Lendlease’s Barangaroo South precinct is officially complete, marking the culmination of a 15-year urban regeneration project that has revitalised Sydney’s harbourfront.&nbsp;

In 2009, the NSW Government’s Barangaroo Delivery Authority appointed <a href="https://www.apartments.com.au/developers/lendlease-development">Lendlease</a> as developer to transform what was once an inaccessible container port on the western edge &nbsp;of Sydney’s CBD into one of the city’s most thriving mixed-use destinations. Today, Barangaroo South is home to more than 1,800 residents, 23,000 workers, 95 retailers and welcomes 33,000 visitors each day. The precinct stands as an international benchmark for large-scale urban regeneration.&nbsp;

International Towers Sydney, the three flagship commercial buildings at the centre of &nbsp;Barangaroo South, together with engineered timber buildings Daramu House and &nbsp;International House, attracted major corporate tenants from the outset, including Westpac, &nbsp;PwC and KPMG, who are still there today. These workplaces remain some of the most &nbsp;sought after in Sydney’s CBD with over 95 per cent occupancy– a testament to the appeal of world-class, modern infrastructure alongside the precinct’s dining and entertainment that &nbsp;are a drawcard for businesses.&nbsp;

One Sydney Harbour, the three luxury residential towers designed by world-renowned architect Renzo Piano, has achieved more than $4 billion in sales since its launch in 2019, while setting new Australia property price records. This includes the three-level penthouse that crowns Residences One which sold for more than $141 million in 2019 – the most expensive individual residential property ever sold in Australia. &nbsp;

[smartcode_project:default project_id=139801 project_image_fid=349150]

Barangaroo South is also Australia’s first mixed-use carbon-neutral development, an accolade achieved through energy-efficient and innovative infrastructure, including a district cooling plant with a harbour water heat rejection system, a recycled water &nbsp;treatment plant, onsite solar and an embedded electricity network.

The precinct has maintained its Climate Active Carbon Neutral certification since 2019, affirming its &nbsp;reputation as the gold standard in large scale, sustainable urban renewal. Additionally, its &nbsp;world leadership status has been validated by the Green Building Council of Australia’s &nbsp;6 Star Green Star Communities recertification (Pilot v.2).

[smartcode_project:default project_id=139801 project_image_fid=349157]

First Nations cultural values were embedded throughout the planning and delivery of the project. The precinct honours Barangaroo, a prominent First Nations woman, through its &nbsp;name. Public art, street names, and design elements across the precinct reflect and &nbsp;celebrate First Nations cultures and connections to Country.&nbsp;

The project's completion positions Barangaroo South as a legacy urban transformation delivered through long-term partnerships and world-leading urban regeneration and placemaking capabilities. &nbsp;

[smartcode_project:default project_id=139801 project_image_fid=349154]

Tony Lombardo, Group CEO Lendlease, said&nbsp;Barangaroo South represents one of the most significant urban regeneration projects in Australia.

"[It] demonstrates what can be achieved through an ambitious vision, innovative placemaking, long-term commitment and strong partnerships. The precinct has changed the face of Sydney's waterfront, established new benchmarks &nbsp;for sustainable development, and provided a model for urban regeneration that continues &nbsp;to inform our approach to creating places that deliver long-lasting value.”&nbsp;

Tom Mackellar, CEO Development Lendlease, said&nbsp;Barangaroo South has reconnected the city to its harbour in a way that seemed unimaginable 15 years ago and turned it into a thriving precinct where people can live, work and gather on the harbour’s edge.&nbsp;

“This precinct is the result of countless contributions, led by the NSW Government who set the ambition, supported by investment partners who believed in Lendlease’s vision, imagined by architects and designers, shaped by consultants and artists, and brought to &nbsp;life by our dedicated construction teams. &nbsp;

“What we’ve created here is more than buildings – it’s the best of placemaking, sustainability, arts and culture and quality design. Barangaroo South has become an integral part of Sydney that will serve our city and economy for generations.”

Staff Writer

Barangaroo South’s 15-year transformation of  Sydney’s waterfront officially complete

CBE Asia Pacific has lodged plans for a prominent corner site in Fitzroy North, with a proposal that integrates state-significant affordable housing alongside heritage adaptation and new retail.

The application covers a consolidated 2,024 sqm parcel at 201–215 Queens Parade and 6–12 Dummett Crescent. The site includes the heritage-listed Former Clifton Motor Hill Garage, fronting Queens Parade, and vacant land to the rear abutting Dummett Crescent.

According to planning documents prepared by proUrban, the proposal seeks approval for a 12-storey residential building comprising 98 apartments, including a component of affordable housing, over a ground floor retail podium integrated within the heritage structure. Approximately 780 sqm of retail space will occupy the ground floor, while residents will have access to over 850 sqm of communal amenity.

The built form presents as two connected volumes: a 12-storey tower addressing Dummett Crescent and a five-storey volume fronting Queens Parade, the latter consistent with a separate Heritage Victoria permit granted in 2023. The tower reaches a maximum height of 38.26 metres, with upper-level setbacks of 14 metres from the western boundary to reduce visual bulk. A 1.5-metre footpath widening is proposed to Dummett Crescent Lane.

Parking is provided across four basement levels, accessed via Dummett Crescent, with a total of 142 car spaces and 143 bicycle spaces.

The architectural response by <a href="https://www.apartments.com.au/architects/cht-architects">CHT Architects</a> is framed by a need to reconcile new density with a sensitive heritage overlay. The Former Clifton Motor Hill Garage, identified as a place of State heritage significance, will retain its key façades, with demolition and reconstruction limited to approved elements.

As noted in the Heritage Impact Assessment, the proposal remains consistent with the Heritage Victoria permit, which allows "partial demolition, reconstruction and new works, involving the construction of a five-storey multi-use development and three basement levels".

Affordable housing has been embedded into the proposal under Clause 53.23, with specific apartment allocations aimed at enhancing housing diversity within the Queens Parade Activity Centre.

"The proposal is generally consistent with the relevant policy objectives and the intent of the Yarra Planning Scheme," proUrban states in its planning assessment, citing its alignment with strategic documents including Plan Melbourne and Victoria’s Housing Statement.

CHT Architects' plans emphasise a tiered design that acknowledges the site's varied interfaces—from the elevated Heidelberg Road ramp reserve to the recently built Clifton Views aged care facility to the north-east.

CBE Asia Pacific has not been previously active in this precinct, but the project joins a wave of higher-density residential proposals along the Queens Parade corridor, spurred by Melbourne’s broader push to increase affordable housing in well-connected inner-urban areas.

The site benefits from direct access to the Queens Parade tram corridor and proximity to Clifton Hill Station (approximately 200 metres), as well as green open spaces including Mayors Park and Raines Reserve. Clifton Hill Primary School and the Queens Parade retail village lie within walking distance.

First look: CBE Asia Pacific plans 100-apartment Jenkin House on Queens Parade, Fitzroy North

ALT Pasta, one of Melbourne’s most beloved inner-city pasta bars, has been confirmed as one of the first tenancies for the highly anticipated <a href="https://www.apartments.com.au/new-apartments/comme-prahran-182-194-commercial-road-prahran-vic-3181">Comme Prahran</a> development, marking an exciting next chapter for the cult favourite as it prepares to expand into the heart of <a href="https://www.apartments.com.au/developments/prahran-vic-3181">Prahran</a>.

Fresh off being named National Best Italian Restaurant at the 2025 Restaurant &amp; Catering Hostplus Awards for Excellence, ALT continues to solidify its reputation as a quietly confident leader in Melbourne’s dining scene. Lauded for its reinterpretation of Italian pasta through a Korean and Japanese lens, the restaurant has grown into a staple since opening three years ago, and its new Prahran outpost will only deepen its local impact.

“From the very beginning, ALT has been about respect - for tradition, for ingredients, and for the process,” shares Mino Han, ALT’s founder, a Korean-Australian chef whose vision is shaped by cultural duality and craftsmanship.&nbsp;

“We’re not trying to reinvent the wheel, just make something beautifully familiar, feel quietly special,” added Han.

[smartcode_project:default project_id=108413 project_image_fid=353585]

Positioned at the entrance to Comme Prahran and directly opposite the iconic Prahran Market, the new venue will celebrate the interplay between casual comfort and elevated detail. Designed in collaboration with Rooftop Architecture, the same team behind ALT’s flagship city location, the space will mirror the neighbourhood’s laid-back energy while staying true to the brand’s understated refinement.

Diners can expect a frequently changing menu that takes advantage of the market’s daily produce, along with set menu offerings exclusive to this location. A distinctive chef’s table and open kitchen format are also in the works, allowing guests to experience ALT’s signature intimacy and transparency in a new light.

ALT Prahran won’t replace the original venue; rather, it complements it.

“Our city site is like our heritage bottle; it’ll age gracefully. Prahran is where we’ll play, explore new ingredients, and bring something special to the community,” Mino notes.

[smartcode_project:default project_id=108413 project_image_fid=353584]

For Comme Prahran, a boutique development by Leeka that blends heritage with multi-dimensional wellness, ALT Pasta’s arrival signals a meaningful addition to its vision of cultural connection, food-first living, and local engagement.

“Being part of Comme is more than just opening a second venue. It’s about contributing to a neighbourhood with character, history, and a strong sense of community. That’s something we deeply relate to,” says Mino.

Sustainability and cultural identity are deeply embedded in the ethos of ALT. From ingredient sourcing to interior design, the new location will reflect both environmental mindfulness and a spirit of inclusion, embodying the values of Melbourne’s diverse, forward-thinking culinary scene.

Comme Prahran is scheduled for completion in late 2027, with ALT Pasta expected to be among the first tenancies to open its doors shortly after.

[smartcode_project_cta:default project_id=108413]

National best Italian restaurant ALT Pasta to open at Comme Prahran, bringing refined familiarity to Melbourne’s culinary heart

National BEST Italian restaurant ALT Pasta to open at Comme Prahran

&nbsp;Boutique development and construction firm Ryser has filed plans for its debut apartment building.

Ryser, founded by Jonthan Ryan and Wil Prosser, has sought to develop <a href="https://www.apartments.com.au/new-apartments/sorelle-4a-fern-place-woollahra-nsw-2025">Sorelle</a>, 28 new apartments at 4a Fern Place, Woollahra.

The&nbsp;750 sqm site on the edge of Bondi Junction falls within the Grafton Precinct Heritage Conservation Area, though it is currently vacant and not identified as a contributory item.&nbsp;

<a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> has been commissioned to design Sorelle, creating an eight and a nine-storey building with six apartments dedicated to affordable housing to support essential workers&nbsp;under the NSW Government’s low and mid-rise housing policy.

The dwelling mix includes 12 one-bedroom units, six one-bedroom affordable units, six two-bedroom units, and four three-bedroom residences.<img alt="4A Fern Place, Woollahra." data-entity-type="file" data-entity-uuid="86626941-772d-49c5-8d31-a8e42f44cdcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Fern%20bldg%20st.png?VersionId=tWIzXYX9gD60nP1L3..Z0BFbY5mafb36" />

According to the planning documents submitted to the Woollahra Council, the development responds to the complex interface of heritage fabric and urban infrastructure with two mid-rise residential buildings oriented to the north and designed to capitalise on sweeping views over Sydney Harbour and Bellevue Hill.&nbsp;

“The proposal aims to hero some of the brick detailing of Woollahra, celebrating the existing datums of Fern Place, whilst embracing the strong verticals of the Holy Cross Church and Bondi Junction with a nod to the historic iron works and iron rich soils of the area,” Woods Bagot noted in their Design Report.

&nbsp;

Only three car parking spaces are proposed, alongside 33 bicycle bays, in a move that leverages the site's proximity to Bondi Junction train station, just 400 metres away.

Architecturally, the material palette incorporates Corten steel and face brickwork to reference the site’s industrial past and local geological character. Landscaping features include a communal garden bridging the two buildings at ground level, landscaped setbacks to protect visual privacy, and a small corner park intended to soften the public interface.

<img alt="4A Fern Place, Woollahra." data-entity-type="file" data-entity-uuid="f71766d6-aa14-44df-9bc5-42f91890fd4a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Fern%20bldg%20rear.png?VersionId=uh7u1rJ6NJF5OqyRs9iNJcy6R9ssgaXU" />

Ryser said Sorelle "brings together the best of both worlds, the intimacy of village life with the amenity and luxury of modern design."

The developer said the project marks the first of three developments they will be announcing shortly, a key step in their&nbsp;evolution as a builder-developer delivering meaningful, high quality urban outcomes across Sydney.

The expectation is the Woollahra LGA will become popular for developers with the signal from the NSW Government they will deliver&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw" target="">Sydney</a>’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around&nbsp;<a href="https://www.apartments.com.au/developments/woollahra-nsw-2025" target="">Woollahra</a>&nbsp;and&nbsp;<a href="https://www.apartments.com.au/developments/edgecliff-nsw-2027" target="">Edgecliff</a>&nbsp;stations.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/next-stop-woollahra-train-station-delivering-up-to-10-000-new-homes-in-the-heart-of-sydney">Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney&nbsp;</a>

Joel Robinson

First look: Ryser plans two apartment buildings on Woollahra, Bondi Junction border

ASX-listed developer <a href="https://www.apartments.com.au/developers/cedar-woods" target="">Cedar Woods</a> didn’t miss a beat when the opportunity arose to acquire a prime residential development site in one of Perth’s most popular suburbs. In 2019, the developer secured the former Wembley TAFE site, a 1.4-hectare parcel perfectly positioned on the western edge of <a href="https://www.apartments.com.au/developments/subiaco-wa-6008" target="">Subiaco</a>’s vibrant centre.

The first stage, <a href="https://www.apartments.com.au/new-apartments/incontro-subiaco-133-salvado-road-subiaco-wa-6008">Incontro Townhomes</a>, delivered 41 contemporary homes that embrace the suburb’s unique blend of nature and urban energy. Now, Incontro Apartments continues that story, offering a collection of new residences in a market limited with new residential stock. The rarity of a development in such a prime pocket hasn't been lost on buyers, with more than 60 per cent already sold in the early stages of construction.

[smartcode_project:default project_id=108869 project_image_fid=317909]

Set on the tree-lined Bishop Street, in a quiet pocket within Western Subiaco, Incontro Apartments offers convenient access to several lush parks and recreation spots.&nbsp;

Within the estate is Incontro’s Little Green, a linear park that connects the Incontro townhome precinct with the future apartment building. This peaceful stretch of landscaped parkland features shaded seating and communal spaces for residents to relax and interact close to home.&nbsp;

Less than 400 metres away is find Henderson Park, a perfect spot for morning walks, weekend picnics or casual exercise. Neighbouring Henderson Park is Mabel Talbot Park, home to Jolimont Lake and a playground, while just a little further lies Pat Goodridge Park, offering a large sports field and another playground.&nbsp;

[smartcode_project:default project_id=108869 project_image_fid=325604]

For something closer to home, Subiaco Common provides a peaceful green retreat right on your doorstep - ideal for reading under the trees, walking the dog or relaxing with friends.

Beyond the parks and open spaces, Incontro residents are just moments from everything that makes Subiaco such an enviable place to live.&nbsp;

Down the road is Bishop Street Café, a local favourite for a morning caffeine fix. Subiaco’s Rokeby Road and Hay Street are lined with retailers, cafés, vibrant bars and some of Perth’s most loved dining spots, from long lunches at Refuge Small Bar or Juanita’s, to weekend brunch at Community Coffee Co. or Boucla Café. Add to that a strong sense of local community, regular markets, and the energy of Subiaco Square, and it’s easy to see why Subiaco continues to be one of Perth’s most liveable and in-demand suburbs.

[smartcode_project:default project_id=108869 project_image_fid=325605]

Construction of Incontro Apartments is now underway by <a href="https://www.apartments.com.au/builders/emco-building">EMCO Building</a>. With completion expected in mid-2027, buyers have the chance to join a thriving Subiaco community in the not-too-distant future. &nbsp;

One-bedroom apartments are now sold out, with only a selection of two-bedroom apartments and just three three-bedroom residences remaining. Each features generous layouts, stylish finishes and private balconies to enjoy the leafy outlook that makes this Subiaco address so special. Prices start from $925,000*.

[smartcode_project_cta:default project_id=108869]

Over 60 per cent sold as Incontro Apartments captures Subiaco’s leafy appeal

Capital

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Amid media’s multiple orgasms over Sydney price rises, the factor overlooked is how poorly the city had performed on capital growth in the decade before its belated resurgence. 
Hotspotting’s latest survey for the Capital Growth Superstars report shows that Sydney still ranks only fourth among the capital cities for long-term capital growth. Perth is No.1, marginally ahead of Melbourne and Darwin.
Perth’s market peaked in the middle of 2013 and been gradually subsiding since then – but, in terms of long-term growth rates, it still has more suburbs with strong growth averages than any other capital city. All but one of the Perth Top 20 average above 9% per year (which means property doubles in value every eight years).
The recent Sydney boom has elevated the city from 6th late in 2014 to 4th in mid-2015 – an improvement, but still mediocre for long-term growth. Fourteen of Sydney’s Top 20 suburbs have long-term growth rates below 8% - not nearly good enough to make the Top 20 lists for Melbourne, Perth or Darwin.
No suburb in the vast Sydney metropolitan area has a double-digit growth rate. The best is Pemulwuy (median price $720,000) in the city’s western suburbs, with a long-term growth rate of 9.5% per year. Most of the suburbs in the Top 20 have growth rates in the 7.0% to 8.0% range.
At first glance, it appears that the Top End suburbs dominate Sydney’s Top 20 list, as 19 of the Top 20 (all except Pemulwuy) have median prices above $1 million. But, in fact, these are mostly suburbs a tier below the Top End.  
In Sydney, the 15 most expensive suburbs all have median house prices above $2 million. None of the 20 most expensive suburbs (all with median prices above $1.9 million) make the Sydney’s Top 20 list for long-term capital growth. Most of them have growth rates below 5% per year.
Sydney’s Top 20 is dominated by 15 suburbs in the $1 million to $1.5 million range, which is Sydney’s second tier market.
This factor is common to most of the capital cities. Most of the Top 20 lists, including those in Melbourne, Brisbane, Adelaide and Canberra, are dominated by the middle market. The exception is Perth, where the cheaper end of the market fills most of the spaces on the Top 20 list. 
In Sydney, the outstanding precinct is the Ryde LGA on the lower North Shore, which has four suburbs in the city Top 20. Ryde is the only municipality with more than two suburbs in the Top 20. Its four top suburbs are Eastwood, Ryde, Denistone East and West Ryde, all with median prices in the $1.1 million to $1.3 million range.
The prestige end of the market, suburbs with median house prices above $2 million, continues to deliver poor capital growth rates. Indeed, three of the most expensive suburbs of Sydney are included in the Bottom 20 list of suburbs with the worst growth rates in the city.
Vaucluse (median $3.4 million), Palm Beach ($2.6 million) and Clontarf ($2.5 million) all have growth rates of 2.1% per year or less. Clontarf’s 1.3% grow rate means it would take 55 years for property to double in value (compared to eight years for Pemulwuy).
There are four other million-dollar suburbs on the Bottom 20 list.
The worst precinct in Sydney for capital growth is the Sutherland LGA in the south of the metropolitan area – it has four suburbs (Burraneer, Bundeena, Lilli Pilli and Illawong) on the Bottom 20 list, all with growth rates below 2% per year.
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
Terry was recently joined by Property Observer editor at large Jonathan Chancellor for a webinar on why research is the key to successful property investing in 2015. You can download slides and audio from the webinar here.
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Sydney ranks fourth for long-term capital growth: Terry Ryder

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SPONSORED POST
From time to time we’ll see a first time developer who has worked up a project to the stage of it being good enough to be considered by a funder, however they are short on equity.  
Who better to approach than people who already know you and trust your ability? They have seen you cook a good steak on the BBQ, which you assembled without the instructions, so if you can build a flat pack BBQ without stuffing that up, how much harder can it be to build a 5 storey residential tower?  
Often a first time developer facing this kind of scenario will approach family and friends to raise the equity required to get the deal over the line. But given the relationship that the developer has with these ‘investors’, these form of equity loans are never documented properly, if at all. Time and again we hear the response, no need “He’s a mate and a good bloke” or “What could possibly go wrong?”  
Well here are some reasons not to lend money to, or borrow money from, friends and family: 
1. The Loan Has No End Date and sometimes no interest rate.  These are not really loans in the true sense, as they tend to have no fixed repayment date and often don’t include an interest rate on the loan. So the friend doesn’t know when their money will be returned and the borrower often doesn’t know when exactly the project will be finalized and when he can repay the loan.  
This leaves both parties in limbo and doesn’t set any firm expectations. But as time passes and the inevitable delays roll out, the uncertainty can lead to stress in the relationship as the borrower worries that the lender expects repayment and the lender worries about when or if they will be repaid.   
Alternatively, the borrower may not realise that there is a sense of urgency to repay the loan and without a deadline; it becomes their last priority. The developer won’t face any repercussions for not repaying such as late payment charges, a higher interest margin or a negative impact on their credit score. Without the threat of penalties, they have no motivation or urgency to repay.  
2. It’s Always Difficult to Ask for the Money Back  It can be difficult to request repayment of a loan from a friend or family member. More than likely, the lender cares about the borrower and doesn’t want the borrower to feel awkward. The lender may continue to worry about loan repayment and thus shut down some or all communications with the borrower in order to avoid talking about the loan.   
3. It Can Make Social Events Awkward  Family get-togethers or social events can suddenly become very uncomfortable situations. The borrower may feel a need to avoid the lender for fear of discussing the situation, especially if they can’t add any certainty to a time to resolve the matter. Other family members who know about the loan can also become drawn into the situation with disastrous results. 
4. The Borrower May Ask for More  Once you have lent money to a friend or family member, this person may return when he or she needs more money. In addition, other friends and family members may also ask you for a loan. It’s always easier when they know you’ve loaned money before.  
6. You Might Need the Money Yourself  You definitely want your money returned, but your circumstances can also change and you may need your money now! What if you lose your job and you spend your entire emergency funds while searching for a new job? What if repayment of the loan marks the difference between you keeping your house or losing it to the bank? Not receiving repayment of the loan in a timely manner might spell disaster for you and your family. 
7. You Could Lose Your Money and Your Relationship  
If you lend money to a friend or family member you need to be aware that you may not get your money back and your relationship may never go back to normal. This will cause tension between you and the borrower, and may also cause guilt, remorse, and anger amongst others who are related to you both. 
In summary, if you are considering lending money to a family member and want it to be treated as a loan rather than a monetary gift, there are a few things that should be done: 
<ul>
<li>Seek legal advice to ensure that your agreement is properly prepared and correctly reflects the intentions of the parties; </li>
<li>Ensure that all parties to the loan are named in the loan agreement; </li>
<li>Ensure that the loan agreement is correctly signed and is dated by all of the parties; </li>
<li>Be specific and include the amount of the loan, whether interest is payable and the dates for repayment; </li>
<li>Specify what is to happen if the interest is not paid or repayment is delayed. You also need to agree what your rights will be if these events happen. </li>
<li>Consider registering a mortgage or a caveat to secure the loan; and </li>
<li>Ensure that each party to the loan agreement keeps a copy of the loan agreement in a safe and easily accessible place. </li>
</ul>
These suggestions may seem like overkill when you are dealing with friends or family and may be difficult to discuss initially, but if handled in the right way, with the approach that “these things protect both of us, not just me”, they may prove invaluable in the long run.   
After all, nobody wants to be thought of as the third alternative in the categories of the three “F’s”.
This article was written by Dan Holden of HoldenCAPITAL, who are a bespoke construction finance firm, they arrange construction finance and invest in projects through their equity fund, Queen Street INVEST. To discuss your project finance requirement please call (07) 3171 4200 or visit HoldenCAPITAL <a href="https://www.holdencapital.com.au/" target="_blank">here</a>.
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firstname-zEygzUaHDN

The three F’s of dumb capital – family, friends and fools

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Fractional investment platform provider DomaCom Limited announced that it had extended the term of the outstanding convertible notes by 12 months.
Extension terms
DomaCom has agreed to make a payment of A$300k + GST to secure the extension along with a revised nominal conversion price of 10 cents.
This agreement reduces the need for additional capital by A$3.6 million and positions the Company on a more secure footing, allowing it to focus on delivering the following key products: Equity Mortgage, Rent to Own, Essential Worker, and Senior Equity Release.
The notes were issued in late 2018. Specifically, DomaCom secured $2.95 million in funding through the issue of a Convertible Security to Thundering Herd Fund No. 1 and Thundering Herd Pty Ltd, a Melbourne-based institutional investor [ASX Announcement: 10 December 2018].
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Equity Mortgage: This product is being developed to be Shariah compliant and is targeting the Australian Islamic community and other communities that are prohibited from borrowing money. As this product is aiming to provide a method of obtaining leverage for people wishing to purchase a home, it is not believed to be as exposed to negative property investment segment as normal property investment is expected to be. The Company is targeting a launch in Q3 2020.
Rent to Own: Work on this product is continuing with the Company’s first transaction expected to occur in May 2020. This product uses the developer distribution margin to provide a discount to investors whilst gifting equity to tenants each year.
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Essential Worker: DomaCom is progressing its Essential Worker affordable housing product with one of Australia’s leading Community Housing Providers. This product aims to leverage the Government’s affordable housing lending facility to deliver a Rent To Own product for essential workers with a 25% discounted rent. This product is expected to be attractive due to low vacancy risk stemming from the security of the tenants’ employment (nurses, firefighters, teachers, police) in addition to the emotional impact of supporting our essential workers at this time. The targeted launch period for this product is Q3 CY20.
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Senior Equity Release: Adviser accreditation for the Company’s Senior Equity Release product has commenced with the first group of advisers having completed the accreditation these past few weeks. The product is now on Approved Product Groups of four financial planning firms. DomaCom is currently preparing a campaign direct to the retirees to help identify those needing equity from their homes. COVID-19’s recent impact on self-funded retirees income has increased the market for this product.
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 “It is pleasing that we have been able to secure an extension of our convertible notes. This is a significant outcome for us as it reduces our 2020 capital requirements by A$3.6 million. By reducing our need to raise capital, we will be able to better focus our efforts on launching the four new products currently in development. 
"These products address key issues facing investors in Australia such as diversification, housing affordability and improved retirement outcomes. As our operations remain largely unimpacted by COVID-19, we hope to launch all of these products this year," DomaCom CEO Arthur Naoumidis said.
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j.ballantyne1990-6AQqhLzZaK

DomaCom reduces 2020 capital requirements via extension of convertible notes

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The investment banking and advisory group Gresham has launched a $400 million institutional-backed fund that will provide debt to property developers.
The Gresham Property Fund No.5 will offer an innovative "stretch senior" debt product which mixes senior debt that banks usually provide with mezzanine debt which second tier financiers usually provide.
It is because the banks are resistant to mezzanine debt but developers often require the funding.
The joint managing directors Ami Simon and Mike Burley said Gresham’s latest fund had a focus on providing flexible and timely responses to the property industry’s funding needs.
"The purpose of the Fund is to provide a solution for borrowers whose funding needs cannot be fully satisfied by the banks.” 
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The Gresham fund will be targeting investments in the $20 million to $100 million range, with pricing based on the benchmark bank swap rate but will include slightly higher margins than the banks due to the extra risk.
The chairman of the fund's investment committee Tony Berg said the new fund gave Gresham the opportunity to build on its recognised capabilities in property finance.
The funds would be available for property development, value-add and investment opportunities across all stages of a property development or investment lifecycle.
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A number of offshore and domestic institutions who invested in the fund were introduced by Stratos Capital. 
Stratos has placed $750 million of warehouse and public market transactions into the institutional fixed-income market.
Gresham was established in 1985, now with three key business activities units – corporate advisory, property and asset finance. 
Since its establishment in 2001, Gresham Property has invested capital in separate transactions with an end project value in excess of $3.5 billion. 
While Gresham Property has offices located in Sydney and Melbourne, the Flexi-Capital Fund will maintain a nationwide focus.
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