Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

<html><body>
Conjoined Merran Vale and Cooinda Park properties at Barham in the Murray River district are on the market through Ruralco Property agent Andrew Miller.
Vendors Ivan and Ann Chandler are set to retire.
They purchased the original Merran Vale property in 1980.
About eleven years ago the neighbouring Cooinda Park property came on to the market and was purchased by the Chandler’s.
The properties have a freehold area of 1,143 hectares plus further significant lease country.
<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/2017/08/02/RURALCO%20MERRAN-COOINDA%20CREEK.jpg" alt="">
A Poll Hereford and a Border Leicester stud has been run n conjunction with a merino sheep grazing operation.
A significant portion of the holdings, about 1,290 acres, are laid out to flood irrigation of which 900 acres were laser levelled using a local land forming contractor.
There is a 774 megalitre NSW general water sale entitlement.
The property has two pumps one electric, one diesel on the Little Murray River which adjoins the forest lease.
There is also another electric pump on Merran Creek.
The lease country is also significant including 99.4 hectares (or 245 acres|) that is held under perpetual lease.
<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/2017/08/02/RURALCO%20MERRAN-COOINDA%20INFRASTRUCTURE.jpg" alt="">
Another 1,456 hectares (or 3,600 acres) of river country forest between the two holdings is held under an annual forest lease.
The Merran Vale-Cooinda Park aggregation has hay and machinery sheds and general shedding with a three-stand shearing shed, plus two sets of steel sheep and cattle yards.
The main Merran Vale homestead is a spacious three bedroom concrete home in a classic rural style with surrounding verandas that has recently undergone a $100,000 refurbishment including new roofing, kitchen, bathroom and services. 
It has substantial rainwater storage and presents as sound liveable family accommodation.
On the Cooinda Park portion is another three bedroom timber home in a rural setting that could suit a family member or as a manager’s residence.
Ruralco Property selling agent Andrew Miller said that the nearby village of Barham with a recent Census population of 1,100 plus with twin town Koondrook opposite across the River offer good services and an active local community with the two properties collectively known as 1019 Gonn Road having bitumen road access.
“This is a classic River Murray country property with strong livestock and cropping enterprises nearby, plus some recent new intensive horticulture activities established locally in recent years," he said.
“Vendor Ivan Chandler has worked on the land since he left school at fourteen years of age but he is now seventy six and has farmed strongly all his life overcoming some physical disabilities and he rightly says it’s time to retire.
<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/2017/08/02/RURALCO%20MERRAN-COOINDA%20SIGN.jpg" alt="">
“He reckons a few acres with a couple of cows will serve him well into the future.
“The auction of the conjoined Merran Vale and Cooinda Park properties at Barham presents a once in a generation opportunity for a new owner as either an agribusiness investment or diversification’ or for a strong farming family to acquire a unique large holding with unlimited potential in a strong well held district.
“I would access its inherent land value at well north of $1,000 an acre.
“With the auction scheduled for Thursday 7 September interested parties have plenty of opportunity to inspect, formulate their own plans and budgets ready to act on a farming opportunity of significance” Andrew Miller says.
The property will be offered at auction at the Barham Club on Thursday 7 September at 2 pm.
</body></html>

j.ballantyne1990-6AQqhLzZaK

River Murray District Merran Vale and Cooinda Park properties listed

<html><body>
A new industry body has been launched to aid government and industry to streamline planning processes, develop effective policy to reduce housing costs and increase housing supply.
The Housing Supply Association was launched by the NSW Minister for Planning and Housing, Anthony Roberts.
Properties will be made available for purchase and rental through the HSA, with caveats placed on sales to first homebuyers to ensure they are not on-sold for profit.
Minister Roberts has welcomed HSA’s commitment to help break the cycle of the spiralling property market, which slams the door on many new first homebuyers and prevents key workers living where they work.
“The NSW Government is committed to working with businesses, organisations and local communities to address housing affordability and those who are most disadvantaged in buying their first home, or renting where they live,” he said.
“I commend the formation of the not-for-profit Housing Supply Association to assist in tackling these challenges and look forward to working hand-in-hand with all participants to break down the barriers for future generations of new home owners and renters and helping key workers to live where they work.”
The HSA will also work with government and industry to secure property exclusively for those who need it most, many properties at potentially 20 – 30% below market value.
Property allocation will also focus on ex- servicemen and women and people with disabilities.
Aras Labutis, HSA Vice President said Australia was at a crossroads in addressing housing affordability for the average wage-earner.
“I am proud to be part of the HSA’s collaboration with government, councils and key stakeholders to deliver the first major positive intervention to address this serious social issue,” he said.
“This is the only holistic, industry-driven solution to deliver real outcomes for first homebuyers and key workers, such as the police, ambos and fire services who look after our communities 24/7.
“The HSA’s purpose is to increase affordable housing supply as part of an industry-wide response to a problem that now desperately needs action, not words.”
"Suitable developments for the HSA’s target market are underway or in the pipeline.
"One major property provider has already committed 20 percent of a new development to the HSA for affordable housing.
“We have consulted those groups facing hardship, and the current housing situation disadvantages many of the most valued members of our community.
“We need to increase supply of housing, and we need to look after those who need it most.
“We have tested our approach with government and the key worker Associations and they like the process.
“I would like to thank the NSW Government for their support and commitment of this important initiative.
“Without the collaboration of industry and support of Minister Roberts and the NSW Government our plans to address this crisis would not be possible.”
</body></html>

Housing Supply Association formed to tackle housing crisis

<html><body><div class="WordSection1">
When does the duty exemption for NSW first home buyers apply?
The exemption for first home buyers will apply to contracts executed on or after 1 July 2017 for properties up to $650,000.
For properties valued between $650,000 and $800,000, duty concessions will apply.
Are there any changes for vacant land?
There are no changes to the cap for vacant land.
Does this apply only to new homes?
No, the exemption applies to new and existing homes purchased by first home buyers.
Does the 1 July 2017 date refer to the date the contracts were exchanged or settled?
The 1 July 2017 date refers to the date the contracts were exchanged.
Does a first home purchase refer to a first investment home purchase or the first owner-occupied home purchase?
First home purchase refers to the first home you purchase which you must occupy for a continuous period of 6 months, commencing within 12 months of settlement.
I have just settled, what can I do to get the benefits?
If you settled before 1 July 2017, you are only entitled to the benefits that were available at that time. Please check our website for more information.
Can I rescind the contract and enter into a new contract after 1 July 2017 and get the new benefits?
As your contract is already executed, you are liable to pay duty. If you rescind and enter into the contract for the same property after 1 July 2017 you will not be eligible for the new benefits.
My client has just exchanged contracts and is in the cooling off period. Can we rescind under the cooling off provisions and re-exchange later?
As your contract is already executed, you are liable to pay duty. If you rescind and enter into the contract for the same property after 1 July 2017 you will not be eligible for the new benefits.
My contract is dated before 1 July 2017. Are these changes retrospective?
No, the changes to the First Home Buyers Assistance scheme are not retrospective.
Does this mean yet another form? Will we need to complete another Declaration or a Statutory Declaration?
No additional forms are anticipated at this stage. However some existing forms will need to be modified and in the case of the new scheme the old form will be replaced with a new one.
If the parties entered into a Put &amp; Call option before 30 June 2017 to be exercised after 30 June 2017, would the purchaser be able to claim the exemption (or reduction as applicable) or would the Option be the determining date?
If the exercise of the option occurs on or after 1 July 2017, you will be able to claim the new exemption or reduction.
</div></body></html>

The NSW first home buyers July 1 countdown

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
GUEST OBSERVER
One of the most significant and far-reaching retail legislative changes will quietly come into effect in New South Wales on 1 July 2017.
The amendments to the Retail Leases Act of NSW are numerous and in essence, will change the dynamics of retail leasing as we know it.
</div>
</div>
<div class="layoutArea">
<div class="column">
Of the many changes being made, the change I believe that will have the biggest impact on the sector is the requirement for all leases under the Act, over three years in length, to be registered within three months from leases being signed. This will increase transparency in the sector and help to continue levelling the playing field between tenants and landlords. 
Even more transparency will result with the change that requires Landlords to accurately disclose and estimate outgoings in a Disclosure Statement, failing which, that outgoings will not be recoverable. 
The removal of the requirement for a minimum five-year lease term in the new Act will likely result in both longer and shorter-term leases. This is a positive for the market as it will allow greater flexibility in this volatile and ever-changing market. 
Also included in the Act is a change to how bank guarantees need to be handled. Once the Act is in place, Landlords will be required to return bank guarantees to the tenant within two months after the tenant completes performance. 
Another change for landlords means they will no longer be able to request online sales revenue information from tenants, except for goods delivered from the premises or where the centre or the transaction takes place while the customer is in the premises. 
Redundant manual processing of rental bonds will be replaced with a change to the Act that will see the rental bond scheme move to an online platform cutting out the need for physical documents to be lodged. 
Another change includes increasing the penalty notices for offences. These include the right to compensation if a landlord fails to provide a disclosure statement within seven days before the lease is entered into or if it is misleading or incomplete. 
The amendments to the Act will create a more transparent and balanced retail leasing market, enabling greater flexibility and operational efficiency for both tenants and landlords, in a sector that is undergoing significant cyclical and structural change. 
Simon Fonteyn is Managing Director, Leasing Information Systems and can be <a href="https://www.leaseinfo.com.au" target="_blank">contacted here</a>.
</div>
</div>
</div></body></html>

jchancellor-FAypfDUnLy

Amendments to the Retail Leases Act of NSW looming

<html><body>
The abolition of the off-the-plan transfer duty concession deferral scheme for residential investors in the NSW State Budget will recoup $380 million in a one off annual fillip next financial year.
Investors will then pay another $110 million in 2018-19 ahead of schedule, the NSW treasury papers indicate.
The OTP stamp duty was always going to be paid by investors, but the decision brings forward its payment.
The concession for residential off-the-plan purchases, which allowed for a delay of up to 12 months in the payment of duty, has been amended to allow the government's focus on first home buyers.
The state's finances continue to benefit from Sydney's property boom.
The Government will reap $6.8 billion in residential stamp duty revenue in 2016–17, an increase of almost 10 per cent on the previous year, thanks in part to the strong performance of Sydney's property market.
All the big property decisions were actually announced before today's budget.
The doubling of the foreign investor from four per cent to eight per cent on stamp duty and a rise from 0.75 per cent to 2 per cent on foreigner land tax is forecast to secure $180 million in its first year.
Privatisations have turbocharged NSW finances, with Treasurer Dominic Perrottet announcing a surplus when he delivered his first budget today.
He describing his first state budget as "the envy of the western world."
"Surpluses shield us from difficulties and challenges that may lie ahead. We're [forecasting] 75,000 new homes in the next 12 months; we are about to embark on a housing construction boom," said Mr Perrottet when asked about his level of confidence against the backdrop of a housing crash speculation.
With much foreshadowed, the biggest new announcement on Tuesday was spending on hospitals, with $720 million to upgrade the Prince of Wales Hospital at Randwick.
It added to $632 million for the Campbelltown Hospital, $534 million for Tweed Hospital; $576 million for Nepean Hospital; and $341 million for Concord Hospital that had all been previously announced.
Stamp duty revenues are still edging towards $10 billion annually for the ever increasing property tax-dependent NSW State Government coffers.
Residential stamp duty was up 9.6 percent in the current financial year to $6.8 billion, and will ease to 5.9 percent growth next financial year. Treasurer Perrottet expects transfer duty revenue to continue increasing but at a slower growth rate - down to 4.2 per cent by the 2020-21 financial year. Total transfer duties sit at $9.6 billion.
The budget confirmed first home buyers in New South Wales will be able to buy property up to $650,000 without having to pay stamp duty. 
The policy, which will apply to new and existing homes, will start from July 1 in an attempt to combat the housing affordability issue by the NSW State Government. It will cost $187 million next financial year rising to $310 million in 2019.
The cap had previously been set at $550,000 for first home buyers on  new homes.
Homes up to $800,000 will also see a discounted stamp duty.
Up to $34,360 will be saved under the package, according to the government.
The budget papers reveal that property development companies that are foreign-owned but based in Australia will not be taxed as foreigners  and will be eligible for a refund if they sell their developed properties within five years.
The budget papers confirm the 2016-17 surplus is $856.9 million higher than forecast in last year's budget, largely to stamp duty revenues from the part-privatisation of electricity companies Ausgrid and Endeavour Energy.
The NSW Government will spend more than $720 million over the next four years to address the key issue of housing affordability.
“Our number one priority as a government is to get more houses built and to market to help make new homes more affordable,” Minister for Planning and Housing, Anthony Roberts said.
“We are working on many fronts to make owning a home a reality for more people, by streamlining and simplifying the planning system so housing approvals can be fast-tracked and are continuing to release and rezone more land.
The 2017-18 NSW Budget includes $117.8 million over four years of new investment to deliver infrastructure, housing and employment initiatives, review land use and infrastructure strategies for priority growth areas and implement regional plans.
</body></html>

Property investors lose out in NSW State Budget

<html><body>
A historic pub in Macarthur region’s Picton on the south-western edge of Sydney, has sold for an undisclosed sum through Ray White Hotels.
The George IV Inn was scheduled for auction on May 31.
The 174 Argyle Street property is one of the oldest pubs in NSW, built by convict labour in 1835. It is one of the only two pubs in town.
It last changed hands for $1.2 million in 2011, according to RP Data.
It was recently damaged by floods and needs repairs, according to its description by selling agency Ray White Hotels.
The freehold property has multiple bars, micro-brewing facilities, kitchen, function space, gaming room &amp; nine PMEs.
It has a land area of 7,174 sqm with ample parking &amp; enormous upside
Blake Edwards and Tony Braham of Ray White Hotels were the selling agents.
</body></html>

prateek24-ezbwHMbNAk

One of NSW's oldest pubs in Picton changes hands

<html><body>
Multiplex has topped out its $180 million Paddington over 55s development The Terraces, located at the Scottish Hospital site on Brown Street, Sydney.
The Terraces is owned and operated Presbyterian Aged Care (PAC) in NSW. Construction topped out at level eight.
The Terraces at Paddington, designed by JPR Architects, will feature a 100 bed facility including a 23-bed dementia unit. The new retirement village includes 70 new seniors’ independent living units across four new buildings.
<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/2017/04/12/Bruce%20Christian%20Chairman%20of%20PAC%20Committee%20Harry%20Young%20Regional%20%20Director%20NSW%20Multiplex%20Paul%20Sadler%20CEO%20PAC.jpg" alt="">
The Scottish Hospital heritage building will house nine seniors apartments.
As part of the project, Presbyterian Aged Care are dedicating 1,300 square metres of land to the community for an expansion of the Dillon Street reserve park at the north of the site.
<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/2017/04/12/Bruce%20Christian%20Chairman%20of%20PAC%20Committee%20in%20yellow%20at%20the%20%20concrete%20Adam%20Stante%20Project%20Manager%20Multiplex%20Paul%20Sadler%20on%20the%20right%20%20CEO%20PAC.jpg" alt="">
Completion of the entire project is expected by early 2019.
</body></html>

Multiplex tops out Paddington aged care project

<html><body>
New South Wales will double its foreign investors stamp duty surcharge to 8 percent as part of premier Gladys Berejiklian’s moves to address housing affordability ahead of the budget. 
The annual land tax surcharge on foreign home owners will also increase to 2 percent from the existing 0.75 per cent.
Berejiklian is expected to announce more details after a cabinet meeting on Thursday, The Australian Financial Review reported. 
Although Sydney median home prices are the highest in the country, the latest data suggests prices fell slightly in May with concerns about an oversupply of new apartments. 
The tax hikes are expected to raise $1.9 billion over the next four years for the NSW budget, compared to $150 million raised from the 4 percent tax which was announced in last year's budget.
New South Wales stamp duty and land transfer receipts were back up to $9.4 billon over the year to January 2017.
Treasurer Scott Morrison has predicted that foreign buyers would fall by more than half this year as states increase taxes and the tax office cracks down on buyers who try to skirt Foreign Investment Review Board approval.
The NSW government is also poised to widen access to its first-home buyers bonus, offering it to buyers of existing stock rather than just new homes, the AFR said.
The state budget will be announced on June 20.
Housing affordability is one of the cornerstones of Berejiklian’s agenda after she became the NSW premier earlier this year. She appointed former Reserve Bank governor Glenn Stevens as an advisor on the package which cabinet is now considering. 
Foreigners made up about 11 percent of home purchases in NSW in the September quarter last year, according to NSW government data.
NSW surcharge is now above Victoria which charges 7 percent but it is still below comparable international jurisdictions facing a similar flood of foreign buyers. In Canada some provinces charge as much as 15 percent.  The tax charges are in addition to normal NSW stamp duty of as high as 7 percent.
But only about 2 percent of NSW home buyers paid the surcharge because it does not affect foreign citizens provided they are permanent residents who have been in Australia for 200 days in the preceding year.
In 2015-16, FIRB approved about 13,000 purchases by foreigners in NSW, about a third of the 40,000 foreign residential approvals. FIRB's definition of foreign buyers is slightly different to NSW. 
Morrison says the total number of foreign buyers will to 15,000 this year.
FIRB data suggests that the vast majority of foreign buyers come from China.
Some have argued that foreigners buy the equivalent of a quarter of new housing constructed in NSW. 
 
</body></html>

jonathanchancellor-7SQnKwU6yx

NSW hikes stamp duty for foreign investors to 8 percent

<html><body>
Coffs Harbour in New South Wales is approaching the peak of market position for offices, according to valuation firm Herron Todd White's April report, which focuses on the office market.
The office market in Coffs Harbour features an oversupply with limited enquiry for leasing at stable or slightly softer rental levels. 
There are a number of office project developments on hold until pre-sales or leasing is effected. These projects range from smaller strata title office projects to larger developments. The eastern precinct of the CBD remains prime with rental levels of $330 per square metre to $400 per square metre. 
Secondary or dated offices remain difficult to let. The impacts of reduced government spending, limited availability of grants and the retractionist policies are clearly evident in the Coffs Harbour regional office market. 
There is a lack of sales and leasing transactions within the office sphere of the market. Generally yields within Coffs Harbour remain firm based on the prevailing low interest rate climate. 
Leasing activity is restricted with serious owners having to offer lease up incentives or rent-free periods to attract quality tenants. 
As an example, a commercial building leased to a law firm at <a href="https://www.realcommercial.com.au/property-offices-nsw-coffs+harbour-502317902" target="_blank">134 West High Street</a> in the CBD recently changed hands for an undisclosed sum.
The tenant pays all outgoings and the property earns a net Income of $186,500 pa + GST.
 <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/2017/04/21/CoffsHarbour.jpg" alt="">
The selling agents were Rhys Parker of Burgess Rawson and Troy Mitchell of LJ Hooker Commercial.
 
</body></html>

Coffs Harbour office market is oversupplied with limited leasing: HTW 

<html><body>
An iconic hotel in Maitland in NSW’s Lower Hunter Valley is up for auction on June 15. 
The Family Hotel is at the northern gateway to the Maitland CBD.
The two-story hotel sits on a large site of 2,136 square metres. 
The hotel is easily recognisable with its pitched roof and overhanging verandahs, says its description.
Built in 1860, the pub is believed to have a resident ghost, was supposed to be the scene of a murder, has a hidden attic still furnished with original furniture and a ballroom with a sprung dance floor, according to the Maitland Mercury.
Manenti Quinlan and Associates of Sydney and Moore and Moore Real Estate of Newcastle have been appointed to market the hotel, following their recent success in selling Shenanigans at The Imperial in Maitland. 
<img src="https://www.urban.com.au/images/2017/05/19/FamilyHotel1.JPG" alt="">
Manenti Quinlan’s Gerry Quinlan said that Maitland was one of the sought-after hotel destinations in New South Wales due to its proximity to Sydney, Newcastle and the Hunter Valley. 
The hotel has been priced to attract a wide audience of investors and operators, said Deane Moore.
 
 
 
 
</body></html>

NSW

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

NSW