For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <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>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Albert Park

<html><body>
What a different two year price pattern after a very modern 2014 Albert Park renovation.
The latest vendor secured a sizeable price gain between 2013 and 2015. It is on the same street as the recent series of The Block warehouse conversion.
<a href="https://www.realestate.com.au/photogallery_new.ds?id=119703715&amp;theme=rea.sold" rel="photos" data-id="119703715"><img src="https://i1.au.reastatic.net/800x600/b51c5162f8045df6de8df9b50b93bf53cb285e63a556451e101932587b83d1bc/image2.jpg" alt="54 O'Grady Street, Albert Park" title="54 O'Grady Street, Albert Park" data-index="2"></a>
The prior vendor went backwards in the period 2011 and 2013, albeit by just $24,500.
54 O'Grady Street Albert Park sold through agent Warwick Gardiner at $1,875,000 at weekend Greg Hocking Holdsworth auction.
It previously sold at $1,000,500 in April 2013, prior to its second storey master bedroom extension.
In April 2011 it sold at $1,025,000.
<a href="https://www.realestate.com.au/photogallery_new.ds?id=119703715&amp;theme=rea.sold" rel="photos" data-id="119703715"><img src="https://i4.au.reastatic.net/800x600/a7bd57df6a7cdb6a5026d18bd69225692d2f1c20fd7b66aeff75fc32103adad8/image13.jpg" alt="54 O'Grady Street, Albert Park" title="54 O'Grady Street, Albert Park" data-index="13"></a>
It was not for the first time, the price of the cottage had faded.
In 2001 it traded a $195,000 having sold in 1996 at $230,000.
In another two year ownership tenure, the much traded cottage sold in 1982 for $58,500 and in 1984 at $81,500.
</body></html>

jchancellor-FAypfDUnLy

Albert Park offering heads upwards after going backwards

<html><body>
Tom and Joy Williams, who bought Kyal and Kara's apartment on The Block Albert Park television series, are selling their nearby Albert Park home.
It's the former 1896 bakery at 1a College Place.
With separate living and dining spaces, the five bedroom property is tipped to fetch more than $2.9 million at its 31 May auction.
There is an upstairs retreat at the 300 square metre holding.
<a href="https://www.realestate.com.au/property-house-vic-albert+park-116896327" target="_blank">Warwick Gardiner, of Greg Hocking Holdsworth, has the listing</a> which traded at $860,000 in 1998.
Kyal and Kara’s apartment at <a href="https://www.realestate.com.au/property-apartment-vic-albert+park-116390163" target="_blank">2/47 O’Grady Street, Albert Park </a>sold 8 April through Cooley Auctions, one of four apartments installed into a red brick former silent cinema turned office warehouse that was offloaded <a href="/news"></a>by a company associated with <a href="/expert-insights/investing/the-block-albert-park-warehouse-price-appreciation-in-history">Lloyd Williams</a>, the Melbourne property developer to The Block production company.
<a href="/news/substance-over-style-as-chantelle-and-steve-win-the-block-2014-fans-v-faves">The Block Albert Park results</a> were as follows:
<ol>
<li>Steve and Chantelle, 1/47 O’Grady: $2.47 million ($636,000 above the adjusted reserve)</li>
<li>Alisa and Lysandra, 3/47 O’Grady: $2.375 million ($616,000 above the adjusted reserve)</li>
<li>Kyal and Kara, 2/47 O’Grady: $2.44 million ($567,250 above the adjusted reserve)</li>
<li>Brad and Dale, 4/47 O’Grady: $2.31 million ($507,250 above the adjusted reserve)</li>
</ol>
</body></html>

Albert Park former 1896 bakery listed in The Block aftermath

<html><body>
Albert Park's record price has swung from the beachfront Beaconsfield Parade to the stately St Vincent Place estate.
There's no paperwork trail as yet, but Hollyford, the much admired 1873 residence, is the most likely home to now hold the mantle of the suburb's top sale.
Local agents suggest its undisclosed price is the suburb's first $10 million plus double digit million dollar sale, and some agents tell Property Observer it possibly even got up around $12 million.
Hockingstuart is being credited as the selling agency, though they say confidentiality clauses prevent confirmation of any details regarding the off-market mystery sale.
Hollyford was built about 17 years after St Vincent Place was laid out, modelled on the English idea of houses clustered around its central landscaped gardens.
The heritage listed St Vincent Place home comes with <a href="https://nma.net.au/project/st-vincents-place/" target="_blank">rear Nicolas Murray-designed extension</a> on its 480 square metre block.
The project involved restoring the front four rooms of an Italianate Victorian double fronted house along with a full width linear pond which marks the transition to the modern more informal living spaces which flows onto the garden and lap pool. 
There apparently is a glazed walkway crossing the pond.
The rear double storey heritage stables are separate guest quarters and garaging.
<img src="/images/2014/05/13/albert%20park%20may%2013%20two.jpg" alt="">
It last sold in 2002 at around $2.2 million.
Hollyford, which has its 1873 construction date on its gorgeous vined facade, was the home of the mariner, Thomas Mowbray Hutchinson, according to the land title documents that Property Observer has researched. He owned the holding from 1867 to 1875, there with his wife, Honora and six children. He died in 1888 in Chusan Street, St Kilda with a subsequent <a href="https://paperspast.natlib.govt.nz/cgi-bin/paperspast?a=d&amp;d=ST18890325.2.7" target="_blank">1899 court case</a> over his estate.
<img src="/images/2014/05/13/albert%20park%20may%2013%20one.jpg" alt="">
Then pawn broker James Healy owned Hollyford for just 14 months. The Hammond family held the property from December 1876 until its sale to the Ryan family from Tipperary in 1899. It seems they gave the house its name as Hollyford is a small village in County Tipperary. The best known family member was George Ryan, who died in 1986, and was old enough to recall the picket fence left over from St Vincent Place's days as a racecourse. The Ryan's sold around 2002.
St Vincent Place's previous highest sale was $6.62 million when <a href="/expert-insights/buying/12590-weekend-auction-wrap-where-the-hammer-fell" target="_blank">Rosebank</a> sold unrenovated at its 2011 Marshall White auction where there were four bidders, highlighting the depth of prestige buyer interest when properties hit the market. The 1866 double-fronted Victorian home was up for sale for the first time in over 52 years.
The street's last big listing, No. 85 (pictured below), on a corner at the southern end of the square, a late-Edwardian solid-brick mansion with lacework and balconies, settled earlier this year at $6.2 million, but only on its second attempt through <a href="https://www.realestateview.com.au/Real-Estate/st-vincent-place-albert-park/Property-Details-sold-residential-5520745" target="_blank">Cayzer Real Estate</a>.
<img src="/images/2014/05/14/albert%20park%20may%2014%20one.jpg" alt="">
It had sold at $4.8 million in 2009 when offloaded by veteran stockbroker Peter Hollick, nicknamed "the red bullet".
Then known locally as "the big red brick one on the corner with the red Porshe out front", Hollick moved to a 17th floor apartment at Becton's One East Melbourne development, on Wellington Parade South near the railcards, costing $3.6 million.
Albert Park's prior record was Duart, the $7.25 million mansion sold in late 2009 on Beaconsfield Parade by the Salvo family to Sonia Hill, wife of Globe International founder Stephen Hill through Hockingstuart.
Gallery photos courtesy of <a href="https://nma.net.au/" target="_blank">Nick Murray Architects</a>.
</body></html>

Hollyford, St Vincent Place - mooted $10 million plus record setting Albert Park mansion

<html><body>
Collingwood captain Scott Pendlebury is selling his Albert Park abode.
Pendlebury purchased the double-fronted Victorian house at 23 Boyd Street in late 2011 for $1.3 million, as he moved from <a href="/news/vic/scott-pendlebury-secures-newport-cottage-offer">Newport</a>.
With his fiancee Alex Davis, he is now looking to buy something larger, possibly in much the same neighbourhood.
Pendlebury attended the recent no-bid auction of 164-166 Nelson Road, South Melbourne (pictured below), a double-fronted five bedroom, three level Edwardian that was renovated a couple of years ago by architect Dean Lewis with interiors designed by Kerry Phelan. It has been listed with as yet unrealised $4.5 million hopes.
<img src="/images/2014/04/15/south%20melbourne%20april%2015.jpg" alt="">
Pendlebury's current three bedroom home has another bedroom in a self-contained studio at the rear.
John Holdsworth, of Greg Hocking Holdsworth, is quoting $1.5 million plus for the 26 April auction.
</body></html>

Collingwood skipper Scott Pendlebury lists Albert Park abode

<html><body>
The rookie renovators took out the $100,000 prize on top of a $636,000 profit on the series finale of The Block: Fans v Faves.
Despite copping the lion’s share of the criticism this season, Geelong couple Steve O’Donnell and Chantelle Ford attracted the highest price for their warehouse conversion which sold for $2.47 million.
All four apartments on The Block sold within a relatively small price margin, with Brad and Dale bringing up the rear with $2.31 million.
The results were as follows:
<ol>
<li>Steve and Chantelle, 1/47 O’Grady: $2.47 million ($636,000 above the adjusted reserve)</li>
<li>Alisa and Lysandra, 3/47 O’Grady: $2.375 million ($616,000 above the adjusted reserve)</li>
<li>Kyal and Kara, 2/47 O’Grady: $2.44 million ($567,250 above the adjusted reserve)</li>
<li>Brad and Dale, 4/47 O’Grady: $2.31 million ($507,250 above the adjusted reserve)</li>
</ol>
The top two teams would hardly have minded losing the final challenge to Kyal, Kara, Brad and Dale, who got $27,250 lopped off their reserve price against the twins’ and Steve and Chantelle’s $16,000 reserve cut.
Steve and Chantelle originally preferred apartment 2 for its city views, but after losing a coin toss to Kyal and Kara, chose apartment 1. While Kyal and Kara’s apartment at 2/47 offers both a sunny northerly aspect and city views, 1/47 also sits at the northern street side of the warehouse, with the advantage of windows all along the building’s western side.
Despite the team’s inexperience and the criticisms levelled against their styling credentials, the apartment’s stellar location had them take out the major prize. As one property expert commented, “You can change the furnishings, but you can’t change the aspect.”
But it seemed that perhaps one of the greatest factors at play was the order in which the auctions took place, with prices ascending with each successive auction. Each team nominated their position in the proceedings, with Brad and Dale choosing to go first, followed by Kyal and Kara, then Alisa and Lysandra before Steve and Chantelle.
By volunteering for final position, the winning couple were able to take advantage of buyer desperation with all other apartments already sold.
Proceedings opened with Brad and Dale’s apartment, auctioned by Karl Gillon of Buxton Albert Park. A vendor bid was placed at $1.75 million, finishing at $2.31 million. Kyal and Kara’s apartment was auctioned by Warwick Gardiner of Greg Hocking Holdsworth, who brought in $2.44 million for the married couple. Next was Alisa and Lysandra’s tri-level, auctioned by Anton Wongtraken of Dingle Partners, who handled the sale of their winning apartment on The Block: Sky High. 
Steve and Chantelle’s auction by David Wood of Hocking Stuart saw two buyers’ agents locked in a bidding war, with Block mainstay Frank Valentic of Advantage Property Consulting securing the final apartment for a young couple at $2.47 million. The result makes Steve and Chantelle's profit margin the highest ever seen in The Block's 11 year history.
</body></html>

jrichardson-uRX5hFdKfN

Substance over style as Chantelle and Steve win The Block 2014 Fans V Faves

<html><body>
An independent depreciation assessment of the four apartments up for auction next week has identified significant potential deductions for The Block’s buyers.
BMT Tax Depreciation has undertaken a depreciation assessment on each of the <a href="/news">Albert Park</a> apartments completed on this season of The Block and found that each offers major deduction opportunities, with potential first year deductions of about $50,000.
According to BMT Tax Depreciation managing director Bradley Beer, the renovated properties could be underlying goldmines for buyers. 
"An investor purchaser could claim a minimum of $46,281 and a maximum of $53,995 as an average first year depreciation deduction for one of the four properties," said Beer.
Beer says that despite legislation allowing all owners of income producing property to claim depreciation deductions for the wear and tear of their property and its contained assets, 80% of property investors fail to take full advantage of their depreciation deduction entitlements.
"Investors who don't claim depreciation are missing out on thousands of dollars in their pockets," said Beer.
BMT Tax Depreciation also prepared depreciation reports for the 2012 and 2013 Block properties.
The four apartments on O’Grady Street in Albert Park will be auctioned on Tuesday April 8, with the results airing on Channel 9 on Wednesday April 9.
 
</body></html>

Hidden depreciation opportunity for The Block: Fans v Faves properties

<html><body>
There’s less than a week until the four apartments of The Block: Fans v Faves go up for auction, and fan team Kyal and Kara are in great shape to take out the big prize. With experience and some serious dollars on their side, the so-called Super Ks have carried out a veritable blitzkrieg on their Block competitors.
This week, the couple added their rooftop terrace to their room win list, which stretches longer than that of any other team this season. Their huge terrace not only boasted the best fittings, including a mirrored splashback and granite benchtops in their outdoor kitchen, but also city views. 
According to carpenter Kyal, the terrace is the highlight of their apartment.
“We’re probably the most proud of our rooftop terrace,” said Kyal. “That’s part of the reason we picked that apartment, just because it had that aspect and that view. We worked really hard on it and have done something really amazing, and hopefully that’s reflected on the auction day.”
With a slightly smaller downstairs living area than the other teams, the Ks have thrown all they have into the upstairs terrace space, and it shows. <a href="/expert-insights/the-block-on-show-at-this-weekends-open-for-inspection">On open for inspection day</a>, it was the only terrace that didn’t feel crowded despite the masses of spectators, with ample cooking, dining and living space.
Kyal says that if the couple had their time again, they wouldn’t change any of their decisions.
“We often ask ourselves what we would do if we had the opportunity to pick another apartment,” he said. “But we keep coming back to that aspect and that view. The downstairs terrace has really amazing arched windows at the front – we’re so glad we picked that apartment.”
Thanks to a killer run throughout the competition, the Ks have managed to collect a tidy sum of prize money which was poured back into their property.
“We’re so proud of what we’ve achieved, and received a lot of good feedback, especially with the finishes. We’ve obviously pumped an extra $50,000 into our apartment, so we’ve been able to get high quality furnishings, high quality appliances,” said Kyal.
But it wasn’t just the extra money that put Kyal and Kara ahead of the pack. As a carpenter, Kyal brought his construction experience to the competition which, along with Kara’s formidable design chops, gave the team an edge.
“Being a carpenter helped us out a lot, especially with time. The other teams would have to stop when their builders went home, but we could keep going round the clock if we needed to,” said Kyal.
Nevertheless, it wasn’t all easy for the team, who struggled along with all the other contestants with The Block’s punishing schedule.
“The toughest week was the week we did the loungeroom/dining room hallway and virtually completed the entire downstairs, and then did the upstairs. That was back to back. So finishing off the interiors was the toughest thing. Especially with the stairwell - we had all the timber work going up the stairwell, going 10 metres high.”
As for life after Tuesday’s auction, the couple are planning to launch a boutique renovations company called Diverse Design and Construct. Kyal says that the couple are considering a move from their home by Tuggerah Lakes on New South Wale’s central coast.
“We haven’t thought about it too seriously, but our long term goal is to get ourselves as close to the coast as possible. So we’re thinking about selling, maybe in the next 12 months.
“Obviously we’ve put so much work into renovating our own home though, so it might be tough to see that go.”
Kyal and Kara’s apartment at <a href="https://www.realestate.com.au/property-apartment-vic-albert+park-116390163" target="_blank">2/47 O’Grady Street, Albert Park </a>will be selling at auction on Tuesday April 8.
</body></html>

Albert Park

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Albert Park

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News