Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" 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/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Commercial Development

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Plans for Melbourne’s tallest building — 322 metres — have been given the green signal by the Daniel Andrews’ government. 
James Packer’s Crown casino will expand its Southbank site to eight hectares for its $1.75 billion 90-storey tower.
On completion, the 1 Queensbridge Street site will have a 6-star hotel with 388 rooms, 708 apartments, a pedestrian skybridge and visitor attractions.
It will eclipse Eureka Tower by 25 metres. 
Planning Minister Richard Wynne, who had earlier taken a firm hand to curtail over-development of sites, approved the project – which is claimed to represent $2.1 billion in economic benefit - after 12 months of talks with the developer and Melbourne City Council, according to Fairfax Media.
Premier Andrews said the project would create 4000 jobs; 3000 during construction and another 1,000 once up and running.
"It's not just about height though, the quality of this design outcome, particularly the public realm benefits that will be accessible for all Victorians, really mark this out as a very, very special project," Andrews was quoted as saying.
But the decision was met with criticism from several quarters. 
Melbourne City councillor Rohan Leppert from the Greens said the tower "makes a mockery" of new rules for skyscrapers introduced by Wynne last year. This was, he said, "particularly due to the complete lack of setback to Queens Bridge Street and the sheer bulk of the building".
He also questioned why the public had not had any opportunity to have input into the tower decision.
Wynne amended the planning scheme in order to approve the tower, instead of the usual process of first seeking formal feedback from Melbourne City Council.
RMIT Planning academic Michael Buxton was also quoted in the report as saying Crown appeared to have created its own rules for the site.
"There is supposedly a rule in place for projects like this, but there are no rules, and the more powerful you are the fewer the rules," Professor Buxton said.
Crown and its joint venture partner Schiavello Group will pay $100 million towards a community package that will see a $25 million upgrade of Queensbridge square, and $15 million towards Sandridge rail bridge.
Construction is expected to start in 2018 and could take up to six years to finish. 
There will be no gambling within the building.
The announcement comes a day after an Auditor-General report found Victorian Commission for Gambling and Liquor Regulation oversight of gambling and money laundering at Crown Casino was inadequate, said the AAP in a report.
The VCGLR accepted the report and Andrews said if it needed extra government support he would "only be to happy" to provide it.
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prateek24-ezbwHMbNAk

Crown casino wins approval for Melbourne’s tallest tower

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Building firm Bold has opened its new headquarters in Queensland's North Lakes Business Park complete with cafe and million dollar design studio.
The 2,500sqm site at 49 Flinders Parade includes the 500sqm Evolve Design Studio, offices on the second level and a roof top entertainment deck, with lounge and bar.
Bold owner-director Brett Boulton said Bold was focused on developing high-quality displays in strategic corridors, with a total of nine opening or underway and more in the planning stages.
"It is the largest showroom of its kind in Queensland, with full scale kitchen, bathroom, media and bedroom displays, along with every fitting, finish and colour scheme available," he said.
"Over the past six years we've established a reputation in Brisbane, Ipswich and the Sunshine Coast and now is the prime time to expand to the Gold Coast.
"As one of Australia's fastest-growing regions, it is exactly the type of market we want to be in.
"Our plan has always been to have an active presence across the four key growth areas in the South East corner." 
"The Queensland Government's boosted first home owner's grant is stimulating interest at the lower end of the market, allowing first home buyers to get into a brand new home from as little as a couple of thousand in savings.
"At the same time, the low interest rate environment has led to a spike in demand across a variety of market segments, as more people are able to access finance."
For further information visit <a href="https://www.boldliving.com.au" target="_blank">www.boldliving.com.au</a>.
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jonathanchancellor-7SQnKwU6yx

Bold opens new Queensland headquarters

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GUEST OBSERVER
Going green has gone from being a luxury option to a necessity for the built environment sector today.
For cities around the world it has a key role to play in helping to cut their long-term carbon footprint. In Singapore, for example, the built environment is responsible for almost a quarter of our carbon emissions.
To reduce this we need to change not just the way buildings are constructed and run but also the perception of sustainability.
In the early stages of Singapore’s green building movement, green building practices were not perceived to offer any competitive advantage. However, today, we are seeing a shift in mindset with green buildings now regarded as a form of value creation for developers. Adding green building certifications such as Singapore’s Building and Construction Authority’s (BCA) Green Mark to a development’s list of credentials can help boost the developer’s corporate image and the prestige of such developments.
Singapore: A green work in progress
Such moves are driving rapid change. Over the past decade, Singapore has greened almost one-third of its building stock including improving energy and water efficiency, using eco-friendly construction material and creating healthier indoor space. It is well on track to achieving the target of greening 80 percent of all the buildings by 2030 to meet the standards set by the BCA Green Mark certification process.
Other cities can learn from the initiatives used to make progress. The Singapore government, for example, offers incentives for higher green building ratings. One of the most popular for developers is to obtain up to 2 percent additional Gross Floor Area when they achieve higher Green Mark ratings for new developments.
For older buildings, BCA also provides support to building owners to co-fund up to 50 percent of the energy efficiency retrofit cost. We’ve seen that retrofitted commercial buildings can benefit from an increase in their capital value of about 2 percent.
This is proof that profit and eco-consciousness can go hand-in-hand for green real estate.
The rise of green-minded tenants
It’s not just developers embracing sustainability; increasingly, green real estate is driven by tenants. Businesses which strongly advocate corporate social responsibility are increasingly expecting a better indoor environment, lower operating costs and enhanced market value for their spaces.
Once again, governments can help boost demand for sustainable buildings by extending green building certifications to tenants. In Singapore, the public sector champions this by leasing office spaces only from buildings which are at least certified Green Mark GoldPLUS. Public sector events are also required to be held in Green Mark-certified venues.
Real estate intermediaries are also stepping up to meet such demands. Through green leases and green facilities management, they now offer prospective building tenants a way to differentiate themselves by making a positive commitment to the environment, without undermining the viability of their business.
However, there’s a flipside to this as more buildings meet green standards, the additional value these currently provide is likely to decrease. To truly reflect the advantages offered by green buildings, more efforts by real estate appraisers will be required on how best to capture the value of green attributes.
All of this is just the start of a long-term sustainability commitment. The next challenge for cities is to ensure that green building practices are self-sustaining. A critical factor is to have a business environment that values green spaces and the people who created them.
Building for the future
Regulation will have huge impact on the future of green real estate around the world. Following the Paris agreement which came into force on 4 November 2016, sustainability regulations will become even more relevant to global real estate investors. For example, in the European Union, cities will be going beyond just greening buildings, to having net-zero buildings as a regulatory requirement.
Jurisdictions will also be created to mandate public disclosure of building energy use data, further intertwining energy use into decision-making on leasing and investment.
Stepping out of the “business as usual” approach may appear daunting, but with strong industry leadership and greater collaboration among all stakeholders, coupled with a forward-looking mandatory framework, the road to having “future-ready” green buildings and cities is a promising one.
This article by Ang Kian Seng, group director (Environmental Sustainability) at the Building and Construction Authority in Singapore, appeared in <a href="https://www.jllrealviews.com/viewpoint/why-green-real-estate-is-the-way-forward/" target="_blank">JLL Real Views</a>.
 
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jchancellor-FAypfDUnLy

Why green real estate is the way forward

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A Darlinghurst, Sydney island site with a with four street frontages is on the market for the first time in 24 years.
The property, 256 Crown Street, Darlinghurst, has the potential for 40 residential units.
It is on the market through expressions of interest closing March 22.
It is a block bounded by Crown Street, Kells Lane, Foley Street and Langley Street.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/15/Screen%20Shot%202017-02-15%20at%201.41.14%20pm.jpg" alt="">
The listing states the site is 'governed by extremely favourable planning controls for re-development including a 5:1 FSR and B4 Mixed Use Zoning."
Agents Gemma Isgro, Michael Khouri and Nicholas Heaton of CBRE have the listing.
“The market eagerly awaits rare opportunities such as 256 Crown Street, Darlinghurst.
This asset will demand a lot of interest from a wide and varied group of buyers, including investors; developers both locally and off-shore” Ms. Isgro said.
Mr Khouri commented it was "one of the best city fringe investments to hit the market.”
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Darlinghurst island site listed after 24 years

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Sydney based developer Romeciti has purchased a 1-hectare site in Macquarie Park.
The development is located at 82 Waterloo Road, a 2-minute walk from Macquarie Centre and Macquarie University station.
It is also adjacent to a green open space.
“Because of population growth, high paying jobs and quality education, Macquarie Park has become Sydney’s most sought after address, strongly supported by the government,” a representative from Romeciti says.
Romeciti has developed other projects across Sydney, including Manly, Rosebery, Top Ryde, Epping and Eastwood at the Eastwood Central development where $100 million worth of real estate was sold following its launch in December 2015.
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j.ballantyne1990-6AQqhLzZaK

Romeciti secure Macquarie Park development site

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SPONSORED POST
The 2.5% Building Allowance deduction is something most property investors already know about. However, there’s also a 4% Building Allowance available for some buildings.
The Building Allowance (sometimes referred to as the Capital Works Deduction) is a deduction that lets property investors offset the hard construction costs of their investment property against their assessable income.
Hard construction costs may include items such as concrete, brickwork, common property items that are not plant and equipment, and even excavation. This deduction is allowed under Division 43 of the Income Tax Assessment Act (ITAA) 1997, which sets out deductions for Building Allowance.
Now, what’s so good about claiming a 4% Building Allowance? Well obviously the higher the deduction, the less tax you might have to pay.
The Building Allowance is one of those “non-cash deductions”. This means you don’t have to fork out the cash to claim it, you already did when you purchased the property.
For example, if your building was built for $250,000 and the plant and equipment was $30,000 – this leaves a Division 43 claim of $220,000. At 2.5% annually this amounts to a $5500 deduction. At the 4% rate the claim is $8800 per year.
How do you claim the 4% Building Allowance on a property?
Option 1
Buy a manufacturing building where the core activities qualify under Section 43-150 of the ITAA 1997.
Buying a building that qualifies under the industrial activities of s43-150 of the ITAA 1997 is likely to qualify the industrial building for a 4% write off.
For instance, buildings involved in refining petroleum, milling timber, freezing primary products, printing, curing meat, canning or bottling, might qualify.
Other operations that qualify are likely to include buildings in which items are brought in or maintained in the condition in which they are sold. For instance, recently we were able to claim this allowance for a major car manufacturer on the property where its vehicles were serviced.
But not all industrial buildings qualify. If you have purchased a single factory in a complex of 50 factory units, it’s unlikely your building will qualify.
Option 2
If you buy several units that can be defined as “short-term traveller accommodation” you may be able to claim a 4% Building Allowance.
ATO ID 2003/513 has provided clearer definition as to what can now be defined as short-term traveller’s accommodation. Unfortunately, it’s not good news for investors, as most serviced apartments fall back into the 2.5% category.
If your serviced apartment has a kitchen, you should be claiming 2.5% not the 4% building allowance – unless you own 10 in the same building.
Some investors expect to receive the 4% building allowance because they own a holiday house and have it fully furnished. But this type of accommodation does not fit into the category.
The construction needs to have started after February 27, 1992 to be eligible. This type of investment generally has the highest depreciation claim as a proportion of the purchase price. This is in part due to the higher building allowance but also because these types of investments have more plant and equipment in them. They generally have lifts, pools, and also are often fully furnished.
But a high depreciation schedule does not necessarily make a good investment. Many people have been burnt in the past buying these types of investments based upon the available tax deductions.
Any downside?
Surely there must be some downside in claiming the 4% Building Allowance? Well there’s no such thing as a free lunch.
There is one downside: any amount claimed under Division 43 will need to be factored in when calculating your capital gains tax liability. This rule applies generally to assets acquired after July 1, 1997.
But under the principal of “a dollar today is better than a dollar tomorrow”, coupled with the CGT relief allowed, it’s still worth the exercise, especially to higher income earners.
For more news and information about commercial property, visit <a href="https://www.realcommercial.com.au/news" target="_blank">www.realcommercial.com.au/news</a>
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po-LsXgBTHBmX

Building allowance: how 2.5% can become 4%

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The Western Australian State Government is selling an entire townsite with more than 20 freestanding cottages with offers closing January 31.
The listing of Tone River, <a href="https://www.domain.com.au/lot-83-radburn-road-strachan-manjimup-wa-6258-2013236116" target="_blank">Lot 83 Radburn Road, Manjimup</a> WA 6258 says the town ceased working as a wilderness retreat in 2008 and "not a lot has happened since then until now".
The property, 42km's from Manjimup town centre and approximately 335km's from Perth, features a town hall, modern workshop, reception office, undercover BBQ area, beach volleyball court, tennis court and swimming hole.
The total area of land is approximately 39.82 hectares, with two house sites on the property privately owned outright and not part of the sale.
According to the listing it is set up for a group of people or a club to purchase and renovate over time.  
"Yes it's going to need some imagination, hard work and vision, but the end result could be as amazing and as big as you dream it!
"It's zoned Tourism Enterprise under the Manjimup Shire Town Planning Scheme so you can't live here full time (except for a caretakers residence). but you can holiday here as much as you like or create your own holiday centre."
The listing is through Colin Wallbank of LJ Hooker Pemberton. 
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Tone River townsite, WA, listed for sale

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The Sydney developer TWT Property Group has reportedly taken a majority stake in the $40 million amalgamated five-lot residential site including the Mill Hill Hotel at Bondi Junction (above) in Sydney's east.
TWT will develop the site at 59-69 Oxford Street, which comes with a development approval for a mixed residential/commercial project with 70 apartments with original owner, Allen Linz's Rebel Property Group, according to the Australian Financial Review.
It includes heritage conservation works for four commercial terraces at 63-69 Oxford Street. 
TWT and Rebel will develop the 12-storey residential tower with a ground floor public hotel and three levels of basement car parking as a full-equity project.
TWT is formerly known as Auswin TWT.
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TWT to JV with Allen Linz on Mill Hill Hotel, Bondi Junction redevelopment

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Stage one of the $500 million redevelopment of Toowoomba’s Grand Central Shopping Centre has been opened.
Upon completion of the two-level retail galleria precinct in 2017 a walkway will link the existing centre across the railway line.
It will feature Toowoomba's first H&amp;M store.
Buchan Group Director Gerry Holmes said the galleria was carefully crafted to maximise retail sightlines and visual amenity, enhancing the shopping experience.
“Critical to the success of any retail development is its master plan. While remaining flexible, this master plan embodies sound retail planning principles, placement of major tenants, clear pedestrian access, appropriate carparking and circulation, and relevant goods servicing provisions,” he said. 
“The opening marks a 20-year milestone for The Buchan Group, which has worked on all stages of the centre, from its concept design and 1996 opening, to master planning the current redevelopment for QIC during the past ten years.”
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Stage one opened in Toowoomba's Grand Central redevelopment

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The $150 million expansion of Narellan Town Centre in Sydney’s south-west is expected to be complete later this year, with the mall’s floor space set to double to 70,000 sqm. 
The northern section of the Town Centre is due for completion late 2016, with the overall development expected to be completed mid-2017, according to the Buchan Group, which is working on the redesign and upgrade.
Among the improvements is a sky bridge over Camden Valley Way that joins the existing southern shopping precinct to the new northern sector. 
The Buchan Group was appointed by Dart West Developments in 2009 to provide architectural and interior design services to the project, revising the centre’s original design concept to create a modern town centre.
The Town Centre is expected to act as a catalyst for further developments in the area and surrounding suburbs.
The Buchan Group’s project director Anthony Palamara said upon completion the new building would “redefine Narellan Town as a new central hub and town centre for Sydney’s south west”.
“The project brief was developed in conjunction with Council and the owners Dartwest Developments. The process involved the consideration of international and local benchmarking to create a major townscape adorned with hard and soft landscape, flanked by restaurants and an active plaza space,” he said.
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“In terms of standout features, this adjoining sky bridge is the pinnacle of the centre’s extraordinary design as it links the north and south retail precincts seamlessly and effortlessly for shoppers.”
The expanded town centre will rival other major shopping centres in the area, including Macarthur Square in Campbelltown, according to the media release.
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