<a href="https://www.apartments.com.au/developers/toga-group">TOGA</a> has opened sales for the final building in Macquarie Rise, its latest mixed-use development in Macquarie Park.

Since launching its <a href="https://www.apartments.com.au/new-apartments/macquarie-rise-122-herring-road-macquarie-park-nsw-2113">Macquarie Rise</a> in late 2023, TOGA has secured over 125 sales in the Herring Road development, to a range of purchasers, from first home buyers to investors and downsizers. Around 65 per cent of purchasers have been owner-occupiers.

TOGA has now launched a new release of one-, two-, and three-bedroom apartments in the final building, Saunders Rise. Many of the apartments feature multi-purpose rooms and offer views of the surrounding greenery. Also part of the release is a series of&nbsp;sub penthouses housed on the upper floors.

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&nbsp;

“We’re delighted with the ongoing strong interest in our Macquarie Rise development, which is testament to the need for premium housing in this much-loved Sydney suburb,"&nbsp;Allan Vidor AM, Managing Director at TOGA, said.

"We’re proud to be able to offer buyers a unique product that includes luxury amenities, spacious living areas and flexible layouts, designed to suit all kinds of buyers, from young professionals to families and investors.

“We have long been advocates of Macquarie Park, and once Macquarie Rise is complete, TOGA will have built 1,000 apartments in the area, delivering much needed homes within a thriving precinct. It’s great to see the area become renowned for high-quality apartments, proximity to amenities and green spaces."

TOGA, one of Australia’s few Gold Star iCIRT rated developers, is also handling construction of Macquarie Rise. They are on track to complete the building in 2027.

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Macquarie Rise boasts a prime location, placing residents within immediate reach of Macquarie Centre, Macquarie University, and the newly completed Macquarie University Metro, connecting to the Sydney CBD is just over 20 minutes.

&nbsp;

Macquarie Rise residents also have access to Club Rise, an exclusive, residents only lounge designed by luxury hotel designers Stack Studio, offering an abundance of work and break-out areas, a Pilates studio, a gym, and a karaoke room. As well as these premium amenities Macquarie Rise will also feature an impressive podium top 20m lap pool.

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“Offering luxury, spacious apartments in a vibrant and well-connected neighbourhood, it’s no surprise that Macquarie Rise remains popular with a range of buyers," said TOGA's General Manager of Sales, Anthony Falas.&nbsp;

"With interest rates tracking downwards, we expect the final apartments to continue to receive high levels of interest.”

Located at 122 Herring Road, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with a value of over $400 million.

&nbsp;

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Joel Robinson

TOGA launches final stage apartments in Macquarie Rise

Southern Cross Station anchors the western end of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a>’s CBD, connecting metropolitan and regional rail with tram and bus interchanges in one of the city’s busiest transport corridors.&nbsp;

Just metres away, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a>&nbsp;will place residents in the heart of the city, with immediate access to Spencer Street trams, a growing mix of retail, hospitality and cultural venues, and a neighbourhood evolving into a lively residential precinct.

Developed by <a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a>, the 68-storey project integrates a sculptural glass tower with the heritage-listed Eliza Tinsley Building on a 2,765 sqm site.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the development replaces a previously approved scheme for 813 apartments with a refined offering of just over 600 larger-format residences, responding to a growing owner-occupier demand for spacious city living.

The location sits within a dynamic pocket undergoing significant transformation. Marvel Stadium and the Docklands waterfront are less than 10 minutes away on foot, offering both sports and leisure attractions.&nbsp;

Bourke Street Mall, Queen Victoria Market, and the State Library are all within walking distance, while Flagstaff Gardens, Melbourne’s oldest park, provides a green escape just to the north.

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Proximity to some of the city’s largest employers and education hubs, including the courts precinct, legal chambers, RMIT, and major hospitals, makes 640 Bourke Street an appealing residential address for professionals, families and students alike.

Education opportunities span all levels. Nearby, Haileybury City Campus offers private schooling just a short walk from 640 Bourke Street. Just beyond the CBD fringe, Carlton Gardens Primary School, one of Melbourne’s oldest state primary schools, and Docklands Primary School provide convenient government schooling options.

Higher education is equally accessible. RMIT University’s city campus spans multiple buildings just a few blocks away, while the University of Melbourne’s Parkville campus is easily reached via tram along Swanston or Elizabeth Streets.

Victoria University’s City Queen campus, focused on law and business, is also close by, positioning 640 Bourke Street within walking distance of three of Melbourne’s major tertiary institutions.

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The neighbourhood’s retail tapestry continues to evolve into something distinctly local and walkable. Just steps away, Woolworths Metro on Bourke Street ensures that everyday essentials are easily within reach.&nbsp;

For larger shopping trips, Spencer Outlet Centre on Spencer Street and QV Melbourne on the opposite side of the CBD broaden the offering with supermarkets, fashion, dining and specialty stores.

The lane-to-lane vibe unfolds beautifully in nearby arcades and alleys. Hardware Lane, with its European-style red-brick paving and alfresco dining, pulses with jazzy evenings and casual lunches.

A few minutes north, Howey Place and Centre Place offer leafy, boutique-lined lanes where hidden cafés and niche retailers congregate under historic glass-covered cloisters.

Completing this tapestry is the newly opened Mecca “beauty playground” on Bourke Street. Spanning 4,000 sqm over three levels, the flagship blends immersive retail within an art-deco heritage setting.

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This finely grained network of shops, eateries, arcades and service outlets defines the everyday lifestyle at 640 Bourke Street - further enriched by over 3,000 sqm of resident amenity including a Turkish-inspired pool, gym, co-working rooms and private cinemas.&nbsp;

Now selling from $640,000 to $3.95 million, with off-the-plan stamp duty concessions available until October 2026. Prospective buyers can visit the on site display gallery which has&nbsp;fully built one, two, and three-bedroom apartments.

[smartcode_project_cta:default project_id=509]

640 Bourke Street: A heritage address at the heart of Melbourne

Lower North Shore development specialists&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>&nbsp;has topped out its new local apartment development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/northcote-collective-naremburn-2-6-northcote-street-naremburn-nsw-2065">Northcote Collective</a>.&nbsp;

Located in the tightly held suburb of <a href="https://www.apartments.com.au/developments/naremburn-nsw-2065">Naremburn</a>, Northcote Collective is a collection of just 58 one-, two-, and three-bedroom apartments designed by award-winning architects Rothelowman.&nbsp;

The building is just a five to 10 minute walk from the heart of Crows Nest and the new&nbsp;St Leonards and Crows Nest Metro stations. Abadeen has also brought doorstep convenience, with a ground-floor retail offering on Northcote Street.

Northcote Collective is being delivered by&nbsp;<a href="https://www.apartments.com.au/builders/decode">Decode</a> — an iCIRT-rated construction company well regarded in the new development industry.

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“This is an important and exciting moment for Northcote Collective, and we’re proud to celebrate this milestone with our partners, consultants, and future residents,” said Justin Brown, Executive Chairman and Founder of Abadeen.&nbsp;

“From the outset, our vision was to create something truly special for Naremburn — homes that respect the character of the neighbourhood while elevating the standard of Lower North Shore living. With connectivity to transport, retail on the doorstep and a true village lifestyle, this milestone also comes at a perfect time when buyer confidence is returning to the market. I am incredibly proud of our team and of Decode for their dedication in helping us bring this vision to life.”

[smartcode_project:default project_id=114189 project_image_fid=272865]

The development is two-tiered, with two rooftops for residents. The taller building has an impressive rooftop pool, a rare inclusion in the new Sydney apartment market. The level, with panoramic views, also includes an entertaining terrace with barbecue facilities.

Local downsizers and young professionals are showing the strongest interest in the development, with recent improvements in the property market — supported by three rate cuts in 2025 — boosting borrowing power and buyer confidence.

Auction activity across Sydney surged by almost 30 per cent in recent weeks, with clearance rates above 70 per cent — signalling a renewed wave of buyer demand.

Northcote Collective will welcome buyers in 2026.

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Abadeen tops out Northcote Collective in Naremburn

Sunshine Coast-based <a href="https://www.apartments.com.au/developers/devcon-property-group">Devcon Property Group</a> has acquired one of Maroochydore’s most prominent development sites for $12 million unlocking the potentialfor a mixed-use project in the Cotton Tree precinct.

&nbsp;

The 4,178 sqm site at 41–43 Aerodrome Road—well known locally as the former home to one of Australia’s last Sizzler restaurants—was sold via an off-market expressions of interest campaign by Colliers agents Nick Dowling and Baydn Dodds. More than 70 targeted buyer groups were approached, resulting in multiple competitive offers for the property.

Devcon Property Group Managing Director Michael Kain said the acquisition was a strategic move in line with the company’s focus on delivering high-quality projects in prime coastal locations.&nbsp;

“We’re excited about the possibilities this site, in one of the Sunshine Coast’s most iconic beachside &nbsp;communities, offers for a broad range of development outcomes,” Kain said.

“Its location, ocean view potential, and proximity to the Maroochydore CBD and beach make it an &nbsp;outstanding development prospect. Our plans are to refurbish the existing building and then review &nbsp;development options for the remainder of the site.”&nbsp;

<img alt="Aerodrome Rd site overlooking Beach (Large)" data-entity-type="file" data-entity-uuid="a29dc4ed-68c1-4bec-a4fc-283063dcde1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerodrome%20Rd%20site%20overlooking%20Beach%20%28Large%29.jpg?VersionId=b0WxJWevmLoAfCP4YvGImZpR3rSCJJ9L" />

Colliers Special Projects Manager Baydn Dodds said the sale reflected the ongoing strength of the &nbsp;Sunshine Coast’s development site market, particularly for projects capable of achieving water views. &nbsp;

“Sites of this scale, in walkable beachside locations with ocean views, are tightly held and continue to attract significant interest from both local and national developers,” Baydn Dodds said. &nbsp;

“Holding a prominent position as the former home to one of Australia’s last Sizzler restaurants and more recently occupied by Rashays, the prime site is located just 150 metres from Maroochydore Beach.&nbsp;

“With stunning ocean view potential, located in one of the Sunshine Coast’s best known iconic &nbsp;beachside communities, within steps of shops, cafes and the beach it is no surprise that there was strong interest in the site. The transaction highlights the ongoing depth of demand for well-located &nbsp;mixed-use sites across the Sunshine Coast.”&nbsp;

Colliers Sunshine Coast Managing Director Nick Dowling said the transaction reinforced the &nbsp;Sunshine Coast’s status as one of Australia’s most active development markets.&nbsp;

“The combination of strong population growth, lifestyle appeal, and infrastructure investment is &nbsp;driving demand for quality development opportunities,” Nick Dowling said. &nbsp;

“The Sunshine Coast is one of only three markets nationally to record an increase in crane numbers, &nbsp;reflecting the strength of the region’s construction pipeline.&nbsp;

“Opportunities like this are rare and continue to generate strong buyer interest in the region.”&nbsp;

The Sunshine Coast development market is booming, with several high-profile developers like Cube Developments, Gardner Vaughan Group, and RCQ, planning developments in the region.

Devcon buys Sunshine Coast’s former Sizzler site for new apartment development

Sydney House, the residential redevelopment of the landmark City Tattersall building on Pitt Street in the Sydney CBD, will officially launch to the market this month.

The $800 million development, a joint venture between&nbsp;Singapore-listed <a href="https://www.apartments.com.au/developers/first-sponsor">First Sponsor</a>&nbsp;and leading Melbourne-based developer&nbsp;<a href="https://www.apartments.com.au/developers/icd-property">ICD Property</a>, will see a glass tower with 241 apartments and a 135-room hotel built above the restored heritage-listed podium.

[smartcode_project:default project_id=12428 project_image_fid=312145]

The apartments will offer&nbsp;rare northeast-facing views across the sparkling Sydney Harbour and Hyde Park, all positioned above a luxury hotel with exclusive access to premium amenities and five-star lifestyle services.

Internationally acclaimed architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/bvn-architecture">BVN Architecture</a>&nbsp;handled the design for the residential component and the interiors for the hotel, while&nbsp;<a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>&nbsp;focused on the heritage podium.

[smartcode_project:default project_id=12428 project_image_fid=6670]

First Sponsor’s CEO, Neo Teck Pheng, together with ICD Property’s CEO, Matthew Khoo commented that the joint venture team was ecstatic to bring this extraordinary project to market as the first opportunity for those looking to secure their ultimate CBD luxury residence elevated by premium hotel amenities, including select premium services designed for effortless living.

“<a href="https://www.apartments.com.au/new-apartments/sydney-house-194-204-pitt-street-sydney-nsw-2000">Sydney House</a> will offer a sophisticated expression of modern CBD living, capturing panoramic vistas to Sydney’s most beloved icons, including the Sydney Harbour Bridge as well as Hyde Park out to the North and South Heads,” Khoo said.&nbsp;

&nbsp;

[smartcode_project:default project_id=12428 project_image_fid=312146]

Mr Neo expressed that the reinterpretation of the heritage podium levels will feature an elegant heritage bar and restaurant, along with luxurious hotel and function facilities, enhancing the experience for residents. The historical features will be reborn, ensuring that these grand, opulent spaces will once again be enjoyed, appreciated and celebrated by residents, Sydneysiders as well as interstate and international visitors alike.

Managing sales for the project, SRM Residential Partner Tim Rees said that the team has received an overwhelming response to date, largely from local downsizers and upgraders looking for the ultimate lifestyle purchase.&nbsp;

“Once completed in late 2027, Sydney House will be Sydney CBD’s newest icon blending modern architecture with historic grandeur located in one of the most prestigious enclaves of the CBD,” Rees said.&nbsp;

“Pitt Street is arguably the most significant street in all of Sydney. Just a stone’s throw from Circular Quay, Sydney Opera House, Hyde Park and Darling Harbour, Sydney House offers seamless connection with the CBD and beyond. Pitt Street Mall is literally across the road and there is an abundance of dining and cultural venues in close proximity. The outlook from Sydney House will be breathtaking with views of Hyde Park and Sydney’s famous iconic landmarks on offer.

“Following the trend of other global cities such as New York, London, Paris and Tokyo, luxury inner city apartment living with access to premium hotel amenities is the new ‘trophy home’ for wealthy downsizers or empty-nesters who aren’t looking to slow down, as they want to live in the heart of the action.”

[smartcode_project:default project_id=12428 project_image_fid=350624]

The project boasts a prime CBD location surrounded by the city’s most premium shopping centres including David Jones and Westfield Pitt Street as well as some of Sydney's best restaurants, bars,&nbsp;pubs, theatres, museums, art galleries, and parks.

Residents will be able to access the newly opened Sydney Metro Gadigal Station, located within a block from Sydney House. This station provides connectivity to Martin Place (one min), Barangaroo (three mins) and North Sydney (11 mins) as well as Chatswood and Macquarie University through to Castle Hill and Norwest. With services every four minutes during peak times, the Sydney Metro provides the ultimate convenience with 21 stations from Tallawong to Sydenham.

One of Sydney’s leading residential construction companies, particularly in premium off the plan luxury residences, Richard Crookes Constructions, will complete the project in late 2027.&nbsp;

Price guides at Sydney House include one-bedroom apartments from $1.5 million, two-bedroom apartments from $2.3 million and three-bedroom apartments from $5 million.

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Set to bring next level luxury to Sydney CBD’s prestige property market

Buyers set for first chance at Sydney House, Sydney CBD's newest landmark tower development

Beller Group

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Two of the most established companies in Victorian real estate, Buxton and Beller, have announced they will be joining forces.
From July 1 they will form a partnership under the Buxton brand.
Beller currently manage over $1.5 billion in residential property. Their team of more than 20 agents and support staff will continue to service their clients.
Founded in 1994, the Beller Group’s Windsor office, led by Beller Group Director Andrew Fawell, will now become Buxton Stonnington, bringing the company to a total of 24 offices across the state.
“For me, it was a matter of future proofing and evolving the business; doing what’s best for our people and the company," Fawell said.
"What I admire most is Buxton’s innate ability to attract incredibly talented people to the business, which is vital to a brand’s longevity.
“Buxton has such a deep heritage with over 150 years in Melbourne’s real estate market.
"There is a lot of value in a company that has been through a significant number of property cycles. 
"Comparably, we have 25 years of history so joining forces makes sense strategically,” Fawell added.
Buxton CEO Nathan Jones said he was excited about the partnership and the acquisition of such experienced and quality operators into the group.
“Buxton is really well placed to continue increasing its market share in Stonnington," Jones said.
"We have historically dominated Melbourne’s Bayside and South East, and we’ve now taken strong leadership positions in Greater Geelong and Ballarat whilst having a growing presence in Melbourne’s Eastern suburbs.
“The Beller Group is one of Victoria’s largest independently owned residential businesses in the industry. This collaboration, although borne out of opportunity, will allow us to extend our focus into the key blue chip suburbs within Stonnington.
“As our network strengthens year on year, we are spending more time developing strategies to improve customer acquisition and advocacy, and this move was certainly a major part of our focus,” said Nathan.
Beller Project Marketing will also become Projects by Buxton and the third arm of Beller Group, Beller Commercial, is currently launching a new independent brand and will continue to operate from its office in Prahran.
 
 
 
 
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j.ballantyne1990-6AQqhLzZaK

Buxton & Beller join forces to form Victorian real estate powerhouse

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No doubt about it, the emerging build-to-rent model has the property media in a tizz at the moment. What may in part become a solution to the housing and rental affordability dilemma has garnered immense media attention of late.

The Australian Financial Review has referred to it as a <a href="http://www.afr.com/real-estate/it-could-be-a-game-changer-odds-increase-for-buildtorent-sector-20170825-gy4b8e">game changer</a>, <a href="http://www.afr.com/real-estate/build-to-rent-a-key-for-australian-housing-affordability-20170830-gy6y2x">a key for Australian housing affordability</a> and a <a href="http://www.afr.com/real-estate/residential/buildtorent-great-for-big-investors-good-for-overpriced-cities-20170831-gy89xv">boon for property industry big investors</a>.

Whilst the new model of project delivery holds great appeal, a spanner in the works may have emerged with <a href="http://www.theaustralian.com.au/business/property/buildtorent-rules-challenged/news-story/72a8b19e6b358d2461e63c472b45315b">The Australian last week noting</a> that "tough new rules on Australia’s nascent build-to-rent sector proposed by the federal government could restrict investment in the area and crimp the asset class that has the potential to relieve pressure on the housing sector."

Below is a succinct overview of the Build to Rent model as per the Informa Australia website, with the forthcoming <a href="https://www.informa.com.au/event/build-rent-forum/">Build-to-Rent Forum</a> to be held in Sydney on 30 October 2017. 

<h2>Build-to-rent explained</h2>

<ul>
<li>Build-to-rent (also known as Multi-Family Occupancy) is a new housing model that could be the solution for the affordability crisis in Australia’s metropolitan areas. </li>
	<li>Build-to-rent allows companies that construct residential housing (usually apartment blocks) to retain ownership of them, once built.</li>
	<li>Build-to-rent looks to change this attitude, by allowing the developer/construction company to retain ownership of their building and become the landlord.</li>
	<li>The developer or construction company will offer 5-10 year leases to young families.</li>
	<li>Lengthy nature of leases on offer allows for lower rental prices.</li>
	<li>It is believed to be a win/win for developers and renters and would offer a viable option for those looking to live in the expensive Sydney and Melbourne regions.</li>
	<li>There is an opportunity for build-to-rent/multi-family occupancy to be considered an asset class and therefore affect the Australian economy even more directly and involved both state and commonwealth governments.</li>
</ul>
<h2>Andrew Fawell at the coal face</h2>

At the forefront of discussions on the model is Andrew Fawell, Group Director at Beller Property Group. Apartments.com.au recently chatted with Andrew on all things build-to-rent.

Build-to-rent is not necessarily new to Melbourne. Mid-sized property player B Central Development Group is across the model, last year completing 405 St Kilda Road which is 100% retained by the developer, whilst Ciel on Centre Road Bentleigh will also contain a build-to-rent aspect with 20% retained by B Central Development Group as long-term rental stock. 

In addition to managing the above projects, Andrew Fawell also notes that Armadale will also host a similar build-to-rent development located at 737-739 High Street.

Why the model has stirred interest is the emerging scaleability and subsequent viability for the larger players within the property industry. Salta has garnered much attention for their mixed-use Docklands tower which includes a build-to-rent component, with players such as Mirvac, Cbus Property and Lendlease all weighing into the discussion prior to advancing any projects.

What shape and scale the build-to-rent sector takes heavily relies upon the role of Government. Andrew Fawell suggests incentives from a Government level are required to bring on the build-to-rent sector, contrary to the <a href="http://www.theaustralian.com.au/business/property/buildtorent-rules-challenged/news-story/72a8b19e6b358d2461e63c472b45315b">reported planned measures taken by Treasurer Scott Morrison</a> to restrict for global investment in the sector.

Also on Andrew Fawell's mind is the role of Australia's banks, suggesting that as long as banks comprehensively control the financial strings, there will be no immediate and easy solution to Australia's affordability issue. Thus how to commercialise the build-to-rent model to a point where it reaches critical mass and affords players the adequate degree of return for their investment is the pressing question.

Hence the increasing number of property industry-focused seminars and forums to devise a cohesive approach to what looms as a new paradigm for affordable housing.

Above all Andrew Fawell stresses the need for certainty in policies and structures formulated to aid the emergence of the build-to-rent sector. 
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silvermb

The hot topic: Beller's Andrew Fawell on the intricacies of the Build-to-rent model

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Urban.com.au recently sat down with <a href="http://www.bellergroup.com.au/">Beller</a> Director, Andrew Fawell to discuss the state of play of the residential property market during spring. Andrew reignited the Beller name as the Director and Owner of the business in 1994 and set about growing and further developing the Beller brand. His insight and understanding of the property market and Beller's client base has seen the business develop into the multi-faceted inner-city real estate agency adding commercial and project marketing businesses.

A range of topics were discussed delving into current housing trends and the impact on Australian residential development from off-shore investors, namely from China. A slowdown in the apartment market that has been fuelled by investment from Chinese investors has been widely tipped with the market currently considered saturated. Despite this housing remains in strong demand overall and according to Andrew a major driving force is low-interest rates which he expects will see further reductions in 2016.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/uws_m1.jpg" rel="gallery-all" title="Apartments developments continue to rise at pace. "><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/uws_m1.jpg?itok=XH2ePB4z" title="Apartments developments continue to rise at pace. " width="580"></a>

<figcaption>Apartments developments continue to rise at pace.</figcaption></figure>While a slowdown in the market appears on the cards, off shore investment particularly for off the plan housing stock remains strong. The latest fad for off shore investment says Andrew, is house and land with developers already looking to take advantage of this shift. Likewise townhouses are increasingly growing in popularity as they offer long term security to investors given the lower level of supply and are sought after in well-established inner ring suburbs. And despite oversupply affecting main road properties, the benefit is that there's now more choice on the backstreets. Unique well located properties are still very much in demand, however the absence of balconies or lack of private open space is generally considered a deal breaker to achieve optimum sale prices.

Buyers who have a family with children still in school are also prepared to pay more in established suburbs away from the city such as McKinnon, for example due to its high number of well recognised schools but without the school fees of the private schools. Buying in what is considered to be a 'location' suburb that isn't Toorak or Kew is possible largely due to savings that can be made on private school fees; these funds can then be redirected towards the servicing of a mortgage for a property as well as not paying someone else rent. When the children’s education is completed, they then sell and hope to realise a capital gain.

Empty nesters looking to downsize have also been prominent players in the owner occupier market, selling their free hold properties and buying in areas such as Hawksburn Village, largely because they are attracted to the lifestyle associated with those areas; they are considered places with life. "Everyone wants lifestyle aspects" says Andrew. As a result these areas also tend to yield bigger apartments than those within the CBD and Southbank that are targeted towards the investor market.

On the impact that the new residential zones are having on development, Andrew says the introduction of the zones has meant many owners are now looking at holding on to properties as they are no longer feasible to develop. The introduction of other controls may result in the adaptive re-use of existing commercial stock such as the office buildings on St Kilda Rd which has been very strategic with developments such as Fawkner on The Park and the former St Kilda Rd Police complex looking to take advantage of the panoramic views their respective locations afford. 

Andrew notes that more recently a number of properties that Beller clients have, are now being developed with a build and hold mentality in what Andrew terms "smart futures for smart money". Clients realise that they can sell for a solid price now but don’t know where to invest the proceeds. So what could be better than reinvesting in the existing asset that has already been performing well for you. There are a number of benefits he says, firstly after 5 years there's no GST applied to any sale. If the property or properties are held for 10 years there are significant depreciation benefits and the properties will see rental growth once initial oversupply is over not to mention potential capital growth. Additionally, there is also the long term ability to subdivide the asset and spread the risk and get the banks claws out of you.

Andrew's parting words to those looking to invest in property are "Don't just read headlines know the market." He says there's a big difference between simply being a spreadsheet developer/investor vs being someone who is much more plugged in and understands the market. According to Andrew if there's no clear strategy it is often better to hold onto the property and get returns as opposed to selling the property and leaving the money sitting in the bank. "Keep it simple," says Andrew "Wherever you buy make sure you're happy to be a long term landlord if the market changes."
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Laurence Dragomir

Beller's Andrew Fawell on the Spring property market and prevailing trends

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As far back as Spring 2014 Beller Property Group director Andrew Fawell was noting a confluence of factors which has led the Melbourne property sector into a 'perfect storm.'

<blockquote>
The market in every property sector that we are involved in is firing on all cylinders at the moment. With historical low interest rates, this has compressed yields on all investment property both residential and commercial. This in turn has bolstered the markets appetite for risk and people are quite prepared to take on greater debt levels and lock in on low rates, given the low term deposit rates on offer.

All of our divisions have seen the continued heat being applied from the Asian market and, more specifically, from the Chinese market. This has added another layer of complexity to the Melbourne marketplace unseen before.
<cite>Andrew Fawell, Beller newsletter, Spring 2014</cite>
</blockquote>

With the above in mind Apartments.com.au sat down with Andrew Fawell, Beller Commercial director Fred Nucara and Beller Residential Sales Manager Robert German to gain a collective impression of where Beller see the market both now and into the future.

<h2>The current market</h2>

Since Andrew Fawell's comments last year, the Beller team believe the above factors have compounded further, causing the "Stars to align across all sectors." Be it buyers, sellers or renters across residential or commercial, active participants have it very good on all fronts.

In a macro sense, global investment yields are flat, prompting many investors to seek safehavens such as property. Describing banks as "going backwards" in the returns they can offer, the robust Melbourne property price increases, particularly in detached dwellings, are a tasty investment for overseas and domestic investors.

Tied in with this trend is the fall in the AUD which Beller believes is at an ideal level to keep the market churning.

Overall Beller see the market as highly dynamic. Fred Nucara states that data collected six months ago often has little relevance to that which is occurring now, pointing toward the need to pound the pavement in order to get a feel for current conditions and sentiment.

<h2>Buyers and sellers</h2>

Speaking of the current vendor market, Robert German describes the relationship where confidence in the market is relative to greed. That is, prospective vendors view the lofty results achieved on certain properties (land development sites or private housing) and assume that they will attain the same outcome. At this point the lure of increased returns may well blind reality, leading to unattainable expectations bolstered by a sometimes misplaced confidence gained from a robust market.

Heavily influenced by overseas buyers, the Melbourne apartment market is viewed by Beller as a unique beast with its own set of challenges and opportunities. Described as patchy by the Beller team, it is at the moment a suburb by suburb prospect with middle ring suburbs in favour.

Given the enormous mass of apartments currently under construction in Melbourne's CBD, Andrew Fawell believes that apartments buyers can still achieve value for money purchases away from inner Melbourne on the proviso that they place emphasis on location, amenity and transport. Further to this Beller expects to see an increased divergence of Asian-based property developers away from Melbourne's CBD and into smaller-scale, high quality suburban apartment developments.

On the rental front, renters will continue to enjoy the continuous flow of newly completed apartments into the market, particularly throughout inner Melbourne. This will serve to suppress sizeable rental increases for the time being.

<h2>The seven year itch</h2>

Empirical evidence would suggest that Melbourne's 7-8 year development cycle is due to make itself felt in the not-too-distant future. From the cooling-off that occurred during the early 2000's post the apartment sales boom capped off by Eureka Tower, to the Lehman Brothers event of 2008 and its flow-on effects, Beller subscribe to the theory that an 'event' is due which will alter the current market dynamic.

Noting that all good things must come to an end, Fred Nucara spoke of the necessity for potential property buyers and sellers not to dismiss or ignore the property cycle, as change is inevitable. Quizzed on what likely event would trigger a 'black swan moment', a range of smiles and multiple machination were on show. Million-dollar questions aside, the Beller team talk of a unpredicted event that will trigger a domino effect that will sent market fundamentals into a spin.

So what does this all mean in the eyes of Beller Property Group?

<h2>Decision time</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cycle-clock-web.gif" rel="gallery-all" title="The cycle clock. Image courtesy Quartile"><img alt="" class="image-article-full-width-580px" height="300" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/cycle-clock-web.gif?itok=h8ssUXvx" title="The cycle clock. Image courtesy Quartile" width="580"></a>

<figcaption>The cycle clock. Image courtesy Quartile</figcaption></figure>Once more emphasising that change is inevitable, Beller Group are urging their existing and potential customers to act now rather than hold out in the hope of greater returns. In their belief, change to the current market dynamic is nigh, and that the 'prefect storm' of conditions that are in place currently cannot last.

Asked as to whether this is a self-serving argument in which they stand to gain, the team answered that is may sound like the case but historically the 'unseen event' is due which will disappoint those intended property participants who remain inactive in the short to medium term.

Paraphrasing Andrew Fawell in summing-up the discussion; the current strong market is the time to transact - if you're able to do so, don't hold back!

Lead image courtesy wowplanetearth.com.
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