High-profile apartment defect cases have changed the way many NSW buyers approach purchasing, putting greater scrutiny on building quality, strata records and the parties behind a development before a contract is signed.

The industry buyers are assessing today, however, is also different from the one in which cases such as Opal Tower and Mascot Towers emerged.

NSW has introduced a series of regulatory measures aimed at strengthening oversight of apartment construction, including Building Commission NSW, the Residential Apartment Buildings Act 2020 and the Strata Building Bond and Inspections Scheme. Under the latter, developers are required to lodge a bond, with independent inspections forming part of the process for identifying defects in new strata developments.

Those changes provide another layer of protection, but they haven't removed the importance of buyer due diligence.

[smartcode_project:default project_id=5743 project_image_fid=372394]

For purchasers considering an apartment, that means looking beyond the residence itself. Building and strata history, strata reports, the track record of the builder and developer, the condition of common property and any known or planned expenditure by the owners corporation can all form part of assessing a building before purchase.

Whether the development is already complete can also materially change what can be assessed.

An off-the-plan purchaser is necessarily buying before the finished product exists. A completed apartment, by comparison, can be walked through before contracts are signed, allowing the purchaser to see the finishes, common areas and broader building as they have actually been delivered rather than relying solely on plans and renders.

It also removes exposure to some of the uncertainties that exist between an off-the-plan purchase and completion, including construction delays, cost pressures and builder insolvency during the delivery period.

[smartcode_project:default project_id=5743 project_image_fid=927]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a> National Sales Director Ben Hamblett said that greater focus on tangible evidence is increasingly evident among apartment purchasers.

“The biggest shift we're seeing is buyers wanting proof, not promises,” Hamblett said.

“That's exactly why we deal in completed stock - you can inspect the building before you commit - and why we've backed every purchase with a cash bond against special levies.”

At <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> in Parramatta, that emphasis on a completed, inspectable product is already in place.

The 413-apartment, 46-level tower at 12 Phillip Street is being marketed by Projects by Equitifund, allowing prospective purchasers to inspect the residences, common areas and resident facilities before committing.

[smartcode_project:default project_id=5743 project_image_fid=375255]

The Lennox also introduces another layer to the due-diligence conversation through Strata Surety.

The vendor-funded arrangement provides purchasers with a cash-backed bond held in their own solicitor's trust account from settlement. According to Equitifund, the bond covers any special levy raised during the applicable cover period and is provided at no cost to the purchaser.

Special levies can create an unexpected cost for apartment owners where an owners corporation needs funding beyond its existing strata contributions. Under NSW strata law, a special levy requires approval by owners at a general meeting.

Equitifund Executive Chairman Greg Huxley said Strata Surety was designed to provide something more concrete than reassurance about that potential exposure.

“Buyers have every right to ask hard questions about strata risk - the industry has given them plenty of reasons to,” Huxley said.

“Our answer isn't a reassurance, it's a bond. Strata Surety puts real money behind that confidence, held by the buyer's own solicitor, not by us.”

[smartcode_project:default project_id=5743 project_image_fid=375281]

For The Lennox, its completed status also means purchasers can assess not only the apartment itself, but a building that has already been occupied and operating for several years.

Completed in 2021, the $300 million development, designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, comprises one, two, three and four-bedroom apartments, with open-plan living areas extending to private balconies. Interiors incorporate engineered timber flooring, stone benchtops and integrated appliances, while many upper-level residences have views across the river and surrounding district.

Its established amenity can similarly be inspected in operation. Resident facilities include the Watermark precinct with a 20-metre pool, outdoor terrace, barbecue areas, gym, fitness studio and conference room, while ground-floor retail addresses the river walk and surrounding public space.

The Lennox is also home to the Southern Hemisphere's first fully robotic residential car park, which has now operated for several years. Its nine-level basement combines three conventional parking levels with six automated levels, accommodating 327 vehicles using technology from German firm Lödige Industries.

[smartcode_project:default project_id=5743 project_image_fid=925]

The riverfront address puts The Lennox close to much of central <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a>'s existing infrastructure, including Parramatta Station, Westfield Parramatta, Parramatta Park, and the Church Street dining precinct.

The remaining apartments form part of a limited release secured by Equitifund, following the sale of the majority of residences before and shortly after completion.

The regulatory environment around NSW apartment construction has changed considerably since the defect cases that reshaped public discussion around the sector. For purchasers, however, regulation is only one part of the equation. The ability to investigate a building's history, review its strata position and, where possible, inspect what has actually been delivered remains central to making an informed apartment purchase.

At The Lennox, its completed status provides that opportunity before contracts are signed, while Strata Surety adds a financial backstop against special levies beyond the protections already provided under NSW strata law.

[smartcode_project_cta:default project_id=5743]

Joel Robinson

Buying with confidence: What NSW apartment buyers should check beyond the defect headlines

Too often, heritage buildings become the podium for a contemporary tower. At <a href="https://www.apartments.com.au/new-apartments/623-collins-607-623-collins-street-melbourne-vic-3000">623 Collins</a>, <a>Sterling Global</a> challenged its design team to reverse that process.

The brief to <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> was deliberately simple: "Don't design around the heritage. Design from it." It became the philosophy behind a project that draws inspiration not only from two landmark heritage buildings, but from Collins Street itself, a street layered with architectural history and civic significance.

That philosophy has shaped one of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a> CBD's most considered residential projects, where the 1924 State Savings Bank and neighbouring Batman's Hill Hotel have become the architectural foundation for 623 Collins rather than remnants preserved beneath a new development.

[smartcode_project:default project_id=145324 project_image_fid=372749]

Rather than approaching the site as a blank canvas, <a href="https://www.apartments.com.au/developers/sterling-global">Sterling Global</a> saw the existing buildings as the beginning of the story.

"Sites like this rarely become available," the developer said.

"623 Collins wasn't simply an opportunity to develop a prominent CBD site. It was an opportunity to restore and reimagine one of Melbourne's important heritage landmarks while contributing to the continued evolution of Collins Street. For us, the existing buildings weren't constraints. They were the beginning of the story."

Instead of mimicking the ornate heritage architecture, Plus Studio studied the proportions, rhythm and craftsmanship of the original buildings before translating those characteristics into a contemporary 42-storey tower.

[smartcode_project:default project_id=145324 project_image_fid=372748]

"The brief challenged us to create a contemporary landmark that respected Melbourne's architectural history without becoming nostalgic," Plus Studio said.

"Rather than mimicking heritage, we sought to understand its proportions, rhythm and material language before translating those qualities into a distinctly contemporary architectural expression."

The practice says the State Savings Bank and Batman's Hill Hotel became the project's primary source of inspiration, allowing the heritage buildings and contemporary architecture to exist "in conversation rather than contrast." Generous planted terraces further soften the transition between old and new, creating elevated green spaces while reinforcing the dialogue between the restored podium and the contemporary tower.

That dialogue continues throughout the interiors, where Melbourne designer Fiona Lynch developed a material palette inspired by the idea of alchemy, balancing contrasting materials that reference both the Neo-Grec detailing of the original bank and contemporary urban living. The result is a series of spaces that feel timeless rather than trend-driven.

[smartcode_project:default project_id=145324 project_image_fid=354343]

The project will deliver 316 residences across four collections, Heirloom, Signature, Reserve and the Penthouse Collection, with each responding differently to its position within the building, from the restored heritage podium through to the upper levels of the tower. The Heirloom Residences retain defining heritage elements including original heritage windows, generous proportions and high ceilings, while the tower introduces contemporary homes with expansive layouts and elevated views.

Amenities have likewise been designed to support long-term city living rather than short-stay convenience. Residents will have access to concierge services, wellness facilities including a pool, cold plunge, sauna, steam room and gym, alongside private lounges, entertaining spaces and dedicated resident clubs.

Sterling Global says that approach is resonating with buyers seeking permanence rather than novelty.

[smartcode_project:default project_id=145324 project_image_fid=354347]

According to the sales team, purchasers are looking for enduring architecture, generous floorplans, heritage character and long-term value, with many commenting that 623 Collins "doesn't feel like another apartment development" because of the way the architecture has been curated around the site's history.

Situated on the prominent corner of Collins and Spencer streets, the project occupies one of Melbourne's most recognisable gateway sites, marking the western entrance to the city's best-known street. For Sterling Global, it also reflects a broader shift in city-making.

"Rather than maximising development yield, the project embraces adaptive reuse as a design philosophy, allowing heritage to inform architecture, interiors and the overall resident experience," the developer said.

"The result is a building that feels uniquely connected to Melbourne."

[smartcode_project_cta:default project_id=145324]

How Sterling Global designed 623 Collins from Melbourne's history

Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

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

<html><body>
While criticism of the National Rental Affordability Scheme (NRAS) has been seeing headlines recently, the Green Building Council of Australia (GBCA) is still urging the government to re-commit.
The GBCA's chief operating officer, Robin Mellon, applauded NRAS for driving affordable housing projects across the country, with many of them reaching Green Star benchmarks. NRAS has delivered a total of 14,500 dwellings, with allocations for another 23,000.
“Rather than scrapping the scheme, the Abbott government has the opportunity to make a good scheme even better," said Mellon.
The first NRAS project to achieve 5 Star Green Star - Multi Unit Residential As Built v1 certification was Monash University's Briggs Hall &amp; Jackomos Hall. The University of Tasmania also has projects registered to achieve the certification.
“These NRAS projects demonstrate that well-designed and well-constructed, sustainable developments are more efficient buildings – with lower energy consumption and lower energy bills the result,” said Mellon.
He pointed to recent comments from executive director of the Residential Development Council, Nick Proud, that ditching NRAS would be throwing the baby out with the bathwater.
“Increasing housing affordability in Australia requires a range of complementary measures, together with commitment from industry and all levels of government. NRAS is a vital piece of the jigsaw – one that we can't afford to lose,” said Mellon.
</body></html>

jduke-EHk3XBmHkn

Despite NRAS criticism, government should commit to scheme: GBCA

<html><body>
Live pub theatre the Old Fitzroy Hotel in Sydney’s inner-east is for sale by expressions of interest as the hospitality sector faces consolidation and increased transaction activity.
The iconic pub in Woolloomooloo, about 2 kilometres from Sydney’s CBD, is <a href="/expert-insights/investing/old-fitzroy-hotel-in-woolloomooloo-put-on-sales-block">being sold as a freehold</a> going concern by private owner Garry Pasfield.
Transaction activity for freehold pubs rose in 2013, with the cost of debt low and lenders competing for market share. Experienced hoteliers such as Arthur Laundy and private equity and institutional funds including the John Singleton and Mark Carnegie-led Australian Pub Fund were active buyers.
Other pubs, including <a href="https://www.propertyobserver.com.au/victoria/the-espy-hotel-up-for-sale-four-things-you-didnt-know-about-the-melbourne-landmark/2014022567907" target="_blank">Melbourne live music icon The Esplanade Hotel</a> and <a href="/expert-insights/investing/emeralds-mayfair-ridge-tavern-leasehold-interest-listed-for-sale">Emerald's Mayfair Ridge Tavern</a>, are also on the market.
Specialist accounting firm Ferrier Hodgson, in a report into the hospitality sector released in February, predicted further growth in the volume of freehold transactions in 2014, as confidence returned to the sector and access to well-priced debt and equity finance improved.
The report cautioned that the Sydney market could be subdued in the first half of 2014 as investors waited to assess the effects of strict new lock-out laws, which came into force on February 24 in certain precincts.
Ferrier Hodgson said gaming venues may suffer revenue drops of up to 30% as a result of the new laws, and yields on affected pubs could soften by 0.25 to 1.5%.
“This has the potential to affect the sector as a whole as investor demand increasingly shifts towards assets with truly diverse product offerings, revenue streams and lower operational risk profiles,” the report noted.
The Old Fitzroy falls within the Sydney CBD Entertainment Precinct and has a gaming room with 15 poker machine entitlements, but its business is diversified, being Australia’s only live pub theatre.
Last April, Sydney Independent Theatre Company took up residence at the pub and uses the space six days per week, following the relocation in February 2013 of performance group Tamarama Rock Surfers which had been based at the venue for the previous 16 years.
The pub has been operating on the site since around 1910. It has a public bar, ground floor restaurant, beer garden, function room, commercial kitchen and accommodation rooms and offices on its second floor.
It received TimeOut Sydney’s Best Pub Award in 2012 and Hall of Fame Award in 2011.
CBRE’s Peter Vines and Daniel Dragicevich have been appointed to sell the property.
“We expect this iconic hotel will attract strong interest from a range of potential buyers including experienced operators looking to drive revenue in the already successful ground floor areas and further establish the underutilised first and second floor areas to achieve strong growth in profitability,” Dragicevich said.
The hotel’s public bar features vintage interiors, while the recently refurbished upstairs bar is more modern.
Dragicevich said the hotel held redevelopment potential and would benefit from further refurbishment, “particularly the upstairs bar which is currently underutilised, but would be perfectly suited to a cocktail, whisky or craft beer bar”.
Expressions of interest close March 27. 
</body></html>

zfielding-GvX3Uq9KTa

Iconic pubs for sale as freehold transaction activity increases

<html><body>
The award winning Old Fitzroy Hotel in Sydney’s Woolloomooloo has been put on the sales block. 
The 129 Dowling Street hotel sits on a 273 square metre site and features a public bar, restaurant, beer garden, gaming room with 15 PMEs, function room and commercial kitchen. 
The established hotel received TimeOut Sydney’s coveted Best Pub Award in 2012 and Hall of Fame Award in 2011. Other key features are the accommodation rooms and offices on the second floor, as well as housing Australia’s only live pub theatre. The Old Fitzroy Theatre is currently leased to the Independent Theatre Company and used six days per week.
CBRE’s Peter Vines and Daniel Dragicevich have been appointed by Garry Pasfield to sell the property via expressions of interest. 
“We expect this iconic hotel will attract strong interest from a range of potential buyers including experienced operators looking to drive revenue in the already successful ground floor areas and further establish the under-utilised first and second floor areas to achieve strong growth in profitability," said Mr Dragicevich.  
He also pointed to the hotel's redevelopment potential. 
</body></html>

kjiminez-eaYKfU7qd2

Old Fitzroy Hotel in Woolloomooloo put on sales block

<html><body>
A two-storey retail building in one of Melbourne's most prominent high streets - Acland Street in St Kilda - has been slated for auction. 
Located at 143 Acland Street, the property is leased to national retailer San Churro.
Chocolateria on a five year net lease, with  4% annual rental increases.
The net annual net income is $133,760 plus GST and outgoings.
It is scheduled for auction on 21 August through Josh Rutman, Mark Wizel and Rorey James of CBRE. 
</body></html>

Two storey Acland Street, St Kilda retail building listed

<html><body>
The leasehold interest of the Mayfair Ridge Tavern in the central Queensland mining town of Emerald has been listed for sale.
Located on the corner of the Gregory Highway and Mayfair Drive, the single storey tavern was constructed in 2008 and is situated at the entrance to Emerald’s newest master planned residential estate Mayfair Ridge.
The expressions of interest campaign closed on 2 April through Leon Alaban and Sean Dollar of Ray White Hotels Australia.
Mr Alaban said “the site’s facilities consist of a sports bar, lounge bar and dining, a function room, gaming room with 35 EGMs, outdoor dining, a drive through bottle shop with liquor barn and one detached bottle shop.” 
“A massive benefit to the sale of this lease is that the tenant owns the 35 gaming authorities, ownership of these authorities should subsequently provide lending institutions added confidence to fund the acquisition.”
</body></html>

Emerald's Mayfair Ridge Tavern leasehold interest listed for sale

<html><body>
CDE Mortgages has secured a 228 square metre office suite in the Sydney CBD.
The four year lease was secured at 233 Castlereagh Street, on about $540,000 gross plus GST per annum.
Owned by property fund manager and investor, GDI Property Group, the building was substantially refurbished in 2004 to provide its tenants with a more flexible and efficient floor space design.
Thomas Fredriksen and Brendan Shipp of Knight Frank negotiated the lease.
Mr Shipp said “we are noticing that demand has increased greatly from tenants across various industry groups looking for sub 500 square metre spaces, particularly in the southern precinct of the Sydney CBD."
He attributed that increased demand to "the number of overseas firms looking to establish offices in Sydney and meet the growing demand from overseas markets to invest within the Sydney marketplace."
</body></html>

CDE Mortgages secure four year Sydney lease

<html><body>
DEXUS Property Group has secured a new lease with Lend Lease Business Services across more than 3,000 square metres at its The Zenith building in Sydney's Chatswood. 
The lease, at 821 Pacific Highway, extends Lend Lease's occupancy in the building to more than 7,300 square metres.
Dexus general manager of office and industrial for office and industrial, Kevin George, said combined with its tenancy at 30 The Bond, Lend Lease occupied more than 24,000 square metres across its Sydney office portfolio.
“Our active leasing approach and leveraging of tenant relationships has resulted in the leasing of almost 10,000 square metres at The Zenith over the past five months, increasing occupancy to over 95% and the weighted average lease expiry to 4.2 years," he said. 
The Zenith is managed and 50% owned by DEXUS, with the GPT Wholesale Office Fund owning the remaining interest.  
Dexus and partner The Canadian Pension Plan Investment Board is close to clenching 100% control of the $3 billion Commonwealth Property Fund.  Recent leasing at The Zenith includes:
<ul>
<li>Lend Lease Business Services new lease across 3,120 square metres adding to Lend Lease Abigroup Limited’s existing tenancy across 4,225 square metres</li>
<li>
Government Property NSW - Transport’s new lease across 2,116 square metres, growing its tenancy to 8,437 square metres
</li>
<li>Government Property NSW - Health Share’s recent long-term lease renewal across 4,646 square metres.</li>
</ul>
</body></html>

DEXUS secure new Chatswood lease with Lend Lease

<html><body>
A popular café in East Melbourne has been purchased by a private investor on a paper-thin yield of about 5.3%. 
The strata titled property, home to French-inspired bakery Laurent Patisserie, is located on the ground floor at 1 Powlett Street and sold for $1.53 million.  
Tenant Laurent Patisserie started its five year lease last year, at a current net rental of $81,752.
 It is subject to annual increments fixed at the CPI. There is one further five year option to renew with a rental review to market on exercise.
Gray Johnson director Matt Hoath negotiated the private sale.
The strata property on the ground floor of a high quality apartment building, said Mr Hoath, was fitted out as an exclusive cafe and patisserie and benefits from its premium position immediately opposite the MCG, Jolimont railway station and in close proximity to Melbourne’s most revered city edge parklands.
The sale price represented a site value in excess of $12,000 per square metre, he added. 
</body></html>

Popular East Melbourne café sells on thin yield

<html><body>
The international interest in Australia's commercial property market has continued with Singapore's International Healthway Corporation making its first foray into the country with the purchase of a Melbourne building for $45 million.    
In a statement, the integrated healthcare services and facilities provider said it had "signed a contract of sale" for the acquisition of 553 St Kilda Road in Melbourne and that the purchase marked the beginning of its portfolio diversification into Australia.  
Dr Jong Hee Sen, executive chairman of IHC said: "Diversifying into attractive and large economies in the Asia-Pacific region such as Australia, has been a key growth strategy since our listing in July 2013."
"IHC continually sources for attractive opportunities to expand our involvement in medical real estate, healthcare-related assets, integrated mixed-use developments, as well as healthcare services, to increase future income and enjoy capital growth prospects.  
"With Victoria being one of the most populous states in Australia, we are pleased to begin our expansion into Australia in this vibrant state.” 
The seven storey building is fully leased and is located on a 3,044 square metre site and it has a net lettable area of 10,170 square metres.  
 Dr Jong Hee Sen added that IHC plans to reposition the property over the next few years.
"With the rising healthcare demands of the ageing population in Australia, 553 St Kilda Road will complement and create synergies to the existing medical services provided in the surrounding vicinity," he said.
The property is located next to the Alfred Hospital. 
</body></html>

Singapore's IHC makes first Australian acquisition

<html><body>
One of Melbourne's most exclusive retail locations on Collins Street is set to be the new location for international luxury brand Hermès. 
The luxury retailer will occupy 420 square metres over two levels in the former NAB building. It is the first time that the space has been on the market in 76 years.
The 10 year lease, at 71 Collins Street, was facilitated by Ben Tremellen and Alexander Robertson of Colliers International.
“A second wave of more than 15 international brands is set to hit Australian shores in 2015-16,” Mr Tremellen said.
“The Melbourne CBD, and Collins Street in particular, will be at the forefront of this growth.
“The CBD continues to be the first location of choice for major international retailers coming to Australia and luxury brands have already begun expanding their presence.
"Melbourne is becoming a first stop for many of the luxury brands, due largely to the level of sophistication of the local market.”
Colliers research has found international retailers, upon entry to the Australian market, generally sought a flagship store in either the Melbourne or Sydney CBD, following up with locations in major shopping centres such as Chadstone in Victoria and Westfield Sydney.
“These retailers typically require large floor plates, with their average store size substantially larger than those of local retailers,” Mr Tremellen said. The store size requirement ranged between 150 square metres and 400 square metres. 
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News