Toorak's dress circle St Georges Road, home to some of the city's priciest homes, is set for a rare new apartment development.

Blood Diamond Group, an entity tied to Tina Brandi, wife of David Brandi who has been a prolific bidder on The Block over the years, has filed plans for an ultra-exclusive development across an amalgamated 3,662 sqm site at <a href="https://www.apartments.com.au/new-apartments/104-106-st-georges-road-toorak-vic-3142">104 and 106 St Georges Road</a>.

The proposal would replace two existing homes on the riverfront site with a five-level apartment building cascading down the steeply sloping land toward the Yarra River. Designed by Charles Wright Architects, the development has been carefully shaped around the site’s topography and river environs, with the upper levels stepping back to reduce visual bulk from both St Georges Road and the Yarra corridor.

Planning documents describe the proposal as “a site layout and building typology that is consistent with the emerging character of the area and which provides exceptional amenity for future residents without compromising that of neighbouring properties.”&nbsp;

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ea19a17e-7528-4fa8-b727-05f2f7c025e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20a_0.png?VersionId=rZ2IjdoUL_UrRl1sZ4wZHnQXbYUaEmUQ" />

The scheme comprises 12 apartments, including 10 three-bedroom residences, one one-bedroom apartment, and a substantial split-level five-bedroom penthouse. A 624 sqm communal rooftop terrace will crown the building, while three undercroft levels embedded into the hillside will accommodate apartments and basement parking.

The design leverages the site’s dramatic northern outlook across the Yarra River, with living areas and balconies oriented toward the water. A central atrium running the full height of the building is intended to draw natural light deep into the residences and improve internal amenity.

Landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo Design &amp; Landscape</a> will play a major role in softening the built form, particularly along the river edge where significant setbacks have been introduced. The proposal includes a minimum 30-metre setback from the Yarra River boundary, preserving a substantial landscaped buffer between the development and the waterway.

While a mature English Oak near the front of the site is proposed for removal, the plans retain a large English Elm closer to the riverfront, alongside other established vegetation in the lower section of the property.

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ed3bf19b-5bc7-482f-bde7-41f709a13c3a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20b.png?VersionId=SG_kBGu4rOaSPY8FtVcmPJfSCrstuOfg" />

Architecturally, the building adopts strong horizontal forms with expansive glazing and curved balcony edges facing the river. Planning documents note the upper levels “adopt a receding form” to ensure the building responds appropriately to the Yarra River environs overlay controls.&nbsp;

The surrounding streetscape is characterised by large contemporary homes embedded into the hillside, many presenting as modest one or two-storey forms to the street before expanding toward the river frontage below. The planning report notes this established pattern heavily influenced the massing strategy for Toorak Pavilion.&nbsp;

Until the recent sale of the landmark Clendon Road mansion Coonac for around $130 million, St Georges Road held the state's most expensive home, the $80,000,088 derelict "Ghost House" mansion that was bought by crypto king Ed Craven.&nbsp;

Blair House, also on St Georges Road, sold for $74.5 million in 2022.

Joel Robinson

First look: Toorak Pavilions slated for dress circle St Georges Road

Six months after a development site on Kangaroo Point’s Shafston Avenue sold for $6.55 million, plans have been lodged for a 23-storey apartment tower.

A company named JMT Mega Capital, understood to be interstate investors when the 1,222 sqm double block traded late last year through Patona Property, is proposing an 84-apartment development in place of the existing low-rise buildings.

The slender tower at <a href="https://www.apartments.com.au/new-apartments/212-220-shafston-avenue-east-brisbane-qld-4169">212–220 Shafston Avenue</a>, overlooking the Brisbane River, has been designed by <a href="https://www.apartments.com.au/architects/aplus-design-group">Aplus Design Group</a>. It will comprise a mix of one-, two- and three-bedroom apartments above six basement levels, topped by rooftop resident amenities.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="7e17ba9e-553e-42ef-92b6-22081671521a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_3.png?VersionId=hlVUf99vrOjUs.vhQs0qV0DhOncUy9T8" />

The development has been designed as a vertically articulated tower with recessed balconies, curved façades and planted edges intended to soften its scale within the evolving Shafston Avenue skyline. In the submitted Urban Design Report, Aplus Design Group said the tower had been “shaped with a slender vertical expression, articulated façades, recessed balcony zones, integrated planting and a clearly defined podium relationship, helping to reduce perceived bulk and create a more elegant contribution to the Shafston Avenue streetscape and broader Kangaroo Point skyline.”

The scheme comprises 84 apartments, including 25 one-bedroom units, 34 two-bedroom apartments and 25 three-bedroom residences. A total of 104 car spaces are proposed across six basement levels, including resident, visitor and accessible parking.

Residents will have access to rooftop communal open space and shared amenities, while the development also incorporates deep planting zones and subtropical landscaping throughout the podium and tower levels. The project includes 35 per cent communal space coverage across the site and a 17.5 per cent deep soil zone allocation to support urban greening outcomes.

The application exceeds the mapped building height under the Kangaroo Point Peninsula Neighbourhood Plan and is being assessed under Brisbane City Council’s impact assessment pathway. The design team argues the additional height is supported by the site’s strategic inner-city location, existing high-density zoning, and proximity to transport and employment hubs.

“The design has been developed to make better use of a well-serviced urban site within an established high-density residential setting, while improving the street presentation and overall quality of the public realm interface,” the report states.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="1ab44b1e-ff45-4bf3-8da8-8aa0cd79db33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_10.png?VersionId=tSxeGekZOqj1e9g3PEn_yFoC3taKDp3U" />

The proposal adds to a growing pipeline of apartment developments reshaping Kangaroo Point ahead of the 2032 Brisbane Olympic Games, with demand continuing to strengthen for new housing supply in well-connected inner-city precincts.

Mosaic has nearly sold out its under-construction <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford by Mosaic</a>&nbsp;and <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a>,&nbsp;while Pikos recently completed <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye Residences</a> nearby. Pikos is also delivering <a href="https://www.apartments.com.au/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point-qld-4169">Gaia</a>, over 230 three- and four-bedroom apartments on Lambert Street.

First look: 23-storey Kangaroo Point apartment tower planned for Shafston Avenue riverfront precinct

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.

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

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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Commercial property investing can be complex and the jargon can sometimes be overwhelming.
Property fund manager Charter Hall’s magazine Directly Speaking tries to demystify commercial property jargon for you:
AB 
Anchor Tenant: Key tenant(s), who attract other tenants and customers to a shopping centre. 
A-REIT: Australian Real Estate Investment Trust is the pooled capital used to purchase and manage real estate investments to provide investors a return. Often traded on a stock exchange. 
ASX: Australian Securities Exchange 
Average Lease Term: see WALE. 
Basis points: Generally used to define differences in yield. 1% is equal to 100 basis points. 
Benchmark: Relative measure of performance. Often used as a synonym for Index. 
Book Value: Value of an asset for accounting purposes, representing its cost plus any additions, less depreciation. 
CD 
Capitalisation Rate: The rate at which the annual net income from an investment is capitalised to ascertain its capital value. 
CHC: ASX ticker code for the Charter Hall Group. 
CHDPML: The Responsible Entity for Charter Hall’s direct property funds. 
CHIFs: Charter Hall’s investment fund syndicate series. 
Commercial Property: Office, industrial and retail investment property. 
CQR: ASX ticker code for the Charter Hall Retail REIT. 
DA: Development Application 
DD: Due Diligence 
DIF3: Charter Hall Direct Industrial Fund No.3 
Direct Property Fund: An unlisted property fund, trust or syndicate investing in commercial property but not listed on the ASX. Available to all investors. 
Distribution: Regular income payments made from the fund to investors. 
DOF: Direct Office Fund 
DRP: Distribution Reinvestment Plan is the opportunity to reinvest distributions by purchasing additional units. 
EFGH 
Effective Rent: Rental payments less landlord concessions or incentives. 
EOI: Expression of Interest.
Gearing: Total interest bearing liabilities 
divided by the total assets. 
GLA: Gross Lettable Area is the total amount of oor space available to be rented. 
HOA: Heads of Agreement is the agreement with a prospective tenant before the lease is signed. 
IJK 
ICR: Interest Cover Ratio is revenue over the interest expense. 
Independent Valuation: Actual value of a property from an independent, impartial property agent. 
Initial Yield: The annualised property income expressed as a percentage of the property value. 
IPD: Investment Property Databank provide research-based indexes and analytics. 
LMN 
Lease: Binding agreement where one party agrees to rent property from another party for a fixed period. 
LVR: Loan to Value Ratio is a method of determining borrowing capacity, usually expressed as a %. 
Major Tenant: Normally the largest tenant(s) in an of ce or industrial property. 
Market Price: The price actually paid for a property. 
Market Rent: Rent applicable to a property in the open market. 
NABERS: National Australian Building Energy Rating Scheme 
NAV: Net Asset Value is total assets minus total liabilities. 
Net Absorption: Difference between space leased and space supplied over a set time period. 
NGERS: National Greenhouse and Energy Reporting Scheme 
NLA: Net Lettable Area is the total amount of floor space available to be rented. 
OPQR  
Occupancy: The number of tenants at a given property, usually expressed as a % i.e. 98% occupancy. 
PCA: Property Council of Australia is the industry body and leading advocate for Australia’s $600 billion property industry. 
PDS: Product Disclosure Statement
or Prospectus is the offer document containing information for assessment of a specific investment opportunity. 
PIR: Property Investment Research is an Australian provider of property funds research and analysis. 
RE: Responsible Entity is responsible for managing an investment trust on behalf of scheme members. 
Retail Property: Shopping centres including regional, sub-regional and neighbourhood centres. 
STUV
Sqm: Measurement of square metres. 
Tax Deferred: Portion of distributions that are income tax advantaged due to depreciation. The cost base of units for calculation of capital gains must be reduced by the amount of tax deferred income received. 
Unlisted Property Fund: see Direct Property Fund. 
WXYZ 
WALE: Weighted Average Lease Expiry is a metric used to express the duration of lease commitments across a portfolio. 
Yield: The ratio of net income from an asset to value of the asset, expressed as a %. In terms of property trusts it can be calculated as distribution divided by market price, multiplied by 100. 
 
 
 
 
 
</body></html>

jonathanchancellor-7SQnKwU6yx

Commercial property jargon, simplified: Charter Hall

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The office vacancy rate on Melbourne’s most famous boulevard, St Kilda Road, has fallen to 7.3 percent, its lowest level in eight years, according to property firm Savills’ latest Fringe Office market research.
The fall in vacancy from 10.8 per cent in July 2013 drove rental growth of 23 percent over the last three years including 12 percent in the last 12 months. The market is so tight that vacant is 38 percent below the average vacancy over the last 25 years. 
Monica Mondkar, manager-Research &amp; Consultancy, said, “Net face rents in July 2013 ranged between $270 and $325, and in July 2016 between $340 and $400. Based on an average rent, that is a 23 percent rise over the last three years.”
Vacancy peaked at 22.4 percent in July 1992 following the Savings and Loan Crisis but has been on a rollercoaster ride ever since.
However, according to Savills associate director-Office Leasing, Kizzy Okoukoni, the latest figure has more to do with the iconic boulevard’s residential makeover than an economic recovery. 
“Ongoing demand for CBD fringe office space is of course a key contributing factor in the tighter vacancy level but the continual withdrawal of stock for other uses, predominantly residential, has also been a significant determinant,’’ Okoukoni said.
Despite residential conversions St Kilda Road is still Australia’s fourth largest non-CBD office market with 686,175 square metres of office space. It has lost less than 1.2 percent of office space to residential use per year over the last 10 years, however, this has accelerated in recent years.
"It’s only a matter of time before the commercial/residential property profile balance in St Kilda Road, which currently has a two thirds office/one third residential mix, shifts permanently to residential.
"For some landlords maintaining an older office building with any vacancy, on top of exorbitant land taxes, is not a long term option.
"There is no way this can stack up when a residential redevelopment can mean such a massive increase in return on the property,’’ Okoukoni said.
Office buildings likely to withstand this change would be the more modern ones with long-term tenants, he added.
But despite the incentive to convert to residential use, office property would always maintain a significant presence on St Kilda Road, he said.
“Residents need services, they need supermarkets, they need childcare, they need restaurants, cafes, accountants, financial planners, gymnasiums, etcetera.”
<a href="/images/2016/08/29/charty.png" target="_blank"> Click to enlarge</a>
<img src="/images/2016/08/29/charty.png" alt="">
The total investment sales on St Kilda Road were $246 million with the most notable being AMP Capital’s acquisition of 636 St Kilda Road for $87.5 million and Bayley Stuart Capital’s purchase of 616 St Kilda Road for $40 million. Domestic funds and syndicates accounted for 52 percent of the sales by value.
Mondkar said yields on the boulevard over the 12 months had firmed by 25 basis points and now range from 6.75 to 7 percent. In comparison, in September 2013 yields ranged from 8 to 8.75 percent. 
 
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Office vacancy in Melbourne’s St Kilda Rd at lowest level in eight years: Savills

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The entreprenurial Shark Tank Australia judge Andrew Banks is looking for a buyer for his Beverly Hills mansion, someone willing to part with US$17.495 million. (AUD $22.99 million)
Banks has somewhat disappeared from Sydney's eastern suburbs scene since selling Villa Veneto at Point Piper in 2011 for $52 million, however he remains important enough in Los Angeles for the Variety website to write about his listing. 
The Aussie headhunter turned film producer is looking to double his money, having paid US$9.18 million for the seven bedroom European-style mansion four years ago. Banks is based in Los Angeles, where his two children moved to live. Banks emigrated to Australia from Britain in 1972 and had initially pursued a career on the stage, having worked as an actor in The Old Tote Theatre Company.
<a href="https://www.theagencyre.com/for-sale/808-n-alpine-drive-beverly-hills/" target="_blank">Entering the 10,522 sqm remodelled home</a> through a two-story foyer with two curving staircase, there's grand formal rooms including an elegant dining room, a family room and a music room with wet bar.
The master suite comes with its very own sauna, fireplaces and private terrace. There's also a home office, gym/yoga studio, a theatre and an elevator.
Tall privacy hedges surround the swimming pool and spa area, which is accompanied by a pool house - also with its own sauna - and an outdoor kitchen.
A guest house lies at the rear of the grounds. 
James Harris, David Parnes and Marisa San Antonio, all with the Agency, hold the listing.
Banks co-founded the recruitment company Morgan &amp; Bank in 1985 and then two decades later human resources company Talent2 International.
He got a taste for the big screen after producing American drama film Kumiko, the Treasure Hunter in 2014 and went on to become founder of production company Lila 9th Productions.
During the inaugural season of Shark Tank, Banks invested in Bottlepops, Synxsole and the Hamdog. He is also behind the fast-growing, LA-based education technology company which has ABCmouse.com and other innovative educational resources for young children. Andrew became the first member of the International Board of Age of Learning.
This article was first published in the Saturday Daily Telegraph.
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j.ballantyne1990-6AQqhLzZaK

Shark Tank's Andrew Banks lists Beverly Hills trophy home

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GUEST OBSERVER
We all know that housing market conditions are very different from region to region, with values continuing to show strong growth conditions in Sydney and Melbourne, while dwelling values are trending lower in Perth and Darwin. 
One of the fundamental drivers of housing market performance comes back to the balance between housing supply and demand.
All too often, we reference supply levels to the amount of new housing stock that has either been approved for construction, or recently completed. From this perspective, we are absolutely seeing a surge of apartments into inner city markets across the largest capital cities. However, another facet of housing supply relates to how many homes are currently being advertised for sale.
Listing counts
Listing counts, which typically reflect how many established homes are currently available for sale (as opposed to developer stock, or off-the-plan listings, which generally aren’t advertised for sale individually on the major real estate portals such as realestate.com.au) are also an important measure of housing supply.
The number of properties being advertised for sale provides a vital clue about the direction of housing prices. Those cities where advertised stock levels remain short are continuing to see upwards price pressures, while cities with historically high stock levels are seeing downwards pressure.
Take Sydney as a case in point. CoreLogic is currently tracking just over 18,800 listings across the metro region of Sydney. While this headline figure is approximately 4% higher than a year ago, overall stock levels remain historically low. As a comparison point, when the Sydney market was moving through a down phase between late 2010 and mid-2012, CoreLogic was tracking just over 40,000 properties on the market.
<a href="/images/2016/08/30/marketTim_normal.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/30/marketTim_normal.png" alt="">
The fact that Sydney listing numbers remains so low is one of the factors providing the upwards pressure on housing prices. Buyers simply don’t have a lot of stock to choose from, which creates urgency in the market and provides leverage to vendors when setting and negotiating their prices.
At the other end of the spectrum is a city like Darwin, where listing numbers have recently moved through historically high levels. CoreLogic is currently tracking just over 1,600 homes for sale across Darwin. Considering the past 12 months saw approximately 2,160 dwellings sold across Darwin, we can estimate there is roughly 9 months of ‘effective’ housing supply across the Darwin market.
<a href="/images/2016/08/30/marketTim2_normal.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/30/marketTim2_normal.png" alt="">
Watching the trend in listing numbers is an important aspect to understanding local housing market performance. Most cities are still recording a relatively low number of property advertisements compared with historic levels, however with Spring approaching, we are likely to see an upwards trend of newly advertised properties enter the market.
With transaction numbers already trending lower, this upswing in stock levels will provide a timely test of the market’s strength.
Tim Lawless is head of the CoreLogic research and analytics team and can be contacted <a href="https://blog.corelogic.com.au/author/timlawless/" target="_blank">here</a>.
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tlawless-5VLUrbAk9s

The balance between housing supply and demand: Tim Lawless

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<div id="post-body-1153754225725279273" class="post-body entry-content">
<div>According to the Department of Immigration and Border Protection (DIBP) the significant investor visa (SIV) programme is designed to be:</div>
<div> </div>
<div>"...a pathway to provide for significant migrant investment into Australia under the Business Innovation and Investment visa programme".</div>
<div> </div>
<div>From the inception of the SIV programme in November 2012 until 30 June 2015 there had been some 2,573 applications lodged, but only 879 visas actually granted.</div>
 <a href="/images/2016/08/30/SIV2.jpg" target="_blank">Click to enlarge</a>
</div>
<div class="post-body entry-content">
<img src="/images/2016/08/30/SIV2.jpg" alt=""> There can necessarily be a lag between application lodgement and visas being granted. The service standard is 6 to 9 months for the Business Innovation and Investment category. <div> </div>
<div>The latest available statistics from the DIBP showed that 495 of the outstanding applications lodged prior to 1 July 2015 have now been granted.</div>
<div> </div>
<div>A further 20 applications lodged after 1 July 2015 have also been granted in the financial year to 31 May 2016.</div>
<div> </div>
<div>This means that the May 2016 figures recorded a total of 515 SIVs issued for the 11 months for the financial year to date.</div>
 <div class="separator"><a href="/images/2016/08/30/SIV1.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/08/30/SIV1.jpg" alt=""></div>
<div> </div>
<div class="separator">The geographically segmented figures show that high net worth applicants are overwhelmingly focused on Melbourne, and then Sydney...with daylight third. </div>
<div class="separator"> </div>
<div class="separator">This reflects that Melbourne and to a somewhat lesser extent Sydney have been the two key destinations and markets of interest for Chinese investors since around 2012.</div>
<div class="separator"> </div>
<div class="separator">Indeed, the Foreign Investment Review Board (FIRB) Annual Report showed that real estate applications tripled in two years, driven overwhelmingly by a deluge of Chinese investors into Victoria, New South Wales, and Queensland. </div>
<div class="separator"> </div>
<div class="separator">The DIBP statistics for the top five source countries correspondingly show that more than 90 per cent of applicants for SIVs have also been Chinese. </div>
 <div class="separator"><a href="/images/2016/08/30/SIV3.jpg" target="_blank"> Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/08/30/SIV3.jpg" alt=""></div>
 The wrap <div>Since the commencement of the significant investor visa programme in 2012 there have now been a total of 1,397 SIVs granted, leading to just a shade under A$7 billion of investment in complying assets.</div>
<div> </div>
<div>It's difficult to say what the expected take-up for the SIV ever really was, but fewer than 1,400 visas sounds suspiciously like a fizzer of an initiative to me (albeit the composition and destination of applicants says something of note about where capital invested in Australia is coming from and where it is headed to).</div>
<div> </div>
<div>Previously SIV investors were opting to drop money into passive investments such as qualifying government bonds and residential real estate schemes - not really what Australia needs more of, tbh! - which led to a much-needed reassessment of the requirements for complying investments.</div>
<div> </div>
<div>Unfortunately interest in SIVs has been dampened since, following consultation with stakeholders, the rules were amended to require a greater share of the $5 million required investment to hit up venture capital products (at least 10 per cent) and emerging companies (minimum 30 per cent), investments that are typically associated with a higher risk of loss, whether perceived or real.</div>
<div> </div>
<div class="separator"><a href="/images/2016/08/30/DIBP.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/08/30/DIBP.jpg" alt=""></div>
<div> </div>
<div>Source: DIBP</div>
<div> </div>
<div>The most timely available statistics for expressions of interest, invitations, and applications lodged suggest only a modest ongoing flow of interest in the SIV.</div>
<div> </div>
<div>Requiring wealthy Chinese with A$5 million to invest in venture capital projects and emerging companies is a fabulous idea...on paper. In reality, however, this may be too ambitious and result in the killing off of SIV applications given that wealthy foreigners are unlikely to be familiar with the products and ventures in question, and therefore remain understandably reluctant to commit.</div>
<div> </div>
<div>It wouldn't be a surprise to see the rules amended again or relaxed to allow Chinese investors to provide project funding (not passive investment) for residential and commercial real estate developments, or for infrastructure projects.</div>
<div> </div>
</div>
<div class="post-footer"> 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">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" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
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pwargent-M4siyDbqQY

Slow take up of Significant Investor Visa: Pete Wargent 

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A 740 sqm commercial offering in Armidale has been listed for sale at $1.25 million.
Previously traded at $925,000 in 2012, <a href="https://www.realestate.com.au/property-house-nsw-armidale-117673739" target="_blank">110-114 Beardy Street</a> has been marketed as a blue chip investment.
The building has three shop frontage on a high foot and vehicle traffic street. 
The property is listed by Shane Kliendienst at Uphill &amp; Schaefer Real Estate, Armidale.
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Regional Armidale property listed at $1.25 million

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A residential site in Sydney’s Botany, with a development approval in place and a price guide of $10 million, went to auction on August 25 via Raine &amp; Horne.
According to www.realestate.com.au, the site located at <a href="https://www.raineandhorne.com.au/properties/1-5-10-12-morgan-street-botany-2019-new-south-wales-af9c4aad-a078-4a11-a609-b15c54b42205" target="_blank">10-12 Morgan Street</a> was passed in at the auction. 
Listing agent Tony Laing said the “real value in this site lies in the DA approval, and it’s expected the property could command a gross realisation of $30 million plus in off-the-plan sales for a developer”. 
The DA consent allows for a five-storey apartment block, with a mix of 34 one, two and three bedroom apartments and basement parking with spaces for 58 cars.
The property currently comprises five industrial strata units providing an internal building area of approximately 1,653m2.
Laing told trade publication, Logistics &amp; Material Handling that it is expected the property could command a gross realisation of $30 million-plus in off-the-plan sales for a developer.
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Industrial site in Sydney's Botany with development approval on the market via Raine & Horne

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An architecturally designed building in Subiaco, Western Australia is under contract.
The seven-year-old residential and commercially zoned property has 190 sqm of floor space.
The sale comes with council approved permits for a residential space, local shop, medical centre or offices.
It is currently used as an exhibition centre. 
Paxton Head agents Jennifer Lowe and Michael Hoad had the listing of <a href="https://www.realestate.com.au/property-other-wa-subiaco-118477643" target="_blank">316 Rokeby Road</a>.
The property on 323 sqm traded for $495,000 in 1999.
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Perth building offered for mixed-use

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The 97 Elizabeth Street heritage building in Melbourne’s CBD has a new tenant in a burger outlet.
Noosa-based Betty’s Burgers have taken a lease on the ground floor, with the 180 sqm space to be made into its Victorian flagship site. 
Fitzroys agents Rick Berry and Jordan Ceppi brokered the lease.
Betty’s Burgers first expansion was into Surfers Paradise on the Gold Coast, with the Elizabeth Street set to be their third outlet, and first outside of Queensland. 
Berry said market rates for large shops such as this, in this section of Elizabeth Street, are at circa $2,000 per sqm. He didn’t reveal the exact lease amount.
The seven-year deal includes 3.5% increases at reviews and begins from August 15. 
“This former Laura Ashley store is well-positioned in a key CBD retail precinct, with wide frontage to Elizabeth Street,” Berry said. 
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Betty's Burgers the new tenant in Melbourne CBD’s Elizabeth St

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A Tathra coastal property on the Sapphire Coast has been listed for $1.95 million through Tathra Beach Real Estate
The 1,012 sqm property at <a href="https://www.realestate.com.au/property-house-nsw-tathra-122643538" target="_blank">5 Beach Street</a> has the already established licensed restaurant Cliff Place located on the top level.
The lower level has warehouse or factory space.
There's a 15 vehicle car park, a loading dock and dual access.
The B2 local centre zoning allows for top-level living and expansion of the existing cafe. 
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