Gold Coast-based developer <a href="https://www.apartments.com.au/developers/ignite-projects">Ignite Projects</a> has lodged a Development Application for a landmark $120 million precinct set to transform the southern gateway of the much-loved Spit.

Positioned at the most prominent entry point to the iconic peninsula, the project has been designed with a strong focus on architecture, public space, heritage and connectivity, delivering a revitalised parkland setting that invites locals and visitors to engage with the Broadwater.

Central to The Isles proposal is a significantly upgraded public realm, including landscaped open space, a new waterfront café, and a family-friendly park featuring a naval-themed playground, open lawns and improved pedestrian connections.

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="de83a270-6091-4b26-bed0-86f9248e7f9e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%201.jpg?VersionId=vt79HlCOwV9F7eLQe9.Z3bv9JGLMaSP2" />

The design retains and celebrates key elements of the site’s history. The training mast from the vacant and degraded naval cadet building, which forms part of a former Navy minesweeper, will be preserved. The existing Navy Memorial will be relocated and upgraded in collaboration with the RSL, allowing it to be publicly accessible for the first time in years. 
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Heritage-listed Humphreys Boat Shed remnants will remain and be incorporated into the landscape, while the site’s established Norfolk Pines will be retained, reinforcing the area’s character and sense of place. The enhanced parkland will ultimately create a long-term community asset at the entry to The Spit. 
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The Development Application (DA) lodged with Gold Coast City Council includes 28 waterfront apartments across three levels, ranging in size from 145sqm to 383sqm, designed as a feature landmark within the precinct and complement the public domain.

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="bbf94e00-b56a-47fb-a15d-3d17b0b1ec76" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%203.jpg?VersionId=A0vmBNE_KohYJo1EoZcmF5IVW4tT5aDo" /> 
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Ignite Projects Director Josh Foote said the project as a whole had been carefully shaped to deliver a meaningful outcome for the wider community, not just future residents. 
&nbsp; 
“This is about more than delivering opulent apartments – it’s about creating a welcoming and memorable gateway to The Spit that people can enjoy every day,” Mr Foote said. 
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“We’ve worked hard to ensure the public realm is a central part of the project, from the landscaped parklands and family-friendly spaces through to the preservation and celebration of important local heritage.”

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="443bbde5-8221-45f8-a549-dad2623df20c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%204.jpg?VersionId=iUl6nc.sHkjMdo_1RigwbwUz_celHJ3H" /> 
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Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, The Isles adopts a considered subtropical approach, with the building form shaped to maximise natural light, cross ventilation and views to the Broadwater and surrounding parklands. 
&nbsp; 
Architect Rafael Contreras said the design responded directly to its unique coastal setting. 
&nbsp; 
“Rather than a typical built form, the architecture has been shaped by performance and experience – from optimising outlook and privacy to creating a strong connection to landscape and climate,” Mr Contreras said. 
&nbsp; 
“A central landscaped courtyard allows light, air and greenery to permeate the building, while the articulated façade introduces movement and rhythm inspired by the Broadwater.

“The Isles will create a place where people can gather, relax and connect with the water, while also delivering a refined residential product that responds to its unique setting.”

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="1089570d-1120-4302-9900-fb9f75c75c26" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%205.jpg?VersionId=pl9qmKZNbaL3A7XjmD7sjhLwmXaqzzLZ" /> 
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The DA relates to the residential and public realm components, with a proposed boutique marina to be progressed as part of a future stage, subject to separate approvals. 
&nbsp; 
The Isles is being delivered under The Spit Master Plan, a collaborative vision to create a new residential, tourism, leisure, natural environment and cultural heritage hub on the iconic and much-loved peninsula.&nbsp; 
&nbsp; 
Ignite Projects has an established track record delivering premium residential projects across the Gold Coast, including The Monaco at Main Beach and Cabana at Palm Beach. 
&nbsp; 
Sales for The Isles are expected to commence in coming months from an on-site display suite, with construction targeted to begin later this year, subject to approvals.

Joel Robinson

Ignite Projects unveils exciting details of landmark gateway precinct for the Spit

The Federal Government’s sweeping changes to negative gearing and capital gains tax could trigger an unintended consequence: a surge of investor demand into the new and off the plan apartment sector.

While Treasurer Jim Chalmers has framed the reforms as a way to improve housing affordability and rebalance the tax system, the carve-outs for newly built housing are already positioning off the plan apartments as one of the few remaining tax-effective property investment plays.

Under the changes handed down in the Federal Budget, investors purchasing established properties after budget night will no longer be able to access negative gearing benefits. The Government will also replace the long-standing 50 per cent capital gains tax discount with a new inflation-indexation model and introduce a minimum 30 per cent tax on gains from July 2027.

However, there is a major exemption.

Investors buying new builds, including off the plan apartments, will still be eligible for negative gearing and will be able to choose between retaining the current 50 per cent CGT discount or adopting the new indexed model.

That distinction is expected to reshape investor behaviour almost immediately.

For years, established housing has dominated investor purchases because of its perceived lower risk, immediate rental returns and stronger historical capital growth. But with the tax advantages now heavily skewed toward new housing supply, the economics are changing rapidly.

The Federal Government has been explicit about its intent.

“The housing market and tax system are broken,” Chalmers said ahead of the Budget, arguing that existing concessions were disproportionately rewarding speculation rather than supporting housing supply.

The Government says the reforms are designed to encourage investment into new housing rather than established stock, a move aimed at increasing supply during a prolonged housing shortage.

According to the official Budget papers, limiting negative gearing to newly built homes is intended to “better align tax incentives with housing supply objectives.”

For the apartment development sector, particularly the off the plan market, the changes could become one of the strongest investor tailwinds in years.

Developers across Sydney, Melbourne and Brisbane have spent the past two years battling elevated construction costs, higher interest rates and subdued investor confidence. Many projects have struggled to secure sufficient pre-sales to commence construction, particularly in markets heavily reliant on investor demand.

The Budget changes may now alter that equation.

Investors seeking tax-effective property exposure will increasingly find themselves funnelled toward newly built apartments simply because established dwellings no longer offer the same benefits.

Commonwealth Bank described the reforms as one of the most significant shifts to residential property investment settings in decades, noting that the package is centred around “limiting negative gearing for residential property to new builds” while replacing the existing CGT framework.

That could have profound implications for the apartment sector.

Off the plan apartments already hold several advantages for investors. Purchasers typically secure a property at today’s price while settlement occurs years later, allowing time for capital growth and reducing the upfront capital burden. Brand-new apartments also generally attract depreciation benefits, lower maintenance costs, and stronger appeal to renters seeking modern amenity.

Now, they may also become one of the only residential property types still offering the full suite of historical tax advantages.

Industry analysts expect investor demand to increasingly migrate toward projects that can clearly demonstrate strong rental demand, transport connectivity and long-term supply constraints.

The shift is likely to be particularly pronounced in apartment markets already underpinned by structural undersupply, including inner Brisbane, the Gold Coast, parts of Sydney’s Lower North Shore and select Melbourne precincts where new apartment commencements have collapsed over recent years.

The reforms also arrive at a time when apartment supply nationally remains critically constrained.

Australia is already struggling to meet the Federal Government’s target of delivering 1.2 million new homes over five years. Construction feasibility pressures have delayed or shelved thousands of apartments across the country, particularly as building costs remain elevated and financing conditions remain tight.

Critics of the Budget changes argue the reforms could reduce overall investor participation in the housing market and place upward pressure on rents by discouraging investment in established housing.

Some economists estimate the measures could reduce housing supply over the longer term if overall investor appetite weakens.

However, the Government is betting that redirecting investor capital into new housing supply will offset those concerns.

“To continue to incentivise construction of new housing, investors building new residential properties will be able to choose either the 50 per cent CGT discount or the new arrangements,” the Budget papers stated.

That wording has been closely watched by the development industry because it effectively positions new apartments as the preferred investment class within residential property.

For off the plan developers, the reforms could become a powerful sales tool.

Projects that have increasingly relied on owner-occupier demand may once again attract investors seeking to preserve the tax advantages still attached to newly built housing before the July 2027 changes take effect.

The reforms are also expected to sharpen the divide between established and new housing markets.

Rather than a broad investor retreat from property altogether, many analysts expect a redistribution of capital toward sectors still supported by Government incentives.

That could create stronger demand for apartment projects in key urban growth corridors and transit-oriented precincts where population growth, migration and rental shortages remain elevated.

The policy direction also aligns with the Government’s broader push toward increasing housing density in established urban areas.

Across Sydney, Brisbane and Melbourne, planning reforms are increasingly encouraging higher-density apartment development around transport infrastructure and activity centres. By maintaining tax incentives for new housing, the Federal Government is effectively reinforcing that agenda from a taxation perspective.

For apartment developers who have spent years navigating subdued investor confidence, the changes may ultimately become the catalyst that reactivates parts of the off the plan market.

While the broader property sector is still digesting the long-term implications of the Budget, one thing is already becoming clear.

The era of investors buying established apartments and houses primarily for tax advantages may be ending.

But for off the plan apartments, the investment story may just be beginning.

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Investors to flood off the plan apartment market?

Adding to Chatswood’s growing skyline, <a href="https://www.apartments.com.au/new-apartments/the-anderson-chatswood-54-56-anderson-street-chatswood-nsw-2067">The Anderson</a> is grounded in a simple principle: apartment living in a major centre does not have to come at the expense of space and outlook.

Set on Anderson Street in the heart of <a href="https://www.apartments.com.au/developments/chatswood-nsw-2067">Chatswood</a>, the new residential tower, a collaboration between developers <a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a> and <a href="https://www.apartments.com.au/developers/huirong-group">Huirong Group</a> with architecture and interiors by <a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>, will introduce 122 apartments that prioritise generous proportions, considered orientation, and a strong connection to the surrounding heritage precinct.

The design originated from a Design Excellence Competition, where AJC proposed a building that combines suburban-style apartment scale with the density expected in a transport-rich centre. The development will include more than 1,800 square metres of retail and commercial space at street level, landscaped communal roof terraces, and a ground-floor pocket park framed by canopy trees. Together these elements aim to create a building that integrates with Chatswood’s evolving streetscape while maintaining a strong residential focus.

[smartcode_project:default project_id=151353 project_image_fid=353250]

A key driver behind the architecture was the desire to deliver family-sized apartments rarely seen in the Chatswood market. The Anderson includes a mix of one to four-bedroom apartments, with around 35 per cent of the residences configured as three or four-bedroom homes. At the top of the building, two double-storey penthouses span approximately 200 square metres each, reinforcing the project’s emphasis on scale and long-term liveability for both downsizers and intergenerational households.

Orientation and outlook were central to the planning of the building. The apartments are positioned to maximise views to the north and east across Chatswood’s heritage precinct, with upper levels capturing glimpses of the Pacific Ocean. South-facing apartments gain distant views toward the Sydney CBD and Harbour Bridge, while the building’s configuration intentionally reduces western exposure at lower levels to minimise overlooking toward the nearby railway corridor.

The external design references the character of the surrounding conservation area without replicating it directly. A brick podium anchors the building to the street and introduces a series of architectural portals that draw inspiration from the nearby Chatswood Presbyterian Church. Above this base, the tower shifts to a lighter, more open expression defined by horizontal lines and carefully detailed balconies that balance privacy with outward views.

[smartcode_project:default project_id=151353 project_image_fid=353254]

Toward the top of the tower, AJC introduces a distinctive lantern-like element formed by sliding screens. These screens provide both solar shading and privacy while also creating a visual marker for the building within the Chatswood skyline. The feature reinforces the architectural intent of the project, a structure that is visually refined while still responding to the practical requirements of apartment living.

Inside the residences, interior architecture focuses on clear spatial flow and practical everyday use. Open-plan living areas connect directly to large balconies, extending the internal living spaces outward and allowing natural light to move deeper into the apartments. Kitchens are designed as central working spaces with premium appliances and carefully selected materials, positioned to serve both daily living and entertaining.

[smartcode_project:default project_id=151353 project_image_fid=353256]

Bathrooms follow a similarly restrained design language, using refined fixtures and materials to create calm, functional spaces, while wardrobe areas adopt a gallery-style layout with integrated lighting and generous storage. These elements reflect a broader design approach that prioritises clarity, functionality, and durability over decorative gestures.

Positioned just a short walk from Chatswood Interchange, residents will have direct access to rail, metro, retail, and dining. The Metro extension allows travel from Chatswood to Martin Place in approximately 11 minutes, placing the CBD within easy reach for residents while maintaining the convenience of a walkable North Shore neighbourhood.

One-bedroom apartments at The Anderson start from $1,022,000.

[smartcode_project_cta:default project_id=151353]

How AJC designed The Anderson to bring oversized apartment living to Chatswood

<a href="https://www.apartments.com.au/developers/bridgewell-development">Bridgewell Capital</a> has lodged plans for a major mixed-use apartment development in the heart of Maroubra, seeking a significant uplift in height and density controls to deliver 120 apartments and a 120-place childcare centre near Maroubra Junction.

The State Significant Development application, filed through the NSW Government’s Housing Delivery Authority pathway, covers a 3,270 sqm amalgamated site at 251-257 Maroubra Road and 133-135 Garden Street. The proposal includes a concurrent rezoning that would increase the maximum building height from 12 metres to 35.6 metres and lift the floor space ratio to 4.02:1.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the project would replace a mechanic’s workshop and several detached homes with a 10-storey residential building above four basement levels.

The scheme comprises 120 apartments, including 27 affordable housing units to be managed by a community housing provider for 15 years, alongside 203 basement car spaces and 92 bicycle spaces. A childcare centre occupying nearly 900 sqm of floor area would sit at ground level and be capable of accommodating 120 children and 22 staff.

<img alt="First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre" data-entity-type="file" data-entity-uuid="038a0639-f9e4-4303-8fcc-d43e73fa480f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bridgewell%20pers.png?VersionId=eGBElxmNqJW.YF3JFYgHTnPgAstdyXR3" />

According to the Design Report, the project has been conceived as a “gateway proposal” that responds to Maroubra’s evolving urban character and its proximity to the town centre.

“Designed to complement the character of Maroubra’s town centre, this gateway proposal features a building scale that matches its surroundings,” the report stated.

“It integrates residential units above a ground-level childcare centre, fulfilling the strategic objectives of the Randwick City Council Masterplan.”

The apartment mix is weighted toward larger residences aimed at families and downsizers, reflecting changing demographics in the Randwick LGA and increasing demand for medium-density housing close to transport and amenity.

BKA Architecture said the proposal seeks to reinforce Maroubra Road as a civic spine while improving the pedestrian experience around the site through landscaping and upgraded public interfaces.

“The design capitalises on the following site opportunities: reinforcement of Maroubra Road as a civic spine, enhancement of pedestrian pathways and the public interface via new landscaping, and strong market demand for two and three-bedroom apartments to support families and down-sizers,” the Design Report noted.

<img alt="First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre" data-entity-type="file" data-entity-uuid="ee509779-3c7e-4918-b03d-761c785459d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bridgewell%20site.png?VersionId=eZC4Ruyn.C7O.Qwfr1SVeP5.ds1c5.66" />

The building has been designed with setbacks and articulation intended to transition between the commercial intensity of Maroubra Junction and the surrounding lower-scale residential neighbourhoods. Communal open space is proposed on level one, while upper-level apartments would secure views towards Port Botany, Maroubra Beach and Sydney’s eastern suburbs.

The development sits around 200 metres east of the Maroubra Junction intersection of Anzac Parade and Maroubra Road, within one of Randwick’s identified strategic centres. The site is close to Pacific Square Shopping Centre, major bus routes, schools, parks and future cycling infrastructure proposed under the Maroubra Junction Masterplan.

The Maroubra proposal aligns with broader NSW Government initiatives encouraging higher-density housing near established centres and transport corridors, particularly where affordable housing is incorporated.

Bridgewell is also working on a <a href="https://www.apartments.com.au/news/qld/goldfields-sets-the-stage-as-quartet-milton-launches">new 55-unit project in Killara</a>.

First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre

National diversified developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has launched its latest Brisbane apartment project, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet Milton</a>, marking its entry into the sought-after inner-city suburb just two kilometres from the CBD.

The circa $100 million development will rise 18 storeys and deliver 131 apartments, offering a mix of one, two-, and three-bedroom residences.

Ideally located on Manning Street, Quartet residents will be within 300 metres of Milton Station, 500 metres from the Milton Ferry Wharf, and a short walk to Milton Markets, the iconic Park Road, as well as a range of breweries and cafés.

[smartcode_project:default project_id=108736 project_image_fid=367993]

Designed by architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, the building features a simple, gridded façade paired with generous glazing to enhance views, maximise aspect, and capture both sunrises and sunsets from within the apartments and their generously sized balconies.

Residents will have access to a 1,000 sqm rooftop, curated to balance wellness and entertaining, in response to increasing demand for wellness-focused shared spaces.

"We've approached Quartet Milton as a complete lifestyle offering, not just apartments, but a place where the design, amenities, and location all work together in a meaningful way," says Goldfields Managing Director Lachlan Thompson.

"Buyers are looking for that sense of confidence, knowing the vision has been carefully thought through not just by us as developers, but by all our consultants appointed to bring this together, and that it will be delivered to the standard they expect."

[smartcode_project:default project_id=108736 project_image_fid=368000]

Cera Stribley Co-Founder and Managing Principal Domenic Cerantonio said the rooftop is designed to feel like a place "you'd genuinely use every day."

"A 25-metre pool framed by city and mountain views, wellness areas, and private dining spaces for evenings with friends create a setting designed for year-round comfort and effortless Brisbane living."

[smartcode_project:default project_id=108736 project_image_fid=367999]

In addition to the 25-metre pool, the rooftop will include a sauna, cold plunge, fully equipped gym, and zen gardens, all complemented by panoramic views of the city and river.

While the building is expected to appeal predominantly to owner-occupiers, Goldfields anticipates interest from investors seeking strong rental returns, driven by the project's design, location, and the city's projected capital growth in the lead-up to the 2032 Brisbane Olympics.

[smartcode_project:default project_id=108736 project_image_fid=367991]

<a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>, widely regarded as one of Brisbane's most desirable inner-ring suburbs due to its lifestyle offering and proximity to the CBD, has experienced a shortage of new apartment supply in recent years.

Goldfields is already active in the Brisbane residential market through its Ripley Valley masterplanned community, Hayfield. The 109-hectare neighbourhood is already home to more than 300 families and features a large community park.

Plans for the precinct include a 4 km running track, future schools, and retail and commercial amenities, all within a 35-minute drive of the Brisbane CBD.

Goldfields also plans to deliver a new mixed-use tower at 88 Robertson Street in Fortitude Valley, within the James Street precinct. The project will include 16,000 sqm of boutique commercial space, a level of wellness facilities, and a rooftop restaurant and event space, akin to Goldfields House in South Yarra, its flagship mixed-use development on Chapel Street, which is crowned by the Beverly Rooftop bar, one of Melbourne’s best-known venues.

[smartcode_project_cta:default project_id=108736]

Goldfields sets the stage as Quartet Milton launches

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 Ryan family have sold the Republic Hotel on the corner of Pitt and Bridge streets in Sydney's CBD to international property fund in an off-market deal.
The deal was settled for an undisclosed sum through Ray White's Andrew Jolliffe.
It comes on the heels of another high-profile pub sale. The Justin Hemmes-led Merivale recently snapped up Vic on the Park Hotel in Sydney's Inner West in a deal estimated to be between $22 million to $25 million.
Republic Hotel recently underwent a multi-million dollar upgrade, including the introduction of a rooftop bar.
<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/2017/10/20/Republic.jpg" alt="">
The deal, concluded this week, sees the well-known hotelier Patrick Ryan enter into an agreement to lease back the business operation of the asset after 17 years of ownership of the four-storey hotel. 
<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/2017/10/20/RepublicHotel3.jpg" alt="">
Jolliffe, who would not be drawn on price, or the identity of the purchaser, believes there is strong interest in AAA Grade property in top Australian cities. 
"Sydney is enjoying a demonstrable surge in infrastructure investment, and astute investors right throughout our Asia Pacific database have highlighted this point,” he said.
"We have averaged an exit yield of approximately 8% for our clients when considering our last 20 transactions this year, and accordingly restate our view that the considered argument for further yield compression remains likely.” 
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jonathanchancellor-7SQnKwU6yx

The Ryan family sell Republic Hotel in Sydney CBD to global property fund  

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<div>Since the introduction of new incentives, the number of dwellings financed by first homebuyers bolted to the <a href="https://petewargent.blogspot.co.uk/2017/10/record-high-for-housing-finance" target="_blank">highest level in 92 months</a> in August 2017, so households are now being formed apace, especially in the two most populous states. </div>
 
<div class="separator"><a href="https://2.bp.blogspot.com/-_VSHlNMkc4A/WeeUsZWsR8I/AAAAAAAAmrk/97SRzapVQb4Xbkaw1Z_a4o5h3Edyuz0MQCEwYBhgL/s1600/FHBs.jpg"><img src="https://2.bp.blogspot.com/-_VSHlNMkc4A/WeeUsZWsR8I/AAAAAAAAmrk/97SRzapVQb4Xbkaw1Z_a4o5h3Edyuz0MQCEwYBhgL/s640/FHBs.jpg" width="640" height="390" data-original-height="834" data-original-width="1365"></a></div>
<div> </div>
<div>There's much, much more to household formation than just this, though.</div>
<div> </div>
<div>Recall I showed from the 2016 Census figures that Australia's migration programme has led to a <a href="https://www.smh.com.au/business/the-economy/demographic-tsunami-will-keep-sydney-melbourne-property-prices-high-20170629-gx1onj" target="_blank">demographic tsunami</a>, being millions of 25 to 32 year-olds in Australia, about to swamp the housing markets, heavily focused on Sydney and Melbourne. </div>
<div> </div>
<div>Separate figures reporting the <a href="https://petewargent.blogspot.co.uk/2017/06/migrants-flock-to-capital-cities-stay" target="_blank">characteristics of recent migrants</a> showed that it's overwhelmingly now the capital cities that are about to be swamped, because new migrants flock to the capital cities, and end up staying there. </div>
<div> </div>
<div>Many first-timers are electing to rent where they live, and are instead buying investment properties as their first step onto the ladder, so the real number of first-time buyers is tracking at close to the long run average. Plus there's the trend towards co-ownership, as <a href="https://www.weeklytimesnow.com.au/real-estate/victoria/cobuying-a-solution-to-the-biggest-challenge-facing-buyers/news-story/e4fe88a599069d749765595101f2ba80" target="_blank">recently reported</a>. </div>
<div> </div>
<div>The 'bank of Mum &amp; Dad'</div>
<div> </div>
<div>Perhaps as significantly, there are the parents buying homes for their kids, which is new household formation not reported in the first homebuyer finance numbers. </div>
<div> </div>
<div>We are now seeing this going on practically all the time at auctions in Sydney and Brisbane - to be blunt, it pushes up prices - and evidently it's a big thing down in Melbourne and Geelong too. </div>
 
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<div>
 Cate Bakos of <a href="https://www.catebakos.com.au/" target="_blank">Cate Bakos Property</a> in Melbourne notes that it's not only the first homebuyer sector that's being impacted by inherited money: "Parents are impacting competition levels significantly. Firstly in the first homebuyer concession range - which is already screaming along with heightened borrowing capacity - and secondly the upgrader stakes. We are seeing and hearing of parents paying it forward with inheritance money." Affordability has been a drag on household formation to some extent since the financial crisis. However, this is projected to be more than offset by an ageing population - empty-nesters and downsizers - more divorces, more separations, widowhood, and a nascent yet growing trend towards <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/3236.0Media%20Release12011%20to%202036?opendocument&amp;tabname=Summary&amp;prodno=3236.0&amp;issue=2011%20to%202036&amp;num=&amp;view=" target="_blank">lone-person households</a> living in apartments. And that's before we mention all the empty dwellings. Over the longer term, the ABS forecasts that the number of households will increase by well over 50 per cent to 12.7 million over the 25 years to 2036.</div>
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pwargent-M4siyDbqQY

First home buyer numbers bolt

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The Parramatta office market will struggle to keep up with demand due to an influx of white collar workers and undersupply in the area, according to Colliers International. 
The real estate agency cited a Deloitte report — ‘Designing Western Sydney’ — that emphasises the need to create 200,000 new jobs in the region by 2020, to address unsustainable worker transport challenges. 
Most of the demand for space is likely to come from the catalyst industries such as health, higher and international education, professional services (in particular through the financial services sector and public sector) and cultural and creative industries, the report said.
If participation and education attainment levels in the region are improved, these workers could contribute an additional $32 billion to Australia's economy, the report says.
Western Sydney is the country’s third largest region in terms of contribution to GDP and one in 10 Australians already live in the region with one million more expected by 2031.
A large proportion of demand for space is likely to come from the catalyst industries such as health, higher and international education and professional services, said Theo Psychogios from Deloitte Access Economics.
“Parramatta, labelled ‘Sydney’s Central city’, remains the main white collar employment catchment area for the Greater Western Sydney region,” said Kristina Mastrullo, associate director of research at Colliers International. 
As Deloitte expects an additional 200,000 jobs created in Western Sydney by 2020, Parramatta is be the area that will host a large majority of these workers.
“With the level of pre-commitment to be experienced, we expect the commercial core of Parramatta to expand through new development supply to accommodate these future workers,” said Mastrullo.
Up to 2,400 white collar workers have been added to the Parramatta office market within the last 12 months, according to Colliers International research.
“As a result of government decentralisation, lack of new supply, and the displacement of tenants due to conversion to other uses, Parramatta’s total vacancy is now one of the lowest nationally,” said Alex Brown, director of Office Leasing at Colliers International, Parramatta.
 “With the vacancy rate in the first half of 2017 at 4.3%, and A Grade vacancy remaining at zero percent, tenants have been faced with limited choice. This has resulted in landlords being able to achieve increased net effective rents throughout 2017.”
Brown cited an example where one landlord secured a rent of $420 per sqm net in March 2017, and then in July 2017 secured rents of $480 sqm net for similar space in the same building which was “a considerable increase in a short space of time.”
New supply in Parramatta has been limited. The first stage of 1 Parramatta Square opened in January 2017, being fully committed to the University of Western Sydney.
Other developments such as 105 Phillip Street (picture above) and 3 Parramatta Square have been 100% pre-committed from non-Parramatta tenants. These developments, projected for completion between 2019 and 2021, will bring an additional 149,550 sqm of prime space to the office market, 104,000 sqm of which is pre-committed. 
“Parramatta is currently lacking in prime quality space and with this level of pre-commitment over the next 3 years, vacancy is only expected to tighten. Over the next three years to January 2022, total market vacancy is expected to reduce to sub-3%, from a current vacancy of 4.3%. This is forecast to cause an increase in rents, especially in B grade stock as prime grade assets are secured prior to completion,” said Kristina Mastrullo.
Although the market remains tight, Parramatta Council is attempting to solve the issue of undersupply in the area.
“Parramatta Council’s recent decision to modify 8 Parramatta Square’s use from Residential to 71,000 square meters of office space reflects the confidence in the commercial leasing market,” said Alex Brown.
“Notable vacant space is likely to become available in 2020 and 2021 with several tenants expected to relocate to new opportunities including Parramatta City Council, The Office of State Revenue, and Department of Planning and Environment, which will provide up to 15,000 square metres of backfill space. CBA is due to vacate 101 and 150 George Street in 2022 creating approximately 40,000 square metres of backfill space,” Alex Brown said.
“This low vacancy rate has had a flow-on effect to other Western Sydney markets including Rhodes and Sydney Olympic Park. As a result many tenants that we are looking after are being required to consider these neighbouring markets due to the lack of availability in Parramatta.”
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Parramatta office market likely to struggle to keep up with demand: Colliers

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A fully leased childcare centre in Mornington has been listed for auction on November 17.
The <a href="https://www.realcommercial.com.au/property-retail-vic-mornington-502594294" target="_blank">18-20 Fleet Street</a> property comprises a 400 sqm building on a 1,200 sqm  site and is close to the town centre. 
The property will be sold subject to a five-year lease at a current net annual rental of $58,000 with 4 per cent annual increases.
It is being marketed by Teska Carson’s Fergus Evans and George Takis.
“The centre has been built in a perfect location for working parents looking for an easily accessible childcare centre and one which offers the best facilities for their children,’’ Evans said. 
He added that said the “entry level’’ investment offered a secure lease profile in a government-backed industry in an excellent location and with the potential for future development.
Takis said Mornington had recently emerged as one of the most sought after bayside investment locations in Melbourne.
“Childcare is one of Australia’s strongest growth industries and that fact will not be lost on the growing local investment community,” Takis said. 
Earlier this month, a securely leased retail property at 185 Main Street in Mornington sold at auction for $2.2 million on a yield of 3.86 per cent.
Several weeks earlier a retail property at 157 Main Street sold at auction for $2.9 million on a 3.52 per cent yield.
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Childcare centre in Mornington to go under the hammer

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Commercial property auctions saw their second week of extremely subdued sales activity, according to the CoreLogic preliminary results.
The last week with a substantial number of preliminary observations was the week ending 22nd of September, which saw 61 auction events. 
The week ending the 6th of October saw just 8 auctions events collected across Australia.
Of the 8 properties that went to auction, 4 were in Victoria, 3 were in Queensland and 1 was in South Australia.
Overall, there were 6 successful sales. While this suggests a high clearance rate of 75%, there are not enough observations to get a sense of demand in this space.
The highest of these was a $2.1 million office and warehouse space in Ashmore, Queensland. The total sales value of properties at auction was $7.3 million, suggesting an average sale price of $1.2 million The range of prices was $305,000 to $2,075,000. 
<a href="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-10/2017_10_06_auction_graph.gif" target="_blank">Click to enlarge</a>
<img src="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-10/2017_10_06_auction_graph.gif" alt="2017-10-12--auctioncommercial" width="570" height="374">
The table below indicates National Auction Clearance Rate figures.
<a href="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-10/2017_10_06_auction_table.gif" target="_blank">Click to enlarge</a>
<img src="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-10/2017_10_06_auction_table.gif" alt="2017-10-12--commercialauctiontable" width="570" height="205">
 The results came ahead of the CBRE Melbourne auction which saw a 50 percent success rate, down on its inaugural 100 percent auction several weeks ago.
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j.ballantyne1990-6AQqhLzZaK

Commercial property auctions weaken too 

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GUEST OBSERVER
Where we live can play a big part in ageing well, largely because of the links between physical activity and wellbeing.
Research shows that two-thirds of Australians prefer to age in place. That is, we want to live independently in our homes for as long as we can. Our neighbourhoods and their design can then improve or hinder our ability to get out of the house and be physically active.
The rapid ageing of Australia’s population only adds to the importance of neighbourhood design. In 2016, 15% of Australians were aged 65 or older. That proportion is projected to double by 2056.
These trends present several social and economic challenges, particularly for the health sector. Designing neighbourhoods in ways that promote physical activity can help overcome these challenges.
Eight simple steps
The following is a short list of evidence-based steps local and state governments can take to assist older people to be physically active. These involve minor but effective changes to neighbourhood design.
<ol>
<li>Improve footpaths: Research indicates that older people have a higher risk of falls. Ensuring footpaths are level and crack-free, and free from obstructions, will encourage walking among older people – especially those with a disability. 
</li>
<li>Connected pedestrian networks: Introducing footpaths at the end of no-through-roads and across long street blocks reduces walking distances to destinations. This makes walking a more viable option. 
</li>
<li>Slowing traffic in high-pedestrian areas: Slowing traffic improves safety by reducing the risk of a collision. It also reduces the risk of death and serious injury in the event of a collision. 
</li>
<li>Age-friendly street crossings: Installing longer pedestrian crossing light sequences gives older pedestrians more time to cross, and installing refuge islands means those who walk more slowly can cross the street in two stages. 
</li>
<li>Disabled access at public transport: Although a form of motorised transport, public transport users undertake more incidental physical activity compared with car users. This is because they walk between transit stops and their origins and destinations. Improving disabled access helps make public transport a viable option for more older people. 
</li>
<li>Places to rest: Providing rest spots such as benches enables older people to break up their walk and rest when needed. 
</li>
<li>Planting trees: Planting trees creates more pleasant scenery to enjoy on a walk. It also provides shade on hot days. 
</li>
<li>Improving safety: Ensuring that streets are well-lit and reducing graffiti and signs of decay are likely to improve perceptions of safety among older people.</li>
</ol>
Why physical activity matters
Physical function – the ability to undertake everyday activities such as walking, bathing and climbing stairs – often declines as people age. The reason for this is that ageing is often accompanied by a reduction in muscle strength, flexibility and cardiorespiratory reserves.
Regular physical activity can prevent or slow the decline in physical function, even among those with existing health conditions.
Middle-to-older aged adults can reduce their risk of physical function decline by 30% with regular physical activity (at least 150 minutes per week). This includes recreational physical activity, like walking the dog, or incidental physical activity, such as walking to the shops or to visit friends.
By making minor changes as outlined above, the health and longevity of our elderly population can be extended. Such changes will help our elderly age well in place.
Jerome N Rachele, Research Fellow in Social Epidemiology, Institute for Health and Ageing, Australian Catholic University; Jim Sallis, Professorial Fellow, Institute for Health and Ageing, Australian Catholic University, and Emeritus Professor, Department of Family Medicine and Public Health, University of California, San Diego, and Venurs Loh, PhD Candidate, Institute for Health and Ageing, Australian Catholic University
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/eight-simple-changes-to-our-neighbourhoods-can-help-us-age-well-83962" target="_blank">original article</a>.
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Eight simple changes to our neighbourhoods can help us age well

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The publicly listed ALE Property Group (ALE) is seeking to sell the Berwick Inn Hotel.
It is leased to Australian Leisure &amp; Hospitality Group (ALH), which is 75% owned by Woolworths and is the largest operator of pubs in the country.
It holds the lease until November 2028, with four further 10-year options to extend to 2068.
The two-storey venue is located on a prominent 4,166 square metre site and comprises a bar, bistro, beer garden and gaming facilities as well as a large 50 space on-grade carpark. 
CBRE agents Daniel Dragicevich, Scott Callow and Justin Dowers have been appointed to sell the property via tender.
"Typically, hotels with the blue chip tenant covenant of ALH trade at between 100-150 basis points sharper than those with private tenants," Dragicevich said.
"ALH leased properties have actually been in very short supply in recent times, so a keenly fought sales campaign is expected."
The Melbourne pub listing marks the first property ALE has put to the since its 17 venue sell down in 2009-2010.
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ALE Property Group list Berwick Inn Hotel

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A South Melbourne icon, the Water Rat Hotel, is being offered for sale with offers due 2 November. 
Built in 1858, the popular venue located at 256 Moray Street was previously named Druids Hotel and also the Freemason’s Hotel.
The venue has a rich history, being the location of the 1973 murder of Painters and Docker Union secretary Pat Shannon. 
The 513 square metre venue underwent major renovations and opened as the Water Rat Hotel in 1991, where it was one of the first hotels in South Melbourne to introduce outdoor seating. 
The venue was expected to fetch a price in the high $3 million range.
It had no pokies.
Its present owner bought the hotel four years ago and the liquor licence is managed by a private company.
CBRE’s Justin Dowers, Will Connolly and Tim Last, conjunctionally with Burgess Rawson’s Terry Board and Nicholas Breheny, have been appointed to market the property. 
The Water Rat Hotel is being marketed as providing potential for investors, developers and future owner occupiers. 
Located on a 314 square metre site, the Water Rat Hotel is a two-storey venue comprising an outdoor seating area, rooftop terrace, two separate bar areas and function space on the first floor.
With frontages to Park and Moray streets, the property benefits from a position within walking distance to the Clarendon Street retail precinct. 
South Melbourne has the third highest rate per square metre for residential property in Melbourne, sitting closely behind Middle Park and Albert Park, with a rate per square metre of $10,809/square metre and a median house price of $1,700,000, CBRE says.
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South Melbourne's iconic Water Rat Hotel listed

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A Coles-anchored neighbourhood shopping centre in Cairns has sold to Shopping Centres Australia for $24.75 million. 
Sugarworld Shopping Centre is a convenience-based neighbourhood centre, 15 km south of the Cairns CBD.
Apart from Coles, it has 12 specialty retailers and a Coles Express service station pad site.
The deal was negotiated by JLL’s Sam Hatcher and Jacob Swan on behalf of IRAPT.
“The Coles Supermarket (also encompassing Liquorland and Coles Express outlets) accounts for 66% of the shopping centre’s fully leased net income, and has a strong 3.7% MAT year on year growth,” said Sam Hatcher.
The centre is expected to continue from the forecast 3.7% average annual population growth in the main trade area till 2031.
National director of Retail Investments, Jacob Swan said, 
It has a 10.91 year WALE (by income) while Coles is on a 20-year lease, offering long-term secure income.
Neighbourhood transaction volumes in Queensland increased by 15% in the last 12 months to September 2017 despite being 10% lower on a national basis over the same period.
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Sugarworld Shopping centre in Cairns changes hands for $24.75 million

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The Rockpool Dining Group is set to open his first foreign premises in Los Angeles.
The development comes ahead of leading restaurant chain Rockpool Dining Group's possible stockmarket listing, The Australian Financial Review reported.
Founded by celebrity chef Neil Perry, who last year sold the Rockpool empire to private equity-backed Urban Purveyor Group, the restaurant group has secured a site not far from Melrose Avenue in West Hollywood. 
Rockpool's previous plans for foreign site -- Spice Temple Dubai -- fell through in 2014.
The top chef’s two new Sydney restaurants, the Jade Temple at 11 Bridge Street and Rosetta at Grosvenor Square (picture above), were hatted at the recent Good Food guide gongs.
Rockpool Dining Group had recently announced it was bringing the much-loved Melbourne Italian restaurant, Rosetta Ristorante, with menus by chef Neil Perry, as part of Grosvenor Place’s $20 million piazza redevelopment.
There has been talk of a trade sale by Quadrant Private Equity, the AFR speculates.
Last November in a game changing move for the Australian hospitality industry, Quadrant Private Equity backed Urban Purveyor Group and Rockpool Group combined forces to create a multi-concept, dining and entertainment powerhouse, Rockpool Dining Group.
The move firmly establishes Rockpool Dining Group as the most dominant player in the Australian hospitality industry, with annualised revenues in excess of $350 million.
Rockpool Dining Group’s portfolio includes 47 venues, 15 dining brands, and over 3000 employees across four states. 
Rockpool signalled it plans expand to more than 80 venues by the end of CY 2017, including the group’s first venues in London.
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