Fresh off completing Pienza Neutral Bay, developer <a href="https://www.apartments.com.au/developers/central-element">Central Element</a> is preparing its next move in the coveted Lower North Shore suburb.&nbsp;

Central Element (CE) has lodged plans for an eight-storey apartment building at <a href="https://www.apartments.com.au/new-apartments/54-64-barry-street-neutral-bay-nsw-2089">54–64 Barry Street</a>, a 1,659 sqm site just south of Military Road and the Neutral Bay town centre.

The $52 million development will involve the demolition of four detached homes across four lots to deliver 45 apartments, including eight affordable housing units to be managed by Bridge Housing. The mix will comprise six one-bedroom apartments, 24 two-beds, and 15 three-beds. The apartments will sit above three basement levels with 62 car parking spaces and 50 bicycle spaces.

<a href="https://www.apartments.com.au/architects/mhn-design-union">MHN Design Union</a> (MHNDU) has returned as architect following its work on Pienza, again shaping a mid-rise form with a clear street presence. The design features a lower four-storey podium element that responds to surrounding context, with upper levels recessed to reduce perceived bulk. Communal open space is proposed both at ground level and on the rooftop, the latter including an outdoor kitchen and swimming pool.

“The building has been designed with a lower four-storey element and with building materials commensurate with the character of the area,” Beam Planning noted in its submission to the North Sydney Council.

<img alt="Barry Street, Neutral Bay Nsw 2089" data-entity-type="file" data-entity-uuid="3a28ab3a-b8ba-4476-81cd-e4a8bb84f3a7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Barry-Street-Neutral-Bay-1327x742.png?VersionId=hlgvxszAWXIHgHtdR5HiwIKiSli2lLZV" />

Bridge Housing will manage the affordable units for a period of 15 years, as required under the Housing SEPP’s incentive provisions.

MHNDU’s design report further highlights the site's strategic location just 250 metres from key bus stops and 1.3 kilometres from North Sydney CBD, positioning it for transit-accessible housing supply. In their planning justification, the design team emphasised the site’s compatibility with emerging local character and scale.

Central Element has a solid apartment pipeline spread all over Sydney. They recently completed&nbsp;Pienza, 37 apartments just 500 metres away from the new project, and are currently building Ethos Chatswood, Ballamac House in Coogee, and Bianca on the harbour in Drummoyne.

They have plans for future projects in Mosman, Bondi Beach, Greenwich, Lavender Bay, along with a tower on the edge of Hyde Park.

Joel Robinson

First look: Central Element unveils second Neutral Bay apartment project

Real estate investment fund Wentworth Wentworth Equities is soon to launch a "Los Angeles-inspired" residential, leisure and lifestyle precinct in Brisbane’s Hamilton riverside ahead of the predicted Olympic-led population explosion for the city.

Drawing its style inspiration and name from Los Angeles’ renowned The Grove, <a href="https://www.apartments.com.au/new-apartments/hamilton-grove-19-hercules-street-hamilton-qld-4007">Hamilton Grove</a> will feature three residential towers and a vibrant street-level public precinct with curated luxury lifestyle, retail and dining offerings.

The first of the three towers, to launch in March 2026, will comprise 61 apartments, in the same building as a premium hotel.<img alt="Hamilton Grove" data-entity-type="file" data-entity-uuid="d227fe61-8392-45b7-b386-9133f29a249f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-19%20at%209.10.56%E2%80%AFAM.png?VersionId=HTCV35HZ4h84jQCmHwhsdIPN0ctO5d7Z" />

Wentworth Equities Executive Chairman Sameh Ibrahim said the precinct will be unique in its appeal to both residents and the wider community.

“Hamilton is already one of Brisbane’s most sought-after riverside suburbs and for good reason,” Ibrahim said.

“Where else in the world can you walk out of your front door and have everything you could possibly need at your fingertips? The city is just around the corner, the airport is only ten minutes away, you have the river and green spaces right there and premium retail and dining on your doorstep."

Wentworth Equities acquired the 7637 sqm Hercules St site in 2014, when Ibrahim said he had a "very clear vision" for the precinct, but ultimately it wasn't the right time to develop. He said Hamilton was still very much an "emerging precinct."

“Since then, Hamilton and surrounding suburbs like Ascot and Albion have significantly grown and matured into a precinct that aligns with our vision for Hamilton Grove. Brisbane as a whole has so much to offer in the way of lifestyle appeal, but as it stands it is so widespread – you go to Howard Smith Wharves for fine dining, you go to James Street for shopping, you go to West End to walk along the river – but what if you could go to Hamilton Grove for everything?

“Our vision is a precinct that brings together the best of Brisbane into one central space abundant with culture, class and culinary experience – a place that a lucky few will get to call home, but the rest of Brisbane still get to explore and experience at their leisure.”

<img alt="Hamilton Grove" data-entity-type="file" data-entity-uuid="46550990-8aeb-44d4-bb47-150cdca96529" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-19%20at%209.10.50%E2%80%AFAM.png?VersionId=bmCkApPKY_Bj3z02Q8vI7Kyo_caJXOnv" />

Experienced civil engineering contractor Mainland Civil has been appointed to commence early works for the project, adding Hamilton Grove to their extensive portfolio where it will join other iconic Brisbane developments including Queens Wharf, 300 George Street, Infinity Tower and 1 William Street.

Construction on Tower One is scheduled to commence in early 2026 with completion expected in late 2028.

Fast Facts 
 
• Three residential towers and a vibrant street-level public precinct with curated luxury lifestyle, retail and dining offerings. 
• Construction on Tower One is expected to commence in Quarter One 2026, with completion expected in late 2028. 
• 7,637 square metre site at 19 Hercules St, Hamilton (part of Economic Development Queensland’s 304 hectare Northshore Hamilton Priority Development Area). 
• 61 waterfront residences and skyhomes in the first tower, ranging from two to five bedrooms. 
• Hamiton Grove will be officially launched in March 2026.

"LA-inspired" Hamilton Grove to launch on Brisbane riverside

There’s a quiet patch of <a href="https://www.apartments.com.au/developments/hawthorn-vic-3122">Hawthorn</a>, between the bustle of Glenferrie Road and the curve of the Yarra, that rarely sees change, and even more rarely, new apartments. But that’s exactly where <a href="https://www.apartments.com.au/developers/pomeroy-pacific-quattro-corp">PQD</a> is planting Kooyongkoot: a deliberate, 18-residence answer to the question of what downsizers actually want.

“This is something this pocket of Hawthorn has never seen before,” says Fil Gacesa, head of sales at PQD. “<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a> will deliver just 18 large-scale apartments in the heart of Hawthorn. It is the true definition of resort-style living.”

<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/59D7VxzltmM?si=1iCzRD7FRneKryfv" title="YouTube video player" width="560"></iframe>

That scale is central to the story. It’s what allows for two dedicated lift cores, short corridors, and a generous lightcourt that draws natural ventilation and sunlight into every residence. It’s also what makes room for the sort of amenity usually confined to high-density towers: a fully equipped wellness centre with infrared and traditional saunas, yoga and pilates studio, cold therapy shower, and treatment room. There’s a golf simulator, car and dog wash stations, and extensive storage too, not bolted on, but baked in from the start.

But more than the checklist, it’s the design intent that carries weight. “This project has been many years in the making,” says Mark Pomeroy, Director of PQD. “Not just in planning, but in listening, to what our buyers and the local community are looking for”.

[smartcode_project:default project_id=102717 project_image_fid=355289]

That listening shows up in the materials, oak floors, natural stone, V-ZUG appliances, and in how space is handled. Penthouses feature private rooftop terraces with pools. Terraces and garden residences embrace outdoor connection. Inside, the layouts skew large and open, geared for hosting, not just housing.

Architecturally, <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>’s approach is grounded. There’s no reaching for spectacle here. Instead, the building offers a sculptural calm, anchored by landscaping from Eckersley Garden Architecture.&nbsp;

“We wanted to create spaces that feel expansive, serene, and meaningfully connected to daily life,” said founding partner Chris Stribley elsewhere.

[smartcode_project:default project_id=102717 project_image_fid=355304]

That sentiment, calm, connection, echoes in the location itself. Kooyongkoot sits just a short stroll from Central Gardens, Fairview Park, and the Rivoli Cinema. Tram lines and schools are close, but the street is tucked, quiet, and leaf-lined.&nbsp;

“Residents of Kooyongkoot will be a short stroll from Fairview Park, Central Gardens, and the Glenferrie Road retail strip," Gacesa notes, "but you're also cocooned in this peaceful pocket behind extensive landscaping by Eckersley Garden Architecture.”

Kooyongkoot is set for completion in late 2026.

[smartcode_project_cta:default project_id=102717]

Staff Writer

The project that said no to compromise: Inside Kooyongkoot, Hawthorn

When long-time Ivanhoe locals Graeme and Catherine, decided it was time to downsize, they weren’t necessarily in a rush.&nbsp;

Like many in their stage of life, they had started thinking about apartment living, but anticipated making the shift in two to three years.

That timeline changed when they visited <a href="https://www.urban.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe">Candela</a>, a new boutique development by <a href="https://www.urban.com.au/developers/salter-brothers">Salter Brothers</a>. The project ticked all the boxes they were looking for: location, quality design, and long-term lifestyle benefits, which prompted them to bring their decision forward.

“It was the right place at the right time,” they said. “We knew immediately it ticked all the boxes, and we didn’t want to wait.”

[smartcode_project:default project_id=342 project_image_fid=358855]

Their decision to downsize was driven by a combination of practical needs and lifestyle considerations. Their existing home, while much loved, had become increasingly difficult to maintain. It spanned multiple levels, included extensive front and back gardens, and was starting to show the wear that comes with age.&nbsp;

They were looking for a more manageable lifestyle, one with less upkeep and more freedom. A brand-new apartment with no maintenance requirements and the ability to simply “lock up and leave” gave them peace of mind and a greater sense of control over their future.

Financially, the purchase made sense as well. The available stamp duty savings, strong price-to-value offering, and timing of the settlement suited their plans, making the transition smoother and more cost-effective. The apartment's design and inclusions further supported their choice.

[smartcode_project:default project_id=342 project_image_fid=357493]

The layout was both functional and flexible: three bedrooms, a butler’s pantry, a separate laundry, and a large open-plan living area. It gave them the freedom to host a family, accommodate guests, or set up a home office. The expansive balcony and elevated views added to the appeal, providing a sense of openness and connection to the outdoors.

“It just had a really good flow,” Catherine noted, something they found lacking in many other apartments they’d considered, particularly in the established market.

Candela’s boutique scale was another deciding factor. With a smaller number of residences and a top-floor penthouse position, the couple felt the development offered the privacy and space they were looking for, without feeling isolated.

“We liked that it wasn’t a huge development. It felt well-balanced, modern but still with a sense of community, not overwhelming,” they said.

[smartcode_project:default project_id=342 project_image_fid=357508]

Equally important was the ability to remain in Ivanhoe, a suburb they know well and have deep roots in. After 46 years in the area, proximity to local parks, shops, and familiar faces mattered just as much as the apartment itself.

“We didn’t want to give up the community we’ve known for decades. Candela allowed us to upgrade our lifestyle while staying in the place we call home.”

With a Walk Score of 90, the village location supports a convenient, connected lifestyle. <a href="https://www.apartments.com.au/developments/ivanhoe-vic-3079">Ivanhoe</a> Station is just a eight-minute walk away, and the neighbourhood offers access to parks, cafes, restaurants, and schools along Upper Heidelberg Road, all within easy reach.

Beyond the apartment, the couple also saw value in the broader vision for Candela, one that integrates residential living with public spaces and local amenities.&nbsp;

The development introduces 58 new apartments as well as a mix of commercial and social spaces that integrate contemporary architecture with the suburb’s existing character.&nbsp;

At ground level, residents will find a charming café and a lifestyle wellness centre, perfect for unwinding and rejuvenating. Meanwhile, the rooftop garden offers a stunning vantage point for residents to enjoy breathtaking sunsets, host gatherings, or enjoy barbecues with family and friends. It's not just a place to live; it's a vibrant community where every moment is an opportunity to connect and create lasting memories.

[smartcode_project_cta:default project_id=342]

Why Ivanhoe locals are choosing to downsize to Candela

Mark and Roy Makari are expanding their presence in Sydney’s South West with a second major proposal for Leppington, this time envisioning a 900-dwelling mixed-use development just 850 metres from their previously lodged tower trio on Fifth Avenue.

Project management and construction management firm Creative Vision filed the plans for the&nbsp;multi-building project at <a href="https://www.apartments.com.au/new-apartments/230-rickard-road-leppington-nsw-2179">230 Rickard Road, Leppington</a>. The proposal seeks to establish a new focal point for the precinct through a high-density, transit-oriented development supported by diverse land uses.

According to the Scoping Report prepared for the Department of Planning, the scheme includes around 900 apartments across multiple towers, including 135 dwellings designated for affordable housing. A mix of market and subsidised apartments will be supported by ground-level activation through retail and office space, a childcare centre, and a hotel, forming a comprehensive urban precinct.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="34797362-f3dc-4d84-8235-2657fc5f3bde" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Plan.png?VersionId=Uzckrz9tUpDQl5lX1_WMhjnv16bsr8wG" />

The Design Report by <a href="https://www.apartments.com.au/architects/studiosc-0">Studio SC</a> notes that the project “intends to deliver a high-quality, high-density built form that supports the vision for the Leppington Town Centre, integrating mixed-use outcomes and public domain upgrades.” The development is expected to be delivered in stages, although a precise timeline is yet to be confirmed.

The project will be assessed through a future State Significant Development Application, with the Scoping Report indicating the team will seek design excellence via a competitive process or through an expert design review panel. Early massing diagrams suggest a series of mid- to high-rise buildings framing a central landscaped spine, with emphasis on pedestrian permeability and public space.

The planning documentation flags a strong sustainability agenda, stating that the development will “respond to the urban heat island effect, incorporate water sensitive urban design, and prioritise active transport”.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="369d7b54-1279-4cde-88ec-dcb215594414" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Podium_1.png?VersionId=QArL7B2kkLt63vl5xvL0FNV_ardAlez4" />

The proposal follows in the footsteps of the Makaris’ nearby Fifth Avenue site, where they’ve submitted plans for three towers comprising nearly 500 apartments, with 10 per cent dedicated to affordable housing. That project features commercial podiums, a childcare centre, and a new public park that would occupy more than a third of the site.

Both developments are situated within walking distance of Leppington Train Station and fall under strategic precinct plans promoting higher density housing. The town centre is undergoing substantial transformation, driven by state government planning reforms aimed at fast-tracking housing delivery.

Together, the two projects represent a combined ambition of nearly 1,400 new homes across just under two kilometres of central Leppington.

First look: 900-home mixed-use precinct planned for Leppington

Casino

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Residential properties that fit the flash and the furious mould within the Kyogle and Casino regions are rather slim in number, according to the latest Herron Todd White (HTW) report. 
The report suggests for these rural towns, any detached house within the residential zoned area achieving a sales figure above $500,000 certainly invokes a response in the locals.
A case in point is the sale recorded at 4 Rosewood Place, Kyogle (pictured below) for $518,000 in July 2019.
Located in a 1990s-era subdivision, the two level, four-bedroom, two-bathroom house with three-car accommodation stands out from the rest having been fully renovated inside and out.
"Complete with tiered seating in the main lounge with an LCD projector and motorized screen, you have a veritable cinema under the roof!" the valuation firm said. 
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/18/4%20rosewood%20pl.jpg" alt="">
In the popular satellite suburb of Gays Hill, near Casino, the most expensive house sale for 2019 was<a href="https://www.realestate.com.au/sold/property-house-nsw-casino-130996450" target="_blank"> 6 Devon Court </a>(pictured below) for $549,000 in July 2019.
A more original 1990s, but extremely well maintained and spacious four-bedroom, two-bathroom home with two-car accommodation is a testament to the first owner’s care and attention.
"This level of price is generally found to be more akin with more modern houses....so this one was an eye opener," the valuation firm commented. 
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/18/6%20devon%20court.jpg" alt="">
Rural residential properties usually command the upper price levels within close proximity to Casino and Kyogle, as they benefit from rural views and having the space and opportunity to go nuts on landscaping and ancillary improvements, the report noted.
A unique property located on a well elevated 6.44 hectare site is 38 Chisholm Court, Collins Creek which sold for $700,000 in May 2019.
Contemporary in its design with only three bedrooms, two bathrooms and a detached two-car garage, the house site affords panoramic rural and mountain views to the north and east and is only ten kilometres from Kyogle.
"Far enough away but not too far....as they say. No problems with water supply thanks to a recently installed bore," the valuation firm added.
 <img src="https://www.urban.com.au/images/2019/11/18/38%20Chisholm%20Court%20Collins%20Creek.jpeg" alt="">
"In a recently developed rural residential estate in Naughtons Gap, approximately ten kilometres north-east of Casino CBD, we have <a href="https://www.realestate.com.au/sold/property-house-nsw-naughtons+gap-131229226" target="_blank">35 Ironbark Place</a>, a four bedroom, two bathroom, modern home with two-car built-in garage and a lot of bells and whistles such as ducted air conditioning, solar power system, 12 x 9 metre machinery shed, inground pool and 130,000 litres of water storage, all on a 2.424 hectare site for $755,000 in June 2019.
"Every whim and wish catered for here!" the valuation firm said. 
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/18/35%20Ironbark%20pl.jpg" alt="">
"Lastly, we have the larger, rural lifestyle properties that crack the $1 million plus ceiling and can leave a tear in the eye (or wallet). Consider <a href="https://www.realestate.com.au/sold/property-lifestyle-nsw-casino-7595607" target="_blank">3309 Bruxner Highway, Casino </a>for $1.095 million in June 2019.
"A well laid out 40.33 hectare property with a 1990s, five-bedroom, two- bathroom, brick home with pleasant features such as a wide alfresco area, inground pool, three-bay garage and attached carport, fully equipped bore, dam...a machinery or store shed large enough to fit a Donald Trump Winnebago election troupe travel group – yeah... that’s big.
"Together with clean flat to easy undulating topography and a short ten minute drive from Casino, you can have the luxury of residential and rural living in one package," the valuation firm said. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/18/3309%20Bruxner%20Highway%20Casino.jpg" alt=""> 
Similarly, a 41 hectare property at<a href="https://www.realestate.com.au/sold/property-mixed+farming-nsw-kyogle-700013478" target="_blank"> 1233 Collins Creek Road, Collins Creek </a>is only 14 kilometres north of Kyogle CBD and includes a three- bedroom, two-bathroom homestead set amongst whispering gums with panoramic north-easterly rural views and views of Border Ranges National Park.
"The clean and improved pastures keep the cattle happy as well whilst you lounge on the open verandah and take in the cool breezes and eye catching scenery. At $1.01 million in June 2019, you would think this is a bargain!" the valuation firm said. 
"With the recent cut in interest rates, one would be forgiven for casting an eye on the more pricey real estate." 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/18/1233%20Collins%20Creek%20Road%20Collins%20Creek%20.jpg" alt="">
A brief glance at the residential market for Casino and Kyogle shows only a handful of properties listed in the $500,000 plus price bracket and they appear to be sticking around.
However, this is not the case for rental accommodation in Casino and Kyogle with the bulk of the rental stock being listed and quickly occupied.
At a rental range of $250 per week to $500 per week, there is a sensing of tightening in supply throughout.
For larger rural lifestyle properties near Casino and Kyogle, the $1 million-plus price bracket listing is becoming more apparent for well-presented rural lifestyle properties with a plethora of features such as creek or river frontage, elevated rural or mountain views and good quality and range of improvements.
"In summary, the Casino and Kyogle region has its share of eye candy and there appears to be a market demand to savour it." 
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j.ballantyne1990-6AQqhLzZaK

Rural residential properties close to Casino and Kyogle command the upper price levels: HTW residential 

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Given that residential rent levels in most regional centres and towns have improved over the past 12 months, common sense would indicate that the gross yields for residential property in the regional areas of Casino and Kyogle would be somewhat higher than the more expensive properties located on the coast, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at the rental yields across the nation to dissect where to find the best returns in residential market.
"Quite simply, the price level of residential housing (dwellings or units) in a regional area is generally going to be at a significantly lower base compared to a similar house type in a coastal area which helps the conversion of the rental into a higher gross yield (before expenses and debt servicing)," the valuation firm said. 
For example, imagine a four-bedroom, two-bathroom, modern brick clad dwelling with a double garage in Casino on a 700 square metre site with a value of between $400,000 and $450,000 and a rental value of around $450 to $500 per week.
This translates to a gross yield of approximately 5.5% for a single dwelling (based on a 50 week rental period with an allowance of two weeks vacancy).
"Get yourself a functional teleportation machine and convert those said improvements into an energy pattern (a process called dematerialisation) and beam them onto a similar sized parcel of land about 50 kilometres to the east coast near say Ballina or East Ballina. 
"From there, expect the price level for similar improvements to have a market value of around $700,000 to $750,000," the valuation firm added. 
Rental levels are tipped to be around $600 to $650 per week, thereby, translating to a gross yield of closer to 4.25%.
The figures sound even more tempting when considering that the demand for rental accommodation in Casino and Kyogle is relatively strong for properties at the lower end of the market value range.
There is always a need for accommodation and it is generally at the base or lower level of the market value range where we can see a boost to the gross yield rate, the report noted. 
There are examples of residential dwellings in Casino and Kyogle where the market value of the detached dwellings on a standard house site under $225,000 can fetch market rental rates of around $275 to $300 per week. This translates to a gross yield of around six to 6.50%.
Similar gross yield rates can be achieved by two- bedroom, one-bathroom, attached units with a single carport or garage, particularly within close proximity of the CBD in Casino or Kyogle – a favourite for the older generation tenant needing to be close to town services.
"Well...doesn’t that sound like a property investor’s dream come true! Especially when term deposit rates at the bank are at an all-time low (think 1.5% to 2%) and fixed mortgage rates are hovering around the mid-3%.
"However, within these regional areas such as Casino and Kyogle, the trade-off for reasonable gross yield rates is that capital gain is not expected to be overly significant within a short term time frame," the valuation firm said. 
It really needs to be a long term vision of possibly 10-plus years to see some significant capital gain.
Otherwise, if the property offers some added opportunity such as subdivision of excess land to create an additional lot or a revamp of the internal layout of a house or unit to create an additional bedroom in order to improve the property’s appeal and market value, then some capital gain could be realised in a shorter time frame.
In such circumstances, by selling excess land as a separate lot or title, the net proceeds could be used to reduce the overall principal debt which in turn reduces the overall outgoings and ultimately produces a better net yield for the remaining house on a smaller lot.
"What’s a net yield? Ah yes, the gross yield is the gross rental divided by the purchase or sale price, whereas the net yield is the gross income less all outgoings such as rates, insurance, water, sewerage and property management divided by the purchase or sale price. 
"That is the true test of investment attractiveness. If the net yield is higher than other investment vehicles, then this would seem appealing," the valuation firm said. 
However, this does not consider the effect of debt servicing.
Allowing for an 80% lend, the debt servicing associated with a principal and interest loan whittles down the net yield pretty quickly.
It really only benefits the high net worth individual who needs no loan and has a lazy $500,000 or more to park in real estate while the share market has a few shivers and the bank term deposits are barely two per cent.
"The situation does become slightly more attractive where the gross and net yields for a block of flats or units are higher than a detached house or a single unit," the valuation firm stated. 
A good example is for a block of five units on one title in Casino which recently sold for $700,000 with a gross rental of $50,000 per annum. This translates to 7.14% gross which would be around 5.5% net yield after outgoings.
However, once again, that does not include the effect of debt servicing. So, for an investor relying on an 80% lend to purchase the property, there would be the high likelihood that there would be a shortfall to be met, i.e. the rent would not cover all outgoings and debt servicing.
The cashed up investor would be much better placed to take advantage of these opportunities.
"In summary, if you are hunting for yields, consider it from a long-term perspective and be prepared to cover some of the shortfall out of your own pocket if debt servicing is required," the valuation firm concluded. 
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Gross yields in Casino and Kyogle regional areas higher than expensive coastal properties: HTW residential 

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For the rural service towns of Casino (Richmond Valley Council area) and Kyogle (Kyogle Shire Council), the primary concern of most local buyers is the price point rather than location, location, location, according to the latest Herron Todd White (HTW) residential report. 
"Sure, there are well renovated older style or modern properties with all the bells and whistles within close proximity of the town centre, however the reality is that within both Casino and Kyogle, the radius from the town centre to the fringe of the urban development is well under three kilometres, so most town services available within a small country town are generally nearby," the HTW report said. 
"First home buyers, those looking to dip their toe into the property market, are really price conscious, particularly if they have a limited budget and are at the mercy of tighter lender criteria (hmmmm, but that might be changing in the near future methinks...)."
Fortunately, both Casino and Kyogle are, in comparison to other rural towns and villages of the Far North Coast or Northern Rivers region, are somewhat more affordable with opportunities still available within the sub $250,000 price bracket.
"Yes, they need a bit of work, but provide an opportunity for the industrious first home buyer to put their stamp on the renovation project," the valuation firm added. 
"The majority of properties within Casino and Kyogle linger within the $250,000 to $400,000 price range and are dotted throughout the townships, with the price point primarily affected by condition, presentation, degree of or lack of renovation and functionality (such as number of bedrooms, bathrooms and car accommodation).
"Properties in the upper market category can be generally found in the well-established estates which, interestingly, are further away from the town centre."
For Casino, this would include Gays Hill being approximately four kilometres south-west of Casino CBD.
"Here we find a mixture of recent, modern residential development and well established residential houses from the later 1980s to early 1990s with one feature in common... a larger than average size residential allotment (1,100 square metres).
"It’s a popular spot for up-graders, where sale prices have breached the $500,000 mark in recent years," the valuation firm said. 
The same can be said for the Mayfield Estate (approximately two kilometres north-east by road from Kyogle CBD) and the Geneva (a slightly further 2.5 kilometres west of Kyogle CBD) where some well-heeled properties have quietly punched through the $400,000 price bracket in a relatively tightly held area.
Most of these properties are generally well modernised or new build development with added features of pools, tidy landscaping or having the benefit of views.
There are a handful of residential properties close to town centres that have all the features and generally, for Casino and Kyogle, have been subject to extensive renovation work and include a pool, three-plus bedrooms and have a heritage character element.
"In summary, for rural towns such as Casino and Kyogle, the radius from the town centre is relatively small, so the key factor that tends to dictate all other things is the almighty dollar, so if you are looking to sell, pitch your promotion on a primary price point that persuades the particular people to ponder!" 
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For Casino/Kyogle local buyers, price point is most important: HTW residential 

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The former property developer turned US President Donald Trump once considered opening a casino in Australia.
He was among the tenderers for the Darling Harbour Casino in 1986, partnering with the Queensland-based construction company Kern.
Five groups lodged tenders for the multi-million-dollar casino:
The Australian Federal Hotels and Sabemo group.
Malaysia's Genting Berhad, with Australia's Civil and Civic.
The US operator Harrah's, with Australia's Leighton and Pennant groups.
The US company Trump and Australia's Kern Corp.
HKMS, or the Hong Kong Macau Sydney consortium, backed by Dr Stanley Ho and a Hong Kong company, New World Enterprises, which owns developments in Kowloon.
The Government tender came afTer it refused to go through with a $610 million deal with the Hooker/Harrah's consortium after Cabinet was given adverse reports about individuals associated with both groups.
In mid-1987, on the eve of the casino decision, Trump indicated he didn't really care if he won the contract or not.
Trump told the New Jersey Casino Control Commission he was supposed to go to Sydney in early 1987 but "as the time got closer and closer, it sounded more and more less attractive".
"Eventually I decided it was just a long trip. So I don't know whether my enthusiasm level can be very high for that particular job.
"It's just a long, long trip away. I believe in very hands-on management," he told the commission, as reported in the SMH at the time.
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When Donald Trump toyed with opening Darling Harbour, Sydney casino

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James Packer's Crown Resorts has secured approval for his $2 billion Sydney casino at Barangaroo.
Mr Packer, who owns 53 per cent of Crown, once described the development of the Sydney casino as his biggest priority.
"This is an extremely important day for Crown," said Mr Packer.
"It has taken us four years of constant effort to get to this point and now we can begin building our vision, to give Sydney one of the world's great luxury hotels. We will now work tirelessly to ensure Crown Sydney meets the very high expectations of the government and the people of this city."
Crown had originally targeted a late 2019 completion for the casino with luxury apartments but it is now early 2021 as the likely opening date.
Crown chairman Rob Rankin said excavation work would start shortly.
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James Packer's Barangaroo casino greenlight

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One of Australia's richest men, James Packer, wants to build the nation's tallest building next to his Melbourne casino.
The $1.5 billion hotel and apartment complex includes plans for a 90-level tower that will rise to 323 metres, eclipsing the nearby Australia 108-apartment tower at 319 metres that is under construction. 
Crown and its joint venture partner Schiavello Group have lodged plans for the Queensbridge Hotel Tower project, which includes a six-star hotel of 388 rooms and 708 apartments.
Crown's application has been received by Victoria's planning minister Richard Wynne who has recently taken a firm hand to curtail over-development of sites, including in the Southbank area around the Crown Casino.
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