Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

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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Western Australia has once again topped the states when it comes to driving the nation’s economic growth, despite the downturn in the mining boom.
The Northern Territory has <a target="_parent" href="https://www.smartcompany.com.au/finance/34215-wa-continues-to-lead-but-the-rest-of-australia-is-catching-up-state-of-the-states-report">leap-frogged the Australian Capital Territory</a> into second place, according to the latest CommSec State of the States report, further demonstrating the strength of the mining states.
Queensland and the ACT tied in third place, while New South Wales and Victoria also tied in fourth.
A significant gap then separates these states and South Australia, while Tasmania continues to lag behind the rest of the nation.
While WA is still on top, it came out first in only one of the eight criteria, compared to five categories in April 2012. However, it did manage to come second in a further six categories.
CommSec economist Savanth Sebastian told SmartCompany overall the resources states are strengthening.
“WA was front and centre in terms of growth. The income flow is now filtering through the economy and retail spending was particularly strong,” he says.
“The Northern Territory and Queensland were healthy in terms of business investment and this has been supported by lower interest rates, fostering a turnaround in the economies of these states.”
The NT’s main strengths include construction work, retail trade and dwelling starts, however it came in last place in the housing finance category.
“The resource states will dominate going forward in terms of an income boom. The mining boom isn’t tapering to the extent that it was once thought and even though it will taper the property boom will support the economy,” Sebastian says.
The ACT slipped to third place because of a loss of momentum in business investment, however it continues to perform well in the population growth criteria.
Sebastian says the biggest driver of the 2014 growth story will be the housing sector.
“Victoria remains about six to nine months behind what we’re seeing in NSW in the property market,” he says.
Tasmania came in last on all indicators, except housing finance where it placed sixth.
Sebastian says its main weakness is a stagnant population and a high unemployment rate, although all hope is not lost.
“In Tasmania the weaker currency will be beneficial in a broader sense. When you see a lift in housing activity, particularly when housing affordability is strong in the region, it can support a turnaround, so we could see some other sectors start to get some support,” he says.
CommSec predicts in 2014 growth in all states and territories should start to lift as consumers and businesses show a sustained level of optimism.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
 
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yredrup-o4Anfe78KF

Resource states still fueling economic growth, while Tasmania continues to lag

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With unique charm and situated in prime locations, there’s a lot of appeal to owning a heritage property. But while the rarity of heritage residence ensures that they have long-term value on the market, the many restrictions on renovating, subdividing or altering them can leave many investors wondering whether they’re worth the hassle.
If a property or site is deemed to be significant to the heritage of a local area, it may be protected under a heritage overlay, enforced by the local council. While a property that is deemed a “heritage place” by the local council may not necessarily have strict restrictions on changes, a heritage overlay will require a permit to subdivide land, demolish or remove any part of a building, carry out construction (including building a fence), construct or display a sign, externally paint an unpainted surface or externally paint an advertisement onto a building.
Other controls over external painting, internal alterations and trees also may apply, depending on the individual property.
Renovating For Profit founder Cherie Barber says that it’s vital to understand what kind of heritage protection the property in question falls under. She notes the distinction between a heritage listed property, and one that falls in a heritage and conservation precinct.
“One is individual, and one is blanket. Heritage and conservation applies to a whole suburb. The council is saying, ‘we’re going to be very particular about the development in the suburb. We want all the houses to retain the underlying fabric of the suburb.’ So they’re very particular about the exterior. Those properties usually don’t have any restrictions on what you can do internally.”
However, that doesn’t mean that a renovating a property in a heritage and conservation precinct is cheap. To obtain approval for changes to a property, the council often requires that renovators and investors produce reports from experts in heritage constructions.
Barber advises renovators in heritage suburbs to expect delays when trying to get paperwork approved through the council.
“The typical lead time in approvals is four to nine months in my suburb, and each report can be thousands of dollars.”
Barber recently spent $70,000 on reports alone while building an extension on the back of a property in a heritage and conservation precinct, even though the property itself wasn’t heritage listed.
According to Barber, the paperwork required in applying for permits for heritage homes is one of the greatest costs to investors. In 2004, Barber purchased a heritage listed property in Balmain, intending to subdivide the plot. But before signing the contract, she negotiated a five day due diligence period.
“I got a town planner, an architect and a heritage expert, we met off site, and we discussed whether I could get my subdivision approved.”
Engaging three experts for the single consultation cost about $1000. Barber’s team agreed that she would have an 80% chance of getting the subdivision approved, with a 20% chance that the matter would have to go before the Land and Environment court. With that knowledge in hand, Barber built the costs of legal proceedings into her investment.
The approval did end up going before the Land and Environment court – a lengthy and expensive process, Barber says. With each witness charging $250 to $300 an hour, Barber notes that it isn’t hard to spend $5,000 to $10,000 per witness. In total, the court process cost her $90,000.
Two years after purchasing the property for $2.51 million – with one year spent negotiating with the council, and one year in court – Barber sold it for $3.75 million, without undertaking any construction on the property. Total costs, Barber says, were about $360,000.
While Barber managed to walk away with a tidy profit from “paper shuffling”, she warns that the process isn’t for those without some serious capital behind them.
“For newbie investors, that’s the stuff that can send you bankrupt.”
While it may seem that heritage controls exist to preserve a building exactly as it originally stood, the Victorian Department of Transport, Planning and Local Infrastructure <a target="_blank" href="https://www.dpcd.vic.gov.au/heritage/local-government/heritage-overlays-local-heritage-legislation">notes</a> that “not every building or landscape element will be significant”, and that making changes or removing “non-contributory” elements of heritage places is generally not an issue.
Such subjective terms make councils unpredictable, Barber says. As such, she advises that only the serious investor or renovator should approach a heritage property.
“You’ve got to be savvy. You need a good team of professional experts around you. You have your trade team and your professional team – ‘the suits’– your town planner, your architect, your lawyer, your structural engineer. And when you’re working on a heritage property, you’re going to need the suits more than the trade team.”
Wakelin Property Advisory founder Monique Sasson agrees.
“Normally they are extremely significant, 7 figure properties. There are two reasons you would buy one of those: as a loved and cherished family home, or as some kind of commercial enterprise, to have a heritage related business.”
“Either way, we’re talking about a very significant investment.”
“If you’ve got that kind of money, and you’re pretty set on holding on to the property for many years, then a heritage property can be great.”
“But if you’re buying it because it superficially looks good, stay away.”
While owning a unique heritage property might seem appealing, Sasson warns that the task should only be approached by those with the budget, the knowledge, and the commitment.
“This is not a purchase for the average investor. This is for a specialised investor.”
“For the average mum and dad investor – don’t go near it.”
Back in September Property Observer listed four of <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/top-four-heritage-properties/2013093065369">our favourite heritage properties</a> covered throughout 2013. 
Amongst our picks was Bendigo's Fortuna Villa heritage trophy estate (pictured below). <a target="_blank" href="https://www.propertyobserver.com.au/victoria/fortuna-villa-heritage-trophy-estate-finally-sells/2013062662744">It finally sold in June</a> last year, for $2.21 million.
{yoogallery src=[images/stories/2013/04/april12fortuna]}
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
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jrichardson-uRX5hFdKfN

Are heritage homes good investments?

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Are formal dining rooms requisite in new build homes?
That's the discussion topic this Australia Day weekend around our barbecues, our property commentators Jonathan Chancellor and Margie suggest. He says no, she says yes to their continuation.
HE SAYS <img height="225" width="150" src="/images/stories/2013/09/06/jc-silhouette-5.jpg" alt="jc-silhouette-5" style="float: right;">
Formal dining rooms are almost a thing of the past  - gone with the nightly whole of family dinners and the special Sunday roasts around the formal table.
But Margie's deep love of the formal dining room makes her the perfect dinner party guest for the uncompromising historian, Dr James Broadbent, reminising about the days of our pioneer settlers over cucumber sandwiches at his intact 1809 home, The Cottage, Mulgoa.
Perhaps recalling the shipment by William Charles Wentworth in 1845 of his imposing Gothic oak sideboard for the dining room at Vaucluse House.
The darkened formal dining rooms date back to those London-originating pattern books for Australian domestic use that started to fall from favour around the time we released they didn't come with the requisite verandah.
Australian homes now embrace openness and light, although the need and success of a formal dining room can depend on its size of the house and location.
I'd suggest Bishopscourt in Darling Point will always need one, for instance, no matter who becomes its next owner.   
<img height="627" width="470" src="/images/stories/2014/01/24/he-said-jan-24-one.jpg" alt="he-said-jan-24-one">
The dining room at Bishopscourt, Darling Point.
But it's now all about the pursuit of function over form these days with the vast Vaucluse house (pictured below) recently completed by Andrew Ipkendanz the current scene stopper. <a target="_blank" href="/news">It is up for sale through Alison Coopes</a>.
Its open-plan kitchen, living and dining area, looking squarely down the harbour, is ideal for relaxed Australian-style dining, however the lack of any formal dining room in the Carrara Road home has been described by some as an "idiosyncrasy."
{yoogallery src=[images/stories/2014/01/23/vau1]}
Indeed its absence could be a sales sticking point, one prestige agent has suggested.
“There’s a type of buyer who will say that having a formal dining room is a requirement they’re not prepared to compromise on. It’s a gamble,” Christie’s agent Ken Jacobs says.
Ipkendanz acknowledged in a recent Australian Financial Review article the no fomal dining room decision was a “big departure” from the norm, but having lived and built in locations around the world as far spread as Brazil, Italy, France’s St-Jean-Cap-Ferrat and London, he was adamant the home had been built the way a home located in Sydney, Australia, should be.
{yoogallery src=[images/stories/2014/01/23/vau2]}
“I just don’t think people in this environment need a formal dining room. We’ve got a kitchen table that is five metres long and a huge outdoor terrace. I know when they use the home they’ll realise the kitchen and living space is so magnificent, it’s the only place they’ll want to be,” he said.
Of course there is a vast caterer's kitchen carefully planned to be close to the dining table, yet out of sight.
<img height="225" width="150" src="/images/stories/2013/09/06/mb-silhouette-4.jpg" alt="mb-silhouette-4" style="float: left;">SHE SAID
I have a penchant for formal dining rooms. But I agree with Jonathan, a formal dining room in a home depends on its size of the house and location.
For instance, big beach houses typically don’t need a formal dining room – an open-plan kitchen and spacious dining zone is much better suited to a modern beach house.
Formal dining rooms suit large modern suburban homes and those in rural lifestyle areas, like the Southern Highlands and Mount Macedon. Sitting down to dinner with family and friends in a room specifically designed for eating and entertaining (and separate to the kitchen) is not only enjoyable, but also provides a sense of style and occasion.
With contemporary residences, a formal dining room doesn’t need to have four walls - it can open from the formal sitting area, or indeed flow onto a large outdoor terrace.
But I can’t imagine owning a Toorak or Bellevue Hill mansion and not having a formal dining room.
Certainly formal dinners are a traditional social obligatory among owners of large homes on Sydney’s upper North Shore, which is the domain of the NSDP (North Shore Dinner Party). In this neck of the woods, where good restaurants are few and far between, couples emulate Martha Stewart (or Nigella Lawson before her recent divorce) by hosting friends at carefully planned three or four course dinners in the formal dining rooms of their homes.
Currently for sale in Pymble Road, Pymble are a series of four new residences - <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-pymble-115039631">two with formal dining rooms (82A and 82B) and two (82C and 82D) without</a>. Each measuring about 350 square metres internally, these large Pymble homes are for sale at $2.8 to $2.9 million through Jenny Zhang of Century 21 West Pacific.
Granted however with smaller new houses, formal dining rooms don’t feature.
Home World’s website provides pictures, descriptions and floorplans for a wide range of new open plan residences including Masterton Homes’ double-storey <a target="_blank" href="https://www.homeworld.com.au/homes/merlot-elite">Merlot Elite</a>. Gone is the formal dining room, and in with the new norm including the downstairs home cinema and the upstairs lounge room.
{yoogallery src=[images/stories/2014/01/24/mer]}
As the Home World website says the Merlot offers the ultimate, imaginative use of space providing separate areas and zones which tick all the boxes required for family living; home theatre, secluded study, open-plan living and kitchen flowing onto al fresco dining and entertaining and a fantastic family bedroom and living upper floor area.
Over the years, I’ve seen a wide array of formal dining rooms, mostly in grand mansions and penthouses on the north shore and in the eastern suburbs.
Among the most impressive were the Joye's dining room at <a target="_blank" href="/news">Barford, Bellevue Hill</a>. The <a target="_blank" href="/news">Princeton penthouse</a>, Double Bay – decked out by doyen Leslie Walford - was also special. I simply adored the dining room formality of this mansion while visiting Bali recently (pictured below), away from the coast amid paddy fields. And of course the one in the as yet unsold <a target="_blank" href="https://www.propertyobserver.com.au/news/bishopscourt-darling-point-for-sale-for-probable-%2425-million-plus-hopes/2013090264719">Bishopscourt in Darling Point </a>where I snapped jonathan recently! 
<img height="352" width="470" src="/images/stories/2014/01/24/she-said-jan-24-two.jpg" alt="she-said-jan-24-two">
news@propertyobserver.com.au
 
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jchancellor-FAypfDUnLy

Do Australian homes need the formal dining room? He Said/She Said

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It's summer time, so longingly looking into estate agent window displays for shacks for sale up and down the coast has been principal property pursuit of many.
But buying? 
Before dashing off to Paris for Christmas, Pitcher Partners partner David Staples, compiled an analysis, counselling would-be buyers to do their sums.
Rathering than offering sanctuary and status, the reality could be a financial black hole.
“It’s generally a lifestyle choice rather than an investment,” he suggests. 
Our commentators Jonathan Chancellor and Margie Blok look at the pros and cons of owning a holiday home and find it's actually quite generational.
 
HE SAID
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/09/06/jc-silhouette-5.jpg" alt="jc-silhouette-5" width="150" height="225" style="float: right;">
For starters, I look at holiday homes as an indulgent compulsory savings endeavour, building wealth through property for retirement.
Maybe rather than working from home, middle aged senior executives actually take their laptop workload to their coastal retreat - and their staff  aren't the wiser.
And even an essential escape from the city for the weekend - especially when there is adjacent demolition and construction every Saturday morning for years on end in the neighbourhood.
Yes it's rented out to others at the peak holiday times, but having use of it through the decades means having all those memories of fun family holidays. Yes there will be a period when the kids find it daggy, but they will be back. The pets will always come with you though.
For many it's most likely a home-from-home with the eventual savvy sea change shift less stressful than for everyone else.
So what is the main downside of this seemingly good personal investment?
Some coastal property owners complain that they spend all their time fixing up and maintaining their holiday homes. Yes maintenance on the coast tends to be higher due to the proximity of the sea, but just think supply and demand ensures that sea view coastal properties fair better than most when it comes to holding, losing or improving their value. So find the great local help.
Of course, coastal properties with easy access to schools, hospitals and shopping centres have quicker sale times if you do need to exit.
Rental returns in many coastal spots can cover most costs - maybe all up around eight weeks a year with demand then plummeting during winter which is when the owner can enjoy those blustery southerlies.
Typically you'd expect it to provide a net annual yield of no more than 2 per cent, even if commanding weekly rents of $2000 or more in peak periods. Ofcourse there's always the chance of using the income for a quick ski at Whistler while the tenants are swatting away the beachside blowies.
But beware the expectations of holiday guests has risen in recent times so household items once considered extras such as air-conditioning, a dishwasher and a modern gas barbeque are now viewed as essential. Not sure that the Nepresso machine and adequate supply of capsules is yet mandatory for the vacation crowd.
Margie may consider it a con, but being in one location for vacation year after year can be a delight. It's a safe place, boring and routine - but with a good book selection, a pack of cards, scrabble game and spare clothes with a musty odour - providing just the necessary break from the hustle and bustle of the city.
Ideally, its driving distance from the city should not be much further than two hours or so.
 
SHE SAID
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/09/06/mb-silhouette-4.jpg" alt="mb-silhouette-4" width="150" height="225" style="font-size: 19.09090805053711px; float: left;">Owning a holiday house can be more a curse than a blessing given the ongoing costs and obligation to use the place.
Who wants to constantly return to the same holiday spot when inexpensive travel deals offer a wide range of local and overseas destinations with hotels and resorts providing interesting and relaxing holiday options and staff to take care of everything?
Heading off to a holiday house with family or friends is a nice idea, but in reality it involves a daily grind of cooking, cleaning and laundry, as well as provisioning with food, booze and other supplies from a local shopping centre.
During the peak summer season, these shopping experiences can be truly hideous at popular holiday spots (especially those on the coast) crowded with hoardes of holidaymakers, often with screaming children in tow.
According to David Staples from the accounting firm Pitcher Partners, the money spent on an average holiday house could pay for more than one week a month – or about 90 days a year – in a quality hotel.
The AFR Weekend noted Staples' sums of owning a holiday house with $500,000 mortgage repayments at 4.9 per cent – the lowest in a generation – would actually total about $24,000 annually, the equivalent to about 70 nights a year at a holiday resort costing $350.
Staples' colleague Jordan Kennedy says that means the buyer would need to spend their 20 days of annual holidays, 10 public holidays and 19 weekends at the holiday home to justify the cost. And when you add in another $30,000 for rates, maintenance and other costs, it pushes close to 90 nights a year.
Also, land tax on a holiday house can be a massive burden, particularly in pricey areas on the Mornington Peninsula and on Sydney’s northern beaches. In these areas, annual land tax on a holiday home can amount to tens of thousands of dollars.
During the 1960s when air travel from Australia, on Qantas and BOAC’s Boeing 707s, was expensive, owning a holiday house was more appealing than it is today. For our parents’ generation, holiday houses were more affordable – but now, when you take costs into account, I think there are better holiday options.
One trap to be aware of with a holiday home is any ownership in a self-managed superannuation fund. Anthony Keane, editor of Your Money, reported recently in the News Ltd papers, that strict rules around self-managed super prevent property owners from gaining any personal benefit from their fund assets until retirement, and there are nasty tax penalties for breaking the rules.
<div><a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a></div>
<div> </div>
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Holiday homes: finances aside, the pros and cons come down to a generational outlook

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Australia is the world capital for property speculation. Australians play property like Monopoly: buying, selling, demolishing, rebuilding, extending, renovating, always with the promise of appreciation on resale. The contribution to GDP of real estate transactions alone is the highest in the world, and three times higher than that in the US.
Around one in seven Australian taxpayers owns one or more investment properties, aided by generous tax concessions. Australia has one of the highest levels of household debt in the OECD due to borrowings for property purchases.
This amounts to what is effectively an infinite demand for property in Australia, exacerbated by a growing global investor market. The resulting competition at sale is the main reason for Australia’s rapidly declining housing affordability. While some (but by no means all) of this activity is creating new dwellings for rent, the rents are increasing too.
Renters last
Renters are the losers in the property game. Not only do they struggle with high rents but tenant protection in Australia is among the weakest in the developed world. This is not coincidental: Australia’s 1.8 million and counting property investors support and are supported by tenancy legislation heavily weighted in favour of landlords. This produces a fundamental lack of security in rental housing.
Australia stands in stark contrast to North American and European countries, which have a range of much stronger tenant protections including rent control and security. As these are nuanced and vary from state to state in all these countries, as well as in Australia, broad comparisons are difficult to make. But a few key points can draw the picture.
In Victoria, rents can be increased every six months with no limit on the amount (though a tenant can appeal to the Victorian Civil and Administrative Tribunal if the amount exceeds similar properties in the same area). In Germany, which is around average for tenant protection in Europe, rent increases are capped at 20% every three years. Landlords who overcharge can be fined.
In Victoria, 60 days is the standard amount of notice required for a tenant to vacate. In Germany the notice requirements vary according to how long the tenant has lived there: three months is the minimum for someone who has lived in the property for less than five years. Six months notice is required for a tenancy between five and eight years; nine months for longer than eight years.
Elderly long term tenants are protected: a landlord has to make a very strong case for their eviction, and is required to pay compensation and/or assist with their relocation.
In Victoria, tenants can be evicted so a property can be sold with vacant possession, which may or may not bring a bit more on the sale price. If the place is bought by another investor the property returns to the rental market some months after the original tenants had to find a new home. In Germany this is illegal: tenanted properties are sold with their tenant in place.
This strong legislation is possible partly because of the role of large landholding institutions in Germany that treat their housing assets as long-term secure investments that provide a steady return. The resulting long leases mean tenants can consider their rented property their home and fit it out accordingly. The tenancy protections supporting this arrangement act as a disincentive to speculators, which in turn reduces demand for investment properties and therefore competition at sale.
When people prefer to rent
The historical and cultural contexts in Australia and Europe are profoundly different of course, but it is useful to reflect on the institutional and legal practices that enable renting one’s home to be the norm.
In contrast to Australia, where land and housing are treated as commodities, the combination of large landholders and strong tenant protections in Europe creates a self-reinforcing cycle that maintains house prices and rents at relatively stable and affordable levels. The resulting security means Europe doesn’t have anything like the stigma against renters that can be found in Australia.
Australia is changing, however. The prohibitive cost of housing for purchase, desire to delay or avoid the burden of housing debt, and simultaneous growth of a footloose, casualised workforce – whether by circumstance or choice – is creating generations of people who prefer to rent.
As cultural attitudes change, the institutions should follow. The potential role of Australian superannuation funds in investing in housing has been avoided for too long: for decades trillions of dollars of workers’ hard-earned have been distributed over a range of investments without alleviating Australia’s crisis of housing affordability.
The super funds are finally reconsidering this position, and so too should Australia’s legal practices adapt. Legislative changes should be made to facilitate significant super fund investment in secure and affordable rental housing, followed by strengthened tenancy protections.
If these changes were coupled with reduction of the tax incentives to small property investors, the market would shift dramatically. But this would require Australian voters to curb their enthusiasm for the property game. What are the chances of that?
 
<hr>
 Kate Shaw is an Australian Research Council (ARC) Future Fellow in Urban Geography and Planning. Her current research focuses on urban renewal in the 21st Century.
 
This article first appeared on <a href="https://theconversation.com/renting-for-life-housing-shift-requires-rethink-of-renters-rights-20538" target="_blank">The Conversation</a>.
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po-LsXgBTHBmX

Renters are the losers in the property game: Time to rid the stigma: Academic

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There will be a Senate inquiry into affordable housing this year.
Just a fortnight before Christmas, Queensland Senator Jan McLucas, Labor's Shadow Minister for Housing and Homelessness, secured the inquiry that will investigate private and public accommodation, both ownership and rental.
<a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Affordable_housing_2013/Submissions" target="_blank">The economics references committee, currently taking submissions, will report by 26 June.</a>
Of course it was only 2008 when a Senate select committee on housing affordability in Australia last reported.
So just how much this latest effort involves dusting off the prior submissions and the final report will be interesting to note. It might be optimistic to expect many new understandings emerge.
This inquiry will look at the biggest bugbear - the role of all levels of government in facilitating affordable home ownership and affordable private rental, especially the taxes and levies imposed by the Commonwealth, state, territory and local governments.
It will provide a timely look at the operation, effect and future of the National Rental Affordability Scheme.
The regulatory structures governing the roles of financial institutions and superannuation funds in the home lending and property sectors will be reviewed. 
Issues including appropriate, affordable and adaptable accommodation that  ensures emergency and essential service workers have access to affordable housing close to where they work will no doubt be addressed.
Also the important role of innovation in building materials and construction, including prefabricated and sustainable materials.
Alreeady three submissions have been lodged .. no none from our Monday morning columnist Catherine Cashmore. She's of the view that it could be just a repeat version of the 2008 report entitled “A good house is hard to find: Housing affordability in Australia” which was detailed in its content.
"It’s five years later and we seem to be no further forward," Catherine suggests.
I argue we are actually probably the poorer. And the Abbott Government's inexplicable axing of the National Housing Supply Council does create a void that can, inpart, be filled by the senate inquiry.
But not with any great hope for significant change. I am inclined to agree with economist Saul Eslake that politics – more than any other single factor – means that Australians are likely to have to live with a dysfunctional housing system for a long time yet to come.
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2014: Dusting off the Senate's 2008 housing affordability report or real progress?

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Two apartment tenants in Canberra who sued their landlord for faulty airconditioning and a failure to provide Foxtel have been awarded $3788 in compensation.
The tenants, Emilio Broso and Hyeyoung Sun, signed a 12-month rental agreement for the apartment in September 2012.
They filed a case with the Australian Capital Territory Civil and Administrative Tribunal (ACAT) on 15 July 2013, seeking to terminate the residential tenancy agreement, and compensation.
According to ACAT, The tenants contacted their property manager from Ray White Canberra on December 2012, alleging that that the air-conditioning “turned itself off every 20 minutes”, but was not satisfactorily repaired until March 2013.
Due to extreme temperatures above 30°C, the tenants alleged that they were unable to to sleep because of the heat.
In addition, the tenants alleged that the premises was not properly secure, and that despite being told Foxtel was connected in the property, it was not.
The tribunal found the air-conditioning issue was a breach of the landlord’s obligations, and ruled that the tenants be compensated $3048, 65% of the rent paid during the hot months of December 2012, as well as January and February 2013.
In addition, the landlord was ordered to compensate $610 to the tenants, the equivalent of five months’ Foxtel subscription fees.
In relation to the security of the premises, the tribunal was not satisfied with the evidence presented.
Broso told Property Observer that he contacted Ray White Canberra in November 2011 about faulty airconditioning in the apartment, but it was only fixed in March 2012.
“Ray White don’t (sic) really care about us, they sent a few people to fix up the problem, but the problem wasn’t fixed up until after five months,” Broso said.
He said that they changed a number of agents in a year and that nobody knew about the problem. After winning at ACAT, he notes that he is waiting for the payment.
Broso also alleges that he spoke to the landlord recently, and the landlord was unaware of the events that transpired with the exception of a phonecall in November 2012, that informed him of the issue with the air-conditioning. 
Ray White spokesperson Lisa Pennell told Property Observer it was “not ideal” that the repair of the air-conditioning took four months.
Providing an account of the incidecent, she said on December 12 2012 the tenant reported the issue with the air-conditioning via email, and a maintenance work order was issued on the same day. However, that particular company failed to get back to Ray White by January 22 2013. Ray White then issued a separate work order to another company, who only managed to get in touch with the tenant on January 25 this year.
On February 13 this year, the company provided an update to Ray White that they were awaiting information about parts to supply a quote. The next day, on February 14, they provided an estimate that it would be cheaper to replace the air-conditioning unit than repair it.
However, on February 20, the owner responded that the air-conditioning unit was still under warranty, and instructed Ray White to contact the company handling warranty repairs. The company then undertook repair work on the air-conditioning unit, which was completed in April 2013.
Pennell also told Property Observer that there was “extensive communication” between Ray White Canberra and the landlord throughout the tenancy. 
Responding to the tenant’s claims that Ray White Canberra changed six or seven agents during his tenancy, Pennell said, “The tenant would have had contact with a number of different people within the office during the normal course of business, including a leasing agent, receptionist, and property managers. One property manager did leave during the tenancy, otherwise the staff of the office has remained consistent.  It is normal in a modern office for various parts of the property management process to be handled by different staff, and also for staff to be able to substitute for each other in times of illness or leave.” 
She added that “numerous attempts were made to mediate the conflict prior to the tribunal hearing”, but it was unsuccessful.
Pennell also noted that the tribunal’s decision to award 65% of the rent to be paid as compensation to the tenant was “perplexing”, as cooling is not listed as an urgent repair in the ACT. She also felt the decision to award compensation for Foxtel was unusual, as the lease did not stipulate Foxtel as an inclusion.
She also said the owner is “currently considering appealing the decision.”
ACAT registrar Athol Morris told Property Observer that while a 65% compensation for four months' worth of rent is an "unusually high figure", it is "well within discretion". 
"It is clear that the landlord has persistently failed to fix the airconditioning," Morris said. 
With the Foxtel issue, Morris said, " The matter was heard, both parties were represented, the member decided it was what it was worth in this case."
Lisa Indge, managing director of property management firm Let’s Rent, advises that “best practice” for tenants should always be to report all repairs in writing unless urgent.
She says property managers should induct their tenants at the beginning of the tenancy to put all repair requests in writing, and if tenants ring the office, ask for them to send an email.
“Property managers should have systems in place to ensure (cases like this) this does not occur including a requirement that tenants report repairs in writing and a system of following up outstanding work orders,” she said.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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dleow-BGaNPbHWyK

Canberra tenants sue landlord for faulty air-conditioning

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The year 2013 has been plagued by collapses – some more notable than others due to the history of the business, the impact on staff members, or the statement the collapse makes about the state of an industry.
Many mining and construction companies crunched, while a number of prominent fashion labels such as Lisa Ho and Bettina Liano wound up.
Fitness equipment companies, printers and dairy businesses took a dive, showing how some areas were harder hit than others.
Here are 20 that made the most impact within their industry and resonated with readers.
1. <a href="https://www.smartcompany.com.au/1.%09http:/www.smartcompany.com.au/growth/economy/32958-family-owned-menswear-business-founded-in-1936-collapses-with--6-million-turnover">Brenstew</a>
In August, family-owned retail fashion business Brenstew, based in rural New South Wales and founded in 1936, collapsed, with administrators blaming tough trading conditions and a poorly-timed expansion. The company had five retail outlets in Dubbo, Tamworth and Armidale, under the brands Blowes Menswear, The Wardrobe and URXs. At the time of the administration it was reported that it turned over more than $6 million annually.
2. <a href="https://www.smartcompany.com.au/finance/31873-cleaning-company-with-2500-employees-and--92-million-turnover-collapses">Swan Services</a>
Cleaning giant Swan Services faced administration after reportedly suffering losses from a number of unprofitable contracts. The administration encompassed Cleaners QLD, Cleaners SA, Cleaners ACT, Superior Cleaners WA, Cleaners New South Wales and Cleaners Vic. All companies ceased to trade and the employment of the 2379 cleaners was terminated unless otherwise advised. The business operated for 43 years. It reported it had turnover of $92 million in the last financial year.
3. <a href="https://www.smartcompany.com.au/growth/30719-byron-bay-cookie-s--13-million-business-crumbles-into-administration">Byron Bay Cookies</a>
In March, the manufacturing arm of Byron Bay Cookies went into voluntary administration following a court notice from the ATO regarding tax debts. The 23-year-old Australian gourmet biscuit producer turned over $13 million in 2012, boasting partnerships with a number of major airlines. In July, the company was <a href="https://www.smartcompany.com.au/growth/economy/32679-byron-bay-cookie-company-bought-by-rinoldi-pasta">rescued by pasta makers Rinoldi Pasta</a>.
4. <a href="https://www.smartcompany.com.au/growth/31608-high-end-blinds-manufacturer-turning-over--4-5-million-collapses-into-administration">Lidi Group</a>
Melbourne-based high end blinds manufacturer Lidi Group collapsed in May, amid challenges in the building industry. The business was founded in 1976 and manufactured blinds for commercial and residential properties.
5. <a href="https://www.smartcompany.com.au/growth/economy/33222-king-of-knives-retail-chain-with-60-stores-collapses-into-administration-after-25-years-in-business">King of Knives</a>
Kitchenware chain King of Knives, which has operated for 25 years with 60 locations across Australia and New Zealand, went into administration in August. The business was founded in 1987 and continued to operate throughout the administration.
6. <a href="https://www.smartcompany.com.au/growth/economy/31740-retail-on-its-knees-as-iconic-70-year-old-department-store-collapses">Trims</a>
Adelaide department store Trims went into administration after 76 years of business. It was established in 1937 by Alf and John Trim and originally sold reconditioned clothing and hired out clothing, including formal wear. The family-owned clothing store had 25 staff at the time of administration, and was forced into administration after a downturn in retail left it unable to pay its suppliers, according to reports inAdelaide Now.
7. <a href="https://www.smartcompany.com.au/growth/31014-harrison-group-chain-of-14-pharmacies-and-six-medical-centres-collapses">The Harrison Group</a>
The Harrison Group, comprising 14 pharmacies and six medical centres, went into receivership in March. The group includes Harrison's Health and Beauty Pharmacies. It has pharmacies across New South Wales, Queensland, South Australia and Northern Territory, as well as a number of medical centres and a head office in Sydney.
8. <a href="https://www.smartcompany.com.au/growth/economy/31176-big-losses-from-hospital-projects-cause-nsw-construction-company-to-collapse">National Buildplan</a>
A regional family-owned construction company in New South Wales responsible for redeveloping regional hospitals across Australia collapsed in April putting 180 jobs at risk. At the time of administration, it was revealed that some of the companies 50 active projects were unprofitable, with four major projects taken resulting in substantial financial losses for the company.
9. <a href="https://www.smartcompany.com.au/growth/30467-printing-company-once-valued-at--320-million-goes-under--leaving-1-000-jobs-at-risk">Geon Group</a>
Commercial printing company Geon Group went into receivership in February, leaving the jobs of its 1000 employees at risk. The group created print catalogues and marketing material as well as mail out campaigns.
10. <a href="https://www.smartcompany.com.au/growth/economy/32568-discount-book-chain-turning-over--21-million-goes-under-after-director-s-death">Allbooks4less.com.au</a>
Two years after the local book industry was rocked by the collapse of Borders and Angus &amp; Robertson, discount book chain Allbooks4less.com.au went down. The business was turning over about $21 million a year with a retail network of 30 stores in four states. However, a variety of factors reportedly influenced the decision to enter administration – including the death of company director Paul Alford.
11. <a href="https://www.smartcompany.com.au/growth/economy/31918-victorian-winery-group-collapses-as-wine-industry-continues-to-get-crushed">Mornington Winery Group</a>
Victorian-based Mornington Winery Group collapsed in May as the wine industry battled against a "double whammy" of high exchange rates and a consolidated retail sector. The company sought expressions of interest for the winery, cellar door and restaurant with seating capacity for 110 people. Brands in the group include Dromana Estate, Mornington Estate, 'i' Range and David Traeger.
12. <a href="https://www.smartcompany.com.au/growth/economy/33698-stop-the-press-printing-business-with--8-million-in-turnover-in-administration">Print National</a>
Printing company Print National, with 35 staff and a turnover of around $8 million per year went into receivership in September. The NSW-based business offered offset and digital printing, binding, distribution and in-house design.
13. <a href="https://www.smartcompany.com.au/legal/34320-outdoor-apparel-retailer-snowgum-australia-collapses-after-89-years-in-business">Snowgum</a>
Outdoor apparel retailer Snowgum Australia collapsed in October, with a sale the core focus of the administration. The business, which had operated for 89 years, had an estimated debt to unsecured creditors of up to $2.3 million.
14. <a href="https://www.smartcompany.com.au/technology/information-technology/31763-computer-crash-it-services-company-collapses-with--3-8-million-debt">ICT</a>
Perth-based information and communication services firm ICT collapsed in May, owing unsecured creditors $3.8 million. The branches of the group employed approximately 80 people, with 55 jobs lost at the time of the administration.
15. <a href="https://www.smartcompany.com.au/growth/economy/33837-27-year-old-award-winning-sheet-metal-family-business-collapses">Advance Metal Products</a>
NSW-based sheet metal manufacturing family business Advanced Metal Products went into liquidation in late September. The business also trades under the names Bosco Storage Solutions and Boscotek, and has two engineering and manufacturing facilities and approximately 150 employees. The 27-year-old company has since been acquired by Wilson &amp; Gilkes.
16. <a href="https://www.smartcompany.com.au/growth/30519-family-owned-printing-company-turning-over--17-4-million-collapses-into-administration">Vega Colour Group</a>
Just days after Geon Group went into administration, family-owned printing company Vega Colour Group, worth 17.4 million collapsed. It was reported the company turned over $17.4 million a year. It was founded in 1960 and operated out of a factory and office space larger than 5000 square metres.
17. <a href="https://www.smartcompany.com.au/growth/economy/33854-tamar-valley-dairy-goes-under-following-turbulent-times">Tamar Valley Dairy</a>
Tasmanian-based yoghurt producer Tamar Valley Dairy collapsed in late September, with administrators pointing to slower sales and pressure on margins as causes. The 17-year-old business was established in 1996 near Launceston and has 170 employees. In November it was rescued when acquired by dairy giant <a href="https://www.smartcompany.com.au/finance/investment/34471-fonterra-saves-tamar-valley-diary-from-administration">Fonterra Australia</a>.
18. <a href="https://www.smartcompany.com.au/growth/economy/31302-australasian-telco-with--5-4-million-in-turnover-collapses">Infratel Networks</a>
Telecommunications company Infratel Networks collapsed in April, despite turning over $5.4 million in the 2012 financial year. At the time, a legal battle with a sub-contractor and debts owed to the Australian Taxation Office were reported as the likely causes. A spokesperson for the administrators told SmartCompany unsecured creditors were owed $3.8 million at the time.
19. <a href="https://www.smartcompany.com.au/growth/economy/31651-iconic-fashion-brand-lisa-ho-collapses-into-administration-after-failed-ipo">Lisa Ho</a>
One of Australia’s most prominent fashion brands collapsed this year leaving the fashion industry mourning. The company recorded $13.05 million in revenue in 2012 but made a loss of $2.3 million, which the business attributed to "one-off issues". The administration was also plagued <a href="https://www.smartcompany.com.au/growth/33007-phoenix--issue-rises-to-plague-lisa-ho-following-the-brand-s-collapse">by talk of phoenix trading</a> after the designer bought the intellectual property rights to her name and the brand.
20. <a href="https://www.smartcompany.com.au/finance/cashflow/34836-workout-world-in-administration-but-name-living-on-with-super-retail-group">Workout World</a>
Fitness equipment business Workout World collapsed into administration in December, less than a month after finalising a deal to sell its key assets to Super Retail Group. Workout World had fitness equipment showrooms across Australia, and in late November this year it sold its brand name, intellectual property, inventory and store assets to retail giant Super Retail Group. Super Retail Group announced at the time that Workout World would become part of the group's sports retailing division.
This article first appeared on <a target="_parent" href="https://www.SmartCompany.com.au">SmartCompany.</a>
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The 20 most notable collapses of 2013

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Unit owners should continue to be vigilant and monitor contractors closely during the holiday season to avoid being left in the lurch, Archers Body Corporate Management advises.
Archers notes that property owners often go away during the busy holiday season. With no presence in the building, it can be difficult to ensure contractors are completing their jobs, which can lead to unnecessary conflict and stress.
Archers Body Corporate Management managing director Colin Archer advised that bodies corporate need to carefully select licensed contractors and project managers over the festive season, and follow up on the work that they do.
“If you’re not going to be present, it’s important to have a dedicated project manager on site that is responsible for keeping track of when work should be completed,” Archer said.
“Ideally this will be someone who has a good working relationship with the complex and can monitor the actions of contractors, keep records of project goals, day-to-day activities and agreed timeframes,” he added.
For peace of mind for both contractors and homeowners, Archer recommends ensuring there is always someone to take over when contractors and employees require time off. Additionally, project estimates should take public holidays into account, to make the transition into the festive season an easy one.
Archer has listed seven tips for managing contractors during the festive period:
1. Book in early and ensure works are scheduled in early-mid December or a time when you aren’t going away, so you can be around to supervise
2. If you aren’t going to be around, ensure a trusted contact is available to monitor progress
3. Obtain emergency contact details for contractors in case you need to get in touch
4. Make sure you get a schedule of the times contractors shut down
5. Always ask what the call out rates are during the holiday season and on public holidays to avoid any nasty surprises
6. Avoid calling contractors out during holiday periods unless it’s an emergency to avoid paying excess fees
7. In case of an emergency, ensure your building has an up-to-date emergency plan so tenants know where to turn.
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Unit owners, manage contractors closely this festive season

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Gosh, it’s that busy time of the year again. Everyone’s in a rush and there’s so much to do: get presents for the kids, book the annual holiday and plan for Christmas dinner.
Then, you have to move out of your rental property and find a new one to lease before the kids start school in January.
"What? Haven’t you found a place for us yet?" asks your better half incredulously. "You were going to do that weeks ago! What are we going to do now?"
Gee, better get cracking. It’s going to be busy out there:
Rob Exell, regional manager of the publicly-listed Run Property Group, which has 11,000 properties under management in Victoria, said the rush was always on pre-Christmas and early January as relocating tenants tried to get their children enrolled in new schools.
This is especially relevant as many – even primary schools – have catchment zones where their pupils must live or they can’t go there.
"So you can see how important it is for them to get settled in the right location," he said.
Excell says there are "quite a lot of properties available for rent at the moment, with a good turnover. We’ve had a lot of applications over the past six months and there is a good supply."
He pointed to a recent Run survey which found 197 two-bedroom properties for rent in the St Kilda and St Kilda East markets alone. They were seeking rent of $380-$450 a week.
"At the moment I am advising prospective landlords – often older couples who may be downsizing –to smarten up their homes in order to attract tenants. They should be recarpeting, repainting and renewing all aspects of their homes in order to set a point of difference.
"We are finding that there are so many new or well-done-up properties available that tenants are asking why they should rent old properties when they can rent new ones."
Excell said a frequent "sticking point" was an older property’s presentation – or lack of it. "Spending $7,000 or $8,000 on renovations is money well spent. From the landlord’s view it may not be a reasonable proposition, but the potential loss in rent would cost half that amount anyway."
Scott McIlroy, director of Hocking Stuart’s inner-north office covering the popular rental areas of Brunswick, Carlton and Fitzroy, said leasing inquiries were strong until mid-December before fading until mid-January. "We get people wanting to be settled by Christmas so they can relax and before they go on holidays, but people are looking all the time – they have their reasons.
"Actually, February is far busier than January because of university enrolments and early work starts, and of course, being on the northern side of town we are usually frantic because we are close to a major hospital, the university and access to the airport."
While the rush in the lead up to Christmas affects both vendors selling property and tenants seeking leases, there is often a major difference in their attitudes to property. "Renting is totally different to selling," McIlroy said.
"Tenants tend to be more picky than property buyers, who don’t mind overlooking certain shortcomings as they know it will be theirs soon. On the other hand, tenants have lots of options and they know they can pass on properties not up to their standard. They won’t pay extra."
McIlroy’s office – with 2,300 properties on its rent roll – is a "good litmus test doing 400-500 new rentals a year", he said.
His tip to prospective landlords in the lead up to Christmas is to present their properties as best they can. "A lick of paint and perhaps some new carpet will make a lot of difference to the new tenant," he said. "And, with online listings, a house looks so much better with good quality furniture – even if it’s hired for the occasion."
On-screen, even <a target="_blank" href="https://www.propertyobserver.com.au/news/does-virtual-furniture-assist-property-marketing-campaigns/2013110566105">virtual furniture can bring a room to life</a> where there were only drab painted walls.
Alex Musman, of Thomson Real Estate Murrumbeena, said the feeling of an approaching Christmas "deadline" for renters – and landlords - was exacerbated by the looming holiday period. "We are closed over Christmas and so there’s no ability for us to let a property then," he said. "I feel the pressure because if we can’t get a suitable tenant in before the break then the landlord will be losing money.
"We know when a property’s coming up for rent in this busy period so we really push it."
In what he describes as a ‘tenants’ market’, Musman said Thomson had 60-70 properties coming up for rental and it was "very important that we get them let".
He said it "seems strange" that there are so many rental vacancies on the books but a lack of confidence in the jobs market - and the availability of so many other properties - may have enticed tenants to seek new digs.
Whether you’re a landlord or tenant, the pre-Christmas property rush can be daunting. To succeed in finding a tenant, or a house to rent, start spreading the message to as many people as possible. Use real estate search engines Nestoria, Flatmates, or Gumtree as well as the more established realestate.com.au or domain.com.au.
But don’t stop there: By putting eye-catching flyers in neighbours’ letterboxes, or handwritten notices saying ‘Tenant wanted’ or ‘House wanted’ and your details on shop windows, or the supermarket notice board, you can achieve results.
So, what’s stopping you? Get onto it. Christmas is nearly here!
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
 
 
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