Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Strata

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GUEST OBSERVER 
There is growing anger in the WA property industry with the continuing delay in introducing much-needed reforms to the state’s antiquated strata title laws. 
The industry is calling on the Minister for Lands, Terry Redman to reconsider an announcement last month that the reforms are unlikely to make the 2016 Parliamentary priorities.  
After more than five years of consultation and promises it is disappointing that we still are still no closer to achieving strata reforms in WA in the near future.
“It is crucial that the state’s property laws keep up with the growing popularity of strata titles in WA. 
Over 40 percent of all new homes and many businesses in WA, are located in strata titled properties. 
However the current strata laws were not designed for this level of strata activity, which has resulted in a lot of complex systems and procedures for everyone involved in strata, including home buyers, property managers, investors and developers.
Key reforms that we are waiting for, include: community titles and staged strata developments to create better places to live and work; leasehold strata to enable groups like universities and church groups to do strata development; improvements to management of strata schemes and easier ways to settled strata disputes; and better buyer information.
Unfortunately the lack of strata reforms will impact the anticipated wave of activity centre development in Perth and the regions. 
Some developments will go ahead but they will miss out on the innovations that would be possible with reforms like community titles, and other developments will be delayed until the reforms are introduced.
Meanwhile strata buyers and strata managers will have to continue to struggle with out-dated systems.
Lino Iacomella is executive director, Property Council WA and can be contacted <a href="https://www.propertycouncil.com.au" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Industry anger at delayed strata reform: Property Council WA

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GUEST OBSERVER
In a landmark ruling, the Supreme Court of Victoria has found that planning law, not strata law, is to govern short-term lettings of strata apartments.
Specifically, in Owners Corporation PS 501391P v Balcombe [2016] VSC 384, Justice Riordan found that a rule made to prohibit the use of a residential lot ‘for any trade or business’ in a strata scheme was invalid for these reasons:
<ol>
<li>The role of the owners corporation was confined to managing and administering the common property, and did not extend to restricting the use of a lot..</li>
<li>The rule was a substantial interference with the lot owners’ proprietary rights.</li>
<li>The strata law needed to clearly spell out clearly an intention to inhibit a lot owner’s use of their own lot for the rule to be valid - which it did not.</li>
</ol>
Background
The Watergate Apartments, Strata No PS 501391P is a mixed use development. It consists of 349 residential lots in two 16 storey apartment towers, erected upon a four storey podium which contains 12 retail lots and car park facilities. The plan of strata subdivision was registered on 28 June 2004. It is a residential Class 2 building under the Building Code of Australia, and therefore was not designed for the operation of a serviced apartment style business.
Ms Balcombe and Mr Slater utilise 14 apartments (1 owned, 9 leased, 4 available on a commission basis) to operate a Short-Term Letting business trading as ‘Docklands Executive Apartments’. In eight and a half years of operation, they have had over 3,500 bookings and 10,500 guests. They charge ‘executive’ prices, have minimum seven days stays, require photo identification and credit card details and can evict disruptive tenants immediately.
The City of Melbourne Council (the planning authority) consented to the use of apartments in the building for short-term commercial accommodation (serviced apartments) on condition that: a smoke alarm was installed in each bedroom; an emergency evacuation plan was affixed inside the entry doors; exit signs were placed in the corridors; and the tenants acknowledged the receipt of a safety/evacuation induction.
The proceedings were commenced by the Owners Corporation which sought restraining orders against Ms Balcombe and Mr Slater, alleging a breach of its rule (Rule 34) that provided:
The Proprietor or Occupier of a residential Lot must not use a Lot or the Common Property for any trade, profession or business (other than letting the Lot for residential accommodation to the same party for periods in excess of one month), nor permit any other person to do so, unless:
<ol>
<li>The person … is a full time resident of the Lot and only operates a home office …; and</li>
<li>The relevant planning scheme does not prohibit the relevant trade, profession or business to be carried on in a Lot; and</li>
<li>The Lot owner has obtained all necessary permits from the relevant authorities …</li>
</ol>
The Court’s finding that the Owners Corporation had no power to make the rule
The functions of an owners corporation are set out in section 4 of the Owners Corporations Act 2006(Vic). They can be summarised as:
<ol>
<li>to manage and administer the common property;</li>
<li>to repair and maintain the common property, fittings, fixtures, equipment and services relative to it;</li>
<li>to maintain strata insurance;</li>
<li>to keep records and issue certificates.</li>
</ol>
The powers of an owners corporation to make rules are set out in section 138 of the Owners Corporations Act 2006 (Vic), and are limited to the purposes set out in Schedule 1 of that Act. These purposes are relevant:
<ol>
<li>Health, safety and security – of lot owners, occupiers of lots and invitees.</li>
<li>Change of use of lots – which affect the insurance premiums payable by the owners corporation.</li>
<li>Behaviour of owners, occupiers and invitees on common property, noise and other nuisance control.</li>
</ol>
The Court found that the principal function of the owners corporation was ‘to own and manage the common property of the strata development’.
The Court found that the power of the owners corporation to make rules to prevent the use of a lot for an illegal or injurious purpose, to prevent a nuisance or hazard, or the behaviour of and noise created by tenants, was limited. It was not sufficient to support a general ban on Short-Term Letting on all lots. 
Health and safety issues and changes of use for a lot (an apartment), were planning matters for the Melbourne City Council to deal with.
Therefore the rule to outlaw use of an apartment for short-term letting was invalid as it exceeded the power of the owners corporation and interfered with the rights of the freehold owners.
As a result of this decision, an apartment owner in Victoria needs only planning permission to use their apartment for short-term lettings: Airbnb style short stays and service accommodation. They do not need permission from the owners corporation and any rule in place to restrict or prohibit that use is invalid.
Is the position the same or different in NSW?
There are subtle but significant differences in the strata law between NSW and Victoria:
<ul>
<li>In Victoria the owners corporation makes rules, in NSW it makes by-laws.</li>
<li>In both states, the common property is owned by the owners corporation (it used to be called the body corporate).</li>
<li>In NSW, under section 47(1) of the Strata Schemes Management Act 1996 (NSW), by-laws can be made generally ‘for the purpose of the control, management, administration, use or enjoyment’ of the lots or common property’, without limitation (see section 43), and with a right of appeal.</li>
<li>In Victoria, the rules are limited to the powers set out in Schedule 1.</li>
<li>Also in NSW, original by-laws which are lodged with the strata plan for registration can be broader than the section 47(1) powers, but are subject to section 49 restrictions which include prohibitions on by-laws which restrain leasing.</li>
</ul>
In NSW, the new Strata Schemes Management Act 2015 will commence on 30 November 2016. Section 136(1) is in similar terms to section 47(1) of the 1996 Act. Section 139 contains the section 49 restrictions, with some additions, including an override that a by-law must not be harsh, unconscionable or oppressive.
As a result, it is unclear whether the Victorian decision can be taken as a precedent to invalidate by-laws in NSW Strata Schemes which prohibit the use of lots for short-term letting.
Comments
The NSW Parliamentary Committee on Environment and Planning is currently conducting an inquiry upon the Adequacy of the Regulation of Short-term Holiday Letting in New South Wales. It would be most helpful if it were to indicate how the strata law should be clarified to deal with short-term lettings when it reports at the end of August 2016.
This matter needs to be addressed because of the requirement that all strata schemes review their by-laws within 12 months of the commencement of the 2015 Act.
My suggestions are:
<ul>
<li>That the planning authorities specifically provide for the regulation of short-term lettings for strata apartments in their planning policies.</li>
<li>That owners corporations be able to include a policy statement, which sets out their policy upon use of the residential apartments for short-term lettings, as an adjunct to their by-laws. This policy statement would not have the legal force of a by-law, but would be influential if an application were made to the planning authorities for approval to use an apartment for short-term lettings.</li>
<li>To assist in enforcement, the owners corporation should be given the power to assist the enforcement officers of the planning authority to prosecute contraventions of the planning laws.</li>
<li>If a short-term letting use is being carried on, with or without planning approval, the owners corporation should be entitled to levy a surcharge upon the strata levies payable for the apartment in question, to cover extra wear and tear, garbage, insurance premiums, visitor parking and water use.</li>
</ul>
Anthony J Cordato is lawyer, Cordato Partners and can be <a href="https://www.businesslawyer.com.au" target="_blank">contacted here</a>.
 
 
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Property 101: Victorian strata and lot owner proprietary rights

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Technology firm Urbanise.com and Prudential Investment Company of Australia have signed a 10-year agreement worth $16 million to develop cloud-based solutions for managing its property portfolio of more than 200,000 lots.
The agreement also includes plans to set up a shared platform to provide outsourced IT services to the Australian strata industry, which incorporates more than two million lots nationwide. The platform will help strata management professionals to outsource back office work.
PICA Group, Australia’s largest strata management company, operates 15 well-known brands including Body Corporate Services (BCS), Mason and Brophy, NSW Strata, Dynamic Property Services, GK Strata, and Strata 3 across New South Wales, Victoria and Queensland.
Urbanise’s global head of Strata David Bugden said, “Urbanise is implementing the entire product suite for PICA – Strata, MyCommunity, CRM, service delivery, mobile workforce, e-services and facilities management."
The partnership will offer facilities management, repair and maintenance services to PICA’s more than 350,000 tenants. Property owners can benefit through self-service web portals and mobile apps. PICA Group is also piloting Urbanise’s remote asset monitoring sensor technology at a 5,000-lot community in Sydney.
Greg Nash, managing director and Group CEO, PICA said, “The platform’s scalability and technology roadmap aligns with our vision for the broader strata industry. Cloud-based solutions will become fundamental to professionalising strata service delivery in the future. PICA and Urbanise are at the forefront of driving this industry change.”
 
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prateek24-ezbwHMbNAk

PICA signs agreement with Urbanise to manage strata portfolio via cloud   

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<div style="text-align: left;" align="center">GUEST OBSERVER</div>
<div style="text-align: left;" align="center"> </div>
<div style="text-align: left;" align="center">Following some of the most damaging weather Australia’s east coast has ever seen, the Victorian State Government is being urged to consider reforms which would see maintenance funds be made mandatory for owners corporation communities. </div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">Maintenance funds help communities pay for emergency repairs whilst waiting for insurance claims to be processed; but without them, the wait can be perilous. </div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">Thousands of apartment and unit communities were hit hard by recent weather, and with no laws in place to ensure that emergency maintenance funds are collected; many will struggle to cope with the fallout now and in the future. </div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">We’re very concerned that Victorian owners corporation communities aren’t in a position to financially deal with the unpredictable nature of Australian weather.</div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">We understand 20,000 claims have been lodged since the wild weather hit, and with the knowledge that many won’t be covered, the number of affected owners unable to afford repairs could very well reach into the thousands.</div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">If reports of insurers not covering recent damage, under an “act of the sea” clause are correct, it really shines a light on the need for maintenance funds to be behind each community. </div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">Living in Australia often means being exposed to wild weather events and communities need to go a step further than simply relying on their insurance policy to save the day.</div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">Insurers commonly do not cover ‘acts of the sea’ so repairs following the raging waters that have ripped coastline communities apart will likely need to be funded in other ways.</div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">Aside from the funds themselves however, the wait for claims to be processed amid major events like the ones just seen can hurt just as much, so having access to funds immediately is pretty crucial.</div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">Beyond weather from above, bushfires are a year-in year-out threat to Victorian owners corporation communities and communities need to be held accountable on their financial preparedness as soon as possible. </div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">It won’t be long until we’re discussing the devastating effect of bushfires on owners throughout the state and we’ve got a scheduled rollout for the State Government to consider in making these funds mandatory.</div>
<div style="text-align: left;"> </div>
<ul style="text-align: left;">
<li>By end of year 1, owners corporations with greater than 50 lots must implement a maintenance plan and set up the collection of funds. </li>
<li>By end of year 2, for owners corporations with 10-50 lots must implement a maintenance plan and set up the collection of funds. </li>
<li>By end of year 3, remaining owners corporations with 10 lots or less must implement a maintenance plan and set up the collection of funds. </li>
</ul>
<div style="text-align: left;"> </div>
<div style="text-align: left;">Under this plan, the 1.5 million Victorians living in strata will in 3 years be able to consider minor hiccups following major weather events as a worst case scenario and we’re encouraging the State Government to consider the value of that.</div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">In place of any progress on the legislative front, Mr Beck is urging Victorian owners corporation residents to raise their voice and speak to a professional owners corporation manager to get clarification on how their community should best go about setting up funds. </div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">Owners corporation communities don’t have to wait for the regulatory say so to set up maintenance funds, they can start financing their future needs today.</div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">The ugly truth is that there’s no guarantee there won’t be a major event this weekend that creates more chaos, so we hope State Government decision makers and owners corporation communities alike move quickly to see this issue overcome.</div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">Rob Beck is general manager, Strata Community Australia (Vic) and can be contacted <a href="https://www.vic.stratacommunity.org.au" target="_blank">here</a>.</div>
 
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Strata maintenance funds need advance planning given weathering impacts: Rob Beck 

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If you’re currently living in an apartment, planning a purchase or have an investment apartment, it’s important to know that the next and final stage of the big review of Strata Schemes in NSW has been announced.
Draft regulations detailing the backbone of the changes, have been released by The NSW Government to support the wide ranging strata reforms that were passed back in late October 2015.
The Strata Schemes Management Regulation 2016 and the Strata Schemes Development Regulation 2016 that underpin the new Strata Schemes Management Act 2015 and the Strata Schemes Development Act 2015 are due to come into effect later this year.
Peter Chittenden is managing director for residential of Colliers International. He can be contacted <a href="https://www.projectagenda.com.au/" target="_blank">here</a>.
The regulations contain a lot of detail and the key points contained in the regulations include:
The provision to accommodate modern technology for virtual meetings and electronic voting which many time poor people will appreciate, and the changes might also encourage more active involvement by owners.
Another regulation and a change that has attracted a lot of comment are the provisions for the documentation and procedures for the collective sale and renewal reform that enables a minimum of 75% of owners in a scheme to jointly agree to sell or redevelop their scheme. As possibly one of the biggest changes, this area needs careful consideration.
There’s also a draft model by-laws on a wide range of issues such as pet ownership and smoke penetration.
Draft Strata Schemes Management Regulation 2016 
The proposed Regulation is extensive and it aims to support strata communities in a number of ways including some of the following summarised key points:
Protecting a scheme’s assets by:
<ul>
<li>Outlining what the developer’s maintenance schedule should contain.</li>
<li>Providing a ‘common property memorandum’, which owners could adopt.</li>
<li>Setting out how the new building bonds for new strata buildings would function.</li>
</ul>
Helping schemes to operate effectively by:
<ul>
<li>Allowing for different types of voting procedures.</li>
<li>Specifying that voting records, including electronic voting records, need to be retained for 12 months only.</li>
<li>Setting out the process for mandatory Fair Trading mediation.</li>
<li>Establishing that certain financial matters would not require an owners corporation meeting.</li>
<li>Setting out clearer approval requirements for renovations to make it easier to get basic renovations done with no, or minimal, approval.</li>
<li>Structural renovations would continue to require approval by special resolution or as set out by the strata scheme in a by-law.</li>
</ul>
Clarifying and reinforcing key accountabilities by:
<ul>
<li>Providing procedures to elect members for the strata committee, including tenant representatives.</li>
<li>Setting out additional matters and documentation requirements for the agenda for the first annual general meeting.</li>
<li>Determining the insurance requirements for schemes.</li>
<li>Clarifying that owners corporation responsibilities could only be delegated to a strata managing agent or strata committee (formerly called ‘executive committee’).</li>
<li>Outlining requirements for window safety devices.</li>
<li>Determining how schemes could set and enforce rules to limit the number of adults that can occupy a bedroom. An important and sensitive area for many buildings.</li>
<li>Listing the offences that may result in penalty notices.</li>
<li>Setting out the content that should be included in:
<ul>
<li>Payment plans for late strata fees,</li>
<li>Statements of key financial information,</li>
<li>Receipts issued by treasurers of owners corporations.</li>
</ul>
</li>
</ul>
The Regulation also include details such as:
<ul>
<li>Accountabilities to prevent financial mismanagement.</li>
<li>Continued provisions allowing lot owners and prospective purchasers to inspect financial and other records.</li>
<li>Requirements to ensure that building assets are better maintained.</li>
<li>The approval process for owners seeking to make changes to their lot, and as apartment buildings age this becomes an ongoing issue for many Schemes.</li>
</ul>
Big Issues – Time To Comment
A fully detailed Regulation Impact Statement outlining the objectives and detail of each proposed regulation is easily accessed from the Fair Trading website.
It makes good sense that all stakeholders be encouraged to review the drafts and suggest improvements needed to the draft regulations. This should help make sure that as far as possible the new regulations work as effectively as possible. Important when you consider the review has taken decades to come around and years to put into force.
The Government has allowed for written submissions on the regulations to be made up until 27 May 2016, which is a tight timeframe, however we should all make our views known.
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pchittenden-eLqUUC8TWW

Strata reform regulations the next step: Peter Chittenden

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Australia is a nation of pet owners. Yet as the popularity of apartment living grows, this culture is increasingly at risk from strata regulations that restrict the keeping of animals. Are these laws out of touch?
NSW Fair Trading has released a review of strata regulation. Key changes include a review of model by-laws relating to pet ownership. The proposed by-laws will make it easier for residents to keep pets in a strata scheme, such as an apartment or townhouse.
<h2>What changes are proposed?</h2>
The Strata Schemes Development Act currently incorporates three model by-laws, one of which bans pets. The proposed model by-laws remove this option.
Modifications to retained by-laws are also proposed. For example, a current clause allowing small dogs requires that people “carry the animal when it is on the common property”. The review proposes replacing this with one that doesn’t mention size and requires that owners “supervise the animal when it is on common property”.
The proposed changes are to the model by-laws. Strata communities will still retain the right to adopt by-laws that suit their particular context, including restricting pets.
<h2>Why support the changes?</h2>
Anecdotal evidence suggests that animals are banned from the majority of strata schemes, especially apartment buildings. However, the market appears to be undergoing change.
Growing numbers of pet-friendly apartments are going on sale. It is now not uncommon to see advertisements for apartments that include a picture of a fluffy dog. For developers, pet-friendly status is often part of the sales strategy and is believed to broaden market appeal.
Growing support for pet keeping in strata communities reflects the cultural importance of pet ownership in Australia. More than 60 percent of Australian households include at least one companion animal, with dogs and cats most common. These animals are more than just “pets”: 88 percent of households see them as family members.
Restrictive policies on pets are a real barrier to apartment living. Such rules can force people to consider relinquishing their pets, which can result in euthanasia and be devastating for the owner. Restrictive by-laws also drastically reduce the available market for people trying to sell an apartment.
Pets can be an asset to the whole community. More than just supporting good physical health and wellbeing and acting as a buffer against loneliness, pets have a “ripple effect” on interactions within neighbourhoods; they help to create a sense of community.
My research with dog owners in apartments across Sydney shows this. People I spoke with described having more social interactions with their neighbours after they got a dog. Dogs made people recognisable to their neighbours and served as an ice-breaker, helping people to have “easy conversation” without the feeling of invading someone else’s privacy or personal space.
<h2>I don’t want to live with a barking dog!</h2>
Unsurprisingly, barking dogs are one of the top concerns that people have when they think about allowing pets in apartments. It is important to remember, though, that the vast majority of dogs are not nuisance barkers.
Also, dogs already live across Australia in 39% of households. You wouldn’t even know that most of these dogs were there.
Issues with barking in apartments can be managed in the same way as in detached housing. This involves talking with the owner of the dog and involving the local council if the issue persists.
Importantly, apartments also bring another layer of regulation. The same noise by-laws that can be used to stop your neighbour playing loud music all night also apply to pets.
<h2>What’s wrong with the current rules?</h2>
Existing model by-laws are unnecessarily restrictive. While some are “other regarding”, ensuring that animals do not have negative impacts on the experience of others living in the strata building, many (such as blanket pet bans) are “self-regarding”.
These by-laws do not regulate a specific behaviour that may have impacts on other residents, such as barking. Instead, these are blanket restrictions that limit residents’ choices regardless of whether these would have impacts on others.
The current model by-law that favours small dogs is a good example of an “other regulating” by-law. It also comes with a sting in the tail: some large dogs are behaviourally quite well suited to living in apartment buildings, while some small dogs are high energy and not as suited to this type of living unless kept by someone who is able to meet these energy needs.
The current by-laws therefore risk encouraging some pets that are entirely unsuited to apartment living.
<h2>What else do we need to do?</h2>
Proposed changes to strata regulation in NSW are open for public comment until May 27, 2016. If the changes are adopted, new strata schemes should be encouraged to adopt one of the pet-friendly by-laws. Existing schemes can also be proactive and consider making changes to their by-laws to make them more pet-friendly.
Beyond changes to strata regulation, apartment and urban design that is pet-friendly is needed so that people can live well with companion animals. Design measures such as good sound-proofing, ledges and windows that allow animals to see outside, and pet-friendly open spaces in and around apartment buildings (including gardens and local parks) are good for the wellbeing of people and animals.
We should also support good neighbouring. Recent research, including my own with pet owners, suggests that in many strata communities neighbours make formal complaints about neighbours rather than knocking on the door and having a chat.
Some pet owners claim to be unaware that their pet has been a nuisance to others until they get a letter from the strata committee. This is not only stressful, it also limits the opportunity for people to respond to any issues.
Pet keeping is already widespread in Australia and brings numerous benefits to individuals and communities. Rather than trying to restrict the presence of pets in one type of housing, it is time to think about how we can live well with our companion animals.
Emma Power is senior research fellow, Geography and Urban Studies, Western Sydney University and author for The Conversation.
She can be contacted <a href="https://theconversation.com/profiles/emma-power-250930" target="_blank">here</a>.
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What's a nation of pet owners to do with the rise of apartment living?

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Joining Chris on the latest episode of your Property Empire is Andrew Rechtman from Realestate.com.au and Charles Tarbey, Chairman and owner of Century 21, Australasia.
During the week we had an email in from Frank Raiti in Sydney and he asked:
I've just received a letter from my Strata managers as one of the other owners in my block has requested a Special By-law be introduced to prohibit smoking on the whole property.
I don’t live there and so it doesn't directly affect me but how do you think it will affect my ability to rent or sell the property in the future? Is it a positive or a negative?
Charles: I’m not a smoker so I guess it would be a good thing if you’re not a smoker, because those people who don’t smoke can really smell it.
Chris: More and more these days because no one’s smoking
Charles: If one of my team goes out in the back lane for a coffee you can tell well before they get anywhere near you they’ve been smoking. I think it would impact very much on their ability to rent. I think also, in fact, on the sale price.
Chris: Do you think that’s a positive or a negative?
Charles: I think it’s a negative thing because people like to have a smoke and you can’t take that away. If a guy has nowhere else to go what are you going to do? walk out to the street in your own home now, in your own property and have a smoke? It could be quite a problem for values and for renters. Absolutely. 
Chris: Well the other thing is do you have the other tick box on REA, smoke free zone? 
Andrew: For a smoke free zone yes, but there certainly are things like pet friendly versus not pet friendly. There are issues around making noise. There are buildings where you’re not allowed to have excessive noise and parties. Even parking on some property. My personal favourite is… we have seen buildings with excessive smoke from BBQs… so you’ve got to keep the BBQ under control. It’s very hard to know and you’d have to talk, you know, for your reader, you’d have to ask what is the domain in that particular building? Talk to the tenants, do the tenants mind? I tend to agree with Charles. 
Charles: How do you police it though, really?
Andrew: There’s got to be better ways of them putting, you know, by-law in the building to stop smoking and it does feel like it’s stepped over that personal…
Chris: You see with corporate buildings these days that ban the smokers from being out the front because it’s a bad image for the company as well isn’t it. 
Charles: I think it’s a very bad image for any business when you’ve got people out the front having a smoke. I know some companies where people stand out the front and have a drink. You know, they’ve got a can of VB in the hand and it never looks good. So the back lane is always the best place. But still, you’re going to end up removing a whole series of situations. Pet friendly’s great because a lot of people have a small pet and I don’t see that as an issue as long as it doesn’t make so much noise, but boy oh boy you’re getting really into it if you’re going to start smoking.
Chris: The pet friendly thing is, if you didn’t like pets and you’ve found they’re noisy, would that reduce buyers in the building?
Charles: Well, anything that reduces the opportunity to expose your property to more sellers than normal is always going to have an impact on your price. Limitations like a first home buyer’s property is going to have a million buyers looking at it. A super residence in the eastern suburbs or top area in any area of Sydney is going to have 10 buyers looking at it. 
Andrew: It depends on community standards as well. So at some point it’s going to flip the other way which is I won’t buy from a building that allows smoking. We’re seeing that change in community standards over time. I remember going on airlines where you could smoke not that long ago and you could smoke in bars and pubs and restaurants.
Chris: But having the pet friendly, for instance then, there’s a lot of people who won’t rent. So my philosophy on rentvesting is all good financially but if you’ve got a pet or you’ve got a dog then suddenly you can’t do the rentvesting thing. So that’s where someone may get a premium to get into pet friendly. 
Charles: They may, but I think people just don’t tell you they have a pet. I mean my experience in real estate is you don’t get the full picture on what’s really going on when somebody’s renting. I’m sure that’s your experience too. You rent a property out to one person and in some parts of medium density, you find 10 people living in the property.
Chris: So, would you go with the by-law or go against it do you think? And obviously we’re not giving financial advice here.
Andrew: I’d encourage you to talk to the tenants and see what they think. If there’s a general mood that they shouldn’t be smoking then I’d probably be in support of it. But I think in the long term it probably devalues your property.
Charles: I would be against it and I’m a non-smoker.
For more information other things to consider when buying a property contact Chris at <a href="mailto:yourempire@skynews.com.au" target="_blank">chris@yourempire.com.au</a>.
To watch Your Property Empire on Sky News Business with Chris Gray, <a href="https://www.youtube.com/watch?v=7azCaK_aYKU" target="_blank">click here</a>.
 
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Should strata place a ban on smoking? Chris Gray's Your Property Empire

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GUEST OBSERVER
If GST is payable on the sale of a strata lot, can a dissenting owner recover GST in respect of the sale of its lot having regard to Part 10 of the Strata Schemes Development Bill 2015? 
The short answer is yes, GST will most likely be recoverable as part of the “compensation value” received by a dissenting owner.
Who is a “dissenting owner”?
A dissenting owner is an owner of a lot which does not support a strata renewal plan prepared in accordance with Part 10 of the Strata Schemes Development Bill 2015. 
What is the “compensation value”?
The “compensation value” is the value of a lot determined:
• pursuant to s55 of the Land Acquisition (Just Terms Compensation) Act 1991 (NSW) (Acquisition Act) subject to any modifications prescribed by the regulations; or  • by any different valuation method prescribed by the regulations.
The regulations are yet to be published, so it is unclear whether the regulations will specifically regulate (or modify) the manner in which the “compensation value” is calculated, and in particular whether or not  GST will be recoverable by a dissenting owner as part of the market value of the dissenting lot.
However, if the “compensation value” is to be determined solely pursuant to the Acquisition Act, then it is most likely that any GST paid (or payable) on the sale of the dissenting lot would form part of the market value of that lot, meaning that a dissenting lot owner would then recover GST as part of the overall value it receives. 
Is a dissenting owner entitled to “compensation value” for its lot?
Yes, at a minimum.
When making an order to effect to a strata renewal plan, a court must be satisfied in relation to the compensation being received by lot owners that:
• in the event of the sale of the entire strata scheme (a “collective sale”), each lot owner must receive not less than the “compensation value”; and • in the event of a “redevelopment”, the amount to be paid to a dissenting owner must be the greater of the “compensation value” of the dissenting owner’s lot and the amount which the dissenting owner would have been entitled to had they supported the strata renewal plan.
Leisha de Aboitiz, partner at William James Law and Ole Mitrevski, solicitor at William James Law. They can be contacted <a href="https://www.williamjameslaw.com.au" target="_blank">here</a>.
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Property 101: GST and strata

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Apartment developers who delay construction works to invoke the sunset clause, cancelling the contract with their off the plan buyers, and then reselling at higher prices have recently undermined confidence in buying off the plan.
But soon buyers will have greater protections under changes proposed by the Minister for Innovation and Better Regulation Victor Dominello.
The long suffering purchasers will have to give their consent to the contract termination, or otherwise the developer will be required to give good reason to the Supreme Court. 
“The NSW Government is putting developers on notice that from this day forward if they use a sunset clause for no other reason than to reap a windfall profit at the expense of the purchaser – then they do so at their own peril,” Mr Dominello said earlier this month noting the legislation will apply to existing off the plan contracts which have not yet reached the sunset clause date.
The legislation is intended to provide developers with legitimate reasons, such as planning permission or unavoidable building delays, a get out clause.
“The overwhelming majority of developers are reputable and do the right thing,” Mr Dominello. 
According to property research and investment firm Aviate Group managing director Neil Smoli there are two kinds of developers that operate in this disappointing fashion - those greedy and happy to forgo reputation and longevity in the industry for a quick profit or those inept and inexperienced operators who have miscalculated their financial projections.
I think UDIA NSW chief executive Stephen Albin was right when he said the issue was occurring on the fringes of the industry, but I also sense the dramatic price spurt of the past few years has tempted more of these fringe developers than ever to try it on.
There has also been the odd case where a big Chinese developer has gone to market without any development approval for their project in their haste to secure sales, and then had to restart the sales given council approvals were not forthcoming.
The strata process typically begins with development approvals, then sales, financing and construction, then settlement. The NSW LPI typically approves around 120 new strata plans a month, with a record 158 lodged in July. 
The Owners Corporation Network of Australia noted off-the-plan purchasers have long borne the brunt of an off-the-plan purchase system weighted heavily against them. 
Thick, complex contracts which favour the developer. Forget buyers putting a caveat to protect their purchase. That's banned.
Currently dispossessed buyers rarely mount the costly court case, as they typically end up being out of pocket and also out of home.
I sat in on the recent court case involving a Wolli Creek project that buyers claimed was beset with nine specified issues of delays but the judge ruled only one, the piles installation had failed to have reasonable endeavours made. And that contributed six weeks only, so the developer won the case. There was an interesting adjudication that the developers’ failure to construct the building in accordance with the original development consent did not necessarily constitute a breach of their obligations.
As much as the termination of contract is a huge issue, I'd suggest substantial changes to apartment floorplans are occurring more regularly with distraught buyers left with little choice but to cop it.
This article was first published in the Saturday Daily Telegraph.
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Strata termination sunset changes to brings safeguards for OTP buyers

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Capital values in the Sydney CBD strata office market are showing strong growth for the second successive year.
Vanessa Rader, head of research for Ray White Commercial, said 2015 has set a new benchmark for the Sydney CBD office strata market.
More than $75 million of strata suites had changed hands.
The average capital value was up by 7.48% to $6,200 per sqm.
“The average capital value has seen good levels of growth over the last 12 months across all precincts of the CBD,” Vanessa Rader said.
Investment levels may not reach the highs of 2014 but the capital values achieved so far this year are 21.75% greater than achieved in 2013, she added.
The greatest increase in the Sydney CBD strata market had come from the Southern precinct at 37.04%, although given the limited investment pool and the low base of 2014 this result was in line with the volatile nature of this region.
“Midtown has the greatest volume of sales yet achieved the lowest rate of growth of 3.20% to $5,821 per sqm, nearing closer to the high of the Core, which has had a healthy 6.89% increase since 2014 to $6,912 per sqm,” she said.
“The Western Corridor has a wide range of quality in assets from small Chinatown assets to the King Street Wharf resulting in a broad range of capital values. The volumes of transactions have been high thus far in 2015 resulting in a sizeable 8.83% increase to $6,077 per sqm.”
Ms Rader said investment activity in the Sydney CBD strata market reached $75.07 million, which represents 11,862 sqm across 96 transactions.
“The greatest turnover achieved was in Midtown with $28.85 million across 34 sales with an average property size of 141 sqm, which highlights the affordable nature of the precinct compared to the usually dominant Core,” she said.
“In the Core investment of $25.44 million changed hands. There were 42 transactions, highlighting the smaller suite size with an average of 88 sqm.”
Ms Rader said the Western Corridor has historically been an active region with a high level of supply at differing qualities making it an attractive region for both owner occupiers and investors.
“During 2015 there has been $18.11 million sold across 16 transactions in the Wester Corridor which represents 2,980 sqm of stock, bringing the average suite size up to the largest across the CBD at 181sqm,” she said.
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