National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<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/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<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/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Victoria

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A Great Ocean Road Icon, the Lorne Theatre will go up for auction tomorrow with vendors expecting bids over $2.5 million.
The site of many a first date, the art deco era Lorne Theatre was built in 1937 as tourism expanded following the extension of the Great Ocean Road to the seaside town. Tomorrow’s auction will mark the first time the building has been offered since it was purchased by the current vendors in the late 1960s.
The sale has some worried that the seaside town of Lorne will lose the historical landmark. According to The Geelong Advertiser, a public meeting was called to consult with Heritage Victoria over potential development on the site. The cinema’s lease is due to finish in 2016.
While selling agent Shaun Venables of Burgess Rawson says that the theatre has received interest from developers, but that many are keeping the theatre’s historical value in mind.
“Most of the developers we’ve spoken to are sympathetic to the theatre’s current use – they’re considering redevelopment, rather than development.
“It’s a 530 seat theatre, which has been full once in the last 25 years. Given the building’s height and corner situation, there’s a great opportunity to utilise the building and make a big difference to the strip.”
The Lorne Theatre is one of the few single screen theatres left in Australia. The heritage listed theatre is known for the quality of its acoustics, thanks to the poor amplification available in the 1930s. It underwent an upgrade last year and now has a state of the art digital projection and sound system.
The 715 square metre corner site with 56 square metres of dual frontage onto the Great Ocean Road is advertised as drawing $78,180 in yearly rent. 
The Lorne Theatre at 76 Mountjoy Parade will be sold <a href="https://melbourne.burgessrawson.com.au/3P0787" target="_blank">in a portfolio auction at Melbourne’s Crown tomorrow</a>. It is being sold through Venables and Raoul Holderhead of Burgess Rawson and Michael Coutts and Ian Stewart of Great Ocean Road Real Estate Lorne.
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jrichardson-uRX5hFdKfN

Iconic Lorne Theatre up for auction tomorrow with $2.5 million plus hopes

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The historic Mount Macedon estate, Alton was passed in on a $5 million vendor bid at its weekend auction.
The property known for its botanic gardens, was offered by vendors mining executive Eduard Eshuys and his wife, Marjorie who restored its 1870s-built Venetian Gothic house.
Gardens make up four hectares of<a href="https://www.alton-mountmacedon.com" target="_blank"> the 10.5-hectare holding</a>.
It also has a small farm and an 1870s-built Venetian Gothic home, known as the gingerbread house.
Established by Sir George Verdon, at various times Victoria’s treasurer and Agent General, it was subsequently owned by Judge Hood and then by George Nicholas, the co-founder of ASPRO, this property has been always been prominent in the minds of Victorians.
The Eshuys' bought the estate in 1997 from Coles Myer-owned ­company Silver Meadows.
Its listing agent Jock Langley of Abercromby, who had the property in conjunction with Lindsay Hill Real Estate, Mount Macedon, had been issuing price guidance that other sales in the area had averaged about $380,000 per acre.
The property at 239 Alton Road, Mount Macedon, Alton was marketed as among the finest hill station estates. The hill stations concept comes from are high-altitude towns in India used, especially by European colonialists, as a place of refuge from the summer heat.
The garden includes 24 National Trust recognised trees.
The road's last sale was $3.25 million when the seven hectare estate, the 1870s <a href="https://www.realestate.com.au/property-house-vic-mount+macedon-112416011" target="_blank">Duncraggan</a> sold last June.
The highest sale for the district was when Fosters brewery group secured $8.17 million in 2005 when the Gribbles Group director, Wallace Cameron bought the 8.8 hectare Sefton estate at Mount Macedon.
Built by <a href="https://adb.anu.edu.au/biography/baillieu-william-lawrence-willie-5099" target="_blank">William (Willie) Lawrence Baillieu as a summer retreat early in the century</a>, the property included a nine-tee golf course, tennis court and croquet lawn.
It was offered at $12 million without success in 2010. 
It has an <a href="https://www.slv.vic.gov.au/pictoria/gid/slv-pic-aab45596" target="_blank">English garden</a> influenced by noted Royal Botanic Gardens directors Baron von Mueller and W. R. Guilfoyle.
<a href="https://www.fionabarkerdesign.com.au/folio/residential/sefton/" target="_blank">The Sefton interiors were done by Fiona Barker Design</a>.
Mount Macedon's first $1 million plus acreage sold in the late 1980s.
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jchancellor-FAypfDUnLy

Alton, 1870s Mount Macedon garden estate passed in

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<div>
The Gothic Revival Banyule at Heidelberg has been listed with a $5.5 million asking price, through the Jellis Craig agency.
The heritage-protected 1840s homestead - one of the oldest remaining residences in Victoria - once sat on a 266 hectare holding.
The Buckingham Drive homestead <a href="https://banyulehomesteadmatters.com/the-shrinking-banyule-estate-2/" target="_blank">now on a 9,085 square metre holding</a> was designed by architect John Gill for the English-born pioneer Joseph Hawdon in 1846 whose family retained the home until the 1860s.
The Gothic style was unusual for Melbourne, but more popular in Sydney.
{qtube vid:=9haUytlVyes}
</div>
<a href="https://www.jelliscraig.com.au/property/HEIDELBERG-60-74-Buckingham-Drive/6942087/" target="_blank">Jellis Craig Balwyn agent Iain Carmichael</a> undertook an expressions of interest that closed May 7.
Set behind hedging, with wetland views to the Dandenong Ranges, it has an eight bedroom, four bathroom mansion.
There's a stately reception foyer, grand-scale dining, huge ballroom and music room.
Built before the discovery of gold, there are a handful of other buildings in Melbourne of this age, but many were originally small cottages that were extended later to become large homes.
But Banyule Homestead was intended to be a grand mansion at Heidelberg which at the time was a desirable location for the Port Phillip gentry.
In 1974 Banyule Homestead was purchased from the Simpson family for a below valuation $190,000 price by the Hamer state government, then opened as an annex by the National Gallery of Victoria.
The homestead was sold by the Kennett state government in 1995 for $815,000 to the current vendors.
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Banyule homestead, Heidelberg gets $5.5 million asking price

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New data has made its way onto the Property Observer chart of the day list - this time a list of the top number of applications in Victoria.
Here are the top areas, according to the Office of State Revenue, Victoria.
 If you're a first home buyer wondering where you can afford - you can see our free suburb data here.
There should be more information coming soon - in the meantime, you can see <a href="/news/vic/where-are-victorian-first-home-buyers-purchasing">how first home buyers differed in their purchasing habits over October to December 201</a>3.
The below data is based on the number of applications for the first home owners' grant.
<img src="/images/2014/05/09/chart-of-the-week-may-9.jpg" alt="">
Source: State Venue Office of Victoria
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jduke-EHk3XBmHkn

Where are new first home buyers purchasing in Victoria?

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State Treasurer Michael O’Brien has billed Victoria’s 2014-15 budget, handed down yesterday, as “a terrific budget for business”, but experts aren’t so sure. 
The budget projects an operating surplus of $1.3 billion in 2014-15, which will grow to $3.3 billion in 2017-18.
The big ticket item in this year’s budget is the promise to <a href="https://www.smartcompany.com.au/finance/tax/32073-payroll-tax-fights-continue-across-the-country-as-south-australian-businesses-demand-permanent-change" target="_blank">cut payroll tax</a> by 0.05%, from 4.9% to 4.85%, from 1 July, which will affect an estimated 39,000 employers.
However, Crowe Horwath tax specialists Adam Mallabone and George Psarrakos, told SmartCompany the cut is “more a headline” than a fundamental structural change to the state’s payroll tax.
Mallabone said while the tax rate is being reduced, there are no planned changes to the tax-free threshold for companies paying payroll tax, which would have been more beneficial for small and medium-sized business.
“The real catch with payroll tax is that it kicks in once a company’s payroll exceeds $550,000 a year,” says Mallabone. “We would have liked to have seen an increase in the threshold so as to exclude a higher number of employers.”
Likewise, Psarrakos says Crowe Horwath does not want to see “employers penalised for hiring more people”.
Mallabone says payroll tax is “the most regressive tax you can get”, and while Victoria’s payroll tax rate has been declining in recent years, it is still higher than other states.
However, the Victorian Employers’ Chamber of Commerce welcomed the move, saying in a statement on Tuesday the cut “keeps Victoria’s taxes competitive against other states and reduces the cost of doing business”.
Elsewhere in the budget, Mallabone and Psarrakos say SMEs and individuals will be affected by an increase in motor vehicle registration fees. Car stamp duty will rise by $0.40 per $200 and light vehicle registration costs will rise from $25 to $270.  
Meanwhile, individuals are expected to save $16 million over four years as a result of the government’s decision to scrap duties payable on life insurance in Victoria.
<a href="https://www.dtf.vic.gov.au/Publications/State-Budget-publications/2014-15-State-Budget/2014-15-Budget-Papers" target="_blank">According to the budget papers</a>, Victorian property investors are also set to pay more land tax in 2014-15 as housing prices in Victoria continue to rise. The value of land tax paid by Victorians is projected to increase by $275.8 million to $1.9 billion, although Mallabone says there will be no actual increase in the land tax rate.
Infrastructure is the big ticket item in the budget, with the government outlining plans to spend up to $27 billion on the state’s road and rail networks, including a remodelled Melbourne Rail Link that will include a train line to the airport.
VECCI chief executive Mark Stone welcomed the infrastructure boost outlined in the budget, which he said will create jobs and stimulate economic growth.
“The budget provides important funding for East West Link Stage 2 as well as funding to progress the Melbourne Rail Link project, both of which will create jobs and are key to enhancing the capacity of Melbourne’s transport system,” said Stone.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Is the Victorian budget “a terrific budget for business”?

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Retailer, developers and owner occupiers are tipped to line up for the sale of a large retail super site in Melbourne's surf coast town of Torquay, which expected to sell for more than $8 million plus. 
Located on Surf Coast Highway, the super site forms Stage 3 of the West Coast Business Park in Torquay.
It is anchored by Bunnings Warehouse, with the retail component complemented by 43 commercial and industrial lots.
Colliers International’s Tom Noonan and Andrew Lewis, in conjunction with DTZ Australia’s Nicholas Bourke and Patrick O’Callaghan, have been appointed to sell a 4.9 hectare property.
<img src="/images/2014/05/07/3.jpg" alt="">
Shell Coles Express and a car wash are pre-committed to the development and will take about 5,600 square metres at the southern end of the site.
“Having two pre-sales contracts to both Shell Coles Express and the car wash provide the eventual purchaser with certainty of income once the construction commences as well as providing a strong anchor for this final stage,” Mr Noonan said.
The development sits opposite the site of the new $26.5 million Torquay Secondary School and $44 million Surf Coast Civic &amp; Community Centre.
Recent sales in the area included the sale of a Bunnings Warehouse on Beacon Boulevard in Torquay for $11.2million, while Coles snapped up the Torquay Central Shopping Centre at 41 Bristol Road for $14 million.
Expressions of interest close June 12. 
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Torquay retail super site expected to fetch $8 million plus

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The strong run enjoyed by Melbourne’s property market has given the Victorian Coalition a big leg up for the 2014-15 budget.
In the state budget papers released yesterday, the Department of Treasury and Finance stated that land tax and land transfer duty will be key drivers for the 7.2% increase in tax revenue expected for 2014-15.
With the latest land revaluation cycle covering 2012-2014, the increase in Melbourne land values over the last year has provided a push for land tax revenue. Earnings from land tax are expected to increase by 16.9% in 2014-15 to $1.90 billion.
Stamp duty also makes up a significant proportion of overall revenue, with land turnover set to contribute $4.44 billion to the total $18.07 billion of tax revenue. Following last year’s sharp increase in transfer duty, the Department of Treasury and Finance has forecast moderate 6.0% per annum growth in forward estimates, with $5.29 billion in land transfer taxation revenue estimated for 2017-18.
A total of $7.47 billion in property tax revenue has been estimated for this year’s budget, including a <a href="/expert-insights/investing/victoria-s-budget-new-tax-for-1-million-property-projects-to-fund-plan-melbourne-scheme">new tax on planning permits for properties</a> valued over $1 million. 
An increase in transport infrastructure spending has been the main focus in the election year state budget. The Napthine government has earmarked $11 billion for the Melbourne Rail Link which is set to connect South Yarra to the Melbourne Airport via underground stations at Domain and Fisherman’s Bend.
 
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Victoria’s budget: O’Brien’s infrastructure spend boosted by revenue from property

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A new levy on planning permit application fees will fund the Victorian government’s $62.8 million commitment to the Metropolitan Planning Authority (MPA).
The Plan Melbourne strategy was drafted by the Coalition government in October last year. Plan Melbourne’s initiatives include accelerated investment in metropolitan hubs and outer growth areas, strategies to facilitate the supply of affordable housing and transport infrastructure investment.
The Victorian government will provide $51.6 million over four years to the Metropolitan Planning Authority to implement Plan Melbourne, which has not yet been finalised.
An additional $11.2 million will be provided over four years to fund short term actions including the delivery of major urban renewal sites and a local “pocket park” fund. The government has also committed cash for a “20 minute neighbourhood” fund. The <a href="https://blogs.crikey.com.au/theurbanist/2013/12/11/the-20-minute-neighbourhood-does-it-make-sense/" target="_blank">20 minute neighbourhood strategy</a> aims to see retail, job, education and recreation precincts within 20 minutes travel time of every home, with a strong focus on non-car transport.
The spending commitment will be funded by new planning permit application fee tax for projects worth more than $1 million. The levy is forecast to raise an estimated $17.1 million per year. To be introduced on 1 July 2015, it is estimated that the levy will be charged to approximately 6% of all planning permits.
According to Minister for Planning Matthew Guy, the increased levy costs would be offset by the benefits of the new planning system.
“Developers face millions in land holding costs every week across Victoria. A fully funded MPA will reduce overall development costs over time by bringing land to market earlier,” said Guy, who claimed that the funding will help drive job creation and investment opportunities.
“Plan Melbourne supports the Coalition government’s commitment to building a stronger Victorian economy by working with development industry to create more jobs right across the State,” said Guy.
“This funding is an important boost for jobs and productivity, by helping the growth and development of significant employment hubs across the metropolitan area and driving the expansion of the central city.
“It will kick start the major employment clusters at Monash, Latrobe, Sunshine and Fishermans Bend, urban renewal a framework for expanding the central city and a metropolitan-wide open space strategy, to promote growth and investment, further increasing their attraction as great mixed use places for businesses, workers and new residents.
“These job centres are a fundamental principle of Plan Melbourne, our new plan for the city, and they mean more jobs and services in Melbourne’s middle and outer suburbs,” he said.
Planning will also begin for urban renewal areas at Cremorne and Collingwood, and along railway corridors from Huntingdale to Dandenong, Brunswick to Batman, and North Richmond to Victoria Park, according to Guy.
“Unlocking land opportunities across Victoria and expanding our central city and urban renewal areas will not only deliver more jobs, more housing and transport options, it will be a major boost for the State’s productivity and economic growth over the next 50 years,” said Guy.
The Victorian branch of the Property Council of Australia has criticised the Victorian government's new property tax despite supporting the increased infrastructure investment, with deputy executive director Asher Judah claiming that the government has an "unhealthy addiction to property taxation."
"The Property Council will vigorously oppose the introduction of a new $17.1 million tax on apartment buyers to fund the activities of the new Metropolitan Planning Authoirty," said Judah.
"While we welcome the increase in funding for the MPA, a government projecting multi-billion surpluses shouldn’t be introducing new property taxes. This action combined with the 2013 expansion of the Congestion Levy exposes a Government with an unhealthy addiction to property taxation.
"Property owners across Victoria will also be uneasy about the government’s plans for new taxes via asset value capture mechanisms (AVC). AVC already exists in the form of land tax and local council rates. Any move by the government to triple tax property value uplift will face fierce opposition from the industry.
"Over the next four years, tax revenue sourced from property will increase by over $2.3 billion. Increases in Stamp Duty, Land Tax, Fire Services Property Levy and the Car Parking Levy each reflect a growing and unhealthy addiction to property taxation."
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Victoria’s budget: New tax for $1 million property projects to fund Plan Melbourne scheme

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The $250 million Green Square apartment complex in Melbourne’s Abbotsford has been completed.
Offering 500 apartments, the Salta Properties project was unveiled yesterday after a tour by Victorian Planning Minister Matthew Guy.
Constructed by Icon Construction, the project engaged around 400 workers in peak construction periods. Green Square is a four tower apartment complex built around an outdoor entertainment area, set behind the Terminus Hotel on Victoria Street. The project includes a library, an indoor/outdoor swimming pool, gym and rooftop barbecue.
Apartments in the complex are still available, starting from $415,000.
According to Salta Properties managing director Sam Tarascio, the completion of Green Square three months ahead of schedule was spurred by demand in the area.
“Green Square epitomises a new era of apartment living in Melbourne and it has been a popular choice for astute investors and owner occupiers. This has enabled Salta Properties’ to fast track the off the plan development,” said Tarscio.
“Salta Properties is now working to commence the next stage of development at Victoria Gardens Precinct, to accommodate Melbourne’s growing population and business community as well as provide industry jobs to hundreds of workers over the next few years.”
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Victoria Gardens Green Square apartment development completed

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The recently launched Loddon Mallee South Regional Growth Plan, from Victorian Planning Minister Matthew Guy, has signalled that Bendigo’s previous envisaged density plans need revision as growth in the region becomes a state focus.
With plans for significant growth in <a href="/news">Bendigo</a>, <a href="/news">Maryborough</a>, <a href="/news">Castlemaine</a>, <a href="/news">Gisborne</a> and <a href="/news">Kyneton</a>, the plan found that in most of the areas enough land is vacant and ready for residential supply to support the population growth.
However, within Bendigo itself, and with a push towards growing the strength of the area as a regional city, it signalled that different forms of development must be considered.
“Alternative forms of housing (beyond greenfield development) need to be explored, such as shop-top housing and multi-unit developments,” the plan discussed, pointing to an expected continuation of the number of single-person households.
Similarly, housing for the elderly is also a point of consideration.
The report further mentioned that infill development opportunities would need to be identified, and that higher density requirements than previously envisaged would require a “review of land use control”. This may prompt some rezoning in the area. Jobs and business growth were also key features of the report.
Guy noted that the long-term vision to manage growth and change looks to protect the valued assets and character of the region, as well as focus on the strong population and economic growth currently.
“For the first time we have concurrent plans for the metropolitan area and all regions of Victoria. No other state in Australia has approached its long-term planning in this comprehensive way,” said Guy.
Photo courtesy of <a class="owner-name truncate" href="https://www.flickr.com/photos/wafonso/" target="_blank" title="Go to Wilson Afonso's photostream" data-track="attributionNameClick" data-rapid_p="23">Wilson Afonso</a>/Flickr.
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