Brisbane-based <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co Developments</a> has officially launched its $250million COMO apartment development in Varsity Lakes, while simultaneously commencing construction.&nbsp;

Building work is now underway at COMO following the appointment of <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a> as contractor to deliver the boutique development which will rise on a 2857 sqm site overlooking Lake Orr at 22 Lake Street.

When completed, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels located in the heart of Varsity Lakes.

[smartcode_project:default project_id=135546 project_image_fid=363515]

The project, which will sit alongside Bond University, will deliver a diverse array of apartment designs comprising one-, two- and three-bedroom residences that have already attracted interest from local and interstate investors as well as an array of owner occupiers looking to gain a foothold in the precinct.

Red &amp; Co, which has largely focused on the Brisbane market in recent years where it has delivered more than 500 apartments and townhouses across 26 projects, has designed COMO to combine tranquil, lakeside living with the vibrant urban convenience of the vibrant Varsity Lakes village.

“We’re thrilled to announce a start to construction of COMO in conjunction with the official launch of the project, our first for the Gold Coast,” said Red &amp; Co Director and Co-Founder David Laverty.

[smartcode_project:default project_id=135546 project_image_fid=363509]

“COMO is superbly positioned to capture the essence of the Varsity Lakes village lifestyle and its thriving café and dining precinct, while delivering a much-needed diverse supply of premium residences for the local market.

“Pre-launch inquiries have been strong among both local and interstate investors and owner-occupiers, including downsizers and upgraders who appreciate the value proposition that COMO represents.”

Prices at COMO start from $1,000,050.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the COMO development incorporates an extensive range of amenities for residents including a 25-metre rooftop lap pool, sundeck, barbecue and dining areas, as well as multiple rooftop pickleball and paddleball courts, a wellness and activity centre, gym, sauna, plunge baths and landscaped gardens.

“COMO presents a rare opportunity to secure a stylish, lifestyle-focused home in one of the Gold Coast’s most sought-after neighbourhoods,” added Laverty.

“The rooftop will be the epicentre of fun for residents with an array of amenities for residents that are quite unique for a boutique project such as this, all while offering spectacular vistas across the Gold Coast as far north as Southport and south to Burleigh.”

[smartcode_project:default project_id=135546 project_image_fid=363514]

&nbsp;

Red &amp; Co has chosen the Varsity Lakes site for its proximity to top-tier schools, major shopping hubs, such as Robina Town Centre and its CBD offering, as well as key Gold Coast transport links, including Varsity Lakes Train Station.

COMO will be located just a short walk to shops, cafes and restaurants in Varsity Lakes and just a 10-minute drive to the Burleigh Heads beachfront.

With construction currently underway, Red &amp; Co anticipates COMO will be completed in 2028.

[smartcode_project_cta:default project_id=135546]

Joel Robinson

Red & Co to launch debut Gold Coast development Como Varsity Lakes as construction commences

Longstanding Gold Coast developer Raptis has acquired a prime development site on Surf Parade for its next Broadbeach apartment project.

Progressing towards completion of <a href="https://www.apartments.com.au/new-apartments/the-sterling-broadbeach-6-8-george-avenue-broadbeach-qld-4218">The Sterling Broadbeach</a>, 90 apartments on nearby George Avenue, <a href="https://www.apartments.com.au/developers/raptis">Raptis</a>, led by second-generation family man Evan Raptis, has picked up a block on the corner of Surf Parade and First Avenue.

The site had been earmarked for a luxury apartment project with 33 full-floor apartments across a 37-storey tower. Raptis will go back to the drawing board and create a building more appropriate for the site. The development application will be lodged later this month.

Evan Raptis told Apartments.com.au the site ticks all the boxes.

"Broadbeach is a suburb we've developed several buildings over the years. Surf Parade ticks all the boxes for the type of apartment development we want to deliver."

Raptis had several pre-lodgement meetings with council to ensure they are aligned in the development.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="f0d58573-07a4-47a8-9f5e-fbf35fb03dc3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-05%20at%204.58.23%E2%80%AFPM.png?VersionId=iczZEd_4_o4UL0PHMPJGfy_q3tv96J5i" />

Surf Parade has emerged in recent years as one of the most popular streets in Broadbeach for development.

South East Queensland developer Mosaic Property Group kicked it off with Marella by Mosaic. Bassar Group sold out Infinity on the street, while for its&nbsp;first Gold Coast development, Polycell grabbed a Surf Parade site for <a href="https://www.apartments.com.au/new-apartments/the-rochester-broadbeach-143-surf-parade-broadbeach-qld-4218">The Rochester</a>, which is nearly sold out.

Melbourne-based developer Hirsch &amp; Faigen recently launched its fourth Gold Coast project on the exclusive strip. The Eveleigh Broadbeach will have 100 apartments across a 31-storey building designed by Rothelowman.

GV Property Group site development specialists Antonio Mercuri and Luke Reaby, who both amalgamate sites and sell shovel-ready sites to developers up and down the Gold Coast, sold Surf Parade to Raptis.

Raptis secures prime Surf Parade site for next Broadbeach apartment development

Less than two years after breaking ground, Gardner Vaughan Group is celebrating the topping out of Bask, its second development in the exclusive coastal enclave of Bokarina on Queensland’s Sunshine Coast.&nbsp;

Located only minutes from the beachfront, the two seven-storey luxury apartment towers, known individually as Mydas and Caretta, offer a selection of one-to-four-bedroom residences with views of Lake Kawana, the Glasshouse Mountains, and Bokarina Beach.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333359]

Gardner Vaughan Group Commercial Director Sam Gardner said the milestone marks the home stretch for construction, with first residents expected to be able to move in from Spring 2026.&nbsp;

“This is a significant milestone in bringing this development to life and represents our confidence in this region’s long-term growth and appeal,” Gardner said.&nbsp;

“With 85 per cent of apartments already sold, buyers are joining an established, coastal village that offers the very best of the Sunshine Coast – seasonally patrolled surf beaches, renowned restaurants, and links to established health and retail.&nbsp;

“The final collection of three- and four- bedroom apartments range in size from 127sqm to 300sqm, each with two or three secure car parks and storage, and with construction fast approaching completion we don’t expect the last few apartments to remain on the market for long.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333362]

Local restaurateur Luke Stringer, who co-owns and manages the award-winning Bocca Italian and Playa Mexican restaurants in Bokarina, has lived in the beachside suburb for 18 months and worked there for more than three years, and said the beachside suburb was thriving.&nbsp;

“It’s fair to say Bokarina is finally stepping into the sun and there’s a lot to love about the place,"&nbsp;Stringer said.

"It’s such a great community, where you see the same smiling faces every morning and everything’s within easy reach – it’s the perfect hub in the middle of the Sunshine Coast.

“When we first opened Bocca Italian, we were the lone restaurant, but it’s been amazing to see how the area has grown. The more venues that open, the busier it gets for everyone. When Playa Mexican opened its first Saturday night, Bocca had a record night and Playa was packed too, which blew us away how everyone is thriving.&nbsp;

“There’s a great energy around the place now, and people are really embracing Bokarina as a food and lifestyle destination.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363368]

Stringer joined other buyers at Bask Bokarina and the Gardner Vaughan Group team to celebrate the topping out at a special event in February.&nbsp;

Located in Kawana Waters, midway between Caloundra and Maroochydore, Bokarina locals enjoy scenic walking paths around Lake Kawana, playgrounds, beachfront boardwalk and parklands, alongside all the convenience of a masterplanned beachside community.&nbsp;

“You see people jogging or swimming in the morning, then grabbing coffee at the cafes, people are really embracing the area and all this growth is bringing more people to Bokarina,” Stringer added.&nbsp;

To take advantage of the vistas, each of the 135 apartments at Bask is designed with full size windows and high ceilings that provide an abundance of natural light.&nbsp;

Prices for the remaining three-bedroom apartments start at $1,599,000 and four-bedroom apartments start at $3,149,000.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363369]

The mixed-use development also features ground-level retail space for cafés, dining options and boutiques, including the soon-to-be-opened ‘Corner Shop’, by the team behind Noosa’s well known ‘Organika’.

Sam Gardner said Gardner Vaughan Group’s 37-year history building and developing across South East Queensland has contributed to the success of its second development in Bokarina, which follows the recently completed Zinc Apartments.&nbsp;

“We care how people live and this is reflected in the way we approach the design and delivery of every development,” he said. “Furthermore, as a builder-developer we have full control over the construction program and our 100 per cent completion rate is something people can draw confidence from.”&nbsp;

Founded by civil engineers Guy Gardner and Darryl Vaughan in 1989, the family-owned business has evolved from a consultancy firm to an award-winning builder-developer, with projects across the Sunshine Coast, Moreton Bay, Brisbane and the Gold Coast.

[smartcode_project_cta:default project_id=141609]

Gardner Vaughan Group tops out Bask Bokarina apartments

Prolific Melbourne developer <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has launched its fourth new Gold Coast development in as many years.

<a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a>, led by Daniel Faigen and backed by Eddie Hirsch, co-founder of United Petroleum, has unveiled The Eveleigh, on a prime 1,100 sqm site at 7-9 Surf Parade in the heart of Broadbeach.

<a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a> will deliver 100 apartments across 31 levels, making it the company’s largest Gold Coast project to date. It builds on the success of its three earlier developments, <a href="https://www.apartments.com.au/buildings/hemingway-1267-1273-gold-coast-highway-palm-beach">The Hemingway in Palm Beach</a> and <a href="https://www.apartments.com.au/buildings/emerson-kirra-100-musgrave-street-coolangatta">The Emerson at Kirra</a>, both completed, and <a href="https://www.apartments.com.au/new-apartments/yves-mermaid-beach-7-9-mermaid-avenue-mermaid-beach">Yves Mermaid Beach</a>, which is nearing completion.

[smartcode_project:default project_id=149670 project_image_fid=360966]

The announcement of The Eveleigh affirms the company’s sustained confidence in the Gold Coast market which continues to remain undersupplied. It also increases the value of Hirsch &amp; Fa​igen’s Gold Coast development portfolio to more than $700 million since the company first entered the market in 2021 with Hemingway.

The company has enlisted its preferred architecture firm Rothelowman to design The Eveleigh, which will offer a thoughtfully curated lifestyle, including a substantial wellness precinct, communal recreation areas, children’s play spaces, work-from-home facilities, and shared lounge and dining areas.

[smartcode_project:default project_id=149670 project_image_fid=360965]

Designed for the prime market demographic of downsizers and interstate lifestyle investors in mind, The Eveleigh has been crafted to offer an increasingly rare blend of affordable luxury in a tightly held market. Uniquely positioned in the heart of the Gold Coast’s most sought-after lifestyle suburb of Broadbeach, the project will also boast uninterrupted beach and hinterland views.

The Surf Parade site is just a short walk to the bustling Broadbeach dining and retail precinct, Pacific Fair, The Star Gold Coast and convention centre, and an easy stroll to Kurrawa Beach and the recreational amenity of Pratten Park on the Broadbeach foreshore.

[smartcode_project:default project_id=149670 project_image_fid=360975]

“We’re excited to be proceeding with our fourth project on the Gold Coast in what is certain to become the new luxury precinct in Broadbeach,” says Anthony Bueti, the CFO of Hirsch &amp;a​mp; Faigen and a shareholder of the group.

“With the likes of Mosa​ic and Abedian &amp;a​mp; Co also launching quality projects in the area, the transformation will cement Broadbeach as the premier lifestyle and amenity suburb on the Gold Coast.

"After four years in the Gold Coast market, and with three successful projects completed, The Eveleigh is the product of everything we have learned to love about the Gold Coast and it will be an incredible addition to our growing portfolio in one of the most vibrant property markets in the country. We continue to remain very confident in the high-end Gold Coast property market.”

Urban Activation Director Matt George is handling sales for The Eveleigh, having sold out The Emerson, The Hemingway, and Yves, all before construction was completed.

Melbourne builder MAXCON has already commenced construction on The Eveleigh. They are forecasting a mid-2028 completion.

[smartcode_project_cta:default project_id=149670]

Hirsch & Faigen unveils The Eveleigh in Broadbeach

Two years after securing development approval for the final stage of its award-winning Thornton Precinct on the doorstep of Penrith Station, Urban Property Group is set to launch <a href="https://www.apartments.com.au/new-apartments/mayfair-on-penrith-172-lord-sheffield-circuit-penrith-nsw-2750">Mayfair on Penrith</a>, around 400 apartments designed to reflect two of Sydney’s most iconic structures.

The builder-developer has continued refining the design plans for the two-building development on a significant 8,280 sqm site on Sheffield Circuit, recognising the importance of the prime parcel as one of the closest developable sites to the station.

UPG enlisted architecture firm SJB to design the project. The team said they drew inspiration from both the General Post Office in Martin Place and East Circular Quay to help shape the design. The two-level colonnade, in particular, reflects the famous GPO building, which dates back to the 1860s.

[smartcode_project:default project_id=136726 project_image_fid=362014]

There will be one-, two-, and three-bedroom apartments on offer, with interiors by Cox Architecture. Residences will sit above a retail podium featuring hospitality and lifestyle operators such as One Playground and Volcano’s Steakhouse, contributing to an activated ground plane within the broader Thornton precinct.

A communal rooftop with a pool and views towards the Blue Mountains will provide shared open space for residents. The development is positioned between Ron Mulock Oval and Westfield Penrith, with the Nepean River and Great River Walk also nearby, placing daily amenity and green space within walking distance.

&nbsp;

[smartcode_project:default project_id=136726 project_image_fid=362015]

Mayfair is being delivered by Urban Property Group, a family-owned developer and builder with nearly 40 years’ experience across Sydney. The project will be the first in Penrith to be offered with Resilience Insurance’s 10-year Latent Defects Insurance (LDI) policy, which Urban Property Group has adopted across a number of its recent developments. The developer also has a 4.5-star iCIRT rating, one of the best ratings in market providing further confidence to buyers.

Urban Property Group CEO Patrick Elias said providing additional assurance to off-the-plan buyers has become increasingly important.

“Anything we can do to give confidence in our product is a plus,” Elias told Apartments.com.au.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. They’re making their single large investment, which is their home, and providing confidence is something that we feel is paramount.”

[smartcode_project:default project_id=136726 project_image_fid=362020]

The LDI policy provides a 10-year warranty covering structural defects, with independent inspections carried out during construction and protection for owners if defects arise post-completion.

Mayfair represents Urban Property Group’s sixth and final development within Thornton, consolidating the masterplanned precinct immediately east of the station.

The developer, which builds its own projects, has already commenced construction. SRM Residential is handling the sales campaign.

[smartcode_project_cta:default project_id=136726]

Urban Property Group to close the curtain on award-winning Thornton precinct with Mayfair on Penrith release

New South Wales

Developer GWH has successfully completed stage two of its sold out Newcastle apartment project, SKY Residences.

The nine-level tower, which sits alongside the 19-level stage one tower which was completed in late 2021, comprises 73 apartments.&nbsp;All 189 apartments in the project havec all sold out.

GWH Managing Director Jonathan Craig says the project represents a significant milestone for the local developers.

[smartcode_project:default project_id=8430 project_image_fid=28045]

&ldquo;It has been incredible to watch our plans for this site come to life over the last few years&rdquo;, Craig said.

&ldquo;SKY Residences is our largest residential project undertaken to date. To successfully deliver such an iconic new development to the Newcastle skyline truly is a phenomenal achievement and one we are all immensely proud of&rdquo;.

Construction of Sky Residences began in October 2019.

[smartcode_project:default project_id=8430 project_image_fid=201697]

SKY includes an array of resident-only facilities including a pool, gym and the rooftop SKY Lounge, which is an indoor and outdoor entertaining space, providing panoramic views over the CBD and beyond.

&ldquo;As Newcastle locals, we have a deep understanding of the lifestyle aspects Novocastrians desire to amplify the incredible living experience this city provides,&quot; Craig added.

&quot;The feedback from our stage one purchasers has been fantastic and I can&rsquo;t wait for stage two purchasers to experience all that this iconic, new destination has to offer.&quot;

[smartcode_project:default project_id=8430 project_image_fid=201695]

GWH has been a steadfast presence across the Hunter region for over 25 years, backed by a strong track record of delivering commercial, industrial and residential projects within the area, including current works such as Newcastle&rsquo;s, ONE Apartments and Charlestown&rsquo;s Macquarie Tower, both set to start&nbsp;construction&nbsp;by the end of the year.

[smartcode_project_cta: project_id=8430]

Consisting of 73 apartments, Sky Residences Stage Two sores nine-stories into the air, alongside the 19-storey, 66-metre Stage One tower, which was completed in late 2021.



alisonwarters@gmail.com

GWH complete stage two of Newcastle's SKY Residences apartment development

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New South Wales and Victoria now account for a historically high proportion of national mortgage demand which continues to drive dwelling values much higher across these two cities compared with other regions.
The current housing market growth phase has really been all about Sydney and Melbourne.
When you look at dwelling value growth, increases have been substantially higher in Sydney and Melbourne than in all other capital cities.
At the same time, demand for mortgages has surged across NSW and Vic (both of which are proxies for Sydney and Melbourne) while it has barely increased across the remaining states and territories.
The first chart highlights the change in capital city dwelling values over the current growth phase.
The growth phase broadly began in June 2012 and over the period, only Sydney and Melbourne have recorded value rises greater than 21%.
The rise in values has been supported by low interest rates and availability of mortgage finance however, other factors such as localised economic performance, population growth and foreign demand have driven the much stronger growth in Sydney and Melbourne than across the other capital cities.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.06%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.06%20pm.jpg" alt="">
Looking at mortgage finance across the states and territories, in December 2016 the value of mortgage lending across each state and territory was recorded at: $14.5 billion in NSW, $9.6 billion in Vic, $5.1 billion in Qld, $1.6 billion in SA, $2.7 billion in WA, $0.3 billion in Tas, $0.2 billion in NT and $0.7 billion in ACT.
Over the month, NSW (41.8%) and Vic (27.7%) accounted for a combined 69.5% of the value of all housing finance commitments which was an historic high.
In June 2012 when the current growth phase commenced, 33.6% of housing finance commitments were in NSW and 27.1% were in Vic.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.19%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.19%20pm.jpg" alt="">
The value of housing finance commitments for owner occupier housing in December 2016 across the states and territories were recorded at: $7.7 billion in NSW, $6.0 billion in Vic, $3.5 billion in Qld, $1.1 billion in SA, $2.0 billion in WA, $0.3 billion in Tas, $0.1 billion NT and $0.4 billion in ACT.
Since the current value growth phase commenced in June 2012, monthly mortgage lending to owner occupiers has increased from $4.3 billion in NSW and $3.9 billion in Vic.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.29%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.29%20pm.jpg" alt="">
In December 2016, the value of mortgage lending to investors across the states and territories was recorded at: $6.8 billion in NSW, $3.7 billion in Vic, $1.7 billion in Qld, $0.5 billion in SA, $0.7 billion in WA, $0.1 billion in Tas, $0.1 billion in NT and $0.2 billion in ACT.
More than three quarters (76.3%) of investor mortgage finance nationally in December 2016 was in NSW (49.6%) or Vic (26.7%).
While the proportion of lending to investors has previously been higher in each state, combined they make up the largest share on record.
At the beginning of the current growth phase, 37.3% of national investor finance commitments were in NSW and 25.1% was in NSW.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.42%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.42%20pm.jpg" alt="">
The data shows just how concentrated mortgage demand nationally is currently in NSW and Vic.
With the demand focused so much on those two states, it’s no wonder values in Sydney and Melbourne have increased so much more than in the other capital cities.
While steps have been made to cool mortgage demand, particularly from investors in Sydney and Melbourne, the data points to the fact that demand remains unquestionably strong.
With interest rates remaining at close to historic lows, it is clear that further changes will be required in order to slow mortgage demand and dampen the increases in dwelling values being experienced in Sydney and Melbourne.
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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ckusher-ujnxiKuFQs

Mortgage demand has surged in New South Wales and Victoria: Cameron Kusher

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Frasers Property’s new $2.3 billion dollar beach-side community Shell Cove, is one step closer to reality with the launch of an Expressions of Interest campaign seeking a best-in-class publican to operate its focal point harbourside social tavern.

Located adjacent to the new Shell Cove Harbour and 270-berth marina, the 1,086 sqm tavern will extend over the new public boardwalk and offer unobstructed views of the Shell Cove harbour and surrounding scenery.

The Tavern is intended to combine its stunning setting with busy local patronage to create a new destination in the same spirit as iconic Sydney coastal taverns like The Pavilion at Coogee, The Clovelly Hotel, and Icebergs at Bondi.

Additionally, it will form an integral part of this new community, offering both residents and visitors the best in Australian hospitality.

The Shell Cove precinct is quickly becoming a new focal point within the Shellharbour area, which is expecting significant growth of 23% in population to 2036.

Fitting with the community-focused nature of the precinct, the Tavern has been designed to offer a full variety of social spaces for all ages.

It will include a family bistro area, informal indoor and outdoor seating spaces, private dining areas, open plan kitchen with fireplace seating, as well as a sports bar with TAB and gaming room.

The Tavern is part of the wider social and recreational heart of the Shell Cove precinct, known as The Waterside. Situated around the harbour and marina, The Waterside offers specialty shops, marina-edge restaurants, a hotel, children’s beach, water play areas, library, community centre, retail precinct, as well as hosting the Tavern.

<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/180115fra0826thesailsapartmentss170marinar04finalweb.jpg" rel="gallery-all" title="A visualisation of Shell Cove's under construction &quot;The Waterfront&quot; town centre. "><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/180115fra0826thesailsapartmentss170marinar04finalweb.jpg?itok=nDhsdDs2" title="A visualisation of Shell Cove's under construction &quot;The Waterfront&quot; town centre. " width="580"></a>

<figcaption>A visualisation of Shell Cove's under construction "The Waterfront" town centre. Image: Frasers Property</figcaption></figure>The precinct fits Shellharbour Council’s vision to balance the area’s significant natural beauty with the needs of a growing community.

Led by Frasers Property Australia and their rich accumulated experience operating in Australia for more than 90 years, the Shell Cove precinct continues the firm’s expertise in delivering places that foster happier, healthier and more connected communities.

Reflecting this commitment to socially successful communities, Frasers Property’s Shell Cove Development Director Glenn Colquhoun highlights the firm’s focus on creating a vibrant and connected town centre, acknowledging “a town’s tavern has always been its heartbeat - a place for resident and visitors to eat, drink and relax while enjoying their surroundings.”

He goes on to note, “Shell Cove is a family focused community and the tavern will be a place for the whole family to enjoy. It’s another piece of the truly mixed-use precinct at The Waterfront, Shell Cove that will serve locals for generations to come.”

It seems Shell Cove is set to become a major regional attraction and the Tavern is it’s social nexus. The Tavern is offered as a freehold investment and is expected to be completed by 2021.

<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/tavern_cgi1_eastview_005_web_1.jpg" rel="gallery-all" title="Shell Cove's social centrepiece &quot;The Tavern&quot; cantilevers over the harbour-side boardwalk, affording patrons unobstructed views of the Illawarra Coast's world-class scenery."><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/tavern_cgi1_eastview_005_web_1.jpg?itok=A7NeBg52" title="Shell Cove's social centrepiece &quot;The Tavern&quot; cantilevers over the harbour-side boardwalk, affording patrons unobstructed views of the Illawarra Coast's world-class scenery." width="580"></a>

<figcaption>Shell Cove's social centrepiece "The Tavern" projects over the harbour-side boardwalk, affording patrons unobstructed views of the Illawarra Coast's world-class scenery. Image: Frasers Property</figcaption></figure>
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ModernBradfield

Shell Cove on NSW's Illawarra Coast a step closer to reality

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EXPERT OBSERVATION
The prevalent practice of property investment firms sharing undisclosed kickbacks amongst the supply chain involved in development sales will be outlawed in NSW on 1 July this year under the Real Estate Reform being handed down by regulators in NSW. 
The conflict of interest frequently arises when a mortgage broker, accountant or financial planner receives part of the commission from the property firm, who receive their fees from the developer or seller. 
As such, this puts the broker into a position by which they are being paid on both sides of the fence. From the activities the undertake on behalf of the buyer and again from the filter down of fees from the seller. Until now this has been a grey area and there was nothing stopping this practise. 
For decades, property investment firms have been recommending off- the-plan properties to investors and receiving commissions or kickbacks from developers, and passing those on to referrers. 
Property investment firms commonly pass some of their commission on to the mortgage broker, accountant or financial planner as a reward to them for passing on the referral. This means that many brokers or financial service providers are making significant amounts of money just to refer on to a property firm, often totalling hundreds of thousands of dollars a year.
New property industry reform Property, Stock and Business Agents Amendment (Property Industry Reform) Bill 2017 will be in force from July this year and will prohibit this practise, unless the broker or referring partner also holds a real estate industry license. Which will be a full Diploma course as of July. 
Under the new laws, if the broker takes a referral fee from the property firm, they will have to be a licensed real estate agent and also hold a Corporation’s license under the ACT. Subsequently, every transaction that they receive a referral fee from they will be putting their license up against the transaction and taking full liability for the conduct, practises and outcome of that transaction, ever if they have little to do with the transaction, they are a party to it financially and therefore take as much risk as everyone else in the transaction.
Some well-known mortgage broking firms openly admit to receiving $5,000-$10,000 per referral in their pocket. This is effectively a conflict of interest as the buyer is a client of the brokers, but the fee that comes down from the investment firm is from the seller - the developer.
Assuming in some circumstances a broker may also hold a real estate license, under the legislation this raises issues around the ethics of receiving fees to act on the buyers’ behalf as their broker but then receiving a fee from the property firm who get their fees from the seller or developer.
So, if a referrer does hold a real estate license, and does receive a part of the sale commission, they may find themselves in breach of the ethical requirements under the act.
Anna Porter is the founder of Suburbanite. She is a property valuer, investment adviser, property market commentator and author of Whistle<a class="OWAAutoLink" href="https://suburbanite.us8.list-manage.com/track/click?u=7a39cb442b7616568d1d3fe0f&amp;id=20aa9e77e0&amp;e=342d2b93ab" target="_blank"> </a>Blower.
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jrobinson-rf4aSBido9

Common broker practise now outlawed: Anna Porter

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GUEST OBSERVATION
The previously unregulated short-term letting industry in NSW has just seen some big changes and investors are being warned to watch out. Regulations to Airbnb were going to happen eventually, but on Tuesday the wheels were finally set in motion.    The game changer that has occurred and why Airbnb now only makes sense for home owners and not investors.     Airbnb are going back to their grass roots in NSW.   Originally the platform was set up for people who wanted to rent out some spare rooms in their own home as an alternative to backpacker accommodation for travellers, thus allowing home owners to make some spare cash.   The Airbnb platform has since been exploited and has become the short-term accommodation platform for investors to maximise profits.   Without proper regulation and no barriers to entry this has resulted in many complaints from local communities and a need for government and other regulators to step in.   Regulators have stepped in and the regulations are being deemed as "the toughest laws in the world to crack down on bad behaviour” by Better Regulation Minister Matt Kean for good reason.   Many investors are left screaming “what about our returns” but I've been cautioning Airbnb investors for many years on investing in a new to market concept that has always been very unregulated.     If you're going to invest hundreds of thousands into an industry in its infancy, you need to have an appetite for risk and be prepared that it may not last long.   Investors should have assessed their numbers based on long term rentals as well and ensured they were still able to afford their investment, without a supplementary Airbnb income.   We saw so many people jump on the band wagon without really understanding the risks associated with it.   This might only be rolling out for Sydney at the moment, but it is setting a benchmark for other locations to follow. Councils like Byron Bay have been threatening tighter regulation in this sector for a while now and are also heading down this path.    The regulations follow other countries like Japan where in recent weeks only 13,800 properties were left on the platform after an estimated 68,000 properties removed almost overnight when regulatory changes came into play.    The market has seen an oversupply of property in many locations resulting in downward pressure on pricing and Airbnb hosts having to take lower fees to avoid vacancy and bigger group bookings to make up the numbers.    Don’t think that this is exclusive to Airbnb, this will impact all short-term accommodation platforms ‘like Airbnb’ but the likes of stays and <a href="http://bookings.com/">bookings.com</a>will also come under the same scrutiny.   The property market, in Airbnb hotspots will see more properties being taken from the short-term rental market and moved over to long term leases and even some investors pulling the pin altogether as a follow-on effect from the regulation.   Some investors will not want to conform with the legislation and will have to put their property on the market, as many of the properties are set up as rentals only and not in an area that the owner of the property resides.   Some property owners simply can’t adapt and will have only two options, a long-term lease with significantly lower returns, or to sell.   The policy is set to be reviewed in 12 months’ time.   This regulation really only starts to scratch the surface of some of the issues in the short term letting sector. Many property owners are renting out rooms or whole homes without consideration given to the safety of the occupants.   We see many properties that are not compliance with fire regulations, pool safety, building codes, railing heights on balcony’s, and many other safety hazards that put occupants, including families with children at risk. If you rent our a property on a long term lease, or you are a commercial hotel venture you need to be compliant. But this sector of the DIY hotel space has continued to circumvent their obligations to other peoples safety. It wont be long before this too comes into the spotlight, and so it should.
Anna Porter is a property commentator and valuer at <a href="https://suburbanite.com.au/" target="_blank">Suburbanite</a>. 
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Here's what Airbnb's whirlwind changes mean for investors - and it sucks

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The terminus station on the Sydney Metro Northwest which will open next year has been renamed to Tallawong, a word of local significance that's derived from the Dharug word 'dalawang' for apple gum tree.

The station until this point has been known as Cudgegong Road and is seeing significant amounts of new development projects proposed within the new station's environs.

As you might expect for an outer suburban station, Tallawong will have a 1,000 strong commuter car park and will also include various bus and kiss-and-ride bays as well as parking and storage for 55 bicycles.

All other station names on the Sydney Metro Northwest have been confirmed according to a NSW Government media release.

Tallawong will serve the outer growth area of <a href="/new-apartments/rouse-hill-nsw-2155">Rouse Hill</a> and The Ponds and developers in the area have answered the call and invested in building significant density around the new train station.

The Apartments.com.au database is showing 7 projects within walking distance of the under construction station.

Those projects collectively have a whopping 1,895 residential units at various stages of the development pipeline.

<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/image125_2.jpg" rel="gallery-all" title="49 Terry Road, Rouse Hill"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image125_2.jpg?itok=N2UzzKHu" title="49 Terry Road, Rouse Hill" width="580"></a>

<figcaption><a href="/new-townhouses/collection-rouse-hill-49-terry-road-rouse-hill">49 Terry Road, Rouse Hill</a></figcaption></figure>4 of the projects with a total of 930 dwellings are currently being assessed by local councils and there are 2 projects which have been approved with 831 dwellings.  

A single project is under construction with 134 dwellings soon to be added to the local market.

We'll take a look at other new outer suburban stations on the new Sydney Metro in time, however, there is a distinct pattern: the public and private investment into the new Sydney Metro is certainly producing the goods when it comes to what should be built next to new stations.

We're currently still in build-up mode in terms of projects outside of Melbourne on the Apartments.com.au database but with over 600 already present from New South Wales we expect our own numbers will be superseded fairly soon.

In light of the Great Cities research released by the Property Council of Australia, who needs offshore examples of changing the way we develop cities when the country has a live one right on our doorstep?

Lead image credit: <a href="https://www.sydneymetro.info/news">Sydney Metro</a>.
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Alastair Taylor

Terminus station on Sydney Metro Northwest renamed

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Darlinghurst design practice Cottee Parker JPRA has emerged as the successful firm behind developer Landmark Group Australia's latest Sydney apartment project.

Having entered planning during mid April, the application seeks to transform an underutilised Waterloo site into an enclave of 139 apartments. Holding an estimated development cost in excess of $43 million, the intended project consists of two mid-rise residential buildings across an expansive 4,980 square metre site.

Adjoining a mid-rise residential build recently completed by Henley Constructions, the existing low-rise commercial complex onsite would be make way for Landmark Group's development.

The site in question was offered for sale via a Colliers International campaign held during late 2017. Stage 1 Development Approval was already in place, allowing for a Total Gross Floor Area of 10,956 square metres for the site which forms part of the burgeoning Green Square Town Centre precinct.

<h2>219-231 Botany Road, Waterloo application summary</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/image170.jpg" rel="gallery-all" title="The development's intended courtyard. Image: Cottee Parker JPRA"><img alt="" class="image-article-full-width-580px" height="281" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image170.jpg?itok=qzn__Y5B" title="The development's intended courtyard. Image: Cottee Parker JPRA" width="580"></a>

<figcaption>The development's intended courtyard. Image: Cottee Parker JPRA</figcaption></figure><ul>
<li>Site area: 4,979.8sqm with 1 frontge</li>
	<li>Part 6, part 7 storey development: 21.7m at highest point</li>
	<li>139 apartments: 51 x 1BR / 69 x 2BR / 19 x 3BR</li>
	<li>115 car parking spaces over 2 basement levels</li>
	<li>2 retail tenacies: 255sqm</li>
	<li>In excess of 800sqm of common green areas</li>
	<li>Proposed FSR 2.19</li>
	<li>Proposed GFA: 10,885sqm</li>
</ul>
A range of apartment formats are included within the proposal, ranging between 50-99 square metres. Each building can expect between 5 and 8 dwellings per floor.

At ground level an expansive garden area is situated between the proposal's respective building wings, with further deep planting and open lawn areas expected along the western boundary of the site.  A public art wall will be integrated as part of the Botany Road frontage.

For Landmark Group the Waterloo application shapes as their latest in a 20 year development history, and adds to the <a href="http://landmarkgr.com/our-projects/">numerous projects</a> the developer has undertaken in recent times.

<h2>Cottee Parker JPRA succeed</h2>

A quartet of architecture firms vied for the Botany Road site via an invited design competition; they were DKO Architecture,  WMK Architects and PBD Architects along with Cottee Parker JPRA.

The competitive design process saw Cottee Parker JPRA succeed due to their scheme which was judged to best demonstrate the ability to achieve design excellence. Cottee Parker JPRA was also the only submission "where the advice and input of a Landscape Architect was apparent in the overall resolution of the project".

The proposals which failed to make the cut varied significantly from one another. WMK Architecture's scheme presented as almost corporate in style to Botany Road, with heavy reliance upon brick finishes for internal facing facades.

PBD Architects' scheme was heavily reliant upon horizontal bands whilst DKO Architecture's was atypical in that vaulted archways were a clear design highlight to Botany Road.

<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/image174_0.jpg" rel="gallery-all" title="WMK above, PBD and DKO's arched concept"><img alt="" class="image-article-full-width-580px" height="555" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image174_0.jpg?itok=lzSs6uJo" title="WMK above, PBD and DKO's arched concept" width="580"></a>

<figcaption>WMK above, PBD and DKO's arched concept</figcaption></figure>
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silvermb

Landmark Group aligns with Cottee Parker JPRA for its upcoming Waterloo development

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One year out from the next New South Wales election, the NSW Government has announced that Westmead will feature on the second metro line that at this early stage is having its corridor refined.

Dubbed Sydney Metro West, the aim is to add more passenger capacity between the Sydney CBD and Parramatta with intermediate stops along the line offering connection opportunities.  

Exact travel times are not yet set in stone, given the corridor planning's fluid state, but the Premier of New South Wales, Gladys Berejiklian, said Sydney Metro West will be the fastest journey between the two major centres.

<blockquote>
Sydney Metro West will become the fastest, easiest and most reliable journey between the Sydney and Parramatta CBDs, which could be as little as 20 minutes.

We have been working hand-in-hand with the community on Sydney Metro West and we have taken on board feedback to make it an even greater infrastructure project for greater Western Sydney
<cite>NSW Premier Gladys Berejiklian</cite>
</blockquote>

The Sydney Metro is an operationally-independent railway utilising driverless trainsets with its first phase ('Sydney Metro Northwest') set to enter service in 2019 between Cudgerong Road in Rouse Hill and Chatswood. 

The project's second phase ('Sydney Metro City &amp; Southwest') which involves building a new rail crossing under the harbour and new tunnels running north-south under Sydney's CBD achieved planning approval in January 2017.

The second phase of the metro line will also involve converting a portion of the existing Bankstown line for the exclusive use of new driverless metro trains.

Once both phases of are complete, the railway will be 66km in length and provide rail commuter services from Sydney's outer North West through major nodes on the northern and southern side of the harbour through to Bankstown in Sydney's south-west.

The NSW Government also announced the new Sydney Metro West will have a station either at Concord or North Strathfield in order to allow passengers to interchange between the Northern line and faster Sydney CBD or Parramatta services on the new metro line.  

The Westmead and North Strathfield/Concord statements are on top of the already announced station locations at The Bays precinct, Sydney Olympic Park and still as-yet defined stations in the Sydney CBD and at Parramatta.

Further community consultation will continue as it's expected more station locations will be announced with Camellia/Rydalmere, North Burwood/Five Dock, Kings Bay and Pyrmont mentioned as possible locations.

A map published on the project's website shows potential extensions of the second metro line both eastward and westward.

<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/syd_metro_west_map.jpg" rel="gallery-all" title="The scope of the first stage of Sydney Metro West - image: Sydney Metro"><img alt="" class="image-article-full-width-580px" height="297" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/syd_metro_west_map.jpg?itok=zwAJ6YAd" title="The scope of the first stage of Sydney Metro West - image: Sydney Metro" width="580"></a>

<figcaption>The scope of the first stage of Sydney Metro West - image: <a href="https://www.sydneymetro.info/west/project-overview">Sydney Metro</a></figcaption></figure>
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NSW government announces Westmead will be a stop on the new Sydney Metro West

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Regional localities in New South Wales are returning property investors with the highest gross rental yields across the state.
Figures show investors at the entry level of the market can still anticipate a gross rental yield of between 7 percent to 14 percent.
Broulee on the New South Wales south coast topped the list, with a gross rental yield of 14 percent, clearly buoyed by holiday lettings often at $1,200.
It comes with a median house price of $456,250.
There are some mining towns on the list too.
 
New South Wales highest-yield localities
<table border="0"><tbody>
<tr>
<td>Locality</td>
<td>Median Price</td>
<td>Quarterly growth</td>
<td>12-month growth</td>
<td>Weekly median advertised rent</td>
<td>Gross rental yield</td>
</tr>
<tr>
<td>Broulee</td>
<td>$456,250</td>
<td>3%</td>
<td>4%</td>
<td>$1,200</td>
<td>14%</td>
</tr>
<tr>
<td>Bawley Point</td>
<td>$562,750</td>
<td>1%</td>
<td>16%</td>
<td>$1,395</td>
<td>13%</td>
</tr>
<tr>
<td>Broken Hill</td>
<td>$106,000</td>
<td>6%</td>
<td>-4%</td>
<td>$230</td>
<td>11%</td>
</tr>
<tr>
<td>Malua Bay</td>
<td>$470,000</td>
<td>6%</td>
<td>7%</td>
<td>$1,000</td>
<td>11%</td>
</tr>
<tr>
<td>Sussex Inlet</td>
<td>$420,000</td>
<td>2%</td>
<td>14%</td>
<td>$875</td>
<td>11%</td>
</tr>
<tr>
<td>Warialda</td>
<td>$142,500</td>
<td>3%</td>
<td>-3%</td>
<td>$240</td>
<td>9%</td>
</tr>
<tr>
<td>Wellington</td>
<td>$141,000</td>
<td>-3%</td>
<td>4%</td>
<td>$228</td>
<td>8%</td>
</tr>
<tr>
<td>Tomakin</td>
<td>$409,000</td>
<td>4%</td>
<td>14%</td>
<td>$650</td>
<td>8%</td>
</tr>
<tr>
<td>South Kempsey</td>
<td>$163,750</td>
<td>1%</td>
<td>-17%</td>
<td>$260</td>
<td>8%</td>
</tr>
<tr>
<td>Tuross Head</td>
<td>$405,000</td>
<td>7%</td>
<td>17%</td>
<td>$635</td>
<td>8%</td>
</tr>
</tbody></table>
A <a href="https://www.realestate.com.au/property-house-nsw-broulee-125533490" target="_blank">three bedroom home in Broulee</a> (above) is on the market for $540,000.
It last traded for $59,000 in 1993.
A <a href="https://www.realestate.com.au/sold/property-villa-nsw-broulee-124806938" target="_blank">three bedroom</a> villa in Broulee (below) sold for $430,000 in March.
<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/2017/05/29/41A%20Train%20Street.jpg" alt="">
A <a href="https://www.realestate.com.au/property-house-nsw-broulee-420868482" target="_blank">three bedroom home</a> (below) that last sold for $357,000 in 2015 is up for lease at $380 a week, offering a five percent yield.
<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/2017/05/29/Broulle.jpg" alt="">
A three bedroom <a href="https://www.realestate.com.au/property-house-nsw-broulee-415537219" target="_blank">holiday home</a> in Broulee can rent up to $1,800 a week during peak holiday season.
It last traded for $175,000 in 2011.
For the median price at Broken Hill a two bedroom home such as the one at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-122329398" target="_blank">140 Bromide Street</a> (below) that was sold for $107,000.
<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/2016/11/24/140%20Bromide%20Street.jpg" alt="">
 
 
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j.ballantyne1990-6AQqhLzZaK

Holiday lettings puts Broulee atop NSW's top 10 regional rental yield locations 

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An expansive country estate in Jamberoo, New South Wales has been listed for sale with a price guide of $2.78 million.
The seven bedroom residence known as Christmas River at <a href="https://www.eldersrealestate.com.au/residential/buy/property-house-nsw-jamberoo-682799" target="_blank">317 Jerrara Road</a> features a warm and inviting farmhouse design.
<img src="https://www.urban.com.au/images/2017/05/19/rsz_jerrara.png" alt="">
Jamberoo is a small, historic village located 90 minutes to Sydney and 5 minutes to Kiama's beaches.
The area has a median house price of $872,500, according CoreLogic.
A four bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-jamberoo-124718026" target="_blank">91 Riversdale Road</a> sold recently for $1.3 million.
The two-storey Christmas River home offers four bathrooms, an office or guest bedroom, chef’s kitchen with butlers pantry, central dining room, theatre room, winter room, multiple fireplaces and lush rural views from every room.
<img src="https://www.urban.com.au/images/2017/05/19/rsz_1jerrara1.png" alt="">
Set on 4000 sqm, the property comes with landscaped gardens, pool, ivy covered equipment cottage, rivers edge gazebo, tree house, orchard with free range chicken garden and coop, pizza oven, BBQ area and an alfresco dining verandah.
Elders Real Estate Jamberoo agent Vivienne Marris has the listing.
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