thrown out in favour of this interactive co-working model, whilst also catering to introspective work styles with semi-enclosed booths.
<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/2018/11/27/Mov4.jpg" alt="">
 
When looking to the interior aesthetics, the refit was characterised by industrial design elements, seen in the use of rustic wood cladding and exposed metal fixtures, alongside playful detailing throughout and the company’s signature ‘moustache’ symbol displayed with pride.
When adding the final touches to the Movember office design, David and Amy collaborated with the Movember team to introduce some famous moustache owners to the office décor; fancy a catch up in the Chaplin, Mercury or Einstein room?
 
 
 
 
 
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jrobinson-rf4aSBido9

Movember Foundation gets new London HQ office fitout

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Dramatically changing property markets have seen a new breed of commercial building chameleons across Melbourne, with plans to turn offices into apartments being abandoned in favor of returning to office space.
According to CBRE national director of investments Mark Wizel, while the long term prospects for large scale residential projects remain positive, Melbourne’s booming office market has made office development the compelling shorter term alternative.
"Residential is in a cyclic downturn but make no mistake it will recover as Melbourne’s population continues to outpace the rest of Australia’s capitals, however currently the case for office development is extremely good with solid rental growth, reducing incentives, and vacancy, at 3.6 per cent, at its lowest point in a decade," Wizel said.
"We are also talking about delivering new office stock into not only Australia’s fastest growing city but also the best performing economy nationally.
"That augurs well for continued growth in the market as the economy drives jobs growth and increasing demand for office space,’’ Wizel said.
According to the latest ABS data, Victoria’s annual growth in trend employment stood at 2.6 per cent with 30.5 per cent of the 20,300 average monthly increase in employed full-time persons nationally over the past 25 months. At September the unemployment rate stood at 4.5 per cent, the lowest rate in seven years. 
Wizel said Melbourne’s cheaper office rents, more affordable housing and generally lower cost of living, was also attracting office tenants away from the Sydney market. 
"The attraction to set up in Melbourne has always been there but there is no doubt that Sydney’s eye-watering cost of housing, in particular, is arguably having a greater impact than has hitherto been the case.   
"As a consequence of a number factors the demand for office development sites in the last couple of months has been off the charts and, with the current shortage of available sites, land values are really under pressure especially for well-located sites where a reasonable size floor plate can be achieved,’’ Wizel added.
He said he expected the office development site market to continue to tighten into the new year as work began and continued on some of the biggest infrastructure projects in Victoria’s history including the $16 billion North East Link and the $11 billion Metro Tunnel projects.
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Offices to apartments back to offices: The changing property landscape in Melbourne

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In 2017/18, real economic output grew by 2.8% nationally, accelerating from 2.3% in 2016/17, according to the latest State by State Growth Report from Westpac.
The NSW economy performed over the past four years with output growth averaging an above trend 3.1% - the strongest four year performance for the state since the late 1990s.
The report found: "output growth was 2.8% in 2014/15, surging to 4.0% in 2015/16 and then moderating to 3.1% in 2016/17 and 2.6% in 2017/18 particularly as housing has become less supportive."
By industry, agriculture, real estate and professional services led the growth moderation in 2017/18.
Construction added a 0.4ppts to growth with broad strength as investment responded to the growing needs of a rising population.
<img src="https://www.urban.com.au/images/2018/11/22/WESTPAC%20NSW.JPG" alt="">
The Victorian economy has been performing strongly, in particular, driven by a population boom.
Output growth was 3.5% in 2017/18, matching the average for the past four years but down from on last year.
Andrew Hanlan, the report author, noted: "State demand grew to 4.7% in 2017/18, up from 4.2%, the fastest pace in a decade.
"On a per capita basis, output grew by 1.2% in 2017/18, in line with the national average.
"Construction remained a key growth driver."
<img src="https://www.urban.com.au/images/2018/11/22/WESTPAC%20NSW%202.JPG" alt="">
In Western Australia output bounced back from a 1.8% decline this year to grow by 1.9% this year.
The construction sector added 0.2ppts to activity in 2017/18, a turnaround from a 2.6ppts drag in 2016/17.
Mining output was a key growth driver, adding 0.8ppts, with new capacity coming on stream, according to the report.
"Consumer related sectors were subdued, significantly underperforming gains across the rest of the country as household incomes remained under pressure," Hanlan said.
<img src="https://www.urban.com.au/images/2018/11/22/WESTPAC%20NSW%204.JPG" alt="">
The Queensland economy grew 3.4%, the strongest levels since 2011/12.
Construction added 0.4ppts to activity, a turnaround from a -0.1ppts impact in 2016/17 and from the sharp negatives in 2014/15 and 2015/16.
"srowth was broadly based across a range of business sectors, indicative of an improvement in underlying conditions," Hanlan said. 
<img src="https://www.urban.com.au/images/2018/11/22/WESTPAC%20NSW%203.JPG" alt="">
The South Australian economy expanded by 2.0%, slightly reduced on last year's 2.4% but in line with the long term average.
This is an improvement on the previous six years, when growth averaged just 0.9%.
Andrew Hanlan found: "the health sector added an exceptional 0.8ppts to activity, well above the national average (0.4ppts) boosted by the progressive roll-out of the National Disability Insurance Scheme.
"Construction advanced, +0.3ppts, after three years of modest negatives, with home building and business investment expanding," he added.
<img src="https://www.urban.com.au/images/2018/11/22/WESTPAC%20NSW%205.JPG" alt="">
The 2017/18 year was a standout for Tasmania, with output growth of 3.3%, a doubling of the 1.5% rise in 2016/17 and the strongest post GFC result in a decade.
"Per capita output growth of 2.3% in 2017/18 was the envy of all other states," stated Hanlan.
"State final demand grew by 4.1% in the year, with broad based strength across the consumer, housing, business investment and public demand."
The health sector was a key growth driver, +0.7ppts.
Of the 19 broad industries, none were a drag on activity in 2017/18 - a relatively rare outcome, Hanlan said.
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How each state economy is performing: Westpac

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The Waverley Gardens Shopping Centre in Melbourne has been sold for $178 million.
A new joint venture between Elanor Investors Group, global firm Heitman and domestic institutional and wholesale capital partners were behind the purchase.
The 39,554 square metre sub-regional shopping centre is on a 106,000 square metre site 25 kilometres south-east of Melbourne’s CBD.
Major tenants account for 56% of total gross lettable area and it is anchored by Woolworths, Coles and ALDI supermarkets, as well as two discount department stores.
The sale was negotiated  by JLL’s Head of Retail Investments for Australasia, Simon Rooney, on behalf of Blackstone.
 “Sub-regional assets continue to appeal to yield-driven investors given the compression in yields in other retail sub-sectors and across other real estate sectors,” said Mr Rooney.
“We continue to see demand for retail assets where investors can progressively add value and drive enhanced returns, either via intensive asset management and/or development.
“Waverley Gardens offers an attractive and secure income return and provides future mixed-use development potential, given the extensive land parcel of 106,000 square metres.
“Investors are attracted to the high population growth in Victoria which is currently running at 2.2% per annum, now the strongest nationally.
“The state provides sound investment fundamentals with the economy underpinned by broad-based growth driven by strong growth in household consumption, tourism, infrastructure spending and business investment.
“Opportunities to acquire sub-regional centres in 2017 were limited, with sub-regional transaction activity falling to $1.1 billion, less than half the $2.3 billion (per annum) which sold between 2013 and 2016 – reflecting the volume and scale of portfolio sales in prior years.
“We have seen $1.3 billion transact in the year to date.”
The Waverley Gardens Shopping Centre in Melbourne has been sold for $178 million.
A new joint venture between Elanor Investors Group, global firm Heitman and domestic institutional and wholesale capital partners were behind the purchase.
The 39,554 square metre sub-regional shopping centre is on a 106,000 square metre site 25 kilometres south-east of Melbourne’s CBD. 
Major tenants account for 56% of total gross lettable area and it is anchored by Woolworths, Coles and ALDI supermarkets, as well as two discount department stores.
The sale was negotiated  by JLL’s Head of Retail Investments for Australasia, Simon Rooney, on behalf of Blackstone.
 “Sub-<a name="_GoBack" href=""></a>regional assets continue to appeal to yield-driven investors given the compression in yields in other retail sub-sectors and across other real estate sectors,” said Mr Rooney.
“We continue to see demand for retail assets where investors can progressively add value and drive enhanced returns, either via intensive asset management and/or development.
“Waverley Gardens offers an attractive and secure income return and provides future mixed-use development potential, given the extensive land parcel of 106,000 square metres. 
“Investors are attracted to the high population growth in Victoria which is currently running at 2.2% per annum, now the strongest nationally. 
“The state provides sound investment fundamentals with the economy underpinned by broad-based growth driven by strong growth in household consumption, tourism, infrastructure spending and business investment.
“Opportunities to acquire sub-regional centres in 2017 were limited, with sub-regional transaction activity falling to $1.1 billion, less than half the $2.3 billion (per annum) which sold between 2013 and 2016 – reflecting the volume and scale of portfolio sales in prior years.
“We have seen $1.3 billion transact in the year to date.”
 
 
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Joint investment venture snaps up Waverley Gardens Shopping Centre

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A 50 year old suburban Melbourne drive-in theatre - one of the last - has been sold for around $12.5 million, exceeding its price expectations of $11 million-plus.
Coburg Drive-In located at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-coburg+north-502955310" target="_blank">155 Newlands Road, Coburg North</a> is a 8.16ha site.
The owner of the drive-in — Village Roadshow Theatres Pty Ltd, a subsidiary of the ASX-listed Village Roadshow Limited — will lease it back for an initial 10-year term on a triple-net basis.
It has been bought by Charter Hall.
The site was marketed as "the last essentially undeveloped parcel of significant scale in Melbourne’s inner north.”
Located on Newlands Road, Coburg North, the drive-in has been operating since 1965 and has three screens — one each on the south-western, north-western and north-eastern points of the site.
At 33m wide each and overlooking an asphalt viewing area of 36,000sqm, the screens are up for debate as the biggest in the southern hemisphere.
<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/2018/9/14/Coburg%202.jpg" alt="">
A single-level retro-style diner and children’s playground are located centrally and the drive-in's ticket booth — topped by an old yellow Holden — is a local landmark.
Victorian Heritage describes it as “one of three (drive-ins) that remain in operation in Victoria out of approximately 60 at the height of drive-in popularity”.
 
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1960s suburban Melbourne, Coburg drive-in theatre sold for $12.5 million

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The recently refurbished ISPT foyer at 100 Creek Street has brought Brisbane’s subtropical environment into an office setting.
The lobby now opens up to an integrated state-of-the-art digital canvas wrapping around the lift core.
Along with new end of trip facilities the $10 million upgrade includes entry statements and sub-tropical gardens.
The dynamic curated content reflects ‘Elements of Queensland’ commissioned by local artists which exhibits the name of the building as digital morphing art.
ISPT Portfolio Manager for Commercial Services Mr Craig Blake said tenants and guests have respond well to the new 100 Creek Street vision.
“We are committed to creating places that work and look forward to continually evolving our environments to benefit all who work in and visit the building,” Mr Blake said.
Over the last 9 months 100 Creek Street has transacted over 3,000sq m across 11 transactions with an average rent of $685/sq m.
Savills’ Dan Boyes and John McDonald in conjunction with Andrew McPhail and James Comino of CBRE are jointly appointed to lease the balance of the available space.
“The works have repositioned 100 Creek Street as a market leader in the Brisbane CBD,” Mr Boyes said.
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State of the art foyer brings Brisbane outdoors in

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A private Melbourne investor has put a portfolio of five strip retail properties, across the suburbs of Richmond, Malvern, Armadale and Hampton, on market including a large High Street corner block.
Located at 1276 High St, Armadale (pictured below), the property comes with a lease expiring in 2022 with two, five year options at $98,711 per annum net. 
The auction is set for December 13.
<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/2018/11/26/1276%20High%20St.jpg" alt=""> 
Michael Ludski, one of the agents marketing the portfolio said Teska Carson had sold 19 strip retail assets worth more than $36 million on an average 3.55 per cent yield this year.
“Most of our sales this year have gone to local investors with local knowledge and a keen sense of where the market is likely to sit in a few years’ time as Melbourne gradually approaches Sydney’s population mantle," he said.
He says that there has been an "enormous spike" in enquiry for retail strip and strata commercial assets in the sub $5 million range over the last few months.
The properties, all leased and zoned Commercial 1, include:
128A Bridge Rd, Richmond – auction December 12 at 1pm on site, new two year lease with a two year option at $30,000pa net with 4% increases;
172 Bridge Rd, Richmond – auction December 12 at 12pm on site, leased to Sportsgirl at $94,759pa net (pictured above);
210 Glenferrie Rd, Malvern - auction December 13 at 12pm on site, leased to Foxes Den, which has four Melbourne outlets, at $100,981pa net;
401 Hampton St, Hampton - auction December 14 at 1pm on site, leased on a three year term with a three year option at $40,351pa net;
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