Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

Joel Robinson

The Maybelle brings 27-storey parkside tower to market near North Strathfield

Melbourne developer <a href="https://www.apartments.com.au/developers/pdg-corporation">PDG</a> has unveiled its vision for the former Water Tank Site in Ivanhoe, which would see it transformed into a thriving residential neighbourhood, complete with a 2000 sqm public park.&nbsp;

Delivered in partnership with <a href="https://www.apartments.com.au/developers/development-victoria">Development Victoria</a>, the proposal would transform the prominent corner of Bell Street and Upper Heidelberg Road into a connected community comprising two residential buildings, generous public open space and shared amenities.&nbsp;

The vision includes 287 one, two and three-bedroom apartments, with a minimum of 10 per cent allocated to affordable housing, alongside a 2,000-square-metre publicly accessible park featuring a children's playground, activity lawn, indigenous planting, timber climbing logs, seating areas and a rock gathering circle.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>, the proposal draws on the site's industrial heritage, using a robust architectural language that references the former water tank through expressive structural elements and durable, self-finished materials.&nbsp;

Extensive landscaping has been woven throughout the development, creating a living landscape that strengthens connections to nature while responding sensitively to the surrounding neighbourhood. Two residential buildings ranging from three to 12 storeys are linked by a landscaped forecourt, creating a welcoming arrival experience and improving pedestrian connections through the site.&nbsp;

Residents would also enjoy more than 1,000 square metres of communal open space, including barbecue and dining facilities, vegetable gardens, landscaped seating pavilions and a dedicated coworking space.&nbsp;

PDG Founder and Managing Director Vince Giuliano said the vision reflected an opportunity to transform one of Ivanhoe's most recognisable sites into a place that balanced housing, community and landscape.&nbsp;

"This is an opportunity to reimagine an important site and create a neighbourhood that delivers lasting benefits for Ivanhoe," Giuliano said.&nbsp;

"We're creating much more than new homes. The vision brings together affordable housing, quality architecture, meaningful public open space and shared places that encourage people to connect, while respecting the site's history and its place within the local community."&nbsp;

Development Victoria’s Executive General Manager Precincts, Niall Cunningham, said the application is an important step for the government-owned site.&nbsp;

“This is about delivering more homes in a well-connected location, along with public open space that the Ivanhoe community will benefit from for years to come,” Cunningham said.&nbsp;

PDG was selected as development partner in late 2025 following a competitive tender process.&nbsp;

A planning submission for the project is currently being progressed through the Victorian Government's Development Facilitation Program, with positive early engagement from both Banyule Council and the Department of Transport and Planning.

PDG unveils plans to transform landmark Ivanhoe Water Tank Site

Shane Wilkinson's <a href="https://www.apartments.com.au/developers/pace-development-group">Pace Development Group</a> has lodged plans for a major residential precinct on the former Presentation College site in Windsor, with an eight-building masterplan ultimately rising to 10 storeys.

The proposal at <a href="https://www.apartments.com.au/new-apartments/167-dandenong-road-windsor-vic-3181">167–187 Dandenong Road</a> spans a substantial 19,027 sqm site and is being progressed across six stages, with the first residential stages comprising 170 homes across four buildings designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>.

Stage Two will deliver the bulk of the initial housing, with Building A comprising 81 apartments and Building B 49 apartments, both rising to six storeys.

Stage Three will deliver a further 40 homes. The heritage Nagel Building, identified as Building C, will be converted to 12 dwellings, while a new five-storey Building D will comprise 28 apartments at the Hornby Street and Dandenong Road corner.

The 170 homes across Stages Two and Three will include a mix of one, two and three-bedroom apartments, including townhouse-style dwellings.<img alt="First look: Pace plans landscaped housing precinct on former Windsor school site" data-entity-type="file" data-entity-uuid="83c56e3e-dfb9-4e12-b172-c3f18513ec32" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_9.png?VersionId=xRcRpSZsxX.UX_NDDGcRZktw7HVrzx7u" />

&nbsp;

The longer-term masterplan points to considerably greater density across the site.

Indicative plans show Building E accommodating around 80 dwellings across up to 10 storeys, while Building F is earmarked for around 120 dwellings and also up to 10 storeys. Building G is planned to range between four and 10 storeys, however its apartment yield is yet to be determined. That means the masterplan currently identifies at least 370 dwellings across Buildings A to F before any apartments within Building G are counted.

Across the 1.9-hectare site, that represents an indicative density of at least 194 dwellings per hectare, with the final figure to increase once the yield of Building G is established.

Pace is pursuing the project through the Victorian Government's Development Facilitation Program, with Urbis lodging a combined Section 96A planning scheme amendment and planning application on behalf of the developer, which secured the site earlier this year.

The application seeks detailed approval for Stages One, Two and Three, alongside approval of the broader masterplan framework that will guide the later residential stages. Stage One will see an existing heritage building adaptively reused for a wellness and fitness-related facility, while the broader precinct will retain several significant heritage buildings and established trees as part of the redevelopment.

A minimum 10 per cent affordable housing contribution is proposed across both the initial residential stages and the later masterplan stages, delivered through a discounted rental model.

The project comes immediately after a major change to the site's planning controls.

The site was rezoned to the Housing Choice and Transport Zone through Planning Scheme Amendment GC285, gazetted on July 22, 2026, and now sits within the inner catchment of the Windsor Station precinct under the State Government's Train and Tram Zone Activity Centres Program.

While the new controls identify large sites within the inner catchment for buildings of up to six storeys, Pace's masterplan pushes height to 10 storeys in parts of the site, with the taller buildings concentrated toward the centre and along the Sandringham railway corridor.

Lower-scale built form is proposed toward the site's more sensitive residential and heritage edges, with Buildings A and B generally stepping from three storeys at their interfaces to six storeys at upper levels.

Cera Stribley's masterplan breaks the development into a collection of separate buildings rather than a continuous built form, with landscaped spaces, new pedestrian links and a new publicly accessible road forming part of the precinct.

The planning report says the development will create new pedestrian connections to Elm Place and along the railway corridor, as well as a new publicly accessible road linking Elm Place with Dandenong Road. The proposed buildings will occupy around 54 per cent of the site, leaving a substantial portion available for landscaping, communal areas and permeable surfaces.

Urbis said the scale of the project reflected the site's strategic location close to Windsor Station, tram services and the Chapel Street Activity Centre, with the former school campus identified as a significant opportunity to increase housing supply on an underutilised inner-Melbourne site.

&nbsp;

First look: Pace plans landscaped housing precinct on former Windsor school site

<a href="https://www.apartments.com.au/developers/jl-place">JL PLACE</a>'s Veil Brighton is approaching its final months of construction, with the nine-townhouse development at 17 Rooding Street expected to complete in December 2026.

The milestone is bringing the boutique project closer to becoming a finished part of the <a href="https://www.apartments.com.au/developments/brighton-vic-3186">Brighton</a> streetscape, with much of Brighton's everyday amenity within a short walk.

Palace Cinema, Coles Supermarket and North Brighton Station are all around five minutes on foot from <a href="https://www.apartments.com.au/new-townhouses/veil-brighton-17-rooding-street-brighton-vic-3186">Veil</a>, alongside numerous cafés, restaurants and bars. The station provides a direct rail connection toward Melbourne's CBD, while Bay Street and the wider Brighton retail and dining network add to the range of services accessible without relying on a car for every trip.

"The location was fundamental to the project. Brighton is an established suburb where many buyers already have strong connections to the area and want to remain close to the people, places and amenities that form part of their everyday life," the developer said.

"Veil sits in a highly walkable part of Brighton, with a Walk Score of 90/100."

For buyers looking to right-size within Bayside, that level of walkability adds to the appeal of a more manageable way of living. Everyday shopping, dining, entertainment and public transport can be accessed without relying on the car for every trip, while residents remain connected to the places and routines that make Brighton familiar. It allows buyers to simplify day-to-day life without giving up the convenience, amenity and connections they already value.

[smartcode_project:default project_id=7877 project_image_fid=355754]

As completion approaches, the architecture, landscaping and material palette are progressively becoming visible on site, giving prospective purchasers a clearer view of the finished development beyond its plans and renders.

Veil comprises nine townhouses, predominantly three-bedroom homes with between 2.5 and 3.5 bathrooms, two car spaces and, depending on the residence, study areas and private outdoor space. Selected homes include a bedroom on the ground floor.

Veil occupies a middle ground between detached housing and apartment living, retaining private gardens, storage and secure parking within a more manageable residential format.

<a href="https://www.apartments.com.au/architects/schmidt-pang-architects">Schmidt &amp; Pang</a> designed the architecture around natural light, ventilation, privacy and practical use of space. From Rooding Street, the façade has been composed to read as a cohesive residential building rather than nine individual townhouses, with landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a> integrated throughout the site.

Inside, natural stone, oak flooring, integrated joinery and brushed nickel finishes establish a restrained material palette, while kitchens include Miele appliances and substantial storage such as pantries. Walk-in robes and dedicated study spaces have also been incorporated across the collection.

[smartcode_project:default project_id=7877 project_image_fid=355852]

The project team said the planning of the homes has been informed by how the spaces function for both daily routines and larger gatherings.

"Our new homes owners at Veil have enjoyed the attention to detail in creating efficient layouts that use every space well. Hosting Christmas lunch and large family gatherings is an ease when care is taken to consider how people really live and entertain."

Private landscaped gardens extend the living spaces outdoors, while secure basement parking and bicycle parking are provided below. The homes have also been designed to achieve a 7-star energy rating, supported by double glazing, high-quality insulation, natural ventilation, LED lighting, water tanks and water-efficient fittings. Each residence is backed by a 10-year building guarantee.

Veil is being built by <a href="https://www.apartments.com.au/builders/jeniton">Jeniton</a>.&nbsp;Limited-time stamp duty savings are also currently available on selected purchases at Veil, adding another consideration as the project moves toward completion.

[smartcode_project_cta:default project_id=7877]

Veil Brighton nears completion in one of the suburb's most walkable pockets

<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a> has recorded 134 sales worth just over $400 million in two months of pre-release activity at The Riversdale, as the developer brings its $750 million South Brisbane riverfront project to the broader market.

The sales represent more than 60 per cent of the project's 213 apartments, with Mosaic reporting the majority of purchasers have been local owner-occupiers and downsizers.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale</a> will rise 39 storeys from its north-facing site at 91 Montague Road, delivering a mix of two, three and four-bedroom apartments alongside a collection of Mosaic's premium Masterpiece Series Sky Homes.

[smartcode_project:default project_id=151614 project_image_fid=371872]

The early buyer response comes ahead of the wider evolution of the northern end of Montague Road, where The Riversdale will be one of the first major residential projects delivered within an emerging riverfront precinct.

Directly adjoining the development is a planned 7.1-hectare mixed-use precinct, set to introduce new residences, parkland and public realm along the river's edge. The Riversdale's position directly on the Brisbane River gives it a relationship with the waterfront that Mosaic says cannot be replicated by future buildings within the precinct.

The site is also the result of a years-long pursuit by Mosaic. The developer first earmarked the <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a> property in 2018, reflecting what Founder and Managing Director Brook Monahan has described as a deliberately patient approach to acquiring development sites.

[smartcode_project:default project_id=151614 project_image_fid=372083]

"We aren't opportunistic," Monahan previously told Apartments.com.au.

"Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau Proberts</a>, The Riversdale has been shaped around the qualities of the riverfront site, with apartments oriented to capture northern light and uninterrupted Brisbane River views.

Generous floorplans and expansive balconies extend the living spaces towards the river, while natural materials and a restrained interior palette have been selected with longevity in mind.

[smartcode_project:default project_id=151614 project_image_fid=371890]

Residents will have access to a level of amenity more commonly associated with world-class hotels and private members' clubs, with almost 3,000 sqm dedicated to wellness, connection, recreation and everyday convenience.

At ground level is a business lounge, private meeting rooms and dedicated workspaces. Mid-tower is a wellness sanctuary featuring magnesium hot and cold plunge pools, sauna, steam room, infrared therapy facilities, a Pilates and yoga studio, and a commercial-grade gymnasium.

Crowning The Riversdale is a rooftop featuring a 35-metre swimming pool with lap lane and spa, outdoor dining and seating terraces, firepit lounges and views of the city, river and Mount Coot-tha.

A private members' club-inspired retreat offers private dining rooms, a whisky lounge, media rooms and immersive entertainment experiences. Completing the amenity offering are two hotel-style guest suites and a resident-exclusive electric vehicle fleet and car-share program.

[smartcode_project:default project_id=151614 project_image_fid=371877]

The Riversdale sits at the northern end of Montague Road between South Bank and West End, around 1.3 kilometres from the Brisbane CBD, providing access to the city's major cultural, dining and recreation precincts.

It becomes Mosaic's largest Brisbane project to date and adds to a pipeline already under construction across the city.

In Brisbane, the developer is currently delivering The Bedford and The Carter at Kangaroo Point, both of which are approaching sell-out, with a further four projects being delivered on the Gold Coast. Mosaic has completed more than $2 billion in projects since 2012 and has a further development pipeline exceeding $2 billion across South East Queensland.

Early works are underway at The Riversdale, which will be delivered by Mosaic's in-house construction division. Completion is anticipated in late 2029, with remaining apartments priced from $1.98 million.

[smartcode_project_cta:default project_id=151614]

Mosaic records more than $400m in two months at South Brisbane's The Riversdale

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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I just love my job and sometimes it feels like the universe is aligning with me.
This seemed to happen the other day when I was delivered an awesome development site right into the palms of my hands.
Not only did no one else know about this land but I'd been focussed on securing a site in this very location for some time. It's a great suburb on the east side of Maitland, one of the large cities of the Hunter that we develop in. This city has experienced the highest population growth of any inland city of New South Wales and is earmarked for more growth with a new major hospital and $350 million upgrade to the local shopping centre in the pipeline to name just two of the infrastructure upgrades happening in this location.
Today, I thought I'd share how we 'attract' a development site.  For those not too sure about the Law of Attraction, I have to admit that whilst it's nice to be all 'spiritual' around this, it is actually the result of years of hard work setting up contacts and developing almost 100 properties over the past 12 years.  But I'm happy to credit the universe too.
So here's what happened: The phone rings, it's one of my builders, let's call him 'Bob'.
"Jo, I've just heard about a good dual occupancy site coming up" Bob tells me. My ears prick, "Fabulous, tell me more please" and Bob my wonderful builder went on to share the location and address. He'd recently constructed a duplex in the same street and so he knew it well. He'd had a chat with the owner and they mentioned they were thinking of selling and explained which agent they were going to list with. 
This land is over 1,000 square metres and will nicely fit two freestanding, three bedroom, two bathroom homes with double garages. We will subdivide by way of Torrens tile.  There will be good yard space and being able to build freestanding dwellings with Torrens title and double garaging will add more to the end values.
As we talk, I jot down the agent's name and ask more details about the project he recently completed. "What were the build costs?" I asked Bob. Once I knew these, I added in a margin for the additional costs to build freestanding and upgrades that we generally add to our developments.
Before I had said goodbye and hung up the phone, I had a good idea of what this dual occupancy project would cost and the amount of equity we were likely to create. I'd been tracking sales in this location and knew of two very recent comparable sales that would support the estimated end values.
I rang the agent and he gave me more details on the land and promised to email me the contract so I could check the sewer diagram, survey, 88B Instrument, planning certificate and make more enquiries.
I pulled the land up on one of my online platforms that shows me high resolution imaging of the land - much better than Google Earth and more recent satellite images. What's more I can add labels such as lot and deposited plan (DP) numbers to the images and include the lot boundaries so I can get an idea of the shape and estimate boundaries (which helps when there is no survey of the land available).  These tools we happily share with our clients so they can also learn and take advantage of what we've set up.
After viewing the land from outer space and my computer, I will now go and physically inspect it. I'll get an idea of the fall on the land and drainage pits and services available. I can measure the boundaries and get an idea of where I will position the dwellings on the lot. I'll drive around and see the type of housing already built in the area and the community facilities and public transport available and in close proximity. All this will help me determine the rental returns and again confirm estimated end values. I'll check the recently sold properties that we will base our estimates on.
All this information will be delivered to our client who has already signed up with us. Our job is to present every development site we locate and our client has a choice of projects. These are presented in a detailed report and analysis on the development project. If they like what they see, and after getting clearance from their accountant and lender, we will move to make an offer on the land before it even hits the open market next week. 
I can't wait to walk all over this site and take a million photos and while I'm there I'll let the universe - and my builder - know just how much we appreciate them.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

How to attract a great development site: Jo Chivers

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An AFL footballer syndicate has listed the Waterside Hotel on Flinders Street with $15 million hopes.
The syndicate includes former Richmond players Wayne Campbell, Stuart Wigney and Brendon Gale (who is also the club's current CEO).
Wigney was its general manager after its 2004 purchase.
The freehold at 508 Flinders Street, on the corner with King Street, will be sold with a two to three year leaseback to the pub's operators.
There is no confirming paperwork with 508 Flinders Pty Ltd, but Nathan Brown and St Kilda captain Nick Riewoldt are reportedly other members of the syndicate that owns the three-storey brick pub with two bars.
They purchased the 1850s hotel for $3.85 million in 2004.
It has been listed by CBRE, Fairfax Media advised.
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jchancellor-FAypfDUnLy

Waterside Hotel listed by AFL players syndicate

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GUEST OBSERVATION
Conventional real estate wisdom says you should always sell your home first then buy. The wisdom follows that you need to know exactly what price you will achieve for your home to be able to set your budget for the next home.
This has been our advice in the past to ensure that clients don’t get caught out having two mortgages or require bridging finance during the changeover period in selling houses.
However, in the current Sydney property market, convention does not apply. The market is exceptionally strong and finding a suitable buyer at a solid price is almost assured. 
Sydney’s auction clearance rate on the weekend was 83% from 677 auctions, according to CoreLogic RP Data, and the clearance rate has been running at above 80% since the market re-ignited in February.   
There are frequent reports of properties going well over the reserve price at auctions in Sydney and we have witnessed many sales going above a reasonable price as two or more bidders battle it out.  With continuing low interest rates and Sydney’s chronic undersupply situation, there is nothing to suggest that the market will slow down anytime soon.
Buying a property first is a strategy that only works in a hot market.  It will give you certainty about your next address and will also help motivate you to get out there and find something suitable. As for selling your existing place, you can have confidence that there are plenty of other frustrated buyers out there looking for a home.  
The latest figures show that it takes just 29 days to sell a house in Sydney and 26 days for apartments. Compare this with Melbourne at 43 days for houses and 61 days for apartments (or Darwin with 106 days for houses and 117 days for apartments).
Which leads us to the next question: What happens if you just stay out of the market for now and wait till the buying frenzy subsides? 
Many buyers are no doubt questioning what will happen to prices in the future and wistfully hoping prices will drop at some point.  Over the past 25 years, research by Residex has shown that Sydney’s median house price has increased from $175,000 to $911,500 which represents an average rate of growth of almost 7% per annum.
Sydney tends to have very strong spurts of growth followed by slow growth or flat line pricing.  Even massive external shocks like the global financial crisis only put a small dent in Sydney’s long term upward trajectory – prices retracted just 5% then recovered significantly in subsequent years.
The frustration of Sydney home buyers is widespread.  A quality home in the inner and middle rings of Sydney may attract 50 to 100 groups inspecting and 10 to 15 registered bidders on auction day.  Yet just one of them will walk away smiling, while the others feel despondent wondering if they will ever find a property. 
The hassle of organising your solicitor to review the contract, getting pest and building inspections completed in time and arranging finance all goes to waste each time you miss out.  Then, you may well come up against other frustrated buyers on the next property.
Buyers are getting “buyer fatigue” having to inspect so many properties that end up out of reach. It’s tough out there!  Here’s my perspective on the range of emotions that buyers are feeling at the moment: it can be a roller coaster ride.
We are also seeing some buyers having to re-think their original plan.  If you have been out of the market for over a year, you may be very surprised to see just how much prices have moved.  Buyers and sellers are having to re-calibrate their expectations on pricing.  If you had your heart set on a specific suburb close to the kids’ schools and walk to shops, you may have to compromise now as the market has jumped (or find those extra dollars).
Our team of buyers agents have recently helped a number of clients find their next home and navigate this hot Sydney property market.  The common thread in their feedback was that they would not have been able to find the number of properties we shortlisted, work out fair value and then exchange with speed without our help.
The message is clear; Don’t be afraid to enter the market, do your research and be cautious about what you buy and how much you pay.  Many people are forward paying capital growth now just to get a foothold.  Think about the long term value of the property and who will buy it after you.
Rich Harvey is founder and managing director of <a href="https://www.propertybuyer.com.au/" target="_blank">www.propertybuyer.com.au</a>.
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rharvey-JMQneTqnM9

In this Sydney market you need to rethink your strategy: Rich Harvey

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Property industry pay increased at an annual 3% median - slightly above the ABS figure of 2.7% annual increase for the general workforce, and the annual CPI rise of 1.7%, according to the latest report by Rita Avdiev, managing director of the Avdiev Group.
The latest Avdiev Remuneration Report 2015, the product of a formal Australia wide survey of property, investment and construction employer companies, finds that business conditions have remained stable or improved for the majority of survey respondents.
But for companies which operate Australia wide, conditions vary from state to state, with the east coast reported to be doing better than elsewhere.
“Business conditions in the property industry will continue to fluctuate and possibly deteriorate the longer the country remains on hold” said Avdiev.
"While the new state governments continue to review the committed decisions of their predecessors, new projects are languishing on drawing boards and in boardrooms.
“The results of two recent state elections have introduced a note of caution and uncertainty into the previous positive sentiment in the majority of property and construction companies.
"A return of the current NSW government at the upcoming election may see a rapid influx of investment and new projects into the state.
“Many contributors to the Avdiev Report are affected by the hesitation of their clients to proceed with decisions which they made in 2014.”
She said forecasts for next pay reviews are 3% overall, but may be tempered by fluctuating business conditions.
Junior staff who are in a rapid career development phase are flexing their muscle, getting bigger rises than the seniors from companies pushing for new skills and staff renewal. 
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State government elections unsettling property companies: Rita Avdiev 

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Co-working spaces are growing rapidly and are feeding the demand for flexible and collaborative working environments, according to a report examining “liberated” work in Australia.
The white paper, which was released by Third Spaces Group, found three quarters of co-working participants considered a shared hub to be important to their overall success.
In addition, the vast majority of respondents felt their professional networks and overall efficiency at work was improved thanks to being part of a co-working space.
Brad Krauskopf, founder and chief executive of Third Spaces Group, says the workplace is evolving and organisations should be taking notice.
“We’re seeing this shift towards the user being able to make the decisions about where they work, how they work and with whom they work,” he says.
“We will rely on co-working spaces to be the spaces in between and rely on our home offices to be another space. We certainly don’t see that the head office goes away… if anything, it’s important that the head office is a communication hub and sets the culture of the company. But we’ll definitely see that a co-working space becomes part of the property piece.”
Krauskopf says startups are naturally leading the charge when it comes to embracing co-working spaces.
“Culturally, we still like line-of-sight management and there is actually a shortage of management experience around how to manage a distributed workforce,” he says.
“The truly disrupted nature of working has been talked about for a couple of decades now except it is only in the last few years with the emergence of the cloud and fast internet that it’s actually possible. To think that we were suddenly going to develop the management expertise overnight was simply never going to happen… it’s going to take time.”
Murray Hurps, the general manager of Fishburners, said there has been “an explosion” of co-working spaces in Australia.
“Co-working by itself is good but having focused co-working is I think potentially more impactful,” he says.
“If you have for example a fin tech hub and you are going to focus on attracting fin tech startups and share your network and experience… you can create so much value just by having that critical mass.”
The major thing standing in the way of co-working spaces, according to Hurps, is high property prices and crippling rent.
“To continue expanding at the rate we are – which is one thousand square metres every few months – is just impossible at Sydney prices,” he says.
“But that’s a problem every company in Sydney has. If there’s one thing that could really improve it, I would say there’s a lot of residential development going on in Sydney and there’s an opportunity for councils… to approve more space for co-working spaces. The spaces that are being allocated at the moment just aren’t enough for the demand we have at Fishburners personally.”
This article first appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartUpSmart</a>.
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Co-working spaces are taking hold in Australia but rent a major stumbling block

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Buoyant residential property markets helped Australia’s stock exchange-listed home builders deliver strong interim results in the first half of the financial year, February’s reporting season revealed.
The largest listed residential developer, Stockland Property Group, reported a 73% improvement in its home building business in the first half of 2015, which lifted group profit by 55.1% to $462 million.
Stockland chief executive Mark Steinert said the residential business was bolstered by improved market conditions and strategies the company had put in place to increase speed to market and broaden its customer target markets.
Improving market conditions and higher production levels also helped AV Jennings increase its profit. The company reported $11.9 million net profit after tax, up 42.1% compared with the same period in 2014. Chief executive Peter Summers said residential markets in Sydney, Brisbane and Melbourne were stable to strong, while South Australia’s market was more subdued.
Mirvac chief executive Susan Lloyd-Hurwitz forecast continuing growth in residential property prices with Sydney in particular supported by an “entrenched undersupply” of homes. Mirvac, which like Stockland develops and invests in both residential and commercial property, reported a 13.4% increase in profit to $279 million, with operating profit after tax rising by 15.5% to $231.2 million compared with the half to December 2013.
Analysts at Morningstar said that while surging residential prices and volumes have driven earnings for residential developers, they believe the sub-sector is operating close to peak profitability.
“The significant improvement in mortgage affordability has driven a spike in household approvals. Part of this increase will alleviate pent-up demand in some markets (mainly Sydney) but we believe a material part of the increase reflects the “bringing forward” of dwelling purchase decisions,” the analysts noted.
“The issue for developers is any rise in interest rates, which doesn’t appear likely in the near term, will result in a double hit to margins because of lower volumes and softer prices. As in past down cycles, the developers who add to their land banks late in the cycle are most at risk.”
Other listed residential developers including Peet and Villa World also boosted profits, while Cedar Woods forecast record performance for its full year despite a weaker first half.
Villa World reported a $13 million first-half profit, up from $7.6 million in the prior corresponding period and predicted its full-year before-tax profit would hit $28.5 million.
Peet Group reported a first-half profit of $13.2 million, 30% higher than the same period of 2014. Chief executive Brendan Gore forecast continued improvement in the second half.
“The Australian housing market fundamentals remain positive with a sustained period of record low interest rates, low inflation rate and continued population growth,” Gore said in a statement to the ASX. “However, the factors putting pressure on official cash rates – weaker jobs market, slow wages growth, and lower commodity prices – are also having some impact on consumer and business confidence, particularly in Western Australia.”
Another Western Australian developer, Cedar Woods Properties, reported a $9.1 million first-half profit, 55.8% lower than in the previous first-half, but it also issued profit guidance for the full-year of $41 million, which would be a record for the company.
Cedar Woods said strong pre-sales and a solid delivery program would help it achieve its forecast result, assuming markets remained sound.
Finbar, which is also based in Western Australia, reported a worse result than in the first half of 2014. Managing director Darren Pateman said the $11 million first-half profit was due to project completion timing not working in the company’s favour but said it was still expecting a solid full financial year with the completion of other projects anticipated in the second half.
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Buoyant market helps residential REITs deliver strong February results

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The Continental Hotel at Sorrento has been listed for sale by the Di Pietro family with $15 million expectations.
The four storey limestone building sits on a 3,580 square metre holding. 
<a href="https://www.continentalhotel.com.au/History.htm" target="_blank">The "Conti"</a> stands tall at its hillside 1-21 Ocean Beach Road position.
The hotel will be sold with freehold and business with offers due 16 April through Sothebys International agent Rob Curtain, in conjunction with CBRE.
The pioneer thespian and entrepreneur George Coppin built the mansard-capped hotel in the 1870s. The seaside spruiker shipped wealthy Melburnians to the Mornington Peninsula on his paddle steamers, and then put them on his tramway to stay at his Hotel Continental.
In 1890 the hotel was bought by Isaac Edward Bensilum for £6,000, the original cost of the hotel being £14,000.  
Bensilum who ran the hotel with his wife Nellie, built The Athenaeum in 1894.  
Owners and Licensees:
<table style="width: 460px; height: 247px;" border="4" cellspacing="0" cellpadding="10" align="center"><tbody>
<tr>
<td bgcolor="#ffffff">
1875 – 1890 
</td>
<td bgcolor="#ffffff">
George Coppin – licensee John Crawford 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1890 – 1913 
</td>
<td bgcolor="#ffffff">
Isaac Edward Bensilum 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1913 – 1921 
</td>
<td bgcolor="#ffffff">
T E Hawkins 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1921 – 1923 
</td>
<td bgcolor="#ffffff">
L Fitzgerald 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1923 – 1953 
</td>
<td bgcolor="#ffffff">
L De Vine 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1953 – 1960? 
</td>
<td bgcolor="#ffffff">
N &amp; G Fernhead 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1960 - 1990 
</td>
<td bgcolor="#ffffff">
tbc 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1996 - current 
</td>
<td bgcolor="#ffffff">
 Di Pietro Family
</td>
</tr>
</tbody></table>
Source: The Continental Hotel
It was on the toss of a coin - a choice between Australia and America - that Coppin sailed from Sussex on the Templar, arriving in Sydney in 1843 with his partner, Maria Watkins Burroughs, where he was to perform at the Royal Victoria Theatre on Pitt Street.
Coppin briefly owned the Clown Hotel, directly opposite the theatre, which failed as Sydney's first permanent musical entertainment venue, before he moved south.
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Sorrento's Continental Hotel for sale

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A crowd of more than 150 people were drawn to Melbourne CBD’s when local and offshore bidders competed for a Chinatown retail property.
With a $4 million opening bid, it was sold to a local investor for $5.01 million on a tight 3.87% yield through Clinton Baxter and Nick Peden of Savills.
The 30 minute auction saw 95 registered bids after more than 220 pre-auction enquiries. 
The 166 Russell Street property sold well in excess of price expectations. The vendors, Lai Meng Wong, Mui Chun Cheew and Kok Leong Lee, through Australiawide Melbourne Pty Ltd paid $1,927,000 in mid-2008. It sold at $237,500 in 1986. 
Located on a 136 square metre site, the four level, 295 square metre, retail building was sold with a five year lease to long standing tenant, Cats Hair and Beauty, at a net annual rental of $194,182. 
Clint Baxter said the tight yield set a new benchmark for CBD retail properties.
Investors were now fully prepared to accept below 4% yields for prime retail assets, he said.
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Savills Melbourne Chinatown retail auction affirms sub 4% yields

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A Lakemba development sold at auction last weekend at $1.86 million.
The 15-17 Quigg Street offering was zoned R4 high density residential.
<a href="https://www.propertyobserver.com.au/https://www.homely.com.au/lakemba-canterbury-sydney-greater-new-south-wales/listingdetails/893187" target="_blank">The block size was 976 square metres,</a> suitable for unit development, according to selling agents, Knapton &amp; Co.
Lakemba is 12 k milometres to the Sydney CBD.
Last year a 1024 square metre potential development site zoned R4 High Density Residential, with very large four bedroom full brick home, was sold at 23 Quigg Street North for $1,925,000.
At 78 Quigg Street South, a 1,144 square metre site remains for sale at $1.25 million<a href="https://www.richardmatthews.com.au/buying/NSW/Canterburyorbankstown/Lakemba/House/1P0576" target="_blank"> through Richard Matthews Real Estate</a>.
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Lakemba unit development site sells at $1.86 million

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Research analyst PIR is advising clients to sell their holdings of Australian real estate investment trusts after prices for the companies rallied and many in the sector performed well in the latest reporting season.
Listed Australian property companies <a href="/expert-insights/investing/reits-deliver-strong-results-in-february-reporting-season">delivered strong results in the latest reporting season</a>. The S&amp;P/ASX 200 A-REIT index, which tracks stocks in the sector, gained 30% over the year to the end of February compared with a rise of 10% for the broader S&amp;P/ASX 200 index.
“The A-REIT sector has rallied hard, and the listed market is pricing in strong earnings growth, strong NTA [net tangible asset] growth, or (the simplest and most probable explanation, given the rally in other “yield” stocks such as banks) very low interest rates,” PIR analysts noted.
“The risk is that the market may rotate out of yield stocks, prompting a sell-off in REITs. Take profits now and re-enter at a better level,” they advised.
REITs are considered to be yield stocks because they typically pay stable streams dividends to shareholders from rent collected on properties.
Charter Hall Retail REIT, which reported its half-year results on 19 February, paid out 13.7 cents per share on earnings of 14.87 cents a share for the first half. It forecast it would achieve full-year operating earnings per share of 29.6 to 30 cents, of which 90% to 95% would be paid to investors.
PIR recommended clients reduce their holdings of Charter Hall Retail REIT, commenting that at $4.53 at the time of the report, the stock was “getting pricey”.
Other analysts have different views on the stock and the REIT sector more generally. According to opinions tracked on Yahoo Finance, one analyst says sell Charter Hall Retail REIT and seven expect it to underperform but four recommend holding.
Commentators, including Atchison Consultants analyst Ming Niu, <a href="/expert-insights/investing/will-areits-remain-attractive-once-interest-rates-start-to-rise-ming-niu">believes REITs will continue their strong performance</a>, perhaps with marginal price falls. 
PIR analysts are also recommending clients reduce their holdings of Arena REIT, which invests in social infrastructure sectors such as childcare, healthcare, education and government tenanted facilities. Arena said in its half-year results that it would deliver distributions of 10 cents per share for the full financial year.
PIR’s recommendation stands apart from other analysts’ assessments with two of those whose opinions are listed on Yahoo Finance saying hold and one saying buy.
Folkestone Education Trust is another stock PIR is recommending clients reduce. The company trades on a forecast price earnings ratio of above 17 times, against a P/E ratio of 15.7 times for the wider sector. The analysts noted the stock is trading at a premium of about 30% to its NTA and its distribution per share yield is about 6%.
“The listed market is pricing in strong earnings growth, strong NTA growth and yield compression, or – more likely, given the rally in other “yield” stocks such as banks – very low interest rates,” the analysts noted.
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