<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]

Joel Robinson

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

Lender, fund manager and apartment developer Princeton has completed <a href="https://www.apartments.com.au/buildings/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, the first new apartment development in South Sydney to provide its owners with a 10-year Latent Defects Insurance policy, the most comprehensive insurance available for a new apartment building.

The policy has been a key consideration for prospective purchasers of the 58 one-, two-, and three-bedroom apartments, strategically located between&nbsp;Rockdale Plaza and Rockdale Station.&nbsp;

Buyers have also been drawn to the fact that it is one of few new apartment developments delivered in the suburb in the last 10 years, and the only one located on Princes Highway to be set well back from the street to reduce noise. There's also a communal rooftop, a rarity in the suburb, complete barbecue facilities, landscaped seating areas, a children's play zone and herb gardens.

[smartcode_project:default project_id=136442 project_image_fid=374084]

Ray White Projects’ Matt Otway said buyer enquiry reflected the increasingly diverse and cosmopolitan population that has made Rockdale home.

“We’re seeing strong interest from a broad mix of buyers, including young professionals and people who have rented in Rockdale and the surrounding suburbs and now see Marque as an opportunity to buy a brand-new apartment in an area they already know,” Otway said.

“Proximity to the CBD and Sydney Airport is another key advantage particularly for buyers working in these locations who want the added convenience of living close by.”

Investors have also been attracted to the project, with rental yields of more than five per cent, which is considered a strong result for the Sydney market.

[smartcode_project:default project_id=136442 project_image_fid=374090]

Adding another layer to the buyer proposition is Marque's 10-year Latent Defects Insurance policy from Resilience Insurance, making it the only new apartment development in Rockdale to offer the cover.

The policy protects apartment owners against major structural and waterproofing defects for 10 years following completion, giving Marque purchasers cover until early 2036 at no additional cost.

The likelihood of defects emerging has also been mitigated through the Technical Inspection Service (TIS), which saw independent experts inspect the building at various stages throughout construction to identify potential issues during the build, rather than after the fact.

SDSS, which provided the TIS, consistently ranked the construction quality at Marque, undertaken by iCIRT-rated builder Coplex, among the best across its extensive portfolio of projects.

[smartcode_project:default project_id=136442 project_image_fid=374088]

Otway said the LDI had become a major drawcard for buyers, particularly given Rockdale has seen relatively little new apartment development over the past decade.

"Rockdale hasn't had a lot of new apartment buildings in the last decade, and has never had a project with 10-year defect insurance," Otway said.

"Marque presents a truly rare opportunity at an affordable price point, so well connected to the Sydney CBD."

One-bedroom apartments at Marque start from $735,000.

[smartcode_project_cta:default project_id=136442]

Marque Rockdale completes as South Sydney’s first apartments backed by 10-year defect insurance

Sydney developer <a href="https://www.apartments.com.au/developers/odus">ODUS Property Group</a> is continuing to expand its local Gold Coast development pipeline, filing plans for a new 40-storey tower in the Southport CBD.

Odus, which bought two luxury Main Beach projects, now La Mer and Le Reve, to make its move into the booming Gold Coast apartment market, has secured its third site. But it is tweaking the plans for a previously proposed 50-storey skyscraper, now seeking to deliver 40 storeys.

The project, dubbed <a href="https://www.apartments.com.au/new-apartments/80-marine-parade-74-80-marine-parade-southport-qld-4215">80 Marine Parade</a>, sits on a prime&nbsp;2,032 sqm amalgamated corner site at 74–80 Marine Parade and 4 Welch Street, across the road from the Gold Coast Aquatic Centre. It will have unobstructed, never-to-be-built-out views to the east given its position opposite the Broadbwater Parklands.&nbsp;

The plans are for 316 apartments, ground-floor retail, and resort-style resident amenities. The project sits within Precinct 1 (Central Business District) of the Southport Priority Development Area, where high-density residential and commercial development is actively encouraged.

BGD, ran by Bayden Goddard and the architecture firm behind Le Reve, has revised the original concept plans, substantially reworking the built form. Basement parking has been replaced by an expanded podium designed to improve functionality while reducing the tower's overall visual impact.&nbsp;&nbsp;

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0f13d065-2cf5-45ec-aa17-1a03754d93d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%202.png?VersionId=.9QS2n7kBc_U3PyaI247uOyNSXIqnXSE" />

The tower rises above the eight-storey landscaped podium with a distinctive architectural language defined by sweeping arches, integrated greenery, bronze-toned glazing, and a sculptural rooftop crown.

The development will comprise 104 one-bedroom apartments, 208 two-bedroom apartments, and four four-bedroom penthouses across levels 9 to 36. Apartments are designed to accommodate both permanent residents and short-term accommodation within the same building.

A double-height lobby and reception will anchor the ground floor alongside a 23 sqm food and drink outlet, activating the Marine Parade frontage.

Parking will be accommodated within the podium, providing 288 vehicle spaces and 74 bicycle spaces, accessed from Welch Street.

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="d7528b91-2c47-4094-98b3-5eecbacc0041" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%20podium.png?VersionId=efF5oWs4T9PDvxJwJEDHu5kSQ5eE3IBy" />

Residents will have access to an extensive suite of amenities spread across multiple levels. A podium recreation deck will include a swimming pool, spas, sauna, steam room, cinema, residents' lounge and children's games room, while a second wellness level near the top of the building will feature a gym, co-working spaces, reading room, dining areas and communal kitchen. Extensive podium landscaping wraps the building to soften the built form and strengthen its interface with the surrounding streetscape.

The planning report notes the project responds directly to Southport's ongoing urban transformation.

"Consistent with much of Southport, the surrounding area is undergoing significant transition, with many older low-rise developments progressively being redeveloped for higher-intensity urban outcomes, as envisaged within Precinct 1."

It also states that the proposal "will contribute to a defined and legible eastern gateway to the Southport CBD, reinforcing the area's high-density urban character while maintaining a strong visual connection to the adjoining public open space network."

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0b9fdebd-4b35-400b-a287-6bd1cdbcdb1b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da.png?VersionId=4LG35XR5mfir7jvG2TShtQx.utMLYBxu" />

Located opposite the Broadwater Parklands, the site enjoys immediate access to the Gold Coast Aquatic Centre, Australia Fair Shopping Centre, TAFE Queensland Southport campus, the G:link light rail corridor and Southport's established commercial precinct. The location places future residents within one of the Gold Coast's fastest-evolving mixed-use centres, where numerous high-rise residential projects are reshaping the CBD skyline.

Odus is headed by development professionals Byron Sakha, Jarrod Younan and Sebastian Younan. The Younans also head family-owned builder Nazero Constructions, established in the 1960s.

They are currently delivering La Mer, 24 luxury apartments on Main Beach Parade, and Le&nbsp;Rêve, on the same street but on the prized beachfront side of the sought-after strip.

ODUS plans landmark 40-storey tower for Southport's Broadwater gateway

A boutique collection of just 10 residences could become the catalyst for the next phase of renewal along the southern end of Surfers Paradise Boulevard, with new plans laid for a mixed-use tower designed to transform a long-vacant site.

The proposal for <a href="https://www.apartments.com.au/new-apartments/3098-surfers-paradise-boulevard-surfers-paradise-qld-4217">3098 Surfers Paradise Boulevard</a> has been conceived as more than a standalone residential project. Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the development aims to spark the revitalisation of what the design team describes as the "South Boulevard" precinct, creating an active streetscape with retail uses at ground level beneath a collection of full-floor luxury residences.

The application, by PR Property Holdings, an entity directed by the Brisbane-based Ryan and Petrovic families, seeks approval for a 17-storey, 62.2-metre mixed-use development on a compact 427 sqm site between Surfers Paradise Boulevard and Appel Street.

The project will comprise just 10 apartments, including eight full-floor residences and two duplex apartments, positioned above a two-level retail podium. Three podium parking levels will accommodate 26 vehicle spaces, while a recreation deck is proposed on Level 4.

<img alt="First look: PR Property Holdings plans boutique apartment tower to kickstart Surfers Paradise's 'South Boulevard' revival" data-entity-type="file" data-entity-uuid="46cfa37d-5051-4449-8d8e-6724f8ca0d59" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_8.png?VersionId=e7UkeV1eTZAC2lXhdq72E3jpUbwiFD2t" />

Rather than pursuing apartment volume, the proposal focuses on large-format homes with a slender tower form intended to maximise outlooks while limiting visual bulk.

BDA Architecture said the proposal has been designed to become an urban renewal catalyst for the precinct.

"The ambition of 3098 Surfer's Paradise is that it provides the catalyst for incremental infill redevelopment and upgrade of what is coined the 'South Boulevarde' of Surfers Paradise which connects to the beating heart of Cavill Avenue."

The architects added: "An incremental approach to development that provides quality ground plane interface, human scale design, integrated subtropical landscape and semipublic permeable frontage can over time entirely upgrade a precinct."

The architecture adopts soft curves, articulated balconies and a slender tower profile rising from a human-scaled podium. The design report describes the project as delivering "bespoke residences of enduring distinction, sculpted with precision and quiet sophistication," with a focus on timeless coastal architecture.

The application also includes retail tenancies addressing Surfers Paradise Boulevard, reinforcing the site's role as an active mixed-use destination rather than a purely residential address. The planning report states the combination of the podium, landscaping and active frontage is intended to strengthen the pedestrian experience while contributing to the evolving character of the boulevard.

The site occupies a prominent position in the southern section of Surfers Paradise, directly opposite the G:link light rail corridor and within walking distance of Surfers Paradise Beach, Cavill Avenue, the Nerang River and Bruce Bishop Car Park. It is currently vacant, having previously accommodated a single-storey commercial building that was demolished in 2022. The planning report notes the surrounding area is characterised by a mix of commercial buildings and residential towers, with unlimited building height provisions applying under the Centre Zone.

The proposal also replaces an earlier 2022 approval for a restaurant and bar on the site, instead introducing a permanent mixed-use development that combines retail activation with boutique residential living.

Boutique apartment tower to "kickstart" Surfers Paradise's 'South Boulevard' revival

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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A harbourfront residential development site in Neutral Bay has been sold for $6.6 million.
Phillip Wolanksi's <a href="https://www.realcommercial.com.au/property-land+development-nsw-neutral+bay-501186087" target="_blank" style="line-height: 1.3em;">Wolcar Pty Ltd sold its 813 square metre site at 117 Kurraba Road</a>.
It sold after auction to the Norfolk Group through Sam Brewer and Aaron Hatch from JLL in conjunction with Tim Abbott and Richard Harding from LJ Hooker Mosman.
The site had approval for four apartments. 
With 20 metres harbour frontage, it has an existing block of six strata title apartments which were consolidated around 2008-2009.
 
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jchancellor-FAypfDUnLy

Neutral Bay harbourfront site sold at $6.6 million

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With all the attention on Chinese Melbourne CBD development site acquisitions, one of the low-key Melbourne CBD sales this year has been the office block, 50 Queen Street.
Last sold in 2007 at $31 million, it has been sold at $40.7 million by Centuria Property Funds Limited.
Coweley Queen Pty Ltd, a subsidiary of the foreign based company Coweley Limited, purchased the property.
Coweley Limited is directed by Sydney locals, Klaus Knoblauch and Craig Stuckey, in conjunction with the Roquebrune Cap Martin, France based, but Paddington, Sydney born director Peter Ranger and the Switzerland based Massimo Pedrazzini.
The property was part of the Becton Office Fund No. 2 which Centuria took over in September 2010, at which time the property valuation was $26.5 million.
The off market sale price was 25% in excess of the latest 31 December 2013 independent valuation.
Its 2007 sale was marketed as a 16-level, 34 year old B-grade building.
The building, at the corner of Flinders Lane, is about 9650 square metres and is occupied by several small tenancies.
Set at the corner of Flinders Lane, it was offloaded in 2007 by Singaporean investor George Chow, who paid $13.4 million in October 1991.
Back in the late 1980s when on the books of the Capita Prime Property Fund (formerly the City Mutual Property Trust), the office block had a $22 million valuation.
Centuria Property Funds latest sale was an office tower in St Kilda Road to the ­property arm of the Dymocks group for $82.1 million.
Centuria acquired 441 St Kilda Road in 2012 for $58 million on a single investor mandate.
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50 Queen Street, Melbourne office tower sold

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A self-managed superannuation fund has paid $1.4 million for St Kilda Indian restaurant premises.
It reflected a 5.3% yield given the property, at <a href="https://www.realcommercial.com.au/property-retail-vic-st+kilda-501218879" target="_blank">194-196 Barkly Street</a>, is leased for five years with one five-year option, at $77,070 a year.
The property is 90 square metres. 
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St Kilda restaurant premises sells to SMSF at 5.3% yield

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The historic Vue Grand hotel in Queenscliff remains listed through James Gladman of Fletchers .
It is tipped to attract interest <a href="https://fletchers.net.au/2123813/46-hesse-street-queenscliff" target="_blank">between $4 million to $4.5 million</a>, a price range unaltered over the past four years. 
The 32-guest bedroom property was built in 1881.
The hotel, with conference rooms and a rooftop bar, captures views to the Sorrento ferry.
The 1950-square-metre Hesse Street block could continue as a boutique hotel but it is also being marketed for its residential development potential.
There is planning permit in place for a four-level extension on the current manager's residence site, providing additional accommodation, a day spa, further conference facilities, a lounge and bar.
 
 
 
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Vue Grand Queenscliff still offered with residential potential

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Former Cronulla Sharks chairman and rugby league player Glenn Coleman has pocketed millions on his Canterbury development site.
Coleman sold the <a href="https://www.raywhite.com/nsw/canterbury/1163374/" target="_blank">Broughton Street property</a> for $7.5 million having bought it from State Rail for $140,000 in 1992, with added further to the site the following year, paying $265,000. It was sold to a local developer, Buildform.
A 1,405 square metre parcel has development approval from Canterbury Council for a seven-level residential apartment building. The site is adjacent to Canterbury railway station in Sydney’s south-west.
It sold through Marcello Bo and Peter Apostolou from Ray White Project Di by auction at the rooms at AuctionWORKS in the Sydney CBD, in conjunction with Ray White  Commercial NSW Managing Director Jeff Moxham. 
 
David Scholes, founder and principal of auctionWORKS, was presented with the top prize at the Real Estate Institute of NSW’s annual awards for excellence, this month.
 
David Scholes received the Woodrow Weight Award for outstanding service to the industry.
 
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andreadixon-oif3j7eKne

Canterbury development site sold 

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Guest observation
As we go about our lives, it's easy to get caught up in everyday expenses without thinking about future finances.
Retirement is supposed to be about living the life you want, but that means having enough money to do the things you love.
According to the 2012–2013 Australian Bureau of Statistics, only 4.5% of people who retired from the labour force have a total gross weekly household income of $2,000 or more.
The 2014 Budget outlined Federal Government plans to lift the retirement age to 70 by the year 2035, and Treasurer Joe Hockey has started the conversation about lifting the superannuation preservation age to match.
The impact of this means you will have more time for your investments to grow and less time to spend the results. But consider, too, you may need to stop work earlier than you intend.
So while the rules around retirement may change, one certainty is that tomorrow's retirees will need a plan that includes super, supplemented by passive income from other investment.
For the purpose of this article all examples will be based on a retirement age of 65 and rounded to the nearest $1,000.
Out of Sync
Improvements in aged care and diet, along with medical advances mean the majority of people today will live longer than generations that went before them. As a result, our retirement expectations are out of sync with our retirement savings, and most of us aren't saving enough to pursue our retirement dreams.
Our idea of what is 'comfortable' is likely to be slightly more than the Association of Superannuation Fund Australia's definition at AU$41,169 a year for singles or $56,317 for couples.
The consensus is that 60% to 65% of your pre-retirement household income should be your retirement income target. Therefore, if you earn a household income of around $160,000 per annum pre-retirement, an annual retirement income goal of $2,000 per week or $104,000 p.a. would be a more appropriate target to maintain your standard of living.
How Much Do You Need?
If you want to earn $104,000 p.a. in retirement, you will need to be mortgage-free and have AU$2,600,000 (in today's dollars) in investments (based on a 4 per cent return). With inflation at 3 per cent, in 15 years' time this equates to an annual income of $162,000 from a $4,051,000 portfolio.
<img src="/images/2014/10/7/Picture%208.png" alt="">
Based on 4% p.a. investment return, 3% p.a. inflation. Figures rounded up to the nearest thousand.
Meet Tony and Judy Jones
Tony and Judy represent an average professional Australian couple whose goal is to retire in 15 years at age 65. They currently have an annual income of $160,000 and also have $155,000 in superannuation savings. Tony and Judy want to travel around the world and visit relatives overseas.
They also want to be able to pay for their daughter's wedding and access the right medical care and retirement accommodation when needed.
In 15 years Tony and Judy's superannuation savings will grow to $533,000 from their regular contributions and returns from funds invested. Despite this growth they still have a retirement shortfall of $3,518,000, if they want to achieve those financial and lifestyle goals. That means they'll need to save $235,000 every year for the next 15 years.
It's a frightening figure. But there is a smarter way for Tony and Judy to close the gap.
Plan Earlier and Smarter
Most Australians like Tony and Judy struggle to reach what they need to achieve a comfortable retirement because they don't have a plan in place. Typically, like Tony and Judy, their savings are accumulation-based. With this approach it's unlikely they'll reach their goals by retirement age. The alternative way is to earn money from assets.
There are many investment products available with the most common being direct shares, high interest savings accounts, extra super contributions, term deposits, self-managed super funds and managed investments.
This article continues on the next page. Please click below.
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Investing in Property
Property growth is another investment that can help you build wealth.
<img src="/images/2014/10/7/Picture%2010.png" alt="">
Source: Residex June 2012
With such a sustained growth, you'd think more Australians would invest in property, but according to the Australian Taxation Office,5 only 1.7 million Australians are recorded as having an interest in a rental property. Of those, the majority (72 per cent) have an interest in only one rental property.
If we go back to Tony and Judy's case, for example, we have established they need to save $235,000 a year for each of the next 15 years. Structuring the purchase of four rental properties into their investment plan would be one way for them to reach this goal.
<img src="/images/2014/10/7/Picture%2012.png" alt="">
All figures rounded to the nearest $1,000.
If property is to be included in your investment portfolio, you may consider enlisting the expertise of a professional who specialises in property investment.
Where to From Here?
If you decide to invest in property, take some time to consider your overall retirement goals and timeframes and be sure to work with a reputable company that can assist you in building an investment portfolio.
The right consultant will consider your current situation and goals, calculate your borrowing capacity, then provide a plan with a clear strategy to achieve your desired outcome, making sure your decisions are informed, and not based on emotion.
Michael Fuller is a Property Consultant at <a href="https://www.dpn.com.au" target="_blank">Direct Property Network </a>(DPN).
 
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Earn $100K or more in retirement: informed planning needed

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The Reserve Bank of Australia (RBA) touches on some interesting points in its latest Financial Stability Review, including the paradox of low interest rates.
Household debt-to-income ratios have been flat for the past eight years, but the RBA quite rightly senses a risk that low rates could see this figure busting out to new highs and looks on cautiously.
<img src="/images/2014/10/7/RBA1.jpg" alt="">
The paradox is that low interest rates have made life pretty easy going for existing owners of property on variable rate mortgages, with the interest payments-to-income ratio falling from 13% to just 9%
Mortgage buffers
The RBA notes that aggregate mortgage buffers are at remarkably high levels, the equivalent of "more than two years" of scheduled repayments. A big reason for this, as I've experienced myself, is that banks have frequently left mortgage repayment amounts on auto-pilot despite declining mortgage rates:
"Households' ability to service their debt has been aided by ongoing low interest rates. The proportion of disposable income required to meet interest payments on household debt has stabilised accordingly, at around 9%.
"Households continue to take advantage of lower interest rates to pay down their mortgages more quickly than required. The aggregate mortgage buffer – balances in mortgage offset and redraw facilities – has risen to be around 15% of outstanding balances, which is equivalent to more than two years of scheduled repayments at current interest rates.
"Prepayment rates and the proportion of borrowers ahead of schedule on their mortgage repayments are also high according to liaison with banks. Part of this prepayment behaviour has been due to some banks' systems not automatically changing customer repayment amounts as interest rates have declined, while in many cases households have not actively sought to reduce their repayments.
"This might be a sign that household stress is currently limited. The household saving ratio, although trending down a little lately, remains high at just under 10%. Households' aggregate balance sheet position has continued to improve in recent quarters: real net worth per household is estimated to have increased by 4% over the year to September 2014."
Rental market
With dwelling prices rising we might expect to see rental vacancies increasing and yields declining. Historically speaking, however, Sydney's vacancy rate remains low despite pockets of forthcoming oversupply. RBA again:
"Despite the activity and housing price inflation in the Sydney and Melbourne property markets, rental yields have not declined to a significant extent and vacancy rates in these cities remain fairly low."
<img src="/images/2014/10/7/RBA3.jpg" alt="">
True, but vacancy rates are elevated and likely to rise in inner city Melbourne apartments as the RBA observes.
Household financial stress?
Generally 90 day+ loan arrears at now at very low levels at only 0.5 percent, but there are some indicators of household financial stress in Victoria. Back to the RBA:
"Aggregate indicators suggest that household financial stress is generally low, despite the increase in the unemployment rate over the past year. The share of banks' housing loans that are non-performing has declined for both owner-occupiers and investors since reaching a peak in the middle of 2011.
"Data on securitised housing loans show that the share that are 90  days or more past due has declined over the year for most states, coinciding with lower interest rates and rising housing prices. In Victoria, however, loan performance has deteriorated slightly."
<img src="/images/2014/10/7/RBA2.jpg" alt="">
The RBA notes instances of mortgage stress and arrears in "outer west and north Melbourne".
Interest rate rises?
So it's largely happy days for homeowners at present. But what about interest rate increases?
Previously we have covered off the possibility here that interest rates might yet fall further as the mining construction boom tails off.
So, what could lead to hikes? Mostly we'll be looking at inflation and the jobs market.
The TD-MI inflation gauge printed flat again for the month, leaving this particular measure sliding towards the bottom of the 2-3% range (now at just 2.2%) and suggesting little in the way of inflationary pressures or a pressing need to hike interest rates.
The declining Aussie dollar could well wash through a little more tradables inflation in due course, but sustained inflationary pressure would likely need the labour market to pick up, since there currently appears to be a fair amount of slack therein.
<img src="/images/2014/10/7/4br-tradeinf-small.gif" alt="">
Some heartening news on that front today with ANZ job adverts recording its fourth consecutive monthly gain to hit its best reading in two years.
Could this suggest that the labour market is picking up as was suggested here by last month's figures? Maybe! The next round of Labour Force figures on the 9th of this month is very eagerly anticipated for all of the above reasons.
In any case, interest rates will be very much stuck on hold today at 2.50%. It seems likely that prudent households will have at least another year of low rates ahead to keep building up those mortgage buffers.
 
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Reserve Bank muses on housing stress

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The contrasting house prices across the country have seen a two-speed housing market emerging, according to ANZ Research’s David Cannington.
On the one hand, Sydney has seen house prices continue to grow strongly over the past week. Other capital cities reported tentative increases.
Sydney, Melbourne, Brisbane and Perth’s prices all rose slightly, while Adelaide eased.
Meanwhile, prices were noted to be increasing in trend terms in Sydney, Adelaide and Perth, while an easing was noted in Melbourne and Brisbane.
“Looking ahead, steady consumer confidence and moderation in auction clearance rates in recent weeks foreshadow some modest easing in home buyer demand and likely more moderate home price gains in Sydney and Melbourne in particular,” noted Cannington.
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We’re in a two-speed housing market: ANZ

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A bit of Bavaria in Blacktown sold at weekend auction for $570,000.
When Manfred and Franziska Hiller built their family home 50 years ago, they created a Bavarian-style property unique to the Blacktown area.
The couple purchased the block at 25 Berg Street, Blacktown in the 1960s and Manfred built <a href="https://www.realestateview.com.au/Real-Estate/25-berg-street-blacktown/Property-Details-buy-residential-7611814" target="_blank">the three bedroom home</a> himself, keeping true to their German culture.
“This home isn’t typical of the properties you find in the area,” selling agent, Andrew Sparks of Ray White St Martins said who had been quoting price expectations above $520,000.
“Inside has a true Bavarian feel to it and the garage has been converted to a man cave, complete with its own bar," he said.
The couple are moving into a local retirement village.
With low listing numbers due to the distractions of the long weekend holiday break, APM reported an 83% clearance rate result that took to eight the number of weekend results above 80% recorded by the Sydney market.  
 
Around 253 homes were listed to go under the hammer last Saturday which was well below the record September Saturday of 722 auctions conducted the previous weekend but similar to the 248 conducted over the same holiday weekend last year
 
Sydney’s four-weekend average clearance rate now stands at 83% compared to 82.5% over the previous four-weekend period.
 
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Bit of Bavaria sells in Blacktown

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If one was looking for a single word that is missing from the ongoing property debate, look no further than 'perspective'.
Some are looking at the property market from a perspective that has lead them to a conclusion which is totally and completely wrong.
Investors have got it completely right given (in the case of Sydney) we are suffering from a chronic undersupply which explains why the vacancy rate in a 10 kilometre radius from the CBD has sat below 2% for the best part of a decade.
Never before have we seen a better time to convene an inquiry into the Australian real estate markets because nobody has an accurate perspective as to what is actually happening. Earlier this year I was one of the first to write that something was not right with the influx of overseas buyers.
This brought about an inquiry (that is still going) although it has exposed the Australian Foreign Investment Board (FIRB) to be in total disarray.
Last week, Federal MP Kelly O'Dwyer told ABC Lateline:
"What we've found out though, through the evidence that our committee has received, is that these rules have simply not been enforced through prosecution since 2006 by the FIRB. I think there has been a failure of leadership of the FIRB on this. I think they have dropped the ball. I think if we have rules in place, those rules need to be properly enforced. That is the only way we can give confidence to the Australian people that our foreign investment framework's working as it should. So we would be looking to tighten up exactly what occurs in terms of enforcement penalties that can be applied, but also to make sure that FIRB is doing its job."
Well it's very clear that FIRB have not been doing their job, so in the meantime Ms O'Dwyer should be introducing a temporary ban on all overseas purchases until such time that the government can fully determine how big this matter is.
In my opinion there is no better person qualified to chair the inquiry than Bill Moss who is a former Macquarie Group banker and head of property. Speaking to The Weekend Australian, he said:
"This is the first (property) cycle we've seen where there's a deregulated global market,where capital is free to flow from Asia to Australia. We have a free floating dollar, equity makers are global and now our residential markets are going the same way."
The major concern in Australia is that nobody knows just how many properties have been acquired given nobody has a perspective as to the exact number.
Although, negative gearing presents a much bigger problem in the Australian property markets than overseas investors.
Another person who must be appointed to an inquiry is Saul Eslake, who this week called on Canberra to put an end to negative gearing for new investors as the best way to dampen frothy property markets in Sydney and Melbourne.
It should be noted that he referred to them as 'frothy' not a 'bubble'. He accepts that it is not politically feasible to abolish negative gearing because around 15%of voters are currently taking advantage of negative gearing – which explains why no politician should participate in the inquiry given they have vested interests.
Australian investors are smart and can sense a change to the property tax landscape in Australia, which I pointed out last week.
It is important to note the recommended measures are nothing more than temporary until such time that the government can get a correct perspective on the Australian property markets.
Bill Moss went on to say in his interview that our housing markets were better tackled at a state or local government level, with the federal government or the Reserve Bank of Australia's (RBA) macro prudential tools such as restricting how much banks can lend to investors. "Rather than react to what's happening, what the government needs to do is understand what is going to happen."
The interview keeps getting better, when he commented that "governments should look how to make money from a real estate bubble."
In my opinion, overseas buyers should be paying a much higher Stamp Duty and a Vacancy Tax for all properties where the owners decide to landbank by locking them up. All these taxes should be flowing into new infrastructure strategies.
The problem is that governments have neither perspective nor understanding about real estate machinations. So they need to establish an inquiry to better understand what exactly is going on as against merely flying from the seats of their pants.
 
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