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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RP Data compares the number of new residential listings and total listings on a weekly basis as they help to provide a rounded view of the market. From the perspective of many, the volume of sales can be more important than the price of those sales.
The past two years saw a very low volume of residential sales in Melbourne which is a reflection of conservative decision-making by consumers who, as the saying goes, ‘preferred to save rather than spend.’
There is no doubt that this year, the market has picked up but there is a long way to go. The most recent data shows that there are 16.7% fewer overall homes for sale in Melbourne than 12 months ago. Given that the volume of new listings is up by 1%, this is a sign that older stock is being cleared and the property market is improving, but only moderately.
Victoria-wide, the picture is not as strong with overall listings only being lower by 10% and new listings down by 1.7%. It is often the case that the regional market moves more slowly and is less volatile that the metropolitan and that is the current case.
In stark contrast, the residential market in Sydney is moving homes very rapidly with total listings down 26.3% and new listings up only 4%. Demand is clearly very strong in the Sydney market right now.
 
<hr>
 Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
 
 
 
 
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rlarocca-zWhvjay44N

No doubt Melbourne market has picked up, but nothing like Sydney

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Property Observer recently spoke to Feng shui master Yu Gui Feng for tips on making your home feng shui-friendly. He told us that the feng shui elements for commercial properties are quite different.
There are certain elements associated with feng shui – wood, fire, earth metal, and water. Each of them carries a different energy that could be beneficial or harmful, depending on the surrounding energy of the property and its owners.
“For residential properties, you want to built it on flat ground or on the higher side of the road. But for commercial property, we don’t like it to be on top of a hill. We like it to be somewhere on the lower side of the road, or near the bottom of the landscape, because that’s where it can accumulate a lot of money energy,” he said.
He went on to explain that feng shui, literally translated, means “wind” and “water” in Mandarin. Water symbolises prosperity.
“Human bodies are made up of 70% water. A commercial property needs customers. Water energy flows downhill. That’s why a shop or a commercial building should be on the lower side of a road,” he said.
For shops, he advises that there is no “ideal” orientation. However, certain elements need to be closely aligned with the product.
“For example, if you are in the food industry, the prime energy is earth energy. A good colour for earth energy is a yellowish colour. Look at the world’s largest restaurant chain, McDonald’s. Its dominant colour is yellow, and resonate’s with the industry’s energy,” he said.
“For a commercial property, we also need to look at the logo, the business name, how many letters, the logo’s colours, and signage. Of course the internal layout and design matters too,” he added. 
Good layouts for shops include rectangular and square shapes. Ideally, the front entrance should be narrower than the back, like a bottle. 
“This is to accumulate money energy. Money energy goes in every busy shop, in one way or another,” he said.
He also noted that commercial property owners should avoid purchasing properties where the front and back doors directly face each other.
“It is very hard to make a sound investment with this type of property,” Master Feng said.
Additionally, a commercial building’s surroundings is very important. If there are any buildings in its vicinity that have sharp corners and reflect light, that could cause problems for your business.
Similar to a residential property, the front entrance of a commercial building is important.
“It can influence the entire building’s money return. You need to look at the landscape and surrounding buildings to create an appropriate entrance. Once you walk into the entrance of a commercial property, the entrance or lobby area needs to have two conditions: One is light. One is space,” he said.
He added that buildings with a reception area should place the reception as close to the front entrance as possible.
As for colour schemes, he suggests avoiding the colour black. Exceptions to the rule include nightclubs, bottle shops, and adult shops.
Lastly, Master Feng said that feng shui is only one-third of the overall plan to turn a business around.
“It’s about the right time, right person, right place,” he said. “These include opportunities, your personal effort, the product and the services. The energy of the place, that has got to do with feng shui.”
<a href="mailto:dleow@propertyobserver.com.au" target="_blank">dleow@propertyobserver.com.au</a>
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dleow-BGaNPbHWyK

Feng shui tips for your commercial property

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North, south, east, west and all the variations in between. Real estate advertisements regularly highlight a property’s aspect and light-filled interiors in order to attract buyers. In Australia, properties facing north are considered highly desirable due to the amount of direct sunlight received throughout the day. But how should properties with other aspects be considered? 

“In some respects, the ‘north-facing garden’ has become shorthand for an ideally sunlit property,” says Monique Wakelin, director of Wakelin Property Advisory in an article published recently in the AFR.

But Wakelin noted “what really matters is how the design of a property is affected by the direction it faces”.

“When considering aspect it’s not just a matter of north, south, east or west, but what this means for a property given its design, and how this plays out it terms of light,” she said adding that shying away from anything other than north-facing could mean missing out on a better investment opportunity.

[smartcode_project:default project_id=2929]

Our property commentators Jonathan Chancellor and Margie Blok discuss concerns about aspect and light which vendors and buyers should heed when buying and selling properties no matter which direction they face.

HE SAID:<img alt="jc-silhouette-5" height="225" src="/images/stories/2013/09/06/jc-silhouette-5.jpg" style="float: right;" width="150">

Keys factors vendors should consider:

* High capital growth is just as important as a perfect north aspect. Well located properties, and those with water views, usually increase in value even if the aspect is east, west or south.

* A well-designed house or beautifully presented apartment should reap financial rewards because buyers often pay a premium for quality renovations and good design.

* Installing skylights is a practical solution for hallways and rooms lacking sunlight  - funneling sunshine into gloomy spaces can totally transform the ambience of a house.

* Installing mirror panels or hanging mirrors to reflect light into dark corners is a clever (and inexpensive) solution often used by interior designers.

* Natural light is attractive to buyers, but designer interior lighting is too - it allows you to alter the mood of a room. Before listing your property consider seeking professional advice about installing decorative and ambient lighting.

*Don’t overlook outdoor and garden lighting which can enhance the beauty of your property at night.

* If your house has windows looking directly into a neighbour’s home consider replacing clear glass panes with opaque glass to provide privacy but also let in the same amount of light.

* Little or no sunlight can be grounds for rejecting a property by home buyers as well as investors, and can considerably reduce a property’s value, especially in high rise apartment blocks in increasingly crowded CBDs.

<img alt="mb-silhouette-4" height="225" src="/images/stories/2013/09/06/mb-silhouette-4.jpg" style="float: left;" width="150">SHE SAID:

Key factors buyers should heed:

* Check for brightness and sunlight by turning off electric lights to gauge how much natural light fills the rooms of a house or apartment.

* Too much sunshine can be a problem – you don’t want to have curtains drawn and air-conditioning running for hours on end in a west or north-west facing property that cops vast amounts of direct sunlight for most of the day.

* Apartments facing south or west should not be ruled out if these properties have water views or are set in a premium location. These apartments could hold better capital growth potential (and/or higher rental yield) than a north-facing apartment without a view or situated in a less desirable area.

* Be sure to check out a property at different times of the day – estate agents often schedule inspection times for the 30 to 45 minutes when a house or apartment is filled with maximum natural light.

* Check the estate agent’s spiel about a property’s aspect – sometimes their advertisements will emphasise a north-facing aspect but not make it clear which part of the house faces north. It could be the front bedrooms have a north aspect and the living areas at the back of the house, as well as the garden, are facing south. It’s important to check for yourself how a house is sited on the block, so take the iphone compass.

* Bedrooms are for sleeping, so it’s not important for these to be sunny – in fact, some people prefer bedrooms without a north aspect. But best check for mould and dampness problems in places where no light reaches.

[smartcode_project:default project_id=29048]

* Don’t get carried away with beautiful interior décor and then fall in love with a property because of what it looks like – you need to assess its relationship with sunshine and natural light.

* Both home buyers and investors should check the floor plan and consider orientation of various rooms in houses and apartments – these can be just as important as aspect.
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jchancellor-FAypfDUnLy

North, south, east or west: How can investors make the most of house aspect?

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Australia’s baby boomers and retirees will have a little less to worry about this Christmas, as Australia’s superannuation funds are on track to achieve their highest returns since the global financial crisis.
According to research released yesterday from independent agency SuperRatings, superannuation funds had solid returns in October. The agency predicts when the November and December results are added in, the average Australian superannuation balance will have grown 14.1% over the calendar year.
Balanced funds gained, on average, 1.8% in October. Since July, superannuation funds have risen on average 6.9%, and since October 2012 have risen 16.9%.
The big driver of this is shares, with both Australian and international share markets enjoying a bull run in recent months.
But returns across all asset classes were positive in October – even cash options returned 0.2%.
Last year, superannuation returns on balanced funds rose an average of 11.7%. That was an <a target="_blank" href="https://www.smartcompany.com.au/growth/economy/30460-what-the-big-mac-index-says-about-the-aussie-dollar-five-things-you-need-to-know-about-the-economy">unusually good year</a>. Superannuation balances declined 1.9% in 2011, rose 4.6% in 2010, and 12.9% in 2009 after falling 19.7% in 2008.
Over the past 10 years, superannuation funds have returned 7% per annum on average – just less than half of this year’s expected figure.
The past few years have been a rollercoaster ride for investors, with the bull market of the early 2000s spectacularly crashing in 2008. But SuperRatings founder Jeff Bresnahan says superannuation investors still ended up ahead.
“Australian superannuation funds have continued to deliver returns of 7% per annum, some 4% above prevailing inflation,” he says. “For members who have some time until retirement, this history of longer term performance should provide comfort that fund’s continue to meet their long term objectives.
“For members nearing retirement, however … the actual risk achieved in the lead up to retirement takes on greater significance. The most important planning decision for older members is to ensure that their strategy reflects both their goals and capacity to bear risk.”
A hypothetical $100,000 balance invested in a balanced fund in 2003 would now be worth $195,265, a 95% gain over 10 years. It would have risen rapidly until 2007, before starkly declining to just $124,627 in 2009 before making up the lost ground and then some in the years to 2013.

<hr>
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany</a>.
 
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mrobin-TVRYiru7si

For second year running super funds will break post-GFC record: SuperRatings

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Last week was the first real hiccup we’ve seen in the top end inner Melbourne auction market this year. With clearance rates in the 60s, and at a very low 1.3 bidders per auction, the market sat up and took notice.
What did this mean?
Was last week the start of a big slump like the Pies had at the end of the season, or was it just an off week like Hawthorn had on the way to another premiership?
In our opinion, last week was the start of something, but of neither of the above. In our opinion it was the start of a more splintered market. Almost half the auctions we covered last week had no bidders and this week again there were a significant number of the top end properties with no bidders. 
Two reasons for this splintering market:
<ol>
<li>
The incredible amount of choice out there at the moment means that unless a home is an A-grader or a well-priced B-grader, it is no longer an automatic sell. This is creating an easing of demand per property. Why? Right now in late spring this easing of demand per property is due mainly to the sheer volume of what’s on offer. This weekend was a big Saturday (100+ auctions) and there’ll be another big Saturday next weekend  (100+ auctions), and then we’re up for a super Saturday (150+ auctions) on November 30.
</li>
<li>
Price – Some vendors are getting ahead of themselves. Nothing wrong with that. Except that in this market they may well be punished by no sale, whereas in early spring that was not happening as often.
</li>
</ol>
Right now, just as a buyer stretching to buy a property has to ask themselves: Am I buying a price or am I buying the property, the market is asking sellers the same sort of question: are you selling a property or are you selling a price? That’s a big difference in strategies!
But, and it’s a very big but: When the property has the right 'three Ps' – price, property and position – how sweet the market is for sellers. That’s the splintering effect.
Let’s look at two sales in Toorak to prove a point.
Both were land sales. We had tentative interest in both at around the quote level, but, as we told our clients, we knew we were never going to be serious contenders. While the homes may have been quoted with an eye on the reserves, they were not quoted with an eye on the expected final result.
So while both went miles over the reserve, they didn’t go miles above the professional estimated buying range.
<a href="https://www.kayburton.com.au/property/11-tashinny-road-toorak" target="_blank">11 Tashinny Road, Toorak</a> (pictured below) – This was 511 square metres of north-facing rear land with two period apartments that needed serious renovation.  The quote was around $1.7 million, but the agents (Scott Patterson and Michael Armstrong) expected more and said so. We put the range at $2.1 million to $2.5 million, expecting it to go in the low $2 million region. It was declared ‘on the market’ fairly at $1.85 million, and with six bidders it pushed through to $2,395,000. This price put land at $4,700 per square metre, strong for that little pocket but normal for other land nearby, such as the nearby Dunraven precinct.
{yoogallery src=[images/stories/2013/11/21/too1]}
 
<a href="https://www.williamsbatters.com.au/?pageCall=property&amp;propertyID=2494642&amp;realestate=6_Verdant_Avenue_TOORAK_VIC_3142&amp;propertyStatus=SoldRented" target="_blank">6 Verdant Avenue, Toorak</a> (Philippe Batters) – On 836 square metres, this was one of the best mid-sized Toorak blocks offered in a long time (pictured below). The $3 million plus quote was courageous – with two street frontages and wide and Verdant Avenue. We thought it might go for perhaps around $4 million, or maybe more, so the final result of $4,445,000 after four bidders had fought it out was not a complete shock but it was still very strong. This says great land down near the Royal South Yarra Tennis courts is worth $5,300 per square metre.
{yoogallery src=[images/stories/2013/11/21/too2]}
In two places not that far apart you had 10 bidders (plus those that didn’t speak up) putting the price of land – no house – at circa $5,000 square metre. So, yes, there is still a very strong market for properties with the right 'Ps'.
All the 'Ps' above were good – position, property and price. The smart agents got these A-graders on the market quickly and then let nature take its course. It’s a very different story from a number of pass-ins where the agents and sellers wanted a price that the market did not support.
This is what is happening out there since Melbourne Cup – buyers are more discerning and if it’s not right they are moving on. This is a change from a month ago.
That is the splintering effect we are talking about.
Now is this smart for buyers? Let’s wait and see. Our thoughts as buyer agents is that if you as a buyer see the right one, you should consider going for it (within reason).  Because there is no guarantee  that we’ll still see this amount of choice next year – even if many of today’s underbidders are assuming that will be the case.
 
<hr>
 Mal James is principal of<a title="James Buyer Advocates" href="https://www.jamesbuyeradvocates.com.au/" target="_blank" rel="nofollow"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.</body></html>

maljames-vHwm28JUAa

Melbourne top end market splintering under weight of stock

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The automotive, manufacturing, printing and retail sectors are being impacted most severely by tough economic conditions, according to some of Australia’s leading lenders.
A Grant Thornton survey of business finance lenders from 22 financial institutions Australia-wide revealed prolonged slow growth in Australia, outside of mining, was the primary difficulty impacting businesses.
Some 84% of respondents identified slow growth as having the most impact on businesses, while 77% also reported the slowdown in China’s growth as a key factor and 69% said businesses were being hurt by the Australian dollar exchange rate.
Grant Thornton national head of recovery and reorganisation Matt Byrnes said manufacturing and automotive businesses are under pressure from high cost bases and the challenge of tapping into export markets.
“We always encourage businesses in these sectors to have an export arm, as well as a local market, but the high Australian dollar has made exporting difficult,” he says.
“We’re also going to see a continuing of tough times for printing. I think the volume of printing is falling in a real sense and the cost to compete in that industry is also becoming higher.”
Byrnes says in retail it’s the top-end retailers which are doing it tough, as well as the single stores on high streets.
“We’re seeing a lot of stress thanks to high property values,” he says.
Retailers such as <a href="https://www.smartcompany.com.au/growth/32260-lisa-ho-folds--as-administrators-are-unable-to-find-a-buyer-for-the-iconic-brand">Lisa Ho</a> and <a href="https://www.smartcompany.com.au/growth/economy/32958-family-owned-menswear-business-founded-in-1936-collapses-with--6-million-turnover">Blowes Menswear</a> have collapsed this year.
Of the respondents, 30% expected default levels to increase in the next 12 months, and 23% expected corporate failures to increase. Sixty-three per cent of lenders expected the number of insolvencies to remain the same.
As a whole, the report revealed banks are more likely to work with businesses to try and overcome financial difficulties, than initiate formal insolvency.
The respondents said the key to success in difficult trading conditions is good management.
Ninety-one per cent of respondents said the highest contribution to financial distress was poor management decisions and 86% found poor financial controls also contributed to the failure of a business.
Byrnes says a strong management team ensures the right structures are in place within a business, employees are in the right roles and makes sure financial reports are given to management in a timely, regular manner.
“In many businesses which are struggling, they do not have these characteristics. Poor management and poor systems leads to poor decisions,” he says.
Other major reasons for businesses encountering financial distress included issues managing working capital, decline in revenues, an inappropriate business model and rising costs.
More than 50% of respondents’ borrowers had attempted to solve their business’s financial woes by implementing cost cutting programmes and reducing staff costs. But Byrnes says this isn’t necessarily the best strategy.
“The default position is to look internally and cut costs, and we’re not saying they shouldn’t, but there are opportunities out there for businesses. If they’re too internally focused they may miss out on these opportunities,” he says.
“For example in manufacturing, there are lots of opportunities for businesses to consolidate. The market is under pressure, but there are good businesses still operating, while others won’t survive.”
Other strategies which weren’t often considered included making more wholesales changes such as realignment of strategy, focusing on sales and marketing and implementing diversification or outsourcing strategies.
For businesses needing to source new debt or refinance existing debt, don’t expect it to be any easier in 2014.
The report revealed 63% of lenders thought the availability of debt would not change in the next year.
“In respect to access to equity finance there was an expectation in parts of the market that this will free up,” Byrnes says.
“But the view of the lender group is there will be no real change and it’s been tough to access finance over the past 12 months.”

<hr>
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany.</a>
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yredrup-o4Anfe78KF

Automotive, manufacturing, printing and retail sectors burdened by debt: Grant Thornton report

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Fashion brand Cotton On Mega has continued its national expansion, this time securing a lease for a three level retail premises on the Gold Coast for its new flagship store.
The new store is located in the heart of Surfers Paradise, at 29 Cavill Avenue, and is about 1,692 square metres in size.  
Savills Australia retail director Michael Di Carlo brokered the deal with colleague, Avian Weber, associate director at Savills Gold Coast, 
The lease is for 10 year lease and the rent is believed to be $700 a square metre over the whole building. 
Cotton On Mega is due to open the new flagship store in early to mid-2014.
Mr Di Carlo said Savills Retail had advised the lessor, a Melbourne-based investor, on the purchase of the property with vacant possession in 2012 and that the new lease would deliver the landlord in excess of a 10% return and an increase in value of over 25% of the initial purchase price.
Mr Weber added that the Cotton On Mega deal represented the largest retail lease negotiated along Cavill Avenue in the last decade.
<a href="mailto:news@propertyobserver.com.au" target="_blank"> </a><a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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kjiminez-eaYKfU7qd2

Cotton On Mega continues expansion with Gold Coast flagship site lease

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Strengthening investor sentiment, increasing tenant demand and more favourable fiscal conditions are expected to position Sydney's industrial market for a rebound in the year ahead after 12 months of slow growth. 
According to CBRE’s Australian Industrial MarketView report for the third quarter, despite a contraction in industrial employment over the past year, total imports - measured in 20 foot equivalent unit (TEU)-  that came through the Port of Botany increased in July and August and over the 12 months to September rose  5.5%.
And while sentiment strengthened across the metropolitan industrial sector during the quarter, Sydney remained "one of the most in-demand" markets nationally. 
CBRE Senior Director of NSW Industrial Jason Edge said “while investors remain attracted to long term lease covenants and lower risk adjusted returns, they are becoming more accepting of shorter lease terms assuming the core property fundamentals exist".
“As a result of this, the market is tightly held, with owners holding onto assets in hope that yields will tighten further.” 
B-Grade warehouse yields remained steady at between 8.50% and 11.00%, while A-Grade warehouse yields tightened by 25 basis points to 7.50% and 10.50%, said the report.
Sydney industrial land values remained relatively steady over the quarter, with fully serviced 0.25ha lots averaging $580 per square metre and 1.6ha lots hovering at $448 per square metre. 
CBRE is not expecting land values to experience any significant growth until a market shift occurs. 
Specifically, CBRE senior research manager of industrial markets Luke Dixon said “capital value growth is unlikely until the availability of land declines or market demand changes".
Meanwhile, stronger construction levels over the quarter helped boost the industrial supply pipeline, with a total of 513,603 square metres due to for completion by the end of 2013, gaining pace in 2014 and 2015, the CBRE report said.
Rental growth remained flat over the quarter for prime and secondary grade stock.
<a href="mailto:news@propertyobserver.com.au" target="_blank"> </a><a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Sydney industrial market set to rebound in next 12 months: CBRE

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A battle royale has erupted over the $4 billion Commonwealth Property Office Fund after GPT surprised the market yesterday with $3 billion rival takeover offer.
The offer gazumps the Dexus consortium takeover offer by about $160 million, which is valued at about $2.84 billion.
GPT is offering $O.75325 in cash and 0.141 GPT security for every Commonwealth Property Office Fund (CPA) unit. Based on GPT's closing price on 18 November, the offer values CPA units at $1.272. 
The Dexus and Canadian Pension Fund offer is valued at $1.219 per unit. 
However, Credit Suisse analysts pointed out today that excluding CPA's 1H2014 dividend of 3.32c, the adjusted price is actually $1.24. 
The analysts also believe that it will be difficult for the Dexus consortium to match the GPT offer.  One reason was based on its estimates that "if DXS were to match GPT’s offer by increasing the cash offer by 2.7¢ to 73.7¢, implying a total bid price of $1.24, this would see EPS accretion (FY15) reduce to ~1.3–1.8% as compared to the guidance of 2–2.5%".
On that basis, net tangible asset dilution would increase from 1.9% to 2.7%, they said.  "As a result, we see limited scope for DXS-CPPIB to justify any further premium".
"We also believe the increased offer from GPT potentially provides DXS with additional incentive to walk away as it would allow DXS to crystalise a 12.4% return on its entry price of $1.13 for its 14.9% stake in CPA.”  
<a href="mailto:news@propertyobserver.com.au" target="_blank"> </a><a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Battle royale erupts as GPT launch surprise $3 billion takeover bid for Commonwealth Property Office Fund

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Building codes and the property industry have changed over the years to create safer and more comfortable living standards. The introduction of new and improved materials, and having to deal with population growth, has impacted the building codes and regulations.
The question that needs to be asked is: Are new changes in legislation with respect to material and methods of building enough to maintain a safe living environment?
Even with all the changes over the last two decades, there is one area which has been overlooked by many of the policy makers and policies. This being the area of safety.  I refer to safety issues in and around buildings that were constructed before new regulations were implemented, and changes made to the building standards from the Building Code of Australia (BCA). These standards still fall short, even in and around newly built apartment blocks.
An important issue is the required balcony wall/balustrade height. Years ago it may have been OK to make the minimum height 850mm to ensure safety and protection. Now the current standard is 1000mm.
{qtube vid:=LkFdiuxfqHI&amp;feature=youtu.be}
So what of the older styled buildings that would not comply with the new BCA standards? The law does not require older buildings that follow past standards to comply with current legislation. Another question that must be asked is: Does the new height requirement do enough to prevent injury and fatalities? Many industry experts would say no, the height is still too low.
We find that there is a shift in the demographics of unit occupants. Current trends show that more and more small families are living in units, as houses are just not affordable for some. Houses are beyond the reach of many tenants, as well as owner occupiers. As a result, we have more young children playing and spending time on these balconies.
To cope with these shifts and the common sense that old standards were too low, we now have the railings at 1000mm high but again, what is being done with older unit blocks? We have grave concerns about children falling out windows and changes are being adopted to make unit-living safer in this regard.
Now it’s time we looked deeper into the issues around balconies. Children can easily climb on a chair, a box or other objects to lean over the balcony out of curiosity. Not much assistance is needed in some of the older units as the balcony wall heights don’t require much more than standing on tip toes for a child to lean over the edge.
As the push toward affordable living for young and small families is directed to unit accommodation, local and state governments need to begin to take proactive measures and encourage owners’ corporations to look carefully into adopting measures to ensure more care is taken. I am not asking for a retrospective change to the building code, but rather a proactive adoption of a common sense approach toward safer living standards.
It is frightening to see and inspect older units where there is so much that can go wrong, and in particular around safety issues that involve balconies. All because when the buildings were erected, they complied with the then standards.
Don’t wait for a catastrophe to occur in your unit complex before implementing change. Although you and the strata manager may believe you are not responsible now, make the change, as injury of a tenant will impact your bottom line. A unit owner is impacted by what happens in the entire block. Encourage your strata manager to address these issues before your complex becomes the interest of the nation due to unsatisfactory safety issues. An extension of the balcony height can be both affordable and aesthetically pleasing, all while keeping with the nature of the building.

<hr>
Edwin Almeida is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
 
 
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