A new 25-storey apartment tower proposed for Mercer Street would push Geelong’s western gateway skyline higher, with Morphy Birrell Property Group lodging plans for a project directly beside one of the city’s most significant heritage streetscapes.

The <a href="https://www.apartments.com.au/architects/fk-australia">FK</a>-designed development at <a href="https://www.apartments.com.au/new-apartments/65-67-mercer-street-geelong-vic-3220">65-67 Mercer Street</a> has now been referred to Victoria’s Planning Minister. The site sits opposite the Geelong rail corridor and immediately south of the heritage-listed St Peter and Paul’s Catholic Church and Ashby Hall precinct.

Rather than compete with the neighbouring ecclesiastical buildings, the proposal adopts a sculpted podium intended to reference the materiality and scale of the heritage context. Planning documents note the design draws cues from the “dark stone brick” church and surrounding masonry buildings, while the tower above transitions into a softer, curved form oriented toward Corio Bay and the Geelong waterfront.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="b797d10c-d4a6-47af-b8df-1aeaa3b382be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/public%20square.png?VersionId=QGIpcz1x1hKB6lQLl2iobyHqb6PS2Ztc" />

The development forms “Stage 5” of Morphy Birrell Property Group’s broader Mercer Street precinct strategy, following the completion of the 21-storey Miramar tower on Cavendish Street and several additional approved redevelopment stages nearby. Planning consultants Ratio said the proposal “represents an exemplary development outcome” aligned with the strategic ambitions for Central Geelong’s continued urban renewal.

The mixed-use project would replace an existing low-rise commercial building and surface parking area on the 3,320 sqm corner site. FK’s urban context report describes the proposal as a residential development comprising apartments, resident amenities, commercial space, and integrated landscaping positioned to maximise bay views and northern sunlight access.

Renders show a deeply articulated tower with curved balconies stepping above a lower masonry podium that frames a landscaped forecourt facing Mercer Street. The design intentionally preserves sightlines toward the adjacent church buildings, with the podium scaled to reinforce the heritage edge before the tower recedes upward.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="2bdca91e-66f7-4ac7-8baa-2f93bd5b564e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/geelong%20site.png?VersionId=QOhbino4ZgzKYw5dW3QE14E.2yq.Sv87" />

The planning report highlights the site’s strategic location within 400 metres of key Geelong destinations including Cunningham Pier, the Geelong Station precinct, Deakin University, and the convention centre. Bus services run directly along Mercer Street, while the Corio Bay foreshore sits around 100 metres north of the site.

The proposal arrives amid accelerating redevelopment across central Geelong, where planning policy continues to encourage higher-density housing close to transport infrastructure and the waterfront. Mercer Street in particular has emerged as a focal point for taller apartment development due to its proximity to Geelong Station, the bay, and major civic infrastructure.

Joel Robinson

Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct

Development giant&nbsp;<a href="https://www.apartments.com.au/developers/hamton">Hamton</a> and joint venture partner Hostplus have revealed the next residential stage of their $3 billion Moonee Valley Park masterplan, lodging plans for 512 more apartments within the precinct on surplus racecourse land at 110 Wilson Street, Moonee Ponds.

The proposed development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/trackside-house-110-wilson-street-moonee-ponds-vic-3039">Trackside Gardens</a>&nbsp;in the planning application, follows the <a href="https://www.apartments.com.au/news/vic/first-look-exclusive-hamton-and-hostplus-reveal-sixth-stage-of-moonee-valley-park-masterplan">recent unveiling of the sixth-stage Cox Place Precinct</a> and continues the long-running transformation of the Moonee Valley Racecourse into one of Melbourne’s largest urban renewal projects.

Positioned on the north-eastern edge of the racecourse adjacent to CityLink, Trackside Gardens will comprise three residential buildings rising between 61.8 metres and 86.4 metres within a heavily landscaped precinct shaped by Hamton’s Nature Based Cities framework.

The project forms part of the broader Moonee Valley Park redevelopment being delivered by Hamton, Hostplus and the Moonee Valley Racing Club, which is reshaping the 40-hectare racecourse site into a mixed-use neighbourhood with housing, retail, commercial space, hotels, parkland and community infrastructure.

Trackside Gardens sits separately to the recently proposed Cox Place Precinct, a five-building stage comprising around 1,100 residences, two build-to-rent buildings, two build-to-sell towers, retail, office space, and a hotel overlooking the racetrack. Together, the projects continue to accelerate housing delivery across the precinct.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="5fc1941e-52d3-41c6-abc4-0f13fe8ae5ea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/DA%20Edits%20%281%29.png?VersionId=7qwRHq5dcvXWNot2hNOgoQhN2GIWudNK" />

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a> with landscape architecture by Tract, Trackside Gardens has been conceived as a botanical-style residential precinct prioritising canopy planting, communal green space, and vertical landscaping.

“The architectural vision for the proposed development centres around buildings in a botanical park setting that champions the important role of nature,” the planning submission states.

“The proposal incorporates principles of biophilic design, with landscape and environmentally sustainable development influencing the ultimate design response of the buildings and prioritising the ground plane to ensure a high amenity for both occupants and visitors.”&nbsp;

Trackside Gardens will deliver 512 apartments across the three buildings, alongside 518 basement car spaces and 523 bicycle spaces. Around 20 per cent affordable housing is proposed across the broader North East Precinct, equating to around 158 dwellings.&nbsp;

The affordable housing component will be concentrated within the Wilson East building, while the remaining apartments are expected to be delivered as build-to-sell residences.

Trackside Gardens has been designed around Hamton’s Nature Based Cities initiative, founded by Executive Chair Paul Hameister OAM in partnership with the University of Melbourne, Urbis, Ark Resources and Tract. The initiative promotes integrating higher-density urban development with significant biodiversity, tree canopy and landscape outcomes.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="89353449-7b3c-42fd-8fd8-8bf64a5ef80f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_4.png?VersionId=X8jRt0P2L7fIWjLhfX6gPknXToXIBeLj" />

A comprehensive landscape strategy would introduce deep soil planting, vertical greening, communal gardens, and new pedestrian links throughout the site.

Planning documents state the development is targeting a 5 Star Green Star Buildings rating, a 7.5-star average NatHERS rating, and “Exemplary” Nature Based Cities certification.&nbsp;

The proposal joins an expanding pipeline of approved and proposed buildings within Moonee Valley Park, including the recently launched Eveline apartments and the approved Grandstand North and South towers.

Hamton has increasingly focused on precinct-scale, nature-led communities across Melbourne’s middle-ring suburbs, with projects spanning Hawthorn, Kew, and Moonee Ponds.

Hampton unveils Trackside Gardens, latest stage of $3 billion Moonee Valley Park masterplan

The Paul Gedoun-led <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Group</a> has achieved another milestone in its $1 billion transformation of Rainbow Bay on the southern Gold Coast with the completion of the company’s third project in four years, the $160 million <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a> residences.

Delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a> and designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker Architects</a>, Esprit buyers have now moved into the 94 apartments across two interconnected buildings at 217-227 Boundary Street.

The successful settlement of Esprit marks another astounding chapter in the S&amp;S story, which launched its highly successful Flow apartments three years ago and created its own ultra-luxury branded fingerprint on an area craving new luxury residences.

Most early purchasers have secured gains of well over $1 million since the project launched in 2021.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172129]

S&amp;S Projects Founding Director Paul Gedoun said the completion of Esprit reflects sustained demand for premium apartments in tightly held coastal locations.&nbsp; 
&nbsp;&nbsp; &nbsp; 
“Esprit has attracted buyers seeking a combination of quality design, considered amenity and a location that is becoming increasingly difficult to replicate,” said Gedoun.

“We identified some years ago that Rainbow Bay is a unique market where supply of luxury residences is limited, and we see the settlements in Esprit further underpinning this thinking - that for both owner-occupiers and investors.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172174]

A key feature of the development is ‘Club Esprit’, a 1,000sqm residents-only rooftop level combining wellness and recreation, believed to be a first for the Gold Coast, and which is fast becoming a signature of the S&amp;S brand.

Positioned to capture views across Snapper Rocks, Rainbow Bay and the Tweed River, the rooftop includes a 25-metre lap pool, gym, yoga lawn, sauna and steam facilities, ice bath, private dining spaces, outdoor cinema and landscaped areas for residents.&nbsp;

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> Director Jayde Pezet, who led the sales campaign for Esprit and S&amp;S’s Flow and Awaken apartments, said the project’s performance reflects both the strength of the product and the depth of demand for premium apartments on the southern Gold Coast.&nbsp;

“In some cases, we’ve seen values double since launch, which is a clear reflection of how tightly held Rainbow Bay has become and the level of demand for well-executed projects in this market,” said Pezet.&nbsp;

“Buyers recognised early what S&amp;S Projects was delivering here, and that conviction has been rewarded as the project has progressed towards completion.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=214819]

Esprit offers a mix of two- three and four-bedroom apartments and sits within walking distance of the beachfront, cafés and local amenities, reinforcing its appeal as both a lifestyle and investment destination.

The project is the third completed by S&amp;S Projects in Rainbow Bay, following Flow Residences and Awaken Residences, which together have contributed to the suburb’s emergence as one of the Gold Coast’s most sought-after coastal pockets. &nbsp;

S&amp;S Projects is continuing its investment in the area with Radia, a $215 million development currently under construction.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172175]

Gedoun said the completion of Esprit signals continued confidence in the southern Gold Coast market.&nbsp;

“We’ve seen strong interest in well-located, high-quality apartments, particularly in areas where future development opportunities are limited."

“That’s been a key factor in the performance of Esprit and the broader Rainbow Bay market”.

[smartcode_project_cta:default project_id=102921]

Owners move in as Esprit completes at Rainbow Bay

Few developers can boast a portfolio across South East Queensland's luxury markets quite like <a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a>.

The builder-developer, founded in 2004 by Managing Director Brook Monahan, has projects in planning, on the market, and under construction, from Burleigh Heads and Broadbeach to Kangaroo Point and South Brisbane.

With a pipeline exceeding $2 billion, Mosaic remains highly selective when it comes to development sites, having spent years refining its strategy around feasibility research and product planning. The group is set to continue growing into 2026 and beyond.

In Brisbane, Mosaic currently has three projects in the market. It is in the final release stage at <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford</a> in Kangaroo Point, which is approaching complete sellout ahead of its late 2027 completion.

[smartcode_project:default project_id=134792 project_image_fid=328123]

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, The Bedford comprises 128 two- and three-bedroom residences. A selection of ultra-luxury Masterpiece Series Skyhomes, positioned across the top levels, offer expansive floor plans and sweeping views of the river and city.

High-end inclusions, such as natural stone benchtops, bespoke cabinetry, and Miele appliances, feature throughout all apartments, alongside the Rooftop Recreation &amp; Retreat Sky Terrace. This includes a resort-style pool with sun deck and loungers, spa, cold plunge pool, sauna, steam room, private dining room with a full kitchen, residents' lounge, multiple barbeque and relaxation zones, an outdoor viewing deck, and landscaped gardens with water features, all oriented to sweeping city and river views.

A gym with indoor and outdoor zones, and a golf simulator, further enhances recreational choice within the building.

[smartcode_project:default project_id=134792 project_image_fid=328119]

A defining feature of the development is its integrated mixed-use component, which will deliver Kangaroo Point's first major supermarket, alongside a café and liquor store, bringing long-awaited convenience to the peninsula.

Monahan says The Bedford represents the culmination of a near-decade-long journey, after first identifying the A-grade Prospect Street site in 2016. While they came close to acquiring it at the time, the site was ultimately purchased by Woolworths' development arm, Fabcot. The opportunity resurfaced in 2024 when the site, vacant for nearly three decades, was brought back to market.

Monahan says Mosaic projects often begin years before any formal plans are drawn. Their new South Brisbane development is no exception, with the site first earmarked in 2018.

"We aren't opportunistic," Monahan says. "Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

[smartcode_project:default project_id=141711 project_image_fid=353495]

A similar story unfolded at <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a> in Kangaroo Point, opposite The Gabba. Like The Bedford, it is also approaching sellout of its 125 two- and three-bedroom apartments. The majority of sales are attributed to returning customers and referrals, with a balanced mix of investors and a strong majority of owner-occupiers.

BDA Architecture was again engaged to design the 22-storey building, which will feature a suite of wellness and lifestyle amenities, including a golf simulator and cinema, a commercial-grade gym, and a rooftop recreation level with a pool, steam room, sauna, cold plunge, teppanyaki bar, private dining spaces, and landscaped terraces.

Construction is on track for completion in mid-2027.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Mosaic's latest offering is its most ambitious yet, boasting a rare, north-facing riverfront position on Montague Road in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale by Mosaic</a> is a 39-storey tower comprising just over 200 residences and Masterpiece Series Sky Homes. Designed in partnership with Bureau Proberts, it will feature nearly 3,000 sqm of genuine, internationally benchmarked six-star, hotel-style amenities, including a wellness precinct, pool, gym, massage and treatment rooms, cinema, golf simulator, and extensive outdoor dining areas across a two-level rooftop deck.

Early works are underway, with full construction expected to commence in the second half of 2026, and an anticipated late 2029 completion.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Since 2012 alone, Mosaic has completed more than $2 billion in projects and is set to deliver another $2 billion worth of developments, comprising hundreds of luxury apartments, each defined by Mosaic's signature standards of quality, detail, and delivery.

"We never arrive, there is no finish line," says Monahan. "Our ambition is to keep evolving what luxury means, creating design- and lifestyle-led residences in incredible locations, places people genuinely aspire to and want to live, homes that are loved deeply and endure long beyond their moment."

Mosaic's Midas Touch

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> (Urban) has broken ground at Keira Place, its new major mixed-use residential precinct in the heart of Wollongong CBD.

Held at 120-122 Smith Street, the groundbreaking marked the commencement of construction on Stage 1 of <a href="https://www.apartments.com.au/new-apartments/keira-place-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, with the opening of the new display suite. 
&nbsp; 
Keira Place is a State Significant Development that will deliver new housing supply, affordable homes and inclusive living options within walking distance of Wollongong’s CBD, coastline, transport, hospital and education precincts.

[smartcode_project:default project_id=144442 project_image_fid=369868] 
&nbsp; 
Stage 1 is now under construction and will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, along with activated ground-floor retail and commercial space. 
&nbsp; 
Urban Co-CEO Patrick Elias said the groundbreaking represented a significant milestone for Wollongong and reflected Urban’s long-term commitment to regional cities.

“Today’s groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong’s city centre,” Elias said. 
&nbsp; 
“Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection.”

[smartcode_project:default project_id=144442 project_image_fid=369869] 
&nbsp; 
Hon. Paul Scully MP, Minister for Planning and Public Spaces, Member for Wollongong said Keira Place is exactly the kind of development Wollongong needs – delivering new homes close to transport, employment and services, while supporting the continued growth and renewal of the CBD.

"This project reflects the Minns Labor Government's commitment to increasing housing supply in well-located areas." 
&nbsp; 
Wollongong Lord Mayor Cr Tania Brown said Keira Place would deliver lasting community benefits for the city. 
&nbsp; 
"Keira Place is a welcome addition to Wollongong's CBD delivering new housing, affordable homes and activated street-level spaces that will benefit our community for years to come," Brown said. 
&nbsp; 
"Urban Property Group's investment reflects the confidence that quality developers have in Wollongong's future, and I look forward to seeing this precinct come to life."

[smartcode_project:default project_id=144442 project_image_fid=369867] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a>, with interiors by <a href="https://www.apartments.com.au/interior-designers/dko">DKO,</a> Keira Place prioritises liveability and long-term performance, with landscaped shared spaces, generous apartment layouts and a pedestrian-friendly streetscape along Smith Street. 
&nbsp; 
Residents will have access to landscaped podium areas, communal rooftop amenities with views to Mount Keira and the Wollongong skyline, and convenient ground-level retail.

The development will have 10-year Latent Defects Insurance by Resilience Insurance.

[smartcode_project_cta:default project_id=144442]

Groundbreaking marks start of construction at Keira Place in Wollongong CBD

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>
<div>
APRA announced further measures to cool certain sectors of the housing market last week.
Every man and his dog has written about this already, with a few excellent insights and some interpretations that were just plain weird - so let's keep this post as short as possible, shall we? 
OK, here we go...
APRA wants lenders to place strict internal limits on the volume of interest-only lending at loan-to-value ratios (LVRs) above 80 percent, so firstly some lenders will immediately require a 20 per cent deposit for this type of loan. A shift in this direction has already taken place to some extent, so the impact of this may be marginal.
Lenders must now also ensure there is "strong scrutiny and justification of any instances of interest-only lending at an LVR above 90 percent", so interest-only loans with a deposit of less than 10 per cent will generally go the way of the dodo and the lo-doc loan. 
Again, this has by and large already happened, but will have the ongoing effect of knocking a few more first-time buyers out of the market, while having no impact on incumbent owners with existing equity.
<a href="https://www.propertyobserver.com.au/images/2017/04/02/C2.jpg" target="_blank">Click to enlarge </a>
</div>
<div class="separator"><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/2017/04/02/C2.jpg" alt=""></div>
<div> </div>
<div>Speed limit</div>
<div> </div>
<div>The existing 10 per cent cap on growth for investment mortgage books will remain in place. I've spoken to branch managers and bank owners, and their view is generally that this won't have too much impact since new loans can always be pushed back a month.</div>
<div> </div>
<div>But a third impact may be that some lenders have to wind their necks in just a little bit further. </div>
<a href="https://www.propertyobserver.com.au/images/2017/04/02/C4.jpg" target="_blank">Click to enlarge</a> 
<div class="separator"><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/2017/04/02/C4.jpg" alt=""></div>
 
<div>Fourthly, there will likely be a shift in the investor loan segment of the market towards private financiers or non-bank lenders, perhaps some of whom may offer commercial-style rates. </div>
<div> </div>
<div>Fifthly, banks have been presented with an open goal here for raising the rates on their investor loans, so rates will inevitably be ratcheted higher in due course. </div>
<div> </div>
<div>Switch...</div>
<div> </div>
<div>Between July 2015 and February 2017 some $50 billion of loans were switched from investor to owner-occupier mortgages following the introduction of an interest rate differential between the two types of loan. A sixth impact will therefore be yet further switching of loan purpose. </div>
<a href="https://www.propertyobserver.com.au/images/2017/04/02/C3.jpg" target="_blank"> Click to enlarge</a>
<div class="separator"><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/2017/04/02/C3.jpg" alt=""></div>
Why worry?
<div>
So far, so unremarkable. But there's more...
</div>
<div> </div>
<div>By far the most important impact will be a new 'speed limit' on interest-only loans in Australia, with APRA now aiming to limit the flow of new interest-only lending to 30 per cent of total new residential mortgage lending.</div>
<div> At the heady peak more than 45 per cent of new loans were interest-only in nature, with investors in particular favouring this type of product in order to maximise their tax deductible expenses.  </div>
<div> </div>
<div>A seventh impact will be that new owner-occupiers wanting to use this type of product in future may be given their marching orders, and possibly some aged borrowers too. </div>
<a href="https://www.propertyobserver.com.au/images/2017/04/02/C1.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><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/2017/04/02/C1.jpg" alt=""></div>
<div class="separator"> </div>
<div>Eighthly, if that is even a real word, two of Australia's major banks have been rolling over interest-only loans more or less automatically at the end of the interest-only period, and these lenders will almost certainly now require a far more stringent assessment. </div>
<div> </div>
<div>Of course, few borrowers will default on a loan when they've seen the value of their Sydney property double over the preceding five years, though they might choose to sell off their investment if the repayments become too arduous. The impact in markets where dwelling prices have declined might prove to be an altogether more dramatic story.</div>
<div> </div>
<div>The ninth impact - perhaps an over-arching point really - is that far too many investors have simply assumed they will continue rolling interest-only debt ad infinitum, and they may now have to get it into their heads that they will be paying back principal sooner or later.</div>
<div> </div>
<div>Seemingly every other week an article surfaces featuring 'young gun investors' with a dozen interest-only loans having been used to buy high-yielding properties in far-flung areas. </div>
<div> </div>
<div>Credit markets tend to move in cycles, so APRA's changes may or may not be permanent, but in the prevailing market conditions some borrowers could get caught short if they've simply planned to continue rolling interest-only debt on an endless loop. </div>
<div> </div>
<div>Oh, and there may be further macroprudential measures to come!</div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank">Four Green Houses and a Red Hotel</a>.
</div>
</body></html>

pwargent-M4siyDbqQY

APRA offers further measures to cool certain housing market sectors

<html><body>
Malvern’s iconic Angel Tavern, together with eight adjoining retail and commercial properties, has been listed for sale with price expectations of more than $45 million. 
The properties are for sale via an international expressions of interest closing May 11.
The tavern is located on the corner of Glenferrie Road and Dandenong Road, Malvern, close to Malvern train station. It has a gaming licence and a drive-through bottleshop.
The total underlying land area is about 4,720 sqm. 
The listing agents are Colliers International’s Matt Stagg and Jeremy Gruzewski, and Gross Waddell’s Jonathan McCormack and Andrew Waddell.
“Holdings of this scale in prime eastern-suburb locations are scarce, especially directly adjoining a major train station,” Stagg said. “It provides the opportunity to secure an Urban Renewal Precinct and transportation hub in a bluechip suburb.”
The offering comes at a time when the Victoria government is encouraging strategic development of Urban Renewal Precincts and Metropolitan Activity Centres throughout metropolitan Melbourne to accommodate the city’s growing population, which is anticipated to reach eight million people by 2050.
The government initiative includes increasing the supply of affordable housing around activity centres that provide residents easy access to jobs, retail, education and healthcare services. 
Building near public transport networks that link with the $10 billion Melbourne Metro Rail Project is also vital in order to reduce traffic congestion and minimise Melbourne’s environmental footprint, according to a media release.
Stagg said there was excellent potential to activate the streetscape and create a  safe pedestrian thoroughfare linking Dandenong and Glenferrie roads with Malvern station.  
The Angel Tavern Urban Renewal Precinct has flexible zoning and valuable air-rights,  that allow for a variety of mixed uses, such as residential apartments, commercial, hotel and student accommodation (subject to town planning approval).
“Malvern is one of Melbourne’s most exclusive suburbs with a median house price of $2,300,000,” McCormack said. 
“However, there is a dramatic shortage of premium owner-occupier apartments and townhouses for affluent down-sizers who wish to continue living in Malvern once they have sold the family home.” 
He said projects such as Lend Lease’s successful Toorak Park at 590 Orrong Road in Armadale, which directly adjoins Toorak station, was an indication of the possibilities in store for the Angel Tavern and the block of properties on sale. 
The Angel Tavern plus the eight properties generate a solid holding income, said the listing agents. Vacant possession is readily available via aligned lease expiries and termination clauses.  
 
</body></html>

jonathanchancellor-7SQnKwU6yx

Angel Tavern and eight neighbourhood properties in Melbourne listed for $45 million

<html><body>
Melbourne is the second highest expensive place to purchase a private treaty property, according to CoreLogic’s latest report.
The property data firm says that the average house in Melbourne costs around $700,000 while a unit costs around $520,000.
<a href="https://www.propertyobserver.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%201.05.04%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/20/Screen%20Shot%202017-03-20%20at%201.05.04%20pm.jpg" alt="">
This is in contrast to Sydney, which is the most expensive with $940,000 for houses and $740,000 for units.
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-kensington-123695926" target="_blank">22 The Crescent</a>, Kensington (above) has been sold for $725,000.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-collingwood-120737429" target="_blank">56 Palmer Street</a>, Collingwood (below) has been sold for $715,000.
<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/2017/03/31/56%20Palmer%20Street.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

Melbourne sits second most expensive place to purchase a property: CoreLogic

<html><body>
A historic house at Penshurst in rural Victoria has been listed for $485,000.
Located at <a href="https://www.realestate.com.au/property-house-vic-penshurst-124144902" target="_blank">100-102 Bell Street</a>, the renovated 1862 bluestone house has a business next to it.
It sits on 4000 sqm plus between two landmark Victorian properties in the Western Districts town.
It last sold in 2012 at $210,000.
Consisting of two kitchens, two bedrooms, two bathrooms and one laundry the property could be used as a rental income.
Surrounded by gardens containing the original Cobb and Co changing stables that is currently used as a summer kitchen.
<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/2017/03/23/100-102%20Bell%20Street-2.jpg" alt="">
There is also an orchard that contains apple, mulberry, pear, apricot, fig and an assortment of other fruits with Grampian views as the backdrop.
A hedge surrounds the property along with the mature English trees.
The property is offered through Southern Grampians Livestock &amp; Real Estate agent Trish Thurgood.
</body></html>

Historic Cobb and Co rural Victoria house listed

<html><body>
Stamp duty isn't a much admired tax.
Except by governments that is!
The arguments against stamp and transfer duties include that they discourage labour force mobility, while making life challenging for first home buyers.
It's not hard to see why governments like them, though.
Over the year to February 2017 the NSW Office of State Revenue (OSR) alone recorded astronomical receipts of $9.4 billion.
Stamp duty is now accounting for more than a quarter of state government revenue in NSW.
<a href="https://www.propertyobserver.com.au/images/2017/03/30/Chart-1.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/30/Chart-1.jpg" alt="">
I noted last year how the NSW government has smashed its budget targets to leave itself with net debt of less than zero for the first time, largely thanks to this remarkable windfall.
A proposed alternative would be to put an annual tax on the unimproved value of residential land, including for the family home (there is already a land tax threshold in place, but it doesn't capture all homeowners due to an exemption on the family home).
The main challenge is that with residential land values in New South Wales of $1,657 billion, the annual tax would have to be quite significant to raise the equivalent $9.4 billion.
Recent proposals have included an annual land tax of 0.75 per cent.
<a href="https://www.propertyobserver.com.au/images/2017/03/30/Chart-2.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/30/Chart-2.jpg" alt="">
There are now just over 3 million dwellings in New South Wales, so another way to look at it is that households and owners of other residential dwellings may have to stump up on average $3,100 per annum to raise the equivalent amount of tax.
<a href="https://www.propertyobserver.com.au/images/2017/03/30/Chart-3.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/30/Chart-3.jpg" alt="">
A proposed land value tax would typically deliver comparatively little pain for those living in an apartment, since the land value content of such dwellings is relatively low.
On the other hand I think of the retirees on my street who now have very valuable land under their homes, for which the annual land tax bill would be impossible for them to pay.
So the argument goes, by taxing people on their homes they will be 'incentivised' to move somewhere smaller and more appropriate for their needs.
It could certainly happen over time, though it would be a brave move politically.
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank">Four Green Houses and a Red Hotel</a>.
</body></html>

Stamp duty bonanza: Pete Wargent 

<html><body>
An application has been filed in Queensland’s Supreme Court to appoint statutory trustees to sell the Don Pancho Beach Resort property at Bargara in Queensland, according to a notice for members on the resort’s website.
The matter will be heard by the Supreme Court in Brisbane on April 12. 
Located at Bargara, the white-painted, Mediterranean-style resort is positioned at the gateway to the Great Barrier Reef. It is part of the Bundaberg area.
The land area is 3,940 square metres and the zoning is medium density residential.
Rooms are priced from $88, according to the resort's website.
Members may be entitled to a share of the proceeds on the sale of the property, the note says. 
A resolution was passed by a majority vote of members at the Extraordinary General Meeting held on 11 May 2016 in favour of making this application. 
</body></html>

prateek24-ezbwHMbNAk

Don Pancho beach resort in Bundaberg seeks trustees for sale

<html><body>
A building in the suburban Brisbane masterplanned Lakes Vista Office Park, located in North Lakes,  has sold for $6.75 million.
Building 12 incorporates 1,382 square metres of office and retail space, as well as 46 car park bays.
The property was purchased by Stronghold Investment Management, headed by Steve De Nys and Tony Boyd.
The sale realised an initial yield of 8.29%.
Once fully developed the office park, located just over 25 kilometres north of the Brisbane CBD, is planned to have approximately 13,228 square metres of commercial accommodation.
JLL’s Christian Sandstrom said the sale was indicative of the strength of the suburban office market in the city, with over $100 million worth of office buildings being transacted in 2016.
“Designated office parks in Brisbane have matured, with more experienced investment groups having accepted them as a designated office/employment precincts and we believe they will become increasingly popular by investors,” said Sandstrom.
</body></html>

Surburban Brisbane office building sells for $6.75 million

<html><body>
Rental growth remains positive but is below 2% across the JLL neighbourhood and sub-regional centre portfolios, according to JLL’s latest report.
This annual report highlights the retail market industry and the views of retail centres managers on how the retail industry is doing.
Annual rental growth in neighbourhood centres rose from 0.7% in June 2016 to 1.2% in December 2016.
Annual rental growth across the sub-regional centre portfolio declined slightly from 1.8% in June 2016 to 1.5% in December 2016.
However, a number of centre managers highlighted that many tenants had expectations of reduced rents and generous incentives at the end of their current lease term, citing alternative options in neighbouring centres should their expectations not be met.
Rental growth was mixed amongst JLL managed centres, with a third of centres experiencing a decline in average rents and the remaining two thirds reporting an increase.
<a href="https://www.propertyobserver.com.au/images/2017/03/28/Figure%203.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/28/Figure%203.jpg" alt="">
Respondents were asked to compare the level of tenant enquiry over the last six months (to December 2016) with the previous six- month period (to June 2016).
Figure 4 highlights the “net balance” in enquiry levels between December 2011 and December 2016.
<a href="https://www.propertyobserver.com.au/images/2017/03/28/Figure%204.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/28/Figure%204.jpg" alt="">
Tenant enquiry remained below the neutral 0.0% mark, with a net balance of -6.4% compared with -7.8% in June 2016.
This is the second survey in a row of negative results after four surveys where the net balance was in positive territory.
The results highlight a continued challenging market with relatively subdued tenant enquiry levels.
Overall, response was very similar to the previous Survey covering the six months to June 2016.
Most respondents indicated no change in enquiry levels in the second half of 2016.
<a href="https://www.propertyobserver.com.au/images/2017/03/28/Figure%205.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/28/Figure%205.jpg" alt="">
Enquiry continues to be dominated by 'mum and dad' retailers, which reflects both the high number of neighbourhood centres within the centre managers’ survey and the cautious approach being taken by national chains to expansion.
<a href="https://www.propertyobserver.com.au/images/2017/03/28/Figure%206.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/28/Figure%206.jpg" alt="">
As with recent surveys, the stand-out sectors continue to be food based retailers and casual leasing.
However, enquiry in these sectors has been stable with at least half the respondents stating that enquiry was moderate, strong, or very strong.
There is a slight improvement in enquiry levels in the discount variety sector.
Japanese groups such as Daiso have been active in this space.
<a href="https://www.propertyobserver.com.au/images/2017/03/28/Table%202.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/28/Table%202.jpg" alt="">
</body></html>

Retail rental market remains positive despite meagre growth: JLL

<html><body>
GUEST OBSERVER
Australia has experienced a period of strong demand for commercial property which has led to firming yields and high prices.
There is still a substantial amount of investment capital looking for opportunity but the lack of availability of suitable stock has led to a reduced volume of transactions during 2016. Most property markets are, or are close to being, fully valued.
Going forward, rising bond rates and slow to moderate economic growth will have an impact on property markets. As growth stays below long term trends, and rates rise, prices will soften.
In this type of environment, leasing conditions will re-emerge as the primary driver of property outcomes. The key question is the extent to which growth in net effective rental income will offset the negative impact of rising interest rates on yields.
Cyclical factors will have a greater influence on prices in office property markets than that of rising interest rates on yields. The key is to invest in strong leasing markets with prospects for strong rental growth.
Sydney remains the pick of the markets. Demand has been improving moderately but with development virtually stopped and stock availability declining due to the Metro rail project and increased residential conversions, falling vacancy rates have meant strong rises in effective rents as leasing incentives reduce.
Vacancy rates are forecast to be less than 5% for the next three years, driving further rises in net effective rents and property prices. However, strong capital growth over the last year has reduced prospective returns. There are still opportunities for investment, and this is the phase where repositioning, major refurbishment or new developments can generate returns, but each opportunity needs to be examined on its own merits.
Last year, demand for office space was moderate in Melbourne. But, unlike Sydney, there has been plenty of development to satisfy requirements. In the short term, Melbourne will be hit by a weakening of demand as it absorbs the loss of the remaining car manufacturers and many associated suppliers, as well as a slowdown in residential construction.
Once that shock is absorbed, however, Melbourne will recover. It still retains many of the advantages—notably cheap land for residential, commercial and industrial property—which gave it a competitive advantage over Sydney in the provision of back-office services for national operations. Melbourne office demand will grow slightly more strongly than Sydney in the next decade but rent and property value growth will be inhibited by the plentiful availability of sites.
The Brisbane economy is still suffering from the continuing loss of demand from mining services. In the boom, 25% of Brisbane’s office space was occupied by companies servicing mining. Demand will be hit further when the inner Brisbane apartment market turns down.
Medium term, the prospects are good as Brisbane will benefit from strengthening activity in tourism, education services and agriculture. The short term will be difficult due to the existing oversupply of office space with little prospect of a substantial improvement in demand to absorb it. The vacancy rate is currently above 15 percent and will still be above 10 percent at the end of the decade.
The Perth economy is collapsing under the weight of the end of the mining boom. Investment has further to fall and the economy will stay weak for some time. During the boom, half of Perth office space was occupied by companies servicing mining. Much of that demand is now gone and the vacancies will take a decade to absorb. Rents and property values will fall a lot further.
Adelaide is suffering from weak demand and oversupplied office space. Although the worst may be over in terms of demand-side weakness, there is no prospect of sustained growth for a couple of years as the local economy deals with the closure of the GM Holden plant. The patrol boats, frigates and submarines projects will help but not until the end of the decade.
Canberra remains a difficult market. We are coming to the end of the period of substantial oversupply and A grade vacancies have tightened everywhere except at the airport, where there is still plenty of space. However, new construction is about to get under way in Civic, while some secondary properties lie vacant and are difficult to lease.
Retail property markets
Regional and sub-regional centres
Retail property remains a highly popular investment. The volume of transactions reached record levels over the last few years and only a shortage of regional centres for sale has constrained the market. Some existing owners are instead now ploughing additional capital into centre refurbishment/expansion projects.
Retail yields have firmed aggressively over the last few years and are averaging around that of the last market peak. Yet retailing conditions are not nearly so strong. Growth has been slowing in trend terms since early 2014. While larger retailers and chains are outperforming smaller retailers, there have nonetheless been several high profile failures in the last few months. 
The soft economy and weak household income growth will continue to constrain retail expenditure for the rest of this decade. Strong regional differences will emerge as former mining boom areas suffer, while those regions dependent on tourism, education services and other sectors that benefit from a lower Australian dollar enjoy stronger growth.
Shopping centre net operating incomes face further challenges from the poor performance of many anchor tenants and likely pressure on retailer profit margins (and hence their capacity to pay higher rent) from a lower Australian dollar. Changes in tenancy mix, a greater reliance on food and beverage retailers and service sector tenants, and costly upgrades will be required to protect against these threats.
Despite the challenges, centre incomes are, to a great extent, protected by anchor tenant rent and rents from non-expiring specialties on fixed annual escalations. Yields could remain low for some time but they will eventually follow bond rates up.
Large format retail
The large format retail property sector enjoyed another strong year in 2016 across a range of indicators. Strong demand from both consumers and retailers helped to push vacancy rates lower, in turn encouraging rental growth. Meanwhile, the investment market is buoyant.
However, the surge in consumer spending is now past and activity is at more moderate levels. This comes at a time when supply of centres is likely to surge after seven weak years. Reconfiguration of ex-Masters stores into centres could add up to 700,000 square metres of ‘new’ centre floor-space. Moreover, there are also 21 development sites to be accounted for.
Smaller existing centres and strip shopping locations are likely to be the main losers to the ‘new’ ex-Masters centres. Larger, dominant centres are unlikely to suffer as much. Bunnings is a clear winner in the whole process, with a major competitor gone and a great opportunity to pick up new sites easily.
Longer term, the outperformance of larger retailers and chains is expected to continue. Even so, it will be no match for the pace of growth in the 2000s.
On the investment side, demand remains strong. A record dollar value of transactions was achieved in 2015–16. The strength of investor demand has pushed down yields with further yield firming likely over the next 12 to 18 months. Rising bond rates, already putting upwards pressure on yields, will win out after that. Prime values are likely to stagnate rather than fall, but secondary centres could see a drop in prices.
Retail looks reasonably valued, with expected returns around current investment hurdle rates. Even so, retailing and retail property face major challenges. Large format retail has the best estimated return, reflecting its higher yield. Its low rent and expansion opportunities will help it to absorb the Masters properties and secure the longer term strength of the sector, but in the short term there are risks from the amount of reconfigured Masters floor-space likely to come on to the market.
 Industrial property markets
The years of strong investment returns from industrial property are coming to an end, with the period of falling interest rates that had underwritten firming yields and strongly rising asset values now over.
Softer future yields will have a negative impact on valuations and also on construction feasibility, requiring higher pre-lease effective rents to underwrite the financial feasibility of development projects. The transition to higher rents will be relatively smooth, though the risk is that it may take a year or longer. If this occurs, falling vacancies would eventually deliver the necessary step-up in rents.
Industrial property development is running close to demand. Ready availability of land and development competition is keeping a lid on residual land prices, rents and property values, suppressing a cyclical upswing. That makes it less risky but slightly overvalued in relation to market hurdle rates.
Summary
This is an uncertain time for property investors. After a long period of falling interest rates driving firming yields, we are on the threshold of a phase of rising interest rates. The uncertainty is how quickly and by how much interest rates will rise. When they do, yields will soften but that will be offset by the impact of rising rents.
This suggests that yields may have a little further to firm before the impact of rising interest rates comes through.  Meanwhile, continuing soft economic growth means continuing weak demand, in the transition to a post-mining boom economy. The result is marked differences in performance between industries and regions.
Damian Horton is head of property, Cromwell Property Group and can be contacted <a href="https://www.cromwell.com.au/" target="_blank">here</a>.
</body></html>

jchancellor-FAypfDUnLy

2017 Australian commercial property market outlook: Cromwell's Damian Horton

<html><body>
An childcare investment property at Tamworth has been listed for sale.
Located at <a href="https://www.realcommercial.com.au/property-medical+consulting-nsw-tamworth-502320806" target="_blank">8 Patrick Street</a>, the property has a five year lease to G8 Education until May 2029.
There is two further 5 year options to extend until May 2039.
It has a fixed annual rental increase of 4 percent plus ‘ratchet’ provisions.
The property is well maintained and licensed for 38 places with all outgoing fees paid for by the tenant.
It has a net income of $97,525 per annum plus GST.
Positioned in a highly regarded place TAFE New England is 200 metres away while Tamworth’s CBD is only a kilometre.
The auction is on April 4 through Burgess Rawson agents Dean Venturato, Natalie Couper and Adam Thomas.
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News