For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Adelaide

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Adelaide United have secured a sponsorship deal with the Adelaide-based Chinese property developer Datong. 
It's a two-year sleeve sponsorship of the A-League side.
The Reds will boost their Asian profile by playing games in China, Adelaide United’s chairman, Greg Griffin, said.
“We are delighted to be the first Australian football club in a major national sporting competition to secure a major Chinese company as a significant sponsor," he said.
Datong is a major developer in China building prestigious apartments and commercial buildings exclusively in Adelaide.
Datong is chaired by Jin Liang.
From Chinese foundations in 1988, it has had a presence in Adelaide since the early 2000s, with apartment developments currently underway in both Flinders and Gouger streets with another project earmarked for Waymouth Street.
‘Da’ means large or leading, while ‘tong’ is a metaphor for a smoothened road.
Image courtesy of Football Australia. 
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jchancellor-FAypfDUnLy

Datong developer group sponsors Adelaide United

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George J Nowak, of the Charterhill Group, has filed for bankruptcy after the Federal Court in Adelaide froze his assets and those of his wife back in February.
At the time, the <a href="/news/federal-court-freezes-assets-of-charterhills-george-nowak">court had ordered the surrender of their passports, and restricted their travel outside of the country</a>, while ASIC investigated the collapse of the Charterhill Group.
The Charterhill Group specialized in assisting clients to invest in property with their SMSFs. This left nearly $6 million of super at risk.
Macks Advisory’s Peter Ivan Macks has been appointed as Nowak’s trustee, and he has advised that the bankruptcy came following an appointment of liquidators to companies within the Charterhill Group Lending Solutions International Pty Ltd and Nova Real Estate Pty Ltd.
Nowak, who lodged a statement of affairs with the trustee, listed 31 companies he was director and/or shareholder of.
The statement of affairs was signed and dated 30 June 2014, and lodged with the Debtor's Petition on the same day. The Debtor's Petition was accepted on 2 July 2014.
It is noted that unsecured creditors totals approximately $7 million. This includes a claim in his estate, brought by Nova Real Estate’s liquidators – of approximately $6 million.
Investigations are underway, but return to creditors at this stage is unlikely.
The following companies in the Charterhill Group were placed under external control in February:
•    Lending Solutions International Pty Ltd – liquidators appointed (Andrew Heard and Anthony Phillips of Heard Phillips)
•    Nova Real Estate Pty Ltd – external administrators appointed (Andrew Heard and Anthony Phillips of Heard Phillips)
•    EJ Property Developments Pty Ltd – receivers and managers appointed (Michael Basedow and Leigh Prior of Pitcher Partners)
•    Financial Wellness Pty Ltd – receivers and managers appointed (Michael Basedow and Leigh Prior of Pitcher Partners).
YOU MAY ALSO WANT TO READ
Investor update: <a href="/news/investor-update-charterhill-issues-clients-apology-after-closure">Charterhill issues clients apology after closure</a>
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jduke-EHk3XBmHkn

Charterhill's George Nowak files for bankruptcy following liquidation of companies

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A new shopping centre in Golden Grove is set to be completed in March 2015, providing an early opportunity for retailers.
Called The Stables Shopping Centre, the anchor tenant is a 3,884 square metre Woolworths supermarket, and there will be 15 speciality shops, including two kiosks, and 260 car parking spaces.
Located on the corner site at Golden Grove and Crouch Roads, it will cover 1,600 square metres of speciality shops. A Chemmart pharmacy has committed to the centre, and the other tenants are expected to be fresh food stores, take away outlets and retail services.
Knight Frank retail leasing executive Russell Iles is currently pre-leasing the centre, noting that it will provide employment opportunities for local residents and is near growing new residential estates.
“There has been strong interest with the Woolworths anchor tenancy secured, as well as national retailer Chemmart,” said Iles.
He noted that the stores and kiosks range from 40 square metres to 135 square metres.
“Since the commencement of construction, there has been strong interest from both local and national franchise chains for establishing a presence in this growing area that are looking for franchisees to take on the new stores. The centre will suit tenants ranging from fresh food and takeaway outlets through to retail services,” he said.
The shopping centre is some time in the making, with Adelaide Now reporting last year that the plans had been approved – some eight years after they were first announced. They note that childcare and a medical centre are also expected for the site.
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Golden Grove, Adelaide’s new retail precinct due for 2015 completion

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Aldi and Costco are setting up in Adelaide.
Aldi has purchased a site in Regency Park for their distribution centre to service the planned network of stores in South Australia. 
The Naweena Road distribution centre is planned as a 30,000 square metre space due for 2016 completion.
The plans are to open between 40-50 stores in the South Australian market over the long term. 
Costco have started construction on their 14,000 square metre facility at Kilburn due for 2015 completion, part of its expansion.
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Aldi and Costco heading to Adelaide

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Malcolm Royce Jones, a 52 year old from Woodville North, faces fraud charges that are worth “millions” for allegedly stealing $170,000 from his clients as their mortgage broker.
Having admitted to these dealings that occurred in September 2012 he now faces 78 charges as a result of further findings, according to Adelaide Now.
Jones appeared in the District Court in front of Judge Jack Costello and pleaded guilty to one aggravated count of dishonestly dealing with a document, as well as one charge of attempted deception, essentially enabling him to access the cash.
Prosecutor Peter Longson said further charges would be filed as more criminal conduct has been identified.
The Advertiser reported that victims “packed the court” to see him face charges.
However, his defence lawyer Andrew Moffa, said that much of the money for the victims had been secured with inquiries being made into what can be recovered prior to sentencing. It appears that the level of compensation available is forming some of the defence case.
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Adelaide mortgage broker pleads guilty to dishonest dealings, further charges to follow

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Walker Corporation has launched the second stage of its Vicinity Industrial Base in Adelaide given the<a href="https://www.vicinityindustrial.com.au" target="_blank" style="line-height: 1.3em;"> first stage of the 100 hectare estate has almost sold out</a>.
Cahill Transport, Nick Scali Furniture, Rand, Toll NQX, and Kimberly-Clark have taken space at the Direk estate since its initial 2008 launch.
<a href="https://www.realcommercial.com.au/property-land+development-sa-edinburgh-5558505" target="_blank">Vicinity</a> ranks as Adelaide’s most successful industrial subdivision in recent years. It will eventually have about 4000 workers.
 
 
 
<img src="/images/2014/06/18/industrila-estate-june-18-one.jpg" alt="">
However, Colliers International’s latest industrial report <a href="https://www.colliers.com.au/~/media/Files/Corporate/Research/Industrial/Industrial%20First%20Half%202014.ashx" target="_blank">Investors Tighten Their Grip</a> suggests the pending Holden’s Elizabeth plant closure would put pressure on Adelaide’s industrial market.
"The announcement of the Holden plants closure has come as a blow to certain parts of to the South Australian industrial market. 
"Holden and suppliers to the Holden plant account for a significant amount of employment, economic activity and occupiers in the Adelaide Outer North industrial market.
"Although this is likely to have a significant impact on the Outer North, other significant industrial markets in the West, Inner North and South are unlikely to see significant falls in occupancy. 
"Also the full effects of this closure are likely to be staggered as the plant will not cease production until 2017.
"This allows for some time for the South Australian economy to readjust and absorb some of the workforce left from the Holden closure.
"Increases in vacancy in the Outer North are likely to be most acute from 2017 onwards," the Colliers report suggested.
Overall Colliers considers demand for industrial space appears to have improved over the last six months with the level of enquiry and size of requirements improving over this time.
Logistics and transport have been the key tenant type which has driven demand over the last 12 months, supported in part to the significant increases in online retail. 
Tenants looking for prime quality industrial space over 5,000m2 have very limited choices in the Adelaide industrial market with the vacancy rate tightening in the Adelaide industrial market to 4.2%, compared to 4.4% in the second half of 2013.
Overall rentals have eased slightly over the last 12 months with a rental range of $78 per square metre in the Outer South to $143 per square metre in the Inner West.
"Incentives across the market have remained stable with prime incentives currently quoted between 10-15%.
"The outlook for the Adelaide industrial market will be challenging in the Outer North and possibly Inner North in the medium term.
"This is due to the structural change from the automotive industry to another use, which will take time. "For the other industrial regions the outlook is more positive, with demand and enquiry likely to pick up and the lack of A grade space is likely to drive more new construction to meet demand over the next 12 months to two years."
It was in 2008 when Walker Corporation announced it was partnering with prominent South Australian developers Daycorp and Badge on the industrial estate in Adelaide's northern suburbs after the investment by government in transport infrastructure in the region.
The land was being offered from $85 per square metre in 2008.
Some $88 million of Adelaide industrial property transacted during 2013, around 42% below the transactions in 2012.
The largest sale in the year was the new Rand facility which sold in August for $32.3 million by the developer, Pacific Group to Cromwell Property Trust.
Rand Refrigerated Logistics is a 10,500 square metre food distribution centre at the corner of Heaslip and Edinburgh roads. 
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Walker Corporation launches Vicinity Industrial Base, Adelaide second stage

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The standout market for me at the moment is Adelaide.
The South Australian capital has more forward momentum than most of the capital cities. Given that this has not yet translated into major price growth, it represents an opportunity for investors.
Adelaide is the only capital city which ended 2013 with sales volumes rising significantly and carried that into the early part of 2014. Some of our cities peaked, in terms of sales activity, in early or mid 2013. Some ended 2013 strongly but made a lukewarm start to 2014.
But SA is really just beginning its run.
Sales volumes are now 25% higher than they were at the start of 2013. Figures from the Australian Bureau of Statistics and Australian Property Monitor for the March quarter showed some movement in prices, but nothing substantial – around 1% for the quarter, with annual median price growth hovering around 4%.
The numbers will be larger by the end of the year. Throughout Adelaide there are suburbs with strongly rising sales activity.
What makes Adelaide so attractive for property buyers is that it’s by far the cheapest mainland capital city. You can buy two Adelaide houses for the price of one Sydney house.
The standout area of Adelaide, the one with the most forward momentum and the most compelling growth drivers, is down in the far south of the metropolitan area.
The municipality of Onkaparinga has an array of growth markets and is boosted by significant new transport infrastructure.
The new rail links to <a href="/news">Seaford</a> are now operating, with plans to further extend the line south to service areas like <a href="/news">Aldinga Beach</a> and <a href="/news">Port Willunga</a>.
At the same time, the $500 million upgrade of the Southern Expressway is under way. The two infrastructure projects together are revolutionizing transport links from the south to central Adelaide, a factor that usually supercharges property markets.
This is showing up in the sales figures. Several Onkaparinga suburbs are moving forward strongly, including Aldinga Beach, <a href="/news">Flagstaff Hill</a>, <a href="/news">Happy Valley</a>, <a href="/news">Huntfield Heights</a>, <a href="/news">Woodcroft</a>, <a href="/news">Aberfoyle Park</a>, <a href="/news">Christies Beach</a>, <a href="/news">Christie Downs</a>, <a href="/news">Port Noarlunga South</a>, Seaford and <a href="/news">Seaford Rise</a>.
Other areas of Adelaide with plenty of forward-moving markets include the municipalities of Campbelltown (a cluster of inner north-east suburbs, mostly with median house prices in the $400,000s), Holdfast Bay (bayside area including <a href="/news">Glenelg</a>) and <a href="/news">Salisbury</a> (lower end northern suburbs, with median prices mostly in the $200,000s).
There’s also steadily rising activity in the inner-city apartment market.
The hard part is convincing anyone that Adelaide and South Australia are worthy of investment. The state and its capital city lack the growth reputation that draws investors to Queensland and Western Australia. 
Even South Australians are reluctant to invest in Adelaide. Now would be a good time for an attitude adjustment.
You can contact Terry via  <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
Photo courtesy of Doug Barber/ <a href="https://creativecommons.org/licenses/by-sa/3.0/" target="_blank">Creative Commons</a>.
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terryryder-YECXbqmri2

Adelaide is the standout market and opportunity for investors

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It was a bit like a five setter, but tennis star Lleyton Hewitt has finally sold his long-vacated $3 million West Lakes house in Adelaide.
The home in Adelaide’s west had been listed through <a href="https://www.harcourts.com.au/Property/534402/SSM081008/29-Martin-Court" target="_blank">Harcourts Aqua agent Steve von der Borch</a>.
His hometown Adelaide property was first listed in November 2008 with a $2.95 million to $3.24 million price range.
It has been sold for about $2.5 million, Fairfax Media reported. The 29 Martin Court property with its 801 square metre block was bought in 2003 for $3.2 million.
It has been vacant for most of the time with Hewitt and his wife Bec having no plans to return to the luxury home. The poolside mural featured on Property Observer's recent roundup of <a href="/expert-insights/should-you-paint-over-that-artwork-before-selling-your-home-five-examples-of-murals-currently-on-the-market">homes with murals currently on the market</a>.
RP Data puts the <a href="/developments/west-lakes-sa-5021">West Lakes</a> median house price at about $610,000.<a href="/news"> </a>
The home was delisted last October when Hewitt’s parents Glynn and Cherilyn Hewitt gave permission to upload interior photos of the 29 Martin Court property as part of the marketing.
“We’re not selling a secret anymore and we can make a bit of noise about it, so we’ve put it up online and will put it up on an international website and very likely it will form part of what we’ll take to China for a property exhibition in Shanghai in December,” Mr von der Borch told the local paper.
The family live in Nassau, in the Bahamas, with their three children — Ava, Cruz and Mia. They retain homes at Kenthurst and Palm Beach in Sydney. Their St Kilda Road, Melbourne apartment on the 19th floor of Yve is quietly for sale.
The home with 700 square metres of living space has five bedrooms, four bathrooms, an indoor lap pool, spa, and sauna area with mural, rock wall water feature.
<a href="https://www.propertyobserver.com.au/images/stories/2013/10/02/west-lakes-oct-2-floorplan-big.gif" title="Click to enlarge" rel="shadowbox"><img src="https://www.urban.com.au/images/stories/2013/10/02/west-lakes-oct-2-floorplan-small.gif"></a>
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Lleyton Hewitt sells long vacated West Lakes, Adelaide former home for a loss

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The Myrtles, the historic Medindie, Adelaide mansion has been sold for $5 million to a Chinese buyer with local connections.
The most expensive residential sale in SA history is <a href="/news">Glenelg</a>’s historic Stormont mansion, which sold for $6.5 million in 2010.
Last year’s highest residential sale price in Adelaide was 11 Robe Terrace, <a href="/news">Medindie</a>, a single storey 1900 home on almost 4000 square metres which fetched $4,917,000 in January 2013.
There's speculation that 4 Victoria Avenue, <a href="/news">Unley Park</a> was currently under contract at $5 million plus. The 1920s house on 4622 square metres last sold at $2.95 million in 2004.
The Myrtles sold for $5.2 million in April 2006, but the most recent sale was in July 2007 at $3.9 million.
The renovated 1890-built home on 2,200 square metres has six bedrooms in the main home and a separate self-contained apartment.
{qtube vid:=OvzxT3R34kA}
The Myrtles, at 7 Myrtles Court, sold through<a href="https://www.realestate.com.au/property-house-sa-medindie-115594939" target="_blank"> Harcourts Brock Williams agents John and Stephanie Williams</a>.
“You don’t see too many $5 million private residential sales in South Australia, and I think this is the first one for a couple of years,” Williams told News Ltd papers.
It was once the home of property identities Cathy and Myles Pearce who made a splash on the national stage at the Block auction in the Manly series.
The home boasts 850 square metre of space including formal entrance gallery.
Its chef’s kitchen comes with four ovens, two dishwashers and a cold room.
The grounds come with floodlit synthetic tennis court, a heated pool and spa and an outdoor kitchen.
The home has featured in movies, including Shine, and the television series McLeod’s Daughters.
<a href="/news/the-countrys-most-beautiful-homes-the-winners">It was ranked among the most beautiful homes across Australia</a> on its late 2013 listing by Property Observer readers.
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The Myrtles, Medindie trophy mansion sells to Chinese buyer

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Baltimore, a five bedroom, 2010-built home in Adelaide's prestigious suburb, Springfield sold for $3.26 million at weekend auction.
It came with twin garages for up to 17 cars. There is one garage space that is 16.5 metres by 12.6 metres wide, and another space at 11.4 metres by 5.2 metres wide.
The 1584 square metre grounds had swimming pool and tennis court.
The home has a commercial-grade eight person lift which leads down to a garage with its polished Italian stone tiles. 
"A car collector's paradise," was how <a href="https://www.realestate.com.au/property-house-sa-springfield-112472467" target="_blank">John Williams at Harcourts Brock Williams marketed the property</a> for its May 31 auction, offered under bank instructions.
There were around 30 bids from the five registered bidders.
The property had previously transferred at $4.25 million in mid-2012, before it was initially listed with $4.5 million hopes in late 2012. Last November there were $3.9 million hopes through Jamie Brown at Bernard H Booth.  
<a href="https://www.adelaidenow.com.au/realestate/lavish-living-with-built-in-batcave-at-17-elmglade-rd-springfield/story-e6frefdl-1226532422618" target="_blank">The 2012 buyer, then vendor was reportedly George Nowak from the Charterhill Group who suggested "</a><a href="https://www.adelaidenow.com.au/realestate/lavish-living-with-built-in-batcave-at-17-elmglade-rd-springfield/story-e6frefdl-1226532422618" target="_blank">it feels like you have your own David Jones carpark."</a> 
"There is a home theatre in the garage so it's almost like a Batcave style and has a magnificent feel and amazing acoustics," he also said when it was offered in late 2012.
But Nowak, whose SA accountancy firm specialising in SMSF property collapsed last year, had bought the Springfield property via a family member, according to the SA Today Tonight program. <a href="https://www.todaytonightadelaide.com.au/stories/charterhill" target="_blank">There was $500,000 vendor finance, the Today Tonight reporter Frank Pangallo said</a>.
The house sits behind electric entrance gates.
<a href="https://www.brockwilliams.net.au/selling/SA/Eastern-Suburbs/SPRINGFIELD/House/1P0845" target="_blank">The property traded in 2008 at $1.2 million</a> with an eight bedroom Georgian style home.
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