<a href="https://www.apartments.com.au/developers/shayher-group">Shayher Group</a> has secured approval for its major mixed-use development at 309 North Quay, paving the way for more than 1,100 apartments across two towers on the western edge of the Brisbane CBD.

The approval marks a significant step forward for the 6,436 sqm riverfront-adjacent site near the William Jolly Bridge, an area increasingly targeted for high-density residential development as Brisbane’s Roma Street precinct evolves into one of the city’s key transport and lifestyle hubs.

Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, the approved scheme will deliver <a href="https://www.apartments.com.au/new-apartments/309-north-quay-brisbane-city-qld-4000">two towers</a> rising 56 and 51 storeys, incorporating a mix of one to four-bedroom apartments, branded residences, retail, and hospitality offerings.&nbsp;

The development has been designed as a two-stage project. The eastern tower will accommodate 611 residences, including branded residences and a rooftop sky restaurant, while the western tower will introduce a further 511 apartments.&nbsp;

Rather than treating the site as a standalone tower project, the proposal focuses heavily on the public realm and pedestrian connectivity, responding to the transformation underway around Roma Street Station and the Cross River Rail precinct.

<img alt="Shayher Group secures approval for dual-tower 1,100-apartment North Quay development in Brisbane CBD" data-entity-type="file" data-entity-uuid="c11aa631-aea6-499d-8728-683126f3fa52" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/240522_n11-2.jpg?VersionId=NeKLHwbYutfM7uPGlkyl5Gz92cHrbOPB" />

The towers will rise from a layered podium designed by Blight Rayner, featuring publicly accessible retail, landscaped terraces, and a cross-block pedestrian link connecting May Street to North Quay. The podium design incorporates what the project team describes as a “cliff garden,” with subtropical planting integrated throughout the built form from street level upward.

Plus Studio Director Danny Juric said the design approach sought to establish a stronger relationship between the site, the river edge, and the wider city renewal occurring around Roma Street.

“The design for North Quay by Shayher represents our most significant project in the Brisbane CBD to date,” Juric said.

“Our design proposes two distinctive towers that aim to serve as an organic gateway to the city, framing views to the river, Mount Coot-tha and Roma Street.”&nbsp;

The architecture adopts slender tower forms with faceted glazing and articulated façades intended to respond to Brisbane’s subtropical climate, while also reducing wind impacts at height and maximising river and city views.

<img alt="Shayher Group secures approval for dual-tower 1,100-apartment North Quay development in Brisbane CBD" data-entity-type="file" data-entity-uuid="ea686017-3f17-44e1-8d10-9659b6f6f306" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/09_2025_five-dock-comms-plan.jpg?VersionId=LNvkRBrj2irHReA8cpx_COJ4KOIZHCm." />

According to planning documents prepared by Urbis, the project has been positioned to support Brisbane City Council’s broader inner-city intensification strategy and the ongoing renewal of the Roma Street precinct.

The location places future residents within walking distance of Roma Street Station, the future Brisbane Metro interchange, and the city’s expanding pedestrian and cycling network. The site also connects directly to major road corridors including Coronation Drive and the Inner City Bypass.&nbsp;

The approval adds to Shayher Group’s growing Queensland development pipeline, which also includes the redevelopment of the former Bulimba Barracks site in Brisbane’s inner east.

Joel Robinson

First look: Shayher Group secures approval for dual-tower, 1,100-apartment North Quay development in Brisbane CBD

A full-scale Sky Homes prototype apartment for <a href="https://www.apartments.com.au/new-apartments/zeste-at-the-orchards-norwest-104-fairway-drive-norwest-nsw-2153">Zeste</a> has been opened by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>, offering buyers a look at the final residential release within The Orchards masterplan in <a href="https://www.apartments.com.au/developments/norwest-nsw-2153">Norwest</a>.

The prototype launch coincides with buyer demand for larger apartment living continuing across Sydney’s Hills District.

David Lee, Sales Manager, Apartment &amp; Mixed-Use Developments at Sekisui House Australia said it was evident from the preceding four stages at The Orchards that a large number of buyers were local owner occupiers or downsizers specifically looking for oversized apartments with additional living spaces.

“The majority of buyers prefer to touch, feel and physically sight a full-scale completed apartment, rather than imagining the living spaces from floor plans," Lee says.

"The prototype apartment provides greater clarity and buyer confidence. We expect this will increase sales momentum for Zeste and the Sky Homes in particular.”

[smartcode_project:default project_id=150510 project_image_fid=351878]

Positioned within Stage 5’s Zeste project, the Sky Homes form part of the final opportunity to purchase within the award-winning master-planned community, which will ultimately deliver approximately 1,300 apartments.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, Zeste comprises two residential buildings, Essence and Eden, providing 209 apartments surrounded by extensive landscaping, resort-style amenities and community spaces.

Ben Pomroy, Principal at Rothelowman said Zeste explores a reinvention of the traditional house, in the orchard, synthesising the nostalgic story of the orchard homestead of yesteryear with a contemporary aesthetic inspired by the landscape.

“Natural light and ventilation are key to the design, contributing to a higher quality of life at the human scale. Across all Rothelowman projects, our ethos of ‘a generous eye for life’ drives our consideration of the human experience as the central point of focus of our design process.”

Pomroy says a&nbsp;notable design element is the cathedral glass light boxes incorporated in the joinery, inspired by the idea of wandering the orchard homestead with a lantern in hand, something familiar and nostalgic.

"We took this narrative and gave it a contemporary twist that is both beautiful and functional, creating unique features that unify the kitchen and bathrooms design.”

[smartcode_project:default project_id=150510 project_image_fid=351874]

In addition to the two residential buildings, Zeste comprises a single-story community amenity pavilion nestled in the landscape between Essence and Eden.

“The communal pavilion is a distinctive feature designed to foster a deep sense of community, with nature at its heart," Pomroy added.

"Whether it is watching the football grand final or hosting a family BBQ, the pavilion is designed as a place where residents can create memorable moments with friends, family and neighbours.

Since launching Essence, the first building within Zeste, buyer demand has remained strong with more than 30 per cent of residences already sold. Sky Homes have accounted for nearly 40 per cent of all sales achieved since launch.

“Purchasers are responding positively to the oversized layouts, diverse apartment configurations and the vast range of community facilities that will be available at completion,”David Lee noted.

Zeste Sky Homes represent approximately 35 per cent of the entire Stage 5 offering and are available across both Essence and the yet-to-launch Eden building. Prices for the Sky Homes range from $1,135,000 with one car space through to $1,500,000 for two car spaces.

Apartments across the broader Zeste release start from approximately $715,000, with generous floorplans ranging from 59 to 144sqm. Select residences also feature integrated ‘Max’ spaces, designed to function as flexible areas for home offices, children’s playrooms or additional storage.

Zeste also continues Sekisui House Australia’s sustainability partnership with Altogether Group, delivering integrated water, power and data services alongside passive design initiatives including cross-ventilation, landscaping and water features.

Early purchasers are currently able to access a selection of premium upgrade options, with VIP buyers receiving one complimentary upgrade package. A 2.5 per cent deposit is available for a short time.

Sekisui recently commenced its pre-construction phase. They are expecting an early 2028 completion of Zeste.

[smartcode_project_cta:default project_id=150510]

Zeste Sky Homes prototype opens as buyer demand surges for oversized apartment living

Having recently announced its entry into the booming Gold Coast new apartment market with <a href="https://www.apartments.com.au/new-apartments/aere-chevron-island-18-20-mawarra-street-surfers-paradise-qld-4217">Aere Chevron Island</a>, developer Martello™ is offering generous stamp duty savings for buyers before June 30.

Martello™ says the incentive creates a more accessible entry into premium apartment living.

"While incentives in property are nothing new, today’s stamp duty contributions arrive at a particularly important moment," the developer says.

"Buyers are not only seeking quality homes and strong locations; they are also looking for smarter financial entry points. Reducing or offsetting stamp duty can represent tens of thousands of dollars in savings - funds that can instead be directed toward furnishing a home, reducing mortgage pressure, or simply providing peace of mind during the transition into ownership."

[smartcode_project:default project_id=143932 project_image_fid=367517]

Aere is one of the more boutique new developments on Chevron Island, with just 33 apartments across 18 storeys on Mawarra Street

The developer has placed a strong emphasis on wellness, briefing architecture firm Raunik Design to embed this philosophy into the project.

<a href="https://www.apartments.com.au/developers/martello">Martello™</a>&nbsp;has positioned Aere as a continuation of its human-centric development approach, with a focus extending beyond amenity to the fundamentals of layout, natural light, and spatial planning.

[smartcode_project:default project_id=143932 project_image_fid=368446]

To bring a heightened level of confidence to the project, <a href="https://www.apartments.com.au/developers/martello">Martello™</a>&nbsp;has already appointed Promax Construction to build the tower. They are expected to start construction in the coming months.

Martello™ says that in any market cycle, confidence matters.

"Buyers who may have been waiting on the sidelines are now reassessing their timing as developers and vendors introduce meaningful incentives designed to support decision-making. For owner-occupiers, it creates an opportunity to secure a premium residence with reduced upfront costs. For investors, it can improve the overall acquisition equation at a time when rental demand remains exceptionally strong across many key markets."

&nbsp;

[smartcode_project:default project_id=143932 project_image_fid=367507]

Aere offers a mix of two-, three-, and four-bedroom apartments, the latter of which occupy half a flor. These layouts prioritise separation between living and sleeping zones, along with increased privacy and storage, features more commonly associated with detached housing than traditional apartment product.

Aere’s private resident amenity spaces centre on wellness. A rooftop level will incorporate a heated swimming pool, sauna and spa, alongside a residents’ lounge, dining areas and barbecue spaces, while additional shared facilities throughout the building include a gym and yoga area.

[smartcode_project:default project_id=143932 project_image_fid=367515]

&nbsp;

"What we are seeing now is a market that rewards readiness," Martello added.

"Buyers who are informed, financially prepared, and willing to act decisively are finding opportunities that may not exist once conditions shift again. Incentives such as stamp duty contributions are typically limited in duration and allocation, particularly within tightly held developments where demand remains high.

&nbsp;

Offer available on selected residences at Aere Chevron Island only. Stamp duty contribution provided by the developer at settlement and cannot be exchanged for cash or combined with any other offer unless approved by the developer. Offer valid for contracts signed on or before 30 June 2026. The developer reserves the right to amend or withdraw the offer at any time without notice. Terms and conditions apply.

[smartcode_project_cta:default project_id=143932]

Martello™ offers limited time stamp duty concessions at Aere Chevron Island

New development specialists Lachlan Cottee and Ben Dalgleish have unveiled their new development firm, Dalcott, following several successful projects delivered under the Pyco banner across the region.

Pyco is currently delivering Atelier in nearby West End, Nouveau in Albion, and Onde at Kirra, its debut Gold Coast apartment development in the booming Kirra Beach precinct.

Its first plans under the new Dalcott banner are in South Brisbane, which has been Brisbane’s most enquired-on suburb so far in 2026, while neighbouring West End has also continued to record strong demand.

The developer already has approval for an 11-storey building with 65 apartments on Browning Street, however has recently acquired the adjoining 910 sqm site at the rear, creating a combined 2,746 sqm footprint that will now allow for two 11-storey buildings with 92 large-scale apartments, a configuration Cottee and Dalgleish have focused on across their local portfolio.

The project, known as <a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a>, will comprise 84 three-bedroom apartments, 16 of which will include an additional multipurpose room, and just eight two-bedroom residences.

DAH Architecture has led the design of Marrone, which will include more than 330 sqm of communal open space and rooftop recreation areas.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="7eeea1a0-be23-47c8-80fb-3409428241fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-21%20at%209.36.38%E2%80%AFAM.png?VersionId=pZW7o.tB7oJovYCRIFSxrZbMr6QdpHy." />

Cottee told Apartments.com.au the project reflects a gap in Brisbane’s apartment market.

"It is an area we know well with Atelier, another development which focuses on large apartments, less than 300 metres away," Cottee says.

"There's limited supply of large-scale apartments of this size in a single building in Brisbane. The majority of apartments in this category are in considerably smaller buildings, on the water, and are only really accessible to the deepest of pockets.

"Marrone will offer the same size and scale, but with greater amenity and at a much more realistic price point for the market."

The architectural approach reflects the continued evolution of South Brisbane’s higher-density residential character. Renders show a heavily landscaped façade composition with curved balconies, textured brickwork, deep recesses, and integrated planting aimed at softening the scale of the twin towers.

The revised proposal builds on the design narrative established in the original scheme. In the earlier submission, Gatehouse Architects described the project as a continuation of Browning Street’s long-term urban transformation.

“The proposal echoes the spirit of early developments like Watson Terrace (built in 1888), by contributing to the growth and diversification of the local population,” the original design statement noted.

“Just as Watson Terrace played a role in the area’s early gentrification, this development continues that trajectory, delivering contemporary housing that addresses the evolving needs of South Brisbane’s expanding community.”

The updated proposal, designed by DAH Architecture, spans a 2,746 sqm corner site with frontages to Browning and O’Connell Streets. The development will comprise two 11-storey residential buildings delivering 92 apartments, replacing the previously proposed 65-unit scheme.

The apartment mix has shifted further toward larger owner-occupier residences, continuing Dalcott’s established strategy across South East Queensland. The plans include 68 three-bedroom apartments, 16 three-bedroom apartments with multipurpose rooms, and eight two-bedroom residences. Two basement levels will provide 142 car spaces, alongside bicycle parking for 115 bikes.

The larger Marrone proposal arrives amid sustained redevelopment momentum across South Brisbane and the wider Kurilpa precinct, where developers are increasingly targeting owner-occupiers seeking larger apartments close to the CBD, cultural precincts, and riverfront amenity.

The site sits within walking distance of South Bank, the Queensland Performing Arts Centre, Brisbane State High School, and several major transport connections, while nearby Fish Lane and West End continue to drive demand for higher-end inner-city apartments.

Cottee is expecting Marrone to launch around August with Realm Projects.

Exclusive: Dalcott doubles down on South Brisbane with twin-tower Marrone plans

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<a href="https://www.apartments.com.au/developers/doma-group">DOMA Group</a> has unveiled plans for Newcastle Quay, a major waterfront precinct set to reshape Newcastle’s harbourfront and further cement the city’s evolution into one of Australia’s fastest-growing urban destinations.

Positioned on a prominent site within the Honeysuckle Precinct, Newcastle Quay will span both sides of Honeysuckle Drive, connecting directly to the Foreshore Promenade and sitting within walking distance of Newcastle Interchange.

The mixed-use precinct is planned to include around 1,000 apartments, more than 28,000 sqm of commercial office space, 6,000 sqm of retail, and a 180-room hotel anchored by a 500-seat conference and exhibition centre, a move expected to significantly lift Newcastle’s ability to attract major business and tourism events.
</section>

<img alt="DOMA Group unveil Newcastle’s future with transformative Newcastle Quay Precinct" data-entity-type="file" data-entity-uuid="0642ca09-67cc-4920-8a7e-d18df9729b4e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/%3D.png?VersionId=CnDmZxQnOV5LN0ePu7jaFBXC9tPGTrWm" />

The proposal builds on DOMA’s growing Newcastle pipeline, where the developer has already delivered 866 apartments and more than 19,000 sqm of commercial and retail space since entering the market in 2013. A further $2 billion pipeline is also in the works across the city.

The masterplan and executive architecture are led by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, with building concepts developed alongside Stewart Architecture, Architecture AND and Curious Practice, and landscape design by <a href="https://www.apartments.com.au/landscape-architect/turf-design">Turf Design Studio</a>. More than 11,000 sqm of open space is planned, including a new waterfront park known as Honeysuckle Green, upgrades to Tree of Knowledge Park, and new pedestrian and cycling links throughout the precinct.

At the centre of the development will be the heritage-listed Wickham School of Arts, which DOMA plans to reposition as the civic and cultural heart of the precinct through restaurants, bars, events and public gathering spaces.

The broader vision is to create a genuine day-to-night precinct, blending residential, hospitality, retail, commercial and cultural uses in a way Newcastle has yet to experience at this scale.

<img alt="DOMA" data-entity-type="file" data-entity-uuid="16e5478e-40a1-4aae-bad0-520cf226eb24" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-22%20at%209.20.45%E2%80%AFAM.png?VersionId=Zs7UFgzGYEbDefCBsqI6W507xnyyiGlm" />

DOMA Group Managing Director Jure Domazet said the aim was to create a precinct that becomes synonymous with Newcastle itself.

“Our vision is to create a precinct that not only delivers high-quality commercial, residential, and cultural spaces, but also defines Newcastle’s waterfront for generations to come,” Domazet said.

DOMA’s Chris Farrington said the project would fundamentally change how Newcastle is perceived nationally.

“Newcastle Quay is more than a waterfront precinct, it is a national announcement for this city,” Farrington said.

“A world-class Conference and Exhibition Centre will open Newcastle and the Hunter Region to a national and international audience for the first time, delivering something this city has long deserved.”

The project is expected to generate more than 4,000 full-time equivalent jobs and act as a major economic driver for the Hunter region through tourism, business events, hospitality and commercial investment.

Minister for Planning and Public Spaces Paul Scully said the final parcel of harbourfront land will be a "true mixed-use precinct destination that includes housing, hospitality and entertainment, commercial spaces, retail, economic and social outcomes."

DOMA Group unveils 1,000-apartment Newcastle Quay precinct

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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Credit Corp Group, an Australian listed company, has committed to a new lease of circa 3,000 square metres at 201 Kent Street, Sydney.
Savills Australia national leasing director Rob Dickins says the deal highlights the Barangaroo effect which has firmly taken hold as corporate users are seeing this now as a firmly established precinct.
"If not moving into Barangaroo they are setting their sights on premium buildings within very close proximity."
201 Kent Street, which forms part of the Maritime Trade Towers Complex, is a 40,000 square metre A-Grade building strategically located within the western CBD fringe bordering the new Barangaroo precinct.
According to Savills National Leasing Director Rob Dickins who brokered the deal, Credit Corp Group have taken the whole of levels 15 &amp; 24 of 201 Kent Street. 
Credit Corp Group’s current HQ are over four floors at 10 Barrack Street and this new move will amalgamate the Group over two whole floors with a brand new fit out.
The 3000 square metre lease was signed for an initial period of five years with a further five year option. Although the rent has not been disclosed rents in 201 Kent Street have been in the order of $675 per square metre net.  
Mr Dickins said that demand for office space at 201 Kent Street had been significant. 
“As at November of last year there was circa 7,000 square metres of vacant space at 201 Kent Street and within less than six months we have leased all available space.”
In three separate leasing deals in May, Savills leased approximately 2,300 square metres of space at 201 Kent Street, tenants included an education provider, a childcare facilities group and a property consulting group.
“The Barangaroo effect has firmly taken hold as corporate users are seeing this as a firmly established precinct and, if not moving into Barangaroo, are setting their sights on premium buildings within very close proximity,” added Mr Dickins.
201 Kent Street, which forms part of the Maritime Trade Towers Complex, is a 40,000sqm A-Grade building jointly owned by Investa Property Group.  It is strategically located within the CBD and the new Barangaroo precinct.
Rob Dickins advised Credit Corp Group have taken the whole of levels 15 &amp; 24 of 201 Kent Street. 
"Credit Corp Group’s current HQ are over four floors at 10 Barrack Street and this new move will amalgamate the Group over two whole floors with a brand new fit out.
The 3000 square metre lease was signed for an initial period of five years with a further five year option.
Although the rent has not been disclosed rents in 201 Kent Street have been in the order of $675 per square metre net.  
Mr Dickins said that demand for office space at 201 Kent Street had been significant. 
“As at November of last year there was circa 7,000 square metres of vacant space at 201 Kent Street and within less than six months we have leased all available space.”
In three separate leasing deals in May, Savills leased approximately 2,300 square metres of space at 201 Kent Street, tenants included an education provider, a childcare facilities group and a property consulting group.
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jchancellor-FAypfDUnLy

Barangaroo effect in Sydney office lease deals

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Bistro Maison has been sold by local chef Bernard McCarthy and his operations manager wife, Rachel.
The husband-and-wife restaurant couple have sold their business in Mt Eliza on Victoria’s Mornington Peninsula.
Colliers International’s Will Connolly secured the leasehold sale of Bistro Maison as the McCarthys look towards a new establishment on the peninsula.
It sold within a month of listing, with the leasehold purchased by local couple, Hans and Annette Went, who plan to transform the space into a traditional Italian restaurant.
The McCarthys had the bistro in the Mt Eliza Village for the past five years.
They are now focusing on their new venture in Balnarring, Barn &amp; Co, which will be a cellar door winery and friendly bistro. 
Will Connolly said there hospitality venues were changing hands quite rapidly on the Mornington Peninsula, with venues such as the Rye Diner and McCrae Pavilion also being sold recently,” he said.
“It’s no secret that people on the Mornington Peninsula are passionate about their food, and this is clearly demonstrated in the high standard of service and quality venues in this region are currently providing.”
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Bistro Maison, Mt Eliza sells through Colliers

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Everglory Energy, a subsidiary of Everglory China, has agreed terms on a three year lease at One Margaret Street, Sydney.
It was the last remaining suite available on level 17, according to Savills leasing agent Chris Rowe who brokered the deal.
The office space was let on a three year term at an average gross yearly rental of around $136,000.
DEXUS, the owners of One Margaret Street, had implemented a new suites strategy on level 17 of the building, creating seven small fitted suites, designed to suit occupiers from 150 to 210 square metres.
One Margaret Street is an 18 level A-Grade office tower located in the Western corridor of the Sydney CBD.  
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DEXUS secures Everglory Energy as One Margaret Street tenants

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The Bayside family has bought the Woollahra pub, The Light Brigade Hotel, for about $9 million.
It comes two months after they sold the Newport Arms to Justin Hemmes.
"When we sold the Newport Arms, we did so knowing that it would not only serve as a chapter in our family's history in the hotel industry closing, but equally, would serve as a precursor to the next chapter; a new chapter," hotelier Kaine Bayfield told the Australian Financial Review.
Ray White Hotels' Andrew Jolliffe and Joel Fisher brokered the deal on behalf of Haritos Hotels ending an eight-year association with the hotel.
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Light Brigade Hotel, Woollahra sold

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It would be fair to say I’ve lost count of the number of times people ask me about the secrets for a successful negotiation.
Once you know how to negotiate… this will provide you with your ultimate passport to success.
You see, the success of every negotiation is based upon these elements. However, you also need to master various strategies, tactics and nuances… in order to truly become a master negotiator.
But the good news is… all of these are teachable skills — which you’re able to quickly and easily learn, with little or no effort.
Naturally, over a career of 40+ years… you tend to see and use virtually every negotiating technique there is. And one by one, I have tested them and noted down those that work.
Agendas
Everyone going into a negotiation will have an agenda. But the mistake most people make is in assuming that your agenda is the same as theirs.
You know, in all my years as a negotiator… I’ve never seen two identical agendas. Sure, there may be a few common items — but they never appear in the same order of importance, on both agendas.
As such, the No. 1 item on their agenda may well be No. 7 on yours. And the secret lies in uncovering just how to determine that… which is one of the other 25 techniques.
Because, once you know what’s on their Agenda … you are then in a far stronger position to trade your “lesser” items, on the way to achieving your ultimate objective.
In fact, the biggest mistake you can ever make is to allow your negotiation to reach the point where price becomes the only item under discussion. From there on, one party has to lose… in order for the other to win.
As you will soon realise, there are only four outcomes for every negotiation …
 
<img src="/images/2015/06/24/Neg-Chart.png" alt="">
 
Therefore, your aim ought be to take control of the negotiation and steer it towards a win-win result. That way, it ensures the deal will ‘stick’ … while the documentation is being prepared.
CHRIS LANG is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can contact Chris <a href="https://commercialpropertymadeeasy.com/" target="_blank">here</a>.
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The secret lies in discovering a hidden agenda: Chris Lang

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GUEST OBSERVER
The NSW government handed down its first <a href="https://www.budget.nsw.gov.au/" target="_blank">budget</a> after the March state election, promising new infrastructure, jobs, housing developments and four more years of back-to-back budget surpluses.
The budget papers <a href="/news">said</a> the NSW government would deliver “an underlying $713 million surplus in 2015-16 and strong surpluses in each of the following three years.”
The budget sets aside $591 million for new schools, hospitals upgrades and light rail projects in Sydney, and $400 million to accelerate land release and housing development.
The transport infrastructure goodies are welcome, and targeted to support commercial and residential development in growth areas like the harbour side Barangaroo precinct and the North West.
Yet, with the booming housing market alone delivering in excess of $5 billion to the state’s revenue in 2014-15, big project spending is easy. Enacting reform that reduces the state’s reliance on property taxes is hard.
<h2>Missed opportunity for reform</h2>
Gladys Berejiklian’s first budget as NSW Treasurer misses an opportunity to make bold and much needed economic reform in a touchy area: stamp duty.
Killing off stamp duty would be a bold but ultimately good reform.
South Australian Premier Jay Weatherill has shown stamp duty reform is possible. The SA government has moved to abolish stamp duty on commercial property transactions by 2018. It will also immediately stop charging stamp duty on the non-property part of business transfers.
Scrapping stamp duty has subsequently been supported by the Property Council of Australia. But with federal grant money falling and stamp duty receipts growing as a proportion of budget revenue, the NSW government’s addiction to it will continue.
<h2>Bad news for prospective homeowners</h2>
The planned budget surpluses through to 2019 rely on the hot housing market persisting, with revenue from stamp duty forecast to continue to grow through to 2019. So, unfortunately for current and prospective homeowners in NSW, the budget’s increasing reliance on stamp duty revenue means the government has no interest in reform that will cut off this source of funds through lower property prices.
While there are budget measures that target increasing the total supply of property in NSW and particularly growth centres in and around Sydney, there will be little change to the “effective” supply of property without a reconsideration of property taxes.
Effective supply is the part of the market that is actually available for purchase. All else equal, restricting effective supply drives higher prices.
As a tax charged on every real estate transaction, stamp duty acts as a drag on the real estate market that lowers the effective supply. Notwithstanding the current bubble-like atmosphere, stamp duty discourages housing turnover, reducing the efficiency of the way property assets are distributed, as well as the broader economy by limiting labour force mobility.
Someone selling a house in Sydney at the median price would currently have to pay over $35,000 in stamp duty; enough to dissuade many homeowners looking to move from selling altogether - including those wishing to downsize - and penalising those who need to move, such as for work or because of divorce.
The government has offered an <a href="/news">increased commitment</a> to the Housing Acceleration Fund towards the provision of infrastructure and planning to facilitate housing development in target areas and plans for 664,000 new dwellings in greater metropolitan Sydney over next 15 years, but these measures alone will have little impact on prices.
Rethinking stamp duty
A key risk to the state’s forward budget now is the possibility that property prices and turnover go down. It’s hard to remember, but house prices can and do fall.
It would have been refreshing to see the NSW government demonstrate leadership by taking an innovative approach to property taxes that achieves a good outcome for those left behind in the current boom while the opportunity is available.
Rather than abolish stamp duty altogether, the government could consider a “stratified” reform that applies the duty differently depending on an individual’s existing housing investment. Remove it when the homeowner is selling one property to move to another. Apply it when the seller has multiple properties. Scale it to match the size of the property portfolio. Add a premium when the property is vacant. There are many possible permutations – determine the right balance and the revenue source is still there while the efficiency and accessibility of the market for those looking to enter it improves.
As an example, a tiered stamp duty system operates in Singapore. The Singaporean system charges an <a href="https://www.iras.gov.sg/IRASHome/Other-Taxes/Stamp-Duty-for-Property/Working-out-your-Stamp-Duty/Buying-or-Acquiring-Property/What-is-the-Duty-that-I-Need-to-Pay-as-a-Buyer-or-Transferee-of-Residential-Property/Additional-Buyer-s-Stamp-Duty--ABSD-/" target="_blank">Additional Buyers Stamp Duty</a> based on the residency status and number of properties owned by the buyer.
State and federal leaders are meeting at a July retreat hosted by Prime Minister Tony Abbott. Perhaps there, NSW Premier Mike Baird will learn from his South Australian counterpart that reforming stamp duty is not the end of the world.
Danika Wright is a finance lecturer at the University of Sydney. She can be contacted <a href="https://sydney.edu.au/business/staff/danikaw" target="_blank">here</a>.
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New infrastructure but a missed chance to fix stamp duty

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National house prices rose 1.6 per cent in the three months to March, the latest Australian Bureau of Statistics figures show.
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Sydney was streets ahead with home values up 3.1 per cent, the latest official figures show.
Canberra had the next strongest quarter-on-quarter growth, with values rising 1.1 per cent in the March quarter.
Prices rose 0.7 per cent in Adelaide, 0.6 per cent in Melbourne, 0.5 per cent in Hobart and 0.4 per cent in Brisbane.
They fell 0.1 per cent in Perth and 0.2 per cent in Darwin. 
Across the eight capital cities values rose 6.9 per cent, with Sydney jumping 13.1 per cent. 
APM senior economist Dr Andrew Wilson noted recent ABS data also reported increased activity by investors as a key driver of Sydney’s red-hot housing market. 
"Despite the distractions of Easter and ANZAC Day, $6.2bn in residential investor finance was approved over April in NSW – the third highest monthly total on record and just behind the record $6.3bn set over March. 
"The proportion of investor finance to total residential has however set a new record at 61.8 percent.
 
<div>"First home buyer lending activity in NSW however fell sharply over April for a market share of just 6.5 percent, the second lowest on record and well below the long-term average of 13.6 percent," Dr Wilson noted.</div>
 
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ABS confirms Sydney streets ahead of other capital cities in March quarter house price growth

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Last week we addressed some of the key issues facing younger homebuyers. This week, as promised, we’ve got some practical solutions.
Home buying and these suggested solutions are not for all young people (sub 45). But sitting on your backside, doing another tertiary course, or hoping a magical answer will come from your iPhone is also not the way for every young homebuyer either.
Yes, Australian society is presiding over a system that is unfair on you as young homebuyers.
Australian Society is taking away young people’s housing supply and increasing competitive demand through negative gearing, wealthy immigration and through paying no attention to regional infrastructure. Young people need to push forward a new batch of leaders with ‘we’ ideas instead of ‘me’ ideas and demand change. You need to get out on the streets and protest until you find leaders who can even up the ledger between older and younger Australians but the revolution may take 20 years and you as a young homebuyer can’t afford to wait forever to enter the property market.
Waiting for the market to ease never works.
No easing of the market will assist you to any noticeable degree. If you wait for any future government intervention to save you, your now 6-year-old child may be 26 before you can afford to buy. Your 16-year-old may be a 36-year-old.
You have to take action yourself. Wait for the market to change and you’ll pay the price. Please don’t confuse this statement with passing on buying the wrong home and then continuing to look for the right one in a patient, logical manner.
So our suggestion is don’t focus on the unfairness of negative gearing, super funds, Asian investing, well-off Baby Boomers and private family wealth. Focus on the fact that, this weekend, there are 300 people out there trying to buy the 30 good homes in inner to middle Melbourne on offer.
Yep 270 of those people are going to be unhappy – you need to be one of the winning 30 buyers this weekend or next weekend or later in the year.
So in Inner Melbourne right now; you as a young homebuyer are in a fight, like the wildebeest of Serengeti in a drought. There is limited grass and you need to avoid the predators (dodgy buying and selling agents, dodgy financial planners, dodgy brokers and dodgy advice which may come from well-intentioned people like your friends and relatives). Other predators are negative gearers, super funders and wealthy overseas migrants – not to mention your fellow young homebuyers.
Ok, all this negative and hard stuff is there, but don’t let it overwhelm you. Acknowledge it and move on. Many wildebeest see bad things, but the strong and the smart live on.
<a href="https://marketnews.com.au/2015/06/solutions-for-young-homebuyers/number-of-melbourne-homes-597x437/" rel="attachment wp-att-51096"><img class="aligncenter size-large wp-image-51096" src="https://marketnews.com.au/wp-content/uploads/number-of-melbourne-homes-597x437-597x437.jpg" alt="number-of-melbourne-homes-597x437" width="597" height="437"></a>
Our Bidderman statistics (bidders per auction) show that on good homes there are consistently 6 to 10 bidders per well-priced suburb median Inner Melbourne home above a million dollars. It’s the same or even more below $1M.
Not every young homebuyer can be a winner – there are simply not enough good quality Inner Melbourne homes to satisfy demand. This is the mindset I think, or I hope Joe Hockey was trying to espouse. It’s up to you.
So get the right mindset – it’s up to you or you’ll be living in Whoop Whoop West. And when you try and sell in Whoop Whoop West in 10 years, to be closer to schools, the prices in Inner Melbourne could be even more unattainable.
Get the right plan and then go after the right position, right home and right price. 
Get a deposit and get multiple funding sources – banks, relatives, tenants, partner and so on.
I’m not a great saver, more a forced one and I care little about superannuation – which may or may not be a wise move now I’m hitting the twilight years!
I’ve think I’ve worked hard (bought over 1000 homes), had good jobs, lived in secure housing near the city, travelled, raised some great kids, had good family support and a good life (lot more to come I hope). I’ve lived off good income, at times overdrafts, parental help in the early days and growth allowed by negative gearing in the latter days. Our family has been lucky, but we’ve also made our own luck. The one money thought that stands out for me: good capital growth and a good job has given us a good good life and covered over a lot of my life mistakes and money sins.
Saving is good for many and recommended, but my point is there is more than one way to skin a cat (isn’t that an awful saying) and to fund a home. Such as:
*Parents (1) – They are your best chance for help with a deposit and loan guarantees. But you may have to sell them on the idea of helping you as they’ll want to protect themselves as they get older as well. Tell them if they don’t want to drive a hour to see the grandkids then you will need help buying closer (ok, not next door but maybe only 15 minutes away) – pull on the heart strings and then pull on their purse strings.
*Parents (2) – Start hassling them to buy investment homes. They can make their retirement better by buying and renting back to you. These investments build wealth and income and you help each other. It’s the Greek/Italian, Chinese and Jewish way and it works. If you are worried about family arguments, get a written legal agreement, such as a formal lease.
<ul>
<li>* for both of the above, you can’t expect (well you can, but why should they) your parents to do it all. You have to help yourself; to save, maybe get a second job and yes, you may have to move further out (just not too far and good 3P’s), to buy your first home and live in it for 5 to 10 years.</li>
</ul>
Get a good job. Joe Hockey is right–please, I don’t barrack for any political party–unless Pendles or Clokey are running for PM. If you want to be a Buddhist, vegetarian, charity-giving monk then hats off to you; but in all likelihood you won’t be living with three kids in a Hawthorn semi-detached period home. Please I know this sounds harsh–but there is validity to Joe Hockey’s comment – get a job that pays. Sales, Real Estate, Marketing, Small Business...or get a second job, or do this plus ask your parents for help and maybe negatively gear. Do what it takes, and do it sooner rather than later, if buying a good home is an important goal of yours.
 Get creative. Buy the home you can’t afford to live in now by buying and negatively gearing now. Put a tenant in and live at home with Mum and Dad. Or buy a home and live in somebody else’s home while they rent your property. Make sure agreements meet tax laws, but negative gearing on a good capital growth home is such a powerful tool. You need it to beat overseas bidding and if you can get some growth in the next ten years before you can afford to move in, you will have put hundreds of thousands of dollars into your back pocket. And it’s legal and mostly tax free (if you’re smart about it). Yes, of course there are risks, but sometimes to get into the housing market you need to take some risks, even if there is no real safety net.
Get a plan and a process that works.
Price, property and position. These are the three ‘Ps’ you need to keep in mind when planning to buy a property.
Median Price for Precinct, Home with Land, House with a liveable floor plan and all in a position that is near infrastructure.
The knowing is not rocket science – the rocket science, in 2015, comes in the getting.
Have clarity on what you want. Is a particular property really the home for you?
List the financial and emotional outcomes you want from your home under the price, property and position headings. At the end your PPP plan, as a starting point, shouldn’t be more complicated than three sentences. It’s simple but many people don’t work out what they want before buying – they don’t have a plan.
However, avoid plans from financial planners, bankers and seminars – if they involve high risk deals such as off the plans and new apartments – these do not work for young homebuyers.
Remember the FFFs too – five-year, flexible and future-proof. In 2000, a young buyer bought a Docklands apartment for $507,500. They sold it in 2014 for $576,000. At the same time another young buyer spent $493,000 on a family home in Glen Iris. They sold it in 2014 for $1.5 million. <a href="https://www.james.net.au/jba_mhbguide_20_web.pdf"> </a>
Once you have your plan, assess, value and negotiate – eg follow a proven process.
But, just as they don’t plan, many people don’t stick to a process either. And many people can’t negotiate.
Get a professional
My next piece of advice is the advice I would give you if you were having an operation, going to court or starting a business and that is to get a professional. The facts prove themselves. A good professional property advisor will help you.<a href="https://marketnews.com.au/documents/May_Results.xlsx.pdf"> </a>
People think you simply buy a house by sticking your hand up at auction. But only 25%-30% of the properties we bought in May were bought under the hammer. 70-75% weren’t. They were negotiations.
People baulk at paying a 1% fee for an advocate’s services, but while you wait and wait to buy a home, the market goes up. In the past few months some house prices have gone up 10-20% and many buyers are:
<ol>
<li>still not in a home </li>
<li>having to find 10% to 20% more</li>
</ol>
This is all because they felt they couldn’t afford good professional help – when indeed it would have paid for itself 10 or 20 times over in the last few months and perhaps 100 times over a 7 year period. Include it in your bank loan.
Buyer advocates are widely – and wisely – used in Europe and the US.  But most Australians think they can buy a home by themselves because that’s what Mum and Dad did. That was a different time and a different market. It might have worked in 1985 but, for many, it doesn’t work in 2015. You either don’t buy, or you end up buying a home nobody else wants at a price that nobody else was prepared to pay for it.
This week I met Hard Luck Harry and his wife, Hard Luck Harriet. They’ve bid 5 times on homes in the last two years and felt nothing was going right. I made one suggestion – when nothing is going right – go left. Try something different. Hire an experienced, reputable buyer advocate / buying agent.
Yes, we mainly buy properties in the $2m to $6m bracket, but most of the issues are similar for young homebuyers. Most of our clients have affordability issues. Almost everybody we work with has a limited budget, too.
Make good decisions and take action.
Good decisions. It’s all about the decisions you make. Isn’t all of life like that? If you decide not to make a plan, not to get some professional help, not to work hard and not to do your research they are your decisions – and they are bad decisions if you want to buy a good home.
This is what a James Report contains. You need to build your own excel databases to be able to do something like this.
<ol>
<li>Ask questions of your plan</li>
<li>Assess the property (due diligence)</li>
<li>Work through values, not just what the agent says</li>
<li>Get a negotiation strategy that works</li>
</ol>
<a href="https://marketnews.com.au/documents/James_Report_2015.pdf"> </a>
<a href="https://marketnews.com.au/documents/James_Report_2015.pdf" rel="attachment wp-att-51099"><img class="aligncenter size-large wp-image-51099" src="https://marketnews.com.au/wp-content/uploads/JamesReportResults-379x448-379x448.jpg" alt="JamesReportResults-379x448" width="379" height="448"></a>
Finally, I’ll leave you with home-buying wisdom from the Melbourne Homebuyers Guide:
1. Happy spouse, happy house.
2. History repeats itself unless you break the cycle by breaking your habits.
3. Good decisions and bad decisions take the same amount of time and angst – only the quality of the prep is different. Get those 3P’s (price, property type and most importantly position) spot on.
4. Time heals or hides nothing in Melbourne property, it only accentuates.
5. No definition of value maintains its rigour for all people, except value to you; and
6. In negotiation, the closer you get and the more you talk about money, the further you drift from getting what you want.
 and my new No 7. Get the right mindset – its up to you.
Mal writes weekly auction reports, advice and in-depth market analysis on <a href="https://www.jamesbuyeradvocates.com.au/" target="_blank">James' website</a>.
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High risk new apartments should be avoided by young homebuyers: Mal James

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Commentary on the affordability issue has become so twisted that media is quoting Sydney’s median house price as a relevant topic.
We recently had the Australian Financial Review, which should know better, writing about the level of income needed by a first-home buyer to afford the median Sydney dwelling, as well as the median-priced dwelling in the other capital cities.
My question is: how is this in any way relevant to the issue of affordability?
First-home buyers don’t buy at the median price, not in Sydney, nor in Melbourne, nor anywhere else in Australia. First-home buyers buy below the median, indeed well below it. Always have done – and, I dare say, always will.
The median price for dwellings in the major cities at the moment are $750,000 in Sydney, $570,000 in Melbourne, $465,000 in Brisbane and $510,000 in Perth. According to CoreLogic RP Data, the median across the eight state and territory capital cities is $570,000.
But the average first-home-buyer loan at present is $334,800, according to the latest figures from the Australian Bureau of Statistics. Assuming the typical first-timer has a 10% deposit, this means the median dwelling price for a first-home buyer is around $370,000.
Given that 25% of all residential sales are being made to first-time buyers, there’s are a lot of novice buyers out there acquiring properties at the lower end of the market. In the past year, around 120,000 Australians have made a first-time purchase.
Those numbers are relevant to the discussion. The median price in our most expensive city is not.
The Real Estate Institute of Western Australia published some numbers this week that also have some relevance to the topic. Good to see those people putting out material that’s actually useful to a sensible debate, unlike some of their recent talk-down-the-market nonsense.
REIWA president David Airey said, quite rightly, that it was important not to use the median price as the guide for the costs of getting into the market for first-home buyers and others.
Airey said the median was the middle point in the market and that half of all sales were under it. This means buyers don’t need to be able to afford the median-priced dwelling to enter the market.
I think it’s sad that anyone needs to make this point, which is so obvious it should be a given in the debate. But the media coverage of the issue has become so irrational that industry people have to go back to kindergarten levels to try inject some balance.
“It’s also important to recognise that first-home buyers, in particular, usually purchase homes well under the median price, with Office of State Revenue data for May showing the median point for entry-level buyers being $450,000 in Perth and $366,000 in the WA regions,” Airey said.
“Even the median purchase price for first-home buyers means that half of all entry-level buyers are paying under these city and country median prices for their demographic.”
Airey said it was more useful for first-home buyers to look at the lower quartile, or bottom 25%, of the more affordable homes in an area to get a better perspective of what was available at more accessible prices.
REIWA data for the year to March shows that the south-east sub-region of Perth through Gosnells, Armadale and Serpentine-Jarrahdale had the most affordable lower quartile, with  houses selling around $370,000. 
Apartments and land were most affordable in the south-west sub-region through Cockburn, Kwinana and Rockingham.
Airey said even within the various sub-regions around Perth there were individual suburbs which were under the lower quartile for their local area.
“For example, the central sub-region has a lower quartile of $550,000, but it’s possible to find houses in Balga priced at around $385,000.
“Similarly, while the median price for units in the south-west sub-region is $277,000, you can find them in Orelia at around $196,000.”
Airey said that buyers should not be put off by the median price for a region or suburb, and look to the lower quartile for opportunities in areas they might initially think are out of their price range based on the overall median.
So true, so bleeding obvious and so sad that anyone needs to stand up and say it. 
 
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
Terry was recently joined by Property Observer editor at large Jonathan Chancellor for a webinar on why research is the key to successful property investing in 2015. You can download slides and audio from the webinar here.
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Just stand up and say it: Terry Ryder

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South Australia is moving to abolish stamp duty on commercial property sales over the next the three years.
Treasurer Tom Koutsantonis said he was deliberately seeking to stimulate the business sector in the state with the highest unemployment in the nation. 
The scrapping of stamp duty on the 6,000 commercial and industrial property transfers that happen annually in South Australia will cost the government about $389 million over the three years from July 1, 2016. 
The first stage is a one-third cut in stamp duty in mid-2016. 
The Weatherill government has thrown down an unexpected tax reform challenge to other states as it phases out stamp duty on commercial property transactions.
It does not apply to farms.
By 2018-19, the state will have stripped a $48,830 duty from a $1 million South Australian commercial deal.
It will save $543,830 after a $10 million acquisition or a $2,589,915 million cost on a $10 million transaction.
</div>
<div class="cq-article-content-media section">But stamp duty expert, Joanne Seve, told the Australian Financial Review other mainland states were unlikely to follow as the cost of abolishing stamp duty on non-residential, non-primary production commercial property transfers would be at a much greater cost and likely require a replacement source of revenue.</div>
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