The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" dir="auto">
<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" data-turn-id-container="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" dir="auto">
The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Queensland

<html><body>
Brisbane, like other metropolitan cities in this first half of 2014, has had somewhat of a buying frenzy amongst both home buyers and investors.
Having recently procured a property there, I uncovered something rather alarming during my due diligence process.
It turns out that some councils within the metropolitan area of Brisbane have introduced different pricing for their council rates based on the type of buyer you are. If this sounds unfair, it is probably because it is. In fact, the story has recently <a href="/news/qld/margaret-lomas-heads-fight-against-higher-council-charges-for-investors">gained momentum in Property Observer</a>, with industry expert Margaret Lomas adding her views to the matter.
The thinking behind this policy is that home owners are ‘doing it tough and need a helping hand’. There is an assumption by some Queensland councils – such as Mackay, Brisbane City, and Logan City – that investors can afford to pay higher council rates simply because they are investors.
I purchased a property on 5 May in <a href="/news">Zillmere</a> (Brisbane’s northern suburbs) and was advised that my dwelling and ownership/usage structure (as an investor, so non owner-occupier) placed me on a ‘Category #14’ pricing of 42.8 cents per unit. Had I been an owner-occupier, my rate for the same property would fall under ‘Category #1’ (incurring a rate of 30 cents per unit).
This is clearly discrimination based on the ‘assumed’ status that investors are more cash-flow rich than owner-occupiers. The rate structures are not means-tested so there is no factual base for this pricing, rather just an assumption.
<blockquote>
This discriminatory approach in some councils throughout Queensland is merely a price-gauging and revenue-raising strategy at the expense of those trying to secure their financial future. 
</blockquote>
It’s unfair because council rates are paid to ensure that services to the suburb area such as rubbish collection, council clean-ups, bushland and fire levies, library and park maintenance; are provided for all dwelling occupants living in the area. Regardless of the occupant residing there, all occupants are entitled to the same services provision.
The biggest mistake these councils have made in their assumption of investor wealth, is that investors are cashed up and aren’t also ‘doing it tough’.
If councils want to penalise those who scrape together their savings to try and provide a better future for themselves and their families via investment, is this not discrimination? 
Regardless of how small or seemingly inconsequential the rate difference is between the two ownership types, it is the principle of the matter that needs to be challenged. This is because this council initiative may set future a precedent that other property related service industries may enlist.
I’ve observed in my investment career instances where one council will form a new policy and other neighbouring councils will adopt a similar policy in the years ahead.
Imagine if you were an investor and needed to send a plumber out, yet the plumber advised you that their service rate to you would be higher because you are an investor. Or if strata management companies gave owner-occupiers a discount at the expense of a rate hike for those lot owners who happen to be investors.
What makes this more embarrassing for some of the councils involved, particularly Brisbane City Council (BCC), is that the owner-occupier rate is not discounted, meaning that the rate hike for investors is clearly a revenue raising strategy.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
Are councils neglecting the value that investors bring to their suburbs?
Investors actually bring revenue to an area when they buy and in some instances greater revenue than owner-occupiers. 
Why?
Think of the housing they provide for residents who aren’t yet able to afford their own ‘owned home’. Think of the job creation for the local community in terms of ongoing real estate agents managing and representing the property, bringing wage growth into that local business and council area.
Even when looking at the logical rationale behind this move; there simply isn’t one. Why? Because rates are currently structured to be paid per-household regardless of occupant volume residing in that household. If discrimination is to occur based on ownership status, why are these councils not also discriminating based on occupant volume?
Is occupant-volume a fairer way to price-structure council rates?
Think about what these rates cover. These are things that if rate pricing structure is to be introduced logically should be based on occupant volume of the property, not the type of occupant that resides there. 
For instance, a single person occupying a four bedroom house is likely to produce much less rubbish and stormwater drainage wastage each week, than say a family of five, occupying that same house.
The single occupant may only even put their bins out once every two to three weeks, yet the family of five may be putting an overflowing bin out, every single week. Surely this would be a better standard of measure to determine the rates that occupants pay.
This kind of ‘user-pays’ services approach is employed in several places around the world such as Singapore and ensures that services usage is minimised and costs kept down as much as possible, for all.
Is this pure discrimination and revenue-raising?
This discriminatory approach in some councils throughout Brisbane and greater Queensland is merely a price-gauging and revenue-raising strategy at the expense of those who are just trying to establish and secure their financial future. 
Oh and the other thing is this, specifically the Logan City Council (LCC) as well as Brisbane City Council (BCC) have formed these policies in recent times. Is it just coincidence that these two council areas (and their encompassing suburbs) have had the highest investor penetration in the last two years out of all of Brisbane metropolitan area and would stand to benefit most from an increased rate revenue from the investor community?
The trend could be on the rise with other city and municipal council areas in Brisbane and Queensland. So if you are either an owner of an investment property or you are thinking of buying one in this state, ensure you call the council of the area your property falls under during your due diligence phase.
How can investors stand up against this?
My recommendation as a due diligence point for any investor, in any Australian suburb, is to call the local council and find out what their rate policies and pricing structures are. If you feel you are being charged a higher rate unfairly, you should challenge them on this in writing. 
It is likely that the matter is not financially viable to pursue from a legal perspective; however, the more noise created about this strategy the more the spotlight is placed on councils to consider changing their pricing policies.
I personally will be challenging my higher-rate status with Brisbane City Council in light of this, purely out of principal.
</body></html>

cmcevoy-Go82SmsJA9

Variable council rates for investors is blatant revenue raising and discrimination

<html><body>
The Real Estate Institute of Queensland (REIQ)’s March Quarter 2014 Queensland Market Monitor has found that a two-tier market has emerged across the state, with the residential market generally showing signs of a recovery. The mining sector, however, is seeing residential activity easing and rents easing.
REIQ CEO Anton Kardash said that the activity is significantly varied across the major local government areas.
“South East Queensland, including Toowoomba and the state’s coastal tourism centres continue to show strengthening market conditions, while the residential property markets in regional mining centres of Gladstone and Mackay have recorded easing conditions,” Kardash said.
The Residential Tenancies Authority saw median weekly rents remain steady in South East Queensland, and tourism centres, but show weaker signs in the mining regions. This has been a continued trend in these resource centres for the past year.
TIGHTENING RENTAL MARKETS
<ol>
<li>Toowoomba 
</li>
<li>Tourist Centres (e.g. Gold Coast, Sunshine Coast, Fraser Coast, Cairns)</li>
</ol>
MARKETS EXPERIENCING A SLOWDOWN
<ol>
<li>Gladstone 
</li>
<li>Mackay 
</li>
<li>Rockhampton</li>
</ol>
“Despite increased investor activity across Queensland, local agents report increased number of sales of former investment properties to owner-occupiers, reducing the overall rental pool in some areas,” he said.
December saw an easing in vacancy rates across the board, however tighter conditions have returned.
“Stronger tenant demand and sales of investor stock to owner occupiers were common theme across the State,” he said.
When looking at the house market, results were also mixed.
Greater Brisbane
<ul>
<li>Sales activity remained consistent over the December quarter. 
</li>
<li>Increased activity towards the outer regions. 
</li>
<li>Median house price down 1.1%.</li>
</ul>
Metropolitan Brisbane
<ul>
<li>Drop of 7% in preliminary house sales numbers. 
</li>
<li>Activity strong elsewhere in Brisbane statistical division.</li>
</ul>
Moreton Bay regional council area: Increase of 7% in preliminary sales numbers over March quarter (most improved sales).
Ipswich and Redland: Both recorded an increase of 6%.
Gold Coast, Sunshine Coast, Fraser Coast, Cairns (tourism centres): Saw growth in median house prices. Sunshine Coast sales numbers (preliminary) up 4% over the quarter. Over the year to march, Gold Coast up 20% on sales volumes. Cairns sales slightly down over the quarter, although up 15% year on year.
“Median house price growth across these four tourism regions has now begun trending upwards following two consecutive quarters of positive results,” said Kardash.
However, when looking at the mining centres the story is almost an exact opposite.
Gladstone and Rockhampton: Sales activity down by more than 10%.
Regional centres, including Toowoomba, Townsville and Bundaberg, saw subdued or steady sales over the quarter, however year-on-year strength. Toowoomba is up 18% over this period.
Meanwhile, units and townhouses are seeing a recovery.
Greater Brisbane council area: Strongest increase in sales activity.
“Unit sales were also strong in the tourism centres, with the Cairns unit and townhouse market recording solid buyer activity in the $250,000 to $350,000 price bracket, contributing to an increase of 15.5 per cent in the region’s median unit sale price to $212,000,” he said.
“The Fraser Coast also posted a significant increase of 22.7 per cent in its median unit and townhouse sale price with strong sales in the $350,000-plus bracket.”
The Gold Coast and Sunshine Coast were also recording a healthy level of prestige unit sales, potentially behind the median sales price growth and overall activity.
</body></html>

jduke-EHk3XBmHkn

Two-tiered Queensland market as mining towns sluggish

<html><body><div class="page" title="Page 61">
<div class="layoutArea">
<div class="column">
From the 2014-15 land tax year onwards, the Queensland Land Tax Act 2010 will be amended to provide a new exemption.
It is for land that did not previously receive a home exemption with the owner in the process of selling their old home and moving into a new home, where certain conditions are met. 
The home exemption currently previously only applied to one parcel of land at a land tax liability date.
 However, this limitation resulted in liability where a person is selling their previous home and moving into a new home at the land tax liability date of 30 June. 
The new exemption will mean that an earlier home in the process of being sold, or a new home in the process of being moved into is also exempted, provided that by the next land tax liability date the taxpayer is entitled to the home exemption for the new home, and the taxpayer no longer owns the earlier home.
</div>
</div>
</div></body></html>

jchancellor-FAypfDUnLy

Queensland land tax home mover's exemption

<html><body>
The Queensland Newman government’s Great Start Grant, which gives first home buyers $15,000 for buying or building a new home, is finally finding some take-up.
As of 2 June, 6,251 applications had been approved and paid. This was well up from 5,343 in March 2014.
More than 3,000 had been granted for Brisbane, according to Treasurer Tim Nicholls' budget papers.
Eligible first home buyers of properties up to $500,000 pay no duty, with reduced rates available up to $550,000.
It had been a slow start as in March 2013 the Queensland government renamed its $15,000 first-home owner construction grant (FHOCG) the 'great start grant' as just 126 first-home buyers had taken advantage since September 2012 last year.
But despite a small increase in new construction activity, the budget papers showed overall dwelling investment declined in Queensland for the sixth consecutive year in 2012-13. It was mainly due to a sharp fall in alterations and additions, partly reflecting the completion of earlier disaster-related renovation activity, and also slower income growth.
With sustained low interest rates and an improved outlook for residential property prices, growth in new dwelling approvals did accelerate in 2013, particularly for apartments in inner-city Brisbane. As a result, overall dwelling investment is expected to increase in 2013-14.
"Increased activity by interstate and overseas investors is also expected, as recent large gains in Sydney house prices prompt investors to seek markets elsewhere," Nicholls noted.
Beyond 2014-15, as the RBA moves to a more neutral monetary policy setting, dwelling investment growth is expected to moderate.
The first home grant take-up accompanies Treasury forecasting a further increase in residential sales.
“The recovery in the housing market is expected to continue in fiscal 2015 supported by low interest rates and the continuation of the government’s Great Start Grant,” budget papers said.
Revenue from transfer duty is expected to grow by 9.6% in 2014-15, following strong growth of 28.2% in 2013-14 that was supported by a number of large commercial transactions.
The 2014-15 estimate also includes the duty expected from a large commercial transaction. Underlying growth was 14.8% in 2013-14 and 13.3% in 2014-15 once the impact of these large transactions is removed. 
Article continues on next page. Please click below.
<hr class="system-pagebreak">
Annual growth in transfer duty averaged over 22.6% from 2000-01 to 2007-08, driven by a range of factors including Queensland’s relative affordability of housing, high population growth and the impact of the burgeoning mining sector. 
Transfer duty growth is expected to be modest relative to that experienced between 2000-01 and 2007-08. The transfer revenue is tipped to be $2.65 billion in the 2014/15 year, compared to $2.42 billion in 2013/14. There is a $2.73 billion estimate for 2015/16.
"While low interest rates and a solid economic outlook are expected to support recovery in the property market, this is expected to occur at a gradual pace, particularly in the non-residential sector," the budget papers said.
Average growth of around 6.6% per annum is expected over the period 2013-14 to 2017-18.
Every one percentage point increase in the volume of sales sees transfer duty collections increase by about $25 million.
Land tax revenue of $980 million this year is tipped to increase to $995 million in the 2014/15 year.
Transfer taxes represent 21% of state taxation income and land tax represents 8%. 
Revenue growth from transfer duty can vary significantly from year to year due to the volatility of both the residential and non-residential segments of the property market, while land tax has a relatively stable base and the effect of three year averaging of land values for assessments.
Resident individuals are generally liable for land tax if the total taxable value of the freehold land owned by that person as at 30 June is equal to or greater than $600,000.
Companies, trustees and absentees are liable for land tax if the total taxable value of the freehold land owned as at 30 June is equal to or greater than $350,000.
Land tax is estimated to grow by 1.5% to $995 million in 2014-15, the first year of annual growth since 2010-11.
The budget papers noted in recent years, land tax revenue has been adversely impacted by declining values, particularly for commercial and multi-unit residential land. 
Real Estate Institute of Queensland’s chief executive Anton Kardash said Queensland's real estate sector was starting to hit its straps" with more favourable market conditions.
The Queensland Treasurer, Tim Nicholls, has delivered a budget with a projected surplus of $188 million, the first surplus in a decade.
"The Queensland economy is now entering a period of transition as the investment phase of the large LNG projects nears completion and the production and export of LNG begins.
"Supported by sustained low interest rates, rising asset prices and a lower exchange rate, economic growth in 2013-14 is expected to be underpinned by household consumption growth, a recovery in dwelling investment and a significant contribution from net exports.
"However, as construction of the major LNG projects nears completion, business investment is expected to fall and see overall economic growth ease to 3% in 2013-14, compared with 3.6% in the previous year," the budget papers said. 
Employment growth picked up during the course of 2013-14, supported by some recovery in the labour-intensive household sector.
"This recovery is expected to support a further strengthening in employment growth in 2014-15 and beyond.
"This, in turn, is expected to drive a steady improvement in the unemployment rate, from 6% in 2013-14 to 51⁄2% in 2016-17."
Following the global economic slowdown, Queensland’s annual population grew by almost 95,000 in the year ending December quarter 2012.
Since then, it has fallen back to approximately 84,000 in the year ending September quarter 2013, reflecting lower inflows from both net overseas and net interstate migration.
The decline partially reflects a slowdown in the influx of workers as the resources investment boom peaked during 2013.
"Looking ahead, net overseas migration to Queensland is expected to pick up to be more in line with the State’s share of the national population.
"This increase will be supported by an expected recovery in overseas student arrivals as a result of the lower Australian dollar, as well as measures to simplify student visas.
"Net interstate migration is also expected to recover from current low levels, assisted by improved housing affordability in Queensland relative to New South Wales and Victoria," the budget papers said.
Overall, Queensland’s population growth is expected to be 13⁄4% in 2013-14, similar to that nationally. Growth in Queensland is then expected to strengthen to 2% per annum over the remainder of the forward estimates period, slightly stronger than the 13⁄4% per annum forecast national growth over the same period. 
</body></html>

Interstate investors arrive as Queensland Great Start Grant finally finds a place

<html><body>
The newly renovated home of Townsville couple Maddi and Lloyd will be revealed tonight on Channel 7’s House Rules.
The former swimwear model and aviation firefighter <a href="/expert-insights/building/swimwear-model-maddis-shoe-room-overhaul-as-house-rules-hits-tropical-pallarenda-townsville">purchased their tilted Queenslander for $372,000 in 2013</a>. Contestants have been fighting the heat and humidity this week to give the couple a home according to their request: “Give us a laid back coastal paradise, add a splash of the Bahamas, furnish our kitchen with a dream island, layer in texture instead of colour, keep it organic.”
For those watching at home who are itching for a raised reno project of their own, Property Observer has found five Queenslanders on the market that could do with a touch up.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-qld-oonoonba-116899003" target="_blank">61 Mcalister Street, Oonoonba <img src="/images/2014/06/02/1.jpg" alt=""></a> Not so much ‘raised’ as ‘wobbling’, this two bedroom house in suburban Townsville has selling agent Paul Bow of Virgo Patterson advising that buyers “renovate or develop”. The lowset Queenslander is set on a 1,265 square metre block and features a falling apart oven and what looks to be lino flooring in the kitchen. It’s on the market for $250,000 plus.<a href="https://www.realestate.com.au/property-house-qld-oonoonba-116899003" target="_blank"> </a><a href="https://www.realestate.com.au/property-house-qld-oonoonba-116899003" target="_blank"> </a>
</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-giru-116830959" target="_blank">510 Hodel Road, Giru</a> <img src="/images/2014/06/02/3.jpg" alt=""> Going for $268,000, a four to five bedroom house set on 15.56 acres of hobby farmland could do with a fix up. According to its listing, the owners are undertaking some renovations now, but “if not completed, you can complete this at your own leisure”. The house is a short drive away from Morrissey’s Creek, for any renovators keen to do some fishing. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-babinda-116950399" target="_blank">36 Angus Street, Babinda <img src="/images/2014/06/02/4.jpg" alt=""></a> “Cheapest House In Queensland? Be Quick For This Crazy Bargain!!” reads the listing for this 1930’s era Queenslander. The home is on the market for $155,000 through Debbie Aldred of Re/Max Real Estate Cairns. About 45 minutes south of Cairns, the roof has been recently fixed up but a few other parts of the house could use a do-over, including the bluestone tiles in the bathroom. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-babinda-114886927" target="_blank">54 Eastwood Street, Babinda</a> <img src="/images/2014/06/02/6.jpg" alt=""> If this two bedroom raised home doesn’t fetch its $160,000 asking price, it may be contending with its fellow Babinda home on Angus Street for Queensland’s cheapest house. While it features a newly renovated kitchen and newly laid vinyl flooring in the living room and carpet in the bedrooms, the house could no doubt provide lots of opportunities for an enthusiastic renovator. It currently brings in $170 per week in rent. 
</li>
<li>
<a href="https://www.realestate.com.au/property-lifestyle-qld-hay+point-7486451" target="_blank">45 Windsor Drive Hay Point </a><img src="/images/2014/06/02/7.jpg" alt="">
This house on stilts is about five hours’ drive south of Maddi and Lloyd’s place, but they have more than a few similarities. Jody Paul of Real Estate &amp; Property Solutions Mackay writes that “you will need a tool kit for this home, and the reward will be worth the work.” 
The property’s “slightly undulating” plot is another thing this home has in common with Maddi and Lloyd’s Townsville house on stilts. Located in Mackay, this home has three bedrooms and one bathroom, and is selling with $280,000 expectations.
</li>
</ol>
</body></html>

jrichardson-uRX5hFdKfN

Raise your renovation game: Stilted Queensland offerings for Maddi and Lloyd fans

<html><body>
There has been broad agreement among analysts that this will be the year of Brisbane, but it's regional Queensland leading the charge in 2014.
Most commentators, especially the chattering economists, focus exclusively on the capital cities in their "analysis" of real estate in Australia. The regions seldom rate a mention, other than an habitual obsession with bad news areas like the Gold Coast.
Property investors also tend to overlook the regions - and that's to their detriment. Over the years surveys have found most investors believe you have to buy in capital cities to get capital growth. But regional centres offer the potential for a win-win-win situation: cheaper prices, better rental yields and excellent potential for capital growth (assuming you buy wisely).
In Queensland in particular, regional cities must always be considered. Queensland is the most decentralised state and has a line-up of strong regional cities that matter both economically and in a real estate sense: <a href="/news">Townsville</a>, <a href="/news">Toowoomba</a>, <a href="/news">Rockhampton</a>, <a href="/news">Cairns</a>, the Sunshine Coast, <a href="/news">Gladstone</a>, <a href="/news">Mackay</a> ... and, yes, even the Gold Coast, though it's more of a theme park than a city.
The latest figures from the Real Estate Institute of Queensland indicate that Brisbane overall hasn't moved a great deal but many of the regional cities have.
<a href="/news/qld/the-regions-have-queenslands-most-pronounced-rental-price-movements-terry-ryder">Since the middle of last year</a> I have been recommending that investors consider some of Queensland's coastal cities which have been poor performers in recent years but are now moving into growth phases.
These include Cairns, the Sunshine Coast and Hervey Bay. These places have a number of things in common - economies that have struggled in the past through over-reliance on tourism and property markets weighed down by over-supply.
Their recoveries have common features as well - a big increase in infrastructure spending, efforts to diversify their economies, absorption of the previous accommodation surpluses and recovery in tourism markets. These places have been at the forefront of Queensland price growth in the early part of 2014.
I have spoken to investors who own Cairns property and have only negative things to say about the city's market. But that's the past and hotspotting is about perceiving the future. And, in line with our forecasting, Cairns was Queensland's leading performer in the March quarter - it's median house price rose 5.6%.
Hervey Bay rose about 3%, <a href="/expert-insights/investing/rocky-on-the-rise-as-gladstone-stumbles-terry-ryder">as did Rockhampton</a>, while the Sunshine Coast improved 2% in the quarter, as did Townsville.
The Gold Coast rose 4% and is now back on a growth path after five years of decline. There's plenty of infrastructure spending happening there as well and normally I would have such a place on my good list.
But the coast's miserable capital growth history, thanks to continual bouts of over-supply, counts against it - particularly with the level of new supply in the pipeline.
Every week brings new announcements of new skyscrapers. The Gold Coast is gearing up to repeat the mistakes of the past.
I'd rather own real estate in <a href="/expert-insights/buying/regional-hotspot-toowoomba-shows-great-investor-potential">a city of substance like Toowoomba</a> than a place of froth and bubble like the Gold Coast.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
Photo of Townsville at night: Creative Commons.
</body></html>

terryryder-YECXbqmri2

Forget the Gold Coast, it's regional Queensland leading the charge

<html><body>
Following an investor complaint about Brisbane City Council’s differential rating system, Property Observer looks at the other Queensland councils that charge higher rates for non-owner occupied properties.

Last week, television host and Destiny Financial Solutions director Margaret Lomas <a href="/news/qld/margaret-lomas-heads-fight-against-higher-council-charges-for-investors">launched a public campaign against the practice</a> on social media, urging investors to “band together to force these money- grubbing councils to stop targeting property investors”.

<a href="https://twitter.com/MargaretLomasAU" target="_blank"><img alt="" src="/images/2014/05/27/lomas-tweet-may-27.jpg"></a>

In Brisbane City Council, single residential properties are largely categorised as either “Residential – Owner Occupied” or “Residential – Non-owner occupied or mixed use”.

Owner occupied residences are described as: “residential dwelling houses and dwelling units where the sole use is as the principal place of residence of the owner/s. In this instance, eligible ownership is limited to individuals only and does not include premises owned or partially owned by a company, trust, organisation or any entity other than an individual. This is regardless of whether the premises are occupied by a shareholder or even the sole shareholder of that company, trust, organisation or entity.”

That rules out rental properties, holiday homes and anything that’s owned under your company’s name. These properties attract a rate of 0.3064 cents in the dollar, with a minimum general rate of $503.40.

[smartcode_project:default project_id=90087]

Category 7 or “Residential – Non-owner occupied or mixed use” properties are defined as “predominantly residential premises" where:

"(a)      the premises is not the principal place of residence of at least one person who constitutes the owner of the property; and/or "(b)      the owner or occupier conducts non-residential activities upon the property not in excess of [certain limitations that would see it defined as a commercial property]." 
These properties attract a rate of 0.3904 cents in the dollar, with a minimum general rate of $628.72 in Brisbane.

While Lomas has been tagging her posts on the topic with <a href="https://twitter.com/hashtag/equalratesforpropertyinvestors?src=hash" target="_blank">#equalratesforpropertyinvestors</a>, it is not just investors who see higher rates than owner occupiers. If you own a house in Noosa that you visit four times a year, you will be paying a higher rate than an owner occupier, even though you don’t generate income from your holiday home.

[smartcode_project:default project_id=94758]

A pensioner now living in a retirement community, but still holding on to her old house – perhaps to allow relatives to stay in it, or because she’s waiting for the right time to sell – will pay higher rates in Brisbane than an owner occupier.

There is no evidence to suggest that non-owner occupied properties present a greater burden on the council than owner occupied homes. In fact, when investor Andrew Hancock enquired about the rates to the Brisbane City Council, they offered the following explanation:

“This is done to ensure that properties that are the principle place of residence of their owners do not pay as much as those which are income producing. Income producing properties also have the advantage of being able to offset such expenses against taxation. Council’s principal motivation is to ensure, through its differential rating system, that the owner-occupied, single unit dwelling sector of the community contribute to a level that is affordable and value for money.”

[smartcode_project:default project_id=29167]

The following Queensland councils charge higher rates for non-owner occupied homes than owner occupied homes:

<ul>
<li>Brisbane City Council </li>
	<li>Central Highlands Council</li>
	<li>Fraser Coast Regional Council</li>
	<li>Gold Coast City Council</li>
	<li>Ipswich City Council</li>
	<li>Logan City Council</li>
	<li>Moreton Bay Regional Council</li>
	<li>Mackay City Council</li>
	<li>Mount Isa City Council</li>
	<li>Redland City Council</li>
	<li>Noosa Shire Council</li>
	<li>Rockhampton Regional Council</li>
	<li>Scenic Rim Regional Council</li>
	<li>Somerset Regional Council</li>
	<li>Sunshine Coast Regional Council</li>
	<li>Townsville City Council</li>
	<li>Whitsunday Regional Council </li>
</ul>
So far, Property Observer does not know of any councils outside of Queensland who charge different rates for owner occupiers and residential investors. 
Earlier this year, a judge in the Supreme Court <a href="/expert-insights/finance/mackay-investors-win-as-supreme-court-judge-refuses-extra-council-rates-for-rental-owners">ruled against the Mackay City Council’s decision to charge higher rates</a> for non-owner occupied properties in a civil suit launched by investors Ayril Paton and Peter Crossan. Judge Duncan McMeekin said, “To justify the categorisation the Council impermissibly took into account characteristics personal to the owners of the land and failed to restrict itself to characteristics of the subject land itself. It is simply a misuse of language to claim that the owner’s decision to reside on land, or not, is in some way a characteristic of the land.”

[smartcode_project:default project_id=27364]

Mackay City Council is reportedly appealing the decision.

Do you know any other councils that charge higher rates to non-owner occupied properties? Let us know in the comments below.

Update: As of yet, there is no sign that the councils will be required to refund rates to investors. This article mistakenly included South Burnett in the list of councils that charged different rates for investors. South Burnett does not currently charge a different rate for non-owner-occupied properties and owner-occupied properties. The article has been amended.

<h2>Properties you may be interested in:</h2>

[smartcode_project:default project_id=27638]

[smartcode_project:default project_id=29171]
</body></html>

The Queensland councils charging higher rates for investors

<html><body>
Some Queensland councils are charging higher rates to property investors than owner occupiers, prompting a public backlash led by television host and Destiny Financial Solutions director Margaret Lomas.
Brisbane City Council has publically admitted to using a “differential rating system based on property land use to levy general rates” in an exchange on Facebook with investor Andrew Hancock. Upon realising that the council was charging lower rates to owner occupiers, he posted the following on the Brisbane City Council’s Facebook page:
“Can anyone there please give a plausible reason why rates are charged differently to a property for a non-owner occupier as opposed to an owner occupier? I fail to see how there is a difference in providing the exact same service to the exact same property, other than a way to profiteer off owners who aren't owner-occupiers at this time.”
Brisbane City Council’s reply:
“Hi Andrew, thanks for getting in touch. Council uses a differential rating system based on property land use to levy general rates. This is done to ensure that properties that are the principle place of residence of their owners do not pay as much as those which are income producing. Income producing properties also have the advantage of being able to offset such expenses against taxation. Council’s principal motivation is to ensure, through its differential rating system, that the owner-occupied, single unit dwelling sector of the community contribute to a level that is affordable and value for money. If you require any further information, please Private Message me your contact details and I will organise to have a Rates Officer contact you. Thanks, Tom.”
Hancock responded, calling the council’s logic "absurd".
“If you were to apply it to every purchase made in society, everyone would be paying different prices for the same goods and services on everything, as most things are deductible in some way to someone depending on their profession,” he wrote.
“Should I pay more for sunglasses than the consumer next to me because they're deductible in my profession? Should my brother pay more for hair cuts because they're deductible in his?”  
Hancock’s issue caught the attention of Lomas, a Property Observer columnist and host of Sky News Business Channel’s Your Money, Your Call and Property Success with Margaret Lomas, who wrote the following on her<a href="https://www.propertyobserver.com.au/https://www.facebook.com/pages/Margaret-Lomas/171943506190564" target="_blank"> Facebook page</a> earlier today.
“I've known for some time now that in some QLD councils a higher charge is levied on council rates if you are an investor rather than an owner occupier. I admit I had not given much thought to this until I received an email from a ratepayer in Brisbane City Council.”
After copying in Brisbane City Council’s response to Andrew, she continued:
“The rate payer was appalled and frankly, so am I! There is simply no basis for this - the individual tax position of each property owner is of no concern to council, and I am sure the tax office would be interested to know that some councils are using our tax deductions as an excuse to profiteer! As this ratepayer pointed out, a person who can claim sunglasses as a deductible expense due to their job doesn't pay more for those sunglasses, and nor should we for our rates! “We must start an awareness campaign, and band together to force these money- grubbing councils to stop targeting property investors. Our presence in their area enhances property values and provides housing for their constituents, and we should not be penalised for that! “I don't know how you make a post go viral, but let's try to do that with this one and bring shame upon those councils involved in this inequitable and unfair practice!”
As of this afternoon, her post had attracted 53 ‘likes’ on Facebook.
 
This story continues on the next page.
 
<hr class="system-pagebreak">
Speaking to Property Observer, Lomas agreed with Hancock that there was no logic to the council’s stance.
“It’s purely revenue raising,” she said. “There’s no other point to it. The very weak argument given on Facebook is that the rates make housing more affordable for home owners. But there’s absolutely no reason that investors should have to fund owner occupiers.”
According to Lomas, investors in a particular council help support housing in that area.
“My view is that investors actually provide affordable housing, and also add to demand for property, increasing values. And since rates are rated against property values, they are actually assisting councils.”
Earlier this month, <a href="/expert-insights/finance/mackay-investors-win-as-supreme-court-judge-refuses-extra-council-rates-for-rental-owners">Queensland’s Supreme Court set aside a decision by the Mackay City Council</a> to charge property investors increased rates, following a class action suit from investors. 
Mackay City Council is reportedly considering an appeal to the decision. Lomas believes that the Supreme Court’s judgement is likely to affect other councils who use a differential rating system based on land use. While she is only aware of the practice in Brisbane City and Logan City, she says she “does not doubt it happens in other councils”.
It seems that differential rates for investors does occur in other local Queensland councils, with Local Government Association of Queensland chief executive Greg Hallam telling The Morning Bulletin that "many councils presently use the differential rating power to categorise residential land based on whether it is used as a principal place of residence, or for investment purposes.” 
As for the council’s argument that the differential rating system is equitable because investors receive tax deductions that home owners do not, Lomas disagrees.
“The fact is that all property investors get different rates of tax reduction. So if they want to make it fair, your rates would have to be linked to the size of the deduction you get. [The practice] is very inequitable, even among property investors.”
</body></html>

Margaret Lomas heads fight against higher council charges for investors

<html><body>
<div id="baseInfo">
<div id="listing_header">
Wirraway, the stunning mansion on 1,550 acres in the Biddaddaba Valley, only 30 minutes from the Gold Coast, has been listed for sale with a $20 million asking price.
<a href="https://www.realestate.com.au/property-house-qld-tabragalba-116934359" target="_blank">The rural retreat</a> comes with four bedroom colonial-style main residence with a ballroom that can host 200 guests.
There are two guest houses amid improved pastures and 16 dams.
It has aircraft and helicopter facilities. 
The wine cellar under the house comes with adjoining tasting room. It doubles as a panic room with bullet-proof glass.
With 1,550 acres over six titles, some 70% of property is fully improved pastures.
The highlight of the 16 dams, is the nine acre dam stocked with thousands of Australian Bass.
There are aircraft hangars plus helicopter pad and 1000 metre registered airfield runway.
</div>
</div>
<div id="description">
"This property, the residences and improvements have to be seen to be believed," Harcourts Coastal Luxury agent Shaun Kaddatz said.
It has been listed by Preston and Miranda Richardson.
 
</div>
</body></html>

Wirraway, the $20 million Tabragalba, Gold Coast hinterland mansion

<html><body>
Brisbane’s property syndicator Sentinel Property Group has expanded its range of investment products, launching a specialist mortgage financing venture for residential and commercial development projects through ‘Queen Street Invest’.
Created by Sentinel founder and CEO Warren Ebert, it is also jointly owned by Jim Cossart and Daniel Holden.
The new business looks to allow investors to participate in financing new development projects through passive equity products. This includes mezzanine debt, preferred equity and first mortgage secured loans, each of which will be a standalone closed end fund for just one project.
Clearly defined exit strategies and a six to 12 months pre-determined life span will be there for each fund.
Sentinel has a portfolio of 20 office, industrial and retail properties to a combined value of more than $400 million, and average net annual returns of 12.5%.
The minimum investment for Queen Street Invest will be $100,000. Mortgage finance products will be available from $1 million to $20 million in value.
“We believe that the timing is right for this type of investment product, with market activity and construction on the rise and limited competitors in this space,” said Ebert.
“Whilst Sentinel remains focused on our core property business, we understand that some investors have a need to allocate a percentage of their portfolio to shorter-term investments. This is where Queen Street Invest can provide balance and diversity of investment.”
Queen Street Invest currently has some financing deals under review in Queensland in the residential apartment and retail sectors. They will be looking at national opportunities.
</body></html>

Queensland

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Queensland

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News